6 Best P2P Crypto Exchanges in 2023

P2P crypto exchanges empower users to trade digital assets directly with one another, fostering decentralization and security. However, with numerous options available to crypto traders, it can be hard to decide which platform is best for you.

In this article, we’ll introduce you to the top six P2P crypto exchanges for 2023, providing you with the essential tools to navigate the cryptocurrency landscape.

Here are the best P2P crypto exchanges in 2023:

1. Binance P2P – The best P2P crypto exchange overall
2. KuCoin P2P – The emerging P2P contender
3. Bybit P2P – Derivatives enthusiast’s haven
4. Huobi P2P – A global P2P platform
5. OKX P2P – A streamlined P2P experience
6. Gate.io P2P – Diverse marketplace for P2P traders

The 6 best P2P crypto exchanges: These are the best platforms for peep-to-peer traders

In the following sections, we are going to examine the best P2P crypto exchanges that are available to peer-to-peer traders today. We’ll focus on core features like the number of supported currencies, fiat currencies, payment methods, user interface, and more.

1. Binance P2P – The best P2P crypto exchange overall

Binance P2P stands as a formidable force in the cryptocurrency world. As one of the largest global exchanges, Binance offers an extensive P2P platform. It supports a wide array of cryptocurrencies, making it a go-to choice for both novices and seasoned traders. Binance’s user-friendly interface simplifies the trading process, ensuring a seamless experience for all.

The platform supports 8 different cryptocurrencies along with more than 50 fiat currencies and over 70 payment methods. Among other methods, Binance P2P supports SEPA payments, making it one of the best P2P options available for EU citizens and one of the best SEPA exchanges overall.

2. KuCoin P2P – The emerging P2P contender

KuCoin P2P is steadily gaining prominence within the P2P marketplace. What sets KuCoin apart is its integrated escrow service, which enhances security during transactions. Additionally, the platform offers a diverse range of payment options, catering to the varied preferences of its users. KuCoin P2P is carving out a niche as a reliable choice for P2P crypto trading.

KuCoin supports 5 digital currencies, including Bitcoin, Tether, Ethereum, KuCoin’s native KCS token, and USD Coin. Users can transact in over 30 fiat currencies and more than 20 payment methods. Like others on our list, KuCoin supports escrow, which means that the money is withheld by the exchange until both parties settle their end of the transaction. Beyond the P2P service, KuCoin is widely regarded as one of the best cryptocurrency exchanges in the market.

3. Bybit P2P – Derivatives enthusiast’s haven

Bybit P2P is a platform tailor-made for derivatives enthusiasts. Primarily renowned for its derivatives trading, Bybit now extends its expertise to the P2P marketplace as well. This expansion allows traders to explore P2P trading opportunities for a relatively restricted selection of cryptocurrencies, featuring Tether, Bitcoin, Ethereum, and USD Coin.

However, where Bybit makes up for the limited number of supported cryptocurrencies is a wide range of supported payment methods and a very user-friendly interface. In addition, Bybit features several promotions targeted at P2P users who can win prizes simply by using the peer-to-peer platform.

4. HTX (formerly Huobi) – A global P2P platform

HTX P2P (formerly Huobi) boasts a global presence that few can rival. With support for multiple fiat currencies and cryptocurrencies, it stands as an excellent choice for users across the globe. The platform is celebrated for its robust security measures and user-friendly interface, ensuring the safety and satisfaction of its users.

HTX supports more than 30 fiat currencies, including USD, EUR, and other popular options. Moreover, the P2P platform allows users to trade USDT, BTC, USDD, HT, TRX, and ETH. It has an escrow service as well, which makes the transaction of currencies between users safe from potential scams.

5. OKX P2P – A streamlined P2P experience

OKX P2P prioritizes security and simplicity in its approach. The platform offers an intuitive P2P trading experience, ideal for both beginners and experienced traders. OKX incorporates advanced security measures to safeguard users’ funds, instilling confidence in its user base.

OKX’s P2P interface deserves a lot of credit for its simplicity and clear display of information. The exchange displays the history of P2P transactions from each merchant, which provides valuable insight before deciding which P2P party to use.

6. Gate.io P2P – Diverse marketplace for P2P traders

Gate.io P2P boasts a diverse marketplace where users can trade an extensive range of cryptocurrencies. Its user-friendly interface ensures a hassle-free experience, while its high liquidity appeals to traders seeking efficient transactions. Gate.io stands as a compelling choice for those exploring the world of P2P trading.

Gate.io’s P2P trading platform is very easy to use, allowing users to set the swap amount, quantity, and unit of cryptocurrency/fiat currency they’d like to trade in just a couple of clicks. Overall, Gate.io features the most user-friendly interface out of all exchanges on this list. However, the simplicity does come at the cost of somewhat limited information about merchants offering their services on the platform.

P2P crypto exchanges FAQs

What is P2P in crypto?

P2P in crypto stands for Peer-to-Peer, signifying a decentralized method of trading cryptocurrencies directly between users. This eliminates the need for intermediaries or centralized exchanges, promoting autonomy and security.

How to buy crypto P2P?

Buying crypto P2P involves creating or responding to buy/sell ads on P2P platforms, negotiating terms with fellow users, and executing transactions. Multiple payment methods, including bank transfers and digital wallets, are typically available to facilitate the process.

Is P2P crypto trading legal?

The legality of P2P crypto trading varies from one jurisdiction to another. It is imperative to understand and adhere to local regulations to avoid legal complications when engaging in P2P crypto trading.

Which crypto platform has P2P trading?

Several cryptocurrency platforms offer P2P trading services, with the top choices for 2023 being Binance, KuCoin, Bybit, Huobi, OKX, and Gate.io.

Is it risky to do P2P?

While P2P crypto trading can be secure, it carries some inherent risks, such as potential scams and fraud. To minimize risks, use reputable platforms, conduct due diligence, and prioritize security in your transactions.

The bottom line: If you want to trade crypto P2P, these marketplaces are your best choice

P2P trading is as old as Bitcoin itself. Before any crypto exchanges, users would trade their Bitcoin through PayPal. It’s crazy to think about now, but the first recorded Bitcoin P2P trade took place in 2009 when 5050 BTC were sold for roughly $5 via a PayPal transaction that was agreed upon on BitcoinTalk, one of the oldest and biggest crypto forums.

As the cryptocurrency industry evolved, P2P marketplaces evolved as well, providing users with greater security, escrow options, KYC requirements, and other features that increased their utility. While there are many options available, the P2P platforms featured in this article are the best overall. For a quick glance at their core features, feel free to check out the table below for a quick comparison of P2P crypto exchanges:

If you value the security and safety of your crypto funds above all else, we suggest you check our selection of the safest crypto exchanges in the market today.