Elements of a p2p crypto exchange software

Peer to Peer Exchange
  • Strengthened privacy in transactions — Since there are no intermediaries involved with the presence of an immutable and distributed ledger, transactions are facilitated in an encrypted manner. Hence, privacy is ensured throughout the entire platform.
  • Cost-effective operations — Operational costs will shoot up if there are multiple intermediaries involved. The operational costs in a p2p crypto exchange software are negligible in the absence of intermediaries.
  • Better security standards — There is no need to worry about the authenticity of the counterparties as the KYC (Know Your Customer) verification process is followed. Hence, the chances of fraud are relatively nominal.
  • Speedy processing of transactions — The current method for processing fiat money through international transactions takes several weeks. With P2P crypto exchange software, it can be done quickly, safely, and cost-effectively. Anyone can execute transactions with just the availability of an internet connection.
  • A quick solution to disputes — Whenever a dispute arises between a buyer and a seller, it is solved immediately in a p2p crypto exchange software. Parties will be asked to lock in a certain amount in the smart contract escrow before conducting the trade. Once the trade has been properly settled without any discrepancies, the escrow will release the amount from the smart contract.
  • High-performing matching engine — It matches the orders raised by different buyers and sellers quickly, ensuring low latency and maximum efficiency. It acts as the cornerstone of a p2p crypto exchange software.
  • Implementation of multi-layer security — Introduce security measures such as two-factor authentication and SSL implementation in your platform. It safeguards the users from hacking and phishing attacks by providing an extra protection layer.
  • Quick KYC and AML verification — KYC (Know Your Customer) and AML (Anti Money Laundering) come under the regulatory sphere. They identify the users through various verification mechanisms. They aim to ensure a safe trading experience with the presence of legitimate and authentic users.
  • Smart contract-powered escrow system — It acts as an intermediary while the execution of transactions takes place in the platform. It ensures secure, fast, and efficient trading between different users.
  • Real-time data analytics — To improve the user’s decision-making, the latest movements in the market and crypto price feeds are provided instantly in the form of interactive graphs and charts.
  • Referral program — To bring more traffic to the platform, an integrated referral program is created, giving rewards to users for performing certain activities.
  • Admin dashboard — It acts as a single management console for monitoring the operations that take place on a platform. It keeps track of the user’s activity and helps in adding and removing cryptocurrencies at any time.

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Aaron Silva is a well-known cryptocurrency consultant specializing in dealing with digital trading businesses. https://www.infiniteblocktech.com/

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Aaron silva

Aaron silva

Aaron Silva is a well-known cryptocurrency consultant specializing in dealing with digital trading businesses. https://www.infiniteblocktech.com/

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