Functions of a P2P Bitcoin exchange

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    • #3867
      aria briellearia brielle

      A P2P Bitcoin exchange is used to trade digital assets directly between users without the presence of any intermediaries in the system.

      The process followed in a P2P Bitcoin exchange is

      Users have to create an account on the trading platform.
      The exchange undertakes automatic KYC verification of the registered users.
      The user has to place either a buy or a sell order along with the required information like accepted payment methods and other terms and conditions of the trade.
      The order book will find a matching request that would have been raised by another user on the platform.
      The order will be confirmed by both the parties after negotiating the trading deal.
      The inbuilt escrow will hold the assets till the buyer executes the payment.
      Once the payment has reached the seller’s hands, it releases the crypto asset to the buyer’s wallet.
      The buyer can transfer the asset from his wallet to a cold storage facility.

      Once you have comprehended the working of a P2P Bitcoin exchange, start trading your assets soon.

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