Topic: Make una dey careful when trading (Read 258 times)

I believe sae before peso go begin to trade their crypto assets for crypto exchange, them go at least have little knowledge of how not to fall victim to scams. For a peer to peer merchant to bring an offer to trade outside the crypto exchange and also promise a higher pay supposed to signal the peso sae, danger d because Binance d warn against am for peso not to try am.

Since the Nigeria government don succeed in making Binance remove USDT/Naira trades from their exchange, I believe those woroworo peer-to-peer merchants go still move over to other crypto exchanges(wey d accept USDT/naira trades), looking for whom they go scam in that same method or another method wey dem go come up with.

Since you mentioned that the seller was a newbie so I won't ask her some technical questions,  but basically as you rightfully said this method of scamming I quite cheap but those without knowledge can still fall victims for this and for sure it will result into a big lesson for the victim if she fall eventually.

But to any knowledgeable trader that alone is a big red flagand shouldn't be taken off the exchange for whatever reason and if there is anything to ask or chat about the exchange chat box is there to make every communication.

See myself don't even have any problem with a trader offering me higher prices to trade outside the exchange provided he send funds first. Telling me to trade outside the exchange is a big red flag already, now even if I want to play along with him, I will make sure he's the one at my mercy by sending funds to me before I start considering to send him his coins. I have had that offer before, but when the scammer saw that I'm not ready to send my coins until I saw find in my account through my app transaction history. He gave up and blocked me  on WhatsApp.

Is it that we naija they carry this scam of a thing reach everywhere? We really need to dey very careful because as you take table this matter for here is the best thing, there's some newbie out there wey go take fall for this scammers trap. This matter still dey surprised me if we follow another road scammers go still use that way to dey scam people. My question now be say, is it that she later get scam or she didn't fall under the scammer trap? It's already obvious that the person is a scammer, how can he said they should trade outside the exchange when pocket no dey heavy am, if na person wey wise immediately him go observe say the person is a scammer because nobody go ask to trade outside exchange with higher rate. We need to dey careful since na everywhere all this scammers want dey chop now.

This is a very interesting question to ask because in the trading crypto currency market are very volatile in nature, lack of regulation, security issues, lack of understanding and market Manipulation can result to a lot.so before engaging in the trading you need to understand the basic fundamentals.

I use to ask myself if things like this dey happen for this our era until I come see where e happen reason because the pesin never get orientation or idea how those thing dey work,  pesin wey don get orientation and knows how this thing dey work no fit get scammed.  Na only when pesin no get orientation or no get idea em go fall victim because you no know whether the pesin dey talk true or not but because you don hear say you go get excess profit or your money go increase boom 💥 dey don dey get joy because dey  believe say cryptocurrency dey make pesin get money not knowing it's not like that.
Thanks for the article anyways I wish people that don't have orientation sees it

Ma better talk you yarn sooo, if the person normal, why e go dey request outside the exchange, the exchange dey bite abi the exchange wan deduct money??. Abeg make we really dey smart with this people, some of them fit demand for number then send fake alert.

I can remember binance trading caution against p2p trades outside the binance platform with anybody, be it  a buyer or a seller. If your friend constantly uses Binance p2p, she should be conversant with the trading caution against trading outside the platform for their  own safety. It is not normal that somebody should demand your contact information while trading p2p, and you give them and go as far as accepting to do deals outside the platform without thinking of your own safety. Whatever happens in the cause of that action would not be entertained by Binance, irrespective of whether the contact was exchanged or met via the Binance platform, because they already put caution in place for traders to call their attention to scammers using the platform and for them to be careful and trade safely.

Trading outside the p2p platform is very risky, and as such, one must be very careful, and the amount of promise in price variation should not make anyone fall victim to it. If they insist for a face-to-face meeting with you to guarantee you their trust and reliability, just know that they are up to something else, and your safety is not guaranteed as they have promised but rather a kidnapping attempt or they trail you to your destination to harm you. Be careful, be wise  and do not fall victim of any such out of p2p platform trade.

Nobody should be deceived into trading outside a p2p platform by any trader you meet via that  platform requesting your details to contact you. It is very risky and, as such, should not be attempted by anyone. Put your safety first, as that is paramount to your wellbeing as a trader or an individual.

There is a warning on Binance that P2P against this. It is very clear on the app.  What I would want them to do is to go further and ask sellers to report traders who ask sellers to trade out the platform. There should be a punishment for this and not just a warning. These exchanges have to do better to protect their customers.

This story never complete OP, She gree to deal outside the exchange abi wetin later happen? Most of traders nowadays na through scam dem dey take make money and dem go dey form. Dem plenty for WhatsApp and telegram now. Experience people no go likely fall for dem cheap scam method. If you must trade outside exchanges, never send first no matter the sweet mouth of the vendor. But as a newbie, e better make you runaway from trading outside exchange because you fit no withstand the pressure and you go throwaway your coins. Even for inside exchanges, make sure you confirm your payment and everything is intact before you release your coins because some P2P vendors dey send incomplete payment deliberately sometimes.

This thing have happened to me and omo don’t judge forget experience and all once those guys want to get you it just by grace some of them use stuff that you will agree to it without knowing so please because it have not happened to you before doesn’t mean things happen in this world am really talking out of experience here the best advice is to just be on the binance app don’t even reply any trying to text asking you to send number so they can chat you else where please and please.

Op our problem in this country is claiming to know everything when we don't even know anything, sometimes you will be teaching some persons on how to about online trading and let's assume that you're taking it step by step in teaching the person you won't even get to the final sarge they will claim they know how to go about it, moreover no matter how you feel you've understand what is being taught there is still need to sort help next time when you want to do it to be fully sure that you know what you're doing.

Another problem we have in this country is that most people are easily deceived whenever it comes to giving out little and getting more than what you gave out. Whenever people hear someone talking about investing money and getting double of what you invested their ears will go high without thinking about where the person that promises to double your money will get it from or even if it's his money doesn't they have anything to do with money rather giving it out because they want to double money that you've invested. Inasmuch as money is concerned, no body wants to lose money or give out money to people that didn't perform any work for them so it's obvious that when you encounter such people you should understand that they are fraudulent and scammers.

Furthermore, sometimes I don't blame people because poverty has really eaten deep in some persons life such that they don't care about their privacy or about if what they're getting their self in is fraudulent they will just get involved with the hope of making profits. So poverty is a major criteria that has caused some people falling so easily to internet scams

In general doing peer to peer Transaction off an exchange is super risky and now that many influencers has taking it upon themselves to promote so many Bitcoin vendors and they actually don't check the reputations of this vendors is now a problem guys, recently a popular Bitcoin vendor was dragged on social media for now paying someone who sold Bitcoin to him.
Why have such headaches I think using an exchange make more sense to me because the exchange helps in seeing the transaction goes on well but sti you ought to be vigilant.

There is no need to do backyard business in Crypto currency. I think the primary motive of p2p na to merge client wey dey in need of coin or fiat to reduce risk of scammers. and when someone don dey give offer behind closed doors person sopos know say this thing no be legit. Whenever something don too real to be true just bear it in mind say na scam. Every offer wey person give outside CEX, is likely to be fraud because I see no reason wetting go make person no follow due process. We really need to careful this days because people fit do anything just to get what dey want. I even hear say this particular month say Dem Don hack many people cryto account and that still the baffle me wether na carlesnes or na by mistake.  
Na the thread be this>>> https://bitcointalksearch.org/topic/m.63208156

P2P trading no end for Binance but if you meet a trader on Binance no go follow am comot off exchange no matter wetin him tell you as many news wey dey get that can narrative dey always end in scams but e no mean say trades no dey happen off exchanges. We get local vendors wey we fit trade with and they're as good as those centralized platforms wey we dey patronized. The main thing be say as you dey deal with any P2P trade on a platform wey no get escrow you need dey careful make you no go dey trade with scammers as dem plenty online.

If you no wan use CEX like Binance exchange dem you fit ask around and get better merchant wey dey run the buying and selling for your area but you go need dey security careful make you no go dey present yourself to them as been too rich before them set you up. Always learn to dey trade in batches and e no go bad to disguise yourself as also a merchant trading others coin so e no go belike all the money wey you dey trade na your own.

Another thing na to dey avoid high rate, whether na for Binance exchange oh or for local vendors, high rate na trick wey scammers dey use to attract greedy people so you need dey lower your longer throat den to dey regret later say your money dun loss due to scam. E better you buy or sell at a moderate rate and be guaranteed your trade been successful then to go dey chase high rate.

I don't think if anyone would want to loose in any business, so I can say I clearly understood something obviously fishy about his pledge to displease himself an exchange trader and I the crytop traders at the point he could offer to pay a higher rate of the exchange value and the  why he must need my private detail (phone number) as we were strictly supposed to only do the  business and apart from that, why we must trade off the applicable platform is a very large one of the suspicious ness of him being negative.
The tendencies of easily falling for scammers is mostly when one implies greeds in the trading firms and also the acts of reconciling your doubtful ness to considering the scammers emotions and lastly, your passiveness towards strange sensitivities.

It's crystal clear that she wasn't informed about trading but even though this is painful experience, nothing beat personal experience. I mean, with such outcome nobody will ever try to scam her with trading scams again unless there is a new scope in town she might fell for but I'm confidence that she will never fall for such kind of scam in this space ever again.

Some of us has the bright idea because we are pretty fast learners but where money is involved, you need to walk around with 3 eyes so you don't become the next object to be prey on, you need to ask around and read around but newbies are always lazy to do research and that's why such scams never get low patronage, the scammers are always ahead of them buts it's good that you brought it up for the community.

That's same greed of humans am taking about and this just like a disadvantage in our system that only few can override this and even if he is veteran and experience trader, he was still naive to agree to complete a trade outside the trading exchange which is a very poor decision for him and whatever consequences that he is facing is all tired to the stupid decision he took.

Before now alot of people were scammed on binance exchange in particular and now there is always a new flash warning as you are about to trade your coins to be very careful and not get involved in anything that can risk your coins.

Yea this forum especially our local board dey grow very fast. Many people don dey know about Bitcoin and the best place them dey go for information na this forum. So this your topic make sense well well because e dey easy to scam the newbies than people wey don dey long for the business.

It's a regular thing for traders to request for phone number for fast transaction, at least that's how they put it. But the aspect of requesting to trade off the exchange is a red flag that no one should even accept. There is a reason the exchanges design their p2p platform the way it is and as you can see, the funds are in escrow meaning any funny move can be tackled. But outside the exchange, it becomes very difficult. So never accept trade outside the exchange.

Na true you talk because scammers done full all this crypto exchange they go try use any excuse make you believe them make you trade with them outside binance because anyone that says you should trade with them outside binance is a scam never believe with that person, everyone eyes done open because anytime dey just dey talk different ways were scammers dey use scam people he go hard make dey scam person now anyone where dey scam never dey long for crypto journey, op This is a good issue to bring up in this forum since we are having new participants in the forum they need to understand a lot of things so that their money is safe from scammers.

I figure out say for this our industry, wetin dey mostly kill people and wetin dey mostly make people fall victim to all these cheap scams nah GREED. People just too get big eye and scammers don notice am so them go use am as advantage and if you no take time, you go fall for those their chap scams. Else I no see any reason person why person go carry exchange market comot for he exchange. Come dey chat you outside the exchange. Your first approach first nah to go report that trader for that exchange, block am for WhatsApp after you don seriously warn am make him no ever contact you again.

The only reason them dey ask for number during trading na just to take precautions, just Incase person delay during the trade, maybe them don pay you and you no come gree release crypto or maybe you don pay the person and the person dey delay to release crypto give you, e don finish, no be to carry exchange matter comot for exchange. Anybody wey do like that, e wan swindle you.

So whether newbie or not person no supposed tel you say this kind thing nah scam them wan scam you, anything crypto na money matter and people supposed dey handle am with discretion and carefulness. No dey carry greed dey follow matter like this, nobody be father Christmas, everybody dey fine money, and if you loose guard you go collect, that small one wey you get, them go collect am from you.

I greet you to boss. Majority of people for here done do plenty mistake when trading because I come they get some funny experience with some exchanges this days make you no trade for exchange wey we no sabi. I they always fear when they mention trading. All does guys for p2p I hear say them get issue, the exchange no be mumu na so them wan use style scam the girl be that, i see say once you wan do anything for this cryptocurrency you need to be sharp if not my brother the things no go funny and I done read for Twitter I don't know how true say them done fuck plenty  guys up for physical p2p, because first of all I no know waiting carry them go do physical p2p, so make we they careful as our oga done talk.

Na so na true you talk. Why im wan trade for out the exchange when know say the exchange price e dey cheap for him. Omen thank you for this information. Na so dem dey do dey try to Scam people out the exchange so dat dem no go penalize am. Im think say im wise, and im don forget say na naija we dey as dem dey do dey scam we too dey wise up every day.

Anything exchange I dey very careful with them because my friend nearly fall for their hand well with $400 so after that incident I dey observe very well before I dey even release my coins for dem. Now dat promised wey im make na to lure her go corner then tell her to send very big amount of bitcoin if she get then promised her to pay double from the exchange and her head go swellow up then without wasting of her time for hope to receive big amount of money she go send the bitcoin and waiting received payment, guyman go disappear. And if you carry day case go to the exchange dem no go listen you because you no get the evidence from the exchange. So we have to look well and be careful with our trading.

One thing I have learnt from doing p2p transaction, juicy offer is a bait to get the naive or greedy ones. Another red flag way to know is they will then say you should send first before their payment. They may even say they are victim of p2p scam just to give you a false assurance that they are not scammers, but don't fall them. In fact do not be the first sender before receiving since you are sure that you will definitely pay once you receive the bitcoin or money and not otherwise because no body is to be trusted online.

People need not to be carried away just because of little offer deal that trader would want to do off the exchange. I know the exchange is not very pure and free from scam but it is better to trade p2p not to lose your money than to trade with a total stranger that is off the exchange.  Losing money all in the name of trading is very painful, I think people just neeed to do right thing and not to allow just increase of rate of trade to be used as a strategy to get into the hands of scammers. When it comes to trading people needs to be extremely careful because their are lots of scammers looking for who to scam.

Op this na very intereating discussion wey you carry come board. This na one of the reason wey make Oyibo create exchange, them make exchange so that we fit dey swap or exchange coin for fiat. So I no see reason wey go make person say make we trade outside the exchange wey be say, if I no confirm payment I no go fit release my coin give any buyer. Some persons sef dey do this kind of outside trade well well for this country, and some of their rates too dey good to be true, na why I no dey trust any vendor for this we country. I don hear of case sef wey person say the vendor show am sent transaction say make em credit am, and case like this the vendor go dey rush the seller or buyer to credit dem or release coin asap. But if you wise you go wait for confirmation before you release coin or send fundz, so if we dey do any kind of trade make we dey very patient until we receive result, not from the vendor but from our wallet or bank account.

Why will an experience trader that has been trading p2p before now agree to do a p2p trade out the exchanger she has been using to make successful trades. Never should you agree to trade p2p outside with anybody you don't know despite how much higher the price they will be offering.

Scammers are fond of using promises that are too good to be true is luring gullible newbies, never get greedy always use recommended and reputable channels for p2p. If anyone chat you on binance to trade outside binance never agree to it, you will be scammed if you do and you won't have who to report to.

I greet everyone I know many of us wey dey here suppose don get better understanding about crypto-currency and even how to trade on binance but I still believe that this forum is growing and there are still many newbies coming in.
 so to go straight to the point my friend who is a bit new to crypto-currency was telling me about here experience sell her Bitcoin a popular exchange she has already understood some of the basic on how to sell but this Time while selling the buyer asked for here number which she gave and then chatted her demanding that they trade outside the exchange, and even offered a higher deal than the exchange. this is a big red flag because you a vulnerable to getting scammed if you are trading with someone you don't know off the exchange no matter how juicy the offer is.