What are the differences between

Swan Bitcoin vs Relai vs Peach Bitcoin?

Which one do you prefer and why?

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Currently using Swan never purchased any or send them any just signed up for the free bitcoin IMO they are not needed holding your own in cold storage/wallet is all you really need!!

The only one I have used is peach bitcoin, it's a kyc free peer 2 peer exchange, relai is another kyc free exchange, but not peer 2 peer, but both of these are only kyc free under a certain threshold. They are both based in Switzerland hence the kyc loophole.

Are they on-chain based or lightning based?

They are both on chain as far as I know. Robosats is the lightning kyc free one right? Not tried that one out yet, but it looks good.

Oh yeah, these guys are only really available in Europe too I believe.

Robosats is lightning for sure! But supports on chain as well.

Btw, how is the liquidity on peach btc?

I've only ever bought on peach (never sold a sat... zapped a few though lol) but when I bought there were plenty of offers and enough competition that the % over market was pretty low.