For new crypto traders, the first step to invest in crypto is to convert the fiat currencies to crypto. P2P is regarded as the best way for newbies to buy crypto via fiat with lowest fees and high-security. As the name suggests, P2P is peer-to-peer, which means a user is trading directly with another user without a third-party or platform.
KuCoin Expands Its P2P Feature to Improve Investor Protection
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In the early stage of crypto, there was no advanced crypto platform to match the buyer and seller, so crypto holders had to find their trading counterparty through Telegram groups or Bitcoin forums. The buyer sends fiat to the crypto seller, then the seller transfers crypto to the buyer’s crypto address. Without any third party involved, such trading can be risky as there is no guarantee that the two parties will make the transaction as promised. For instance, if the seller does not send the crypto after receiving the fiat, there’s almost nothing the buyer can do.
On the KuCoin P2P Trade Platform, KuCoin safeguards the transaction by offering an escrow service, ensuring the safety and fairness of every trade. Simply put, the buyer can place an order on the KuCoin P2P platform, and the seller’s crypto will be temporarily frozen by KuCoin. The buyer must then send the fiat currencies to the seller’s bank account, and once done, the crypto held will be released to the buyer’s KuCoin Main Account. In this way, both parties can ease their fear of the default risk of their counterparties.
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KuCoin P2P Trade Platform
Compared with other competitive P2P trading platforms, KuCoin P2P has a number of appealing features and advantages. First of all, as the world-leading crypto exchange with over 600+ tradable assets and serving over 10 million users worldwide, KuCoin provides crypto users with the best trading experience with high liquidity and innovative products. Moreover, users can make the transaction easily and smoothly with zero fees on KuCoin P2P. The transaction usually takes a few minutes, so you will not miss any trading opportunities in the rapidly changing crypto market. With a number of professional merchants providing deep liquidity, KuCoin P2P offers a competitive USDT price in comparison with other P2P platforms. Furthermore, more local payment methods are supported, like local bank transfer: IMPS and UPI, Momo in Vietnam, and Paytm in India, making it comfortable and easy to invest in crypto with fiat currencies.
Security is the first priority of investment. Due to the escrow mechanism we touched on above, when you place a BUY order, the relevant assets of the merchant will be frozen by KuCoin. Even if the merchant didn’t release the crypto after you confirmed the payment by clicking/tapping the “I Have Paid” button, the platform will deal with it after checking your payment. So the whole process is secure and safe. To provide a high security investment environment for investors, KuCoin also expands its P2P feature and security measures to improve investors protection.
Professional and Reliable Merchants
To protect users from fraud, KuCoin offers a professional merchant team. All the KuCoin merchants undergo a strict selection process. Merchants that cooperate with KuCoin are required to offer favorable prices and quick responses to our users. The Golden Merchant Program, Merchant Weekly Ranking, and regular Merchant Qualification Tests are also being held by KuCoin to improve the P2P services.
High Security and Stable System
With a robust system and a growing global professional merchant team, KuCoin P2P has been able to cover users’ business needs in most markets around the world.
Extremely User-Friendly Funds Protection Policy
Only Vetted and verified merchants are allowed to sell crypto on KuCoin. Each merchant on KuCoin has a safety deposit to ensure buyer protection. KuCoin Escrows and holds merchant funds for 24 hours, if the buyer doesn’t complete the order.
Education
KuCoin offers plentiful educational content for users to learn how to get started with KuCoin P2P and manage the risk of P2P trading. By having access to this information, users are protected and encouraged to transact discreetly.
Closing Thoughts
The P2P Trading market has grown rapidly in recent years. With a huge wave of traditional liquidity pouring into the crypto markets, a number of P2P trading platforms were built to bring the fiat-to-crypto service to crypto investors. With the unique advantage and high security, KuCoin P2P becomes the best place to buy crypto with fiat currencies. Investors and P2P traders can trade freely and securely through KuCoin P2P. In addition, the protection for users by KuCoin P2P also clearly demonstrates the brand's mission to protect users' funds and provide quality services while driving innovation and growth in the crypto space.
Note:
1. The payment needs to be done manually by the buyer. The KuCoin system does not provide the fiat currency deducting service.
2. The token you purchase will arrive in your Main account. Please transfer it from the Main account to the Trading account for Spot trading.
Video Tutorial: How to buy and sell Bitcoin/Crypto on KuCoin P2P (2022)
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