Topic: 💱🟢 P2P-Trading is NOT difficult. Start increase your crypto balance today 🟢💱 (Read 204 times)

Yes I agree with you that P2P is very good option. With patience you can easily increase your crypto holdings but it's very important to always have patience and not be greedy and of course always watch put for scammers.
It's sad that we need to keep our eyes for scammers but sadly that the world we living in and also one negative thing is the KYC & AML, but I can understand why they need to be there and if you can see pass that you can do very well with increasing your totally Bitcoin holdings for example tho I have to agree with what many other says on this forum the safest way is to just hold your Bitcoins and not go out and trade with them, but for us that not are super rich and came in late to the crypto world I think it's a good way to increase your crypto currencies holdings in general. And IMO P2P-Trading is much safer then Trading if your goal is to increase your crypto holdings but as I said, must always be aware of scammers  & scams. 




I haven't tried Binance P2P trading my self. How is it compared to the other P2P marketplace websites? 

I have made series of transactions on binance P2P and all went very well and most traders also do commend Binance for giving a credible means of exchanging crypto with fiat despite some frauds but however, the fraud rate is at minimal due to KYC features though it doesn't really guarantee a full smooth trade but I think it's preferable.

The p2p features on an exchange are a great help for traders who used to transact in their fiat currency. Binance for example, their p2p
feature is really fast.

In other exchanges that have p2p, it's fine too, but Binance is different. Maybe because of the well-known exchange in this field, more people trust the Binance platform. Even if we say that it has a required KYC, that's fine with me.

Never stop the grinding, we always continue our farming. 

Yes. always. I think that's the best advice for P2P-Trading. If everyone did this, a lot less scams would have happen. The scammers often target new accounts.
Example: My account is old so I never get any scam attempts, but I just invited two of my friends to the crypto world and P2P-Trading and damn scammers open trade with them and try the most stupids scam I ever seen.
But lucky they always ask me first and I told them before they started always check your balance, never share contact info in trade chat and more.



Often the one's with KYC have much more traffic, at least that what I think but maybe I am wrong? But that's the reason I use them. I am 100% honest with P2P trading if you use good payment options and are active you can make sick %-profit. Of course I have being scammed sometimes but I never get scammed the same way twice and it was only low amounts so I can survive it, the biggest was BTC for $220 around two years ago.

But what you maybe can do is what I did I used my driver license that expired one week later and now it's not valid as a ID and they have not asked med to update my ID yet (The P2P-website).
Also before you had to verify your address but some P2P-Exchanges has removed requirement now.
And also I have tried that website that don't require KYC for register but i felt the traffic was to low. I used this LocalCoinSwap

on the note that binance is one of the best exchanges to do your p2p trading, that i can agree. i've been using their p2p since they introduced this feature. so am not using my local crypto exchange anymore. they have long list of merchants also, so you can really get a good deal depending on your situation or your consideration :
- the available payment method (banks or payment gateway that a merchant is offering)
- the minimum/maximum amount the merchant can accept to trade with
- the duration of waiting (some have 15min, 30min, 1 hr >> so if you are in a hurry, you can choose the 15min but you may find the rate a lil bit lower)
- the percentage of completed orders, the total number of orders in a month

those factors you can already see for each merchant so if the percent completion is low and you are in a hurry to cash out, i guess, you will consider a merchant with 100% completion. because this figure will give you idea about their "reputation" as a merchant. also you can leave a review/feedback after each order. so it will be helpful for some if you want to avoid some merchants where you have bad experience with them.

BabyBandit writes about other exchanges. Bitget now requires KYC even for trading. If you use MEXC, where KYC is not required for trading, then with P2P exchange you will have to go through KYC. I stopped using Bitget after their rules changed.

You made a valid point here that is worthy of note that anyone that wants to engage in p2p trading should endeavor to be a verified Marchant first, so that they can get lesser fees for every trade, newbies that doesn't know this can be trading at a loss. Also that Binance remains the best exchange to do p2p trading transactions, because I know that they have more traffic of transactions than other exchanges. P2P trading on exchanges sounds simple if the trader is knowledgeable about these simple facts that are mentioned, otherwise it can be difficult and unproductive for someone that doesn't understand the information supplied by you and the OP.

AMEN TO THAT! I agree 100%. It's true. The one's says it hard have probably never P2P-traded. It's so easy you buy for one price and sell for a higher price.
BUT you need to farm and get a good network so after you bought you must be able to sell fast (So you don't risk the currency go down)

Cheers buddie.

P2P isn’t hard as people perceive it to be. It’s one of the best way to also make profit by buying low and selling when the price is high. Exchanges like Bitget has a good P2P market that allows profitability, there are also rewards for traders currently up to 35 BGB.

The most difficult part is not defining P2P, but how to reduce fraud as much as possible, using decentralized platforms, and how to find enough traders to complete the trading process.
The links you mentioned need to be updated, so I advise you to add this link ---> https://bitcointalksearch.org/topic/why-kyc-is-extremely-dangerous-and-useless-5221497

In general, every day people are pushed to move away from CEXs, and here we must note the importance of the forum and decentralized open source services.

P2P trading in the most crypto exchanges is not hard but it's not worthy to all who utilized. Just like in Binance, the best exchange for P2P trading, you have to be a verified merchant to benefit this feature, you will be prioritized and get lesser fees for every trade. If you are not a verified merchant and you don't know well how you can profit the P2P there's a risk of losing your money instead of making profit.
So if you want to make money with P2P, focus first on how to become a verified merchant.

I have tried P2P in other exchanges but the volume of trades were not the same as Binance.

You must check your balance to see if you received the payment before you click "payment received" in the app. In Binance, they made a short video on how to buy/sell in P2P and it's very helpful.

Reserved.

The post is work in progress.
If you allow me please share me your best P2P-Trading tips and I will share them here later.  

 

Updated: 20th December 2023.


First things first: What is P2P-Trading?

Peer-to-peer (P2P) trading is a way of buying and selling cryptocurrencies where traders buy and sell directly with each other on a cryptocurrency exchange app or website.
The cryptocurrency exchange provides an online platform to connect buyers to sellers and sellers to buyers. The exchange also acts as a regulator between both parties to ensure safe trading.
To further explain, think of the cryptocurrency exchange platform as a marketplace where a buyer and seller come together to trade with each other.
As it happens in the market, a seller can set their own prices, and the buyer can choose to buy from them or move to another seller with preferable prices.
Source: https://blog.obiex.finance/what-is-p2p-trading/


What should you to think about before you start your P2P Journey
Research about what platform suits you best, be sure it has a good and safe Escrow service and also that it's good traffic with the payment option's you want to use.


Never keep funds on the Exchange
Don't keep more funds then you need for your trading in the Exchange wallet. Most Exchange's offer a custodial wallet service and yo don't want to keep funds there, you want to use a non-custodial wallet.


Rome wasn't built in a day
P2P trading is a marathon and not a 100m race. Always re-invest your profit back to the trading so you increase your trading volume and also your profits. In the beginning it will probably be quite slow until you earned some reputation and got feedback on the platform you using but don't panic, have patience and keep grinding.


Two-factor authentication (2FA)
You should activate 2FA directly after creating your account, it will pretend unauthorized people from accessing your account and give you a higher security.

Never share your contact info or sensetive info
Now I see many scammers trying this one, they open a trade and then in someway trying to do so you share your e-mail. And if you do they will send a phising e-mail and if you open it they got access to your account.


Two factor authentication?
At least I think everyone should activate two factor authentication with an app and not e-mail. This will increase your security A LOT!


History does not matter
Never trust anyone regardless your history and past trades together. you never know the reason of why your partner is trading today.
Example: always be careful when someone offers to make a trade and ask if they can make the payment later, even tho your partner has been honest in the past you don't know what's hes next move is and why. Rather play safe. 🚫 No cash No crypto. 🚫


Watch out for dishonest traders
Scammers will try to send fake payment link/email/SMS/notifications. Always verify that you have received the payment with checking if the money is reflected on your account.
It's possible a scammer will pretend to be "moderator" in a Dispute and in that stage trying to send you phishing links/e-mail.


Minimize fees
Fees is something everyone in the crypto world is well know to, everyone probably dislike them but they fit's their purpose and need to be here so we accept them. But make fees as low as possible and try to do as few transactions as possible on all platforms.
Example: if you using Skrill as a payment method wait as long as possible before doing a cash out and refill your crypto to avoid fee's


KYC or not KYC?
The million dollar question. It's no right or wrong answer, it's up to you to value your privacy. - You can read more about KYC here: https://bitcointalksearch.org/topic/amlkyc-explained-454795



Helpful links

• Exchanges without KYC - https://kycnot.me/?type=exchange
• AML & KYC Explained - https://bitcointalksearch.org/topic/amlkyc-explained-454795