When we want to exchange cryptocurrency, first of all, we are interested in how reliable and secure the trading platform is. Especially if we are talking about large amounts. We have to be sure that the funds will reach our wallet. But equally important criteria for selecting a site will be the optimal balance of convenience and risks when exchanging.
That is, when choosing a cryptocurrency marketplace, we also evaluate how quickly we can sell or buy bitcoin using a credit card, payment system, or bank transfer with minimal costs. Many sites that win in terms of reliability can not provide the necessary convenience to users. This is especially true when you need to quickly exchange crypto assets. These sites are regulated by law, but have their own restrictions. For example, users often need to pass the KYC procedure, which poses a threat to their privacy.
On the other hand, these platforms need to ensure high security of payments when paying through fiat gateways. This leads to higher costs, which inevitably affects the fees. The cost of exchange on such platforms can reach 6% – 10% of the converted amount, which makes the process unprofitable. Therefore, in this review, we will consider sites that not only ensure the security of crypto payments, but also provide a convenient and low-cost exchange of crypto assets. Let’s get started.
LocalBitcoins
This service is one of the old-timers of the market and is one of the most popular P2P platforms around the world. LocalBitcoins was founded in 2012 and provides crypto exchange in more than 200 countries, and the platform itself has several million users.
The peculiarity of LocalBitcoins is that It uses a hybrid approach: if you need to quickly exchange a small amount of Bitcoin, then you just need to register and sell the cryptocurrency without the threat to your privacy. Verification is only required if you are a regular seller/buyer, and you need large limits for exchanges.
Another feature of the exchanger is that only sellers pay a fee, and it is only 1%. If you place an order yourself, you can also earn on the exchange thanks to such low fees. The service does not bear the operating costs associated with the exchange of cryptocurrencies. These costs are borne by the users themselves, and the platform only acts as an intermediary. This is the main advantage of the site, which is why the fees are so low.
Binance
It is one of the largest and most famous trading platforms. Initially, Binance was just a regular spot trading platform, but from the very beginning. It set the development vector for the entire market, first issuing its own token and creating its own blockchain, and then rapidly expanding its infrastructure.
Currently, the platform supports fiat currencies. You can sell bitcoin in at least two ways:
- Top up the exchange’s balance, exchange BTC for EUR or other currencies, and then withdraw funds to a credit card or via bank transfer through a fiat gateway. Moreover, when using some payment systems, such as AdvCash or Payeer, the fee is not charged;
- Sell Bitcoin through the exchange’s own P2P crypto exchange market. The fee will only be charged for the transfer, if your bank provides it.
HiRiBi
This platform has focused as much as possible on the most important needs of the market. HiRiBi service supports the most popular cryptocurrency – Bitcoin – and one of the most important payment systems – PayPal. It is quite difficult to find a service that allows you to sell BTC for PayPal dollars. But this service has solved, perhaps, one of the main needs of crypto users.
Moreover, not only will you be able to sell Bitcoin through this payment system, but you will also do it at a very high rate. The platform tracks rates on major crypto exchanges, which allows you to offer the most profitable rate. The site also has a profitable affiliate program.
The service supports automatic exchange. After sending bitcoins to the specified details, you only need two confirmations of the Bitcoin network, after which the funds will be sent to your PayPal wallet.
The service does not support other exchange directions, but this can not be called a disadvantage since the service was created to solve precisely this problem – the exchange of Bitcoin to PayPal. And HiRiBi is doing a great job in that.
Paxful
Another well-known P2P platform for exchanging cryptocurrencies and one of the main competitors of LocalBitcoins. Even their pricing policy is the same: no fee is charged for buying bitcoins, and when selling, users pay a fee of 1%. There is also a fee for withdrawing bitcoins in the amount of 0.0005 BTC, so it is even more profitable to sell than to buy.
The exchange also monitors the progress of transactions and ensures the security of transactions. Therefore, the service is practically no different from its competitor – choose the platform that is most convenient for you and meets your needs.
LocalCoinSwap
This is another major P2P crypto exchange, much like LocalBitcoins or Paxful, which we discussed earlier, but with the difference that you do not pay any fee if you do not place an offer yourself.
Conclusion
We have reviewed secure platforms that allow you to exchange Bitcoin for Fiat. You should choose a platform based on the payment method you use. For example, Binance allows you to withdraw currencies to AdvCash and Payeer without fees. And if you want to exchange BTC to PayPal USD profitably and safely, the HiRiBi service is the best option.
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