List of 10 Best P2P Crypto Exchanges in 2024

OKX is one of the world’s largest P2P Crypto Exchanges, with a provision for P2P crypto trades. It offers significant liquidity, zero trading fees, and quicker KYC verification. OKX also provides several trading options, including margin, futures, staking, and lending, ensuring the best trading experience.

Buying on OKX P2P

• To initiate a buy trade on OKX P2P, first verify the account
• Select the preferred fiat currency and cryptocurrency
• OKX offers filters for price or available amount to ease the search for the best deal
• After choosing a suitable offer, tap the buy button
• Specify the purchase amount and payment method
• Make and confirm the transaction
• OKX holds the purchased cryptocurrency for the buyer in escrow until the seller confirms the received payment
• As confirmed, the asset is transferred to the OKX wallet of the buyer

Selling on OKX P2P

• Select the payment currency to receive and the cryptocurrency to sell
• Confirm the deal and payment received from the buyer
• Release the cryptocurrency to complete the transaction

Established in 2015, Paxful is a specialist P2P Crypto Exchange. It stands out from the crowd since it exclusively accepts Bitcoin, USD Coin, and Tether as cryptocurrencies. Its strength, meanwhile, is the sheer variety of currency payment options it offers.

Buying on Paxful P2P

• Choose the desired cryptocurrency, payment method, fiat currency, and specific amount
• Buy with fee-free P2P trades, regardless of the chosen transaction amount or payment method

Selling on Paxful P2P

• Sellers might have to incur a 1% fee based on the transaction amount
• Select the crypto for sale and receive payments through various methods, including gift cards

KuCoin is widely popular for its diverse offerings. It ensures security via KYC verification and SMS authentication. Its P2P Crypto Exchanges is available on the KuCoin mobile app, and it facilitates secure asset transfers, allowing users to trade with various fiat currencies.

Buying on KuCoin P2P

• To begin trading on KuCoin P2P, complete KYC verification and SMS authentication
• Upon setup, move to the P2P tab, select the preferred fiat currency and cryptocurrency
• Choose from a list of available trade advertisements
• After selecting the best seller Ad, specify the trade amount
• Make and verify payment by completing the transaction within a specified timeframe

Selling on KuCoin P2P

• Choose the appropriate deal to sell the crypto
• Confirm the transaction once the fiat is received
• Release the crypto to the buyer

With Bybit’s peer-to-peer exchange, you can easily convert cryptocurrencies to many fiat currencies at no cost. Transactions are made more safe and frictionless by the platform’s 15-minute limit.

Buying on Bybit P2P

• To initiate P2P trading on Bybit, sign up and complete the Level 1 KYC
• Complete facial recognition and passport verification
• Navigate to the P2P tab and choose the option to buy
• Select the trade requirements and choose a listing matching the order specifications
• Once filtered, complete the transaction within the 15-minute time limit.

Selling on Bybit P2P

• The seller can release the cryptocurrency after verifying the money receipt and selecting the Sell option from the P2P trade page on Bybit P2P. If the cryptocurrency is not released within the specified 15-minute window, customers can contact Bybit support to request a resolution.

Bisq, which uses a decentralized and open-source trading approach, is among the top peer-to-peer cryptocurrency exchanges. The servers run the desktop program that Bisq buyers and sellers use. It enables direct connections without needing an intermediary, unlike centralized exchanges.

Buying and Selling on Bisq P2P

• Fiat payment agreements are compatible with Bisq’s open-source software. However, since there aren’t many solutions, consumers should be alert to the dangers.

Huobi is a go-to platform for cryptocurrency trading in developing economies. People love it all around Asia. The exchange accepts six cryptocurrencies and 59 different payment methods for your convenience. And the greatest thing is that neither sellers nor buyers are charged any fees. In addition to a bounty program for exposing website vulnerabilities, the platform offers an Anti-fraud Practitioner. This ensures that it remains safe and bug-free.

Buying on Huobi P2P

• Login to Huobi and click on Buy Crypto dropdown icon
• Choose the option of P2P
• Place the buy order and select the vendor suiting your offer
• Choose currency, amount, and payment method
• Place the order

Selling on Huobi P2P

• Log in to the Huobi account
• Select Buy Crypto and then choose the P2P option
• Toggle to the Sell option
• Choose asset and price
• Enter the amount and payment method
• Confirm the order

Get your crypto on LocalCoinSwap, the top peer-to-peer exchange. It incorporates twenty-plus digital items. Electronic wallets and local bank transfers are among the more than 300 accepted payment methods. The exchange also has a dashboard that is easy for newcomers to use. Additionally, it is equipped with a rating system.

Buying on LocalCoinSwap P2P

• Register or log in to your account
• Search for advertisements from buyers
• Open a trade that suits your requirements and agree to terms
• Pay the seller
• Mark payment complete, and the crypto gets transferred to your wallet

Selling on LocalCoinSwap P2P

• Sign up and search for an advertisement from a buyer
• Initiate the suitable trade and agree to terms
• Receive payment and release crypto

With BitValve, you may trade Bitcoin with other users directly. Crypto services can be made available to users in regulated regions. Trading on the P2P Crypto Exchanges is possible using various payment methods, including Xoom, local bank transfers, gift cards, prepaid phone credits, Apple Pay, Chime, and Payoneer. Additionally, it uses escrow systems to protect assets during transactions better.

Buying on BitValue P2P

• Login to your account and look for offers from sellers
• Find the trade that suits your preferred crypto and payment method
• Initiate a trade and communicate through chat
• Complete the trade using escrow
• Cryptocurrency will appear in your BitValve wallet upon completion

Selling on BitValue P2P

• Create an offer specifying the cryptocurrency and terms
• Wait for a buyer to initiate a trade based on your offer
• Communicate with the buyer through chat
• Release the cryptocurrency to finalize the trade once the fiat payment is received

Cryptocurrency exchange protocol OpenPeer is decentralized. It has just gone live, and its selling cost is a meager 0.3%. In comparison to other CEX fees, this one is quite affordable. Through decentralized relayers, the exchange also pays for gas. Users can expect minimal transaction costs because of this.

Buying on OpenPeer P2P

• Navigate to OpenPeer
• Select the desired cryptocurrency and payment method
• Initiate a trade with the chosen party and communicate through chat
• Complete the trade using the smart contract-based escrow
• Crypto will be transferred to your self-custody wallet upon completion

Selling on OpenPeer P2P

• Create an offer specifying the cryptocurrency and terms
• Wait for a buyer to initiate a trade based on your offer
• Communicate with the buyer through chat
• Release the cryptocurrency once the payment is received

Direct user-to-user connections are established in P2P Crypto Exchanges, eliminating intermediaries. Users post ads on these networks offering to purchase and sell cryptocurrency for fiat currency. Several factors, including the amount, currency, and chosen payment method, are used to personalize and filter these. After finding a relevant ad, users can trade and interact with peers directly based on their interests.

The exchanges employ escrow as a secure mediator to ensure the safety of the cryptocurrency assets during the validation process. After confirmation, the buyer’s wallet receives the cryptocurrency acquired, and the seller receives the agreed-upon fiat payment.

Consider the following aspects while selecting the most suitable P2P Crypto Exchanges:

Cryptocurrency Support

Verify if the exchange is compatible with the cryptocurrency you want to trade. Although Bitcoin and Ethereum are the most popular major L1 cryptocurrencies, the top peer-to-peer crypto exchanges also provide a diverse range of Altcoins.

Fiat Currencies and Payment Methods

Think about the platform’s accepted payment methods and the available fiat currencies. One of the top peer-to-peer cryptocurrency exchanges on our list, OKX, accepts various payment methods, including e-wallets, local and regional bank transfers, and over a hundred fiat currencies.

Fee Structure

Another factor to think about is the fee structure of P2P trading. Both buyers and sellers can take advantage of the zero-fee transactions offered by some top exchanges. Some, nevertheless, do, in fact, charge vendors a fee. Because of this, you need to be selective according to your tastes.

Security Protocols

Security should be prioritized on platforms that use escrows. This ensures the seller’s tokens are protected until the customer pays in full. A secure trading environment can also be achieved when it is time-bound.

Trading Volume

We should acknowledge the decreased trading volume on direct-nature exchanges. Therefore, choosing more popular platforms is smart; doing so guarantees faster transaction completion.

• Lower Fees: P2P exchanges are cost-effective as they eliminate intermediaries, resulting in lower transaction fees and more security.
• Enhanced Privacy: P2P exchanges have easier and quicker KYC requirements. It is highly appealing to users who like transactional privacy with anonymity.
• Greater Control: P2P exchanges offer more control over trades. They allow users to set personalized prices and filters.
• Localized Services: Crypto P2P exchanges offer effective local market trading. It helps facilitate transactions in local currencies and payment systems, easing transactions for the traders.
• Support for Various Payment Modes: P2P Exchanges offer numerous payment methods, including bank transfers, PayPal, etc. This provides users with diverse transaction options and flexibility.

• Higher Fraud Risk: The flexible KYC of P2P Crypto Exchanges exposes users to fraud and scam risks.
• Lower Liquidity: Some P2P exchanges have lower trading volumes. It impacts liquidity and makes large trades harder to execute.
• Lesser Transaction Times: Transactions on P2P platforms may be delayed as per the payment method. This raises a concern for traders who rely on timely execution.
• Lack of Customer Support: P2P exchanges sometimes need more dedicated customer support. This poses challenges for users when dealing with transactional issues.

When it comes to peer-to-peer cryptocurrency exchanges, every platform has its own unique set of characteristics. People with different trading tastes can benefit from this. In addition to numerous supported cryptocurrencies, they provide their users with top-notch security measures and fee benefits. Users benefit from quick and safe savings and transfers. One low-cost alternative to more conventional approaches is peer-to-peer (P2P) trading. Transactions are made more efficient and safer as a result.