Best Peer-to-peer P2P Bitcoin Exchanges

7,403

Index

Peer to Peer (P2P) is the oldest and best way to buy the cryptocurrency like Bitcoin, Ethereum in your local area through cash or online payments.

There is a number of reputed trading platforms that provide the peer to peer Crypto-to-Fiat trading desk where you can deal directly with buyers or sellers.

The following are the best P2P Bitcoin Exchanges which provide Bitcoin and other cryptocurrency trading desk to buy or sell crypto with fiat in your country.

1. PAXFUL

Create PAXFUL ACCOUNT

Trading Fee: 0.5-1.0%

Bitcoin Withdrawal Fee: 0.0005 BTC

For Bitcoin Trading and Withdrawal: KYC not Compulsory

Paxful is a Peer to Peer Bitcoin marketplace where buyers and sellers connecting together. It was launched in 2015 and has headquarters in Wilmington, Delaware.

The paxful provides its services throughout the world with more than 300 ways to pay for bitcoins that include:

  1. Bank transfers (Bank of America, Wells Fargo, SEPA, wire transfer, and all other banks)
  2. Online wallets Transfers (PayPal, Serve to Serve transfer, Skrill, NetSpend, PerfectMoney, OkPay, and other major online wallets)
  3. Gift Cards (OneVanilla VISA/MasterCard, Amazon, Target, GameStop, BestBuy, Walmart, and many more)
  4. Cash (Western Union, MoneyGram, cash deposit to the bank teller, cash in person, cash by mail and any remittance options)
  5. Debit/Credit Card ( VISA, MasterCard,
  6. Amex debit and credit cards)
  7. Cryptocurrencies (Ethereum, Litecoin, EOS, Tether, Cardano, Monero and including many new coins and tokens)

You will get your payment transfers into your account instantly within 1-2 minutes after BUY/SELL bitcoin on Paxful.

Paxful has a rating system for users where you can easily find the most legitimate users in order to deal with them for buying and selling bitcoins directly.

Paxful provides its app available on android as well as on ios devices and users have access to all features in the app also.

Advantages: Nice user interface, easy to start, instant Buy/Sell, better market rates, active team, 24h live support, best for new users, a wide variety of payment methods accepted

Disadvantages: KYC required when the credit card or cash payment method used, the paxful app does not work properly most of the times, No advance privacy and security, centralized exchange, mixed reviews

Official Websitehttps://paxful.com/

Create PAXFUL ACCOUNT

2. LOCALBITCOINS

Create LOCALBITCOINS ACCOUNT

Trading Fee: 1%

Withdrawal Fee: 0.00001 BTC (1k Satoshi)

For Bitcoin Withdrawal: KYC not required

For Bitcoin Trading: KYC Required

Localbitcoins is a peer to peer marketplace for buying or selling bitcoin. It provides you two ways, one for dealing with the people directly offline in your local area and another for doing payments online.

This exchange was launched in 2012 having headquarters in Helsinki, Finland.

This exchange used by users worldwide and having a good reputation.

It is a little bit centralized but has more volume and trusted than other P2P exchanges.

Localbitcoins provide you good features. They also have a good user interface.

You will get good market rates on localbitcoins exchange.

The main problem with localbitcoins is that it makes KYC compulsory for all users in the year 2019 which is not good for privacy concerns.

This exchange volume increased a lot from the last year 2018 and you can track the volume of localbitcoins on coin.dance country-wise as well as globally.

Advantages: Easy to use, good user interface, good volume, good market rates, good reputation, very old and trusted

Disadvantages: Poor Privacy, KYC compulsory, centralized exchange

Official Websitehttps://localbitcoins.com/

Create LOCALBITCOINS ACCOUNT

3. CryptoLocally

cryptolocally-best-p2p-bitcoin exchanges

Create An Account at CryptoLocally

Trading Fee: 0.99%

Bitcoin Withdrawal Fee: None (but you can set a custom transaction fee in sats/byte for receiving bitcoins.)

For Bitcoin Trading and Withdrawal: KYC not Compulsory

CryptoLocally is a Peer-to-Peer (P2P) crypto trading platform that supports many next-generation blockchains. Its team is committed to creating the easiest, fastest, and most convenient way of trading cryptocurrencies. They have achieved this by providing a service that allows users to directly interact with one another without third-party interventions and user funds are protected by an escrow until transactions are complete. 

CryptoLocally exchange platform has a reputation system where trader’s reputation is counted automatically after every trade successfully completed. Traders also allows to give the feedback on their trades that is visible to all other users.

The CryptoLocally exchange platform also has their own native token named GIV that can be used to purchase or access a number of special features. 

There are number of ways of earning GIV tokens, which range from just signing up to being an active trader on our platform. The more GIV tokens users earn, the more they will be able to take benefits of the special features that come with owning GIV tokens.

Advantages:

  • Security: You have full control over your funds where all transactions aresecured with escrow, and the trading platform doesn’t hold your funds.
  • Good user interface
  • It is very easy to get started and doing trades where the exchange supports many online payment methods and cash to hand deals as well.
  • CryptoLocally exchange platform allows instant buying and selling of cryptocurrencies where it used the smart contract powered by EOS blockchain.
  • Lower fees than other platforms
  • Very active team that available live 24×7.

Official website – https://cryptolocally.com/

Create An Account at CryptoLocally

4. Hodl Hodl

Create an account at Hodl Hodl

Trading Fee: 0.6% (0.3% for buyer/ 0.3% for seller)

Bitcoin Withdrawal Fee: None (but you can set a custom transaction fee in sats/byte for receiving bitcoins.)

For both Bitcoin Trading and Withdrawals: KYC is not Required

Hodl Hodl is a global peer to peer (P2P) Bitcoin trading platform that allows users to trade directly with each other.

The Hodl Hodl trading platform provides privacy and security to its users, locking the user’s funds in a 2 out of 3 multisig escrow wallet (on Bitcoin’s own blockchain) during the trade, where the traders control 2 out of the 3 keys to the escrow themselves. Also, this increases security by minimizing the possibility of the bitcoins being stolen, because even if the platform is hacked, the funds will be safely stored in escrow.

Hodl Hodl’s trading platform also reduces trading time because trades happen directly between the user’s wallets. Hodl Hodl does not require any KYC from users, however, users do have the option to do KYC, however, in the future, Hodl Hodl is likely to do away with KYC entirely, not even giving users the option to do KYC.

The main advantage of using Hodl Hodl, rather than other P2P Bitcoin exchanges, is that it does not hold user’s funds, and does not have any of the KYC/AML headaches. Hodl Hodl is also cheaper than most of the other P2P Bitcoin exchanges, as there is no Bitcoin Withdrawal fee and its maximum trading fee is 0.6% per trade.

Hodl Hodl also has their own OTC trading desk that provides users with non-custodial escrow services for trading Bitcoin in large amounts.

The platform was launched in February 2018, and Hodl Hodl has been recognized by many of the biggest media outlets in the world, such as Forbes, Yahoo Finance, Coindesk, CNN, and others.

How to begin?

  1. Create an account at Hodl Hodl
  2. Go to the Trading settings section, and enter your Bitcoin receiving address.
  1. For selling Bitcoin 
    1. Go to the Sell BTC offers section, and select any of the offers from the Bitcoin buyers, or create your own offer to sell BTC.
    2. If you want to accept someone else’s offer, accept the offer, then the contract is created.
    3. Hodl Hodl then generates a unique multisig escrow for every contract.
    4. Deposit your bitcoins in the escrow.
    5. The buyer pays you (the seller) according to the agreed-upon payment method.
    6. Now you (Seller) confirm you have received the buyer’s payment, only after this, you then release the bitcoins from the escrow directly to the buyer’s wallet.
  1. For buying bitcoin
    1. Go to the Buy BTC offers section and select any of the offers from the Bitcoin sellers, or create your own offer to buy.
    2. If you’re accepting someone’s offer, accept the offer and create the contract.
    3. Hodl Hodl then generates a unique multisig escrow for every contract.
    4. Pay the seller, according to the agreed-upon payment method, and let the seller know you’ve done so by pressing the “I’ve sent the payment” button. 
    5. Seller will then release Bitcoin from escrow directly to your (buyers) wallet, after having confirmed your (buyers) payment.
    6. You (Buyer) will get bitcoins at the Bitcoin address set in the Trading Settings section that you had set earlier.

Advantages

  • Anonymity: Global P2P trades without KYC/AML
  • Security: Users have full control over the funds, the trading platform doesn’t hold your funds.
  • Good user interface
  • Lower fees than other platforms
  • It’s very easy to get started, so it’s great for new users.
  • Instant Buying/Selling.
  • Sometimes better than market rates available.
  • Active team with 24hr live support.
  • Local as well as international buyers/sellers.
  • Bitcoin Lightning Network supported (temporarily removed).
  • Good Volume, good Liquidity.
  • Automated trading available through their API.

Official Website https://hodlhodl.com

Create an account at Hodl Hodl

5. BitValve

bitvalve

Trading Fee: 0% (for limited time)

Bitcoin Withdrawal Fee: None 

BitValve is a peer-to-peer cryptocurrency exchange with advanced features. The team of BitValve consists of software engineers as well as blockchain developers from all around the world and the company is registered in the Cypriot jurisdiction.

The developers of BitValve also claimed that they have recognized the burning issues as compared to other peer-to-peer bitcoin exchanges where they developed a robust solution for it that seems to become the gateway for people, especially for the unbanked and underprivileged users, into the realm of the seamless and multifaceted bitcoin world.

In BitValve, they have created their own ERC20 token, called BTV token. Traders will be able to use BTVs as a way to reduce platform commission fees by 50%! 

BitValve team combined all the advantages of the current p2p exchanges and developed a more advanced system by addressing the majority of disadvantages that keep the market from reaching its Full Potential.

For all new users, BitValve P2P Exchange offers ZERO Commission fee, for any trade and/or the payment method. 

Furthermore, in BitValve you can easily buy bitcoin, buy ethereum and many other cryptocurrencies. They support over 200+ Payment methods worldwide, and users can choose any trading pair. For example, someone can buy bitcoin with PayPal or buy ethereum with PayPal instantly, securely and peer to peer!

The BitValve P2P Exchange Platform was also developed in order to utilize all the possible benefits of Decentralized Exchanges as well as to avoid all the possible Disadvantages of the current Decentralized Exchange platforms.

Advantages:

  • 0% Commission on any trade, for all new users! 
  • Multi Cryptocurrency Support (Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ripple)
  • Crypto to Crypto Trading, within the platform.
  • Unique UX and UI designs
  • It’s very easy to get started, so it’s great for new users.
  • Official Mobile Apps
  • Sometimes better than market rates available.
  • Active team with 24h live support.
  • Dispute Resolution at NO cost

Official Website https://www.bitvalve.com/

Create an account at BitValve

6. BISQ

Bisq is an open-source application that provides you the peer to peer trading of cryptocurrencies with your national currency.

It is a decentralized platform where you do not need to create an account. You can buy or sell cryptocurrencies anonymously on Bisq as it provides you good privacy security.

You can start your trading on Bisq in less than 10 minutes, it is really too easy to start trading on Bisq.

How to start?

  1. Download their App
  2. Add your Cryptocurrency account for your country
  3. Create your Buy or Sell offer
  4. Follow the user interface to finalize the trade.

Advantages: Advanced Privacy and Security, provides the best anonymity than others, open-source project, most trusted than others, the best working team, BISQ is the best choice for pro users, No KYC at all, truly decentralized exchange

Disadvantages: a little bit complex for new users, not enough payment methods as others provide, not enough volume

Official Websitehttps://bisq.network/

Important Guidelines For Using Peer To Peer Exchanges

  • First of all, please be careful before doing any p2p bitcoin deal and do some research before doing any deal like check user reviews, user ranking on that exchange because an exchange is not responsible for any loss in p2p deals.
  • You must start with a small amount first and better to buy/sell in a number of trades with normal amounts. Please do not use large amounts in a single trade.
  • Only do cash deals with your knows trusted dealers. As our experience, the cash deals are mostly get trapped as there is a risk of theft of your money and sometimes police also may be involved (corrupted) if there is a large amount deal so please try to use different payment methods.
  • Only deal with users who are most trusted and have a good reputation in history.
  • Don’t be trapped by scammers as they will attract you by giving discount rates than markets. Don’t be greedy.
  • Don’t be fancy, Don’t be clever, Don’t be lazy, Don’t be over-smart, please be an old fashion and simple. Follow the above rules honestly.

Conclusion

You can also use other p2p bitcoin exchanges of your wish but the above exchanges are the most popular and trusted as they providing their services for a long time with good user reviews.

Peer to peer buying bitcoin is the best way as you will get good privacy through this way(if KYC or real identity not provided to the exchange). We prefer everyone to always buy bitcoin through p2p exchanges. We hope you will get good privacy and good security. We request everyone to avoid KYC and please do not give any of your identity to any exchange or to third parties.

Warning: The above-provided exchanges have top reviews from their users. Please do some research from your side before using anything. Cryptocurrency investments are subject to market risk, Bitcoinik is not responsible for any profit/loss.

Also Read: How to Earn Bitcoin? 13 Different Ways to Earn Bitcoin Free