P2P question

[Mpamaegbu]

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That’s why you see most of them have many bank accounts details, you can never have be an arbitrage trader without having multiple accounts mostly fintechs because aside the daily limit of a thing there is sometimes network issue that can prevent one from using a certain bank and you need to actually have alternatives.

You hardly go wrong or apprehensive and frustrated with Fintech banks. Only on a few occasions did I use traditional banks for my P2P. On those occasions, I had to delay confirmation because it took time for cash to reflect in my account.

About when merchants say they hit their daily limit, if I get to read that in their T&C that they will turn to a company/business account; I don't deal with them. Any account that doesn't have the same registered name as the one on the exchange is a third party account to me. It doesn't matter how they want to explain it, including the supposed CAC registration proof. I cancel.

I do have a good daily profit back then from this micro-medium transactions. The only problem is it’s time consuming checking frequently sms notifications for pending orders.

I don't think that's an issue anymore, except you don't know how to go about it. They do have automated systems now that take care of transactions. It's done in seconds. I just had a deal done a few minutes ago. The buyer made payment in less than five seconds from when the order was placed and I signed off release of token to them within a minute.

Perhaps you can consider going back to it if that was the only issue why you left it.

[Asiska02]

So, they are buying at a lesser price and selling above the price they bought, for a 1 to 5 trades they might not make a huge profit but as they do huge volume of trades per day, their small profits grows big.

This should definitely be the perfect way they operate, if not they won’t stay in the business for this long without them earning from it. For someone who has no idea about it, the rise and fall in the exchange rate will look like it is really affecting them so much that they don’t earn a good profit from p2p ads. But what I see here is that, if they’ve bought a coin at a low price and the exchange rate of that coin to fiat increases, they get to sell it an higher price much more than them just adding little figures to how much they’ve bought it earlier. The market will do surely affect them sometimes but doesn’t looks like it affects them much more than it favors them. The rise in the number of p2p ads merchants pushes us to the narrative of it being a profitable means of income.

[uchegod-21]

P2P trading is just like every other business that one needs to put in some amount of serioness and efforts to get profits. Apart from just buying at lower rates and selling at higher rates, the traders must put in efforts to complete more trades than their numerous competitors in the market. More completed trades equals more profits. People will get attracted to the service if the trades confirm and release coins faster (which is what most customers want) and also resolve conflicts professionally. Risks management is another important aspect of these kind of business. Once everything is put in place, there will be more consistent profits than losses.

[Alphakilo]

Are there P2P users here? I am talking about users that are creating buy and sell P2P ads on crypto exchanges to make money. All I think is that they are using arbitrage to make money but which can be very wrong.

I have heard from someone that know someone making money from P2P but I did not ask question further because he is not the one that is making the money from the P2P but someone that he knows.

How are P2P users making money from trading?


Please, do not post if you are not creating P2P ads on crypto exchanges.

I have allowed my interest in creating ads in exchanges become almost like a fetish and did try it out once or twice, but I didn't stick to such kind of trading because I can't be in the monitor for long while other task I engage in lay dormant, hence why I do so occasionally.

However, P2P users make money by taking significant risk than meets the eyes and it could involve not knowing when a money is from a fraudulent account or when a dispute could cause temporary account freeze which limits potential profit or when bank limits restrict transfer limits.

Beyond this, making money requires several genius tactics like rounding off kobo to the nearest whole number or more focus on turnovers rather than margins.

This being said makes me conclude that arbitrage trading is a slow and more risky option of method for average traders to rely on if they intend to make good potential profit or returns.

[vanesha]

It should be arbitrage, nothing else. For example, a price dispute between national and international fiat currencies, or crypto coins to national currencies. The price difference is certainly quite significant. We can see this in the buy and sell sections, where we see a price difference of a few cents if we sell USDT to our national currency. Another advantage might be their better name. If they are indeed a P2P service provider, they shouldn't just offer it on a specific exchange; they should also be available on social media.

[Emitdama]

Man.... the margin profit competition will be very fierce and there is always that guy who is willing to work overtime for 2 cents as a P2P merchant. If you think you got the edge that you can profit, sure just try it out.
Otherwise, try to look at the P2P market and calculate the margin profit first from the most used merchant.

This isn't just about a profit if what they will only earn is like that small (2 cents) but there should be genuine here, willingness, passion, or interest, on why someone will still do such a business. But, for someone who deals with margin trades, is p2p the only way to obtain coins before they start a trade? But if yes and then there will be a surge due to competition, then that is a good thing for those who are planning or are already on this niche/business. That should make them earn more and not 2 cents or small amounts anymore .

Don't expect it to become a sudden side hustle because it will be a lot of work.

Except if someone already has the idea on how it is done but is that really hard than simply buying and selling a crypto coin? But if it is hard, then it can be a main job now, not a side hustle anymore. It can be worth it or not worth it depending on how much we can earn.

[Hamza2424]

Are there P2P users here? I am talking about users that are creating buy and sell P2P ads on crypto exchanges to make money. All I think is that they are using arbitrage to make money but which can be very wrong.

I have heard from someone that know someone making money from P2P but I did not ask question further because he is not the one that is making the money from the P2P but someone that he knows.

How are P2P users making money from trading?

I once started it, but it did not work for me. As it turns out, you have to be active and respond within minutes, but if you are busy doing something else, you can get negatives. Haha, the case with me was a funny one. I did it a few times, but that one time, I forgot about the deal, and after some hours, I remembered it and it was too late. The other party had already acted haha.

Anyway, besides giving proper time, you also need a lot of money. Making money is easy here, although you have to be prepared for any difficulties, like receiving high AML fiat that usually takes some time and can get your accounts blocked.

The answer to your question is simple bro. You buy a coin or must have fiat—whatever you are selling or buying. You have to wait for the market to increase or decrease depending on what you are doing and buy or sell in that range. Getting orders is not that hard, but new accounts usually grow slower because they are new and people do not trust them easily.

[Findingnemo]

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I do have a good daily profit back then from this micro-medium transactions. The only problem is it’s time consuming checking frequently sms notifications for pending orders.

I don't think that's an issue anymore, except you don't know how to go about it. They do have automated systems now that take care of transactions. It's done in seconds. I just had a deal done a few minutes ago. The buyer made payment in less than five seconds from when the order was placed and I signed off release of token to them within a minute.

Perhaps you can consider going back to it if that was the only issue why you left it.

You mean the automated bots that check out the bank details and make the payments? I saw some of the expert traders were using them in Paxful but they were like dealing with thousands of trades everyday and I did like one or two at max so I never did any research about these automated system that handled the p2p trade deals.

Even if we have the way to automate things, the competition on the market makes it difficult to trade with any margin difference.