The Growing Risks of P2P Exchanges and How to Avoid Them

The Bank of Italy has published a report highlighting the growing popularity of P2P exchanges, which the authors describe as "crime-as-a-service." The report explains that with P2P exchanges, crime organizers no longer need to cover the financial tracks of their illicit activities themselves; instead, P2P brokers and other market participants handle that for them.

As someone who closely follows cryptocurrency market trends and engages with both professionals and enthusiasts, I agree that the P2P exchange segment is increasingly being overtaken by fraudsters. The risk of encountering "dirty money" has grown so high that honest market players are being forced out.

However, there’s a catch. Those who read the Bank of Italy's report might associate cryptocurrency with crime, but after speaking with participants in P2P exchanges, I have a different association: fiat money = crime. In crypto-to-fiat exchanges, the risk of encountering "dirty" fiat funds is significantly higher than receiving cryptocurrency of criminal origin.

At Rabbit Swap, I focus on staying within the cryptocurrency ecosystem and avoid dealing with crypto-to-fiat exchanges. I recommend you do the same. More and more services are now allowing you to use cryptocurrencies to pay for goods and services - no need for fiat money!

And if you hold assets in a cryptocurrency not supported by your payment provider, you can always exchange one cryptocurrency for another at the best rates on our platform: rabbit.io.