P2B Review 2024 – Fees, Features, Pros & Cons Revealed

This exchange is large, but can it compete with other major exchanges on price, user experience, and ease of use? Find out in our P2B review.

What P2B Does Well

P2B is a beginner-friendly crypto exchange that makes it easy for anyone to buy and trade cryptocurrencies. The exchange accepts payment methods including credit and debit cards and bank transfers, making it easy to deposit fiat. Traders can instantly buy most crypto tokens or use P2B’s integrated trading interface to place market and limit orders.

P2B also excels at giving investors access to new cryptocurrencies. The exchange has its own launchpad to incubate new projects and give its customers early access to tokens. It also lists initial decentralized exchange offerings (IDOs) and initial centralized exchange offerings (IEOs). P2B lists around 30 new cryptocurrencies for trading each month.

Overall, P2B is a great choice for new crypto traders who want a simple way to get into the market as well as traders who want to access new projects within the infrastructure of a centralized exchange.

P2B at a Glance

What Cryptocurrencies Can You Trade on P2B?

P2B offers more than 900 crypto trading pairs representing around 750 unique tokens. Most tokens are paired with BTC, USDT, or ETH for trading. The exchange integrates with 51 blockchains, including all major chains such as Bitcoin, Ethereum, Solana, Avalanche, Tron, and more.

P2B’s selection is significantly smaller than for other exchanges in Europe. For example, Binance and MEXC each offer thousands of tokens to trade. However, P2B global is available to US traders and it offers significantly more tokens than Coinbase, Binance.US, or Kraken.

Another notable aspect of P2B’s trading options is that the exchange lists new tokens at a higher rate than many of its peer exchanges. Traders can expect around 30 new tokens on P2B each month, compared to 5 or fewer for exchanges like Binance and OKX.

P2B does not offer crypto futures trading or an NFT marketplace.

P2B Spot Trading Fees

P2B charges a variable trading fee based on a trader’s activity on the platform and whether their trade is making or taking liquidity on the exchange.

P2B fees start at 0.2% for both makers and takers. Fees can drop as low as 0.01% for makers and 0.1% for takers for traders who have 30-day trading volume of 500 BTC or more.

P2B doesn’t charge its own fee for instantly buying crypto with a debit or credit card. However, Simplex, which P2B uses to process card transactions, charges a fee of 3.5%-5% with a minimum fee of $10 per transaction.

P2B Futures

P2B does not offer futures trading at this time. This could change in the near future since Coinbase recently began offering crypto futures to US traders.

Trading Experience

P2B crypto trading is very beginner-friendly. This is one of the easiest crypto exchanges to get started with, making it a good choice for new crypto traders and investors.

There are two ways to buy cryptocurrency on P2B. The first is to make an instant purchase using a credit or debit card or bank transfer. This approach is very easy and lets users buy cryptocurrency at the current market price in seconds, without ever looking at a chart. However, it does incur higher transaction fees than spot trading.

The second way to trade tokens on the P2B exchange is to use its spot trading interface. This enables you to search for a trading pair and bring up a wealth of data about it, including real-time technical charts and Level 2 trade data.

The integrated charts are from TradingView, one of the most popular charting platforms among crypto traders. Users can add hundreds of indicators and view price data on time intervals as short as 15 minutes. However, there are no 1-minute charts and only candlestick charts are available.

P2B’s order interface enables traders to place market or limit orders. However, there are no additional risk management options available. Traders cannot place stop-loss orders, one-cancels-the-other orders, or conditional orders.  While the lack of these order options makes P2B more user-friendly, it also makes the platform less suitable for advanced traders.

Traders can find pairs to trade by searching or by sorting trading pairs by volume or percent change. However, P2B doesn’t offer more advanced screening tools to help traders generate ideas.

The feeling we got from our P2B review is that this exchange has put simplicity first. Anyone can come to P2B and figure out how to use the spot trading interface in seconds. But that simplicity comes at a cost—advanced traders won’t find the tools and order options they need to execute complex strategies.

P2B Wallet

P2B doesn’t have its own crypto wallet app. User’s funds are held in the exchange’s wallets and are fully separated from the exchange’s operating funds. Individuals can withdraw crypto to another wallet at any time.

Mobile App

P2B offers a mobile app for Android, but not for iOS. The app gives traders complete control over their P2B account. They can deposit and withdraw funds, instantly buy crypto, and place trades.

The P2B app is well-designed and easy to navigate. Users can easily view live crypto prices or access candlestick charts and Level 2 data for any trading pair. The app offers the same market and limit order execution options as P2B’s web platform.

Staking on P2B

P2B offers 3 limited crypto staking options.

The first 2 options are fixed and flexible staking. These staking options are only available for popular tokens like BTC, ETH, BUSD, USDT, PACT, and others. Fixed staking offers higher interest rates and requires investors to lock their tokens for 7, 14, 30, or 90 days. Flexible staking allows investors to withdraw their tokens at any time, but this type of staking typically features lower yields.

The third staking option is an earnings pool. The earnings pool features several coins that offer fixed-period staking for a limited time. As of January 2024, the only tokens available for staking through P2B’s earnings pool are $ZNX and $EMMI.

P2B Payment Methods

P2B partners with Simplex, Koinal, Moonpay, Payeer, and ADVCash to process payments. Customers can make a deposit with a credit card, debit card, or bank transfer. In addition, customers can transfer any cryptocurrency that P2B offers for trading to the exchange from a third-party wallet.

In summary, payment methods at P2B include:

• Credit/debit cards
• Bank transfers
• Cryptocurrency

Minimum Deposit

There is no minimum deposit for card or bank transfer deposits to P2B. However, the payment processors that P2B partners with charge variable deposit fees for these methods. A deposit must be greater than the minimum fee (for example, $10 for instantly buying crypto with a credit card).

The minimum deposit for cryptocurrencies varies by token, although there’s no minimum deposit for most crypto tokens. There is no minimum deposit for Bitcoin, for example. There are also no deposit fees for most cryptocurrencies.

Withdrawal Times

P2B typically processes cryptocurrency withdrawals in 45-60 minutes. Withdrawal fees and withdrawal minimums vary by token. For Bitcoin, the minimum is 0.0020 BTC and the fee is 0.0015 BTC.

Customers can also withdraw funds to a bank account using ADVCash. Withdrawals typically take 1-3 days to process. Withdrawal fees vary based on the currency and account used for the withdrawal.

P2B Customer Support

P2B offers 24/7 customer support by email and live chat. It takes around 15-30 minutes to get connected with an agent by live chat, so contacting support does require patience. Helpfully, P2B also has a Telegram chatbot and a detailed online knowledge base that explains how to deposit, trade, and withdraw funds.

P2B has a 3.0-star rating on Trustpilot, which is much better than competitors like Binance. Positive reviews spoke to the quality of P2B’s customer service and the work P2B is putting into consistently improving the customer experience. Negative P2B reviews noted that tokens can be under maintenance at times, preventing them from being withdrawn.

Is P2B Safe? Licensing & Security

P2B launched in Estonia in 2017 as P2PB2B. The exchange rebranded to P2B in 2022.

P2B is registered in Estonia and complies with all EU regulations on digital currencies, including the new Markets in Crypto Assets (MiCA) framework and the revised Transfer of Funds regulation. The exchange requires all customers to undergo a Know Your Customer (KYC) check and verify their identity prior to making a deposit. The website has a strict and transparent anti-money laundering policy.

P2B protects customers’ funds by keeping them fully segregated from the exchange’s operating funds. The exchange guarantees 100% fund availability, meaning customers can withdraw their funds at any time without the risk of a bank run.

P2B also has a bug bounty program that entices programmers to proactively identify vulnerabilities in the exchange so that they can be fixed.

Where Could P2B Improve?

P2B is a very user-friendly exchange, but it has several major shortcomings:

• Limited features for advanced traders: P2B lacks tools that are essential for advanced crypto traders. The charts aren’t flexible and there are no advanced order management options. There are also no screening tools or alerts to help traders find opportunities.

• No crypto futures trading: P2B doesn’t offer crypto futures trading, while competitors like Binance, MEXC, and OKX do. This is a missed opportunity for the exchange.

• Limited staking options: P2B offers staking on only a limited selection of tokens. Investors would especially benefit from more options to stake in P2B’s earnings pool.

• No crypto wallet app: P2B doesn’t offer its own crypto wallet app. While this isn’t essential, it could make tokens purchased on P2B more portable for use off the exchange.

• Doesn’t support e-wallets: While P2B accepts deposits by credit card, debit card, bank transfer, and crypto transfer, it does not support transfers from any e-wallets.

Our Methodology

We carefully evaluated more than a dozen major crypto exchanges as part of our review of P2B. We considered not only what trading pairs and fees each exchange offered, but the overall experience customers received. We paid special attention to safety and trustworthiness in our exchange reviews. We evaluated what types of crypto trading and investing each exchange stood out for and where each exchange fell short of its peers.

Our review is based on this comprehensive and objective evaluation.

Conclusion

Our P2B review found that this crypto exchange is user-friendly and trustworthy, offering trading on more than 900 token pairs. The exchange isn’t perfect—it lacks futures trading and advanced order management options and has higher trading fees than some competitors.

But for new crypto traders and investors, P2B offers a seamless and easy to navigate experience. The exchange makes it easy to get into the crypto market and discover new tokens. Overall, P2B is a good choice for traders who prioritize ease of use over having endless trading tools.

References

• https://blockworks.co/news/coinbase-investors-futures-trading
• https://www.trustpilot.com/review/p2pb2b.com
• https://www.coindesk.com/learn/mica-eus-comprehensive-new-crypto-regulation-explained/
• https://www.dlapiper.com/en/insights/publications/2023/06/mica-tfr-the-two-new-pillars-of-the-eu-cryptoassets-regulatory-framework

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