Features & Benefits of Peer to Peer Exchange
The User Success Method
When people talk about the two types of cryptocurrency exchanges, they often mean decentralized and centralized.
Nowadays, they might be referring to peer to peer (p2p) and regular.
What is a Peer to Peer Exchange?
A peer to peer exchange is one that has been built to serve the very purpose of bitcoin’s creation: to facilitate the transfer of crypto between holders of cryptocurrency.
Rather than anonymously matching buy and sell orders like in regular exchanges, or transferring files from many to one like in the world of BitTorrent, this p2p actually refers to one-on-one activity between users.
Peer to Peer Exchanges allow the users to receive a small amount of information about the person they are exchanging with. This information could include:
- Their wallet address
- Their username
- Location
- IP Address
- More
This can be useful for, for example, Hodlers looking to meet other Hodlers in their area.
Due to the open nature of the blockchain, this makes the trust element of peer to peer exchanges all the more paramount, both for you and the other party.
Benefits of a Peer to Peer Exchange:
Perhaps the most important benefits of p2p exchanges are the lack of fees or commissions and the fact that you hold your cryptocurrency the whole time — no depositing means you won’t suffer if the exchange is hacked.
P2P platforms act as an Escrow but you remain in control of your crypto and your privacy.
The lack of KYC (know your customer) and AML (anti-money laundering) processes may cause some privacy concerns, but you’re able to compensate for that in other ways.
P2P exchanges have arisen naturally to fill the void where retail shops and ATMs have failed to adopt mainstream, regular cryptocurrency usage and continue to evolve over time, with both new and fresh exchanges and larger ones adapting as time passes and we move towards 2021; a year that many feel is sure to see BTC hit a new all-time high.
Our Peer to Peer Exchange:
Gwallet, the home of the LEVELG token is our new decentralized exchange that includes Peer to Peer trading.
It is highly secure, includes a Zakat feature and supports multiple currencies, along with a swap engine powered by our AI Gtracker which will find you the best deals in the SDEX.
Gwallet.tech is a new Stellar Blockchain-based hybrid wallet with decentralised and peer-to-peer exchange soon to launch on Apple and Android.
