P2P as commonly referred or peer-to-peer refers to a method of trading where individuals buy and sell digital assets directly with each other, without the need for a centralized exchange or intermediary. This means users connect directly, often through a platform that facilitates the trade, and agree on terms like price and payment method.

P2P comes in different methods, pay attention to the followings;

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Direct Trading

P2P trading eliminates the need for a central authority like a traditional cryptocurrency exchange.

User-Defined Terms

Buyers and sellers can negotiate the price and payment methods directly.

Decentralized Platforms

P2P platforms act as marketplaces, connecting buyers and sellers and often providing escrow services to ensure secure transactions.

Examples

Platforms like Inflowbit, Binance P2P, LocalCryptos, and Paxful are examples of P2P cryptocurrency trading platforms.

Benefits

P2P trading can offer more flexibility, potentially lower fees, and the ability to trade using local payment methods.

Security

P2P platforms often use escrow services to hold funds during a trade, protecting both buyers and sellers.