Best P2P Crypto Exchanges in UAE (2023)

Page Summary

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

  1. Binance – Best P2P Crypto Exchange Overall
  2. OKX – Lowest Fees P2P Exchange
  3. Huobi – Best P2P Exchange For Mobile
  4. Bybit – Best For Fixed Yields
  5. 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

binance-logo

Rating: 4,8/5

Min Deposit:

Fees: 4.8

Assets available: 5.0

Total Fees:

Binance P2P is a built-in peer-to-peer marketplace that allows users to buy and sell cryptocurrencies directly between each other. The platform charges low fees ( 0,10% per transaction). It supports over 700 coins and 100 fiat currencies for peer-to-peer trading on its platform.

Apart from peer-to-peer trading, Binance P2P allows users to participate in staking, lending, liquidity farming, mining, saving, and NFT trading. The platform also features a vast library of P2P trading educational materials in the form of blog posts and tutorial videos.

Binance P2P accepts a wide variety of payment methods, including bank wire transfers, e-wallets like PayPal, Neteller, and Skrill, and even gift vouchers.

Binance is licensed and regulated by regulators in several jurisdictions, including the United Arab Emirates, with a Financial Services Permission from the Abu Dhabi Global Market’s Financial Services Regulatory Authority (FSRA).

Binance customer support is available 24/7 through email and live chat.

Binance P2P Key Features:

  • Over 700 cryptocurrencies and 100 fiat currencies supported
  • Multiple payment methods supported, including local ones
  • Modern, intuitively designed peer-to-peer marketplace
  • Block and Express features available for USDT trades
  • Low trading fees (0,10% per transaction)
  • Extensive P2P Trading Educational Material in the form of video tutorials and textual guides

2. OKX P2P – Lowest Fees P2P Exchange

OKX logo

Rating: 4,9/5

Min Deposit:

Fees: 4.9

Assets available: 4.9

Total Fees:

OKX P2P is a peer-to-peer crypto marketplace built into the OKX platform that enables users to trade cryptocurrencies and fiat currencies directly with each other. The following currencies are currently supported on the platform: USDT, USDC, BTC, ETH, TUSD, and DAI. OKX doesn’t charge any fees or commissions for peer-to-peer trading. Furthermore, it allows users to determine their own rates.

Crypto 2.0 products that are available on the OKX P2P platform are listed below.

  • Staking
  • Lending
  • high-yield savings accounts
  • NFT

The OKX Learning Centre features extensive educational materials, including demo trading accounts, trading bot tutorials, and technical analysis guides.

OKX is not regulated. With over 50 million users worldwide and a great number of positive reviews, OKX has a great reputation in the industry.

OKX customer support is available through email, live chat, and the self-serviced support centre  24/7.

OKX P2P Key Features:

  • 6 cryptocurrencies supported, including BTC, ETH, and USDT.
  • No peer-to-peer trading fees or commissions
  • Over 100 supported fiat currencies and 900+ payment methods
  • Free ad posting
  • P2P crypto trading video tutorials and explainer blog posts

3. Huobi P2P – Best P2P Exchange For Mobile

htx

Rating: 4,8/5

Min Deposit:

Fees: 4.8

Assets available: 4.7

Total Fees:

Huobi P2P is a commission-free marketplace integrated into the Huobi platform allowing users to trade cryptocurrencies directly between each other. The platform supports over 100 fiat currencies including USDT, BTC, USDD, HT, TRX and ETH. Huobi users are allowed to determine their own rates.

Huobi P2P platform features a variety of security features including Advertiser Verification and Facial Recognition verification to enhance users safety and security.

The following crypto 2.0 products are available on the Huobi P2P platform besides digital currencies.

  • Staking
  • Lending
  • Dual-investing
  • NFT

P2P trading education on Huobi is available through Huobi Live, Huobi Learn, and Huobi Blog sections.

Huobi is an unregulated cryptocurrency exchange. With over 10 Million users worldwide and number of positive user reviews it has a great reputation among traders. Their customer support is available through email, live chat, the Huobi Community Forum and its self-serviced Support Centre.

Huobi P2P Key Features:

  • 700+ tradable cryptocurrencies and over 100 payment methods supported
  • No peer-to-peer trading fees or other hidden commissions
  • Free ad posting
  • 24/7 customer service
  • Platform scans every transaction for fraud automatically

4. ByBit P2P – Best For Fixed Yields

Bybit logo

Rating: 4,6/5

Min Deposit:

Fees: 4.6

Assets available: 4.8

Total Fees:

ByBit P2P is a peer-to-peer marketplace allowing users to buy and sell major digital assets (Bitcoin, Ethereum, Tether and others) to and from each other. ByBit doesn’t charge any maker/taker fees on peer-to-peer crypto trades. It supports more than 40 fiat currencies, including EUR, USD, and JPY. This allows ByBit to offer fixed rates and yields to its users.

ByBit P2P allows users free ads to engage with other users about their exchange interests. Users are also allowed to set their own rates and determine their desired payment method(s). ByBit acts as an escrow service between buyer and seller, only releasing funds when both parties have met all trading conditions.

Crypto 2.0 products that are available on ByBit beside cryptocurrencies are listed below.

  • ByBit crypto wallet
  • NFT trading
  • Savings
  • Liquidity Mining
  • Dual Asset investing
  • Lending

Guidance and education on P2P trading is available through ByBit’s Learn centre, the general Help Centre and a vast series of FAQ pages.

ByBit is not regulated. With over 15 million users worldwide and a number of positive reviews,ByBit is a reputable and trustworthy P2P exchange. Although ByBit’s P2P marketplace is mostly self-serviced, customer support is available through email and live chat.

ByBit P2P Key Features:

  • 4 Cryptocurrencies and over 40 fiat currencies supported
  • No peer-to-peer trading fees or other hidden commissions
  • Free ad posting
  • 24/7 customer service
  • Over 100 payment methods supported

5. KuCoin P2P – Best P2P Exchange For Altcoins

Kucoin logo

Rating: 4,1/5

Min Deposit:

Fees: 4.7

Assets available: 4.9

Total Fees:

KuCoin P2P is a peer-to-peer marketplace within the KuCoin crypto exchange with support for the following cryptocurrencies: USDT, BTC, ETH, KCS, and USDC. These can be bought and sold using 60 different fiat currencies and more than 100 payment methods, including wire transfers, gift vouchers and, e-wallets. Users can verify their identity and undergo KuCoin’s KYC procedure to get a Verified User badge.

Crypto 2.0 products that are available on KuCoin P2P beside cryptocurrencies are listed below.

  • Staking
  • Lending
  • Savings
  • Mining
  • NFTs (including fractional NFTs)
  • Liquidity Mining

KuCoin’s P2P marketplace offers a variety of guidance and educational materials with answers to the following topics: how to become a seller, how the peer-to-peer platform works in general, and how to set up automatic peer-to-peer crypto trades. The KuCoin platform offers a variety of payment methods and fiat currencies through their partners including Simplex, Banxa, and BTCDirect.

KuCoin is an unregulated cryptocurrency exchange. With over 20 million users worldwide and a great number of positive user feedback, KuCoin is a reputable and trustworthy P2P exchange.

KuCoin’s customer support is available via live chat and email 24/7.

KuCoin P2P Key Features:

  • 4 Cryptocurrencies and 60 fiat currencies supported
  • No commissions or fees
  • Free ad posting
  • In-depth tutorial available
  • Verified User Badges for KYC-ed users
  • Over 100 payment methods supported
  • 24/7 Multi-lingual customer support

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.

FeatureBinance P2POKX P2PHuobi P2PByBit P2PKuCoin P2P
Nr. of Coins Supported7006644
P2P Trading Fees0,10% per tradeNoneNoneNoneNone
Nr. of Fiat Currencies Supported100+100+100+40+60+
Nr. of Payment Methods Supported100+900+150+100+100+
Free ad postingYesYesYesYesYes
P2P Trading Educational MaterialVideo tutorials, explainer blog postsVideo tutorials, explainer blog postsVideo tutorials, explainer blog postsVideo 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.

Conclusion

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.


ExchangeOverall ScoreBest ForFees (Maker/Taker)Spot Volume (BTC)
#1Binance P2P4.9Best overall exchange1%/1%$2,739,612
#2OKX P2P4.8Best for Low Fees0.10%/0.02%$89,000
#3Huobi P2P4.8Best for security0.04%/0.05%$36,500
#4ByBit P2P4.7Best for fixed Yields0.08% /0.1%$806,899,070
#5KuCoin4.6Best for Altcoins0.1% /0.1%$53,964,331

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

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