Scammed on LocalBitcoins

[robbiearchibald10]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

[rosezionjohn]

Please show us a solid proof that you got scammed on localbitcoins. If you cannot provide any, I would assume that this post is just a bad attempt to advertise vertex. That is probably not the type of marketing that will help you gain users here. Try to play fair and just focus on the advantages you have over your competitors.

[Ucy]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Use paxful If what you are looking for is a peer-to-peer exchange or exchange like localbitcoins. Vertex.market doesn't look too genuine to me. I Googled the names but I am not very convinced by what I saw. Besides, the exchange promotions on this forum are exaggerated https://bitcointalk.org/index.php?topic=5194938.new#new

[iamaruf]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Please give us solid prove? there is no solid prove and you are trying to promote vertex.market. Maybe OP is the paid member of vertex. He didn't attached solid proves but opened this topic.if you can't prove then you are lying.     

[robbiearchibald10]

Please show us a solid proof that you got scammed on localbitcoins. If you cannot provide any, I would assume that this post is just a bad attempt to advertise vertex. That is probably not the type of marketing that will help you gain users here. Try to play fair and just focus on the advantages you have over your competitors.

Okay so first, I am not trying to promote any company, I found the above linked post because I searched for bitcoin talk about mining in china and noticed the post by Vertex. We sell on localbitcoins and every so often, we have someone reverse PayPal funds and we have to deal with the backlash.

I suggested Vertex because it was the post I was on and it seems legit, I registered, tried it and as I said, I made a few trades that went well, but I am the type of guy that doesn't sleep because he has a couple hundred "What If's".

I am open to any suggestions, realistically we just want to be able to trade with PayPal and not risk loosing every few trades if you don't conduct a fair amount of KYC.

[robbiearchibald10]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Use paxful If what you are looking for is a peer-to-peer exchange or exchange like localbitcoins. Vertex.market doesn't look too genuine to me. I Googled the names but I am not very convinced by what I saw. Besides, the exchange promotions on this forum are exaggerated https://bitcointalk.org/index.php?topic=5194938.new#new

Thanks for the honest feedback, we really appreciate it. We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

[adroitful_one]

I've used Paxful quite a bit over the years and I've never had any issues. I can vouch for Paxful. They put your money on hold in escrow until the trade goes through. So, it's really hard for someone to scam you on there. It's really safe. Especially if you only trade with people with good, positive feedback. Virtually no chance of getting scammed.

[nasipadang]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

the localbitcoin is a large p2p platform, if you are fooled you can report it, but don't expect returns if you have already made a transaction. I have never used Vertex Market, but some of my friends have used it and it is safe. I always use local exchangers in my country, and the exchanges are safe so far.

[btc_angela]

Is this thread one of this? Don't get tricked by hidden spam on this forum.

A newbie trying to hide his trick by asking questions about a certain services which majority of us never heard before. Sorry, but this looks like it, so I don't like to fall for this kind of trick here.

[joniboini]

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

[watergold]

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

It is true that I have to be aware of that I have never seen this forum discussing Vertex exchanges and I have just looked at this thread, but I wonder why the OP wants to try this exchange, there are still many safer exchanges? Don't you think again?

[_AlexX]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear that. As CEO of Vertex itself I know that this could also happen on Vertex if you do not pay attention to instructions (not accusing you of doing so).
The most common is the PayPal refund by a customer. This is why we insist on having the buyer add a payment reference and must validate his account on paypal with us first.

So far, not a single refund has been grated to scammers with this approach, however, if you just accept payment coming from a random account, you might get scammed.

The same applies for localbitcoins or any other p2p platform. I would assume that most scammers are active on every single platform, including Vertex but they can't do a PayPal scam if you follow instructions.

Regarding being scared to trade more than 100. please feel free to contact me in a PM and maybe I can help you overcome that uncertainty.

[audaciousbeing]

I can see alot of people suggesting Paxful for OP but the truth is that irrespective of the platform you trade, you run the risk of getting scammed if you fail to abide strictly by the rules sets by the administrators of the platform. I have seen people get scammed on Paxful despite the various protective measures put in place and the simple reason for that is not following the rule. I seen situations where people who felt the charges from Paxful is too much, or they felt they could get a better deal by having the discussion outside Paxful such as WhatsApp so they have a good deal, some would even be scoped to inform Paxful escrow to release the coins claiming fiat transfer is due to network among all issues. So, my advise is you should stick to the rule and you will be fine.

[Henri Cartier]

I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

[_AlexX]

I can see alot of people suggesting Paxful for OP but the truth is that irrespective of the platform you trade, you run the risk of getting scammed if you fail to abide strictly by the rules sets by the administrators of the platform. I have seen people get scammed on Paxful despite the various protective measures put in place and the simple reason for that is not following the rule. I seen situations where people who felt the charges from Paxful is too much, or they felt they could get a better deal by having the discussion outside Paxful such as WhatsApp so they have a good deal, some would even be scoped to inform Paxful escrow to release the coins claiming fiat transfer is due to network among all issues. So, my advise is you should stick to the rule and you will be fine.

On Vertex for example, there is no communication at all between the two parties. A chat just makes things more complicated. We know that from over 10 years of OTC trading experience, of course not just crypto.

Let us take PayPal as example. we do only allow a BUYER to use a paypal account he verified that he also has access to its email address. reducing the risk of "dispute: i have not made transaction". Then the BUYER is asked to put a reference code to the payment instrcution and ONLY SEND AS A FRIEND (also to avoid ridiculous fees of PayPal).

Now the seller, upon confirming that he received the funds has to confirm that

a) the account the money is coming from is the one we tell him it should be coming from
b) the buyer has put the reference code
c) has sent as a friend (not always available)

if a) and b) are not met, the seller should just refund the money and not confirm he received it. so simple, yet some users might then ignore our advise and go ahead.

In general, it is much better to use bank transfers. We have not experienced a single scam attempt with bank wires, not saying it wouldn't be possible.

[MathGame]

We looked at trying Paxful but on trustpilot.com they have a large portion (around 18%) of bad reviews so we were nervous.

I'm quite surprised to see you go with Vertex if you did this. Vertex is less famous and not many users use it, which obviously means that there are no reviews about them yet. What a brave decision (I hope?).

It is true that I have to be aware of that I have never seen this forum discussing Vertex exchanges and I have just looked at this thread, but I wonder why the OP wants to try this exchange, there are still many safer exchanges? Don't you think again?

Dude forget vertex go to Binance where you can trade like a professional. I don't advise people to use small cryptocurrency exchanges these days due to so many numbers of exit scams that were done by the small exchanges. You should avoid using small exchanges to avoid getting scammed by them.

[X-ray]

I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

I don't recommend P2P exchange simply because it is too risky there are plenty of safe alternatives out there and some people would still proceed using P2P exchange. Even if there's AML and KYC policies doesn't mean it's 100% safe there are plenty of datas sold in the darknet and they could just use that to fake the KYC. Not that I'm advertising them but website like coinbase or binance is a better alternativem and is a lot more safer than dealing with individual who you don't even know how their face is.
When you are using P2P it's your ability to choose the person to make a deal what matters most. Even the platform where you want to make a deal doesn't really matter that much localbitcoin or vertex basically the same thing.

[_AlexX]

I don't know about Vertex but I have come across some Scam reports about LocalBitcoins. You can check the Scam reports on Reddit, Trustpilot and CoinCrunch. As LocalBitcoin is a peer to peer service, we are not sure how safe it is? But recently it has introduced AML and KYC policies, which may reduce the Scams.

I don't recommend P2P exchange simply because it is too risky there are plenty of safe alternatives out there and some people would still proceed using P2P exchange. Even if there's AML and KYC policies doesn't mean it's 100% safe there are plenty of datas sold in the darknet and they could just use that to fake the KYC. Not that I'm advertising them but website like coinbase or binance is a better alternativem and is a lot more safer than dealing with individual who you don't even know how their face is.
When you are using P2P it's your ability to choose the person to make a deal what matters most. Even the platform where you want to make a deal doesn't really matter that much localbitcoin or vertex basically the same thing.

Honestly, I feel p2p is on a long run much safer. First of all, you keep your funds in your wallet at any given time. Then you can keep your privacy, but not using a centralized exchanges deposit and kyc combination.

I agree with you with KYC is not really making it very much safer. in fact, you don't need the darknet to buy fake accounts on almost any platform, just go into some telegram groups and you see many offers there.

Calling crypto exchanges to be the solution for the average john doe, is like saying that everybody should get their foreign currency when they travel through a FX trading platform. Unfortunately, 98% of the people (maybe the ones who dont' care about bitcoin right now??) do not want to know what an exchange is or what an an order book or a market order are

[ecnalubma]

Is this thread one of this? Don't get tricked by hidden spam on this forum.

A newbie trying to hide his trick by asking questions about a certain services which majority of us never heard before. Sorry, but this looks like it, so I don't like to fall for this kind of trick here.

Yeah probably sort of, why don’t they just direct their pure intentions than creating a fabricated issues just to catch readers attention. Considering it a fail marketing when they use this kind of strategy and expect readers will less interested in this kind of company tricks.

[Suslived]

I got scammed on LocalBitcoins and started looking for new p2p trading platforms in South Africa and came across Vertex Market (https://vertex.market ) as they posted on BitcoinTalk. Here: https://bitcointalk.org/index.php?topic=5194938.new#new


Has anyone used them before? I have already made a couple of small trades which all worked but nothing over $100 because I’m a little scared putting in large amounts on a platform I just found.

The platform works great but I just want to know if anyone else has used it and if anything, bad has happened? It will probably be my go-to trading platform but need to confirm first.

Sorry to hear about it. But, how do you get scammed on LocalBitcoins?

Isn't localbitcoins a place where in order to trade bitcoin or other cryptocurrencies, you have to meet the other person face to face in real life? Haven't used it in a while but I imagine if you meet someone in person you don't let him/her just walk away until the trade is completed.