Local peer to peer should be allow

[FiveG]

Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

[Lion02]

Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

It's true that some people find the transaction process for buying Bitcoin to be cumbersome. Simplifying the process through local banks or direct transfers could indeed make it more accessible. There are platforms that aim to streamline the buying and selling of cryptocurrencies, offering easier payment options and smoother withdrawal processes. You might want to explore exchanges that prioritize user experience and convenience to find a more straightforward way to invest and trade cryptocurrencies.

[pooya87]

That has nothing to do with bitcoin though. It is the problems inherited from the centralized payment system and fiat that bring regulations and KYC which makes the process of converting your fiat to bitcoin a complicated one. In other words this is not "transaction process" this is "conversion process" that has gotten complicated.
However, bitcoin is a currency and if you treat it as such you won't face as many problems. For example if you were getting paid in bitcoin like you are paid in fiat!

Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

DEX like Bisq is the closest thing to that.

[Poker Player]

Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

DEX like Bisq is the closest thing to that.

Apart from DEX, he can maybe try the Currency Exchange section of the forum, although he has a very limited offer and it is difficult to find a match for what he wants. I would take a look at it anyway.

I've also heard that there is a bot on Telegram for buying and selling with LN, but I don't know much about it.

[ranochigo]

It is allowed, and there are websites facilitating it though the popularity of them has dwindled through the years. Governments are tightening their grips on currency exchange, to manage capital outflows, terrorist financing, money laundering, etc. Legalized exchange between currencies would only become more and more difficult with more hurdles to jump through.

Your local OTC (a lot of exchanges are P2P but not OTC) transactions are likely to be less regulated but more sketchy.

[jrrsparkles]

I've also heard that there is a bot on Telegram for buying and selling with LN, but I don't know much about it.

If I am not wrong LNP2PBOT Non KYC btc lightning exchange is the one you are talking about, well I tried it but it seems it has only traders from specific country not all over the world so if anyone from that region can use it but to me its not really seems to be trusted.

If you wonder how to use it to buy/ sell on that bot via LN then here is the article.

How to Trade Non KYC Bitcoin P2P on telegram

Here's the bot : @lnp2pBot

[noorman0]

It depends on your base, there are some countries that legalize crypto where you can find many solutions for crypto activity around without intermediaries even possible using cash like Bitcoin ATM.
As far as I understand, the easier it is you at least have to pay a higher fee. It does not include the risk if you are dealing with random people with no clear trust status.

[aioc]

You did not mention your country or where you are located and what your country's policy regarding Cryptocurrency, here in our country we have a lot of centralized local exchanges where you can trade buy and sell Bitcoin within half an hour, for a country to be called Crypto friendly there should be a lot of options where people can easily buy and sell Bitcoin, they should make it easy especially for newbies who are buying Cryptocurrency for the first time.
Peer-to-peer is ok but there should be trust between two parties I always trade peer-to-peer but it's always on people I can trust but not on a huge amount of money, when a huge of money is involved I go for our local exchanger.

[KingsDen]

Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

The problem you are discussing is what the government created by a way of banning bitcoin or regulating the operations of cryptocurrency in different countries. There are some countries that bitcoin is not banned but banks are not permitted to make any cryptocurrency related transactions. This has automatically made the people in that area to resort to the p2p introduced by the CEXs.

The p2p proposed by Satoshi in the white paper can only be accomplished I a decentralized way. But centralization has eaten deep in the people. So, the problem you are seeing is not created by bitcoin but external bodies. It is either you follow the hard way to buy bitcoin or you follow the easy way and sacrifice privacy.

[o_e_l_e_o]

If you want to avoid all the crazy regulations, privacy invasion, security risks, and so on which come with centralized exchanges, then choose a DEX which allows you to trade directly peer to peer with other users. Bisq is great and has already been mentioned. Other alternatives include AgoraDesk and Hodl Hodl. See here for more suggestions: https://kycnot.me/?type=exchange

Peer-to-peer is ok but there should be trust between two parties

Any good DEX will minimize the need for trust by using escrow, smart contracts, or similar. Bisq for example puts the bitcoin to be traded and security deposits in a 2-of-2 multi-sig prior to fiat changing hands.

[Yamane_Keto]

p2p exchange has become popular compared to CEX for those who want to buy bitcoin and it differs according to the country and the regulatory framework in your country. whenever you find someone who wants to trade cash in exchange for bitcoin or by bank transfer, the faster the process, but it may be somewhat expensive as some ask for fees between 1% and 5%, especially in countries that are subject to financial penalties from OFAC. If you were in those countries, bitcoin might be the fastest and cheapest transfer method.

[michellee]

I think there are still people-to-person purchases like they used to do and don't use the official exchanges like people used to do. But we must be careful to find these local sellers because we don't know them well. Try to sell or buy a small amount of bitcoins to see how it goes and if they are really trustworthy, we can proceed with selling or buying a sizeable amount.

The important thing is we can trust the local sellers we find and if there is any suspicion, we can look for other local sellers. Usually, these local sellers can be found on social media to offer their services to friends or other people.

And try to meet the local seller so that we know who he really is and where he lives. And this can also prevent fraud because we don't know what will happen later.

[Z-tight]

And try to meet the local seller so that we know who he really is and where he lives. And this can also prevent fraud because we don't know what will happen later.

No local vendor would tell you where they live, surely nobody is going to do that for reasons that are so obvious, and you don't even need that information, if you are going to trade with a local vendor then you can do it face to face if possible, and you both will meet in an open place to carry out the trade. Follow safety measures when doing that.

The important thing is we can trust the local sellers we find and if there is any suspicion, we can look for other local sellers. Usually, these local sellers can be found on social media to offer their services to friends or other people.

It is not safe to trust people who advertise that they sell and buy BTC on social media platforms, too many of them are scammers. You should use a decentralized exchange such as bisq for p2p trade, and if you want to trade in-person, you can also use bisq to meet local traders around you willing to trade f2f.

[Faisal2202]

Most reason why people don't involved in the buying of bitcoin is because of the transaction process its really stressing and it has so many procedure's, before now in my country if you want to buy crypto is very simple you transfer from local account or bank direct to wallet but you have go through a whole lot of process from one channel to another before payment is made and the worst of it is during withdrawal you will discover that the stress of withdrawing your money is a tough one. I believe this peer to peer can be redirect to channel through local banks or account to crypto wallet straight and make more people to involved in investment and trading. Or is there platform one can buy and sell easily without passing rigorous payment system? Please share

Local Peer to peer is available on almost every exchange until someone from your local place is providing the p2p services like if you are trying to sell some BTC but no other local person wants to buy that BTC then no exchange could help you there. I hope you are getting my point here.

For example, if you use Binance exchange you have to send or lock you BTC into Exchange as exchange is middleman during the p2p trade only and once you will receive funds in your desired platform like some local platform instead of banks if you fo not prefer banks. Maybe some other finance apps which allows you to receive money but the condition is that finance app must be listed on Binance. Such as PayPal, etc. idk if PayPal is listed on Binance just saying it as an example.

[robelneo]

The creator of Bitcoin, Nakamoto emphasize peer to peer transaction without the middle man, nothing should stop you from doing peer-to-peer as long as you find someone you trust to transact with, but the problem is the conversion from Bitcoin to fiat and trust and this is where the third party or middleman comes in which is the exchange, they take care of the conversion and the trust.
It's part of the adoption to the mainstream that government imposes its rules and regulation to safeguard their people, your best option is the Curency exchange of this forum and where you can find in your area people who are willing to do peer to peer, nothing should stop you from doing peer to peer as long as you can trust the people you want to trade, I have done this so many times and still doing it.

[Darker45]

I get your point and I share it to a certain extent, but I agree with pooya87 that this is not about Bitcoin. This is not a problem about Bitcoin transaction. I'd even go as far as saying that this is not even a problem about Bitcoin conversion. Even AgoraDesk's volume alone suffices the amount that any ordinary person wants to convert. Conversion is easy. I can only speak of my local situation, though.

The big problem, however-- and I agree with you-- is when you make a withdrawal. Withdrawing money is indeed a tough one. If it's a meetup with cold cash on hand, it's not a problem. But when it involves the banks or remittance centers, you'd have to be careful not to deal with amounts large enough to trigger AML policies.

When somebody withdraws $20,000 here, for example, you better spread it across two different bank accounts at least. This has nothing to do with Bitcoin. This has everything to do with the fiat system. The moment they ask you where this money comes from, problems will begin to arise.

[coin-investor]

You're saying this because you happen to be in a country where there is strict regulation on buying and selling of Bitcoin, This is not the case in my country I can trade my Bitcoin and cash it out in a matter of minutes at our local exchanges do not impose strict and a lot of processes to convert your Bitcoin to fiat.

Bitcoin was created to be a peer-to-peer with no banking interference but as time goes by centralized institutions offer buying and selling of Bitcoin with strict compliance and because we cannot find someone with whom we can do peer-to-peer because of trust, we have no choice but to use the banking system.

You can find a group in your country where you can do peer-to-peer. Until such time, there comes a local exchange in your country that makes conversion from Bitcoin to fiat easy and comfortable for all holders in your country.

[yhiaali3]

There are some options for buying bitcoins, but they are limited due to the fact that governments monitor these transactions, so I found the best way to buy and sell bitcoins away from central exchanges and KYC is P2P.

In my country, there are still no laws prohibiting bitcoin, but despite that, and in anticipation of any change from the government, I always use P2P through a reliable local broker. There are brokers spread in every country, so you must find one in your country.

They charge about 1-2% on every dollar-bitcoin exchange or vice versa.

[o_e_l_e_o]

Usually, these local sellers can be found on social media to offer their services to friends or other people.

I can't think of anywhere worse to find a peer to peer trading partner than social media. The signal to noise ratio on platforms like Facebook or Telegram is heavily skewed towards "noise". These platforms are absolutely rife with scams. Far better to use a dedicated peer to peer exchange such as Bisq or HodlHodl which has safety features such as a built in escrow or reputation system.

For example, if you use Binance exchange you have to send or lock you BTC into Exchange as exchange is middleman during the p2p trade

Binance is a terrible choice for trading peer to peer. You get absolutely none of the advantages of actually trading P2P. You have zero security since Binance take custody of your coins, you have zero privacy since Binance can monitor all your trades, and you still have to complete KYC.

[Faisal2202]

Binance is a terrible choice for trading peer to peer. You get absolutely none of the advantages of actually trading P2P. You have zero security since Binance take custody of your coins, you have zero privacy since Binance can monitor all your trades, and you still have to complete KYC.

No doubts in that because it is what it is. But after seeing the interest of people in centralized BTC (talking about ETFs) I can say people really do not care for decentralization anymore. But still those who do for them Binance is the worst example and worst choice too. I was not trying to motivate anyone to use it instead I was using it only as example but you said it is also bad one so next time I think I should use a decentralized platform for example.