In 1999, When the Peer-to-Peer sharing system was introduced to the world with the Napster application, it was accepted by the community with a pinch of salt. A&M records went on to sue Napster on its basis but no one could foresee the fact that a P2P system could one day, potentially compete with the existing traditional financial system.
Over the years, Peer-to-Peer Lending has become an extremely sought-out technology, which is a direct form of lending money to individuals or business entities without the presence of a third-intermediary party.
Vastly considered as an alternate form of financing, P2P lending signifies a fairly simple process. The transactions are carried out on specific P2P online platforms, that have revolutionized the online market place in the past few years.
Now one of the major fields where P2P technology has vastly improved is the world of cryptocurrencies and digital assets. The rapid popularity of crypto alongside its fast maturation has led to P2P lending platforms incurring a greater level of efficiencies.
Bitzlato, a crypto P2P custodial exchange is currently one of the top platforms that allow its users to exchange digital assets such as Bitcoin(BTC), Ethereum(ETH), Bitcoin Cash(BCH), Litecoin(LTC), Dash(DASH), Tether(USDT), Monolith Ruble(RUBM) and Dogecoin(DOGE), without the involvement of any third-party commissions.
Some of the major features of Bitzlato P2P crypto platforms that have transformed the world of crypto lending are listed below:
1. Fast-paced and Convenience
Since the Bitzlato platform does not include third-party settlements, crypto transactions are generally processed in quick succession. The platform would have a list of sellers and buyers that have they buy/sell orders up, which would cater to a user’s need and requirement.
2. Low Fees on Crypto Trades:
One of the major problems with other P2P crypto platforms has always been the case of high commission fees, which nullifies the absence of third-party intermediaries.
One of the top advantages of trading on Bitzlato is the fact that the traders are awarded with zero commission if they are trading through another trader’s ad, and the fee is 0.5% if the trader creates the ad himself.
Additionally, on weekends and holidays, users are levied with 0% commission to trade with Bitcoin and Ethereum, irrespective of them trading through someone’s ad or not.
Source: Bitzlato
A better idea of the exchange fees is listed in the above chart.
The exchange also boasts a promotional period everyday Wednesday, which is called “the vouchers day”. A trader facilitating a transaction on Wednesday through a Bitzlato bot or the WEB version will be presented with one voucher for free cryptocurrency withdrawal.
In order to receive that, traders have to:
- Buy or Sell any digital asset using the Bitzlato platform
- The type of digital currency and amount is irrelevant
- Necessary for the transaction to be completed between 00:00:01 and 23:59:59 UTC on Wednesday.
After the following steps are completed, a voucher for a free withdrawal will be added to your account, however, the voucher will be added the next day. Additionally, the number of available vouchers is not limited hence, anyone performing a transaction of Wednesday is eligible to receive it the following day.
3. Telegram bots for an easier transition
Before Bitzlato became public as a P2P platform, it initially gained traction in the industry as a P2P Telegram exchange. Mediation in the cryptocurrency is still difficult for newcomers and Bitzlato’s Telegram Bots make it extremely simple for users to trade according to their needs. In 2016, the exchange launched its Telegram-bot BTC banker @BTC_CHANGE_BOT.
The exchange allows its traders to pick one direction depending on their level of learning. They can choose between Telegram bot or the web-version to buy and sell their crypto assets. However, the users also have the choice to merge before parts of the platform.
As the bots are integrated within the P2P platforms, users can access all the bots and Bitzlato’s services from one account.
At the moment, they are 8 active Telegram bots for trading which includes 1 Bitcoin Bots, 5 Altcoin bots for Ethereum, Litecoin, DASH, Bitcoin Cash, and Dogecoin and lastly, 2 stablecoin bots for Tether USD and Monolith.
According to the exchange, the platform is also going to introduce its mobile trading application shortly in order to make the trading experience more feasible and accessible for its users. Although a specific timeline is not fixed, it expected to come out before the end of 2020.
4. Bitzlato’s Security and Protection
The current world of online finance is no stranger to hackers and cybercriminals, lurking around to find loopholes into various platforms. P2P platforms are mostly preferred hunting grounds for illicit actors hence Bitzlato’s security system is a paramount example of protecting customer funds and capitals.
Source: bitzlato
During its past years of operation, Bitzlato has never faced any security outbreaks or breaches, as the exchange is meeting all the major security standards in the industry.
The platform keeps all digital assets in cold wallets, with only a fraction of the total available on the online platforms to facilitate instant transactions and maintain liquidity.
They exchange also undergo regular audits of the reserves to sustain transparency. Consistent network scans are carried out to detect major and alarming potential threats, with regular data backups also one of the top priorities.
Lastly, all user information and passwords are under encryption and no one, even within the exchange, i.e the employees have access to any trader information.
With cryptocurrencies becoming alarmingly popular in the industry, P2P platforms are rapidly becoming the bedrock foundation for exposure to the world of digital assets. Competing among the best, Bitzlato’s services, accompanied by high-security standards and convenience of trading in crypto, is definitely changing the course of the online financial systems.
For more information, please visit the official website.
Disclaimer: This is a paid post and should not be considered as news/advice.