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Topic: Local peer to peer should be allow - page 2. (Read 319 times)

hero member
Activity: 994
Merit: 1089
August 15, 2023, 12:22:32 PM
#13
And try to meet the local seller so that we know who he really is and where he lives. And this can also prevent fraud because we don't know what will happen later.
No local vendor would tell you where they live, surely nobody is going to do that for reasons that are so obvious, and you don't even need that information, if you are going to trade with a local vendor then you can do it face to face if possible, and you both will meet in an open place to carry out the trade. Follow safety measures when doing that.
The important thing is we can trust the local sellers we find and if there is any suspicion, we can look for other local sellers. Usually, these local sellers can be found on social media to offer their services to friends or other people.
It is not safe to trust people who advertise that they sell and buy BTC on social media platforms, too many of them are scammers. You should use a decentralized exchange such as bisq for p2p trade, and if you want to trade in-person, you can also use bisq to meet local traders around you willing to trade f2f.
hero member
Activity: 2604
Merit: 816
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August 15, 2023, 11:02:12 AM
#12
I think there are still people-to-person purchases like they used to do and don't use the official exchanges like people used to do. But we must be careful to find these local sellers because we don't know them well. Try to sell or buy a small amount of bitcoins to see how it goes and if they are really trustworthy, we can proceed with selling or buying a sizeable amount.

The important thing is we can trust the local sellers we find and if there is any suspicion, we can look for other local sellers. Usually, these local sellers can be found on social media to offer their services to friends or other people.

And try to meet the local seller so that we know who he really is and where he lives. And this can also prevent fraud because we don't know what will happen later.
hero member
Activity: 406
Merit: 443
August 15, 2023, 05:59:00 AM
#11
p2p exchange has become popular compared to CEX for those who want to buy bitcoin and it differs according to the country and the regulatory framework in your country. whenever you find someone who wants to trade cash in exchange for bitcoin or by bank transfer, the faster the process, but it may be somewhat expensive as some ask for fees between 1% and 5%, especially in countries that are subject to financial penalties from OFAC. If you were in those countries, bitcoin might be the fastest and cheapest transfer method.

legendary
Activity: 2268
Merit: 18711
August 15, 2023, 05:49:04 AM
#10
If you want to avoid all the crazy regulations, privacy invasion, security risks, and so on which come with centralized exchanges, then choose a DEX which allows you to trade directly peer to peer with other users. Bisq is great and has already been mentioned. Other alternatives include AgoraDesk and Hodl Hodl. See here for more suggestions: https://kycnot.me/?type=exchange

Peer-to-peer is ok but there should be trust between two parties
Any good DEX will minimize the need for trust by using escrow, smart contracts, or similar. Bisq for example puts the bitcoin to be traded and security deposits in a 2-of-2 multi-sig prior to fiat changing hands.
legendary
Activity: 1288
Merit: 1081
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August 15, 2023, 05:10:51 AM
#9
Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

The problem you are discussing is what the government created by a way of banning bitcoin or regulating the operations of cryptocurrency in different countries. There are some countries that bitcoin is not banned but banks are not permitted to make any cryptocurrency related transactions. This has automatically made the people in that area to resort to the p2p introduced by the CEXs.

The p2p proposed by Satoshi in the white paper can only be accomplished I a decentralized way. But centralization has eaten deep in the people. So, the problem you are seeing is not created by bitcoin but external bodies. It is either you follow the hard way to buy bitcoin or you follow the easy way and sacrifice privacy.
hero member
Activity: 2926
Merit: 567
August 15, 2023, 04:25:48 AM
#8
You did not mention your country or where you are located and what your country's policy regarding Cryptocurrency, here in our country we have a lot of centralized local exchanges where you can trade buy and sell Bitcoin within half an hour, for a country to be called Crypto friendly there should be a lot of options where people can easily buy and sell Bitcoin, they should make it easy especially for newbies who are buying Cryptocurrency for the first time.
Peer-to-peer is ok but there should be trust between two parties I always trade peer-to-peer but it's always on people I can trust but not on a huge amount of money, when a huge of money is involved I go for our local exchanger.
hero member
Activity: 1778
Merit: 709
[Nope]No hype delivers more than hope
August 15, 2023, 03:45:28 AM
#7
It depends on your base, there are some countries that legalize crypto where you can find many solutions for crypto activity around without intermediaries even possible using cash like Bitcoin ATM.
As far as I understand, the easier it is you at least have to pay a higher fee. It does not include the risk if you are dealing with random people with no clear trust status.
sr. member
Activity: 2520
Merit: 280
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August 15, 2023, 03:41:49 AM
#6
I've also heard that there is a bot on Telegram for buying and selling with LN, but I don't know much about it.
If I am not wrong LNP2PBOT Non KYC btc lightning exchange is the one you are talking about, well I tried it but it seems it has only traders from specific country not all over the world so if anyone from that region can use it but to me its not really seems to be trusted.

If you wonder how to use it to buy/ sell on that bot via LN then here is the article.

How to Trade Non KYC Bitcoin P2P on telegram

Here's the bot : @lnp2pBot

legendary
Activity: 3038
Merit: 4418
Crypto Swap Exchange
August 15, 2023, 02:59:50 AM
#5
It is allowed, and there are websites facilitating it though the popularity of them has dwindled through the years. Governments are tightening their grips on currency exchange, to manage capital outflows, terrorist financing, money laundering, etc. Legalized exchange between currencies would only become more and more difficult with more hurdles to jump through.

Your local OTC (a lot of exchanges are P2P but not OTC) transactions are likely to be less regulated but more sketchy.
legendary
Activity: 1372
Merit: 2017
August 15, 2023, 02:25:12 AM
#4
Or is there platform one can buy and sell easily without passing rigorous payment system? Please share
DEX like Bisq is the closest thing to that.

Apart from DEX, he can maybe try the Currency Exchange section of the forum, although he has a very limited offer and it is difficult to find a match for what he wants. I would take a look at it anyway.

I've also heard that there is a bot on Telegram for buying and selling with LN, but I don't know much about it.
legendary
Activity: 3472
Merit: 10611
August 14, 2023, 11:08:36 PM
#3
That has nothing to do with bitcoin though. It is the problems inherited from the centralized payment system and fiat that bring regulations and KYC which makes the process of converting your fiat to bitcoin a complicated one. In other words this is not "transaction process" this is "conversion process" that has gotten complicated.
However, bitcoin is a currency and if you treat it as such you won't face as many problems. For example if you were getting paid in bitcoin like you are paid in fiat!

Or is there platform one can buy and sell easily without passing rigorous payment system? Please share
DEX like Bisq is the closest thing to that.
newbie
Activity: 28
Merit: 1
August 14, 2023, 11:06:39 PM
#2
Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

It's true that some people find the transaction process for buying Bitcoin to be cumbersome. Simplifying the process through local banks or direct transfers could indeed make it more accessible. There are platforms that aim to streamline the buying and selling of cryptocurrencies, offering easier payment options and smoother withdrawal processes. You might want to explore exchanges that prioritize user experience and convenience to find a more straightforward way to invest and trade cryptocurrencies.
newbie
Activity: 26
Merit: 1
August 14, 2023, 11:02:54 PM
#1
Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share
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