In simple words, a peer-to-peer (P2P) cryptocurrency exchange is a platform where a user can directly exchange cryptocurrency with another user. Unlike the centralized or decentralized exchanges, a P2P exchange allows traders to pick with whom they wish to trade. These platforms enable you to browse through a seller’s list and choose the one that offers the most appropriate payment method without giving up the custody of assets. In contrast to a centralized exchange, a P2P crypto exchange has no single point of failure.
Operating a P2P exchange is pretty simple. A user must register to the site using an email address and does not require identity verification. The users post their buy and sell offers on the platform. Each of these offers is customizable. It means that the user can set a different rate, different methods of payment acceptance, and set the minimum/maximum buy/sell amount.
How does a transaction happen on a P2P exchange?
Once a user initiates a transaction on a peer to peer exchange, the transaction amount is moved to a collateral or escrow contract. Only when the seller confirms that he has received the funds, this escrow amount is released. The escrow acts as a security blanket for the traders.
Any budding crypto entrepreneur can partner with an experienced P2P exchange development company and start a P2P exchange. However, to ensure its success, the following aspects are indispensable.
Cryptocurrency is a volatile market, thus time means money. An exchange that offers a slow matching engine might put traders to losses. Thus, ensuring a fast trade matching engine is a must during P2P crypto exchange development.
Exchange features for the operator
The P2P exchange development company you choose must ensure that the portal comes with a feature-packed, intuitive admin panel. Some of the most important things to ensure are:
1) The admin panel should be customizable
2) The admin operator must be able to see the website engagement statistics in a chart format
3) The admin panel must come with a monitoring system for reputation management.
Marketing an exchange
Apart from getting the exchange developed, it’s equally important to market the exchange well. Antier Solutions is your one-stop P2P exchange development. While our product development team help you strategize the P2P exchange, our marketing strategists help you reach the desired goals. We provide a white label P2P exchange solution to expedite the deployment, and at the same time, we specialize in building a custom P2P exchange from the ground up.
Schedule a free demo of our white label P2P exchange platform or connect with our subject matter experts to share your needs for custom P2P crypto exchange development.
Originally published at https://www.antiersolutions.com/
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