Best P2P Crypto Exchanges In The UK: Top 7 Picks 

The UK is an important player in the global cryptocurrency market. It has a growing number of crypto investors who want to invest and capitalize on the digital assets.

As the cryptocurrency ecosystem in the United Kingdom grows, peer-to-peer ( P2P ) exchanges have also grown because of their advantages and easy usage.

In this article, we will explore what are peer-to-peer crypto exchanges, their advantages, and the top 7 P2P exchanges in the UK. 

What is a Peer-to-peer crypto (P2P) exchange? 

A peer-to-peer ( P2P) crypto exchange is an exchange platform that allows transactions directly between buyers and sellers. There is no middleman in between the transactions.

Unlike traditional exchange platforms, P2P platforms allow users to take control of their transactions directly with each other setting their prices, terms, limits, and payment methods as well.

This decentralized aspect of P2P exchanges offers better flexibility and control to users, making it one of the best options for trading cryptocurrencies for traders who want to customize their transactions as per their needs. In a P2P exchange, the platform is like a marketplace.

Here users get to buy and sell cryptocurrencies on their own or they can take up the offers of other traders as well.

The exchange platform typically offers multiple services and features to users to ensure that the transactions are being done safely and hold cryptocurrencies until both buyer and seller are satisfied with the terms of the transaction. 

Advantages of Peer-to-peer ( P2P ) exchanges

P2P exchanges have multiple advantages for both buyers and sellers as compared to traditional exchanges: 

Greater privacy 

P2P exchanges mostly ask for minimal and basic information from the users in comparison to centralized platforms. There is some level of verification needed by the platform but users generally require a high level of security so this is seen as a plus point.

This advantage is particularly appealing to users who want safe platforms for their cryptocurrency transactions and wish to minimize their digital footprint as well. 

Lower transaction fees

Peer-to-peer exchanges mostly charge lower fees as compared to centralized exchanges.

Because there is no intermediary in between the operational costs are reduced and these savings are given to the users only. Some P2P platforms only charge minimal fees or no fees at all for transactions making it very advantageous for users. 

Multiple payment options 

One of the most known benefits of peer-to-peer exchanges is the multiple modes of payment. Users can easily choose any mode of payment for instance – credit card, bank transfers, cash deposits, online payment systems, or even face-to-face transaction options.

This feature makes it very easy for users to buy and sell their cryptocurrency using any method they like. This option is more effective in places where limited payment methods work. 

More control 

Users have more control over their trades on P2P platforms because there is no middleman to effect the transaction.

Users can choose their mode of payment and directly connect with the buyer or seller. This customization option is not available on centralized exchanges.

Globally accessible 

Peer-to-peer platforms are globally accessible because they have users from around the world. This feature of taking crypto trading to users of different countries with full control and mere fees makes peer-to-peer transactions a better option. 

Difference between P2P exchanges and centralized exchanges

Feature	Peer-to-peer exchanges	Centralized exchanges
Intermediary	No central authority needed	Central authority needed
Transaction process	Directly between buyer and seller	Through the platform
Liquidity	Lower liquidity because users are limited	Increased liquidity as a result of a big user base
Regulation	Less regulated	More regulated
Privacy	Higher privacy due to direct transactions	Low privacy because of centralised data collection
Fees	Lower fees due to reduced overhead	Higher fees because of platform maintenance

Top 7 P2P crypto exchanges in the UK

Here are the top P2P crypto exchanges in the UK: 

1. Exodus

Exodus stands out as a cryptocurrency wallet and platform offering decentralized peer-to-peer trading. This platform is made for both new and experienced traders looking to buy, sell, or swap their tokens.

It is one of the best choices for traders in the UK as it is secure and easy to use. Exodus trading experience allows users to do cross-chain swaps and on-chain swaps providing maximum control along with the safety of users. 

2. OKX

OKX is one of the best peer-to-peer cryptocurrency exchange platforms, boasting an average of $2 billion daily trading volume. It provides a comprehensive P2P marketplace for users for UK crypto users.

It supports multiple currencies and payment methods along with fee-free peer-to-peer trading. If you are looking for a flexible and affordable P2P platform then try this one. 

3. Bitget

Bitget is one of the largest cryptocurrency trading platforms. It has 300 million global users. Bitget is considered one of the best cryptocurrency platforms in the UK as well.

The reason is that it supports multiple fiat currencies and has advanced security measures making it one of the best options. 

4. Gate.io

Gate.io was established in 2013. It is a leading cryptocurrency exchange that includes a secure P2P crypto marketplace for peer-to-peer trading. It has a well-established reputation in the crypto industry and is a good option for traders in the UK. 

5. MEXC

MEXC is a known cryptocurrency platform that has served millions of users since 2018. While this is a peer-to-peer exchange initially it focused on users from Russia, South Korea, and Vietnam.

But it is used in the UK too with limited features. Its security makes it an attractive choice. 

6. Coinbase

Coinbase is one of the leading peer-to-peer exchange platforms. It has a very easy and secure buy and sell process. This platform was founded in 2012 and since then established itself as a top exchange. It is an excellent choice for new investors. 

7. Paxful 

Paxful is another major peer-to-peer cryptocurrency platform. It uses an extensive range of payment methods and supports various cryptocurrencies. This platform is very versatile for peer-to-peer trading. 

Risks and considerations of using P2P platforms 

While P2P platforms have several benefits there are some risks and considerations as well: 

• P2P platforms are susceptible to fraud and scams. So check everything on the platform carefully before choosing one. 
• Sharing personal information on P2P platforms can be risky. 
• If you are meeting someone from a P2P platform then make sure you are prioritising safety first. Choose a public place to meet. 
• Stay up-to-date with laws and regulations regarding trading on P2P platforms. 

Conclusion

The UK’s cryptocurrency space has multiple peer-to-peer exchange platforms, each with unique and advanced features for new and experienced cryptocurrency investors. You can choose any platform according to your needs from Exodus, MEXC, Bitget, Paxpal, and more.

All these exchange platforms have multiple benefits like cross-chain swaps, advanced security, multiple payment methods, decentralized trading, and more.

Make sure you are going through the security measures, payment modes, reviews, and platform usage before selecting one P2P exchange. 

Also, note that cryptocurrency investments are full of risks. And the crypto market is highly volatile and ever-changing. We have shortlisted the top 7 P2p exchanges in the UK for you but you should do your own research as well. Check your investment goals, understand the platform, do your research, and then only invest.