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Comprehensive Guide to Peach Bitcoin #19

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First Draft Peach Bitcoin
bitlevi committed May 23, 2023
commit 3c7e2458d47f3ce2ef112e936866df3a9fc0a41d
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---
layout: page
title: Peach Bitcoin
subtitle: Simple P2P European Exchange on Mobile
#cover-img: /assets/img/path.jpg
share-img: https://bitcoiner.guide/assets/img/SHARE_IMAGE_BY_QNA.png
---

## Introduction
If you're new to Bitcoin, the most common way to acquire it is through a regulated exchange. However, the process involves providing a significant amount of personal information such as your name, address, banking details, and even a scan of your face or voice recording. You'll also need to undergo background checks before being approved to make a purchase.

After all of that, you don't own any Bitcoin yet. You receive an IOU and still need to transfer the funds into a wallet where you control the private keys. This experience is not ideal and goes against the Ethos of Bitcoin.

Additionally, your personal information is now stored on the exchange's server, making it vulnerable to potential breaches. Unfortunately, such incidents are not uncommon in the Bitcoin world. Companies like 'Mt Gox', 'Binance', and 'Ledger' have all experienced data breaches in the past.

## So what's the alternative?
Buying Bitcoin [noKYConly!](/nokyconly)

There are many ways to obtain Bitcoin without having to provide all of your personal details to a company that may or may not know how to properly secure that data. I have guides on using peer-to-peer markets like [Bisq](/bisq) and [HodlHodl](/hodlhodl), but one of the new kids on the noKYC European block is Peach Bitcoin.

<p align="center">
<img src="/assets/img/NKYC2.png" class=responsive width="300" height="230" maxheight="300" />
</p>


## What is Peach Bitcoin?
Peach Bitcoin is a novel mobile application that facilitates peer-to-peer transactions, allowing users to buy and sell Bitcoin directly without intermediaries. With its focus on user privacy and security, Peach stands out from other platforms as it does not require to Know Your Customer (KYC) compliance.

The need for a platform like Peach Bitcoin stems from a growing demand for privacy in Bitcoin. Traditional exchanges often require extensive KYC procedures, which deter individuals who value their privacy. Furthermore, the process can be time-consuming and complex, creating a barrier to entry for many newcomers. By eliminating the need for KYC, Peach Bitcoin offers a more accessible and user-friendly alternative.

Learn more about the dangers of KYC at [here](/nokyconly).

## How Peach Bitcoin Works
Here's an overview on how Peach Bitcoin operates:

1. **Buying and Selling Bitcoin**: Users can list their Bitcoin for sale or browse listings to buy Bitcoin directly from other users. Once they agree on a price, the transaction begins without delay.

2. **Escrow System**: Peach employs a secure 2 of 2 multi-signature escrow transaction system that assures the safety of all transactions. When a seller agrees to sell, the Bitcoin is promptly moved into an escrow account, and both the seller and Peach must sign to transfer the Bitcoin, ensuring the highest level of security during the transaction process.

3. **Payment and Release of Bitcoin**: The buyer sends the agreed fiat currency payment directly to the seller through the payment method agreed upon. Once the seller confirms receipt of the payment, the seller signs the transaction in the escrow wallet, allowing the Bitcoin to be moved to the buyer's wallet in self-custody.

4. **Dispute Resolution**: If a dispute arises between the buyer and seller, Peach can step in as a mediator. If the parties cannot resolve the dispute, Peach staff will intervene and likely release the Bitcoins stored in escrow to settle the matter after verification.

*At the time of writing this, 23rd May 2023, Peach Bitcoin is still in beta testing.*

### Create your account
Once installed, it takes less than 10 seconds to create your Peach account, it is THAT easy.

1. Download Peach Bitcoin for your operating system:
- [iOS](https://testflight.apple.com/join/wfSPFEWG)
- [Android](https://play.google.com/store/apps/details?id=com.peachbitcoin.peach.mainnet&pli=1)
- [APK](https://peachbitcoin.com/apk/)
2. Launch Peach Bitcoin
3. Agree or disagree to share usage data
4. Press "Next"
5. Insert an optional referral code
6. Press "New User"
7. Welcome!

### Buying Bitcoin

### Selling Bitcoin

## Benefits and Features

## Safety Measures and Regulations

## Reputation

## FAQ

## Peach Team

## Conclusion

## Useful Links