Peer to peer applications or simply P2P apps are those that you can download for free over the Internet. This kind of program allows users to conduct secure and cheap transactions without much involvement on their part. Since they are free to download, they also come with limited features and resources. However, if you will try to look at the bright side of these programs, then you would realize that these little extras could give you more benefits than what you have so far. Here are some of them.
First off, these apps protect our privacy. As you may already know, most people today are eager to trade personal and confidential information online. These apps also help us to do just that by masking our identity and location. What this means is that we are not constantly reminded about our activities on the Internet and are able to go about our daily business without worrying about anyone stealing our identity.
We are also saved from wasting time. Since we only communicate with people we trust, we can better plan out our days and activities. Since these apps are free, there is no need to hire a personal assistant or spend money on travel expenses to see someone we love. Instead, we only need to check our email and make quick transactions to send money or share music and videos. And since we can control who can and cannot send us money, it becomes safe to share what we really need.
Finally, these peer to peer programs help us to build strong social networks. It is hard being one of the millions of people affected by the world’s economic crisis. Because we all have access to the same P2P programs, we can work together to find ways to make money faster and at the same time save money. As a result, we become more efficient in our spending habits and stop wasting money. The result is a stronger and more stable economy.
However, despite the many advantages it offers, this app may cause certain disadvantages for some users. To begin with, it requires a user to download the mobile app, install it, and accept user authorization before they can start transacting money. Then, users need to go to a specific website where they can perform the actual transactions. These apps are not necessarily 100% safe because hackers could also gain access to our financial information. But as most people would say, it’s always better to be safe than sorry.
Another disadvantage of P2P is the need to share too much personal and financial data. This could affect not only our finances but also our privacy. Thus, we could be monitored or even robbed by hackers. It is safer to use peer to peer payment programs that do not require us to divulge any of our financial information. Also, we should take note that not all these apps are created equally.
There are a number of apps that allow us to make quick transactions without going through the hassle of downloading and installing them. These apps are called mobile wallets. They allow us to transact using a secured network that operates like the Internet. Transactions are processed immediately after we enter the verification code sent by the app. Most of these apps are very similar to the credit card or PayPal systems so users do not have to learn any new technology.
The good thing about P2P systems is that they allow us to use the money we already have in a more secure way. Transactions are usually safe, fast, and convenient. And because we can use cash from anywhere in the world, we are spared from having to carry large sums of money. Instead, we can use small amounts of cash that will not make us fear being overdrawn. Thus, we are able to have more cash on hand and use it for smaller but more important transactions such as paying for goods and services and making payments online.