Question about the new P2P option | Bitcointalksearch.org

Tungbulu

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Quote from: Igebotz on October 30, 2024, 04:50:54 PM

Noticed it a day after this topic Court orders crypto company to pay N140m to EFCC for illegal USDT/Naira trade was made, Bank transfer vendors also reduced as most vendors went offline. I guess the bad news caused a lot of vendors to deactivate. And for your question; no it's not safe, don't accept physical trading with a stranger as the chances of you getting robbed, killed is high.

We do not have CCTVs on our roads/streets - your security is not guaranteed.

Sometimes I just ask myself whether truly our government are naive or maybe they’re just playing the fools game when it comes to crypto. Yes I know fully way that some of the actions that some government take is to secure and protect their Jurisdictions, to avoid making the country a dumping ground for international companies that wants to have their way without first going through the due process, yes I’m fully aware but then again, there should be exceptions in some cases and the government should at least make their requirements a little more flexible for the both parties rather than trying to crackdown on every crypto activity in the country. The demands are pretty much, making it pretty difficult or nearly impossible for those companies to even attempt negotiating, it’s almost as if they don’t really want crypto to exist in the country or if it has to, then it needs to be on their own terms and this is really preposterous and annoying at the same time.
Nigeria has a very strong position in the Crypto global market and with the right push, this could turn out to be a huge innovation for our country, and we could achieve even greater heights than we’ve already achieved.

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Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

I Don see that post for this forum too wey dey attack people wey agree say they wan do physical trade and I say person wey dey normal with he or her sense no go agree to that kind thing, how can someone even tell me say make we do physical trade wey me and the person no get any relationship before or even know the person somewhere before, as a hear that story na person wey agree for the deal I blame because the person no really think before accepting that deal.

I no fit do any physical trade anything that concern cryptocurrency make we do am online and I will make sure say you send me my money before I release the coin for you, my advice for anybody be say make anybody no loseguard at this moment because Christmas Don near, no accept any deal wey involve physical trade make them no go use you see waiting your mouth no fit talk.

Tungbulu

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Lol, God no go even gree make I even think of that option, wey be say other vendors wey Dey run the normal P2P deals wey we know them full for the exchange, so wetin on earth self wan make me comot from the comfort of my house, come go Dey meet person wey I no know for where I no even know, even if the meeting point na public place or E say make E come my house, I no go go still gree, cos what’s the essence of privacy and anonymity wey crypto Dey give us. Again we already know say government Dey try really hard to crack down crypto users, so what if na one of their agents Cheesy

make i for jejely waka enter their trap.

Abeg for my own safety and that of my money, me I no fit try that rubbish, even as I be inquisitive kind of person, my curiosity no fit even lead me reach there, not even in my subconscious self. The only exception na if the person na who I know personally, if I sabi the person well enough and trust am too, then I fit consider am. In fact I go still tell am to send me him account to send the money give am, to make an easy for everybody.

Spaceman1000$

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Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..

I never try this option before Shaa, but e dey me surprising as I never see this kind thing before, assuming say I agree for the cash in person, but the person way be vendor dey Abuja and i come dey Enugu, how we wan come take run the deal since we no dey the same city. Baba the P2P way involve the one way no Sabi me and I no Sabi you nai be the best oh, just TF me my money make I give you the coin without us knowing eachother, as this country dey, the risk dey too much to come do money business with person on a physical ground when you no sabi am from adams.

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Quote from: Moreno233 on November 15, 2024, 03:08:58 PM

Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..

Wetin dey surprise me pass be say some people dey actually do this trade because the information you displayed show say the person done perform over 300 trades. Meaning say over 300 people don go meet am for agreed location to carry out the trade because if him no do am, Bybit no go allow them put am there say na trade wey them don complete if them no actually do the trade. People really get mind for this our country o, imagine the risk them dey take for this country where plenty people dey find way to obtain others. Wetin go come be the evidence of payment in the case of dispute?

Well this na something wey I go no ever try out looking at the particular situation of the country wey police and government officials dey after people wey get anything to do with Bitcoin. This kind trade na very risky trade because the vendor and the buyer or seller gats agreed for a particular area for the cash transaction and the whole thing fit be set up because imagine accepting the fact that you dey trade crypto online and you get to reach there and a whole other thing you come witness.

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Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..

Wetin dey surprise me pass be say some people dey actually do this trade because the information you displayed show say the person done perform over 300 trades. Meaning say over 300 people don go meet am for agreed location to carry out the trade because if him no do am, Bybit no go allow them put am there say na trade wey them don complete if them no actually do the trade. People really get mind for this our country o, imagine the risk them dey take for this country where plenty people dey find way to obtain others. Wetin go come be the evidence of payment in the case of dispute?

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Quote from: Igebotz on November 11, 2024, 06:51:26 AM

Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

~

Most of the vendors offering physical cash trade for your coins are kidnappers, Money launderers trying to wash their money clean.

This ur explanation here too make sense. Na now I see why those Face2Face merchants dey offer high rates wey fit tempt man. Wen I first notice am, I be know sey something dey wrong immediately. My mind even tell me sey e fit be some EFCC guys or gofment officials wey dey masquerade demselves as merchants. But dis ur angle nor far from d truth.

BTW, why anybody wey understand dis industry go agree to a Face2Face to start with sef?

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I appreciate your effort in bringing this to our attention; it will help to guide people who are not aware of the risk involved in this type of p2p trade option. I don't know why Bybit management will allow someone to place this type of p2p trade because it will be very difficult and time-consuming before a trade will be complete. I see this type of p2p trade as what will not work out easily because the buyer and the seller might not be in the same city, and if they are in the same city, the seller will not want to cover the transportation fee to meet the buyer to take his cash, and it's too risky to do that because you might be dealing with kidnappers or organ harvesters, which might put your life at risk.

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Quote from: Ruttoshi on November 15, 2024, 11:02:02 AM

I think it is risky to trade using physical p2p because of safety and unrevealed of identity. It will also cost you more because the transportation fee that you will use to reach the agreed location for the transaction to take place. It's good that you only do physical p2p to people that you already know or you go to any mall that can render physical p2p service.

Some days ago, if not upto a week now, I traded p2p with one merchant, this transaction happen in Bybit and everything was settled successfully, in fact the guy was quick to sent me money as it happen in the space of 5 minutes and when I comfirmed my payment, everything went in accordingly not until 2 days ago, I received a call from an unknown number(didn't have the number saved on my contact) and he was nice and confide in me that he was the one that traded with me some days ago, greeted and wanted me to be always trading with him offline and I told him directly NO. I didn't wait for him to finish the explanation and he thank me and hung the call.

There are plenty of vendors that I know that are doing p2p but I never for once trade outside the exchange because I don't want to take the risk of "trust". Exchange as middle man will not run away or change mind but vendors can run away and there is nothing you can do about it especially that our banks don't help to trace scammers. Avoid p2p transactions outside exchanges or without escrow even if it's your family member.

Jegileman

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Bybit made some upgrade in their p2p services where they allow some merchants to set price by themselves and also put the best payment option available for them. This new method they’ve introduced is only exposing their users using the p2p services expose to more scammers in the p2p space. When you click on most of this guys adverts, you’ll see them giving you a different rate much lesser than the current official rate, and when you don’t agree to that rate, they’ll ask you to meet them in person to get at the rate you want which they displayed, which is the risky part of it all.

Don’t even try to click on their ads for your p2p operation. The best way to filter them out is by putting in the amount range you want to sell using the fix rate of N1700 per dollar, input the bank you wish to receive your money from, which is the one you submitted earlier; then it’s going to filter everything out and give you the best price at that moment for the current official market rate. Those guys are scammers and you shouldn’t be lured by that amount to want to trade with them.

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Quote from: iBaba on November 14, 2024, 02:30:34 PM

Quote from: SatoPrincess on November 11, 2024, 06:27:52 AM

I no dey use Bybit most times so I never notice the change. I no go try am to face to face crypto transaction with anybody whether na for naija or na abroad. If I see say na only face to face trade option dey for this platform I go move to other platforms. I prefer make to sell at lower rate or buy at higher rate than to take the risk of meeting a stranger to transact trades. Even if CCTV dey my street I no go still risk am. Life no get part 2.

Physical p2p na wrong means of transaction for this era wey we they oo especially for this our Naija self. I wonder how Bybit will subscribe to that option to allow people be exposed to such danger in physical transactions. When E come to money matter nobody is to be trusted o.

Disparity in locations will be another barrier or hindrance to achieving this kind of transaction unless there's going to be a geolocation feature in it where the system will use the buyers location to find the seller nearby. In this case, it will take long time before this feature will be practiced across a lot of places.

At this time of life that we are now, physical trading especially that which involves money should be discouraged while non physical or online trading is encouraged.

I think it is risky to trade using physical p2p because of safety and unrevealed of identity. It will also cost you more because the transportation fee that you will use to reach the agreed location for the transaction to take place. It's good that you only do physical p2p to people that you already know or you go to any mall that can render physical p2p service.

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Quote from: Ever-young on November 14, 2024, 06:08:40 PM

Quote from: Igebotz on November 14, 2024, 05:59:31 PM

Remitano is not a Nigerian platform; they provide services to 50 different countries, including Nigeria. I've tried Remitano and stopped using it because their rates are usually lower than other peer-to-peer exchanges and most vendors don't sell at the listed rates; instead, they will start begging and bargaining.

I have experienced their begging before, which is what I normally do to report them. Anytime I use Remitano, I notice that the direct converting option they provide, which is from USDT to NGNR, is usually higher compared to the rate given by P2P vendors, and when you want to make a withdrawal, it's also faster to receive the money when you use either GTB or any microfinance bank like Moniepoint. They will only charge a fee of 200-500 naira; the fee always varies, but it has been more than a month now since I last used their service.

Anytime I choose to use Remitano which I have not used close to 2 years now, because I have other alternatives that offer me more convenient P2p trade without all the stress that vendors from Remitano normally put one through bargaining back and forth after accepting your offers, but yes the direct cryptocurrency Vs Naira feature has been a better option whenever I use remittance but because of the recent crackdown on cryptocurrency used naira bank account, I have removed my accounts details from all the P2p platform for safety, but if I must use their services again, then I will conveniently choose the direct currency conversion instead of opting for P2p trading with vendors.

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Quote from: Igebotz on November 14, 2024, 05:59:31 PM

Remitano is not a Nigerian platform; they provide services to 50 different countries, including Nigeria. I've tried Remitano and stopped using it because their rates are usually lower than other peer-to-peer exchanges and most vendors don't sell at the listed rates; instead, they will start begging and bargaining.

I have experienced their begging before, which is what I normally do to report them. Anytime I use Remitano, I notice that the direct converting option they provide, which is from USDT to NGNR, is usually higher compared to the rate given by P2P vendors, and when you want to make a withdrawal, it's also faster to receive the money when you use either GTB or any microfinance bank like Moniepoint. They will only charge a fee of 200-500 naira; the fee always varies, but it has been more than a month now since I last used their service.

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Quote from: SatoPrincess on November 14, 2024, 05:33:39 PM

Quote from: Igebotz on November 11, 2024, 06:51:26 AM

What other platforms are you guys using and do they have good volume like Bybit??

I use Remitano most times or when rate is good I trade with traders I have built transaction history with and trust. Remitano has a high trading volume but I don’t think they have the same volume as Bybit because Remitano is a Nigerian platform while Bybit is an international company and has more users across the world.

Remitano is not a Nigerian platform; they provide services to 50 different countries, including Nigeria. I've tried Remitano and stopped using it because their rates are usually lower than other peer-to-peer exchanges and most vendors don't sell at the listed rates; instead, they will start begging and bargaining.

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Quote from: Igebotz on November 11, 2024, 06:51:26 AM

What other platforms are you guys using and do they have good volume like Bybit??

I use Remitano most times or when rate is good I trade with traders I have built transaction history with and trust. Remitano has a high trading volume but I don’t think they have the same volume as Bybit because Remitano is a Nigerian platform while Bybit is an international company and has more users across the world.

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Quote from: SatoPrincess on November 11, 2024, 06:27:52 AM

I no dey use Bybit most times so I never notice the change. I no go try am to face to face crypto transaction with anybody whether na for naija or na abroad. If I see say na only face to face trade option dey for this platform I go move to other platforms. I prefer make to sell at lower rate or buy at higher rate than to take the risk of meeting a stranger to transact trades. Even if CCTV dey my street I no go still risk am. Life no get part 2.

Physical p2p na wrong means of transaction for this era wey we they oo especially for this our Naija self. I wonder how Bybit will subscribe to that option to allow people be exposed to such danger in physical transactions. When E come to money matter nobody is to be trusted o.

Disparity in locations will be another barrier or hindrance to achieving this kind of transaction unless there's going to be a geolocation feature in it where the system will use the buyers location to find the seller nearby. In this case, it will take long time before this feature will be practiced across a lot of places.

At this time of life that we are now, physical trading especially that which involves money should be discouraged while non physical or online trading is encouraged.

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Quote from: Churchillvv on November 11, 2024, 08:04:36 AM

Quote from: Igebotz on November 11, 2024, 06:51:26 AM

Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

Knowing the person is not enough reason to trade your coins for physical cash, what's stopping him from sending the money through bank transaction if the money is legal. Most of the vendors offering physical cash trade for your coins are kidnappers, Money launderers trying to wash their money clean.

Perhaps I have someone that I know very well, my secondary class mate whose a merchant on bybit we don't live too far from each other here in this city. Knowing him from grass root sometimes I do trade with him for cash sometimes he would just bring it to me. This kind of physical transaction can still be accepted for me if only I know what he person just as my home boy who is now a merchant.

even though you've known the person from Adam, who does physical transaction on Cash in this time? So if i want to carry out a trading of $100, I will take the physical cash from him and go source out ways of transferring back to my account or try to spend it all out in cash? I can never try that kind of thing.

We are living in an unsafe time that the closest person you know can even betray you. It's not that he can't give you the money oh, he will definitely give you the money since you already know his details but the implication is that if he has an evil intention, he can set you up because he knows you have some crypto or that you've made a transaction with him and you already have some quantity of fiat with you.

I can't carry out trading with someone that uses that as his preferable payment option. I don't know how it works when you want to release the coin if you're dealing with a complete stranger but for that to work, you have to meet that person in a set out location before releasing the coin to him and that's another form of trying out an unsafe act knowing that your phone and all your crypto asset can get stolen on that same spot.

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Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

My brother, to tell you the truth, I really dy surprise say person go even put such payment option for him adds, because to me once you tell me such, I don see you as a scammer, because the question I go ask myself is wetin happen to bank transfer wey person go come they talk say him go pay through direct payment physically, so the security risk dy too high for anyone to even agree to such.

Another thing their is distance, if me wey dy stay for port Harcourt, how e dy possible to take such trade from person wey dy stay for lagos? So to me, e no make sense in any way, na just stupid options of scamming strategy by these scammers, because I dy sure say no body in his right frame of mind go agree to such deal.

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Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..
https://www.talkimg.com/images/2024/10/30/KpAe1.jpeg

Omo the thing no make sense because the insecurity that’s going on in this country is very alarming before dem go hijack person ontop small money and for Bybit to allow something like that it’s very suspicious to me. So what if someone is outside the country and want to do that type of transaction, how the person go run am

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Quote from: Ever-young on October 30, 2024, 02:39:08 PM

I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..

I just dey notice am too, I am not sure anybody will get themselves involved in any physical exchanges, unless our government finally win that all the exchanges should delist the NGN p2p from their exchange, if not how can someone risk their life for a physical trade just because them get a good rate. But my question is, how you go take meet up the with the person for a physical exchanges, if you people no dey the same city? Or you go travel along the way to meet the buyer from where e dey for a physical exchanges? If that's it, it doesn't make any sense at all, if you check it well, those vendors no get too much people wey rate dem well, that one fit be a sign that is very risky because whenever we want to sell our coin through p2p, we dey normally look for a vendor who gets excellent reviews.

Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Even though I sabi the person well well, I no go tried such thing, because it might be a set up. Person dey follow you laugh no mean say him no fit cheat you, people fit get you through that person wey dey close to you. So make we no believe any physical trading, even though their rate is #2k per one $.

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Quote from: Igebotz on November 11, 2024, 06:51:26 AM

Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

Knowing the person is not enough reason to trade your coins for physical cash, what's stopping him from sending the money through bank transaction if the money is legal. Most of the vendors offering physical cash trade for your coins are kidnappers, Money launderers trying to wash their money clean.

Perhaps I have someone that I know very well, my secondary class mate whose a merchant on bybit we don't live too far from each other here in this city. Knowing him from grass root sometimes I do trade with him for cash sometimes he would just bring it to me. This kind of physical transaction can still be accepted for me if only I know what he person just as my home boy who is now a merchant.

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Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

Knowing the person is not enough reason to trade your coins for physical cash, what's stopping him from sending the money through bank transaction if the money is legal. Most of the vendors offering physical cash trade for your coins are kidnappers, Money launderers trying to wash their money clean.

Quote from: SatoPrincess on November 11, 2024, 06:27:52 AM

I no dey use Bybit most times so I never notice the change. I no go try am to face to face crypto transaction with anybody whether na for naija or na abroad. If I see say na only face to face trade option dey for this platform I go move to other platforms.

What other platforms are you guys using and do they have good volume like Bybit??

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Quote from: Igebotz on October 30, 2024, 04:50:54 PM

Noticed it a day after this topic Court orders crypto company to pay N140m to EFCC for illegal USDT/Naira trade was made, Bank transfer vendors also reduced as most vendors went offline. I guess the bad news caused a lot of vendors to deactivate. And for your question; no it's not safe, don't accept physical trading with a stranger as the chances of you getting robbed, killed is high.

We do not have CCTVs on our roads/streets - your security is not guaranteed.

I no dey use Bybit most times so I never notice the change. I no go try am to face to face crypto transaction with anybody whether na for naija or na abroad. If I see say na only face to face trade option dey for this platform I go move to other platforms. I prefer make to sell at lower rate or buy at higher rate than to take the risk of meeting a stranger to transact trades. Even if CCTV dey my street I no go still risk am. Life no get part 2.

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Quote from: Churchillvv on October 30, 2024, 07:50:58 PM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

The economy of the country is posing to cause some security issues and people are beginning to do dubious things for survival therefore on a normal everyone needs to priotise their security especially when dealing with things that involves money, it was a very sad story indeed and I see no reason why the victim decides to take such risk based on high selling rate, if only he had traded online with a good vendor that's trustworthy I believe such incident won't have occurred. Well, sometimes things like that are bound to occur for people to take precautions and I believe everyone who heard such story and was willing to risk it too would retrace their steps and take precautions, life is even more precious than money to we don't have to risk it at any cost therefore everyone should disregard physical trading and focus on trading online with a good vendor for security reasons.

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I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

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Noticed it a day after this topic Court orders crypto company to pay N140m to EFCC for illegal USDT/Naira trade was made, Bank transfer vendors also reduced as most vendors went offline. I guess the bad news caused a lot of vendors to deactivate. And for your question; no it's not safe, don't accept physical trading with a stranger as the chances of you getting robbed, killed is high.

We do not have CCTVs on our roads/streets - your security is not guaranteed.

Charles-Tim

legendary

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We discussed something similar recently. You can read about it from here: You fit trust Bureau de change operators if they start exchanging btc?

It is not a good idea at all. I also saw it on Bybit some weeks ago but which I can not try at all because of privacy reasons.

Ever-young

sr. member

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I just notice say for Bybit some vendors they specify say there payment method nah cash in hand, abeg anybody don try out this option here ?

With the kind security issue we they face for this country that kind deal no be Watin person suppose even agree to do in the first place, as I we don see for general board where such deal almost lead to something else.

I just wan ask if anybody don make use of that option before and also to warn against the danger of such deal..

Topic: Question about the new P2P option (Read 257 times)