The trade-off is privacy; some users may prefer less KYC. As an advanced user, you would strive for 100% or close to it in positive feedback to indicate trustworthiness. On the other hand, Binance and similar platforms do not offer a public rating score in the same manner, but they display statistics such as the number of completed orders and the completion rate percentage. After each transaction, you can rate your partner positively or negatively and leave a brief review. This process gradually creates a reputation score. If anonymity is a must, decentralized options (like HODL HODL, Bisq) exist, but with far lower liquidity. Paxful and formerly LocalBitcoins depend significantly on user feedback ratings.

Crypto Trading Tutorial

Enormous liquidity and user base, making it easy to find buyers/sellers even for large amounts. Supports dozens of fiat currencies. Binance P2P operates under Binance’s KYC and regional restrictions; regulatory crackdowns in some countries mean the service isn’t accessible everywhere (e.g., Binance has faced bans in certain jurisdictions). No direct trading fees for most P2P trades. Strong escrow service and dispute resolution backed by Binance’s support team. If you adored this information and you would certainly such as to obtain additional details relating to Molly Tony It – https://www.pipihosa.com/2023/11/20/argentinas-election-what-bitcoiners-are-getting-wrong/ – kindly go to our website. A variety of payment methods.

Crypto Trading Sites

Users can trade common stablecoins like USDT and USDC, as well as Bitcoin and Ethereum, through the P2P desk. For professional traders, CoinEx P2P offers several notable features. The platform requires P2P merchants to place a security deposit and adhere to strict rules, which helps reduce fraud; if a merchant misbehaves, their deposit can be seized to compensate the victim. In practice, you’ll find options ranging from bank wires and AliPay/WeChat (popular for CNY trades) to Western Union and various local payment apps. This extensive payment support aims to position CoinEx on par with Paxful or Binance in terms of flexibility. One of CoinEx’s notable features is supporting over 300 payment methods for P2P trades.

Additionally, OKX P2P provides an extensive selection of payment methods, with more than 900 options available globally. For instance, the platform includes filtering tools to sort offers by price, payment method, region, and more, similar to Binance. This wide array of payment options is particularly valuable for professional traders operating in multiple regions or seeking specific local payment channels. Beyond the basics, OKX provides several advanced features that appeal to experienced users. It also integrates with the larger OKX ecosystem – the exchange offers trading bots and yield products, though those are beyond the scope of P2P. Whether you need SEPA or SWIFT bank transfers, mobile wallets, or services like Revolut and TransferWise, OKX has you covered.