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The CryptoCurrency Thread


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1 hour ago, blitzkreiig said:

So apps like CoinSwitch Kuber and Coin DCX not worth exploring.

From my limited research, Coinswitch seems to have hidden charges during buying and selling and reviewed negatively. Have to check Coin DCX.

But if anyone using these apps in the forum, would like to hear some thoughts as well

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21 hours ago, KunjanPSD said:

But that option isn't secure/reliable?

What if the seller backs out after payment?

I've used p2p transaction a number of times. Suppose if you place a buy order, the amount of crypto you want to purchase will be blocked in seller's account. Even if the seller backs out after receiving the money, you can raise a claim and upload screenshots of transaction. Your crypto will be automatically released. 

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3 hours ago, TheGothamChampion said:

I've used p2p transaction a number of times. Suppose if you place a buy order, the amount of crypto you want to purchase will be blocked in seller's account. Even if the seller backs out after receiving the money, you can raise a claim and upload screenshots of transaction. Your crypto will be automatically released. 

Good to hear. Where was this? Binance or WazirX or any other exchange? 

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Just now, TheGothamChampion said:

Sellers can list any of the payment options like upi, paytm, or imps. You need to make payment to any of these payment methods to purchase crypto.

Oh yes, I've noticed that. I mean what did you choose? Your preferred method of payment. 

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On 11/13/2021 at 2:00 PM, TheGothamChampion said:

I've used p2p transaction a number of times. Suppose if you place a buy order, the amount of crypto you want to purchase will be blocked in seller's account. Even if the seller backs out after receiving the money, you can raise a claim and upload screenshots of transaction. Your crypto will be automatically released. 

Hey , can you tell the ideal way to purchase BTC in P2P?

 

should we get USDT First and then purchase BTC using that or buy directly BTC if a seller is accepting INR ?

 

I tried my hand with 10k in p2p  on binance by directly getting BTC. After its in my wallet, the received BTC amount in funding wallet is showing as equivalent to ~9000 INR . Is this correct?  

 

If I purchase USDT and then BTC, are the charges similar?

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2 hours ago, Pacifier said:

Hey , can you tell the ideal way to purchase BTC in P2P?

 

should we get USDT First and then purchase BTC using that or buy directly BTC if a seller is accepting INR ?

 

I tried my hand with 10k in p2p  on binance by directly getting BTC. After its in my wallet, the received BTC amount in funding wallet is showing as equivalent to ~9000 INR . Is this correct?  

 

If I purchase USDT and then BTC, are the charges similar?

Crypto is sold at premium in India. If price of usdt is 74 then it'll available for 78-79 Inr in p2p portal. 

 

What I do is I buy extra quantity of BUSD and whenever there's a dip in BTC and ETH, the price of BUSD rises up. I then sell the extra quantity purchased which brings down the cost of BUSD. 

 

Buying BTC directly is a better option because you need exchange fees as well in case you purchase BTC via BUSD or USDT.

Edited by TheGothamChampion
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