BitValve is an emerging peer-to-peer cryptocurrency exchange that positions itself as a direct competitor of Localbitcoins and Paxful. A project team is comprised...
BitValve is an emerging peer-to-peer cryptocurrency exchange that positions itself as a direct competitor of Localbitcoins and Paxful. A project team is comprised of software engineers and blockchain developers from Greece with the company being registered in the Swiss jurisdiction and its servers are to be stored there as well. The developers of BitValve claim that having recognized the burning issues with regard to other peer-to-peer crypto exchanges, they developed a robust solution that may become the gateway for people, especially the unbanked and underprivileged ones, into the realm of the seamless and multifaceted crypto economy.
The major problem regarding peer-to-peer crypto exchanges constitutes in the scarcity of platforms that provide such services, with the mentioned LocalBitcoins and Paxful currently dominating the niche and dictating their own terms to the users.
Therefore, the overarching objective of BitValve is to impose competition on those two exchanges by providing the alternative option for P2P fiat-to-crypto trading. The project’s main strategy is to take into account the existing advantages of peer-to-peer exchanges, which are the absence of intermediaries and better security of funds since all exchange operations are carried out in a decentralized way directly between users’ wallets, and introduce novelties aimed at improving the user experience and diversifying the trading options.
The issue that concerns many traders is the unjustifiably high fees, even compared to the centralized exchanges, which become a major turnoff for novice and experienced traders alike. BitValve’s core marketing message promises the 50% lower fees compared to the competitors. The scheme is similar to the one utilized on Binance: the holders of BitValve’s native token (BTV) are entitled to this substantial discount while those without BTV in their trading accounts will have to pay ‘only’ 20% fewer fees than at the rival platforms.
One of the biggest scourges of P2P exchanges is the very poor choice of cryptocurrencies available for purchase. For example, Paxful supports only Bitcoin, same applies to LocalBitcoins. BitValve will take it a few steps further and make several altcoins available for trading. As of now, they promise to include Ethereum, Litecoin, Monero, and Bitcoin Cash - the list should be supplemented with other currencies, subject to the market demand.
This is the feature that might really put BitValve head and shoulders above the competition. Even at present, virtually none of the well-known peer-to-peer exchanges allow users to trade among cryptocurrencies, which puts them at a great disadvantage in comparison with centralized exchanges. BitValve may become the first P2P exchange to introduce direct crypto-to-crypto trading between the available currency pairs. This is more than a feasible task and the successful implementation of this option may result in a massive influx of traders to the platform.
The token sale of BTV began only a few days ago and it is planned to last until August 15. BitValve established a rather modest hardcap of $2.8 million with 16.2 million BTV tokens allocated for sale. The acquired funding will be divided equally to satisfy the development and marketing needs of the project. The current price of one BTV is $0.2. Citizens of China are prohibited from participating in the BitValve ICO.
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