Best Peer to Peer (P2P) Bitcoin Exchange Platforms in 2021

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Best Peer to Peer Crypto Marketplaces

Are you looking for the best way to exchange Bitcoins? Are you looking for ways of buying and selling Bitcoins easily while using the payment methods you’re comfortable with? Peer to Peer (P2P) marketplaces are the easiest ways to buy and sell Bitcoin in Africa and around the world.

In this article, I am going to compile a list of the best Peer to Peer marketplaces in Africa and around the world where you can buy and sell Bitcoins and other crypto currencies without any difficulties. 

What is Peer to Peer (P2P) Exchanges?

These are platforms that enable users to buy and sell Bitcoin and other Crypto Currencies using a wide number of payment methods, both local and international ranging from Mobile Money, Gift Cards, PayPal, Bank Transfer, MPesa, Chipper Cash, to mention but a few.

The real power of P2P exchanges, however, is that it enables users from all parts of the world to trade with each other in a secure manner.

Regardless of whether you are in Africa, America, UK, Europe or Asia, or anywhere else in the world, you should be able to find someone to trade bitcoin and other crypto currencies with on a P2P exchange.

Best Peer to Peer (P2P) Bitcoin Exchanges

Here is the list of top Peer to Peer Marketplaces you can use to buy and sell Bitcoin in Africa and around the world.

Paxful 

Paxful is the leading Peer to Peer (P2P) marketplace for Bitcoin and other Digital Currencies around the globe, with over 350+ payment methods, you can buy Bitcoin from Paxful.

Paxful is the widely most used marketplace in Africa and it has recorded billions and billions of transactions on the contentintent.  You can use payment methods such as MTN Mobile Money, Airtel Money, MPesa, Gift Cards, PayPal, Bank Transfer, Western Union, Chipper Cash, Eversend and among others. 

You can access Paxful Via the Web and also you can download their Application for Android or iOS

Personally, I love Paxful and I have been using it for over 3 years and I have never faced any challenge while using it. It is easy to use, with a good user interface which is user friendly. Your funds are protected by the escrow system to help you overcome scammers. 

Read: How to Withdraw, Buy and Sell Bitcoins in Uganda.

How to get started with Paxful

  • To begin trading, you have to sign up and verify your account. Your level of verification will determine your trading volume.
  • To buy bitcoin, you will have to set up your search parameters and select your payment method and transactional currency.
  • You can pay for your purchase through bank transfer, western union, skrill, card payments, and more.
  • When browsing the list of offers take note of the rating and reputation, and choose an offer with the terms with agreeable terms.
  • You can discuss the details of the transaction with the seller directly through the platform live chat feature
  • If you are comfortable with the terms of the trade you can go ahead and make the payment.
  • The payment will be processed and the seller will release the bitcoin to your Paxful wallet directly

Local Bitcoins 

This was founded in the year 2012 and it was the most popular P2P exchange in 2017 run-up. It is based in Helsinki. It allows users to create advertisements for buying and selling Bitcoin while setting their prefered payment method. The most popular payment methods used include PayPal, Bank Transfer  and Cash in hand where a vendor can easily meet up with the partner at any local coffee shop. 

How to get started with localbitcoins, 

  • To buy bitcoin on the platform you must first sign up for a LocalBitcoin account. All that is required to set up your account is a username, email address, and password.
  • Proceed to the main page and type in the amount you want to purchase in the local currency, your location, and method of payment, on the search box. From the list of advertisements that appear, select a trader with a good reputation score and a high amount of trades.
  • Click on the ‘Buy tab’ to view more information about the advertisement, including the terms of trade. Review the details before submitting the trade request.
  • To begin the trade, input in the blue box the amount, add a message for the seller and click the ‘Accept terms and send request’ to initiate the trade. Please ensure you make the payment before the window closes or the trade will be automatically canceled.
  • Once the payment has been made, click the ‘I have paid’ tab. Upon verification of your payment by the seller, your BTC will be released from escrow and deposited to your LocalBitcoins wallet.

Remitano 

This was founded in the year 2015 and it boasts over 1.5 million users. It provides a secure and easy way of buying and selling Bitcoins around the globe. They have 24/7 Customer support, low trading fees and an easy User Interface. You can buy and sell Bitcoins on the Platform using your local payment methods.

How to get started on Remitano

  • To start trading, you must register on the platform. You can sign up for a Remitano account using your email address or Facebook account. Before you can start trading you will have to verify the account.
  • The next step is to scroll down the homepage and select a seller from the ‘list of sellers’. Enter the amount of BTC you want to buy and press ‘Buy BTC’ to open the transaction.
  • Please note when inputting the amount of bitcoin you want to buy, you can select whether to have it credited to your Remitano wallet or sent to your personal BTC wallet.
  • To pay for the BTC you will copy the seller’s payment details on the trade page. Remitano provides a limited window for payment so you have to be precise when executing the transaction. The trade will be canceled if the amount or payment reference is incorrect.
  • Upon successful payment click the ‘I have paid seller’ tab and wait for the seller’s confirmation. After the seller has confirmed you will receive the BTC.
  • Remitano charges a 1 percent trading fee and a 0.25 percent exchange fee. You can download the Remitano app on Google Playstore and the Apple store.

Binance P2P

This is the most well known brand when it comes to Crypto. Yes! They understand your needs for P2P and they are here to help you exchange Bitcoins and other digital currencies. They have a wide range of Crypto Currencies to choose from USDT/BTC/BUSD/BNB/ETH/EOS. You can complete your trades with a wide range of payment methods. 

The platform averages $2 billion in trading volumes with over 1.4 million transactions per second. Binance has an extensive ecosystem that consists of several business units like Binance Labs, Binance Launchpad, Binance Academy, and  more. The Binance P2P version allows for direct trades between buyers and sellers.

How to get started on Binance P2P

  • To buy bitcoin on Binance you must first register on the platform. Once you have registered please ensure you complete SMS authentication and Identity verification.
  • Log into your Binance account and select the default currency you want to use to purchase BTC on the top right section of your homepage. Click on ‘P2P’ under the ‘Spot tab’ to access the P2P trading section.
  • Proceed to select BTC on the buy tab. A list of trade advertisements offered by users and merchants will appear on your homepage. You can filter the ads by entering the amount, fiat currency, and payment methods.
  • Scroll the offers until you find the one that meets your requirements. Thereafter click on the ‘Buy BTC’ tab, enter the amount in fiat, and choose the payment method. Initiate the transaction by clicking ‘Buy Now.
  • A new window will appear showing the order details and the seller’s payment information. Copy the payee information to make the payment as instructed.
  • The transaction will be processed outside the Binance platform between you and the seller. Remember to double-check the payment information and complete the transaction within the prescribed time limit.
  • Once the payment is made click on ‘Mark as Paid’ and then ‘Confirm’. The transaction status will be updated ‘To be released’ and the seller will release the BTC after confirming the payment is received. At this point the transaction is complete.

Local Cryptos

This is also one of the leading Peer-to-Peer (P2P) crypto marketplace. The non-custodial bitcoin exchange supports multiple currencies and payment methods such as bank transfers, PayPal, etc. LocalCryptos is available in over 100 countries and serves more than 100,000 traders. The exchange prides itself on offering end-to-end encryption for messages, providing a high level of anonymity between trades.

How to get started with Local Cryptos

  • To buy bitcoin on LocalCryptos you must first sign up and create a username and password.
  • On the dashboard, search for an offer that meets your trade specifications. You can filter the list provided by inputting your requirements on the search bar.
  • Once you find the right offer, you can open a trade. Enter the amount of bitcoin you want to purchase and wait for the seller to place BTC in escrow. Transfer the funds to the seller and select ‘Mark as Paid’. The bitcoin will be released to your wallet.

Coindirect 

This Peer-to-Peer (P2P) Crypto exchanges platform offers exchange for over 40 altcoins and it is one of the best global marketplace for digital currencies. The platform supports trades of up to $1 million and has the widest liquidity pools.

It supports almost all the major currencies in the world such as USD, KSH, UGX, ZMW, RWF, GBP, EUR, UGX, NGN, CAD, ZAR and among others. And it supports a wide range of payment methods around the globe. 

How to get started with coindirect.

  • To trade on the platform you have to sign up for a Coindirect account. Alternatively, you can download the app from the Google Play Store or Apple store and proceed to register.
  • To purchase bitcoin choose a BTC offer from the Coindirect ‘Buy Coins’ page. Ensure you make your local currency payment to the seller’s details displayed within the required time limit, and if necessary, upload your proof of payment.
  • Once the seller confirms the payment, the BTC will arrive in your Coindirect wallet from escrow.
  • While Coindirect does not charge customers marketplace fees, vendors are charged 0.50 percent. Clients with private accounts can apply for a line of credit.

Cryptolocally

This is one of the popular  crypto peer-to-peer exchange platforms. The platform utilises smart contracts for instant P2P transactions and confirmations. Cryptolocally also supports a blockchain-powered escrow service.

How to get started on Cryptolocally

To buy bitcoin on Cryptolocally is a straightforward process. You can create an offer or choose an existing one on the platform. Once you and the seller have agreed on the terms, the seller will transfer the BTC to a secure escrow. Transfer the agreed amount in local currency and confirm the settlement. Once the seller receives the payment confirmation he will release the BTC to your wallet. Cryptolocally charges a 0.99 percent commission fee for every completed trade.

Localcoinswap

This has been found in 2017 with its headquarters in Hong Kong. It doesn’t require KYC (know your customer). In theory, you can remain completely anonymous when using this exchange. However, some sellers require you to show ID if you’re doing a bank transfer.

It has a larger pool of sellers and buyers around the globe with payment methods such PayTM, M-Pesa, WeChat Pay, PayPal, AliPay and among others. 

If you’re buying or selling, it’s free. However, if you’re creating an offer to buy or sell, it’s a 1% fee of completed trade.

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