Market is saturated with a lot of traders.
In my opinion look for another options.

Barely 1% profit margin on P2P trades.
Good luck showing that on your tax returns if you're doing trade thru banking channels.

Ive been trading on localbitcoins, remitano, paxful and everything else you can think of.

Localbitcoin has the highest volume and I like their interface and has a reputation of being in operation for many years now.

Most of my own trade volume is on localbitcoins. Have done over 100 btc there without any major issues.
Just have to be careful of shady users and do a basic check on everyone before trading.

Have you tried using any of them in India?
I would be very much interested in using one.

I'll take it for 60k instead.

As a P2P trader myself, I know many people who have had their accounts frozen by cyber cell on fraud complaints.

Can you tell me if you recently sold a medium to large amount of BTC to a person through P2P? I can help you out with this.
If you can prove innocence the account will get unfrozen soon enough.

I know many traders who have had this happen.

Ah that's why.
I'd suggest going p2p. There are a few trustworthy traders. Just trade with us and you'll be fine. The bank won't know you're trading Btc.

I myself have traded over 100 Btc thru my current account without any problems. Ofcourse it was all p2p though

I still want to know how the bank knew about his bitcoin transactions. Did you explicitly mention bitcoin in the TXN remarks?

That's a common MITM scheme. Always call the number the payment comes from before you release the escrow.

Good thing amount was small.

Dear All,

I have myself been facing issues from the banks and wanted to start a thread where everyone can share any troubles they have had with their banks while trading cryptos.

Ofcourse the best way to is to go peer to peer but still there are issues.

Here are the ones I've faced,

One of my accounts was frozen when I received a not so large amount(4L approx) after selling some btc.
The bank in this case(Axis) asked me to explain the source of the money,

Secondly, There are also a lot of man in the middle scams where you might get unknowingly involved if doing peer to peer. In my case I detected the scam before I released bitcoins and was able to refund the money to the source while keeping my btc.

Finally, the problem of daily and monthly transaction limit plagues a lot of us traders.


I would like to encourage the community to come up and share their issues faced with the banks, Hopefully we can all find solutions to these problems.

How did the bank come to know about these transactions? Did you put anything related to bitcoin in the transaction remarks?
Or were they transfers from known exchange accounts?

I wonder if they'll try and pass a law and come after P2P traders next.

I saw another thread about a user getting a warning from his bank

Who tf is evn Vishal Gupta?

With Amit Bharadwaj out there are so many trying to fill his space.

Also shills gtfo. Go do something worthwhile.

Although I'm sure the general public is stupid enough to get scammed again and again. Greed is human nature.

I have Sykam Reddy's Bank details as I have traded with him before on localbitcoins.

If you want I can make them public if it helps any of you.

Yeah. Try using tomatocage. I've been using him since 2013. Most trusted escrow on this forum.

Would anyone be interested in receiving paytm from me and sending me equivalent amount of INR through bank transfer?

I don't mind paying 1% extra.
i.e I pay 1010 to get 1000 INR.

Assume daily volume to be 50K so thats 500 bucks easy profit a day for whoever would be interested.

Reason being I do a lot of trading through paytm and it only has a monthly limit of 25k to transfer to bank. So often have money just stuck there.

 

You calculate income based on your INR amount after selling the crypto - operating costs.

Then if your profit is in the taxable slab. You pay tax accordingly.

Simple. A third party(trustable party) holds your coins until the fiat payment is made. Once the payment recipient receives it and gives the green. The coins are released to the buyer.

Read localbitcoins FAQ. They have all info on an escrow.

So I used to deal with this guy and did a few trades quite a few times.
We traded through WhatsApp (no escrow). He used to send me the bitcoins first and then I transferred the amount. Must have done atleast 5 trades like this.

Yesterday he wanted to sell off some Btc again. He told me he was travelling and to transfer the funds and that his laptop was in his baggage and he would transfer as soon as he landed in Gurgaon.

So I transferred the 30.5k. I had dealt for much larger amounts earlier.
Anyway after this he just said he has now landed and told me to wait until he did the transfer.
After that he stopped replying altogether and switched off his phone. Today morning his phone was on but he didn't take my calls.


Here is the information relevant to him

Name: Aaftab Paul
Brought up in Ajmer, went to St. Anselm's school
Graduated school in 2010 I think

Mother's Name: Manju Paul
Sister's name : Aakanksha Paul
He's Currently living in Gurgaon Haryana
He works as a freelance guy. Has worked with ASLITsecurity, a Delhi based firm.

I have informed the firm of his practices too.

Mobile number: 9728885834

Bank details:

Name : Aaftab Paul
Account number : 082701504484
IFSC: icic0000827
New Delhi Prashant Vihar branch

I'll be filing a police complaint soon. But waiting a bit incase he returns me my money or sends me the BTC.

He's probably filling Deepak chawla's spot after his arrest.


If anyone has more info on him. Pls post below

Pretty good.

Getting 37mhash on a vega 56 WITHOUT blockchain drivers.

non uefi mobo so blockchain drivers don't work