Bit.team, a leading global blockchain technology company, recently announced the launch of a new peer-to-peer (P2P) cryptocurrency exchange. “It is the first multi-currency marketplace with the possibility to automate the process of buying and selling cryptocurrencies and provide users with transaction support and advanced dispute resolution services,” said Anatoly Berdnikov, founder and CEO of Bit.team.
Bit.team’s platform supports all major cryptocurrencies, including Bitcoin, Ethereum, Ripple, Dash, Litecoin and more. Unlike traditional cryptocurrency exchanges, where slow order processing, inaccurate pricing, high transaction fees and delayed confirmations present ongoing difficulties, Bit.team solves for these problems by empowering market participants to trade directly with each other without any third-party intermediary.
“Despite a tumultuous start in 2018 for digital currencies generally, there will emerge from the wreckage a number of winners,and we believe P2P exchanges like Bit.team offer unique advantages for traders and represent a welcome evolution in the crypto trading marketplace,” said Maksim Bogomolov, co-founder of HypeAnalysis.com, a leading cryptocurrency media analytics platform.
Instead of matching orders in an order book, Bit.team’sproprietary software brings together the individuals and institutions submitting those orders. Whenever a matching buy and sell order is submitted, Bit.team’s software connects the buyer with the seller, allowing them to conduct a transaction seamlessly, in real-time without any intermediaries.
In light of several high profile fraudulent transactions on traditional cryptocurrency exchanges, Bit.team acts as guarantor for all transactions on its platform, offering an additional layer of trust and protection for the counterparties. In the event of any dispute or disagreement, the parties can request someone from Bit.team to mediate and help resolve the dispute.
Bit.team users can search for the best offer for their current positions or self-publish their own buy/sell offer. Once a user finds the best offer, they can send a transaction request to the originator. After reaching an agreement on pricing and terms, the transaction can move forward. The seller sends an account number, and the purchaser transfers funds to the account via a secure online payment system. All communications are encrypted to ensure the highest level of security.
After confirmation of payment, the cryptocurrency will be deposited immediately to the buyer`s account. Investors on the Bit.team platform will never have to entrust their funds to a third party, practically eliminating the potential that the cryptocurrency can be lost or stolen since the owners maintain possession and control throughout the process. After the transaction is complete, both sides have the opportunity to rate each other, providing an open and transparent mechanism to build a community of trust.
“The decentralization of cryptocurrency trading results in lower costs and significantly faster transaction processing times for users using our proprietary software,” explains Berdnikov, “At Bit.team we are disrupting the digital currency marketplace with a faster, safer and more affordable way to bring together buyers and sellers.”
To learn more about Bit.team, visit: https://token.bit.team/