How to choose a seller in a P2P exchange?

Cryptocurrency exchange through P2P platforms is becoming increasingly popular due to the flexibility and convenience of such transactions. However, when choosing a seller, it’s important to consider many factors to minimize risks and avoid fraud. 

In this article, we will discuss the key criteria that will help you make the right choice.

Rating and Reviews 

One of the main indicators of a seller’s reliability is their rating and reviews from other users. On most crypto exchanges that offer P2P trading, such as Binance, Bybit, or OKX, each seller has a rating based on previous transactions. Pay attention to:

• Overall rating (usually displayed as stars or percentages).
• Number of successful transactions — the more, the better.
• Reviews from other users — read both positive and negative comments.

Volume and Frequency of Transactions

Experienced sellers usually carry out a large number of transactions and work on the platform regularly. The higher the seller’s turnover, the more likely they are a reliable market participant. It’s advisable to choose sellers who:

• Have completed at least 100 successful transactions.
• Have been active on the platform for more than a month.
• Have a high transaction completion rate (over 90%).

Transaction Terms

Before starting a transaction, carefully read its description. Reliable sellers usually clearly indicate payment methods, such as bank cards, e-wallets, or cash, specify the time frame for transferring funds, and mention any additional requirements, such as identity verification. 

If the terms seem suspicious or too complicated, it’s better to choose another seller.

Payment Methods

Different sellers offer different payment methods. It’s important to choose the one that is convenient for you and meets your security requirements. The most popular options are:

• Bank transfers
• Payment systems (Payeer, Revolut, etc.)
• E-wallets
• Cash payments (in some cases)

Important! Check if the account holder’s name matches the seller’s name on the platform to avoid fraud.

Limits and Exchange Rate

Each seller sets their own minimum and maximum exchange limits, so if you need a large amount, make sure they can handle it. Before closing the deal, it’s worth comparing the offered rate with the market rate. A rate that’s too low may indicate a fraudulent scheme, while an inflated rate will make the transaction unprofitable for you.

Response Time 

On P2P platforms, the seller’s response time plays an important role. If they take too long to confirm the transaction, it can lead to delays or cancellation of the exchange. Pay attention to:

• Average response time (usually indicated on the platform).
• Seller’s online status.
• Working hours (if specified in the profile). 

Verification and KYC Level

Some platforms require sellers to undergo verification (KYC). This adds an extra layer of security. If a seller has passed KYC, it reduces the risk of fraud since the platform knows their personal data. However, even verified sellers can make mistakes, so always stay vigilant.

Previously, we wrote about the best ways to store cryptocurrencies in the article “9 tips for safe use of digital assets”

Actions in Case of Disputes

Sometimes transactions may not go as smoothly as expected. It’s important to know how to act in such situations:

• Do not confirm the transaction until you have received the funds.
• If problems arise, contact the platform’s support team.
• Use the built-in chat to communicate with the seller.

How to Avoid Fraud?

To avoid fraud in P2P exchanges, always verify the seller’s information. A reliable profile with positive reviews and a history of successful transactions is an important indicator of a safe transaction. Never transfer money outside the platform, as this deprives you of protection in case of disputes. 

Use platforms that support escrow functionality — it guarantees that funds are held until the transaction is completed, protecting both parties. If a seller’s behavior seems suspicious, it’s better to cancel the transaction. Pay special attention to requests to transfer funds to a third-party account or make a repeat payment without official confirmation — in such cases, never pay twice.

If you have no experience with cryptocurrency, it’s more convenient and safer to use online exchangers listed in our monitoring. Here, you don’t need to search for a reliable seller or worry about transaction security — all processes have been verified, and the risk of fraud is minimized. This is a simple and clear way to exchange crypto, ideal for beginners.

Conclusion

Exchanging cryptocurrency through P2P can be convenient and profitable if you choose a seller carefully. Trust only those with a positive reputation, verified reviews, and transparent transaction terms. 

Remember: attention to detail, verifying information, and using the platform’s security features will help you avoid risks and ensure a safe exchange. Make informed decisions — and your P2P experience will be reliable and comfortable.