This guide helps users to find the best P2P crypto exchanges in UAE. P2P exchanges are gaining in popularity among UAE investors allowing them to trade directly with each other. They eliminate the need for a middleman (third-party facilitator), resulting in lower fees and potentially higher returns. The growing number of reliable and scam exchanges in the United Arab Emirates makes choosing the ideal option for individual needs challenging.
For investors to select the ideal service, they need to be aware of nontransparent providers and understand the unique features of platforms, keeping in mind that they are not protected in case of the exchange’s bankruptcy. To help investors make an informed decision, we have reviewed and compared essential information to select the ideal P2P cryptocurrency exchange in UAE.
This guide evaluates, compares, and reviews 35 exchanges available in UAE to help users find the ideal platform for their needs. The highest-rated P2P exchanges in UAE are listed below, followed by in-depth reviews, comparisons and FAQs.
Top 5 P2P Crypto Exchanges in UAE
- Binance – Best P2P Crypto Exchange Overall
- OKX – Lowest Fees P2P Exchange
- Huobi – Best P2P Exchange For Mobile
- Bybit – Best For Fixed Yields
- Kucoin – Best P2P Exchange For Altcoins
The 5 Best P2P Crypto Exchanges in UAE Reviewed
The highest rated P2P exchanges in UAE are reviewed in more detail below.
1. Binance P2P – Best P2P Crypto Exchange Overall
2. OKX P2P – Lowest Fees P2P Exchange
3. Huobi P2P – Best P2P Exchange For Mobile
4. ByBit P2P – Best For Fixed Yields
5. KuCoin P2P – Best P2P Exchange For Altcoins
How To Choose The Ideal P2P Exchange in UAE?
Criteria for finding the ideal P2P crypto exchange in UAE are listed below.
- Reputation (regulatory compliance (licenses), security, number of users, positive users feedback and non-hacked history record)
- Number of Cryptocurrencies (number of digital assets available to trade on the P2P exchange)
- High Liquidity (high trading volume allows lower pricing and reliable trade execution)
- Variety Of Payment Options (preferred payment methods should be supported)
- Fees ( exchanges with low transaction fees should be preferred)
- Effective Dispute Processing
Top P2P Crypto Exchanges Compared
Key features of the top rated P2P exchanges in UAE are compared in the table below.
|Feature||Binance P2P||OKX P2P||Huobi P2P||ByBit P2P||KuCoin P2P|
|Nr. of Coins Supported||700||6||6||4||4|
|P2P Trading Fees||0,10% per trade||None||None||None||None|
|Nr. of Fiat Currencies Supported||100+||100+||100+||40+||60+|
|Nr. of Payment Methods Supported||100+||900+||150+||100+||100+|
|Free ad posting||Yes||Yes||Yes||Yes||Yes|
|P2P Trading Educational Material||Video tutorials, explainer blog posts||Video tutorials, explainer blog posts||Video tutorials, explainer blog posts||Video tutorials, explainer||Video tutorials, explainer|
What Are P2P Crypto Exchanges?
Peer-to-peer (P2P) crypto exchanges are online trading platforms that enable users to trade cryptocurrencies directly between each other. Most cryptocurrency exchanges have a built-in P2P marketplace where users can buy and sell, interact, and trade with each other. Additionally, these exchanges provide detailed information about users, making it easy for them to check the legitimacy of one another.
P2P Exchanges Vs Decentralized Exchanges
Both decentralized exchanges and P2P exchanges provide a high level of privacy when it comes to financial transactions. Transactions on decentralized exchanges take place directly on the blockchain instead of on a centralized server. In most cases, these transactions use smart contracts to be executed automatically and at the right conditions.
On the other hand, P2P exchanges operate as a peer-to-peer network allowing traders to trade directly with each other. Exchanges usually use an escrow service to secure the funds until the transaction is finalized from both sides.
Benefits of Using P2P Exchanges
The benefits of using P2P exchanges to trade with cryptocurrencies are listed below.
- Privacy – P2P crypto exchanges allow users to exchange cryptocurrencies and fiat currencies without revealing their identities. This increases the level of privacy trading on the crypto markets.
- Vast Coverage of Payment Methods – P2P exchanges provide users with the ability to buy, sell or withdraw cryptocurrencies on a vast range of payment methods, including bank wire transfers, e-wallets, and voucher services. Regular cryptocurrency exchanges normally accept a handful of payment methods.
- Personalized Rates – P2P crypto exchanges allow users to trade digital assets at their own rates. Users can set and manage their own pricing and other conditions in the buy and sell ads of the exchange allowing other users to see their trading terms.
- Lower Trading Fees – P2P exchanges charge overall lower transaction fees than regular exchanges.
- Great Number of Buyers and Sellers – P2P exchanges often have large user communities resulting in a high trading volume, liquidity and reliability of trade execution.
What Are The Risks Associated With P2P Exchanges
The most significant risks of using P2P cryptocurrency exchanges are listed below.
- Uncontrolled Interaction Between Users – P2P exchanges allow users to interact with each other through a live chat feature, which increases the potential of scams and ripoffs.
- Transaction Timeout Feature – peer-to-peer platforms often contain a transaction timeout feature, meaning that if a transaction isn’t finalized within a certain timeframe, it will be canceled.
- Advanced Trading Interface – P2P exchanges are self-service based and require previous knowledge and experience to avoid costly mistakes. The most common mistakes include selecting the wrong wallet address, cryptocurrency or wrong amount of (crypto)currency.
- Price Volatility – price volatility of cryptocurrencies require P2P users to double-check the current prices before agreeing on a transaction and finishing transactions in a timely manner.
- Lower Trading Volume – P2P crypto exchanges have lower trading volume than regular exchanges and come with less liquid. This decreases trade execution reliability.
- Trading Interface – more complex trading interface of P2P exchanges makes it harder for users to get started confidently.
Trading and investing with cryptocurrencies is a great way to achieve financial gains, portfolio diversification, or regular monthly income. However, with the growing number of exchanges in the UAE, potential traders must compare and evaluate essential information to choose the ideal service for their needs.
This guide works hard for our readers to keep them safe and informed by comparing, evaluating, and reviewing the services of different exchanges. Scams and unreliable offers have been filtered to help users make informed decisions. Our analysis results in a list of the best P2P crypto exchanges in UAE, which is summed up in the table below.
|Exchange||Overall Score||Best For||Fees (Maker/Taker)||Spot Volume (BTC)|
|#1||Binance P2P||4.9||Best overall exchange||1%/1%||$2,739,612|
|#2||OKX P2P||4.8||Best for Low Fees||0.10%/0.02%||$89,000|
|#3||Huobi P2P||4.8||Best for security||0.04%/0.05%||$36,500|
|#4||ByBit P2P||4.7||Best for fixed Yields||0.08% /0.1%||$806,899,070|
|#5||KuCoin||4.6||Best for Altcoins||0.1% /0.1%||$53,964,331|
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