A peer to peer cryptocurrency exchange is an advancement over the conventional exchanges as it eliminates the role of third-parties enabling direct trading between the buyer and seller.
The typical features of a Blockchain based P2P Lending Platforms are a high-speed matching engine, multi-layer security measures, spot KYC/AML verification, a smart contract-based escrow system, an atomic swapping facility, swift dispute management by admins, and preferred trading option.
Some of the add-on special characteristics include an exclusive margin trading facility, CSRF protection, a multi-signature wallet, and anti-DDoS protection.
The advantages include cost-effective operations, no chance of server downtime, low withdrawal fees, high resistance to transaction censorship, the guarantee of privacy of users, and better security.
The limitations comprise less intuitive use-cases, a longer time for trade settlement, low liquidity, non-acceptance of fiat deposits that affect the operations of local traders, no modern features like acceptance of limit orders and stop-loss orders, and lack of adequate trading volumes.