Peer to Peer trading is simply buying and selling cryptocurrencies directly between users, without the intervention of a third party or intermediary. 

Peer to Peer trading allows you to decide who buys the cryptocurrencies and who to buy from, the price you will charge, and execution time. Peer-to-Peer platforms use a freeze deposit function known as “escrow” to increase the security on their platform.

Binance is one of the best and most reliable platform which provides the best escrow services.

How does this work?

When one party sends the agreed amount of crypto or money for the transaction, it goes to escrow and will only be released when both parties have confirmed the trade. If any party is dissatisfied with the transaction, they can make an appeal to the platform’s customer support department and a mediator will settle their difference.

Given the benefits that Peer-to-Peer platforms offer the traders, many platforms have sprung up in the guise of Peer-to-Peer platforms which in reality, they are just fake and deceitful. This has made it necessary that you need to know the characteristics of a Peer-to-Peer platform before embarking on that trade.