How we test P2P crypto trading platforms
At GNcrypto, we put transparency first when evaluating peer-to-peer (P2P) cryptocurrency trading platforms. Our reviews are based on hands-on testing and thorough analysis across all key dimensions that matter for safely buying and selling crypto directly with other users.
What We Test
We rate P2P platforms on seven criteria that matter when you’re actually trading crypto for fiat or fiat for crypto. Each platform gets a score from 1.0 to 5.0 based on weighted performance across escrow safety, liquidity, fees, and dispute resolution.
Our focus: Can you trade safely with counterparties, find competitive offers quickly, and resolve disputes when things go wrong?
We don’t audit platform solvency or guarantee user safety from all scams. These scores reflect observable escrow mechanisms, order book depth, and platform support quality – not absolute protection from sophisticated fraud.
How We Score Platforms
Each criterion gets rated on a 5-point scale:
- 5/5 – Best in class (robust escrow, deep liquidity, instant dispute resolution)
- 4/5 – Above average, works well for most trades
- 3/5 – Acceptable with trade-offs (basic escrow, thin order books, slow support)
- 2/5 – Serious problems (weak escrow, low liquidity, poor dispute handling)
- 1/5 – Broken or unsafe (no escrow, exit scams, frozen funds)
Why We Use Weighted Scores
Not all criteria carry equal weight. Escrow safety matters more than app design. Liquidity matters more than UI polish. Dispute resolution matters more than educational content.
Our weighting system:
Tier 1 – Critical (60%)
These determine whether you can trade safely and efficiently:
- Escrow & Trade Safety – 25%
- Liquidity & Order Book Depth – 20%
- Fees & Payment Methods – 15%
Tier 2 – Quality (25%)
These affect account access and platform reliability:
- Verification & Account Limits – 15%
- Platform Performance & Reliability – 10%
Tier 3 – Experience (15%)
Important for usability, but won’t save a platform with bad escrow:
- User Experience & Trade Flow – 10%
- Customer Support & Dispute Handling – 5%
Example: A platform with perfect UX (5/5) but weak escrow that allows frequent scams (2/5) scores poorly overall. A platform with robust escrow (5/5) and deep order books (5/5) but a clunky interface (3/5) still ranks high.
The 7 Criteria
1. Escrow & Trade Safety (25% weight)
What we check:
- Escrow mechanism (automatic crypto lock, manual release, dispute arbitration)
- Trade release time (instant, time-locked, manual approval)
- Dispute resolution process (who arbitrates, evidence required, resolution time)
- Fraud protection (seller verification, buyer payment proof requirements)
- Scam prevention (user reputation system, trade limits for new users, flagged accounts)
- Insurance or compensation fund for platform errors
- Trade cancellation policies
Why it matters:
Without escrow, a seller can take your payment and never release crypto. Weak dispute resolution means you lose funds when a scammer claims they paid but didn’t. Slow release times lock up capital for days.
How we test:
We execute 2-3 test trades ($50-100 each) as both buyer and seller, document escrow lock/release process, initiate one dispute (with platform approval) to test resolution, and verify trade safety mechanisms. We measure:
- Time from payment to crypto release
- Dispute resolution timeline
- Evidence required for disputes
- Scam protection effectiveness
5/5 example: Automatic escrow on all trades, instant release after payment confirmation, 24hr dispute resolution with platform arbitration, seller verification required, trade insurance fund
3/5 example: Manual escrow (seller must lock funds), 12-24hr release time, 3-5 day dispute resolution, basic reputation system, no insurance
1/5 example: No escrow (trust-based), no dispute system, frequent scam reports, no seller verification, no compensation
2. Liquidity & Order Book Depth (20% weight)
What we check:
- Number of active buy/sell offers for major pairs (BTC/USD, ETH/EUR, USDT/local fiat)
- Spread between best buy and sell prices
- Order fill speed (time to find counterparty and complete trade)
- Geographic liquidity (offers available in your region with local payment methods)
- Average trade size availability (can you buy/sell $100, $500, $1K, $5K?)
- Market depth (how many offers at competitive prices)
Why it matters:
Thin order books mean you pay 5-10% above market to buy or sell below market. Low liquidity means waiting hours or days to find a counterparty. No local payment methods means you can’t trade at all.
How we test:
We monitor order books for BTC, ETH, and USDT against USD/EUR/GBP, measure spread between best buy/sell offers, attempt to fill orders of different sizes ($100, $500, $1K), and document time to match with counterparty. We calculate:
- Spread vs. spot market price
- Average time to match
- Number of active offers in our region
- Largest available trade size
5/5 example: 100+ active offers, <1% spread from spot price, instant matching for trades up to $5K, deep order book in 50+ countries
3/5 example: 20-50 offers, 2-3% spread, 10-30min matching for trades up to $1K, limited offers in smaller markets
1/5 example: <10 offers, 5-10% spread, hours to match, no offers in many regions, max trade size $200
3. Fees & Payment Methods (15% weight)
What we check:
- Platform trading fees (maker/taker, flat percentage)
- Payment method fees (bank transfer, cash, e-wallets, credit cards)
- Deposit and withdrawal fees (crypto and fiat)
- Hidden fees (payment processing, currency conversion)
- Payment method variety (SEPA, SWIFT, PayPal, Venmo, Cash App, Zelle, Western Union, cash in person)
- Payment speed (instant, same-day, 1-3 days)
- Minimum and maximum trade sizes
Why it matters:
A “zero fee” platform that charges 3% on PayPal transfers costs you $30 on a $1K trade. Limited payment methods mean you can’t trade if your bank blocks crypto. Slow payment methods (SWIFT 3-5 days) tie up funds.
How we test:
We execute trades using different payment methods (bank transfer, e-wallet, cash app), document all fees charged by platform and payment provider, and measure payment processing time. We calculate total cost for:
- $200 buy (crypto with fiat)
- $200 sell (crypto to fiat)
- Withdrawal to bank account
5/5 example: 0-0.5% platform fee, 10+ payment methods, free bank transfers, instant e-wallet payments, no hidden fees
3/5 example: 1% platform fee, 5 payment methods, $2 bank transfer fee, 1-2 day payment processing, minor conversion fees
1/5 example: 3%+ platform fee, 2 payment methods, $10+ withdrawal fee, 3-5 day processing, multiple hidden fees
4. Verification & Account Limits (15% weight)
What we check:
- KYC requirements (no KYC, email only, basic ID, full ID + address)
- Verification tiers and corresponding trade limits
- Time to complete verification
- Trade limits by tier (daily, weekly, monthly)
- New user restrictions (initial trade limits, probation period)
- Account restrictions (IP blocks, geographic limits, payment method limits)
Why it matters:
Strict KYC blocks users who want privacy. Low limits without KYC mean you can’t trade meaningful amounts. Slow verification (7+ days) delays trading. Regional blocks make the platform unusable.
How we test:
We create accounts at different verification tiers, document KYC requirements and processing time, test trade limits at each tier, and note any regional or payment method restrictions. We measure:
- Time to verify (email to full KYC)
- Trade limits at each tier
- Restrictions by region
- New user probation period
5/5 example: Optional KYC (trade up to $1K/day without, unlimited with full KYC), 1-hour verification, available in 100+ countries, no IP blocks
3/5 example: Email verification required ($500/day limit), ID required for $2K+/day, 24hr verification, some countries restricted
1/5 example: Mandatory full KYC for any trade, 5-7 day verification, $100/day limit even after KYC, many regions blocked
5. Platform Performance & Reliability (10% weight)
What we check:
- Platform uptime during testing period
- Order matching speed
- Website/app load time and responsiveness
- Downtime during high trading volume periods
- Error handling (failed payments, stuck trades)
- Mobile app stability (iOS/Android)
- API availability and reliability for advanced users
Why it matters:
Platform downtime when you need to release escrow means your funds are locked. Slow order matching costs you better prices. Frequent errors disrupt trades and require support intervention.
How we test:
We monitor platform uptime over 7-14 days, track order matching speed during peak and off-peak hours, test mobile app functionality, and document any errors or downtime. We measure:
- Uptime percentage
- Order matching latency
- Error frequency
- Mobile app crashes
5/5 example: 99.9% uptime, <1 second order matching, fast load times, stable mobile app, robust API
3/5 example: 98% uptime, 5-10 second matching, occasional lag, minor mobile bugs, basic API
1/5 example: Frequent downtime (95% uptime), 30+ second matching, slow load times, app crashes, no API
6. User Experience & Trade Flow (10% weight)
What we check:
- Offer search and filtering (payment method, currency, price, location, user rating)
- Trade initiation flow (steps to start trade, clarity of instructions)
- In-trade chat quality (messaging counterparty, file uploads for payment proof)
- Payment confirmation interface (marking payment sent/received)
- Trade history and record-keeping
- Offer creation process (for sellers)
- Mobile app vs. desktop experience consistency
Why it matters:
Confusing search means you can’t find good offers. Unclear trade steps lead to mistakes (paying wrong amount, wrong payment method). Poor chat means miscommunication with counterparty.
How we test:
We search for offers with different filters, initiate trades as buyer and seller, use in-trade chat to communicate, upload payment proof, mark payments sent/received, and review trade history. We document:
- Time to find suitable offer
- Clarity of trade instructions
- Chat functionality
- Trade history detail
5/5 example: Advanced filters (price, rating, completion rate), clear step-by-step trade flow, robust chat with file uploads, detailed trade history, mobile = desktop
3/5 example: Basic filters (payment method, currency), functional trade flow, simple chat, trade history list, mobile lacks some features
1/5 example: No filters, confusing trade steps, broken chat, no trade history, mobile unusable
7. Customer Support & Dispute Handling (5% weight)
What we check:
- Support channel availability (live chat, email, ticket system)
- Response time for urgent issues (stuck trade, dispute, locked funds)
- Dispute evidence requirements (screenshots, receipts, blockchain proof)
- Dispute resolution speed and fairness
- Appeals process if initial ruling is wrong
- Educational resources (how to trade safely, payment method guides, scam prevention)
- Community support (forums, Telegram, Discord)
Why it matters:
When a counterparty claims they paid but didn’t, fast support with fair arbitration saves your funds. Poor dispute resolution means you lose money to scammers. No education means new users fall for common scams.
How we test:
We submit support tickets for common issues (stuck trade, payment questions), initiate one test dispute (with platform approval), measure response and resolution time, and review dispute evidence requirements. We document:
- Support response time
- Dispute resolution timeline
- Quality of arbitration
- Educational content quality
5/5 example: 24/7 live chat with <10min response, disputes resolved in 24hrs, clear evidence requirements, appeals process, comprehensive guides
3/5 example: Email/ticket support with 12hr response, disputes resolved in 3-5 days, basic evidence requirements, limited guides
1/5 example: Email-only with 3+ day response, disputes take 7-14+ days, unclear evidence, no appeals, no educational content
How We Calculate Final Scores
Step 1: Rate each criterion on the 1-5 scale
Step 2: Multiply each score by its weight
Step 3: Sum the weighted scores
Example: Platform X
| Criterion | Score | Weight | Weighted Score |
|---|---|---|---|
| Escrow & Trade Safety | 5/5 | 0.25 | 1.25 |
| Liquidity & Order Book Depth | 4/5 | 0.20 | 0.80 |
| Fees & Payment Methods | 4/5 | 0.15 | 0.60 |
| Verification & Account Limits | 4/5 | 0.15 | 0.60 |
| Platform Performance & Reliability | 5/5 | 0.10 | 0.50 |
| User Experience & Trade Flow | 4/5 | 0.10 | 0.40 |
| Customer Support & Dispute Handling | 3/5 | 0.05 | 0.15 |
| Total | 29/35 | 1.00 | 4.30/5.00 |
Final rating: 4.30/5 (86%)
What We Don’t Rate
- Platform solvency or reserves – We’re not auditors. Focus on escrow for individual trades, not platform-wide financials.
- Legal compliance in all jurisdictions – P2P regulations vary widely; we focus on functional availability.
- Long-term platform survival – Platforms can shut down or exit scam; our ratings reflect current state.
- Tax reporting tools – Varies by jurisdiction; we focus on trade execution.
- Advanced features – Trading bots, bulk trading, API sophistication are nice-to-haves, not core functionality.
Why Trust Our Ratings?
We test platforms with real funds ($200), execute real trades as both buyer and seller, test dispute resolution with platform approval, and measure response times over 7-14 days. We don’t accept payment for ratings or modify scores based on partnerships.
Our process:
- Create account, complete verification (if required)
- Document KYC requirements and processing time
- Browse order books for BTC, ETH, USDT in our region
- Execute 1-2 buy trades ($50-100 each) using different payment methods
- Execute 1-2 sell trades ($50-100 each) to test full cycle
- Measure escrow lock/release time
- Test in-trade chat and payment proof upload
- Initiate one test dispute (with platform approval) to measure resolution
- Submit support ticket and measure response time
- Calculate total fees paid (platform + payment method)
- Compare liquidity and pricing to spot market
- Test mobile app functionality
What we don’t do:
- We don’t test platforms unavailable in our test regions
- We don’t execute large trades (>$500) to minimize risk
- We don’t initiate real disputes (we simulate or get platform approval)
- We don’t test illegal payment methods or activities
Questions?
If you think we’ve missed something or scored a platform unfairly, contact us at [email protected]. We update ratings quarterly or when platforms make major changes (escrow system updates, fee adjustments, new payment methods, security incidents, exit scams).
Last updated: January 2026
Next methodology review: Expected Q2 2026