July 13, 2024
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P2B Crypto Exchange Review: Honest User Insights

P2B Crypto Exchange Review: Honest User Insights

I love diving into user reviews to get the real scoop on popular platforms. In this P2B Exchange review, I’ll share what users think about their time with this exchange. P2B is a big name in crypto trading, sitting in the top 20 on CoinMarketCap. But, users have mixed feelings, pointing out problems like slow transactions, high fees, and poor support.

Some users, like Patrick Meijer, have had big issues with fund security and long waits to get their money. There are also complaints about scam-like actions, no updates, and even being locked out of their accounts. These problems make many question if P2B Exchange is trustworthy, even with its good rankings and features.

Let’s look deeper into these issues to understand the true experience of trading on this platform.

Key Takeaways

  • P2B is ranked among the top 20 exchanges according to CoinMarketCap rankings.
  • Despite its high ranking, users report issues like delayed transactions and high withdrawal fees.
  • Many users have experienced unresponsive support and disputes over fund security.
  • P2B offers security measures such as cold storage, but user experiences suggest otherwise.
  • Concerns about scam-like behavior and lack of communication are prevalent among users.

Introduction to P2B Exchange

P2B Exchange has quickly become a top name in the crypto world since starting in 2018. They focus on person-to-business (P2B) interactions, blending traditional business with digital assets trading. This unique approach makes them stand out in a crowded market.

Overview of P2B Exchange

P2B Exchange has seen huge growth, with trading volumes jumping from USD 57 million in December 2018 to USD 1.1 billion by December 2021. They support over 2000 crypto projects, appealing to a broad range of investors. Their engine can handle up to 10,000 trades per second, showing their strong technical skills.

They also offer a competitive edge with a flat trading fee of 0.20%, lower than the average. But, the BTC withdrawal fee is high at 0.0005 BTC, almost three times the average. Still, their focus on security is clear, with 96% of assets in cold wallets.

Features and Services

P2B Exchange caters to both new and seasoned traders with a range of features. They support trading in top cryptocurrencies like Bitcoin, Ethereum, and others. Their platform is easy to use, offering smooth navigation and access to market data.

The exchange provides 24/7 support in many languages, aiming to build trust with users. They also offer insurance against losses from security issues or system failures, showing their dedication to safety.

Mission and Vision

P2B Exchange aims to blend traditional business with the decentralized crypto world. They focus on creating a secure, innovative trading space. Their vision includes supporting new blockchain projects and working with liquidity providers to ensure smooth trading.

They are proactive in following regulatory standards and educating users about security. P2B uses real-time monitoring and intrusion detection to quickly spot and address suspicious activities. By working with cybersecurity experts, they stay ahead in protecting users in the fast-changing digital trading world.

Rating Percentage
5-star 27%
4-star 6%
3-star 12%
2-star 6%
1-star 49%

User Interface and Experience

When I first looked at the P2B Exchange, I noticed how it makes trading easy. It’s designed for both new and experienced traders. The platform shows what a trader-friendly design looks like. It has advanced tools and makes trading smoother.

Navigation and Usability

The P2B exchange navigation is all about putting the user first. It’s easy for beginners to use. The dashboard gives you fast access to markets, wallets, and your profile. The search function is strong, helping you find over 200 different cryptocurrencies quickly.

Design and Layout

P2B Exchange stands out with its clean design. The trading platform usability gets a boost from a smart color scheme and clear fonts. This makes the interface clean and easy to use. The mix of easy navigation and good design makes users happy and engaged.

Security Measures on P2B Exchange

P2B Exchange takes cryptocurrency exchange security very seriously. It wants to make sure trading is safe for everyone. They show this by using many security steps on the platform.

Two-Factor Authentication (2FA)

P2B really cares about cryptocurrency exchange security. They use Two-Factor Authentication (2FA) as a key feature. This makes it harder for hackers to get into accounts by asking for a second verification, usually through an app on your phone.

Cold Storage for Cryptocurrencies

P2B keeps a lot of its crypto in cold wallet storage. In fact, 96% of its crypto is in cold wallets. These wallets are offline and safe from hackers. This is a big part of P2B’s strong cryptocurrency exchange security plan.

Advanced Encryption Technology

P2B also uses encryption safeguards to keep things safe. They use top-notch encryption to protect user data and transactions. This helps make trading more secure and keeps data safe from hackers.

These steps, along with regular security checks, show how serious P2B is about keeping things secure. With over 30,000 users, their focus on cryptocurrency exchange security is key to their success.

Token Listings and Supported Coins

P2B Crypto Exchange is known for supporting many tokens and coins. This variety helps both project creators and investors by offering lots of options. It makes it easier to get involved with digital currency.

Popular Tokens and Coins

On P2B, users can find over 200 cryptocurrencies, like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). There are almost 400 cryptocurrency pairs available, giving users many choices for investing.

Listing Process

Listing a crypto token on P2B Exchange is strict and detailed. Exchanges look at things like project readiness, market need, and security checks. They also consider the tech and the team behind it. This makes sure only safe and strong projects get listed.

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Listing fees depend on the exchange’s fame, how much it trades, and what services it offers. P2B can take a few weeks to several months to list a project, based on how busy they are.

Innovative Blockchain Projects

P2B Exchange supports over 70 blockchains, like Ethereum and Solana. This lets new crypto projects grow and work with different blockchains. P2B also helps new tokens get noticed, making it a key place for blockchain innovation.

With over 2000 new projects launched, P2B is a key spot for new blockchain ventures. It’s a place where innovation can take off.

Criteria P2B Exchange Other Exchanges
Supported Cryptocurrencies 200+ Variable (50-200+)
Blockchains Supported 70+ Variable (20-50+)
Launchpad Projects 2000+ Variable (100-1000+)
Security Ranking Top-15 Varies
Customer Support Dedicated Variable

Trading Fees and Costs

The P2B Exchange has a clear fee structure for everyone. Since starting in January 2018, it has stood out with low trading fees and a strong trading engine. Let me explain how P2B Exchange costs might affect your trading.

Maker and Taker Fees

P2B’s main feature is its 0.20% fee for both makers and takers. This is common in the crypto world. This fee helps keep trading costs balanced. It’s simpler than other exchanges with changing fees, making it easier for users to plan their trades.

Additional Charges

There are extra fees for certain actions on P2B Exchange. For example, withdrawing BTC costs 0.0005 BTC, USD withdrawals have a 1% fee, and EURO withdrawals are 5% more. Knowing these fees is key when planning your trades.

Fee Calculator

P2B offers a fee calculator to help users. This tool lets traders see their costs before they trade. By entering your trade details, you can see the total costs, including fees and any extra charges.

Knowing the fees at P2B helps you manage your investments better and make smarter choices.

Liquidity and Trading Volumes

Trading liquidity is key when looking at cryptocurrency exchanges. P2B shines with its strong numbers. For example, it saw a 24-hour spot trade volume of $827.4 million, making it a top exchange.

Market Depth

Market depth is crucial for traders. It shows how well an exchange can handle big orders without big price changes. P2B has a deep market with 194 trading pairs, like BTC/USDT and ETH/USDT. This makes it a top-10 exchange globally, showing it can keep prices stable.

Here’s a look at some of their trading pairs and their 24-hour volumes:

Trading Pair 24-Hour Volume Price Fluctuation
BTC/USDT $412.32M Low
ETH/USDT $100.20M Moderate
BNB/USDT $85.05M Low

Order Book Analysis

The order book shows how well trades are executed on P2B. It can handle up to 10,000 trades per second. This means smooth transactions even when trading is busy. High-frequency traders will find this important for avoiding big price changes.

Also, the platform saw a huge $1.31B in volume over the last 24 hours. This shows P2B’s reliability and liquidity.

In summary, P2B is great at keeping trading liquid and deep. Its strong order book means trades are executed well and with little price change. This makes trading on P2B a better experience.

Customer Support Experience

Customer support on the P2B Exchange gets mixed reviews. Many users like the 24/7 help offered by the platform. But, a closer look shows a more complex picture.

Availability and Responsiveness

P2B Exchange offers support all day, every day. This is great for traders, especially with 10,000 trades per second. You can get help anytime, which is key.

But, the speed of responses can be slow. Some users say they waited too long for help, which is bad for urgent trades.

User Feedback

Feedback on P2B’s support is mixed. Here’s a quick look at what users think:

Rating Percentage
5-star 27%
4-star 6%
3-star 12%
2-star 6%
1-star 49%

27% of users love P2B and gave it 5 stars. But, 49% gave it the lowest rating. This shows big differences in how people feel about the support.

Communication Channels

P2B offers many ways to get help. You can use:

  • Live Chat: Right on the P2B website for quick help.
  • Email Support: For issues that need more detail.
  • Social Media: P2B is also on social platforms for more ways to communicate.

Even with these options, some users aren’t happy. This shows that while P2B has good support plans, how well they work can vary a lot.

Deposits and Withdrawals

P2B Exchange has grown a lot since starting in 2018. It now has over 30,000 users and lists more than 2000 cryptocurrency projects. The platform makes deposits and withdrawals easy, supporting many methods and processing transactions fast. Let’s look closer at how it works.

Supported Payment Methods

Users can deposit using cryptocurrency or fiat, thanks to external providers. This lets both digital and traditional finance fans join in. With nearly 200 pairs, including Bitcoin (BTC) and Ethereum (ETH), there’s a lot to trade.

Transaction Speed

P2B is known for fast withdrawals, up to $1000 a day without ID verification. But, some users have faced delays, especially for big withdrawals or when more verification is needed. So, while small withdrawals are quick, be ready for a wait with larger ones.

Fee Structure

P2B has a trading fee of 0.1%, which is lower than some others like Coinbase Advanced. But, the BTC withdrawal fee of 0.0005 BTC is higher than usual. Here’s a quick look:

Transaction Type Fee Structure
Trading 0.1%
BTC Withdrawal 0.0005 BTC
ETH Withdrawal 0.01 ETH
USD Deposit 4% of the deposited amount (min $10, max $100)
Purchased Deposits 0.2% fee in addition to the deposit

Even with higher withdrawal fees, P2B still offers chances to make money, like earning pools and staking programs. It also has strong security, using encryption, two-factor authentication, and cold storage for 96% of assets. This keeps users’ funds safe for deposits and withdrawals.

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User Reviews and Ratings

Looking into what users say can give us a better look at P2B Crypto Exchange. I checked out different sources to find out what people think. I looked at the ratings, complaints, and good things users say about P2B Exchange.

Aggregated Ratings

P2B Crypto Exchange has mixed ratings from users. On Trustpilot, it scores 3.2 stars. On CryptoCompare, it ranks 47th and gets a “B” rating. Overall, it scores 4.0 out of 5 from various reviews. But, ratings can change based on many things, like how happy users are and expert opinions.

Common Complaints

Even with good ratings, users have big concerns. Over 4 complaints have been made about P2B Crypto Exchange. These include:

  • Poor customer support
  • Payment delays
  • High fees
  • Lack of transparency about leadership
  • Aggressive sales tactics

P2B is in the Orange Compliance list, which questions its KYC process. It’s not regulated or licensed, which worries users. Some think it might be a scam and suggest filing a chargeback to get back money lost.

Positive Feedback

But, many users have had good experiences too. They like the variety of payment options like Advcash and MoonPay. The exchange supports 194 trading pairs and 86 cryptocurrencies, including BTC and ETH. The 0.00% Taker and Maker Fee is also a plus.

Looking at both the good and bad feedback helps us understand P2B Exchange better. It gives a full view of what to expect from this exchange.

Pros and Cons of Using P2B Exchange

Choosing a cryptocurrency exchange can be tough, especially when looking at the good and bad sides. Here, I’ll talk about the benefits of P2B Exchange and some of its downsides.

Advantages

P2B Exchange is easy to use, great for both new and seasoned traders. It supports a wide range of assets, including Bitcoin, Ethereum, and many altcoins. The fees are clear, with a flat 0.20% for trades and 0.0005 BTC for Bitcoin withdrawals.

Security is a top priority at P2B, with strong measures like 2FA, cold storage, and regular security checks. It also meets strict rules like KYC and AML, building trust with users.

The exchange offers many trading pairs and high liquidity for fast trades. It has educational tools like guides and webinars to help users learn more about trading.

The mobile app is easy to use, making trading on the go simple. Customer support is reliable, offering help through live chat and email.

Drawbacks

But, there are some downsides to consider. P2B’s customer service has gotten some criticism, with slow responses and limited support. This might make some users look elsewhere for better service.

Some users worry about account restrictions and scam fears, which could affect trust in the platform. These issues might keep some from using P2B for a long time.

Even though P2B accepts many fiat currencies, small traders might find the fees a bit high. This could be a drawback for those with low trading volumes.

Looking at the pros and cons helps users decide if P2B Exchange fits their trading needs and likes.

Aspect Advantages Drawbacks
User Interface Easy to navigate N/A
Assets Supported Wide range, including Bitcoin and Ethereum N/A
Fee Structure Transparent, flat 0.20% trading fee Possibly high for small traders
Security Robust measures, 2FA, cold storage Some unexplained account restrictions
Customer Support Live chat, email support Reported delays and inadequacies
Mobile Accessibility User-friendly trading app N/A
Educational Resources Guides, tutorials, webinars N/A

Comparison with Other Exchanges

Looking at the P2B Exchange competition is key. We’ll see what makes it stand out from other top crypto platforms. This comparison will focus on the main differences and how P2B compares in the market.

Key Differences

P2B Exchange started in January 2018 and quickly became known for its unique features:

  • Diverse Offerings: P2B supports over 2000 unique crypto projects and works with more than 24 blockchains. This includes Ethereum, Tron, Solana, Omni, Waves, Cardano, and Ripple. This wide selection puts P2B ahead in a crypto exchange comparison.
  • Efficiency: The platform can handle up to 10,000 trades per second. This makes trading fast and smooth.
  • User Support: P2B offers 24/7 customer support in major languages. This is great for users all over the world.
  • Accessibility: P2B doesn’t block US investors, making it open to a wider audience.

Competitive Analysis

It’s important to understand where P2B stands in the market. Here’s how it compares with some top players:

Exchange Launch Year Security Ranking Trading Volume Growth Crypto Asset Support Trading Fees
P2B 2018 Top 15 (88/100) according to CER From USD 57 million in 2018 to USD 1.1 billion in 2021 Over 200 cryptocurrencies, 24 blockchains 0.20%
Kraken 2011 Second most secure (Cert.live) USD 200 million daily average Over 50 cryptocurrencies 0.16%/0.26%
Bybit 2018 N/A USD 7.5 billion daily average Multiple tradable assets 0.075%/0.025%

Security: P2B is proud to store 96% of crypto in cold wallets. It’s ranked 12th most secure by CER ratings. Kraken, on the other hand, has never been hacked, a big achievement.

Unique Proposition: P2B stands out with its support for 24 blockchains and a wide range of crypto assets. This makes it a strong player in the market.

Cost Efficiency: P2B has a flat trading fee of 0.20%. This is cheaper than the industry average. However, its BTC withdrawal fee is higher.

Future Prospects and Developments

The P2B Exchange is set to grow with a detailed roadmap. It focuses on making things easier and more user-friendly. The exchange plans to add new features to improve its platform.

Upcoming Features

P2B Exchange is working on better security and ways to keep users interested. Here are some new features to look forward to:

  • Enhanced Security Protocols: Soon, the exchange will use strong anti-fraud tools and encryption to protect your money.
  • Improved User Interface: The design of the site will get a refresh for easier navigation, even for new users.
  • Mobile App Integration: A mobile app is coming, letting you trade and check your investments anywhere.
  • Expanded Asset Listings: More types of crypto assets will be added, giving you more options for investing.
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Planned Upgrades

Big upgrades are coming to make the platform better and faster. Here’s what’s in store:

  • Blockchain Integration: Using the latest blockchain tech for faster transactions and clear information.
  • Fee Structure Optimization: Fees will be made more competitive, offering great value for all traders.
  • Liquidity Enhancements: Increasing the amount of money available for trading to make it smoother.
  • Customer Support Augmentation: Adding more support options and improving response times to help more users.

P2B Exchange is also looking into partnerships and new financial tech. This will help it stay ahead with new features. The excitement around these updates shows the exchange’s dedication to offering great value and reliability to its users.

Comparison P2B Exchange Competitor 1 Competitor 2
Security Multi-layer encryption Basic encryption Moderate encryption
User Interface Intuitive navigation Complex layout Moderate ease of use
Supported Assets Diverse and expanding Limited options Moderate range
Liquidity High liquidity pools Low liquidity Average liquidity
Fees Competitive Higher Average

Conclusion

As we wrap up our look at P2B Exchange, it’s clear the platform has many strong points. It ensures security with Two-Factor Authentication (2FA) and keeps assets in cold storage. This means users can feel safe about their investments. P2B Exchange also follows strict rules for Know Your Customer (KYC) and Anti-Money Laundering (AML), building trust with users.

User reviews show a mix of opinions. While 27% gave it a top rating, and 6% a good one, 49% only gave one star. This shows some like the clear fees, good liquidity, and learning tools. But, others want better customer support and clearer fees. Indeed, 55% had bad experiences, pointing out what needs to get better.

In my final thoughts, I think P2B Exchange has a lot going for it but must work on some issues. It’s great that it aims for a secure and easy-to-use platform. Improving in these areas will help it stand out in the crowded crypto exchange market. Listening to user feedback will be crucial for P2B’s future success.

FAQ

What issues have users experienced with P2B Exchange?

Users have faced big problems with P2B Exchange. These include delayed transactions, high fees, and poor customer support. Some think the platform acts like a scam, freezes assets, and doesn’t communicate well.

What services does P2B Exchange offer?

P2B Exchange helps both new and experienced traders. It’s easy to use and offers lots of market data. It also supports many popular tokens and coins after a careful check.

How secure is P2B Exchange?

P2B Exchange focuses on security with 2FA, cold storage, and encryption. It regularly checks for security risks to keep the platform safe.

What are the trading fees and costs on P2B Exchange?

Trading on P2B Exchange has maker and taker fees and extra charges in certain situations. Some say the fees are too high, making it hard to understand the costs. There’s a fee calculator to help estimate costs before trading.

What is the user experience like on P2B Exchange?

The platform is easy for beginners but also has tools for advanced traders. However, some users have had trouble with customer support and delays in transactions, which can make using the platform frustrating.

How does P2B Exchange support innovative blockchain projects?

P2B Exchange carefully lists projects to protect traders from bad ones. It supports new blockchain projects that could bring new value to the crypto world.

How does P2B Exchange handle deposits and withdrawals?

P2B Exchange allows many ways to deposit and withdraw funds. But, users often face delays in getting their money and question the fees, which can be unclear.

How reliable is the customer support on P2B Exchange?

Many users find the customer support unhelpful and slow to respond. The platform offers different ways to get help, but users feel the service doesn’t meet their expectations.

What are some common complaints from P2B Exchange users?

Users often complain about delayed trades, high fees, and bad customer support. They also worry about the platform being a scam and having their assets frozen without explanation.

What are the advantages and drawbacks of using P2B Exchange?

P2B Exchange is easy to use and has a wide range of coins. It also has features to make trading better. But, it has poor customer service, scam suspicions, and account restrictions that worry users.

How does P2B Exchange compare to other cryptocurrency exchanges?

P2B Exchange aims to be user-friendly and offer many trading options. But, it faces challenges with security issues, poor customer service, and unclear fees. This makes it hard to compete with other exchanges.

What future developments are planned for P2B Exchange?

P2B Exchange plans to improve user experience and security. Success in these areas will be key to winning trust in the crypto community and addressing current issues.
About Author

Thomas Carter

Thomas Carter is a seasoned cryptocurrency and finance expert with over a decade of experience in the digital assets space. Renowned for his insightful analysis and strategic investment approaches, Thomas has helped countless individuals and businesses navigate the complexities of the crypto market. As a thought leader, he frequently contributes to leading financial publications and speaks at global conferences, sharing his deep knowledge and forward-thinking perspectives on blockchain technology and digital currencies. His dedication to advancing financial literacy and innovation makes him a trusted authority in the industry.