How P2P crypto trading work

18 Oct 2022

P2P trading platforms facilitate trades by connecting buyers and sellers. Users must keep their money in a separate digital wallet under the platform's management and pay a tiny commission for each trade that is made.
P2P exchanges are sometimes compared to online markets like Craigslist or Facebook Marketplace since they connect buyers and sellers of cryptocurrencies. Normally, both buyers and sellers can browse cryptocurrency ads or post their own.

The majority of P2P exchanges include a feedback or rating system to safeguard all parties involved in the transaction, adding an extra layer of security. For instance, you can't sell Bitcoin on social media since it wouldn't be secure if you met someone there who was interested in buying it.

Because they are not P2P platforms, it is challenging to build confidence on sites like Twitter or Facebook Marketplace. It is impossible to predict if the buyer will actually pay for the bitcoin after getting it.
The benefit of using a P2P network, however, is that you may research a user's reputation and ratings before transacting with them.

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to Tete


No comments yet.
Most relevant comments are displayed, so some may have been filtered out.