At LocalCoinSwap we care about our community and we do our best to make your experience in our platform the most secure and convenient. In this series of interviews, we are pleased to introduce you to several Pro Traders who choose LocalCoinSwap to do P2P trading in a safe and comfortable way. Without further due, we introduce you to Stefanny Yaya, a very popular P2P in Latin America. She has traded P2P more than $740,000 in bitcoin as a P2P trader! Today she will share with us how it all started, her experience, and some P2P trading tips. Let’s start!
1) Tell us a little about yourself and your background? How did you first get into cryptocurrency?
Hi, my name is Stefanny Yaya. I started in bitcoin in the middle of 2016 after being in the networking industry.
When cryptocurrencies arrived in Peru the furor was very high even though the vast majority of people did not know what bitcoin was. Immediately many companies came out taking advantage of Bitcoin's fame, only to disappear later.
It was in that period of time that I decided to start a business around buying and selling bitcoin. I started out selling very small amounts of bitcoin. Very small amounts! Over time I joined a P2P platform called Localbitcoin where I gained reputation and friendships for the volume it moved.
Over time I not only generate a good volume of bitcoin sales transactions but also the trust among many customers. In those 3 and a half years as a trader I made +1000 successful trades, was recognized as a Pro-Trader, and more!!
2) What encouraged you to make the leap to P2P trading?
If you ask me what encouraged me to do P2P, it was security for both the seller and the buyer. It is important to have a fair intermediary that will verify that all the data of both are correct.
3) In which countries do you mainly trade?
My main country is Peru. Here I trade with my own company when receiving payments through the platform.
4) Do you have a preferred cryptocurrency to trade and why?
Yes, my preferred cryptocurrency is bitcoin because it is the mother of all altcoins that we have today. Bitcoin has enough value and usability to buy the majority of physical and digital products in the world.
5) What payment methods do you accept when doing P2P operations and why?
My payment method is a national bank transfer. The reason is that it is fast, accessible and that any person, whether foreign or national, can have a debit card in Peru.
6) Do you have any accounting advice on how to track your operations and earnings?
My accounting advice would be to have a good professional accountant who makes the declaration to the government of your country. Lawyers as long as you need it.
Additionally. when you deposit or transfer, never release your bitcoin until you see the amount transferred in your bank account.
7) Have you had negative experiences with other platforms in the past? If so, what do you suggest traders avoid doing when trading P2P?
Yes, I have had a couple of negative experiences! I’m going to give a few examples.
The first example, let's start with one that has happened not only to me but to many other traders. It happens when scammers deliver or attach fake paid vouchers to you. They edit them, but they edit them badly, so be aware and double-check.
The second example is called a “man in the middle attack”.. I mean, they cheat a third party, using your account. Here is an explanation:
Ana contacts me (Stefanny) through a platform and tells me that she will buy $1000 in bitcoin from me. Next step Ana (The scammer) creates a fake advertisement on Facebook Marketplace (or elsewhere) to sell a mobile phone for $1000. Diego (The scammed) wants to purchase this phone so Ana provides my payment details to him. Diego then makes the deposit of $1000 to my account for the phone believing it is the account of the seller.
As a result of this process. Ana got bitcoin from me with Diego’s money and Diego was left without money or a cellphone. On the other hand, I am left with the triangulation problem because Diego then contacts his bank regarding the fraud and the transfer may be reversed from my account.
All of these above-issues can be easily avoided once you understand the risks and implement effective trading processes.
8) Why is buying and selling peer-to-peer cryptocurrencies important to you?
It is important to sell cryptocurrencies because we have an intermediary that takes care of both the seller and the buyer. However, the honest person does not always win the dispute. Just like it happened to me on LocalBitcoins. That the scammer won the dispute because of LB's terrible work. The people from LocalBitcoins think they are the only ones in the world and do not ask for sufficient requirements to make a fair decision in disputes.
9) Name a person you follow in the cryptocurrency industry?
The Spanish YouTuber “Crypto Análisis”. He speaks highly of cryptocurrencies and gives his opinion based on the events that happen with bitcoin.
10) What is the number one tip you would give to a person just starting out as a P2P merchant?
The best advice I can give for those who are starting in the world of bitcoin and other cryptocurrency trading is to start small and don't get excited about profit because there is so much scam. In addition, I would recommend that they gradually increase their sales volume and at the same time ask for all the requirements to verify that person if they do not have any trade.
The most important thing is the trust that is generated between you and the customers. Personally I prefer to earn 1% all my life to earn 10% in a single day and not see you anymore. Take it into account! Aim to build trust in your name and have a great reputation, so that no one can harm your image. There are always people who leave you a bad comment without having any reason or haters who envy your progress.
A good reputation and your word will have a value that will open the doors of the world to you if you wish and work for it. Nothing is for free. Everything costs an effort. The fact that you delay or just are starting does not mean that you will not achieve it. Be patient.
SUCCESS IN LIFE IS NOT MEASURED BY WHAT YOU ACHIEVE BUT BY THE OBSTACLES YOU OVERCOME.
Author: Stefanny Yaya
At LocalCoinSwap we want to thank Stefanny Yaya for sharing this high-quality content with the LocalCoinSwap community. Each of the authors of these articles works day by day to build a more informed Latin America about bitcoin and other cryptocurrencies.
Stefanny Yaya is a popular P2P trader Latin America. She has traded P2P more than $740,000 in bitcoin as a P2P trader! If you haven’t registered at LocalCoinSwap yet, sign up first in order to trade on LocalCoinSwap: https://localcoinswap.com/register/
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Until the next time!