Educational Post
General Tips to Protect Yourself Against Scams
Trade on reputable platforms
Choose leading P2P platforms that offer their users robust safety features. Common features include:
1 Risk management features. A platform that enforces specific requirements before buying or selling can help reduce inactive, unreliable, or low-quality advertisements. Better yet, there should be a sophisticated order-matching logic to match users with trusted traders and verified merchants only, as well as risk management algorithms to monitor suspicious activity.
Some algorithms are even optimized to limit the trading activities of potential bad actors. In addition, withdrawal limits or delays can help to protect user funds.
2 Know Your Customer (KYC) protocols. P2P platforms with KYC protocols can help beginners find reliable trading partners by enforcing user identity verification. This allows beginners to conduct trades with verified merchants with a proven track record and reliable sources of funds.
3 Escrow services. Escrow services provide a safe way for buyers and sellers to exchange goods or assets. A trusted third party — typically the P2P platform — handles the exchange of funds between transacting parties to uphold safety and fair trading.
4 Customer support. While P2P trading usually functions with no middlemen, a P2P platform’s customer support team can intervene if a user faces problems with a trade.
5 Automated payment. New automated payment methods enable P2P platforms to automatically process the release of crypto held in escrow without manual intervention. Buyers can receive their newly purchased assets instantly and sellers don’t have to check each order payment or release assets manually.
6 Block feature. The block feature allows you to block suspicious users — if you’ve had an unpleasant experience with someone, you can block that user and prevent them from trading with you again.
General Tips to Protect Yourself Against Scams
Trade on reputable platforms
Choose leading P2P platforms that offer their users robust safety features. Common features include:
1 Risk management features. A platform that enforces specific requirements before buying or selling can help reduce inactive, unreliable, or low-quality advertisements. Better yet, there should be a sophisticated order-matching logic to match users with trusted traders and verified merchants only, as well as risk management algorithms to monitor suspicious activity.
Some algorithms are even optimized to limit the trading activities of potential bad actors. In addition, withdrawal limits or delays can help to protect user funds.
2 Know Your Customer (KYC) protocols. P2P platforms with KYC protocols can help beginners find reliable trading partners by enforcing user identity verification. This allows beginners to conduct trades with verified merchants with a proven track record and reliable sources of funds.
3 Escrow services. Escrow services provide a safe way for buyers and sellers to exchange goods or assets. A trusted third party — typically the P2P platform — handles the exchange of funds between transacting parties to uphold safety and fair trading.
4 Customer support. While P2P trading usually functions with no middlemen, a P2P platform’s customer support team can intervene if a user faces problems with a trade.
5 Automated payment. New automated payment methods enable P2P platforms to automatically process the release of crypto held in escrow without manual intervention. Buyers can receive their newly purchased assets instantly and sellers don’t have to check each order payment or release assets manually.
6 Block feature. The block feature allows you to block suspicious users — if you’ve had an unpleasant experience with someone, you can block that user and prevent them from trading with you again.
Educational Post
What Are Some Common P2P Scams?
Fake proof of payment or SMS
Scammers may digitally alter receipts to convince you they have sent payment and trick you into releasing crypto to them. One example is the SMS scam where criminals forge a text message to notify the victim that they have received a payment.
How to avoid this scam: As a seller, you should only approve the transaction after checking if the payment is already in your wallet or bank account.
Chargeback fraud
A bad actor may use a chargeback feature on their chosen payment platform to reverse their payment upon receiving your assets. In many cases, they try to pay via a third-party account. Some payment methods like checks and online wallets allow for easier chargeback requests.
How to avoid this scam: Do not accept payments from third-party accounts. If it happens, raise an appeal to the platform and initiate a refund to the buyer’s account.
Wrong transfer
As with chargeback fraud, a scammer may attempt to steal your assets by contacting their bank to report an erroneous transaction and requesting that it be reversed. Some scammers may even pressure you into not reporting the incident by using scare tactics, like warning you that selling cryptocurrency is illegal.
How to avoid this scam: Don’t be intimidated by scare tactics. Systematically gather evidence, such as screenshots, of your correspondence and transaction with the criminal.
What Are Some Common P2P Scams?
Fake proof of payment or SMS
Scammers may digitally alter receipts to convince you they have sent payment and trick you into releasing crypto to them. One example is the SMS scam where criminals forge a text message to notify the victim that they have received a payment.
How to avoid this scam: As a seller, you should only approve the transaction after checking if the payment is already in your wallet or bank account.
Chargeback fraud
A bad actor may use a chargeback feature on their chosen payment platform to reverse their payment upon receiving your assets. In many cases, they try to pay via a third-party account. Some payment methods like checks and online wallets allow for easier chargeback requests.
How to avoid this scam: Do not accept payments from third-party accounts. If it happens, raise an appeal to the platform and initiate a refund to the buyer’s account.
Wrong transfer
As with chargeback fraud, a scammer may attempt to steal your assets by contacting their bank to report an erroneous transaction and requesting that it be reversed. Some scammers may even pressure you into not reporting the incident by using scare tactics, like warning you that selling cryptocurrency is illegal.
How to avoid this scam: Don’t be intimidated by scare tactics. Systematically gather evidence, such as screenshots, of your correspondence and transaction with the criminal.
Educational Post
Is P2P Trading Safe?
As with any type of trading, P2P trading has its fair share of risks, which vary depending on the exchange and its safety measures. While older exchanges faced a higher risk of theft and scams, many newer P2P trading platforms have significantly improved their security measures.
A leading P2P exchange today, for instance, typically has an escrow service, regular security updates, and a stringent KYC (among other measures) to keep users safe.
However, even with the appropriate safeguards, all trading activity comes with risks — and P2P trading is no exception.
Is P2P Trading Safe?
As with any type of trading, P2P trading has its fair share of risks, which vary depending on the exchange and its safety measures. While older exchanges faced a higher risk of theft and scams, many newer P2P trading platforms have significantly improved their security measures.
A leading P2P exchange today, for instance, typically has an escrow service, regular security updates, and a stringent KYC (among other measures) to keep users safe.
However, even with the appropriate safeguards, all trading activity comes with risks — and P2P trading is no exception.
Educational Post
What is Peer-to-Peer (P2P) trading?
Peer-to-peer (P2P) cryptocurrency trading entails buying and selling digital currencies without needing a third-party intermediary. P2P trading allows buyers and sellers to set their prices, select their trading partners, and decide when to transact. It also enables diligent and experienced traders to look for and take advantage of favorable trading conditions to suit their needs.
Crypto P2P marketplaces facilitate the direct exchange of cryptocurrencies between individual users. There is no central authority or third-party intermediary, thereby giving users more control over their funds and allowing them to protect their identity during transactions.
What is Peer-to-Peer (P2P) trading?
Peer-to-peer (P2P) cryptocurrency trading entails buying and selling digital currencies without needing a third-party intermediary. P2P trading allows buyers and sellers to set their prices, select their trading partners, and decide when to transact. It also enables diligent and experienced traders to look for and take advantage of favorable trading conditions to suit their needs.
Crypto P2P marketplaces facilitate the direct exchange of cryptocurrencies between individual users. There is no central authority or third-party intermediary, thereby giving users more control over their funds and allowing them to protect their identity during transactions.
Educational Post
A Broadening Triangle is a relatively rare triangle pattern which occurs when there is a lot of volatility in a market.
It is formed when the prices forge higher highs and lower lows consecutively.
On joining the highs and lows with lines, a diverging pattern is seen on the chart. This pattern stands for high volatility and several false breakouts.
While forming, it is difficult to predict the actual breakout from the pattern because of the diverging nature.
More over the tendency and requirement of surpassing the previous highs in the formation of the pattern, is a reason why breakout traders face a lot of stoploss triggers , trapping bulls when the previous peak is breached and bears when the previous low is breached and then the price turns back and returns into the pattern.
A Broadening Triangle is a relatively rare triangle pattern which occurs when there is a lot of volatility in a market.
It is formed when the prices forge higher highs and lower lows consecutively.
On joining the highs and lows with lines, a diverging pattern is seen on the chart. This pattern stands for high volatility and several false breakouts.
While forming, it is difficult to predict the actual breakout from the pattern because of the diverging nature.
More over the tendency and requirement of surpassing the previous highs in the formation of the pattern, is a reason why breakout traders face a lot of stoploss triggers , trapping bulls when the previous peak is breached and bears when the previous low is breached and then the price turns back and returns into the pattern.
Educational Post
What is an ascending channel?
An ascending channel (also known as a rising channel or a channel up) is a chart pattern that consists of two parallel upward-sloping lines. It occurs when a chart has higher swing highs and lower swing lows. Usually, the pattern shows that prices are in an uptrend. In this case, the pattern can be considered bullish.
Sometimes, though, an ascending channel may form within a longer-term downtrend. In this case, the pattern most often than not means a pause in the downtrend, though sometimes it is an early sign of a reversal.
A breakout below the lower bound of the channel often means that prices will continue to move lower for a while.
What is an ascending channel?
An ascending channel (also known as a rising channel or a channel up) is a chart pattern that consists of two parallel upward-sloping lines. It occurs when a chart has higher swing highs and lower swing lows. Usually, the pattern shows that prices are in an uptrend. In this case, the pattern can be considered bullish.
Sometimes, though, an ascending channel may form within a longer-term downtrend. In this case, the pattern most often than not means a pause in the downtrend, though sometimes it is an early sign of a reversal.
A breakout below the lower bound of the channel often means that prices will continue to move lower for a while.
Educational Post
What Is a Price Channel?
The term price channel refers to a signal that appears on a chart when a security's price becomes bounded between two parallel lines. The price channel may be termed horizontal, ascending, or descending depending on the direction of the trend.
Price channels are often used by traders who practice the art of technical analysis to gauge the momentum and direction of a security's price action and to identify trading signals.
The dominance of one force determines the price channel’s trending direction.
We will share more about uptrend channel and downtrend channel in next session.
What Is a Price Channel?
The term price channel refers to a signal that appears on a chart when a security's price becomes bounded between two parallel lines. The price channel may be termed horizontal, ascending, or descending depending on the direction of the trend.
Price channels are often used by traders who practice the art of technical analysis to gauge the momentum and direction of a security's price action and to identify trading signals.
The dominance of one force determines the price channel’s trending direction.
We will share more about uptrend channel and downtrend channel in next session.
Educational Post
Downtrend line
A downtrend line is a straight line drawn downward to the right that connects 2 or more high points. The second high must be lower than the first for the line to have a downward incline. Downtrend lines act as resistance and indicate that there is more supply than demand, even as the price falls. As long as prices remain below the trend line, the downtrend is considered to be intact. A break above the downtrend line indicates that a change in trend may be occurring.
Downtrend line
A downtrend line is a straight line drawn downward to the right that connects 2 or more high points. The second high must be lower than the first for the line to have a downward incline. Downtrend lines act as resistance and indicate that there is more supply than demand, even as the price falls. As long as prices remain below the trend line, the downtrend is considered to be intact. A break above the downtrend line indicates that a change in trend may be occurring.
Educational Post
Uptrend Line
An uptrend line has a positive slope and is formed by connecting two or more low points. The second low must be higher than the first for the line to have a positive slope. Note that at least three points must be connected before the line is considered to be a valid trend line.
Uptrend lines act as support and indicate that net demand (demand less supply) is increasing even as the price rises. A rising price combined with increasing demand is very bullish and shows a strong determination on the part of the buyers. As long as prices remain above the trend line, the uptrend is considered solid and intact. A break below the uptrend line indicates that net demand has weakened and a change in trend could be imminent.
Uptrend Line
An uptrend line has a positive slope and is formed by connecting two or more low points. The second low must be higher than the first for the line to have a positive slope. Note that at least three points must be connected before the line is considered to be a valid trend line.
Uptrend lines act as support and indicate that net demand (demand less supply) is increasing even as the price rises. A rising price combined with increasing demand is very bullish and shows a strong determination on the part of the buyers. As long as prices remain above the trend line, the uptrend is considered solid and intact. A break below the uptrend line indicates that net demand has weakened and a change in trend could be imminent.
Educational Post
What Is a Price Channel?
The term price channel refers to a signal that appears on a chart when a security's price becomes bounded between two parallel lines. The price channel may be termed horizontal, ascending, or descending depending on the direction of the trend.
Price channels are often used by traders who practice the art of technical analysis to gauge the momentum and direction of a security's price action and to identify trading signals.
The dominance of one force determines the price channel’s trending direction.
We will share more about uptrend channel and downtrend channel in next session.
What Is a Price Channel?
The term price channel refers to a signal that appears on a chart when a security's price becomes bounded between two parallel lines. The price channel may be termed horizontal, ascending, or descending depending on the direction of the trend.
Price channels are often used by traders who practice the art of technical analysis to gauge the momentum and direction of a security's price action and to identify trading signals.
The dominance of one force determines the price channel’s trending direction.
We will share more about uptrend channel and downtrend channel in next session.
❤1
Educational Post
What Is a Trendline?
Trendlines are easily recognizable lines that traders draw on charts to connect a series of prices together or show some data's best fit. The resulting line is then used to give the trader a good idea of the direction in which an investment's value might move.
Trendlines are a visual representation of support and resistance in any time frame. They show direction and speed of price, and also describe patterns during periods of price contraction.
What Is a Trendline?
Trendlines are easily recognizable lines that traders draw on charts to connect a series of prices together or show some data's best fit. The resulting line is then used to give the trader a good idea of the direction in which an investment's value might move.
Trendlines are a visual representation of support and resistance in any time frame. They show direction and speed of price, and also describe patterns during periods of price contraction.
Enough for today guys 😁. Keep inviting more people join our group and channel for more crypto insights and trading tips ✅
Links: 👇
✅ Telegram Channel:👇 https://t.me/trusted_drops
✅ Telegram group:👇
https://t.me/leontechtz
✅ Blog:👇
https://leontechtz.blogspot.com
✅ YouTube:👇
https://youtube.com/leontechnology
✅ Twitter:👇
https://twitter.com/leontechtz
Links: 👇
✅ Telegram Channel:👇 https://t.me/trusted_drops
✅ Telegram group:👇
https://t.me/leontechtz
✅ Blog:👇
https://leontechtz.blogspot.com
✅ YouTube:👇
https://youtube.com/leontechnology
✅ Twitter:👇
https://twitter.com/leontechtz
LEON TECHNOLOGY pinned «Enough for today guys 😁. Keep inviting more people join our group and channel for more crypto insights and trading tips ✅ Links: 👇 ✅ Telegram Channel:👇 https://t.me/trusted_drops ✅ Telegram group:👇 https://t.me/leontechtz ✅ Blog:👇 https://leontechtz.blogspot.com…»
🚀 Airdrop: Coinhouse Exchange
💰 Value: 5,000 random winners will receive $4 $CH each & 1,000 FCFS will receive 0.5 $USDT each
🏆 Winners: 5,000 random, 1,000 FCFS winners
👥 Top 20 Referrals:
Top 1: 100 $USDT
Top 2: 50 $USDT
Top 3: 40 $USDT
Top 4-10: $30 $USDT each
Top 11-20: 10 USDT each
📅 End Date: 23rd April, 2023 9AM (UTC)
🏦 Distribution Date: 1 week after
Talk with the Telegram Bot: 👇
https://t.me/CoinhouseAirdropbot?start=r08030725111
📃 Information
Coinhouse Exchange is the first Cryptocurrency Exchange using AI technology.
Disclaimer: Please do your own research before joining to any airdrops project, also airdrop is 100% free.
💰 Value: 5,000 random winners will receive $4 $CH each & 1,000 FCFS will receive 0.5 $USDT each
🏆 Winners: 5,000 random, 1,000 FCFS winners
👥 Top 20 Referrals:
Top 1: 100 $USDT
Top 2: 50 $USDT
Top 3: 40 $USDT
Top 4-10: $30 $USDT each
Top 11-20: 10 USDT each
📅 End Date: 23rd April, 2023 9AM (UTC)
🏦 Distribution Date: 1 week after
Talk with the Telegram Bot: 👇
https://t.me/CoinhouseAirdropbot?start=r08030725111
📃 Information
Coinhouse Exchange is the first Cryptocurrency Exchange using AI technology.
Disclaimer: Please do your own research before joining to any airdrops project, also airdrop is 100% free.
LEON TECHNOLOGY pinned «🚀 Airdrop: Coinhouse Exchange 💰 Value: 5,000 random winners will receive $4 $CH each & 1,000 FCFS will receive 0.5 $USDT each 🏆 Winners: 5,000 random, 1,000 FCFS winners 👥 Top 20 Referrals: Top 1: 100 $USDT Top 2: 50 $USDT Top 3: 40 $USDT Top 4-10: $30 $USDT…»
LEON TECHNOLOGY
🚀 Airdrop: Coinhouse Exchange 💰 Value: 5,000 random winners will receive $4 $CH each & 1,000 FCFS will receive 0.5 $USDT each 🏆 Winners: 5,000 random, 1,000 FCFS winners 👥 Top 20 Referrals: Top 1: 100 $USDT Top 2: 50 $USDT Top 3: 40 $USDT Top 4-10: $30 $USDT…
Never ignore exchanges airdrops. Sign up now
This is for all Binance users*
*Use only Binance address and follow the instructions*
https://www.catly.io/mobile/#/pages/cat?rid=657720
FOLLOW THE PROCESS 👇🏻👇🏻
1. Register using Gmail
2. CLAIM at the top right corner & Enter the USDT BEP20 Address from Binance
3. Wait for the USDT to be sent & check the balance that was sent. Then you will be told to enter the balance that was sent
4. Enter the last 4 digit of the uSDT they sent 📤 to your Binance, for example if they send 0.001818 Then you input 1818 ✅DONE goes to Catly's 500$ stake balance
N.B the 500CATLY given to you by the system will be staked Automatically and it will be generating profit for u daily till the official Launch 🤝🤝🤝 🛑 Only the BEP20 address on Binance can work. It's very simple, make sure you read all the steps! GOOD LUCK!!!
*Use only Binance address and follow the instructions*
https://www.catly.io/mobile/#/pages/cat?rid=657720
FOLLOW THE PROCESS 👇🏻👇🏻
1. Register using Gmail
2. CLAIM at the top right corner & Enter the USDT BEP20 Address from Binance
3. Wait for the USDT to be sent & check the balance that was sent. Then you will be told to enter the balance that was sent
4. Enter the last 4 digit of the uSDT they sent 📤 to your Binance, for example if they send 0.001818 Then you input 1818 ✅DONE goes to Catly's 500$ stake balance
N.B the 500CATLY given to you by the system will be staked Automatically and it will be generating profit for u daily till the official Launch 🤝🤝🤝 🛑 Only the BEP20 address on Binance can work. It's very simple, make sure you read all the steps! GOOD LUCK!!!
LEON TECHNOLOGY pinned «This is for all Binance users* *Use only Binance address and follow the instructions* https://www.catly.io/mobile/#/pages/cat?rid=657720 FOLLOW THE PROCESS 👇🏻👇🏻 1. Register using Gmail 2. CLAIM at the top right corner & Enter the USDT BEP20 Address…»