How it Works
PeerTraders.cash emphasizes safe and private cryptocurrency trading. Unlike many exchanges there is no ID required to trade and no funds can be hacked because trades only occur using secure 2-of-3 multisignature. There are no wallets. Instead Bitcoin Cash is placed in escrow to secure trades of many combinations of cryptocurrency and national currencies.
To trade members place ads normally. When a trade is accepted both members download and open a Bitcoin.com wallet and click the Shared Wallet option. Within the trade chat there is a shared invite code from a randomly assigned member acting as arbitrator for the trade. This allows the three users to join the same Shared Wallet. Funds are deposited to the wallet as appropriate and the trade continues. Any two members can sign to authorize funds sent from the Shared Wallet, so for most trades which complete without issue there is never an arbitrator involved. In case of dispute either trader can click 'Dispute' summoning the arbitrator to review transaction evidence for a decision.
If an arbitrator is believed to have acted unfairly traders have the option to contact Support and request a review for a complaint, which can affect the ability of the arbitrator to gain new cases.
It's always free to place ads! Whenever a trade is completed there is a 1% trading fee charged to the ad poster. Arbitrators earn 50% of this fee on all trades, whether used to make a decision or not.
Any member can become an arbitrator, but must be a Silver or Gold member to qualify.