What is the most reliable way to convert fiat to crypto asset?

[Osas4real]

Hi everyone, I'm new to the community.

Of most times, I've been using the P2P method to convert my fiat currency to cryptocurrencies but few weeks ago on the CEX platform I regularly use, on transferring the fiat currency to the account of the seller, he didn't release the asset for a very long time. As for most of us who uses CEX for P2P transaction, there is an option to make appeal and submit a proof of payment, so the support team on the CEX could help out with the remaining process.

Though I was able to get the asset I paid for after the support team has done their work, but I wasn't at ease and peace for that period of 2 days this whole event took.
Of recent, I observed such delay once again... that was last week Saturday. And I still have to go through same process once again.

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

[cryptoaddictchie]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

I think you are using Binance p2p system right? Based on the details Ive read. If youre not comfortable with that then try to direct fiat from bank to crypto I think they got that kind of option unless the fiat currency tou are using arent supported on the platform, youll have no choice but do that. But majority of fiat has been supported so I guess its gonna work for you. Have you tried that one? For me I like the p2p system in terms of fees its relatively much smaller compared to direct.

[Charles-Tim]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

What makes it not reliable? The people in your country that is trading with you are the ones. If you go to other P2P platforms, you will still experience the same thing there. This is not only happening in your country but it is happening everywhere. Only what you can do is to learn how to avoid P2P scam, but if you want to avoid something like this, check the rating of the person you want to sell your coin too and also check the duration of time the person use to complete his P2P trade.

[BenCodie]

Check out something like Bisq where you can do fiat transactions peer to peer (online or face to face), it's basically a decentralized version of the peer to peer functions that CEXs offer. There are also other P2P apps like Peach which can help. Both are region dependent, though both can be reliable and P2P ways to convert fiat to bitcoin/crypto. kycnot.me also has a fiat section with services that might be able to help as well.

[Charles-Tim]

Check out something like Bisq where you can do fiat transactions peer to peer (online or face to face), it's basically a decentralized version of the peer to peer functions that CEXs offer. There are also other P2P apps like Peach which can help. Both are region dependent, though both can be reliable and P2P ways to convert fiat to bitcoin/crypto. kycnot.me also has a fiat section with services that might be able to help as well.

Try and read what OP posted again. He is asking about reliable way to convert fiat to crypto asset but that is not what he needs. Read my post up there to understand the reason I posted this. He is still dealing with the same people which are the people buying cryptocurrencies from his country and not about the platform he is using.

As for using a decentralized P2P, that is a good way to privacy.

[notocactus]

You can find people who can trade with you in person but make sure you know that person well and your trade partner is trusted enough.
Alternatively you can trade on non KYC platforms with cash as one of two payment gates and you can choose another gate is in bitcoin or altcoins such as Monero.
For example but you surely can customize the filter differently
https://kycnot.me/?t=&q=&cash=on

[BenCodie]

Check out something like Bisq where you can do fiat transactions peer to peer (online or face to face), it's basically a decentralized version of the peer to peer functions that CEXs offer. There are also other P2P apps like Peach which can help. Both are region dependent, though both can be reliable and P2P ways to convert fiat to bitcoin/crypto. kycnot.me also has a fiat section with services that might be able to help as well.

Try and read what OP posted again. He is asking about reliable way to convert fiat to crypto asset but that is not what he needs. Read my post up there to understand the reason I posted this. He is still dealing with the same people which are the people buying cryptocurrencies from his country and not about the platform he is using.

As for using a decentralized P2P, that is a good way to privacy.

OP asked for more reliable "ways" which can refer to both the platform and the people, as the existing P2P solution on the CEX he is using has proven unstable. The suggestions I gave are also P2P solutions which have different mechanisms in place to do the same thing, and might be able to support the trades more reliably (depending on the region). I wouldn't only blame the issue on people either, I'd also blame the platform, who have somewhat of a responsibility to rate its users (buyers and sellers) in a way that increases the likelihood of trades being successful. I can't see what I misread, I still think my post might help with different routes of converting fiat to crypto reliably in comparison to the CEX experience he had, which clearly are not properly rating its users optimally by displaying unreliable traders.

[Peanutswar]

I guess you need to make consider if your exchange you are using is allowed to support your country because if yes for sure they will offer a services that might support with your direct buy of p2p with your fiat currency into a crypto in a easy way, could be a digital wallet or banks you can see that with their features of p2p or deposits. But be careful with the P2P does not mean that you are with the exchange platform its safe still there are some people right there doing scams, personally I'm not fan of it so instead I will find a local app into my country to use from fiat to crypto and then transfer again.

[suzanne5223]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

If you care about your privacy and the crypto you want to buy is Bitcoin, you can buy through Bisq which is open source p2p platform, or visit the p2p exchange section of this forum to trade with reputable member, and you can also create your offer but footing your rank I will advice you make use of an escrow service.

If you don't care about privacy, Binance has an express p2p trading service, which is fast, and if Luno is not restricted from your region, you can use Luno, which will allow you to accumulate crypto fast once you have deposited fiat currency into your account on their platform.

I think you are using Binance p2p system right? Based on the details Ive read.

Maybe, but 98% of all CEX p2p service models are almost the something, and the only thing that makes Binance p2p trading different is that they have express p2p trading, which is a fast p2p trading service.

[348Judah]

Of most times, I've been using the P2P method to convert my fiat currency to cryptocurrencies but few weeks ago on the CEX platform I regularly use, on transferring the fiat currency to the account of the seller, he didn't release the asset for a very long time. As for most of us who uses CEX for P2P transaction, there is an option to make appeal and submit a proof of payment, so the support team on the CEX could help out with the remaining process.

Lots of factors could cause delay in getting your order confirmed, some may be due to banks issues, some inexperience of the buyer or seller, another one is when you're trading with a scammer, they can intentionally do such to piss you off for no reason, if you see that such persist, you can make use of another exchange or get to use of a more trusted user.

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Except you will make use of a decentralized or note the users that are found in this kind of mess and avoid trading with them.

[Zaguru12]

I guess you need to make consider if your exchange you are using is allowed to support your country because if yes for sure they will offer a services that might support with your direct buy of p2p with your fiat currency into a crypto in a easy way, could be a digital wallet or banks you can see that with their features of p2p or deposits. But be careful with the P2P does not mean that you are with the exchange platform its safe still there are some people right there doing scams, personally I'm not fan of it so instead I will find a local app into my country to use from fiat to crypto and then transfer again.

The thing is when your country has a restriction on bitcoin and cryptocurrency you become extra careful and one of the worst set of platforms during this period are the local platforms, yes they allow the direct swap from any coin to your fiat and vice versa but they usually have a very poor support and most of the time when they lockup your funds inside there is absolutely no where for you to go and complain, its Same reason why people in such countries hardly engage in physical P2P either . What is more popular is usually the P2P on top centralized exchanges which although not 100% safe from scam too but at least you can open appeal case and possibly get your funds.

What I will advice OP is there is nothing much to do due to your country’s restrictions rather just continue to use those exchanges but filter out those vendors by ratings and successful trades completed and also do not use P2P when you’re in a haste have some fiat and use the platform at a comfort period so as to avoid been hasty while making deals

[Hyphen(-)]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

There is no method that is 100% reliable in cryptocurrency, but there are methods that have less risk and CEX p2p transaction is one of them because you can easily convert your crypto to fiat using the method without any fear of losing money easily to a scammer if you are cautious and follow the due process as advised by the exchange.

I don’t know if there is any process as a safer as this p2p method of centralized exchanges, but I think you can use filter to chose some vendors that will pay you on time based on their ratings; there are vendors that don’t delay payment, they do pay within 15mims or so, so if you can get such vendors, you will have an easy transaction without fear.

[AprilioMP]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

If you're using a local exchange, I don't think you'll have any problems making fiat deposits to the exchange. If the problem lies in the restrictions of the banking institutions in your home country, I think you can use some of the recommendations that have been given here and that Charles-Tim has put into practice.

[Zigabel]

Experience has got its own way off getting people to responding to things the way they do St every instance and such appears to be the case with you judging from all I have red in your post. I want to comment that you should understand firstly that nothing is 100% in this space but you have got s lot that you can still trust, I'm saying nothing is 100% because beyond just human activities are some uncontrollable factors that may affect transactions online.  Below are some other methods I will suggest you explore to help your confidence.

Trading with some one you know on a very personal level who is into crypto and has got assest to sell or is willing to buy from you when you want to sell.  Try using escrow service awa ly from the known CEX or DEX you know about, with escrow you can have some good levels of confidence because such service has got something enough to protect such that they wouldn't want to get messy with your dealings.you can also try walking in stores where you rather make a direct purchase with your crypto assets, that way you don't have to bother about converting to Fiat first. These are the few I can mention, you can make further research and you will come across other safer options that suits you.

[KingsDen]

Since you are already registered with a CEX and have been using their P2P, I'll advise you to continue using them. You just have to improve your understanding of the platform and use it better to your own advantage. There's no safe haven in this space, so you have two be diligent always .
This is what you can do;

• If you know a particular P2P seller that is trustworthy, get his contact and always trade with him on the CEX platform.
• Trying to choose who to trade with, look at their feedback scores. Anything less than 90 to me is risky.

So, with this you can have a better experience.

[Callido]

That is CEX for you, there is no reliable way else to convert your fiat to an asset without delay. The solutions is to be careful when selecting your peer for the trade, don't just be quick to select those at the top, check the activeness of the person you plan to deal with if online at the moment, some of them do include their phone contact for easier communication you can reach them personally to make sure of the reason for delay of releasing assets, call declining should be seen as bad behavior and can be appealed for release from CEX.

[Osas4real]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

I think you are using Binance p2p system right? Based on the details Ive read. If youre not comfortable with that then try to direct fiat from bank to crypto I think they got that kind of option unless the fiat currency tou are using arent supported on the platform, youll have no choice but do that. But majority of fiat has been supported so I guess its gonna work for you. Have you tried that one? For me I like the p2p system in terms of fees its relatively much smaller compared to direct.

Not Binance per say, I make use of Gate.io, cause Binance P2P is no more active in my country... I was making use of Bybit and I noticed every P2P trade took so long time then I moved to Gate.io.

As for the direct deposit, I haven't try that because of the phobia I have as regards to the government restrictions, so my Bank account won't get blocked or seized.

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

What makes it not reliable? The people in your country that is trading with you are the ones. If you go to other P2P platforms, you will still experience the same thing there. This is not only happening in your country but it is happening everywhere. Only what you can do is to learn how to avoid P2P scam, but if you want to avoid something like this, check the rating of the person you want to sell your coin too and also check the duration of time the person use to complete his P2P trade.

This is informative, but to be frank I do compare ratings most times, aside from that, even those who tend to have a high rating still fall in this category. I keep wondering if it's an intentional act.

[Mrbluntzy]

, I've been using the P2P method to convert my fiat currency to cryptocurrencies but few weeks ago on the CEX platform I regularly use, on transferring the fiat currency to the account of the seller, he didn't release the asset for a very long time. As for most of us who uses CEX for P2P transaction, there is an option to make appeal and submit a proof of payment, so the support team on the CEX could help out with the remaining process.

OP, I have few questions to ask, how long have you been using the exchange p2p service? Have you been experiencing such delay in releasing of asset since you started using the exchange?

For the fact that you reported the transaction and the exchange made it possible that you received your payment, I assume that the exchange is good but the problem you are facing is the bad attitude of those strangers in your country that are involved in the p2p transaction with you.

If you don't experience the problem all the time, then you need to carefully figure out those users that delay your payment and blacklist them so that any time you want to do p2p their ads will not be visible to you. You can also report the users to the exchange.

[Su-asa]

Hi everyone, I'm new to the community.

Of most times, I've been using the P2P method to convert my fiat currency to cryptocurrencies but few weeks ago on the CEX platform I regularly use, on transferring the fiat currency to the account of the seller, he didn't release the asset for a very long time. As for most of us who uses CEX for P2P transaction, there is an option to make appeal and submit a proof of payment, so the support team on the CEX could help out with the remaining process.

Though I was able to get the asset I paid for after the support team has done their work, but I wasn't at ease and peace for that period of 2 days this whole event took.
Of recent, I observed such delay once again... that was last week Saturday. And I still have to go through same process once again.

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

Your thoughts will be highly appreciated.

However am a Nigerian and p2p is no longer working on binance in Nigeria so I normally use other exchange to exchange from crypto currency to fiat currency and fiat currency to crypto currency and it has been reliable ever since. Actually I would advise you to always check the time frame before continuing with any trade because some of the marchants trade time is from 30 minutes to 1hrs, so if you want to do a fast trade you consider using the ones who's time is in 15 minutes.

[coupable]

In a nutshell, all I'm trying to point out here is that now the source I have been using for long is becoming practically not 100% reliable to me again. Are there other possible ways that could be more reliable because my country has some little restrictions on crypto especially from bank institutions...

What makes it not reliable? The people in your country that is trading with you are the ones. If you go to other P2P platforms, you will still experience the same thing there. This is not only happening in your country but it is happening everywhere. Only what you can do is to learn how to avoid P2P scam, but if you want to avoid something like this, check the rating of the person you want to sell your coin too and also check the duration of time the person use to complete his P2P trade.

Even user ratings aren't a solid indicator of the integrity of users in performing deals and transactions. I personally was intentionally scammed by a seller on Binance who had high trust ratings and no one complained or left a negative rating in his profile (except me the later). The story was that I made a mistake sending money and didn't notice that he canceled the whole order while I was sending the money. After I asked him to release the crypto, he refused, and support couldn't convince him that this was a human error that always happens. I believe he abandoned his Binance account completely. I lost over $800, and unfortunately, I still often resort to using peer-to-peer platforms when I can't find a local seller.