Is P2P cryotocurrency trading risky?

[Potuse]

P2P crypto trading frequently takes place between people with different degrees of expertise and understanding, which causes an elevated risk of frauds. It could have legal and regulatory issues, and it might be slower and less effective than centralized exchanges.

 

[Lens]

I would regard it as a risky venture and I wouldn't want to carry out transactions on such platforms because I'm always sceptical about carrying out financial services on these platforms.

 

[Ononivami]

Peer-to-peer cryptocurrency transaction is very risky and a lot of people have been scammed through this means which is why it is better to choose cryptocurrency exchange like a Binance.

 

[Planbizzle]

P2P cryptocurrency trading can be dangerous. While peer-to-peer trading allows traders to conduct business openly among themselves without the interference of middlemen, it may also make it simpler for malicious people to engage in phony or illicit financing activities.

P2P crypto trading frequently takes place between people with different degrees of expertise and understanding, which causes an elevated risk of frauds. It could have legal and regulatory issues, and it might be slower and less effective than centralized exchanges.

 

[Mayorla]

Peer to Peer Cryptocurrency Trading is risky but profitable. It seems to risky to deal peer to peer with people you don't know before. Most people tend to deal with Centralized exchanges than dealing via Peer-to-Peer.

 

[eLdavis]

There is no business out there or form of investment that does not have its share of risk. I have never done this before but from what i have heard it can be risky, especially where the platform you make use of is not that secure.

 

[Nomad]

If you have access to online banking services that you can use for P2P trading, there is no risk in p2p crypto trading. I have done p2p trading multiple times and I have never experienced anything bad.

 

[Connor909]

P2P trading entails transacting with people or organizations directly rather than through a centralized exchange, which increases the risk of fraud, hacking, and other security issues. Traders are more vulnerable to fraud and other illegal acts when they conduct business in secret with unidentified parties because they cannot be certain of the parties' integrity.

 

[eenya00]

I would regard it as a risky venture and I wouldn't want to carry out transactions on such platforms because I'm always sceptical about carrying out financial services on these platforms.

Every form of cryptocurrency carries a degree of risk factor and you need to be ready to take the risk before going ahead in any of the crypto currency offers but the reward is great.

 

[Ononivami]

The peer-to-peer platform is very risky if you do not choose a credible platform like binance and kucoin because those are the two peer to peer cryptocurrency platform that I have used and I can vouch for them.

 

[Yohanna]

It is always important to carry out due diligence on the peer-to-peer platform that you want to choose and you must ensure that it is credible so that you will not fall victim.