It is defined as peer-to-peer or P2P. Peer means equal. Peer-to-peer trading is one of the platforms where traders can directly trade cryptocurrencies without the need for any third party. P2P is a decentralized cryptocurrency exchange platform that brings together buyers and sellers to trade directly with each other without a third party. What makes P2P unique is the elimination of middlemen. The feature that distinguishes P2P trading from classical financial markets is that the person selling the product sets the price. In other words, there is no chart, indicator, or technical analysis at this point. The seller determines the price of the asset he wants to sell themself.
On the EgeMoney P2P platform, instead of using an automatic engine to execute your transactions, you can choose your preferred offer and trade directly with the other party. This means you have more freedom to choose the best rate and payment method for your needs at lower costs. You can also better protect your privacy because you are dealing directly with a counterparty.
EgeMoney P2P platform often uses security features such as encryption and two-factor authentication to protect trade. As a result, users can be sure that their funds are safe when trading on these networks.
For example, if you meet someone interested in buying Bitcoin on social media and you want to sell it, you cannot do it on social media because it will not be safe, or it is difficult to build trust on platforms such as Facebook, Twitter as there is no P2P platform. You cannot be sure that the buyer will follow the payment after receiving the Bitcoin. However, on the EgeMoney P2P platform, you will have the advantage of being able to control it without starting any transaction. For example, the current value of Bitcoin against TL is 569,211 TL. However, a person selling Bitcoin on P2P determined the price of Bitcoin as 575,831 TL. When you receive the crypto money from the seller, after sending the money to the bank account specified by the seller, the crypto money you will receive is transferred to your account. For this reason, users do not connect to a central server or to a system that necessarily crosses paths with a central authority. They communicate directly with each other. EgeMoney P2P offers you this opportunity. Not only does it allow you to buy or sell cryptocurrency directly with another person, but it also allows you to avoid some of the transaction fees that come with traditional exchanges.
How can I complete the EgeMoney P2P Transaction?
EgeMoney offers P2P Buying/Selling. Cryptocurrency wallet holders can independently create buy/sell requests and choose their preferred payment method.
The steps you need to proceed with these processes are as follows:
Choose the “Traditional P2P Market” from the top menu.
As seen in the image, there are “I want to send” and ‘I want to receive’ options. Here you can select the unit you want to send or receive. These are the Turkish Lira, Bitcoin, Ethereum, Tether (USDT), and Tron.
- I want to send
When you choose this option, you will have selected the cryptocurrency you will send and receive to the other party. At the same time, you will be filtering the ads according to the unit you have chosen.
- I want to receive
When you choose this option, you will have selected the unit you will receive from the other side. At the same time, you will be filtering the ads according to the unit you have chosen.
You can also click on the “Post New Ad” option and proceed according to your preferences.
For example, you want to send TL and receive dollars. Here you need to select these units and select the Variable or Fixed option in the Price Type button that appears below. If you choose the variable price type, you can determine the amount according to the pricing formula. You can also choose our high-end prices, which are at least 80% lower than the market price and up to 300%.
- Pricing Formula 18.94 * 80% = 15.15 TRY
If you choose the fixed price type, you can make transactions based on the current USDT price. After making your selections, you will proceed to step 2.
Here you will be directed to the screen where you can set the Trading Amount and Payment Method. You must set a price according to the amount in your wallet and enter your Minimum and Maximum Transaction amount. You can buy and sell according to your Wallet amount by selecting the Balance (automatic) option, or you can manually select the payment method of your choice from the Other option, Terms, and Conditions.
You can determine how long this transaction will take from the Payment Time Limit button. You will then move on to step 3.
In this section, we can determine which users can trade with us. We have three options.
While conducting a buying-selling transaction, you can also choose online users to make instant transactions.
After clicking the ‘Submit’ button, you need to enter the relevant code into the field.
Then both parties will be informed via SMS and e-mail.
For detailed information about P2P, you can also check our other blog posts.
By following these steps, you can carry out the EgeMoney P2P Buying-Selling transaction. For more information, questions, and suggestions; [email protected]