Log in

How does a P2P platform work and the exchanges in this type of platform.

Como funciona una plataforma P2P CCoins

Probably if you are a person who until now is starting in the world of Cryptocurrencies, you may not know or are not very clear about the most popular Crypto marketing platforms or channels.

For example, we all know that if we want to acquire a bond, share or future of a company, we only have to use the stock market of any country or some type of online site that allows you to connect with the stock market; In the case of Cryptocurrencies it is very similar, however with Cryptos it is a bit special, since unlike buying and selling shares, in digital assets there is no physical site where you can trade Cryptos centrally (New York Stock Exchange, NASDAQ, London Stock Exchange, Tokyo Stock Exchange, etc).

This is because centralization is not sought within Crypto trading and that a group or company manages to control the market, which is why each user has the freedom to trade with whoever they want and when they want, however there are occasions where It is necessary that there be platforms that are the meeting point of various buyers and sellers who seek to have an exchange or commercial transaction safely and quickly even without knowing each other, and now is when we ask ourselves, how is this achieved? Well, the answers for these questions were peer-to-peer markets or P2P markets.

 

P2P Markets or Peer to Peer Market

The peer-to-peer market, as its name indicates, is a trading system where two people interact with each other, in order to exchange a good or service, being within the context of the Crypto ecosystem the exchange of Cryptocurrencies and tokens.

The P2P exchange of Cryptocurrencies has become increasingly popular among Cryptocurrency users due to its advantages over traditional exchange houses, this type of trade works in a very particular way, it consists of a system in which people can buy and sell Cryptocurrencies to each other, without the intervention of a central entity or controller. On the contrary, instead of depending on an exchange house to execute the transactions, people communicate directly with each other through an online platform, and precisely this ability to interact and guidelines between the participants is what makes the market among peers so popular.

 

Exchanges in a P2P marketplace

Something that should be clear from the beginning is that P2P exchanges are more decentralized than traditional exchange houses, which means that it is not subject to the regulations of a country or central entity, even if it only has some fundamental rules to maintain the safety for both participants. In this way, greater security and privacy are offered to users, since they are not exposed to the possibility of closure or unexpected regulations.

Knowing this, we can say that the process of buying and selling Cryptocurrencies on a P2P platform is quite simple. Where the first step of an operation is the search for an offer, at this stage a user will be able to search for purchase or sale offers available on the platform. The next stage is the communication with the counterparty, in this step you can have access to the communication with the seller or buyer directly through the platform to agree on the terms of the transaction (Price, Payment Method, Amount of Crypto to trade , Etc). Finally, the transaction is carried out using an accepted payment method, in this way the buyer, once the payment has been made, will be able to request the Cryptocurrencies, and the seller, once the payment has been confirmed by the buyer, must release the Cryptocurrencies, thus culminating successfully. an exchange.

 

Security Measures in an Exchange

You may wonder what happens if one of the parties does not act properly? or what forces them to act in good faith? The answer is simple, in peer-to-peer markets, exchanges are not based on trust, which is why there are security measures that allow platform users to have certain guarantees in each transaction.

Escrow 

It is a system that is present in each of the exchanges of a trading platform between peers, it consists of a virtualization of a third party, that is to say that in each exchange the seller, the buyer and the Escrow will be present; The Escrow is in charge of receiving the Cryptocurrencies that have been agreed to be exchanged and these will be retained and delivered by the seller, despite the fact that the seller is the one who delivers the virtual currencies, he has no power over them, that is, he will not be able to withdraw them from Escrow. deliberately, the only way to return the Cryptocurrency to the seller is to cancel the exchange or through a dispute.

Through Escrow, it is also guaranteed that the buyer makes the payment, since the seller must confirm said payment to later be able to release the Cryptocurrencies to the buyer, that is, if the buyer does not pay the agreed amount, the seller will not release the Cryptocurrencies and therefore so there would be a dispute.

Identity Verification

It is a security step that is carried out long before any transaction, a good identity verification system allows only people with good intentions and merchants without any background to enter a P2P platform.

Life test

It is one of the most innovative options in recent years and consists of the pre-verification of a user’s identity before trading, that is, a Proof of Life is used when we want to be sure that the user with whom we are buying It really is the person who registered on the platform and not a third party impersonating the identity.

Commercial Dispute or Mediation

This is another security system that occurs in an exchange when the conditions of the exchange have not been met or an error has directly occurred on the part of one of the parties; In this step, a third party enters to mediate between the buyer and seller, this third party will be a representative of the platform who is an expert in commercial disputes, as the case may be, the mediator will request information from both parties and will use the information pre-established in the exchange to give a verdict.

Generally, this type of dispute is due to errors within the transaction; however, this option exists in case a malicious agent or user intends to negatively affect another user.

Join the Most Advanced Cryptocurrency P2P!

Only in Ccoins, Buy and Sell your Cryptocurrencies at the best price through hundreds of offers in our P2P market or convert them to any of our 30 available cryptocurrencies.

 

Ccoins is the fastest and safest platform to trade crypto assets

Of course yes, it is only necessary to make a registration and an identity verification.



Not at all, in fact it is one of the easiest and most secure Cryptocurrency trading methods out there today, although this also depends on the platform.

This really depends entirely on the platform, however peer-to-peer platforms generally do not have many currency options to trade, however in Ccoins we have an extended catalog of 5 currencies: Bitcoin, Ethereum, DAI, USD Coin, Tether, and plan to expand to more coins.

You can join very soon Expect us!

Follow us on our
social networks

Vous pouvez rejoindre très bientôt Attendez-nous!

Suivez-nous sur
nos réseaux sociaux

Te podrás unir muy pronto ¡Esperanos!

Siguenos en nuestras
redes sociales