Custody and cash · 23 / 86
Peer-to-peer trades
A peer-to-peer trade is you and another person, plus a platform in the middle. The extra risk is the human on the other side, and the payment method they chose.
How you get robbed
They pay from a stolen bank account. The bank reverses it later. You already sent the coins. Or they send a fake screenshot of a payment and rush you to release.
The check
Release coins only when the money is in your account and the rail cannot be pulled back. A platform escrow only helps if you follow its steps and it actually holds the coins.
Chat apps are where the rush happens. Slow down when they insist on leaving the platform.
Check yourself
Is a screenshot of a bank transfer proof you were paid?
No. Screenshots are cheap to fake.
After this you can wait until a payment is really yours before you release coins.