Avoid trading crypto in real person. You can see this now on Binance.

[JunkieMiner]

As from the very start I knew that these exchanges won't be safe at all, we should always make ourselves fund by doing it in some hard wallets and keep them their even they are at that place, it will be too difficult for the hackers to hack the hard drive. So, there are many hard wallets people are using and they have get rid of the hacks as they always don't believe on the Exchanges.
You also know that exchanges are not good at all for storing of the fund. It can be only safe when we are doing the trading their and when we are doing some spot trading and other ones.

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[coolcoinz]

With enough precaution it's doable, so I don't agree that we shouldn't trade in person. Just think about it for a moment. If someone wants to buy $1k of bitcoin from you, and you live in a first world country, you don't really have that much money on you. Just set up a meeting in a public place, don't come in your car, just get a taxi or ask someone to drive you, then make sure you don't get followed back home.

In a situation where you want to sell a lot of bitcoin, 100k+, make sure to go with someone that you trust. Do all the same steps to avoid being followed, meet in a place where there's security, like inside a shopping mall, in a lobby of a bank, at a post office... You'll have cameras there and people who will stop a possible assault. Let's not be paranoid. People have always traded things like cars and motorcycles for cash. I've bought a car with cash 2 years ago and it went smooth.

[Ndabagi01]

You can now trade bitcoin and other crypto with other local traders on Binance and you will meet at a particular place that both of you talked about.

This is just not different from KYC if you trade with bad person. Avoid such physical trading.

I'm just hearing this for the first time; it appears to be a new invention in the exchange, but I'm not sure what the motivation is. What do they need to discuss when transacting via p2p that they can't do on the exchange chat app? This makes no sense to me. This has not only compromised your online privacy, but it has also compromised your physical privacy.

The world is a cruel and insecure place to live, exposing your physical self and worth to anyone is not ideal. This will end up putting your life at greater risk than the money you saved in the exchange. If this is how it works, it isn't even worth considering. Stay away from exchanges, they’ll keep demanding to know more and more about you at the expense of your privacy and safety.

[Marvelman]

/.../

All these cautions just because I want to trade cryptocurrency with a vendor through exchange? This is too much mate and it is not safe at all, in d=fact it will cost some money if you really want to see person in a public place, and your privacy is not there anymore. The best thing is to keep doing the normal p2p trading in the exchange and maintain your privacy with your fellow trader. Or if possible avoid KYC exchanges and trade in none KYC exchanges.

I don't know. Taking precautions with peer-to-peer trades involving big money just makes sense to me.  It's like buying a used car from the owner directly instead of through a dealer.  You wouldnt meet up to make the trade in some dark alley in a sketchy part of town.  No way.  You'd pick a public spot, maybe bring a friend if you could, that kind of thing...

You can't be too careful with that much money changing hands between strangers.  So yeah, taking precautions is normal and smart with high-dollar p2p deals.  I don't think twice about it.

[pixie85]

I've never been afraid of going out into the world and exchanging bitcoin. I do it in public and I've never had any problems.

Most of the time bitcoiners are really friendly. We exchange opinions about the market and joke around from funny situations, even talk about memes and tell bitcoin jokes.
I've never become real friends with any of these people because we're both cautious, but it was always a good experience.

If people were to target you as a bitcoiner, wouldn't they simply go to a bitcoin conference and follow people who attend?

[SatoPrincess]

If people were to target you as a bitcoiner, wouldn't they simply go to a bitcoin conference and follow people who attend?

You make a interesting point. I attended a few crypto events and seminars in my newbie days, and this is why I think it is difficult to target people who attend these events. Not everyone who attends a bitcoin conference has bitcoins, they may be a newbie who is simply just interested in bitcoin or someone who is just there to network. It’s difficult to tell who is who in these events, but if I’m certain you have $10k bitcoins in your wallet, then you definitely have a target on your back.

[Adbitco]

Trading crypto in cash with person physically is the last thing I will ever do because you don't know what the opposite person may have in plans for you whereby you can be targeted and  get robbed maybe also go with your funds and coin.
I would prefer trading p2p in the forum here with an unknown user than involving in such transaction, that is why we need to be very mindful. Why would exchange include trading with person in cash physically why not they removed that options since is not safe for both parties?

[Stepstowealth]

This is just not different from KYC if you trade with bad person. Avoid such physical trading.

I will not be very interested in meeting someone who I want to trade my bitcoins with especially when it is a lot I intend trading and because it something we can do on the phone without the need of seeing or meeting each other. It is difficult to always trust the intentions of people especially the people you meet from the online place. There are many concerns about safety in my country because a lot of terrible things can happen, so I will not want to put myself in harms way by physically accepting to meet a buyer or vendor to trade.

[Broadanbig]

I was thinking if the KYC they had initiated is not good enough for them but have gone this far to have cash option for trading when some people are being haunted in their various homes as a result of their leaked identity. If not for KYC leak, how did the criminals get to know people in Sweden who owns Bitcoin and other assets. Many are currently attacked at their homes and roads just because their identity was leaked as a result of the carelessness of the third party exchanges.

[Tuturtinular]

You can now trade bitcoin and other crypto with other local traders on Binance and you will meet at a particular place that both of you talked about.

This is just not different from KYC if you trade with bad person. Avoid such physical trading.

I don't know or have never used a method like this on binance, or maybe it's not available in my country? But I'm not interested in selling bitcoins to people offline because it's a hassle. I prefer selling bitcoins online because it is simpler and safer. Apart from that, there is also a risk of crime behind it so making online transactions is better in my opinion, I don't see the urgency in selling bitcoin offline.

[Rikafip]

Do you not think that doing physical P2P trading might been abused by robbers?

There is always a chance of that, but I am doing everything necessary to lower the chance of that happening to the minimum possible. Thing is, since I've been doing this for years I now have reliable people so I don't have a need to meet a total stranger in order to have trade bitcoin P2P.

[JunkieMiner]

Personally I go for the orders in the Binance for those which are verified one. Because in the online things I didn't ever trust others whether it may be in the form of banking system or it may be in the form of other money. But still can't believe other people because we have seen hackers are there and the people which needs money like robbers just scam the money and they went away. So I believe that when I enter a good and well known platform of trading I should ensure my security and I should also care of my own security by myself.

[Mpamaegbu]

You can now trade bitcoin and other crypto with other local traders on Binance and you will meet at a particular place that both of you talked about.

Why would anyone even contemplate doing that, in the first place? The reason we don't know who Satoshi is till date should hit anyone why they shouldn't compromise their privacy. That's one. The second thing why I wouldn't touch the F2F thing, even with a long pole, is the lack of convenience it provides. Leaving my home to meet up with anyone for business transactions is a stress to me. I can only indulge such when it's the last resort. I like online transactions. I can't even remember the last time I walked into a bank to do my transactions. ATM transactions are also beginning to bore me too. So, with one trying to get all of that out of the way, why would one then subscribe to a face to face crypto deal that preaches much privacy? It doesn't make sense at all.

[Plaguedeath]

It's not a problem when you trade small amount of money, maybe less than $500-$1,000 should be fine, depends on your country too.

If you worried to be known as rich person, what about people who wear/use a branded cloth, bag, gold accessory, high end laptop, big bike etc on the street? do they scared about that? no, they want to show to everyone if they're rich.

I mean, they have more than what you have, the criminal should target them, not only you.

[Outhue]

It's a problem for me to trade Bitcoin with anybody face to face, sorry, many things have happened that have robbed me of the little trust I have left in humans, just because the amount you trade is little doesn't mean you are safe, those who you trade with already know that you are into crypto and that's all they need, just pray that they are good people, because it's possible for them to think that you have more, saying that you will trade less amount face to face means you still trust people and I pity you.

Hunger and poverty is now what people put blames on when they do evil thing to humans like them, they are willing to hurt you for small amount and you are here saying that doing face to face trade is save if you are trading small amount, it's a no no no for me, I don't know what makes Binance have that option available, I have always see it on my Binanace account and I believe it's the most stupid thing an exchange can have as payment option.

Satoshi goes hidden for this same reason and you want to do this openly? It's stupidity, once your face is known that's it, avoid doing this, it makes not even the slightest sense, binance is baking like a kid implementing this option, and they should have learned when their workers where forced to empty their crypto wallets.