Ninjastic
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Board Bitcoin Discussion
Re: Which is the best crypto exchange for P2P transactions ?
by
Minecache
on 21/10/2023, 07:57:51 UTC
Quote from: Blitzboy on Today at 07:35:44 AM
Quote from: BRINIRHA on Today at 05:57:58 AM
Quote from: fokinlipat on October 20, 2023, 02:01:59 PM
Which is the best crypto exchange for P2P transactions ?  I am looking for a good alternative to Binance P2P.
I think for p2p on centralized exchanges currently Binance is still very good. I also often use p2p services if the amount of sales or purchases I make is only small. Because usually if I sell crypto and withdraw it to my account via a local exchange in my country, I will incur quite a large fee. So I avoid it if it's a small transaction. But in fairly large transactions I prefer to use local exchange services only.

My experience in P2P transactions on Binance is also quite comfortable and safe. I havent encountered any significant problems while using it. Just choose users who have good ratings and have good reviews. and dont forget to look at the average transaction speed of these users. Because there are some users who are a little late in releasing or responding. And that can be a bit annoying.
Binance, after all, acts as an intermediary, a middleman if you will. It is important to know the difference between these two types of p2p because real p2p is decentralized, meaning that there is no one person controlling the process.

Your emphasis on user reviews and transaction speeds is commendable. But lets also talk about the problem: Binance does seem safe, but relying only on user reviews and scores may make you trust the wrong things. Its true that reviews can be skewed and that speed doesn Embarrassedt always mean reliability. Always think things through and be critical. That much attention should be paid to your hard-earned crypto.

To put it bluntly, P2P on Binance is no longer P2P in the true sense because the transaction has the intervention of a middleman and here it is Binance. But it can be said that P2P on Binance, or centralized exchanges, is still the choice of the majority of people because of convenience such as high liquidity, cheap transaction fees, and fast transactions.

If you have ever traded P2P on binance, the most effective way to choose a trader is based on reviews and ratings, there is no second way. But in the unfortunate event that your transaction has a problem, it is not a big problem if you comply with Binance's regulations. I remember they have a complaint department during the transaction so no one can scam you or take your money. Their only problem is the KYC process that many people don't like.