First, we need to understand what P2P is. Well, a P2P is a peer-to-peer marketplace that offers a platform for two individuals to carry out transactions without any third-party intervention; with the tech boom, there has been a rise in P2P marketplace places for the good, and now crypto exchange platform Kucoin is offering service of a P2P marketplace for it users you can become a merchant. KuCoin is the most authentic and user friendly cryptocurrency exchange which works with thousands of satisfied clients. Thus here in this article we have listed the steps and advantages of becoming a Kucoin P2P merchant.
The first and foremost advantage of becoming a P2P merchant is that there is no intervention from a third party which means there is just a buyer and seller; hence no extra amount being given to the third party. More importantly, the taxes on crypto transactions could be high, but in a P2P marketplace, these fees don’t usually exceed 1%. More and more people are eager to become a P2P merchant because it offers high earnings and lower expenses.
With no third party involved, the transaction is done in no time. More smooth transactions occur while you are on a P2P marketplace; this stands out as a better mode of marketing for most traders and investors of crypto.
No Centralized Authorities
Taxes, yes, we all hate them. If you wish there were a way to avoid taxes on your crypto profits, then there is no better way to avoid them if you become a P2P merchant. Taxes on crypto earnings could be very high and often make traders and investors feel frustrated, but if the trade of a P2P marketplace, there is no central authority; even the platform itself is a completely decentralized mechanism, so there are no taxes on cryptocurrency stocks.
How to Become a P2P Merchant on Kucoin
Becoming a Kucoin P2P merchant comes with many benefits. These include 24/7 support for merchants, no transaction fees on advertisements, and a complete assurance for legal help.
To become a P2P merchant, applicants have to go through the KYC (know your customer) process in which all the legal identifications are required to ensure your identity to the platform; once you have completed the KYC, then comes an Anti-Money laundering review which informs the customer that if they are involved in an illegal transaction, then the platform has full right to freeze their account if they don’t abide by the legal terms same would carry out the same action against them.
Kucoin is a legit and professional crypto trading platform. It takes strict action against those who violate the law and cause harm to its traders. The platform conduct interviews to ensure the legitimacy of the legal identification document received. Any false information sent to the platforms would lead to the disqualification of the application.
The platforms ensure the security of P2P merchants. They, therefore, don’t disclose any information unless the legal and judicial authorities demand it. Earning lucrative profits over the crypto marketplace has become easy now. Don’t waste any time and become a P2P merchant on Kucoin.