7 Best P2P Exchange Platforms for 2024

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P2P ExchangeKey Features
1. Bybit✓ High no. of sellers
✓ 400+ payment methods
✓ No fees on buying and selling
✓ Supports more than 40 fiat currencies
2. Noones✓ Intuitive interface
✓ Buying is easy & streamlined
✓ 250+ payment methods
✓ Available globally
3. Binance P2P✓ Simple & easy to use interface
✓ Zero Fees & Fast transactions
✓ 150+ payment methods
✓ Post trade advertisements
✓ Cash-in-Person Transactions
4. LocalCoinSwap✓ No KYC – stay anonymous
✓ Large no. of sellers
✓ 300+ payment methods
✓ Buying and selling are free
✓ 1% fee if you create an offer
5. Wazirx✓ Easy-to-use interface
✓ Auto-matching P2P engine
✓ Zero transaction fee
✓ Safe with verified traders
✓ For Indian users
6. HODL HODL✓ Low fee – 0.3% trading fees
✓ No KYC – stay anonymous
✓ 100+ different payment methods
✓ Lock the user’s funds in multisig escrow
✓ Available globally
7. Remitano✓ Intuitive user interface
✓ Plenty of buyers and sellers
✘ 1% fee of the complete trade
✓ Highly secured
✓ Good customer support

So, you’re looking for a P2P cryptocurrency exchange. Wonderful news! In this article, I’ll recommend to you the top 7 P2P exchanges based on my research.

“Why should I use peer-to-peer exchange instead of a centralized exchange like Binance or Coinbase?”

you asked.

Good question! Two big reasons:

security and privacy.

Depending on the exchange, there is no Know Your Customer (KYC) or Anti-Money Laundry (AML) policy. If you think buying cryptocurrency is your private business, then P2P is an excellent choice for you.

You have heard of exchanges getting hacked and hackers running off with millions of dollars (like how Bitfinex got hacked for 119,756 BTC …) When you buy off a P2P exchange, you keep the cryptocurrency in your private wallet.

Read: Biggest Bitcoin hacks ever

51 Crypto exchanges hacks – History that would blow your mind

Peer 2 Peer Exchange, Explained

What is the biggest difference between a P2P exchange and a centralized exchange?

The difference: you don’t buy crypto directly off an order book, instead you buy directly from a person who has a set price. This means you can shop for the best price.

In most cases, you won’t pay a fee when you buy/sell on the platform.

“What about safety? Won’t I get scammed?”

When you trade on a P2P exchange, the platform acts as an escrow to ensure the safety of both parties.

So what happens when you buy bitcoin on a P2P exchange?

In this example, you want to buy bitcoin. You send the money and the exchange holds the seller’s bitcoin in an escrow. The seller then confirms that you had sent the money, and then the exchange releases the bitcoin. If the person doesn’t send you the bitcoin, you can always dispute.

I recommend that you always trade with someone who has a top feedback score and has done many transactions. When it comes to trading on a P2P platform, reputation is everything.

Or you can always meet the person in a coffee shop to trade.

“Wow, that’s informative! Can you recommend some P2P exchanges?!”

I’m glad you asked!

I have researched and used 7 P2P exchanges, which I consider to be the best in 2024. I have included fees, user experience, and ease of trade as part of the evaluation.

Sounds good? Let’s dig straight into it …

1. Noones (Global)

Noones aim to be world-leading peer to peer Bitcoin marketplace. After the Paxful shutdown, Noones was recommended by the Paul platform, and it seems like doing all the right thing to become a leader in the P2P segment.

Noones supports over 250+ payment options including cash payment options.

I like Noone’s user interface because it’s intuitive to use.

On Noones, you can buy bitcoin using bank transfer, CashU, PayPal, Western Union, and various gift cards. Since it’s P2P, you can shop around for the best rate.

Buying on Noones is easy and streamlined. You send the funds and then you wait for the seller to send you the crypto.

What is the fee for Noones?

If you’re looking to buy cryptocurrency, you won’t pay any fees.

If you do business with someone on Noones, make sure the person has many satisfied feedbacks and he/she is ID-verified.

2. Binance P2P

Binance, the most well-known brand in the crypto space, knows the importance of P2P. That’s why they have started their peer-to-peer exchange.

Binance’s P2P interface is simple and nice to use. There is a nice selection of coins for you to buy or sell: USDT/BTC/BUSD/BNB/ETH/EOS. Moreover, you can get complete the trade using Wechat, Alipay, Bank transfer, or QIWI.

It doesn’t matter if you’re living in Thailand, Australia, or Brazil because Binance P2P can serve you. The exchange supports over 31 real-world currencies.

What is the drawback?

The pool of buyers and sellers in the market is limited. But that’s okay, I think it will grow bigger in the future.

Check out the Binance P2P tutorial to learn more about it.

3. LocalCoinSwap – Peer-to-Peer Exchange:

LocalCoinSwap is registered in Hong Kong and has been in business since 2017.

What’s LocalCoinSwap main selling point?

It doesn’t require KYC (know your customer). In theory, you can remain completely anonymous when using this exchange. However, some sellers require you to show ID if you’re doing a bank transfer.

I like how LocalCoinSwap offers dozens of payment methods like PayTM, M-Pesa, Wechat pay, Alipay, QIWI, IMPs etc.

I also like the large pool of sellers. You can find offers that is 2.5% above market rate (which is reasonable when you’re buying)

What is the fee structure? If you’re buying or selling, it’s free. However, if you’re creating an offer to buy or sell, it’s a 1% fee of completed trade.

(Why do you want to create an offer? Perhaps because you want to sell 5% above market rate and make a profit etc)

4. Wazirx (India)

Founded in 2017, Wazirx advertises itself as “the most trusted Indian crypto exchange.”

Wazirx’s interface is nice to use. It’s a nice feeling when you’re trading cryptocurrency on your smartphone.

Where Wazirx shines: it’s the world’s first “auto-matching P2P engine”. So instead of selecting the seller, the platform will automatically do it for you. Supposedly this gives you the best exchange rate.

What is the fee when you’re Wazirx’s P2P?

$0.

The best thing in life is free, right?

Read: WazirX review

I feel safe using Wazirx because it has been acquired by Binance.

5. HODL HODL

HODL HODL P2P

HODL HODL is a peer-to-peer exchange that does not perform KYC checks. Think of HODL HODL as a crypto trading platform for non-custodial trade.

Some of the key features of this platform are:

  • 0.3% trading fees
  • Global P2P trades
  • No KYC
  • Non Custodial P2P exchange
  • Telegram notifications for trades

This P2P exchange is idle for those users who want to remain anonymous with their crypto dealings, and are not comfortable with KYC.

6. Remitano

Remitano P2P

Remitano is based in Singapore and they have been in business since 2015. Whenever you’re using a cryptocurrency service, you want the business to be old and established, which lessens the chance of them closing the shop overnight.

Anyways, I like Remitano because I have been using them since 2018.

The interface is intuitive to use, and the selection of sellers/buyers is plenty.

What are the downsides? The fees are high. Remitano will take a total of 1% of the completed trade (compare to other exchanges that take 0.25% or free) Also, they have a fee when you deposit or withdraw crypto.

So why do I keep coming back to Remitano? Because the security is top-notch and the customer service is good. I feel very safe when I trade on Remitano.

So, are you ready to start your P2P adventure?

I have equipped you with the knowledge you need to start trading on P2P platforms. I have given an explanation and the best practices to make the trades go smoothly.

Is this your first time trading on a P2P exchange? No problem. Try trading for a small amount to get a “feel” for the exchange. Then you can trade large amounts. Who knows, perhaps one day you’ll become a professional bitcoin “merchant” on these exchanges?

To recap on why I like P2P: privacy, security, and small fees. To me, P2P embodies the cryptocurrency, peer 2 peer spirit. That’s why I still use P2P exchange to this very day.

So, which one is the best for you? It boils down to your preference and ultimately, what’s the most convenient for you. Binance P2P or Noones should be your first choice as they both are the pioneer of crypto p2p exchanges.

If you’re looking to trade on a decentralized exchange, check out our other article: Best Decentralized exchanges. Trading on a decentralized exchange is safer because you hold your own wallet.

Thanks for reading. If you have any questions, leave a comment below.

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