YEREVAN, May 17. /ARKA/. Cryptocurrency can be bought not only directly on the exchange. BYBIT offers other alternative ways to get the coveted tokens. Moreover, in some cases, buying cryptocurrency through an alternative way, for example, through the Peer-to-peer trading on the BYBIT P2P platform may appear to be more profitable than buying through the exchange,
Peer-to-peer (or P2P) trading is a form of trade in which buyers and sellers directly exchange their coins and fiat assets. The main advantage of P2P trading is that the buyer and the seller themselves determine the terms of the transactions, while a crypto exchange acts as a platform and a guarantor for transaction’s implementation.
P2P on Bybit is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two users’ holdings at an optimal, agreed-upon price. It should be noted that Bybit does not provide the buy and sell offers on the P2P page.
Currently, P2P on BYBIT supports over a dozen fiat trading pairs, including INR/USDT, VND/USDT, AUD/USDT, HKD/USDT, MYR/USDT, PHP/USDT, RUB/USDT, TWD/USDT and UAH/USDT.
Although BYBIT does not support the purchase of cryptocurrency directly with fiat money, but thanks to the P2P platform it allows you to purchase tokens with fiat money and make an immediate exchange with another market participant.
BYBIT does not withhold commissions for financial transactions. Thus, P2P on Bybit allows you to convert fiat currencies into coins and vice versa for free. More than 80 payment methods are available on the platform, including debit and credit cards, cash payments, and more.
So, how does P2P trading work? First of all, you need to be verified in order to conduct such transactions. And then everything will depend on what kind of transaction you want to complete.
If it’s a purchase, you’ll see a list of offers from other people. Note that each of them has different conditions in terms of currency, transaction volume, and method of payment.
The BYBIT P2P platform has filters which allow you to quickly find a seller that meets your criteria. Once you have found the right ad, click “Buy USDT”, enter the amount of fiat currency you want to spend or the number of coins you want to buy, and click “Buy”.
After that you will be redirected to the order page, where you will have 15 minutes to transfer money to the seller’s bank account. You need to make sure that all the order information is correct before you pay.
Immediately after sending the funds, click “Payment completed” and once the coins you purchased have been successfully sent by the seller, you will be able to click on “Check Asset”.
If you received a notification that the payment was made, but after 10 minutes you still haven’t received the money, you can click on “Submit appeal” and BYBIT support team will contact you.
Similar steps are needed if you decide to sell your cryptocurrency through BYBIT P2P. Now it’s up to you to determine how much crypto, for how much and how to pay for it on the platform.
Keep in mind that due to the specifics of P2P trading, it will not always be possible to find the right offer or to sell your coins quickly. Nevertheless, the very possibility of choosing what to do with your assets is fully consistent with the spirit of cryptocurrencies and the free Internet. -0-
