OpenRate Research
Everything we've learned about P2P crypto in India
108 articles on tax, regulation, exchange specifics, payment rails, arbitrage, and how to avoid the scams that show up on every UPI receipt screenshot.
Bybit P2P in India — what's different from Binance?
Bybit's INR P2P is consistently 0.20-0.50 cheaper than Binance during peak hours. Smaller merchant pool but more aggressive pricing.
OKX P2P in India — niche but worth knowing
OKX has deep liquidity for UPI and IMPS payments and tightens during Asian-business hours. Smaller than Binance/Bybit but priced competitively.
KuCoin, HTX, Bitget — the second-tier Indian P2P venues
Smaller than Binance/Bybit/OKX but each has a niche. Here's when each is worth checking and what to watch for.
MEXC, Gate, BingX — the long tail of Indian P2P
Each has a tiny INR market. Useful for arbitrage windows, but depth is limited and merchant quality is uneven.
Best P2P crypto exchange in India 2026: Binance vs Bybit vs OKX
Binance is best for depth and large trades, Bybit for tightest pricing during peak hours, OKX for UPI specialists. All three are FIU-IND registered.
What about Indian-domiciled exchanges — CoinDCX, ZebPay, Mudrex?
Indian exchanges mostly don't do P2P now. Here's what they DO offer and when each is useful.
P2P fees on major exchanges — what you actually pay
Most P2P platforms charge zero platform fees. The real cost is the merchant's spread plus 1% TDS. Here's the full breakdown.
An exchange is blocked in India — should I use a VPN?
After the FIU registration wave, almost no major exchange is blocked. Using a VPN to access an unregistered one creates real legal exposure.
What does the 'gold/diamond' merchant badge actually mean?
Merchant badges encode trade history, completion rate, and verification depth. Here's how to read them and which signals matter.