NECESSARY P2P SCAM AWARENESS KNOWLEDGE

[osasshem]

We work in the crypto market to make earns meet and have what to put into savings after a period of time. On the process of this, there is always some crooks who are willing to take those earnings of ours at the most crucial time, when crossing that bridge between the crypto world and our native currency; P2P. I outline some few things to put into consideration when using P2P to help reduce the rate of losses/falling into some traps set by scammers.

THEREFORE, always;

Verify Trading Score Rating and Trading Volume
As this may be neglected, it is very important to know the rating of a vendor before kick starting a trade. In every exchange, there is always the rating of every P2P adverts, and in some exchanges (like gate.io) they suspend some accounts for some reasons, which certainly will include fraudulent activities, suspicious trading behavior, misuse of payment methods etc. It is wise to take note of whom you are trading with to avoid falling prey of scam.

Escrow is Non-Negotiable
Using a P2P without an escrow will keep you at a high jump, leaving you on a narrow escape, cause the more delays made by either the buyer or seller keeps you highly tensed. Therefore, using any platform that does not support escrow services and not recognized crypto exchanges, my broda, run ohh. Above all, always make sure you confirm the amount has arrived into your account and possibly do a small transaction before releasing your coins. Being careful is for the safety of your funds. 

Beware of Fake Proofs
This one is something we know very well. When I first heard that it is possible to receive/do fake alert, I doubted until it happened in my presence, then I knew the importance of confirming proof of payment from SMS alert and from the account balance, either checking through mobile app or through USSD Code for confirmation. No one will accuse you for confirming your balance before releasing your coins.

Avoid Anything Off-Platform Communication
I done hear plenty people way de talk of face-2-face crypto exchange, let’s talk on WhatsApp for the current transaction. This a method that is not accepted in the entire crypto community at all. This na the most risky and dangerous method of crypto exchange, cause you nor know who the person be, or waytin the person go fit do (physical exchange). This one risk fit reach the point of you losing all your crypto funds or your life at most. Then for other communication platforms, your chats no go fit de monitored by the exchange, therefore keeping you in a stranded situation if the person no make payment, urging you to release coin first. There is a reason why the crypto community is said to be decentralized.

Watch for Over payment & Refund Tricks
I never really experience this one before, but how you go tell me to refund you, say you make excess payment! E be like say the money too plenty, na make you send pass the requested amount. This particular warning na for mainly the seller, you as a seller, watch waytin you de press, cause when e done go, e no de come back.

Know Payment Method Risks
This now de go to sellers as well as buyers. Both parties de display account way de money de go into, confirming the authenticity of the account before sending de very important, cause when person say em no see alert and proof of payment de show say na same account for display, na you fit report dispute, otherwise, you are on your own oh.

Beware of Phishing & Impersonation
Always confirm your platform’s link before entering your login details, cause this na one risk way de rampant for the internet these days.

TINY SAFE TRADING ACTIONS

Activate all necessary codes/passwords for transactions within the exchange.
Some of the popular exchange way de render P2P services get different passcodes and pin to use take verify payments and even the use of fingerprint. This na for the safety of your funds. 

Enable 2FA and/or email verification code on your trading accounts.

Keep records of all communications and transactions.
This one de vital for proof of payments/communication text, so that e go de easy to identify who de at fault/fraud.

Start with small trades when dealing with new traders and use high score rating/successful trade counts to make large transactions.

Trust your instincts — If your mind no de settled with that trade/add, close the trade and look for another one.

[Charles-Tim]

Also it is good to watch out for underpayments.

Activate all necessary codes/passwords for transactions within the exchange.

I only prefer just one which is 2FA. Some exchanges may require fund password which I do not like because most of the exchange will only request for just one. I guess most people will be using passkey by now which will require just fingerprint or face unlock, but I prefer just only 2FA.

Beware of Phishing & Impersonation
Always confirm your platform’s link before entering your login details, cause this na one risk way de rampant for the internet these days.

Also if the buyer or seller are requesting for you phone number, do not give them. This is how you will see people contacting you on WhatsApp and SMS about scam investment.

[Nathrixxx]

When it comes to P2P, I think we've discussed a lot about this aspect on the forum and even on the local board here, in crypto space today, once the observed that you are in newbie and don't have the necessary information that is supposed to be informed by you, the take quick advantage of it and use it as your weakness to scam you.

The first thing you should know when going for p2p is to filter those scammers out of your advertisers, so that you have verified users and also see their completion rate in order for you to determine if they deserve to be engaged with P2P or not, also check their prices and avoid those that hike price or reduces from the normal standard exchange rate, any form of suspicious manipulation should be avoided and those merchants should be completely blocked.

[Hyphen(-)]

Indeed we have been experiencing a lotnifnp2p scams recently, the vendors are not as we thought, we have scammers among them and some beggars that are negotiating off the platform to pay you below the rate they displayed, and some of them underpay and get away with it because of some of us that are not checking it right.

Activate all necessary codes/passwords for transactions within the exchange.
Some of the popular exchange way de render P2P services get different passcodes and pin to use take verify payments and even the use of fingerprint. This na for the safety of your funds. 

Most exchanges that offer p2p service do make sure their users set passwords like trading passwords, and also payment methods so that you will have another password or pin to grant p2p transactions.

Enable 2FA and/or email verification code on your trading accounts.

This is very important, and that’s why I am even using; using authentication in form of 2FA or email verification is an added security, you have to put in the code to start your trading and also need the code tireless your coin after confirming your payment.

Keep records of all communications and transactions.
This one de vital for proof of payments/communication text, so that e go de easy to identify who de at fault/fraud.

Start with small trades when dealing with new traders and use high score rating/successful trade counts to make large transactions.

Trust your instincts — If your mind no de settled with that trade/add, close the trade and look for another one.

Always stick the price in the trade, avoid negotiating through DMs and also make sure you confirm your payment before reading your coin, don’t trust any vendor, always follow instructions because we have vendors that do add money or do beg for you to reduce the money for them by claiming that they are not making profit with the trade due to charges and so on; don’t fall for that, always follow instructions.

[Moreno233]

This is a comprehensive exposition of the P2P trading system and how to be safe, unfortunately I have ran out of smerit, this is merits deserving post and I hope our sources or anyone with sendabke merits will do the needful.  I have seen that you r post also covered P2P trades off the exchange because that is only where escrow is needed. If that is correct, then it is a no go area, P2P should never been done outside the exchange or a place where either of the sides can held accountable like this forum.

The score rating of the merchants on CEX exchanges together with their volume of trade should be enough to know how reliable they are. Those are basically what I use in chosing who to trade with amd I have not had a bad experience since I started using that.

[Bitcoin-Forever]

Learn about how p2p works before you make any exchange with a merchant or vendor, there are scammers all over the exchanges and you must be able to understand how the procedures works so that they don't cheat you at the end or even scam you to worsen the case.

Scam is everywhere and there is nothing you can do that can prevent you done what you know already and how you stand to apply the precaution as a measure to avoid scam, learn more and get more exposure in order for you not to be a victim of this fraudsters.

[Marykeller]

Don't forget to read about the bad reviews of the P2P merchant you want to trade with. Because every P2P merchant has reports about them of what they have done in the past to the person that trades with them. The good and bad reviews will help you know how to deal with them, of what you should be watchful of, if they P2P merchant request for funds, delays time, arrogant, send fake payment receipt, mark paid while they have or they deduct money.

This information given above are mostly for Bybit users who trades with their p2p merchant

[Davidvictorson]

I have a theory that some traders who are genuine can have all the positives and at some point turn around and become scammers. I use bybit alot and while most of the sellers will have the reviews and what-have-you, the moment you lose guard for a second they will scam you. By lose guard, one of the ways is that if you mistakenly click on release coin - otilor.
Then a category of potential scam p2p traders are the ones that will beg you for them to pay lower than the actual amount. They will lie and tell you how they are not making any profit and how the charges and stuff and want to pay lower...those ones are scammers.

[Xackie]

This level of scammers that operate in that P2P is quite shocking especially in exchanges like Bybit. Someone needs to  open their eyes properly and verify the kind of Merchant they want to trade with. Whenever I want to sell my coins I will make sure  I open my local bank account and verify that the money they sent has entered my account before I decide to release the coins. Sometimes I will even send 1k card to myself before I release the coin. Newbies usually fall into the hands of these scammers a lot, especially when those fake Merchants often post high   exchange rates and that kind of thing interests newbies who don't have an idea about how it works. A way to avoid this as a newbie is to check their trade history, reviews, completion rate and numbers of completion order(this is very important. I only choose a merchant who has over 3000 Completed orders and are verified). That way the chances of being scammed are low. Currently I use Gate io for my p2p , it is faster and more reliable than Bybit.

[osasshem]

I have a theory that some traders who are genuine can have all the positives and at some point turn around and become scammers. I use bybit alot and while most of the sellers will have the reviews and what-have-you, the moment you lose guard for a second they will scam you. By lose guard, one of the ways is that if you mistakenly click on release coin - otilor.
Then a category of potential scam p2p traders are the ones that will beg you for them to pay lower than the actual amount. They will lie and tell you how they are not making any profit and how the charges and stuff and want to pay lower...those ones are scammers.

Truly, I have come across this same situation before somewhere last year, 2025, when I used Bybit P2P exchange. This is regular while wanting to exchange from BTC to NGN directly, without using USDT. On the process, I saw tons of high adds showcasing, and when I tried using one, the first message I saw was "This is a negotiating add" and when he to started the negotiation, it went so low, that if I am not interested, I should leave. Then I tried another, that one was literately begging me. I just had to go to spot and sold the BTC to USDT, and simply used USDT for the P2P transaction.

[Callido]

I have a theory that some traders who are genuine can have all the positives and at some point turn around and become scammers. I use bybit alot and while most of the sellers will have the reviews and what-have-you, the moment you lose guard for a second they will scam you. By lose guard, one of the ways is that if you mistakenly click on release coin - otilor.
Then a category of potential scam p2p traders are the ones that will beg you for them to pay lower than the actual amount. They will lie and tell you how they are not making any profit and how the charges and stuff and want to pay lower...those ones are scammers.

It is a typical human nature, human beings are usually unpredictable. It is just the same with how exchanges, casinos, mixers and other service first operate for a while, after sometime of building trust and reputation, that is when they choose to exit scam.

They will not hit the target if they don't build reputation first, this is why i don't rate any of the vendors after doing P2P with them, nobody knows if they are playing cool for the maintime before hitting a target, the only way to stay safe is to remain conscious.

[Hypnotizer]

For everyone who is used to trade P2P, these are common things that are kinda mandatory to ensure you don’t get scammed on the platform.

I saw sometime ago, a buyer adding in his rule that you have to give him your WhatsApp number for the trade to proceed, like what is that…seriously some people do give their number but it’s totally wrong, everything concerning the trade should be done/discussed on the platform.

The problem of deducting a portion of your money when you want to trade with some merchant is becoming very common these days, it’s also something we should be careful about. I think the people giving them before are the ones that made them plenti these days, from asking for around 200 or 300 before now some of them do ask for about 800 and it’s totally bad..

[Johnlomape]

P2p no be something wey we supposed take simple like say people no dey lose money because of scammers they dey like scam innocent people. I don hear so many cases of people wey dey complain about how they scam them for p2p wey dey dey do and the platform wey dey use no even help them recover their money back. Na different kind of scams dey for this p2p matter and so many people don don fall and the ones wey never fall still no really understand how e dey dey painful reach when you lose money wey you supposed use do something.

[SmartCharpa]

P2P is something we need to do carefully, maybe sometimes you are in a hurry and need some cash, so you just do P2P and release the coin to the buyer without confirming the payment first, if the person does not send the exact amount, you will have yourself to blame because you didn't confirm the amount before releasing the coin.

However, unless you and the person are living under the same roof and he asks you to sell your coin for him, don't agree to any face to face transaction. Country no safe at the moment. People are missing every day, and people can still set you up for money because dem hear say you get money, them fit kidnap you. But if you notice now bots make it easier if you want to do P2P, within a second you will receive your money.