‘Peer-to-peer’ (P2P) or ‘decentralised’ exchanges are operated and maintained exclusively by software. P2P forms of trading or value exchange take a decentralised approach to interactions between ecosystem participants. This approach has been used in computers and networking (peer-to-peer file sharing), as well as with currency trading. Below we look at some of the popular peer-to-peer marketplace in the world, in no particular order.
1) Hodl Hodl
Hodl Hodl, which has its headquarters in London, is a global peer-to-peer Bitcoin trading platform that allows users to trade directly with each other. The platform also doesn’t hold user’s funds – locking it in multisignature escrow instead. This minimizes the possibility of Bitcoin assets theft and reduces trading time. Because Hodl Hodl does not hold any money (neither cryptocurrency, nor fiat) it is not subject to complex compliance procedures. All trades happen directly between users’ cryptocurrency wallets. Each time a contract is created between two parties, Hodl Hodl exchange generates a multisig escrow cryptocurrency address. The seller sends cryptocurrency from his wallet to this account, and when the cryptocurrency is locked in escrow, the buyer sends fiat to the seller. The seller then releases the locked cryptocurrency from escrow using his payment password, and the buyer receives them into his wallet.
2) Bitsquare
Bitsquare was founded in 2014 and headquartered in Spain. It is an open-source, decentralized desktop application that allows its users to buy and sell bitcoins in exchange for national currencies or alternative cryptocurrencies. Users of the application are able to add their national or cryptocurrency accounts, create a new offer or take an existing one, and follow the user interface to finalize the trade. Bitsquare makes it possible for platform users who do not want to forfeit control or privacy to a central authority to anonymously trade with other users. The exchange system allows users to buy and sell bitcoins with each other using their matching engine; the exchange is not controlled by any company and is software downloaded so you can run a peer-to-peer platform to connect with others on the network. Users can purchase bitcoin with a bank transfer as long as it’s supported by SEPA or OKPay.
3) Altcoin.io
Founded in 2017, Altcoin.io is a decentralized exchange (DEX) and peer-to-peer trading solution, which was acquired in 2019 by global investment firm BnkToTheFuture. Altcoin.io promises to provide a solution to the issue of decentralized demand without relying on a third party to match buyers and sellers. It Is reported that BnkToTheFuture is looking at the acquisition as one that would give the company an expanded platform and tech to build on its existing secondary market for equities trading in crypto and blockchain companies. The company is said to have ambitions to use Altcoin.io to launch a new Securities Token Exchange.
4) Paxful
Paxful was founded in 2015 and is based in Wilmington, Delaware. The site is a peer-to-peer Bitcoin buy and sell site where anyone in the world can trade fiat for Bitcoin or vice versa. The only exception and jurisdiction where they cannot operate is the state of New York as they do not have the required BitLicense. Paxful is a peer-to-peer digital asset trading platform popular for connecting buyers and sellers and is especially utilised by cryptocurrency users in Africa, Asia, South America and other developing or emerging markets. Start peer-to-peer trading on Paxful now!
LocalCoinSwap is a Hong Kong based peer-to-peer exchange was founded in 2015. The platform allows traders in any location, to directly trade any cryptocurrency (including Bitcoin, Ethereum, Ripple and Lisk) using any method of payment. LCS users receive 100% of the traded profits from the marketplace and votes together in a proof-of-stake system to decide how the exchange should operate. As a a community-owned, peer-to-peer (P2P) cryptocurrency exchange that connects people from all around the world.
Originally published on https://decentralised.africa/
Peer-to-peer (P2P) marketplaces have revolutionized online shopping by connecting buyers and sellers directly. Among the most popular platforms is Etsy, a creative hub for handmade, vintage, and unique goods. Etsy allows sellers to showcase their artistry, while buyers can discover one-of-a-kind items. However, some users have expressed concerns on sites like https://etsy.pissedconsumer.com/review.html sharing both positive and negative experiences. Other notable P2P marketplaces include eBay, Poshmark, and Depop, each offering unique features to cater to various niches, from fashion to collectibles.