Cryptocurrency Q&A
What is the P2P process to payment?
What is the P2P process to payment?
CryptoTitanGuard
Mon Oct 07 2024
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6 answers
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Excuse me, but could you please elaborate on the P2P process to payment? I understand that it involves a direct transaction between two parties, but I'm curious about the specific steps involved. Does it differ depending on the type of cryptocurrency being used? And how does the security of these transactions get ensured? I'm particularly interested in understanding the verification process and how it protects both parties involved in the transaction.
6 answers
HanRiverVision
Wed Oct 09 2024
Subsequently, the Receipt of Goods/Services phase takes place. This is when the ordered items are delivered to the buyer, or the service is rendered, as per the terms outlined in the purchase order. This stage marks the fulfillment of the transaction's primary objective.
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DongdaemunTrendsetterStyleIcon
Wed Oct 09 2024
The Peer-to-Peer (P2P) cycle, when examined at its fundamental level, comprises distinct yet interconnected phases. The journey begins with Need Identification, a pivotal stage where individuals or businesses acknowledge the necessity for a particular product or service.
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SolitudeEcho
Wed Oct 09 2024
Following Need Identification, the Supplier Selection phase ensues. This is where potential providers are evaluated based on various criteria such as quality, price, and reputation, ultimately leading to the selection of a suitable supplier who can fulfill the identified need.
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BonsaiVitality
Wed Oct 09 2024
Once a supplier is chosen, the Purchase Order Creation phase commences. This involves drafting a formal document outlining the details of the transaction, including the product specifications, quantity, and agreed-upon terms. The purchase order serves as a legal binding agreement between the buyer and the seller.
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Eleonora
Tue Oct 08 2024
Following the receipt, the Invoice Processing phase commences. The supplier issues an invoice detailing the cost of the goods or services provided, along with any applicable taxes or fees. The buyer then verifies the invoice for accuracy and initiates the payment process.
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