Amid a hostile environment and regulatory uproar for cryptocurrencies like Bitcoin (CRYPTO: BTC), Dogecoin (CRYPTO: DOGE) and Shiba Inu (CRYPTO: SHIB) in India, several cryptocurrency exchanges are using peer-to-peer deals and direct deposits to overcome payment curbs imposed by the central bank according to the Economic Times.
In a peer-to-peer transaction, after receiving an order from a buyer, the cryptocurrency exchange shares the seller’s account details with them. The buyer directly sends the funds to the seller’s account and the seller then moves the cryptocurrency from their wallet with the exchange …
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