Glossary - ChicksX

Peer-to-Peer (P2P) is a decentralized network where participants trade crypto/fiat directly, without intermediaries, ensuring control and privacy.

Peer-to-Peer (P2P) is a decentralized network model that allows individuals to trade directly with each other. In a P2P crypto/fiat exchange, users can buy or sell currencies without involving traditional intermediaries like banks or financial institutions. This method offers greater control over transactions, enhanced privacy, and often reduced fees. Participants can negotiate terms, such as price and payment methods, directly with one another. P2P systems rely on user reputation and escrow services to ensure security and trust. This approach is particularly popular in regions where access to traditional financial services is limited or regulated.