Utomarket is a Peer-to-Peer Bitcoin Trading platform

[utomarket]

The main concept of bitcoin, when it first came out, was the peer-to-peer aspect. At the time, it was never done in the finance or money industry. But what is peer-to-peer bitcoin trading? How can it really change the bitcoin game? Let’s find out.

Peer-to-peer vs. traditional bitcoin exchanges.

So, what is peer-to-peer bitcoin trading? To know what it is, you have to know the difference between a peer-to-peer and a traditional Bitcoin exchange. Both forms allow you to buy and sell bitcoins, but the process is different.

Traditional Bitcoin Exchanges

Traditional bitcoin exchanges are more used and more well-known between the two. In traditional exchanges, buyers and sellers match with one another via order books. In traditional exchanges, buyers and sellers never interact with one another. This means that they don’t know who they’re dealing with. This allows traditional exchanges to have more privacy because there are no direct interactions between the two parties.

Pros: Traditional bitcoin exchanges have faster trade times. This is because of the way trades are on these platforms. Since there is a middleman completing the trade for you, trades are faster and more intuitive.

Cons: Traditional bitcoin exchanges tend to have more expensive rates. There is a middleman organizing each trade and transaction. There are fees and they pile up with this amount of work that goes to each transaction.

It is also important to note that people are running traditional bitcoin exchanges. Users run the risk of being exploited by regulatory restrictions. An example of this was when all withdrawals were frozen for a month in China. The People’s Bank of China intervened and it affected two of the largest exchanges. As a user, this is not something you’d want.

Peer-to-peer Bitcoin Exchanges

What is peer-to-peer bitcoin trading? Where does it happen? In a peer-to-peer bitcoin marketplace, buyers and sellers match with each other. This time, they carry on with the trade themselves. This means that users can set their own requirements, set their own profit, and enter the live chat. In a sense, peer-to-peer exchanges add a personalized experience to trading. This means more efficient trades on the exchange. Although peer-to-peer platforms are less used, they are rising to be one of the best and easiest way to buy bitcoin.

Pros: There are tons of payment methods on peer to peer bitcoin exchanges. This allows more variety when it comes to trading for bitcoins. Peer-to-peer platforms also offer cheaper operations due to the nature of trading. Since there is as less interference from the platform, fewer fees are implemented on the users.

On peer-to-peer platforms like Utomarket, vendors can set their own prices. Transaction chats are also enabled. This gives the traders the opportunity to clarify things before finalizing a trade.

On Utomarket, with its escrow service, will hold the specific amount of bitcoin in escrow vault and release once the trade is completed and both parties are happy.

Cons: It usually takes longer to trade on peer-to-peer platforms. This is due to the nature of trading. Bitcoin and fiat transactions have to come through before a trade is completed. The time often depends on the person you’re trading with.

Peer-to-peer platforms also have a steeper learning curve. Newbies will have a harder time figuring out how to use the site compared to a traditional exchange.

Choosing an exchange depends on the style you prefer. To determine your style, study each kind of platform and then see which style you prefer. Always make sure to do your research before getting into any exchange.

Peer-to-peer is the future
Peer-to-peer bitcoin trading is bringing bitcoin into a new light, a more hopeful light. Not only is it easy to trade, but it can also do a lot of good for people. Peer-to-peer traders can open their business to accept bitcoin as payment using their bitcoin wallet. Also, they can trade all they want with the thousands of peer-to-peer traders out there! 

Not long ago, people think that bitcoin transaction are only for illegal activities. The great news is that the ratio of legal to illegal acts has now been flipped. Bitcoin is now in a great light and is ready to show the world that it has a lot of potentials to help the world.
Peer-to-peer finance is holding the torch for an idea. The idea of a universal currency that is accessible by everyone. Peer-to-peer is the difference we can all make to show that bitcoin is on the right path. Although the currency isn’t completely mature, it’s going in the right direction.

[alisafidel58]

In other words, peep to peer consist of more work for a trader. Traders don't have much time to sit and talk to the person on the other side of the trade.

From my point of view, it's not viable.

[buwaytress]

In other words, peep to peer consist of more work for a trader. Traders don't have much time to sit and talk to the person on the other side of the trade.

From my point of view, it's not viable.

You know, you should really look up peer-to-peer trading first. If it weren't viable it wouldn't be growing. And if your country banned Bitcoin, you'll be glad for P2P.

I do agree, it does involve a fair amount of hassle initially, or when trading with an unfamiliar party. For example, a first-time trader on Localbitcoins that you'll ask to verify first, or a trader who cancels the trade, or takes forever to make a payment.

But you don't have to sit down and talk to someone on the other side necessarily. The majority of my trades on P2P are automated. I either take an offer, complete it rightaway or I put up offers, and people take them. Bitcoin is escrowed. Only thing is to wait for payment to come through.

[Beerwizzard]

If you are advertising / announcing Utomarket exchange then move this thread to service announcement or service discussion boards.
If you are new to this forum then you will find "move topic" button on the bottom left corner.