Crypto trading in Remitano and Localbitcions ! Do you think it’s safe?
Hello Friends, as you are aware that due to ongoing issues with RBI’s decisions, there is a FUD in Indian market. Indian banks will soon stop its transactions with Indian Crypto exchanges, like Zebpay, Koinex, etc. as per RBI Guidelines. Due to this situation, peoples have started moving in Peer to Peer crypto trading.
But do you think that Peer to Peer trading like on famous Peer to Peer platform like Remitano and Localbitcoins are really safe? Let me share you an incident which had happened on Remitano on February 2018.
There was a trader who had an Current Account with ICICI bank and at the time of account opening he informed bank that he is a crypto trader and does trading in Zebpay and Remitano. One day he did a traded with a person in Remitano, he sold BTC worth Rs. 2,79,000/- (INR). The trade was done in pieces and the payment was also received by him in multiple transactions. After receiving the amount, he confirmed in Remitano that he received the payment and BTC was released to the buyer by Remitano after his confirmation.
Now here is the climax, Buyer claimed in his bank that his account was hacked by this person (Seller) and he been cheated him. Then BTC seller’s account was freeze by ICICI bank and all the money has been blocked which was received by him from this trade. He had filed a complaint in his bank regarding this with all the information/proof, but he has to go through all these hazels and pain. I am not sure about next if he was able to successfully claim the amount or not. But this has created doubt in my mind that can I trade safely in Peer To Peer platform like in Localbitcions or Remitano.
What you think about this, please comment. Attached below is the snapshot of the application filed by the seller in his ICICI bank.
It will take back india so we need to unite and we have to oppose RBI
@cryptoloverindia, fingers crossed I haven't encountered any such issue with Localbitcoins. I normally see sellers and buyers rating and their feedback and then trade.
Very bad, Indian Bank Sucks
✅ @cryptoloverindia, I gave you an upvote on your post! Please give me a follow and I will give you a follow in return and possible future votes!
Thank you in advance!
I just hope this doesn't happen. Crypto Ban would lead disastrous effects on Indian Trading Market. But I heard that Indian Gov is in favor of Bitcoins! Let's just hope for the best.
@rajmehta3007, Yes, I am very much positive on this. But my community people started trading between each other and that could lead to fraud, blackmoney, etc. Hope, India Govt. Understand this. :)
@moneyguruu, Sir please throw some of your valuable views on this. Is Localbitcoins / Remitano safe platform for selling or buying BTC. Your feedback will be appreciated. Thanks!
india is far behind in modern technology..... indian government needs to think once again
i hope you that does not happen.it is decided in 3rd july by indian goverment.
Nobody can stop Cryptocurrency. Its the future. Help grow each other. https://steemit.com/mgsc/@navesumar/respect-women-you-are-nothing-without-them
@cryptoloverindia The indian bitcoin exchanges have requested the RBI to remove the blanket ban, saying the regulator should instead enforce it only on firms violating the norms