UPDATE: P2PB2B has rebranded to P2P. The rebranding will be effective from 26 September 2022
What is P2P?
P2P is crypto exchange launched in January 2018 and is based out of Lithuania.
P2P Transaction Engine
One factor the platform emphasizes, is their transaction engine. The transaction engine has a processing speed of up to 10,000 trades per second. If you make one or two trades every day, transaction engine speed is quite irrelevant to you. But if you’re a day trader looking to find arbitrage opportunities, it can be more important.
This platform has a support function that is open 24/7. This is very helpful seeing as the exchange ought to have investors residing in all of the world’s different time zones. There are support staff members speaking most of the world’s major languages here. It’s essentially only Hindi missing from the list of the biggest languages in the world.
P2P does not explicitly state that US-investors are prohibited from trading. So, we US-investors should be able to trade here. Any US-investors that want to trade here should in any event form their own opinion on any issues arising from their citizenship or residency.
P2P Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. The below is a picture of the trading view at P2P:
Available Trading and Liquidity
P2P supports trading in most of the bigger cryptos, but you can’t deal with a wide variety of smaller altcoins here. This trading platform focuses on enabling trading with the crypto crown jewels (Bitcoin, Ethereum, NEO, Litecoin, DASH and the like). They will surely add more cryptos in the future though. You’ll just have to wait and see.
P2P has become quite a big player in the crypto exchange genre. When we first prepared this review, on 18 December 2018, the trading volume was USD 57 million. This number had increased to USD 1.1 billion on the date of last updating this review (2 December 2021), according to Coinmarketcap.com. This is quite a decent trading volume, for sure.
P2P Trading fees
This exchange has set their trading fees at 0.20% flat. This means that both takers and makers pay 0.20% upon the successful execution of a trade. 0.20% is slightly below the global industry average (approx.. 0.25%).
P2P Withdrawal fees
P2P charges 0.0005 BTC when you withdraw BTC. This is a very high fee level, especially when you compare it to the global industry averages. The global industry average BTC-withdrawal fee according to our most recent empirical study was 0.0004599 BTC per BTC-withdrawal. So P2P charges a withdrawal fee that's almost three times higher than the global industry average, which is not consumer-friendly at all.
P2P offers wire transfer as a deposit method and you can also deposit via credit card. This is of course very helpful to any newer crypto investor. Accepting fiat currency deposits also makes P2P an “entry-level exchange”, where new crypto investors can take their first steps into the thrilling crypto world!
When looking at the security measures taken at P2P, one must not forget that 96% of all crypto assets are allegedly stored on cold wallets. This exchange also states on its website that it has “WAF-based smart screen [that] detects and blocks all hacker attacks”.