When we talk about Cryptocurrency exchange platforms, perhaps one of the most used is the P2P markets, and the fact is that the exchange of Cryptocurrencies between peers has gained popularity in recent years due to its very simple form of trade. In addition to its simplicity, this modality has a set of advantages that make it stand out from other platforms; however, it also has some disadvantages that may make some users uncomfortable. In this article, the main advantages and disadvantages of P2P Cryptocurrency exchange will be discussed.
Before revealing or analyzing the advantages and disadvantages of person-to-person electronic commerce, we need to review what this type of market consists of, in this way we can understand and contextualize this topic in depth.
To better understand the virtues and disadvantages of trading between two people, we must first understand what this market consists of. The person-to-person platforms are a website or a form of electronic commerce where the greatest number of sellers and suppliers of a good or service is sought to be concentrated, in this case said good is Cryptocurrencies, and so that said currencies can To be sold, buyers or applicants for the property are needed, which is why this modality also seeks to concentrate the largest number of buyers.
Through this grouping of sellers and buyers of the platform they can make exchanges between them and through these exchanges the platform obtains a small commission, as well as they can obtain profits for the use of other services that the platform may offer.
In a certain way, this modality has been increasing in popularity for reasons that we will mention later, such as its advantages, and that is that P2P trading platforms are prepared to solve any need of their users, whether they are security needs or comfort in the exchanges.
If you are a new user in electronic commerce and you really do not know what are the benefits that the P2P market model brings in the purchase and sale of Cryptocurrencies, do not worry, below we will explain the most relevant advantages within this model and how some are essential to make it so popular and used by merchants.
One advantage of the peer-to-peer Cryptocurrency market is that you can have complete freedom in the conditions of your offer, either by accepting the offer that most closely matches your needs or by creating your own offer with your own conditions. In this way you can control at what price you want to buy or sell, with which payment method you want to operate and avoid the annoying conditions of third parties, that is, there is no control like in banking or financial institutions that can condition your transactions.
This point is considered an advantage and a disadvantage depending on who is asked, and that is that a platform with soft anonymity is understood to be those platforms that really keep the data of their users encrypted and in complete anonymity except in some processes such as exchange.
For example, when making an exchange we do not really know the real name of our counterpart or his personal data, however there are platforms where the purchase of Crypto with third-party payments is not allowed, that is, you cannot buy Cryptocurrencies from the account bank account of someone else, and to avoid this, the bank details of a person must be registered and sometimes some payment methods require the identity document number, in these cases it becomes a soft anonymity, where we must sacrifice a little anonymity for transaction security.
Thanks to the market design of the P2P platforms, it is not necessary to pay high management costs to a third party who will be in charge of looking for a buyer or a seller, in this case, since it is an open market, any user can accept an offer or create your own, only having to pay a commission that is much lower for participating in the market.
Perhaps one of the best advantages that the P2P market has is the opportunity to be part of it without any type of restriction, since in other platforms there are geographical or economic restrictions where certain types of currencies are blocked or directly prohibited, due to this the markets P2P are used by those countries or regions where, despite not being so relevant, they wish to be part of the Cryptocurrency ecosystem.
P2P markets have their strengths and weaknesses, some of these factors are really harmless, however they can cause discomfort to certain users, such is the case of anonymity or lack of liquidity on certain platforms.
Perhaps this point causes confusion since we can find it as a strong point within the P2P markets, however this anonymity is not completely complete since in certain exchange processes this anonymity can be broken, although not in the way in which many think, since only information is given that cannot compromise the user in a great way.
Something that can be a disadvantage in commerce or P2P platforms is that they do not have the great liquidity that other platforms such as exchanges have, however it is not that liquidity is little, let’s remember that P2P collects all those users who due to regulations or currency compatibility cannot trade on an exchange.
Being a market where the price is regulated by the same offers that users generate, said price can be somewhat volatile, where it can be higher than the value in the general market or on certain occasions a price lower than the spot price.
As we can see within the peer-to-peer market there are certain positive factors that have helped to contribute to the popularity of this type of platform, some of these being so advantageous that many users prefer P2P platforms over other types of platforms, however they also have weak points, that in a certain way can be somewhat subjective, such as, anonymity and others the cause of why large merchants only use this platform on certain occasions.
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This depends on the type of user and the importance you give to your privacy. Within P2P platforms, it is always sought to be in perfect balance between security for all users and keeping their privacy assured, which is why some may see this point as something good or bad.
This is due to the advantages that we already mentioned above, its easy access and understanding in the way of operating, since you can trade from anywhere in the world and without being an expert make transactions in a P2P.
There are really good examples, but without a doubt the best is Ccoins, which is a person-to-person trading platform where you can trade your Cryptocurrencies not only safely but quickly and easily, it is the only platform that has a measure of extra security called proof of life that guarantees that you are trading with a person registered and verified in Ccoins.
