We have not pleased you with the platform update news for a long time! There are all the innovations in this post that have been implemented recently.


WALLBTC partner added (marked with a special sign)

Added INDACOIN partner (marked with a special sign)

Speed (optimized mechanisms for loading site content + content auto-update system)


What does it give? - the appearance of messages, notifications, new announcements without the need to refresh the page.
The mechanism of system messages has been implemented. Now when we want to tell you something important - each person on the site will have an orange +1 in the bell section.

Convenient division by 4 digits 1234 5678, etc. when you add payment system.

The transaction history section now displays links to a block overview for transaction verification.

Thanks to all our users, for your choice, we hope you will like the update.


Sincerely yours, BIT.TEAM

Security plays a very important role in the operation of any cryptocurrency trading service.

BitTeam is a P2P platform where anyone can sell or buy a crypto.

P2P service enables people to work with each other without the involvement of third parties as trustees. At the same time, classic cryptocurrency exchanges are companies that act as pure intermediaries between the participants of the transaction.


When you find a buy/sell order coincides, the exchange program doesn’t start processing the transaction, but connects the two sides together, allowing you to complete the exchange.


The platform is simply obliged to work on the safety of its members. In addition to strict rules regarding the transaction, an important part is the process of verification of participants.


What is verification?

In simple words, this is the process of verifying a person’s identity. This is currently a very big problem for many cryptocurrency companies. The rise of popularity led to an increase in the percentage of fraud. On the one hand, it is very important to respect privacy, and on the other, security.


A very good balance was found in the system, which is actively used in the Bit team service. And we are talking about the KYC verification rule.

Bit team uses advanced technologies in KYC and AML, entrusting this very important process to world-famous companies with licenses and certificates in all countries. Also, for each account, there are restrictions on the amount of the transaction, which can be removed through the KYC verification procedure.


What is KYC verification?

KYC stands for "Know Your Customer." It is actually a process of establishing a person’s identity and, as a rule, includes several main points:


- Verification of identity and citizenship;
-Checking the user to participate in illegal activities;
-Study of the source of funds and destination;
-Search for suspicious transactions or evaluate too large transaction volumes.
The purpose of KYC is to screen out those who do not have the right to use the service and are considered to be unscrupulous participants.

For example, those who have not reached the right age, illegal immigrants, or people with criminal convictions. Information from the collected database should be provided to law enforcement agencies to investigate crimes as necessary.


Why is verification so needed on exchanges?

For governments and law enforcement agencies, KYC verification is very important, as it is one of the most reliable ways to prevent crimes such as money laundering or other theft.


Verification on exchanges is a symbol of the fact that regulatory authorities are confident in the legality of the transaction. The user shows himself to be a law-abiding citizen and the state has no grounds for claims against him.

So, verification of the exchange provides:

-General security of customers, the project, and all operations on the platform.

- Compliance with international norms and standards by exchanges;

- The presence of verification, as a rule, proves that the project is not a scam;

-Security of your crypto assets, protection against money laundering

BitTeam’s top priority is security

BitTeam is a P2P platform where anyone can buy or sell cryptocurrency.

The working of such service is impossible without a high-quality and modern protection of the interests of all parties involved in any transaction.

Thus, the platform has built a whole system of rules to make any of your transactions in the system as safe as it possible.


How does the BitTeam platform ensure your security?


1. User Authenticity

The service uses a rating and review system for users who have completed a transaction. There are also statistics of the number of transactions and the total amount of transactions. Based on these values, you can make the right choice in favor of a trusted user.


2. The security of the member’s account works due to various algorithms, including:

2.1 Two-factor authentication (via google 2fa or notifications with a secret code in telegrams)

2.2 Mandatory confirmation of all withdrawal actions via e-mail messages.

2.3 Special analysis system behavioral factors account (comparison input IP address and analysis operations on account)


2.4 Administration of a special department of security actions on the account. Also,  there are restrictions on the amount of the transaction for each account, which can be removed through the KYC verification procedure.

3. The established rules of service

There is a rule according to which any transaction will be canceled automatically if the user doesn’t accept it within 10 minutes.


The BitTeam platform is not only a service for trading. This is the place where the administration can act as an arbiter in controversial issues, having great experience and a team for working and supporting users around the world.

Currently, many crypto trading platforms are facing difficulties since the global traditional markets’ fall has influenced even the crypto industry.

Even despite the global economic difficulties there are still effective ways to trade cryptocurrency with BIT.TEAM.
 
Alternative trading opportunities for crisis times.

According to media, all of the markets are collapsing by the COVID-19 pandemic which is constantly growing. Governments are trying to improve the situation, so they boost economies by lowering interest rates and mauking citizens support payments. But as it turns out that’s not enough to save the economy.
Economies are collapsing one after another, companies are bearing considerable losses, and a lot of once rich enterprises are now on the verge of bankruptcy. 
When it comes to crypto, Bitcoin has failed to meet the investors’ expectations as a storage asset which is able to preserve the value in times of crisis. Anyway, it isn’t so much the Bitcoin itself as it is our fault.
None of the cryptocurrencies including bitcoin are backed by gold or by oil but they are backed by our confidence and trust. If this decrease happens again, this means that we do not trust enough.

But in any case, crypto market will recover, and all of the digital assets will start to go up. The point is, it won’t happen right away.
So what should traders do at the time of inflation and economic recession?

 
P2P crypto transactions
 
Р2Р (peer to peer) transaction - is an exchange of crypto assets that occurs directly between users without intermediaries.
In terms of trading, the implementation of a peer-to-peer networks mean that buyers and sellers now can negotiate prices of coins and tokens.
At the core of P2P technology lies the decentralized approach which implies direct interaction between people.
And besides, this approach describes a computer network architecture (joint use of P2P files) in which each node can act as a server for other users and may also be used for digital currency trading.
P2P exchanges enable market players to make transactions directly with one another without third party necessary for making deals.
Standard crypto exchanges are companies that serve as intermediaries between parties and get their profit from fees. On the contrary, the P2P exchanges let parties make transactions based on pre-programmed software not requiring third parties.
This alternative approach has a number of comparative advantages. In general, P2P transactions are a good example of the philosophy of decentralization.

P2P deals on exchanges
 
Let’s see how basic crypto transactions work. People who want to sell bitcoins indicate the amount and price. All these orders are moved into an order book. Then a buyer who wants to purchase crypto searches for a suitable offer in the order book, or if there are no such offers creates his/her own “purchase order” stating the terms of the deal.
The exchange matches orders according to price where possible, and processes transactions.
Such operations may take up a lot of time - from about 10 minutes to several hours.
 Fiat money remittances are even more time-consuming (in some cases, they take up couple of days). In order to speed up the process, the exchange acts as a trusted intermediary: it confirms all the deals even if the actual transactions have not been finished yet.

P2P-exchanges offer a different approach.
 
Every time there are matching orders for buying/selling the exchange’s software connects buyer with seller so that they could make a direct deal without third parties.
 Nevertheless, intermediaries may be involved as arbitrators in the settlement of disputes but no third parties’ participation is needed in standard deals by default. It is the software that matches traders in a decentralized way.
 
Benefits and examples

P2P-exchanges offer a high tolerance of transaction censorship, they are cheap to use, private and safe.
All benefits of decentralized exchanges arise from the absence of one major company that takes full responsibility. Such company would guarantee some advantages but it would also serve as a point of failure, and each of its errors would have a negative impact on the whole system.
Today there are a great number of P2P platforms that enable users to receive maximum safety, convenience and freedom. These are the world-known crypto trading platforms such as BIT.TEAM. Describing itself as a P2P platform it gives an opportunity to operate such crypto assets as:
 
BTC
PZM
BIP
LTC
ETH
BCH
USDT
BTT
 
Another benefit of this platform is a wide choice of international digital coins and means of payment that simplifies the transaction processing.
The issue worth special attention is the systems of payment. Visa, Mastercard, PayPal, Payoneer and most of Russian, Ukrainian and other countries’ large banks  will easily make any transaction.
There is also a referral system BIT.TEAM which allows traders to get bonuses from their partners’ deals within the service.
 
Conclusion
 
When we speak of the “Proof of Stake” algorithm crypto assets, we speak of new opportunities, and the popularity of such assets proves their capability. But the choice is yours.