Scammed on LocalBitcoins - page 2. | Bitcointalksearch.org

JC btc

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Quote from: justdimin on October 29, 2019, 02:43:42 AM

If you don't want to be scammed I would suggest using local vendors that has your own currency and connections to your bank. Most of the time (almost all of the time) if they have a automatic website like that they are legit, even if you are not sure you can check online and see their results.

Maybe in Africa it is not quite common yet but that means even better because you can start one yourself which would be super profitable, there is 4 in my country hence why I can't really make one but if my country had none I would have get all the loans I can to start a new one because I know one exchange in my country and we talk with the owner time to time and they are super profitable. So either you would find a local exchange that does your currency or you find a good business opportunity.

Yeah you are right but he seems like he was just promoting it, it was a new tricked now to create fud/advertising. He didn't even provide proof of his accusations.

Anyway, if ever it is real, then he should contact the support and not here is he should provide proof so that users can be warned if it is real.

justdimin

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If you don't want to be scammed I would suggest using local vendors that has your own currency and connections to your bank. Most of the time (almost all of the time) if they have a automatic website like that they are legit, even if you are not sure you can check online and see their results.

Maybe in Africa it is not quite common yet but that means even better because you can start one yourself which would be super profitable, there is 4 in my country hence why I can't really make one but if my country had none I would have get all the loans I can to start a new one because I know one exchange in my country and we talk with the owner time to time and they are super profitable. So either you would find a local exchange that does your currency or you find a good business opportunity.

_AlexX

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Quote from: ?? on ??

Possible he get scammed either by paypal charge back or by bank transfer, but he should post proof and see how scam happen so other users not fall on that, but there is no localbitcoin fault.

May I ask how the bank transfer can so easily be refunded?
We never had any case so far with bank transfer (international or domestic) on Vertex.

Also be aware that a bank transfer, once accepted by receiving bank and added onto your account, is completed and theoretically, irreversible with only couple of exceptions.

see below:
"
The only available options for reversing a completed transfer are if the sending bank made a mistake, if the payment order was a duplicate of a previous order, or if the order is for an amount greater than the beneficiary was entitled to receive under the transfer. In those cases, the beneficiary's bank will recover the funds improperly paid to the beneficiary.
"

Maybe it varies from country to country, but above is for swift.

OGEOS

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Quote from: Suslived on October 28, 2019, 02:52:38 AM

Quote from: robbiearchibald10 on October 22, 2019, 12:55:20 PM

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new

Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear about it. But, how do you get scammed on LocalBitcoins?

Isn't localbitcoins a place where in order to trade bitcoin or other cryptocurrencies, you have to meet the other person face to face in real life? Haven't used it in a while but I imagine if you meet someone in person you don't let him/her just walk away until the trade is completed.

They took that option away - I would assume its a PayPal issue. Honestly not sure how else it could work out scamming someone.

OGEOS

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Quote from: Suslived on October 28, 2019, 02:52:38 AM

Quote from: robbiearchibald10 on October 22, 2019, 12:55:20 PM

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new

Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear about it. But, how do you get scammed on LocalBitcoins?

Isn't localbitcoins a place where in order to trade bitcoin or other cryptocurrencies, you have to meet the other person face to face in real life? Haven't used it in a while but I imagine if you meet someone in person you don't let him/her just walk away until the trade is completed.

This person probably did a PayPal transaction and reversed it directly after. It happens a lot. You can also be sending as a friend and as you send the person can cancel the transaction.

There are various ways you can do it, but no matter the platform, you need to be more careful and ensure you are doing the correct action at all times.

BitHodler

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Quote from: _AlexX on October 25, 2019, 02:34:09 AM

in fact, you don't need the darknet to buy fake accounts on almost any platform, just go into some telegram groups and you see many offers there.

It doesn't matter what place it is, one should never buy fake accounts of any platform because you're asking for problems.... it's against their terms and it's even illegal by law so you're not doing yourself a favor there.

I rather just avoid dealing with any platform that subjects people to KYC verification than to buy some shitty accounts exposing me to so many unnecessary risks. I know it's tempting because it looks so easy, but don't do that....

Nowadays there is so much going on locally that depending on what country you are from, you should be able to relatively easy find someone to exchange Bitcoin and potentially some altcoins with.

Suslived

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Quote from: robbiearchibald10 on October 22, 2019, 12:55:20 PM

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new

Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear about it. But, how do you get scammed on LocalBitcoins?

Isn't localbitcoins a place where in order to trade bitcoin or other cryptocurrencies, you have to meet the other person face to face in real life? Haven't used it in a while but I imagine if you meet someone in person you don't let him/her just walk away until the trade is completed.

ecnalubma

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Quote from: btc_angela on October 23, 2019, 12:16:43 AM

Is this thread one of this? Don't get tricked by hidden spam on this forum.

A newbie trying to hide his trick by asking questions about a certain services which majority of us never heard before. Sorry, but this looks like it, so I don't like to fall for this kind of trick here.

Yeah probably sort of, why don’t they just direct their pure intentions than creating a fabricated issues just to catch readers attention. Considering it a fail marketing when they use this kind of strategy and expect readers will less interested in this kind of company tricks.

_AlexX

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Quote from: X-ray on October 23, 2019, 07:00:33 PM

Quote from: Henri Cartier on October 23, 2019, 06:40:20 AM

I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

I don't recommend P2P exchange simply because it is too risky there are plenty of safe alternatives out there and some people would still proceed using P2P exchange. Even if there's AML and KYC policies doesn't mean it's 100% safe there are plenty of datas sold in the darknet and they could just use that to fake the KYC. Not that I'm advertising them but website like coinbase or binance is a better alternativem and is a lot more safer than dealing with individual who you don't even know how their face is.
When you are using P2P it's your ability to choose the person to make a deal what matters most. Even the platform where you want to make a deal doesn't really matter that much localbitcoin or vertex basically the same thing.

Honestly, I feel p2p is on a long run much safer. First of all, you keep your funds in your wallet at any given time. Then you can keep your privacy, but not using a centralized exchanges deposit and kyc combination.

I agree with you with KYC is not really making it very much safer. in fact, you don't need the darknet to buy fake accounts on almost any platform, just go into some telegram groups and you see many offers there.

Calling crypto exchanges to be the solution for the average john doe, is like saying that everybody should get their foreign currency when they travel through a FX trading platform. Unfortunately, 98% of the people (maybe the ones who dont' care about bitcoin right now??) do not want to know what an exchange is or what an an order book or a market order are

X-ray

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Quote from: Henri Cartier on October 23, 2019, 06:40:20 AM

I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

I don't recommend P2P exchange simply because it is too risky there are plenty of safe alternatives out there and some people would still proceed using P2P exchange. Even if there's AML and KYC policies doesn't mean it's 100% safe there are plenty of datas sold in the darknet and they could just use that to fake the KYC. Not that I'm advertising them but website like coinbase or binance is a better alternativem and is a lot more safer than dealing with individual who you don't even know how their face is.
When you are using P2P it's your ability to choose the person to make a deal what matters most. Even the platform where you want to make a deal doesn't really matter that much localbitcoin or vertex basically the same thing.

MathGame

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Quote from: watergold on October 23, 2019, 02:53:40 AM

Quote from: joniboini on October 23, 2019, 01:06:59 AM

Quote from: robbiearchibald10 on October 22, 2019, 08:34:22 PM

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

It is true that I have to be aware of that I have never seen this forum discussing Vertex exchanges and I have just looked at this thread, but I wonder why the OP wants to try this exchange, there are still many safer exchanges? Don't you think again?

Dude forget vertex go to Binance where you can trade like a professional. I don't advise people to use small cryptocurrency exchanges these days due to so many numbers of exit scams that were done by the small exchanges. You should avoid using small exchanges to avoid getting scammed by them.

_AlexX

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Quote from: audaciousbeing on October 23, 2019, 05:44:29 AM

I can see alot of people suggesting Paxful for OP but the truth is that irrespective of the platform you trade, you run the risk of getting scammed if you fail to abide strictly by the rules sets by the administrators of the platform. I have seen people get scammed on Paxful despite the various protective measures put in place and the simple reason for that is not following the rule. I seen situations where people who felt the charges from Paxful is too much, or they felt they could get a better deal by having the discussion outside Paxful such as WhatsApp so they have a good deal, some would even be scoped to inform Paxful escrow to release the coins claiming fiat transfer is due to network among all issues. So, my advise is you should stick to the rule and you will be fine.

On Vertex for example, there is no communication at all between the two parties. A chat just makes things more complicated. We know that from over 10 years of OTC trading experience, of course not just crypto.

Let us take PayPal as example. we do only allow a BUYER to use a paypal account he verified that he also has access to its email address. reducing the risk of "dispute: i have not made transaction". Then the BUYER is asked to put a reference code to the payment instrcution and ONLY SEND AS A FRIEND (also to avoid ridiculous fees of PayPal).

Now the seller, upon confirming that he received the funds has to confirm that

a) the account the money is coming from is the one we tell him it should be coming from
b) the buyer has put the reference code
c) has sent as a friend (not always available)

if a) and b) are not met, the seller should just refund the money and not confirm he received it. so simple, yet some users might then ignore our advise and go ahead.

In general, it is much better to use bank transfers. We have not experienced a single scam attempt with bank wires, not saying it wouldn't be possible.

Henri Cartier

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I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

audaciousbeing

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I can see alot of people suggesting Paxful for OP but the truth is that irrespective of the platform you trade, you run the risk of getting scammed if you fail to abide strictly by the rules sets by the administrators of the platform. I have seen people get scammed on Paxful despite the various protective measures put in place and the simple reason for that is not following the rule. I seen situations where people who felt the charges from Paxful is too much, or they felt they could get a better deal by having the discussion outside Paxful such as WhatsApp so they have a good deal, some would even be scoped to inform Paxful escrow to release the coins claiming fiat transfer is due to network among all issues. So, my advise is you should stick to the rule and you will be fine.

_AlexX

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Quote from: robbiearchibald10 on October 22, 2019, 12:55:20 PM

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new

Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear that. As CEO of Vertex itself I know that this could also happen on Vertex if you do not pay attention to instructions (not accusing you of doing so).
The most common is the PayPal refund by a customer. This is why we insist on having the buyer add a payment reference and must validate his account on paypal with us first.

So far, not a single refund has been grated to scammers with this approach, however, if you just accept payment coming from a random account, you might get scammed.

The same applies for localbitcoins or any other p2p platform. I would assume that most scammers are active on every single platform, including Vertex but they can't do a PayPal scam if you follow instructions.

Regarding being scared to trade more than 100. please feel free to contact me in a PM and maybe I can help you overcome that uncertainty.

watergold

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Quote from: joniboini on October 23, 2019, 01:06:59 AM

Quote from: robbiearchibald10 on October 22, 2019, 08:34:22 PM

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

It is true that I have to be aware of that I have never seen this forum discussing Vertex exchanges and I have just looked at this thread, but I wonder why the OP wants to try this exchange, there are still many safer exchanges? Don't you think again?

joniboini

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Quote from: robbiearchibald10 on October 22, 2019, 08:34:22 PM

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

btc_angela

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Is this thread one of this? Don't get tricked by hidden spam on this forum.

A newbie trying to hide his trick by asking questions about a certain services which majority of us never heard before. Sorry, but this looks like it, so I don't like to fall for this kind of trick here.

nasipadang

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Quote from: robbiearchibald10 on October 22, 2019, 12:55:20 PM

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new

Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

the localbitcoin is a large p2p platform, if you are fooled you can report it, but don't expect returns if you have already made a transaction. I have never used Vertex Market, but some of my friends have used it and it is safe. I always use local exchangers in my country, and the exchanges are safe so far.

adroitful_one

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I've used Paxful quite a bit over the years and I've never had any issues. I can vouch for Paxful. They put your money on hold in escrow until the trade goes through. So, it's really hard for someone to scam you on there. It's really safe. Especially if you only trade with people with good, positive feedback. Virtually no chance of getting scammed.

Topic: Scammed on LocalBitcoins - page 2. (Read 718 times)