Yes, in the world of endless verifications required by crypto trading platforms, some reliable exchanges offer secure trading without the need for identity verification. AgoraDesk is one such exchange that is accessible to everyone around the globe. But, with all these advantages, trading on AgoraDesk has its own drawbacks, like trading only BTC and XMR.

This mix of advantages and disadvantages may leave you wondering whether this exchange is worth your time and money. To guide you through this exploration, I’ll share my detailed trading experience with AgoraDesk in this review. Let’s get right in!

What is AgoraDesk? 

Launched in 2019, this peer-to-peer cryptocurrency exchange was created by the team behind LocalMonero. Hence, it is an ideal alternative to this popular P2P exchange focused on XMR trading — especially since AgoraDesk supports both XMR and BTC trading.

As someone already familiar with trading on LocalMonero, I found AgoraDesk to be quite similar. Simply put, AgoraDesk's trading format is based on advertisements. Just publish an ad based on your preferred exchange rate and payment method for buying/selling BTC or XMR. 

Once another user finds that your ad fulfills their trading needs and preferences, they'll contact you. And then you both can proceed with the trade. Yes, it's as simple as that to trade on AgoraDesk! 

User Interface and Accessibility 

One of the most standout features of AgoraDesk for me was its all around accessibility. This means AgoraDesk allows anyone to trade on the platform without asking for personal details. In fact, the only details I had to provide were during the sign-up process, which were my username, password, and email (in case I ever want to change the password). That's it! 

I didn't provide any other personal details afterward, whether for posting an ad or trading with another buyer/seller. 

Besides the quick sign-up, AgoraDesk's easy-to-navigate interface also won me over. To be precise, the exchange features a clean and straightforward web interface. This streamlines the trading process for Bitcoin Beginners and more experienced traders — like myself. 

Key Features of AgoraDesk 

Considering how simple and basic AgoraDesk is, it may seem like it doesn't have much to offer. But honestly, despite its limitations, I have explored various notable features of this exchange that make it stand out from its competitors. To get a better idea, let's look at these key features in more detail:

No KYC

First and foremost, I can't go on with AgoraDesk's standout feature without mentioning the absence of a KYC verification. Now, I understand most traders prefer exchanges with compulsory KYC verification to ensure they join a platform accessed by only authentic users. 

But for someone like me who prefers anonymous trading to avoid being tracked or hacked by scammers, AgoraDesk is an ideal platform. What's interesting here is that AgoraDesk doesn't even plan to make KYC compulsory for its users. So, you can always consider AgoraDesk a reliable platform for anonymous crypto trading. 

Supported Cryptocurrencies

While AgoraDesk doesn't support multiple cryptocurrencies for trading, it does let you choose between Monero and Bitcoin. With BTC being one of the most widely traded cryptocurrencies in the world, you can easily access multiple buyer and seller ads on the exchange that match your specific requirements. 

So even when AgoraDesk only supports BTC and XMR trading, it allows you to explore endless crypto buying and selling deals in seconds.

Support for Various Payment Options

One particular feature that grabbed my eye during my first trade on AgoraDesk was the exchange's support for payment methods. While entering my specific requirements for purchasing BTC, I came across a list of payment options. 

This list had around 60 options for me to choose how I want to pay for my purchase, including bank deposit, debit card, PayPal, etc. This clearly shows how you can trade on the platform through any payment method you prefer. 

Language Support

Not only does AgoraDesk support various payment methods, but it is also accessible in various languages. So, if you don't speak English, no problem! Change the exchange's language to your preferred one, and you're good to go. Some of the languages I came across when navigating through the platform include: 

Security Measures 

I believe the security of a crypto exchange is the most crucial thing to consider to evaluate whether you can trust a platform. Hence, I had to dig deeper into the security measures adopted by AgoraDesk before trusting it with my time and money. 

To my surprise, I found that AgoraDesk implements not one but multiple security practices to provide secure trading solutions. Specifically, these include: 

Private Self-Custody Wallet

Don't have a crypto wallet? Or you don't want to connect your third-party wallet directly to a trading platform for security concerns? No issues! AgoraDesk allows users to access their private self-custody wallet on the platform. 

Every time you want to transfer or receive crypto, you can do it directly through this private wallet. 

2FA

You can also enable two-factor authentication on your AgoraDesk account. I didn't realize this until I went to the settings page on my profile and found the 'two-factor authentication' option. 

This ensures that only the device I authenticate through the OTP I receive in my email can access my AgoraDesk account. Besides, no one can open my AgoraDesk on any new device until the other device is authenticated the same way. 

I2P and Tor

Another praiseworthy security feature I explored while going through AgoraDesk's FAQ section was their use of TOR and I2P portals. While TOR stands for The Onion Router and I2P stands for Invisible Internet Project, both these portals allow anonymous web surfing. 

When employed on AgoraDesk’s trading platforms, these portals ensure that none of our trades or activities can be traced by any entity, providing an additional layer of security for each transaction. I appreciate AgoraDesk’s commitment to maximizing anonymity for all traders through this approach.

Arbitration Protection

Last but not least, AgoraDesk also offers arbitration protection to provide transaction security for both buyers and sellers. While I learned about this feature through their support team even before I made my first trade on AgoraDesk, I was curious to see how it works. So, I made my first deal as a seller. 

According to their support team's information, the arbitration protection reserves the amount of cryptocurrency to be traded in a deal from the seller's AgoraDesk bond wallet. It is then released to the buyer in case a seller fails to complete a transaction after receiving the money for the deal.

Likewise, when I made a deal to sell $3,000 worth of BTC to another buyer, I was also asked to submit the same amount of crypto as a deposit. This crypto was held in escrow until the buyer received the amount and confirmed with the exchange. 

Since I wasn’t committing fraud in this deal, I received this deposit back soon after the deal was completed. But, apparently, if a seller does commit fraud, the arbitrator steps in and resolves the buyer's issue by sending them the deposit held in the arbitrage bond. 

Fees and Charges

Regarding the fees and charges of trading on AgoraDesk, this is another aspect where the exchange didn't disappoint me. The exchange is free to register, buy, and sell Bitcoins and Monero. In fact, even when I made a transaction from my AgoraDesk wallet as part of a deal, the exchange didn't charge me any fees. 

The only time they charged me a transaction fee was when I transferred BTC from my AgoraDesk wallet to another wallet. This transaction fee is deducted from the AgoraDesk wallet and varies according to the applicable cryptocurrency network transaction cost of the third-party wallet from where you will transfer the funds.

Besides this, another fee I encountered during my trading experience on AgoraDesk was the 1% arbitration protection fee. Considering that this fee is only charged when a deal is completed, I found it to be a fair deal. 

Customer Support and Community Feedback 

AgoraDesk's customer support team is just as accessible and reliable as the platform itself. Speaking from experience, I initially contacted AgoraDesk's customer support team by opening a ticket to inquire if the platform implements any measures to add to its transaction security. 

In fact, as I mentioned earlier, this was how I learned about their arbitration protection feature. The team shared a prompt and detailed response to my query by being transparent about their security details. This detailed response made it easier for me to trust the platform and proceed with my first trade. It is worth noting that AgoraDesk's team isn't only accessible through the ticket system. 

Instead, you can also contact them for any issues or queries through their email: [email protected].

Now, it's not just me but many more users of the AgoraDesk community who have had positive experiences trading on AgoraDesk. Some of these experiences are visible in the six 5-star AgoraDesk reviews and a 4.2-star rating on Trustpilot. 

While all these reviews praised different features of the platform, one specific review I came across referred to the exchange as the 'Best P2P website!' This proves that AgoraDesk is every user's favorite P2P trading platform. 

Pros and Cons 

Conclusion

AgoraDesk is certainly a go-to crypto trading platform for anyone worldwide who wants to enjoy simple trading. After all, ever since crypto trading has become a global norm, it has only lacked simplified trading solutions. And so, most beginners find it hard to understand how crypto trading works on most platforms. 

Being a beginner in this industry once, I understand how difficult it can be to grasp crypto trading concepts. However, AgoraDesk ensures that users don't have to go through that complexity through its simplified trading approach. Plus, the KYC-free environment, affordable fees, and intact security features are all a cherry on top for all AgoraDesk users. 

Despite these standout features, the limited trading options and lack of online reviews leave some room for concerns. Hence, I suggest you carefully consider how the platform works, what the features are, and the users you are dealing with before proceeding with any trade.