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When you buy or sell cryptocurrencies using a traditional exchange, you don't get to transact directly with the counterparty.
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When you buy or sell cryptocurrencies using a traditional exchange, you don't get to transact directly with the counterparty.
Cryptocurrencies leverage blockchain technology to gain decentralization, transparency, and immutability. Binance p2p is a peer to peer trading platform. It gives total control to traders and makes trading cryptocurrencies possible everywhere. If you own cryptocurrency already, you can lend it and earn up to 11 % apy, depending on which crypto you receive as payment. Localbitcoins exchange is completely supported in more than 240+ countries all over the world including india. All of them operating under the same communications protocol, with the aim of creating a huge network to share information of any kind. For instance, trader a has 2 bitcoins to sell, he/she gets matched with trader b that wants to buy the same amount of bitcoin. So that traders can directly buy and sell cryptocurrencies without any intermediate. In c2c transactions, users will buy and sell directly with other users. When you buy or sell cryptocurrencies using a traditional exchange, you don't get to transact directly with the counterparty. P2p trading is the act of buying and selling cryptocurrencies directly between users, without a third party or intermediary. A centralized exchanges involve intermediate facilitator to carry out the transactions. P2p marketplaces are very popular in regions with uncertain regulations on cryptocurrency use, like nigeria, ghana, kenya, and india.
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The three ingredients that make a cryptocurrency are:
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