Practical access.
WHAT THE ROUTES ARE
Exchanges supporting local currency Peer-to-peer trading platforms Over-the-counter services Payment providers offering conversion
WHAT PEER-TO-PEER PLATFORMS PROVIDE
Direct trading between individuals, with the platform holding assets in escrow.
WHY THEY MATTER HERE
They function where direct banking routes are restricted.
WHAT ESCROW PROVIDES
Assets held until payment is confirmed.
WHAT TO VERIFY BEFORE RELEASING
That funds have actually cleared in your account, not merely that a transfer was claimed.
WHY
Reversed or fraudulent payments are a common attack.
WHAT TO BE CAREFUL WITH
Payments from third-party accounts Requests to move off the platform Buyers or sellers with no history Prices far better than the market
WHY OFF-PLATFORM REQUESTS
They remove the escrow protection entirely.
WHAT RISKS EXIST BEYOND FRAUD
Receiving funds later traced to crime Bank accounts frozen as a result
WHAT THAT MEANS
Trading with unverified counterparties carries risk to your banking relationships.
WHAT TO ESTABLISH
The current regulatory position on these activities, which has changed more than once and continues to develop. Verify directly rather than relying on any summary.
WHAT TO KEEP
Records of every transaction, for tax and for explanation.
