Tips and advices
As a seller, do not authorize the transaction until you have received payment confirmation If you’re a selling cryptocurrencies in exchange for fiat, it’s critical to double-check the payment before releasing the cryptocurrency from escrow. Always double-check that the money has been received. You should not rely on the buyer’s evidence. This is because con artists may present fictitious proof of payment. Only release the crypto when you have confirmed that the payment has been made to your bank account.
Always keep in-trade dialogues going Conversations should be kept within the confines of the communication tools provided by the platform. If the buyer sends money to an account other than the one provided by the seller, the seller can easily block the transaction and file a fake dispute alleging that the buyer did not pay. PearDAO allows any user to submit an appeal to the dispute handling nodes who have been verified and approved by the team. Unlike in traditional centralized exchanges, there will be more than 3 people to handle the trading dispute, they will collect all information needed from the traders and identify the scammer. The process and results will be totally transparent and available on-chain.
Always look into the reputation of the seller or buyer Always examine a seller’s or buyer’s reputation and feedback scores before dealing with them. P2P exchanges like Pear welcome new users every day, so there are plenty of new traders with positive feedback scores. However, it is safer to deal with a trader who has a long track record of successful transactions. PearDAO is currently implementing the trust score system which will reflect the user’s historical performance on-chain. This will allow users to easily identify the more promising traders.
Always conduct kyc verification after an order has been made Lastly, Always ask for the buyer/seller’s KYC information and recent bank statements Always ask for the buyer or seller’s KYC information before making any trade and transaction with anyone! While we do not keep any KYC information with us, users can request for KYC verification while contacting each. If not, always check for their recent bank statements to make sure that there is no suspicious inflow of fiat transactions. This is done to prevent trading with illegal sources of money.
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