Post
Topic
Board Bitcoin Discussion
Re: How safe are physical exchanges in your neighborhood.
by
dothebeats
on 17/08/2023, 11:58:34 UTC
I believe  the topic speaks volume for itself as it is already self explanatory.
This question was born out of a real life experience  where a petty trader was publicly  harassed by some uniformed security  personnels claiming  to be some police  officers and after some investigations the security  personnels claimed that the woman aided some criminal  activities  as well as some internet fraud simply because she made her private exchanges public and the government as some point also frowns  at the use of bitcoin  in my country.

Now my worries is that, this singular act has driven alot of fear to some low key bitcoin holders in my neighborhood  even myself and there are shops I hope in town that operate physical  exchanges.

~Do you think those dealers are safe?
~And what's the fate  of physical  cryptocurrency exchanges(r) in your country?

Let's  discuss
Personally I never used physical locations to buy bitcoin and to be honest I don't think I would ever do it simply because it means that whoever is there in that moment will know you own some crypto. Maybe you bought $10, maybe you bought 1 bitcoin, who knows, in any case others don't know and they may think you own a lot of bitcoin so, government aside, there is also a personal safety issue.
I agree with you and I am the same. I am very uninterested in physical exchanges or any personal transaction regarding crypto. Not only is it unsafe for me, it is also unsafe for the one I am transacting with. Moreover, it is very hard to trust people especially when it comes to financial transactions. I would rather do everything online where I have the means to stay under the radar and keep my identity hidden by being as anonymous as I can. There is still risk doing that but not as much as doing physical transactions and exchanges.