You can edit almost every page by Creating an account. Otherwise, see the FAQ.

P2P Cryptocurrency Exchanges

From EverybodyWiki Bios & Wiki



The typical or regular cryptocurrency exchanges are primarily focused on only a select group of currencies where they set the purchase price. Then, they take your fiat currency or other cryptocurrencies (most commonly bitcoin) and exchange it at their current rate. Some accept credit cards and/or bank wires. Often, the purchaser is required to provide identification to prove they are who they say they are before the transaction will execute. Once executed, the currency is placed in the purchaser’s Wallet, which may be on their exchange or your own external wallet. Most of these exchanges primarily focus on Bitcoin as their main trading cryptocurrency. The difference from a “regular exchange” is P2P Exchanges match Buyers with Cryptocurrency Sellers. These are individuals trading back and forth with other individuals. Basically, the sellers are setting their own price and what types of payments they will accept. Many accept PayPal, Bank Transfers, Credit Cards and even Fiat Cash. The Exchange acts more like a dating service, matching people interested in trading cryptocurrencies. Typically these P2P exchanges charge a small fee for this match-up service. Like regular exchanges, most of P2P exchanges also primarily focus on Bitcoin as their main trading cryptocurrency.

Advantages of using P2P Model exchanges;

Censorship of Transactions: P2P exchanges do not hold your funds therefore they are not a central authority that can dictate the way you conduct your business. Because of this you are not at risk of having your wallet hacked and losing your funds.

More affordable Solution: Many P2P exchanges usually have lower less fees and sometimes no fees at all for their services.

Privacy: Typically P2P do not require as much personal or financial information therefore the transactions can be done anonymously. Of course I would not encourage or support using these systems for illegal activity as it just gives the industry a bad reputation.

Currently there are not as many of what I would classify as P2P Crypto exchanges,

LocalBitcoins.com is probably the biggest out there and have been around for many years. As their name states they are primarily a solution for Bitcoin trades. They do have an escrow service and charge a fee for using it.

CryptoMatchUp.com is a new one that just launched a mobile App as well a website portal. They seem more a meeting place where you can find other crypto buyers and sellers near you and you decide how to do the transaction. They dont charge fees for their service.

P2P Cryptocurrency Exchanges[edit]


This article "P2P Cryptocurrency Exchanges" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:P2P Cryptocurrency Exchanges. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.