What is P2P commerce?

P2P trading gives you more control over who buys your cryptocurrencies and from whom you buy, the price and the settlement time. While P2P commerce gives users more precise control over the process, it is vital to note that person-to-person transactions carry some risks when there is no third party to mediate the deal.

How does it work?
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​Basically, in the P2P marketplace, buyers and sellers can view and post various ads. P2P merchants can also provide a rating or feedback as an additional layer of protection for everyone involved in such a transaction.

TruBit Pro P2P uses the escrow system to secure cryptocurrencies until both parties have confirmed the transaction.

For example, if you sell Bitcoin for your local currency, TruBit Pro will freeze the funds. Once you send the Bitcoin and the transaction is confirmed, TruBit Pro will credit the buyer and you, ensuring a secure and supported transaction. If either party is not happy with the transaction, you can file an appeal to resolve the issue between the counterparties or have TruBit Pro customer support intervene.
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TruBit Pro protects both buyers and sellers in every transaction that is made and reduces the risk of being scammed. It also has a public rating system.

One advantage of using a P2P marketplace is that it gives you access to a global marketplace of buyers and sellers of cryptocurrency. You can buy and sell cryptocurrencies with people from all over the world in a couple of seconds.

When you trade traditionally, you may not receive as many payment options compared to P2P markets like the one offered by TruBit Pro.

In general, we have more than 30 payment methods available so that merchants can choose the one of their preference, and in the same way, users can.

While traditional cryptocurrency trading carries a fixed or percentage fee per transaction, TruBit Pro allows traders to connect with each other and trade without paying any commission. Not all P2P merchants offer this feature, so be sure to check their terms and conditions when choosing to trade with someone else, before placing any trades.

TruBit Pro has an escrow service that protects transactions between buyers and sellers.

TruBit Pro holds the funds and only releases them when both parties involved fulfill the terms of the deal. TruBit Pro P2P transactions must be completed within a certain time frame; if either party cannot meet the terms of the agreement, the cryptocurrencies will be unlocked.

Even though P2P transactions can be completed almost instantly once both parties have confirmed the transaction, one party may delay the transaction for various reasons. With traditional commerce, you don't have to wait for the buyer or seller to confirm before you can proceed with the transaction. In contrast with P2P, the buyer or seller can change their mind in the middle of the transaction and decide to end it.

P2P trading is still relatively new and less liquid than centralized exchanges. For this reason, larger traders who need to complete relevant transactions may prefer to trade OTC (over-the-counter) or buy/sell using the standard exchange.