The concept of peer-to-peer (P2P) crypto exchange has become popular among crypto investors and traders after numerous instances of hacks, fraud, and other issues across centralized exchanges, like the FTX debacle. A P2P crypto exchange development, often undertaken by a specialized cryptocurrency exchange development company, enables direct interaction between buyers and sellers for trading without the involvement of a third party. P2P crypto exchange platforms are becoming a huge source of revenue for businesses in 2023.

Peer-to-Peer (P2P) Crypto Exchange

Direct bitcoin purchasing and selling are made possible via peer-to-peer (P2P) exchanges. They do away with the need for any middleman in business transactions.

In a traditional crypto exchange, users have to deposit fiat currencies to buy cryptocurrencies. But users don’t need to do the same in the case of P2P crypto exchanges. It provides users with more control over the process.

Also, Visit: The Rise of P2P Crypto Exchange after the FTX Debacle

Advantages of P2P Crypto Exchange

Before we get into the top must-have features of P2P crypto exchanges, let’s learn about their advantages. Below is a list of some advantages of P2P crypto exchanges, including decentralization, global accessibility, and more:

Decentralized

One of the major advantages of these platforms is decentralized transactions.

Zero Transaction Fees

P2P exchanges enable traders to interact and complete transactions without any fees. Sellers pay a minimal charge. Its size typically falls under 1%.

Security

P2P crypto exchanges eliminate intermediaries with the help of smart contract-based escrow services. The service help in direct trading and protects sellers and buyers against fraud. When both parties finalize a trade, an escrow account will lock the seller’s assets. After the buyer verifies their purchase, the account releases the assets and sends them to their cryptocurrency wallet.

Convenient Payment Terms

Users can make deposits and withdrawals without a bank account or a payment card. Additional payment options are frequently available on P2P sites, including foreign transfers, gift vouchers, mobile top-ups, etc.

Optimum Coin Value

P2P platforms don’t control the price. In other words, the purchaser can find the best deal.

Also, Read: Analyzing Peer-to-Peer (P2P) Cryptocurrency Exchange Model

Must-have Features of a P2P Crypto Exchange

Knowing the essential P2P crypto exchange features that your platform must have is the initial step in developing such a platform.

Below we have curated a list of must-have features that should be present in your P2P crypto trading platform:

Multiple Currency Support

Although there are over 10,000 cryptocurrencies available and ready to be traded, some of the most well-known ones are Bitcoin, Ethereum, Dogecoin, and others.

Automated Market Makers (AMMs)

AMMs are a component of the ecosystem of decentralized finance (DeFi). They enable automated and trustless asset trading via liquidity pools. Users can trade with greater flexibility thanks to this P2P cryptocurrency exchange option.

User-friendly Interface

Although not exactly a feature, the user interface refers to all platform elements that interact directly with the user. You must design a user-friendly P2P crypto trading interface that is simple to use even for individuals who are not well-versed in crypto trading.

Liquidity Pools

Users can provide liquidity pools with crypto tokens. A fixed mathematical formula establishes the value of tokens in these pools. Token holders can make a profit by investing in these liquidity pools.

Since liquidity pools provide yield farming advantages to users, they come under the P2P crypto exchange features.

Ad Posting

This feature enables users to post-trade ads to sell and buy crypto assets using fiat currencies on P2P crypto exchange.

Related Post: Peer-to-Peer (P2P) Crypto Exchange Development

P2P Crypto Exchange Development Service

You must already be familiar with the key components that a P2P crypto exchange must include. Select a P2P exchange development company, like Oodles Blockchain, to assist you with the development process once you have decided which features are essential.

We offer P2P crypto exchange development services from scratch.

To discuss your company’s requirements, we have blockchain developers for hire.

Read More — P2P Crypto Exchange Features