Question

If you’re not careful, it can become costly to use P2P payments. Name at least 3 ways you could LOSE money using person-to-person apps

Answer 1

P2P payment is a medium of transferring funds to purchase cryptocurrencies.

Cryptocurrencies means an electronic form of currencies with huge volatility.

Three ways by which one can lose money on the platform:

• If money are sent to the wrong bank account.

• Money sent to wrong address are irretrievable.

• Through the intelligence of scammers

In conclusion, in an attempt not to lose money, Crypto-currencies service providers introduced the P2P known as Peep-to-Peer.

Learn more about Crypto-currency here

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