Do you use exchanges that don't have escrow for P2P transactions?

F

Fidelia

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• #1

Many crypto exchange platforms offer escrow services for it's peer to peer platform. That's to ensure that peer to peer transactions are secure and devoid of scam activities.

Would you feel comfortable using a crypto exchange without an escrow service for P2P exchange? Have you ever used one of such before?

 

N

Nite

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I wouldn't feel comfortable using a crypto exchange without an escrow service for peer to peer transactions. The escrow service adds an extra layer of security and protection for both parties involved in the transaction.

 

F

Fidelia

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• #3

I think all major exchanges have an escrow feature. Any crypto exchange that has P2P without an escrow is not ready to have me as a customer.

 

eldavis

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Though I don't use these services, but I doubt I would be comfortable using such services because am at risk. The rate at which people get scammed these days is pretty alarming, it's best I do things the safe way.

 

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King Belieal

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In all the crypto exchanges I have used, whenever a trade occurs, the seller has to confirm that the transaction is successful before the exchange releases the sold currency to the buyer.

 

Golden9

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I would not use a p2p cryptocurrency exchange without an escrow. That is a haven for scammers and even the administration themselves are scammers.

 

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Without an escrow service in place, there is a high risk of falling victim to scams on a p2p cryptocurrency exchange.

 

nomad

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I do P2P transaction only on Binance and Binance offers excrow service. I have never used any platform for p2p trading that does not have escrow service

 

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King Belieal

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• May 10, 2024

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One of the things I consider before deciding on a crypto exchange to use is the availability of escrow services. It helps to protect individuals involved in transactions.

 

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Bisolami

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• #10

eldavis said:

Though I don't use these services, but I doubt I would be comfortable using such services because am at risk. The rate at which people get scammed these days is pretty alarming, it's best I do things the safe way.

Click to expand...

People get scammed a lot these days so we have to be very careful when it comes exchanging crypto for money no matter how little the money may be

 

cherry123

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I can do without escrow with small exchanges thst involves small amount of money but not with big funds.

 

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King Belieal

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That automatically means that Decentralized Exchanges are a no for me. With those kinds of platforms, everything is done at your own risk. For the sanity of me, I love the assurance of centralized exchanges with escrow.

 

You

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• Jul 10, 2024

• #13

No, I don't use exchanges without escrow for P2P transactions. I only use reputable exchanges that offer escrow services, like Binance or Kraken, to guarantee a smooth and secure trading experience. No escrow, no deal.

 

Starmix

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It's not advisable doing a transaction like that we might be screwed. It's best to inquire from others.

 

Kera

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Any exchange that has a P2P should have an escrow. It serves to allow users to trade their crypto with assurance. Only DEXs don't have escrows.

 

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Rubz

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I have never made use of an exchange that do not have escrow for p2p ttransactions. I do not think i would ever be comfortable with making use of such exchange.

 

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• #17

I would always prefer to use exchanges that offer escrow services for P2P transactions to minimize any risk.

 

IB D

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Any exchange that doesn't offer escrow is a very high risk exchange. I can't even look at such to consider using it.

 

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• Aug 24, 2024

• #19

Without escrow, there is a much higher risk of scams , fraud , and loss of funds.

 

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Min George

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• #20

Most of the nefarious activities involving crypto is done on exchanges without escrow. It is a dog eat dog world there.