What's your worse p2p experience?

[Hewlet]

I have read about how some traders on some p2p platforms can be dubious and didn't know how serious it can get untill I had a first half experience with one.

I carried out a p2p transaction with a user who was known for his false claim to have sent out fiat when he hasn't done so. I was careless not to have gone through reviews on his past trades with people which would have helped me overcome the potential risk of lossing my asset to him.

I initiated a transaction with him, he sent a false receipt that he has sent the money while I'm yet to to see the alert and asked that I release my coin from my end. I waited to see the alert but didn't till the time elaps for the completion of the transaction. Dude later agreed that his money was reversed but yet refused canceling the transaction. Frustrated me for almost four days before customer service stepped in after I made up to two appeals and cancelled the transaction from thier end.

It was a traumatizing experience I would have avoided had it been I went through the negative reviews of the user. I have learned my lesson on the importance of going through the user review and checking how trustworthy the person his before initiating any transaction

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

[FortuneFollower]

On OKX at least - without your acceptance that you already got the funds from the one awaiting crypto from you - he won't be able to get them. You first can ask him all you want, to send a document from the bank or the app, depending on what you want specifically, only then, after you get the funds alongside the document of the operation, you accept the fact you got the funds first and you now need to transfer your crypto to a person.
(not shilling OKX, I just did p2p there sometimes )

[summonerrk]

I have read about how some traders on some p2p platforms can be dubious and didn't know how serious it can get untill I had a first half experience with one.

I carried out a p2p transaction with a user who was known for his false claim to have sent out fiat when he hasn't done so. I was careless not to have gone through reviews on his past trades with people which would have helped me overcome the potential risk of lossing my asset to him.

I initiated a transaction with him, he sent a false receipt that he has sent the money while I'm yet to to see the alert and asked that I release my coin from my end. I waited to see the alert but didn't till the time elaps for the completion of the transaction. Dude later agreed that his money was reversed but yet refused canceling the transaction. Frustrated me for almost four days before customer service stepped in after I made up to two appeals and cancelled the transaction from thier end.

It was a traumatizing experience I would have avoided had it been I went through the negative reviews of the user. I have learned my lesson on the importance of going through the user review and checking how trustworthy the person his before initiating any transaction

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

I have already made many p2p transactions and overall the experience is positive. Thanks to the exchanges and their mediation, I am always calm that the transaction will go well.
However, sometimes I came across strange guys who ignored the information I provided about the card and wrote "send me your phone number". I did not quarrel with one because he was persistent and I refused the transaction. I terminated it. I thought this strange guy would ruin my rating, but this did not happen.

[SquirrelJulietGarden]

I initiated a transaction with him, he sent a false receipt that he has sent the money while I'm yet to to see the alert and asked that I release my coin from my end. I waited to see the alert but didn't till the time elaps for the completion of the transaction. Dude later agreed that his money was reversed but yet refused canceling the transaction. Frustrated me for almost four days before customer service stepped in after I made up to two appeals and cancelled the transaction from thier end.

In Peer to Peer trading, only Release your coin after you receive the payment. If you release it, the trade is completed and coin is released to your trade partner. It happened means you must assume you lose your coins already.

You can start a ticket and ask staffs of that P2P platform, to investigate the trade, and ban the trade partner, but the point is if he already withdrawn that money, you have no way to get your coin back. Staffs of the P2P platform has no way to refund you, only can ban that trade partner's account.

Carelessly release coin is most common mistake in P2P trading. Scammers always try to force their trade partners to be hurry as it increases chance of making mistake. They only wait for your mistake to steal your coins.

[Roseline492]

From the story I may not conclude that the guy is dubious because something based on network problem or internal issues between the senders bank and the recipient could be responsible because if his intentions was dubious he wouldn't have even informed you that the money was reversed back to him instead he would have been insisting you release the assets to him, however I had almost the same encounter as you on p2p because the person claim to have sent me the funds when I have not receive the money and when I charted him up he showed me the receipt but I wasn't convinced, so he send me the transaction ID to contact my bank and when I did they told me to wait for few workers hours and before the next day I was credited so I have to release the assets for him, so actually if I hadn't done that I would have been thinking that the buyer was dubious when he was not, though yours could be different but I'm only saying based on my experience there.

[Pandorak]

I have read about how some traders on some p2p platforms can be dubious and didn't know how serious it can get untill I had a first half experience with one.

I carried out a p2p transaction with a user who was known for his false claim to have sent out fiat when he hasn't done so. I was careless not to have gone through reviews on his past trades with people which would have helped me overcome the potential risk of lossing my asset to him.

I initiated a transaction with him, he sent a false receipt that he has sent the money while I'm yet to to see the alert and asked that I release my coin from my end. I waited to see the alert but didn't till the time elaps for the completion of the transaction. Dude later agreed that his money was reversed but yet refused canceling the transaction. Frustrated me for almost four days before customer service stepped in after I made up to two appeals and cancelled the transaction from thier end.

It was a traumatizing experience I would have avoided had it been I went through the negative reviews of the user. I have learned my lesson on the importance of going through the user review and checking how trustworthy the person his before initiating any transaction

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

My personal experience around p2p has never had any problems at all, just a suggestion:

1. Make sure the p2p is on TOP cmc exchanges such as Binance, Bybit, etc.
2. Pay attention to the time, if the time is almost up and he is not active, find another one
3. If selling, check first if the money has come in, if so, release it
4. Pay attention to transaction review
5. Stay until the transaction is complete, if you have a problem, contact the support team directly.

[TravelMug]

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

Yeah, this is the scam attempt by the other party,

First they will give you a good price, higher than average exchange rate and so you will be attracted and will choose to sell them your crypto. Next, they will say to wait and then say that they have send it to you and request to released. But here's the catch, that is the trap, they might send you fake screenshot so you better be careful and open your wallet and see if the money really deposit or not.

If not then don't released it, don't be pressured by them or it worst case, don't be afraid to have this mediated by the exchange themselves and see who is telling the truth. I have that kind of experience like 2 years ago. Good thing I have this presence of mind to not fall for the scam.

[Stepstowealth]

I have read about how some traders on some p2p platforms can be dubious ...

My worst experience is having the person who intends to buy my crypto for cash start begging to pay less of the value of what is written on the p2p platform.  like why? Imagine the value of what I want to trade is 50 USD for example, and the buyer is pleading to pay 45 USD, shorting me by 5USD. I have met a few of this kind and have often threatened them with reporting their accounts because it is a shameful thing to the exchange that they have people like that ruining their name.

[Faisal2202]

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

I think chances of such cases are less on tier 1 exchanges as I mostly use Binance p2p and before any trade, I only check the number of trades and their success rate and yeah the rates too hehe as that matters most and then I make the trade but after learning few things from the forum that we must read their policy from that point to now I am reading the policy too as sometimes they can ask for your personal number etc. or bank account number just because they have read it in their policy as necassory.

Although never found any buyer or seller with such policy in my zone till now. I never had this experienece but sometimes they send less money like not much less but like few cents less i.e 0.3$ etc. they say the finance app they used deducted the fee I had this experience two times the first was smoothly solves as the buyer sent the money ASAP when I said I won't release until he send my 0.5$ left.

The second was very stubborn he was playing smart with me, said I used a third person to send you funds, and I am no longer with him, I left and now he is away, he actually introduced me the third person as a shopkeeper well I said go again and make the remaining payment, it was not big like it was also 0.3 to 0.5$ and he said I will cover this payment in the next trade haha, like I would make another p2p with him again.

Well, he sent me my money back after like 20 to 30 minutes. Besides these small issues, I never had any problem. BTW is this thread suitable for this section?

[Stablexcoin]

From the story I may not conclude that the guy is dubious because something based on network problem or internal issues between the senders bank and the recipient could be responsible because if his intentions was dubious he wouldn't have even informed you that the money was reversed back to him instead he would have been insisting you release the assets to him, however I had almost the same encounter as you on p2p because the person claim to have sent me the funds when I have not receive the money and when I charted him up he showed me the receipt but I wasn't convinced, so he send me the transaction ID to contact my bank and when I did they told me to wait for few workers hours and before the next day I was credited so I have to release the assets for him, so actually if I hadn't done that I would have been thinking that the buyer was dubious when he was not, though yours could be different but I'm only saying based on my experience there.

It is very clear that the transaction was delayed by the sender. He might have sent the money and perhaps the account cannot withhold such an amount then the money can be reversed back. But most persons dare to test the other party if they will be foolish enough to release the crypto since they have sent screenshot of the payment but the money was reversed.

One thing about P2P transaction is that if the other opponent don't want to continue he is allowed to cancel the transaction but this guy here intentionally dont want to cancel the transaction proving he is in for scam.

[pakhitheboss]

In my country P2P is an option which is the reason why a lot of our community has stopped using it. Ultimately we found out that the market we, as in the community were using is filled with scammers. These scammers are using the crypto market to convert thier illegal fiat money to legitimate it.

The problem arises when crypto users got thier account frozen because they were using merchants who were offering more, as in conversion in USD to INR. The account of those greedy users got freezed and now it has become common.

[uchegod-21]

I was careless not to have gone through reviews on his past trades with people which would have helped me overcome the potential risk of lossing my asset to him.

At first, before you engage in P2P transaction with anyone in a centralized exchange, the things you got to look out for are;
1. The review percentage (96+%)
2. The number of trades completed in 30 days;
3. The volume of transaction
So, if all these are in place, you'll definitely have trade with the right person.

[Fiatless]

I have read about how some traders on some p2p
Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

I have never had such an ugly experience with any trader in crypto exchanges. I have always ensured that I received a bank alert and it must also reflect on my account balance before I release the coin. I have not heard about any exchange releasing disputed coins without proper investigation and confirmation. Both parties must agree before the coins will be released. Any exchange that does that without proper investigation will lose its reputation.

[God Of Thunder]

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

This is a common practice among scammers on centralized exchanges. You gotta be careful before you release your crypto. I guess whoever regularly sells on Centralized exchanges experienced something like this. I have encountered it twice, and luckily, I wasn't affected. The scammer marks the trade as paid without sending the money or by sending a fake SMS.

I had to complain to the support and let them know that the scammer did not pay, but they marked the trade as paid. Then the customer support helped me getting my fund unlocked and the scammer was banned from the platform. The suggestion is, always check your balance before you release your crypto.

[xmrhopium]

Have you had similar p2p experience? I Would love to know if there are cases where you've lost your coin to the buyer or instances when the system might automatically send your asset to a buyer that claims to have sent you money when he hasn't done so. others might learn from you.

I was the regular user of coinbase before they suspended my account without any logical reason like nearly 4 years ago and then later I found binance a bit good more than other cex's that supports p2p. on dex's never got any trouble for buying xmr meanwhile did many times transaction on cex's, and e-wallet is ok for p2p but sucks doing with banks or would say certain transaction fees that the bank collects at their end while sending money thru them for binance to next person and sometimes bank creates extra trouble to me for asking the source fund from where those cash coming but never such type of scam or bad incident happened to me yet or trouble that I gave to the next party who has successfully completed transactions but I always have to cross-check the account owner info to whether it matches the transaction amount, payment method that has been slected with another party, last 30-120 days transaction volume with amount (shows total in btc), rating (how much time the person takes to transfer/or conflict person he/she is, how old is the account interms of days count to avoid such scams and I think p2p option is the safest features among which are available on cex's, can complaint their customer care if another person try to scam you with any possible tricks. Afaik, customer care will deal in those uncertain technical error or broken feature while funds transferred automatically not by your mistakes.

The problem arises when crypto users got thier account frozen because they were using merchants who were offering more, as in conversion in USD to INR.

Also the more merchants are making it more problematic. Lets say if the 1 usd is equivalent to 22-25 something bla bla in my country after the conversion but those suckers are sucking blood out of hell while buying need to pay some additional 10-20 (my country currency) to them also with limitation on either all or non quantity and same while for selling too, keeps price below.

[john_egbert]

I was careless not to have gone through reviews on his past trades with people which would have helped me overcome the potential risk of lossing my asset to him.

At first, before you engage in P2P transaction with anyone in a centralized exchange, the things you got to look out for are;
1. The review percentage (96+%)
2. The number of trades completed in 30 days;
3. The volume of transaction
So, if all these are in place, you'll definitely have trade with the right person.

Agreed!
Of course, the risks would still be there, but what we can do is to minimize them, as much as it's possible from our actions and decisions.

[Hewlet]

From the story I may not conclude that the guy is dubious because something based on network problem or internal issues between the senders bank and the recipient could be responsible because if his intentions was dubious he wouldn't have even informed you that the money was reversed back to him instead he would have been insisting you release the assets to him, however I had almost the same encounter as you on p2p because the person claim to have sent me the funds when I have not receive the money and when I charted him up he showed me the receipt but I wasn't convinced, so he send me the transaction ID to contact my bank and when I did they told me to wait for few workers hours and before the next day I was credited so I have to release the assets for him, so actually if I hadn't done that I would have been thinking that the buyer was dubious when he was not, though yours could be different but I'm only saying based on my experience there.

But most persons dare to test the other party if they will be foolish enough to release the crypto since they have sent screenshot of the payment but the money was reversed.

you are absolutely correct about this. At the end of the process, i found out that he was just trying to test the kind of person he is dealing with so as to know how to get me to release the coin with a promise that it is actually my fault for using an account that could not accept up to that amount of fiat. the reviews i later read of him is what helped me never consider releasing the coin because i discovered that he was hoping by any means possible i get to release the coin.

with news that some scammers go to the extent of using voodoos on victim to manipulate their decision, i had the fear that he might be hoping that such kind of thing can work on me. good news is that he has been banned from the exchange after the customer service went through the process and he can no longer put up that sort of scam on other users.

[Hamza2424]

Hmm, there are some OKX experiences anyway mine was with Binance and with Bybit, at my early p2p days, due to the account receiving limit the buyer market order was done and he informed me first that my account limit had been reached but still even after informing me he marked the order as done, not sure what his intention was even though when looking back, I already know he wanted to scam me someway, fortunately with appeal option on Binance and their good support system it took 4 hours of my full effort (including sending the account statement, video proof, and some other requirement) they canceled my order and gave my USDT back. Until now things are much better with every exchange.

With Bybit, however, I had a frustrating experience. After attempting the same order five times and having it canceled repeatedly, I finally decided to withdraw my funds and move on to an other exchange.

[john_egbert]

Hmm, there are some OKX experiences anyway mine was with Binance and with Bybit, at my early p2p days, due to the account receiving limit the buyer market order was done and he informed me first that my account limit had been reached but still even after informing me he marked the order as done, not sure what his intention was even though when looking back, I already know he wanted to scam me someway, fortunately with appeal option on Binance and their good support system it took 4 hours of my full effort (including sending the account statement, video proof, and some other requirement) they canceled my order and gave my USDT back. Until now things are much better with every exchange.

With Bybit, however, I had a frustrating experience. After attempting the same order five times and having it canceled repeatedly, I finally decided to withdraw my funds and move on to an other exchange.

Good that you found the better options for yourself.
I didn't try p2p on Binance, but now I would know I wouldn't be left out there.
On OKX - never experienced nothing bad, because you have lots of time to check things up and check whether the funds got to you or not.
The process itself became much more fluent, and that puts a smile to my face.

[Stablexcoin]

with news that some scammers go to the extent of using voodoos on victim to manipulate their decision, i had the fear that he might be hoping that such kind of thing can work on me. good news is that he has been banned from the exchange after the customer service went through the process and he can no longer put up that sort of scam on other users.

Am not surprised people can go extreme to cheat their fellow brothers and sisters. But i believe in one thing, and that is voodoo or no voodoo my decisions cannot be influenced by anyone. They can do whatever they like i will stand on my terms and discipline.

Am glad you were not fooled by his malicious acts. Some persons may be pressured to have release the funds without receiving payment. Also, i want to say that the exchange you conducted your P2P in did not take actions quicker. 4 days is a long period when there is enough evidence against the scammer. This may put fear/panic to the other party who is innocent to make wrong decisions. However, the scammer is more familiar with this exchange and knows all the mode of operations in terms of longevity to response to issues like this. That is the main reason he left the trade active and refused to cancel it.