shiftal
New member
What is a regular or traditional crypto exchange?
A regular bitcoin exchange handles all transactions on its platform through order books using an algorithm that matches buyers and sellers based on their order value. In simple words, the role of buyers and sellers is limited to placing a buy/sell order while the platform takes care of the actual transaction process.
In order to perform a buy/sell trade on a regular crypto exchange, a user will have to place his/her order. After that, the platform will execute the order and deduct (for buy orders) or add (for sell orders) payment from/to the user wallet. Funds must be deposited into the user's wallet first in order to buy bitcoin or other cryptocurrencies.
What’s a P2P crypto exchange?
A peer-to-peer bitcoin exchange is exactly what it sounds like. Such a website would allow you to connect and trade directly with other users, with the minimal role of the platform itself. Basically, when looking to buy or sell bitcoins, you can use a P2P Crypto exchange like Shiftal to find traders who are interested in buying from or selling to you. Then, you can buy Bitcoins directly from that person at a price previously communicated and make payment directly to their bank account or any other preferred mode.
The only major role of a P2P exchange, besides providing a platform for traders to connect, is to maintain security in trades and provide a fair resolution of disputes.
A regular bitcoin exchange handles all transactions on its platform through order books using an algorithm that matches buyers and sellers based on their order value. In simple words, the role of buyers and sellers is limited to placing a buy/sell order while the platform takes care of the actual transaction process.
In order to perform a buy/sell trade on a regular crypto exchange, a user will have to place his/her order. After that, the platform will execute the order and deduct (for buy orders) or add (for sell orders) payment from/to the user wallet. Funds must be deposited into the user's wallet first in order to buy bitcoin or other cryptocurrencies.
What’s a P2P crypto exchange?
A peer-to-peer bitcoin exchange is exactly what it sounds like. Such a website would allow you to connect and trade directly with other users, with the minimal role of the platform itself. Basically, when looking to buy or sell bitcoins, you can use a P2P Crypto exchange like Shiftal to find traders who are interested in buying from or selling to you. Then, you can buy Bitcoins directly from that person at a price previously communicated and make payment directly to their bank account or any other preferred mode.
The only major role of a P2P exchange, besides providing a platform for traders to connect, is to maintain security in trades and provide a fair resolution of disputes.
