Binance Exchange is Winding Down Support for P2P Cash Zone

Binance Exchange is indeed shutting down its P2P Cash Zone, a feature that allowed users to trade cryptocurrencies for cash in person with registered merchants. The closure was announced via emails to users on March 3, 2025, with the service set to wind down fully by March 31, 2025, at 23:59 UTC. Users can place new orders until March 25, 2025, at 23:59 UTC, after which no new transactions will be accepted, though existing orders will still process until the final cutoff.

Launched in 2023, the P2P Cash Zone let users exchange crypto for over 100 local currencies through approved merchants with physical stores, targeting regions with limited banking access. Binance stated the decision reflects a shift to “focus on core services and develop innovative solutions,” though no specific reason—like regulatory pressure or low usage—was detailed.

The shutdown doesn’t affect Binance’s broader P2P platform, where online payment methods (bank transfers, e-wallets) remain available with over 700 options. Users reliant on cash trades are encouraged to adapt to these alternatives. The move could hit liquidity for cash-based traders, particularly in unbanked areas, but Binance hasn’t signaled a full P2P unwind.

With Binance shutting down its P2P Cash Zone by March 31, 2025, users seeking peer-to-peer (P2P) alternatives for trading crypto, especially for cash or local fiat options, have several viable platforms to consider. Binance’s broader P2P platform remains active with over 700 online payment methods, but the Cash Zone’s closure—focused on in-person cash trades—prompts a look at other options.

Here’s a detailed rundown of P2P alternatives based on their features, strengths, and relevance

Binance P2P (Non-Cash Zone) While the Cash Zone is ending, Binance’s core P2P platform continues, allowing users to trade crypto with other users online using bank transfers, e-wallets, and mobile payments. Supports over 100 fiat currencies and 700+ payment methods (e.g., PayPal, M-Pesa, Revolut). Escrow service locks crypto until payment is confirmed, ensuring safety.

Zero trading fees for takers; makers set their own prices. Requires KYC verification and two-factor authentication (2FA). Massive liquidity (200 million+ users), wide payment variety, and trusted escrow system. No in-person cash option post-March 31; regulatory restrictions in some regions (e.g., Nigeria’s NGN delisting in 2024). Users comfortable with digital payments seeking broad market access.

Bybit P2P; Launched in 2022, Bybit’s P2P platform has gained traction as a Binance alternative, especially in restricted regions. Supports 60+ fiat currencies with options like bank transfers, Advcash, and local methods.
No trading fees: escrow secures trades. Requires account verification for P2P access. Over 2 million registered users, growing fast. User-friendly interface, reliable for spot and derivatives trading alongside P2P, and fewer regional bans than Binance. Bybit P2P has smaller merchant pool than Binance; no explicit in-person cash feature. Traders in regions like Nigeria, where Binance faced curbs, or those diversifying platforms.

Noones: A P2P Bitcoin marketplace that emerged as a Paxful successor, focusing on accessibility and cash trades. Noones Offers 250+ payment methods, including cash via in-person or mail options. No buyer fees: sellers pay a small commission. No mandatory KYC for basic trades, though some sellers may request ID. Intuitive escrow system for secure transactions. Noones is strong for cash trading support, privacy-focused (optional KYC), and ideal for unbanked regions. Noones is Bitcoin-centric (limited altcoin support), smaller user base than Binance. Its best for Cash traders and privacy enthusiasts in Africa or developing markets.

LocalCoinSwap is a Hong Kong-based P2P exchange operating since 2017, emphasizing anonymity and diverse payment options. Its supports multiple cryptos (BTC, ETH, etc.) with dozens of payment methods (e.g., cash, PayTM, Alipay). No KYC required by the platform; sellers may impose it for bank transfers. Escrow protection for all trades; fees around 1% for sellers. Its best for Cash-in-person trades available, high privacy, and broad payment flexibility. LocalCoinSwap has smaller liquidity pool; less polished UI than Binance or Bybit. Its best for users prioritizing anonymity and local cash deals over scale.

KuCoin P2P; KuCoin’s P2P desk, part of its broader exchange, offers a straightforward way to trade crypto for fiat. Supports major fiats (USD, EUR, NGN) with methods like bank cards, PayPal, and local options. Zero fees for buyers; sellers cover minor costs. KYC required for trading. Escrow ensures transaction safety. KuCoin’s P2P s tied into KuCoin’s robust ecosystem (spot, futures), decent liquidity. Limited fiat and payment options compared to Binance; no cash-in-person focus. Its best for traders already using KuCoin who want a seamless P2P add-on.

Bitgert P2P; Bitgert’s P2P platform, tied to its BRISE token ecosystem, promotes direct, decentralized trading. Offers crypto-to-fiat trades with flexible pricing set by users. No centralized exchange fees; escrow-based security. Accessible via localbitgert.com (as promoted in early 2025).
Bitgert is ensues decentralized ethos, no middleman fees, growing community. Bitgert P2P is a niche platform with unproven scale, limited fiat support details. Its best for early adopters of Bitgert or those seeking decentralized alternatives.

For ex-Binance Cash Zone users, Noones or LocalCoinSwap are direct replacements for cash trades. Binance P2P and Bybit cover digital P2P needs with scale and reliability. Niche options like Bitgert or PulseChain suit experimental or decentralized-focused traders. Each platform’s escrow and dispute systems are critical.