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Nairaland Forum / Nairaland / General / Investment / What Is P2P Cryptocurrency Trading? (1987 Views)
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What Is P2P Cryptocurrency Trading? by scarycuteface(m): 10:04pm On Jul 16, 2022 |
Cryptocurrencies (spearheaded by the Bitcoin) was introduced over a decade ago, and has consistently continued to see increased adoption all over the world ever since. Even with this widespread adoption, Bitcoin and other cryptocurrencies continue to see resistance from authorities in some countries around the world: India, China, and most recently, Nigeria. While cryptocurrency exchanges (platforms that let you buy and sell crypto) are legal in these countries, the authorities there have barred banks and other financial institutions from facilitating transactions involving cryptocurrency. This makes it very difficult for the exchanges to operate, and in-turn, making it almost impossible for individuals to trade crypto. ![]() With regulations like this in place, crypto exchanges are now reconsidering P2P trading. P2P trading was used in the early days of crypto trading, when there weren’t many platforms to buy and sell the digital currency. What is P2P Cryptocurrency Trading? The most common method for individual to buy, hold and sell cryptocurrencies is through centralized exchanges like Luno, Binance, and Roqqu. These exchanges sets a price for the purchase of their own stocks of cryptocurrencies and then exchange your fiat money for cryptocurrency. Peer-to-peer trading (P2P), on the other hand, lets individual traders trade different cryptocurrencies among themselves. For instance, Trader A has 2 Bitcoins to sell, he/she gets matched with Trader B that wants to buy the same amount of bitcoin. Cryptocurrency exchanges have began adding the P2P trading feature to their platform to let users in countries with restrictions trade cryptocurrency. In the case of peer-to-peer cryptocurrency trading, exchanges only act as matchmakers, connecting individuals wanting to buy cryptocurrencies with with other individuals looking to sell. The sellers control and set their own price and they get to select what types of payments they will accept. This way, buyers get to choose from multiple payment options: PayPal, Bank Transfers, Credit Cards and even cash payment. To round it up, while some exchanges collect a fee for matching cryptocurrency sellers to buyers, other platforms do this for free. Before choosing an exchange that supports P2P cryptocurrency trading, be sure to check out the attached terms and conditions. Featured Image: Cointelegraph https://www.dignited.com/76107/p2p-cryptocurrency-trading/ 1 Like |
Re: What Is P2P Cryptocurrency Trading? by Inali: 10:08am On Jul 17, 2022 |
Awesome post. Thanks for sharing. What platform do you recommend for p2p? |
Re: What Is P2P Cryptocurrency Trading? by chuksme(m): 11:03am On Jul 17, 2022 |
Nice narration, |
Re: What Is P2P Cryptocurrency Trading? by OladapoF(m): 1:24pm On Jul 17, 2022 |
Thank you for this article. I love trading p2p on Binance. I hope Yellow Card will also introduce it |
Re: What Is P2P Cryptocurrency Trading? by EinsteinAyo(m): 1:40pm On Jul 17, 2022 |
I do use Yellow Card as well. I hope they introduce p2p soon as well OladapoF: |
Re: What Is P2P Cryptocurrency Trading? by AyodejiFelix(m): 1:58pm On Jul 17, 2022 |
Due to the strict regulations imposed by CBN it’ll be hard for Yellow Card to offer P2P, however, they do have an easier alternative to P2P that helps Nigerians overcome the challenges that P2P has introduced EinsteinAyo: |
Re: What Is P2P Cryptocurrency Trading? by Theanyanwu: 6:36pm On Jul 17, 2022 |
Great content. What's the best coin to buy now and where? |
Re: What Is P2P Cryptocurrency Trading? by Theanyanwu: 6:36pm On Jul 17, 2022 |
OladapoF:I hope so too. I've heard lots of great things about this Yellowcard though |
Re: What Is P2P Cryptocurrency Trading? by Niswayne19: 8:53pm On Jul 17, 2022 |
OladapoF: I also use both platforms. But yellow card offers a better alternative And please for those saying crypto has been banned it’s not true. What CBN did was to regulate it. |
Re: What Is P2P Cryptocurrency Trading? by Ay04z(m): 10:20pm On Jul 17, 2022 |
I trade alot.... Binance, yellowcard..kucoin... E. T. C |
Re: What Is P2P Cryptocurrency Trading? by Freelancerx: 10:40pm On Jul 17, 2022 |
Niswayne19:oh so we can still trade and it's not a crime yeah? |
Re: What Is P2P Cryptocurrency Trading? by Mthumbie: 11:45pm On Jul 17, 2022 |
Theanyanwu: Buy more Bitcoin |
Re: What Is P2P Cryptocurrency Trading? by Mthumbie: 11:45pm On Jul 17, 2022 |
Ay04z: I have used most of the platforms How reliable is Yellowcard? |
Re: What Is P2P Cryptocurrency Trading? by Tanybeen: 1:47am On Jul 18, 2022 |
Nice information. |
Re: What Is P2P Cryptocurrency Trading? by Ezlynn: 8:27am On Jul 18, 2022 |
Theanyanwu:USDT, and you can buy at an amazing rate on coin pocket, yellow card and Kucoin. |
Re: What Is P2P Cryptocurrency Trading? by Ay04z(m): 10:20am On Jul 18, 2022 |
Mthumbie:very good... |
Re: What Is P2P Cryptocurrency Trading? by Samken2: 3:50pm On Jul 18, 2022 |
Ok Between binance,yellow card and kuncoin which platform offers cheaper price for btc |
Re: What Is P2P Cryptocurrency Trading? by Samken2: 3:51pm On Jul 18, 2022 |
And can anyone help me out with the crytocurrencies that can easily be mined using my phone and how |
Re: What Is P2P Cryptocurrency Trading? by scarycuteface(m): 6:50pm On Jul 18, 2022 |
chuksme:thank you ![]() |
Re: What Is P2P Cryptocurrency Trading? by scarycuteface(m): 6:50pm On Jul 18, 2022 |
Samken2:check YouTube? |
Re: What Is P2P Cryptocurrency Trading? by rodrigo13: 9:33am On Jul 19, 2022 |
Well, I'm not sure if it's actually convenient, and I can tell you that I've been working with https://changelly.com/buy/ada/ca for a long time already, and I think it's already a great way to trade and profit, so there's no need for me to spend forever looking for a decent P2P platform and trade there because I already have a pretty good exchange platform. |
Re: What Is P2P Cryptocurrency Trading? by toxatyt(m): 10:22am On Jul 19, 2022 |
This is one of the possible good earnings on cryptocurrency, almost all cryptocurrency exchanges have p2p do. There are a lot of investments in crypto, both in the long term and not. I often look for best crypto exchange As interest in crypto assets grows, we begin to notice platforms that are unregulated and uncertified. Putting money into such a platform can result in losing it completely. That's why we need to investigate different crypto exchanges |
Re: What Is P2P Cryptocurrency Trading? by Niswayne19: 4:33pm On Jul 20, 2022 |
Freelancerx: Yeah you can still trade crypto in Nigeria. Just that it is regulated. I still trade UsDT on yellow card. |
Re: What Is P2P Cryptocurrency Trading? by Freelancerx: 12:59am On Jul 24, 2022 |
Okay thanks Niswayne19: |
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