P2P trade advise

[Baki202]

I don't know how your country operates but to my country it's very easy to trade on p2p without going much in documentation. As per our country, it's very easy because when you have the their National Identity card or any documents that proves you a citizen of the country then it's fine you can make a local bank account to trade on p2p without having to go through those rigorous stressful process.

P2P is one of the most easiest way since I started am always using p2p and I don’t think have encountered any form of problem. If you you know how to make use of your head why doing p2p because their are still scams in p2p so even if it is very easy you still Need to know how to use your head, if not you still get scammed. People also need to pay attention when they are trading p2p, people are always sharing their experiences of how they got scammed from p2p. And even the exchanges are always pasting their warning don’t release if you have not confirmed the money. Have learned from what have been hearing so I don’t need to bother much all I need is to pay attention and am good to go.

[DarkState]

I do P2P trading on Binance almost every day. But I never needed a VASP license to do P2P trading on Binance. Only the Binance account has to be verified. To verify my Binance account, I needed my phone number and national ID card and had to do face verification. P2P trading on Binance is easy and risk-free. So I suggest you do P2P trading through Binance.

[Alone055]

I do P2P trading on Binance almost every day. But I never needed a VASP license to do P2P trading on Binance. Only the Binance account has to be verified. To verify my Binance account, I needed my phone number and national ID card and had to do face verification. P2P trading on Binance is easy and risk-free. So I suggest you do P2P trading through Binance.

His problem is not the platform where he can make P2P trades, but it's about his bank that is against cryptocurrencies or P2P trading and they aren't allowing him to do that which I think is a problem in most countries these days, and not only Estonia.

If I am completely honest, P2P trading has a lot of risks these days, and those risks aren't about you getting scammed out of your crypto, but it's about getting your accounts blocked and funds confiscated either by the management of the service you are using or the authorities involved in monitoring financial transactions. A lot of transactions are marked as fraudulent transactions and if you receive such an affected transaction, your account is gone for good, as you mentioned yourself, banks and other financial institutions in most countries are against cryptocurrencies, so they won't help you or get you out of trouble if you tell them the truth, so it becomes a situation where you are completely stuck with no solutions.

The people that you see on P2P platforms making trades are playing with all these risks at all times, some of them have mastered the art and they know how they can safeguard themselves from all these problems, some know the risks and are still doing it for the profits they are getting.

[DiMarxist]

Op by now others have also told you what to do. From the topic and the text you typed, there was no need for you to contact your banks to trade cryptocurrency through p2p. And all what you needed to do was to register in the exchange and complete the KYC which was to submit the documents they would have asked and once you complete those KYC then you were ready to trade.
And if you contact your bank for crypto trading then you are exposing yourself to them to block your accounts most the government that doesn't support the use cryptocurrency in his country so please next time don't do this mistake.

[sarmrakib]

I've been trading in Binance P2P for many years now, I don't encounter such issues. I don't think if it's just in your Country, because here in my place all is well in terms of P2P trading. Binance provided an instruction how to post an ad and they provide the criteria how to become a verified merchant. And because what I'm doing is to withdraw from them, I just need to find an ad. And since your problem is about the bank you're using, try to make up with another banks because afaik there are lot of method to send the payment.

I also used both Binance and Bybit P2P platform and i never faced any problem their. As you said a clear instruction has given their and nothing gone wrong with the platform Binance and Bybit. If he/she faced any problem their may his/her own currency or transaction problem which is not related with P2P platform. So i wanna say it is really smooth for me with every P2P platform i have used.

[Sorryfor]

I do P2P trading on Binance almost every day. But I never needed a VASP license to do P2P trading on Binance. Only the Binance account has to be verified. To verify my Binance account, I needed my phone number and national ID card and had to do face verification. P2P trading on Binance is easy and risk-free. So I suggest you do P2P trading through Binance.

You can easily complete the transaction through P2P from Binance without any problem. Transactions are very easy in all directions but OP is referring here to his country's banking system. Where he is not able to withdraw money to his bank account through Binance P2P is causing problems from the bank. However, P2P transactions currently face various challenges from different banks and are not legalized in most countries, making P2P transactions difficult to get into the bank.

[el kaka22]

Even my country got strict laws on cryptocurrencies and on online money transfer things, I was able to instantly becoming a P2P trader as P2P trading is nothing but most similar to spending money to your friends or colleagues except going through an escrow; no big differences. Initially I thought you are asking help on solving a P2P dispute but later I understood that you have problems on kicking off your P2P journey. If I remember correctly that spectracoin is based on Estonia which is up and running for more than a decade. I mean I got an idea that Estonia is not strict on basic banking things but your post changes that.

I have no experiences on engaging an offshore account for the P2P trading which may work or may not. But, you need to be ready to deal with scammers and liars once you all set for P2P trading. Yes, in P2P trading, some traders may try to cheat you by not releasing your funds. I somehow managed to avoid them when I start dealing with higher reputed people like with more number of trade history and with higher successful trade percentage.

[Huppercase]

P2P is one of the most easiest way since I started am always using p2p and I don’t think have encountered any form of problem. If you you know how to make use of your head why doing p2p because their are still scams in p2p so even if it is very easy you still Need to know how to use your head, if not you still get scammed. People also need to pay attention when they are trading p2p, people are always sharing their experiences of how they got scammed from p2p. And even the exchanges are always pasting their warning don’t release if you have not confirmed the money. Have learned from what have been hearing so I don’t need to bother much all I need is to pay attention and am good to go.

Any trade that happen between two people can be consider as p2p but then centralized exchanges made it look like we have just one single p2p where coins(mostly usdt) are been converted to fiats. Before centralized p2p started, there has been existence of p2p even in this forum where escrow is been used to settle trade between two traders, the escrow release coins when the term and conditions of the two traders are been mate but the exposure and scans were high then and the centralized exchanges became the new trend.

Since I have been using p2p on Binance and Kucoin, I haven't been scam it victim of any scammers because I make sure I follow due process and don't release coin to any trader until I make sure that my wallet has been credited. Even if the buyer told me he has sent the money as he claim, I wouldn't release the coin until everything is complete as agreed. I don't like centralized exchanges but the p2p has been the most satisfying features I enjoyed. I wish people can emulate decentralized p2p to with much liquidity.

[beerlover]

I do P2P trading on Binance almost every day. But I never needed a VASP license to do P2P trading on Binance. Only the Binance account has to be verified. To verify my Binance account, I needed my phone number and national ID card and had to do face verification. P2P trading on Binance is easy and risk-free. So I suggest you do P2P trading through Binance.

I don't know what VASP license mean but that sounds very formal and I think the ones who need it are those P2P traders that are dealing with large amount of money/cryptos. Each of us might have a national ID card already since it is mandatory and it was only easy to obtain, I think? And then we also have our phones because we use it mainly for communicating and it won't be completed if without a sim card. This is where we can have our phone numbers.

These documents are what we usually use when it comes to verifications but other options are there too like passport, visa, drivers license, etc... for those who prefer them and these maybe needed on advanced levels of verifications. P2P trading can be tricky at first for the beginners and I won't say it is risk-free, I mean because cryptos are volatile.