[Crypto] Your Thoughts on P2P Network for Indians

[J-S-T]

There is Tension all around in india for people dealing in Crypto. As July 5th nears, Indian Exchanges are coming up with Work arounds.

Koinex Loop:

https://medium.com/koinex-crunch/in...ustful-token-transaction-network-2efbbd183bd3

&

WazirX P2P Transfer:

https://medium.com/wazirx/revealing...a-after-the-rbi-ban-using-wazirx-fe7094a88bf9

Let us take a sigh of relief and discuss if this will be a success.

Note: Zebpay is yet to come up with something like this. Being a biggest Indian Exchange, i expect them to come up with something even bigger.

 

[dhoff]

Does LocalBitcoin and the other LocalAlternatives (LocalEthereum... LocalMonero...) work on India? I don't see why you couldn't use these already available P2P services.

 

[J-S-T]

Does LocalBitcoin and the other LocalAlternatives (LocalEthereum... LocalMonero...) work on India? I don't see why you couldn't use these already available P2P services.

Localbitcoin is somewhat Risky in my opinion. Kidnapping and Ransom are a thing in India. I have seen few cases of Kidnapping and theft of People have bitcoin.

 

[dhoff]

Localbitcoin is somewhat Risky in my opinion. Kidnapping and Ransom are a thing in India. I have seen few cases of Kidnapping and theft of People have bitcoin.

These websites have multiple online options like PayPal, bank transfer, etc. Every time I need to buy bitcoin I use LocalBitcoin and I never met anyone in person to execute a trade in my life. It's not because the name is "Local" that it means to meet people personally. It just means it's P2P.

 

[J-S-T]

These websites have multiple online options like PayPal, bank transfer, etc. Every time I need to buy bitcoin I use LocalBitcoin and I never met anyone in person to execute a trade in my life. It's not because the name is "Local" that it means to meet people personally. It just means it's P2P.

Oh, I was under the impression that you need to meet people in person. I thought Localbitcoin works like OLX but for crypto.

 

[awesomewebsites]

Looks interesting but I hope that the upcoming ban is lifted by courts.

 

[dhoff]

Oh, I was under the impression that you need to meet people in person. I thought Localbitcoin works like OLX but for crypto.

I feel you. I agree that the name "Local" doesn't really help. Many people think it's just for trading by meeting people in person, but it's not like that at all. I don't have the data right now but I remember that something like <1% of the trades in LocalBitcoin were actually in person. Their volume is decent for a P2P exchange and people trade mainly online. No need to wait for regional solutions, just use these international ones and trade safe.

 

[J-S-T]

Looks interesting but I hope that the upcoming ban is lifted by courts.

In case that happens, Bitcoin will again start trading at 5-10% Premium of international market. Those were the days. Hope to see them back.

 

[Deleted member 283687]

Looks interesting but I hope that the upcoming ban is lifted by courts.

in the dreams only when judiciary and govt is two different things we can expect something different ,post 2014 its all the same