K
Kross
Guest
Most crypto exchanges have peer to peer trading on their platforms. I know it is mostly safe as ensured by most legit crypto exchanges. But what are the likely challenges that one might face at a time in P2P exchange?
What are the likely challenges that one might encounter in P2P crypto trading?
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Some of the challenges that one might encounter in P2P crypto trading are scammers and dishonest actors of false accounts or false transactions, delay in processing transactions, lack of liquidity because of rare coins and restrictions in certain areas.
M
magnus2022
Guest
As far as am concerned, P2P is a balanced peer to peer transaction model that is near perfect. I don't see how scammers can use it to scam people. If you don't know or understand the mechanism of operation, it may appear to be easy to navigate through and scam but is near impossible. Before you start trading in P2P market. You must be verified by the cryptocurrency exchange. After the verification, you must deposit some funds like $3000 before you start trading. You can't trade morr thancthe money you have in the exchange platform.
K
Kross
Guest
I have had someone upload a fake payment proof on a peer to peer trade. I have also had to look endlessly for vendors that would complete my peer to peer transaction.
I think the common challenge that people always face with peer to peer crypto trading transactions are always very slow replies from one party of the trade. That can be really frustrating to the other party and cause tension.
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Scammers are one of the big challenges that many will face when it comes to P2P crypto trading. Unfortunately, in a world of crypto, as much as you can trust some people, there will always be those who are very clever in gaining your trust, but will, in the end, scam you.
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