[Crypto] Your Thoughts on P2P Network for Indians

J-S-T

J-S-T

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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
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&

WazirX P2P Transfer:
https://medium.com/wazirx/revealing...a-after-the-rbi-ban-using-wazirx-fe7094a88bf9
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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.
 
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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.
 
dhoff said:
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.
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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.
 
J-S-T said:
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.
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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.
 
dhoff said:
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.
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Oh, I was under the impression that you need to meet people in person. I thought Localbitcoin works like OLX but for crypto.
 
J-S-T said:
Oh, I was under the impression that you need to meet people in person. I thought Localbitcoin works like OLX but for crypto.
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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.
 
krishnaverma said:
Looks interesting but I hope that the upcoming ban is lifted by courts.
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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.
 
krishnaverma said:
Looks interesting but I hope that the upcoming ban is lifted by courts.
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in the dreams only when judiciary and govt is two different things we can expect something different ,post 2014 its all the same
 
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