Always Be cautious When during P2P on exchanges

[I_Anime]

So I just came across this post/Thread  on "X" (formerly known as twitter) first i will drop the link of the thread ; so that you guys can access it  

https://x.com/CryptoPlays_/status/1876281899817095192?t=2iINU11w6vq-BVIva7sZWA&s=19

Always verify if the funds dun land for your bank account before releasing any token for anyone to avoid loss of funds , because some buyer are fund of that they always click on paid before they send the actual money , so be careful

And sometimes take your time and filter for verified users with nice reviews so that you won't fall as victim of any kind . Most of you do fall asleep victim because of unreasonable rate .

Most people will just say is just $159 , and the funny thing is that this can happen to anyone, and it can't be even better way higher $159 .

And also be careful with physical vendors , if you have any sure one keep to that one , than be finding others with unreasonable Rate.

[Adbitco]

Bybit has lost their integrity by operating on a sided part, I could remembered when such event happened to me it was like a hell because I was on a tight corner but they choose to be too fast by releasing coin automatically without even me confirming the alert first. I think the transaction took several days without the said vendor making payments to me, at some point I feel like withdrawing my funds to exchange to trade since the buyer aren't ready to make payment I just decided to have little patient if he would send it or not but to my greatest surprised I saw my funds vanished from my balance and when I tracked It was from the p2p trade that I didn't even received alert till date. In fact bybit deserves to be flagged.

[Odogwu-Blockchain]

The cause of every p2p scam on all p2p platforms is high rate, longer throat of high rate, once you are able to beat the greediness and win this bait then you don conquer, you no go ever fall victim of p2p scam.

Just calm down select vendor with minimal rates, not too high not too low, have done multiple successful trades as well as good trading history and percentage.

[Nwada001]

This type of case, which the op shared in X, is not a case of confirming payment without checking if you truly received the money or not; it's a case of how selfish the Bybit support system can be, and if you are not careful enough, you, who are the victim, will be treated as the scammer based on how the scammer follows up the case.
 
Using verified vendors could also help avoid such cases, but that's hard to detect since anyone can easily get verified. What I normally just do each time I want to run big transactions is just use some of my old and regular vendors with whom I have traded in the past; I barely use new buyers unless it's just for little cash.

[Cryptoprincess101]

OP there have been a lot of threads both in the general board and in the local board about scams on p2p platforms and we really need to be very cautious because scammers are going extremely wide now such that if you are not careful, you can easily fall to their trap. Even there is something that some scammers do in p2p platforms now, they will credit the amount to you and afterwhich they will report the transaction as a dispute and seek for a refund, so before you know it the money will be reversed back to them by their financial institution so what i do is that after confirming the payment, i normally transfer out the funds to my other banking account before i release crypto so that in case they try to play smart by lodging a dispute complaint, the money will no longer be found in that my account they sent the money to. We should be aware that the rate of scamming is on the higher side so that we can be very careful to anything relating to money.

Bybit has lost their integrity by operating on a sided part, I could remembered when such event happened to me it was like a hell because I was on a tight corner but they choose to be too fast by releasing coin automatically without even me confirming the alert first. I think the transaction took several days without the said vendor making payments to me, at some point I feel like withdrawing my funds to exchange to trade since the buyer aren't ready to make payment I just decided to have little patient if he would send it or not but to my greatest surprised I saw my funds vanished from my balance and when I tracked It was from the p2p trade that I didn't even received alert till date. In fact bybit deserves to be flagged.

Sorry for the experience you had with the exchange, BYBIT used to be a very reputable exchange but of a recent there have been increase in reports about sad experiences by customers who makes use of their p2p platform and it's a thing of concern because no one will be happy losing their had earned money while doing p2p operations. A friend of mine also shared an ordeal with the exchange and it was really a very sad one.

[Abu-Naim]

So I just came across this post/Thread  on "X" (formerly known as twitter) first i will drop the link of the thread ; so that you guys can access it  

https://x.com/CryptoPlays_/status/1876281899817095192?t=2iINU11w6vq-BVIva7sZWA&s=19

Always verify if the funds dun land for your bank account before releasing any token for anyone to avoid loss of funds , because some buyer are fund of that they always click on paid before they send the actual money , so be careful

If Bybit can do this to this seller, then you been careful of only releasing your coin after receiving payment has no use again because the buyer can tell Bybit the same thing that he uses a third-party payment method to see you money and you have to refund before they unlock your USDT.

This is actually terrible, but I think they are doing this because the reputable exchanges like Binance, KuCoin, and OKX we were using before how has left us, maybe they will think that they are alone now and can do any how, which is very wrong because they will soon lose customers.

And sometimes take your time and filter for verified users with nice reviews so that you won't fall as victim of any kind . Most of you do fall asleep victim because of unreasonable rate .

Most people will just say is just $159 , and the funny thing is that this can happen to anyone, and it can't be even better way higher $159 .

And also be careful with physical vendors , if you have any sure one keep to that one , than be finding others with unreasonable Rate.

If Bybit trade rating is in order, then I think we should always consider vendors with highest trade and good remark before intending to buy or sell USDT from them.
I have been using the filter for long, and I never encounter something like this, I do always check for rates that are mostly used by almost all vendors and I do check the number of trades and the rating before placing my order.
Let’s be vigilant.

[rachael9385]

So I just came across this post/Thread  on "X" (formerly known as twitter) first i will drop the link of the thread ; so that you guys can access it  

https://x.com/CryptoPlays_/status/1876281899817095192?t=2iINU11w6vq-BVIva7sZWA&s=19

Always verify if the funds dun land for your bank account before releasing any token for anyone to avoid loss of funds , because some buyer are fund of that they always click on paid before they send the actual money , so be careful

And sometimes take your time and filter for verified users with nice reviews so that you won't fall as victim of any kind . Most of you do fall asleep victim because of unreasonable rate .

Most people will just say is just $159 , and the funny thing is that this can happen to anyone, and it can't be even better way higher $159 .

And also be careful with physical vendors , if you have any sure one keep to that one , than be finding others with unreasonable Rate.

Watin you talk nah true. And the fact say after you click on release coin you go also see "I confirmed that I have received the payment" before putting your password so you can release the coin sef dey helpful just incase you mistakenly press the release button while make a p2p trade.
E dey good for us to verify say we done receive the money from the p2p merchant before we release the coin because anything way make us release coin when the vendor never pay, nah by the grace of God (or em get the fear of God) before em go fit pay you your money after you release coin.
Also, make we find verified vendors when we won do p2p transactions because many vendors nah scam them be. And any rate way you notice say no align with others own no use am because nah scam. The most important thing be say make we use a trusted exchange for p2p transactions and make we no keep big money inside exchange.

[Futurexxx]

So I just came across this post/Thread  on "X" (formerly known as twitter) first i will drop the link of the thread ; so that you guys can access it  

https://x.com/CryptoPlays_/status/1876281899817095192?t=2iINU11w6vq-BVIva7sZWA&s=19

Always verify if the funds dun land for your bank account before releasing any token for anyone to avoid loss of funds , because some buyer are fund of that they always click on paid before they send the actual money , so be careful

And sometimes take your time and filter for verified users with nice reviews so that you won't fall as victim of any kind . Most of you do fall asleep victim because of unreasonable rate .

Most people will just say is just $159 , and the funny thing is that this can happen to anyone, and it can't be even better way higher $159 .

This p2p matter na something wey we no surpose take play oo, it might look as nothing for ur eye till you fall victim, na that time you go learn.

I nearly fall victim sometime ago in the past, but due to say I dy concentrate 100% I no fall, the man pay 10k instead of 100k, him come dy pressure me to release coin, I chat am back and tell am say the money no complete say na 10k him send, na their him come say na mistakes, wey him come later send the remaining 90k, and another thing we really need to watch out for na if the senders name matches the one for our bybit or any exchange wey dy use, e dy very important to avoid had I know.

And also be careful with physical vendors , if you have any sure one keep to that one , than be finding others with unreasonable Rate.

I no Advice any form of physical vendors oo, our country no dy that safe, so try protect yourself and your asset, make them no Robb you of ur hard earned money.

[Cityhunter34]

Cautiousness is crucial in P2P transaction. As you mentioned, the promise of high returns often leads to reckless decisions, causing many to fall victim to scams. We tend to prioritize big gains over potential risks.

A friend experience serves as a cautionary tale. While trading P2P, opted for a large amount without verifying it's legitmacy, only to discover it was a scam after releasing the coins. He lost a substantial amount and was left regretful.

This incident me to exercise extreme caution while trading. I now verify transactions thoroughly and consider  potential risks before making any decisions.

[Tonimez]

Issue of P2P remains one of my biggest nightmares in crypto trading. The inability of people to keep trust is the major problem of P2P and Bybit has lost its credibility in tracking down scammers. Bitget use to be the problem, but recently, it is even safer there.
Being cautious is something everyone involving in P2P must do to avoid loosing his assets.
My friend once lost over $200 and never recovered it again.
If you don't trust the process, I advise getting your buyer among the group you know majority of the members who will in turn know any other person you get involved with.

[Hewlet]

Just calm down select vendor with minimal rates, not too high not too low, have done multiple successful trades as well as good trading history and percentage.

while doing this is very good, we need to consider say sometimes you fit still fall victim into some that looks to be reputable but that isn't.

how bybit take structure there customer service regarding her dealing with p2p issues de too weak and any scammer when de smart enough fit easily outsmart the appeal process and the system go release the coin to the wrong user who might even be the scammer. for us when be Nigerians when e be say if the process no de transparent, we no go even fit follow up the matter through our securities based on regulation matter, e just make sense make everyone de on him guide make you no go lose money when go choke. wetin i don learn na never to do transaction when de too big incase i encounter scammer in the process. split your transaction into different p2p merchant make your big money no go hand one day.

[Josefjix]

What I normally just do each time I want to run big transactions is just use some of my old and regular vendors with whom I have traded in the past; I barely use new buyers unless it's just for little cash.

What if this your old user is not active online and you want to trade and get your Fiat urgently, what will you do? To consider new vendors or you afraid to fall victim of scam on your bybit.

Bro, the major thing be say, make you no dey greedy when you want trade on p2p market, if you want consider high price, e go choke you, you go jam wrong hands and them go collect your money, try avoid that.

[CryptSafe]

Off Lately bybit has been on the news for the incompetence and unprofessional conduct of their customer care services. As a result of their carelessness, many vendors have lost their funds to scammers. I could recall mid  2024 an X user complained about the same thing and it was something similar to this case and now again the same thing is still repeating itself. Seems Bybit wants to lose the Nigerian community from their platform if they keep up with this careless attitude of theirs.

Although I have had vendors wanting to play me in the past on the Bybit platform I did not fall for their tricks. What I do first is alert them of their payment and wait for them to make their payment. As soon as payment is made, I receive an alert, I quickly transfer to another bank account to properly confirm the money before I will release any thing to the buyer. Sometimes we just need to be at alert with some measures to making sure we and our funds are safe.

[Charles-Tim]

Bro, the major thing be say, make you no dey greedy when you want trade on p2p market, if you want consider high price, e go choke you, you go jam wrong hands and them go collect your money, try avoid that.

What I noticed last year is that the scammers now have normal rates like others. The exchanges have been making sure no one use very high price to lure people since Nigerian regulators have been looking into the exchanges and banned some exchanges last year because of the high price. Although, not that Nigerian regulators were right but that made the exchanges to be checking the price and making sure no one has strange price.

[Josefjix]

Bro, the major thing be say, make you no dey greedy when you want trade on p2p market, if you want consider high price, e go choke you, you go jam wrong hands and them go collect your money, try avoid that.

What I noticed last year is that the scammers now have normal rates like others. The exchanges have been making sure no one use very high price to lure people since Nigerian regulators have been looking into the exchanges and banned some exchanges last year because of the high price. Although, not that Nigerian regulators were right but that made the exchanges to be checking the price and making sure no one has strange price.

Not on some exchange, Noones previously called paxful still has scammers using high rate to lure newbies into trading with them, after the Nigeria regulators affected many exchange last year, Paxful do not really change and still operating as they were. I discovered that most of the buyers on this exchange are Chinese merchant that trade in Naira and Nigerians itself where they are just manipulating the price as they want.

Some buyers will inbox you on the trade chat section to perform trade on Whatsapp with them, saying they don't find it conducive and comfortable with the price on Noones, that they'll give you the best rate if done via Whatsapp. Such business and approach self is risky and it not worth trying.

[Charles-Tim]

Not on some exchange, Noones previously called paxful still has scammers using high rate to lure newbies into trading with them, after the Nigeria regulators affected many exchange last year, Paxful do not really change and still operating as they were. I discovered that most of the buyers on this exchange are Chinese merchant that trade in Naira and Nigerians itself where they are just manipulating the price as they want.

Ray Youssef was one of the founders and the CEO of Paxful. He left to create another exchange called NoOnes and Paxful closed down. Paxful started to operate again some weeks or months after. Paxful and Noones are separate exchanges.

I am not trading on Paxful. Probably you might be right.

[Mpamaegbu]

Always verify if the funds dun land for your bank account before releasing any token for anyone to avoid loss of funds , because some buyer are fund of that they always click on paid before they send the actual money , so be careful

Dis wan na correct yarn. I don observe am and wen e happen like dat I go just tell d buyer to be careful wit me bc any further delay I go report im account straight up. You go see how dem go begin blame am on network. My own be sey if I nor confirm d cash for my account, I nor dey release coin if you like scream reach tomorrow. Normally dem nor dey like make d timer close b4 dem rectify dem nonsense. Odawise I dey appeal at once. No time.

And sometimes take your time and filter for verified users with nice reviews so that you won't fall as victim of any kind.

Dis wan nor supposed be sometimes oh. Na every time thing. Once I click buyer/seller, d next thing na verification and then I read up their reviews, trades done and the percentage of execution afta wey I don check their rates. Dat na if na new merchants I wan deal wit. Odawise, e go dey good to bookmark merchants wey you don deal with b4 without stress so you can easily check dem up to know if dem get advert.

[I_Anime]

Issue of P2P remains one of my biggest nightmares in crypto trading. The inability of people to keep trust is the major problem of P2P and Bybit has lost its credibility in tracking down scammers. Bitget use to be the problem, but recently, it is even safer there.
Being cautious is something everyone involving in P2P must do to avoid loosing his assets.
My friend once lost over $200 and never recovered it again.
If you don't trust the process, I advise getting your buyer among the group you know majority of the members who will in turn know any other person you get involved with.

Having a physical vendors still has is own disadvantages, one of my fear most time is when am the buyer, like my first P2P in this space was horrible, so then I was using binance webs so I choose a seller and rate  I want to buy from , so I sent the money to the seller then I try clicking the "I have made payment" but I was having network issues and the site was also slow due to that .

Then when I managed to click the icon I noticed that what few time left, so I waited the seller did not released the coin so I had to DM the seller and he didn't replied but the message was viewed, and that's when I began to panic then I had to report the case to binance customer service with all proof of the transaction, the thing that helped was that we where using same bank account which was kuda then I reported him to kuda , without mentioning anything concerning cryptocurrency. Then they told me that  i should wait, so I waited then 4 days later they refunded me my money and they hold his account for a while he had to find my number and call me to beg me to cancel the report I made, the funny thing he had already sent me my token after he noticed that I was the one that reported him.

So I had to the right thing by refunding the money back to him that kuda gave me because he had already send the coin before kuda sent the money to me , then he apologized and that's how we became friends Las Las because the guy is a trader, so what am trying to say is that has buyer ànd seller you have to be careful.

[Zigabel]

I have seen some funny experiences on p2p platforms where some people will mark the transaction paid just to trick you the seller into releasing your coins but if you are yet to confirm please don't fall for such as some may even go as far as appealing so they get to look convincing and on the other hand, some may not release coins even after payment, be sure that you are using this fintech services (opay, kuda and the rest of them) for quick confirmation so that you don't get to fall victim of delayed transactions leading to these people thinking you are not been honest and if you are on the other side you get to confirm your money quickly before release of your assets.

[CryptoHeadlineNews]

Most people will just say is just $159 , and the funny thing is that this can happen to anyone, and it can't be even better way higher $159 .

And also be careful with physical vendors , if you have any sure one keep to that one , than be finding others with unreasonable Rate.

It's funny how in my many years of been the crypto space, I always hear people say they have been a victim to this p2p smart scamming method, but never for once have I experienced it while converting my Bitcoin on a crypto exchange to our Nigerian fiat currency. Because I think while trying to initiate a fiat or crypto sell trade on p2p platform, there are 2 things we never always underestimate, such as "is the buyer verified or not", the volume of trade he/she has made and lastly the trading conditions been given in the sells page by the buyer", because these 3 key factors always played an important role to avoiding scam on p2p platforms. Likewise, checking if you have received the money in your bank account before confirming any trade is another thing that we shouldn't joke with.

However, if you have a mistake to confirm a trade on either Binance or Bybit without receiving payment, I just noticed that you can make an appeal to Binance support and your fund will be reversed back, but just that this process usually take longer process, and as such it's take to take precaution serious.