Beware of off-exchange P2P transactions
John came across a P2P trader on social media boasting about successful transactions. Intrigued, John reached out to the trader via WhatsApp and negotiated a trading price that the trader agreed to. Trusting the agreement, John transferred his cryptocurrency to the trader. However, once the transfer was complete, the trader became unresponsive, leaving John with no way to recover his cryptocurrency.
This example highlight the risk of trading with unknown subjects outside of exchanges.Please try to choose an exchange to ensure safety when conducting fiat-crypto transactions.