The step by step procedure of how a P2P cryptocurrency exchange operates
1. An in-built matching engine will match the identical requests of the buyers and sellers by connecting the buy and sell orders instantly.
2. There will be an escrow service that holds the assets safely to prevent fraudulent practices.
3. The buyer and the seller can negotiate the terms and conditions of the trading deal through the in-built chat facility.
4. The buyer will make the transaction to the seller.
5. Once the seller confirms the receipt of the payment from the buyer, the escrow will immediately release the crypto asset to the buyer.
6. The buyer can transfer the cryptos to his personal wallet.
7. The trading deal is officially concluded on the platform.
Infinite Block Tech creates a feature-rich P2P cryptocurrency exchange at an affordable cost. The main highlights are two-factor authentication, a real-time price ticker, acceptance of multiple payment methods, the availability of a search and filter option, and the presence of a review system to improve accountability in the system and eliminate scammers.
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