Peer-to-peer (P2P) cryptocurrency exchanges allow traders to buy and sell digital money without the need for an intermediary, such as a bank. 

The P2P cryptocurrency exchanges network authorizes every crypto trade to avoid duplication of transactions. 

The best P2P crypto exchanges offer a number of options for buying cryptocurrencies. In this article, we'll discuss the top and best cryptocurrency exchanges for P2P trading.  

The cryptocurrency has the potential to skyrocket in value, and the volatility of the cryptocurrency markets has attracted a majority of investors and traders in recent years. 

The same volatility factor makes it a riskier investment than Stocks and Forex. However, it has also contributed to its ever-increasing success. 

Which are the Best Cryptocurrency Exchanges for P2P Trading

If you're searching for the best cryptocurrency exchanges for P2P trading, here are the top 5 platforms you should consider.

Binance: 

Binance is the most popular P2P trading platform for cryptocurrency exchange, offering over 60 types of currencies, including Dogecoin, Litecoin, and Chainlink. 

Unlike other exchanges, Binance doesn't charge any fees for P2P trading. However, there is a maker fee of up to 0.35 percent.

All these features make it the largest P2P Trading platform, where you can choose from a broad range of cryptocurrencies. 

To get started on Binance, you'll need to open an account by clicking on the 'Get Started' button on the homepage. Now, follow all the instructions and verify your identity by uploading documents. 

InvestBy: 

InvestBy is emerging as the best P2P cryptocurrency exchange in India. The platform has made a huge client base in such a short time because of its large pool of currencies offering, best-in-class customer services, and advanced trading platforms. 

The customer service staff is exceptionally quick and responsive, which is a plus point for traders trading in such a volatile market. 

In addition, the broker also offers a commission-free trading experience to all its clients. To open an account on InvestBy, first, you'll need to click on the 'Open Account' button on the homepage. 

Now, provide your personal information such as first name, country code, country of residence, email address, etc. 

After this, you'll need to go through the verification process. For this, you'll need to upload a copy of your government-issued identity card. 

As you are done with the account opening process, fund your account and start trading in over 30 cryptocurrencies. 

LocalCoinSwap: 

The intuitive and advanced platforms offered by LocalCoinSwap is the main reason for listing this platform on our list of best Cryptocurrency exchanges for P2P trading. 

In addition, the brokerage platform offers secure data transfers. The platform's user-friendly interface is best for both novice and professional traders. The traders are subject to two types of fees: 1% (Trading Fees) and 0.00045 Bitcoin per withdrawal.

Paxful:

The US-based Paxful is one of the top peer-to-peer cryptocurrency exchanges. It claims to make all P2P trades as simple as possible while maintaining the highest level of security. 

Users' biometric data as part of the verification process increases transaction security. Paxful charges fixed fees for a variety of trading instruments, but buying cryptocurrency is always free. 

The platform's registration process is simple and fully digital. Traders must upload identification documents for account verification.

After your account has been authenticated, you can use this user-friendly platform to fund your wallet.

WazirX: 

WazirX is a peer-to-peer cryptocurrency exchange in India that allows users to trade in a broad range of cryptocurrencies. 

While many people think of WazirX as India's most trustworthy P2P crypto exchange, Binance actually bought it in November 2021. 

The platform's 24-hour trading volume was $153 million as of December 2021. This demonstrates that the P2P platform has lots of liquidity, allowing users to conduct trades with ease. 

WazirX, unlike other top P2P crypto exchanges, exclusively enables the purchase and sale of USDT and no other stablecoins. 

The platform offers eight different fiat currencies, ranging from Indian Rupees to US Dollar, and it costs 0% maker and taker fees.

Conclusion: 

Above, we have listed out all the popular and best cryptocurrency exchanges for P2P trading, hope this will help you in making an informed decision. 

Apart from this, we have also mentioned all the features and drawbacks of these exchanges for better understanding. However, if you would like our recommendation and advice, then InvestBy and WazirX are the top market makers in the P2P trading segment. 

That's all! Now, we're wrapping up this topic here. Of course, the one thing that makes crypto investments so attractive is the market volatility. But have you ever heard about low volatile penny cryptocurrencies?

These are the altcoins that can be bought for less than $1. Penny cryptocurrencies have emerged as a great investment vehicle in recent years. 

Traders earn profits from a minor price change of these less volatile altcoins. Of course, you can also invest in them, but first, look at the top 10 penny cryptocurrencies to invest in 2022.