Peach Review
I am wearing the Peach P2P Bitcoin Excahnge app avatar and signature and I would like to write a brief review as my little way of showing support for this great project. This review is free and voluntary. it voluntary. I would start of by saying that I share in their great philosophy and values
#kycfree. Thank you icopress form bringing it to the forum.
I was attracted to the exchange because of its unique features which is that you once you sign up on the platform, you can do your bitcoin P2P exchange without feeling unsafe. That is, there is no KYC verification and your privacy is secured.
DownloadI followed the link provided by icopress on
thread in the service board. It opened their website and on the webpage, I was directed to down the app either from AppStore or Google Play. I clicked on the later. It opened my Google Play app and downloaded it.
InstallationWhen I opened the app, I got a pop up to share usage data. I was shocked at first but became comfortable when I read the second paragraph that, "No personally identifiable information is ever collected. see also our privacy policy". I read the privacy policy just to be doubly sure. After which, I clicked on "sure" and then "next". This is the "Welcome Page" giving users an intro to the app with some messages such as
- peer-to-peer:
With Peach, you don't buy from us, but from other people. It's marketplace for bitcoin!- peach of mind :
We'll guarantee you get your part of the deal thanks to our advanced escrow and in-app support. - privacy first:
Your data is stored on your phone and is fully encrypted... we don't even want to know who you are.- a wallet you control:
Peach has a built-in wallet, so you can get started right away. No third-party apps required to use Bitcoin properly!Sign UpThere was a box to enter a referral code. I did not enter any because I didn't have. So I clicked on the "NEW USER" . What popped up next was "Creating account" window. After about 15 seconds, the next window was "Account Created" and then another one asking me how I heard about Peach. It had several options - see picture below. I clicked on other. I was expecting to see "Bitcointalk Forum" as one of the options but didn't.
Home screen The home screen has the price of 1 bitcoin to Euro, a link to the website, the number of open offers, and sell options, daily trading limit and other tabs to take you to the other parts of the app. They are the "Wallet", "trades", and "settings".
SettingsIt has different options
- contact peach - You can reach then via mail and report any issue. You simply click on whatever issue you want to report on. It opens a wind, you enter your email address, then your message and you can choose to tick the "include app logs" box or not and then hit send report. Alternatively, you can see for help via the community. They have a Telegram and Discord channels. Although when I clicked on the Telegram option, it showed "Expired Link- This invite link has expired."
The administrators should look into this. The Discord option worked perfectly.
- about peach - contains information about the app. peach fees which I learned is 2% of the total amount of the trade and it excludes any other fees and markups. It also contains its socials, the type of security they use. They use bitbox which is open source to secure funds. There is also a link to their website, their privacy policy, terms and conditions. In the terms and conditions page, I learned that peach is not a crypto exchange but a marketplace that facilitates buying and selling of bitcoin among bitcoin users. Peach do not buy from or sell bitcoin to its users.
- On the Profile settings - it contains details about my daily trading limit(1021 EUR), monthly anonymous limit (1021 EUR), yearly trading limit (102123 EUR). I also had here, my account public key, date of creation, disuptes, number of trades, and an option to delete account.
- referrals- you receive referral point for everyone who signs up using your referral code. Please use my referral code - PRF18C and link - https://peachbitcoin.com/referral?code=PRF18C. Thank you
- backups - the two options here are the "file backup" to restore your Peach account and wallet. When you click on it, you will be prompted to create a secure password which must me at least 8 characters long. You enter the password and your back up is created. Then the "seed phrase" option which shows you your seed phrase. And you know what to do with it.
- network fees - the picture says it all. I like that add a custom fee. It makes it even better.
- transaction batching -it has a toggle when it is off has - "Escrow payouts are done right away. You're paying up to 30% more." When the toggle is on, the text becomes "Escrow payouts are delayed. You save up to 23% in network fees.". Depending on who fast you want the transaction, the toggle is up to you.
- payment methods -
here there are two options. The first, is the online option and the second is the meetups. In the online option, you have the small + icon to "add new currency payment method". I clicked on it, there are currencies separated by continents. They include -Europe, Latin America, Africa, and other. Because I am from Africa, I clicked on the Naira(NGN) and then next which took me to the next page for bank transfer and online wallets. In the bank transfer, you enter your payment details. I like that in the payment reference, they is a text that say, "don't mention bitcoin or Peach." My government has already issued a directive to banks to have the account of anyone found found trading bitcoin frozen and then the person will face some jail time. So kudos to peach having this reminder to their users.
I clicked on the online wallet options and noticed some online wallets that are very popular in Nigeria. You just click on the option you want and then enter the details just like the bank transfer options.
The second option is the "meetups". You then click on the small + icon with the text" add new cash option", a dropdown menu to select country appears. In my case, I click on Nigeria, and I another dropdown to select the meetup. I click on the first option "BitDevs Abuja" to try it out get the meetup link. It takes me to the BitDevs community page on Twitter and from there, I could contact them. In my opinion, I am not too comfortable with the meetup option for security so, Ill stick with the online option.
tradesOn the trades bar, you have the buy, sell and history options. I tapped on the start
buying option. Another window opens that amount to buy which I can set and the pay out option. Here, I can add a currency option which was already discussed in the previous section or the payout can come to my peach wallet or an external wallet. I can set the custom address which can be any address of my choice. The "Open External wallet App" prompts me to open my Trust wallet.
When you click on the show offers - another window pops up showing you the sell offers. There are options to sort matched by best reputation first, then highest amount first, lowest premium first.
I tapped on the sell option and then on the "start selling". A new window opened with the sell options. One important thing to note is that at the top right hand of the screen there is a
? which when you click on it, there is an information there that tells the seller that there is not fee to selling. And one must send their sats to an escrow which proves to the buyer that they are serious about the trade and have the sats. To put our hearts and minds at ease, they ass that the escrow is a bitcoin multi-signature wallet where you own one key and Peach holds another. I like this. And now that your mind is at ease you can then being the trade.
walletThe wallet has the "receive" and "send" tabs. On the
receive tab, you have a wallet address and a QR code which you can scan to get the wallet address. There are multiple addresses to choose from.
On the send tab, you can send bitcoin from your peach wallet to any other wallet of your choice, like a hardware wallet, software wallet, an exchange wallet. However, it is recommended you send it to a hardware wallet as it offers extra security.
User ExperienceI love the intuitive and seamless user experience on the Peach app. The app’s interface is sleek and well-organized, making it easy to navigate even for someone like me who is still kinda new to cryptocurrency trading. I am happy that there is no registration process so anyone can start using it within minutes of installing and setting up the app. The security features give me peace of mind, knowing that my funds are safe.
My overall rating of the app is a
4.9/5