The Ultimate Checklist for Safely Buying Bitcoin on Faire in 2026

Your Essential Bitcoin Buying Checklist on Faire

Faire is a platform that can facilitate peer-to-peer (P2P) transactions for various assets, including cryptocurrencies like Bitcoin. Ensuring a secure purchase requires diligence and an understanding of potential risks. This guide provides a step-by-step checklist to help you make informed decisions when buying Bitcoin.

Verifying the Seller and Listing

• ✓ Check the seller's reputation, rating, and transaction history on Faire.
• ✓ Review the listing details carefully for accuracy and completeness.
• ✓ Ensure the Bitcoin amount and price are clearly stated and align with market rates.
• ✓ Look for any seller-specific terms or conditions that may pose a risk.

Understanding Payment and Security

When transacting with Bitcoin, especially on a platform designed for traditional retail, it's crucial to be aware of payment-related scams. The 'Off-Platform Payment Extortion' scam can occur if a seller attempts to move the transaction outside of Faire's secure payment system to avoid fees or oversight, potentially leading to no Bitcoin being received after payment.

Identifying P2P Bitcoin Specific Risks

While Faire is primarily for goods, P2P crypto trading may present unique risks. Scammers might try to exploit the digital nature of Bitcoin. Be wary of 'Ghost Tracking Number Fraud' if the seller uses a tracking number for something other than the actual Bitcoin transfer, which is not applicable to digital assets but can be a similar tactic of misdirection. More relevantly, be vigilant against 'Phishing 'Retailer Inquiry' Links' which could be disguised attempts to steal your account credentials or Bitcoin wallet information.

• ✓ Be cautious of any links sent by the seller, even if they appear legitimate.
• ✓ Never share your private keys or wallet recovery phrases.
• ✓ Understand that Bitcoin transactions are irreversible once confirmed.

Leveraging Safe Trade Services for Enhanced Security

For higher-value Bitcoin purchases, we strongly recommend utilizing the Safe Trade Services Premium Plan for an added layer of security through identity verification. For transactions below $500, the Basic Plan offers a streamlined yet effective identity check.

• ✓ Utilize Safe Trade Services' ID verification for transactions above $500 (Premium Plan).
• ✓ Consider Safe Trade Services' ID verification for transactions below $500 (Basic Plan).
• ✓ Ensure the seller's verified identity matches their Faire profile.

By following this checklist and utilizing available security services, you can significantly reduce the risks associated with buying Bitcoin on Faire.