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Title: Is a P2P bitcoin trade secure and safe Post by: platinumsteel2016 on November 10, 2018, 09:10:48 PM I was thinking of making a p2p bitcoin buy through localbitcoins.com Is it secure and safe. Is there escrow involved.What is the
procedure for that. I don't want to put money in someone's hand and thery tell me The funds will be release in 30 minutes for example, but the vendor wants to leave with my money. That can't happen!! What is the procedure, I would appreciate any and all advice...I hope to hear from you fairly soon... Title: Re: Is a P2P bitcoin trade secure and safe Post by: franky1 on November 10, 2018, 09:32:25 PM local bitcoins does have escrow. just be aware you may not get exact amount, due to fees
these days most will ask for ID and proof of ID such as asking to to take a photo of yourself holding a bit of paper with a message saying you consent to the trade. this is so that if you tried to get BTC and then try to do a wire transfer reversal(chargeback) AFTER the btc is released to you.. the other person knows enough about you to prove you requested the funds transfer. this is because chargeback scammers PRETEND someone stole their bank login and wire transferred funds out. so by others asking for info is just to stop scammers trying to reverse wire transfers and keep the btc too. seeing as your a buyer that will use escrow. you cant really get scammed as easily..as the coin is locked in.. usually its the seller that gets scammed even with escrow enabled. but be sure the seller releases the coin to you once you sent yours. be sure to use a trader with hundreds of trades and 100%. do a quick google/bitcointalk search on their username to see if there is any complaints. such as delay/avoiding saying they received funds |