What are peer-to-peer (P2P) transactions?
In Airtm's peer-to-peer marketplace, buyers and sellers match with each other to exchange dollars in Airtm for local currency. With peer-to-peer there are less restrictions providing you with a free market rate and no cross-border transfer limits. Although peer-to-peer transactions are less widely used, they are becoming one of the easiest and most reliable ways to transfer funds. It's important to note, this process is different than traditional banks and e-wallets with automated direct transfers.
Airtm peer-to-peer transactions are fast and safe. All Airtm dollars are held in escrow, while a professional mediation team stands by to ensure funds are released to the right party.
Peer-to-peer pros: There are over 100s of payment methods available. This allows more variety when it comes to buying and selling dollars. Since there is as less interference from third parties, fewer fees are implemented on the users.
Peer-to-peer cons: It may take longer to trade on a peer-to-peer marketplace. Transfers in payment methods have to be completed before a transaction is completed. The time often varies depending on the payment method used and peer you’re trading with. Peer-to-peer marketplaces also have a steeper learning curve, as most users are used to traditional automated processes for transferring funds.