Peer-to-peer (P2P) trading is a type of cryptocurrency exchange method that allows you to trade directly with others without the need for a third party to facilitate the transactions.
In crypto P2P exchange, you can select your preferred offer and trade directly with a counterparty rather than using an automated engine to execute your transactions. This means you have more freedom to pick the best rate and payment method for your needs—and with lower costs. You can also better safeguard your privacy because you’re dealing directly with a counterparty.
Crypto P2P exchange platforms work by matching crypto buyers and sellers together to facilitate a trade. They can either browse crypto advertisements or create their own.
It’s difficult to establish trust on other platforms such as social media, for example, because they are not crypto P2P exchange platforms. You can’t be certain that the buyer will follow through with the payment for the Bitcoin after receiving it. Therefore using a tested and trusted platform like Bitmama ensures your safety while you trade. You’ll also have the advantage of being able to check their reputation and ratings before engaging in any transactions.