A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of P2PB2B consists of four parts: general information, fees, deposit methods and security.
P2PB2B is a very interesting new Estonian cryptocurrency exchange that launched in January 2018.
As you surely know, the Baltic region consists of three countries: Estonia, Latvia and Lithuania. Considering this, it might seem odd that out of these three countries, only Estonia is the home of any cryptocurrency exchanges. And not only one or two either. BTCBear, Jubiter, LATOKEN, Crex24, Kriptomat, Escodex, Elegro and P2PB2B are all registered in Estonia.
The only explanation for this however is that Estonia have a license you can obtain in order to conduct cryptocurrency exchange operations as an Estonian company. To our knowledge, there are only two other countries in Europe that have a clear specific legislation on this like Estonia has: Malta and Gibraltar.
The transaction engine allegedly 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 allegedly open 24/7. This is naturally 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.
P2PB2B does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
P2PB2B 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 cryptocurrency 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 ascertain that it feels right to you. The below is a picture of the trading view at P2PB2B:
Available Trading and Liquidity
P2PB2B supports trading in most of the bigger cryptocurrencies, but you can’t deal with a wide variety of smaller altcoins here. This trading platform focuses on enabling trading with the cryptocurrency crown jewels (Bitcoin, Ethereum, NEO, Litecoin, DASH and the like). They will surely add more less traded cryptocurrencies in the future though. You’ll just have to wait and see.
As regards liquidity, this exchange is not a small-time player (but not one of the bigger dragons either). On the day of first writing this review (18 December 2018), P2PB2B had a 24 hour trading volume amounting to USD 57 million. This placed it on spot no. 46 on the list of exchanges with the highest 24 hour trading volume. On the date of last updating this review however, the trading volume had increased to USD 159 million, although the place on the list had dropped to 56. Liquidity is thus definitely acceptable, even though there is some room for improvement.
P2PB2B 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%).
P2PB2B Withdrawal fees
There are exchanges that attract customers by offering low trading fees but then make their profit through charging high withdrawal fees. And once you’ve started trading at an exchange, you can’t come out without getting hit by the withdrawal fees. Fortunately, this exchange is not one of those.
P2PB2B charges 0.0012 BTC when you withdraw BTC. This is an acceptable fee level, but it is still roughly 50% higher than the global industry average BTC-withdrawal fee. The global industry average BTC-withdrawal fee is 0.000812 BTC. The difference between the global industry average fee and P2PB2B’s withdrawal fee corresponds to only 2 USD, which probably is quite insignificant to most. From our perspective, the withdrawal fee is more of an indicator of where in the global fee landscape an exchange wishes to place itself.
P2PB2B offers wire transfer as a deposit method and you can also deposit via credit card. This is of course very helpful to any newer cryptocurrency investor. Accepting fiat currency deposits also makes P2PB2B an “entry-level exchange”, where new cryptocurrency investors can take their first steps into the world of cryptocurrency investments!
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security. P2PB2B only received an F-score in this test. This is below industry average. An F might seem scary, but it should be noted that out of all exchanges in our Cryptocurrency Exchange List, a majority actually received just that: F.
And, when looking at the security measures taken at P2PB2B, one must not forget that 96% of all cryptocurrency 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”.
Liquidity is something very important for all exchanges, cryptocurrency exchanges but also regular stock market exchanges. The above exchange does indeed have great liquidity. However, the following 10 cryptocurrency exchanges are also regularly among the cryptocurrency exchanges with the absolutely best liquidity in the world: