Agios (OP)
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August 18, 2020, 05:30:19 AM |
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All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange. In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace. The role of the stock exchange manager is only to bring together the seller and buyer of assets directly on one platform. In other words, for example, if you want to sell Bitcoin, you have a trading booth on that platform. It is also possible to place ads on that platform by specifying the selling price of the asset. The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.
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Charles-Tim
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August 18, 2020, 07:25:11 AM |
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This is a good topic but not new anymore on this forum. You did not provide examples of p2p exchanges. You can check the thread below for p2p exchanges. https://bitcointalk.org/index.php?topic=5224711.msg54697812#msg54697812P2p exchnages are one of the best, you will be able to dialogue with your seller or buyer. But there is one thing about the exchanges, someone needs to be careful, there are many people using such exchanges to scam, that is why it is good to never receive bitcoin from escrow until you a buyer has paid already. Also, if seller did not release the bitcoin in the escrow in time after successful payment, it is very good report the person to customer care before the time-based escrow expires. There are many people using it to scam, but if all conditions are fulfilled appropriately, it will not result into scam. A Bitcoin exchange transaction resulted in a user getting scammed as a spoofed SMS message from a payment app made it seem that the attacker executed the payment. https://cointelegraph.com/news/scammer-spoofs-sms-identifier-to-steal-funds-from-bitcoin-user
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teosanru
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August 18, 2020, 07:34:04 AM |
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All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange. In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace. The role of the stock exchange manager is only to bring together the seller and buyer of assets directly on one platform. In other words, for example, if you want to sell Bitcoin, you have a trading booth on that platform. It is also possible to place ads on that platform by specifying the selling price of the asset. The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.
Wait a second? Isn't every transaction on every exchange a P2P transaction? We actually sell to someone who wants to buy it then what's the difference that you are talking about? If you are saying that the buyer seller can set their own prices then truth is that why would they set price above below the current market price? Both would want best for them? And even if one of them agrees to compromise that price could become the new Current Market price. Isn't that how a market is formed? If you think centralized exchange prices are manipulated try Decentralized exchanges. I think a direct dialogue with the other party would just make the process slower. Edit: oh you are talking about local bitcoin type exchanges. They are highly risky and too slow. They should be and are used only when a person wants to sell crypto for fiat. And that fiat pair isn't listed anywhere. Wazirx in India allows fiat withdrawal in this way but the prices are really on the CMP you can expect a variance of around +/- 0.5-1% at max in rarest of cases
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maydna
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August 18, 2020, 07:34:21 AM |
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I wonder how much the gap price will be when you buy bitcoin at p2p exchange? Is it the big gap price until more than $10 or $100? I still prefer to buy bitcoin from the local seller or local exchanges, at least, when I purchase on that way, I know where the address of the local seller or where the office of the local exchange, so I don't have to worry if I will get a scam. But we have a different method of how to buy bitcoin, so we can choose what we like.
But not many new people will use p2p exchange as they want to buy bitcoin without waiting for a long time. They will select what they want without getting force by any people.
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Bitcoin_bullish
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August 18, 2020, 07:52:18 AM |
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Wait a second? Isn't every transaction on every exchange a P2P transaction? We actually sell to someone who wants to buy it then what's the difference that you are talking about?
Centralized exchanges offer their own services to trade and not the coins networks (blockchains). They keep records on their own centralized servers. They don't sent transactions on the blockchain for every trade. The fees we pay to trade on CEX's are not miners fees. Withdrawals only contain miners fees. P2P means no third party is involved, or its involvement is strictly about facilitating the P2P trade by bringing together a buyer and a seller (by listing their offers) and perhaps performing escrow services (which are acting as third party though).
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boyptc
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August 18, 2020, 11:07:27 PM |
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The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.
Then there's no difference at all with that description through the usual exchange. As buyers can also simply put up a lower price which how much they want to but the thing is, no one is willing to sell it at a lower price unless the market drops and reaches the price that has been set.
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romero121
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August 18, 2020, 11:17:30 PM |
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You won't be getting at a cheaper price with the P2P Exchanges, because this is being done same as that of the trade done on the exchanges towards the USDT pair. Here also traders have their own profit margin, which will be above the market price. Recently I bought bitcoin when the price was around $11200, but what I paid was $11900. The difference that's been found is the profit margin set by the trader.
The possible ways of buying cryptocurrency to be cheaper is through our forum. At times people try to convert bitcoin to USD or to PayPal. One can make use of that, but not the P2P exchange for low price buying.
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Casdinyard
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August 18, 2020, 11:20:31 PM Last edit: August 18, 2020, 11:58:10 PM by Casdinyard |
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All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange.
The difference would not be noticed that much even you got it on a cheaper price.Those p2p exchanges also sets their buy and sell price according to their will, it's also the same on exchanges that are centralized. The chance that you can buy it at a lower price, is also thr chance where you can buy it on higher price. Just think that not anyone are selling their bitcoins on much lower value. If you ever wanted to buy bitcoin for lower price, then try buying it away from exchanges. You can buy it directly to someone. A friend, or anyone that is willing to sell those bitcoins to you at a considerably lower price.
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kawetsriyanto
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August 18, 2020, 11:25:22 PM |
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All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange.
You probably will get a cheaper price than in the common exchanges (DEX/CEX). But, will it be a high gap in price that you will get? Additionally, a transaction in P2P mostly will take longer time, this is not exactly available for fast transaction. So, if you are a trader or arbiter, it will not be suitable for you. It is good if you are not in a hurry and only make crypto for long term investment. Then, P2P commonly also has low trading volume, so it will impact on the low chance to be successful in the transaction. So, should we really use P2P? Once again, it needs high carefulness if going to do P2P transaction because there is a higher chance for scams. Whatever the choice of exchanges or ways of the transaction, it should fit your needs and strategy.
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Yamifoud
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August 18, 2020, 11:55:59 PM |
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I'd never find it being possible at this time since the price keeps pumping. It for sure no one will sell their Bitcoin in cheap just for you...lol
Where have you been when the price is still below $10k if you have taken that chance, definitely you have been profiting this time. If you are looking cheaper price that of the market demand these days, you have nothing to do but to wait and watch the market to dump. That is only the chance I'd see unless if there is someone would offer you a lower price.
I'd say that you missed the train already. You either to wait for the dump or to invest now. The market will turn bullish soon and investing by now it seems to be a good idea than to have regrets.
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Wexnident
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August 19, 2020, 01:35:10 AM |
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Yes, p2p trading is cheaper but it's also as said by others, riskier. Plus, most wouldn't even bother buying like such since most are actually into trading instead of using it/hodling. There's also the issue of never-ending changing prices every minute, though unless a huge dump occurs, the difference shouldn't be that huge. Transactions may be slower, but honestly, it's just a matter of organizing the transaction. If you, the buyer, were to prepare beforehand some of the issues to be talked about, such as escrow and the like, the time shouldn't be that long, though it would still take longer than using CEX normally. Edit: oh you are talking about local bitcoin type exchanges. They are highly risky and too slow. They should be and are used only when a person wants to sell crypto for fiat. And that fiat pair isn't listed anywhere. Wazirx in India allows fiat withdrawal in this way but the prices are really on the CMP you can expect a variance of around +/- 0.5-1% at max in rarest of cases
Well, it depends on how you work around it. With escrow and a bit of time to organize, it should be rather easy though it really isn't the best way to buy, especially if you're trading. But if you're just hodling or using it for your own, trying it out may prove to be useful since it guarantees complete anonymity.
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Sadlife
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August 19, 2020, 02:07:47 AM |
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I've just read about it, and there's some questions on my mind about this type of platform. Who manage it? I mean maintaining the site exchange regularly? Yeah let's say its open source but what if the community stops supporting? It would encounter some critical bugs that will surely lose all your funds. Decentralization is all and good, but the safety of assets is my prime concern. What i need to see is a large community like in uniswap smart contract that's based in ETH blockchain.
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bitmover
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Crypto Swap Exchange🈺
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August 19, 2020, 02:25:06 AM |
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In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace.
Bullshit. There is no such thing as a manager regulating prices in exchanges. So you think you will buy bitcoin cheaper from someone else? And who is the idiot that will sell you bitcoin below the price? If you find someone who wants to sell bitcoin for 6k , you can be 100% sure you are going to get scammed. Nobody will sell bitcoin for a price lower than the exchange price. This is because he can just sell at an exchange.
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tranthidung
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Farewell o_e_l_e_o
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August 19, 2020, 03:03:00 AM |
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For P2P marketplaces: keep in mind that the more greedy you are, the higher risk you will take. Don't ask for safe trades if you always want to trade with too high discounted offers that mostly come from scammers and newbie trade partners. In contrast, choosing old, trusted partners with lower discount offers will help you safe. They are similar to two sides of a coin and you can not ask for both at the same time. For BestChange: choose your locations, payment methods and get list of available exchanges from which you can choose the best one for your trades. For any exchanges or P2P marketplaces you use, beware of phishing sites, like these
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mk4
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Paldo.io 🤖
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August 19, 2020, 03:07:54 AM |
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Who manage it? I mean maintaining the site exchange regularly? Yeah let's say its open source but what if the community stops supporting? It would encounter some critical bugs that will surely lose all your funds.
Peer-to-peer platforms such as Bisq also has their own developers, so it's not entirely the fact that only the community are making code changes. Also, sure there could be bugs. It's just that in my opinion the chances of having super critical bugs is highly more unlikely compared to the Ethereum "DEXs". Decentralization is all and good, but the safety of assets is my prime concern. What i need to see is a large community like in uniswap smart contract that's based in ETH blockchain.
Truth be told, we really don't have any really decentralized exchanges today. Even Uniswap is somewhat centralized, just non-custodial. Also, Uniswap has Wrapped Bitcoin(WBTC). Though I'm definitely not a fan, it's an option if you're willing to take the risk.
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Curated Crypto Airdrop Database
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maydna
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August 19, 2020, 04:50:13 AM |
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~snip~
If the discount price is not too big then I will just buy in the typical exchange without dealing with long talks or asking for more discount for less hassle. Those who do this transactions are sometimes have issue in their exchange and in need of fast transaction mostly. I think its better to do transactions here in forum as we can tagged them flag if they will do something in case of transaction with them, there are already many trades here in forum buying BTC some also can be thru loan depending on terms and escrow. I don't think that the discount price will be too big. If that so, I still prefer to use the exchange that I already used before, whether that exchange used KYC or not because I see that can help from searching the exchange. Doing transactions on here will be another option as we know that this forum has many reputable members who will help people buy and sell the bitcoin. Besides that, with support from the escrow agents, our transaction can finish by smoothly.
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Darker45
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August 19, 2020, 05:30:38 AM |
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In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace.
So you think you will buy bitcoin cheaper from someone else? And who is the idiot that will sell you bitcoin below the price? If you find someone who wants to sell bitcoin for 6k , you can be 100% sure you are going to get scammed. Nobody will sell bitcoin for a price lower than the exchange price. This is because he can just sell at an exchange. He's probably referring to the exchange's Bitcoin selling price and not Bitcoin's traded price. The selling price of BTC as per Binance's classic trading platform, for example, is already at $11,786 right now. But it's not the price of Bitcoin if you are to directly buy from them and not trade. If you are actually buying BTC, not trading, using bank deposit or credit card you will certainly be paying a much higher price. However, if you prefer to buy through their P2P, it may happen that the price is actually cheaper. You can actually buy BTC at $11,450, that's lower than the traded price and way cheaper than Binance's Bitcoin selling price.
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jerry0
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August 19, 2020, 05:38:34 AM |
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Do sellers on localbitcoins sell btc for a lower rate than coinbase or higher rate or about even?
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GeorgeJohn
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August 19, 2020, 06:16:23 AM |
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All traders want to always buy Bitcoin at a price cheaper than the market price. Apart from buying and selling on the ordinary, centralized crypto asset exchange, there is another option, namely a peer-to-peer exchange. In this exchange, asset prices are not “regulated” by the exchange manager, but directly by the users. In principle, a peer-to-peer (P2P) exchange is a crypto asset exchange that is similar to an online shop, aka a marketplace. The role of the stock exchange manager is only to bring together the seller and buyer of assets directly on one platform. In other words, for example, if you want to sell Bitcoin, you have a trading booth on that platform. It is also possible to place ads on that platform by specifying the selling price of the asset. The advantage of an exchange like this is that the seller is free to determine the selling price as he wishes and the buyer can freely look for price variations on the exchange. Buyers can even get a much cheaper price than buying on a regular exchange.
The reason i seen that makes traders to look for a cheaper rate btc to buy is because traders never believe that then will make benefit for their transaction, the problem is that people will still sell to them at a cheaper rate because them know them but it's difficult for ordinary person to buy btc at lower rate. Even some platform's will even loan their btc to traders in order to make profit,using bank as a reference,it's very difficult for bank to loan individuals, most especially youth's who want to startup a business but bank will invest peoples money into forex trade.
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Findingnemo
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August 19, 2020, 06:52:45 AM |
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It is true that you can set your own price while trading on peer to peer trading platform but do you ever wondered why anyone has to sell their bitcoins cheaper than the market price, and also you need to remember if you are going to place a buying advertisement then higher the price will be in the top of the list and if you are setting too low fee means you will be on the last pages and no one ever see your ads.
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