Try dey observe before you sell your coins.

[rachael9385]

This nah the rate from the vendor ADS.

This nah the real rate wey the vendor dey pay.

_{WELL, ALL THIS THINGS NAH FOR THEM TO USE AM ATTRACT MORE PEOPLE.}
Then this nah the legit vendor rate.



Good day my good people of Nigeria inside this forum. E get one pattern wey some vendors for inside KUCOIN exchange take dey rip pipo off their money through their p2p rate.
Some days back I try to exchange small of my coins so that make I use the fiat take package some one or two. So when I done set the price wey I won sell and the payment method I want, all the vendors wey dey accept that figure con show, then I click the one I want because the rate dey okay with me from em ADS, so finally finally I click on am and the rate wey make me click am dey very different from the one wey dey for em page.
I see almost 3 of them but I decide to post only one so that the pictures no go too plenty. Just try to look the vendor name and the rate em put for em ads and the rate wey em dey pay dey different.
The worst part be say, dollar no dey below 1300 naira but the vendor dey pay 1120 naira.
Just look the pictures well so that you go fit relate to watin I dey talk about.
Some of this vendors dey make exchanges dey collapse because e get some top men wey dey deal on crypto currency and if them fall for this kind of things, nah straight to report the exchange say them dey use am dey fraud pipo.
Some pipo no dey observe all these things when them won exchange their coins to fiat and e dey very bad because you go hustle put coins for exchange and one jobless vendor from the exchange go just rip you off. So make we try observe well before we proceed any further transaction.

[EluguHcman]

Thanks for sharing. Please make let the picture be understandable because I almost got lost
So the picture made a clear view of two different P2P vendors who are Hot_Deal and  Yakxharoon and it is unfortunate for HOT_DEAL that he does not have reputability. So he is not running a transparent service which is believed that there are other like that.
Meanwhile.... Yakxharoon is a different is different dealer who running his services legitimately transparent.
Thanks for sharing this observation Op.

I think it is high time these exchange sites should consider reputations of their services with investors as a priority else they would crash as well as the disreputable vendors would.
Bitcoin has been a technical and sensitive financial technology so every legitimate dealers desires to transact with reputable platforms that can offer transparent and unbiased services amongst everyone.

I know that prices do fluctuates on the P2P exchanges so I may give such as the Hot_Deal some benefits of doubts of not being mean to what this picture has just described about else such a dealer is not worth dealing with because you can not attract investors and dealers to transactions with tou on such dubiousness..

Other strange and unrealized tendencies of other vendors to cheat and defraud Investors maybe on live but has not been dragged of attentions to observe it.

I was disappointed of the lying vendor Hot_Deal because that was a verified holder who was expected to offer transparent and legit services which we just have to keep the exchange rate differences aside.

Exchange has a blockchain I am hard to believe that the developers and the site technicians would claim not to be aware of this. Maybe they also have commission's from every illegal extortions. I am bashing that hard of the exchanges because bitcoin holders prioritizes their believes in them before considering the vendors so the inability of the exchanges platforms to fix the unconvincing acts of the vendors in collaborations with them will always bring them images of remarked failures.

[CryptoHeadlineNews]

This nah the rate from the vendor ADS.

This nah the real rate wey the vendor dey pay.

_{WELL, ALL THIS THINGS NAH FOR THEM TO USE AM ATTRACT MORE PEOPLE.}

But how is it possible that the price rate on ads is different from how much the vendor is willing to pay? Because who knows if that's not the exact strategy this user was using to accumulate this much USDT as shown is account above (i.e 197,801 USDT), by placing his ads with the highest price and then paying below .

[Su-asa]

Woah, am very very surprised because I haven't heard of this before, this is my first time to hear or see such things, if not for this post I wouldn't have thought such things exist on exchange. @rachael9385, you did absolutely well to bring this to our notice. Anyway I was a little bit confused while reading this post but the pictures made me to understand the whole things you are saying, Hot_deal is the bad guy here, so we should take caution, especially those that uses kucoin sell coin. But is that even possible? The kucoin company should take note of this because I know truly well that it's not only this guy that's dealing on such a tricky ways to attract dealers to them.
I know of one vendor from binance and the guy is very interested on people that wants to sell big coins, so after everything the guy will want to negotiate with and if you agree to him, he will take some part of your money (depending on the type of negotiation). Thanks for telling us about this.

[Sir_Garry55]

Big man thank you very much for pointing this out and this na the reason why dem say make person dey careful well well before making any transaction on exchange especially when e get to do with P2P transaction and another thing again wey fit cause say person no go dey observant of such thing na say the person dey in a hurry to trade the coins because so many people dey make that mistake.

Imagine how this vendor dem put specific price but the original trading price dey different, omo this is just unethical and maybe all this sef fit spoil the image of the CEX as one wey scammers full because e no just make sense at all.

[knowngunman]

But how is it possible that the price rate on ads is different from how much the vendor is willing to pay? Because who knows if that's not the exact strategy this user was using to accumulate this much USDT as shown is account above (i.e 197,801 USDT), by placing his ads with the highest price and then paying below .

E dey very possible boss. I don experience countless times on kucoin exchange with different vendors. They normally have the higher rates on the P2P homepage but have the lowest rate when you enter their dashboard. Although, I no sure say anyone go dey fall for this trick again because kucoin are trying their best to notify the users when there is change of price. The moment you click on sell, kucoin will inform you that the ads price has changed and you should confirm before proceeding. That's when you will notice that the vendor manipulate the price and looking for people to ripped off their hard earned money.

This vendors are well aware that most people like awoof and they will be intimidated by such higher prices. Sadly, majority of us fall for it by clicking on their ads in the first place but not completely fall victim. I know a lot of us would have fall for it without that notice from kucoin.

Here are some preventive measures to avoid those scammers.
firstly, take a look at their transactions rate. These people normally have low transaction completed rate with a few percentage. Always go for vendors with high volume of transactions and greater percentage.
Secondly, do your manual calculations and after clicking the ads, compare the price and see if it tally with your calculation.
And finally, make we dey apply caution whenever trading and P2P to avoid falling for things like this because the exchange team might not be able to help you out. Don't trade when you are in haste to make sure you pay attention to every steps involved.

[sokani]

No be di first time I don hear about dis kind trick wey vendors dey take rip off sellers, and no be only Kucoin e dey happen, even for Binance e bin dey happen. I want believe say no be only Nigerian vendors dey do dis kind of thing, oda vendors for oda countries go dey do same. Di crypto space na shine your eye, anytime you want trade, make you open your eyes well well, look di ads and confirm di selling price so dat you no go enter one chance. Also, CEXs suppose make am in such a way for sellers to dey report vendors when something like dis is discovered to discourage dem from doing dis kind bad practice.

[rachael9385]

It's always good to point out the faults that are involved in anything we use almost every time. Exchanges have been the most used things people use in our country. Why I believe so nah because of say many of scammers nah exchange them dey use, so nah only few people nai they use wallet for this country. Infact, nah mostly scammers nai dey use am pass. And nah exchange scammers take they scam people pass.
For me, I suggest make KUCOIN exchange fine every possible means to block any ADS we no dey follow their rules. Unless say them support those fraudulent activities from p2p vendors.

This nah the rate from the vendor ADS.

This nah the real rate wey the vendor dey pay.

_{WELL, ALL THIS THINGS NAH FOR THEM TO USE AM ATTRACT MORE PEOPLE.}

But how is it possible that the price rate on ads is different from how much the vendor is willing to pay? Because who knows if that's not the exact strategy this user was using to accumulate this much USDT as shown is account above (i.e 197,801 USDT), by placing his ads with the highest price and then paying below .

Oga, e dey very over possible because nah internet we all dey use, if person go fit scam someone face to face them watin he internet wey fraudster no go fit scam anybody wey fall mugu for them?
I no dey sure say the amount wey HOT_DEAL guy put for em dashboard mai be the exact rate wey em supposed to put, if not em for put am for em ADS. Anyway make we try dey very careful when we won sell coins.

Woah, am very very surprised because I haven't heard of this before, this is my first time to hear or see such things, if not for this post I wouldn't have thought such things exist on exchange. @rachael9385, you did absolutely well to bring this to our notice. Anyway I was a little bit confused while reading this post but the pictures made me to understand the whole things you are saying, Hot_deal is the bad guy here, so we should take caution, especially those that uses kucoin sell coin. But is that even possible? The kucoin company should take note of this because I know truly well that it's not only this guy that's dealing on such a tricky ways to attract dealers to them.
I know of one vendor from binance and the guy is very interested on people that wants to sell big coins, so after everything the guy will want to negotiate with and if you agree to him, he will take some part of your money (depending on the type of negotiation). Thanks for telling us about this.

Thank God say I done bring am to una notice, as e go dey bad say I see this kind of things and I no share am with my pipo so that them go dey aware, so that them go be careful and observant if them won exchange their coins to fiat through p2p from and exchange.
Me self done already hear am too, but I no too dey sure because na person tell me sha.

Big man thank you very much for pointing this out and this na the reason why dem say make person dey careful well well before making any transaction on exchange especially when e get to do with P2P transaction and another thing again wey fit cause say person no go dey observant of such thing na say the person dey in a hurry to trade the coins because so many people dey make that mistake.

Imagine how this vendor dem put specific price but the original trading price dey different, omo this is just unethical and maybe all this sef fit spoil the image of the CEX as one wey scammers full because e no just make sense at all.

You are welcome mate, normally person wey dey deal on crypto currency things supposed to dey very observant because crypto currency nah one of the easiest way to scam person wey know sabi anything for crypto (crypto newbie). And nah still hard place to scam anybody wey know watin em dey do for crypto. Nai make anybody wey won grow for Bitcoin go get knowledge first before em start to dey deal with anything transactions.

Boss thank you say you sef already know watin I dey talk about, this nah some minor things wey many people dey fall for because them no dey observe well before them they process transaction. Moreover many people nah because say every time them dey in a haste to trade coins. But I done believe say this one nah example for everyone out there for inside the crypto space.

No be di first time I don hear about dis kind trick wey vendors dey take rip off sellers, and no be only Kucoin e dey happen, even for Binance e bin dey happen. I want believe say no be only Nigerian vendors dey do dis kind of thing, oda vendors for oda countries go dey do same. Di crypto space na shine your eye, anytime you want trade, make you open your eyes well well, look di ads and confirm di selling price so dat you no go enter one chance. Also, CEXs suppose make am in such a way for sellers to dey report vendors when something like dis is discovered to discourage dem from doing dis kind bad practice.

Thank God you self dey aware, make we try dey stay away from those kind of vendors because them dey rip pipo money. Just imagine say person just invest for Bitcoin with 100k and nah for the first time, then em ko get any interest again because Bitcoin drop and em sell em coins to this kind of vendors, watin we think say go happen? Them person go vex and the person to also dey speak bad about Bitcoin.

[Mr.suevie]

These display of contradicting price sefe I think say na ku pin na really dey allow am because of dem serious and put on sanctions for all those vendors wey dey always alter their price because e no actually make sense and maybe this na one of the reasons why the CBN sef dey blame binance for the alterations of price value but me I no say dat one na just nonsense talk sha because the price fluctuation na dem fully involved.

[Odohu]

Omo this na correct update you share like this o. Although I never get this kind experience where merchant put another price wey be say na another price him wan buy, I no wan experience am sha. No be for this 9ja when dey bend bend wey person go lose this kind hard currency... na to just drink sniper.

This time na to double or triple check everything before one go trade to avoid stories that touches the heart. Na this kind sharp practices make one merchant collect restriction of his account with N22 million Naira inside. E no good to dey too greedy for this life.

[Richbased]

But how is it possible that the price rate on ads is different from how much the vendor is willing to pay? Because who knows if that's not the exact strategy this user was using to accumulate this much USDT as shown is account above (i.e 197,801 USDT), by placing his ads with the highest price and then paying below .

Na something wey dey happen steady for that exchange wey OP mention o,  me self e get the time wey i for don fall victim because me I be the kind person wey be say wen I dey run transactions online I dey like dey very fast due to network issues sometimes and base on say I been dey use binance to exchange my USDT with fiat and anytime I dey run am the transaction dey set immediately without wasting time.

So for this kucoin in particular some p2p merchants more especially those at the top go set exchange rate finish but as soon as you want initiate the transaction na so the price ads go change and if you know look well you go just fall victim and base on my observations I see say people dey fall for them well well on a regular but I don't know why kucoin no dey observe dis kind scam so dat dem go remove dos fraudulent merchants Dem comot so dat there exchange go dey reliable for people to use.

Honestly, as I begin use exchanges eh no exchange wey sweet me reach binance like everything dey gazette majorly without hesitation and the chances of scamming people for there no too dey rampant but since our government don ban Binance naim lead to dis challenges we dey face for other exchanges like this but anyhow wey e be make every body just dey careful Dem make sure say you cross-check your transaction well before initiating. Even when the merchant Dem send you money confirm am wella first before you release your crypto. At least we don grow pass where we go dey fall victim to online scam anyhow.

[Sim_card]

Woah, am very very surprised because I haven't heard of this before, this is my first time to hear or see such things, if not for this post I wouldn't have thought such things exist on exchange. @rachael9385, you did absolutely well to bring this to our notice. Anyway I was a little bit confused while reading this post but the pictures made me to understand the whole things you are saying, Hot_deal is the bad guy here, so we should take caution, especially those that uses kucoin sell coin. But is that even possible? The kucoin company should take note of this because I know truly well that it's not only this guy that's dealing on such a tricky ways to attract dealers to them.
I know of one vendor from binance and the guy is very interested on people that wants to sell big coins, so after everything the guy will want to negotiate with and if you agree to him, he will take some part of your money (depending on the type of negotiation). Thanks for telling us about this.

Those p2p vendors are always seen on top of the p2p traders list, because they increase their price higher than the rest just to decieve people who want to use their services. Kucoin is the worst because you cannot cancel the trade, but if it is on Binance, when you notice the change in price differ from what was on the merchant price, it is better to cancel the transaction and use a trusted p2p merchant with a real price with that of what he will buy from you. Always check the exchange rate and the price of what the merchant accepts to pay you before placing an order to avoid story that touches. I have seen it several times, but I haven't fallen for them, because each time I click on the merchant with highest price, they always cancel my order immediately.

[Princess Leah]

 A lot of complains have been coming up lately about Kucoin, from poor customer service to scam vendors and this is one thing the company needs to look into, else they'll end up losing their reputation. Situations like this makes people miss Binance a lot, their P2P was very transparent, easy to understand and trade swiftly with good vendors, not to talk about the good customer care they had.

 When the government placed a ban on Binance P2P many of it's customer seeked different alternatives and Kucoin is one of the exchanges that benefitted from it, cause I know most of my friends switched to using that exchange for selling their coins but then with the rate at which their vendors are beginning to act strange I feel they'll lose lots of customer cause my dear many people are complaining about this same situation.

 And for a vendor that's verified, I didn't expect that from such person, thats the kind of person who ruins the reputations of most of these exchanges, it's not like Kucoin is a bad exchange but most vendors there are not very transparent. Anyways thanks dear, for bringing this to the notice of the forum members especially those who use Kucoin so they'll take precautions and also avoid trading with that vendor.

[CryptopreneurBrainboss]

Good day my good people of Nigeria inside this forum. E get one pattern wey some vendors for inside KUCOIN exchange take dey rip pipo off their money through their p2p rate.

To begin with, reduce the size of your images, most of us here no dey use laptop but na phone we dey and use and this big images wey you dey use they spoil the whole reading process. I dun see this thread before but ignore am because of the big images. We have zooming on our phone so we fit zoom even though the images dey like avatar for here and with a smaller image you fit arrange your thread well to dey more understanding.

I also doubt this is happening on kucoin because from my experience on centralized P2P exchange, rate wey you put na rate wey seller/buyer go transact with you. You no fit put a different rate and dey expect them to use another rate unless you chat them up which I strongly advise against accepting. Maybe e go be say this people get two different rate ads on the exchange and any one wey you like you go for.

Note: Merchant can have different rate for the same coin wey dem wan sell, some dey do am to increase their deals or reputation because when you trade high rate and you no get scammed, you can normally drop rating than when you trade normal rate. Check again because you can't click on rate A and get rate B, you can only get rate B when you click on that rate. Wetin you go talk na say make we dey watchful because all this merchants dem get plenty rate ads and make we no confused rate A with rate B.

Some of this vendors dey make exchanges dey collapse because e get some top men wey dey deal on crypto currency and if them fall for this kind of things, nah straight to report the exchange say them dey use am dey fraud pipo.

As a centralized exchanges, if you allow vendors scam majorly on your exchange you dun fuck up because normally you supposed get KYC wey go make you know who and who dey trade for your platform and to dey steadily block any merchant wey dem report to be scam and assist in recovering the stolen funds as merchant dey already deposit coins on the exchange and kept in escrow.

[Belarge]

The price value of every coins purchased remained on the blockchain, ofcourse we don't have any significant pushing power to eliminate or control the market, we are just here to make sure things go according to our plans. Anyhow things be, Las las we go de alright when e concern the market. Make we just find way hits on good runs and become one of the profitable traders and investors for the system. I know say no be today work but make we just de deliver every sector of our work de go small small. But regarding the matter wey concern the delist of NGN currency on the world top crypto exchange, Binance, that particular matter long wella.