The post A Guide To Safely Engage With Peer-to-Peer (P2P) Trading appeared on BitcoinEthereumNews.com.

Amid the growing attention to financial privacy, peer-to-peer (P2P) trading is getting very popular nowadays. However, just like the other types of trading, peer-to-peer trading also has its own risks, and knowing the respective risks permits the traders to shield themselves against likely losses. Hence, there are some notable precautions that the traders can take while dealing with the peer-to-peer trading. What Is Peer-to-Peer (P2P) Trading? Peer-to-peer (P2P) trading in cryptocurrency takes into account the selling and buying of digital assets without requiring a 3rd-party mediator. P2P trading permits sellers and buyers to determine their prices, choose trading partners, as well as decide the exact time of the transaction. It also permits experienced and diligent traders to identify and leverage supportive trading settings to fulfill their requirements. Marketplaces for P2P crypto trading enable direct cryptocurrency exchange between individual consumers. A key benefit of this type of trading is that no centralized authority controls this trading. In addition to this, the traders are also not dependent on a 3rd-party intermediary. Thereby, the consumers are provided with more control over the funds thereof. Their identities also remain protected during P2P transfers. However, despite the above-mentioned benefits of the P2P crypto trading, it also has some risks associated with it. Particularly, the most common of them take into account fake payment proof, wrong transactions, man-in-the-middle attacks, chargeback frauds, phishing, and triangulation scams. Common Scams in P2P Crypto Trading Fake SMS or Payment Proofs To defraud the victims in P2P trading, scammers may alter payment receipts by digital means. With this, they attempt to convince their targets about the execution of the transfer. A key example in this respect takes into account the SMS scam. In this scam, the fraudsters create a fake message to notify their targets the payment has been received by…

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Filed under: News - @ May 22, 2025 8:24 am