Top 6 P2P Cryptocurrency Exchanges

P2P exchange shave become popular for cryptocurrency trading along with centralized platforms. At the same time, they have the advantage of connecting sellers and buyers directly, which makes the process easier and faster. What else are they good for and which P2P exchanges are the best on the market? We will tell you about it in this article.

What is a P2P Exchange?

As already mentioned, a P2P exchange is a platform where buyers and sellers trade cryptocurrencies directly, without using intermediaries. As a result, transactions are much cheaper, with commissions often not exceeding 0.5% or even zero. In addition, P2P exchanges do not require extensive personal data, which maintains a high level of anonymity. You can also develop a secure P2P crypto exchange platform to select trading partner by the terms and conditions it offers, such as convenient payment methods and seller ratings.

Advantages and Disadvantages

There are different ways to trade cryptocurrency, such as through centralized exchanges, but P2P has several important advantages.

P2P exchanges are usually available in different countries, so you can quickly find buyers and sellers around the world. You can find a suitable seller or rate a buyer, and then securely pay using one of many methods. For example, exchanges support transfers from different banks, PayPal, and even transfers to a mobile phone account. And if the terms of sale are not suitable, you can contact the other party and agree on an individual offer.

But due to the process of confirmation of the transaction by both parties to the trade, sales are usually delayed. Because of this, P2P exchanges usually have low liquidity.

List of the Best P2P Exchanges

A P2P exchange is considered reliable if it has a wide working base and a high rating in the market. However, for personal use, it is important to consider aspects such as the level of fees, the number of coins traded, the variety of payment methods, and security measures. We will evaluate our top platforms based on these parameters; consider the following 6:

• Crypto P2P

• Binance P2P

• Paxful P2P

• Bybit P2P

• OKX P2P

• KuCoin P2P

1. Crypto P2P

Crypto P2P— is a relatively young cryptocurrency trading platform, founded in 2022. Despite this, its liquidity is one of the highest on the market thanks to more than 30,000 active users. The platform allows you to exchange cryptocurrencies, including USDT, Bitcoin, and Ethereum, for fiat money (dollars, euros, and others). At the same time, there are a large number of payment methods (more than 560, including bank transfers and e-wallets), so finding a suitable one is not difficult.

As for the fees, the total amount for one transaction is 0.2%: 0.1% from the seller and 0.1% from the buyer. All users undergo the KYC procedure to confirm their identity, so you don’t have to worry about the security of your assets either. Cryptomus P2P also has the advantage of an intuitive interface and 24/7 customer support, making it easy to navigate the platform even for beginners.

• Commissions: 0.1% from the seller and 0.1% from the buyer.

• Number of available coins: about 20.

• Number of payment methods: 560+.

• Security measures: AML, KYC, 2FA.

2. Binance P2P

Binance P2P is the most used platform due to the large number of coins available (over 350) and presence in over 190 countries. Liquidity is also increased by the variety of payment methods (over 300), including bank transfers, mobile payments, and cash deposits. This undoubtedly expands the audience that can choose the right terms of work on the platform.

The commission for each transaction can be a maximum of 0.35%. Another advantage is that all users undergo KYC and MFA (multi-factor authentication) procedures, which further protects funds from fraudsters. However, this path may not be so simple, as the P2P interface is quite complex due to the large number of functions.

• Commissions: up to 0.35%.

• Number of available coins: 350+.

• Number of payment methods: 300+.

• Security measures: MFA, KYC, escrow service.

3. Paxful P2P

Paxful P2P is known for its user-friendly interface that attracts newcomers. Its audience is also expanding due to the large number of payment methods, which are more than 300; these mainly include bank transfers, mobile wallets, cash payments, and gift cards. The platform is present in more than 200 countries, which also attracts crypto activists from all over the world. However, when considering a platform to work with, it is worth considering that some payment methods are not available in many regions.

Paxful P2P is known as a platform for working with Bitcoin, USDT, Ethereum, and USDC. The commission here is also quite high and can be up to 1%, and it applies only to sellers. At the same time, transactions here are reliably protected with 2FA, KYC, and an escrow service.

• Commissions: 1% for sellers; buyers usually pay nothing.

• Number of available coins: Bitcoin, USDT, Ethereum, USDC.

• Number of payment methods: 300+.

• Security measures: 2FA, KYC (for large transactions), escrow service.

4. Bybit P2P

Bybit P2P is known for its well-organized customer support, which is a huge advantage for new users of the platform and those new to the crypto space in general. The platform covers a small number of countries, just over 50, and offers over 20 coins for trading, but is still popular. This is largely due to the almost complete absence of transaction fees.

The number of payment methods offered here is also small (more than 20), but among them, most users find suitable ones for themselves and available in their region. The advantage is that the platform has an escrow service to protect transactions.

• Fees: No fees, but payment processing fees may apply.

• Number of available coins: 20+.

• Number of payment methods: 20+.

• Security measures: MFA, KYC, escrow service.

5. OKX P2P

The OKX P2P platform is suitable for those who are focused on working with Bitcoin, Ethereum And Tether, as these coins are the main ones for P2P trading on this platform. In total, there are more than 20 payment options, among which you can choose bank transfers and e-wallets. At the same time, OKX P2P operates in more than 100 countries, where it finds its active users.

The platform is also chosen for its lack of fees, which makes transactions absolutely profitable. Escrow service and data protection with MFA also increase this figure.

• Fees: No fees, but external processing fees may apply.

• Number of available coins: 4.

• Number of payment methods: 20+.

• Security measures: MFA, KYC, escrow service.

6. KuCoin P2P

The KuCoin P2P platform has a large user base, as it is available in over 200 countries. There are not many tradable coins, only over 20, but you can find fairly liquid assets among them. Bank transfers and e-wallets predominate among the payment methods, of which there are just over 30.

There are no transaction fees on the platform, except for those that may be charged for external payments. Many are attracted by the lack of KYC requirements for small transactions. However, this may increase the risks of using the platform, as it may encounter unregistered traders who may be scammers.

• Fees: No fees, but may apply for external payments.

• Number of available coins: 20+.

• Number of payment methods: 30+.

• Security measures: 2FA, KYC (for large transactions), escrow service.

As you can see, all the P2P platforms listed above have different trading conditions, so you need to choose depending on what is your priority. If you are looking for the most financially beneficial platform, do not forget to check the security measures. We hope that this guide helped you learn a little more about the features of P2P platforms or even choose the right one for you.