Bitfinex, a well-known peer-to-peer (P2P) platform for trading digital assets, has introduced Bitfinex P2P.
The platform allows users to directly trade Bitcoin (BTC), Tether tokens (USDT and EURT), Tether Gold (XAUT), and Ethereum (ETH) while facilitating payments outside of the Bitfinex platform.
Initially, the platform will focus on Venezuela, Argentina, and Colombia markets. With Bitfinex P2P, users can trade one digital token for another on the marketplace.
The trading process involves two steps: a user known as the “Maker” posts an “Ad” on the “Ad Board” to indicate their desire to trade a supported token.
Other users, referred to as “Takers,” can view the advertisement and decide whether or not to participate in the trade based on the Maker’s specified terms.
The “Bitfinex P2P Market Place” offers a public profile view option to enhance transaction security. This tool allows users to access important details about a potential counterparty, such as average payment time, trading volume, trade counts, and other relevant information, before initiating a deal.
Later this year, Bitfinex P2P plans to launch a smartphone version and introduce other customer-experience-improving features. This mobile version will enable customers to trade bitcoins conveniently on the go.
Bitfinex’s Initiatives
The crypto exchange has been trying to increase access to financial services related to digital assets in Latin America. Before launching Bitfinex P2P, the company had a significant presence in El Salvador, the first country to officially recognize Bitcoin as legal tender and had a stake in the Chilean crypto bank OrionX.
Paolo Ardoino, the CTO of Bitfinex, expressed the company’s goals, stating, “By offering a reliable and efficient platform for P2P token trading, we aim to empower our customers and believe in the transformative power of digital assets. Our strategy revolves around providing unparalleled support, tools, and innovation for professional traders and liquidity providers globally.”
