Decentralized and P2P Exchanges
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Decentralized, or peer-to-peer, exchanges are different from regular exchanges as they allow you to control your funds throughout the entire experience, they do not require identification to buy bitcoin, and you can transact with different methods such as cash.
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Think of these exchanges as a giant swap meet where regular people can exchange their bitcoin for fiat in a person-to-person exchange. These markets allow the sellers to set their own price and decide which types of payments they will accept. These exchanges act as more of a matchmaking service than a typical exchange.​
Source = Bitcoin Magazine
Decentralized Exchanges
Below you will see a list of some of the popular decentralized exchanges.
Bisq
Bisq (formerly known as Bitsquare) is another noteworthy decentralized exchange. It allows users to control their own funds and buy BTC through a peer-to-peer network. Founded in 2014, the company is committed to Bitcoin and open-source software. You will have to download the desktop software to access the Bisq marketplace. After configuring your payment method, you will have to browse the order book to find existing offers. Then you can buy bitcoin as you normally would on a regular exchange.
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Hodl Hodl
Hodl Hodl is another decentralized exchange where you can buy BTC. It imposes fewer restrictions on buyers and sellers globally compared to LocalBitcoins. You can buy bitcoin from one of the sellers on these platforms either online or in person. There is a premium on the price you pay, as every seller adds their own markup on the price of bitcoin. But, generally, it is a good way to acquire bitcoin if you are conscious about privacy.
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Paxful
Paxful’s platform offers users the ability to trade in a peer-to-peer fashion online.
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Mycelium
Mycelium wallet’s P2P Marketplace also lets you meet in person to buy bitcoin.
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LocalBitcoins
LocalBitcoins is perhaps the best-known peer-to-peer BTC marketplace. It facilitates over-the-counter trading of local currency for bitcoin. Users post “ads” on the site where they set the exchange rate and their stock. Users can then connect with these sellers to make the purchase.
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