Exciting: Bitfinex Launches P2P Platform For Latin American Users
- Bitfinex has launched a peer-to-peer (P2P) trading platform in Argentina, Colombia, and Venezuela for various cryptocurrencies.
- Customers can choose their preferred payment method and native currency.
- The mobile version of Bitfinex P2P will be released later this year, aimed at improving the client experience.
Bitfinex, a cryptocurrency exchange, announced the introduction of a peer-to-peer (P2P) trading platform in Argentina, Colombia, and Venezuela on Tuesday.
Users may now purchase and trade Bitcoin (BTC), Ether (ETH), Tether tokens valued in Euros (EURT) and US dollars (USDT), and Tether gold (XAUT) tied to the price of gold, according to Bitfinex. Consumers may choose their preferred payment method and native currency, according to the company.
Bitfinex CTO Paolo Ardoino stated:
“By offering a reliable and efficient platform for P2P token trading, we are empowering our customers to engage with the marketplace in a way that affords maximum convenience based on their needs and preferences. We believe in the transformative power of Bitcoin and other digital assets, as well as the importance of providing greater access to innovative financial technologies worldwide.”
Users may exchange one digital token for another inside the P2P marketplace. The trading operation is divided into two stages, beginning with a client, known as the ‘Maker,’ creating an ‘Ad’ on the ‘Ad Board’ to express their desire to swap a supported token. This Ad is then shown to other consumers, known as ‘Takers,’ who might opt to participate in a deal depending on the terms provided by the Maker.
For enhanced security during transactions, the ‘Bitfinex P2P Market Place’ provides a public profile view option. Before starting a deal, customers may receive critical information about a possible counterparty, such as average payment time, trading volume, trade counts, and other significant statistics.
Later this year, a mobile version of Bitfinex P2P will be released, along with additional improvements aimed at improving the client experience. Customers will be able to trade bitcoins on the move with this mobile version.
The introduction of Bitfinex P2P in Latin America is the most recent in a series of attempts by Bitfinex to broaden access to digital asset-related financial services in the area. Bitfinex made an undisclosed investment in Chilean crypto exchange OrionX in May with the goal of growing its presence in Latin America.
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