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Why Prices on Localbitcoins are CHEAP (Venmo)???!!!

Discussion in 'CryptoCurrency' started by zerkamaz, Apr 2, 2017.

  1. zerkamaz

    zerkamaz Junior Member

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    I just found on Localbitcoins few weeks ago that prices of Bitcoins when it comes to Venmo are CHEAP!!

    Some traders sell Venmo balance for $2000/BTC, others with more than normal which is weird to me +4000$/BTC, I'm not talking about newbies traders, those are pro traders with hundreds of successful traders!

    Anyone can explain this situation, and what will happen if I decide to deal with them?

    P.S: I don't have a Venmo account, I'm not from US at all, so I can't make a Legit account there!
    Localbitcoins is just an example, there are plenty of them on Paxful as well!!
     
  2. yellowcat

    yellowcat Regular Member

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    "Beware, Venmo is a reversible payment method. Escrow will not protect you as a charge back can still happen after the bitcoin are released. I have heard that it is even easier to reverse payments in Venmo than it is in Paypal.
    New user wanting to transact with a reversible method, DO NOT DO BUSINESS WITH, you will get scammed."

    Pretty much once you sell them your bitcoins they will reverse the transaction through venmo.
    They give you such a good "deal" because it attracts more folks to scam.
     
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  3. jjhost12

    jjhost12 Jr. VIP Jr. VIP

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    It is 100% a scam, all those buyers willing to pay huge markups to pay via venmo/paypal/credit card/bill pay are all scams.
     
  4. XOclif

    XOclif Newbie

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    dont sell bitcoins to anyone that is trying to buy with payment method that is reversible.I was scammed few times.Also, a lot of those scammers are playing game, they made few transactions on lower amount just to gain your trust, and than on a bigger one.Be aware
     
  5. AneaKr

    AneaKr Jr. VIP Jr. VIP

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    There are two reasons why you find really affordable sellers on localbitcoins or Paxful.

    1) they simply bought early, and are willing & able to sell cheaper than others in order to get a cash payment.
    2) they're a scammer, and this is all too common.

    I no longer use localbitcoins, it's a bit risky unless you simply need to pay cash instead of linking your bank account.
     
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