Quote from: Hyphen(-) on August 28, 2024, 10:41:25 PM

To buy Bitcoin as a beginner will be better through peer to peer transactions where you can just get the Bitcoin through any p2p platform be it centralized exchanges or decentralized exchanges. As a newbie if you have already learned about almost all the basic protocols and knowledge about Bitcoin, Bitcoin transactions, addresses, and how to protect your private key, you can just buy with any p2p platform. Centralized exchanges are better with this because I used one to purchase my Bitcoin but I don’t leave the Bitcoin in there, I do send it out immediately to my wallet for safety.
I don’t trust centralized exchanges with my Bitcoin, but I use them whenever I wanted fiat and when I wanted to trade, my asset’s safety is impotant, and I can’t held anyone responsible of any exchange get hacked or scammed.

Everyone has their own thoughts and ideas, and keeping security in mind, everyone uses their own private wallets, but in my opinion, Binance is quite trusted and it is better to use the spot market for it because when we buy BTC through P2P, it costs more because the price of BTC on Binance spot market is lower than what is being offered on P2P.

Therefore, I think that new entrants should first learn and understand well about coins and trading. When they become fully aware of the market and learn everything, then they should buy coins from the market, rather than doing P2P, because on P2P, they will always get a higher price compared to the market.

There are also concerns about fraud and scams through P2P. There are a lot of scam cases coming out where people are scammed through P2P trades on centralized and decentralized exchanges. Scammers use fake payment receipts to do that by opening disputes and doing everything they can to get funds without paying anything, and it sometimes works out for them.