6 Best P2P Cryptocurrency Exchanges

Binance: Leading Extensive Exchange with P2P and Trading Leverage

Binance is a widely recognized P2P cryptocurrency broker and one of the best platforms offering seamless P2P trading. To access Binance’s services, users must complete KYC verification. This product enables individuals to trade crypto for fiat without third-party involvement, bypassing traditional spot exchanges while ensuring secure, verified transactions.

Buying on Binance P2P:

1. Select your desired cryptocurrency and browse listed sales to find the best deal.
2. Use filters for value, currency, and payment methods for informed decisions.
3. Place an order by choosing a payment method.
4. Complete and confirm the transaction.
5. Binance holds the crypto in escrow until the seller confirms fiat payment.
6. Once confirmed, crypto is credited to the buyer’s Binance wallet.

Selling on Binance P2P:

1. Hold the crypto in your Binance funding wallet.
2. Choose the preferred fiat currency.
3. Review buyer ads matching your trade specs.
4. Confirm the deal and await fiat transfer.
5. Release crypto upon payment confirmation.

Supported Currencies:

• 70+ cryptocurrencies
• 100+ fiat currencies

Pros and Cons

Pros:

• Secure intermediary for P2P trades.
• Direct buyer/seller communication with Binance support.
• KYC-verified traders only.

Cons:

• Prices may not align with individual preferences.
• Lower liquidity vs. spot markets.
• Risks from incorrect transaction verification.

OKX: Enhanced Security and Fast KYC Process

OKX is a top global exchange with robust P2P trading, offering zero fees, high liquidity, and quick KYC. It supports margin, futures, staking, and loans for a comprehensive trading experience.

👉 Explore OKX’s P2P marketplace

Buying on OKX P2P:

1. Verify your account.
2. Select fiat and crypto.
3. Filter by price/amount.
4. Confirm payment; OKX holds crypto in escrow.

Selling on OKX P2P:

1. Choose payout currency and crypto.
2. Confirm payment receipt.
3. Release crypto.

Supported Currencies:

• 100+ cryptocurrencies
• 84+ fiat currencies

Pros and Cons

Pros:

• No P2P fees.
• Fast KYC setup.
• High platform security.

Cons:

• Fewer crypto options vs. competitors.
• Lower liquidity than spot/futures.

Paxful: Specialized P2P Trading with Diverse Payment Methods

Paxful, launched in 2015, supports only Bitcoin, USDT, and USDC but excels with 350+ fiat payment options, including gift cards.

Buying/Selling:

• Buyers enjoy fee-free trades.
• Sellers pay a 1% transaction fee.

Supported Currencies:

• Bitcoin, USDT, USDC
• 350+ fiat currencies

Pros and Cons

Pros:

• 130+ gift card options.
• No buyer fees.

Cons:

• Limited to 3 cryptos.
• Seller fees reduce competitiveness.

KuCoin: Diverse Offerings with Strong Security

KuCoin’s P2P trading requires KYC/SMS auth and supports 700+ cryptos and 30+ fiats.

Buying/Selling:

• Secure asset transfers via KuCoin’s mediation.
• No P2P fees.

Supported Currencies:

• 700+ cryptocurrencies
• 30+ fiat currencies

Pros and Cons

Pros:

• Simple mobile UX.
• KYC-only trader interactions.

Cons:

• Incorrect transaction risks.

Bybit: Quality P2P Marketplace for Leveraged Crypto

Bybit allows fee-free crypto-to-fiat conversions with a 15-minute transaction window.

👉 Trade on Bybit P2P

Buying/Selling:

• Sellers release crypto post-payment confirmation.
• Disputes resolved via Bybit support.

Supported Currencies:

• 4 cryptocurrencies
• 73 fiat currencies

Pros and Cons

Pros:

• No trading fees.
• Fast 15-minute resolution.

Cons:

• Low liquidity vs. spot exchanges.

Bisq: Decentralized P2P Trading Prioritizing Anonymity

Bisq is open-source and decentralized, requiring no KYC but charging higher fees (0.7% for takers).

Buying/Selling:

• Direct peer connections; limited dispute resolution.

Supported Currencies:

• 5 cryptocurrencies
• 14 fiat currencies

Pros and Cons

Pros:

• No KYC; high privacy.
• Open-source software.

Cons:

• Security uncertainties.
• High commission fees.

FAQs

1. Which P2P exchange has the lowest fees?

• OKX and Bybit charge zero P2P fees, while Binance/Paxful impose minimal costs.

2. Is KYC mandatory for P2P trading?

• Yes, on centralized exchanges (Binance, OKX). Bisq requires no KYC.

3. Which platform supports the most fiat currencies?

• Paxful (350+), followed by Binance (100+).

4. How long do P2P transactions take?

• Bybit’s 15-minute window is fastest; others vary by payment method.

5. Can I trade anonymously?

• Only Bisq offers full anonymity.

6. Which exchange is best for high liquidity?

• Binance and OKX lead in liquidity.

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