There are five different ways to buy crypto with cash: 1. Peer-to-peer (P2P) exchange, 2. Fiat deposit service, 3. Using Bybit Card, 4. Crypto ATM, 5. Buy in person

Do you want to buy crypto with cash? If so, it's important that you first have a 

 or any other cryptocurrency. The best wallets are hardware wallets that offer ample security features. 

There are four different ways to purchase crypto with cash. You can: 

Buying Bitcoin or other cryptocurrencies with cash has several notable benefits. For one, a cash transaction gives you a considerable amount of privacy. Although using a standard crypto exchange is convenient, you don’t have to reveal personal information for identity verification in a cash purchase. Therefore, buying Bitcoin with cash instead of a credit or debit card can be safer because it keeps you from becoming a victim of identity theft. 

It’s also much quicker than completing an exchange transaction or bank transfer. A standard bank deposit usually takes around one to three business days to be completed. 

(CEXs) often require identity verification before transactions are made, which also can take a few days to weeks, depending on the exchange. A cash trade could save you a considerable amount of time. 

Four primary methods allow you to buy Bitcoin and other cryptocurrencies with cash. Keep in mind that each of these methods not only lets you buy, but also sell Bitcoin and other cryptocurrencies. 

Using a trusted exchange such as Bybit is a very secure method for buying bitcoins with cash. The platform acts as a type of escrow service that holds your money until the transaction is complete. 

You can also purchase other cryptocurrencies on the Bybit platform, such as 

. Bybit ensures safer transactions via its KYC verification. Bybit P2P Trading via the mobile app or desktop version is offered as well. 

 button on the home page, then select P2P. 

 page, you can filter your preferred advertisers after filling out the payment method, amount and fiat currency fields. The information you input depends on what transaction you'd like to complete. If this is your first time buying Bitcoin with P2P, you’ll need to create a nickname.

Select your preferred advertiser before clicking on the 

 Input the total amount of fiat you'd like to pay or the number of coins you'd like to receive, then select 

to go forward with the transaction. You'll then be sent back to the main order page, where you’ll have 15 minutes to make sure that the money is transferred to the seller's account. Once you've determined that every order detail is correct, click on 

Purchasing Bitcoin through the P2P platform on Bybit is that simple. When you’ve received your coins, you can view all the details of the transaction in your P2P asset history. It also features a 

 box where you can get in touch with the seller in real time. In addition, the customer support team is available 24/7 to assist you if any issues arise. For instance, if you don't receive your coins within 10 minutes, click on 

, and the customer support team will contact you.

2. Fiat Deposit and Balance Payment Service

Bybit also offers a Fiat Deposit and Balance Payment Service with several currency options from which to select. The various fiat currencies you can use to buy crypto include BRL, ARS, EUR, GBP and RUB. (Note that completing KYC is necessary once you reach a certain limit for some currencies.) You can easily buy Bitcoin and several other cryptocurrencies such as 

 (ADA) through this cash deposit and balance payment service.

To purchase your choice of cryptocurrency with fiat, check out the steps below (Note that you will first need to 

 In the top left portion of the navigation bar, click on 

To buy your desired crypto, follow these steps:

. Keep in mind that the reference price refreshes after 30 seconds.

Make sure all your details are correct, then click on 

 Once your transaction is complete, the coins will be deposited into your funding account after one to two minutes. Click on the 

 button to see your current balance. The status of your order can also be sent to your email.

 is ideal for making all kinds of online purchases. Since it’s a Mastercard crypto debit card, you can also use it to purchase crypto on Bybit. The funds on the card are derived from your Bybit Funding Account, so you’ll need to top up your funds with cash via the 

 option. Bybit Card accepts two types of fiat currencies: EUR and GBP.

After purchasing your crypto on Bybit Card, you can easily manage your transactions via the Bybit Web or App dashboard. Note that Bybit Card has a daily spending limit of 5,000 EUR/GBP, a monthly limit of 50,000 EUR/GBP and an annual limit of 250,000 EUR/GBP. 

If you prefer a more traditional method to buying crypto with cash, you can use a crypto ATM. It works like a typical ATM, whereby you simply walk up to a stand-alone kiosk and insert cash or a credit or debit card. Various crypto ATMs are available, such as Ether ATMs, Litecoin ATMs, Bitcoin Cash ATMs, and — the most prevalent — Bitcoin ATMs. 

Most crypto ATMs charge fees in the range of five to ten percent of the transaction. Even though the fees are high, the ATMs typically allow you to buy crypto without going through a verification process. Although some crypto ATMs don't come with a verification process, others do. 

Below are the steps for buying Bitcoin from a Bitcoin ATM. While the process of buying Bitcoin via a Bitcoin ATM may differ slightly from machine to machine, the general steps are as follows:

While the third-party services mentioned above are effective ways to purchase Bitcoin and other cryptocurrencies using cash, you might not want to use a third-party service for this type of transaction. If that’s the case, you'll need to conduct the transaction with the seller on your own. Bybit’s P2P platform supports over 300 payment methods, with cash in-person transactions as one of the many.

Otherwise, if you have friends in the cryptocurrency industry, they may be able to help you buy Bitcoin or other cryptocurrencies with cash. You can also attend a 

 to make friends with fellow Bitcoin and crypto enthusiasts, then proceed to find a trusted person from whom to purchase Bitcoin.

As is the case with any in-person transaction, the most important thing to remember is that your safety and privacy come before anything else. Don't give the seller your real name or address. Also, don’t forget to bring your crypto wallet to verify your completed transaction.

If you want to meet with a local seller, do so in a public location that you're confident is safe. The most popular spots for these types of transactions include malls, banks and coffee shops. While there are several ways you can buy crypto in person, it's highly recommended that you use an escrow service to facilitate a smooth and safe transaction. 

If you've never used escrow before, these services will hold the crypto until the transaction is completed, after which the escrow account will send the crypto coins directly to you. Even when using this method, it's still important that you conduct the transaction in a safe and secure location. 

If you're thinking of buying crypto from a seller with whom you've never worked, select a location that has security cameras, access control and even metal detectors. As long as you maintain common sense when performing an in-person transaction, you should be able to buy crypto without issue. 

If you're interested in buying Bitcoin and other cryptocurrencies with cash, there are some pros and cons that you should be aware of before finalizing a transaction. 

As mentioned earlier, buying crypto with cash is great because of your ability to avoid a lengthy and invasive verification process. For instance, buying crypto with cash in person means you shouldn't need to provide the seller with your name or address. 

At Bybit, if you purchase crypto via its fiat deposit feature, you’ll also enjoy anonymity and privacy, if you’re purchasing fiat currencies that don't come with KYC requirements.

Another benefit of buying crypto with cash is that this type of transaction can be considerably faster than the alternatives. While a cash transaction can be completed in minutes, before you even start buying any crypto on exchanges, the identity verification process can take weeks. Even bank deposits take from one to three days. 

Even though cash is an appealing payment method for anyone who wants to buy Bitcoin and other cryptocurrencies, there are a few issues with this option. For one, your transaction amounts are limited. A majority of Bitcoin ATMs, for instance, have limits on how much money you can use during the transaction. However, with Bybit P2P trading, as long as your KYC information is verified, you can execute larger transactions.

It’s also risky to buy in person rather than through a trusted exchange such as Bybit. Using an escrow service will help mitigate this risk. 

While you can buy Bitcoin and other cryptocurrencies with cash, it's best to do so via P2P trading, which is made possible with trusted exchanges such as Bybit. Another effective solution is to purchase Bitcoin with a fiat deposit through Bybit. Buying crypto with cash is simpler than ever with Bybit, and your transactions are guaranteed to be safe and secure. Most other options aren't nearly as safe. 

Besides cash, you can also buy crypto with a credit or debit card on Bybit, which is both safe and convenient. 

Beginner

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Best Ways to Buy Crypto With Cash in 2024

Desire more anonymity and lesser fees when buying and selling crypto? Why not give these best P2P crypto exchanges a try!

In the ever-evolving world of cryptocurrencies, finding the right platform for your trading needs can be a daunting task. With so many options flooding the market, it’s essential to find one that offers security, flexibility, and convenience. Enter P2P crypto exchanges, a game-changing innovation in the world of digital assets that has opened up new horizons for traders across the globe. So, what sets P2P exchanges apart, and how can you find the best one for your crypto transactions? Let’s dive into the world of peer-to-peer trading and unlock the secrets to success in finding the best p2p exchange.

In this comprehensive guide, we’ll explore the top 5 best p2p exchanges of 2023, discuss key factors to consider when choosing an exchange, and delve into the advantages and potential risks of this unique trading method. By the end, you’ll be equipped with all the knowledge you need to trade confidently on the best p2p exchange platforms and maximize your crypto gains.

In 2023, the top five P2P crypto exchanges leading the pack in the crypto exchange market include:

Each platform offers its unique features and benefits, catering to a wide range of traders and their specific needs.

Catering to experienced traders, Bybit offers advanced trading tools and guaranteed yields, making it an ideal choice for those looking for more sophisticated options.

Bybit supports more than 650+ cryptocurrencies and various fiat currencies, providing a wide range of crypto trading options. Advanced trading tools, such for cryptocurrency analytics, 

, and advanced charting tools, enable traders to make more informed decisions and maximize their profits.

Binance offers a user-friendly platform that supports nine crypto assets and 121 fiat currencies. With multiple payment methods available, users can easily find a suitable trading partner.

Binance P2P offers the following features:

Traders can enjoy a seamless and cost-effective trading experience on the platform.

Paxful’s user-friendly platform and diverse payment options make it an ideal choice for beginners. The platform supports popular cryptocurrencies like Bitcoin, Ethereum, and Tether, and offers over 250 payment methods such as credit/debit cards, wire transfers, and PayPal.

Users must complete a biometric verification process, which includes a face scan to confirm their identity, ensuring a secure trading environment. With transaction fees ranging from 0% to 0.5% and no charges for purchasing crypto, Paxful offers an affordable and accessible trading experience.

Huobi sets itself apart with its zero commission fees and robust security features. Supporting six cryptocurrencies and 74 fiat currencies, Huobi provides users with a wide range of trading options.

The crypto trading platform boasts the following features:

With 24/7 customer support and an easy sign-up process, Huobi ensures a secure and user-friendly trading experience.

OKX stands out as the most versatile P2P exchange, supporting a variety of cryptocurrencies, fiat currencies, and payment methods. With over 100 fiat currencies and popular cryptocurrencies.

OKX offers a wide array of options for traders.

The platform supports local bank transfers, SEPA, SWIFT, Perfect Money, Revolut, and TransferWise, making it easy for users to trade on a global scale. OKX also offers additional services like crypto savings accounts, crypto staking, and crypto lending, catering to a diverse range of user needs. With no service fees and advanced escrow technology, OKX provides a secure and cost-effective trading experience.

Key Factors to Consider When Choosing a P2P Exchange

When choosing a P2P exchange, it’s essential to weigh several factors such as:

Trading fees play a significant role in determining the cost-effectiveness of a P2P exchange. P2P exchanges generally have lower transaction fees than traditional exchanges, with some even offering zero transaction fees for P2P trading.

It is important to compare the fees of different P2P exchanges to find the most suitable and cost-efficient platform for your trading needs.

Supported Cryptocurrencies and Fiat Currencies

Choosing a P2P exchange that supports a wide range of cryptocurrencies and fiat currencies is essential to maximize your trading options. Popular cryptocurrencies, such as 

, are commonly supported on P2P exchanges.

Additionally, many P2P exchanges support multiple fiat currencies, enabling users to trade with their preferred currency.

Payment methods are an important factor to consider when choosing a P2P exchange, as they provide flexibility and convenience for users. Common payment methods supported by P2P exchanges include:

Ensure that the P2P exchange you choose offers your preferred payment method for a smooth and hassle-free trading experience.

Prioritizing security measures is crucial to protect your assets and personal information when using a P2P exchange. Some security measures implemented by P2P exchanges include:

These measures ensure the highest level of security.

Moreover, many P2P exchanges require users to complete KYC/AML verification and use secure messaging systems, further enhancing the security of the platform.

Considering the platform’s reputation is essential to ensure a reliable and trustworthy trading experience. Reputable platforms, such as:

These platforms have established themselves as industry-leading peer to peer exchanges (P2P).

It is important to research and compare various P2P exchanges to find one with a credible reputation that suits your trading needs.

P2P crypto exchanges, like a p2p crypto exchange, offer numerous advantages over traditional platforms, including:

These benefits make P2P exchanges an appealing option for traders looking for flexibility and control over their transactions.

P2P exchanges offer increased privacy compared to traditional exchanges, as they enable users to trade directly with one another without the need for intermediaries. Privacy features provided by P2P exchanges include:

These security measures help to protect user data and transactions, ensuring a secure and private trading experience.

Lower fees are a major advantage of P2P exchanges, as they help to make trading more cost-effective for users. P2P exchanges typically charge lower transaction fees than centralized exchanges, allowing traders to save money and potentially increase their profits.

In some cases, P2P exchanges even offer zero fees, including zero transaction fees, further reducing costs for users and providing a competitive edge over traditional platforms.

Global accessibility is another significant advantage of P2P exchanges, as users can trade with others worldwide, regardless of their location. This opens up new trading opportunities and allows users to access a wider range of offers and market conditions.

Furthermore, global accessibility enables users to take advantage of regional differences in crypto prices and regulations, providing additional opportunities for profit with digital assets.

Direct trading on P2P exchanges offers several advantages:

Additionally, direct trading allows users to set their own prices and negotiate deals on their terms, providing a more personalized and flexible trading experience, which can be advantageous in a global merchant trading competition.

Potential Risks and Drawbacks of P2P Exchanges

Despite their numerous advantages, P2P exchanges come with some potential risks and drawbacks that users should be aware of, such as limited liquidity, security concerns, and user experience challenges.

Limited liquidity on P2P exchanges can make it difficult to find suitable trading partners, as there may be:

These factors can make it more challenging for traders to execute trades at advantageous prices.

It is essential for traders to assess the liquidity of a P2P exchange before engaging in trading activities to ensure smooth and efficient transactions.

Security concerns may arise due to the decentralized nature of P2P exchanges, as there is an increased potential for scams and fraud. To mitigate these risks, P2P exchanges implement various security measures, such as two-factor authentication, encryption, and KYC/AML verification.

However, users should always be cautious when trading on P2P exchanges and ensure they are dealing with reputable platforms and trustworthy trading partners.

User experience challenges can make P2P exchanges less user-friendly than traditional platforms, as they require users to navigate a more complex interface and interact directly with other users. These challenges can make it more difficult for new users to get started with P2P trading and may lead to confusion and frustration.

P2P exchanges are working to address these challenges by improving their user interfaces, providing better customer support, and offering educational resources to help users navigate the trading process.

Step-by-Step Guide to Using a P2P Exchange

To assist users in understanding the process of account creation, funds deposit, and buying and selling crypto on a P2P exchange, we present a comprehensive step-by-step guide outlining the basics of these platforms.

Account creation on a P2P exchange typically involves:

Once your account has been created, it is essential to secure it with two-factor authentication and ensure your login credentials are stored safely.

Depositing funds into your P2P exchange account may require linking a bank account or using a supported payment method, such as a credit card or digital wallet. Each platform will have its own deposit process, so it is important to familiarize yourself with the specific requirements of the exchange you are using.

Keep in mind that different P2P exchanges may have varying deposit fees and processing times, so it is crucial to choose a platform that best meets your needs and preferences.

Buying crypto on a P2P exchange involves the following steps:

Once you have found a suitable offer, you can initiate the transaction and follow the platform’s specific guidelines for completing the purchase. This may involve confirming your payment details, sending the funds to the seller, and waiting for the escrow system to release the purchased crypto to your account.

Bybit_Learn_OG_image.png

5 Best P2P Crypto Exchanges for Minimal Fees and Maximum Security

Excited to kickstart your crypto journey with Bybit? Here's a detailed guide on how you can buy crypto with P2P and receive the funds in your Bybit Wallet. 

The cryptocurrency landscape has witnessed a myriad of changes since its inception. It started as a niche market to become a global financial phenomenon, and the number of ways in which individuals can acquire crypto assets have diversified. Among the various methods available, P2P (peer-to-peer) trading stands out as a preferred choice for many. One of the most popular platforms for P2P trading is Bybit. 

If you’re interested in P2P trading, read on, as this article explores how you can buy crypto with Bybit P2P via the Bybit Wallet. 

P2P is a decentralized trading method in which individuals transact cryptocurrencies directly with one another via a crypto exchange or app, bypassing traditional intermediaries such as banks or brokers. 

This system operates using trust-based mechanisms (such as 

) so that both buyers and sellers can set their own terms, prices and conditions. The absence of a middleman often results in reduced fees, as well as more control over transactions. Moreover, P2P trading platforms often incorporate escrow services, ensuring that both parties fulfill their end of the bargain before funds are released, adding an extra layer of security to the process.

 is an innovative platform designed by Bybit to streamline the peer-to-peer trading experience for its users. It acts as a marketplace where users can list their buying or selling offers. 

. The platform’s rigorous verification process ensures that users are transacting with other credible individuals. With support for multiple 

 and a trusted community of traders, Bybit P2P has positioned itself as a leading choice for those venturing into the world of P2P crypto trading.

, tailored to meet the needs of modern cryptocurrency enthusiasts and grant them easier access to the world of 

As Bybit continues to innovate and enhance its offerings, the recent integration of the 

 feature into the Bybit Web3 platform stands as a testament to its commitment to user convenience. It focuses on P2P transactions and allows users to effortlessly purchase cryptocurrencies using their credit/debit cards and P2P payments. What's even more compelling is that once a user acquires crypto through this method, the assets are sent directly to their Bybit Wallet. 

This seamless integration between Bybit Web3, Bybit Wallet and Bybit P2P ensures that users have a streamlined experience, from purchasing to storing their digital assets, all within the Bybit ecosystem.

How to Buy Crypto With P2P via Bybit Wallet

Excited to kickstart your crypto journey with Bybit? Following is a detailed step-by-step guide on how you can buy crypto with P2P and receive the funds in your Bybit Wallet. 

 and complete Identity Verification. If you haven’t already established an account, you can follow our quick 

 before continuing with the following steps.

: Log in to your Bybit account by clicking on the 

tab on the navigation bar on the Bybit home page, and clicking on 

: A window will pop up once you enter the Bybit Web3 Portal. Click on 

: After you’ve created your Bybit Wallet, click on the 

 for the corresponding crypto to purchase it. 

: Place your order by following these steps:

 that this transaction will incur gas fees and trading fees.

Once you have carefully read, understood and agreed with all the provided information, tick the box next to 

You’ll be prompted to select your preferred payment method. Select 

After you’ve ensured that your order details are correct, click on 

. This will create an order record that can be found on the 

 and you’ll be redirected to the P2P Trading page to complete your order.

: Complete your payment within the specified time. Then, click on 

: After completing your payment, click on 

 that transaction records made using the Bybit Wallet are recorded on the blockchain and publicly accessible. However, only those who are aware of your wallet address can identify your transactions using a block explorer such as Etherscan.

: Once you have carefully read, understood and agreed with all the provided information, tick the box next to 

After you’ve ensured that your order details are correct, tap on 

. This will create an order record that can be found on the P2P Trading Order page. To access this page, tap on 

how to buy crypto with p2p via bybit wallet featured image

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P2P HotSwap is a zero-fee on-and-off ramp of your crypto. Learn how you can earn money and get the assets your want at the same time. 

If you’re looking for a convenient and secure way to buy and sell crypto with 

, Bybit's P2P HotSwap might come in handy for you. P2P HotSwap is a new addition to Bybit's peer-to-peer (P2P) trading platform that allows you to exchange your coins and fiat assets with other users at an optimal, agreed-upon price. This convenient on- and off-ramp for popular digital currencies offers you zero transaction fees, 24/7 security and support, and a wide range of payment methods and currencies. 

This comprehensive guide will explain what P2P HotSwap is, how it works and how you can benefit from it.

Peer-to-peer (P2P) HotSwap is a new feature on Bybit that allows you to swap your coins and fiat assets directly with other users without going through a third-party intermediary. This also minimizes the need for disclosure of personal information to third parties. Bybit does not provide the buy and sell offers on the P2P page; instead, it facilitates the transactions between buyers and sellers by providing a secure, transparent and easy-to-use platform.

While P2P Trading restricts users to direct transactions with advertisers, limiting their choices, Bybit P2P HotSwap introduces smart quotation functionality, enabling P2P advertisers and third-party liquidity providers to access competitive rates while securing their preferred crypto asset conversions. This feature expands users’ available options, allowing them to trade with a broader range of advertisers and third-party liquidity providers when buying and selling coins. 

P2P HotSwap supports more than 40 fiat currencies, including EUR, USD and JPY, and 30 cryptocurrencies (USDT, BTC, ETH, USDC, MATIC, SOL and more). There are a wide selection of payment methods to choose from, such as bank transfer, PayPal, Alipay, WeChat Pay and others. You can also access P2P HotSwap from anywhere in the world using your mobile phone or laptop.

There are many compelling reasons to trade with Bybit P2P HotSwap, but here are three of the most important ones:

P2P HotSwap is not only a convenient and secure way to buy and sell crypto with fiat but also a potential source of income for savvy traders. Following are three methods you can use to earn money with P2P HotSwap.

This strategy exploits the price difference of the same cryptocurrency on different exchanges. You can use P2P HotSwap to buy crypto at a lower price and sell it at a higher price on another exchange, earning a profit from the difference. For example, suppose Bitcoin sells for $11,000 on Bybit HotSwap and $11,200 on another exchange. In that case, you can buy it on Bybit using P2P HotSwap, and sell it immediately on the second exchange to earn revenue.

This is a similar strategy that exploits price differences for the same cryptocurrency in different fiat currencies. You can use P2P HotSwap to buy crypto with one fiat currency and sell it with another, earning a profit from the exchange rate. For example, if Bitcoin sells for 28,796 AUD ($19,852) on Bybit and 30,926 AUD ($21,328) on another crypto exchange, you can buy it on Bybit using P2P HotSwap with AUD, and sell it on the second exchange using P2P HotSwap with USD for more revenue.

You can earn money by posting trade advertisements on P2P HotSwap. Set your own price and payment method for buying or selling crypto, and attract other users who are interested in your offer. In this way, you can earn money from the spread between your price and the market price, as well as from the fees you charge for your service. For example, if Bitcoin sells for $11,000 on the market, you can post an ad to sell it for $11,100 using P2P HotSwap, earning a profit of $100 per transaction. You can also charge a fee of 0.5% for your service, making an extra $55 per transaction.

. It’s easy and fast, and you can start trading in minutes with the following steps:

If the seller fails to release the purchased coins after 10 minutes, click on 

 to get your funds back. A customer support staff member will reach out to you to resolve the issue. Make sure you do not cancel the trade until you’ve received a full refund.

Bybit P2P HotSwap is a peer-to-peer trading platform that offers a convenient and secure way to buy and sell crypto with fiat currencies. You can enjoy zero transaction fees, 24/7 security and support, and a wide range of payment methods and currencies. You can also earn money with P2P HotSwap using various methods, such as crypto arbitrage trading, fiat arbitrage trading and posting ads. P2P HotSwap is easy to sign up for and use, and you can access it from anywhere in the world using your mobile phone or laptop. If you’re looking for a fast and flexible way to trade crypto with fiat, Bybit P2P HotSwap is the platform for you.

Intermediate

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How to Earn Money With P2P HotSwap on Bybit

P2P HotSwap is a gateway for you to exchange fiat-to-crypto and vice versa without any fees & without any intermediaries intervention. Learn how does it work.

In the world of DeFi trading, peer-to-peer (P2P) functionality is nothing new. Still, its inception has revolutionized the way we interact in the trading scene, enhancing accessibility, liquidity and user control and fostering a more inclusive financial ecosystem for cryptocurrencies. P2P facilitates crypto-to-fiat exchange (and vice versa) directly with a user, rather than via intermediaries such as spot exchanges. 

 has gained popularity particularly because it reduces transaction costs and increases flexibility, giving users greater control over their trades. With P2P, users can negotiate their desired trading terms, including prices, exchange preferences, preferred payment methods and more. 

Bybit P2P features an easy-to-use platform to help facilitate the direct buying, selling and exchanging of cryptocurrencies using fiat currencies at optimal, agreed-upon prices between buyers and sellers. As trading demand increases, Bybit continues to evolve, offering more competitive asset conversion with the recent launch of P2P HotSwap. 

P2P HotSwap is a new service on Bybit that allows users to buy and sell cryptocurrencies via the P2P trading platform. Compared to its predecessor (P2P Trading), P2P HotSwap allows users access to more advertisers and third-party liquidity providers, and ensures more competitive rates for stablecoin conversions and access to a wider range of crypto assets. 

P2P HotSwap utilizes a transparent interface for users and advertisers to gain a competitive advantage. Buyers can access timely payment and release of the crypto assets they want to exchange, while premium (verified) advertisers gain the priority to be recommended first. 

P2P HotSwap empowers users with superior control and flexibility over their trades for negotiating deals, choosing their preferred payment methods and setting their own prices. 

In addition, this new feature optimizes trading of popular cryptocurrencies by leveraging the collaborative capabilities of P2P advertisers and external liquidity providers. This enables users to enjoy a more customized experience by adapting their specific requirements and minimizing the need for disclosure of personal information to third parties.

Here are the supported cryptocurrencies: 

: The supported fiat currencies and coins listed above are only for reference. Availability is subject to change.

Following is an overview of how Bybit P2P HotSwap works.

Scenario: Buyer to buy BTC with local fiat (USD) using P2P HotSwap

 on the platform to place an order for XYZ tokens, using the preferred local currency (USD).

 to provide conversion quotations to convert USD into BTC.

, who may offer a better quote to convert their USD into BTC.

4. The converted BTC will then be deposited into 

Scenario: Selling coins for USDT via P2P HotSwap

, but the order creation time exceeds 15 minutes, the order will automatically be canceled. In such cases, the coin the buyer wants to sell will be converted into an equivalent stablecoin (USDT), based on the conversion rate, and returned to the buyer’s 

: The coins will not be converted into a stablecoin (USDT) if the buyer hasn't made the payment.

 wants to sell 1 BTC for 30,000 EUR and create an order at 4:OOPM UTC. The following are three possible scenarios.

 releases 1 BTC to them, the transaction is complete. 

 successfully sells their BTC for 30,000 EUR.

 doesn’t complete payment, and manually cancels the order at 4:20PM UTC (within the 30-minute time frame for the advertisement payment). 

 is credited with their original BTC upon cancellation.

 has completed the payment, and at 4:20PM UTC (order creation time exceeds 15 minutes), the BTC to sell will be converted into USDT, based on the conversion rate, and returned to 

How Does Bybit Recommend Advertisers to Buyers on P2P HotSwap?

Bybit will match the buyers and sellers with the closest preferences, depending upon the user's preferences or the filter set, to ensure efficient and transparent transactions. 

Following are some rules we suggest advertisers follow for a more seamless match:

Bybit Guide

Bybit Card

Bybit Lending

Bybit VIP

Bybit UTA

Bybit Earn

Tools Discovery

P2P Guides

Bybit NFT

Bybit Trading Bot

Copy Trading

MT4

Derivatives

Bybit Institutional Services

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