You are right, no need to enter into P2P hassle when there is a possibility of selling coins on Exchange and get money to your Bank Account easily from Exchange's bank account. It will help you in two ways - first you are always getting clean money and second it will help you in income tax filing because all you need to do is show all transactions coming from Exchange as earnings.
But in the case, situation like past re-appear and normal exchange operations are disrupted again (although highly unlikely), I will suggest you to make sure about two things:
1. Use P2P platform which has provision of verifying trader's bank account before allowing to trade.
2. Use P2P platform which only allows trader to deposit and withdraw to single bank account (the one verified by the Exchange).
For more security or if you trade high amounts, use P2P Exchanges which have separate rating system. For example, on WazirX you have option to pick trusted buyers/sellers using XID. When you place orders under such system, platform makes sure that only trusted traders buy or sell from you.
You're so right. Using a centralized exchange certainly seems better after hearing about that guy's case. At-least you don't have to worry about where your money came from.
As for P2P, I don't know any platform that does that verifying buyer's bank accounts. They should do that actually to stop these kind of scams from happening and make BTC trading more safe and user friendly.
WazirX sure seems like are taking things really seriously and providing user's all the best options possible so they can trade without worries. Which is good for them, the user and hopefully it will be good for bitcoin's uncertain future in India.
Thank you so much for your input!
If bank is not saying anything then better try to get the things unofficially or better don't do anything until they start the investigation but he can't use his bank account until the investigation gets completed and it may take years in our country for sure.
Yes. I don't know what you mean by get things done unofficially? You mean like bribe the peon or something? I mean it might work or not but I guess you could try that. And yes, the bank account would remain frozen until they get to the bottom of the things. And they might have lot on their plate already. So it would take a very long time.