All of these tokens/coins are entirely centralized, in many cases not backed up fully and running fractional reserve, and also there are no guarantees whatsoever that their price is pegged to USD/bitcoin/whatever. So although HodlHodl's platform is perfectly legit, the coins they are supporting are pretty much scams, as far as I am concerned.
well, you either have a centralized stablecoin (USDC, USDP(paxos), USDT) or it is decentralized (DAI). I guess each has it's own tradeoffs. But there is going to be NO perfect stablecoin. the whole point of a lending platform is to obtain a cash equivalent for using some crypto (btc in this case) as collateral. so you must be against the premise of a lending platform entirely. although i do suppose a site like bisq could introduce lending to their protocol where cash was used instead of stablecoins...
I would work under the assumption that anything you do on a KYCed platform, be that a crypto exchange or fiat service like PayPal, is easily viewable by your government or tax authority should they want.
don't forget your bank account. anything going out of or into your bank account that can be audited could be audited.
Or maybe they just want a bit of financial privacy and not to have their bitcoin under the control of third parties.
Which was the entire reason bitcoin was created in the first place. I would point out that I have traded on various peer to peer platforms extensively and have never once been scammed. A few misunderstandings which have been fairly easily resolved, sure, but never an active scam.
well, as a buyer on these p2p platforms, i have a hard time seeing how someone could get scammed. the sellers are the ones that have to be more careful since many of these payment methods can be charged back later on down the road, 30 days, 60 days what have you...there is no seller protection once the bitcoins get released. then you're on your own. so you better hope they don't try and scam.
Are you saying that DEX users are mostly scammers or am I misunderstanding here?
I hope that's not the case. I mean the ones I'm suspicious of are buyers that want to pay using something like cashapp,wise transferwise, paypal who has little or no feedback ratings. yeah i think of those as scammers. they are probably getting fake id and opening up these accounts with these money transfer services. no doubt about that. it's pretty well known that some of these money transfer services will close people's accounts that are using them for any type of e-commerce which looks suspicious to them. enough said.
The seller can find a trustworthy buyer, though.
This.
Probably how o_e_l_e_o hasn't been scammed in his many DEX adventures.
