Are you a startup entrepreneur harboring to be part of the crypto-verse?
For that, you don’t need to search for any business ideas, just look around the market and you will find myriads of crypto exchanges to get the best ideas for you.
So drop seeking business ideas and start looking for a promising crypto exchange solution that will make you stand out among other market players.
Nowadays, crypto exchanges are the cornerstone of trading bitcoins and other popular altcoins. Especially, the development of P2P cryptocurrency exchanges like popular brands is becoming a solid business model and a great investment idea for every startup in the crypto space.
Alright, in this blog we will explore more things such as,
- What Peer-to-Peer crypto exchange is?
- How does P2P differ from OTC trading?
- Why buy crypto P2P exchange over other trading platforms?
Also, we will identify a list of some of the best P2P cryptocurrency exchanges that deserve your attention.
What is Crypto P2P Exchange?
Crypto P2P exchange is a trading platform where users can trade cryptocurrency with each other without using intermediaries. Like other exchange platforms, P2P exchange has an admin who will only ensure the platform’s functionality but will not be involved in the trades and transactions activities of the users.
Generally, Peer to Peer exchange platform allows verified users to trade seamlessly in the platform. Instead of using an order book to connect buy and sell orders, the P2P model uses tools like ad posting, trade matching engines, and smart contract-based escrow security to execute trades and transactions privately without any central authority.
With this, you came to know what P2P exchange is, but some people often confuse Peer to Peer exchange with OTC (Over-the-counter). Let us see the difference between these two up next.
P2P Cryptocurrency Exchange Vs OTC Trading – What’s the Difference?
Here we are not going to say that one trading method is superior to the other as both have their own pros and cons. We are only going to see the difference between them.
Generally, P2P is a form of decentralized exchange that is managed using software. Interactions between counterparties in peer-to-peer exchanges are driven solely by pre-programmed software, requiring no human intervention.
Whereas crypto OTC is also a trading platform, where crypto assets are traded directly between two parties. But it allows users to trade crypto-to-crypto or fiat-to-crypto directly with administrators with instant transactions.
Mostly, to avoid slippage into existing crypto exchanges, we use an Over-the-counter approach to buy large amounts of Bitcoins or other altcoins at one exchange platform itself. For instance, 500 or 1000 BTC or even more.
So, if you want to complete transactions immediately, it is better to choose an OTC exchange. Or if you want to have some flexibility and use a platform with a better profit margin, it is better to choose a crypto P2P exchange to meet many users worldwide at the same time.
Ultimately, both crypto Peer-to-Peer and Over-the-counter exchange platforms have their respective benefits for their users.
Hope you have understood the difference between these two. Well, now in the next discussion we will see why you should buy a crypto P2P exchange.
Now let’s see,
Why Buy Crypto P2P Exchange Over Other Trading Platforms?
Many crypto enthusiasts believe that P2P crypto trading is more effective than conventional crypto exchanges because there is no centralized authority to dictate prices or impose exorbitant fees. As a result, it frequently provides better exchange rates and lower fees, which can help maximize its users’ profits when trading their cryptocurrencies.
In addition, crypto P2P platforms have higher liquidity than conventional exchanges due to the large number of users worldwide using them. This implies that anyone can quickly locate buyers or sellers for any cryptocurrency they desire. People will therefore constantly search for a convenient platform with greater benefits to conducting their crypto trading.
With this, we can clearly say that starting a cryptocurrency exchange platform is the best idea to succeed in the crypto-verse. In such a way, crypto P2P exchange is an amazing way where business owners can earn good profits in their pockets right from the beginning.
Moreover, you can buy P2P crypto exchange from any of the best cryptocurrency exchange development companies or solution providers. But before that, you need to analyze the best exchange for setting the benchmark to create your own trading platform.
For your convenience, we have enumerated some of the best P2P crypto exchanges in the market for you to choose from.
List of Best P2P Cryptocurrency Exchanges:
If you are a startup entrepreneur and want to experience the novelty, these are the best crypto P2P exchanges in the crypto market right now. Also, these exchange platforms act as the best partner for users when it comes to trading effectively and safely.
OKX: The most trusted crypto exchange in the world to buy Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Shiba Inu (SHIB), EOS, and various cryptocurrencies.
Binance: Largest peer-to-peer exchange platform with more than 700+ payment methods and 100+ fiat currencies with an escrow service.
Huobi: The global trading platform allows its users to buy, sell, share and borrow a wide range of cryptocurrencies with 24/7 online customer support, including a comprehensive ecosystem for experienced crypto traders and investors.
Bybit: A trusted cryptocurrency trading platform that allows you to buy cryptocurrencies with guaranteed returns. Provides easy access to cryptocurrency spot/derivative trading pairs – fiat-to-crypto or crypto-to-crypto.
Paxful: The leading P2P exchange platform to buy and sell Bitcoin using 350+ payment methods
LocalBitcoins: A user-friendly trading platform that connects Bitcoin buyers and sellers within a particular geographical location with fast, easily, and privately.
WazirX: A well-known cryptocurrency exchange that helps to make fiat-to-crypto conversions (and vice versa) instantly. Also, users can buy & sell cryptos instantly with their bank account.
KuCoin: A secure cryptocurrency exchange that allows users to trade Bitcoin, Ethereum, and 600+ altcoins. Also, it offers P2P, margin, staking services, and other services.
HODL HODL: Global B2B Bitcoin Trading Platform. It does not store users’ funds but provides them with features to buy/sell, lend and borrow crypto in an automated manner.
Gemini: A privately owned cryptocurrency exchange that enables users to buy, sell, trade, and securely store more than 50+ cryptocurrencies in the wallet.
Each of the above-mentioned crypto P2P exchanges offers different features and services. Some trading platforms only provide services for Bitcoin. And many support peer-to-peer exchanges for both bitcoin and altcoins.
Meanwhile, as a startup entrepreneur finding the right one can be a daunting process.” Which is the best? How much does it cost? where to buy crypto P2P exchange?” may be earworming continuously in their minds.
However, we recommend you search for the best software development company like Zodeak rather than the best solution like the popular exchange. Because only well-skilled professionals can assist you from development to customization to deployment while providing timely service.
To become a part of the crypto-verse! Pick your favorite crypto P2P Cryptocurrency exchange Development from the list above that best suits your business needs and customize accordingly.
Ultimately, it all boils down to your business needs and preferences!