Binance vs MEXC · P2P Head-to-Head

By live data: Binance leads on 24h volume ($253.50M vs $33.17M); Binance leads on active merchants; Binance leads on fiat coverage. The "better" exchange depends on which fiat you trade — see the per-fiat table above; the cheapest BUY price for your specific market may sit on the smaller-overall venue.

Both Binance and MEXC charge 0% trading fees on most P2P markets. Binance: 0% maker fee for verified merchants; 0% taker fee on most markets. KYC required (Lite + Full tiers). FIU-IND registered (India), VARA registered (UAE), MiCA-compliant (EU). MEXC: 0% trading fees on most P2P markets. KYC required above unverified limits. Operates from Seychelles.

Both use identical escrow mechanics — crypto is held by the platform until the seller confirms fiat payment. Counterparty risk is on the off-platform payment rail (UPI, IMPS, bank transfer), not the platform. Always check the merchant's completion rate (≥95%) and order count (≥1000) before trading, regardless of which exchange you pick.

Binance P2P is available in 100+ countries including India (FIU-IND registered, all features active), the UAE, Russia, Turkey, Nigeria, and the EU under MiCA. The US-restricted access since 2023; Binance.US doesn't offer P2P. Always check the country-availability list in your account settings.

Not for size. MEXC's P2P market is shallow compared to Binance, Bybit, and OKX — sufficient for retail trades up to ~$10-50K depending on fiat, rarely deep enough for $100K+ orders. Useful as a tertiary price reference rather than a primary venue.

Volume + ad counts come from each exchange's public P2P API (Binance, Bybit, OKX, HTX, KuCoin direct-crawled every 60s; rest reconciled via p2p.army's 30-min snapshot). The per-fiat liquidity column sums total ads (buy + sell) per market. Updated at most every 2 minutes.