Top 7 P2P Cryptocurrencies Exchanges in 2021
Digital money, also known as Cryptocurrency, is not an alien concept to anyone today. Whether you are at work, with friends or surrounded by your family, the topic of investing and trading in Cryptocurrencies such as Bitcoin, Ethereum, Dogecoin (Elon Musk fans!) is likely to come up during conversations. There are many reliable Cryptocurrency exchange and trading platforms available to investors and anyone is just a log-in or a mobile app download away from your first purchase.
Today, many cryptocurrency exchanges offer peer-to-peer (P2P) crypto exchanges that enable users to directly transfer digital currencies into the users’ account without the interference of any financial or governing authority. P2P Cryptocurrency exchange gives more power to the users and thus has grown in popularity ever since its introduction.
How Does P2P Cryptocurrency Exchange Work and Is it Safe?
When you trade any cryptocurrency such as Bitcoin on an exchange platform, you pay fiat currency (such as USD, GBP, EUR, etc) for the digital currency at the market rate. But, in P2P Cryptocurrency exchange, users can set the price and choose the suitable mode of payment (such as PayPal, credit card, bank transfer, etc) between themselves and buy or sell the cryptocurrency by paying a small amount as a fee to the exchange.
P2P exchange is a swift way of trading in crypto but it relies on the honesty of the users. Does this mean that it is unsafe? Not at all. Many exchanges offer support to users if someone has sent insufficient money or does not send money at all. In most cases, the transaction goes on normally, without any hassle. If you are wondering which are the top P2P cryptocurrencies exchanges in 2021 then this is the only blog you will need to read!
Best P2P Cryptocurrencies Exchanges in 2021
- Binance P2P (Global)
Without a doubt, Binance is the most popular cryptocurrency exchange and trading platform in the world right now. The Binance B2B exchange has the biggest network, with traders in almost every country and thus it is the go-to platform for Peer-to-Peer cryptocurrency exchange. Currently, the platform supports more than 140 digital currencies and Binance is one of the safest places to use P2P exchange. One of the advantages of using Binance P2P is that if traders are holding their token – Binance coin, then the platform does not charge any exchange fees!
- Remitano (Global)
Based in Singapore, the Remitano cryptocurrency exchange platform was founded in 2015 and has been a popular P2P crypto exchange platform ever since. They have the best User Interface (UI) design that enables traders to swiftly trade on the market or amongst other users. Remitano is also considered as one of the safest and most secured exchange platforms with top-notch customer service as well. The only discouraging thing about the platform is that they charge a fee for every deposit or crypto withdrawal. For P2P exchange, their fees stand at a standard 1% of the transaction.
- Localbitcoins (Global)
Localbitcoins was founded in 2012 and is currently headquartered in Helsinki. It is one of the biggest P2P cryptocurrency trading platforms in the world right with many traders using the platform for safe and secured P2P exchange. This decentralized platform offers more than 240 digital currencies and is operational in more than 200 countries as of 2021. For P2P trade advertisements, Localbitcoins charges a 1% fee from the buyer and the seller.
- Paxful (Global)
Launched in 2015, Paxful is a relatively newer P2P cryptocurrency exchange but it is one of the fastest and most user-friendly platforms right now. Traders can buy or sell more than 150 digital currencies on the platform as it has a highly secured network. One of the best things about Paxful is that traders can add money from 350+ modes of payments such as bank transfer, credit & debit cards, Paypal, CashU, Western Union, etc. Paxful charges a 1% transaction fee to the sellers but considering the seamless experience on the platform, and the safety of the transaction traders do not mind this!
- HODL HODL
If you are looking for a P2P cryptocurrency exchange that does not have stringent Know Your Customer (KYC) registration rules then HODL HODL should be the choice of platform for you! It is a good example of a non-custodial crypto trading platform. Many traders prefer the HOLD HODL platform because of the low fees. The platform charges only a 0.3% trading fee (as opposed to 1% charged by many other exchanges). Thus, this is the most suitable platform for crypto traders that wish to stay anonymous and do not prefer strict KYC norms.
- Localcoinswap (Global)
Localcoinswap is another option for traders that want to use a P2P cryptocurrency exchange that does not require the user to go through the entire KYC process. Registered in Hong Kong, the exchange platform was launched in 217 and has gained quite prominence in Asian countries. Localcoinswap also accepts many modes of payment including Alipay, IMPS, PayTM, bank transfer, etc. One advantage of using Localcoinswap is that the buying and selling are free but if you create an advertisement to buy or sell then they charge 1% of the transaction as a fee.
Currently headquartered in Luxembourg, Bitstamp was launched in 2011 and has been offering P2P cryptocurrency exchange since 2013! It is a preferred platform for traders from Europe and particularly, the UK and offers more than 200 digital currencies for a P2P exchange. Bitstamp offers a fast, safe and secured exchange and has a great reputation for being trader-friendly (customer support as well as coins supported). You can easily trade coins such as Bitcoin, XRP, ETH, Bitcoin Cash, etc to safely initiate a P2P exchange.
When we talk about top P2P cryptocurrency exchanges in 2021, there are plenty of options available (as you can see from the list mentioned above!). All of them are secured, safe and offer quick customer support in case of any discrepancies. Which P2P exchange platform to choose from the list, completely depends on the individual trader. Some are more suitable for traders looking to stay anonymous, while others are preferred by traders looking for high security.