Topic: what is wrong with Bybit? (Read 217 times)

I am all in for freedom of speech, but when you pop out of nowhere and shill an exchange that had shady practices sometime back then, I don't think anyone here can take your exchange seriously. This is definitely not the first time Bitget has been accused of using a shill service here. It's a heavily frowned upon behavior which even yields no results, so I still wonder why they keep thinking shills are the best marketing option available.

This has been going on for a while. Even trending on twitter atm. I'll suggest you try bitget p2p. Their merchant are fast in trading and their CS is active and very professional

They use to make a warning to everyone engaging on p2p trades that they must not confirm reception of the required amount of money or crypto until they make the confirmation into their respective account and be sure, also, they say that they wont be responsible for any loss of coin as hat you're doing is at your own risk, they are only serving as escrow for the two parties involved, so its not about the exchange but our individual attentiveness towards what can cause loss on our asset.

I use bybit but I'm not staying on these exchanges P2P platforms with doing my trades because I've heard that a lot of scammers are in there. And if I am going to use them, I'd always verify if the transaction goes through and will make sure that both ends have already did our parts. I have contacted support of bybit a few times but they're responsive but I think with these kind of concerns, it really takes time. This don't only happen in bybit, even in Binance's p2p, there are a lot of scammers so always verify and check your transactions before sending to the other end.

p2p markets are swarmed with scammers. i tried trading the other day, and one of the buyers was trying to call my phone thinking I'm one of the scammers. i told her, the coins were escrowed, they would be sent to her wallet after approval and of course, i would approve them.

after it was sent, i returned the call and asked whether she got it. she said no while the platform already marked the coins sent. at first, she accused me of being a scammer but she's the one trying to scam me by asking for her money back. while the coins are already sent. this is not in bybit though but just a warning , it could also happen to you.

This is not uncommon in all P2P platforms of the world, so you can't blame Bybit outrightly for this. As much as I have my own reservations and complaints against Bybit, I am sure that they are not always happy that their customers are being scammed within their system. I've witnessed enough in Binance and at least two times last year, that some guys wanted to scam me through the P2P, so it is we who should be extra careful. This is why the exchanges are also issuing advice and disclaimers, and also make sure that we check/confirm some certain terms and conditions in addition to our buy/sell transactions with them on every transaction.

This is because people are complaining but at times it is beyond them, we should help them too by being smart. You can imagine those who are verifying accounts one way or the other but the account can't be traced to them, it is never uncommon globally. They will come with the documentation and access numbers you will not be able to detect it was fake, and they get verified. That's the issue here.

Nevertheless, they will continue to kick out the bad heads among their customers upon reporting such, which will still change nothing as they (perpetrators) may open another account to continue scamming. I am sure it is never the company's fault, and we should be more vigilant as their platform users.

I haven't made use of bybit at anytime right now though I know about the exchange so can't say anything little or much about them. Nevertheless, there are laid procedures and principles to be followed when doing a p2p transaction in an exchange and sometimes newbie traders or reckless traders fail to abide by these principles and then turn around to blame the exchange they use for a mistake or fault of theirs. Example, when a trader send/approve a trade when he has not received and confirmed payment yet. Is that a fault of an exchange? Am not saying this is the case with your mutual but am just giving instance of certain case on how some traders lose their money in p2p trade.

I don't know how many trades I have done such platforms. Probably over 1000. I am not a merchant, but not at any instant did I ever lose money to scammers. Of course some have tried to scam me in the past but all in vain.

I follow the p2p trading rules to the dot. There is no way a scammer is taking away your money unless if you accept to be paid using reversible payment methods such as PayPal.

Bybit is not an option for me because of the bad experience I hard with them on the p2p market where a buyer paid me through third party account and I was asked to refund the money to the sender account to avoid regulatory issues, when I refunded, it took bybits support almost 40 hour's to cancel the order and refund my assets.
I have not lost money on that excahge before but I know that their services and ventures are full of shady behaviours so I avoid using that exchange for anything.

No, although I tried it before and I am not sure what is wrong with it, however have currently been using Bitget P2P for some time and they have experienced merchants with proactive traders.

I haven't faced any problem so far, as I have used all three exchanges P2P. Like Binance Exchange, Kucoin Exchange, Bybit Exchange but so far I have not had any problem. But maybe Bitbit exchange's P2P is a bit slow entirely because people are late paying. However, if you confirm the release at the time of release, the most security will be achieved, if you give an approximate release, then I think it is normal to encounter problems.

Until I know the full details of the story, I'll be bold enough to say the person who was scammed was careless. It should be common knowledge that CEX P2P would be filled by scammers, that is why the platforms make different ways to make sure you're not scammed. If you follow the rules given by the platforms you'll hardly ever be scammed.

Bybit has a 15-minute transaction time and if the coin or the funds have not been transferred the transaction is canceled. When the other party says he has made the payment, you are to check if you've received and even before you release the coin, the platform warns that in no account should you release the coin unless you've confirmed payment and confirmed that the money is the actual amount you're to receive. So except the person was totally nonchalant about these measures, I don't see how he can be scammed.

Why do you release escrow if you suspect that someone is scamming you? P2P on CEXs provides you with a Bitcoin address that is completely controlled through the platform. exchange also possesses the account ID data. If you are defrauded, you must learn to avoid it in the future or create a buy or sell request and set your own rules.

Until now you are lucky, that's all you can say for yourself :-). You will never know a bad day will come and you will become a victim. It's always good to stay alert all the time and follow the official guidance, common sense and experience. Good luck to you.

I have not used ByBit but I always do P2P exchanges, there are twice I had bad experience. Fortunately I did not lose large amount of money that I was not able to recover the loss.

I can not face such issue because nobody was unable to scam me even when I am using decentralized exchange P2P and also when I am trading directly with people.

I heard that Bybit P2P customer support are slow to respond but I have used the exchange P2P many times and no issue of taking it up to customer care. If you follow the rules of P2P trading and be wise about it, you will have less issues and no loss of money.

Recently, Bybit has been hosting scammers on their P2p platform and a lack of quality support has aided these unscrupulous beings. A mutual was scammed of $800+ dollars some days ago. Anyone facing same issues?