Are these P2P crypto platforms SCAM?

[kennyliang23]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Maybe these sound familiar to you but this is my first month into this game and I want to pick the right ones.

Thanks

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[Mia Chloe]

They may appear to be very legit but the most important thing to do when dealing with crypto especially is to be anonymous so try as much as you can to avoid KYC .
Keep your data and keys private and safe.

[paid2]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

I never used any of them sorry, so I won't vouch for them.

If you are looking for nice P2P solutions, I can tell that Agoradesk and LocalMonero are legit and efficient to buy/sell BTC/XMR. I used Agoradesk a lot for buying and selling cryptos, it is very nice. Once you found some nice users, it is just perfect imo. You just need to be carreful and check the rates.

Peachbitcoin is a good P2P non-KYC option too, based in Switzerland. Very smooth process, just a little bit boring if you are an Iphone user but still doable. (their app is still in Beta with iOS)

If you want to find legit P2P services, kycnot.me could be a great place to find links.

[BlackBoss_]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Maybe these sound familiar to you but this is my first month into this game and I want to pick the right ones.

Use two big websites to check them, Coinmarkecap and Coingecko. Those market websites have Trust and Reputation score for exchange and you can use those score as kind of reviews.

Want to know they are legit or scam, you can search with Google.

Paxful + scam
Bybit + scam

You will have results from Google and do your assessment on those results, to judge those exchanges.

Five exchanges you list, four are centralized exchanges and only Paxful is a Peer-to-Peer exchange.

Reminder: do not keep your money in online accounts

[Darker45]

Surely, you can't just label them outright as scam. Except perhaps for Phemex, all those centralized exchanges mentioned I have already encountered a number of times. And while I'm not a user of all of them, more or less they have already established a known and reliable brand. So while you may encounter an accusation or two against them, they probably can't be categorized as scam alongside the likes of YoBit and other notorious brands.

However, I also won't call them a legitimate P2P platform. They're like hybrids. They can't be categorized with genuinely legitimate P2P platforms such as Bisq, Hodlhodl, AgoraDesk, and others.

[Cantsay]

It will be better if you just go for the one that is known to forum members here.

I have an account in both Bybit and OKX but I’ve never made any deposit there since they are requesting that I complete kyc before I can perform what initially made me create the account.

You have already been showed Agoradesk but incase you want to use a popular exchange and you’re not the type that’s privacy conscious then you can also use binance [if you are ready to complete kyc verification] if you’re not willing to submit your documents then go for Agoradesk.

[DanWalker]

Surely, you can't just label them outright as scam. Except perhaps for Phemex, all those centralized exchanges mentioned I have already encountered a number of times. And while I'm not a user of all of them, more or less they have already established a known and reliable brand. So while you may encounter an accusation or two against them, they probably can't be categorized as scam alongside the likes of YoBit and other notorious brands.

However, I also won't call them a legitimate P2P platform. They're like hybrids. They can't be categorized with genuinely legitimate P2P platforms such as Bisq, Hodlhodl, AgoraDesk, and others.

A fair answer for all. Apart from Phemex, the rest are all reputable exchanges and OP can use one of them to start his crypto journey. The only downside is that they are all centralized exchanges and most people here don't like them so there will be accusations about them. But basically, they are safe to buy and sell cryptocurrencies.

OP, my advice, you are newbies and there are many things you need to learn before investing. Therefore, I recommend that you have the most basic knowledge about the market before thinking about investing. Investing in haste also won't help you make a profit.

[Despairo]

It depend on how you define scams in the first place.

If you're looking a real P2P platform, it's correct they're scams because they're nothing different with centralized exchanges.

But if you're just looking an exchange that won't steal your coins/funds, they're not scams.

They can't be categorized with genuinely legitimate P2P platforms such as Bisq, Hodlhodl, AgoraDesk, and others.

Bisq is more like a decentralized exchange rather than P2P platform because you don't have to depend on centralized server.

For me I use binance and mexc exchange and haven't use this ones listed or even know how they are secure .

Both of them are centralized exchanges.

[FinneysTrueVision]

The platform itself won't scam you but when you are doing p2p trades there is some risk that that you might get scammed if you are receiving a payment which can be charged back. If you don't use escrow you can be scammed also. This happened to me once when I was using a new p2p exchange where I wasn't familiar how it worked and mistakenly sent a payment before the other user's funds were in escrow. I got scammed but it wasn't a major loss. You should start out with smaller trades when you are just beginning.

[EarnOnVictor]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Maybe these sound familiar to you but this is my first month into this game and I want to pick the right ones.

Thanks

You've asked your question in the right forum, just read the replies of people carefully and the one with the most similar response should be your final choice.

Those services above offer P2P, but their strengths and operations vary. Like Paxful, you would be charged more, so I prefer you to go for direct exchanges like Bybit or OKX. But, I prefer Binance for you if you must be informed, more than all those exchanges you listed above. You didn't add it despite being the largest crypto exchange in the world. I've used it for many years without any issue even as I'd used others with a slight issue, so I can't be selfish to recommend it.

Only note that all these services are centralised (CEX), you might also want to also learn about decentralised exchange (DEX) if that's okay by you.

[sunsilk]

I'd avoid paxful because they have been closed before but then they have returned with a new management IIRC. And having that kind of attitude towards the business and that is why I wont be using them.

I have used Binance and I have good experience there but I was forced to comply with the KYC when they have changed their policy.

Right now, if you like to use decentralized p2p platforms. There is the bisq that's very known here.

[Outhue]

I will never say anything good about PaxFul because I was a victim to their scam years ago and it's something that always come back into my mind whenever I see the name PaxFul online, if you know what's best for you do not use this platform, they have the most terrible ways of handling trades, they give power back to the scammers and release your fund or gift card to them, this was what happened to me.

ByBit and OkX are both centralized exchanges, them offering peer to peer trade is like how Binance exchange is doing it's thing, but customers are asked to pass KYC, I believe the best P2P platforms don't need to ask for KYC or keep any form of data from their users.

They are not as good as AlgoraDesk, HodlHodl and others, they don't ask for any sensitive data, just you and the person you want to buy from or sell to, their job is making sure the trade is a success.

[kentrolla]

Bybit, OKX and bitget are centralized exchanges wherein you can trade and do P2P transactions as well but KYC has to be verified which takes out your anonymity and I would say you can trust exchanges but not the P2P traders there. We all know Binance is one of the most trust CEX but my friend's bank account got freezed because of doing P2P trading wherein the seller was involved in illegal activities and he had sent funds from a different account from which was not verified as a result he has to run around relevant authorities to get it activated again. P2P is a shady platform we need to be too cautious.

[bluebit25]

I have also used all of the above platforms but not all of them are used with P2P, the problem is that you will need KYC to fully implement the features you want and if you don't like that then switch to some services that people have shared before.

Anyway, these are most of the CEXs that are quite famous and have a stable number of users, so using them is a bit safe but will not completely guarantee you. In the crypto environment, it is better to be flexible and also to be equipped with more knowledge and skills to handle those things, and if you are newbie then I think you should start coming to the Beginners & Help to find the basics first.

[Oshosondy]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Maybe these sound familiar to you but this is my first month into this game and I want to pick the right ones.

Thanks

I have used Paxful before, I left the exchange when it started to make KYC mandatory. The exchange is not a scam. Also that others like OKX and Bybit have made KYC mandatory now also.

I am still using Bybit and OKX, they are both good exchanges. But I do not like the OXK mobile app, it is always slow if you want to select another coin or token from trading page, but it is good on desktop. Although the mobile app is not that bad.

Bybit is good, but I noticed too much trading fee deduction at times on the exchange which I may be wrong or right about. It is good for using altcoins to trade futures, unlike using only stablecoins as it is on most exchanges, you can also use stablecoins to trade futures on Bybit.  Stablecoins available are USDT and USDC for future trading.

I have not used Bitget and Phemex before but they are said to be legit exchanges. You can make more research about them to know if they are shady or not.

[gunhell16]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Maybe these sound familiar to you but this is my first month into this game and I want to pick the right ones.

Thanks

Bybit, Okx, and Bitget are fine for me according to my experience, and I don't see anything bad about them, to be honest. And I haven't heard of any scam issues; why are there?

It's just that the other ones you mentioned I haven't tried to use yet. But I often use Bybit because their service makes me feel faster when it comes to p2p transactions, whether it's deposits or withdrawals that you do as traders in the crypto space.

[KhanJohnson]

Have used Paxful in the past but my information is relatively old now. Still it was a fair experience.

[jrrsparkles]

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful

Paxful is a legitimate KYCed P2P platform, you can only trade if you complete KYC verification just like any other centralized exchange but here you can find offers from multiple people and choose who is giving the best deals.

I don't want to comment on others because I don't have experience using them.

The important thing, Paxful is filled with scammers which is different from the platform is scam or not, so you need to be very careful with choosing your trading partner in P2P. My suggestion is just to pick the traders with the highest feedback and liquidity and choose offers than is realistic and never pick any offer than gives 20 or 30% above the market rate, these are funds coming from hacked bank accounts.

[hugeblack]

Since you mentioned Paxful OKX, which has P2P options but requires KYC, why not use Binance P2P? I think you will find a large database there. If Binance is banned in your country, OKX is good, and stay away from Phemex and Bitget, as the degree of trust in them is lower than OKX.
If you do not want to complete the identity verification procedures, there are Agoradesk, Hodl, Hodl, and Bisq.

Remember that these platforms provide a safe way to make P2P deals, but you are still making deals with an unreliable third party. Look for an account with a high positive rating, read the terms carefully and ONLY release escrow after you are sure that your money has arrived.

[pakhitheboss]

Bybit, OKX and bitget are centralized exchanges wherein you can trade and do P2P transactions as well but KYC has to be verified which takes out your anonymity and

Paxful also has mandatory KYC apart from the three you mentioned. There are only a few centralized exchanges left that still allow trading without KYC.

I am kind of new to the crypto era, and I am wondering if any of these P2P platforms scammed or legit?

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

I am not sure about Phemex since I have heard this name for the first time. P2P scams are not due to exchanges but happen if you trade with a relatively new merchant listed on these platforms. If you are doing a P2P trade on any centralized exchange ensure that you do with a merchant who has a reputation and has made a significant amount of trade.