Unlike typical exchange transactions, where prices are dictated by the market's supply and demand, OTC crypto trades don't play by those rules. Instead, the two parties directly agree on the price, detaching it from the crypto market's volatility.
P2P exchanges have gained popularity due to their capacity to allow transactions in ways that are better aligned with the demands of users in terms of privacy, affordability, and accessibility, enabling cryptocurrency exchange simply and conveniently.
Many P2P platforms connect buyers and sellers directly, providing escrow services. You can easily buy crypto assets on these platforms without any KYC procedures. However, it is important to note that not all P2P platforms are KYC-free.
Memos are typically used for custodial wallet addresses because multiple recipients can have the same address on the same wallet service provider, but the presence of the memo separates them from one another and avoids the problem of sending it to the wrong recipient.
