P2P in Cryptocurrency – What It Is, How to Earn fr om Exchange, Fees and Risks

Most people get into P2P not out of curiosity, but out of necessity. It usually looks like this: you urgently need to buy USDT, your bank card does not work with the regular fiat gateway, the “one-click” fee feels overpriced, and you need crypto right now. That is when you open the P2P tab.

P2P is a “peer-to-peer” model, meaning exchange directly between people. In crypto, it is a way to buy and sell assets without the exchange acting as the seller. The platform acts as a deal guarantor, not the counterparty.

If we simplify it to a real-life scenario: one person wants to sell USDT for rubles, another wants to buy. The exchange freezes the seller’s crypto in escrow (an intermediary) and holds it until payment is confirmed. Fiat moves directly between people – via bank card transfer, bank transfer, or e-wallets.

This is not order book trading and not an automatic market order. This is interaction with a real person. That is both the advantage and the downside of the model. In this article we will cover how it works, practical nuances and pitfalls, what risks you should understand, and whether you can earn on P2P.

How P2P Differs fr om a Regular Crypto Purchase on an Exchange

There are two basic ways to buy crypto:

1. Buying via a fiat gateway (“Buy Crypto”, “one click”).
2. Buying via P2P.

In the first case, the counterparty is the platform or its payment partner. In the second case, the counterparty is another user.

The Practical Difference: Fiat Gateway vs P2P

If you are buying 100 USDT, you will barely feel the difference.
If you are buying for 500,000 rubles, a 1-ruble rate difference means saving (or overpaying) 5,000 rubles.

And that is wh ere P2P stops being “exotic” and becomes a working tool that consistently saves money.

How P2P Exchange Works: Step-by-Step Mechanics

Let’s go deeper into the mechanics, because this is exactly where typical mistakes happen and where the risks of losing funds appear.

1. The seller posts an offer (for example: selling 10,000 USDT at 99.8 RUB).
2. The buyer selects that offer.
3. The exchange freezes the seller’s 10,000 USDT.
4. The buyer transfers rubles directly to the seller.
5. After confirmation, the crypto is released.

The key word is escrow. That is a secure intermediary account that belongs neither to the buyer nor the seller, but to a trusted third party.

Until the deal is completed, the seller cannot withdraw the USDT, and the buyer cannot cancel the deal without a reason.

Example of how it works when buying 2,000 USDT:

• rate: 100 rubles
• amount: 200,000 rubles
• transfer time via SBP (Fast Payments System): 30–90 seconds
• deal confirmation time: up to 5 minutes

If the seller is online, the whole operation takes under 3 minutes.

But if the seller is offline or does not confirm manually, you may wait 10–15 minutes. That matters, especially when you need the money “right now”. By the way, on major exchanges like Binance or Bybit, counterparties often show an estimated confirmation time.

Why You Even Need P2P

P2P is not just an alternative. For many, it is the main entry point into crypto.

Main reasons:

• limited access to bank gateways;
• sanctions restrictions;
• the desire to save on fees;
• the need to buy/sell a large amount;
• working with local currencies.

In CIS countries, P2P often becomes the baseline method for deposits and withdrawals. Another important point is speed. If you urgently need to fund 50,000 USDT to join a launchpad, P2P can be faster than an international bank transfer.

Where P2P Is Used

P2P functionality exists on almost all major crypto exchanges:

• Binance
• Bybit
• OKX
• KuCoin
• HTX

There are also standalone P2P platforms, but exchange P2P is usually safer due to built-in dispute resolution. Off-platform Telegram deals without escrow are already a pretty risky thing.

Practice shows: for amounts above 300,000 rubles, working outside official platforms is an unnecessary risk.

P2P Fees: Where the Profit Comes From

Formally, an exchange may not charge a P2P fee.

But the seller earns on the difference in rates (the spread).

Example:

• Market USDT rate = 100 RUB.
• The seller lists 101 RUB.
• The buyer pays 1% more.

On a sale of 10,000 USDT that is +10,000 rubles added to the seller’s turnover.

That is exactly what P2P arbitrage earnings are built on.

What Volumes Go Through P2P

Many people think P2P is “for small amounts”. In practice, serious volumes move through P2P.

On large exchanges, on active days, total P2P turnover can reach tens of millions of dollars equivalent.

One active P2P merchant (a professional seller) can rotate 5–10 million rubles per day, which is 150–300 million rubles per month. With a 0.8–1.5% margin, that is already a real business. But such volumes automatically increase the risk of bank account restrictions.

What Working with P2P Looks Like in Practice

P2P theory sounds neat and simple. In practice it looks a bit more “alive”, sometimes stressful, and sometimes unexpectedly profitable.

Most often a user comes to P2P in three situations:

1. You need to buy USDT quickly.
2. You need to withdraw money to a bank card.
3. You want to run volume and earn on the spread.

And each scenario has its own nuances.

Scenario 1. Urgent Crypto Purchase

Suppose a news event hits the market. The price starts moving. You urgently need to buy 3,000 USDT.

Via a bank gateway the operation may take 10–20 minutes plus fees. Via P2P it is usually faster:

• pick a seller with a lim it fr om 100,000 rubles;
• send the transfer via SBP in 30 seconds;
• confirmation in 1–2 minutes.

The whole operation can fit into 3–5 minutes.

But it is important to understand: if the seller is not online, the process can drag on. In real life it is better to choose those who are “online” and confirm actively, or sellers that show an average deal time.

How People Earn on P2P

Many people are interested in P2P specifically for earning, not for a one-time deposit/withdrawal. So how does it work?

The idea is as old as the world – buy cheaper, sell higher.

But wh ere does “cheaper” come from?

• during low-liquidity hours;
• during rate fluctuations;
• during market panic;
• when supply/demand is imbalanced.

A practical case: in the morning, demand for withdrawing rubles is high. USDT sellers list at 101 rubles.
In the evening, more people want to buy USDT than sell – the rate drops to 99.5 rubles. That is a 1.5 ruble difference per dollar.

If you rotate 500,000 USDT over a month, even a 1-ruble margin already gives 500,000 rubles of gross profit before costs.

The pitfalls are obvious – you need turnover, bank limits, and discipline.
So you must understand the risks. This is not passive income, it is daily manual work. And do not forget the constant risk of your bank card being blocked.

Why Banks Block P2P Operations

This is one of the most painful topics for P2P traders. If not for bank card blocks, many would call it a gold mine.

A bank sees your full transaction history and can easily spot suspicious patterns.

Risk factors:

• many incoming transfers fr om different people;
• repeating identical amounts;
• fast cash-outs.

Financial monitoring algorithms interpret this as potential commercial activity or “suspicious operations”. Especially if turnover exceeds a rough threshold like $6,000 per month, or if there is no official income that matches the turnover.

In practice, the less chaos in transfers, the lower the chance of being flagged. Many professional P2P participants use multiple cards, different banks, and split turnover. But even that does not guarantee you will avoid blocks. These rules only reduce the probability of getting caught by bank filters.

How to Reduce the Risk of Being Blocked

You cannot remove the risk completely, but you can lower the probability. Also keep in mind: if you change a bank card not every month but, say, every six months, life becomes easier.

Practical measures:

• do not run dozens of operations within 5 minutes;
• avoid round numbers (100,000; 200,000);
• do not operate 24/7 without pauses;
• do not cash out immediately after receiving funds.

And the main point – understand that P2P with 5–10 million rubles in monthly turnover already looks like a business, not personal transfers. Otherwise you will have to work hard explaining the origin and purpose of your transactions to the bank.

Main P2P Risks

When working actively with peer-to-peer payments, the risks are not only bank-related. There are other pitfalls too. If you know them, you can significantly reduce your exposure.

1. Fake Screenshots

A scammer sends a “photo of the transfer”. The money did not arrive – you confirm the deal – the crypto is gone.

Rule: confirm only after real funds are credited. Check your account, funds are there – only then confirm the order. No “proofs”, no screenshots, no stories.

2. Card Blocking

We discussed this above. A bank can temporarily freeze the account and request explanations of the origin of funds. Frequent transfers fr om different people are a trigger for monitoring. With turnover above 1–2 million rubles per month, the risk increases.

3. Chargeback (for foreign cards)

When dealing with international payments, a bank chargeback is possible.

4. Name Mismatch

Some banks block transfers if the recipient’s name does not match.

Arbitration and Disputes

If a conflict happens, a dispute is opened, screenshots are attached, the exchange reviews the data. The decision can take fr om a few minutes to several hours.

Practical detail: for amounts 100,000+ rubles, it is better to save transfer history and the receipt as a PDF.

In general, it is better to avoid disputes. There have been cases wh ere disputes ended with an account restriction. And overall – unnecessary risk is pointless. Open a dispute only if you are sure you are right, or if there is a direct threat of fraud or loss of funds.

How to Choose a Reliable Counterparty

On any exchange with P2P you can filter sellers by key parameters – rating, reviews, average order time, etc. A practical checklist looks like this:

• 1,000+ completed deals;
• 98–100% completion rate;
• a long registration history;
• reasonable deal limits.

If you are buying for 300,000 rubles, it is better to choose a seller with 5,000 deals and a rate +0.3 rubles, than a newbie with a perfect rate. Saving 900 rubles is not worth the risk.

Also important:

• use 2FA;
• do not confirm a transfer before funds are credited;
• check the counterparty name (full name);
• start with a test deal;
• do not move the deal off-platform.

For amounts 500,000+ rubles, it is better to split the deal into 2–3 parts.

How to Use P2P for Deposits

A typical situation: a new attractive launchpool starts on the exchange, or a staking promo goes live. You need crypto fast. Then you use P2P to deposit fiat. The flow is:

1. Buy USDT via P2P.
2. Move it to spot.
3. Use it for trading.

If you need to open a futures position fast, P2P is often quicker than a bank gateway.

How to Withdraw Money via P2P

If you need to sell stablecoins and receive fiat, the flow is the reverse:

1. Move USDT to the P2P wallet.
2. Sell at the chosen rate.
3. Wait for the fiat transfer.
4. Confirm the deal.

For selling 10,000 USDT:

• waiting time for the buyer: 1–10 minutes;
• transfer time: up to 3 minutes;
• total operation: around 5–15 minutes.

P2P vs DEX: What Is the Difference

People often confuse P2P and DEX because both are casually called “exchangers”. But the mechanics are completely different, so the terms matter.

P2P = exchanging fiat for crypto between people.
DEX = exchanging crypto for crypto via a smart contract.

On a DEX there are no bank transfers.
On P2P there is no automatic AMM.

Is P2P Legal in Russia

There is nothing illegal in the technology itself. That is the idea behind web3.0 – decentralization, wh ere there is no single controlling authority, and everything happens directly between users. In Russia, P2P itself is legal. But problems can arise with tax evasion, participation in shady schemes, or dealing with illegal funds.

In some countries P2P is not prohibited, but banks may still lim it operations.

Pros and Cons of P2P

Pros

• flexible payment methods
• better exchange rates
• availability under restrictions
• ability to earn on spreads

Cons

• human factor
• risk of bank card blocks
• need to verify counterparties
• possible disputes

P2P Scam Schemes: How People Get Cheated in 2026 and Where Newcomers Get Cut Most Often

When someone enters P2P for the first time, it feels like if the exchange is the guarantor, the scheme must be nearly bulletproof. Escrow, dispute resolution, seller ratings – everything looks thought through.

But P2P fraud did not disappear. It just became more sophisticated and now plays less on technical vulnerabilities and more on rush, inattention, and psychology.

P2P Details Substitution

One of the most common stories is details substitution.

The scenario looks almost routine – you open an order, and in chat the counterparty says their “main card is temporarily not working” and asks you to transfer to another bank. Sometimes they send a screenshot that looks like an official notification.

A newcomer thinks that since the deal is inside the platform, everything is controlled – and sends the money.

The problem is that escrow holds crypto for the exact payment details listed in the order. If money went “somewhere else”, the exchange may reject your dispute because you violated the deal rules yourself.

Rule: transfer only to the payment details shown in the order. No exceptions.

P2P Fake Support

The second scheme is fake support.

Someone messages you pretending to be “exchange staff” in Telegram or even in the deal chat, claims there is an issue and asks you to urgently confirm the operation or send extra data.

In reality, real support does not message you first. Especially outside the platform.

But when 200,000–300,000 rubles are on the line, people get nervous and start acting faster than they think. The outcome is usually predictable.

P2P Triangle Scheme

The triangle is worth mentioning separately.

This is a more complex scenario that often hits not beginners, but those who trade actively.

The idea is that three parties are involved – you, the scammer, and a third person who does not even realize they are part of a scheme.

For example, a scammer posts an item for sale on a separate marketplace, receives money from a buyer, and then uses that same money to pay your P2P order.

Formally, you received the transfer, but the sender is a random person who later files a fraud complaint with the bank. The bank blocks the card, and you end up in an unpleasant “explain this” conversation.

P2P: “Please transfer to another bank” – What to Do

The answer is simple: do not transfer.

Even if the rate is “very sweet” and the deal looks profitable. Platform rules exist for a reason. The moment you step outside the order details, you lose protection.

Saving 0.3 rubles per dollar on a 300,000-ruble volume is 900 rubles. The loss from a mistake is the entire turnover. The math is brutally clear.

Common P2P Problems: Name Mismatches, Third Parties, and Dispute Situations

A large share of P2P disputes happens not because of outright fraud, but because of formal mismatches. And these mismatches are exactly what most often lead to frozen funds and unpleasant investigations.

P2P Transfer to a Third Party – Is It Allowed?

Formally, most major exchanges require transfers to go strictly from the account owner to the account owner.

If money comes from a third party, that is already a risk.

In calm situations a deal may pass without consequences. But if the sender later files a complaint with the bank, an investigation starts. And proving that it was not a “triangle” becomes harder.

P2P: Using Someone Else’s Card

A familiar scenario: the seller says the card is registered to a relative. Or the buyer pays from a spouse’s, sibling’s, or partner’s card.

At the moment it feels like a minor detail. Money arrived – everyone is happy.

But if a dispute is opened, the exchange almost always requests proof that the names match. If the name does not match, the situation can get complicated.

P2P: Recipient Name Does Not Match – What to Do

If the sender’s name differs from the name in the order, it is better to pause the deal. Even if the money already arrived.

Spending an extra 2–3 minutes on checking is cheaper than a potential card or account block.

P2P: Name Mismatch – Dispute

If a dispute is already open, the exchange typically requests:

• transfer screenshots/receipts,
• identity verification,
• chat history.

The process may take from a few minutes to several hours, and sometimes longer.

That is why for amounts from 100,000 rubles, many experienced users prefer to save receipts and transfer history in advance – not after a conflict starts.

FAQ

What is P2P in cryptocurrency?

It is a direct exchange of cryptocurrency between users via a platform that acts as a guarantor.

Is P2P safe?

It is safe when you use official platforms and follow basic verification rules.

Can you earn on P2P?

Yes, via arbitrage and working with spreads, but it requires volume and risk control.

How is P2P different from a regular purchase?

With P2P you send money to a specific person, not to the exchange.

Conclusion

P2P is not a backup option, but a full-fledged financial tool in the crypto market. It allows you not only to earn, but also to work with local currencies and save on fees.

But flexibility comes with responsibility. P2P is not a “buy” button, it is interaction with real people. That means attention, verification, and a cool head matter more than speed.