Quote from: Churchillvv on November 11, 2024, 01:04:36 PM

Quote from: Igebotz on November 11, 2024, 11:51:26 AM

Quote from: Churchillvv on October 31, 2024, 12:50:58 AM

I could remember a sad story that was shared in the forum about a guy who was attacked during a physical trade and I believe that should serve as enough lesson for use not to accept such option as it's never a good option and shouldn't be even tried.

You self supposed know say nobody wey get enough sense go gree trade such physical trade even though say the rate too good except say na person you know already offline.

Imagine saying you want trade a $1000 dollar to naira with the current price na very big risk to carry such money self dey waka for both the vendor and the seller.

Knowing the person is not enough reason to trade your coins for physical cash, what's stopping him from sending the money through bank transaction if the money is legal. Most of the vendors offering physical cash trade for your coins are kidnappers, Money launderers trying to wash their money clean.

Perhaps I have someone that I know very well, my secondary class mate whose a merchant on bybit we don't live too far from each other here in this city. Knowing him from grass root sometimes I do trade with him for cash sometimes he would just bring it to me. This kind of physical transaction can still be accepted for me if only I know what he person just as my home boy who is now a merchant.

even though you've known the person from Adam, who does physical transaction on Cash in this time? So if i want to carry out a trading of $100, I will take the physical cash from him and go source out ways of transferring back to my account or try to spend it all out in cash? I can never try that kind of thing.

We are living in an unsafe time that the closest person you know can even betray you. It's not that he can't give you the money oh, he will definitely give you the money since you already know his details but the implication is that if he has an evil intention, he can set you up because he knows you have some crypto or that you've made a transaction with him and you already have some quantity of fiat with you.

I can't carry out trading with someone that uses that as his preferable payment option. I don't know how it works when you want to release the coin if you're dealing with a complete stranger but for that to work, you have to meet that person in a set out location before releasing the coin to him and that's another form of trying out an unsafe act knowing that your phone and all your crypto asset can get stolen on that same spot.