Buying and selling bitcoin and cryptocurrency in a decentralized manner becomes more important and popular. Peer-to-peer exchange platforms have a big role to play in this regard. Moreover, the number of p2p cryptocurrency exchanges continues to increase every year. Below are some of the top P2P bitcoin trading platforms people may want to take a closer look at.
Although the OpenBitcoins platform is not available for actual peer-to-peer trading just yet, it is good to see more of these services being developed as we speak. Users will be given access to a P2P trading environment where escrow protection is offered for every single transaction. Doing so minimizes the risks for buyers and sellers. Moreover, the platform will not charge a commission or fee for trading activity. It is unclear when OpenBitcoins will launch, but the platform offers a lot of promise.
Creating a decentralized bitcoin exchange is not an easy feat by any means. The Coinffeine team set out to create an open source peer-to-peer bitcoin exchange quite some time ago, and launched their platform a while ago. As one would come to expect, users will always be in control of their funds at any point during the trade. Additionally, the peer-to-peer aspect of Coinffeine ensures personal information disclosure is kept to a bare minimum.
What matters even more to most people is how there will be far less operational costs involved with running a peer-to-peer platform. Right now, Coinffeine charges no fees whatsoever, although that situation may change over time. The only downside to platforms like these is how they may struggle for liquidity. If no one uses Coinffeine to execute trades, finding a buyer or seller can be a painstaking process. Moreover, users need to download the software to access the platform, which may be a technical hurdle few people are willing to tackle.
One of the peer-to-peer bitcoin trading platforms getting a lot of attention as of late goes by the name of BitSquare. This open-source desktop application allows users to buy and sell bitcoin and other cryptocurrencies as they see fit. Although installing the proprietary software may be a stretch too far for most novice users, it is well worth looking into P2P exchange opportunities. Moreover, BitSquare has quite a novice-friendly user interface without too many bells and whistles.
One thing that makes BitSquare so appealing is how there is no registration process involved, and there is no central point of failure. Moreover, the BitSquare software never holds onto user’s funds and does not collect any personal information in the process. It is also one of the most convenient pieces of peer-to-peer bitcoin trading software to be created so far.
LocalBitcoins is the go-to trading platform for peer-to-peer bitcoin trades. Although this platform is not decentralized, it goes to show centralized platforms can benefit P2P trading activity as well. In fact, it appears LocalBitcoins is seeing more volume every week, as new records are set on a very regular basis. With markets available all over the world, LocalBitcoins is the most popular peer-to-peer bitcoin trading platform without question.
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