Buying and selling of cryptocurrency in a reorganized way is becoming paramount and prevalent. For this reason, alternative peer-to-peer trading platforms play a vital role in helping to buy and sell virtual currencies. Additionally, the number of peer-to-peer cryptocurrency exchange platforms are increasing every year. Below are the top 4 peer-to-peer bitcoin exchange alternative platforms that you need to pay attention to while buying or selling your gold coins.
Even though the OpenBitcoin is not considered as a peer-to-peer exchange platform yet, it’s encouraging to realize that these services are being developed. While using OpenBitcoins, you’ll get access to a peer-to-peer trading platform where you get escrow protection for all transactions. This serves to minimize the risks while exchanging the virtual coins. Moreover, the platform will not ask for commission fee for any trading activity.
Developing a decentralized bitcoin trading platform can be quite overwhelming. Consequently, the Coinffeine team strived to design an open source peer-to-peer bitcoin trading platform that allows traders control of their gold coins during the transaction. Moreover, with the Coinffeine peer-to-peer trading platform, you’re guaranteed of the privacy of your personal information.
Additionally, the operational cost required to run this alternative peer-to-peer platform is quite minimal. Currently, Coinffeine does not charge for its services, although this might change over time.
This is one of the greatest peer-to-peer currency exchanging platform that is receiving overwhelming attention from traders the world over. Bitsquare is an open source desktop app that allows you to buy and sell bitcoin and other cryptocurrencies. Even though the installation of the proprietary software might be a stretch too far for small traders, it’s important to consider this P2P trading opportunity. Additionally, Bitsquare comes with a novice-friendly and simple user interface that is easy to navigate.
For instance, there no registration is required when installing the software which makes it’s more appealing to most first time traders. Additionally, the Bitsquare software does not hold your funds, and it will not ask for your personal information during the process. Currently, this is also one of the most reliable types of P2P bitcoin exchanging platform software to be created.
LocalBitcoins is the leading trading platform for peer-to-peer bitcoin merchants like you. While LocalBicoin is not decentralized, it goes an extra mile to prove that centralized platforms can be used in the peer-to-peer trading activity as well. It seems that LocaBitcoin is receiving more volume every week since new records are being regularly set. With the availability of a ready market across the globe, LocalBitcoins is the most famous P2P bitcoin trading platform in the world.
Cryptocurrency is revolutionary because it’s use has eliminated the need for centralized financial institutions such as the traditional banks. All you need is reliable internet connection and you’ll be ready to transfer payments across the globe. Nevertheless, you’re required to exchange your alternative cryptocurrency for another or sell your bitcoins for physical cash. For this reason, you have no option but to use alternative peer-to-peer trading platforms when selling or buying the virtual coins.