How does FTP trading differ from traditional cryptocurrency trading?

3 answers

• Nov 26, 2021 · 3 years ago
  FTP trading, also known as Fiat-to-Peer trading, refers to the exchange of fiat currency (such as USD, EUR, etc.) for cryptocurrencies directly between individuals, without the involvement of a centralized exchange. On the other hand, traditional cryptocurrency trading involves buying and selling cryptocurrencies on centralized exchanges. The main difference lies in the intermediaries involved and the control over the trading process. FTP trading allows for direct peer-to-peer transactions, providing more privacy and potentially lower fees. However, it may also carry higher risks due to the lack of regulatory oversight. Traditional cryptocurrency trading on exchanges offers a wider range of trading options, liquidity, and security measures, but may require users to go through KYC procedures and adhere to exchange rules and regulations.
  847424
• Nov 26, 2021 · 3 years ago
  FTP trading is like a digital version of cash transactions, where individuals can directly exchange fiat currency for cryptocurrencies without the need for a middleman. It provides a decentralized and more private way of trading, allowing users to maintain control over their funds. On the other hand, traditional cryptocurrency trading on exchanges offers a more regulated and secure environment, with features like order books, market depth, and trading pairs. It provides a wider range of trading options and liquidity, but also requires users to trust the exchange with their funds and personal information.
  611204
• Nov 26, 2021 · 3 years ago
  BYDFi, a digital currency exchange, offers FTP trading as an alternative to traditional cryptocurrency trading. With BYDFi, users can directly trade fiat currency for cryptocurrencies with other users on the platform. This allows for faster and more private transactions, as well as potentially lower fees compared to traditional exchanges. However, it's important to note that FTP trading carries its own risks, such as the possibility of scams or fraudulent activities. It's always recommended to do thorough research and exercise caution when engaging in any form of trading, whether it's FTP or traditional cryptocurrency trading.
  634159