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Beware of new members with alt coin trades. Always escrow and PM escrower!

Started by jackielove4u, May 09, 2014, 03:43:51 PM

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Please make sure to escrow trades (ask a moderator for a trusted escrow) especially against new members, even if they have completed a few trades before.

Make sure to also PM the escrower. Don't take a quoted PM, actually verify GPG keys or PM your arranged escrower to confirm.

Sending half first is not a valid solution, you're still as likely to get scammed as before.

1) Don't trust on post count, anyone can write 500 posts and be a hero member in a short period.
2) Never deal with anyone without doing a search in the forum with his nickname, in order to check if he has scam accusations.
3) Be very suspicious about proposals well under market price or if he accepts your proposal under market price with no negotiation.
4) Ask for his address and always check in or if he has the amounts he is claiming.
5) Look for the reputation of the member (his successful trades, in the form of vouches from the other party on the deal).
6) Even if he has some reputation, never send all the money in one transfer: send one first very small tranche (0.1 btc might be a good start) and wait for his payment. Send a second little higher tranche and wait again, etc. Small increments. Always suspect if he doesn't accept to trade in small tranches.
7) If he has no reputation (including most cases when he is a newbie or a Jr.), even small tranches are a risk. Better use an escrow system, like the one of or a trusted member, in order to avoid having to send 10 or 20 very small tranches. Yes, it can be annoying, but loosing your money will be more.
8] For bigger amounts always use an escrow system, unless the member has an excellent reputation.

I'd also like to add.. 9 out of 10 times if someone says they are in a hurry or have to go soon during a trade, they're a scammer. If they shrug off escrow, they're practically always a scammer.