How to run a P2P bitcoin business?

I think running a P2P bitcoin business (on Paxful, Local Bitcoins etc) is one of best forms of monthly income. Yet, the tricks of successfully running a P2P bitcoin business are generally kept a secret. So to share knowledge about it, I am starting by sharing my knowledge.

  1. In P2P marketplaces each payment method is called a ‘Market’. So bank transfer is one market, Paypal is another, Credit/debit card is another etc etc.
  2. Profit is made by arbitrage opportunities across different markets. For eg in bank transfer market you buy bitcoin at market rate and sell it at a profit in another market (credit card, western union etc)
  3. While receiving fiat we need to exactly know the sender details.
  4. Initially our profit margin is low to attract traders and increase our ratings.

Feel free to add your questions, thoughts, experiences or insights.

Have a nice day.

2 Likes