The 25 Best P2P Cryptocurrency Exchanges (2023)

Cutting out brokers and thus allowing direct transactions between people is the ultimate intent of blockchain cryptocurrency technology as envisioned by Bitcoin founder Satoshi Nakamoto. P2P (person-to-person, or peer-to-peer) exchanges are the closest to this vision.

Brokers not only create bottlenecks but also charge fees thus making transactions expensive. However, peer-to-peer transactions aren’t necessarily cheaper if you aren’t aware of the right crypto market to buy or sell your digital assets. This is the reason why we have prepared a list of the best cryptocurrency exchanges as far as P2P transactions are concerned.

best p2p cryptocurrency exchange

The list of Top 25 P2P crypto exchanges

The following is a list of the top-25 peer-to-peer networks that you can transaction without having to bother about intermediaries:

1. Binance P2P

Binance P2P is the largest P2P crypto exchange platform. This is because it has the highest number of participants, the largest volume of P2P exchanges, and the greatest number of crypto pairs and supports the biggest number of fiat currencies. Furthermore, this P2P platform is truly a global P2P exchange platform that is available in almost all crypto-friendly countries.

Requirements

  • Know-Your-Customer (KYC)

Supported coins and payment methods

  • Major cryptos: These include BTC, ETH, DAI, BUSD, BNB
  • Local fiats: more than 100 fiat currencies
  • Transfer methods: credit cards, debit cards, bank transfers, PayPal, etc.
  • Transaction fee: varied depending on the markets and trading pairs. Ranges from 0% to 0.35%

Pros

  • Globally available
  • A wide array of trading pairs
  • More than 100 different payment methods
  • Widest support for local currency
  • Integrated with the regular Binance crypto trading platform which allows spot trading.

Cons

  • Obtrusive KYC requirements, especially facial recognition which tends to fail often.
  • Not available in the US

2. Kucoin

If you are one of those advanced crypto traders who want to leverage the benefits of P2P transactions, then Kucoin is the right peer-to-peer exchange platform for you.

Kucoin home page
Kucoin P2P Crypto Exchange

Requirements

  • National ID
  • Passport photo
  • Minimal KYC verification

Supported coins and payment methods

  • Major cryptos: BTC, ETH, BNB, ADA, USDT, DOGE, USDC, BNB, XRP
  • Local fiats: 28 major fiat currencies
  • Transfer methods: Credit cards, debit cards, Apple Pay, Google Pay
  • Transaction fee: 0.1%

Pros

  • Low trading fees
  • Wide variety of coins and pairs

Cons

  • Not ideal for retail traders
  • Fewer payment methods

3. ByBit

One thing that sets ByBit apart from the rest is its cryptocurrency derivatives exchange. In addition, its zero trading fees make it a very attractive choice for both crypto investors and crypto traders.

ByBit P2P Crypto Exchange
ByBit P2P Crypto Exchange

Requirements

  • Sign-Up
  • KYC verification

Supported coins and payment methods

  • Major cryptos: all major cryptocurrencies
  • Local fiats: most local currencies
  • Transfer methods: debit cards, credit cards, in-person payment, etc.
  • Transaction fee: 0

Pros

  • 24/7 trading
  • 350 payment options

Cons

  • KYC requirements
  • Complex identity verification process

4. OKX

If you want a quick way to get started in the P2P trades, OKX is one of the best in the crypto market. KYC requirements are through graduated levels which means if you just want basic features you don’t pain yourself engaging in a complicated KYC process. Furthermore, it provides escrow security features.

OKX homepage
OKX P2P Crypto Exchange

Requirements

  • KYC verification – Level-based. Level 1 requires email and phone verification. Advanced levels require more user data verification.

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT, LTC, EOS, BCH, XMR, etc.
  • Local fiats: 20 fiat currencies
  • Transfer methods: debit cards, credit cards, bank transfers, eWallet, etc.
  • Transaction fee: multi-tiered transaction fees

Pros

  • Zero service fee
  • Easy user interface
  • Hundreds of currency pairs
  • Helpful educational resources

Cons

  • Complex multi-tiered structure

5. Huobi

What distinguishes Huobi from other P2P trading platforms is its fast and smooth transaction process. The sign-up process is also easy and has minimal requirements. This provides an enhanced user experience.

Huobi Peer to peer exchange
Huobi P2P Crypto Exchange

Requirements

  • Email address
  • National ID

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT, LTC, EOS, BCH, XMR, HUSD (Huobi USD), HT (Huobi Token), and BSV, among others
  • Local fiats: 45 fiat currencies.
  • Transfer methods: credit cards, debit cards, bank transfers
  • Transaction fee: 0.2% plus volume-dependent discounts

Pros

  • Simple and user-friendly interface
  • Minimal requirements

Cons

  • Lengthy verification process
  • Limited jurisdiction for fiat transactions.

6. SimpleSwap

If you want a quick and user-friendly interface where you can enjoy the benefits of both fixed and floating exchange rates, then, SimpleSwap is your best option. You can swap both cryptos and fiat money.

SimpleSwap homepage
SimpleSwap P2P Crypto Exchange

Requirements

  • KYC verification (in some instances)

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT, ADA, LTC, AVAX, XRP, XLM, BNB, etc.
  • Local fiats: USD, EURO, GBP, RUB, TRY, UAH, etc.
  • Transfer methods: Credit cards, Apple Pay, SEPA credit transfer
  • Transaction fee: variable, depending on the currency and payment method. Ranges from 0.5% to 1.5%.

Pros

  • User-friendly interface
  • Affiliate royalty program

Cons

  • Mandatory KYC in some cases
  • Lacks features for advanced traders

7. Hodl Hodl

The referral program is probably the most unique feature of Hodl Hodl. In this case, you can reduce trading costs by simply referring someone else to the platform. This platform charges 0.6% transaction fees shared between makers and takers. Being a fully decentralized exchange makes it have minimal sign-up requirements. Hodl Hodl is primarily a P2P Bitcoin exchange platform where transactions take place between one Bitcoin wallet and another.

Hodl Hodl P2P Crypto Exchange
Hodl Hodl P2P Crypto Exchange

Requirements

  • Two-factor authentication

Supported coins and payment methods

  • Major cryptos: BTC, ETH, XRP, ADA, AVA, SOL
  • Local fiats: None.
  • Transfer methods: Inter-wallet transfers
  • Transaction fee: 0.6% shared between buyer and seller

Pros

  • Multisig escrow accounts
  • No KYC/AML requirements
  • Referral program
  • Low transaction fees

Cons

  • Fewer payment methods
  • Low trade volume
  • No support for fiat currencies
  • Only has an online platform

8. Bisq

If you want anonymity, Bisq’s peer-to-peer exchange is ideal for you. As a decentralized exchange, Bisq does not engage in KYC/AML activities. Sellers pay 0.1% transaction fees while buyers pay 0.7% transaction fees.

Requirements

  • Minimal.
  • No KYC verification

Supported coins and payment methods

  • Major cryptos: BTC, ETH, XMR, BSQ
  • Local fiats:
  • Transfer methods:
  • Transaction fee: seller pays 0.1%, buyer pays 0.7%

Pros

  • No KYC/AML requirements
  • Fast transaction process

Cons

  • Higher transaction costs
  • Limited features, which makes it unfit for advanced traders

9. Bitfada

Bitfada is another P2P service platform whereby users can earn affiliate commissions on referrals. This commission is 40% of the escrow fees.

Bitfada P2P Crypto Exchange
Bitfada P2P Crypto Exchange

Requirements

  • National ID
  • Bank details
  • KYC verification
  • Email ID

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT
  • Local fiats: major fiat currencies
  • Transfer methods: credit cards, debit cards, bank transfer
  • Transaction fee: 0

Pros

  • Escrow facility
  • Affiliate Program
  • Mobile apps

Cons

  • KYC requirements
  • Scanty details

10. WazirX

If you are based on the Indian sub-continent, WazirX is the best peer-to-peer exchange platform for you. WazirX is part of the Binance ecosystem. While it is an international crypto platform, it mainly caters to the Indian crypto space.

WazirX P2P Crypto Exchange
WazirX P2P Crypto Exchange

Requirements

Not explicitly stated.

Supported coins and payment methods

  • Major cryptos: BTC, XRP, ETH, LTC, USDT, etc.
  • Local fiats: 8 fiat currencies including USD, Indian Rupees, and Turkish Lira, among others.
  • Transfer methods: fiat-only methods
  • Transaction fee: 0.2%

Pros

  • Backed by Binance
  • Target market (India)

Cons

  • Low liquidity
  • Fewer trading pairs
  • Not ideal for those outside India

11. LocalCoinSwap

LocalCoinSwap is another alternative to LocalBitcoins but much lighter. Its user-friendly interface makes it ideal for beginners.  

LocalCoinSwap P2P Crypto Exchange
LocalCoinSwap P2P Crypto Exchange

Requirements

  • Minimal requirements
  • KYC (optional)

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT, DAI, DASH, NEXO, LCS (LocalCoinSwap Loyalty token).
  • Local fiats: 160+ fiat currencies
  • Transfer methods: Cash deposit, PayPal, Skrill, bank transfer PayID, Wise, in-person cash, etc.
  • Transaction fee: 1%

Pros

  • Escrow smart contracts
  • A wide array of fiat currencies
  • 20+ cryptos

Cons

  • Plenty of confusing choices
  • Low liquidity

12. Remitano

Based in Seychelles, Remitano is a P2P exchange platform for transacting in 60+ currencies.

Reminato P2P Crypto Exchange
Reminato P2P Crypto Exchange

Requirements

  • Multi-tiered verification process

Supported coins and payment methods

  • Major cryptos: BTC, ETH, EOS, ADA, BCH, XRP, LTC, USDT, etc.
  • Local fiats: Indian Rupees, Nigerian Naira, Venezuelan Boliver, Vietnam Dong
  • Transfer methods: credit cards, deposit cards, bank transfer
  • Transaction fee: variable

Pros

  • Affiliate Program
  • Region-specific interface
  • Mobile apps

Cons

  • Supports very few fiat currencies
  • Low trade volume
  • Complex fee structure
  • Scanty details

13. AirSwap

If you want a P2P exchange platform that does not charge trading fees, then, AirSwap is your best option. All that AirSwap requires you to do is to stake 250 AirSwap Tokens (AST) which will entitle you to interest earnings – a Win-Win deal.

AirSwap P2P Crypto Exchange
AirSwap P2P Crypto Exchange

Requirements

  • Stake 250 ASTs.

Supported coins and payment methods

  • Major cryptos: ETH, BNB, AST, DAI, BAT, etc.
  • Local fiats: N/A
  • Transfer methods: crypto swap
  • Transaction fee: 0

Pros

  • Zero trading fees
  • Zero deposit and withdrawal fees
  • No sign-up requirements
  • No deposit requirements

Cons

  • No fiat currency support

14. WhalesHeaven

When you want a straightforward P2P exchange with an instant swap mechanism, WhalesHeaven becomes your ideal exchange. This platform allows you to swap coins from different trading platforms directly. All that you need is to download the WH Cypher browser extension which works similarly to Meta Wallet save for its swapping mechanism.

WhalesHeaven P2P Crypto Exchange
WhalesHeaven P2P Crypto Exchange

Requirements

  • Minimal
  • Download the WH Cypher browser extension.

Supported coins and payment methods

  • Major cryptos: BTC, ETH, BSC, AVA, NEO, DOGE, etc
  • Local fiats: Not supported
  • Transfer methods: inter-wallet swap
  • Transaction fee: 0

Pros

  • No account opening
  • No personal information
  • Direct swap
  • Multisig wallet

Cons

  • Scanty details
  • No support for fiat withdrawal

15. Vertex

If you want to enjoy the benefits of traditional Centralized Exchanges (CEX) yet still operate on a Decentralized Exchange (DEX), Vertex Protocol is ideal for you. Vertex is a DEX with CEX-level features that allows you to enjoy the benefits of both worlds.  

Vertex P2P Crypto Exchange
Vertex P2P Crypto Exchange

Requirements

  • Sign-Up

Supported coins and payment methods

  • Major cryptos: BTC, ETH, etc.
  • Local fiats: USD, EURO, GBP
  • Transfer methods: Local bank transfer, SEPA transfer, PayPal, Google Pay, Skrill, credit card, Apple Money, WebMoney.
  • Transaction fee: a small fee

Pros

  • A DEX with CEX-level features
  • Self-custody cryptocurrency wallets
  • Lightning-fast order matching
  • Seamless fiat-crypto conversion
  • Multiple fiat transfer methods

Cons

  • Not fully launched.

16. CoinCola

If you are looking for a P2P Marketplace to blend both P2P and OTC trading, then CoinCola is your ideal choice. You can also buy and sell Gift Cards on this platform.

CoinCola P2P Crypto Exchange
CoinCola P2P Crypto Exchange

Requirements

  • Sign-Up
  • KYC verification

Supported coins and payment methods

  • Major cryptos: BTC, USDT, ETH, LTC, BCH, XRP, EOS, DASH
  • Local fiats: Main fiat currencies.
  • Transfer methods: bank transfers, PayPal, Western Union, online wallets, and Gift Cards.
  • Transaction fee: 0.1% trading fees, plus 0.0004 BT withdrawal fee.

Pros

  • Gift-Card-to-Crypto exchange
  • Provides cold storage services
  • P2P plus OTC support

Cons

  • KYC requirements.
  • Limited trading pairs

17. Shiftal

Shiftal P2P Exchange is ideal for those based on the Indian subcontinent and its environs. It charges a very small fee for its transactions.

Shiftal P2P Crypto Exchange
Shiftal P2P Crypto Exchange

Requirements

  • Sign-Up
  • KYC verification

Supported coins and payment methods

  • Major cryptos: BTC, ETH
  • Local fiats: Major fiat currencies
  • Transfer methods: Bank transfers, credit cards, UPI, digital wallets, etc.
  • Transaction fee: 1%

Pros

  • Escrow security
  • 24/7 customer support

Cons

  • Low liquidity
  • Few cryptos supported
  • Scanty details

18. Bitcoin Global

If you are looking for a P2P exchange that charges a very small fee for its transactions, then, Bitcoin Global can be a good choice.  

Bitcoin Global  landing page
Bitcoin Global P2P Crypto Exchange

Requirements

  • Sign-Up

Supported coins and payment methods

  • Major cryptos: BTC, ETH, USDT, TRX, HOGE
  • Local fiats: Major fiat currencies
  • Transfer methods: bank transfer.
  • Transaction fee: USDT, $1; BTC, 0.0004BTC; ETH, 0.005 ETH

Pros

  • No KYC requirements
  • Telegram bot
  • Low fees

Cons

  • Not popular
  • Scanty details available

19. AgoraDesk

The benefits of Escrow security make AgoraDesk one of the trusted P2P exchange platforms in the crypto space today.

AgoraDesk homepage
AgoraDesk P2P Crypto Exchange

Requirements

  • Minimal

Supported coins and payment methods

  • Major cryptos: BTC, XMR,
  • Local fiats: Major fiat currencies
  • Transfer methods: bank transfers, credit cards, gift cards, PayPal, Venmo, etc.
  • Transaction fee: 1%

Pros

  • No KYC requirements
  • Escrow security
  • Wide array of fiat currency transfer methods

Cons

  • Relatively new
  • Relatively high transaction fee
  • Supports fewer cryptos
  • Scanty details

20. Peach Bitcoin

For Eurozone customers who want a local P2P exchange platform, Peach Bitcoin is the ideal choice. This is a mobile-only P2P platform.

Peach Bitcoin P2P Crypto Exchange
Peach Bitcoin P2P Crypto Exchange

Requirements

  • Minimal

Supported coins and payment methods

  • Major cryptos: BTC
  • Local fiats: EURO, GBP, CHF, DKK, etc.
  • Transfer methods: Bank transfer, PayPal, Wise, Revolut, Amazon Gift Cards, etc.
  • Transaction fee: 2%

Pros

  • No KYC requirements
  • Non-custodial
  • Mobile apps interface

Cons

  • No web trading interface
  • High transaction fees

21. Robosats

Privacy-focused crypto traders will find Robosats P2P exchange the platform of choice. In addition to not requiring user details, Robosats provides secure Tor access that leaves no internet trail.

Robosats P2P Crypto Exchange
Robosats P2P Crypto Exchange

Requirements

  • Tor browser

Supported coins and payment methods

  • Major cryptos: BTC, plus 60 trading pairs
  • Local fiats: USD, EURO, JPY, plus 57 more
  • Transfer methods: Bank transfers, PayPal, Wise, Venmo, Amazon Gift Cards, Cash Apps, etc.
  • Transaction fee: 0.2%

Pros

  • No KYC requirements
  • No user data is required
  • Lightning-fast
  • Privacy-oriented
  • Charges a very small fee

Cons

  • Relatively new
  • No mobile apps

22. AltMarket

If you happen to be in the UK and its environs, AltMarket is a P2P marketplace to pay attention to.

AltMat P2P Crypto Exchange
AltMat P2P Crypto Exchange

Requirements

  • Minimal

Supported coins and payment methods

  • Major cryptos: BTC
  • Local fiats: N/A
  • Transfer methods: crypto swaps
  • Transaction fee: 0.25%

Pros

  • Low trading fees

Cons

  • Does not support fiat currency
  • Not global

23. Swapika

If you are looking for a hassle-free P2P swap interface, then, try Swapika. It allows instant swaps at a low fee.

Swapika P2P Crypto Exchange
Swapika P2P Crypto Exchange

Requirements

  • Minimal

Supported coins and payment methods

  • Major cryptos: BTC, ETH, plus 600 more
  • Local fiats: N/A
  • Transfer methods: crypto swaps
  • Transaction fee: a very small fee

Pros

  • No registration requirements
  • No KYC requirements
  • User-friendly interface
  • Instant swap
  • Low fees

Cons

  • Scanty details
  • No fiat money support

24. Buxano

The lovers of Trading options will find the Buxano P2P exchange platform their ideal choice. In addition to having a simple user-friendly interface, it has no KYC requirements thus smoothening user experience.

Buxano P2P Crypto Exchange
Buxano P2P Crypto Exchange

Requirements

  • Minimum trading volume of 0.0002 BTC.

Supported coins and payment methods

  • Major cryptos: BTC
  • Local fiats: N/A
  • Transfer methods: cryptos
  • Transaction fee: 0.0005 BTC (withdrawal fees)

Pros

  • Simple and user-friendly interface
  • No KYC requirements
  • Fast transaction process

Cons

  • Scanty details

25. Giottus

Another great Crypto P2P exchange based on the Indian Subcontinent is Giottus. The platform boasts escrow protection and cold wallet storage.

Giottus P2P Crypto Exchange
Giottus P2P Crypto Exchange

Requirements

  • Sign-Up
  • KYC

Supported coins and payment methods

  • Major cryptos: BTC, ETH, LTC, BCH, XRP.
  • Local fiats: Indian Rupees
  • Transfer methods:
  • Transaction fee: trading fees, 0.25%; withdrawal fees, 0.0001 BTC.

Pros

  • Escrow facility
  • Low fees
  • Supports cold storage

Cons

  • Relatively new
  • Few crypto pairs
  • Low volume
  • KYC requirements
  • Not ideal for those outside the Indian subcontinent

Factors to consider in choosing the right P2P Exchange platform

The following are important factors that you need to consider in choosing the right P2P exchange platform:

  • Exchange rate – some platforms offer better exchange rates than others. Exchange rates are better on those platforms with high trade volume since competition is stiff which lowers the exchange rate.
  • Transaction fees – Ideally, you should choose a platform with low fees.
  • Support for local currency – Eventually, you would want to withdraw your bought digital assets. You will need to do this in local currency. Thus, your best crypto exchange platform must support your desired local currency.
  • Support for fiat methods – whether you are buying or selling cryptos, you will most likely need to use fiat currency in the process. This requires you to ensure that your preferred platform supports credit cards, debit cards, direct withdrawals to your bank account, or even a mobile money wallet.
  • Customer support – once in a while, you may need customer support. Be sure that it exists beforehand, otherwise, you may be disappointed at the acute time of need.
  • Security requirements – some platforms have more stringent KYC and AML requirements than others. For example, you may need to two-factor authentication in addition to providing your details. Make sure that such security measures do not unnecessarily expose your personal information.
  • Escrow services – when you are dealing with a decentralized exchange, the onus is upon you to make sure that you are not scammed. As such, you need an escrow account where funds will only be released when both parties have confirmed the completeness of the transaction. Thus, choose a P2P marketplace that provides escrow service as a protection measure. This is automatically provided via smart contracts without third-party involvement.

Conclusion

The 2022 crypto winter left many leading P2P global marketplaces shutting their doors. These include LocalBitcoins, LocalCryptos, and Paxful. Nonetheless, the competitive advantage of P2P trading has ensured that survivors and new entrants continue to flourish. New entrants such as AirSwap, AgoraDesk, PeachBitcoin, Robosats, and Telegram are upping their P2P game.  The above list gives you P2P marketplaces where you can buy or sell cryptos or swap for local fiat money.

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