[Gate.io: For beginners] What is P2P trading? Features, Advantages, and Disadvantages Quickly buy and sell crypto assets


Gate.io is an exchange with many trading formats and a high degree of freedom. That’s why there are so many users. One of them is P2P trading. This transaction is also possible on Gate.io, so if you are interested, you can try it.

What is P2P?

P2P is an abbreviation of Peer to Peer. This means a communication method in which computers connected to the Internet share data equally. Generally, when communicating, there is a client server, etc., and it is common to communicate via this server. However, P2P does not have a client server, and it means that each individual exchanges directly. There is no hierarchical relationship between computers, and data can be shared equally.

Advantages and disadvantages of P2P

P2P trading has the following characteristics. There are both advantages and disadvantages, so consider carefully.

Always communicate

P2P is client-server agnostic, as explained above. There is an advantage that individuals can connect at any time as long as they are in the internet environment. Since access is not concentrated on the client server, there is almost no load on the computer, and it is unlikely that the entire system will go down.

high anonymity

In P2P, data is distributed to an unspecified number of computers, so it is rare for all information to be grasped. Therefore, you can work anonymously, so the risk of your identity being revealed is low.

Data falsification or hacking

On the other hand, since P2P exchanges data privately, there are risks such as virus contamination by malicious users and hacking risks. It can be said that the P2P form is more risky than the client-server form.

rip off price

For better or worse, P2P transactions are personal transactions. As a result, the price can be as low or as high as long as both parties agree. Therefore, if you are a beginner, there is a risk that you will be sold at a price that is too high. In P2P, exchanges do not intervene, so individuals need to decide everything.

How to start P2P trading

To start P2P trading, you must first open an account. The account opening is introduced in the following article, so it would be nice if you could refer to it. Of course, please complete everything up to identity verification.

After opening an account, log in. Select P2P from virtual currency purchase at the top of the screen.

Source : Gate.io

You can participate by buying, selling, choosing quantity, currency and even payment type and pressing a button. By the way, it is also possible to set legal currency in P2P.

Source : Gate.io

Gate.io features and functions

Gate.io is a popular cryptocurrency exchange where large institutional investors also invest. Deposits can be made using virtual currency (Bitcoin), bank transfer, P2P, credit card (VISA), etc. It is also safe as it has excellent security and supports two-step authentication. The platform also has its own system. There is also a community where users can exchange opinions with each other.

There are many coins available

Gate.io handles the largest number of coins among all virtual currency exchanges in the world. Covers major altcoins such as BTC, ETH, and USDT. Funds can also be transferred to classic accounts and portfolio accounts. You can start trading from both the mobile app and web browser. The support center is also reliable.

Wide variety of transaction formats

Another advantage of Gate.io is its wide variety of transaction formats. Futures trading (derivatives), margin trading, spot trading, ETFs, liquidity mining, and staking are also available. Order history can also be downloaded, allowing traders to easily use it for tax returns.

Many events are held

Gate.io holds many events and auctions such as startups, and you can get newly listed coins through airdrops. There are also plenty of bonuses and campaigns, and you can check the latest information each time on the official website.