Using one of the best No-KYC P2P exchanges makes trading simpler because if you use a centralized crypto exchange with KYC requirements, you must go through some hoops while trading a token for another or fiat.
Moreover, buyers and sellers must fill out a form, provide a government-issued photo ID, and present a live photo of themselves, making the process very time-consuming.
Hence, this article will evaluate the best no-KYC P2P cryptocurrency exchanges. You can pick out the ideal trading platform from the list below without the hassle of KYC checks.
Contents
Top 7 Best No-KYC P2P Exchanges in 2024
Binance
This is the best no-KYC P2P exchange. Moreover, it is the largest cryptocurrency exchange in terms of trading volume, processing $26 billion in transactions. It is widely regarded as the premier peer-to-peer and margin trading platform for digital assets because it facilitates transactions between traders worldwide.
These transactions involve various fiat currencies and crypto assets, such as altcoins via spot and P2P trading, as well as futures, options, and margin-based products.
Users can use over 70 fiat currencies to purchase these coins from other traders or liquidate their holdings.
Trading cryptocurrencies with another person or business through the Internet can cost more or less than traditional methods, depending on the fiat money utilized. With Binance, your trading costs can be as low as 0% and as high as 0.35%.
You pay a minimal maker fee of 0.35% when transacting in US dollars but nothing when dealing in Euros or Pounds. Those that publish a buy/sell ad are considered makers. There are no transaction costs while using this P2P marketplace to buy or sell cryptocurrency through existing advertisements, also known as a taker.
P2P trading is based on the idea that buyers and sellers can negotiate directly without needing a central market or intermediary, resulting in lower transaction costs.
Suppose you want to sell your cryptocurrency at a price that’s more favorable to you. In that case, you’ll need to enroll in the Binance P2P Merchant Program, which is one of the many reasons Binance is widely regarded as the best P2P crypto exchange overall. This program grants you access to benefits like discounts, priority service, verified badges, gift cards, and additional safeguards for new users.
| P2P Fees | 0% to 0.35% |
| Supported Coins | USDT, BTC, BUSD, BNB, ETH, DOGE, DAI |
| Pricing System | Trader based |
Pros
- Easy-to-use
- Low fees
- The largest exchange in terms of trading volume
Cons
- The US version is not so good
Official Website: https://www.binance.com
Bybit
Bybit is widely regarded as one of the best no-KYC P2P crypto exchanges available today. In addition to its P2P platform, it enables users to stake their cryptocurrency in exchange for guaranteed yield. When you stake USD Coin, you are eligible for an annual percentage yield of 5.50%.
Since the Bybit P2P cryptocurrency platform only supports transactions in Tether, it has fewer functionalities than other similar platforms. You can conduct business in various fiat currencies; however, the list of supported currencies is not very extensive.
When making a purchase using the P2P network, customers can access various payment options and won’t be charged any transaction fees. Nevertheless, there are some restrictions, and these limitations vary based on the conditions imposed by the seller.
Bybit provides various other cryptocurrency products, including spot trading against USDT, BTC, USDC, and DAI. Additionally, the platforms facilitate trading in cryptocurrency derivatives, such as futures, options, and perpetual contracts.
Tools offered by Bybit for DeFi mining, liquidity mining, staking, and harvesting can also be of interest to more advanced users. Additionally, Bybit Savings provides guaranteed dividends on some of its cryptocurrency holdings.
| P2P Fees | 0% |
| Supported P2P Coins | USDT |
| Pricing System | Trader based |
Pros
- Low trading fees
- Mobile and web interface
- Over 80 payment methods
Cons
- Limited trading pairs
Official Website: https://www.bybit.com
OKX
When talking about the best no-KYC P2P exchanges, we can’t forget OKX. It is a regulated no-KYC decentralized exchange that allows users to trade over 340 cryptocurrency coins without incurring fees. It also has one of the best cryptocurrency trading apps for users on the move.
2024 will see OKX as the best peer-to-peer cryptocurrency exchange, allowing users to freely set the exchange rate for USDT, USDC, BTC, ETH, TUSD, and DAI.
The variety of available payment options makes OKX stand out, where P2P traders also have access to over two dozen fiat currencies, each of which can be traded using a different set of banks or payment mechanisms.
OKX accepts deposits via bank transfer, credit/debit card, and several popular e-wallets, giving traders a lot of flexibility when opening a new trading account. Traders can keep any cryptocurrency they acquire through the P2P trading network in a secure location by using the OKX mobile app’s integrated crypto wallet.
Furthermore, OKX facilitates the discovery of orders worth pursuing for traders curious about ongoing P2P transactions. You can select the filters on the exchange based on the users a trader is following, the coin used, and the order size.
| P2P Fees | 0% |
| Supported Coins | USDT, USDC, BTC, ETH, TUSD, DAI |
| Pricing System | Trader based |
Pros
- Low fees
- Easy navigation
- Various cryptocurrency pairs present
Cons
- Poor customer support
Official Website: https://www.okx.com
Huobi
Huobi is also widely regarded as among the finest no-KYC P2P exchanges in the industry. Based on its current daily trading volume of $3.4 billion, it ranks as the ninth largest cryptocurrency exchange globally.
Users who have an account with Huobi have access to peer-to-peer trading on USDT, BTC, ETH, and HT (Huobi Token). They can conduct business in approximately 50 different currencies from all over the world. In addition, there are no fees charged for commissions for either the makers or the takers of transactions.
Huobi’s P2P Bitcoin exchange users have access to customer service around the clock, seven days a week. This level of customer support can be difficult to find in the P2P cryptocurrency arena. Still, it is beneficial if transactions fail or are stalled.
Moreover, Huobi gives customers the option to conduct business in a wide variety of fiat currencies and gives them access to approximately one hundred different payment methods.
The peer-to-peer cryptocurrency platform is intuitive and user-friendly, giving users access to various cryptocurrency services, including spot and margin trading.
| P2P Fees | 0% |
| Supported Coins | USDT, BTC, ETH, HT |
| Pricing System | Trader based |
Pros
- Various cryptocurrencies present
- The reward system is great
- Ideal for beginners
Cons
- Doesn’t support fiat transactions
Official Website: https://www.huobi.com
Hodl Hodl
In addition to being one of the top P2P cryptocurrency exchanges, Hodl Hodl does not require a user to provide any personal information before making a trade and is therefore used in many countries.
Direct Bitcoin transactions between buyers and sellers are possible. As a result, the platform doesn’t have to keep any of your money on hand while the trade is in progress. Instead, multi-signature contracts secure the funds.
The seller will often kick things off by sending Bitcoin to the multi-sig Bitcoin address. Locked cryptocurrency is unlocked once fiat currency is sent from the buyer to the seller.
There is no need for a Know Your Customer process for users to make trades, albeit this has some limitations. During the signup procedure, all that is required from you is an email address. Users retain full control of their funds in a multi-signature wallet.
For first-time traders, the commission rate is 0.6%. A 0.55% fee is added to all purchases made by new customers who signed up using a referral code. The referral fee drops to 0.55% for those who bring in at least one new client. Those who take the time to prove their identification on Hodl Hodl will be eligible for a 0.5% trade discount.
| P2P Fees | 0.6% |
| Supported Coins | BTC, DAI, ETH, BNB, USDT, USDC |
| Pricing System | Trader based |
Pros
- P2P works flawlessly
- Easy to use
- Secure
Cons
- Few payment methods
Official Website: https://hodlhodl.com
WhalesHeaven
When it comes to P2P cryptocurrency exchanges that don’t require user identification or verification, WhalesHeaven is among the finest. You can buy or sell any cryptocurrency without providing personal information or undergoing the KYC process. It’s a decentralized market where digital assets can be bought and sold without needing a third party to verify the user’s identity.
In contrast to other marketplaces, WhalesHeaven enables its customers to use a payment method of their choice while purchasing cryptocurrency, making it unique.
WhalesHeaven users can acquire crypto assets, begin trading, utilize peer-to-peer trading functions, trade anonymously, and buy and sell Bitcoin without incurring high transaction costs.
Cryptocurrency enthusiasts can buy and trade digital assets, including Bitcoin, Ether, Litecoin, Dogecoin, BNB, stablecoins, AVAX, Axie, SAND, and many others on WhalesHeaven.
As a “custody-free” exchange, WhalesHeaven does not store its customers’ cryptocurrency or fiat money, making it a terrific option if you’re a trader sick of paying exorbitant costs because the trading fee is so low. It does not charge withdrawal fees or cap your daily trading volume.
Multisig wallets are used during the trading process to provide users with an additional level of decentralized security.
| P2P Fees | 0% |
| Supported Coins | BTC, LTC, BCH, DOGE, ETH, BNB, SAND |
| Pricing System | Trader based |
Pros
- Various payment methods are available
- Low fees
- Easy withdrawals
Cons
- The user interface could have been better
Official Website: https://www.whalesheaven.com
Remitano
Remitano is a global decentralized cryptocurrency exchange with a brilliant P2P platform connecting buyers and sellers directly. It is equipped with an escrow service to reduce the possibility of fraud further.
The trading site only supports a small subset of cryptocurrencies, mostly the big ones. The minimum amount to transact on Remitano has been decreased to $0.25, allowing users to post classifieds for items they are willing to sell or purchase for as little as that amount.
People interested in cryptocurrency are not required to verify their identities to use Remitano’s functions, but this comes with a catch.
The catch is that without proving their identity, they can only make one trade daily worth up to 100 USDT. But getting started with Remitano is easy; you only need a phone number.
Those who wish to trade more frequently are required to prove their identities. Remitano has a transaction fee of 1% for receiving and sending funds.
| P2P Fees | 1% |
| Supported Coins | Bitcoin, Ethereum, Bitcoin Cash, Litecoin, USDT, and Ripple |
| Pricing System | Trader based |
Pros
- Strong user base
- Quick transactions
- Easy to navigate
Cons
- Not ideal for beginners
Official Website: https://remitano.com
P2P Exchanges Comparison
| Crypto Exchange | P2P Fees | Supported Coins | Pricing System |
| Binance | 0 to 0.35% | USDT, BTC, BUSD, BNB, ETH, DOGE, DAI | Trader Based |
| Bybit | 0% | USDT | Trader Based |
| OKX | 0% | USDT, USDC, BTC, ETH, TUSD, DAI | Trader Based |
| Huobi | 0% | USDT, BTC, ETH, HT | Trader Based |
| Hodl Hodl | 0.6% | BTC, DAI, ETH, BNB, USDT, USDC | Trader Based |
| WhalesHeaven | 0% | BTC, LTC, BCH, DOGE, ETH, BNB, SAND | Trader Based |
| Remitano | 1% | Bitcoin, Ethereum, Bitcoin Cash, Litecoin, USDT, and Ripple | Trader Based |
FAQs
Like other P2P exchanges, P2P crypto exchanges connect buyers and sellers via the internet to transact in crypto. The finest peer-to-peer crypto exchanges will provide minimal transaction costs and multiple payment options.
Customers and vendors interact in a peer-to-peer crypto market. In most instances, buyers and sellers of crypto don’t have to deal with transaction fees or commissions because after posting an ad, the seller will typically be required to pay a fee to the exchange upon successful completion of the sale.
Customers have a wide variety of options for both payment and currency (fiat) in this type of trade. Since sellers can set the price and quantity of crypto they supply, they also enjoy a great deal of autonomy.
P2P crypto exchanges allow cryptocurrency traders to transact at any price they see fit.
Of course.
One of the safest ways to buy crypto without KYC checks is through P2P or peer-to-peer trading. Since these marketplaces do nothing more than link consumers and vendors, they are considered only as a medium.
Whether or not P2P crypto transactions are preferable to OTC exchanges is highly contextual and dependent on the market itself. P2P crypto typically provides cheaper transaction costs, more payment options, and the flexibility to trade at your chosen price.
Binance is the best peer-to-peer cryptocurrency exchange since it is the biggest cryptocurrency exchange and has the most diverse selection of cryptocurrencies, fiat currencies, and payment methods on its network.
Final Words
P2P crypto trading gives buyers and sellers more freedom when transacting with cryptocurrencies. The idea facilitates a personalized approach to purchasing and selling digital currency by allowing individuals to determine their price, quantity, and payment methods.
The user should consider more than just the absence of KYC verification requirements when deciding on the best peer-to-peer cryptocurrency exchange. Considerations, including the trading costs and security measures, also play a role in the success of a cryptocurrency exchange. Doing your homework before deciding on an exchange that best suits your needs is prudent.
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Thank you for sharing your view on these best exchanges. I will also add the Crypton Exchange from the Utopia p2p to this list. No one can restrict access to the Crypton Exchange or get any user data.