Peer to Peer Cryptocurrency exchanges is a game-changer as they support direct trading among parties by eliminating intermediaries. Hence processing of trades and holding control of their funds is all within the rights of parties.
While other types of exchanges match trades through the order book, a Peer to Peer Cryptocurrency exchange matches people who make related buy and sell orders. Hence a buyer and seller can formulate their own terms and conditions before agreeing for a deal.
Third parties will help in resolving disputes
Some of the benefits of Peer to Peer Cryptocurrency exchange development are
A higher level of security - Since third parties do not hold the funds of users in their custody, the trading process is made safer. Funds can never be stolen or misused making the whole trading experience less complex and easier.
Privacy - Since governments have started interfering with KYC and AML guidelines, it forces companies to collect as much user data as possible for carrying out compliance. Users can trade more privately with each other as governments do not have the power to regulate a Peer to Peer cryptocurrency exchange.
Immunity to government guidelines - Centralized and decentralized exchanges often come under the regulatory scanner of governments all over the world. A Peer to Peer cryptocurrency exchange need not follow government laws since it does not possess a central authority in its operations. While certain operations can be controlled, the rest of the system is not affected.
Lower fees - There is less human intervention as a Peer to Peer cryptocurrency exchange operates based on pre-programmed software. Hence the fees are very less. Transactional fees are negligible and a user can get his transaction validated by the miner quickly.
While a Peer to Peer Cryptocurrency exchange is advantageous when compared to a centralized exchange, it is a welcome change in the industry. It can be beneficial to traders and investors through greater freedom, lower fees and higher privacy. Hence, outsmart your competitors by investing in Peer to Peer cryptocurrency exchange development from Blockchain App Factory. We will transform your business by implementing cutting-edge blockchain technology in your operations.
