Peer-to-peer (P2P) trading in cryptocurrency allows users to buy and sell assets directly without intermediaries. While convenient, this method is also vulnerable to scams. One common scam involves fraudsters sending fake payment confirmations or reversing transactions after receiving crypto. Some scammers use stolen identities or manipulate escrow systems to steal funds.
To protect yourself, always use reputable platforms with secure escrow services. Never release crypto before verifying full payment, and avoid off-platform communication. It’s also wise to conduct small test transactions when dealing with new users.
As P2P trading continues to grow, so do the risks. Staying informed, cautious, and using platforms with solid reputations are key to avoiding scams. Always double-check user reviews, transaction history, and take your time—being careful is better than being sorry in the world of crypto.
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