Since our vision of true democracy and decentralization depends on the choice of our means, we take great inspiration in peer-to-peer approach as a method of interactions between the members of the community. In general, peer-to-peer (also known as P2P) is a type of interaction between the parties that allows the exchange of information, assets and data without the involvement of the central authority. In the context of cryptocurrencies, peer-to-peer exchange deals with the exchange of currencies that are not created by a central banking authority. P2P exchange gives the individuals an opportunity to move currencies from their accounts to other individuals’ accounts without the need of using the services of financial institutions.
We are currently implementing peer-to-peer approach as a vital component of Syntera ecosystem and realizing it in a form of Syntera P2P exchange. In the nearest future, all the members of our growing community will be presented the opportunity to trade cryptocurrencies directly with each other without the intermediary.
What are the advantages of Syntera P2P Exchange platform?
The users of Syntera peer-to-peer platform will be allowed to perform the operations of purchase and sale of cryptocurrency and fiat money (the currencies that derive in their value from the governmental regulation or other central authorities) directly with other platform users. In other words, members of Syntera community from all over the world will be able to exchange their local currency to one of the available cryptocurrencies and vice versa.
Our team provides arbitrage and transaction security services, making the trade process safe both for the sellers and buyers. The amount of money for the trade is automatically reserved at the seller’s wallet, and can be released to the buyer’s wallet by the Syntera team, even if the seller turns out to be not trustworthy and decides to deceit the buyer. In order to protect the sellers from the unreliable buyers, they are free to release the escrow only after the confirmation upon money reception from buyers. Syntera exchange takes care of both parties and makes sure all customers will get cryptocurrency and fiat money quickly and safe.
As we believe here at Syntera, the best service is the most accessible one. We do everything we can to provide all our participants with P2P exchange platform that is accessible and convenient in use on any device. All you need to start trading is an internet connection and a computer, tablet or your phone.
Though Syntera platform is fueled by the Syntera Sharing Coin (SSC), we give the members of our community an opportunity to trade a variety of cryptocurrencies using our peer-to-peer exchange. The initially supported currencies are: SSC, BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin), and DASH.
What does the trade process look like?
The seller creates an offer on the P2P exchange, where he lists the cryptocurrency, states the amount that he wishes to sell and the rates for trade.
The buyer makes a request on the amount of cryptocurrency he is interested in purchasing.
After agreeing to trade, the seller sends the required amount of cryptocurrency to the Syntera platform for escrow.
The buyer transfers fiat currency for the purchase to the seller’s bank account.
Upon receiving the confirmation for fiat money transfer, the seller releases the escrowed cryptocurrency to the buyer.
If you are interested in our vision of peer-to-peer approach in cryptocurrency trade, stay tuned to our news and don’t miss the release of the Syntera P2P Exchange. Be the first to take advantage of the fastest way to exchange cryptocurrencies for fiat money and vice versa!
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