Why You Should Avoid P2P Trades and What to Do if Your Bank Account Gets Blocked?

Discover why avoiding P2P crypto trades can safeguard your assets and learn essential steps to take if your bank account gets blocked, along with secure alternatives for off-ramping

Why You Should Avoid P2P Trades and What to Do if Your Bank Account Gets Blocked?

In the last six months, a growing number of users who have off-ramped cryptocurrency to INR have found their bank accounts frozen. This article explores why you should avoid P2P trades, what steps to take if your bank account gets blocked, and the best alternatives for off-ramping crypto securely.

Understanding P2P Crypto Off-Ramp

Peer-to-peer (P2P) crypto off-ramping allows users to convert their cryptocurrency to fiat currency directly with another person, without using centralized exchanges. These transactions typically occur through online exchanges, messaging apps, or in-person meetings. While this method offers certain conveniences, it also comes with significant risks.

The Risks of P2P Crypto Trading

While P2P crypto trading might seem like a straightforward and convenient way to convert digital assets to fiat, it carries substantial risks:

1. Money Laundering

Cybercriminals often exploit P2P platforms for laundering money. They attract unsuspecting traders with attractive commissions and use these transactions to move illicit gains.

2. Lack of KYC Verification

One of the primary issues with P2P trading is the lack of Know Your Customer (KYC) verification. This absence of proper verification processes can trap traders in illegal activities unknowingly, putting their funds at risk.

3. Bank Account Freezes

Due to the suspicious nature of some transactions, banks may freeze accounts involved in P2P trades. This can be a significant inconvenience and can result in a lengthy process to unfreeze the funds.

Steps to Take if Your Bank Account is Frozen

If your bank account is frozen due to involvement in P2P crypto trading, follow these steps to resolve the issue:

Contact Your Bank

  • Reach out to your bank to understand the reason for the freeze. Clear communication is crucial.

Gather Documentation

  • Collect all documents that can prove the legitimacy of your P2P transactions. This includes receipts, transaction details, and any correspondence with the trading parties.

Consult a Lawyer

  • It's advisable to consult with a cybercrime lawyer who can guide you through the legal process and help in presenting your case effectively.

For a detailed guide on dealing with frozen bank accounts, visit: FightBank

Alternatives to P2P for Off-Ramping Crypto

Given the risks associated with P2P trading, itโ€™s essential to consider safer alternatives for off-ramping your cryptocurrency. One such solution is Copperx Payout.

Why Choose Copperx Payout?

Copperx Payout offers a secure and seamless way to off-ramp your crypto assets, providing multiple features designed to protect your transactions and ensure smooth operations:

Deposit $USDC on Polygon and Solana

  • Copperx allows you to deposit USDC on popular blockchains, ensuring compatibility and ease of use.

Best Rates for Off-Ramping Crypto to Fiat

  • Convert your crypto assets to fiat at competitive rates, ensuring you get the most value from your transactions.

Global Reach

  • Send funds to vendors, employees, and contractors in over 50 countries, making it a versatile tool for international business.

Key Features

Partnered with FIU-India

  • Copperx Payout is partnered with a Financial Intelligence Unit (FIU) entity in India, adding an extra layer of security and compliance.

High Withdrawal Limits

  • Withdraw up to $12,000, with the possibility to increase limits through additional KYC verification.

International Remittance

  • For larger amounts, Copperx offers international remittance options.

1% TDS Deduction

  • Enjoy a low tax deduction at source (TDS) rate of just 1% on off-ramped amounts.


P2P crypto trading, while convenient, comes with significant risks, including the potential for money laundering and account freezes. By choosing secure platforms like Copperx Payout, you can protect your assets and ensure seamless off-ramping of your cryptocurrency.

Stay safe and opt for trusted alternatives to P2P trading. Start off-ramping with Copperx Payout today: Copperx Payout