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P2P on Bybit Trading: Everything You Need to Know

Understanding Peer-to-Peer Trading 

Peer-to-peer (or P2P) trading is a form of trade in which buyers and sellers directly exchange their coins and fiat assets.

What is Bybit Peer-to-peer (P2P)?

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. Please note that Bybit does not provide the buy and sell offers on the P2P page.

Currently, P2P on Bybit supports nine fiat trading pairs: INR/USDT, VND/USDT, AUD/USDT, HKD/USDT, MYR/USDT, PHP/USDT, RUB/USDT, TWD/USDT and UAH/USDT.

Bybit P2P Fees Explained

The fee structure of P2P trading corresponds to two different types: taker and maker.

P2P on Bybit offers zero transaction fees for takers and makers. 

Taker Fee RateMaker Fee Rate
All Fiat Trading Pairs0%0%*
*Rate subject to change

Note:

— The taker is the user who buys or sells coins by placing an order through existing advertisements on the P2P platform. 

— The maker is the user who posts trade advertisements. 

To learn more about fees on the P2P platform, please refer to P2P on Bybit: Fees Explained.

How to Start Using P2P on Bybit 

Can’t wait to start your P2P trading journey? Here’s a step-by-step guide to help you start your first P2P transaction on Bybit.

For Buyers

Step 1: Please click on Buy Crypto –> P2P Trading on the top left corner of the navigation bar to enter the P2P trading page. 

Next Level Training

Step 2: On the Buy page, you can filter advertisers by entering your desired criteria for AmountFiat Currencies or Payment Methods, based on your transaction needs. 

Payment Methods

Step 3: Choose your preferred advertisement, and click on Buy USDT

Buy USDT

Step 4: Enter the amount of fiat you want to pay, or the amount of coins you want to receive. Click on Buy to proceed. 

Buy to proceed

You’ll be redirected to the order page, where you’ll have 15 minutes to transfer the money to the seller’s bank account. Note: Please verify that all of the order details are correct before proceeding. 

Step 5: Click on Payment Completed once you’ve completed the payment. 

Payment Completed

Step 6

a. Once the coins you’ve purchased have been successfully released by the seller, you can click on Check Asset to view them, along with your transaction history. You can also check your order status from the P2P order history

P2P order history
Buy Crypto Zero Transaction Fees via Bybit P2P

b. If the seller fails to release the coins after 10 minutes, you can click on Submit Appeal

Our customer support team will reach out to you. During this period, please do not cancel the order unless you’ve received a refund from your seller.

Submit Appeal

For Sellers

Step 1: Please click on Buy Crypto –> P2P Trading on the top left corner of the navigation bar to enter the P2P trading page. 

Next Level Training 2

Step 2: On the Sell page, you can filter advertisers by entering your desired criteria for AmountFiat Currencies or Payment Methods, based on your transaction needs. 

Amount, Fiat Currencies or Payment Methods

Step 3: Choose your preferred advertisement, and click on Sell USDT

Sell USDT

Step 4:

a. Enter the amount of USDT you want to sell, or the amount of fiat currency you want to receive. Click on Sell to proceed. 

Click on Sell to proceed

Step 5: During the pending process, the buyer will have 15 minutes to complete the payment. 

Sell USDT2

Step 6

a. Once you’ve successfully received your payment from the buyer, click on Release Now to release your coins.

Click on Release Now

What If the Transaction Failed?

Order transaction has failed:

1) If the buyer did not complete the payment within 15 minutes, the order will automatically be canceled. The coins reserved on the P2P platform will also automatically be returned to your Spot Account.

2) If you’re notified that the payment is completed, but have yet to receive the payment after 10 minutes, you can click on Submit Appeal. Our customer support team will reach out to you.

Click on Submit Appeal

For more details on how to buy or sell, please refer to the following two articles:

1. How to Buy Coins on P2P

2. How to Sell Coins on P2P

Can I Trade Without KYC?

It depends on the amount of your trade. Once the transaction amount exceeds the daily limit, identity verification is required.

Please refer to the following table for details:

Fiat CurrencyDaily Transaction Limit
Buyer (USDT)Seller (USDT)
INR500 USDT  No verification is required.
VND500 USDT 
AUD1,000 USDT 
HKD1,000 USDT 
MYR1,000 USDT 
PHP1,000 USDT 
RUB1,000 USDT 
TWD1,000 USDT 
UAH1,000 USDT 
Does not include advertisers. Advertisers require KYC verification.

As a buyer, if the daily transaction amount exceeds the limit specified in the above table, you’re required to complete KYC verification.

Simply proceed with the following steps:

1. Click on Account & Security in the upper right-hand corner of the page.

2. Click on Verify Now in the Identity Verification column under Account Information.

3. Click on Verify Now under Level 1 Basic Verification.

Account Information

Or you can click here to complete the verification. 

To learn more about the KYC verification process, please refer to the Individual KYC FAQ.

Is P2P on Bybit Safe?

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.

Notes When Trading P2P on Bybit

P2P on Bybit offers zero transaction fees for both buyer and seller. We support more than 80 payment methods, including debit cards, credit cards, in-person cash payments, and more.

However, traders may need to pay transaction fees to the payment provider based on the payment method selected.