reasons to buy from individual? | Bitcointalksearch.org

neochiny

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Frankly, I prefer buying from exchanges as well. They're relatively safer, certainly less of a hassle and incredible fast.
Especially with my local exchange where I buy directly from the exchange, no need to look for p2p. The prices are steady and support is very responsive.
Of course, there are cons, as there always is. I had to verify. (No choice really as the service was really convenient and choice was limited if not nonexistent, especially if I also to wanted convert to fiat.) Cry

Anyway, possible reasons I can see that would make me buy from an individual:
1. Trust - If I personally knew the person or is recommended by someone I really trust.(not about reputation or forum trust)
2. Price - there's just no possibility of a discount with high volume buys from exchanges.
3. Convenience - if we both could agree on favorable/easy enough terms. (where to send,what to use)
4. Step 1 is a must.

traderethereum

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i am not prefer to buy btc from person in the forum without seeing that person have a good reputable because i don't want to make trouble to get scam. i am prefer to buy bitcoin with my friend that always ready stock to buy and sell bitcoin and so far its a safe way for me.

outatime1

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If you buy from a site like coinbase, you have to give them a lot of private information and a bank account. However, if you buy from an individual, you may be anonymous depending on the situation.

rik3

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Quote from: bittraffic on July 10, 2016, 09:57:05 PM

What are the possible reasons why someone will prefer to buy btc or any other crypto to someone from the forum particularly than on the exchange sites?

There are Only Two Reasons Of Buying Bitcoins From Individuals On Forum or Personally:-
1) First If all We Don't Need any Identity Verification If we Want to Buy Bitcoins Online and Buy From Individuals....
2) Then It is Much Safer and Cheaper if You Buy Bitcoins From Your Known Bitcoin Exchanger.....

goinmerry

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Quote from: klf on August 21, 2016, 10:00:51 PM

Quote from: garundang on August 19, 2016, 01:05:35 AM

i think it is faster to buy from individual and you don't have to give that much info to him

Yes, that is true. Mainly people buy from individuals primarily for some reasons they don't want to share their personal details to buy bitcoins either through bank or any other ways people can track. But if we want to buy faster nowadays there are places we can buy almost instantly with bank accounts, so I think the main reason is they want to hide the identity.

It is also cheaper. When you buy at a paid website then they need their investment back so they put larger price in their items. Same with exchanges. Altcoins and bitcoin have a larger price compared when you buy in a person where you could talk where the price is just at the middle of the buy and sell price.

klf

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Quote from: garundang on August 19, 2016, 01:05:35 AM

i think it is faster to buy from individual and you don't have to give that much info to him

Yes, that is true. Mainly people buy from individuals primarily for some reasons they don't want to share their personal details to buy bitcoins either through bank or any other ways people can track. But if we want to buy faster nowadays there are places we can buy almost instantly with bank accounts, so I think the main reason is they want to hide the identity.

PremiumCodeX

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By following the discussion, I realized there is a small confusion about what the more cost-effective method is: exchanges or individuals.

It seems to me that in the prices of small amounts and safety the exchanges are better.

Individuals may be better in the prices of large amounts ( because of the negotiation possibility ) and protecting your anonymity.

It is up to you to decide what the more important attributes are for you: fine prices on small amounts - funds safety OR negotiation ability - anonymity.

Some people often find doing transaction with individuals faster, but being cautious is always advised especially if the provider wants to get you do the transaction REALLY fast ( like it was in hurry ). Feel free to add more to these arguments!

garundang

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i think it is faster to buy from individual and you don't have to give that much info to him

Dudeperfect

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Although I prefer buying crypto coins from exchanges, I still feel that buying from individual is much better. You don’t have to create new account, no need to submit verification documents (well how can we stay anonymous for exchanges if we are giving our identity documents) so buying from individual gives you real sense of crypto that is anonymity. You can negotiate on price with individual which is not possible on exchanges. These are the benefits especially if amount is larger and since I usually buy in smaller amounts, I buy from exchanges.

noictib

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Quote from: bittraffic on July 10, 2016, 09:57:05 PM

What are the possible reasons why someone will prefer to buy btc or any other crypto to someone from the forum particularly than on the exchange sites?

only someone not all person prefer for individual exchange . i think exchange sites are better platform to exchange but to store money at exchange site is not safe so someone prefer for this .

JITENDERPAR3

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i think KYC deatil is main problem and not to support of all type of payment method are problem . in personally we can understand in better way our requirement . but in my openion exchange sites are better then other way .

AmatoInazuma

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Quote from: freundes on August 18, 2016, 04:47:41 PM

As for me i prefer buying from exchange as the rate are far better than buying from individual

Me too , and compared with security i'll stick on exchanges sites because more safer than buying individual , but if you need it for urgent thing or the sites don't have a currency you want to exchange , you should go with individual buy.

freundes

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As for me i prefer buying from exchange as the rate are far better than buying from individual

Haliburton

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Normally you got a a better rate of a percentage with trading with an individual then you would with a virwox or another exchanger. Those fees can run into the 40% some have said which is outrageous to say the least. Embarrassed

xIIImaL

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Quote from: iqlimasyadiqa on August 18, 2016, 09:22:21 AM

Quote from: bittraffic on July 10, 2016, 09:57:05 PM

What are the possible reasons why someone will prefer to buy btc or any other crypto to someone from the forum particularly than on the exchange sites?

for me the trust and security are the most important point. in this forum, we can see the various activities of the user here. we'll see how he argues, and here we can make sure that person is one who can be trusted. but they all still have to refer to the existing regulations.

But in this forum I have noticed too scams and fraudulent only. There is security each and every person but among all the people who is using bitcoin
Until government took over bitcoin will have these kind of issues.

Haliburton

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You can always negotiate with a person on a set price to buy while you can not with an exchange system. Embarrassed

Pursuer

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Quote from: PremiumCodeX on August 18, 2016, 04:01:53 AM

I read that it was cost-effective to buy from individuals instead of exchanger companies and the trust was the price you had to pay for choosing the individual way. However, I also read the your opinions above and wondered them because more than one of you wrote that it was cost-effective AND safer to buy from companies. May I know what exchangers did you mean exactly? Do we have an up to date list of these companies on the forum?

it is NOT cost effective to buy from individuals because an individual will always sell bitcoins to you at a much higher rate than the current exchange rate.
for example if bitcoin is being traded at $574 in major exchangers an individual for example on localbitcoins.com will sell bitcoin to you at the rate of $600 and sometimes even more if they can and see you are in need.

for the list google bitcoin exchange and you will find them (bitfinex, btc-e, kraken)

iqlimasyadiqa

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Quote from: bittraffic on July 10, 2016, 09:57:05 PM

What are the possible reasons why someone will prefer to buy btc or any other crypto to someone from the forum particularly than on the exchange sites?

for me the trust and security are the most important point. in this forum, we can see the various activities of the user here. we'll see how he argues, and here we can make sure that person is one who can be trusted. but they all still have to refer to the existing regulations.

PremiumCodeX

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Metaverse 👾 Cyberweapons

I read that it was cost-effective to buy from individuals instead of exchanger companies and the trust was the price you had to pay for choosing the individual way. However, I also read the your opinions above and wondered them because more than one of you wrote that it was cost-effective AND safer to buy from companies. May I know what exchangers did you mean exactly? Do we have an up to date list of these companies on the forum?

waterholeIO

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Buying from individual directly is not normally recommended. It takes a lot of trust in that person's reputation to buy directly online from them. I did, however, had several returning and frequent buyers who ended up texting me and completing the transactions quite fast and they were fine with the AML/KYC policies and trusted me in having their personal information.

An exchange is a large entity that, though mostly secure and safe, are impersonal compared to an actual individual that can cater to your need at a particular time (like a discount, a quicker release, or even lending though I've never loan out BTC even after 50 trades with a person).

Topic: reasons to buy from individual? (Read 4098 times)