Why P2P Escrow Exchanges are gaining momentum - for all payment modes

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Quote from: posi on May 13, 2019, 03:50:07 PM

Quote from: anshui on May 13, 2019, 06:12:22 AM

Quote from: CryptopreneurBrainboss on May 13, 2019, 05:43:28 AM

Hope you understand that when centralized exchanges like binance get hacked, chances of you withdrawing your money are still possible that's if the exchange becomes active again because technically you didn't get hack, the exchange was and they're entitled to pay all customers but when you get scammed on P2P escrow exchange due to some flaws on the exchange, you're not entitled to recieving your funds back. We have numerous reported cases via localBitcoin which is the most popular P2P exchange that victim of fraud never received back their BTC. So, no system is perfect but I'm sure more better solutions will be introduced in the near future.

We need to understand that exchanges like Binance , and P2P exchanges like coinbaazar , and LBC, works on different platforms. As far as funds are concerned, we saw not only binance but in the past other exchanges got hacked as well, possible every 3rd person in crypto community is a victim of such exchanges. So to ensure that you can use your funds whenever you need , In that regards P2P exchanges are performing well from past few years.Also avoid putting all eggs in one basket.

Yes, exchange like Binance and P2P exchange operated on different systems but to me the act of users not receiving back their fund when P2P got hacked is still a flaws and it will be good if better solutions are implement because such cases may discourage new investors or new crypto users.

There are comparatively less chances of p2p exchanges of this sort getting hacked . past proves it all , most of exchanges were centralized exchanges which got hacked.

posi

hero member

Activity: 2268

Merit: 579

Vave.com - Crypto Casino

Quote from: anshui on May 13, 2019, 06:12:22 AM

Quote from: CryptopreneurBrainboss on May 13, 2019, 05:43:28 AM

Hope you understand that when centralized exchanges like binance get hacked, chances of you withdrawing your money are still possible that's if the exchange becomes active again because technically you didn't get hack, the exchange was and they're entitled to pay all customers but when you get scammed on P2P escrow exchange due to some flaws on the exchange, you're not entitled to recieving your funds back. We have numerous reported cases via localBitcoin which is the most popular P2P exchange that victim of fraud never received back their BTC. So, no system is perfect but I'm sure more better solutions will be introduced in the near future.

We need to understand that exchanges like Binance , and P2P exchanges like coinbaazar , and LBC, works on different platforms. As far as funds are concerned, we saw not only binance but in the past other exchanges got hacked as well, possible every 3rd person in crypto community is a victim of such exchanges. So to ensure that you can use your funds whenever you need , In that regards P2P exchanges are performing well from past few years.Also avoid putting all eggs in one basket.

Yes, exchange like Binance and P2P exchange operated on different systems but to me the act of users not receiving back their fund when P2P got hacked is still a flaws and it will be good if better solutions are implement because such cases may discourage new investors or new crypto users.

79b79aa8d5047da6d3XX

full member

Activity: 660

Merit: 101

Colletrix - Bridging the Physical and Virtual Worl

I have been using p2p exchange for quite sometime now and never for once have i experienced any hack issue. Their security features are top notch and its the easiest way to sell cryptocurrencies and convert to FIAT

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Quote from: jrrsparkles on May 13, 2019, 06:45:54 AM

Quote from: anshui on May 08, 2019, 08:27:42 AM

Hi,

To make sure both the buyer/seller funds are safe p2p exchange like coinbaazar ,LBC, have been introduces in market , so as to bring the transparency among the trades and vendors . This way both the parties are safe by escrow and these trading platforms makes sure that one has a good experience in minimum amount of time. This way one can trade with confidence and 100's of payment modes .

I am using LBC for buying bitcoins whenever I am buying it with fiat because the reason automated escrow which esue there is no chance for scam while I am trading with a person but never inented to store any coins othe than few bucks in case for emergency need so nothing to lose evn if there is hack on them.Most of the people who are buying with fiat will prefer P2P that is why it is gaining momentum over the years.

Yes i believe P2P exchanges are good way to buy and sell btc via Fiat and any other mode of payment.If u want you can also check coinbaazar.com , its recently launched worldwide, and is a low fee P2P exchange as compared to other exchanges.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: anshui on May 08, 2019, 08:27:42 AM

Hi,

To make sure both the buyer/seller funds are safe p2p exchange like coinbaazar ,LBC, have been introduces in market , so as to bring the transparency among the trades and vendors . This way both the parties are safe by escrow and these trading platforms makes sure that one has a good experience in minimum amount of time. This way one can trade with confidence and 100's of payment modes .

I am using LBC for buying bitcoins whenever I am buying it with fiat because the reason automated escrow which esue there is no chance for scam while I am trading with a person but never inented to store any coins othe than few bucks in case for emergency need so nothing to lose evn if there is hack on them.Most of the people who are buying with fiat will prefer P2P that is why it is gaining momentum over the years.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Quote from: palle11 on May 13, 2019, 05:45:49 AM

Quote from: anshui on May 11, 2019, 03:16:54 AM

The concept is quite different as it is used worldwide , not specific to single country or location.

It could mean is like a telegram group where people sell and buy or exchange their coins also for bitcoin or other altcoin. Is quite good to see this larger group named as exchange but I don't know how reliable because they do escrow in telegram or localbitcoin.

The best way is to trade is through an exchange like coinbaazar or LBC . In that way you always know that your funds are safe as company escrow is neutral and unbiased.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Quote from: CryptopreneurBrainboss on May 13, 2019, 05:43:28 AM

Hope you understand that when centralized exchanges like binance get hacked, chances of you withdrawing your money are still possible that's if the exchange becomes active again because technically you didn't get hack, the exchange was and they're entitled to pay all customers but when you get scammed on P2P escrow exchange due to some flaws on the exchange, you're not entitled to recieving your funds back. We have numerous reported cases via localBitcoin which is the most popular P2P exchange that victim of fraud never received back their BTC. So, no system is perfect but I'm sure more better solutions will be introduced in the near future.

We need to understand that exchanges like Binance , and P2P exchanges like coinbaazar , and LBC, works on different platforms. As far as funds are concerned, we saw not only binance but in the past other exchanges got hacked as well, possible every 3rd person in crypto community is a victim of such exchanges. So to ensure that you can use your funds whenever you need , In that regards P2P exchanges are performing well from past few years.Also avoid putting all eggs in one basket.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: anshui on May 11, 2019, 03:16:54 AM

The concept is quite different as it is used worldwide , not specific to single country or location.

It could mean is like a telegram group where people sell and buy or exchange their coins also for bitcoin or other altcoin. Is quite good to see this larger group named as exchange but I don't know how reliable because they do escrow in telegram or localbitcoin.

CryptopreneurBrainboss

legendary

Activity: 2408

Merit: 4282

eXch.cx - Automatic crypto Swap Exchange.

Hope you understand that when centralized exchanges like binance get hacked, chances of you withdrawing your money are still possible that's if the exchange becomes active again because technically you didn't get hack, the exchange was and they're entitled to pay all customers but when you get scammed on P2P escrow exchange due to some flaws on the exchange, you're not entitled to recieving your funds back. We have numerous reported cases via localBitcoin which is the most popular P2P exchange that victim of fraud never received back their BTC. So, no system is perfect but I'm sure more better solutions will be introduced in the near future.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Quote from: Cosbycoin on May 13, 2019, 02:54:57 AM

Quote from: anshui on May 08, 2019, 08:27:42 AM

Hi,

To make sure both the buyer/seller funds are safe p2p exchange like coinbaazar ,LBC, have been introduces in market , so as to bring the transparency among the trades and vendors . This way both the parties are safe by escrow and these trading platforms makes sure that one has a good experience in minimum amount of time. This way one can trade with confidence and 100's of payment modes .

Okay, now I am so sure that you are just trying to shill your project and I don't know why you can't just come out straight and say it's yours, or you are part of the team, doing it this way will only cause suspicions and make people run away from your project instead of checking out to see whether it's a good one or not, so I think the best thing you could do is to create an ANN thread for your project and give all announcement regarding upgrade there.

I am not asking anyone to check it , if u want to you can check out its your provocative, its not an obligation, i just created this thread to share knowledge about how can we use different platforms according to our needs. Also though its recently launched if u find its good use it or else if its of no use for you , you can just ignore. Atleast people should know whats happening in our community.

Cosbycoin

hero member

Activity: 980

Merit: 506

Quote from: anshui on May 08, 2019, 08:27:42 AM

Hi,

To make sure both the buyer/seller funds are safe p2p exchange like coinbaazar ,LBC, have been introduces in market , so as to bring the transparency among the trades and vendors . This way both the parties are safe by escrow and these trading platforms makes sure that one has a good experience in minimum amount of time. This way one can trade with confidence and 100's of payment modes .

Okay, now I am so sure that you are just trying to shill your project and I don't know why you can't just come out straight and say it's yours, or you are part of the team, doing it this way will only cause suspicions and make people run away from your project instead of checking out to see whether it's a good one or not, so I think the best thing you could do is to create an ANN thread for your project and give all announcement regarding upgrade there.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Most of P2P exchanges are generally used for exchanging of gift cards, paypal and other payment methods to BTC, generally people do not save or trade crypto currencies on P2P exchanges like they do on other centralized exchanges. The concept is quite different as it is used worldwide , not specific to single country or location. Their main aim is to trade and get the funds.

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

P2P exchange like LBC could be a good choice to trade, but that will be back to the traders itself.
I think p2p exchange or usual exchange could be the next target to get hacked as we don't know what the hackers plan.
And related to the binance hack news, I still prefer to stay with the exchange than to use p2p exchange because I feel comfortable to use binance or the other exchanges.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

I believe that P2P exchanges do have their pros and cons, but if u check the probability of scammers and compare it to number of trades that happen on these platforms its quite less. There are some payment modes which can be tricky some times but most of them happen smoothly. If we take all the scenarios in mind P2P platforms are performing successfully, Thus ensuring smooth transactions by resolving the disputes ethically in right manner.

aervin11

full member

Activity: 602

Merit: 103

Cryptocurrency trades aren't safe if there is no P2P platforms. Never to use these yet (coinbazaar,LBC) so I won't recommend it's reliability and User experience but the idea to remove the control over people to trade, I think it's a good leap. Hoping to see decentralized escrow platform so we won't rely on any governing bodies in the future.

ghermghuda

jr. member

Activity: 284

Merit: 5

Ideally, I think that was the maiñ aim of cryptos and blockchain, that is to eliminate the middleman at all costs but surprisingly, we have given the power back to certain ”so-çalled" crypto enthusiasts. Anyways we shouldn't forget that every system has pros and çons and hence p2p exchanges have theirs as well.

Genemind

sr. member

Activity: 1596

Merit: 335

P2p exchanges have lapses when it comes to their support system and the number of scammers. That's the risk of peer to peer anonymous transactions. The truth is whatever exchange we use, we should accept the fact that there's always a big risk of losing our funds due to a lot of reasons so we should be aware in choosing specific exchange method.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

If you're choosing vendors with good reputation on a site like Paxful or LocalBitcoins you won't have too many problems in my experience, though it is indeed true that there are plenty of scammers on P2P trading sites and support doesn't always work to your advantage. I also typically get a better exchange rate buying BTC and other cryptocurrencies through a more centralized fiat exchange, though there are people out there who prefer to take the more anonymous route and P2P exchanges work perfectly for that purpose.

Haunebu

hero member

Activity: 3178

Merit: 977

www.Crypto.Games: Multiple coins, multiple games

Quote from: anshui on May 08, 2019, 01:21:13 PM

Rightly said , In P2P the control is generally in users hand as compared to other platforms , Also securities like 2fa, google authentication , otp login , all these paramaters are quite difficult to break at the same time.

I disagree. I do believe that P2P platforms are less likely to be hacked when compared to big exchanges like Binance, but this in no way means that they are 100% secure and all trades will be risk free.

For example, LocalBitcoins is the most popular P2P OTC platform, but there are plenty of cases here where people lost their money due to scammers.

Ailmand

hero member

Activity: 1274

Merit: 519

Coindragon.com 30% Cash Back

We can't guarantee that p2p could really provide an assurance of security and safer transactions but I guess it could at least assure us that the risk of hacking is quite lower in this another decentralized exchange. The fact that they're offering lower fees than centralized exchange is an advantage of choosing it. After all, it's still in the process of long improvement so we can't really conclude that it's a perfect choice over top exchanges.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Rightly said , In P2P the control is generally in users hand as compared to other platforms , Also securities like 2fa, google authentication , otp login , all these paramaters are quite difficult to break at the same time.

xvids

sr. member

Activity: 1176

Merit: 301

I like the P2P trading platform idea but to be honest I never used it before,
But due to this binace hack incident I really think that P2P trading should be push to start.
We should be the one to keep our crypto safe , We should be in control of our wallet.

anshui

copper member

Activity: 98

Merit: 0

coinbaazar - Escrow Exchange is launched worldwide

Hi,

To make sure both the buyer/seller funds are safe p2p exchange like coinbaazar ,LBC, have been introduces in market , so as to bring the transparency among the trades and vendors . This way both the parties are safe by escrow and these trading platforms makes sure that one has a good experience in minimum amount of time. This way one can trade with confidence and 100's of payment modes .

Topic: Why P2P Escrow Exchanges are gaining momentum - for all payment modes (Read 336 times)