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.

 

[eenya00]

P2P trading is very risky and you need to be conversant with the level of risk it entails, as you could lose all your money if you fall into the hands of dubious people.

 

[Riberet19]

I think it can be very risky and lose your money if you do it with the wrong people, I for example usually do it but only with trusted people, it is in the hands of each one in the last stay to judge with whom to do P2P Exchanges

 

[Lens]

I'm always sceptical of using the P2P platform to make transactions because most of those P2P may not be trusted to some extent and you could lose your fund.

 

[Ononivami]

The peer-to-peer cryptocurrency transaction is risky but it is better to choose a trusted cryptocurrency exchange platform like binance to execute your peer-to-peer transaction.

 

[Mayorla]

Peer-to-Peer cryptocurrency transaction is very risky, and it requires trust.
Though, It seems risky but also very profitable.

Peer-to-Peer cryptocurrency transaction is very risky, and it requires trust.
Though, It seems risky but also very profitable.

Peer-to-Peer transaction is very risky, and it requires trust.
Though, it seems risky but It is also very profitable.
Some Centralized Exchanges like Binance offer P2P service to their users depending on your country.

 

[Riberet19]

Peer-to-Peer cryptocurrency transaction is very risky, and it requires trust.
Though, It seems risky but also very profitable.

Peer-to-Peer transaction is very risky, and it requires trust.
Though, it seems risky but It is also very profitable.
Some Centralized Exchanges like Binance offer P2P service to their users depending on your country.

The risk also depends on who you really do it with, I do it with trusted acquaintances and without a doubt it is how I like to do it, without intermediaries and without extra costs, simply an exchange.

 

[Ononivami]

The risk also depends on who you really do it with, I do it with trusted acquaintances and without a doubt it is how I like to do it, without intermediaries and without extra costs, simply an exchange.

The individuals involved do not know each other in cryptocurrency peer-to-peer exchange. We are all total stranger to one another and that is where the risk lie. The good thing is that peer-to-peer platform has given us percentage score to determine the genuineness of a particular exchanger.

 

[Mayorla]

The risk also depends on who you really do it with, I do it with trusted acquaintances and without a doubt it is how I like to do it, without intermediaries and without extra costs, simply an exchange.

Yes, that is true. You can employ the use of trusted escrows. These escrows would help to bridge trust between two users. Centralized exchanges act as escrow between buyers and sellers to make this possible.

 

[Riberet19]

The individuals involved do not know each other in cryptocurrency peer-to-peer exchange. We are all total stranger to one another and that is where the risk lie. The good thing is that peer-to-peer platform has given us percentage score to determine the genuineness of a particular exchanger.

You do not have to be strange in a peer 2 peer exchange you can do it with family friends or trusted people, if you use an exchange it is clear that you are unknown but not all transactions imply that you are unknown, it depends on who you do it with and by what means

 

[eenya00]

I'm always sceptical of using the P2P platform to make transactions because most of those P2P may not be trusted to some extent and you could lose your fund.

If I decide to trade on the P2P market, my favourite platform is binance and remitano, as I like to do trade with only users that are verified as they have more to lose if they defraud me

 

[Ononivami]

If I decide to trade on the P2P market, my favourite platform is binance and remitano, as I like to do trade with only users that are verified as they have more to lose if they defraud me

This is the first time I would be hearing about remitano and I think you can explain more about the platform so that I can also explore the use of a credible peer-to-peer platform in cryptocurrency transaction

 

[Yohanna]

The P2P trading comes with high level of risk and that is why you need to be sceptical and ensure that you choose the right P2P platform but I use binance.

 

[Nomad]

If you have access to online banking and if you can confirm payment by checking your bank account in real time, P2P trading can be one of the least risky ways to trade crypto as the price does not fluctuate too much.

 

[Kennysplash]

It is not risky of you do it on a trustworthy platform. There are many cryptocurrency wallets that allow you to perform peer to peer transactions, and it is quite transparent.

 

[Ernestnari]

The risk is minimized on Binance as you can report scams activities with evidence to Binance and they can help you get back your assets if you are quick enough. The truth is that unregulated trading activities like that are risky but the risk can be minimized on platforms like Binance.

 

[Jonaville]

It is risky because you do not know whom you are trading with. Some people will also runaway with your money and it is not nice. I am always scared of cryptocurrency p2p trading.

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.

It is risky because you do not know whom you are trading with. Some people will also runaway with your money and it is not nice. I am always scared of cryptocurrency p2p trading.

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.

 

[Trey]

It could be very risky if the other party decides not to keep their end of the bargain. And it is not monitored by any regulatory agency apart from the exchange platform. That's why KYC is necessary on some platforms to track fraud.

 

[AruneBend]

I don't like it because the level of risk is way too high for me. I lost money, and I will never try it again. Some people do make money, but they do risk a lot, and frankly, I would rather not trade because of how risky it is.

 

[hastral45]

P2p crypto trading is risky and not risky. It depends upon the platform you are using. If you are using exchanger like Binance, the chances of being Scammed is null. Because you have to confirm the receipt before Binance would release the fund to the party.