In recent times p2p exchanges are gaining immense popularity in the crypto sector as they are convenient, secure, error-free, and have advanced trading mechanisms. Generally, by using a P2P exchange, the user can buy & sell with each other and make a trade directly without any third parties. Due to no third-party involvement, the P2P crypto trading method has high security, transparency & affordability. This built the trust factor for the entrepreneurs to start their p2p exchanges. For initiating a p2p exchange business, many startups preferred a p2p exchange script.
P2P exchange script is ready-made software that instantly helps the startup create a function-rich p2p exchange. As the p2p exchange software possesses the same architecture as p2p exchanges, you might have some confusion about the working mechanism of the p2p exchange software.
So let us see how a p2p exchange software works…
- First and foremost is the user registration process. Your users can register their account through mail id. Once the user completes the registration process, the activation link will be mailed to the registered Gmail.
- After receiving the link, your user needs to click on the activation link and sign into the account by entering the credentials.
- Then, the user needs to provide some government-authorized documents like a driving license, etc, for KYC verification.
- Next, your user needs to link their bank account or credit/debit card for depositing a certain amount of money in the account. By doing this your user can trade cryptos easily.
- Further, your user can start their trading by posting Ads with the details like accepted payment methods, trading limits, and other information, or else they can choose any among the existing advertisements.
- When your user is satisfied with the terms of posted ads, they can exchange their cryptocurrency with the help of an escrow system. The escrow method is one of the best services which is used during the transaction. It holds the cryptocurrency safely until the fund reaches the seller. After the confirmation, the cryptocurrency is released to the respective person.
I hope now you might have an idea about the working of p2p exchange software. Knowing about working is not enough to start a p2p crypto exchange. P2P exchange script has some salient features & benefits too. By knowing them, you can launch a successful p2p exchange and earn profits in the crypto marketplace.
