Crypto expert, arbitrage trader and investor
Crypto expert and hands-on crypto arbitrage trader, investor and software developer with over 20 years of experience. On the P2P.Army blog he covers exchange news, P2P and cross-exchange arbitrage.
68 articles
Antonio Merkle is a crypto expert and hands-on crypto arbitrage trader, an investor and a software developer with over 20 years of experience.
On the P2P.Army blog he covers crypto exchange and P2P platform news and writes reviews, ratings and arbitrage courses — based on official sources and P2P.Army data.
How we prepare our articles:
Questions about an article: Telegram @p2p_army_support or support@p2p.army
Bangladesh has an active BDT P2P market on international exchanges, but Bangladesh Bank prohibits banks and mobile financial services from processing crypto transactions. This guide explains the legal status, the rules for bKash, Nagad and Rocket, how accounts get frozen and what our live data shows — before anyone considers trading.
Everything specific to P2P arbitrage with the Kenyan shilling: which exchanges and payment methods work right now, M-PESA limits and reversals, the new VASP Act and its licensing deadline, how crypto is taxed after the Finance Acts of 2025 and 2026, and how traders get caught in fraud investigations.
Everything specific to P2P arbitrage with the Nigerian naira: which exchanges still offer NGN P2P after Binance left, why some popular fintech apps forbid crypto trading, how SEC licensing and the 2026 tax rules work, and how post-no-debit orders and mass freezes hit P2P traders.
Everything specific to P2P arbitrage with the Pakistani rupee: which exchanges and payment methods work right now, how the Virtual Assets Act 2026 and PVARA licensing changed the rules, what the State Bank now allows banks to do, how crypto is taxed and how P2P traders end up in fraud cases.
Everything specific to P2P arbitrage with the Indian rupee in one place: which exchanges and payment methods work right now, how UPI, IMPS and wallets differ, how crypto is taxed, which exchanges must be registered with FIU-IND and how to reduce the risk of a bank account freeze.
Taxes and regulation change the very economics of P2P arbitrage, and they differ by country. We put together a checklist of questions to answer before working with turnover and show how it looks using India as an example.
Why does USDT on Indian P2P cost 9–11% more than a dollar at the bank, and where does the gap between buy and sell prices come from? We take the rupee market as a case study: the same factors work in any country, only their weight changes.
A taker on one market pays the spread. There are two ways to earn: catch price differences between exchanges or become a maker yourself. We go through both on a live rupee example — with limits, fees, tax and risks.
Your first trade is not about profit — it is about going through the whole process yourself: preparing the account, choosing a reliable ad, buying USDT for local currency and selling it back. A step-by-step walkthrough and checklist for any country.
The USDT rate to local currency usually moves smoothly, and money in P2P is lost elsewhere: to scammers, chargebacks and bank account freezes. We look at how it happens, how to reduce the risk and what to do if your account is frozen anyway.
A nice spread in a table and money in your account are different things. We go through the net profit formula, where tax is your country’s variable, and calculate a live rupee setup: what remains after fees, tax and withholding on turnover.
Setups are not guessed — they are found in data. We show how to check the market for your currency in P2P.Army tools in a few minutes: from free price and spread pages to the order book builder and signals. Screenshots use the rupee as an example.
