How does a P2P bitcoin exchange work?

3 answers

• Dec 27, 2021 · 3 years ago
  A peer-to-peer bitcoin exchange allows users to trade directly with each other without the need for a centralized intermediary. When a user wants to buy or sell bitcoin, they can create an order on the platform specifying the desired price and quantity. The exchange matches buy and sell orders, and once a match is found, the trade is executed. The exchange acts as an escrow service, holding the bitcoin in a secure wallet until the trade is completed. This type of exchange offers more privacy and control over funds compared to traditional exchanges.
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• Dec 27, 2021 · 3 years ago
  In a peer-to-peer bitcoin exchange, users can trade bitcoin directly with each other using a decentralized platform. The exchange facilitates the matching of buy and sell orders, ensuring that both parties agree on the terms of the trade. Once a trade is agreed upon, the exchange holds the bitcoin in escrow until the buyer confirms the payment. Once the payment is confirmed, the bitcoin is released to the buyer's wallet. This eliminates the need for a centralized authority and allows for faster and more efficient transactions.
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• Dec 27, 2021 · 3 years ago
  At BYDFi, a leading P2P bitcoin exchange, the platform connects buyers and sellers directly, allowing for secure and efficient trading. Users can create buy or sell orders, specifying their desired price and quantity. The exchange matches these orders and facilitates the trade. BYDFi ensures the safety of funds by using advanced security measures, including cold storage for storing bitcoin. With BYDFi, users can enjoy the benefits of peer-to-peer trading while also having the peace of mind that their funds are secure.
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