Are these P2P crypto platforms SCAM?

[Assface16678]

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've used bitget and bybit when I'm doing my P2P transactions, and so far I didn't encounter any inconvenience in doing transactions there, but for a certain reason, I relocated to using a platform that has multiple functions, such as Binance, where I can do P2P and many more, and made use of their features. And because they are flexible, I can do more than just P2P, and they are also known, so it is advised to use the platform with popularity and reputation.

Although we here have experience on the said platforms, it doesn't mean that you are safe from malicious intentions, so you better do your best to make a safe and secure transaction and also avoid human errors. I'm not sure about the other mentioned platforms; it will be great if you do research on each of them, but if you truly trust the forum's members, then you could rely on the opinions of the members here.

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[Davidvictorson]

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 not used Paxful once but from people who have used it, there has not been any compaints of scams. I think one time they had an internal issue where the one of the co-founder Artur Schaback was fired. I think the issue was resolved but I never used the platform.

I downloaded the Bybit app with the intention of using for trading. I used it once and stopped becasue I feel that I could still Binance for the same purpose. I guess it was peer pressure that forced me to make that decision becasue they carried out a massive marketing campaign in my country. I can say that they are legit.

I am surprised I didn't see KuCoin and Binance there. When you are starting out go with the most popular exchange that has the top score and according to coingecko, the 3 largest cryptocurrency exchanges are Binance, Bybit, and Coinbase Exchange.

[Natsuu]

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.

Those exchanges are kind of in the middle not fully P2P like Bisq but not entirely centralized either. We have to keep an eye on user feedback to see which one suits your style best.

[Ayebabara]

I have seen those ones you listed in different social media ads. Though I have not used them to do any exchange but I also seen some of my friends using some those apps in their mobile phones. So I don't think they are for scam.

[Hypnosis00]

 - Bybit is just familiar to me but never had the guts to this platform because I was already satisfied with Binance's P2P feature.

After experiencing scam transactions before, I was now been careful in dealing with P2P transactions and it was preferred to use known or reputable platforms than those sites mentioned by OP.

I couldn't say they are scams but much better to play safe especially if we are already satisfied with the platform we use. It was not the fee or KYC but the trust and safety assurance that we have.

[fuguebtc]

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.

And it's your fault when you don't clearly understand the regulations and how P2P trade works on that exchange. I am a regular P2P user on centralized exchanges and to date, I have never encountered any inconvenience or dispute let alone a scam. Furthermore, the exchange itself is an intermediary and they can guarantee your safety if you comply with their regulations. In case you are scammed and cannot complain, it is clearly your fault.

P2P on centralized exchanges is not exactly pure P2P because of third party intervention, but it is safe and risk-free as you said .

[buwaytress]

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.

I agree, but not in the way worded. They're all legitimate P2P platforms in that they allow you to trade with other users. I used Localbitcoins for a long time, it KYC'd near the end, and died, but it was a very good entry into P2P.

Bisq and Hodlhodl are great, but beginners probably find it too daunting at first. If it's KYC, you might find anyway that some traders require some form of KYC from you if you don't yet have a reputation. Remitano for Southeast Asia's also a good place (KYC exists but you don't have to do it for P2P) to get good contacts.

[icalical]

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

On those lists, I have only used Paxful for several times, my experience is actually mixed, it is not always smooth, I encounter several problems where my BTC is not deposited into my wallet instantly but at the end of the day their customer support could solve my problem, but their respond is not always quick, so if you are in hurry I wouldn't recommended it. I usually use Binance P2P but since the money laundering issue, I tend to avoid doing any business with Binance, but in my experience using Binance P2P, most of the time it goes seamless, and when I got some trouble their support is usually quick in solving my problem.

[Potato Chips]

I would always recommend making the most out of your identity verification if you're willing to go through it!

Hence I'd advise skipping paxful or similar exchanges

First, their limits are too low for people who don't want to do address verification. Keep in mind that in most custodial exchanges, an ID + selfie alone unlocks far more limits.


Source: https://support.paxful.com/support/solutions/articles/150000104290-limits-and-verification

Second, a lot of full fledged custodial exchanges offers the same kind of hybrid "p2p" along with many more products such as spot, derivatives, etc. which who knows could come in handy for you in the future.

To sum it up, there are better choices for you so why not take a jump lol.

[Darker45]

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.

One reason why I don't consider the likes of Binance, and the rest of the centralized exchanges mentioned here like OKX, Bybit, and others that offer peer-to-peer trades, as legitimate is that they are centralized. To a significant extent, centralization and peer-to-peer are opposites. These centralized exchanges are actually acting as a go-between. They're middlemen, in other words. They even demand KYC from you. They can demand you to do this and that because the other party has already submitted valid proofs or whatever. So, trades aren't peer-to-peer, they're peer-to-OKX-to-peer or peer-to-KuCoin-to-peer.

[retreat]

Only Paxful can be considered a P2P crypto platform, the rest as you say are centralized exchanges. However, discussing whether it is legit or not, I cannot conclude directly, the platforms you say are already popular globally and have millions of users so they can be said to be quite trustworthy. But that does not guarantee that the exchange platform will be trustworthy in the future, because the possibility that they could collapse is very possible, as was the case with FTX some time ago. So always pay attention to your assets and if possible, there is no need to hold them for a long time on a centralized exchange.

[CODE200]

I think they're all credible exchanges except for Phemex, first time I've heard of that exchange so if you're planning to use that crypto platform to do a P2P then make sure that you're treading carefully if you're going to use this one or this should be your last choice on the lists that you've given, you're better off with what's also recommend the most by the replies here rather than blindly going in, don't lose your money over something stupid that you could've prevented. I personally use Binance but their KYC policy might off put you in using that, it's not inconvenient for me when I'm using it so I haven't had any problems that led me to changing platform to do a P2P trade.

[Nrcewker]

These platforms are not scam, rather some of the traders are doing scams on these platforms. So if you choose the right partner, then definitely you will be saved from the scams. If you ask me then I have used Paxful personally the most. It has really great user interface, and it is very user and beginner friendly to use. Just make sure to choose the correct trader while exchanging the coins and everything will happen perfectly.

[Cvetik56]

I'm not really sure if those are scams, but I don't trust them, especially Bybit. It's being promoted too much with unrealistic bonuses.

[Nothingtodo]

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

Normally you can use P2P trading between binance and Kucoin exchange because P2P cannot be used without KYC verification. However, there is no opportunity to do personal verification trading in the central exchanges mentioned above. Moreover, fraud in P2P transactions on Kucoin and Binance exchanges must be reported and immediate action taken.

[Life_Saving]

The legitimacy of P2P (peer-to-peer) platforms in the crypto space can vary widely, and it's crucial to exercise caution and conduct thorough research before using any platform. While there are legitimate and trustworthy P2P platforms, there have also been cases of scams and fraudulent activities.

[DapanasFruit]

I am using P2P in converting my USDT to my country's fiat money since it is very convenient, fast and safe (depending on the crypto platform, I guess). Since Binance is still operating here in my country, it is the most popular one and is the top choice of many and since we already have money app used by millions, transactions will be done in minutes. Right now, I am actually concerned since Binance has no proper regulatory permit here in my country to get involved with this business but I am hoping they can fix this problem ASAP. Now, I am not familiar with any other P2P platforms and because of that I could not recommend them to anybody.

[jrrsparkles]

Only Paxful can be considered a P2P crypto platform, the rest as you say are centralized exchanges. However, discussing whether it is legit or not, I cannot conclude directly, the platforms you say are already popular globally and have millions of users so they can be said to be quite trustworthy. But that does not guarantee that the exchange platform will be trustworthy in the future, because the possibility that they could collapse is very possible, as was the case with FTX some time ago. So always pay attention to your assets and if possible, there is no need to hold them for a long time on a centralized exchange.

FTX went bankrupt not run away with user funds so as long as the people are using exchanges for trading and not storing the cryptos for the longer term they do not really need to be worried about its long-term existence or their internal affairs. Some exchange's p2p is having difficulty dealing with scammers abusing their p2p platforms by sending funds from hacked bank accounts so when it comes to P2pP, it is better to prefer completely verified trader than just email and ID verified users.

[Ever-young]

- Paxful
- OKX

Last I had of paxful I think they were filing for a closure I don’t know if they succeed in ending there business or if they’re still operational, from what I have seen and had one time experience with paxful they were offering a little good P2P market there not until the number of scammers was more than the number of real traders there which you can even find a good pears go trust when engaging in trade adding to the fact that there KYC was later made compulsory for all.

OKX; this exchange is really confusing me as I can see one other one called okcoin which is somehow related to the OKX exchange and they need full KYC in other for it to be used, I will advice you to go through the forum exchange board to select few exchange used by many here with little trust history.

[johnsaributua]

I only use Bybit and okx in my daily P2P, although P2p but guaranteed because it is protected by the cex umbrella, for those of you who might be trying this is not a bad impression as long as you can find CEx with a good rating. The security provided in my opinion is very solutive between sellers and buyers even though it involves local banks, ewallet and other payments so far are very easy to understand for beginners though, because the cex also facilitates with a guide in the softwhare menu display. Also you can check the hystory of each seller/merchant there. Indeed, each cex has different rules and methods, but so far p2p cex has been very helpful to me and is cheap and even free if the means of payment is the same. than withdrawing from local cex directly which is done by the system converting crypto to fiat sometimes longer verification and added taxes