The vast communication and speed of the Internet characterize this technological age that evolves every day. An example of this is the P2P network, which allows you to connect to a fully decentralized global Cryptocurrency market.
This is one of the oldest communication networks, where a central server is not required. Furthermore, you can share any type of data in an environment where each party is autonomous.
And if it is about Crypto business, you have an ideal environment for your transactions safely. Do you want to know the great advantages of exchanging Cryptocurrencies under this advanced model? Find out below.
What does P2P mean?
Peer-To-Peer network (So called by its acronym P2P) is an interconnection system between two users. It is not necessary to use servers or intermediaries, each node or user acts equally.
Hence the name of the peer to peer network, which means “network between peers” or “person to person”. This is because the computers of each user operate together with a common purpose, under the same communication protocol.
In a network there can be a large number of participating nodes, hundreds or millions, with great performance in data transmission. Is this favorable for the market of Cryptocurrencies? We will explain it to you.
Why is P2P exchange a reliable method in the Cryptocurrency market?
The P2P market has gained greater importance and worldwide acceptance, providing an accessible and globalized platform. What does this mean? That your purchase and sale transactions have a powerful and robust environment.
Do you want to trade in a safe market that supports you at all times? Here you can exchange your Cryptocurrencies with strict guarantees on the fulfillment of the operations.
It is an efficient and decentralized market that continues to grow, which provides better performance and speed in transactions. Since the user deals directly with his counterpart, there are measures designed to operate in a healthy environment.
Reliable wallet
Store your Cryptos in a specially designed digital wallet with advanced encryption techniques in its blockchain, which guarantees their safety.
Reputation
Before bidding or making your transaction, you will be able to verify the reputation of your counterparty. It is important to know the level of reliability that said user has. Negotiate with peace of mind within the P2P market.
Payment methods
Choose the method that suits you best from a wide variety of recognized options. You can pay with reliable systems like MoneyGram, PayPal, bank transfer and more.
KYC / AML
You have an intuitive Identity Verification process to avoid scams. In addition, it protects you from getting involved in possible money laundering.
Chat in real time
Real-time communication is possible, thanks to an encrypted chat that will make the process much more easy. In addition, you can do it while the transaction is running.
Life test
Some platforms count with a service which verifies the identity of any user before making an exchange.
How does this service work? By requesting the user a short video, performing a series of movements or reading randomly generated numbers.
This real-time recording can be created through a secure link from a mobile phone for added convenience.
It is important to mention that in this validation process your data is 100% protected, since the information never leaves the platform.
Benefits of operating on P2P platforms in the Cryptocurrency business
If you want to exchange your Cryptocurrencies, the P2P market provides you with various advantages designed for your peace of mind. Such as:
More affordable prices because there are no intermediaries
There is no intermediary, so you will not have to worry about high commissions. You will be able to buy your Cryptocurrencies at very competitive prices.
Variety of prices in the same place
In this environment you will obtain various offers that will also be available to you worldwide. On these platforms, the price is defined by supply and demand, which means that you can take advantage of these small price fluctuations in your favor.
Likewise, on these platforms you will find a wide variety of payment methods.
Maintains privacy and anonymity between users
Each party will enjoy strict protection of their identity, avoiding exposures to the client and a better business environment.
Offers faster trade
The nature of the P2P market offers a high level of network bandwidth, thanks to the participation of each node. This offers higher speed in transactions.
Secure transactions
Through the Escrow system – Guarantee Deposit. The platform is responsible for releasing the assets once it confirms that the corresponding payment has been made.
The deal is fulfilled with the greatest transparency for the parties. Thus, your money will be safe and without risk of fraud.
Types of P2P networks
You already know that the P2P network allows users to exchange their Cryptocurrencies in a reliable way. But, did you know that there are some variants according to its design? Discover them here..
Structured networks
The directory is set on a central server. The advantage is that the network does not rest upon only one client.
Unstructured networks
In this kind of decentralized P2P network, the computers or nodes function only as clients and servers.
Hybrid networks
Hybrid networks are made up of the combination between a decentralized and structured network. Here there is no directory on a server, since several computers facilitate access to other computers.
Conclusions
There are many advantages that you can obtain by buying and selling your Cryptocurrencies within a reliable environment. The P2P market guarantees you more than this, it is an alternative designed for experts,traders or beginners enthusiasts.
You can carry out your transactions safely and without wasting time, but it is important to have a broad knowledge of the process in order to make reliable and profitable transactions.
Still don’t feel fully prepared? With the MegaAcademy Basic Cryptocurrency Course You will be able to learn everything you need about the P2P market and everything related to the Crypto world.
In this way you can make the best decisions in your transactions and grow your investments like a professional in Ccoins.
