akamit
|
|
May 19, 2019, 07:49:23 PM |
|
Speaking from my experience as a trader from Localbitcoins, the main reason is probably because it is intrinsically difficult for the support to solve any dispute. The problem with gift card is that the seller could give the trader an used gift card and try to pass it off as legitimate. Due to the structure of the various sites, it is not possible for the gift card to be tracked and thus it is difficult to see who is telling the truth. It's more likely due to the hassle of managing such issues rather than its legitimacy. I've bought tons of gift card from there for personal use and I've never experienced any problems after redeeming them.
It's a good decision taken by LBC, and I pretty much agree with the reason you said. I also would like to see some actions from LBC about the KYC thing that some traders ask on top of the verified LBC account one have, who is trying to deal with the trader. Once I had a problem with one Neteller trader, and he asked my passport or ID for verification and I didn't give him as I don't trust anyone with my personal docs. Later we didn't make any trade, but the trader left a negative rating on my profile saying that I didn't provide ID for verification. Why do buyers need to provide personal docs to some unknown person while the buyers who already have a verified account on LBC? In my opinion it's totally unnecessary and I think LBC need to put some changes on their terms.
|
|
|
|
magneto
|
|
May 19, 2019, 09:24:51 PM |
|
Speaking from my experience as a trader from Localbitcoins, the main reason is probably because it is intrinsically difficult for the support to solve any dispute. The problem with gift card is that the seller could give the trader an used gift card and try to pass it off as legitimate. Due to the structure of the various sites, it is not possible for the gift card to be tracked and thus it is difficult to see who is telling the truth. It's more likely due to the hassle of managing such issues rather than its legitimacy. I've bought tons of gift card from there for personal use and I've never experienced any problems after redeeming them.
Exactly. That coupled with the fact that gift cards were always a high risk payment method probably prompted the change. Besides, AFAIK there's a lot more deals for selling/buying gift cards on LBC's main competitor Paxful (especially for anonymous deals) than LBC themselves. Though, does anyone know if this is just a removal of a category of payments on Localbitcoins, or an outright ban on trading GCs? If it's just removing the gift card category, then people are technically still able to trade gift cards under categories like "other online payments", or locally, through the platform. If it's an outright ban, how do they plan on enforcing it?
|
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
May 20, 2019, 08:08:07 AM |
|
Speaking from my experience as a trader from Localbitcoins, the main reason is probably because it is intrinsically difficult for the support to solve any dispute. The problem with gift card is that the seller could give the trader an used gift card and try to pass it off as legitimate. Due to the structure of the various sites, it is not possible for the gift card to be tracked and thus it is difficult to see who is telling the truth. It's more likely due to the hassle of managing such issues rather than its legitimacy. I've bought tons of gift card from there for personal use and I've never experienced any problems after redeeming them.
Exactly. That coupled with the fact that gift cards were always a high risk payment method probably prompted the change. Besides, AFAIK there's a lot more deals for selling/buying gift cards on LBC's main competitor Paxful (especially for anonymous deals) than LBC themselves. Though, does anyone know if this is just a removal of a category of payments on Localbitcoins, or an outright ban on trading GCs? If it's just removing the gift card category, then people are technically still able to trade gift cards under categories like "other online payments", or locally, through the platform. If it's an outright ban, how do they plan on enforcing it? As you mentioned people will still try to trade cards under online and locally category , do u think LBC which ban such payment modes will encourage the trader or advertiser, i dont think so , they have a fair chance to suspend account (just my understanding.) So ideally people will switch to some other paltforms.
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
malevolent
can into space
Legendary
Offline
Activity: 3472
Merit: 1724
|
|
May 20, 2019, 01:21:07 PM |
|
Once I had a problem with one Neteller trader, and he asked my passport or ID for verification and I didn't give him as I don't trust anyone with my personal docs. Later we didn't make any trade, but the trader left a negative rating on my profile saying that I didn't provide ID for verification.
Why do buyers need to provide personal docs to some unknown person while the buyers who already have a verified account on LBC? In my opinion it's totally unnecessary and I think LBC need to put some changes on their terms.
Were you the one to who were supposed to pay him via Neteller? If so, he didn't want to risk dealing with the risk of accepting a payment from someone with a hacked or stolen account. Verified LBC accounts can also be hacked or sold.
|
Signature space available for rent.
|
|
|
akamit
|
|
May 20, 2019, 01:55:06 PM |
|
Were you the one to who were supposed to pay him via Neteller? If so, he didn't want to risk dealing with the risk of accepting a payment from someone with a hacked or stolen account. Verified LBC accounts can also be hacked or sold.
Yes, I was the one who supposed to pay via Neteller in return of BTC. Thanks for the point! Yes, this could be a reason for asking the personal docs, but still how can we trust a stranger with our personal docs? Those traders later may use our docs for an illegal activity... What I was trying to say earlier in my post, that LBC should do something for all buyers & sellers so that there is no need for extra ID verification. If a solution introduced then both the buyer & seller will be safe imo. After that incident, both the seller and I (buyer) had to stop trading in LBC due to the poor rating on our profiles. But both of us hadn't traded nor we scammed each other, still left a negative rating in both of the profiles.
|
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
May 20, 2019, 01:58:14 PM |
|
Were you the one to who were supposed to pay him via Neteller? If so, he didn't want to risk dealing with the risk of accepting a payment from someone with a hacked or stolen account. Verified LBC accounts can also be hacked or sold.
Yes, I was the one who supposed to pay via Neteller in return of BTC. Thanks for the point! Yes, this could be a reason for asking the personal docs, but still how can we trust a stranger with our personal docs? Those traders later may use our docs for an illegal activity... What I was trying to say earlier in my post, that LBC should do something for all buyers & sellers so that there is no need for extra ID verification. If a solution introduced then both the buyer & seller will be safe imo. After that incident, both the seller and I (buyer) had to stop trading in LBC due to the poor rating on our profiles. But both of us hadn't traded nor we scammed each other, still left a negative rating in both of the profiles. In that case have u ever tried any other platform apart from LBC
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
malevolent
can into space
Legendary
Offline
Activity: 3472
Merit: 1724
|
|
May 20, 2019, 02:22:40 PM |
|
Yes, I was the one who supposed to pay via Neteller in return of BTC.
Thanks for the point! Yes, this could be a reason for asking the personal docs, but still how can we trust a stranger with our personal docs? Those traders later may use our docs for an illegal activity...
What I was trying to say earlier in my post, that LBC should do something for all buyers & sellers so that there is no need for extra ID verification. If a solution introduced then both the buyer & seller will be safe imo.
After that incident, both the seller and I (buyer) had to stop trading in LBC due to the poor rating on our profiles. But both of us hadn't traded nor we scammed each other, still left a negative rating in both of the profiles.
There's no other way other than LBC closely cooperating with every payment service provider (Neteller, and dozens more). It's best just to use LBC for in person cash trades. If you make your own ads you can also buy/sell below/above market rates.
|
Signature space available for rent.
|
|
|
akamit
|
|
May 20, 2019, 06:09:35 PM |
|
In that case have u ever tried any other platform apart from LBC
I have paxful account but I have never used it for trading or exchange. I've first heard about coinbaazar from this thread, it seems a new platform. So it's too early to use it unless some time has passed and seen some good reviews. There's no other way other than LBC closely cooperating with every payment service provider (Neteller, and dozens more).
Yes, I agree. It's best just to use LBC for in person cash trades.
Currently I'm only using LBC for local exchanges... and that is smooth. If you make your own ads you can also buy/sell below/above market rates.
When I was doing trading in LBC, tbh I was doing pretty good. But sometimes both balances in two wallets got imbalanced so it was required to do some quick trades to balance it. Well, it's too late for me, the stupid rating fucked me up and I'm totally out of LBC trading. Don't know if I'll ever start trading on LBC or not. Anyway, thanks for your inputs.
|
|
|
|
buwaytress
Legendary
Offline
Activity: 2968
Merit: 3684
Join the world-leading crypto sportsbook NOW!
|
|
May 21, 2019, 05:17:13 PM |
|
Thanks for the news. I somehow managed to miss out on all these even though I frequent the platform myself. Does anyone have the specific announcement or message? Just would like to see it for myself, even though I now confirm I don't see any of those options on my dashboard anymore. Most recent message was last week on yet another update to their Privacy Policy.
Never actually used any of those methods, always denied people wanting to buy with it too, they were always high risk to me and I guess even now too high risk for LBC. Surprised it didn't happen earlier actually.
Why its high risk for LBC , they are just providing trading platform, its the people who actually trade .Though trade high volume suggest people also wont care about high risk as far as they are protected by escrow services . I meant, it's high risk for me as a trader. And yes you're right, all that risk is transferred to traders and in general the experienced ones understand the risks and accept it without complaint (hence the almost ridiculous +Preev for those types of payments) but the smaller, newer ones generally are the ones to open disputes. So it's not just the compliance requirement, IMO, but also the efficiency aspect. If a method is creating a lot of support requests for LBC (in terms of disputes), then I can see why they'd just remove it. Escrow has to be released on receipt of payment, it doesn't prevent chargebacks or those cards failing down the line.
|
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
May 26, 2019, 07:40:16 AM |
|
Thanks for the news. I somehow managed to miss out on all these even though I frequent the platform myself. Does anyone have the specific announcement or message? Just would like to see it for myself, even though I now confirm I don't see any of those options on my dashboard anymore. Most recent message was last week on yet another update to their Privacy Policy.
Never actually used any of those methods, always denied people wanting to buy with it too, they were always high risk to me and I guess even now too high risk for LBC. Surprised it didn't happen earlier actually.
Why its high risk for LBC , they are just providing trading platform, its the people who actually trade .Though trade high volume suggest people also wont care about high risk as far as they are protected by escrow services . I meant, it's high risk for me as a trader. And yes you're right, all that risk is transferred to traders and in general the experienced ones understand the risks and accept it without complaint (hence the almost ridiculous +Preev for those types of payments) but the smaller, newer ones generally are the ones to open disputes. So it's not just the compliance requirement, IMO, but also the efficiency aspect. If a method is creating a lot of support requests for LBC (in terms of disputes), then I can see why they'd just remove it. Escrow has to be released on receipt of payment, it doesn't prevent chargebacks or those cards failing down the line. I agree with you.
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
May 29, 2019, 08:47:13 PM |
|
It's a very good decision in my opinion and Paxful should follow them because It doesn't matter how careful you are, you could fall for these scams one way or another. I remember buying some cards from someone on Paxful, and he used to have +1000 positive reviews while only a couple negative and then, his cards were carded. I managed to do some digging to find out that he's involved in some carding forums.
I had a very similar experience, except I started with the digging and so didn't send the guy any money. Not buying this excuse, credit card fraud happens with every commerce sector. If stores stopped accepting credit cards and only took cash because of a small percent of stolen cards they would be idiots. Its just the cost of doing business. It is something you factor into your costs. Only a small percentage of people are scammers, the bulk of your transactions will come from people with good intentions.
Things change when we're dealing with a pseudonymous currency, where it's too easy for someone to get paid for stolen stuff and disappear. This means you're attracting tons of scammers, and you're faced with a choice to either stop accepting risky payment methods, or introduce stringent KYC measures. We should understand one thing , out of few bad stuff , most the things that happens on these platforms are really helping people in one way or the other , be it trader or vendor and one thing we should realize ,,,paxful and LBC monopoly , they suspend account ,charge high fees, keep so much bonds , lets stop this together , tell everyone about this platform.
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
June 22, 2019, 08:00:59 AM |
|
In that case have u ever tried any other platform apart from LBC
I have paxful account but I have never used it for trading or exchange. I've first heard about coinbaazar from this thread, it seems a new platform. So it's too early to use it unless some time has passed and seen some good reviews. There's no other way other than LBC closely cooperating with every payment service provider (Neteller, and dozens more).
Yes, I agree. It's best just to use LBC for in person cash trades.
Currently I'm only using LBC for local exchanges... and that is smooth. If you make your own ads you can also buy/sell below/above market rates.
When I was doing trading in LBC, tbh I was doing pretty good. But sometimes both balances in two wallets got imbalanced so it was required to do some quick trades to balance it. Well, it's too late for me, the stupid rating fucked me up and I'm totally out of LBC trading. Don't know if I'll ever start trading on LBC or not. Anyway, thanks for your inputs. Just check coinbaazar.com , and then you will realize how good is that, i am using the platform and really happy , professional moderators , live help , low fee , no fees on incoming transactions
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
June 26, 2019, 04:52:13 PM |
|
Once I had a problem with one Neteller trader, and he asked my passport or ID for verification and I didn't give him as I don't trust anyone with my personal docs. Later we didn't make any trade, but the trader left a negative rating on my profile saying that I didn't provide ID for verification.
Why do buyers need to provide personal docs to some unknown person while the buyers who already have a verified account on LBC? In my opinion it's totally unnecessary and I think LBC need to put some changes on their terms.
Were you the one to who were supposed to pay him via Neteller? If so, he didn't want to risk dealing with the risk of accepting a payment from someone with a hacked or stolen account. Verified LBC accounts can also be hacked or sold. Now a days its happening everywhere , people are selling and buying verified accounts , dont know the exact reason , but i m surely using coinbaazar.com , its new and best as per my experience.
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
jvdp
|
|
June 26, 2019, 06:24:06 PM |
|
Is it so? I don't see people are complaining this is a problem since I am using this localbitcoins for long time but still I can see all the traders are giving any mode of payment. Samsung one you might get the payment directly p a bank account or some do Google pay the other payment option I believe missed to check options completely out there.
|
|
|
|
anshui (OP)
Copper Member
Newbie
Offline
Activity: 98
Merit: 0
coinbaazar - Escrow Exchange is launched worldwide
|
|
June 27, 2019, 09:03:06 AM |
|
Is it so? I don't see people are complaining this is a problem since I am using this localbitcoins for long time but still I can see all the traders are giving any mode of payment. Samsung one you might get the payment directly p a bank account or some do Google pay the other payment option I believe missed to check options completely out there.
I checked that we cannot create ad for most of gift card payments, thats why i switched to coinbaazar.com , also if we use paxful , it takes so much bonds , thats why its hard to earn and people become scammer because they cant earn much because of high fees.
|
coinbaazar -A low fee P2P escrow exchange with 100's of payment methods, launched worldwide , safe and secure , 2FA, google authentication, Best in market for traders and vendors.
|
|
|
someoldcoins
|
|
June 28, 2019, 03:22:22 PM |
|
i hate this site localbitcoin , its gate of scammers also their support is retard .... and give chance for strangers to access your identifying documents ...fall into disputes ..etc
i'm glad i escape from scam there . i pay way less fees on crypto exchanges that accept cards and still have peace of mind ,
|
|
|
|
|