I want to buy some BTC with cash locally, the seller i found says : "send BTC to your wallet. After 1 confirmation On blockchain, collector takes from the table cash."
Is this enough to be sure i will receive the bitcoin sold me? Or its better to wait for 2 confirmations?
I am not sure there is any option for cancel in payment transaction
The only option for cancelling transaction that I know for now is only wen order is being placed in an exchange for trade, and if you are not even fast enough, part of the order may have been filled already which will be difficult for it to be retracted, and I think in the case of sending payment, it would be impossible for any sender to cancel the transaction was confirmation is being done already.
It was even a risk on the part of the sender or now receiving cash first before sending BTC, most exchanges whether locally or through their online platform would collect their money first and be sure that the fiat equivalent of what the receiver is requesting for is accurate before sending the money, I guess sender just did this in order to win him to his side.