natsha watson
by on January 5, 2022

13 years since the emergence of Bitcoin, virtual assets are providing high returns to investors. Likewise, there is one platform that facilitates trading without the absence of third parties. It is none other than Paxful. With a user base of more than 6 million, it has become the top choice for Peer-to-Peer (P2P) trading. Entrepreneurs can also make waves in the digital economy with a Paxful clone.

How does trading happen on an exchange like Paxful?

  • Individuals and corporate enterprises should register on the peer-to-peer trading platform similar to Paxful. They can verify themselves after submitting their email address and phone number.
  • Later, buyers can see the prices of different cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and stablecoins like USD Coin (USDC) and USDT (Tether).
  • They can enter the number of units they wish to buy, the payment method, and the amount they wish to spend in fiat currency.
  • Later, investors should tap the find offers button. They will receive data about the names of the sellers, their location, the accepted payment methods, average trade speed, and the conversion rate (fiat to US Dollar).
  • How is a secure trading experience ensured for crypto buyers and sellers? Cryptocurrencies are locked in escrow until the trade gets completed.
  • This prevents disputes. Importantly, retail and institutional investors can also share their feedback via a rating system. Thus, buyers and sellers across the universe will trade only with experienced and trustworthy traders.
  • Where can traders store their funds? They can deposit their crypto holdings in a digital wallet and safeguard them with passwords and private keys. This enables them to manage portfolios effectively.

Wrapping Up

Are you an aspiring cryptopreneur looking to establish a P2P trading platform? Connect with our prolific developers now and create a Paxful clone soon.

Posted in: Technology
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