Crypto P2P (Peer-to-Peer) refers to direct transactions between individuals without intermediaries, like exchanges. It allows people to buy, sell, or trade cryptocurrencies directly with each other.
P2P crypto transactions often occur through:
1. Online platforms
2. Escrow services
3. Direct messaging apps
Importance of p2p in crypto
1. Increased in privacy
2. Lower fees i
3. Greater control
However, P2P transactions also carry risks, such as:
1. Scams
2. Fraud
3. Security concerns
To ensure safe P2P transactions:
1. Use reputable platforms
2. Verify counterparty identity
3. Utilize escrow services
4. Use verified vendors
5. Confirm your credit alert before releasing coin
6. If you are urgently in need of money, make sure the vendor is online before initiating a transaction.
7. Use a vendor with good rating and positive feedbacks.