P2P trading provides more flexibility when buying and selling cryptocurrencies. The system allows users to set their own prices, quantity, and payment methods. Given the rapidly growing number of P2P exchanges, we have prepared the top ten best places that stand out favorably from the rest and provide exciting features.
Top 10 P2P Crypto Exchanges in 2023
The LocalCryptos P2P platform works based on smart contracts and allows you to trade cryptocurrency anonymously. Supports many payment methods — major banks, electronic payment systems, cash, gift cards, etc. The security of transactions is ensured by the principle of escrow when the cryptocurrency is locked on the user’s account before payment. Verification is not required to use the trading platform. There are no additional fees, only network fees for sending cryptocurrencies on the blockchain.
LocalCryptos does not require any verification to work. It is enough to confirm the email address. Allows you to conduct реег-to-реег trading in cryptocurrencies such as BTC, ETH, LТС, ВСН, and DASH.
- Huobi Global P2P
The ability to make P2P transactions on the Huobi Global cryptocurrency exchange has existed since 2018. Before starting work, you will need to come up with a nickname under which you will be seen on the platform. Next, you must pass verification — it is enough to submit an identity document for small transactions. You will also be asked to make two-factor identification; using the Google Authenticator app is best. The P2P platform works both in the Web and mobile applications. Huobi P2P supports more than 60 payment methods — banks, payment systems, cash, cards, etc. Supported cryptocurrencies: BTC, ETH, USDT, LTC, XRP, HT. Fiat currencies: USD, EUR, UAH, KZT, and 70+ more.
- Bybit P2P
The P2P trading platform on the Bybit cryptocurrency exchange is one of the newest in the industry, launched in 2022. That is why there is a minimal selection of cryptocurrencies and fiat for making exchanges. Nevertheless, the exchange is quite popular and can attract many customers to the P2P service. There are no commissions for operations yet. Verification is not required to purchase cryptocurrencies, but many services are unavailable. To create orders, you need to pass verification, come up with a nickname, top up your account with at least 100 USDT and make 5 P2P purchases. Available cryptocurrencies: BTC, ETH, USDT. Fiat currencies: USD, EUR, UAH, KZT, and another 25+.
LocalCoinSwap is a platform launched in 2018 that supports 10+ cryptocurrencies and many fiat payment methods. You can start trading immediately after registration without account verification. The escrow protection of each transaction guarantees security. The project offers many tutorials on blockchain and cryptocurrencies.
Withdrawal fees are limited to those that are optimal for the current congestion of the blockchain. Residents of all countries can use the services of a decentralized platform. Commissions: 1% from the creator of the order. Available cryptocurrencies: BTC, ETH, USDT, DOT, DASH, and others.
- Binance P2P
Most likely, the P2P platform launched in 2019 by the most famous cryptocurrency exchange Binance is the most popular in this list. The choice of cryptocurrencies to buy/sell is relatively small, but almost all fiat currencies are supported. To work, you must pass verification — you will need documents confirming your identity. In transactions, the exchange acts as an organizer and does not directly interfere in the trading process. Before receiving a fiat transfer, the cryptocurrency is locked on the Binance account. This allows you to avoid fraud. An ordinary user can trade up to 5 BTC; the limit increases to 200 BTC for a verified user. The exchange does not charge fees for P2P trading. Available cryptocurrencies: BTC, ETH, USDT, BNB, BUSD, SHIB. Fiat currencies: USD, EUR, UAH, KZT, and 100+ more.
The Bitzlato P2P exchange was created based on a Telegram bot operating since 2015. The launch aims to create a multifunctional platform, including exchange and a mining pool, merchant service, and encrypted wallets. The creator of the order pays a commission of 0.5%. No fee is provided for the counterparty. The platform is a full-fledged money management system that creates all the conditions for minimizing costs. Advanced users can use the platform API, and working scripts and bots are available on GitHub. Available cryptocurrencies: VTS, ETN, VSN, DOGE, LTC, DASH, USDT, USDC, DAI, MCR, MDT. Fiat currencies: USD, EUR, UAH, KZT, and 80+ more.
Paxful is a popular international exchange for peer-to-peer trading, which started operating in 2014 in the USA. The choice of digital assets for purchase is minimal, but you can use any fiat currency in any country worldwide (there are more than 350 payment options in total). There is no commission for buyers, and for sellers, on average, 1% (it depends on the payment method). To buy Bitcoins worth up to 1000 USD, it is enough to specify a phone number and an email address — for larger transactions and withdrawals from the platform, more complete verification is needed. Available cryptocurrencies: BTC, ETH, USDT, USDC. Fiat currencies: USD, EUR, UAH, KZT, and 100+ more.
- Bitcoin Global
The Bitcoin Global P2P platform was created as part of the popular cryptocurrency exchange WhiteBit. Almost all possible fiat currencies are supported, but the choice of cryptocurrencies, in turn, is small. Traditional KYC verification is not needed to use the website, but addresses and transactions are checked by AML (money laundering). There is a concept of a “confirmed user” — a client with a large trade turnover and 99% positive reviews can become one. There are no commissions for using the P2P exchange yet. For convenience, you can use a Telegram bot (you need to connect it to a web account in the settings). Available cryptocurrencies: BTC, ETH, USDT, TRX, HOGE. Fiat currencies: USD, EUR, UAH, KZT, and 100+ more.
The PexPay P2P exchange is a subsidiary of the crypto giant Binance, which started operating at the end of 2021. It makes sense to use it when you need no deposit/withdrawal methods on the crypto exchange. Using a Binance account to log in is best, but you can register separately if you wish. Verification is required to trade on the platform — a traditional KYC procedure. If you have passed it on to Binance, it is enough to connect PexPay account. In addition to the P2P service, spot trading and conversion without fees are available. PexPay is a Binance exchange with reduced functionality. Available cryptocurrencies: BTC, ETH, USDT, USDC, BUSD, BNB. Fiat currencies: USD, EUR, UAH, KZT, and another 30+.
SimpleSwap is a user-friendly platform for exchanging cryptocurrencies, both between each other and for fiat funds. The platform allows you to trade cryptocurrency without registering an account and without any limits on buying or selling. However, additional benefits are provided for registered users. Through registration, users can become members of the Loyalty Program and earn SWAP tokens for each cryptocurrency exchange. In the future, users can boost their cashback and receive BTC for each token swap. With the help of SimpleSwap, you can buy and sell a lot of cryptocurrencies for fiat funds using VISA/Mastercard cards. Many popular fiat currencies and more than 500 cryptocurrencies are supported. When exchanging or buying/selling cryptocurrencies, you can choose a floating or fixed rate. You get 100% of the amount you expect by fixing the exchange rate, despite the market volatility.
When choosing an exchange, it is important to determine its security. This is important because you are trading directly with other traders. It is also important to determine whether there are enough cryptocurrencies on the P2P exchange for transactions and whether there are many users. Experienced traders can also look for additional services such as staking, margin trading, or P2P crypto lending tools.