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News & Insights/Market
Platform transactions vs. P2P transactions – what works best?

By Amber Group 07/30/2023, 3 min read time

  • A peer-to-peer service is a platform that directly connects parties to a transaction without the third-party intermediary. 
  • Peer-to-peer services can be cheaper but also entail a higher risk of fraud, price haggling, and non-responsive traders.

  • The WhaleFin platform by Amber Group is a good alternative to P2P services for its security is certified by industry leaders, and it offers fast transactions and low fees. 

 

When it comes to swapping between fiat currency and digital assets, you may consider using P2P platforms to avoid creating an account on a centralized digital asset platform and everything it entails, including KYC. 

 

As the digital asset space has considerably matured and is much more regulated than before, it may be counterintuitive to go through the hassle (and risks) of swapping assets with unknown parties, while you could do it comfortably on a certified platform.