p2p trading on Social media apps not always advisable

SmartCharpa

sr. member

Activity: 672

Merit: 319

Quote from: Mr Reporter on Today at 12:10:45 PM

My country people i greet una to this welcoming hands for this new season of happiness and joy.

The reason why i pull out this thread is that, there was this friend of mine who loves to use whatapp as his p2p exchange, what i meant by this is he alway trade his coins on whatapp with an unknown foreigner who claims to have a preferable price tag which i would say is not adverable, i gust many people today have fall victim to this type of scam, it is always adverable for trader's to alway trade their coins on well highly exchange platforms.

This friend of mine was been scammed just because he was ignorant and greedy, most times we see flyers of this black market exchange.

Is your friends unaware of other exchanges where they can swap coins whenever they want? Is it because this was not his first time trading his coin on WhatsApp, or did he fall victim during the first trial? I've always seen groups on Telegram where people sell their coins, but some people get mind sha to believe anyone they meet online and agree to buy or sell, and this is the first time I've heard that they can even exchange coins on WhatsApp.

However, I still don't understand how this WhatsApp trade works, did your friend by mistake send his coin to the buyer and the buyer not pay him? Many people have experienced this on exchange, when they release the coin and the buyer does not pay them. It's possible that your friend's story could be like that. You should at least suggest an exchange for him to trade his coins the next time because this has taught your friend an important lesson.

Hyphen(-)

hero member

Activity: 1064

Merit: 747

Quote from: Mr Reporter on Today at 12:10:45 PM

This friend of mine was been scammed just because he was ignorant and greedy, most times we see flyers of this black market exchange.

You don’t have to trust anyone in cryptocurrency especially on p2p transactions because I have experienced such scam before, through telegram p2p that claimed to be from Binance p2p which has everything set up for the scam and the platform looks real and they end up scamming me; since then, I don’t trust any one again when it comes to p2p.

To be safe, tell your friend to be using centralized exchanges like Bitget, and Bybit, for now, they are somehow reliable because since Binance, KuCoin, and OKX get restricted, Bybit has been what we use for exchange of USDT to Naira, and so far if you follow de process without greed, you will have smooth transaction.

Never trust anyone when it comes to money especially in crypto transactions because the transactions are not reversible and once you send to someone you don’t know, there is no way to trace it back.

Mr Reporter

member

Activity: 87

Merit: 17

Reward: 10M Shen (Approx. 5000 BNB) Bounty

My country people i greet una to this welcoming hands for this new season of happiness and joy.

The reason why i pull out this thread is that, there was this friend of mine who loves to use whatapp as his p2p exchange, what i meant by this is he alway trade his coins on whatapp with an unknown foreigner who claims to have a preferable price tag which i would say is not adverable, i gust many people today have fall victim to this type of scam, it is always adverable for trader's to alway trade their coins on well highly exchange platforms.

This friend of mine was been scammed just because he was ignorant and greedy, most times we see flyers of this black market exchange.

Topic: p2p trading on Social media apps not always advisable (Read 15 times)