How does P2P work and what are its advantages?

[fountain.wers]

I often see that many people use P2P to exchange money, files and even work with cryptocurrency. But I don't fully understand how it works and how it differs from regular services. Can you explain what P2P is and what its advantages are?

 

[zalert]

P2P is a system where users interact directly, without intermediaries, which makes it convenient for file sharing, financial transactions and working with cryptocurrency. Many people choose it because of the speed of transactions and low fees. Unlike centralized services, there is no single controlling body, which increases the stability of the system. You can find more information on the blog and find out - what is P2P?

 

[fountain.wers]

Sounds interesting, especially the part about lower fees. How does security work in these transactions? Are there any risks compared to centralized platforms?