Buying btc from a forum member

[Festac]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

[Csmiami]

they are lot safer

Sure.... I'll just post an article about last year

• Cryptopia lost 2.44 Million $ on ETH and 48 million CENNZ tokens (3.6 Million $ doing the math on my head)
• Binance lost 7000BTC
• Bithumb---19 million $
• Gatehub -- 10 million $ in XRP
• Coinbene--- unknown amount

Reference: https://bitcoinist.com/5-biggest-crypto-exchange-hacks-of-2019/

And that is only 5 places that got hacked, but sure, exchanges are safer.

And better, of course, because they keep our coins for us and can freeze at any time for our own safety until we provide enough KYC data to the. Everything are advantages when it comes to exchanges, I don't know how satoshi didn't make one himself as the main centralized service of his descentralized cryptocurrency!

[superving]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

maybe they can use escrow service for a safer transaction, it would be better if only small amount will traded. And also youre right about that  exchanges will be more safer than trading to another person.

[Krislaw]

One could get a positive trust if a DT decides to add you to their trust list or decides to write a positive feedback. This doesn't mean the person is forever trusted. Change could happen that's why you need to always check previous trade history of the person you're dealing and if you aren't sure of who you're with, you can use one of the trusted escrow on the forum.

[mongkie]

A trusted member messaged me after I asked about buying btc and said we could do a transaction. They assured me because they were a trusted member and had a reputation to keep, that I could feel safer about getting my coin. I was paying pay pal and because I had no recourse I only wanted to do a fairly small transaction to test it. The trade went fine and the btc was delivered as promised. I did one or two more transactions over the next week or two and again it went smooth. So my question is, is a trusted forum reputation enough to trust someone? I’m at the point now where I want to buy a substantial amount and it is too much money for me to feel comfortable doing the same type of trade. What should I do or suggest to the seller? An escrow of some kind? Thanks for your help.

Even a trusted member sometimes can do bad things if big amount of money is involve.  Always be careful in dealing to person you dont know because in these times were a lot of people need money , they can do bad things.

if you put a bait on a trusted person then you are adding risk to be scammed whoever the person is temptations are to be controlled but not every one can take it. there are lots of options where to buy safely then why risk? for me personally its a big no for me

[joniboini]

there are lots of options where to buy safely then why risk? for me personally its a big no for me

2-of-3 multisig is your choice. I think whether you buy from exchange or a person on this forum (or any P2P services) you still need some trust. Exchanges might be faster and responsive but if you talk about bad motive they can do all they wanted to do on your account. We have a lot of stories a user account got locked, deposit not credited, support not responding and so on. If they plan on exit scam, then you're doomed.

Ideally, you should always use an escrow, with sacrifices on speed and maybe fees.

[Swapzone]

I'm not saying you shouldn't trust anyone, but still, you need to be sure 100%, as there are a lot of scammers and they actually depend on your trust, so be careful.

[slackovic]

there are lots of options where to buy safely then why risk? for me personally its a big no for me

2-of-3 multisig is your choice. I think whether you buy from exchange or a person on this forum (or any P2P services) you still need some trust. Exchanges might be faster and responsive but if you talk about bad motive they can do all they wanted to do on your account. We have a lot of stories a user account got locked, deposit not credited, support not responding and so on. If they plan on exit scam, then you're doomed.

Ideally, you should always use an escrow, with sacrifices on speed and maybe fees.

I would choose buying BTC on an exchange over buying from a forum member every time. It's because there is little chance that an exchange will be hacked or shut down right at the time I'm making my investment. After I buy BTC, I withdraw it from an exchange to my wallet and I don't have to trust anyone but myself. On the other hand, when I'm buying from a forum member, I have to trust him or an escrow service with my money.

[akirasendo17]

a legit person will never send you a personal message, he will make a thread or will trade with you personally, don't trust a person just because he said he is legit, i have encountered this kind of scam, before specially now in telegram, they will send you a message asking you information, if they findout you have money, they will lure you to something then get away with your money so be very careful specially now, scammer are all over the place because of pandemic

[Golftech]

One could get a positive trust if a DT decides to add you to their trust list or decides to write a positive feedback. This doesn't mean the person is forever trusted. Change could happen that's why you need to always check previous trade history of the person you're dealing and if you aren't sure of who you're with, you can use one of the trusted escrow on the forum.

Correct, this can happen as OP mentioned he deal with the person and now planning to make a much bigger deal, for me it's best to have reputable escrow if the person really trustable he won't be bothered to use and guide OP on how to use escrow service if he really intend to make and execute good deal for OP.

[unknown-user]

Trust score won't be reliable, the user who gave the trust would matter and would add meaning to that whether other users in this forum should trust that particular user when it comes on transaction. But if you are really wanting  for assurance, just buy Bitcoin in exchanges or use wallets which allows users to convert fiat into crypto, Bitcoin perhaps.

a legit person will never send you a personal message, he will make a thread or will trade with you personally, don't trust a person just because he said he is legit, i have encountered this kind of scam, before specially now in telegram, they will send you a message asking you information, if they findout you have money, they will lure you to something then get away with your money so be very careful specially now, scammer are all over the place because of pandemic

Not all the time. If they do know one another in this forum, a user could still be a legitimate one even if he does so. But I do get the point that is why asking in this forum would be a good idea or asking those which are having good reputations.

One could get a positive trust if a DT decides to add you to their trust list or decides to write a positive feedback. This doesn't mean the person is forever trusted. Change could happen that's why you need to always check previous trade history of the person you're dealing and if you aren't sure of who you're with, you can use one of the trusted escrow on the forum.

This is right. Trust points would still be a number at the end of the day and the behavior of that individual cannot be measured by such thing. It would be better to use exchanges when you are planning to invest in crypto. But also, do check the reputation of the exchanger you would engage yourself into.

[CucakRowo]

Fyi, all members of this forum are STRANGERS (except for members who you already know in real life) for us. Green Trust (positive trust) is not a main parameter that members can be trusted. Green trust (positive trust) only serves as a filter that the member has never (not yet) done a bad activity. Imo, If you don't want to use escrow, always do transactions with money where you can afford to lose.

[demonica]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

It just means that it isn't enough basis to consider a person as trustworthy. You should check and verify things carefully because it's difficult to determine if a person's intention was good. There are various ways to buy bitcoin and buying from someone you just met online is a serious risk, especially when you're uneducated because there is a big chance that they will use that against you.

[fortunecrypto]

You should be both transparent and post that transactions for people to see, I have not experienced buying or selling coins from any members here but I do on my social media account because I can easily trace him, compare here where trust is only our guaranty, I wonder who is that trusted member whom you transacted.

[CucakRowo]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

I will call stupidity if :
- You make a transactions without looking the seller's background and not doing due diligence.
- You make a large purchases at first transactions.

Don't forget, at the beginning of the presence of this forum, there are many buying and selling activities among forum members.
But I also agree with your statement, exchange is still the best place for buying and selling activities.

[Olaphash]

You shouldn't have to worry if the transaction history of the person you're transacting is okay. I've done transaction with one of the reputable member here and it went smooth.

[Eugenar]

Always be careful when talking to somehow or if you are going to buy bitcoin no matter who the one you are talking to. If you want to assure yourself that you are talking to a trusted peson, you may visit his profile and check his or her trust summary, if he is a beginner in this forum becareful.

There are so many scammers in this virtual world they keep on telling good words just to persuade you on something if you are a person who are easily to belive on a small talks the you may be fooled because it will be advantage for them.

It is really hard to say if a person is not trustworthy jn just one look or even if you already have conversation with them so always be careful.

[Billybanjo5]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

Exchanges require kyc. So that may not be a problem for you but it is for some of us. I would rather do it peer to peer like btc was designed.

[sujonali1819]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

Exchanges require kyc. So that may not be a problem for you but it is for some of us. I would rather do it peer to peer like btc was designed.

Yes, the exchange requires KYC when you want to buy bitcoin with any virtual card. In this case, this forum is a solution of buying bitcoin without KYC. But you have to more aware during trading. using escrow services is highly recommended.

And yes, green trust it does not mean the user can not scam you. Basically when a lower rank account achieves some trust in very short periods. I also recommend you to trade a small amount always when you will not use escrow. also, keep aware about bitcoin double-spent. Don't send your money without any bitcoin confirmation done. Best of Luck

[CryptoInsights]

Buying BTC from a forum member is stupidity, even if the member has high green rating of trust your money can corrupt the person into giving up his or her account, we have exchanges for buying and selling coins, they are lot safer

Exchanges require kyc. So that may not be a problem for you but it is for some of us. I would rather do it peer to peer like btc was designed.

There are exchanges that do not need KYC for trading like CoinSwitch, Changelly Changenow etc., Also, it is safe to trade on a exchange. It takes time and lot of research to judge a member with whom you can trade.