Best P2P Cryptocurrency Exchanges In 2024

    For transactions with digital currencies, users often use P2P platforms (peer-to-peer, “from equal to equal”). These peer-to-peer systems provide decentralization, subjects transaction equality and their free interaction.

    P2P platforms provide the ability to buy and sell cryptocurrencies without the involvement of a third party. Users interact directly with each other, set their own transaction terms (rate, payment methods) and save on commissions for transactions.

    P2P as a form of trading has been around for a long time, and now many large marketplaces are adding the function of direct transactions between users, acting as a kind of “meeting point” for the seller and buyer of assets.

    In the new article we will tell you about the features of P2P exchanges and highlight the TOP 5 of the best of them. We also compare peer-to-peer platforms with OTC and conventional exchanges.

    TOP 5 best P2P exchanges

    1. OKX

    P2P platform address:

    Best P2P cryptocurrency exchanges
    P2P trading on the OKX exchange
    Read also: Detailed OKX review.
    • Multilingual interface;
    • Verification required;
    • Direct transactions with top currencies: BTC, ETH, USDT, USDC, TUSD, DAI;
    • Purchase cryptocurrency for 100+ fiat currencies: USD, EUR, GBP, etc.;
    • Intuitive interface and simple application form;
    • A large number of payment methods, including bank cards and transfers;
    • For reliability, you can set the required level of KYC of the counterparty;
    • P2P guide with platform guide.

    2. Bybit

    P2P platform address:

    P2P trading on the Bybit exchange
    P2P trading on Bybit
    Read also: Bybit review.
    • Multilingual interface;
    • Verification optional;
    • Direct trades with BTC, ETH, USDT;
    • Purchase cryptocurrency for 25+ fiat currencies;
    • Zero commission for all participants in the transaction;
    • Wide variety of payment methods.

    3. Binance

    P2P platform address:

    P2P trading on the Binance exchange
    P2P trading on Binance
    Read also: Binance review.
    • P2P trading from the largest crypto exchange by trading volume;
    • Multilingual interface;
    • Requires mandatory verification, as well as setting up SMS and Google authentication;
    • Direct transactions with Bitcoin and popular altcoins (ETH, USDT, DAI, BUSD, BNB);
    • Purchase cryptocurrency for 80+ fiat currencies;
    • 100+ payment options;
    • Commission for transactions: 0%;
    • An outstanding number of direct exchange offers and payment methods.

    4. Bitpapa

    P2P platform address:

    P2P trading on the Bitpapa exchange
    P2P trading on Bitpapa
    • Multilingual interface;
    • Anonymous transactions without registration and verification;
    • Top cryptocurrencies are available for direct transactions: BTC, ETH, USDT, TON, XMR;
    • Purchase of cryptocurrency for fiat currencies: USD, EUR, GBP, TRY, UAH, etc.;
    • 100+ payment methods;
    • P2P transactions using Telegram bot;
    • Free multi-currency wallet.

    5. Kucoin

    P2P platform address:

    P2P trading on the Kucoin exchange
    P2P trading on Kucoin
    • Multilingual interface;
    • Mandatory verification is not required, but you need to link a phone number to your account;
    • Direct transactions with BTC, ETH, USDT, USDC and the exchange’s native token – KCS;
    • 20+ payment methods;
    • Transactions without commission.

    Features of P2P exchanges

    Peer-to-peer platforms work on the principle of direct sale from person to person. A P2P transaction occurs as follows: the user leaves an order for the sale or purchase of a certain asset, indicates the quantity. If the second party to the transaction is satisfied with the offer, it responds to the request and the exchange is carried out. The P2P platform in this case acts as a transaction guarantor.

    Features of P2P platforms:

    • Decentralization;
    • Equality of rights for all participants in the transaction;
    • Transactions on users’ own terms (exchange rate and payment methods);
    • No transaction fees;
    • Fair deal guarantee.

    P2P vs OTC

    In terms of time spent on transactions, OTC (over-the-counter) exchanges provide the ability to buy and sell cryptocurrencies instantly through an administrator or broker.

    On P2P exchanges, users trade directly with other users. In order for the transaction to take place, the buyer needs to find the seller, initiate the transaction and wait until the seller agrees to it. Therefore, the duration of the transaction is difficult to predict, since it depends on the willingness of each party to complete their part of the transaction.

    Thus, OTC is better for instant trades. Whereas P2P exchanges provide more flexibility and potential profits.

    Over-the-counter (OTC) trades are better suited for larger and anonymous trades. P2P transactions are best for small transactions as the minimum amount can be as low as $10. Peer-to-peer systems also allow you to develop a private crypto business: you can build business relationships with users with whom you interact frequently, and so on.

    P2P vs Regular Exchanges

    Unlike classical centralized exchanges, where the asset rate is formed by the market (the ratio of supply and demand), on P2P platforms the price is set at the discretion of the user. It can be either better or worse than the market. However, you can choose the offer that suits you and buy or sell cryptocurrency on the most favorable terms.

    In addition, the absence of intermediaries allows you to conduct transactions with 0% commission. Also P2P exchange often does not require verification, so you can trade cryptocurrency anonymously. Another one feature is the list of payment methods is pretty wide, so you can choose any you want almost anytime.

    One of the biggest cons of P2P: cause of less liquidity forms, it takes more time to complete a trade.

    How to choose a reliable P2P exchange

    There are several parameters should be taken into account to select a p2p platform: project reputation, trading conditions, verification requirements, reviews and so on.

    One of the most important points is security measures on the platform and the security of user funds. Most P2P services use the escrow system. It assumes that during the transaction, funds are transferred to a special account and are available only after confirmation of payment.

    How to buy and sell cryptocurrency on a P2P exchange

    Let’s see how it works on the example of Binacne P2P.

    1. Go to and create an order to buy/sell an asset;
    2. Select the Buy tab on the left for buying and Sell for selling;
    3. Choose cryptocurrency that you will buy/sell (BTC, ETH, USDT, DAI, BUSD, BNB are currently available on the exchange). For example, buy USDT;
    4. Select the fiat currency for payment, for example, EUR and enter its amount in Amount;
    5. Define payment method, for example, Payeer;
    6. Then, you can select region(optional), or you can leave line All Regions;
    7. The platform will issue offers from USDT sellers who sell coins for EUR based on filled parameters, accept payment via Payeer and have enough coins to trade with you;
    8. Choose the best offer in your opinion and, on the contrary, press Buy USDT;
      Buy UDT with EUR
      Buying UDT with EUR
    9. More detailed information on your application will be available in a special window: enter the amount in EUR, and the system will automatically calculate how much USDT you will receive;
    10. If everything suits you, click Buy USDT and proceed to payment.
      USDT Purchase Order
      Order to buy USDT

    Pros and cons of P2P exchanges

    Direct transactions between users without intermediaries;
    Equality of participants in the transaction and their free interaction;
    Quick start and ease of use: without registration and verification (most often);
    Users set the selling/buying rate themselves;
    Purchasing cryptocurrency for fiat money;
    A large number of payment methods;
    Transactions with 0% commission;
    The platform acts as a guarantor of a fair transaction;
    Disputes between participants are resolved by public arbitrators;
    Escrow-accounts for secure transactions.
    Low liquidity;
    There are not always a sufficient number of applications for the purchase or sale of the desired asset;
    The price of the asset is determined by the seller at your own discretion;
    Waiting for a lucrative offer may be delayed;
    Risk of buying so-called “dirty coins”: money that has previously been involved in drug trafficking or other illegal activities.


    Are there P2P platforms without verification?
    Yes, there are peer-to-peer platforms without mandatory KYC verification. From our ranking, these include: Bybit and Kucoin.
    How long do P2P transactions take?
    Peer-to-peer transactions take time to complete, they are not instantaneous as they are on OTC platforms. Moreover, the duration of the transaction is difficult to predict, since it depends on how quickly each party fulfills its part of the obligations. It usually does not take more than 15 minutes.
    Are P2P transactions secure?
    P2P transactions are carried out without the participation of third parties, and the platform acts as a guarantor of a fair transaction. In case of questions, there are public arbitrators who resolve disputes between users. These platforms also use escrow accounts: these are special escrow accounts in which funds are held until both parties to the transaction fully fulfill their obligations.
    Which is the best P2P exchange?
    We wrote about reliable P2P platforms in the section TOP 5 best P2P exchanges. Best platforms ranked: OKX, Bybit, Binance, Kucoin.
    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the portal since 2022.
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