A p2p exchange is nothing but a peer to peer exchange platform. It connects users to trade directly. It is a subset of a decentralized exchange. No third party in the form of a central authority controls the exchange. Users have more control over their funds. To understand this in a better manner, let us look at the step by step trading process.
Interested users have to register themselves by creating an account
KYC verification will be automatically executed by the exchange
The user places the buy/sell order with necessary information
Multi-signature cryptocurrency wallet will be created by the exchange for the user
A matching request will be found by the order book
Order is confirmed by both parties
Smart contracts take control of assets till payment is executed by the buyer
The asset is released once payment has been made
The asset gets transferred and stored in the buyer’s wallet
This is the way how a p2p exchange platform works. Those businesses interested in hiring an experienced peer to peer exchange development company, approach Infinite Block Tech. With its well-versed experts, profitable solutions are just a step away. Reach out to know more.
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