Topics
    FAQ — P2P Trading
    bybit2024-07-16 19:23:28




    For General Information 

    What is P2P on Bybit?

    P2P on Bybit is an easy and secure peer-to-peer trading platform. It facilitates the buying and selling of two (2) users' holdings at an optimal, agreed-upon price between them. Please note that Bybit does not provide the buy and sell offers on the P2P page.

     

     

     

    Which coins and fiat currencies does the platform support?

    Please refer to P2P Order Limits for the full list of coins and fiat currencies supported on P2P Trading. 

     

     

     

    Do I need Identity Verification (KYC) to perform P2P Trading?
    Yes, Individual Identity VerificationLv.1 is required. Please note that only individual Identity Verification is accepted. Business Identity Verification is not accepted. For more information, please refer to How to Complete Individual Identity Verification (KYC).

     

     

     

    Is P2P available on the Bybit website and App?

    Yes. P2P Trading is available on both the Bybit official website and the Bybit App.

     

     

     

    What’s the minimum amount to trade per P2P order?

    Please refer to the P2P Order Limits for more details. The actual tradable amount depends on the range limit set by the advertiser.

     

     

     

    How much are transaction fees on the P2P Platform?

    P2P on Bybit offers zero transaction fees for either buyers or sellers. However, please note that traders may need to pay transaction fees to the payment provider based on the payment method selected. 

     

     

     

    Why am I ineligible to buy or sell my coin?
    You may be ineligible because you haven't fully met the requirements set by the advertiser. You can click on the Ineligible button to check on the missing criteria. 

     




    What payment methods are supported for P2P trade?

    P2P on Bybit supports more than 300 payment methods, including debit cards, credit cards, in-person cash payments, and more.

     

    To view the full list of supported payment methods, please head to P2P User CenterPayment Method, and click on Add Now to add your preferred payment details.

     




    Why is there a payment method option for Bank Transfer despite the bank being specific in the list? 

    We encourage users to add a specific bank if the option is available. The Bank Transfer option is mainly for users who want to add a bank that is not yet listed.

     

     

    Why have I added the payment method but am unable to select it while I sell coins?

    Please ensure that the payment method you added matches the exact payment method listed by the advertiser in order to successfully place an order. For example, if the advertiser has listed Bank Transfer as the payment method in their advertisement, please ensure that you have also added Bank Transfer as your chosen payment method in your P2P User Center.

     

     

    To learn how to add a payment method for P2P Trading, please refer to this article




    Can I trade with users in other countries or regions?

    Yes. You can trade with any advertiser as long as you can successfully conduct your transfer in the fiat currency requested by the advertiser.

     

     


    How can I get in touch if there’s any problem during my P2P transaction?

    You can reach out to Bybit Customer Support by submitting a case via this link, and selecting P2P Trading. You will receive an automated email with your case number and our Customer Support team will get in touch with you within 1-2 working days. 

     

    To help us resolve your problems more efficiently, please provide your Bybit UID, P2P order number, and any applicable screenshot(s).

     

     

     

    How can I get in touch if there’s any problem with my P2P order discrepancy?

    If you encounter any issues with your order, we encourage users to utilize the Order Chat Box on the P2P Order Page to initiate communication with the counterparty. If your issue remains unresolved after communicating with the counterparty, you may proceed to submit an appeal. For more information on how to self-help and submit the appeal, please refer to this article How to Submit an Appeal for Your P2P Order.




     

     

    For P2P Account Settings

    How do I change my nickname?

    Your nickname cannot be changed once it has been set.

     

     

     

    I have the assets in my account, but why can’t I sell coins?

    Please note that P2P Trading can only be processed via the Funding Account, kindly ensure that your assets are in your Funding Account before placing any orders or advertisements. To learn more about how to transfer assets on Bybit, please refer to this article

     

     

     

    Can I choose the verification method for my P2P transaction?

    Currently, the verification switching function can only be used with released coins on the Bybit App.





    How to view a P2P completed order?

    On the Bybit website, you can check your order history by clicking here.

     

    If you are using the Bybit App, please go to P2P Trading, tap on the page icon, and switch to All to view the completed order.

     

     

     

     

    Where will the purchased coin be located?

    You can click on AssetsFunding Account to view the assets you’ve purchased under Available Balance.

     

     

     

     

    How can I start trading after purchasing the coin through P2P?

    If you want to start Derivatives trading or use our Bybit platform, please click on Transfer to move assets from your Funding Account to your Derivatives Account or Unified Trading Account.

     

     

     

     

    How is the 30-day completion rate calculated?

    The 30-day completion rate is calculated as follows:

    Completion Rate = Number of Completed Orders / Total Number of Orders * 100%

     

    The number used for the 30-day completion rate is based on the transaction record for the last 30 days.

     

     

     

    Does canceling the order have an impact on my completion rate?

    When you, as a buyer, cancel an order, your completion rate will be affected, while the seller's completion rate will not be impacted.  However, if the issue is on the seller's side, the buyer can choose to attribute it to the seller by selecting the cancel reason under Seller Issue.

     

    If the seller acknowledges that the cancellation is due to their own actions, the buyer's completion rate will remain unaffected, but the seller's completion rate will be impacted. If the seller does not acknowledge their responsibility for the cancellation, the buyer has a one-time opportunity to appeal. Please refer to this guide for canceling orders and managing your completion rate.

     

    Note: Exceeding the cancellation limit will lead to a 24-hour restriction on your ability to engage in P2P Trading. During this time, you will be limited to waiting for the restriction to be lifted.




    How to manage my P2P notifications?

    You can control the notifications such as App push, Telegram, Email and SMS for P2P orders and appeals through the P2P User Center

     

     


    a. How to set up P2P order notifications using App Push Notifications?

    If you've enabled the notification toggle but still aren't receiving App push notifications, please make sure that you have enabled all grouped notifications in your mobile device's notification settings.

     

     

     

     

     

    b. How to set up P2P order notifications using a Telegram Bot?

    1. Go to the P2P User Center page, click on Manage Notifications to turn on Telegram notifications, follow the prompts on the page to complete the binding, and add the Bot as a contact.

    2. After completing the binding, go to Telegram and start the first chat with the bound Bot by clicking on the 'START' button in the chat window.

     

    Notes:

    • Order notifications will be sent to your Telegram account through the bound Bot. Please make sure to fill in the correct account information.

    • The application scope of Telegram notifications for P2P business is limited to order status notifications, which do not include appeal orders (please stay tuned!).

    • Telegram notifications serve as auxiliary features. Upon opening Telegram notifications, it is still necessary to access at least one additional notification item.

    • Telegram account (@Bybit_Official_P2P_bot) can be verified on Bybit Authenticity Check page. 

     

       

       

       

       

      c. How to set up P2P order notifications using an Email and SMS?

      If you've enabled the notification toggle but still aren't receiving Email and SMS notifications, please make sure that you have enabled all grouped notifications in your device's notification settings

       

      If you encounter an issue with receiving the email and SMS, please refer to these troubleshooting articles:

       

      FAQ - P2P Trading 01.png

       

       

       

       

       

      How can I export a P2P order?

      You can export information about your P2P orders by clicking on the Export button in the upper right corner of this page. Please note that the Export function 

      is available only on the Bybit website.

       



       

       

      For P2P Appeal

      What are the differences between Normal and Fast-track appeals?

       

      Appeal Channel

      Fast-Track

      Normal Track

      Appeal Judgement Time

      ~ 15 minutes

      > 48 hours.

      After the Judgement result is out

      Order amount asset will still be frozen for 4/8/12/24 hours until no dissent or dissent is closed.

      Order amount assets will not be frozen after the appeal is closed.

      Appeal issue

      Only the following issue is supported for fast-track appeal. 

      • Buyer: I've completed my payment but the counterparty hasn't released the coins yet
      • Seller: I haven't received any payments from the counterparty

      All the issues can be appealed using normal track.

      Order Types

      Only normal P2P orders trading USDT are supported. The following orders are not supported:

      • P2P Hotswap
      • P2P on Web3.
      • P2P orders using coupon
      • P2P orders trading cryptocurrencies other than USDT

      All types of P2P orders are supported

      P2P Appeal Specialist Involvement

      No involvement unless a dissent is raised after the appeal judgment result is out

      Involved after the appeal was submitted and until the appeal closed




      Why did I not see the option to use Fast-Track Appeals in P2P?

      Fast-track appeal is only available to certain P2P appeals and P2P traders. P2P orders involved the following are not supported for Fast-track Appeals. 

      • P2P orders using coupons

      • P2P Hotswap orders

      • P2P orders on Bybit Web3…

      • P2P orders traded in cryptocurrencies other than USDT

      • Appeal involved complicated issues such as others, overpaid or underpaid payment

       

      Additionally, the security system filters orders based on the order amount and the appellant's credibility. If you don't see the Fast-Track Appeals option, there's no need to worry; it's not a standard practice to check your credibility.




      Does Fast-Track Appeal and raising dissent follow the P2P Terms of User Service and P2P Appeal Handling Rules?

      Yes. The P2P Terms of User Service and P2P Appeal Handling Rules apply to all types of appeals and dispute handling in P2P, including Fast-Track Appeal and Dissent raised after Fast-Track Appeal.

       

       

       

       

       

      For P2P Security 

      Is P2P on Bybit secure?

      Once a buy order is submitted, the amount of coin specified will be reserved on the P2P platform. This means that if the seller doesn’t release the coin within 10 minutes after receiving the payment, our Customer Support has the right to release the coin from the reserved funds to the buyer after verification.

       

      If you’re a seller, please make sure you’ve received the funds from the buyer before releasing your coin.

       

       


      Can I use someone else's payment account for P2P Trading?

      No. We only accept a payment account with the same name as your Identity Verification on Bybit.

       

       

       

      My counterparty is involved in fraudulent activities. What actions should I take?

      If you have been scammed and experienced a loss of assets, we strongly advise you to promptly submit an appeal through the respective P2P Order Details page. To submit an appeal, you can refer to the guide provided here. In case you are unable to submit an appeal via your P2P Order Details page, you have the option to submit a Webform or contact our Livechat support for further assistance. However, it is important to note that we CANNOT GUARANTEE A 100% recovery of your potential asset loss.


      If you solely intend to report the fraudulent conduct of the counterparty, please refer to the guide provided here to report the counterparty or you may block him/her by clicking on "Block him/her" located at the bottom of their profile page.

       

       

       

      How can I report someone who is involved in malicious behavior?

      There are several approaches you can employ to address the unethical conduct of the other counterparty, including the Block, Review, and Reporting features.

       

       

      a. Block Feature

      If you no longer wish to engage in trading with someone, you have the option to block the user. You can find the Block him/her button at the bottom of the user's profile page.

       

       

       

      b. Review Feature

      Leaving a review will help other users make informed decisions when selecting P2P ads. Your comments will be shown on the user's main page, and your rating will contribute to the user's Good Rating %. The P2P Review Feature Guide can be found here.

       

       

      c. Reporting Feature

      The reporting function allows you to report scammers and opponents who engage in malicious card behavior. During the reporting trial, we will take action against users engaging in malicious behavior. The P2P Reporting Feature Guide can be found here.

       



      What should I do if I receive a Risk Warning pop-up message?

      If you encounter a high-risk transaction or risk warning pop-up message, please follow the instructions to submit the relevant document. For more details, you may consult this article: FAQ — Fiat Transaction Error or Risk Warning.



       

      Why was my purchased coin in P2P locked for 24 hours?

      The asset locking strategy provides a 24-hour buffer against potential loss of user assets due to illegal funding, such as money laundering activities on the platform, to the greatest extent possible. It reduces the risk of bank accounts being frozen and ensures a secure trading environment for users.

       

      During the asset locking period, buyers cannot withdraw or sell coins deposited through recent P2P transactions until the time is reached. For example, if you initially have 100 USDT in your Funding Account and buy 200 USDT through P2P trading, the actual amount of assets under the asset lock strategy is 200 USDT. As a result, you can only withdraw the initial 100 USDT deposit, and the remaining 200 USDT will remain in your account.

       

       

       

      Why can't I find Order Chat Box messages that are older than six months?

      To safeguard users’ privacy, we will regularly purge information in the Order Chat Box that is older than six months. As a result, we encourage users to prompt reporting and resolution of any detected irregularities in their orders. Please refer to this article for more information on how to handle order appeals.

       

       

       

       

       

       

       

      For Posting Ads

      What is the cost of a  Floating Price Ad?

      The cost of Floating Price Ads is adjusted according to market fluctuations and is updated every three (3) seconds.



       

      What is the cost of a Fixed Price Ad?

      The cost of a Fixed Price ad doesn’t change with the market price.



       

      Are there any fees charged for posting an ad?

      Currently, there are no fees charged to advertisers for posting ads. 



       

      Are there any restrictions on setting the price range of an ad?

      Yes. You can verify the price range for an advertisement on the Post Ad page within the Premium indicator section. It's important to keep in mind that each coin chosen for your ad will exhibit a unique combination of Fixed and Floating Prices.

       




      What are the minimum and maximum amounts of USDT that can be traded per ad?

      Please refer to P2P Order Limits for more details.




      How to post a P2P advertisement?

      Please refer to How to Post a Trade Ad on P2P for more details.

       

       

       

      How to display my advertisement at the top of the search?

       

       

      According to Bybit’s P2P Advertising Sorting Rules, the Top Picks for New Users is the current top priority displayed on the P2P advertisement page.

       

      In order to post a Top Picks for New Users ads, you must fulfill the following criteria: 

      1. Become a VA advertiser

      2. Make a tradable ads

      3. Post advertisements with smaller limits (≤100 USDT)

        • HKD currency is not subject to this restriction.

      4. Have a better price than other competitors.

       

      In case there is no novice advertisement, the second priority, Special Recommendation ads, will be displayed on top.

       

       

       

      Why couldn't I find my ads listed on the P2P advertisement list?

      The reasons why your listed ads cannot be found in the P2P ad list are as follows:

      1. You do not meet the requirements for publishing advertisements.
      2. The transaction amount is lower than the minimum limit set for the advertisement. For example, the advertisement is set at 100 USDT for sale with a minimum of 10 USDT per transaction. If someone buys it, only 8 USDT is left in your available balance, the ads will be taken down.
      3. The ad is currently in rest mode.
      4. The ad has been automatically delisted by the system due to the account has not been logged in for more than 30 days.
      5. High number of disputed orders:
        1. If there are more than 20 disputed orders, all of your ads will be temporarily hidden. The ads will automatically reappear after you manage to reduce the number of disputed orders to 15, and this won't affect the ads sorting.
      6. High number of incomplete orders:
        1. For the buy direction: When there are 15 incomplete orders, the buy ads will be hidden. They will become visible again when the number of incomplete orders reduces to 10.
        2. For the sell direction: When there are 50 incomplete orders, the sell ads will be hidden. They will become visible again when the number of incomplete orders reduces to 40.
      7. If none of the above rules apply to you, you may have triggered the system's risk control strategy. The advertisement will be temporarily hidden for 24 hours, during which the platform will conduct a comprehensive investigation and evaluation. After 24 hours, if the evaluation passes, your advertisement will resume displaying; if the evaluation fails, your advertisement will be taken down, and you will receive a corresponding email notification.

       

       





      For Verified Advertisers

      How long does a Verified Advertiser application take to review?

      Usually, the review for a Verified Advertiser (VA) application takes fifteen (15) working days.




      Why is my Verified Advertiser (VA) review being rejected? 

      If you fail to meet the requirements mentioned on this page, your application may not be eligible for  VA status.




      Can I submit an appeal if my Verified Advertiser (VA) application is rejected?

      Unfortunately, you are unable to appeal your VA application if it is rejected. However, you may address the reasons for rejection and prepare a more comprehensive application to resubmit your VA application again. 

       

      To understand why your application failed, you can refer to the system-rejected reasons, which may include one (1) or more of the following common issues:

      • Incomplete or inaccurate Bank Account History/Coin Source/Other P2P Platform Source

      • Low completed P2P Orders/Trading Volume

      • Insufficient documents uploaded

      • Low-resolution files

      Please be aware that your resubmitted application will undergo a fresh review and evaluation against the application criteria.




       

       

      For P2P Coupons

      What is a P2P Coupon?

      A P2P Coupon is a form of discount voucher designed for P2P users, offering a reduction in the total amount of their USDT and USDC taker purchases. Users can claim P2P coupons in the Rewards Hub and use them when buying coins in P2P. Currently, P2P coupons can be used for all fiat currencies supported by P2P. For more details, please check FAQ — Rewards Hub.

       

       

       

      Why do the discounted prices vary for the same coupon when placing orders with different advertisements?

      The preferential price is determined based on the advertising price set by the advertiser.

       

       

       

      Why does the coupon say it is available for purchases over 100 USDT, but when I place the order, it prompts me that it can only be used for 105 USDT?

      The discount offered to users is affected by the limit set by the advertisers. In other words, if the coupon originally allows a 10 USDT discount on a 100 USDT advertisement, but the advertisers' minimum purchase requirement is 105 USDT, you will need to make a 105 USDT purchase.

       

       

       

      If I cancel my order after using a coupon, will the coupon still be available?

      Your coupon can be returned, and you can continue to use it as long as it remains within the coupon's expiration date.

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