CRYPTOCURRENCY; TAKING OVER THE DIGITAL MARKET
Cryptocurrency is really gaining accolades and prominence than ever before. The digital currency is now being incorporated into this digital era, naturally. Many firms are investing in cryptocurrencies and incorporating it into their business due to the highly effective, swifter, and cheaper and more seamless mode of transaction.
Pros of Peer To Peer Trading
• No matter the direction of the market, you can always make profit as long as you effectively handle your trade. Hence, whether it is bearish or bullish, Peer to Peer trading is one of the favorable ways of earning money from Bitcoin or other cryptocurrencies.
• If you are a Bitcoin lover, you would definitely find peer to peer trading an excellent way to stack Satoshis during an extended bear market without incorporating margin trading or lowering button exposure. This way you can form a while new different source of income for yourself. Thus can actually be a relief from laboring in an office job and staying cooped up in one all day long. You get to earn sustainable income while travelling around the world. Trading Bitcoin can continuously become a very profitable interest.
• You can earn from Peer to Peer trading through referral scheme. This is more like a passive form of income. Some Peer to Peer exchange platforms offer referral programs where you get a small percentage when your referee makes a transaction. This is a very smart way to earn little supplementary income even when you are not trading. Although if you are able to refer a lot of people, the referral bonus could be in a longer portion by the end of the day.
Cons of Peer to Peer Trading
• It is very possible to fall victim into scams such as your trading partner pulling a third party account trick you. They present a third party's account information and deny payment into the account while refusing to release the crypto you paid for. It is very important to always verify identity before making payment. Always check if the name of the individual matches that of the account.
• Another scheme you might fall into in Peer to Peer trading is the reversible payment. The dubious individual contacts their banks after making the payment and claim that they never made any purchase. The bank then cancels the purchase made. When this happens, you end up losing your crypto. This is why it is very vital to always request for proof of payment; hence the individual would not be able to deny not making the purchase.
Guides to help increase profit
• Always respond to trading requests as quickly as possible in order to build your reputation. There are some sites that set very high standards for swift completion of transactions as well as including a review feature where other traders can comment about your services.
• Try as much as possible to be approachable and friendly to clients. If you help out new traders. They are most likely going to return to trade with you.
• To ensure you get the Best p2p exchange, make use of payment methods that are in demands in order to satisfy most of your traders.