P2P

There are many ways to trade cryptocurrencies. The most common practice is to use centralized exchanges like MoonXBT and buy or sell crypto at certain price points against another cryptocurrency or a local currency supported on the platform. Alternatively, you can transact with your fellow crypto holders and swap your assets without needing to track charts and orders.

This second scenario is what we call P2P trading. In the early days of crypto, there weren’t many options to buy and sell crypto. This forced the people interested in buying or selling crypto to meet with other people in person or through online communities to barter their digital assets in exchange for other assets, like cash, vouchers, goods, or other cryptos. Even with the emergence of cryptocurrency exchanges, some traders remain using P2P despite the risks involved with in-person deals, such as threats of violence, theft, or scams.