Bybit P2P Trading FAQ

1. What is Bybit P2P Trading?

Bybit P2P (Peer-to-Peer) trading allows users to buy and sell cryptocurrencies directly with each other on the Bybit platform. This system eliminates the need for intermediaries, providing a streamlined, user-friendly experience.

2. How Does Bybit P2P Trading Work?

On Bybit, users can post buy or sell advertisements for cryptocurrencies. Other users can then respond to these ads to execute trades. The platform ensures the security of transactions through an escrow service, where funds are held until both parties confirm that the transaction terms have been met.

3. How Do I Start Using Bybit P2P Trading?

To get started, follow these steps:

• Register on Bybit: Create an account if you don't already have one.
• Complete KYC Verification: Ensure you have completed Know Your Customer (KYC) verification.
• Fund Your Account: Deposit funds into your Bybit account.
• Browse Ads: Check the P2P trading section for buy or sell ads.
• Create an Advertisement: If you want to trade, you can create your own ad specifying the amount, price, and other terms.

4. What Are the Fees Associated with Bybit P2P Trading?

Bybit does not charge any fees for P2P trading. However, it's important to review the terms of individual advertisements, as sellers may include transaction fees in their pricing.

5. How Secure Is Bybit P2P Trading?

Bybit employs a robust security system to protect users' assets. Funds are held in escrow until the trade is completed, reducing the risk of fraud. Additionally, Bybit offers a dispute resolution service to handle any issues that may arise during a transaction.

6. How Do I Resolve Disputes in Bybit P2P Trading?

If a dispute arises, users can submit a ticket through Bybit's customer support. The support team will review the case and make a decision based on the evidence provided by both parties.

7. Can I Trade All Cryptocurrencies on Bybit P2P?

Currently, Bybit P2P trading supports a limited selection of cryptocurrencies. For the most up-to-date list of supported cryptocurrencies, check the P2P trading section on Bybit's website.

8. What Are the Advantages of Bybit P2P Trading?

• No Intermediaries: Direct transactions between users.
• Lower Fees: No trading fees from Bybit.
• Secure Transactions: Funds are held in escrow until the trade is confirmed.
• Flexible Trading: Users can set their own prices and terms.

9. Are There Any Limitations to Bybit P2P Trading?

• Supported Cryptocurrencies: Limited to specific cryptocurrencies.
• KYC Requirements: Users must complete KYC verification to trade.
• Geographical Restrictions: Some regions may have restrictions or additional requirements.

10. How Do I Contact Bybit Support?

For support, users can reach out through Bybit’s support center on their website or via the app. Support is available through various channels including live chat and email.