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Peer to Peer Trading (P2P)
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Peer to Peer Trading (P2P)
Peer-to-peer (P2P) trading refers to a decentralized network architecture where users interact directly with each other without the need for a third party. In crypto, P2P systems enable the direct exchange of digital assets, such as Bitcoin, Ethereum, and other altcoins, between users, eliminating the need for traditional financial institutions as intermediaries. [1]
Technology
Cryptocurrencies, like Bitcoin, IQ, etc. utilize P2P networks to facilitate transactions. Instead of relying on a central bank or clearinghouse, cryptocurrencies employ decentralized ledger systems, such as blockchain, to record and validate transactions. P2P networks ensure that all participants have equal access and control over the cryptocurrency network, preventing any single entity from having control or authority over the entire system. [1][2]
P2P Crypto Exchanges
Peer-to-peer (P2P) crypto exchanges are platforms that allow crypto-market participants to trade with each other directly. Therefore, transactions are done exclusively between the buyer and the seller, with minimal to zero involvement from any third-party intermediary. [2]
Examples:
- Binance
- OKX
- PancakeSwap
- Huobi
- Bybit
- LocalBitcoins
- DeFiSwap
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Edited By
Edited On
July 7, 2023
Reason for edit:
added exchanges
We've just announced IQ AI.
Edited By
Edited On
July 7, 2023
Reason for edit:
added exchanges