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A Guide about P2P Crypto Exchange Platform

As the number of crypto traders increases, the peer-to-peer crypto exchange market is growing tremendously. 

Typically, a Peer-to-peer exchange works on a decentralized mechanism. It allows buyers and sellers to trade without the need for an intermediate.

The P2P Crypto exchange cut out the middleman and provide a trustless environment for the users. An escrow service never holds exchanges, and the transactions between participants are done entirely based on the smart contracts and atomic swaps.

?Advantages of Peer-to-Peer Crypto Exchange?

⏭ Enhanced security

The main advantage brought by the peer-to-peer exchange platform is to provide enhanced security. P2P exchanges are difficult to hack. As the name implies, it does not allow any third party in the transaction. therefore they are immutable in nature and facilitate an encrypted transaction that ensures the entire platform security
The exchange platforms provide a KYC feature so every user should synchronize their details with the blockchain database. This feature eliminates the need to worry about the counterparty’s authenticity.

⏭ Allow universal transaction.

Generally, exchanging fiat money takes several days or weeks for an international transaction. With the use of a P2P exchange platform, users can encounter a fast and cost-effective transaction across the board. 

⏭ Efficient resolution to transaction disputes

When a dispute emerges between the buyer and seller, the exchange platform requires the participants to lock some amount in a smart contract escrow before the trade. If the trade is successful, then the escrow releases the amount from the smart contract escrow.  

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In recent days, many crypto investors are using p2p exchange, you know why??? The user or trader directly exchanges their digital asset by the name of buy & sell order. As the buy order and sell orders are placed based on the mutual interest the execution of trade is done within a short span of time.

So the crypto enthusiasts are also interested in launching their own crypto exchange platform, but they don’t know how to start??? I've a simple road map to kickstart your P2P exchange, check it given below.

Simple Roadmap to Start a P2P Crypto Exchange:

1. Obtain proper legal counsel to ensure licensing requirements are met.

2. Attain funding for venture.

3. Find the best cryptocurrency exchange script provider.

4. Connect your exchange with others for added liquidity.

5. Partner with a payment processor.

6. Implement best security practices.

7. Go live via beta testing.

8. Start marketing & PR campaign.

9. Offer customer support.

Hopefully, the above information is helpful to launch your own p2p exchange platform. If you want know more detailed check out this article >>> How to start a bitcoin exchange