Consider account security, exchanges like Bybit require P2P traders to enable two-factor authentication and facial recognition for certain actions, adding a layer that complicates impersonation in P2P trades. SMS/email confirmation for escrow releases can prevent social engineering attacks for large trades. Escrow is crucial – never trade off-platform, regardless of a deal’s appeal, as you lose your safety net. Some platforms allow a secret PIN for P2P releases. Binance and others also mandate 2FA for P2P transactions and withdrawals.

Tradingview Crypto Screener

Users can buy or sell major cryptocurrencies (such as BTC, ETH, USDT, and BNB) directly with one another, with transactions protected by Binance’s escrow service, which holds the cryptocurrency until the fiat payment is confirmed. With Binance’s strong brand reputation and an average daily trading volume exceeding $5 billion across all its services, there are plenty of counterparties available for large P2P trades. The platform interface is integrated into Binance’s main – www.pipihosa.com – website and app, providing users access to advanced filtering tools. For professional traders, the most significant advantage of Binance P2P is its substantial liquidity and market reach.

Limited cryptocurrencies (primarily BTC and stablecoins) , so not suitable if you need altcoins via P2P. Paxful had a hiccup in operations in 2023, raising concerns over platform stability, but it has since stabilized. Overall liquidity can vary by region – in major markets, there’s plenty of activity, but obscure payment method trades might take time to find. The open marketplace model means potential for scammers – you must vet counterparties and be cautious, especially with reversible payment methods (Paxful’s rating system helps, but new traders could be at risk). BingX is a rapidly growing crypto exchange known for its social and copy trading features.

This allows traders to sort offers by price, payment method, region, and more to find the best deals. Notably, Binance P2P does not charge any fees for many popular trading pairs, allowing both makers and takers to transact at the posted prices without incurring extra charges. Additionally, Binance P2P supports a variety of payment methods, including bank transfers, e-wallets like Skrill, cash deposits, and more, making it convenient to find a suitable payment channel. This fee-free model is advantageous for high-volume traders, as Binance generates revenue from ads and spreads instead.