10 sats \ 5 replies \ @sommerfeld 9 Oct 2022 \ on: Peach: Non-KYC P2P Platform bitcoin
I've tried it and worked great. The centralized escrow gave me more confidence.
The only issue now is that it has terrible liquidity (maybe due to few users since it's still in closed beta).
Low liquidity on a non-KYC platform always causes prices to acquire a premium making it impossible to buy any sats at less than 5% market price. I've even see sells advertised at 20% above market price.
Maybe there is an opportunity of doing some arbitrage here but those kinds of adventures are not for me.
It's true that ATM the liquidity is low, but that's due to the fact that Peach is in beta phase and not yet published for the mass.
Once it will be publicly available to down, I believe it would be the standard.
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The liquidity is the biggest problem with all these no-KYC or KYC off ramp options. Good to be able to buy some on occasion but my KYC stack will always be larger.
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That is more preference than reality. You can buy/sell the sum of full coins over the period of 2-3 days on bisq and without the fee exchanges charge if you make your own offers. Faster turnaround time than the typically 5 business day (lol) regulatory hold placed on funds on exchanges.
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I've never been able to buy at market price (0%) no matter how long I've waited with an open buy order.
I'm in the EU and have most fiat methods available here enabled (revolut and SEPA).
Are you by any change in the US? I can imagine that maybe there is more liquidity for the ones that can pay with ACH transfers for instance.
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I can sell coin at market or get a 1% premium all day long. It costs less than exchange fees. Buy orders don't move until I set -1% or better for the seller. Within the daily price fluctuations and worth it.
And yes, the fiat method is key, because you have to consider the implications to the seller. I can speak for the US only here. Nobody (that knows what they are doing) wants to sell using third party payment processors, now that the feds started surveiling them in 2022, with 1099 tax forms. That includes Strike, Cash app, Venmo, etc. In the US you can still use Zelle, for now, without extortion because it is a bank service and not considered third party.
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