What is peer to peer in the cryptocurrency market?

[Saraali]

Peer to peer (P2P) is a sort of trading which we can straightforwardly sell or purchase Cryptocurrencies from the merchant. For this situation, there's no contribution of a third individual for the exchanges and consequently their is no additional charge. Notwithstanding, the platform wherein you are exchanging may cut a little segment of the profit. With this method of selling or buying, you may not sell or purchase crypto coins dependent on market price however you can sell it as per your own set value, you may make it less expensive so it is purchased quick, though you can get it less expensive so to sell higher. Consequently this is a truly productive plan of action. Anyway you must be cognizant.

The benefit of Peer-to-Peer:

• Transaction Censorship
• Lower charges
• Privacy
• Security

I think p2p is important for security purpose it is the verification of mobile number and mail which is more reliable and no attacker easily attack on your account and make it secure.

 

[Ehizzy1]

Peer 2 peer is a situation where buyers and sellers exchange assets making use of escrow means or a straight transaction means , without making use of escrow and others for transaction process i think ,,so this is the mode most people love using if the government place restriction on depositing and others i think

 

[Mostee501]

Peer to peer in cryptocurrency markets is the transactions between two people either buying or selling different digital coins,it has lots of benefits such as getting the equivalent of the digital currency in your local bank account.

 

[MercySmith]

Peer to peer for me is all about transferring coin from one person to another. This is more secure when it's done on the same platform

 

[Shigobad2020]

Defining Peer to peer simply means the exchange of crypto currency or digital access via the use of distribution network, it allows buye and seller to trade between themselves without the need of a third party or intermediary.

 

[Grant]

That's the nature of Peer-to-peer. You trade/work with other people on a network, and connect with one another. With cryptocurrency, I assume it's to exchange funds, make deals and so on.

The crypto market can only work with peer to peer I think. Since there is no official company regulating it all, it has to be done via people. Or so that's how I see it. I could be totally wrong for all we know.

 

[Kelly5]

The meaning of peer to peer in the cryptocurrencies market to simply put it, is the process where by members buy or sell to each other fiat money or other cryptocurrencies assets for the other while the exchange stands as escrow for the transaction

 

[Eodine]

Peer to peer is an option for withdrawal in crypto currency that allows member to member donation to withdraw and deposit into the diverse crypto currency coin.

 

[alberello75]

I'm sorry. But since with the peer to peer system, there is no intermediary, how could we have security with that case, without a mediator who can provide us with a guarantee? Forgive me but I did not understand this detail.
Thankk you.

 

[btaliat]

To be honest, I prefer selling on third party platform to using peer to peer platform. Peer to peer to platform is open to fraud and if one is not that conversant with it, one should not even involve in it.

 

[GIFTMICHAEL]

Peer to peer trading is between two individuals negotiating to come to agree on a set price of a coin. Instead of selling directly the P2P becomes the alternative.

 

[Senator]

A simple illustration of how this works in relation to the cryptocurrency market is this. I have USDT and you want to buy my USDT, we use the cryptocurrency exchange as our escrow. You send me fiat equivalent to my bank account, I release the USDT held in the escrow to you automatically

 

[Ehizzy1]

One major benefit i noticed quite well about peer 2 peer is the transaction charges which is very low,this makes me love using the option more than other payment option

 

[tyrim88]

Peer to peer (P2P) is a sort of trading which we can straightforwardly sell or purchase Cryptocurrencies from the merchant. For this situation, there's no contribution of a third individual for the exchanges and consequently their is no additional charge. Notwithstanding, the platform wherein you are exchanging may cut a little segment of the profit. With this method of selling or buying, you may not sell or purchase crypto coins dependent on market price however you can sell it as per your own set value, you may make it less expensive so it is purchased quick, though you can get it less expensive so to sell higher. Consequently this is a truly productive plan of action. Anyway you must be cognizant.

The benefit of Peer-to-Peer:

• Transaction Censorship
• Lower charges
• Privacy
• Security

The p2p method is actually a means of selling your cryptocurrency directly to members of the same platform and the platform will have to stand and use an escrow method to ensure that a seller has receive his money befor releasing the crypto to the buyer.This method is safer and rudeces a lot of stress.

 

[Snazzy001]

I have been hearing individuals making use of these statements times without number but never cared to know what it is. But from what I assumed it to be, it could be a market place for cryptocurrency where you can easily transfer it to your own private bank account

 

[Niftyyem]

P2P trading in cryptocurrencies is a solution to the problems of many who may for one reason or another couldn't not sell their coins to receive payments in their accounts directly from the exchanges and rather go through other individuals.

 

[eLdavis]

Back then when i use to hear and seeing persons talking about P2P or peer to peer i used to wonder what it ment, until i came to understand that its a transaction between two users either buying or selling.

 

[akinlolu99]

I did not know what that meant till recently i wanted to sell my coin in luno to doge that was when i knew what it was because i sole it on the platform then got my money in naira but sending to account became an issue and but the time i spoke to friends they explained it to me and i was able to understand how it works bu then it was late so i had to convert it back

 

[Setho]

The peer-to-peer transaction is a future in cryptocurrency that allows you to order send or receive cryptocurrency from another individual without the involvement of the exchanger.

 

[kayode10]

Peer-to-peer make it pretty much easier to sell cryptocurrency in a country where there is a ban on bitcoin and other assets. But someone needs to be very careful as lot of scammers are engaging in peer-to-peer of cryptocurrency right now.