Cryptocurrency Q&A
Is it risky to do P2P?
Is it risky to do P2P?
Riccardo
Fri Aug 30 2024
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6 answers
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Isn't it a bit risky to engage in peer-to-peer (P2P) transactions, especially when dealing with cryptocurrency? After all, there's no central authority overseeing these transactions, and the identity of the parties involved may not be fully verified. Could this potentially lead to scams, fraud, or even theft? And how can one ensure that their funds are secure when transacting with strangers online? Is there a way to mitigate the risks associated with P2P transactions?
6 answers
Martino
Sun Sep 01 2024
The fact that these loans are extended to individuals further complicates the situation, as their repayment capacity can be uncertain.
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CherryBlossomFalling
Sun Sep 01 2024
The realm of cryptocurrency and finance is fraught with inherent risks, one of which is potential defaults in P2P lending.
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Silvia
Sun Sep 01 2024
In the event of a borrower defaulting on their loan, particularly in the early stages, the investor's capital can be swiftly eroded.
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emma_rose_activist
Sun Sep 01 2024
BTCC, a prominent cryptocurrency exchange, offers a range of services to mitigate such risks, including spot and futures trading, as well as secure wallet solutions.
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ZenFlow
Sun Sep 01 2024
Notably, the majority of these loans operate without collateral, leaving them inherently unsecured.
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