How does a p2p cryptocurrency exchange work?

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    • #2957
      mia perlamia perla

      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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