Home 9 Best P2P Crypto Exchanges in 2024

9 Best P2P Crypto Exchanges in 2024

Peer-to-peer (P2P) trading offers an alternative way to purchase crypto.

Buyers connect directly with sellers, meaning intermediaries and order books aren’t required. This also means buyers can transact with local payment methods, while sellers can set their own prices.

Read on to discover the best P2P crypto exchanges, learn how they work, and get started with your first trade in under five minutes. We also discuss the risks of P2P trading, and what best practices can be implemented to avoid them.

The Top P2P Crypto Exchanges

  1. Best Wallet — The Overall Best Exchange for Decentralized Trading
  2. OKX — Popular P2P Crypto Exchange With Zero Fees and 900+ Payment Methods
  3. MEXC — Fee-Free P2P Trading for Users in Vietnam, South Korea, and Russia
  4. Binance — Buy 8 Crypto Coins With 100+ Fiat Currencies in Under 15 Minutes
  5. Bybit — Invest in Crypto With PayPal and Neteller at 0% Commission
  6. BingX — Purchase Tether via Bank Transfers and Wise at Competitive Rates
  7. KuCoin — A Great Option for Liquidity With Over 30 Million Active Users
  8. CoinEX — Deposit Funds via P2P and Access Over 1,500 Trading Markets
  9. Gate.io — One of the Only P2P Exchanges to Support Dogecoin

Reviewing the Best Peer-to-Peer Exchanges

Some of the factors to consider when choosing a P2P exchange include escrow safety, supported coins, accepted payment methods, and average prices. We’ll now review the best P2P Bitcoin exchanges for 2024.

1. Best Wallet – The Overall Best P2P Crypto Exchange for Decentralized Trading

Best Wallet is, in our opinion, the best option overall. Technically, Best Wallet is synonymous with a decentralized exchange rather than a P2P platform. This is because it uses liquidity pools rather than P2P mechanisms. Buyers don’t need to purchase crypto directly from a seller as Best Wallet leverages smart contracts to execute orders.

For instance, let’s say you want to swap USDT for BNB. This would require the USDT/BNB liquidity pool – which contains equal amounts of both coins. After typing in your preferences and connecting a wallet, USDT will be swapped for BNB via a smart contract. This means the BNB coins are almost instantly added to the wallet.

Best Wallet no KYC exchange

Exchange rates are determined by real-time factors, such as market depth and volume. Nonetheless, Best Wallet sources the best market prices, as it’s partnered with dozens of liquidity providers. In addition, Best Wallet offers one of the best decentralized crypto wallets. It comes as a mobile app for iOS and Android.

Supported Coins All tokens from the Ethereum, BNB Chain, and Polygon networks
No. Payment Methods Crypto (also has a fiat on-ramp for debit/credit cards)
P2P Fees No additional markups from liquidity providers
Escrow? No, uses smart contracts – which are safer
Top Features Decentralized exchange without escrow risks / Instant wallet delivery via smart contracts / No account registration is required


  • Buy thousands of cryptos without requiring a seller
  • Liquidity pools are executed by smart contracts
  • No requirement for escrow
  • Get started without opening an account or completing KYC
  • Supported networks include Ethereum, BNB Chain, and Polygon
  • Also offers a self-custody wallet with top security features


  • Doesn’t support Bitcoin (coming soon)
  • Isn’t a conventional P2P exchange

2. OKX – Popular P2P Crypto Exchange With Zero Fees and 900+ Payment Methods 

OKX is one of the best P2P crypto exchanges on the market. It supports most global currencies and is compatible with over 900 local payment methods, including local bank transfers and Revolut, Wise, Perfect Money, and Payeer.

Four crypto coins are supported — Bitcoin, Ethereum, Tether, and USD Coin. Buyers simply need to choose their preferred coin, currency, payment type, and amount. OKX then sorts available P2P sellers based on the ask price. Do note that KYC isn’t required up to the first $5,000. After that, KYC procedures are mandatory.

Know Your Customer, or KYC for short, is a regulatory process where cryptocurrency exchanges and other financial institutions verify the identity of their users to prevent fraud, money laundering, and other illicit activities. In order to perform KYC, you will most likely need to provide a proof of identity, such as an drivers license, passport, or ID card.

OKX P2P review

After sending payment, the seller’s coins are locked in the OKX escrow. Once the seller confirms they’ve received the funds, they’re released to your OKX wallet. Crucially, although sellers set their own rates, OKX doesn’t charge any additional fees. OKX also offers a traditional crypto exchange that supports hundreds of other coins.

Supported Coins Bitcoin, Ethereum, Tether, and USD Coin
No. Payment Methods 900+
P2P Fees None
Escrow? Yes
Top Features Supports a huge selection of convenient payment methods / No additional commissions are charged / User-friendly dashboard is ideal for beginners


  • Top-rated P2P exchange available in most countries
  • 100+ currencies and 900+ payment types
  • Supported coins are Bitcoin, Ethereum, Tether, and USD Coin
  • No KYC is needed up to the first $5,000


  • Buying from a non-verified seller can be risky
  • Some exchange rates are unfavorable

3. MEXC – Fee-Free P2P Trading for Users in Vietnam, South Korea, and Russia

Next on this list of P2P crypto exchanges is MEXC. It offers P2P services to just three countries — Vietnam, South Korea, and Russia. If you’re based in one of these nations, you can buy four different cryptos without paying any P2P fees — namely, Bitcoin, Ethereum, Tether, and USD Coin. 

Supported payment methods depend on where you live. Those in Vietnam can use a local bank transfer, MoMo, Zalo Pay, and ShopeePay. South Korean residents are limited to bank transfers and KaKAOPAY. Russians can use Payeer or domestic bank wires.  After choosing the preferred payment method, sellers are listed by the exchange rate. 

MEXC P2P review

Each seller has a minimum and maximum purchase amount. MEXC shows the number of previous trades conducted by sellers. Plus, their rating from other buyers. This ensures you’re buying from a legitimate seller. Even so, P2P trades go through the MEXC escrow service.

Supported Coins Bitcoin, Ethereum, Tether, and USD Coin
No. Payment Methods 30+
P2P Fees None
Escrow? Yes
Top Features No fees charged to buyers / Secure escrow system / Some sellers offer rates below the spot price


  • The best P2P Bitcoin exchange for residents of Vietnam, South Korea, and Russia
  • No commissions are charged to P2P buyers
  • Solid escrow system to protect both parties
  • Trades often take minutes to complete


  • Just three currencies are supported
  • KYC is required for buyers and sellers

4. Binance – Buy 8 Crypto Coins With 100+ Fiat Currencies in Under 15 Minutes

Binance, the world’s most popular exchange with over 200 million users, also offers P2P trading. This is a good option for Binance traders who aren’t able to deposit fiat currency directly. For instance, while Binance doesn’t accept GBP payments, UK users can use the P2P platform without restrictions.

Binance supports 8 crypto coins — BTC, ETH, USDT, DAI, TUSD, USDC, FDUSD, and BNB. Best of all, more than 800 payment methods and over 100 currencies are accepted. Popular payment types include local bank transfers, Skrill, Wise, and Western Union.

Binance P2P review

Although Binance lists P2P sellers by the best exchange rate – it doesn’t offer a comparison against spot prices. This means buyers must check exchange rates manually before proceeding. Nonetheless, most P2P trades on Binance are completed within 15 minutes. P2P buyers pay a trading commission, although this is just 0.1% of the purchase amount. 

Supported Coins Bitcoin, Ethereum, Tether, DAI, TrueUSD, USD Coin, First Digital USD, and BNB
No. Payment Methods 800+
P2P Fees 0.1%
Escrow? Yes
Top Features Backed by the world’s largest exchange / 800+ accepted payment methods / Most P2P trades take under 15 minutes


  • Buy 8 coins directly from P2P sellers
  • Choose from 800+ payment types
  • 100+ local currencies are supported
  • Suitable for small and large purchases alike


  • Adds a small commission to P2P orders
  • KYC completion is mandatory

5. Bybit – Best P2P Option to Invest in Crypto With E-Wallets at 0% Commission

Bybit is a popular crypto exchange that supports spot trading, perpetual futures, leveraged tokens, and options trading. Its P2P platform is one of the best ways to deposit funds. More than 60 currencies are supported, including USD, EUR, and GBP. Hundreds of convenient payment methods are accepted, including the most popular e-wallets.

This includes PayPal, Skrill, Neteller, and more. Bybit is also a great option for U.S. traders wanting to use Cash App or Venmo. That said, only four crypto coins are available on the P2P platform — BTC, ETH, USDC, and USDT. Nonetheless, like most P2P crypto exchanges, buyers simply need to choose the coin, payment type, and purchase amount.

Bybit P2P review

The most competitively priced sellers are then listed. It’s best to focus on sellers who have completed hundreds of orders with a 100% positive rating. Bybit uses a secure escrow system and no fees are charged to P2P buyers. Once the purchase is made, you’ll then have access to one of the largest crypto exchanges around.

Supported Coins Bitcoin, Ethereum, USD Coin, and Tether
No. Payment Methods 300+
P2P Fees None
Escrow? Yes
Top Features Buy crypto with 300+ payment types / Some sellers have a 100% rating over hundreds of orders / Crypto exchange rates are often below the spot price


  • Trusted P2P exchange supporting over 60 fiat currencies
  • A great option for using e-wallets like PayPal and Neteller
  • Also supports Cash App and Venmo
  • No P2P fees are charged to buyers


  • Unlike the main Bybit exchange – KYC is compulsory
  • Doesn’t list Solana or BNB

6. BingX – Purchase Tether via Bank Transfers and Wise at Competitive Rates

Next on this list of P2P crypto exchanges is BingX, a popular trading platform with robust security and competitive fees. Its P2P dashboard supports just one crypto asset: Tether. Nonetheless, dozens of fiat currencies are supported, as are the most convenient payment types.

In addition to bank transfers and Wise, it’s also possible to buy Tether with Google Pay, SEPA, Revolut, and Cash App. What’s more, exchange rates are often competitive. For instance, the top USDT/USD rate is currently $1.027 — just slightly above the spot price.

BingX review

We also like that BingX doesn’t charge commissions when using the P2P dashboard. However, do note that KYC at BingX must be completed before completing a P2P trade. This ensures that buyers and sellers can transact without potential scams.

Supported Coins Tether
No. Payment Methods 300+
P2P Fees None
Escrow? Yes
Top Features Buy Tether below market prices / A great option when using local bank transfers or Wise / P2P trades are commission-free


  • No P2P commissions when buying and selling
  • 300+ payment types are supported
  • Some listings are sold below the spot price
  • Doubles up as a spot trading and crypto derivatives platform


  • Only supports Tether
  • Some sellers have low purchase limits

7. KuCoin – A Great Option for Liquidity With Over 30 Million Active Users   

KuCoin is a tier-one crypto exchange with over 30 million users. It attracts premium liquidity, which is ideal for P2P traders. This ensures competitive market prices and sufficient volumes around the clock. Its P2P dashboard supports five crypto coins — Bitcoin, Ethereum, USD Coin, Tether, and KuCoin Token.

More than 30 fiat currencies are accepted. This includes major currencies like USD, AUD, and EUR. Plus, plenty of emerging currencies like THB and VND. KuCoin accepts over 100 payment methods. The fastest option is to perform a local bank transfer — P2P trades should be completed in under five minutes.

KuCoin P2P review

Google Pay, Wise, Neteller, Cash App, and Revolut are also supported. P2P minimums often start from just $10, which is ideal for beginners. The KuCoin P2P platform doesn’t charge fees to buyers or sellers. All trades go through a secure escrow network.

Supported Coins Bitcoin, Ethereum, USD Coin, Tether, and KuCoin Token
No. Payment Methods 100+
P2P Fees None
Escrow? Yes
Top Features Buy 5 different coins with over 30 local currencies / Buyers and sellers can transact fee-free / P2P trades via local bank transfers take minutes


  • One of the best P2P crypto exchanges for liquidity
  • Used by more than 30 million traders
  • No trading fees are charged to P2P traders
  • Supports 30+ currencies and 100+ payment methods


  • P2P access is restricted until KYC is completed
  • Doesn’t accept PayPal

8. CoinEX – Deposit Funds via P2P and Access Over 1,500 Trading Markets   

CoinEx is a top-rated exchange with over five million users. It’s a great option if you’re looking to build a diversified portfolio of cryptocurrencies. After all, CoinEx lists over 1,000 coins and 1,500 trading markets. This includes some of the best meme coins, such as Shiba Inu, Pepe, and MAGA.

To fund a CoinEx account, head over to the P2P dashboard and buy Tether. While other P2P options aren’t supported, Tether is paired with most CoinEx markets — so it’s the best crypto to hold in your account. Supported payment methods depend on the currency and country.

CoinEX review

For example, those in Vietnam can use ZaloPay, VNPAY, VNPT Money, and local bank transfers. On the other hand, users who come from India can choose from IMPS, Digital eRupee, Paytm, Mobilkik, and Google Pay. Just select the currency and see what methods are supported. No P2P trading fees are charged by CoinEx — no matter the volume.

Supported Coins Tether
No. Payment Methods Not stated — depends on the currency and country
P2P Fees None
Escrow? Yes
Top Features Main exchange supports over 1,500 trading pairs / No P2P commissions / Small purchases are welcome


  • Trusted exchange offering 0% P2P traders
  • Supports a wide range of local payment methods
  • Large purchase limits are offered by some sellers
  • Its main exchange supports over 1,500 trading pairs


  • Tether is the only support coin
  • All P2P traders need to upload a government-issued ID  

9. Gate.io – One of the Only P2P Exchanges to Support Dogecoin       

Last on this list of P2P crypto exchanges is Gate.io. Launched in 2013 and used by over 16 million traders, Gate.io offers a great user experience. Its primary exchange lists more than 2,100 coins, including some of the best cryptocurrencies to buy. It also offers some of the highest earning yields — top APYs are currently at 499%.

In terms of P2P trading, Gate.io lists 4 coins — Bitcoin, Ethereum, Tether, and Dogecoin. We like that Gate.io offers real-time spot prices next to each coin. This enables buyers to easily assess whether they’re getting a good deal. It’s also seamless to filter the most trusted sellers, such as those with a Blue VIP tick.

Gate.io P2P exchange

These are sellers that are certified and vetted. Over 100 payment methods are supported, including e-wallets like Neteller and Skrill. Local bank transfers are available, plus WeChat, Western Union, and Alipay. Gate.io doesn’t charge P2P buyers any fees. However, sellers can pay up to 0.2%, depending on the volume.

Supported Coins Bitcoin, Ethereum, Tether, and Dogecoin
No. Payment Methods Not stated — depends on the currency and country
P2P Fees No fees for buyers but sellers can pay up to 0.2%
Escrow? Yes
Top Features An established exchange that launched in 2013 / No P2P fees for buyers / One of the few P2P platforms to support Dogecoin


  • 5 P2P coins are supported – including Dogecoin
  • Supports e-wallets, local bank transfers, mobile payments, and more
  • P2P trades are protected by the Gate.io escrow service
  • A great option for earning APYs of up to 499%


  • Sellers pay commissions of up to 0.2%
  • KYC documents must be approved before trading  

How We Ranked These P2P Exchanges

We ranked peer-to-peer exchanges by focusing on the most important factors for traders.

Here’s an overview of our research methods:

  • Supported Coins: We initially assessed which coins each peer-to-peer exchange supports. At a minimum, this should include Tether — which offers access to the broader crypto markets. We also prioritized exchanges supporting Ethereum and Bitcoin.
  • Currencies: P2P exchanges should offer global accessibility, meaning support for plenty of local currencies. This includes not just major currencies like EUR and USD but also those from emerging countries. OKX, for example, supports over 100 currencies.
  • Payment Methods: Traders should choose a peer-to-peer crypto exchange that accepts a wide selection of payment methods. This often includes local bank transfers, which is considered the fastest option. E-wallets like PayPal, Neteller, and Google Play are commonly supported too. Not to mention mobile payments and Western Union.
  • KYC: Most P2P crypto exchanges have a mandatory KYC process. This ensures that buyers and sellers can transact safely. That said, we also included exchanges that offer anonymous accounts. For instance, OKX doesn’t implement KYC requirements up to the first $5,000.
  • Escrow: We only considered a peer-to-peer Bitcoin exchange if it offered a secure escrow system. This ensures sellers must deposit their coins into a locked account before the buyer transfers the funds. The escrow only releases the coins once the seller confirms they’ve received the payment.
  • Liquidity: Another important factor is liquidity. This ensures sufficient crypto is available for buyers at all times. Otherwise, buyers will be forced to use another platform.
  • Rating System: P2P trading isn’t risk-free – even with an escrow system. As such, the platform should enable buyers to rate and review sellers. This allows other buyers to view the seller’s reputation before entering a trade.

What Is a P2P Crypto Exchange?

Peer-to-peer, or P2P crypto exchanges offer an alternative way to buy and sell coins. Put simply, buyers trade directly with sellers, meaning third parties like market makers aren’t required. Nor is there a need for traditional order books. Instead, buyers pay sellers with a local currency, who then transfer the respective coins.

Buyers and sellers are usually based in the same country. This means an extensive range of payment methods can be used, including anything from local bank transfers and mobile payments to Skrill, PayPal, and Wise. Unlike conventional exchanges, sellers set their own exchange rate. This can be above or below the spot trading price.

Buyers will often choose sellers with the most competitive rates, although minimums, limits, and payment types are also factored in. Either way, P2P platforms use escrow systems to keep traders safe. This ensures the seller actually owns the coins. And that buyers complete the payment. Only then is the trade finalized.

How Do Peer-to-Peer Bitcoin Exchanges Work?

We’ll now explain the step-by-step process when using a P2P Bitcoin exchange.

Setting the P2P Requirements

First, the buyer must set their P2P requirements.

This requires the following information:

  • Crypto coin (e.g. Tether)
  • Fiat currency (e.g. USD)
  • Payment method (e.g. Local bank transfer)
  • Purchase amount (e.g. $500)

The P2P exchange will then list available sellers who meet these requirements. Sellers are usually sorted by the exchange rate — from the most competitive downward.

Entering a P2P Deal and Waiting for Escrow Confirmation

The buyer can choose any P2P seller by accepting their terms. The seller will then send a message, often asking if the buyer wants to proceed. If so, the seller will need to transfer the coins to the escrow wallet.

Important: Never complete the payment until the exchange confirms the escrow transfer is complete. This means the exchange will hold the coins until the payment is finalized. Otherwise, if you send the funds before the escrow process, the seller might never send the coins.

How do Peer-to-Peer Bitcoin Exchanges Work?

The escrow transfer time depends on the coin. Expect to wait 1-2 minutes if you’re buying Ethereum or Tether. And about 10 minutes when buying Bitcoin.

Fund Transfer and Payment Confirmation

Once the escrow transfer is confirmed – you can complete the payment. The process will depend on the payment method. For example, if you’re making a local bank transfer – just provide the seller’s account details.

Importantly, make sure you include the reference number. This will be provided by the seller at the initial stage. Upon making the transfer – mark the payment as complete on the P2P platform.  A notification will then be sent to the seller.

Escrow Release and Trade Finalization

The final step is for the seller to release the coins from the escrow. This will be done once they can see the payment has been received.

Within seconds, the coins will be added to your P2P exchange account, meaning the trade is finalized. You can then use the coins to trade at the respective exchange. Or withdraw them to a private wallet.

Consider leaving the seller a rating and review – this helps other buyers and keeps the P2P exchange safe.

What is the Best P2P Crypto Lending Site?

  • The peer-to-peer concept also extends to crypto lending.
  • This means users with idle coins can lend them to borrowers.
  • In turn, borrowers pay interest on the coins.
  • Some of the most popular P2P crypto lending sites are OKX, YouHodler, Bybit, and Binance.

Benefits of P2P Exchanges vs Regular Exchanges

Most crypto investors buy and sell coins on regular exchanges. This section examines some of the benefits offered by P2P exchanges over the regular ones.

Buy Crypto With a Local Currency and Payment Method

The main benefit of using a P2P exchange is that you can use a local currency and payment method. For example, consider a trader based in Thailand. Using a debit/credit card at a regular exchange can be costly. This is because the exchange will likely not support THB – so currency exchange fees will apply.

Instead, that trader can use a P2P exchange and transfer funds via a local bank transfer. The transfer will be processed almost instantly without additional fees. In addition to bank transfers, P2P exchanges often accept mobile payments, e-wallets, and other convenient methods.

P2P Exchange Rates Can Be Lower

Everyone pays the same price when using a regular exchange. Put otherwise, crypto is purchased based on the spot price — which is determined by demand and supply.

In contrast, P2P sellers can set their own prices. These are often below the spot price, meaning buyers get a better deal. The seller might need access to fast cash, so they’re happy to take a lower price.

Global Accessibility

Investors in some countries might find it difficult to enter the crypto market for the first time. This might be because they’re based in a country that bans crypto. Or a country that is commonly prohibited by regular exchanges.

P2P exchanges are a great solution 3 as buyers trade directly with sellers. A simple example is Binance – which no longer allows UK residents to deposit funds with fiat money.

Binance P2P exchange

Instead, UK residents can purchase coins via the Binance P2P exchange. And then use those coins to trade on the main Binance platform.

The Potential to Buy Crypto Anonymously

Most P2P crypto exchanges have implemented KYC processes. This means buyers and sellers must verify their identity before they can trade. However, some platforms still offer KYC-free access — usually up to a certain limit.

For example, OKX enables P2P buyers to purchase up to $5,000 worth of crypto without completing KYC. This is a great way for beginners to enter the market without uploading an ID.

A Great Way to Cash Out Crypto to Fiat Currency

Peer-to-peer exchanges are also a solid option for cashing out crypto for fiat money. After all, while regular exchanges often have a fiat on-ramp — many don’t allow cash withdrawals. This can leave investors with unwanted crypto coins.

Conversely, peer-to-peer platforms not only support fiat sales but in the seller’s preferred currency and payment method. For example, a trader in Germany can accept EUR via a local bank transfer. Similarly, a trader in India can accept INR via Paytm.

P2P Exchanges vs OTC Exchanges

P2P and OTC (Over-the-Counter) exchanges both offer alternative ways to trade crypto. Albeit, in different ways:

  • P2P Exchanges: Facilitates crypto trades directly between buyers and sellers. Those selling crypto set their own prices and accepted payment methods. Buyers can choose to deal with their preferred seller based on these metrics. P2P trades go through an escrow system, which protects both parties.
  • OTC Exchanges: Facilitates large crypto orders — often at least $100,000 or more. OTC exchanges are used by institutional clients, such as hedge funds. The OTC provider will ensure that sufficient liquidity is sourced to meet the order value. OTC buyers often get below-market rates, as they’re purchasing larger amounts.

Is P2P Crypto Trading Safe?

In general, peer-to-peer cryptocurrency exchanges offer a safe experience. This is for two key reasons.

  • KYC: As mentioned, most P2P exchanges now require buyers and sellers to complete the KYC process. While KYC can be frustrating for some, it keeps the P2P landscape safe. After all, it’s important to buy from accountable sellers. Otherwise, if things don’t go to plan, you won’t know who you completed the trade with.
  • Escrow: Most importantly, leading peer-to-peer crypto exchanges use an escrow system. So, as a buyer, you won’t need to make a payment until the seller transfers the coins to the escrow. At this stage, they’re locked by the exchange. From the seller’s perspective, the coins aren’t released to the buyer until the payment is received.

However, P2P exchanges aren’t completely risk-free — especially for sellers.

A common scam involves buyers sending fraudulent proof of payment. This is intended to trick the seller into thinking the payment was made, hoping they’ll release the coins from escrow. This is why sellers must check the payment manually rather than relying on a receipt or slip.

Issues can also arise if the seller claims they haven’t received the payment. This will trigger a dispute resolution process, which can drag on for several days or weeks. In the meantime, the buyer is left without the crypto they paid for.

How to Start P2P Crypto Trading

Let’s summarize the P2P crypto trading process for first-time traders:

  • Step 1: Choose a P2P Exchange and Open an Account — First, spend some time choosing the best peer-to-peer cryptocurrency exchange for you. Consider fees, supported coins, payment methods, currencies, and escrow security. Then, visit the P2P exchange and open an account.
  • Step 2: Complete the KYC Process — You’ll likely need to complete the KYC process before you can begin trading. This will require some basic personal information and some ID — such as a passport or driver’s license. Most exchanges automate the KYC process – so you should be done in under five minutes.
  • Step 3: Set Your P2P Requirements — Next, you’ll need to set your P2P requirements, such as the purchase coin, amount, payment method, and currency.
  • Step 4: Choose a P2P Seller — The exchange will list the available P2P sellers, as per your requirements. While competitive exchange rates are also important, opt for a seller with a solid score from other buyers.
  • Step 5: Send Payment After Escrow Confirmation — Now you’ve chosen a seller, wait for confirmation that the coins have been transferred to the escrow. You can then make the payment.
  • Step 6: Notify Seller and Wait for the Coins — Finally, let the seller know you’ve completed the payment, and wait for them to release the coins from the escrow. The coins should appear in your P2P wallet within minutes.


Peer-to-peer exchanges are a great alternative when buying crypto. Not only can you use your local currency but also a preferred payment method — such as a bank transfer, Google Pay, or Wise.

Fees are often more competitive too — especially if the seller requires a fast deal. However, make sure you’re using a P2P exchange with a secure escrow service. This will ensure the P2P trade is completed safely.


What is P2P in crypto?

Which exchanges are P2P?

What is the best P2P crypto exchange?

Are P2P exchanges better?

Is Binance a P2P exchange?

Is Coinbase P2P?


  1. Peer-to-peer definition (NordVPN)
  2. Crypto exchange Binance to stop accepting new users in UK (Reuters)
  3. The new FATF rules for crypto exchanges and custodians (PwC)
  4. Over-the-Counter (OTC) (Corporate Finance Institute)

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Kane Pepi
Crypto Expert

Kane Pepi is a financial and cryptocurrency writer who has written over 2,000 articles, tutorials, and market analyses. Kane's expertise in specialized domains such as asset appraisal and analysis, portfolio management, and financial crime prevention has earned him a reputation for providing succinct explanations of difficult financial subjects. He holds a Bachelor of Science in Finance, a Master of Science in Financial Crime, and is currently working on his Doctorate degree, which will focus on the challenges of money laundering in the cryptocurrency and blockchain technology industries. Kane's wealth of industry experience make him a valuable resource for traders and…

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