When was the last time you bought your favourite cryptocurrency off an exchange? Now, think about all the fees, the KYC bottlenecks, and if you’re from certain parts of the world, the legal hoops you had to jump to make that possible. The truth is, buying or trading on a traditional exchange, however simple it might sound, can get seriously complicated. What with new crypto-regulations popping up and the market itself getting all murkier by the day, it’s hard to stay on top of the situation if you’re a crypto enthusiast; more so when you’re just getting used to the entire system. The good news is you don’t always have to go the way of traditional exchanges. There’s such a thing as a p2p exchange, and in this piece, we’ll see how it makes your life as a crypto trader all the easier.
1- P2P Exchanges: Providing you with the whole package
For a short premier, if you’re new – a p2p (short for peer-to-peer) exchange or auction site is a decentralized exchange setup where buyers and sellers transact directly instead of going through a central exchange entity. In traditional exchange setups, a central entity is in charge of curating the list of coins sold on the exchange. And because they’re just one entity in charge of managing and processing all the exchange transactions, the coins listed for trading are often limited.
A p2p exchange, on the other hand, places everything in the hands of its users. While there’s an entity in the sense of who started and runs the exchange, A p2p trading site’s job description is mainly limited to providing escrow services and mediating disputes. Users from the world overcome on the platform with different kinds of coins to simply set up shop and sell whatever they have to whoever’s willing to buy. This setup allows p2p exchanges to float an insanely large crypto market with a multitude of cryptocurrencies addressing the needs of every individual crypto trader.
2- Resolute dispute mediation
Most p2p platforms and crypto auction sites offer top tier dispute mediation services for when issues arise in a trade. If you’re a regular crypto-trader, you would know that crypto trades/transactions don’t always pan out smoothly. A dispute mediation team provides that extra bit of cover and protection to safeguard your funds when things go awry. This is an especially important protection to have for buyers and sellers when dealing with auctions on a crypto auction site since the transacting mechanism in these cases is not exactly set in stone.
3- The best deals, whether you’re a seller or a buyer
Crypto auction sites operate an auction-based buying and selling process and what that means in sum is – the best buyers find the best sellers of their coins and vice versa. Instead of conforming to the predetermined prices, you’d find on traditional exchanges, crypto auction sites run a genuinely free market where the price of every asset is determined by both buyers and sellers acting in concert.
Get started today With P2P Exchanges
The combination of the best crypto deals, a fully transparent auction mechanism, dispute resolution and many other advantages all stack up to make p2p exchanges and crypto auction sites the future of cryptocurrency trading. Whether you’re a beginner or experienced crypto trader, it’s an option that’s too good to ignore, and even better, getting started is as easy as apple pie.
Most p2p exchanges, unlike their counterpart traditional exchanges, don’t require minimum deposits, KYCs or any of that stuff. It’s simple, fun, and, if you’re savvy enough, profitable plug and play. If and when you go p2p, you’re hooking up on unparallel flexibility and all-around worry-free cryptocurrency trading.
Also read: A Review of The Best P2P Crypto Exchanges