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so many exchanges are now. Tell me, do you have any cardinal difference from the others? and where is your team? Can you get more information?

Judging by the fact that registration on most exchanges due to a large influx of users is closed, the total number of exchanges still can not meet the existing demand.

I agree with you. The other day Bittrex opened the registration of new users, but almost immediately closed again because there were too many people who wanted to register an account.

The last time I logged in on Bittrex I saw they force you to verify the account. Does that take long or is it a quick and smooth process?

The logging in, posting of trading orders, withdrawals and other processes will require 2FA verification. A person could be able to disable 2FA for some operations, but we would strongly recommend not to disable them.

I am not talking about the 2fa verification, that should be a no-brainer to anyone. I was referring to the overall identity verification that is now required to do anything there. I stopped using them once that kicked in.

Identity verification will be required at first time (during account creation).

Why is the exchange actually called a p2p exchange? Is it supposed to be fully decentralized and if yes, why would there be ID verification for a decentralized exchange?

Thanks for your questions!
P2P because people can trade with other peers (by the way a peer may be a business entity, so we support P2P, B2B, B2P types of transactions)
It's decentralized only in terms of fiat funds. Users send fiat money directly to each other. So we do not have any exchange bank account that can be blocked or arrested by authorities.

ID verification is needed in order to let us be legally compliable in all countries and serve as many people as possible. Here is the detailed explanation of why we need ID verification: https://medium.com/@TokPie/how-kyc-aml-procedures-protect-investors-ddc915c5959f

There is a logical issue with your explanation. Fiat can't be transferred without third parties being involved. If I send USD to someone else, there must be someone who takes notice of that. In Bitcoin the miners do the job. Who does the job on your exchange?

A person (seller of crypto asset) who accept your money notices that - after his/her confirmation of money acceptance, the buyer gets crypto-asset.

The risks related to scam/unfair trade (when a seller says "I did not get money" but buyer prove it during the dispute) will be minimal because of KYC.

but there are banks involved if there is fiat involved. Money needs to be sent from one bank to another. There is no way to fully decentralize that, at least not right now.

Yes, but p2p fiat transfers are much safer than the use of centralized exchanges as intermediaries. There are a lot of examples especially in the last 6 month when central banks, ordinary banks, and regulatory authorities, push high pressure on fiat deposits/accounts of crypt exchanges.

Vazil

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