USDT to EUR: the P2P premium is 2.59%, and on USDC it is 0.48%

Selling the same dollar for euros pays differently depending on where you sell it, and our rates page exists to show the gap before you trade rather than after. Measured at 13:00 UTC, the euro bought $1.1537, so a dollar at parity is worth 0.8668 euros. Here is what a dollar in stablecoin form actually fetched.

“Use platforms that lock the seller's crypto until you confirm payment. No escrow, no deal.”

— Intokened, Safety notes, rates page

From the safety notes on the page, on the one rule that matters in a peer-to-peer trade

USDT to EUR: what three venues paid

Three sources, two coins:

• USDT on Binance P2P: 0.8924 EUR, which is 2.96% above parity.
• USDT on Kraken and Bitstamp: 0.8700 and 0.8699, both about 0.36% above.
• USDC on the same three: 0.8748, 0.8707 and 0.8706.

Read the spread rather than the prices. Between the best and worst quote, USDT differed by 2.59% and USDC by 0.48%. Selling 10,000 euros' worth of USDT into the wrong venue costs about 259 euros. The same mistake in USDC costs 48.

The reason is not that USDT is worth less. Both tokens traded within half a percent of each other on the exchanges. The difference appears only on the peer-to-peer market, where USDT carried a 2.96% premium over parity and USDC just 0.93%. Peer-to-peer buyers in euros want USDT specifically and pay up for it, which is a demand signal rather than a pricing error.

What the spread is actually buying

That premium is also the risk premium. On an exchange the counterparty is the exchange. On a peer-to-peer desk the counterparty is a stranger, and the escrow is the only thing standing between you and a reversed bank transfer. Three percent is what that inconvenience is worth on the day, and it disappears the moment a trade goes wrong. The page carries four safety rules alongside the quotes for that reason: trade only where escrow holds the seller’s coin until you confirm payment, read the counterparty’s completed-trade count before the first deal, stay inside the platform chat, and never release early.

One more thing the spread hides: the peer-to-peer number is an average of the top offers, not a price you are guaranteed. Size moves it. A seller clearing 500 euros and one clearing 50,000 meet different books, and the larger order eats through the premium as it goes.

The page refreshes every two minutes and pulls each quote from the venue itself, including the peer-to-peer order books that have no official API. We publish the source next to each number so the comparison can be repeated. Cross-venue differences are the same thing we found in the exchange volume data, where twelve of sixteen venues agreed within 5% and one differed by 47%: in crypto, a single number quoted without its source is usually the least useful form of information.

Informational material, not investment advice. Rates were measured at 13:00 UTC on 17 September 2026 and move continuously.