Topic: LNP2PBOT Non KYC btc lightning exchange (Read 217 times)

This trader sells sats (BTC) and wants to get USDT or USDC. He or she accepts USDT and USDC in several blockchains: Tron, Ethereum, Polygon, Arbitrum, Solana and BSC.

I thought LNP2PBOT could only be used for Bitcoin and Lightning Network, but I see in this web interface many offers for altcoins.
On their websites it also doesn't show any information about altcoins, so I am curious how that work exactly?

Here is just one example:

LNP2PBOT also has a web interface: https://market.lnp2pbot.com/en

It can be used for searching the offers from all the telegram communities. It doesn't matter in which community an offer was published, each offer appears in the list on the website.


There is a Buy/Sell filter, as well as the filters for local currencies and telegram communities.

The UI is a little bit strange. For instance, in the screenshot you can see six offers where the makers want to buy bitcoins. But the indicator of this fact ("BUY") looks like a button. It seems like you can buy bitcoins when you tap it.
No, this is not a button. This is the sign that the creator of the offer wants to buy. If you go inside the offer, there you can find the button "SELL" which is exactly the button.


When tapped, it brings you to a specific telegram community where the offer was initially published. There you can press the button "Sell satoshis" again and start a trade in the LNP2PBOT as described in my previous post here.

I wrote an LNP2PBOT guide in Russian: https://bitcointalksearch.org/topic/lnp2pbot-p2p-lightning-network-5452798
Let me translate it here.

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The platform consists of two parts: a Telegram bot and Telegram channels. First, you need to start the bot. To do this, go to https://t.me/lnp2pbot and click the "Start" button. After that, everything else will become accessible.

A Few Words About Telegram Channels

In the channels, you can:
- view advertisements,
- click the button to start a deal based on the selected advertisement (this function is available if you have already started the bot).
Everything else is managed within the bot.

The main global channel is https://t.me/p2plightning. It publishes the most advertisements. The fee for deals made through advertisements placed in this channel is 0.6%. It's always paid by the seller. Meaning, the seller sends 0.6% more satoshis than the amount specified in the deal. Additionally, the seller pays the LN fee for routing the payment. The buyer receives exactly the amount specified in the deal into their wallet.

Apart from the main channel, there are channels for local communities. In these, the fee for deals might be lower. For instance, I've created the channel https://t.me/lnp2pbat for exchanges in Batumi, and the fee for deals there is 0.42%. This is the minimum fee allowed by the bot.

How to Create an Advertisement

First, you need to select a channel to publish your advertisement. To do this, in the bot, enter the command /findcomms followed by the currency (for example, for Russian rubles, the command would be "/findcomms rub"). You'll receive a list of local channels accepting advertisements with your currency. Click on any of them, then click the "Use by default" button. By default, the advertisement will be published in the main global channel.

To create an advertisement for buying satoshis, you need to enter the command /buy in the bot, and for selling, the command is /sell. Then just follow the prompts, nothing complicated there.

How to Conduct a Deal

When you respond to an advertisement, or when someone responds to your advertisement, the interaction moves to the bot:
- the bot issues an invoice to the seller, and the seller must transfer satoshis to the bot using this invoice within 15 minutes;
- the bot asks the buyer to send an invoice, which will be used by the bot to transfer satoshis to the buyer upon completion of the deal;
- after that, the bot provides the seller with a link to the buyer's Telegram account, and to the buyer - a link to the seller's Telegram account.

The next steps are taken not in the bot, but in the private conversation between the seller and the buyer:
- the seller informs the buyer where to transfer the fiat currency,
- additionally, the seller and the buyer can agree on the transfer of fiat money in person.

The buyer hands over or transfers fiat money to the seller, after which you need to return to the bot:
- the buyer enters the command /fiatsent in the bot (they have two hours from the moment of creating the deal for this),
- the bot notifies the seller that the fiat money has been transferred,
- the seller enters the command /release in the bot, and the bot sends the coins to the buyer.

If the seller doesn't issue the command /release, the buyer can enter the command /dispute in the bot and involve an arbitrator in the deal. The buyer has 46 hours and 40 minutes from the moment of creating the deal to initiate a dispute. The arbitrator has the authority to send locked coins to either party in the deal.

Important Notice

I want to draw attention to one detail that developers somehow don't mention.

The discussion of the deal and the exchange of details occur in the private conversation between the seller and the buyer in Telegram. The content of such conversation is inaccessible to anyone except the participants themselves. If one of them acts dishonestly, it can lead to problems.

The seller can provide details for the transfer of fiat money, and then claim that they provided completely different details. Moreover, they can edit their message with the details, and no one can verify what was written there before.

The buyer can later claim that they know nothing about any deal, transferred the money by mistake, and demand a refund of the sent amount. They can delete the entire conversation, and there will be no evidence of the deal.

I came up with a solution: to save the conversation before sending fiat currency or cryptocurrency.

How to Save the Conversation
1. Select all messages and click the "Forward" button.
2. In the chat list, select "Saved Messages".

After that, even if your partner changes or deletes the messages, the original version will be stored in your "Saved Messages", which you can forward to the arbitrator or law enforcement authorities.

Just make sure that along with the messages, the link to the partner's account is saved. If you receive a notification "Account hidden by the user" when clicking on the circle next to the saved message, the dishonest partner can later claim that they didn't send that message. There's no way to verify who actually sent the message in this case. So, when receiving the notification "Account hidden by the user", ask the partner to change the privacy settings:
1. In Telegram settings, go to "Privacy".
2. Go to "Forwarded messages".
3. Either select "Everyone" or add you to the exceptions list.

When your partner does this, save the entire conversation again and make sure that clicking on the circle next to the saved message takes you to your partner's account. Only after that, send fiat currency or cryptocurrency.

After the deal is completed, your partner can return to their original settings.

If the partner refuses, I advise refraining from online deals. The maximum I would agree to in such a case is a face-to-face exchange.

I didn't try this exchange simply because it uses telegram and I don't trust this app enough for this purpose.
Another thing I don't like is that everything is written in foreign language when I last checked it, I believe it was Spanish language.
I have nothing against other people using it, if it works for them.
 

Hello,

Did someone try it ?

Oh, absolutely! Spanish is such a beautiful language. Every time I hear it, it sounds like romantic poetry to me!

It's just a shame that I do not understand it. 

Thank you, I will try this. Robotsats is on the list of "decouvre bitcoin" too 

Having more options to exchange Bitcoin is cool, but I am a bit suspicious with telegram and I am sure they are recording everything with do including phone numbers and IP addresses.
I never used LNP2PBOT bot, and I don't like that you have to use third party app telegram for with this, and that has to be downloaded and installed 
Better alternative for Lightning Network exchange in my opinion is called RoboSats, this works as webpage and it can be used with Tor onion for better privacy.
The source code for RoboSats is public, there is no account creating, there is really no installation, and it's very easy to use.

Hello,

I discovered this bot with "decouvre bitcoin" (https://www.youtube.com/watch?v=ouZk05HfSnE),  which offers free courses on bitcoin. It's a serious team that explains things really well (in several languages).

yes I've already sold sats without any problem, but as I was focused on the process, I didn't write down the fees.
 
Then I have to say that currently my wallet breez doesn't seem to work properly and the sats seem blocked, but it should resolve.

Otherwise for scams, I don't know, I guess it must exist like everywhere?

I think it's great that we're talking about it together, that's what a forum is all about and maybe there are things I don't understand, it's good to be able to talk about them.,

From the look of this very statement of yours, it clearly shows it seems you haven't use this bot of yours, which you claim to be the perfect non-Kyc exchange, because I too just joined the telegram group provided through the link presented above, and it looks no difference from an ordinary telegram group. So if you don't mind at O.P, I will like to ask few questions;..
1. Were you able to successfully buy a coin through the bot? If Yes, what method of payment did you use and how was the fee?
2. How sure are you someone is not likely to get scam through this medium?

(I hope you don't take it personal, these are just my sincere observations, and I will like to be clarify)

commands are in english.

in the menu you find /sell for exemple. You don't have to know many words to sell or buy.

sell : vender
buy : comprar

and spanish is a beautiful language, isn't it ?

You mean video instructions with English subtitles? But why is the Telegram channel and bot in Spanish? All the offers I see are in Spanish. Is there a way to change the language?

I didn't realize it was all in Spanish, but I found it with English subtitles. For the French there are videos in French (découvrebitcoin)

Here's the bot : @lnp2pBot

https://www.youtube.com/watch?v=sf6JD1xb-kc

Twitter : https://twitter.com/lnp2pbot

It's very simple, you'll see (for the record, I don't even know how to use Excel any more and couldn't install electrum  ... That's how simple it is)

I joined using the link but it doesn't look like a bot to me, just a channel and there is no execute operations or commands available more over its only showing the offers in Spanish language so it may not suitable for everyone to use.

In my POV, performing transactions through telegram bot is not best practise, because we already have a list of exchanges on which we can perform transactional activities without KYC. Such as OKX and Houbi exchange etc.

Plus we can make p2p transactions on many decentralized exchanges where we will not be asked for documentation such as bisq and peachbitcoin and localmonero etc.

And the there is less availability of such bot in countries like mine where we do not have the facilities to use paypal etc. We only prefer to use what is easily accessible. Plus who have made this bot (like whom to refer when things went upside).

I don't understand why there should be a CEX in the interactions either, since it's P2P. The buyer sends the shitfiats, the seller sends the satoshis, the robot acts as escrow and when everyone has received what they want, they type in the /release command and that's it.

When the seller receives the shitfiats, the bank doesn't know what he's bought.

What you mean ? From my understanding this bot is fully P2P and acts only as an escrow between users

There is no CEX involved as far as I know. The bot doesn't need to have any reserve as it is only an escrow.

In the end, the bot is centralized or will depend on a CEX. If it relies on a CEX users will be required to verify identity as soon as the trading volume inside the bot becomes large. working on telegram or being online website will not change things a lot.

The phrase 'Non KYC' does not mean that they will not request KYC in the future, but they do not do now and may do so in the future.
The only solution is that they have a reserve, you can exchange from that reserve, and then LN bot will be small and trading is limited according to the size of that reserve.

Excuse me, you're right  

If you want to share a product, please share the link.

Because if you don't share its link, only share a name, people will be curious and search. They will find many results with search and not all results will direct to a product you are introducing. You will waste their time and they even can be trapped with phishing sites, phishing applications so if you want to help others, please always leave links to what you want to introduce.

https://t.me/p2plightning

@lnp2pbot Exchange

You're right, thank you, I forgot one P.

Are you sure about the name of the bot is correct? Because when I tried to look for it on telegram there is no result found, if possible please post the channel link.

Since I can't able to find the bot I am not sure how this actually works especially how it can act as escrow between buyer and seller especially when the transaction is happening in LN.

It's not easy to get started, and there are always new things to learn. When you're just starting out, you think that the safest way to buy BTC is on a CEX. Indeed, the place may seem safe and everything is well explained. But you'll have to hand over a lot of documents, and you don't necessarily want to do that (and what's more, you don't have your private keys).

The little bot here accessible on telegram is pretty easy and fun. It works with BTC lightning, so you'll need to have what I call a hybrid wallet (on-chain and lihtning) like breez for example. Then the bot will act as an escrow between you and a seller/buyer.
You can place an ad or spot one and make a proposal.
FIAT offers a wide range of transaction methods, including Revolut, Bizum, Wise, Paypal etc...

It can be useful and simple to use this bot for small transactions, because in the end there's nothing to download (as with Bisq) and it's easy to understand.
There are probably tutorial videos on the net in your language. If you have any questions, I'll try to answer them.