With the introduction of security deposits and other security features, P2P crypto exchanges have become more sought-after than centralized exchanges. Transactions are now better monitored to identify and remove fraud. But, most importantly, the best P2P crypto exchanges now facilitate quicker deal executions than ever before.
Even better than typical crypto exchanges, P2P platforms like Best Wallet offer improved privacy and control. You’ll get diverse payment options, from credit cards to PayPal, Apple Pay, and G Pay. The platforms also offer global accessibility for you to connect with users all over the world.
Best Wallet is our top choice among the best P2P crypto exchanges in 2025. For other options, you can try MEXC, OKX, Bybit, and BingX. We’ll review all these platforms and highlight their notable features and why you should consider them.
For extensive cryptocurrency support, user-friendly features, top-notch security features, and multi-device compatibility, here are our recommended platforms:Our Top Recommended P2P Crypto Exchanges
P2P Exchange
Trading Fee
Payment Options
Best Wallet
0%
Credit card, PayPal, Apple Pay, crypto, bank transfers, etc.
MEXC
0%
Bank transfers, ShopeePay, Momo, etc.
OKX
0%
Google Pay, Apple Pay, TransferWise, bank transfers, etc.
Binance
0%
PayPal, SEPA, Skrill, bank transfers, etc.
Bybit
0%
PayPal, bank transfers, debit cards, etc.
BingX
0%
SEPA, Revolut, Wise, etc.
KuCoin
0%
Credit cards, bank transfers, PayPal, etc.
Best Wallet is a practical P2P crypto exchange you can take with you anywhere. That is possible through its mobile applications for both Android and iOS devices. The setup is also effortless and quick for new users. To set up your Best Wallet account, simply provide your email and click the verification link. Then, set up the password and add biometric security and 2FA. With your Best Wallet account set up, you can fund your primary wallet or import an existing wallet. That is one of the wallet’s defining qualities, but it doesn’t end there. Best Wallet not only supports multiple wallet management but also supports cryptocurrencies and wallets on multiple chains. You can store and manage cryptocurrencies on over 60 chains. When it is time to trade with other wallet users, simply go to the “Trade” section and select “Sell.” Still on this page, you’ll find options to buy cryptocurrency, transfer to another wallet, swap, and receive tokens in your wallet. All these happen with relatively low fees (or zero fees for P2P trading), but Best Wallet offers even more. Right inside Best Wallet, you can access several DApps for even more functionalities. The supported DApps include iGaming applications like MegaDice, news platforms like Crypto News, project directories, and DeFis like DexScreener. You can also access staking platforms like Rocket Pool to stake Ethereum and earn rewards. If you opt for Best Wallet today, you will not only get all these features, but you will also have full control over your assets. That is because the wallet is non-custodial. Even so, you have the option of backing up your data against any eventualities. Best Wallet is set to receive more features. One of these is market insights, where you can access market sentiments and get real-time updates.
1. Best Wallet — Our Overall Top Choice
Key Features
Pros and Cons of Best Wallet
Pros
Cons
This P2P crypto exchange offers over 120 monthly airdrops. The total APY is up to 52.2%, and you will enjoy 50% off-taker fees if you hold up to 500 MX. As for the airdrops, you simply need to hold at least 25 MX in your spot account to participate in the airdrops. These come from Kickstarter projects and new tokens in the launch pool. The MX token powers the MEXC ecosystem. Get on board, and you can trade spots and futures, but it doesn’t end there. MEXC supports copy trading, a feature we recommend for new cryptocurrency traders. Simply copy the trades of other successful traders. When it comes to trading, MEXC offers seamless trading on its mobile app. The app features the latest trending tokens across different global markets. You’ll also enjoy tighter spreads, steadier trading, and faster trades, thanks to the platform’s premium liquidity. MEXC stands out with its market-leading tradeable volumes for futures and spot trading. Even better, you can use the P2P trading feature on the platform. This feature allows you to connect with other cryptocurrency holders directly. Supported payment options include PayPal, Apple Pay, credit cards, G Pay, etc. A few other areas where MEXC stands out are security and the futures insurance fund. For the security of your cryptocurrencies, the platform offers cold storage and hot wallet strategies. While not as robust as Best Wallet, the storage solution is enough for most average crypto trading. The futures insurance fund helps compensate for losses exceeding the margin. That, in turn, allows you to trade with more confidence.
2. MEXC — Trade with Regular Airdrops
Pros and Cons of MEXC
Pros
Cons
OKX offers P2P trading with zero trading, but that’s just for a start. You can pay with local fiat currencies and even pay cash in person. That is, of course, if the other party agrees to accept cash payments. The P2P trading platform supports dozens of cryptocurrencies. You can buy and sell USDT, ETH, USDC, and BTC with just a few clicks. A typical order page on the platform includes the makers, unit price, order limit, and payment methods. To sell, you simply have to become a P2P merchant with OKX. That allows you to run your own mini exchange and become a super merchant as you make sales and grow your network. Besides P2P trading, OKX offers express buy services for crypto purchases. You simply log in, select the crypto, pick a payment option, and make the payment. Note that the express buy option requires identity verification. So does the P2P trading platform. That is where Best Wallet has the advantage with its anonymous trading system. For a more decentralized platform, you can opt for the OKX DEX. But note that the DEX does not offer P2P trading like the OKX CEX. For the most part, you’ll be doing token swaps. The pro traders can advance to bridging tokens or use advanced tools and in-depth analysis for their trades.
3. OKX — Buy and Sell With Zero Trading Fees
Pros and Cons of OKX
Pros
Cons
Binance is not only the largest cryptocurrency exchange by market share but also the largest P2P trading platform. It gets even better, as you can buy cryptocurrencies with bank transfers and dozens of other payment methods. These methods support over 100 fiat currencies to facilitate trades among peers. For each maker, you’ll find details on the completion rate, the number of orders, the number of likes, and the time for a trade. You can further refine the list by entering a transaction amount, selecting a specific payment method, or sorting by price, completion rate, completed order number, or rating. Then, when you are ready to trade, simply click the “Buy” button. Note that some trades require verification. You’ll have to provide the maker with a few details before you can purchase the crypto. For all P2P trades, Binance offers escrow services. That ensures neither party holds the funds until the transaction is confirmed. You will also enjoy zero fees on the trades. So far, Binance has over 260 million users, making it the one place to find the largest settlement of crypto traders in the world. Besides P2P trading, you can copy the trades of other professionals and even trade with automated strategies. Binance offers trading bots for the latter. You can also get the latest Binance listings with the best prices.
4. Binance — Trade with a Large User Base
Pros and Cons of Binance
Pros
Cons
Bybit stands out for its speedy transactions. Even better, you can participate in airdrops and get APR boosters. There is also an opportunity to earn up to 555% on USDT with the savings feature. The platform features the top picks for daily P2P trades. When buying, all you have to do is make a payment and receive the coins. Ensure you use your account for the purchase. And you can also refuse a trade if the maker isn’t using their primary account. Bybit supports P2P trades with over 60 fiat currencies. The number of supported cryptocurrencies is even higher, at over 300. Get to the VIP level, and you’ll enjoy 10% off fees with a minimum transaction value of 1,500 USDT. You can also complete tasks and get part of the 20,000 USDT prize pool on the platform. As a new P2P merchant, you can join Bybit, complete tasks, and get a 20 USDT airdrop for your effort. Then, you can settle in to earn more through fixed savings or staking. Bybit offers a Web3 platform where you can connect your wallet and access even more crypto assets. The platform also features several DApps, and you can buy not only cryptos but also NFTs. For profitable trades on Bybit, look out for new listings, meme coins, and hot derivatives.
5. Bybit — Fast P2P Trading
Pros and Cons of Bybit
Pros
Cons
BingX offers priority traffic to its P2P merchants, ensuring quick and secure sales. You’ll also receive 1-on-1 exclusive support. However, these and many other benefits come at the expense of anonymity. Unlike Best Wallet, you’ll have to complete KYC verification before you become a P2P merchant. The other registration requirements involve linking your phone number and your email. When it comes to trading, BingX supports over 300 payment options. The top methods are Payeer, Wise, and Zelle. You will also enjoy quick transaction times and an easy-to-use interface. Besides crypto payment options, the P2P platform supports fiat-to-crypto conversions. This feature allows you to buy cryptos with your credit card or other fiat payment methods. Speaking of cryptocurrencies, BingX supports over 1,000 coins. These include AI agent coins, shitcoins, penny cryptos, Ethereum ICOs, and Solana ICOs. BingX offers spot, futures, and copy trading. For futures trading, you can have long/short positions with leverage and a profit of up to 125x. The spot trading section also offers automatic calculation of average cost and PnL. Grid trading is also available on BingX. This section allows you to create your own personal trading strategy and trade spot or futures on the platform.
6. BingX — Wide Payment Support for P2P Trades
Pros and Cons of BingX
Pros
Cons
KuCoin is available in 200 countries and has over 39 million investors. The platform also supports over 900 cryptocurrencies and boasts a $3.22 billion 24-hour trading volume. With KuCoin, you’ll get secure storage for your assets, strong security for your account, and asset transparency through “proof of reserves.” These benefits apply to web and app-based platforms. For the app, connect with the App Store or the Google Play Store to download and install it. KuCoin isn’t just a place to trade cryptos through P2P trading. You can also earn rewards through merchant and user growth promotions. These rewards are based on trade rankings among merchants and users. The platform also offers protection against P2P scams through escrow service, feedback rating, and advanced security features. For beginners, KuCoin is the ideal place to be. The platform offers tutorials on how to become a merchant and a trader.
7. KuCoin — Best for Global Reach
Pros and Cons of KuCoin
Pros
Cons
The Basics of P2P Trading
P2P trading is a trading approach where you trade cryptocurrencies with other users directly without any middleman negotiating the trade. What the platform does instead is connect the traders. From there, you can contact the makers directly to buy their cryptos or sell yours to other takers.
The traditional order books we see on centralized exchanges do not work in P2P trading. What’s more, you get to choose which currency to buy the crypto in just as much as the seller decides which currency to trade with.
You can transact in cryptocurrencies or use fiat options, provided the seller is willing to trade. In most cases, the trade is quick since there is no middleman.
Some P2P platforms allow face-to-face cash transactions. We don’t recommend that, as it robs you of the escrow services that reputable P2P crypto exchanges offer. That leads us to the prominent characteristics of P2P trading.
The Top Characteristics of P2P Trading
The characteristics include the following:
- Decentralized nature: The P2P crypto exchanges do not hold user funds, except when the escrow service is engaged. Even so, the users have full control over the funds.
- Escrow services: This service enhances security by locking up the funds from the buyer until the transaction is confirmed. That way, the seller cannot trick the buyer until the buyer has confirmed the receipt of the cryptos.
The P2P Transaction: How it Works
P2P trading begins with the P2P crypto exchange. This platform onboards the merchants who have cryptos to sell.
The P2P platform may have its proprietary wallet, like what Best Wallet offers. Still, merchants can store their assets outside the platform.
In summary, here’s how the process works:
- The merchant signs up and makes an ad to sell crypto (let’s assume the crypto is Bitcoin for now).
- The buyer signs up, goes through the ads, and picks one for the trade. Note that the ad will contain the buyer’s preferred crypto and payment option.
- The buyer proceeds to make a payment for the crypto.
- The P2P crypto exchange keeps the money in the escrow service until the merchant sends the crypto.
- Once the buyer confirms the crypto, the escrow service will release the money to the merchant.
Some P2P crypto exchanges provide escrow services for the merchants as well. In that case, the merchant will send the crypto to the escrow service while waiting for payment from the buyer.
One thing you should note in P2P trading is the exchange rate. Merchants will have different rates, and it is up to you to pick the best.
In the example below, we’ve picked Mastercard as our preferred payment option for a USDT P2P trade. By the way, other credit cards are available.
You can see that P2P_HUSTLE has the best rates when buying with EUR. If we want to trade, we simply have to click “Buy USDT.”
What to Consider Before Making a P2P Trade
Here are the things we recommend you consider before clicking the buy button:
Trade History
For this aspect, we recommend going for merchants with a high number of completed trades. That is because reputable merchants tend to have repeat buyers and also more transactions. The high number of completed orders indicates experience and reliability.
Feedback and Ratings
The ratings are typically displayed in percentages. Look for merchants with 100% or closer to 100% feedback ratings.
Response Time
For smooth transactions, pick merchants with quick response times. Thankfully, the best P2P crypto exchanges will rank the merchants appropriately for effortless identification.
Verification Status
This factor only applies to P2P crypto exchanges that conduct verifications on the users. Otherwise, you may have no way of verifying the merchant.
Why You Should Consider the Best P2P Crypto Exchanges
One area where P2P crypto exchanges stand out from regular trading platforms is privacy. The latter, being centralized, typically requires KYC and other verification procedures. With P2P crypto exchanges like Best Wallet, you will likely not need to provide such personal details.
Other advantages of using P2P crypto exchanges are as follows:
More Payment Options
The payment methods may include both cryptocurrencies and fiat currencies. Whichever is the case, you can be sure of finding local payment options on P2P crypto exchanges. You simply have to search for merchants willing to sell via your preferred currency.
The broad coverage of payment options makes it easier for global trades. That is unlike centralized crypto exchanges with limited payment options.
Lower Fees
All the best P2P crypto exchanges on this platform have zero fees for P2P trading. That means you can buy crypto from willing sellers or sell them on these platforms without incurring extra fees.
The P2P platforms do not charge fees, as they are not involved in the transactions besides providing a means for you to communicate with other traders.
However, note that you may have to pay for the escrow services.
Fast Transaction Speeds
Transactions tend to be faster since you are interacting directly with the seller or buyer. Nonetheless, ensure you pick a secure and speedy payment option when trading.
The Risks of Trading on P2P Exchanges
Some of the risks of trading on P2P crypto exchanges and how to mitigate them are as follows:
Scams and Fraud
The P2P crypto exchanges do not verify transactions. Instead, you will verify before the platform releases the money (in cases where escrow wallets apply).
Some merchants and buyers may send fake transaction receipts. As such, always verify from your Web3 wallet that you have received the crypto from the seller before approving the transaction.
Disputes
Disagreements over transaction details can prevent the escrow wallet from releasing the funds or crypto. It gets much worse on platforms that do not provide resolution services for such cases. The dispute may drag on for a long time.
Security Risks
Although we’ve carefully selected the best P2P crypto exchanges, the truth remains that these platforms operate with less regulatory oversight than centralized exchanges. That may likely leave security lapses that hackers may exploit.
With hacks contributing over 90% to the crypto lost in 2024, you must watch the platforms you sign up with. Always ensure you sign up on reputable P2P crypto exchanges.
How P2P Crypto Exchanges Compare to OTC Exchanges
Both platforms facilitate the trading of cryptocurrencies. However, they have key differences in the following areas:
- Transaction volume: OTC exchanges deal with large-volume trades, typically involving hundreds of thousands of dollars.
- Target audience: P2P crypto exchanges cater more to individuals, while OTC exchanges serve institutional investors and high-net-worth individuals.
- Rates: OTC platforms typically offer the best rates because of the large trading volume.
Best Wallet is the best place for beginners in P2P trading. It is simple to use and, most importantly, available on mobile for on-the-go transactions. To start P2P crypto trading on Best Wallet, follow the steps below: The wallet is available on the Apple Store and the Google Play Store. Alternatively, you can get the download links on the official website. Enter your email and click the verification link. Then, set up your password and biometrics for quick logins. You’ll find the option to buy cryptos in this section. Select your preferred token and pick a payment method. Then, enter the amount and authorize the transaction where needed.
For the best P2P crypto exchanges, our top recommendations remain Best Wallet, MEXC, and OKX. Best Wallet stands out for supporting anonymity among its users. That means you can trade without revealing your details or carrying out KYC verification. To be on the safe side, ensure you use escrow wallets for your trades. Avoid face-to-face transactions and keep all transactions on the P2P exchange.How to Trade on a P2P Crypto Exchange (Best Wallet Guide)
Step 1: Download and Install the Best Wallet Application
Step 2: Provide Your Email and Set Up Your Wallet
Step 3: Go to the Trade Section
Final Thoughts
FAQs
Do P2P crypto exchanges charge trading fees?
Which currencies can I use to buy crypto from P2P crypto exchanges?
Do I need KYC verification before using P2P crypto exchanges?
