P2P exchange

Peer-to-peer (P2P) exchanges are marketplaces where users post offers to buy or sell cryptocurrency, and counterparts accept the offers and settle directly with each other — typically using bank transfer, cash deposit, or other off-platform fiat rails. The exchange platform escrows the crypto and releases it once payment is confirmed, but never custodies fiat. Major P2P platforms include Bisq (decentralized), AgoraDesk, Hodl Hodl, RoboSats (Lightning-only), and the now-discontinued LocalBitcoins.

For offshore hosting customers, P2P exchanges are the most KYC-resistant path to acquire crypto. Most platforms require email-only signup; some require ID at higher purchase volumes (regional regulations). The trade-off vs centralised exchanges: more friction (matching with a counterparty, verifying receipt of payment), better privacy (no central database of customer KYC linked to wallet addresses).