If Centralized Exchanges No Dey, How We want Take Survive for Dis Scammers World

[Mate2237]

In the law of centralized exchanges, it is the duty of the buyer to pay first before the seller release the coins and that has been a warning to us everytime. And now that can also practice I'm the real trading time. And scammers are looking for whom to Scam at all time. And someone contact you and offer to sell coins in a good price and you agree to the deal. And one person must first send. And you are to send the funds first before the seller release the coins and finally you release the coins and the person off is line and run with your coins because since you people didn't use exchange there would be no frozen of coins and you people wer dealing om manually.

So in this kind of situation what will you do. Will you accept to sell or you leave the trade for the fear that you would lost your coins? And now if Nigerian government stop and block all the exchanges in the country, what will be the solution to the issue?

[1714943775]

1714943775

[SmartGold01]

What I believe is that even though Nigerian government stops all exchange working we that are active here in this forum can form our P2P group or create a thread where we can be doing our trade especially Brainboss also run a p2p service we can patronize him and, we can grow more faster.
For about you trading your coin with unknown people, well I would suggest you don't use any person other than reputable people in this our local board I believe the drop of dollars against Naira is pretty much good time for buying order to be very higher than selling order's so, if you wanna sell currently there could be much people wanting to buy since dollars has already decreased by 35.5 percent from it's previous price.

[Churchillvv]

With your rank as a hero member of the forum, I'm not expecting you to ask such questions in any kind of situations. Perhaps you should be well knowledgeable with all this things by now but the fact is no body is above learning so I will do the stress to still inform you that DECENTRALISED EXCHANGE would have been the way to out.

Before the existence of centralised exchange DEX where the full time option of every one, perhaps after some time centralised exchanges gain popularity over DEX because of it's flaws of not being able to handle some certain level of trade volume. I believe peer-to-peer trading first stated with decentralised exchange before it got to CEXs.

Hence in such a situation where scam is likely to take place one will only have to deal with certain calibers of people who are more reputable than others in order not to get scammed.

[Mate2237]

What I believe is that even though Nigerian government stops all exchange working we that are active here in this forum can form our P2P group or create a thread where we can be doing our trade especially Brainboss also run a p2p service we can patronize him and, we can grow more faster.
For about you trading your coin with unknown people, well I would suggest you don't use any person other than reputable people in this our local board I believe the drop of dollars against Naira is pretty much good time for buying order to be very higher than selling order's so, if you wanna sell currently there could be much people wanting to buy since dollars has already decreased by 35.5 percent from it's previous price.

Yes that is a good idea. Because we that are here have small and maximum trust among ourselves because as for me i am afraid of the scammers in the outside forum who will use that opportunity to do and undo people. But if you are trading with unknown person, how will know that the person is a reputable one? Like this thread https://bitcointalk.org/index.php?topic=5490040.0 I f Obari was not a Smart guy, that scammer would have use Obari head. So those are the fear of the unknown. But creating our Centralized Exchange here to trade with our p2p is the best thing to do to avoid untold story of the gods.

Omen really dollar is coming down oh. And I am at the losing side of my Ethereum investment because I bought it when dollar was big and more that dollar is decreasing. My investment too is decreasing. Ethereum that I bought with 100k now is 50k. Omen e no favour me t all buy I go keep till Ethereum go hit $20k

[DaNNy001]

Well I haven't thought of this happening because I know say e no fit even dey possible for them to stop the whole CEX available in the crypto space and moreover even if they do stop it, I think the option of using DEX is still there although I haven't used one before and also the idea of trading the coin here with a reputable member like smartgold suggested is also a welcome idea because atleast you know the person has the reputation and guarantee assurance.

[Cryptoprincess101]

Honestly, centralized exchanges really helped us a lot because had it not been that it was programmed in a way that the buyer would send first before the crypto is released, I am afraid of the kind of scam and fraud that the system would have gotten but even though scammers are still using different tricks to manipulate people in the p2p platforms because imagine where a p2p merchant will position a high exchange rate only for it to decrease when you are about to initiate the transaction and if you don't watch very well you will not know and there are also some merchants that always wants to cause some drama before they can complete a trade with you but we should just be careful not to meet the bad eggs amongst them.

Though the area that frightened me most is when you want to buy crypto and you know you will be the one to send fiat first before crypto is released to you, so you can send fiat to a seller and they refuse to release the crypto to you unless if the exchange have gone through checks before they can release the crypto and the process is very heltic. So in all we just need extra carefulness.

[Mate2237]

With your rank as a hero member of the forum, I'm not expecting you to ask such questions in any kind of situations. Perhaps you should be well knowledgeable with all this things by now but the fact is no body is above learning so I will do the stress to still inform you that DECENTRALISED EXCHANGE would have been the way to out.

You see that first comment, him sef na Hero Member, and he knows weti be DEX. And when we dey tok about cryptocurrency, personally me I no dey even think of DEX. Hey!! Have you used any DEX and experienced their services? I know u no be newbie and I will not say u no know. But as for me I am not interested to use dex but if you want to I will tell you to use https://www.alchemy.com/best/decentralized-exchanges-dexs, https://coinmarketcap.com/rankings/exchanges/dex/, and finally the list from this forum https://bitcointalk.org/index.php?topic=2906237.0 and if I need am I go use am buy not interested to use them. So you can practice to use them from now so that when it happens you will be at the saver side. If I want to use am no be you go tell me if I am an Hero Member or not.

We have discussed dex time without number. The first comment suggestion is far better than the DEX. So don't rush to insult your elders in rank. They know what they dem dey do. Though nobody is perfect. And please don't carry dex matter to me because I don't like them.

[Obari]

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Yes that is a good idea. Because we that are here have small and maximum trust among ourselves because as for me i am afraid of the scammers in the outside forum who will use that opportunity to do and undo people. But if you are trading with unknown person, how will know that the person is a reputable one? Like this thread https://bitcointalk.org/index.php?topic=5490040.0 I f Obari was not a Smart guy, that scammer would have use Obari head. So those are the fear of the unknown. But creating our Centralized Exchange here to trade with our p2p is the best thing to do to avoid untold story of the gods.

Omen really dollar is coming down oh. And I am at the losing side of my Ethereum investment because I bought it when dollar was big and more that dollar is decreasing. My investment too is decreasing. Ethereum that I bought with 100k now is 50k. Omen e no favour me t all buy I go keep till Ethereum go hit $20k

I Dey feel your pains and you actually no buy at the right time and I go advice make you swap to stable coin and buy low, because as the money and ethereum Dey go down, na so your investment Dey drop and make you no go Dey liquidated because I believe you no go like am at all.

Secondly I also Dey run small exchange and e no go bad make una pm me anytime una need to sell as I go Dey available just incase our oga no Dey available to trade and below na link to my profile  https://bitcointalk.org/index.php?action=profile;u=3504269.

There are several ways we can detect scammers and scam transactions and I go try list some few below
. High pressure to confirm transactions
. Pressure wanting you to send fiat
. Always patient to trade whenever vendor is available
. Not bargaining and always accepting every rate given.

These are the few I fit mention based in personal observations and experiences, so I go advise make everyone Dey careful and watchful as these guys(scammers) no Dey ever relent .

[Charles-Tim]

So in this kind of situation what will you do. Will you accept to sell or you leave the trade for the fear that you would lost your coins? And now if Nigerian government stop and block all the exchanges in the country, what will be the solution to the issue?

On decentralized exchanges, dispute are also considered valued and the solution is what that would be looked for. It can get to the point that buyer or the seller can be told to provide proof of payment or your bank statement of account. Scam on decentralized exchanges can be avoided as you can also avoid scam on centralized exchanges.

[CryptopreneurBrainboss]

In the law of centralized exchanges, it is the duty of the buyer to pay first before the seller release the coins and that has been a warning to us everytime. And now that can also practice I'm the real trading time.

It's also the law of decentralized trading (P2P) no send coin if you never receive money (when you dey sell) or no send money if you never receive coin (when you they buy). Scammers dey everywhere na for we to get sense and use our brain well make person no go chop your hard earn money. With or without centralized exchanges we for dey alright. Me I dey even reason say na centralized P2P exchange na wetin make our Decentralization P2P exchange never strong well if not people for dun dey used to the real P2P system and master am well. When buyer contact you to send coin first just block number and avoid them. Better still you fit dey trade with a trusted merchant for your area but you go use your sense and nor dey trade with only one merchant for you to avoid see finish make person no go set you up unto say you get plenty funds.

And now if Nigerian government stop and block all the exchanges in the country, what will be the solution to the issue?

Decentralized P2P and also local centralization P2P go come back like those WhatsApps and Telegram P2P system wey been dey reign those days wey dem go add you to group with the admin standing as an escrow for una to run transaction and no forget say Nigerians dey always find way to solve problems wey dem get. Dem no go fit ban everything cryptocurrency trading and even when they ban all things relating to cryptocurrency, sites disguise as something else but doing crypto trading will launched (no joke oh abi you dey forget the country wey you dey)?

[sokani]

So in this kind of situation what will you do. Will you accept to sell or you leave the trade for the fear that you would lost your coins? And now if Nigerian government stop and block all the exchanges in the country, what will be the solution to the issue?

First, no matter wetin Nigerian government do, e no go get to the point wia be say we no go fit use exchange to trade our coins. It is just that many people don fall in love with Binance but I believe say when one door close another one go open, but in this case, the doors plenty wey dey open. Also, if e come to the point say our government ban cryptocurrency, and blacklist the urls of crypto exchanges, na to use VPN to bypass the restriction and dey take run di matter.

[Mate2237]

In the law of centralized exchanges, it is the duty of the buyer to pay first before the seller release the coins and that has been a warning to us everytime. And now that can also practice I'm the real trading time.

It's also the law of decentralized trading (P2P) no send coin if you never receive money (when you dey sell) or no send money if you never receive coin (when you they buy). Scammers dey everywhere na for we to get sense and use our brain well make person no go chop your hard earn money. With or without centralized exchanges we for dey alright. Me I dey even reason say na centralized P2P exchange na wetin make our Decentralization P2P exchange never strong well if not people for dun dey used to the real P2P system and master am well. When buyer contact you to send coin first just block number and avoid them. Better still you fit dey trade with a trusted merchant for your area but you go use your sense and nor dey trade with only one merchant for you to avoid see finish make person no go set you up unto say you get plenty funds.

And now if Nigerian government stop and block all the exchanges in the country, what will be the solution to the issue?

Decentralized P2P and also local centralization P2P go come back like those WhatsApps and Telegram P2P system wey been dey reign those days wey dem go add you to group with the admin standing as an escrow for una to run transaction and no forget say Nigerians dey always find way to solve problems wey dem get. Dem no go fit ban everything cryptocurrency trading and even when they ban all things relating to cryptocurrency, sites disguise as something else but doing crypto trading will launched (no joke oh abi you dey forget the country wey you dey)?

Omen you don give me morals. I really enjoyed your comment. And I no get enough smerit because like kind contributions I dey like and him worth 10 to 20 merits straight. Omen naija we go nothing spoiled even Binance and him co companies leave, we go still survive. But one thing we I no like decentralized exchanges because their prices e no dey encouraging because if we dey sell 0.003 as NGN3m centralized exchanges den the decentralized exchanges go fit sell am NGN2+m and dat one dey discouraged many people. Make we dey see how dis drama go be. Then another thing we dey now na di price dollar and naira. We dey loss weight this days.