8 Benefits of Peer-To-Peer (P2P) Transaction in Bitcoin Trading

Almost every crypto trading platform offers a P2P transaction service that enables buyers and sellers to meet in exchange for carrying out ...

Almost every crypto trading platform offers a P2P transaction service that enables buyers and sellers to meet in exchange for carrying out a transaction at their desired rates and currencies without involving a third party. The elimination of middlemen is the prime factor that attracts a lot of investors. It eliminates middlemen, but it also saves you from the government's intervention and other regulatory authorities in your region.

This can be easily understood by a hypothetical situation where you want to buy 1 Bitcoin, and someone else anywhere in the world is willing to sell 1 Bitcoin. Peer-to-peer or P2P transactions on BitcoinPrime software or similar take place without any third-party involvement. This feature allows you both to put out your offers to each other or in the open market at your desired rates, and once the criteria match, the transaction successfully takes place.

8 Benefits of Peer-To-Peer (P2P) Transaction in Bitcoin Trading

There are various benefits of P2P transactions in Bitcoin trading, and a few of them are enlisted below:

1. Security

Most of the leading crypto trading platforms like the Bitcoin Era offer high security when it comes to transacting your digital currencies. Both the parties are made to deposit their coins or the sum to acquire it in a secured wallet. It is initiated in their respective permanent wallets once the transaction is successful. This prevents an individual from falling into scams where people send the coins but never receive them and vice versa.

2. Set price as per your need

This feature also allows you to bid or sell at the desired price. Unlike other transaction methods that let you transact at a pre-decided rate set by the exchange and the market, it allows you to set the rates as per your understanding, and if a buyer or seller agrees on that price, the transaction is completed.

3. Low transaction fees

With the increased competition in the market, almost every leading exchange charge the least amount of transaction fees for initiating and completing the transaction on your behalf. Some of them even charge zero transaction fees to attract more clients. It has become more of an additional service than a business proposition.

4. Flexible payment methods

The inconvenience caused to the investors in dealing with cross-border buyers and sellers in different currencies is eliminated with this feature. Both the buyer and seller have the flexibility to choose the transaction method of their convenience. There are numerous vendors available to initiate payments in different regions. You benefit from choosing the payment vendor of your choice using this technology.

5. Enhanced privacy

The inclusion of a temporary wallet has led to the non-disclosure of your private information to the opposite party. Since you surrender your coins to the temporary wallet and the transactions take place, the risk of putting yourself under the threat of cyberattacks is also eliminated.

6. 24x7 client support

Crypto trading platforms offer P2P transactions with customer support which is available to cater to any query or to resolve any issue with the transaction at any time of the day or night. It is the duty to contact both the parties and to figure out the root of the issue, and This makes your holdings absolutely safe and secure.

7. Wide access to the market

Finding a buyer or seller to transact with locally can be tiring. It is not feasible for someone to carry out a transaction, and it’s even harder to find a trustworthy person. P2P technology gives you access to a local market willing to transact and the international market as well. This will help you find a genuine party.

8. Quick transactions

Since the holding is generally deposited in a temporary wallet, the transaction instantly takes place, whether you are available with your device.

Conclusion:

P2P transactions are a technology that is a blessing to crypto investors. It is not a newly found concept, but the way it is integrated into crypto trading is commendable. It has solved many issues that investors used to face while trying to buy or sell at their desired rates. Owing to its multiple benefits, this form of networking is finding applications across the business niches. This has also contributed to the wider acceptance of Bitcoin and cryptocurrencies.