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<p>With the rise of cryptocurrency trading in recent times, there has also been a rise in the number of ways and platforms to trade. Peer-to-peer trading is among the emerging methods of trading cryptocurrency online, and when you look at the benefits it offers, it’s not hard to see why it is a top trading option. However, is it precisely safe for users and traders? With minimal platform regulation, how can users be safe with P2P transactions? Read along to find out.</p><h2 id="header-0">What Is Peer-to-Peer (P2P) Trading?</h2><p>Peer-to-peer or P2P trading is simply buying and selling crypto assets between individuals without a central platform to regulate the transaction. It is one of the most commonly used methods of trading cryptocurrencies and other digital assets. According to a report released by PayPal, in 2023 alone, almost 160 million people used mobile P2P payments.</p><p>P2P is a relatively simple process. It involves direct contact with the buyer and seller to exchange crypto assets.</p><p>No, that’s not what we’ve meant. </p><p>Source: <a href="https://giphy.com/gifs/season-11-the-simpsons-11x3-l2JdTuayDxVZeGJDG" rel="noopener noreferrer nofollow">Giphy</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/87f67d0079954b2a9f56fd94326adf65.gif" /></p><h2 id="header-1">Is Peer-to-Peer (P2P) Trading Safe?</h2><p>Online trading generally comes with risks and challenges, which also apply to P2P transactions. There have been scams and thefts, but that does not mean P2P transactions are always unsafe. In fact, many new P2P trading platforms have improved security measures to protect their users. Many platforms use fraud prevention measures such as KYC registration, identity verification, two-factor authentication, data encryption, and even escrow protection to make their platforms safer for users. Still, none of these means that P2P platforms are scam-proof.</p><h2 id="header-2">What Are Some Common Scams?</h2><p>Over the years, many different kinds of scams have been reported on different P2P platforms. Some of them include the following;</p><ol><li><strong>Fake proof of payment</strong></li></ol><p>Anyone with a good knowledge of Adobe Photoshop can create a convincing image of a successful transfer receipt, and anyone can create “receipt” text messages to notify the victim of a successful payment. Even so, it is always best to confirm receipts directly from your wallet or bank account.</p><h3 id="a-href-https-hodl-fm-peer-to-peer-risks-rel-noopener-noreferrer-nofollow-read-more-on-hodl-fm-a"><a href="https://hodl.fm/peer-to-peer-risks" rel="noopener noreferrer nofollow">READ MORE ON HODL.FM</a></h3>

How to Stay Safe in Peer-to-Peer (P2P) Trading

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