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Peer-To-Peer Exchange

Definition

A peer-to-peer exchange is a decentralized platform or system that allows individuals to trade cryptocurrencies directly with each other without the need for an intermediary. Transactions are facilitated by smart contracts or escrow services that ensure fair exchange between participants. This model prioritizes user autonomy and reduces reliance on centralized entities, mitigating risks associated with custodial services. It often supports a wider array of payment methods and geographical access.