Is it okay to trade on telegram? - page 3.

ovcijisir

sr. member

Activity: 1491

Merit: 320

🐪

Quote from: RodeoX on December 17, 2018, 02:54:00 PM

You and the party you are trading with do not need anyone else, and can work via Telegram or whatever. However you are taking on risks that could be avoided using a licensed exchange. If you do it yourself and someone rips you off... Well, you have no recourse to get your money back. So if trust is an issue, use an exchange.

I recommend to trade with people on Telegram only with people who you know personally, and you are sure they won't scam you.

On my experience Telegram is so full of scammers that I strongly suggest against doing any trade on it with unknown people.

If you don't want to use exchanges to avoid giving your personal information, then you can choose from any exchange that doesn't require KYC (for example Cryptopia)

Edit: added bolded text

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

You and the party you are trading with do not need anyone else, and can work via Telegram or whatever. However you are taking on risks that could be avoided using a licensed exchange. If you do it yourself and someone rips you off... Well, you have no recourse to get your money back. So if trust is an issue, use an exchange.

kelz1

copper member

Activity: 140

Merit: 3

Everything is possible in crypto, even telegram trades via a chatbot! Not much marketing done for this as it's still in the early stages but check out TELEX AI which aims to make trading super simple via telegram: https://telexai.com/

chenille

full member

Activity: 428

Merit: 172

chenille!

Quote from: jademaxxiss012 on December 16, 2018, 06:07:19 PM

Yes telegram is one of the best means of communicating both parties for trading purposes even the escorow service provider will had to invite the buyer and seller to have a negotiations. This for noe is the easiest way to do it. But, if forum applies to have a live chat then it could be easier and a lot way better than doing negotiations in the telegram.

I would not go for a trade on Telegram, there are so many scammers and it's easy for them to fake any account. The scammer can impersonate whoever he wants and arrange a faked escrow or anything else. Telegram has lots of good functions to stay anonymous. It's good for every user, but scammers can abuse it very easily, unfortunately.
If you are planning to trade peer to peer I can recommend Bitcointalk. But you have to be careful who is your trading partner. Is he already tagged red or has red untrusted feedback for being a scammer? Does he have positive feedback? (be carefully, also positive feedback can be faked). Would he risk his account being tagged red for scamming you?
If you are not sure I always recommend to use a trusted escrow:

https://bitcointalksearch.org/topic/list-bitcointalks-escrow-providers-ranking-blacklist-avoid-scam-276897
https://bitcointalksearch.org/topic/few-trusted-escrow-providers-5047302

jademaxxiss012

member

Activity: 308

Merit: 15

Yes telegram is one of the best means of communicating both parties for trading purposes even the escorow service provider will had to invite the buyer and seller to have a negotiations. This for noe is the easiest way to do it. But, if forum applies to have a live chat then it could be easier and a lot way better than doing negotiations in the telegram.

mudyak99

jr. member

Activity: 304

Merit: 5

In my Country, if want to safe trade. You need Third Person for fees. Example if you want to buy in other user, you must pay your money in the third person, then the Seller will send you that token/coin. If you recieve that token/coin, the third person will send your money to Seller.

Umuoji

jr. member

Activity: 188

Merit: 1

I know of lots of people that got scammed in telegram trading. It is very dangerous as one can easily be removed from the group at anytime . it is much safer to trade on it exchanges instead

bitarmor

newbie

Activity: 14

Merit: 15

If what you mean by trading on Telegram is what I think you mean which is peer-to-peer exchanging of coins, then i wouldn't advise anyone to do that.
You better use the popular exchanges like Paxful to trade.

But if you actually meaning buy/sell speculation trade like its done on Binance, then Telegram isn't a bad platform to do such as long as you are using a legitimate service. This, I wouldn't advise beginners to do but only traders that have done their homework and are comfortable using custom tools like bots to trade.

TheBunting

newbie

Activity: 28

Merit: 3

I would highly recommend avoid doing any trading via Telegram. Telegram is plagued with fake accounts mimicking the details of admins of Telegram groups for altcoins, ICOs etc. trying to get money/crypto off you. I highly recommend ESCROW to act as a safeguard and middle man to ensure that the transaction goes through smoothly and without risk.

Better being safe than sorry. Wink

TashaMorgan

newbie

Activity: 7

Merit: 0

No, do not trade on telegram. It should be done on exchanges official trading site.

This one is good, they have 100+ supported coins so you can lots to choose.
https://bitcointalksearch.org/topic/ann-faast-crypto-to-crypto-swap-no-accounts-1995194

kingpin4321

member

Activity: 280

Merit: 14

Trading should be done on exchanges but still it has it own risk but they are on the limit especially with top exchanges.

I will never advice trading on social media or any platform expect with the involvement of an escrow and they must be trusted

seoincorporation

legendary

Activity: 3332

Merit: 3116

Quote from: tgochitashvili on October 24, 2018, 03:02:36 AM

Most of the users have telegram here and they ask to trade there? Is this ok? Or it's more likely to get scammed when using outsource of the forum to trade?

The problem is the trust, who will send the coins first? or let me change the question, who will run with the coins first?

The only possible way to trade on a platform like telegram would be with a man in the middle, and that doesn't warrant that man will not run with both users coins. So the risk of doing that is enormous, just a terrible idea.

daisynonwak

newbie

Activity: 21

Merit: 0

Quote from: Alexrzz on October 25, 2018, 04:21:58 PM

as i know telegram is usually used for trading by people who just need BTC right now to pay for smth - like you buy on one of bestexchange websites. But there is no protection for user - you can get scamed very easy. So better trade on market to protect yourself from loosing money by scammers

I agree with you, I've heard lots of people was scam in Telegram.

Bountyhonter

member

Activity: 406

Merit: 10

To me and my friends we know telegram as the home of scammers so I will advise you not to trade on telegram without any trusted escrow.

thichtuong13

newbie

Activity: 21

Merit: 0

Scam on telegram! i think you don't believe any BOT and any account. because scamer will setting scam bot take your money!

troy.gold

jr. member

Activity: 41

Merit: 1

You should be using a service like this:

https://www.setescrow.com/

Trililing

newbie

Activity: 24

Merit: 0

You can trade coins at any way you like just remember to use the ESCROW for security reasons.good luck.

Louis Jackson

newbie

Activity: 34

Merit: 0

Any transaction is have a risk of the it, because the transaction on telegram you should be an absolute.

Kevin43

copper member

Activity: 62

Merit: 0

scam is everywhere in telegram or discord , I use telegram to get books and video course

Harlot

hero member

Activity: 1806

Merit: 672

Like what the 2nd poster has said you cam trade their but not by a program or customized chat bot but with other people asking for trades. You can save money because there are no commissions involved unlike exchanges but you will have a hard time finding a match on what you are offering and of course the chances of you being scammed is also high. I would suggest that going to a well reputable exchange is the best option for you as you are a newbie, direct trading is not noob friendly and a lot of people will try to scam you once they know that they can outsmart you.

Topic: Is it okay to trade on telegram? - page 3. (Read 23853 times)