March 1, 2022

Staying safe while p2p Trading

Staying safe while p2p Trading

How to safely trade bitcoin p2p in Lebanon?

As a first rule, if you feel uncomfortable for any reason, then do not proceed with the trade; better safe than sorry!

Choose a public place to trade, like a coffee shop, restaurant, or simply a street with a fair amount of traffic, preferably in daylight.

If you do a significant amount transaction, make sure someone else is with you to avoid getting your cash stolen. Better yet, exchange the amounts in several intervals instead of one big go.

Ask about the reputation of the person you are exchanging with, and follow your feelings.

Few recommendations for transacting using OMT

If a person named Anthony Shiller (for example) says he wants to exchange with you via OMT and that you have to send the money first, but he refuses to share contact details with you or keeps insisting on transacting fast,  trust your gut.

Please exchange phone numbers for making sure the person is legit, but this isn't necessary.
When trading via OMT, trust needs to be built first. Do you trust the person? Like in the Anthony Shiller example, does the person give out good or bad vibes? In this case, also ask about the person's reputation first, and avoid large sums of money or bitcoin. Otherwise, exchange via OMT in intervals if large sums are to be dealt with. In the case of OMT, the person sends the money and gets a number on a bill, in which they would then send you a picture of the receipt so you can pick the money at the closest location to you.

Count the cash you receive in order to avoid scams. You can first request to count the money before you send your Bitcoin.

These are a few guidelines; always verify.