Topic: How to buy or sell Bitcoin without using a centralized crypto exchange? (Read 168 times)

How to sell or buy Bitcoin without using a centralized exchange?? How does that even sound? Promising right?lol.....
As long as we're all using our local currencies in our daily lives - even if they were places that accept payments in BTC, it'll be limited - how are we supposed to run a P2P to get paid in our local currencies without the centralized exchange?? Is there a way to maneuver that?? Have you imagined how stressful it'll be to get linked with a trusted person without a third party? Secondly, Bitcoin trading isn't possible without FIAT which is what centralized exchanges have to offer. Nobody is adviced to stack up in there since you won't even have full control over your assets (that has been simplified to the best way anyone would understand)

Sandra 🧑‍🦰

If I am not wrong OP is asking about buying or selling crypto assets for fiat without using any platforms that requires KYC, when you say Kucoin even there is no KYC to certain limit it doesn't mean you will never be asked, you can be asked anytime to comply KYC at anytime which probably they mentioned in the ToS itself.

LBC and Paxful already shut their doors one by one so no point of discussing about them.

So what are the real choice, real P2P platform like Bisq which doesn't need any KYC and you can trade your crypto assets without privacy concerns until you have liquidity for your national currency in the platform.

ATM which I don't really prefer due to high commission rate and par low price than what we get from actual exchange.

Finding a trusted trader on your locality or even via forum.

OP, you got me trapped in the middle of your articles with those information from cointelegraph. This is why we need to stick to the forum to have the right knowledge on bitcoin and exchanges. Decentralized P2P exchange is the best to use when making an exchange from Bitcoin to fiat and vice versa because of it's privacy.

Newbies should be careful with the information or article that they read online because not all of them are correct,some are misleading. So many centralized exchanges are claiming to be decentralized and before you know it,you can fall for them.

I might have misses it on the OP. I also wanted to add that the list on that website is not updated as they have still LocalCryptos listed over there. There are other two non kyc & P2P exchanges which I forgot to mention. They are: LocalCoinSwap & OpenPeer.

Yes why you haven't mentioned the Marketplace of this forum, and the ones of the local subsections as an available option in the topic of the thread? You should promote them here, because it helps to improve the volume of the trading and its reliability here. In addition, they allow to not only exchange BTC against fiat currencies but also against goods and services.

There is nothing called decentralized wallet, it is called noncustodial wallet.

I also mentioned that in the OP


But people should pay attention to read about the exchanges listed because some are not completely decentralized. Some are even centralized.

Check this website kycnot.me, here you will find the list of all decentralized exchanges with P2P services and you don't need to pass kyc. On some you even don't need to provide email address for registration. I highly recommend Bisq exchange. 

Using a decentralized exchange through p2p is the best way to get bitcoin privately, some uses centralized exchanges just to exchange their fiat currency to bitcoin and later transfer their asset to a decentralized wallet, this is the best and safest way as kong as your asset were not withheld on centralized exchanges, going decentralized is the best way to secure your asset in bitcoin if you don't want to experience lost.

P2Bare decentralized, no KYC needed. Exchanging or trading on centralized exchanges are not P2P

Thank you very much for pointing out the mistake, I mean Bisq is not centralized and I have corrected it.

Yes, without no third party involved. If you exchange bitcoin to fiat or fiat to crypto without anyone involved but you and the person, like on this forum, no third party involved. If you exchange bitcoin to fiat or fiat to bitcoin on an exchange that is decentralized like Bisq, no third party. This is what I am talking about in the two.

I think this P2P that OP explained is just the decentralized form of the P2P which is the most advisable but the one that includes the third party is the centralized form of it like those that takes place on exchanges like binance or KuCoin. The sellers coins are put on hold by the exchange as the serve as the third party and should there be any problems they held on to your coins till it the issue is fixed.

The two p2p you made mentioned were not explained, or did I missed anything? Because I could vividly remember that p2p has only one method which person to person transaction not third party transaction. Which is also known as p2p that you mentioned. So the second one is not clear for me. Bitcoin bus to assist the Fiat currency so if someone has Fiat and another has bitcoin, and the person who has bitcoin want to use Fiat to buy someone, he would meet the other who has Fiat and gives him the bitcoin unit that has equivalent with the fiat amount, then transaction would take place. This is the only way bi know that is p2p.

Do not worry, we that give it are checking the website. I am just still happy it grade the exchanges with score, Bisq is the first which is correct. If you always read the latest posts you have nothing to be worried about. We bend as the world is bending.

Did you find time to read my post very well, I am sorry for saying this. Check this:

Advising people to rely on third party review websites to trust any service is bad. You can use those sites but only for reference. You must do your own research to double check their review and grade on one service.

Like there are differences between Coinmarketcap and Coingecko for Binance exchange. It is clearly when Binance had fud attack months ago, its rank on Coinmarketcap is always higher on Coingecko. It's explainable as Coinmarketcap was acquired by Binance years ago.

As a centralized exchange, Kucoin can turn to KYC-required exchange anytime in future.

I believe the point that Op is trying to make is that centralized exchanges cannot fully run a P2P platform cause they operate as regulators and the seller has to send to the exchange and then they send to the buyer after the seller confirms the payment.
It looks something like P2E2P not P2P.

The thread could be worded better but the general idea is that the article by cointelegrapjh is misleading and could confuse newbies.

I'm not really sure what's the point you're want to discuss? are you want to avoid KYC or just trade via P2P? There's a P2P site which require KYC, so it should be not a problem if you're only want to give a guide about P2P regardless it's require KYC or not.

The point of P2P is, you're trade with another user which want to trade with you, so you're send the coin to him and he send his coin to you. While in centralized exchange, you're send your coin to the exchange and same with the other users.

You need to rephrase this.

In my own view, you can only buy bitcoin using P2P if you want decentralized system, almost others or all others are centralized.

What is P2P? Read this thread about P2P exchanges: What is a P2P exchange?.

There are only two P2P exchanges. They are:

• transfer of coin or fiat in exchange of fiat or crypto directly like buying something from someone
• the use of P2P exchanges

The main characteristic of P2P exchange is that it is not centralized in any way. Buying bitcoin from someone and give the person fiat is not centralized, also use of decentralized exchange like Bisq is not centralized.

Use this link for decentralized exchanges: https://kycnot.me/, but use the score to grade it. Some are semi decentralized, while exchanges like Kucoin is centralized but does not require KYC.

Try and differentiate between decentralized exchanges and exchanges that do not require KYC. No KYC needed for decentralized exchanges. But an exchange that requires KYC may not still be a decentralized exchange, like Kucoin that do not require KYC but can force you to provide KYC that requires identity verification.


This is what I read today which is a mistake from Cointelegraph, even it is they are mistakes: How to buy or sell Bitcoin without using a centralized crypto exchange?

https://cointelegraph.com/news/how-to-buy-or-sell-bitcoin-without-using-a-centralized-crypto-exchange



What I know is that bitcoin ATM is getting regulated and they have operators, it requires verification for high amount and sim verification for low amount of coins. In my view, bitcoin ATM are centralized.


I thought they were getting what was P2P before, but they included that Binance P2P, including extinct Paxful and Localbitcoins are all P2P exchanges, but that is not correct, they are all centralized exchanges.


Those integrated exchanges on noncustodial wallets are either instant exchanges or bank transfer exchanges. Their fee is very high and they are all centralized.

I like Cointelegraph because they give some news that are good and worth people to know what is going on but sometimes I am always convinced that they are just given newbies wrong information. This is absolutely wrong information from Cointelegraph.