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RE: Crypto Academy / Season 3 / Week 1 - Homework Post for @sapwood | Non-custodial P2P Marketplace(Localcryptos)

in SteemitCryptoAcademy3 years ago
The first thing to note down is that Localcryptos is a Non-custodial P2P marketplace that allows you to trade (buy/sell) with other traders. Being a non-custodial platform, it is decentralized just like your crypto wallets where you are in full control of your wallets. Remember, you have the private keys to your wallets on Localcryptos. In addition, you can use Localcryptos to store your crypto assets, send them to other wallets, and trade your assets with other traders on the platform..

Points to ponder

  • Localcryptos is a P2P marketplace that enables traders to interacts by buying and selling.

  • It's crypto wallet, there is nothing like trading pairs unlike exchanges because it's decentralized (without a third party involvement in transactions). You only act as a Market Maker by creating a buy/sell Ad or as a Market Taker by choosing Ads created by other users for the purpose of buy/sell.

  • Only four crypto assets are available on Localcryptos, namely; BTC, ETH, LTC, and DASH.

  • You can trade your crypto assets (BTC, ETH, LTC and DASH) to other cryptos (amongst the four cryptos supported) or trade your crypto assets to fiat.

  • Your trades with other traders are fully secured by an on-chain Escrow.

  • I hope this clarifies your curiosity @olabillions. Thank you.
    Sort:  
     3 years ago 

    Respected student thanks for the clarification...

    My pleasure 👍

     3 years ago 

    Respected student thanks for the clarification...

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