Here’s a detailed walkthrough to help sellers complete their first P2P (Peer-to-Peer) transaction on Bybit.
Key Notes Before Starting:
- Funds Requirement: Ensure your crypto is deposited in the Funding Account, as P2P trades only process through this account.
- Zero Fees: Bybit P2P charges no transaction fees for buyers or sellers.
- Security Measures: High-risk transactions may trigger a 24-hour withdrawal restriction on involved accounts.
- Account Matching: Your registered bank account name must match your Bybit KYC details to avoid suspension or rejected orders.
Step-by-Step Process
Step 1: Access P2P Platform
- Navigate to More → P2P on the homepage.
- For bulk sales, select P2P Trading → Block Trade.
Step 2: Set Trade Parameters
On the Sell page, specify:
- Cryptocurrency and amount
- Fiat currency
- Payment method (add one if unavailable)
Advertiser Metrics:
- Order Count: Number of orders placed in 30 days.
- Completion Rate: Percentage of successful trades.
Other Details:
- Price: Reference rate offered by the counterparty.
- Limit/Min-Max: Advertised available balance and transaction limits.
Step 3: Select an Ad & Initiate Sale
- Choose a preferred buyer’s ad.
- Click Sell.
Step 4: Enter Transaction Details
Input either:
- Crypto amount to sell OR
- Fiat amount to receive.
Click Sell to proceed.
Step 5: Order Confirmation
- A countdown timer starts; the buyer must pay within this period.
- Use Contact Buyer for real-time chat.
Step 6: Finalize Transaction
a. Successful Payment:
- Click Release after confirming funds are received.
- Verify via 2FA or Fund Password.
Warning: Only release tokens after verifying payment.
b. Failed Payment:
- Unpaid orders auto-cancel; tokens return to your Funding Account.
- Dispute unresolved issues via Order Dispute?
FAQs
1. What if my bank name doesn’t match my Bybit registration?
Mismatched names may suspend your account. Update KYC details or use a compliant bank account.
2. How long do disputes take to resolve?
Typically 1–3 days. Provide UID, order ID, and screenshots for faster resolution.
3. Can I cancel a P2P order?
Yes, if the buyer hasn’t paid. Tokens will be refunded automatically.
Troubleshooting
- No Payment Received: Wait 10 minutes, then contact the buyer or file a dispute.
- Expired Dispute Window: Submit queries via Bybit’s support form.
For additional help:
This guide ensures a seamless, secure P2P selling experience. Always prioritize verification to avoid scams.