Top-6 P2P Cryptocurrency Exchanges

P2P exchanges have become popular for trading crypto along with centralized platforms. At the same time, they have the advantage of connecting sellers and buyers directly, making the process easier and faster. What else are they so good at, and which P2P exchanges are the best on the market? We talk about it in this article.

What Is A P2P Exchange?

As we already said, a P2P exchange is a platform where buyers and sellers trade cryptocurrencies with each other directly, without resorting to intermediary services. In this regard, transactions turn out to be much cheaper, where the commission often does not exceed 0.5% or even zero. Moreover, it is not required to provide extensive personal data on P2P exchanges, which preserves a high level of anonymity. Also, on such platforms, you can choose a trading partner based on the terms that he offers; among them, for example, convenient payment options and a seller's rating.

List Of The Best P2P Exchanges

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

• Cryptomus P2P

• Binance P2P

• Paxful P2P

• Bybit P2P

• OKX P2P

• KuCoin P2P.

Cryptomus P2P

Cryptomus P2P is a fairly young crypto trading platform, as it was founded in 2022. Despite this, its liquidity is one of the highest in the market due to the over 30,000 active users. The platform allows you to exchange cryptocurrencies, including USDT, Bitcoin and Ethereum, for fiat (dollars, euros, and others). At the same time, there is a great number of payment methods (more than 560, including bank transfers and electronic wallets), so finding the right one is not a problem.

As for the commissions, the full amount for one transaction is 0.2%: 0.1% from the seller and 0.1% from the buyer. All users go through the KYC procedure to verify their identity, so there is also no need to worry about asset security. Cryptomus P2P also has the advantage of an intuitive interface and a 24-hour support service, thanks to which it is not difficult to understand the platform even for beginners.

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

• Available coins amount: around 20.

• Payment methods amount: 560+.

• Security measures: AML, KYC, 2FA.

Binance P2P

Binance P2P is the most used due to the large number of coins available (over 350) and its presence in more than 190 countries. It also increases its liquidity through a variety of payment methods (over 300), including bank transfers, mobile payments, and cash deposits. This undoubtedly expands the audience who can choose the appropriate working conditions on the platform.

The commission from each transaction can be a maximum of 0.35%. Another plus is that here all users undergo KYC and MFA (multi-factor authentication) procedures, additionally protecting funds from fraudsters. However, this path may not be easy, as the interface of the P2P is quite complicated due to the large number of functions.

• Fees: up to 0.35%.

• Available coins amount: 350+.

• Payment methods amount: 300+.

• Security measures: MFA, KYC, escrow service.

Paxful P2P

Paxful P2P is famous for its user-friendly interface, which attracts newcomers. Its audience is also expanding due to the large number of payment method options, of which there are more than 300; among them are mainly bank transfers, mobile wallets, cash payments, and gift cards. The platform is present in more than 200 countries, which also attracts crypto activists around the world. However, when considering a platform for work, it should be kept in mind 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 reach up to 1% and is valid only for sellers. At the same time, the transactions are securely protected here by 2FA, KYC, and the escrow service.

• Fees: 1% for sellers; buyers typically are not charged.

• Available coins amount: Bitcoin, USDT, Ethereum, USDC.

• Payment methods amount: 300+.

• Security measures: 2FA, KYC (on high-volume transactions), escrow service.

Bybit P2P

Bybit P2P is known for its well-organized customer support service, which is a huge advantage for the platform’s new users and the cryptosphere newcomers in general. The platform covers a small number of countries, just over 50, and offers over 20 coins for trading, but it 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 here is that the platform has an escrow service to protect transactions.

• Fees: No fees, but payment processor fees are possible.

• Available coins amount: 20+.

• Payment methods amount: 20+.

• Security measures: MFA, KYC, escrow service.

OKX P2P

The OKX P2P platform is suitable for those who focus on working with Bitcoin, Ethereum, and Tether, as these are the main coins available for P2P trading here. There are more than 20 payment options in total, among which you can choose bank transfers and electronic 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 the lack of commissions and therefore the absolute profitability of transactions. The escrow service and data protection using MFA also enhance this quality.

• Fees: No fees, but external data processing commissions may be charged.

• Available coins amount: 4.

• Payment methods amount: 20+.

• Security measures: MFA, KYC, escrow service.

KuCoin P2P

The KuCoin P2P platform has a large user base, as it is available in more than 200 countries. There are not many traded coins here, more than 20 in total, but among them, you can find quite liquid assets. Among the payment methods, bank transfers and e-wallets predominate, of which there are slightly more than 30.

There are no transaction fees on the platform, except for those that may be charged for external payments. Many are also attracted by the lack of a KYC procedure requirement for small transactions. However, this may increase the risks of using the platform, as unidentified traders who may turn out to be scammers may meet on it.

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

• Available coins amount: 20+.

• Payment methods amount: 30+.

• Security measures: 2FA, KYC (on high-volume transactions), escrow service.

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