Are these P2P crypto platforms SCAM?

[taufik123]

First of all this topic doesn't belong to this section, At the same time I'm wondering why the moderator hasn't moved it out to the Exchanges section.

Yes, this thread should be moved to the Exchange Board, because it discusses P2P related to CEX.

Hmm, most of them are renowned platforms, and you can consider them reliable, especially for Bybit & OKX I'm sure they have a good support team, and response to complaints also I've personally used them. So I can say they are pretty reliable for the rest I cant say anything.

OKX, Bybit, Binance, Bitget are some of the exchanges that I also use, it is a popular and most used Exchange for P2P and all of them run well.

But what needs to be considered, every Exchange will implement KYC to be able to use P2P features and this must be realized by everyone.
Those who don't want to be bothered with KYC, just forget about CEX and do it elsewhere.

[BenCodie]

I don't think any of the listed exchanges would be considered P2P? Just because an exchange has an internal transfer function where you can send to accounts internally, that does not mean that it is P2P on the same level as Bitcoin.

All of what was listed (AFAIK) are centralized exchanges, maybe with internal transfer functions.

If you are looking for a higher level of P2P, look for decentralized P2P services. For example, Bitcoin is a decentralized peer to peer network, Bisq is a decentralized Peer to Peer exchange, etc.

Decentralization is a key pair with P2P. With it, you can interact with others while protecting your data/privacy from big corps.

If you don't care about decentralization, protecting your data/privacy from big corps, etc. Then use centralized exchanges. KingsDen describes things quite well below:

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

It all depends on your definition of scam;

• If depositing fiat, using it to buy crypto and withdraw it is what you consider as legit, all of them could be legit.
• If asking for KYC is what you consider as scam, all of them could also be scam

But if you are willing to submit your data in the name of KYC, using popular exchanges like binance could be the best choice.

[GreatArkansas]

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Among the list, I only tried P2P trading is only Bybit, it's really legit and also easy to trade there, the User Interface and user experience of Bybit are really smooth, user and newbie friendly.
Other from the list , I didn't tried because I also consider famous or popular exchanges or platform in my country.

[LogitechMouse]

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 heard all of these exchanges at least once already, and I guess they're still operating right now. Although I'm not using any of them since I'm only using Binance, I guess these are legit exchanges, and many here are using these ones especially Bitget I guess which is the one that most Youtube influencers are promoting non-stop.

Since you are asking exchanges for you to make a P2P transaction, I guess it would be better if you will just go on decentralized P2P platforms. Well, I'm using Binance to make P2P transaction and I didn't encounter any problem on it. It's just that, it's centralized exchange and you need to do KYC to access their exchange.

Learn more OP. Watch more educational videos, and don't stop asking here. Also, it would be better if you will just use the search button I guess because there might be some threads here already that has been made in case you have a question.

[KingsDen]

I don't think any of the listed exchanges would be considered P2P? Just because an exchange has an internal transfer function where you can send to accounts internally, that does not mean that it is P2P on the same level as Bitcoin.

All of what was listed (AFAIK) are centralized exchanges, maybe with internal transfer functions.

If you are looking for a higher level of P2P, look for decentralized P2P services. For example, Bitcoin is a decentralized peer to peer network, Bisq is a decentralized Peer to Peer exchange, etc.

Decentralization is a key pair with P2P. With it, you can interact with others while protecting your data/privacy from big corps.

If you don't care about decentralization, protecting your data/privacy from big corps, etc. Then use centralized exchanges. KingsDen describes things quite well below:

Thanks Ben.
It is disturbing that the original idea of Satoshi about escrow is no longer popular among bitcoiners and especially newbies who are reluctant to learn. As against the true escrow, what people now consider as escrow is;

• One person serving as a third party among two parties who wants to trade 
• CEXs serving as a third party among her users by moderating the trade

Apart from the above two, the original p2p that is described by Satoshi in the bitcoin whitepaper which is highly related to decentralized system is fast dying off. I don't think this will be redeemable in the short period. This is because the first place that newbies sign up and create wallet is in the exchanges. From there, they will witness the exchanges P2P and will settle for that for a very long time and possibly introduce other latest newbies to the same system and process.

[Y3shot]

Their are lots of p2p crypto exchange that are scam, if you don't know how to figure it out if an exchange is a scam exchange it is better to stay away from crypto exchange that are new and not being use by many people. Going for a well known exchange is better and safe that you dealing with new exchange,  their are lots of popular exchange which you can trade with it. Normally exchanges are not even reliable and it will be so risky to invest in the ones that you are not even sure about like the new ones.

[BenCodie]

Thanks Ben.
It is disturbing that the original idea of Satoshi about escrow is no longer popular among bitcoiners and especially newbies who are reluctant to learn. As against the true escrow, what people now consider as escrow is;

• One person serving as a third party among two parties who wants to trade  
• CEXs serving as a third party among her users by moderating the trade

Yup, unfortunately this where we are for the time being until the next big exchange problem, private data leak or hack that creates an experience for victims that forces them to find the safer alternatives...or until the next decentralized exchange innovation that can somehow capture their attention so much that it enthuses them to try it over the cex.

Apart from the above two, the original p2p that is described by Satoshi in the bitcoin whitepaper which is highly related to decentralized system is fast dying off. I don't think this will be redeemable in the short period. This is because the first place that newbies sign up and create wallet is in the exchanges. From there, they will witness the exchanges P2P and will settle for that for a very long time and possibly introduce other latest newbies to the same system and process.

Unfortunately, you're right. The Bitcoin ecosystem definitely isn't the "decentralization and peer to peer" beacon that it used to be. I guess all of the strong leaders were made too wealthy to care as much (ideally, for them).

Hopefully that changes in the near future.

[Iamcrypticguy]

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 heard all of these exchanges at least once already, and I guess they're still operating right now. Although I'm not using any of them since I'm only using Binance, I guess these are legit exchanges, and many here are using these ones especially Bitget I guess which is the one that most Youtube influencers are promoting non-stop.

Since you are asking exchanges for you to make a P2P transaction, I guess it would be better if you will just go on decentralized P2P platforms. Well, I'm using Binance to make P2P transaction and I didn't encounter any problem on it. It's just that, it's centralized exchange and you need to do KYC to access their exchange.

Learn more OP. Watch more educational videos, and don't stop asking here. Also, it would be better if you will just use the search button I guess because there might be some threads here already that has been made in case you have a question.

Don't you think why lots of users are talking about Bitget p2p is cos they've had a favorable experience using the feature?

[Tipeform$]

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

OP among all the exchange platforms you have listed here for p2p, I have heard of OKX, Bybit and Bitget exchanges but I have never p2p on all these exchange platforms. I used binance exchange platform for p2p because binance exchange platform has easy means to convert cryptocurrency in p2p to my native currency. There is almost no chance of getting cheated from here. But in some cases there is a possibility of being cheated, that possibility can be eliminated if you get the money and confirm it and release it.

[Casdinyard]

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 can vouch for the legitimacy of some of these sites. Particularly Bybit and OKX which are honest to God crypto exchanges with P2P options granted to its users. The rest of the list I have no idea anymore and couldn’t really say anything about their legitimacy, since this is the first time I’ve heard of them (except phemex which if I’m not mistaken is an up and coming crypto exchange hailing from India.

As a matter of fact since Binance is slated to be discontinued for  usage in the Philippines a lot of my folks are looking at Bybit and OKX as great alternatives for the crypto exchange giant which says a lot about how honest these sites are considering they are already being used by crypto users in my country as we transition into a new crypto norm.

Good on you for actually asking around about some important questions as a crypto newbie. It’s quite easy to be so negligent about these things especially when Trustpilot exist but if you could realize just how easily manipulated Trustpilot could be you’d never ask it for anything to do with checking something’s legitimacy. Anyway I think I’m going off on a tangent here already and I’m kinda rambling nonsense at this point. Just always ask around here for any questions you got and we’ll be here to help you.

[CryptoHeadlineNews]

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

I have been able to navigate all three of these exchanges above, and the truth of the fact is that none is totally scam free, but there are some certain measures one can take to avoid getting scam via the p2p trading section, because I noticed that when it comes to "Bybit and OKX" it is a must to verify KYC before you could be giving access to assess p2p trading, unlike Paxful whereby both verified none verified has access to p2p trading, hence, resulting to series of complaint and scam accusation. But if you could filter either buyers or sellers to only "verified users", then you are likely to trade conveniently without been scammed.

[sheenshane]

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Among the list, I only tried P2P trading is only Bybit, it's really legit and also easy to trade there, the User Interface and user experience of Bybit are really smooth, user and newbie friendly.
Other from the list , I didn't tried because I also consider famous or popular exchanges or platform in my country.

Is this Bybit exchange the same as Binance in that you must pass KYC before doing such p2p trading?

Among all those on the list, I heard a lot of negative reviews on Paxful ever since, I think it depends on the P2P platform that you can trust.
Because there is a p2p that you can truly trust, the risk of having a transaction on p2p is quite risky.  Because it should be a P2P exchange that provides easy access to transaction records and history, it's generally more trustworthy.

[Reatim]

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

Have not used any of those but there are 3 familiar names in your list that has a bad reputations and those are

-Paxful

-Bybit

-Bitget

and those two others are for you to decide .

[Oneandpure]

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

All P2P exchange platform your recommended list is trust but depend on person or seller you make transaction when selling or buying your stable coins there trough P2P. All exchange as third party only and not get directly sell the stable coins there, you make transaction each other your community country by using the exchange with supported P2P. But all P2P will help you when getting or finding the scammer without process sending your stable coins and get refund back your money, before making transaction trough P2P check first the seller or buyer active or not to make your transaction process faster.
Looking the seller has high reputation with their account as most verified seller, actually they will process faster with your transaction and don't try to fins higher or lower rate to protect with scam P2P seller.

[Vaculin]

- Paxful
- Bybit
- OKX
- Phemex
- Bitget

Among the list, I only tried P2P trading is only Bybit, it's really legit and also easy to trade there, the User Interface and user experience of Bybit are really smooth, user and newbie friendly.
Other from the list , I didn't tried because I also consider famous or popular exchanges or platform in my country.

Is this Bybit exchange the same as Binance in that you must pass KYC before doing such p2p trading?

Among all those on the list, I heard a lot of negative reviews on Paxful ever since, I think it depends on the P2P platform that you can trust.
Because there is a p2p that you can truly trust, the risk of having a transaction on p2p is quite risky.  Because it should be a P2P exchange that provides easy access to transaction records and history, it's generally more trustworthy.

P2P is quite risky if the platform can't be trusted as well. Though I'd never use any of those platforms but I think the same rules apply in using such a P2P feature, we should choose the reputable platform instead. I often use the known Binance P2P and it all works so well, never been scammed yet (I hope not). For me, it was not necessary to try another site if we were already comfortable with the current platform we are using. It was not just because we are familiar already but the trust seems too hard to give for new sites especially if the rate is quite questionable.

[Joseph-P]

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 heard all of these exchanges at least once already, and I guess they're still operating right now. Although I'm not using any of them since I'm only using Binance, I guess these are legit exchanges, and many here are using these ones especially Bitget I guess which is the one that most Youtube influencers are promoting non-stop.

Since you are asking exchanges for you to make a P2P transaction, I guess it would be better if you will just go on decentralized P2P platforms. Well, I'm using Binance to make P2P transaction and I didn't encounter any problem on it. It's just that, it's centralized exchange and you need to do KYC to access their exchange.

Learn more OP. Watch more educational videos, and don't stop asking here. Also, it would be better if you will just use the search button I guess because there might be some threads here already that has been made in case you have a question.

Don't you think why lots of users are talking about Bitget p2p is cos they've had a favorable experience using the feature?

Well I believe it's quite easy to criticise a cex when it hasn't been used. Lately, the P2P feature of the platform mentioned has been a trending topic of discussion on YouTube and gaining lots of traction on X due to timed listings and generous events that accompany them

[MarvieJ]

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

The thing is that when you get into crypto newly and pay attention to failed crypto traders or those that have zero knowledge without them knowing about it , they’ll mislead you tbh.. most times just make researches on your own,even if I tell you a particular exchange p2p is good still just explore yourself. Nevertheless I’ve only tried binance and bitget p2p and didn’t encounter any issues. Whereever I’ve usdt at that material time I just sell or buy ..

[MarvieJ]

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.

Exactly my thought too , most times when you navigate through these exchange platforms you get to read reviews from customers about any p2p merchant. Binance do recommend most trusted ones and advise newbies not to send out their assets unless they’ve received their values, the thing is all through my experience on using p2p I have never lost any funds either on binance or bitget

[KiaKia]

KYC mandatory platforms should not be seen as P2P platforms, because they have your data already, and you can't use their P2P service without passing their KYC verification requirement first.

This makes the whole P2P a lie to me, something that has been going on in crypto space for so long now, when the centralized entities comes, they will change every thing from privacy and decentralization into centralized way and stupid people will always welcome them.



Any centralized exchanges offering P2P services are third parties themselves, because they have secure all P2P users data by asking for KYC.

[TheVeteranAngel]

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 heard all of these exchanges at least once already, and I guess they're still operating right now. Although I'm not using any of them since I'm only using Binance, I guess these are legit exchanges, and many here are using these ones especially Bitget I guess which is the one that most Youtube influencers are promoting non-stop.

Since you are asking exchanges for you to make a P2P transaction, I guess it would be better if you will just go on decentralized P2P platforms. Well, I'm using Binance to make P2P transaction and I didn't encounter any problem on it. It's just that, it's centralized exchange and you need to do KYC to access their exchange.

Learn more OP. Watch more educational videos, and don't stop asking here. Also, it would be better if you will just use the search button I guess because there might be some threads here already that has been made in case you have a question.

Don't you think why lots of users are talking about Bitget p2p is cos they've had a favorable experience using the feature?

Well I believe it's quite easy to criticise a cex when it hasn't been used. Lately, the P2P feature of the platform mentioned has been a trending topic of discussion on YouTube and gaining lots of traction on X due to timed listings and generous events that accompany them

I have enjoyed using Bitget P2P because of how transparent it is. Have heard some complaints about getting scammed by merchants on some exchanges because they are newbies but I haven't experienced such yet on the Cex