Crypto trading is the bedrock of the global cryptocurrency market. To complete the four critical aspects of trading including capital deposits, order books, order matching, and asset exchange, you have to use a cryptocurrency exchange platform. Most regular exchanges use a centralized white-label crypto exchange to process transactions.
While centralized exchanges are quick and easy to use, they are often susceptible to technical failures, cyberattacks, and theft. This is where peer-to-peer (P2P) or decentralized crypto exchanges come in. They allow the seller and the buyer to complete a transaction directly without the need of a trusted third party.
P2P exchanges are steadily gaining momentum in the crypto community. For example, Paxful, a popular peer-to-peer crypto exchange, gained a trading volume of $739 million in 2018, up by 130% in transaction volume from $320 million in 2017.