Bitcoin Forum

I am giving up on Localcryptos, there's barely any sellers in my region esp for bitcoin, let alone any other crypto. I think at this point i might just have to lend into giving my kyc to localbitcoins.

My hopes for a perfect exchange keep shattering by the day. :(

At one point you have to get yourself verified with your KYC in order to trade. Thats the way it is, denial is not an option here sadly.

Has it been dry like this for several months or during this bull run it has dried out?

A perfect exchange does not exist because you are thinking of an ideal one. You will get liquid markets on centralized exchanges and even most decentralized exchanges. Guessing you have not tried a centralized exchanges yet?

Having this problem too, also with Hodlhodl. That's why I'm always forced to take some risk(chargebacks) and use PayPal when I'm trying to sell some BTC. Most people just don't see the importance of no-KYC p2p platforms yet unfortunately.

Mate OP just said that he gave up on LocalCryptos due to the lack of sellers in his/her region. You might want to re-read. 🤣

Seems I'm getting old with my eyes, really need an eye glasses lol, what I only read is localbitcoins.

I actually applied binance kyc just to use their p2p platform due to a reason of having the same issues like OP of barely traders on other non-KYC'ed p2p platform.

It seems, there are no more rooms for us who want to hide our identity from the exchanges as the government are open their eyes that the cryptocurrency can bring a new millionaire. So they ask the exchange, p2p or the other exchanges, to ask verification for their members. In the future, we might lose our chance to hide the identity because the government will watch people who use crypto at the exchanges. But I hope there are still exchanges who care about their members' identity and do not ask their members to verify their accounts.

This exactly is a problem with most of the KYC-less P2P exchanges. Luckily i do have traders from my region and I do use localcryptos regular but the Bitcoin price in there is at most times way below the market price (10% plus) if you want to sell or way above the market price when you want to buy.

I discovered Binance p2p recently and decided to add in my KYC documents there. From what I experienced, It has much more sellers and buyers and the prices aren't way off the market prices like in localcryptos

keep an eye on the listings, cuz i'm seeing lots of growth myself.

i'm browsing through the p2p cash offers and there are like 10x more buyer listings and 5x more sellers than there were a few months ago. i'm stoked, there are 3 new buyers in my metro area. the less i have to cash out through exchanges, the better....

Sometimes it's very hard to buy bitcoin with real cash. What if you ask Localbitcoin seller to create an account on Localcryptos and deal without KYC verification. Although it's ridiculous, but I can't find any other solution since there is not enough seller/buyers from your jurisdiction. Have you tried on this forum? Sadly you can't avoid KYC even buy Bitcoin with a credit card.

Have you searched for your trusted local exchange? Even my country does not allow to use Bitcoin, but there is a few trusted local exchange that allows you to buy sell bitcoin with real cash (of course no KYC requirements).

I don't know specifics for your country, but I found building a network of P2P traders very useful in conducting trades without KYC.

There are still a lot of traders out there that are willing to do this, but they advertise on platforms such as LBC. Usually they will leave their contact details (Whatsapp etc.) on their profile, so if you see a reputable dealer at a good price, try and hit them up directly.

I found that sometimes they are willing to open a trade on non-KYC platforms such as Localcryptos even if they don't have an account there, or do an OTC deal (which is a lot  riskier since there is no escrow) at a lower premium.

Actually people are moving to their local exchanges for better price and convenience but trust me they will return to P2P trading platforms at some point because with current bullish trend more government will be implementing high tax rates to crypto traders which is high as hell like 30 to 40% in some countries so people will move to LBC or other non KYC p2p trading platforms for sure to avoid paying such amount of taxes.

This is the main problem with truly decentralised and p2p exchanges. I'm facing the same problem with bisq, I can bet that no one in my country use it or even heard of it.
I find myself forced to sell/buy cryptos face to face or via local facebook groups which is worse than kyc.
Some people just don't care about privacy and this is something we can't change overnight.

tell me about it. (selling too)

in the USA, the feds killed p2p cash liquidity by arresting so many traders for unlicensed money transmission. LBC implementing KYC and removing cash listings felt like a nail in the coffin. the market never really recovered, but it's still technically alive on localcryptos, and now that bitcoin is at ATHs i'm seeing more offers than ever.

i will say, i'm personally fairly paranoid about interacting with the cash market, knowing there are undercover agents infiltrating it. if i deal with the same person twice, it's only after a long time has passed. i don't wanna be construed as running a business and therefore running afoul of FINCEN requirements.

I feel bad for you living in USA, where your transaction might be a sting. How do you guys address the issue there knowing that big banks are behind these operations to crackdown crypto enthusiast. As far as I know, lobbying is a big business in your country and most people in power do not do shit about the well being of the people. In my country, it is still relatively unknown to authorities how bitcoin and crypto transaction works, and there is no taxes.

Of course it is. I've never completed KYC and yet trade regularly. Sure, it takes more effort to trade without a centralized exchange, but saying it is not an option is not correct.

I see people complain about this a lot. Have you tried being a maker rather than a taker, though? If you don't see a trade you like, then just post your own. The same applies to pugman. There might be several users in the same position just browsing for trades and giving up when they don't see any, with none of them actually posting offers.

This has been my experience recently too. Granted, thanks to my geographical location I've always had plenty of P2P options across various platforms, but there are more than ever at the moment.

Another thing I have seen users from countries with fewer traders do is open an online fiat account which gives them access to either a USD or a EUR bank account, and then buy and sell with traders using those currencies rather than their native currency which might have very low volume.

Why not try to find people from Twitter and invite them to use the decentralized platforms? I find a lot of people on Twitter, and then we can meet in a public place or use any escrow.
It is a market where if you find any suitable person there will be no problem Localcryptos lies to find people who deal with them.

Generally, I do not believe in a decentralized trading platform except an open source one.

That's unfortunate, you don't have something that we have here here a centralized exchange for local, if your coins are clean you have nothing to worry using a centralized exchange , you did not mention your region too, but do check your local board here if there is one and ask your fellowman if they know people with good rank here willing to do peer to peer.

Which open source DEXs are you using, for trading bitcoin and fiat? As far as I am aware, only Bisq fits this criteria. Are there others?

Nonsense. I've never done anything illegal with bitcoin, and yet I have never and will never use a centralized exchange. There are hundreds of good reasons to avoid them. From a security point of view, you have to give up control of your coins to a third party who can then do anything they like with your coins, they can lock or close your account at any time for any reason, they can stop operating in your country, they can scam you, they can be hacked, they can disappear entirely. From a privacy point of view, they will investigate every deposit and track every withdrawal, they will log all your activities, they will ask for ever more invasive KYC, they will link all that together and they will share and sell it with any number of third parties.

Every time you use a centralized exchange you risk all your coins and all your personal data. Avoiding them has nothing to do with the legality of your coins - it's just common sense.

Interesting replies. FWIW, i haven't yet given into providing my kyc to anyone yet. I keep checking on LocalCryptos, the market is slightly growing because of the surge, but still not quite there. Am to lazy to quote everyone, so just tl;dr reply to y'all:

@o_e_l_e_o,  just for you, I will try to be maker, instead of a taker on Localcryptos. Just. for. you.  :-*

@hugeblack, I have never really interacted with anyone on bitcoin twitter, introduce me senpai(actually serious). I would love to make some twitter friends.

@TheUltraElite, localcryptos has pretty much always been dry for my region, it sucks, it iz what it iz (https://www.youtube.com/watch?v=a94wYTOthKI). 

@logfiles, I didn't even know binance p2p was a thing, thanks lol. But hey, I am happy that you have a decent options of buyers and sellers on your localcryptos page.

@figmentofmyass, I did see a little bit of surge in my area, but half of them are trolls sort of. Here is an example,:

https://i.imgur.com/YLHJL9U.png

@Coolcryptovator, not a bad idea to ask someone from LBC to get into Localcryptos, however, i am not in contact with any of my past trade mates, so that will also be a no-go. Btw, congrats on hitting legendary.

@magneto, good idea actually. I could do that, or mix your idea with Coolcryptovator, so I get best of both worlds, idk I shall see.

@o_e_l_e_o, since you basically have never used a centralized exchange ever, do you deal with buying/selling altcoins on decentralized p2p site?

Not really, so I can't give much advice on that front I'm afraid. The only altcoin I have any real interest in is Monero, given my penchant for all things privacy, and Bisq has a pretty large number of Monero traders for the same reason. If I can't find a trade a like, then occasionally I'll turn to this forum instead. On the rare occasions I've needed another altcoin for a specific purpose, then I've usually justed traded on here rather than navigate unknown exchanges for the sake of one trade.

Ah hells. Fair enough, P2P altcoin market is worse than btc p2p market, so yeah. Mind telling me more about your bisq experience? I haven't used it particularly so.

Random mood shift: Damn I miss shapeshift, it was one of the more convenient sites without the need for kyc back then. Oh well.

you may be in luck. i dunno what the exact timeline for rollout is (supposedly sometime in q1), but erik voorhees just announced that shapeshift is phasing out its centralized market making activities and going 100% DEX.

once that happens, they are removing KYC requirements!

omg

LETS FUCKING GOO! best news i have heard today! thanks for sharing this  :-*

someone PWEASE give me a good service which keeps up to date with the crypto, I possibly can't keep up with everything happening. But seriously, thanks for sharing, im EXCITED to say the least.

It is very different from centralized exchanges and even other DEXs, so I won't lie and say that the first time you use it is completely straightforward. It does take a bit of time to set up and learn how their trading and escrow services work, but once you've got the hang of it it is completely fine to use and probably the closest we have every come to completely decentralized trading.

They have extensive documentation, user guides and YouTube tutorials, as well as a great community who can help out with any technical issues (links included at the bottom). Of all the trades I have done there, I have never once had an issue with the other party not paying, disputing the trade, or something similar, and never had to involve a mediator.

When you use it for the first time, your account is "unsigned" and has a limit of 0.01 BTC. Once you've done a few successful trades with trusted users, this limit will be lifted.

Wiki - https://bisq.wiki/Main_Page
Documentation - https://docs.bisq.network/
Simple "Getting Started" guide with videos - https://bisq.network/getting-started/
More in depth "Getting Started" guide - https://docs.bisq.network/getting-started.html
Forum - https://bisq.community/

Thank you. im incredibly great for u lool, for helping me out with relatively dumb stuff like this~

Anyways I will check out bisq and will annoy you if required heh.  :-*