With the latest update of the decentralised P2P marketplace, users on PearDAO can buy and sell popular cryptocurrencies such as Bitcoin (BTC) freely. This is a quick guide to teach you how it works, and the future prospects of P2P trading with PearDAO.
Creating a BTC buy/sell advertisement
Step 1. Log in to PearDAO using your online crypto wallet
Step 2. In [Myads], click on [+Post new ad]
Step 3. Choose whether you want to [Buy] or [Sell], choose BTC under crypto asset.
Step 4. Choose the type of fiat you want to use for BTC trading, and select the payment method you wish to trade with.
Fixed Price
Fixed price allows users to select the specific price they wish to buy or sell in exchange for 1 crypto. For instance, you may want to buy or sell 1 BTC in exchange for $20000, regardless of the market condition. Here, you may type in 20,000 USD and post the offer on the marketplace.
Floating Price
Floating price allows users to buy or sell BTC at a specific level above or below the market’s price. PearDAO has partnered with Chainlink to provide users with the real-time market price of BTC, which is calculated from the average price across multiple nodes.
Range Variables
- Plus / Minus
Users may choose to buy or sell BTC that is above or below the market price by a fixed amount. For example, Joe wants to sell his BTC at a price that is $20 above the standard market price, he can select [+Plus] and type in 20. If he wants to sell his BTC at a price that is $20 cheaper than the standard market price, he can select [-Minus] and type in 20.
- Increase %/ Decrease %
Users may choose to buy or sell BTC that is above or below the market price by a fixed percentage. For example, Joe wants to sell his BTC at a price that is 5% above the standard market price, he can select [Increase %] and type in 5. If he wants to sell his BTC at a price that is 5% lower than the standard market price, he can select [Decrease %] and type in 5.
With floating prices, users can get peace of mind in terms of the price they would buy or sell on the marketplace. During a volatile market condition, users can always trade for the exact price they prefer.
Buying and Selling of BTC on PearDAO
- Find an order — On the Marketplace section, click Buy or Sell to find the best offer on the market. Find your preferred currency and payment method. Select the advertisement that has a suitable price for you.
- Place an order — Set the amount you want to spend, your Telegram address, and start chatting with the advertisement publisher through Telegram. Once you have confirmed the trading terms & conditions and specific details, click on buy/sell BTC and verify the transaction with your online crypto wallet.
- Send/Receive payment and receive/send your BTC — If you are a buyer, transfer the payment and click Paid. If you are a seller, wait for the payment to arrive in your bank account and wait for the buyer to confirm payment. At any point of time during the bank payment, the seller’s BTC will be locked in escrow to prevent the seller from accepting the buyer’s payment and not releasing the crypto. As soon as the seller confirms your payment, the Bitcoin will be released from escrow and transferred to your chosen online crypto wallet.
Future prospects of P2P trading on PearDAO
With a comprehensive system supporting P2P transactions with non-stable coins, it opens up a wide variety of opportunities for PearDAO. Allowing the future listing of popular cryptocurrencies that may or may not be available on P2P marketplaces on centralized exchanges.
PearDAO welcomes all projects intending to list their tokens for P2P trading to contact us at market@peardao.io
If you are a trader, we hope you have a pleasant trading journey with PearDAO and more features will be released soon. Stay tuned!
More About PearDAO:
- Twitter: OfficialPearDAO
- Website: Peardao.io
- Meet more Pears on Telegram
