Peer-to-peer

Peer-to-peerPeer-to-peer (P2P) is a type of network where computers or nodes can directly communicate with each other, without the need for a central server or... More (P2P) is a type of network where computers or nodes can directly communicate with each other, without the need for a central server or authority. In the context of cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... More exchanges, P2P trading refers to a direct transaction between two parties without the need for an intermediary.

Binance and Bybit are two exchanges that offer P2P trading services. For example, Binance has a P2P platform where users can trade cryptocurrencies directly with each other using fiatFiat refers to any government-issued currency that is not backed by a physical commodity, such as gold or silver. Examples of fiat currencies include the... More currency or other cryptocurrencies as payment. Bybit also allows for P2P trading of cryptocurrencies through its “Spot Trading” feature, which enables users to buy and sell digital assets directly with each other.

P2P trading can offer several benefits to users, such as faster transaction times, lower fees, and increased privacy. However, there are also risks associated with P2P trading, such as the potential for scams or fraud. It is important for users to exercise caution and conduct thorough research before engaging in P2P trading on any platform.