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

in SteemitCryptoAcademy • 3 years ago

So by reading this and to know if I understood it, localcrypto.com works in a decentralized manner and support only 4 cryptos..
Localcryptos Non-custodian P2P Marketplace is only meant for buying and selling of crypto and exchange of crypto to fait currency..
Can trade be done in localcrypto.com, and the coin that this site support, how are they traded in pair since it jez 4 coin it support...as in can we see a BTC/xrp or other coin apart from the 4 supported crypto..
Or they can only pair each other that is within the 4 cryptocurrency

3 years ago in SteemitCryptoAcademy by
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     3 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.
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       3 years ago 

      Respected student thanks for the clarification...

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       3 years ago 

      My pleasure 👍

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         3 years ago 

        Respected student thanks for the clarification...

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