With the existence of various cryptocurrencies such as Bitcoin, Altcoin, there is a huge rise in the number of people who perform trading. This has, in turn, resulted in a large number of startups to emerge. But the question is, can these startups resolve the issues with security? Can investors perform instant trading? Can anonymity of users being concerned?
Yes, there is plenty of question revolving around! Here comes a solution for these queries in the name of the peer exchange. The wording Peer to Peer Exchange has been in existence for the recent days.
Wondering how it could resolve? Go ahead to know more!
What is P2p Exchange? How it differs from Centralized Exchanges?
Cryptocurrency Exchanges are the online platforms which enable the investors to exchange once cryptocurrency for the other. These Exchanges are basically classified into two types:
- Centralized Exchanges
- Decentralized Exchanges
When it comes to Centralized Exchanges, it carries out the trade between two parties with a middleman between. This is being considered a time-consuming strategy since it has multiple steps involved. The third-party in the middle will be responsible for matching the trades for both buyer and seller. It is being recorded in the trade book.
Often, the purchaser is being required to submit legal documentation to verify the identity before the transactions are executing. Users can perform trading at a fixed price in Centralised Exchanges. Moreover, a percentage of charge is taken from, while the trading is being performed.
On the other hand, peer to peer lending platform works completely different. In simple words, peer to peer represents “person-to-person”. Instead of matching the trades, this platform matches the people who make orders. Once the matching buyers and sellers are being found, the exchange software doesn’t execute the trade immediately. Rather, it connects the buyer and seller and enables them to set their own terms such as price, exchange rate, etc.
There are no hidden charges involved in these exchanges for both buyer and seller. It may usually range between 0% to 0.7%. Added, p2p cryptocurrency exchange allows both buyer and seller to interact even when no transactions are going on.
DO YOU KNOW? THE PAST HAS INFLUENCED THE PRESENT & FUTURE
If you turn the pages of history, we were with no choice but to deal with a person with whom we wanted to trade! Yes, we were bargaining directly with those people.
The thing I’m stressing here is there was no such middleman on intermediator to perform trading in the ancient times.
Yes, history has again repeated in the form of peer to peer bitcoin exchange platform.
Once humans were visible online, people could easily connect with each other to make deals and remain digitized.
These peer to peer p2p evolved with the existence of the cryptocurrencies. Online Crypto Exchanges such as BitStamp, Kraken have been fulfilling the trade for bitcoin and other cryptocurrencies.
So, why it is important to have a p2p trading platform? Go ahead!
Importance of Peer Exchange
This decentralized exchange can be much beneficial for the following set of reasons:
- Less Trading Charges
Unlike centralized Exchanges, peer to peer bitcoin exchange charge a minimal percentage. Since the exchanges are completely operated by the people, there are no such high trading charges involved.
- Security
Peer to Peer Bitcoin Trading Software does not hold the funds for their users. They connect the traders and make the deals directly. Therefore, security is highly leveraged. Since no third-party is being involved, it makes the trading process safer and secured.
- Privacy
In the case of Centralized exchanges, it would ask for sign up and should provide personal and legal details to get started. Personal details include email, phone number, and some identity proofs such as Passport. But in Bitcoin P2P exchange script you don’t need to fill anything.
- Government Intrudence
In Peer to Peer Bitcoin exchange, they are practically invulnerable to government regulations. This is because there is no middle authority involved in trading. Therefore, traders are free to trade anywhere regardless of local or global customers.
- Free to Select Cryptocurrencies
The investors don’t just need to stop with Bitcoin in p2p exchange script. They can trade with a variety of cryptocurrencies that are available. It includes Bitcoin, Ethereum, Litecoin, Ripple, Monero, etc.
Future of Peer to Peer lending platform
The year 2019 is already a year for p2p cryptocurrency exchange. The reason is they have already started solving the issues with Centralized Exchanges. The p2p cryptocurrency exchange script would definitely solve the issue of user-interface and make an aesthetic platform for trading. Experts suggest the future of Peer to Peer Exchange would solve the existing problems with centralized.
If you are interested in any of these professional P2P Exchange development services for your new or existing business, request a quote or contact cryptocurrency development company for additional information.
Here are the 4 platforms which believe that it will have a decentralized future:
- BitSquare.
- Coinffeine.
- BitHalo.
- Open Bazaar.
Overall, a 100% peer exchange would improve the user-friendliness. Though experts suggest Speed as a downfall factor, this is happening since every transaction in the blockchain should be taken into account! Therefore, enhancing the speed with p2p crypto exchange script will be one of the future! Added, the exchange will encompass advanced trading features for making it more user-friendly.
Moreover, companies such as Binance, Stellar will get behind the concept of p2p bitcoin exchange script soon. It is quite likely that the idea will stick. Once the general awareness is spread all around, it will lead to massive growth in crypto space. The thing is users have to remain familiarized with the concept so that they would shift to this exchange platform.
Thus, peer to peer crypto exchange is being considered to be the future of the crypto industry!
To Close
Peer to Peer Bitcoin exchange will definitely benefit the investors in the future years without any doubts! Therefore, this would be the right time if you are planning to move towards this exchange!
We at Coinsclone, have delivered a handful number of projects to the clients. We would enhance factors such as Speed and User-friendliness. With our peer to peer p2p, you are being leveraged of high-end functionality and no limits on withdrawal & deposits!