As businesses move towards digital transformation and Industry 4.0 advancements, companies need to focus more on their future expansion. It is because optimizing the business processes with ever-evolving customer demands gives an edge in the competitive domain.
With the evolution of blockchain technology over a few years, how customers and business partners perform transactions has changed significantly. Now, individuals prefer convenient crypto-based exchanges to complete transactions to keep their privacy intact.
To achieve more traction in the respective industry and onboard new customers, businesses need to integrate a full-fledged P2P cryptocurrency exchange. There are several benefits in offering a future-driven way of executing the transactions. On this note, let's explore what exactly is a P2P cryptocurrency exchange and how it can transform your business.
What is a P2P crypto exchange?
A bespoke P2P cryptocurrency exchange aid seamless transactions among two parties without any third-party intervention. With this distributed and peer-to-peer ecosystem, both privacy and user identity are protected. P2P cryptocurrency exchange automatically connects two parties based on mutual pre-defined agreeable terms. A P2P crypto exchange matches individuals behind transaction orders instead of checking the transactions in the order book.
With these unique working methods, peer-to-peer cryptocurrency transactions are gaining massive popularity among B2B and B2C businesses. As most individuals now use blockchain-based crypto wallets to perform quick transactions, having a P2P setup will do wonders for businesses.
As it's based on a distributed ledger technology, individuals can't forge or manipulate the present data, personal information, or ongoing transactions. It is because the data gets verified on multiple blockchain nodes, and it's impossible to mark the changes in a never-ending chain of these nodes.
Groundbreaking P2P Cryptocurrency Exchange Features for Businesses
When businesses integrate a cryptocurrency exchange with their existing transaction systems, it becomes much easier for company owners to scale the business worldwide. Be it business scalability or 360° security, the benefits of opting for this future-focused implementation are many.
Easy business scalability
The most significant advantage of opting for a P2P cryptocurrency exchange is seamless business scalability globally. As most individuals and companies are using crypto wallets to perform transactions, it's the right time to grow presence within new customers. Compared to traditional methods, crypto exchanges don't require complex approval to scale the business and give a competitive edge.
Whether you are into B2B business, or E-Commerce industry, or into selling services, this advancement will help you take a step towards the futuristic disruptions happening in the global market.
Security and data privacy are the two core pillars that companies will need to build their foundation in the upcoming time. With growing digitization, cyber crimes are also taking a toll, and only blockchain-based solutions can help businesses keep their data and customers safe.
A bespoke-made P2P cryptocurrency exchange can be secured using layers of different security protocols. At Seven Bits, our blockchain developers add multiple layers of security including, SSL implementation, two-factor authentication, HTTP Parameter Pollution Protection, anti-denial of service (DoS), anti-distributed denial of service (DDoS), and more. Our experienced blockchain Center of Excellence (CoE) team evaluates, drafts, and brings in the most efficient security solutions with your P2P exchange.
Robust KYC and AML verification
As the business and customers grow, companies need to adopt more advanced security protocols to keep both their business and customers safe. For preventing fraudulent activities on the P2P cryptocurrency exchange, KYC (Know Your Customer) and AML (Anti Money Laundering) processes can bring a futuristic transformation.
Integrating both KYC and AML with a conventional payment system is tricky as several third parties are also a part of the payment ecosystem. However, it's much more efficient to launch a full-fledged P2P exchange integrated with these protocols.
Explore cryptocurrency exchange development services with us
Get started with future-focused cryptocurrency exchange development for your business with Seven Bits. Our team of experienced blockchain developers understands your business goals and brings in a bespoke solution to help you grow.
With the support of more than eight public and private blockchain frameworks, our developers can meet every business goal with higher efficiency and agility. Get in touch with us at firstname.lastname@example.org to explore more about P2P cryptocurrency exchange development services.