With time, everything is going digital, and so are our financial systems and strategies. Cryptocurrency is predicted to be the future of finance. But to make it this huge, it will be necessary to create proper awareness about it among the users. People do know what cryptocurrency is, but when it comes to other details, such as purchasing it, they need to be made aware of the procedure and techniques. know more about bitcoin pro App by clicking here. bitcoin-pro.app
People think that the only way to purchase cryptocurrencies and crypto assets is through exchange platforms like Bitcoin Trading Software, Gemini, and others, but this is not true. Users can easily buy cryptocurrency through peer-to-peer (P2P) marketplaces such as Binance P2P and others for easy purchasing.
Must Know About Peer To Peer Method
These P2P marketplaces allow users to trade cryptocurrency directly with one another through their desired way of payment and local currency. These marketplaces bring their users a huge range of payment methods and allow using over 100 local currencies.
Overview of P2P Marketplaces
Just like cryptocurrency exchange platforms, P2P marketplaces also allow users to exchange or swap cryptocurrencies. If we have a look at the services both platforms provide, they are quite similar. The only difference we observe in both platforms is the difference in trading experience.
The usual exchange platforms work on the automated engine to process buy and sell transactions, whereas, on the other hand, P2P marketplaces are different. They allow their users to trade cryptocurrency directly with one another using the mode of payment and local currency they wish.
Peer to Peer method is the one where you use cash to buy crypto.
Peer To Peer Method in Detail
There are various platforms for P2P trading, such as Bybit. These platforms are super secure and allow users to purchase crypto with cash. This platform serves as a type of escrow service that stores your money until you are fully done with the transaction. Various cryptocurrencies can be bought through these P2P exchange platforms.
Here is a step-by-step guide to purchasing cryptocurrency with the mobile application.
Step 1
To initiate the procedure, the user has to click on the buy crypto button on the home page and then choose P2P.
Step 2
Then on the buy page, you can easily select and filter your preferred advertisers after filling in the payment method details. All the information you added states the type of transaction you will prefer to go for. Moreover, if this is your first time purchasing cryptocurrency through P2P, you will also need to make a nickname or a username to proceed.
Step 3
Now, it is time to choose your preferred publicist prior to clicking on the buy button.
Step 4
Now, what you need to do is enter the summed-up amount of fiat or local currency you are willing to pay or the number of cryptocurrencies you are wishing to receive. Then, click on buy to proceed with the transaction. After this, the user will be sent back to the main page, where the user will get 15 minutes to authenticate and make sure that the amount is safely transferred to the seller’s account. Once you cross-check the details and confirm the transaction, you can move forward with the payment procedure.
Step 5
Now it is time to wind up the process. To do so, you need to click on the payment completed option.
Purchasing cryptocurrency through the P2P platform is quite simple. Once you have received your crypto, you can see all the details of the transaction in your P2P asset history. You can also get your queries resolved by using the live chat option and getting in contact with the seller in real time.
For these platforms, there is always a customer support team available to assist users with all issues. In case of any issue, you can submit an appeal, and the customer support team will reach out to you.
Final Thoughts
P2P is just one method among other cash methods. Other than Peer To Peer trading method, users can also go for Fiat deposit and balance payment service, Visit a crypto ATM and buy crypto in person. Moreover, this method is preferred because there is no lengthy authentication procedure. In addition to this, this type of transaction is faster than other methods.
