From being tethered to the world of finance to transcending boundaries and penetrating eclectic industries – cryptocurrencies have come a long way. The trajectory of digital currencies has been nothing short of game-changing, and neither has the revolution of exchanges. Various types of cryptocurrency trading platforms have surfaced as a result of crypto’s surging adoption and customers’ altering preferences.
Peer-to-peer or P2P crypto exchange software solutions are one of the most popular types that emerged as people’s inclination towards decentralization began to develop. Free from the authority and control posed by centralized exchanges, these exchanges facilitate a trustless economy and a secure, private, and cost-effective trading environment.
In this post, we will uncover the top 10 P2P exchange solutions that will reshape 2024’s crypto landscape. We will also walk you through the top 5 P2P cryptocurrency exchange development company considerations essential for your success in the forthcoming years.
Peer-to-peer platforms cut out middlemen and directly link buyers and sellers in a trading setting. The constantly emerging cases of thefts, hacks, and frauds from centralized exchanges have spurred the demand for P2P exchanges, prompting entrepreneurs to find a reliable P2P exchange development company.
The startling FTX debacle was one of the biggest events that turned investors onto decentralized trading platforms in 2023. However, it was not an easy year for P2P cryptocurrency exchanges as well. Three major P2P crypto exchange software companies announced their closures, including LocalBitcoins, Bitzlato, and Paxful.
The LocalBitcoins’ shutdown was attributed to the prolonged crypto winter, increased regulatory pressure, and dwindling market share, while Bitzlato was accused of failing to abide by anti-money laundering (AML) rules. Paxful also cited the regulatory environment as one of the major reasons for its shutdown, which was reversed within a month.
As many big players in the P2P exchange industry stepped back in 2023, it can be an opportunity for businesses that dwell in a restricted regulatory environment and strike a perfect balance between personal and customer interests. By joining forces with a reliable P2P cryptocurrency exchange development company, businesses can not only comply with regulatory requirements but also introduce ingenious features that will make their business stand out in 2024.
Whether you are a customer finding a secure and convenient platform for your trading needs or an entrepreneur assessing the competitive scenario, it is integral to look out for the top players in the market. Here is a carefully curated list of P2P trading platforms that have the potential to navigate the trading experience in 2024.
2. ByBit P2P
3. Huobi P2P
4. OKX P2P
5. KuCoin P2P
6. Paxful P2P
7. Gate.io P2P
Above are the top 7 P2P crypto exchange software solutions reviewed on the basis of user experience, trading fees, payment methods, customer support, security features, mobile functionality, available cryptos, etc. Those looking to build a P2P exchange like the ones mentioned above or to trail the blaze after considering what’s already in the market must partner with an experienced P2P cryptocurrency exchange development company.
Peer-to-peer exchange development extends a myriad of benefits to businesses, including:
For businesses planning to venture into the exciting world of cryptocurrencies, it is integral to choose a skilled and experienced P2P exchange development company. Our subject matter experts have thoroughly reviewed technology companies based on their experience, reviews, portfolios, etc. They have come up with the following technology companies that are ready to unravel the innovations in 2024:
With experience spanning more than 8 years exclusively in blockchain development and 700+ subject matter experts, Antier is a technology company leading the domain with its dynamic innovations. The P2P exchange development company has been at the forefront, blazing the trail and delivering cutting-edge solutions for cryptocurrency and a diverse range of other industries.
RisingMax is another runner-up offering solutions to entrepreneurs worldwide to set up P2P exchanges from nothing. Their secure and scalable P2P exchange development solutions are considered the best by their customers, which gives them a good reputation in the cryptocurrency exchange development domain. Their successful delivery of 150+ projects and high ratings on various listing websites make them a great choice for your P2P exchange project.
Suffesscom is another promising P2P exchange development company claiming to be a one-stop shop for various solutions pertaining to the cryptocurrency industry. For entrepreneurs planning to enter the next-gen financial industry, the technology company is offering pertinent turnkey solutions as well as end-to-end exchange development services from scratch.
Maticz is a ready-made P2P crypto exchange software development company offering ready-to-deploy solutions for businesses interested in creating a platform in a hassle-free manner. They have delivered more than 300 projects, of which more than 75 used their ready-made P2P exchange solution.
Hivelance is a leading technology provider, possessing resources equipped with the know-how and experience to build high-end peer-to-peer trading platforms. Their exclusive proprietary P2P crypto exchange software is fortified with multilayered security and a modular architecture for reliability, scalability, and customization.
Other than robust user authentication, encryption, SSL protection, end-to-end encryption, two-factor authentication, cold storage solutions, and multi-sig wallets, P2P crypto exchange software will have to offer extended security to bolster user protection and confidence.
With time, the customer base of cryptocurrency exchanges is going to grow and P2P exchanges are expected to be the first port of call for novice users. Therefore, the platform owners must focus on creating a clean, uncomplicated, and engaging user interface that appeals to experienced, tech-savvy as well as beginner users.
Increasing the user base and supporting a diverse range of trading pairs will not suffice. By partnering with a full-service P2P exchange development company, upcoming businesses in 2024 can source orders from different platforms, link various liquidity APIs, and harness market-making services.
Payment methods on P2P trading platforms are no longer restricted. Existing players in the market are already supporting bank transfers, cash transactions, digital wallets, online payment options, etc. Future-oriented P2P crypto exchange software platforms must support new payment options.
As customers’ inclination toward green and sustainable products increases, it will be beneficial and responsible for businesses to explore eco-friendly options such as migrating to the PoS (Proof of Stake) protocol or supporting PoS coins.
The use of side chains parallel to the main blockchain can contribute to quicker, cheaper, and more efficient transactions. Besides advanced technologies, AI can also be integrated to offer market analysis to customers based on real-time information.
Through a simple yet intuitive rating and review system, businesses can enhance customer’s trust in P2P crypto exchange software. Since it enhances the reputation of a business, it can also lead to increased customer engagement and profit making.
Advanced P2P crypto exchange solutions come with comprehensive educational resources that guide users on onboarding and throughout the other processes.
With more exchanges offering P2P services, their popularity has been incessantly increasing over the past few years. However, P2P trading markets are not as popular as spot or futures but they are still emerging. Therefore, P2P crypto exchange software development is a great opportunity for businesses.
Antier is a pioneering crypto exchange development company with ample experience building future-oriented trading platforms that make a lasting impact on audiences and yield abundant profits for businesses. If you plan to build your crypto trading platform, no matter what type it is, join forces with their subject matter experts and embark on your P2P exchange development journey today!