What is P2P Exchange?
So, let’s first know what is the difference between P2P with decentralized exchanges or traditional centralized, then the biggest difference seen is that the traders who come in have direct contact with the exchanging party. In this, in conjunction with P2P exchanges, traders browse through various vendors to choose the rate of their own choice. It does not require any kind of KYC, as it has low fees and yet exchanges happen and there are times when payments are made on a large scale that accepts these methods. This method is especially liked by large investors who know how to use it properly as they know that buying on P2P exchanges is done only “over the counter”. It is simple i.e. it turns out that orders are not placed in the open market. It makes it clear that peer-to-peer exchanges do not require centralization. It is not dependent or stored on any fund exchange, but we have to note that the platform is used only for other users who are successful in carrying out transactions of the predetermined value. You should know that the direct and anonymous nature of P2P crypto transactions has given rise to the false myth that scams, fraud, and illegal activity are the only things the exchange is considered good enough for. But that’s not the case at all because P2P offers so many more benefits that you won’t find on any traditional exchanges. If you are interested in bitcoin trading, learn to trade bitcoin on your android device.
Payment Type
Payment methods are governed by different exchanges and in some cases even by sellers. Sellers get the option of choosing P2P exchanges as to when and which payment methods they want to accept. Some may go with centralized exchanges such as credit or debit cards, bank transfers, or payment methods such as crypto. “If we talk briefly about business and the introduction of blockchain technologies into it, then it is definitely necessary to look towards the creation a P2P payment app, since this type of payment is most often found on the market and is therefore in demand”, – says Slava Vaniukov, expert and CEO of Softermii. Others may also accept alternative methods such as gift cards, seller PayPal, and rewards points, etc. And not only that but also services and goods.
Best Cryptocurrency P2P Exchange
Paxful
Paxful is considered to be one of the most popular and largest peer-to-peer exchanges in the market today. The platform has seen over 300+ different payment methods such as Gift Cards, PayPal, Reward Points, Western Union, and not only that but also real assets. Of course, all these payments are offered through Paxful but that does not mean that all these are available. There are some payment methods for this for which the seller has to be always ready. Do you know that Paxful exchange was started in 2015 and till now around 4.8 million users have been added to it?
Bisque
Bisq is considered very easy to explain as it is not only referred to as a P2P exchange but also as a decentralized exchange. You will first be asked to download one of their software and then you should be able to run it, only then you will be considered able to trade it on the exchange. To make it simpler all you need to know is that you have to send an amount through it. It is certainly seen that this leads some people to worry because the institution is believed to have a lot of authority.
