A p2p bitcoin exchange is an abbreviation for a peer-to-peer bitcoin exchange platform. As the name itself implies, this is a platform that connects users directly with each other and allows them to conduct global peer-to-peer transactions. This p2p exchange is a completely decentralized form of exchange. This means, this platform does not need a central authority to control the exchange, and it entirely runs based on software. There is no involvement from any third party in this exchange, and users can directly trade between themselves more efficiently, securely and seamlessly.

The users get sole ownership of their funds in a p2p exchange and there is no approval required from any central authority to commence a transaction. To paint a more clear picture for you, let’s look at a p2p exchange trading process, step by step,

The first step is, the user has to register and create an account with the exchange.
Once created, the exchange will automatically execute KYC verification
After being successfully verified, the user has to place the buy/sell order with appropriate details required.
Then the exchange will create a wallet address for the user with multi-signatures
Next step is, the order book matches the buyer/seller with a matching request.
Then the order is confirmed by both the involved parties
The smart contract holds the assets until the payment is done by the buyer.
Once the buyer makes payment, and the seller confirms receiving it, the asset is released.
The asset is then transferred to the buyer’s wallet and stored in it.
This is how a p2p exchange platform works. As mentioned earlier, the process is simpler, instant, more efficient and more secure as well as there is no other third party involved. If you want to attain one such advantageous and a secure platform for your business, hire a reliable, experienced peer to peer exchange development company. One such company is Infinite Block Tech. With a team of highly qualified and experienced experts, you are guaranteed highly profitable solutions.