7 Best P2P Crypto Exchanges in 2025

You can buy cryptocurrencies directly from local sellers when using peer-to-peer (P2P) exchanges. P2P platforms, which often support hundreds of payment methods and currencies, sometimes allow users to avoid KYC, too, making them a great option if you don’t want to provide a government-issued ID. 

We examine the best P2P crypto exchanges in 2025, ranking the top platforms for trading fees, purchase methods, delivery times, and available assets. Learn how P2P trading works and how to stay safe when completing orders.  

The Top 7 P2P Crypto Exchanges in 2025

Our research shows that these are the best P2P Bitcoin exchange platforms:

1. Best Wallet — The Overall Best Place to Buy Crypto With Local Payment Methods
2. MEXC — Access Over 4,000 Trading Pairs After Completing the P2P Payment
3. OKX — Buy Large Amounts via the Block Trade Feature for Top Market Rates   
4. Binance — Purchase USDT Below the Market Price to Secure Arbitrage Opportunities
5. Bybit — No P2P Trading Fees and Reduced Seller Rates With Super Vouchers 
6. BingX — Best Peer-to-Peer Platform to Access Copy Trading, Bots, and Derivatives
7. Kucoin — User-Friendly P2P Exchange App for iOS and Android Users

7 Best Peer-to-Peer Crypto Exchanges Reviewed

Below you’ll find extensive reviews of the top peer-to-peer platforms. Read on to choose the best P2P cryptocurrency exchange. 

1. Best Wallet — Top Anonymous Crypto App With Instant Fiat Purchases and Low Fees

Best Wallet is a popular crypto app for iOS and Android that offers an anonymous trading experience. The app, which serves as both a non-custodial wallet and an exchange, allows users to buy over 1,000 cryptocurrencies instantly using convenient payment methods, including bank transfers, debit and credit cards, and e-wallets such as Google Pay and Apple Pay. 

Users get the best market fees, as Best Wallet sources exchange rates from hundreds of liquidity providers. Once the P2P payment is processed, cryptocurrencies are safely stored in the wallet balance — security controls include biometrics and two-factor authentication via SMS. Other Best Wallet features include a token Launchpad and instant token swaps.  

Visit Best Wallet

2. MEXC — The Best Option for Portfolio Diversification With 4,000+ Supported Crypto Pairs

MEXC’s P2P crypto marketplace offers a no-KYC experience — users open an account with an email or mobile number only. 

While the P2P platform supports USDT, USDC, Bitcoin, and Ethereum, the main MEXC exchange has over 4,000 trading pairs. Markets include traditional spot trading and crypto derivatives with leverage of up to 500x. 

No additional fees are charged when buying cryptocurrencies from P2P sellers, and exchange rates are typically just above the global spot price. Limits are lower than on other platforms, so MEXC is a better fit for those who want to buy small amounts. 

Visit MEXC

3. OKX — A Great Option for P2P Traders Who Want to Purchase Large Amounts ($10,000+)    

OKX is the go-to exchange for P2P traders with significant purchase requirements. Its Block Trade feature targets large-scale investors who need to buy over $10,000 worth of digital assets. The feature ensures that traders minimize the price impact and get the most competitive exchange rates without relying on over-the-counter (OTC) brokers. 

The peer-to-peer crypto exchange supports USDT, USDC, Bitcoin, and Ethereum. Traders can choose from over 900 payment methods, including local and international transfers, e-wallets, and popular banking apps such as Revolut and Cash App. Once the assets are delivered to OKX, users can access hundreds of other markets, including spot trading, delivery futures, and options. 

Visit OKX

4. Binance — Access Thousands of Dollars Worth of USDT Below the Spot Price

Binance users can purchase USDT on its P2P platform below the market price — multiple trading partners offer thousands of dollars worth of liquidity at sub-$1 per token. This price dynamic lets users secure arbitrage opportunities, as P2P rates are locked in while buyers complete payment. The exchange also supports Bitcoin, Ethereum, USDC, Dai, and other top altcoins. 

P2P traders have over 800 payment methods to choose from across over 100 currencies, including popular e-wallets like Skrill and Neteller. Binance ensures safe trading via a P2P escrow system, and both buyers and sellers must go through a KYC process before they get started.  

Visit Binance

5. Bybit — Cost-Effective P2P Trading With No Markups and Free Voucher Discounts

Bybit is the world’s second-largest crypto exchange after Binance. It commands daily trading volumes of several billion dollars, and the platform recently surpassed 71 million users. 

The peer-to-peer suite supports USDT, USDC, Bitcoin, and Ethereum, and buyers have over 600 deposit options, including mobile payments, local transfers, and PayPal. Users get a cost-effective experience, as Bybit doesn’t add markups to seller rates. The platform also offers more favorable exchange rates when claiming a super voucher. The drawback is that vouchers require users to complete KYC verification. 

Users who prefer anonymity can withdraw up to 20,000 USDT daily without providing personal information or ID documents. 

Visit Bybit

6. BingX — Purchase USDT in Under 10 Minutes to Access a Huge Range of Trading Features

BingX’s P2P crypto exchange supports just one asset — USDT, yet it remains one of the best options to access the broader markets. BingX supports over 1,000 cryptocurrencies, including spot trading and perpetual futures with leverage of up to 125x. Automated tools include grid bots and copy trading, which are popular options to invest in digital assets passively. 

The P2P exchange supports over 300 payment types and over 65 fiat currencies. Local methods include mobile transfers, LINE Pay, and Wing Money.

Most peer-to-peer sellers have a minimum purchase requirement of just $10, and upper limits often exceed several thousand dollars.  

Visit BingX

7. Kucoin — Access Five P2P Cryptocurrencies on a User-Friendly Mobile App

KuCoin, which launched in 2017, claims that one in four crypto holders use the platform globally. It has over 40 million verified users from over 200 countries, and daily trading volumes often exceed $5 billion. 

The platform is one of the best P2P crypto exchanges for mobile users — the iOS and Android apps are simple to use with a great user interface and highly suited for beginners. P2P traders can access five cryptocurrencies: USDT, USDC, Bitcoin, Ethereum, and KuCoin Token. KuCoin supports over 100 payment types and 30 fiat currencies — instant methods include Neteller, Google/Apple Pay, and local transfers. 

Other features include a Launchpad for new cryptocurrencies, staking, and inverse futures contracts. 

Visit KuCoin

What Are & How Do P2P Bitcoin Exchanges Work?

P2P crypto exchanges support peer-to-peer transactions — users purchase digital assets directly from sellers rather than on centralized exchange order books. The P2P concept enables users to settle trades in domestic currencies and use local payment methods, such as local transfers and e-wallets. 

The escrow safeguard sits at the heart of P2P trading. Escrow systems ensure sellers deposit the required cryptocurrencies into the exchange’s wallet, which are locked while the buyer makes payment. The seller confirms they’ve received the funds, and the P2P platform transfers the crypto assets to the user’s wallet. 

In terms of trading fees, the best P2P crypto exchanges let sellers choose their preferred rates. Merchants that require a quick sale often set rates below the global spot price, providing buyers with a discount. 

P2P Crypto Exchanges versus Standard Exchanges

While most P2P platforms are backed by traditional exchanges, the crypto trading process differs. 

Here’s how peer-to-peer and standard exchanges compare. 

Crypto Prices

P2P sellers choose the exchange rate that they wish to offer — this can be more or less competitive than the actual market price. 

Standard exchanges use the order book system, which means prices are determined by market forces. Market makers ensure prices align with global spot rates. 

KYC Requirements

Traditional centralized exchanges have increased their focus on KYC enforcement since the U.S. fined Binance $4 billion for money laundering failures. The result is that major exchanges require users to upload a government-issued ID when they buy cryptocurrencies with fiat money. 

Peer-to-peer exchanges bypass these requirements, as buyers and sellers conduct trades directly. Platforms merely provide escrow services, meaning they don’t directly hold client funds.  This makes the P2P system ideal for those who favor privacy and anonymity. 

Supported Markets

Popular exchanges like MEXC and Bybit support thousands of cryptocurrencies across spot and futures markets. Yet, the same exchanges list just four crypto assets on their respective P2P platforms. 

BingX users face similar challenges — P2P buyers can only purchase USDT while the main exchange supports over 1,000 coins. 

The P2P framework helps investors enter the broader crypto ecosystem with fiat money, which is why it supports so few markets. 

Payments and Currencies

When using a P2P Bitcoin exchange, you have access to a significant range of payment methods and currencies.

Users based in countries with limited exchange support can easily buy digital assets with local bank transfers, mobile payments, and domestic e-wallets. Transactions settle in the national currency, so buyers avoid foreign exchange fees. 

Major exchanges, which support a global audience, typically offer fiat services in major currencies like USD, GBP, and EUR, and payments are limited to debit/credit cards. This lack of support for non-major payments alienates users outside of the developed world. 

Liquidity

While peer-to-peer cryptocurrency exchanges rarely publish daily volumes, our research indicates that they account for a fraction of traditional spot trading markets. 

For instance, platforms like MEXC, Binance, and OKX handle billions of dollars in transactions every day, yet the top P2P traders average volumes of only several thousand dollars. This directly impacts liquidity levels, whereas significant investments require multiple P2P sellers to meet the full requirement. 

Peer-to-Peer Crypto Exchanges versus OTC Exchanges

Peer-to-peer crypto exchanges connect buyers and sellers, so both parties avoid centralized exchanges or intermediaries. Sellers choose their exchange rates, and buyers are free to purchase assets from their preferred merchant. P2P providers support a wide range of currencies and local payment types, making it more convenient to send and receive money.  

The peer-to-peer concept is generally a good fit for casual users with small trading requirements, as liquidity levels are limited. It’s also popular with traders who favor anonymity, as many P2P platforms offer anonymous accounts. 

OTC exchanges serve large-scale traders — typically those investing six or seven figures. The process requires a centralized broker to complete due diligence on the individual, including their purchase requirements and proof of the source of funds. The broker negotiates rates with tier-one liquidity providers, locks in the price, and waits for the buyer to transfer capital. 

While OTC traders receive industry-leading prices, the trade-off is substantial account minimums, comprehensive Know Your Customer (KYC) identity verification, and payment methods limited to bank wires. 

Is P2P Crypto Trading Secure?

P2P exchanges are generally safe, as the escrow framework ensures secure transactions. After the buyer chooses a merchant and accepts the displayed price, the seller must transfer the digital assets to the escrow wallet, which is controlled by the P2P platform. The platform instructs the buyer when it’s safe to send payment to the seller. 

Another safeguard is that some exchanges require sellers to complete a KYC verification process, which deters scammers. Platforms also let buyers leave feedback after completing a trade, so future users can focus on sellers with positive reviews and an established track record. 

P2P trading isn’t completely risk-free, though. Buyers should report sellers who request to complete trades outside of the platform and ensure they maintain adequate records, such as screenshots of chats and proof of payment. Ensure you use a strong account password and if available, activate two-factor authentication. 

How Do I Start P2P Crypto Trading?

Here’s a step-by-step guide on how buy cryptocurrencies safely from peer-to-peer Bitcoin exchanges:

• Step 1: Choose a Platform — The first step is to select a suitable peer-to-peer exchange. Best Wallet is a good choice — it supports over 100 payment methods and more than 1,000 coins, and trades are typically settled within two minutes. 
• Step 2: Download the Best Wallet App — Visit the Best Wallet website, download the app, and complete the security steps (e.g, create a PIN and activate biometrics). 
• Step 3: Fill the Purchase Form — Click “Trade”, “Buy”, and select the crypto you want to buy. Choose the currency, amount, and purchase method. 
• Step 4: Enter the Payment Details — To complete the trade, enter the payment details and confirm. The app processes the payment instantly and transfers the cryptocurrencies to your wallet balance.  

Conclusion

Top peer-to-peer cryptocurrency exchanges provide a secure, anonymous, and convenient way to purchase digital assets. You use local currencies and domestic payment methods, and trade directly with sellers in the same country. 

Consider Best Wallet when selecting a P2P exchange. Best Wallet offers over 1,000 coins at industry-leading trading fees, and payment types include bank transfers and e-wallets. The Best Wallet app is free, non-custodial, and secure.  

Visit Best Wallet

References

• Bybit Is Now the World’s Second-Largest Crypto Exchange (Bloomberg)
• Crypto’s Biggest Hacks and Heists After $1.5 Billion Theft From Bybit (Reuters)
• KuCoin Pleads Guilty, Agrees to Pay Nearly $300 Million in US Crypto Case (Reuters)
• Binance and CEO Plead Guilty to Federal Charges in $4B Resolution (U.S. Department of Justice)