Peer to Peer trading (P2P) is the process of exchanging crypto to fiat or fiat to crypto from one person to another directly. In peer to peer trading, you will not exchange coins like in normal exchanges, but you will exchange by using an escrow service.
Peer to peer trading is very good because you can exchange cryptocurrencies to your local currency very easily, though not all peer to peer exchanges supports all coins. The best peer to peer exchanges are Localbitcoins and Paxful (most used and trusted), both exchanges have low fees, quick transactions, and they are safe. You can simply exchange bitcoin to Paypal or any other fiat payment method in these two local exchanges. The process is simple... For example let say you have 0.01 BTC and you need to exchange it for Skrill USD, you just have to click "sell" and select "skrill" as your payment method then you will see all the available offers at different price rates.
Peer to peer trading method is very good and useful because not all countries accepted bitcoin so you can not trade it to your bank in such a country, but by using local exchange for P2P, you will easily exchange your bitcoin(s) to any fiat payment method by exchanging with real people live using escrow.
There are many other exchanges which offer peer to peer trading method including Remitano, BinanceP2P and etc. Not all local exchanges support each country, so just check them and see which supports your country. But Localbitcoins supports almost all countries. Good luck!
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I needed this knowledge and you have explained it very simple. Thank you so much bro.
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@belemo maybe you should check this out and explore your options
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Thanks. I actually saw it on your Twitter thread and read it
Thank you @nonsowrites for recommending my article :)
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The pleasure is all mine. It is good to pass along some useful information. A lot of People in Nigeria right now need this sort of information due to the recent ban on crypto transactions
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Good stuff. I was looking for something like this.
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Thank you so much!
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