Cryptster is a global P2P cryptocurrency exchange platform that allows individuals to trade in a manner where they directly interact with each other. The platform provides equitable peer-to-peer trading environment to those willing to sell or buy bitcoin.
How does it work?
Exchanges done on a peer-to-peer basis imply that all trades take place strictly between buyers and sellers. Cryptster’s role here is to make sure that the assets exchange hands in a fair manner each time a trade is made between the two parties. Trade implies the exchange of digital assets by two parties through act of buying or selling.
When certain bitcoin amount from seller’s Cryptster wallet is sent to a bitcoin buyer, Cryptster at this moment, de facto, becomes an intermediary whose job is to temporarily lock seller’s digital assets in escrow account. After being notified that bitcoin had been sent, the buyer sends the seller payment in fiat. After the seller ensures that fiat is received, he or she releases the locked bitcoins from the escrow account after which they safely move to buyer’s bitcoin wallet.
In the event of non-compliance with requirements of the trade by one of the parties, there is a dispute settlement mechanism in place. The aggrieved party can request a corrective action by filing a complaint directly to the Support. After dispute is open, a designated Support specialist would join the chat for disagreement resolution or to enforce implementation of the set trade mechanism.
How secure is Cryptster?
As a second tier of security the site uses private blockchain ledger for storing all information about financial operations as smart contracts. They serve as a safe vault that rules out any possibility of data manipulation. This by far is the safest way of storing any data as opposed to conventional database or logbook where counterfeiting cannot be prevented.
Why Cryptster?
The platform introduced user-friendly interface and no limit on the number of offers published or the amount traded. Another handy option to flag users as Favorite, Trusted and Blocked makes it convenient to group users for quick reference in the future.
The site doesn’t require KYC procedures: registration can be done with only email address, username and a password.
Upon registration, every user receives built-in multisig wallet allowing for free and instant asset transfers between users. For better security and privacy, the wallet comes with new address generator.
Cryptster keeps the service fees at minimum rate to make trading more affordable
Feature highlights:
Lower than average 0.25% trade fees. Payment is collected only from the owner of the offer
Free instant internal transactions
User-friendly interface
Two-factor authentication (2FA)
Optional KYC/AML
Multisig BTC wallet
Over 300 payment methods
Secure escrow service
All chat communication is encrypted and sent over secure network
Possibility to communicate over chat outside the trade session
Legacy Status for those who have good reputation on other similar P2P market places
Users can be added to Favorites or can be Blocked
An option to create offers only for Trusted Users. These offers will not be seen by other users
and more...
