Finder makes money from featured partners, but editorial opinions are our own. Advertiser disclosure

7 best P2P crypto exchanges

We reviewed the top peer-to-peer trading platforms based on fees, features, user experience and more.

Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.

Each year, we conduct a comprehensive review of global peer-to-peer (P2P) exchanges. To determine our picks, we’ve compared several P2P exchanges based on a number of aspects, including user experience, security, features, supported assets and fees.

⚠️ Before we dive in, it’s important to highlight that some of these exchanges or their P2P trading service may not be available in your location. Check this directly with the trading platform before creating an account.

Best P2P crypto exchanges of 2024

Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.

1. Binance P2P – Best P2P exchange overall

Binance Cryptocurrency Exchange

370
Supported cryptos
71
Fiat currencies

The P2P functionality of Binance’s platform allows KYC-verified customers to trade cryptos for fiat currencies directly with a user rather than on the spot exchange.

Buying P2P: Navigate to the P2P platform and select the crypto you want to purchase. You will see a list of advertised sales, which can be filtered by amount, currency and payment method. Once you find a suitable ad, place your order, select a payment method and confirm the transaction. Once the order is completed, the seller will release the crypto, which will be deposited into your account by Binance.

Selling P2P: Before selling crypto P2P, you must hold your chosen coin or token in your funding wallet. Select the crypto you want to sell and your chosen fiat currency as the payment method. Once selected, you can see the available offers and choose a buyer that fits your trade specifications. Once the buyer has made the payment, verify the correct amount has been sent and confirm the release.

Note that Binance charges neither a maker fee nor a taker fee on its P2P exchange. Also, please note that the numbers of cryptos and fiat currencies available for trading on Binance's P2P exchange are different than the numbers listed at the top of this section, which are the numbers of cryptos and fiat currencies that the Binance exchange supports. Binance P2P supports 8 crypto assets and 121 fiat currencies.

The fiat transaction is made outside the Binance platform between the buyer and the seller. Once the order is submitted, Binance holds the cryptocurrency in escrow until the seller confirms that they have received the cash payment.

You can contact your selected buyer/seller directly using the Binance chat window. If you do not receive your funds in the specified time, contact a Binance customer support agent with an appeal request. Binance Cryptocurrency Exchange markets interface

Pros
  • Binance acts as an intermediary to ensure correct payments are sent and received
  • Chat with the buyer/seller and a Binance customer support agent
  • Multiple facial verification checks
  • Only interact with traders who have completed the KYC verification process
Cons
  • The exact order amount and price may not suit your requirements
  • Less liquidity than spot market trades
  • If you verify an incorrect transaction, it may result in lost funds
  • Phishing scams are common – do not interact with anyone outside the Binance platform
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,P2P
Deposit fees None
Withdrawal fees Fees vary
Trading fees 0-0.1%
Advanced Trading Features Yes

2. KuCoin P2P – Best P2P altcoin exchange

KuCoin Cryptocurrency Exchange

743
Supported cryptos
50
Fiat currencies

To start trading P2P on KuCoin, complete your KYC verification and SMS authentication. Once set up, navigate to the P2P tab on the KuCoin app, select your preferred fiat currency and the cryptocurrency you want to buy or sell.

A list of trade advertisements matching your specific inputs will now be visible. You can choose a user or merchant you want to trade with and the amount to buy or sell – take note of any remarks added to the listing.

Complete the transaction and verify payment. Payments are made outside the KuCoin platform and must be completed within a specified time frame.

Once the transaction has been confirmed, KuCoin will lock the funds until the seller confirms they have received the fiat. Once received, the seller will release the crypto, which KuCoin will deposit into the buyer's wallet. KuCoin doesn’t charge any transaction fees for P2P trading.

Also, please note that the numbers of crypto assets and fiat currencies that KuCoin P2P supports are different from the numbers listed at the top of this section, which are the numbers of cryptos and fiat currencies that the KuCoin exchange supports. You can trade 5 different cryptos with 38 different fiat currencies on KuCoin P2P. KuCoin Cryptocurrency Exchange markets interface

Pros
  • Simple to use P2P exchange available on the KuCoin mobile app
  • KuCoin acts as the intermediary to ensure the safe transfer of assets
  • Trusted service. Only interact with KYC-verified KuCoin traders
  • No fees for P2P trading
Cons
  • P2P trading can be more complicated than buying or selling spot assets on a crypto exchange
  • Verifying an incorrect transaction may result in lost funds
  • Phishing risks. Do not interact with P2P traders outside the KuCoin platform
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,PayPal,P2P
Deposit fees None
Withdrawal fees Cryptocurrency: Fees vary
Trading fees Maker: 0.005-0.1%
Taker: 0.005-.08%
Advanced Trading Features Yes

3. Bybit P2P – Best for quick transaction process

Bybit Cryptocurrency Exchange

★★★★★
Finder score
279
Supported cryptos
73
Fiat currencies

Bybit's P2P exchange allows you to convert cryptocurrencies to a range of fiat currencies, including USD, for free. The numbers of cryptos and fiat currencies supported for Bybit P2P are different from those listed at the top of this section, which are the numbers of cryptos and fiat currencies that the Bybit exchange supports. You can buy and sell 4 cryptos with 62 different fiat currencies on Bybit P2P.

Using the Bybit P2P platform, you can post advertisements to buy or sell and trade with other traders quickly and safely.

To begin trading P2P on Bybit, you must sign up for the exchange and complete the Level 1 KYC process, including facial recognition and passport verification.

Click Buy Crypto on the Bybit website and navigate to the P2P tab. You can now choose whether to buy or sell and select your trade requirements. Once filtered, you can select a listing that matches your order specifications and complete the transaction.

Once you've selected an advertisement, you will have 15 minutes to complete the transaction. The seller will release the crypto once they have received payment. If the seller fails to release the coins within 15 minutes, you can submit an appeal to Bybit support and receive a refund. Bybit Cryptocurrency Exchange markets interface

Pros
  • No trading fees for P2P transactions
  • Fast turnaround process. 15-minute limit to approve buys and sells
  • Trade with a wide range of fiat currencies
Cons
  • Less liquidity than spot market exchanges
  • Failure to transact within the allowed time limit will result in a cancelled transaction
  • Phishing scams are common in crypto. Only trade P2P within the Bybit platform
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card,P2P
Deposit fees Fees vary
Withdrawal fees Fees vary
Trading fees Fees vary

4. OKX P2P – P2P exchange that supports the most fiat currencies

OKX Cryptocurrency Exchange

★★★★★
Finder score
338
Supported cryptos
35
Fiat currencies

To start trading P2P on the OKX exchange, you must first have a verified account. Once your account is set up, navigate to the P2P platform, select the fiat currency and the crypto you want to trade and add any filters such as price or amount available.

Please note that the numbers of cryptos and fiat currencies supported by OKX P2P are different than the numbers listed at the top of this section, which are the numbers of cryptos and fiat currencies that the OKX exchange supports. You can trade 5 cryptos with 105 different fiat currencies on OKX P2P.

To complete a buy trade, tap the buy button next to your preferred offer and select the amount you wish to purchase and the payment method.

Review your order details and confirm the transaction. You will have to complete the payment outside the OKX app. OKX will hold the crypto being purchased in escrow until the seller confirms they've received your funds.

To post a listing and sell crypto on OKX P2P, select the payment currency you wish to receive and the crypto you're selling. Once someone purchases your crypto and you have received payment, tap release crypto to complete the transaction. OKX Cryptocurrency Exchange markets interface

Pros
  • No service fee for trading P2P on OKX
  • Simple set-up and KYC process. Get started trading P2P quickly
  • Secure platform. OKX holds crypto purchases in escrow until the seller confirms they’ve received funds
Cons
  • Fewer cryptos available than some competitor P2P exchanges
  • Less liquidity than spot or futures markets
Fees and deposit methods Bank transfer,Cryptocurrency,iDEAL,PayPal,POLi,SEPA,Faster Payments (FPS)
Deposit fees Fees vary
Withdrawal fees Fees vary
Trading fees Maker: 0.005-0.08%
Taker: 0.02-0.1%
Advanced Trading Features Yes

5. Huobi P2P – Best for user experience

Huobi Cryptocurrency Exchange

Huobi Cryptocurrency Exchange

★★★★★
Finder score
606
Supported cryptos
27
Fiat currencies

Getting set up buying and selling peer-to-peer on Huobi is straightforward and can be completed in a few steps. After creating an account and completing the KYC verification process, you can trade with other advertisers.

To convert USD to crypto or vice versa, select your choice of price and payment method and approve the transaction. You will be given a 40-minute window to send funds and confirm they have been received. If both parties have not approved the transaction within this period, it will be cancelled and reversed.

Please note that the numbers of cryptos and fiat currencies available for trading on Huobi P2P are different than those listed at the top of this section, which are the numbers of cryptos and fiat currencies that the Huobi exchange supports. Huobi P2P supports 6 cryptos and 74 fiat currencies.

Huobi acts as the intermediary for P2P trading and charges zero fees or commissions for its services. If you send fiat currency and have not received your crypto, contact the Huobi customer support team.

Huobi P2P supports multiple blockchains, so double-check you're transacting on your preferred network before completing purchases. Huobi Cryptocurrency Exchange markets interface

Pros
  • No fees or commissions for P2P trades
  • Multiple blockchains supported
  • Simple set-up and KYC process
Cons
  • Unconfirmed transactions will time out and cancel after 40 minutes
  • Less liquidity than traditional spot markets
Fees and deposit methods AdvCash,Cryptocurrency,Wire transfer,SWIFT
Deposit fees None
Withdrawal fees None
Trading fees Maker: 0.0097-0.2%
Taker: 0.0193-0.2%
Advanced Trading Features Yes

6. Gate.io – Best P2P exchange for merchants

Gate.io Cryptocurrency Exchange

1607
Supported cryptos
8
Fiat currencies

Gate.io enables KYC-verified users to trade P2P with relative ease.

Once you log into your Gate.io account, scroll over the Buy Crypto tab at the top of the page, and then click on P2P Trading. Please note that the numbers of cryptos and fiat currencies avaiable on Gate.io P2P are different from the numbers listed at the top of this section, which are the numbers of cryptos and fiat currencies that the Gate.io exchange supports. You can trade 4 cryptos with 36 fiat currencies on Gate.io P2P.

Click on P2P next to Express toward the top of the page, and then choose whether you want to buy or sell USDT, BTC, ETH or DOGE before selecting a merchant to buy from.

Gate.io really stands out as a P2P platform in that it makes it easy for you to become a merchant and allows you to take part in an ongoing top merchant competition that offers substantial rewards.

To become a merchant, which lets you sell crypto for fiat, you have to pass a second round of KYC and have at least 100 USDT in your spot account.

Merchant benefits include being able to add a profile picture and a nickname to enhance recognition in Gate.io's P2P marketplace. And if you're a reputable merchant on the site, you'll receive a blue V next to your name, which helps you get more trades.

If you become a merchant that handles a high volume of trades, you can register to become a part of the Global Merchant Trading Competition, through which Gate.io distributes a prize pool of 200,000 USDT to top performing merchants each month. Gate.io Cryptocurrency Exchange markets interface

Pros
  • No service fees for trading P2P on Gate.io
  • Simple KYC process for becoming both a user and a merchant
  • Enables users to become merchants, which offers notable benefits and potential rewards
Cons
  • Only 4 crypto assets available on the P2P exchange
  • Not licensed to operate in the US
  • Phishing scams are common. Do not interact with Gate.io merchants outside of the platform
Fees and deposit methods Bank transfer,Credit card,Cryptocurrency,Debit card
Deposit fees None
Withdrawal fees Fees vary
Trading fees Maker: 0.30%
Taker: Varies
Advanced Trading Features Yes

7. Noones – Best P2P for payment options

NoOnes

NoOnes

4
Supported cryptos
141
Fiat currencies

Noones is a P2P exchange on which you can buy crypto assets via a wide variety of payment methods. Using Noones, you can trade some bitcoin (BTC) for a Walmart gift card, or you can buy some USD coin (USDC) using Apple Pay.

If you want to buy some bitcoin, for example, select “Marketplace” at the bottom of the mobile app screen. Select “Buy” and then enter the location from which you want to be paid in the “Offer Location” field and the “Offer Owner Location” fields. Then tap “Find Offers”.

Next, select the offer that suits you, and enter how much of the local fiat currency you want to spend on your bitcoin before selecting a bank option that the vendor has provided. Next, tap “Buy” and then “Continue” after reviewing the terms.

You’ll then be given a certain amount of time to make your payment. Select “Paid” and once the vendor confirms the payment, the bitcoin you purchased will be released from escrow into your wallet.

The seller will pay a small escrow fee to Noones in the transaction. There is no other fee for buying or selling on the platform.

Pros
  • Noones acts as intermediary to make sure payments are sent and received
  • Supports over 100 fiat currencies
  • Allows for multiple payment methods, including over 100 types of gift cards
  • KYC verification required
Cons
  • Fees for sending small amounts of crypto are high
  • To mitigate phishing risks, do not interact with Noones traders outside of the Noones platform
  • App not available in certain countries
Fees and deposit methods Bank transfer (ACH),Credit card,Cryptocurrency,Debit card,P2P,Gift card
Deposit fees None
Withdrawal fees Fees vary
Trading fees 0-5%

How to choose the best P2P exchange

The best P2P trading platform will vary depending on your the crypto assets you’re looking to trade and the fiat currency you’d like to use. If you’re looking to trade P2P exclusively, an exchange specializing in this area may be worth considering. However, if you’re already set up and familiarized with a traditional spot market exchange such as KuCoin or Binance, this may be your best option.

All P2P trading platforms will require you to have a verified account, which involves a KYC process, including providing photo ID and personal information.

Risks of using P2P exchanges

  • P2P communication. Some P2P platforms allow interaction between traders. If you’re communicating directly with another trader, never share personal information – phishing and other scams are common in crypto.
  • Transaction timeouts. Most P2P exchanges will have a timeout function. If the transaction is not released within a predetermined period, it will fail and be reversed.
  • Incorrectly approved transactions. If you’re selling on a P2P platform, you must release your assets once payment has been received. If you release your funds before receiving payment, they may be irreversibly lost.
  • Price volatility. When buying and selling on a P2P trading platform, it is your responsibility to check prices before completing transactions. If the market has moved and you haven’t adjusted your order, your buy or sell order may be filled at an unfavorable price.
  • Low liquidity. P2P exchanges typically have less liquidity and lower trading volume than traditional spot and futures markets. If you’re looking to fill large orders quickly, you may want to use a traditional exchange instead.
  • Unfamiliar UX. Peer-to-peer exchanges operate very differently from traditional markets. If you’re unfamiliar with the user experience and make a mistake, it may result in lost funds. Be sure to follow any tutorials or detailed guides provided by the exchange.

Methodology

We reviewed data from major P2P exchanges to identify the most important features, which were used to compare platforms against each other. These include the following:

  • User experience. How does the exchange’s functionality compare to other exchanges – is it a user-friendly platform or is it difficult to navigate?
  • Trading fees. Are the exchange fees competitive and in line with industry standards or are they overpriced? Does the platform offer incentivized discounts or fee-free trading?
  • Payment methods. What fiat payment methods are accepted by the exchange? Does it support major currencies like USD?
  • Customer service. Does the platform have overall positive reviews or has there been negative feedback in the past?
  • Security. Has the exchange experienced a hack or is known to have misused customer deposits? What security measures are in place to keep traders’ assets safe?
  • Mobile functionality. Does the exchange support both desktop and mobile functionality?
  • Cryptos available. Does the exchange support an extensive range of cryptos to trade P2P?

Bottom line

Peer-to-peer trading offers a unique way to buy and sell cryptocurrencies. Although it is less common and markets are typically less liquid than traditional spot or futures markets, P2P exchanges are growing in popularity, with most major crypto exchanges now offering a P2P service.

Setting up a P2P trading account is much the same as on any other crypto trading platform or app, and requires completing a KYC verification process and providing personal information.

Take extra care when P2P trading – always look out for phishing scams and make sure to double-check transactions before approving.

FAQs

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Unfortunately these exchanges aren't available in your location

More guides on Finder

Ask an Expert

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Go to site