Topic: Scam de for p2p transactions? (Read 387 times)

Oboy no be lie oo. One day Dem for scam me for binance.i place order to sell BTC for about 45 minutes, di guy tell me say im don pay di money make I released BTC give, and when I checked the release BTC link e don show yellow, but me I never received alert so I no come gree release di coins na show we battle for like extra 30 minutes, and later im come asked me to send im my another account, then I come see am di account di money come enter. Na so I also release di BTC give am and I come make comment say im be probable scammer.

The coins have nothing to do with the regular scams, we are the cause of our problems and we're the only ones that care capable of resolving the issue. Scam in cryptocurrency is increasing rapidly in the market, P2P is simply the worst sector of it, I've witnessed so many individuals becoming victims of scams simply because they intended to trade their coins P2P on binance 9r any crypto exchange, one need to be extremely careful when dealing with these buying and selling online. I always recommend to trade with a verified merchant on binance, that way, chances of getting scammed becomes slim.

Wnen we are talking about scam in cryptocurrency, the issue here is not with the currencies involved but the people eho are holding a particular digital currency not knowing how to maintain a security network with their assets and investment by rendering them vulnerable for an attack by scammers and hackers who were ready for whom to devour always, your keys and safety are in your hands because the network does not have any loopholes but rather, we are the ones that create an avenue for an attack on us through our being not vigilant enough.

Scam de oh!    I remember, for localbitcoins , if you no dey careful, dem go run am for you. 

Somebody wey suppose transfer 871k go transfer 817k, go talk say na mistake.

Another one go give stupid excuse say make una take the deal offline.

I report them sha.

You must not know the persin when dealing on P2P so long as you are making transaction on reliable centralised exchange, infact, most of the cex exchange are now integrating p2p cos of Nigerian, you know Naija is among the highest trader of crypto in the world, so alot of business and transactions are recorded to be coming from Naija, that's why almost all cex now introduces p2p on their exchange, huobi and bitget and other cex are the example of what I'm talking about, if you analyse am well, you go notice say Naija has the highest order of trades so far cos lots of volatility comes off Naija.

Me sef go like if CBN no uplift the ban on crypto in Naija cos many boys don use this P2P business get plenty gains, even arbitrary comes out of p2p if you sabi use am, so me go even prefer make the p2p dey for now, it's helping a lot.

No be small tin for money matter, trust na serious issue anywhere in di world. But which choice we get,  we must take di risk of trusting another person at one point or another. As you categorize dem make sense, so anyone wey you choose, you go know wetin fit probably happen at di end of di day. E no easy, after you earn money finish with bitcoin, to come exchange am to fiat, make you fit to easily spend am na another gbege. So as I take see am, di bottom line be say we must shine our eyes wella for anything money matter, especially if we de deal with people wey be total strangers. But dat one no mean say people wey you trust no fit to scam you.

I no know of any point way banks bin dey exchange cryptocurrencies. D most u go see b say, exchange go list out existing customers banks based on dere bid 2 buy certain range of bitcoin or satoshi.

Wen u dey buy on exchange wth p2p, d exchange go serve as escrow nd ensure say, u receive ur coin. Na Wen u no dey use exchange nd u dey run am direct wth d person way be matter.
Na risk nd u gats size am well.

No b onli 4 we naija shah bt, govmnt of many nations no dey in support of cryptocurrency bt stil, we dey hear say, Chipmixer dey court via aid to scam case.
Dis go mak u wonder why an arm of govmnt lik d judiciary con dey torchlight matter way relate cryptocurrency!

Dis na 2 tell u say, dere are levels 2 dis thing evn as govmnt no dey in support.

I've had a similar experience on Binance when I tried to sell USDT and the person I was dealing with kept claiming that he had already paid me because he had marked the order. I waited for him to credit me so I could release the coin for close to 10 hours before he finally canceled the order after much arguing. The sole purpose of this tale is to demonstrate how many individuals fall victim to scams the vast majority will mark orders, refuse to cancel them, and withhold payment. is just to take note and be very careful while trading p2p.

I understand this your tori and na wetin we been dey experience before. I fit categorize the p2p for Naija in two

1. the unstructured  - this one dey take place outside of any app. Na just between the buyer and the seller. No middle man. Dem fit run you street for this one and na only physical combat fit help you recover your funds. 

2. the structured-  this one dey take place for confam app software like remitano, binance and the rest of them. The exchange app na the middleman. E go hard for dem to run you street here expect say na you go lose guard.

I don get experience with remitano wey the sell click say him don send me money wey I nor receive am. After some hours of waiting I quickly report to their customer agent. the next day dem return my coins and find me another buyer. So you see this one dey better.

My advice be say avoid the local or unstructured p2p unless you sabi the trader personally.

Yes there is a potential scam threat in every p2p (peer to peer) transaction, it's never completely safe. Peer to peer transaction is a transaction which can be about buy and selling of crypto-currency the medium exchange can be crypto to Fiat, or crypto for another crypto.

You can actually do peer to peer on an exchange with good track record or you can do it with individuals some popularly refer to them as vendors, the former is safer than the later, but using escrow on both medium cab bring down the risk of scam. Also if you be the sell then make you check and confirm your bank account has received payment before giving the go ahead to release funds.

@Kelward
That's not true, it's all depend on kind exchange site you're trading p2p on, I can highly recommend binance, it's definitely not like that, although the the offer you see there is not from binance but Binance serves as a platform to facilitate P2P trading, but the offers are provided by users on an individual basis.
If you're selling, never release the assets before confirming that you have received the funds from the buyer. Please note that some payment methods buyers use are not instant and may face the risk of chargeback.
And if you pay for a coin and the seller don't release the coin, you can file for report and the proof of your transaction if it's been reviewed, and the sense scam there. They will restrict the seller and suspend the account and release your coin to you.
Shikena

But i trade several times there and make profit there and have never encounter the problem mentioned.

My broda that kind business na the worse type of business because there is every possibility say the person fit no either release coins or even pay you money in case you want sell coin so me I know think of doing such act anyday since crypto sef na transaction wey no reservable and e no get trace to the person so even if the person run the matter don close be that.

I hear you crystal clear and thank you for di further enlightenment. Verification de very important and no overfamiliarity about money matter even for our board here. I read di link way you show me and I go do di needful if I want to transact p2p for our board. E no de easy to do business with person wey you no de see face to face, and believe say na di reason why scam de for online businesses well well.

Whether the Bitcoin ban is lifted or not, if you are not cautious, you will most likely be scammed. Do not trust in crypto, only verify, and do not make any transactions on this board without escrow unless you are dealing with a resputable user. I provided a rule for this, as well as how and with whom to trade. Crypto has no trust, always verify first.

The suspension of di CBN governor fit to be a blessing for bitcoin for inside Nigeria, because di new Oga fit to decide to change some of dem policies and come comot di ban on bitcoin, dat one go sweet me pass. I de reason say e go de more convenient to de exchange naira and crypto inside centralized exchanges of our banks, to avoid dis uncertainties of being scammed.

For p2p transactions between two individuals, I don understand say telegram and WhatsApp na no go area for transaction matter. However from my observation so far for dis our naija board, I see say trust de for here, a member even boldly make recommendation for anoda member, dat act follow increase my confidence for our board.

Centralized exchanges like Binance and Kucoin constantly work to protect our money and reduce the rate of fraud on p2p transactions. They hold the cryptocurrency of one party in escrow and urge that party not to release cryptocurrency if money is not being received, ensuring that both parties successfully completed the trade. In this approach, it is harder to lose your money or cryptocurrency and the rate of p2p scam is decreased. You can file an appeal and get your money back once it is established that you are innocent if a party who you released your bitcoin to fails to send his money.

Also, Always avoid telegram groups that offer p2p service na scammers full there, them go de use other accounts pretend as if dem de carry out successful p2p service but meanwhile na their fellow people de send the messages on that group so other people go think say everything de legit. To be safe make use of p2p services on exchange or also there are trusted members who offer escrow services on the forum that you can make use of.

I thank you my oga member, for your clarification. Bitcoin na decentralized digital currency, so e no really be business on it's own like dat, di point is well taken. I like as centralized currencies no get any influence on bitcoin, so dat one make am a very good place to do transactions. Aldo I de reason say trading on bitcoin na work or job, so fa di person de earn income directly from di trading. But I try understand wetin you explain say if people dey skillful enough to engage in crypto related work wey dem go get paid for bitcoin, either by trading or investment, to make profit.

Just as others dun talk na so e dey, make I just add small mouth for the mata too. We get two ways of exchanging wey be centralized and decentralized. All this binance dem, and other top exchanges wey be centralized exchange, if you use them run P2P, your funds no fit loss to some extent because if you fit proven say you never received the money (that's if you they sell) and you dun send the money (that's if you they buy) then una go enter appeal court (for the exchange) una go prove who dey lie and if you win you go receive your Bitcoin or money. Scammers dey those platforms too but dem dey in the minimum because dem get to do KYC before dem become merchant to the sell and buy Bitcoin.

Now for decentralized P2P wey you dey do with another human being without any website, e better you only trade with person wey you know very well if not dem go scam you. The scamming fit dun reduce but some persons still dey fall mugu and that's why we still get this type of scammers full Telegram and WhatsApp. If you no wise dem go scam you and dey very cautious of all those high fee merchant because na them be the scammers. Government no ban Bitcoin but ban banks from trading Bitcoin and that's why you no fit trade Bitcoin directly with banks but things fit change, Tinubu dun suspend the current CBN governor now now.

Di use of p2p is not only in Nigeria but the whole world. And if you dey use P2P in Nigeria make sure you know di person and trust the person. U can use Trusted Exchange for the P2P as well. In binance if you pay someone and di pesen never release di coin na dem go release di for if you provide all di evidence day you have made your payment. And one good thing be say if de pesen e dey dis forum you go fit create thread 4 im head sae im don scam u and im reputation for di forum go scater and spoiled.

Point of correction my brother, Bitcoin is not a business per say, but a decentralized digital currency that is independent of it's own and not controlled by anybody whether bank nor government. But just that it could be used for doing business as a medium of payment for goods and services, and not that it is a business on it's own. Secondly, legalizing Bitcoin on it's own do not create job, unless people are skillful enough to engage in crypto related work and get paid in Bitcoin, trading or investing in it for a long term so as to gain from profit.