Bitcoin is one of the most popular digital currencies that have gained widespread application within a short span of ten years. Bitcoin is also called the “peer-to-peer” currency, which means that it is a kind of virtual currency, which is involved in the exchange of data, assets, and even information between two or more parties. In addition to individual users, the P2P network has recently started targeting some of the small-scale to medium size businesses to increase their corporate client portfolio.
Therefore, investing in cryptocurrency and carrying out transactions using digital currencies can be a lot more interesting and profitable. You can start your cryptocurrency trading experience using Bitcoins on the P2P network via top10cryptorobots.com and step into a world full of lucrative and safe income generating opportunities.
Some of the most common activities that are usually carried out on a P2P network include:
- Users sending money to any person residing in the same or a different country
- Users transferring money to any national or international business account
- Users sending money to their own account that is situated in another country
Some of the advantages of the Bitcoin P2P Network are listed below:
- It is carried out through a completely decentralized network, thus there is no central authority governing or controlling the transactions performed.
- It involves no interference from any third party who generally claims a commission or a service fee.
- Transactions carried out using the peer-to-peer network guarantees a minimum of 75% and a maximum of 90% of savings on the total transaction costs.
- During any shortfall in the exchange matches of the desired currency, the P2P network can fill in this gap by providing liquidity from its end.
- The P2P network is one of the preferable systems for foreign money exchanges, especially for those who are looking to exchange some of the common currencies such as the Dollar, Euro, Pound, or Yen.
- All firms operating on the P2P network adopt and implement anti-money laundering practices.
While a few of the disadvantages of the Bitcoin P2P Network are as follows:
- A certain percentage of money is deducted as service fees when the P2P network provides liquidity during its shortfall while matching for currency exchanges.
- The network may not be fitting or useful for those users who wish to exchange some of the smaller and less common currencies, as these are not found on the network.