Have you heard of p2p trading?.

[Findingnemo]

But how do you perform such trades? Aren't trades supposed to be done on trading platforms such as binance? Curious about how this works, will research as well.

There are also p2p trading platforms available where a user can post their offer and others can respond to that ad with that they can buy or sell bitcoin and other crypto currencies with automated escrow. Localbitcoin is one of the most preferred p2p platform who is exist in the market for very long time.

[o_e_l_e_o]

But how do you perform such trades?

By directly sending money to each other. If you are trading without an escrow, then one person sends fiat to the other via something like a bank transfer, PayPal, cash, etc., and the other person sends bitcoin back. If using an escrow, then the bitcoin seller deposits the bitcoin to the escrow, the buyer transfers the fiat, and then the seller releases coins from the escrow.

Some platforms like Bisq go one step further with the escrow, requiring both parties to make a security deposit of bitcoin, and making the escrow trustless by using a 2-of-2 multisig between buyer and seller.

Localbitcoin is one of the most preferred p2p platform who is exist in the market for very long time.

LocalBitcoins used to be a good platform, but now requires just as much KYC as any other centralized exchange, and also requires you to give up custody of your coins by sending them to their wallets. There are endless reports of customers being locked out of their accounts and unable to access their coins. They are completely centralized, and best avoided.

[CrossroadBTC]

Yes and I have done it a few times with some of my friends. Since they are my close ones, escrow isn't needed. But I also have done P2P transactions in a face to face meetup where I sent him some fractions of BTC and paid me directly in cash.

Face to face meetup? Mehn if you are from my country you will get robbed at gunpoint or get kidnapped, anywhere you from it's wrong to make crypto transactions face to face, you never know who is watching or who will later betray you, don't do it every again

[FIFA worldcup]

A friend told me he quits crypto because his government banned financial institutions from assisting the funding of crypto site, he wanted to sell off all his asset with immediate effect then he contacted me about it , it was at that point I knew that most of us rush into crypto without knowing the basics or most of us use basic wallet like LUNO,
 I must ask do we know of p2p trading ?
Most high rank member do it here but I had do bring it because of newbie and people that don't know about it.
P2p trading meaning person to person trading , it's a kind of trading where two people with different assets wants to exchange , it might be  crypto -fiat , crypto - crypto or fiat - crypto,and during this trading they will be an escrow who will over see the success of this transactions , most top exchange have this feature and the act as the escrow to ensure a successful transaction , so you quiting crypto because of a government ban is a very funny option because crypto can't be banned.
That was just a brief explanation of p2p trading for those that didn't know about it , you could go read up or research on it for more understanding.

In most parts of the world, people can only buy and sell bitcoins into fiat through P2P trading. Localbitcoins, localcryptos and binance are the most widely used P2P trading platform across the world. I think everyone here knows about P2P trading because almost everyone bought bitcoin through fiat from any P2p trading.

[ololajulo]

I think the understanding of P2P at this time will help those who had to adopt it as a result of ban from their countries, where government is preventing banks from direct involvement in cryptocurrency-fiat exchange. This information can control worries from such quarters, it is also as important to use known escrow unit, better if exchanges provide such escrow services like binance does, more also their can be a direct investment in cryptocurrency with the exchange with escrow service.

[taufik123]

I think the understanding of P2P at this time will help those who had to adopt it as a result of ban from their countries, where government is preventing banks from direct involvement in cryptocurrency-fiat exchange. This information can control worries from such quarters, it is also as important to use known escrow unit, better if exchanges provide such escrow services like binance does, more also their can be a direct investment in cryptocurrency with the exchange with escrow service.

P2P trading services such as Binance are peer-to-peer bitcoin sales services that are more modern and controllable because Binance is your escrow for buyers and sellers so it will be safer. p2p owned by Binance supports all fiat currencies and is free of charge. The price shown depends on the seller, so you can choose the cheapest price for P2P transactions. This is Binance's latest move to introduce more options that can be used to buy Bitcoin or cryptocurrency easily by making payments using a debit card, credit or bank transfer.

[Peanutswar]

There is a lot of platforms offering p2p trading and one of these is finance but before you make a transaction this requires a KYC or know your customer for verification and avoiding having a scam and other complications that may arise during the transactions. Also, p2p trading is not only happening to the exchange too instead of in a real-life face-to-face if you want to buy a bitcoin or other coins to your friend still this consider as a p2p but make sure always make transactions only through safe places.

[o_e_l_e_o]

Binance is your escrow for buyers and sellers so it will be safer.

I disagree with that. With Binance, you have to use their centralized platform, give up custody of your coins, complete full KYC, place complete trust in them to protect your coins and data (both of which they've been hacked for before), and risk having your account and coins locked or frozen. With Bisq, for example, you keep custody of your coins, the escrow is between buyer and seller only, and you do not have to risk any person information. This is a much safer alternative.

If you are going to accept all the negatives of using a centralized exchange - loss of custody, loss of privacy, trusting a third party, etc. - then why bother with peer to peer trading at all?