MEXC, a crypto asset exchange, offers P2P transactions for users that are safe, easy to pay, and easy to purchase. However, some people don’t know what P2P is in the first place, so I wrote an article that includes the differences between it and blockchain. By knowing the meaning of P2P trading, you may become interested in actual trading.
What is P2P trading? What kind of thing is it?
P2P is an abbreviation for peer to peer. There is no central institution or equipment, and transactions are carried out between end terminals. Therefore, since trading is not done directly through an exchange, in many ways it is left to the discretion of the traders. This is a famous transaction in trading such as 1on1. Just confirm, place your order, and click to complete the transaction. Prices and quantities are determined by users. It is a system that allows you to securely deposit additional funds from credit cards, banks, etc. and quickly pay with virtual currency.
Distribute the amount of data processing
It has the advantage of distributing the amount of data processing and allowing quick transactions. As mentioned above, P2P does not have a centralized authority, so it has the advantage that data processing is not concentrated. Even as more users connect to the network, the load on the central server is not reduced and performance is reduced.
cheating
The disadvantage is that it is not a centralized system, so there is a possibility of fraud or data falsification. Fraudulent acts by malicious users are likely to occur. Since there is no monitoring by the organization and some users are abusing it, it is not recommended for beginners.
Transaction amount is up to the user
The transaction amount will be decided through negotiation between users. As a result, the price may be higher or lower than the market price. Especially if you are a beginner, it is easy to watch your feet, so it is better to be careful when trading.
Difference between blockchain and P2P
There is a difference between blockchain and P2P. Blockchain is a “data management technology” that combines various technologies such as P2P. On the other hand, P2P is one of the communication methods that “anyone can directly connect with anyone”. “P2P” is an abbreviation for Peer to Peer, and the word “peer” has the meaning of “equal person”, “equal”, “friend”, etc. As an example of using this communication method, there is a calling application such as “Skype”.
Reasons for using P2P
Why is P2P used in blockchain? The exchange currently has the program available on its website. You have the advantage of being able to transact with sellers right on the page. Also, it is easy to execute transactions because it is often traded in major currencies such as USDT, ETH, BTC, and XRP. Most of the global virtual currency exchanges are trusted and have been able to acquire listed virtual currencies through a wide variety of transactions.
zero downtime
With the client-server method, if the server or network fails for some reason, such as an attack or malfunction, the service may stop. However, in a P2P network, computers with equivalent functions participate as peers and communicate with each other to form a system. Even if the network fails, it is still possible to communicate over the network with other peers for similar reasons.
inexpensive
In the P2P network method, unlike the client-server method, the network is composed of multiple computers playing equal roles as peers. In addition, system construction costs can be reduced. No need for multiple expensive computers.
decentralized
The P2P network method is used because it is decentralized. In a P2P network, participating computers do not act like servers/clients, and authority is not centralized on a particular server. You can prevent the concentration of power by monopolizing or concealing information collected on a specific server.
P2P trading on MEXC
MEXC allows P2P transactions. Select “P2P” from “Buy Crypto” in real time. There are many patterns in which you deposit money and pay virtual currency from your wallet, or transfer it to a visa or bank account. If you have any concerns about security, please contact customer service. We will explain the risks, details, and terms of use.
Select the transaction currency and execute. Choose the available coin you want to invest in. You can also see payment methods such as legal currency, credit cards (Visa, Mastercard), and transfer methods. In addition, there are new coins and more. Reception and reflection are always at an immediate level. This is the strength of peer-to-peer projects, so it is recommended even for first-time users.
Then, prepare and select the number of tokens you would like to purchase or the amount you would like to spend. The funds to be withdrawn and invested are specified by the other party, not by you. It may be dollars, yen, euros, or even virtual currencies. Check the updated information.
The money will be transferred to the relevant bank account within the specified period.
コメント