Bitcoin exchange is something that requires a level of trust between buyers and sellers, especially in the age of the internet where everyone can hide under an anonymous name. Places like Nairaland Forum, may seem like an excellent place to buy bitcoin in Nigeria. However, if you want to buy bitcoin with Naira, you have to be aware of the signs of someone potentially trying to scam you. Unfortunately, there is no way to be 100% protected. But if you follow this guideline, you can be partially protected against potential scammers. The bitcoin is a high value currency, you should learn how to start trading it.

Buy bitcoin with Naira safely

An important thing to take into consideration is to know whether or not the seller is a trusted one or not. It's extremely difficult to know this at these times when trusted sellers suddenly go rogue without warning or prior signs you could suspect. By looking at the history of a seller you can see if previous buyers have been satisfied with the seller or if there have been disputes with the person. All these should not be a worry if you're already trading p2p exchange on pexbank's marketplace.

Another thing that can be done to verify if the seller is trustworthy is asking in Naria. If you get at least 5 people to vouch for a specific seller, you can be guaranteed that the seller will complete the exchange instead of running away with your funds. Be warned, a team of scammers plot conspired deceit by vouching for each other and sharing the spoil after a scam transaction has been completed. Outside of that, there are things to keep in mind whenever dealing with an e-currency exchanger.

1. Scammers don't usually write too detailed profiles.
2. Scammers will offer you over the top trades that look too good to be real. Always ask yourself if an exchange looks too good to be real. If the answer is yes, chances are you are dealing with a scammer.
3. Google the number provided by the seller. If the number gives a different location that the one the seller is providing, hesitate to continue any transaction with that person.
4. Profiles unusually have a low number of posts and e-currency exchangers are always in a hurry to complete the transaction.
5. Block your number immediately after buying bitcoin in Naira.
6. They will send money from bank accounts different than the name they are providing. This is the MITM technique and you must always double-check the names given.
7. They have several posts about being scammed themselves. Even though, some of those stories are from real people who got scammed, don’t take every story as real.
8. They claim to not have a Naira account to protect themselves.
9. They engage in fair exchanges before increasing the amount traded to find someone to scam. So make sure the seller is offering is roughly the same one the seller always offers.
10. They try to hide under religious names and use religious words to make someone lower their guard.

The best and easiest way to prevent a scam is by using a 100% trusted bitcoin seller, unless they are reaping you apart with their high exchange deals. Another option is to use ESCROW regardless of whether the seller is trusted or not. Pexbank is an excellent choice for escrow. And, as always, obtain as much information and as many vouching as possible before engaging in the buying or selling of bitcoin in Naira. But you could save yourself all these troubles by signing up to pexbank absolutely free today. http://ng.pexbank.com

Source: https://ng.pexbank.com/2017/04/20/scam-tactics-how-not-to-be-scammed-with-bitcoin-exchange/

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