Which of the following P2P exchange you trust?

TheUltraElite

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Quote from: Bitcoin Smith on December 16, 2023, 02:20:41 PM

If you have BTC, and now you need money then there is no harm in selling it and that is what money is supposed to be used for.

BTC has potential to grow, but if you don't feed yourself today, then there is no point of hoarding the food for the next month.

Spend the BTC only in case you are in need of money. Otherwise hold the BTC because its potential to be huge in the future. Coming to the Indian context the lack of exchanges, huge taxation, its better not to sell at all. Use fiat money from your salary to pay for bills and keep bitcoin locked up for some betterment in future.

P2P is full of scammers, I dont know which one you can trust. With that, its better to wait it out.

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Quote from: Bitcoin Smith on December 17, 2023, 03:25:27 AM

The congestion has been going on for the last 2 months and we all know it is temporary, and it will not affect the growth of BTC in any way, we are just less than a year ahead of halvening so there is good chance that BTC price will be doubled, so the holders are going to keep HODLing it. In India particularly there is no business that accept Bitcoin for payments, there used to be one restaurant but RBI shadowbanned it they went off so that part we don't need to worry about it now and the crypto investors in India will come clean only if government comes up with fair tax rates or else they are going to keep losing millions in revenue.

I today saw a post on Reddit where some was trying to buy $40 worth of Bitcoin, fee for that transaction was $23. Transaction fees are crazy at the moment and the whole network is so congested that it cannot be described. I have never seen insane amount of Satoshi high priority transactions. Reminds of the time when Ethereum network was going through such a situation until they decided to shift from POW to POS. It will take a hit in adoption of Bitcoin in the long run if the situation remains the same for some more months.

Bitcoin Smith

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Quote from: Bureau on December 17, 2023, 01:25:35 AM

Quote from: Bitcoin Smith on December 16, 2023, 02:20:41 PM

Quote from: Bureau on December 08, 2023, 12:13:54 PM

Whereas we all are busy selling out Bitcoin rather than investing in it by buying more on Bisq.

If you have BTC, and now you need money then there is no harm in selling it and that is what money is supposed to be used for.

BTC has potential to grow, but if you don't feed yourself today, then there is no point of hoarding the food for the next month.

Considering the current transaction fees and congestion in the Bitcoin network it is better to avoid making any transaction. Those small investors who have been DCAing will be affected. Small businesses won't be able to sustain such transaction fees and will shift to another blockchain. Wherein the potential for it to grow and become more popular will be dented.

The congestion has been going on for the last 2 months and we all know it is temporary, and it will not affect the growth of BTC in any way, we are just less than a year ahead of halvening so there is good chance that BTC price will be doubled, so the holders are going to keep HODLing it. In India particularly there is no business that accept Bitcoin for payments, there used to be one restaurant but RBI shadowbanned it they went off so that part we don't need to worry about it now and the crypto investors in India will come clean only if government comes up with fair tax rates or else they are going to keep losing millions in revenue.

Bureau

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Quote from: Bitcoin Smith on December 16, 2023, 02:20:41 PM

Quote from: Bureau on December 08, 2023, 12:13:54 PM

Whereas we all are busy selling out Bitcoin rather than investing in it by buying more on Bisq.

If you have BTC, and now you need money then there is no harm in selling it and that is what money is supposed to be used for.

BTC has potential to grow, but if you don't feed yourself today, then there is no point of hoarding the food for the next month.

Considering the current transaction fees and congestion in the Bitcoin network it is better to avoid making any transaction. Those small investors who have been DCAing will be affected. Small businesses won't be able to sustain such transaction fees and will shift to another blockchain. Wherein the potential for it to grow and become more popular will be dented.

Bitcoin Smith

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Quote from: Bureau on December 08, 2023, 12:13:54 PM

Whereas we all are busy selling out Bitcoin rather than investing in it by buying more on Bisq.

If you have BTC, and now you need money then there is no harm in selling it and that is what money is supposed to be used for.

BTC has potential to grow, but if you don't feed yourself today, then there is no point of hoarding the food for the next month.

pawanjain

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Quote from: pakhitheboss on December 05, 2023, 01:39:09 PM

The list is a compilation of P2P exchange that doesn't ask for KYC.

Just a small suggestion. You should have gone for compiling a list of all exchanges supporting P2P for INR pair.
Dividing the list into KYC exchanges and Non-KYC exchanges would have been more beneficial for everyone.
There's no point of including KYC exchanges in the list if your list is for Non-KYC users only.
Instead, having both would have made more sense.

Bureau

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Quote from: TheUltraElite on December 08, 2023, 11:40:37 AM

snip~~

I mean Bisq is a total failure if we think in the way an Indian thinks. It uses TOR which makes it slow, knowing the way the internet in India works who will wait for it to load? It has INR/BTC and BTC/INR pairs but no security to guarantee the funds are legit. That is how Indians feel and that is the reason we Indian are still behind as we hate to take risks. Like a few of us, we use the forum as a form of notification and then post the requirement on Bisq the problem will be solved. Whereas we all are busy selling out Bitcoin rather than investing in it by buying more on Bisq. Most of us use the forum as a second income as we should have used it as a way to become financially independent.

TheUltraElite

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Quote from: newIndia on December 06, 2023, 01:49:54 PM

Regular basis? Situation of BTC/INR pair is funny over there.

https://bisq.markets/market/btc_inr

Last trade was on 2023-01-16.

Thanks for the information. I have only heard of Bisq and watched their videos on youtube a long time back but never used the platform, I liked their no KYC system but was put off by the long delays in trading and also that security deposit that @Bitcoin Smith mentioned, I forgot to recall while writing my comment.

It is good to see you back here, please be more active if possible, we are trying to build the Indian community again.

pakhitheboss

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Quote from: Bitcoin Smith on December 08, 2023, 04:37:01 AM

Quote from: pakhitheboss on December 08, 2023, 01:46:02 AM

We all know how easy it is for a scammer to pass KYC using fake documentation as there were a lot of such cases reported in the mainstream newspaper earlier this year. Until regulation comes into effect I think it is better to use direct exchange transactions and this is why I created this topic to find out how many of us have trust in the listed P2P exchanges.

I wouldn't say easier but its not impossible either because exchanges added liveness test which is video selfie verification along with ID submission so its not that easy to get verified like years back in most of the exchanges but scammers always finds a way to bypass it or the easy way is to buy the hacked exchange accounts from dark net for a hundred dollar then they can make 1000 before the account gets reported.

Indian scammers are known globally for their jugad. They can achieve things that other scammers would not dare to try. Heard a few hour back that in the India Blockchain week confrence that is being held in Bangalor,e one of our MP named Jayant Sinha has said it will take another 18 months for crypto regulation.

Which means the bill will be passed after the central election. I am assuming it would be in 2025 that we will see proper regulations around crypto in India.

Bitcoin Smith

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Quote from: pakhitheboss on December 08, 2023, 01:46:02 AM

We all know how easy it is for a scammer to pass KYC using fake documentation as there were a lot of such cases reported in the mainstream newspaper earlier this year. Until regulation comes into effect I think it is better to use direct exchange transactions and this is why I created this topic to find out how many of us have trust in the listed P2P exchanges.

I wouldn't say easier but its not impossible either because exchanges added liveness test which is video selfie verification along with ID submission so its not that easy to get verified like years back in most of the exchanges but scammers always finds a way to bypass it or the easy way is to buy the hacked exchange accounts from dark net for a hundred dollar then they can make 1000 before the account gets reported.

pakhitheboss

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Quote from: Bitcoin Smith on December 07, 2023, 11:07:00 AM

Quote from: pakhitheboss on December 06, 2023, 08:42:35 PM

What is good about Bisq is its volume for BTC/XMR pair, what is bad about it is its desktop application which I feel is very slow and clumsy. Furthermore, there is zero volume when you check the BTC/INR pair on it. There is no way to confirm that the merchants for BTC/INR are not scammers like those who have infiltrated Binance P2P. That being said you would find a few of them in other P2P exchanges too.

BISQ is basically running on TOR network, that is the reason why it is very slow which kind of feels laggy when we switch to it from traditional applications. Yeah the second point is the actual issue, we never know the source of funds from the other party which can become an issue even after 6 month after the trade happened by then we will be affected and our account will be frozen that is why it is better to go with KYC p2p exchanges in my opinion.

I had downloaded the application once on my laptop and due to TOR being active, it took some time to connect. You would need a lot of patience when using the exchange as tend to get disconnected quite frequently. BTC/INR issue is a big one and things get much riskier when trade is done on a P2P exchange. As I have explained in another post UPI transaction causes many issues due to the easy chargeback feature. Regardless of using a KYC or non-KYC P2P exchange, you do take the risk of getting into the trap of a scammer.

We all know how easy it is for a scammer to pass KYC using fake documentation as there were a lot of such cases reported in the mainstream newspaper earlier this year. Until regulation comes into effect I think it is better to use direct exchange transactions and this is why I created this topic to find out how many of us have trust in the listed P2P exchanges. Till now I have seen very less responses, might be that people do not want to disclose this information on a public platform or they are using CEX for INR transactions.

Bitcoin Smith

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Quote from: pakhitheboss on December 06, 2023, 08:42:35 PM

What is good about Bisq is its volume for BTC/XMR pair, what is bad about it is its desktop application which I feel is very slow and clumsy. Furthermore, there is zero volume when you check the BTC/INR pair on it. There is no way to confirm that the merchants for BTC/INR are not scammers like those who have infiltrated Binance P2P. That being said you would find a few of them in other P2P exchanges too.

BISQ is basically running on TOR network, that is the reason why it is very slow which kind of feels laggy when we switch to it from traditional applications. Yeah the second point is the actual issue, we never know the source of funds from the other party which can become an issue even after 6 month after the trade happened by then we will be affected and our account will be frozen that is why it is better to go with KYC p2p exchanges in my opinion.

pakhitheboss

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Quote from: newIndia on December 06, 2023, 01:49:54 PM

Quote from: TheUltraElite on December 06, 2023, 10:09:20 AM

What about Bisq? I think they are having a Decentralized network and they dont ask for KYC.

Check it out here - https://bisq.network/

The problem I see is that you need to keep your software on when a trade is opened, which seems like a bummer to me. I havent used it myself, does anyone else use it on a regular basis?

Regular basis? Situation of BTC/INR pair is funny over there.

https://bisq.markets/market/btc_inr

Last trade was on 2023-01-16.

What is good about Bisq is its volume for BTC/XMR pair, what is bad about it is its desktop application which I feel is very slow and clumsy. Furthermore, there is zero volume when you check the BTC/INR pair on it. There is no way to confirm that the merchants for BTC/INR are not scammers like those who have infiltrated Binance P2P. That being said you would find a few of them in other P2P exchanges too.

Quote from: Bitcoin Smith on December 06, 2023, 07:37:30 AM

Just a correction, these all are p2p exchanges but some of them require KYC like p2p platforms like Paxful and Noones have mandatory KYC.

Thanks for the confirmation, I have updated the OP now.

Quote from: TigerMart on December 06, 2023, 11:58:20 AM

Source: https://t.me/CryptoIndiaUnited/64636

Sorry forgot to add the source , I have added it now will keep that in mind in the future.

newIndia

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Quote from: TheUltraElite on December 06, 2023, 10:09:20 AM

What about Bisq? I think they are having a Decentralized network and they dont ask for KYC.

Check it out here - https://bisq.network/

The problem I see is that you need to keep your software on when a trade is opened, which seems like a bummer to me. I havent used it myself, does anyone else use it on a regular basis?

Regular basis? Situation of BTC/INR pair is funny over there.

https://bisq.markets/market/btc_inr

Last trade was on 2023-01-16.

Bitcoin Smith

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Quote from: TheUltraElite on December 06, 2023, 10:09:20 AM

What about Bisq? I think they are having a Decentralized network and they dont ask for KYC.

Check it out here - https://bisq.network/

The problem I see is that you need to keep your software on when a trade is opened, which seems like a bummer to me. I havent used it myself, does anyone else use it on a regular basis?

Bisq is a decentralized p2p which will never ask for any KYC but its different from traditional p2p exchanges we use.

On top of that the trading volume for INR pairs in BISQ is zero as far as I checked so even if you sign up there then you will likely to be waiting forever to sell your BTC for INR and the actual reason why people don't prefer BISQ is because of the security deposit is mandatory for both buyer and seller which is 15% of the trade amount and minimum is 006BTC which means you need to deposit $260 worth of BTC just for the security deposit so that explains we don't usually prefer Bisq.

TigerMart

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Quote from: pakhitheboss on December 05, 2023, 01:39:09 PM

I am just listing the exchanges that I feel are trustworthy. The list is a compilation of P2P exchange that doesn't ask for KYC. Out of this list, which exchange you feel is trusted and doesn't have merchant issue? For converting your INR to crypto or converting crypto to INR. Which exchange do you think is good?

Non-KYC P2P exchanges:

1. AgoraDesk
2. Paxful
3. LocalMonero
4. HodlHodl
5. LocalCoinSwap
6. Noones
7. OpenPeer
8. Wallet

Source: https://t.me/CryptoIndiaUnited/64636

For the clarity of those who are wondering what is Wallet, it is a proprietary P2P service provided by Telegram to its users.

TheUltraElite

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What about Bisq? I think they are having a Decentralized network and they dont ask for KYC.

Check it out here - https://bisq.network/

The problem I see is that you need to keep your software on when a trade is opened, which seems like a bummer to me. I havent used it myself, does anyone else use it on a regular basis?

Bitcoin Smith

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Quote from: Bureau on December 06, 2023, 07:52:32 AM

Quote from: Bitcoin Smith on December 06, 2023, 07:37:30 AM

Just a correction, these all are p2p exchanges but some of them require KYC like p2p platforms like Paxful and Noones have mandatory KYC.

Paxful and Noones are both the same exchanges if I am not wrong as Noones was started when Paxful was supposedly getting closed. I was not aware that they require KYC as I was under the impression that the do not ask for KYC till a certain amount.

Not same exchange but Noones is from the co-founder of Paxful and it came into existence when Paxful stopped their operation earlier this year but after a couple of months the Paxful came into action again.

You are at the wrong impression, in Noones it is mandatory to get verified even to deposit any crypto.

In Paxful you will get 10K euros limit if you verify ID and liveness test and if you need unlimited limit then you have to go through further like address verification and so on.

Bureau

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I have used once or twice both Agoradesk and Local Monero for converting my Bitcoin to usdt. I have not used any of the above listed exchanges for INR transactions, so I could not comment on INR trust. I did not face any issues using these two exchanges for USDT conversion as the transaction went smoothly without any issues. In general, P2P exchanges have a good reputation for buying and selling cryptocurrencies, converting to fiat currencies can be tricky.

Quote from: Bitcoin Smith on December 06, 2023, 07:37:30 AM

Just a correction, these all are p2p exchanges but some of them require KYC like p2p platforms like Paxful and Noones have mandatory KYC.

Paxful and Noones are both the same exchanges if I am not wrong as Noones was started when Paxful was supposedly getting closed. I was not aware that they require KYC as I was under the impression that the do not ask for KYC till a certain amount. For example, before Kucoin implemented strict KYC they would allow up to 2 BTC worth of transactions without KYC. I thought the same for those two exchanges, they might have changed their policy I guess.

Bitcoin Smith

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Quote from: pakhitheboss on December 05, 2023, 01:39:09 PM

The list is a compilation of P2P exchange that doesn't ask for KYC.

Just a correction, these all are p2p exchanges but some of them require KYC like p2p platforms like Paxful and Noones have mandatory KYC.

Out of all the listed platforms I have experience with Paxful and Noones, and ironically both are similar in terms of UI except the color difference but liquidity in Paxful for BTC/INR is lot higher comparing Noones, so my first preference will be Paxful.

It is just a p2p which has no issues related to deposits/withdrawals/etc but finding the right trader/merchant is in our hand that determines the security of our bank account too.

pakhitheboss

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I am just listing the exchanges that I feel are trustworthy. The list is a compilation of P2P exchange that doesn't ask for KYC. Out of this list, which exchange do you feel is trusted and doesn't have merchant issues? For converting your INR to crypto or converting crypto to INR. Which exchange do you think is good?

Non-KYC P2P exchanges:

1. AgoraDesk
2. Paxful - KYC required
3. LocalMonero
4. HodlHodl
5. LocalCoinSwap
6. Noones - KyC required
7. OpenPeer
8. Wallet

Source

Topic: Which of the following P2P exchange you trust? (Read 166 times)