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The outpost way is more safe if you follow some simple rules: always make the trade fully through the trading window, do not just send the keys and let the other side gift you the game. And compare the prices, use something like steamprices.com to check if it is possible to make profit by selling at that price if the game was bought in your favorite low price region, and if its not or way lower than everyone else selling at, stay away.
And if your game still got revoked, valve usually reverses the trade without a hassle.
And this 7 day lockout only happens after you accepted a trade and it went into escrow and you cancel it while its in there, it doesnt happen if you just cancel the trade.