Are there any disadvantages of P2P Crypto Exchanges

raman

I have been trading in regular exchanges but the process of transferring money is very hectic in those. I recently came to know about P2P exchanges but I cam concerned about their safety. Are there any disadvantages of trading crypto in P2P exchanges?

vishnu

Everything has its own advantages and disadvantages. P2P trading is suffering from some issues such as scams, incomplete transactions, account freezing by police, and several other issues of similar nature.

However, on the positive side, there are benefits such as the ability to buy and sell at the desired price. No need to pay hefty exchange fees.

sourav

P2P trading has several disadvantages because it is basically an unregulated market. If you are new to crypto, you will face a lot of trouble because several times, the buyer or seller just takes the crypto and never pays the money and vice versa. It is very difficult to identify crypto dealers who are trustable.

vishnu

P2P is not a crypto exchange. It is just a platform where buyers and sellers meet. Unlike regular exchanges which are responsible for delivery of crypto or cash, P2P platforms have no responsibility in case you are cheated upon.