What is P2P Crypto Exchange?
An exchange where Bitcoin can be traded directly with another peer is known as a P2P crypto exchange. Although every crypto trade you make is with another Pakistani, you rarely get to choose who you are trading with; you have to send your funds or digital assets to an exchange platform, you have to pay fees in several different ways, and the payment methods you can use are severely restricted. However, peer-to-peer transactions through P2P crypto exchanges compensate for all these disadvantages.
5 Best P2P Crypto Exchanges in Pakistan
Binance P2P is the largest and very popular peer-to-peer (P2P) exchange that allows users to buy, trade and sell cryptocurrencies through a payment method. You can interact directly with other users on its secure P2P platform, which supports over 300 payment methods and over 70 fiat currencies. Binance Exchange is well known for crypto-to-crypto Trading, i.e., Trading between multiple crypto pairs, and has some of the lowest trading fees of any crypto exchange. Discounts are given to customers who pay with the cryptocurrency token BNB (Binance Coin), and the product is highly liquid.
Capable of processing more than 1.4 million orders per second, Binance offers massive processing throughput thanks to its multi-tier, multi-cluster design and high security and safety standards. More than 600 different coins, including Bitcoin, Litecoin, Ethereum, and its native BNB token, are supported for Trading.
However, in Pakistan, you cannot directly buy bitcoin using your debit card or credit card in finance. But you can use other payment methods to buy Bitcoin, like P2P transactions, to buy BTC within minutes without fear.
Users of Leaderboard: The positions of the top traders on the network may be observed and followed on a website that mixes social networking with Bitcoin trading.
Battle: This “gamification” of bitcoin trading pits traders against one another in a competition to determine who can make the most money in the shortest amount of time.
Cross-collateralization: This popular trading feature lets users use their bitcoin holdings as collateral for loans.
- Supports up to 125 cryptocurrencies
- Very low fees for Trading
- Supports PKR Currency
- No fee for P2P Trading
- 24/7 customer supports
- Trustworthy management
- You cannot buy crypto using your Pakistan local credit/debit card
- Few payment options
OKX (also known as OKEx) is one of the world’s largest crypto exchanges that offers 100+ trading pairs for spot and derivatives. The platform lets you trade the most popular cryptocurrency pairings with on-demand leverage and offers possibilities in both rising and declining markets.
All order kinds, trading tools, automated bot trading, and lowest costs among rivals are available on OKX, allowing you to enjoy the trading experience completely. OKX provides an all-in-one solution for your cryptocurrency trading needs by combining conventional and sophisticated trading tools, a user-friendly interface, and round-the-clock client service. If you wish to control all of your bitcoin activities with a single login, OKX can meet your expectations.
OKX offers p2p features to its users. With the help of OKX’s P2P trading platform, Pakistanis may acquire cryptocurrencies safely and risk-free in minutes.
Peer-to-peer Trading is a platform that enables real-time communication between buyers and sellers. OKX serves as a neutral third party in this situation by adopting an escrow method to keep all transactions secure.
- Offers low trading fees of less than 0.10%.
- Possibilities that have a high-interest rate.
- You can buy crypto easily using your debit/credit card.
- 24/7 customer supports
- Leverage trading
For now, it only supports the fiat currency
Mixed feedback from other users
A well-liked cryptocurrency trading option accessible in Pakistan is ByBit. After being introduced in 2018, ByBit has experienced impressive growth, boasting more than 2.5 million members worldwide. ByBit is expanding very quickly. As a newbie in cryptocurrency trading, it is not suggested to utilize Bybit because the exchange option caters more to seasoned investors. You can skip the KYC verification process to start trading on the Bybit platform. You can directly start using it with your phone number and email. These are ByBit’s benefits and drawbacks.
It offers up to 100x leverage on crypto Trading, such as futures and margins. New traders can practice using Bybit’s platform without risking any real money by utilizing the testnet site. It offers traders of all skill levels an outstanding range of materials, news, and insights.
- Contracts paid in USDT
- Decreased likelihood of price manipulation and liquidations
- Offers high trading volume
This marketplace for trade is uncontrolled
ByBit only offers a few trading pairs.
One of the top platforms for cryptocurrency exchange, Bitget excels in trading derivatives. They provide a wide range of services, including spot trading, copy trading, launchpad, savings, and derivatives trading. The exchange, which has more than 2 million active members in Bitget Copy-Trading and a daily trading volume of USD 5.6 billion, is the leading copy-trading platform in the market for cryptocurrency derivatives. Top traders benefit from great ROI of up to 4,500%.
- Express / Quick Buy selects the quickest choice for you.
- Online Trading (0 Fee) Buy cryptocurrency from trusted sellers.
- Buy cryptocurrency with your local money.
- Low costs for transactions
- More than 150 coins and tokens are available for
- Free copy trading
- Cryptocurrency is the sole withdrawal option.
- The level of customer service must be raised.
One of the most well-known cryptocurrency exchanges in the crypto industry is Kraken, which was established two years after Bitcoin. Kraken provides its customers with a platform with excellent security, more than 50 currencies to purchase, and the option to loan and stake coins at various price points, even though the oldest could be better.
Leverage from Kraken Futures enables you to increase your purchasing or selling power.
Thanks to the new margin mode capability, you can trade using isolated margin to restrict your downside per contract or use cross margin to leverage your collateral across all positions.
- There will always be a variety of cryptocurrencies.
- The stake rewards are many.
- Future Trading for experienced investors
- Lacking investment programs
- No 24/7 customer support
Best Pakistani Crypto Exchanges Should Have These Features
In your hunt for the top Pakistani p2p crypto exchange, you need to consider a variety of things. Just a handful of the most noticeable ones are listed below:
Supported Coin: The top Pakistani p2p cryptocurrency exchanges support at least 20 or 30 different currencies, including all the main ones, like Bitcoin, Ethereum, and Dogecoin. Regularly adding new currencies is a good sign of a forward-thinking exchange because these platforms are more customer-focused.
Fees: Fees (in the form of trading charges and bid-ask spreads) are levied by all p2p crypto exchanges and can differ significantly. To assist you in increasing your profits, I’ve specially selected low-fee platforms below.
Regulations: A well-regulated exchange is far safer to trade on than an uncontrolled one, especially when the markets aren’t going in your favor. Another safety measure certain exchanges provides is depositors’ insurance, which keeps your assets secure even if the platform itself experiences liquidity problems.
Deposit & withdrawal options: To guarantee you can conveniently move money into and out of your account, the exchange you select should have various payment options (bank transfers, debit/credit cards, PayPal, etc.). The better, the more possibilities you have.
Security: A stringent enforcement of several security measures, like two-factor authentication and at least 95% cold storage, is what you should look for in an exchange. Your account is made even safer by additional security features, including daily offsite backups, external security audits, and email confirmations of transactions.
Customer Support: The finest p2p crypto exchanges in Pakistan take pride in having attentive, well-trained support teams who can guide users through any issues that may arise. Pay close attention to the support channels each exchange offers, response times, the completeness and value of their replies, and user comments on the kind of customer service they have gotten.
How to Trade Cryptocurrency on a P2P Crypto Exchange in Pakistan
- Download and Sign in to your Binance App account.
- Verify Your Account
- Buy Crypto P2P Trading
- Select a Trader for Purchasing the USDT
- Receive the USDT
- Send Funds to Seller
- Send the Proof of Transaction
Given the variety of alternatives available and their unique characteristics, picking the best p2p crypto exchange in Pakistan takes time. As cryptocurrency investors, we carefully monitor the activity on Pakistan’s leading p2p exchanges.
Because of its superior degree of security and user-friendliness, Binance is the preferred p2p crypto exchange among savvy Pakistani investors. We can’t suggest Binance enough if you’re searching for a safe, affordable place to purchase and sell cryptocurrency in Pakistan because of its low fees.
Which P2P platform is the best in Pakistan?
Our research shows that Binance is the finest peer-to-peer lending platform in Pakistan, and it is free to use and is governed by the Securities & Exchange Commission of Pakistan.
What are the advantages of P2P crypto exchanges in Pakistan?
Security is one of the key benefits that peer-to-peer crypto exchanges provide. Since all transactions are direct, you may trade cryptocurrencies without depositing money with a centralized third party. Furthermore, as they frequently use established exchange platforms, there is little chance of losing money due to fraud or hacking.
Also, Transactions are frequently quick in P2P crypto exchanges. Usually, the transaction may be finished swiftly once both the buyer and the seller have accepted the contract. This depends on a major payment method, such as an e-wallet or a local bank transfer.
Is peer-to-peer the ideal method for purchasing cryptocurrency in Pakistan?
The finest P2P bitcoin exchanges in Pakistan will provide numerous payment options and cheap transaction costs. A peer-to-peer (P2P) bitcoin exchange has buyers and sellers. Buyers may often buy and sell bitcoin with no fees or charges due.