A transaction on a peer-to-peer (P2P) platform involves the actual transfer of money from one user to another on an automated platform. For this reason, the service minimizes or completely eliminates fees. Typically, such exchanges charge a commission to cryptocurrency sellers, with the commission amount not exceeding 1% of the transaction.
In case of a dispute, the intervention of a third party may be necessary, with customer support or an independent arbiter acting in this role. For instance, one of the participants in the transaction may attempt to deceive the other user. One distinction of this option from a cryptocurrency exchange is that on a peer-to-peer platform, the intermediary for the transaction is chosen by the participants (sellers or buyers), whereas on an exchange, the system makes this choice. Services of this kind stand out for their straightforward functionality. Due to this, newcomers who are not interested in trading extensively or wish to quickly buy or sell cryptocurrency often prefer this method.
In case of a dispute, the intervention of a third party may be necessary, with customer support or an independent arbiter acting in this role. For instance, one of the participants in the transaction may attempt to deceive the other user. One distinction of this option from a cryptocurrency exchange is that on a peer-to-peer platform, the intermediary for the transaction is chosen by the participants (sellers or buyers), whereas on an exchange, the system makes this choice. Services of this kind stand out for their straightforward functionality. Due to this, newcomers who are not interested in trading extensively or wish to quickly buy or sell cryptocurrency often prefer this method.