Cryptocurrency exchanges are portals where crypto users buy and sell cryptocurrencies in exchange for either fiat or other cryptocurrencies. The penultimate transaction for the crypto investor is fiat-to-crypto or vice versa. With the pace of innovation in the industry, it is sometimes difficult to classify these exchanges as capabilities often overlap.
In this series, you will learn to distinguish between common types of exchanges and their respective capabilities.
There are basically Five categories of cryptocurrency Exchange Viz:
- Centralize Exchanges
- Decentralize Exchanges ( DEX )
- Automated Market Makers (AMMs)
- Instant Exchanges
- P2P Exchanges
P2P exchanges allow their users to list how much cryptocurrency or tokens they want to buy or sell in exchange for fiat or another cryptocurrency. Other users can then negotiate with them. If the settlement is in fiat, it can be made via wire transfer, bank transfer or even in cash. These exchanges use escrow services to hold the seller’s cryptocurrency until the counterparty pays for it. Once the payment is confirmed, the cryptocurrency is released from the escrow. Timbuktu is one of the P2P exchanges. https://timbuktu.exchange
Timbuktu, a third party P2P marketplace built on the Bantu Blockchain Infrastructure a 100% non custodial and it is the first truely non custodial P2P platform in the world. The Bantu Blockchain with internal capability to accommodate KYC/AML and identity management. In other words, Bantu Blockchain Infrastruture make sure that users are genuine.
In Timbuktu, escrow deposit does not go to an individual. it goes to the escrow secure wallet no individual has access to it.
That is the reason for the BantuPay app button and the QR code you scan, it puts all the information and you cannot change it.
A trusted peer to peer marketplace where you can buy and sell Bantu Blockchain Tokens in minutes. Built to aligns with Regulators not just locally but also Regionally and Globally. With the rapidly developing nature of products and services in the industry, Timbuktu Exchange is redefining things whilst educating all sectors of the economy via what they’ve launched for ALL to enjoy.