Are you a simple or a complex trader? If you're the former, I might have a platform that emphasizes simplicity while giving you the chance to launch your personal crypto project. So, let's take a look at what that platform is in this P2B review.
Formerly P2PB2B, the platform has rebranded with a simpler name, P2B, further highlighting its ode to simplicity. Is it a good and trusted exchange? I have tried and tested the platform myself, and I'm ready to share the pros and cons in this P2B exchange review.
If you're a trader who prefers the middle ground between simplicity and complexity, try out Binance, Bybit, or Kraken. They offer a range of trading features and are compliant with regulatory standards across regions.
Verdict at a glance: P2B brands itself as a simple crypto centralized exchange, and it does prove just that, with the kicker of a project launch support. Users have reported a smooth experience throughout using the platform, but some complaints have been filed regarding locked assets and withdrawal delays. Furthermore, the regulatory status of P2B in some regions is questionable.
Pros
- Standardized security features
- User-friendly tools for buying and trading cryptocurrencies
- Supportive crypto project launch team
- Diverse earning opportunities
Cons
- Absence of clear regulatory status
- Lack of advanced trading features
- User reports on locked assets and withdrawal delays
Table of Contents
- 1. What is P2B?
- 2. P2B Review: PROS
- 2.1. Standardized Security Measures
- 2.2. Smooth Buying and Trading Experience
- 2.3. Launch Your Crypto Projects With Ease
- 2.4. Multiple Earning Opportunities
- 3. P2B Review: CONS
- 3.1. Regulatory Concerns and Compliance Risks
- 3.2. Lack of Advanced Trading
- 3.3. Locked Assets and Withdrawal Delays
- 4. P2B Fees
- 5. How to Use P2B?
- 5.1. How to Register to P2B?
- 5.2. How to Buy Cryptocurrencies on P2B?
- 6. Conclusions
What is P2B?
P2B is a cryptocurrency trading platform founded by Valerii Solodovnyk, the former CFO at Next Chain. He launched P2PB2B in 2008 and rebranded the platform to P2B in 2022. Throughout the years, this crypto exchange has gained mixed user P2PB2B reviews.
Many users praised the team’s professionalism when handling the token listing. They received help from P2B at every stage, from preparation to launch. As new projects, they were also featured on P2B's homepage, which helped increase their visibility and attract potential investors.
The majority of crypto project owners also appreciate P2B because the platform operates freely without any limitations, tickets, or token ownership. At the time of writing this P2B review, its launchpads have collectively raised over $10 million, and some have achieved success with over $2 million in funding.
Besides token listing, crypto enthusiasts can use the P2B exchange to trade and buy tokens. The CEX features a diverse selection of cryptocurrencies and trading pairs, making it an attractive option for traders seeking variety. With $1.5 billion in daily trades, the P2B exchange demonstrates its popularity and high liquidity.
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P2B Review: PROS
What does the P2B exchange have to offer? Let’s have a closer look at the pros, focusing on the features and benefits that make it an attractive option for cryptocurrency traders in this section of my P2B review.
Standardized Security Measures
From my observation, P2B implements key security features of a good crypto exchange. For example, the platform develops multiple layers of protection to safeguard user funds, data, and transactions.
P2B uses standardized technologies to improve security, like mobile verification, mandatory two-factor authentication (2FA), and anti-phishing code implementations. All transaction data is protected using end-to-end encryption to prevent unauthorized access.
Moreover, users’ funds are stored in a cold wallet, helping to protect deposited assets from risks. Well, cold wallets are offline storage solutions for cryptocurrencies (some popular examples in the market are Ledger Nano X and Trezor Safe 5), providing a high level of security.
Another security measure it uses is penetration testing. It’s a method for identifying potential security vulnerabilities in networks, applications, and systems that could be exploited by hackers.[1] It simulates real-world attacks through various techniques, like network scanning, social engineering, and brute force attacks that systematically test multiple password possibilities.
Besides penetration testing, P2B also hosts a bug bounty program that rewards security researchers for $50 to $1,000, depending on the impact of the discovered vulnerability. This initiative demonstrates P2B's commitment to maintaining a secure environment and encourages community participation in enhancing its security.
If you're still worried that your assets could be at risk, P2B has an insurance fund that covers losses in case of security breaches. Overall, it looks like the P2B crypto exchange adheres to industry-standard security measures, providing users with a protected trading environment.
Smooth Buying and Trading Experience
Other than providing security measures, this platform has several aspects worth highlighting in this P2B exchange review that may help improve your trading experience.
First of all, it has an intuitive interface with easy navigation. The navigation menu at the top of the page is well-organized, but I particularly like what the team has done to the footer. It categorizes links for crypto project owners and traders so you can instantly find what you need.
If you go to the “Buy Crypto” page, you’ll see a buying form along with the payment details, providing a straightforward process to purchase an asset. P2B supports more than 40 fiat currencies, including USD, SGD, and GBP. Although the list sounds accommodating, it’s still not as extensive as what crypto giants like Binance and Bybit offer (over 60 currencies, to be exact).
Another limitation found on this page is the relatively small number of cryptocurrencies available for purchase. There are only nine options featuring some popular ones, like BTC, ETH, and USDT. This platform actually has more than 900 markets on trades, but these are available only on the spot trading page, accessible by clicking the “Trade” menu.
This page features the typical layout of a trading page, including the order book, chart, and other necessary functionalities. On this page, you can have more trading options like limit/market orders and sell, providing you with greater flexibility and control over your trades.
Additionally, the trading interface on the P2B exchange offers a set of helpful features to analyze market trends and execute trades. The customizable layout lets traders personalize their trading experience by selecting different indicators, timeframes, and appearance settings.
Another notable advantage worth highlighting in this P2B exchange review is the availability of customizable drawing tools, which can be accessed by dragging the toolbar. This toolbar provides various drawing features for technical analysis, including lines, shapes, trend lines, and pitchforks.
Note that you need to make a deposit to start trading on this page. You can fund your P2B account using either fiat currency (USD, EUR, GBP) or crypto assets (which have more options than the “Buy Crypto” page). If you choose to deposit using cryptocurrencies, select a network and send the funds to the provided payment address.
The funds you’ve bought with the card will be credited to your main account, which then you can transfer to the trading account. Afterward, you can start trading, and you won't have to pass a know-your-customer (KYC) verification since it's optional. This makes P2B one of the top candidates for no-KYC crypto exchanges.
Still, non-verified users may have limitations in accessing some of the P2BB2B exchange’s features. An example is not being able to withdraw assets of more than $1,000 per day. Also, it’s important to note that P2B doesn’t support KYC verification for certain countries, like Afghanistan, Cuba, Iran, and North Korea.
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Launch Your Crypto Projects With Ease
P2B claims to be one of the best launchpad and CEX listing sites, especially when it features over 2,000 new crypto projects. At the time of writing this P2B exchange review, the platform has already raised over 11,500,000+ capital for various projects, funded 400 projects, and conducted 600 launchpad sessions.
Several noteworthy fundraising campaigns held by P2B are Steed (STD), Phaeton (PHAE), and ByteDex (BEXT), which have collectively raised over $2.5 million. Many user P2B reviews also mentioned that the team provided a supportive experience throughout the listing process. As a result, P2B has become a popular choice for projects seeking a smooth and efficient launch.
Moreover, the P2B exchange operates on a transparent and inclusive model, eliminating barriers to entry for both projects and investors. Unlike some other launchpads that require users to purchase tickets or tokens to participate, P2B doesn't have that restriction. Anyone can apply to launch or invest in a project without needing to acquire additional tokens or assets.
Moreover, there are no specific limitations or restrictions on the types of projects that can be listed on P2B. This allows for a diverse range of projects to be featured on the platform.
The P2B crypto exchange listing process typically involves these five steps:
Step 1: The project owner submits essential information to P2B, such as the token or coin’s logo and links to the website and social media;
Step 2: The P2B team offers a personal cross-functional consulting team with 15 experts from different areas, including an account manager;
Step 3: The team makes an announcement of the upcoming listing that includes your token or coin while it’s being tested on the exchange;
Step 4: Once the test is complete, the P2B team releases a listing announcement. At this point, the marketing specialists begin to implement a personal crypto marketing strategy;
Step 5: The project owner gets early support from P2B, aiming to increase the liquidity and trade volume of the launched token or coin.
Furthermore, P2B is a unique cryptocurrency exchange that offers both Initial Exchange Offering (IEO) and Initial Dex Offering (IDO) launchpads. The platform claims that this combination cannot be found elsewhere. The P2B's IEO launchpad, specifically, is a convenient way to connect with new investors and raise funds for your crypto project prior to its official listing.
Meanwhile, the P2B's IDO launchpad allows crypto projects to attract new investors without requiring any registration. Unlike traditional IEOs, IDOs are built on smart contracts, ensuring a more private and decentralized fundraising process. This freedom and privacy make IDOs an attractive option for crypto startups seeking to raise capital.
Besides the helpful project launch services, P2B integrates 24 of the most popular blockchains globally for crypto coin listing, such as Ethereum, Solana, and Ripple. Additionally, it supports over 30 custom blockchains. This diverse selection of blockchains ensures that P2B can accommodate projects from various ecosystems.
Another benefit I want to highlight in this P2B review is that the platform ensures deposited funds remain untouched and stored solely in customer wallets. Its business model prevents P2B from accessing, using, or manipulating customer funds for profit. Thanks to that, user assets will always be available for withdrawal, giving customers full control over their funds.
Multiple Earning Opportunities
In addition to trading and project launches, P2B provides multiple ways to earn passive income on the side while increasing the value of your holdings under different market conditions.
On the P2B exchange, there are various ways to increase your earnings:
- Locked earning
- Flexible earning
- Earning pool
Locked earning enables you to deposit and hold cryptocurrencies, like BUSD and USDT, to get a profit at the end of the earning period. The available programs are within 7, 14, 30, and 90-day terms. Typically, longer holding periods will yield higher interest rates. While there’s no minimum deposit for this earning method, you can’t withdraw your assets until the program ends.
Flexible earning, on the other hand, lets you get profit daily. It’s also possible to close your earning program any day and withdraw your crypto instantly with this method, but there's a minimum amount.
While you can decide the cryptocurrency options with flexible and locked earnings, P2B's earning pool only supports certain coins with time-limited fixed-term staking options. On the earning page, there will be a short list of tokens or coins with their annual interest rates, activity duration, and deadline. That way, users can easily compare and choose the most suitable staking options based on their investment goals and risk tolerance.
Another way to earn more on the P2B crypto exchange is by joining a trading or holding competition. The trading competition rewards users for gathering trading volumes, while the holding competition allows users to get profits by simply holding tokens in their accounts. The longer they hold tokens, the higher the rewards will be, removing the need for active effort.
Users can also register their accounts for airdrop passes. A cryptocurrency token airdrop is a method of distributing ownership rights in a blockchain project to a community at no cost[2], which can be worth thousands of dollars. At times, you should also purchase a minimum amount of the tokens indicated on the airdrop card to get rewards.
Note: you need to get verified to participate in all the earning events P2B holds.
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P2B Review: CONS
While the platform has several attractive features, it's important to acknowledge the potential drawbacks that user P2B reviews have mentioned. This section will discuss the negative aspects of the exchange and suggest potential alternatives, providing you with a comprehensive understanding of the challenges you may face.
Regulatory Concerns and Compliance Risks
While P2B may have certain security measures in place, its lack of clear regulatory oversight raises concerns. At the time of writing this P2B review, the platform lacks licensing or registrations in major jurisdictions, like the UK's Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), and USA's Financial Crimes Enforcement Network (FinCEN).
Those regulatory bodies play a crucial role in protecting consumers from fraud, market manipulation, and other financial risks, thus ensuring that crypto exchanges operate fairly and transparently. Additionally, P2B's privacy policy fails to mention GDPR, which raises concerns about its compliance with European data protection laws. Such omission could potentially expose P2B and its users to legal and financial risks.
In contrast, Binance is a leading cryptocurrency exchange that operates under strict regulatory frameworks in various jurisdictions. It has obtained licenses from the Malta Financial Services Authority (MFSA) and Virtual Asset Service Provider (VASP). Therefore, if you prioritize regulatory compliance and user protection, Binance might be a more suitable choice. Alternatively, if you're in the US, you might want to check out Kraken.
Lack of Advanced Trading
The P2B crypto exchange may stand out for its user-friendliness, but it falls short in comparison to some of the industry giants when it comes to advanced trading options.
One significant drawback is the lack of futures trading. Futures contracts allow traders to speculate on the future price of a cryptocurrency without owning the underlying asset. As such, futures trading can be a valuable tool for hedging risks or generating additional profit. However, P2B does not currently offer this feature.
While P2B is a suitable option for basic spot trading, traders seeking a wider range of advanced features, such as derivatives trading, might consider industry giants like Binance, Bybit, or Kraken.
Locked Assets and Withdrawal Delays
Many user P2B reviews have reported significant delays in withdrawing funds, particularly for larger transactions. In more severe cases, some users have experienced their assets, such as XEM, and accounts being locked or delisted without clear explanations or solutions.
Sadly, these reports corroborate as P2B's customer support has been criticized for its slow responses and inability to resolve issues effectively. In my experience, the platform's support was pretty quick, but I only asked for general information.
While individual experiences may vary, it's important to consider these potential drawbacks before choosing P2B for your cryptocurrency trading needs.
P2B Fees
Next up, I’ll talk about the pricing structure of the P2B exchange to help you understand the costs associated with using the platform. While many user P2B reviews have praised it for its competitive fees, it's essential to examine the specific details to make an informed decision.
Trading Fees
P2B charges a variable trading fee, depending on your activity on the platform. The fee starts at 0.2% for both makers and takers but can be reduced to 0.1% for makers and 0.01% for takers once the trading volume increases.
The platform works with several payment gateway providers, allowing users to pay with credit or debit cards and crypto wallet transfers. Expect fees ranging between 3.5% to 5% of the transaction value. There's also a minimum fee of $10 for all transactions, so smaller transactions will have higher percentage fees. If you're using a fiat currency other than USD, additional fees may also apply.
Deposit and Withdrawal Fees
Deposit fees vary based on the specific cryptocurrency you're purchasing, as the underlying blockchain or smart contract determines these fees. For detailed information, refer to P2B's deposit page.
Moreover, withdrawal transactions to crypto addresses outside P2B typically incur transaction fees. Those expenses will not be paid to the exchange but to miners or validators responsible for processing such transactions. The amount you have to pay is dynamic, depending on network conditions and can fluctuate without notice due to network congestion, among other factors.
Overall, P2B's fee structure is quite competitive, especially if you're a high-volume trader. However, users should be aware of additional costs associated with deposits, withdrawals, and specific cryptocurrencies. Careful consideration of these factors is essential when evaluating the platform's overall pricing.
How to Use P2B?
As I've touched on the platform's features, fees, and potential drawbacks in the earlier parts of my P2B review, let's dive into the process of using this exchange. This guide will walk you through the essential steps to get started on the P2B crypto exchange.
How to Register to P2B?
Getting started on the P2B exchange is a straightforward process. So, let's see how you can create an account on the platform.
Step 1: Go to the P2B website and click the “Sign Up” button in the upper right corner.
Step 2: Enter your email address and create a password for your account. At the time of writing this P2B review, there are no social logins, so signing up using an email address is the only way.
Step 3: Select your current location of residence.
Step 4: Read and check the “Terms of Service and Privacy Policy” and click the “Sign Up” button.
Step 5: Check your inbox to see a verification email and click the “Confirm Email” button displayed on the message to verify your email address.
Step 6: Once confirmed, you'll be redirected to the login page. Enter your email and password once more, and then input the 6-digit verification code from your inbox.
Once you've verified your email, you'll be logged into your P2B account and ready to start trading, even without completing the KYC verification. Still, completing KYC may provide additional benefits, such as higher withdrawal limits and access to certain features.
How to Buy Cryptocurrencies on P2B?
Now that you have a P2B account, let's explore the process of buying cryptocurrencies on the platform. You can purchase a crypto using debit/credit cards or crypto wallet transfers. In this P2B review, I’ll show you how to do it using a credit card.
Step 1: Log in to your P2B account and navigate to the “Buy Crypto” page from the top menu bar.
Step 2: Select the fiat currency to spend and the cryptocurrency to buy.
Step 3: Choose the payment provider and check the "I have read and agree to the disclaimer" box.
Step 4: Once done, you’ll be redirected to the provider’s page for payment, so simply follow the on-screen instructions. The provider may request identity verification before processing your payment.
By following those steps, you can easily purchase cryptocurrencies on P2B using your credit card. Remember to review the payment provider's terms and conditions. And, if you're looking for a wider selection of cryptocurrencies, consider checking the trading page.
- A very well-known crypto exchange platform
- More than 500 different cryptos available
- Two-factor authentication
- Over 500 different cryptocurrencies available
- Strong security
- Small withdrawal fees
- Very low trading fees
- Exceptional functionality
- Mobile trading app
- Very competitive trading fees
- An intuitive mobile app
- Up to 100x leverage available
- Secure and reliable
- Low fees
- A good amount of fiat currencies accepted
- Reputable exchange
- Multiple fiat currencies are accepted
- Relatively low trading fees
Conclusions
P2B (formerly P2PB2B) stands out as a reliable platform for launching new crypto projects. Many user P2B reviews have praised its user-friendly interface, support for multiple blockchains, and successful track record in fundraising, making it a viable option for projects seeking exposure and capital.
However, when it comes to trading features, P2B may fall short compared to some of the industry giants. While it offers basic trading functionalities, traders seeking advanced options like futures and a wider selection of cryptocurrencies may find P2B limiting.
If your primary focus is on launching a crypto project or buying top cryptocurrencies, P2B could be a suitable choice. However, if you're looking for a platform with a broader range of trading features and a wider selection of cryptocurrencies, you may want to consider Binance, Bybit, or other exchanges.
The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.
Scientific References
1. M. Alhamed, M. M. H. Rahman: 'A Systematic Literature Review on Penetration Testing in Networks: Future Research Directions';
2. D. W. E. Allen, C. Berg, A. M. Lane: 'Why Airdrop Cryptocurrency Tokens?'.