Recently tried to buy some bitcoin on a P2P crypto platform (LocalCoinSwap). If you don't know how it works, they match you to a seller, escrow the coins, and release the bitcoin after money is transferred), and I found that there's basically 0 reasonable traders at the moment.

I found the only offers are 100,000 baht+ cash in person (sounds like a good way to get robbed) or double digit markups.

I've been investing periodically over the years, and only 6-8 years ago the P2P crypto platforms were brimming in Thailand. You could choose among dozens of other traders with lots of feedback and close trades in minutes with a bank transfer.

Has the market died? Or are the banks / cops shutting these traders down because they have too much volume on their Thai bank accounts?

Would love some more stories

Strange. Plenty of offers to buy there at the moment.

14 hours ago, wimpy said:

Strange. Plenty of offers to buy there at the moment.

I see more today than I did the other day, but whoa, it's slim pickins'

Top3 that come back for me in the list:

45% above market

53% above market

67% above market

There's a guy advertising 1% above market but has 0 feedback and says he accepts 3rd party trades (high risk of getting a bank account frozen)

Ahh, I found one at 20% above market but he's done <$3500 in volume on the platform.

Yeah, I guess there are a "lot" but these are mafia deals unless you're trying to launder cash

The P2P market used to be pretty efficient, the premium just a few % over market. Now... this. That can only happen because demand either dried up or regulation killed everybody.

My point was that there are plenty of offers to buy btc with bank transfer. It is just the offers to sell btc that are sparse.