This list will give you the best P2P Bitcoin exchanges in the industry. You will be able to buy/sell Cryptocurrencies in exchange of fiat (or other cryptocurrencies) within seconds.
It’s important for you to know how we selected these platforms, isn’t it? Why are these the best? Well, for starters, we’ve personally used most of the peer to peer crypto exchanges listed here.
On top of that, we considered the following factors for each:
- Anonymity: We prioritized exchanges which do not require identification.
- Trading fee: We’ve listed the exact fee you’ll pay for each trade on each of these platforms.
- Deposit/withdrawal fee: The priority was to find platforms which allow the cheapest, or free deposits/withdrawals.
- Wallet-types: Non-custodial wallets were prioritized so you always control your funds.
- Other features: The interface, established trust, user profile-verification, geographical availability, mobile apps and a lot more was taken into account.
Let’s get some cryptocurrencies exchanged then?
Best P2P Bitcoin Exchanges in [year]
Here’s a list of every peer to peer crypto exchange we’ve listed in this piece:
- LocalCryptos: Best overall, 5/5
- LocalCoinSwap: 5/5
- Binance: 4/5
- Paxful: 4/5
- LocalBitcoins: 4/5
- HodlHodl: 3/5
- WhalesHeaven: 3/5
A 5/5 rating means the exchange is anonymous and offers non-custodial wallets. We rated 4/5 to those exchanges which are very popular, established, trustworthy, have a massive user-base but require identification.
Finally, 3/5 is for those exchanges which are either new, expensive, or lack a few features (these may be anonymous though).
LocalCryptos
Website: https://localcryptos.com/
- Non-custodial wallets
- No identity verification required
- Free deposits/withdrawals
- 25% maker/ 0.75% taker fee
- Globally available
“Non-custodial crypto marketplace”. This clarifies right away that the you own your coins on LocalCryptos. You get your private keys which let you access your coins on any Bitcoin wallet, even if LocalCryptos is offline!
Another major reason why it’s the best P2P exchange on the planet is- it’s anonymous! Well, yes, you don’t need to verify your identity to use LocalCryptos.
The interface is pretty modern and easy to use. It has hundreds of payment modes including bank transfers, UPI, cash, online wallets, PayPal and many others.
For verification, you can check if a user has verified his her email/phone, their total number of trades, total amount (volume) of the trades, ratings and reviews. Also has a “fast trader” badge which is provided to the fastest traders on the platform.
It’s available globally. You can trade using any native fiat currency and from anywhere in the world..
It has a maker-taker fee model. Meaning, if you’re the one listing your trade offer, you pay 0.25% on your trade. The person who responds to your listing pays 0.75% fee.
There’s no deposit or withdrawal fee whatsoever! You can take your funds out to third-party wallets without paying a cent.
LocalCoinSwap
Website: https://localcoinswap.com/
- No identity verification required.
- Non custodial wallets
- Free trades/deposits/withdrawals
- 1% fee for “offers”.
- “Verified vendor” tags, no. of trades, ratings displayed.
- Available globally.
LockCoinSwap’s primary attraction is, it’s “no documentation” policy. It’s not very demanding. All you need to signup is an e-mail ID.
The E-mail needs to be verified, however, you can always create anonymous email IDs which can’t be tracked back to you.
It interface is very similar to that of LocalBitcoins, although it’s not identical. It acts as an escrow between both the involved parties.
Currently it allows the buying/selling of over 200 different Cryptocurrencies, including, but not limited to BTC, ETH, DASH, USDT and so on.
There’s no fee for buyers or sellers as long as you don’t “post an offer”. Deposits are free as well. If you post an offer, buying/selling requires a 1% fee on the transaction amount. BTC withdrawals must be a minimum of 0.0005 BTC. There’s no withdrawal fee.
As is the case with most P2P exchanges, it lets you pay using dozens of different payment modes. You can obviously set your location as well.
You can sort sellers based on their popularity, price, payment method and the coin they’re selling.
Vendor profiles are pretty transparent. LocalCoinSwap shows a “verified” tags for vendors who’ve verified their legitimacy. It also shows if the vendor has or hasn’t verified his/her phone and e-mail.
Overall rating for the vendor as well as their typical response-time too is mentioned. The on-site wallet is non-custodial. Meaning, you can access your funds on any wallet as long as you’ve the seed, even if LocalCoinSwap goes offline.
Binance
Website: https://www.binance.com/
- Most popular “trading platform”.
- Free for buyers (takers).
- Sellers (makers) pay 0.35%/trade.
- Non-custodial wallets
- Mandatory identity verification
Binance isn’t just a P2P exchange, it’s the world’s most popular (in terms of users & trade volume) automated trading platform on the planet.
They recently introduced P2P trades. Now, the platform does require mandatory KYC verification for every profile. While this is a privacy killer, it does decrease the chances of scammers.
You can pay using over 150 different modes of payment. It’s global, in fact, about 50 fiat currencies can be used to pay on Binance. Because it’s a full-fledged trading platform, you can swap the coin you bought for most cryptocurrencies out there.
Takers do not pay any fee on Binance P2P. Makers (the one posting the listing) does have to pay a 0.35% fee. It’s still pretty cheap by industry standards.
The platform also has a pretty large team of support representatives, available 24X7 on live-chat.
Do note that it’s a non-custodial wallet. You don’t get your private keys. Withdrawals from Binance cost $20.00.
It does have very advanced mobile and iOS apps though.
Paxful (Can be Frozen User’s A/c AnyTime)
Website: https://paxful.com/
- Identity verification required
- 300+ payment modes
- Free for buyers.
- Selling fee between 0.5%-5%
- Arguably most no. of users on the planet
- Very detailed buyer/seller profiles
- Globally available
Paxful is one of the most popular, established, successful and user-rich P2P Bitcoin exchanges on the planet.
However, it’s not for you if you seek anonymity. In most countries, you’d be required to verify your identity to use Paxful. If you aren’t asked to do so, you’ll need to verify anyway if you wish to buy/sell more than $1000.00 in a year.
In fact, if you hit $10K trade volume, you’re required to verify your address!
Do note that there are 3 primary cryptocurrencies (BTC/USDT/ ETH) you can buy/sell on Paxful. Obviously, you can exchange them for other cryptocurrencies on third-party exchanges, but not on Paxful.
I love Paxful for its transparency. It shows total number of trades, trading partners, total trading volume, no .of people who’ve the seller as trusted or blocked them.
Also shows if the user has or hasn’t verified his her email ID/phone and identity!
Paxful also assigns tags such as “Power Trader”, “Corporate accounts” etc. which tells you which accounts can be trusted.
Over 300 payment modes (including gift cards) available. Paxful even has a 24X7 live-chat support.
There’s no fee for buyers. Sellers pay 0.5% on bank transfers, 1% on all other payment modes except Gift cards, which are charged at 3%-5%. 0.5% swapping fee exists. Internal transfers too charged at 1% for $1K+ transactions.
Android and iOS mobile apps available.
LocalBitcoins
Website: https://localbitcoins.com/
- Requires identity verification
- Oldest (successful) P2P exchange on the planet
- Free internal transfers
- Free buying/selling, 1% for “adverts”.
I doubt there exist a single list of the best P2P Bitcoin exchanges without the mention of LocalBitcoins. It’s one of the first P2P exchanges the world ever saw! This age shows on their interface (they forgot to upgrade to 2022).
LocalBitcoins too acts as an escrow between the two parties. Displays extensive profile information. Shows total trades, trade volume, real name verification, first purchase date and a lot more.
It too isn’t very privacy-centric (it was in its early days, and then govt. happened!). You must verify not just the email but also your phone number in order to continue. Identity verification too is almost mandatory.
It doesn’t charge any fee for deposits/buying or selling. Fee is charged only if and when you create a public ad for your trade. This fee is set at 1%. It doesn’t charge any fee for internal transactions though.
Being the oldest P2P exchange, it has a massive user-base. You’re guaranteed to find trading partners regardless of where you live. It lets you pay using over 100+ fiat modes and two dozen different cryptocurrencies.
LocalBitcoins also has native Android and iOS support.
HodlHodl
Website: https://hodlhodl.com/
- 100% anonymous
- Hundreds of payment modes
- Non-custodial
- 3% fee for each party.
HodlHodl is a multisig P2P crypto exchange platform. Being multisig, a key to the escrow funds is shared with you as well. It lets you buy/sell cryptocurrencies using hundreds of different fiat payment modes.
“Anonymity” is one of its primary USPs. No identification or documents ever required. The verification feature does exist though, and is optional. Verified users get a “verified” tag, lower fee, and better trade limits.
I pay special attention to a user’s profile data. Well, HodlHodl does show last trade, no. of high volume trades, no, of won/lost disputes, total rating, total trade volume , and actual reviews from users.
The trading fee is set at 0.3% for the buyer as well as the seller. The total being 0.6% split equally between both the parties.
A few limits do exist though, primarily on the total trade volume and no. of “simultaneous open trades”. These are eased as a trader makes more trades and gains higher reputation.
WhalesHeaven
Website: https://www.whalesheaven.com/
- Primarily for large transactions
- 100% anonymous.
- Non-custodial.
- Free withdrawals
- Free trades (for a limited time)
- Crypto to crypto swaps.
WhalesHeaven is a P2P Bitcoin exchange platform that doesn’t require identification. In fact, it has a pretty unique ideology. The only requirement is you download its browser extension.
The platform is created to let you swap “cryptocurrencies” in a complete anonymous, non-KYC environment, without any volume limits. You can’t “buy” cryptocurrencies using Fiat.
Its limit is set at 30million USD/transaction and hence, it obviously was created to facilitate large-scale transactions.
It’s a multi-signature, non-custodial wallet. The exchange at no time has access to your funds. It allows users to sign transactions using the browser extension. This means while the platform can still act as an escrow, it doesn’t need to have control over your funds.
Not just that, it’s offering 100% free trades till January this year! Moreover, there’s no withdrawal fee or lock either. You’re free to take your coins out at any time you see fit.
Final verdict- Which is the best P2P Bitcoin exchange in 2022?
LocalCryptos is a pretty decent place to start. This crypto exchange isn’t just anonymous, but also has a good user-base, very acceptable fee and even free withdrawals.
Paxful and LocalBitcoins are pretty much the same. They’re probably the two most popular platforms for exchanging crypto, however, they aren’t anonymous.
Binance is another impressive option if you’re looking for a massive user-base, automated and very trustworthy P2P environment.
Anyway, that’s all from me. Go try these out and see which of these P2P Bitcoin exchanges suits your needs best?
