When looking to trade cryptocurrencies in India, you have many options. There are literally hundreds of exchanges that offer (or claim to offer) crypto trading services in India. So, when looking to choose the right exchange to start your trading career, you might need to do some research based on your priorities.
For most people, transaction fee, speed and privacy are the top priorities when trading cryptocurrencies, which is why P2P crypto exchanges are the most popular these days. And with Shiftal and Paxful being the two leading P2P crypto exchanges in India, the choice seems an easier one.
Before we get into the details of the two top P2P crypto exchanges and compare them based on various features & benefits, let’s brush up on the basics.
A P2P crypto exchange is an exchange platform that allows users to buy/sell cryptocurrencies directly from/to each other, without needing an intermediary to process, verify or approve the transaction. Such exchanges are more secure and usually have a lower trade fee compared to regular crypto exchanges.
Shiftal vs Paxful
When talking about top crypto exchanges in India, Shiftal and Paxful are the two most frequently used names. The unique thing about these two exchanges is that they both are peer-to-peer, which automatically gives them an edge over regular cryptocurrency exchanges.
But, when you have to choose between the world’s two best P2P exchanges, things might get a little complicated.
But don’t worry. We are here to make things simpler by giving you an honest and transparent view of these two leading P2P crypto exchanges to help you make the best decision.
Shiftal P2P Exchange
Shiftal – a peer-to-peer exchange that allows crypto traders to find and trade directly with each other. As of now, it supports over 75 payment methods and allows trading of top cryptocurrencies including Bitcoin and ETH.
Paxful P2P Exchange
Paxful is another leading P2P crypto exchange that’s now used by hundreds of crypto traders in India and overseas. As a global crypto exchange, it supports hundreds of currencies and payment methods.
Shiftal vs Paxful – A quick overview
As you can see from the table, Paxful is an older and more experienced crypto exchange and has more users compared to Shiftal. However, Shiftal is a more innovative P2P exchange that was created to overcome the limitations of Paxful and other crypto exchanges. It has an impeccable user support system and is the first exchange to include the Callback Request feature for instant support during trades.
Shiftal is also one of the first crypto exchanges to have been approved and regulated by the European Association, which makes your data and money with Shiftal 100% secure.
Shiftal uses automated KYC verification, which is faster and more secure. Moreover, the platform supports over 70 payment methods, including popular options like UPI, NEFT, IMPS, and wallet transfer. It has a low transaction fee of 1% per trade, which is only levied from users who create new advertisements on the platform. There is No Fee charged for registering and buying and selling Bitcoin & Ethereum on Shiftal.
Paxful, on the other hand, has more payment options compared to Shiftal. So, if you fail to find your preferred payment option on Shiftal, you’ll most likely find it on Paxful.
To conclude, both Paxful and Shiftal are great options for P2P crypto trading. Depending on your preferred choices, you can opt for either one. While Paxful has more payment options and cryptocurrencies, Shiftal is relatively more secure and has a low trade fee.