Avoid buying Bitcoin from someone all because you know them.

[sokani]

I don't get it, do you mean online P2P or what let me get you correctly? If yes" then I think that is almost impossible because there is no way you will avoid P2P. the only way to avoid P2P trading is when you decide not to go into crypto investment or trading so Long as you're still in this crypto space definitely you will get to a point where you will have to do P2P, rather you just need to be extremely careful when doing P2P so that you won't end up repeating that same mistake you made earlier. Instead of avoiding P2P or are you indirectly saying that face to face exchange is the best? If yes then I think you must be joking because face to face exchange is even more risky than online P2P.

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

[BIT-BENDER]

I don't get it, do you mean online P2P or what let me get you correctly? If yes" then I think that is almost impossible because there is no way you will avoid P2P. the only way to avoid P2P trading is when you decide not to go into crypto investment or trading so Long as you're still in this crypto space definitely you will get to a point where you will have to do P2P, rather you just need to be extremely careful when doing P2P so that you won't end up repeating that same mistake you made earlier. Instead of avoiding P2P or are you indirectly saying that face to face exchange is the best? If yes then I think you must be joking because face to face exchange is even more risky than online P2P.

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

I recently found out that many people do not know about exchange and that you can buy and sell Crypto-currency on exchange. I had a conversation with a friend and he was tell me how his Crypto-currency vendor is now getting slow if I could introduce him to another Crypto-currency vendor. I was shocked that people believe that buying from vendors or selling to them is the only way to trade Crypto-currency. We need to start teaching people as much as we can.

[Cookdata]

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

There are other centralized exchanges that support NGN to other coins trade in their p2p services. Bybit is one of the popular ones, among there is Gate exchange and Bitget but I don't think they have good service like the way Binance was doing back then buy along the line, the Nigerian government relationship and that of Binance didn't end well that they have to end p2p service in Nigeria indefinitely, I don't blame the Nigerian government though, if Binance could get sue by US, they can get sued by any other countries.

There other small platforms that support NGN p2p service, they are stand alone exhanges not designed like the conventional centralized exhanges but there rate is cool. Exhange like Remitano has been on the line for long time but their problem is you will have to do KYC before you can use any of their services. I don't think there is any centralized exchanges right now that offer p2p service in Nigeria that offers any crypto services without KYC.

[I_Anime]

I recently found out that many people do not know about exchange and that you can buy and sell Crypto-currency on exchange. I had a conversation with a friend and he was tell me how his Crypto-currency vendor is now getting slow if I could introduce him to another Crypto-currency vendor. I was shocked that people believe that buying from vendors or selling to them is the only way to trade Crypto-currency. We need to start teaching people as much as we can.

Is not everyone that are exposed to the kind of knowledge we have already expose to in this space . Yes many still believe vendors is the only way or best way to sell and buy from . I was even the one That put most of my friends through on how to make use of p2p in crypto exchanges.

So that they won’t endup falling victim of any form of scam relating to buying or selling coin to vendor. Sometime for safety reasons is better you keep things anonymous, because some of us even go to the extent making someone they are very much familiar with their vendor not bad but it can still put you in danger especially you always make transactions of huge amount of money .

[sokani]

There are other centralized exchanges that support NGN to other coins trade in their p2p services. Bybit is one of the popular ones, among there is Gate exchange and Bitget but I don't think they have good service like the way Binance was doing back then...

Binance had NGN in both the spot trading and P2P market. So you don't necessarily need to use P2P market if you want to trade and at the moment, I don't there's any global exchange that supports NGN in its spot trading section.

I recently found out that many people do not know about exchange and that you can buy and sell Crypto-currency on exchange. I had a conversation with a friend and he was tell me how his Crypto-currency vendor is now getting slow if I could introduce him to another Crypto-currency vendor. I was shocked that people believe that buying from vendors or selling to them is the only way to trade Crypto-currency. We need to start teaching people as much as we can.

Yeah some people don't know it. As a Nigerian, another exchange where one can trade without needing to go through P2P is Remitano. It has a swap feature which one can use to trade crypto for fiat and vice versa.

https://remitano.com/la-en/forum/144420-how-to-swap-crypto-btc-eth-usdt-to-naira-ngn-with-maximum-efficiency

[RockBell]

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

And the best way to keep your buying a secret and to avoid a lot of things is for them to actually just go to an exchange to buy and when you buy from the exchange because when you are buying your privacy is protected and after buying the best thing is to take it to your wallet because you have to do everything possible to learn to keep your funds safe because if you don't keep it safe they it has the chances of getting hacked if not kept intact. and if as the currency was de listed but there other exchanges that actually accept peering on NGN but they are very few so its just to know which one to use and there services is what is consider.

[arwin100]

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

I recently found out that many people do not know about exchange and that you can buy and sell Crypto-currency on exchange. I had a conversation with a friend and he was tell me how his Crypto-currency vendor is now getting slow if I could introduce him to another Crypto-currency vendor. I was shocked that people believe that buying from vendors or selling to them is the only way to trade Crypto-currency. We need to start teaching people as much as we can.

They are total newbies if they don't know that thing exist and usually these people are easy to get scam that's why they must know the risk of what they are doing.

But upon learning more things about Bitcoin its better for them to know on which legitimate platforms they can buy Bitcoin since its not hard to do research about on how they can do this. There so many ways on where they can buy Bitcoin easily.

That's the reason why they should avoid buying direct to people since its possess huge risk since we don't know what the other end think about since money is root of evil and we should avoid exposing ourselves that we have some capabilities to buy Bitcoin.

[bhadz]

I was optimistic before to meet, buy and sell to other people in person because we share common interest for Bitcoin. This was like a decade ago and when I was still new to Bitcoin. But realizing that there's a need to be protected from the harmful people that also share the same interest but have a bad intention during meet ups. That's why even if the centralized exchanges don't have better rates, that's what I am choosing to do my business when I am about to sell or buy. It's safer and hassle free, although I'm still leaning forward to meet real good people that share the same interest about Bitcoin but, there's no need to disclose of how much we hold.

[Forsyth Jones]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

I partially agree with your last comment, but there're many people who prefer to trade outside of exchanges for privacy reasons rather than simply because they're committing a crime. In any case, the parties involved have every right to question the funds and make the transaction as viable as possible, once the associated risks and benefits have been identified.

And most importantly, be wary and avoid trading with people offering discounted Bitcoin. Remember, everything has its price.

You need to be very careful when trading with anyone. Try to trade with people who trade with other people (P2P) and who have good references and reviews. You can use a mixer after receiving the funds from the trade to obtain coins from other sources without a bad track record.

Bisq is already an option that was created precisely to facilitate intermediation between the buyer and seller without either committing fraud. Why not join? It's a decentralized exchange that accepts not only Bitcoin, but also XMR, ETH and other coins.

And if you are going to negotiate face-to-face, think twice, arrange to meet in public places, go with someone you trust, and don't negotiate large amounts of fiat money.

[Jewan420]

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

There are many cases in the world where a sale is offered at a low price. There are many stupid people who fall into that trap without thinking about anything and considering the recent profit. This is mainly possible with a stupid person, they cannot think long term and do not even consider why someone would give me something valuable at a low price? There must be some secret hidden here or this asset is illegal.

However, the issue of selling Bitcoin face to face should always be suspicious. It should be even more suspicious when you are offered a low price. Because it does not take much effort or knowledge to convert Bitcoin to fiat from the exchange. If someone claims that he cannot convert Bitcoin to fiat, then teach him or help him. It is always better to ignore greed, wherever temptation is involved. Because, after all, it will hurt you.

[ejikeme24]

I don't get it, do you mean online P2P or what let me get you correctly? If yes" then I think that is almost impossible because there is no way you will avoid P2P. the only way to avoid P2P trading is when you decide not to go into crypto investment or trading so Long as you're still in this crypto space definitely you will get to a point where you will have to do P2P, rather you just need to be extremely careful when doing P2P so that you won't end up repeating that same mistake you made earlier. Instead of avoiding P2P or are you indirectly saying that face to face exchange is the best? If yes then I think you must be joking because face to face exchange is even more risky than online P2P.

You can actually buy crypto on exchange and withdraw to your wallet or sell your crypto and withdraw directly to your bank account without using P2P. Some exchanges support local currencies like USD, GBP, EUR, etc, and they've their trading pairs, which makes it easier to trade and withdraw. Binance used to support BTC/NGN, ETH/NGN, and USDT/NGN trading pairs, but they were delisted after the arrest of their staff by the Nigerian government.

I recently found out that many people do not know about exchange and that you can buy and sell Crypto-currency on exchange.

I know that right but it's been Long I used the method of selling in exchange and withdraw it direct to my Bank account, i could remembered using that method on roqqu is also an exchange but I stopped making use of that exchange after a friend of mine complained to me that he lost most of his assets in that exchange then I stopped using it. But I think that's because he didn't remembered his password that is why he was unable to recover those asset, but that's by the way and yeah binance used to support that before but all of a sudden they changed everything. just as you said about nigeria government getting thier staff arrested and that's the case.

[lizarder]

They will be charged to court I heard, and the case is still on, the parent are now finding every means to save their son from the mess, and truthfully he is not a part of the criminal activity, all he did wrong was buying the Bitcoin, he was the first to get arrested and he led the agents back to the other guys.

This should serve as an example to all beginners, if someone can't buy or sell their digital assets on exchanges, you have the right to be suspicious, teach them how to if you can but don't ever buy from them, it can be stolen digital assets.

It's not clear what the problem is because I've made direct purchases of Bitcoin from people I know, but so far there haven't been any issues. The only concern about buying Bitcoin directly if someone doesn't know the person is that it could lead to physical attacks and the possibility of criminal involvement for crimes committed by people claiming to have Bitcoin for sale. Cases like the one you describe are probably rare and should be avoided because there are still many exchanges available for buying.

This is a good reminder to be more cautious and avoid activities that could harm them. Especially for some beginners who may not fully understand about security and feel more comfortable buying bitcoins on an exchange because currently there are many exchanges that provide bitcoin purchases.

[programmer3666]

This is a very solid warning bro!! a lot of people think because they know someone on a personal note, so that automatically makes the deal safe but in reality, trust does not protect you if the Bitcoin or any other coin at all turns out to be a stolen one. because once law enforcement steps into the mstter!! the first person holding the coin is automatically in a deep trouble even if he is innocent like that 25 year old!! becasue this days crime has no age tag. i agree with you that any time somebody is offering Bitcoin at a discounted price, that is already a red flag from the get go. if it was clean, they would just sell it on an exchange with no stress at all. People need to understand that P2P deals are kinda risky and it is not worth putting your name, freedom or future on the line for it is better to stick to trusted platforms than end up in court for something you didn’t even plan for.

[IjawMan]

Is there any local news that talked about it? I will like to read from a site about it.

This is very possible.

But the reason I do not like face to face sales of bitcoin is that it can lead to physical attack. We have read on different news about different people that were physically attack all because those that attacked them know that they have bitcoin. Attack can come from anywhere, even from someone that you will not expect.

On seeing the tittle of the post I was anticipating to read a story about how someone was attacked physically by another someone they knew and bought bitcoin from. That has been the common scenarios I have been updated with about physical P2P trade. Not letting people close to you friends and relatives to know you have starch of bitcoin should not be taken lightly, trust is a priceless currency that should not be given to any person easily.

The exchange platforms are there for use and a discount sale from a cryptocurrency should not be a reason to land is in bigger problem that we are innocent of. My uncle will always tell me to beware of cheap articles.

[Judith87403]

This is a very solid warning bro!! a lot of people think because they know someone on a personal note, so that automatically makes the deal safe but in reality, trust does not protect you if the Bitcoin or any other coin at all turns out to be a stolen one.

You're very correct, no matter the relationship we don't have to trust anyone completely because you may be thinking that they can't harm you or do something bad to you but you will be surprise to see the other side of them some day. if it was before that was during the early stage, face to face exchange is the most recommendable method while few was trading with online P2P and then things wasn't that bad as it was in this current stage, is obvious that alot of things has changed and the rate of envy is very high which is why we have to adopt the new method of exchange so that to enable us be in the safer side even though online P2P is not risk free but I think it is more preferable than face to face exchange.

[Issa56]

I have come across lots of news how so many people where abuse and became victims of scammers at they meet buyers who want to buy these Bitcoin.

Bitcoin investors are suppose to protect themselves, people around you cant be trusted because if they know you holding bitcoin, they might decide to hurt you and steal your bitcoin away from you. If you are buying bitcoin, I do always recommend people to just buy from exchange, then they should withdraw their coin to a non custodial wallet after buying from exchange, but I don’t always like the idea of buying bitcoin from people physically.

Even if you are teaching anyone about bitcoin, then you are not suppose to allow them know your real holdings, they shouldn’t know what you worth, if you are explaining bitcoin to them, just create a new wallet, and make use of the wallet to explain everything to them, you can just deposit little amount of money to explain to people, at least they won’t know what you really worth.

But if they know you really holding so much bitcoin, don’t be surprise that people that you are planning to help might be people that will end up hurting you, so we all have to be careful and vigilant, criminals are really targeting crypto holders right now.

[sunsilk]

However, the issue of selling Bitcoin face to face should always be suspicious. It should be even more suspicious when you are offered a low price. Because it does not take much effort or knowledge to convert Bitcoin to fiat from the exchange. If someone claims that he cannot convert Bitcoin to fiat, then teach him or help him. It is always better to ignore greed, wherever temptation is involved. Because, after all, it will hurt you.

I agree that it's suspecting if the selling of Bitcoin face to face is so cheap compared to the exchanges. Because we don't understand the logic of it.

They will say that they are in need of money quickly but they can do the sell off through exchanges and have their money wired to their bank accounts.

And so, that's already something fishy that we all know can be done in a few minutes if they ever want to sell it. I'd avoid doing it even if it's encouraging.

[Abu-Naim]

The exchange platforms are there for use and a discount sale from a cryptocurrency should not be a reason to land is in bigger problem that we are innocent of. My uncle will always tell me to beware of cheap articles.

That is the main job of exchanges, they ease our stress of buying Bitcoin through the risk of p2p that might lead you into big trouble because no one should be trusted with your assets, and your Bitcoin savings is supposed to be your personal thing, not something everyone close to you should even know about because anyone can set you up just for money.

Instead of most of using exchanges as our wallets to save our crypto investments, used them as a marketplace where you can buy and sell your crypto coins only, and send your assets out of the exchanges to your personal wallets with immediate effects because the security of your coin lies in your hands.
Physical p2p might be the best but has nerve been something I will trust.

[Makus]

The exchange platforms are there for use and a discount sale from a cryptocurrency should not be a reason to land is in bigger problem that we are innocent of. My uncle will always tell me to beware of cheap articles.

That is the main job of exchanges, they ease our stress of buying Bitcoin through the risk of p2p that might lead you into big trouble because no one should be trusted with your assets, and your Bitcoin savings is supposed to be your personal thing, not something everyone close to you should even know about because anyone can set you up just for money.

Instead of most of using exchanges as our wallets to save our crypto investments, used them as a marketplace where you can buy and sell your crypto coins only, and send your assets out of the exchanges to your personal wallets with immediate effects because the security of your coin lies in your hands.
Physical p2p might be the best but has nerve been something I will trust.

Exchanges are really smooth and easy  to use all they need is the first guide that's all, most exchanges have veey easy user interface to interact with, ones with easy navigations. Most people don't need any tutorials before they get used to the exchanges. I don't recommend buying Bitcoin from vendor's or p2p agents outside an exchange because only God's knows where they got those bitcoin from, it could be some stolen bitcoin that has been tracked down for a while and the next thing you just mistakenly bought them and send it to an exchange or any platform with your KYC in it, it would take long before the agencies track down and reveal you as a scammer for having part in the stolen crypto.

[BitHodlers]

Whether you know someone or not does not modify the danger of buying or selling cryptocurrencies. The various dangers involved are present regardless with whom you transact. For peer to peer transactions the most important thing is operational history. On that note, you are better off dealing with a very reputable trader than with your friends or family. You are confusing relationship with reputation.

I don't recommend buying Bitcoin from vendor's or p2p agents outside an exchange because only God's knows where they got those bitcoin from, it could be some stolen bitcoin that has been tracked down for a while and the next thing you just mistakenly bought them and send it to an exchange or any platform with your KYC in it, it would take long before the agencies track down and reveal you as a scammer for having part in the stolen crypto.

Your advice is terrible. A lot of the world is trading peer to peer or OTC every day. Were it not for P2P things, we would not even have Bitcoin to begin with. Stop recommending centralized services that are leading us to a  totalitarian nightmare.