Part 2/6:

Peer-to-peer (P2P) exchanges can either be decentralized or centralized. These platforms provide an avenue for users to buy Monero directly with fiat currency, typically through methods like cash or payment applications (such as Zelle or Cash App).

Advantages:

• No KYC, ensuring privacy.

• Direct transactions with sellers.

Disadvantages:

• Decentralized exchanges like Bisq require users to have cryptocurrency before purchasing Monero. Furthermore, users must deposit Bitcoin as a security measure, creating barriers for newcomers.

A notable mention is Haveno, a newer platform that emerged as a fork of Bisq. While it offers similar functionality focusing on Monero transactions, it also requires deposits in Monero, which can deter users unfamiliar with the asset.