Looking for the best peer–to–peer (P2P) cryptocurrency exchange? Well, you’ve landed on the right website.
In this article we have listed down our top 6 peer-to-peer cryptocurrency exchanges and what makes them stand out from the crowd.
What is a P2P Exchange?
A peer-to-peer exchange is an exchange of assets between participants with no involvement of any central body.
You might wonder that if no central body is involved won’t that increase the chance of getting scammed?
The answer is NO because P2P platforms are based on an escrow system which protects both the buyer and the seller.
Instead, P2P platforms are regarded as the safest option while exchanging cryptocurrency.
Now that you know how safe and secure these platforms are, let us introduce you to some of the most well-known and secure P2P cryptocurrency exchanges:
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Founded in 2015, this platform has been growing ever since. Paxful is a bitcoin marketplace.
The best part we found about this website is that you can buy and sell bitcoins with more than 300 different payment methods some of them being debit or credit cards, PayPal, Gift Cards.
It also has a huge user base of 4.8 million users worldwide. The user interface is simple and intuitive.
Sellers have to pay 1% on the trade. If you are buying bitcoins from the platform you won’t need to pay any money.
LocalCryptos is a peer-to-peer exchange based in Australia. You can exchange 4 cryptocurrency on this platform which are Bitcoin, Ethereum, Litecoin, and Dash.
When a seller wants to sell his crypto he puts an ad on the website and interested buyer contacts him. Once both agree the exchange takes place through an escrow system.
You can even think LocalCryptos as an eBay or online website, you visit the website, browse through the ads and buy coins from the most attractive deal.
The person making the advertisement needs to pay 0.25% and the person responding to the ad is charged 0.75% on every transaction.
3. Hodl Hodl
Hodl Hodl is another excellent peer-to-peer exchange that allows you to remain totally anonymous. No KYC or AML registration required for trading through this platform.
It is non-custodial which means none of your funds or any information is stored on this company’s server.This platform is good for people who want to remain anonymous during crypto trading.
As compared to most of the P2P exchange Hodl Hodl charges the lowest trading fees. Its maximum trading fee is 0.6% per trade and there is no bitcoin withdrawal fees.
LocalCoinSwap is a peer-to-peer exchange started in the year 2017 and is registered in Hong-Kong.
This is another exchange similar to Hodl Hodl which allows you full anonymous trading, however if you use bank transfer as your payment method you will have to show an ID.
It has a variety of payment methods like PayTM, WeChat Pay, M-Pesa, and a lot more.If you are buying or selling you need not pay a single penny on your transaction.
However, if you are creating an advertisement to buy or sell then you will have to pay 1% of the trade.
One of the most popular options for buying or selling cryptocurrencies has to be CEX.io. This platform offers brokerage service and it is a trading platform as well.
CEX allows you to cryptocurrency instantly using a SEPA transfer, wire transfer or an ACH transfer if you love in the United States.
Also as they are registered with FINCEN you have to go through KYC and AML verification. So this is not a good choice for people who like anonymity during their transactions.
This platform’s trading services are recommended for beginners which means CEX will trade the cryptocurrencies on your behalf by charging you a premium.
However this platform also has a dedicated space for advanced traders i.e. the CEX.io’s trading platform.
Your transaction fees depends upon your 30-day volume for all pairs. The fees starts from 0.25% for the taker and 0.16% for the maker.
Though this is placed at the end of our list but the service LocalBitcoin provides is top-class. Registered in Finland, it is peer – to – peer cryptocurrency exchange that allows users to exchange local currency for bitcoins.
LocalBitcoin has a wide area of operation and has not restricted its services in any jurisdiction.
However if you come belong to a place where trading or exchanging cryptocurrency is illegal we recommend you use this platform only after getting legal advice from an expert.
This website offers full anonymity during transactions which means you don’t have to go through lengthy KYC or AML registration, just visit the website and start exchanging your crypto.
Buying, selling and registering on LocalBitcoin is completely free. But LocalBitcoin users who create an ad have to pay 1% on every completed trade.
And that’s it. With this we end our list of the best peer-to-peer exchanges. We hope you must’ve gained some insights regarding crypto currency exchanges.
All the exchanges listed above are verified and trusted as they have been providing services for a long period of time and have satisfied many users.
In case you’re a person that does not want to compromise your privacy during a crypto transaction we recommend you always use a P2P exchange as it guarantees total anonymity and is fully secure.
We also recommend you to stay far away from KYC and refrain from giving any sensitive personal information to third parties or any exchange.
Please do a thorough research on the topic, read as many as articles you could and try connecting to people who have actually used these exchanges to know the real deal.