Cryptocurrency trading can seem overwhelming at first, but with the right guidance, anyone can get started confidently. If you're new to digital assets, this guide will walk you through how to buy and sell cryptocurrency on the Bybit C2C platform—step by step. From account registration to completing your first trade, we’ll cover everything clearly and concisely so you can operate independently and securely.
Whether you're looking to purchase Bitcoin with Chinese yuan or cash out your holdings, the Bybit C2C marketplace offers a seamless peer-to-peer (P2P) experience backed by platform security. Let’s dive into the full process.
Step 1: Register a Bybit Account
Before you can trade, you need to create an account on Bybit.
- Visit the official website: Go to the Bybit homepage.
- Click “Register”: Locate the registration button in the top-right corner and click it.
Enter your details:
- Choose to sign up using either your email address or mobile number.
- Set a strong password and complete the verification via email or SMS.
Complete KYC (Identity Verification):
- While not always mandatory for C2C trading, completing Know Your Customer (KYC) verification increases your transaction limits and enhances account security.
- Upload a government-issued ID and follow the prompts to verify your identity.
👉 Start your secure crypto journey today with a trusted global platform.
Step 2: Deposit Fiat Currency (e.g., Chinese Yuan)
To buy crypto using local currency like Chinese yuan (CNY), you’ll need to deposit funds into your Bybit account via the C2C section.
Navigate to C2C Trading:
- After logging in, go to “Assets” or “Wallet,” then select “C2C Trading.”
Initiate a Deposit:
- Click “Deposit” and choose CNY as your fiat currency.
- Select your preferred payment method—common options include Alipay or WeChat Pay.
Complete the Transfer:
- Follow the on-screen instructions to transfer funds from your linked payment account.
- Once confirmed, the deposited amount will appear in your C2C wallet balance.
This balance is now ready to use for purchasing cryptocurrencies directly from other users on the platform.
Step 3: Buy Cryptocurrency (Example: Bitcoin)
Now that your account is funded, let’s walk through buying Bitcoin (BTC) using CNY.
Select “Buy”:
- On the C2C trading page, click “Buy” and choose BTC as the cryptocurrency.
- Set CNY as your fiat currency.
Browse Available Sellers:
- The system displays multiple sellers offering BTC at different prices and payment methods.
- Use filters to narrow results by price, payment type (e.g., Alipay), and transaction volume.
Evaluate Seller Reliability:
- Check each seller’s completion rate, number of transactions, and user ratings.
- Avoid sellers with low trust scores or negative reviews.
Place Your Order:
- Click “Buy BTC,” enter the amount (e.g., 1 BTC), and confirm the order.
- Bybit locks the seller’s crypto in escrow, ensuring security.
Make Payment:
- You’ll see the seller’s payment details (e.g., Alipay account).
- Complete the transfer using your chosen method.
Confirm Payment:
- Return to Bybit and click “I have paid.”
- The seller will review the payment; once confirmed, they release the BTC to your wallet.
✅ Your Bitcoin is now securely stored in your Bybit wallet.
Step 4: Sell Cryptocurrency for Fiat
Ready to convert your crypto back into cash? Here’s how to sell Bitcoin for CNY.
Go to C2C Trading Page:
- Select “Sell” instead of “Buy.”
Choose Assets:
- Pick BTC as the cryptocurrency to sell and CNY as the desired payout currency.
Review Buyer Offers:
- Browse active buyers who are willing to purchase BTC via Alipay, WeChat, or other supported methods.
Set Trade Terms:
- Enter the amount of BTC you want to sell and select your preferred payment method.
Accept Offer & Receive Funds:
- Confirm the trade. The buyer will send CNY to your specified account.
Release Crypto After Confirmation:
- Only release the Bitcoin after verifying that the funds have arrived in your account.
- Click “Release” once payment is confirmed.
⚠️ Never release crypto before receiving payment—this protects you from fraud.
👉 Discover how easy it is to turn crypto into real-world value with fast, secure transactions.
Step 5: Key Tips for Safe C2C Trading
To ensure smooth and secure trades, keep these best practices in mind:
- ✅ Always verify payments before releasing cryptocurrency.
- ✅ Use only platform messaging for communication—never move conversations outside Bybit.
- ✅ Check counterparty reputation: Prioritize users with high completion rates and positive feedback.
- ✅ Understand fees: While many C2C trades are fee-free, some payment methods or promotions may involve costs.
- ✅ Leverage escrow protection: Bybit holds crypto in escrow until both parties fulfill their obligations.
Real-World Example: Buying 1 BTC with 100,000 CNY
Let’s apply what we’ve learned with a practical scenario:
- You deposit 100,000 CNY via Alipay into your Bybit C2C wallet.
- Navigate to “Buy BTC” and filter for sellers accepting Alipay.
- Find a trusted seller offering 1 BTC at exactly 100,000 CNY.
- Place the order and complete the bank transfer to their Alipay account.
- Mark “I have paid” on Bybit.
- Seller confirms receipt and releases BTC.
- Within minutes, 1 BTC appears in your wallet.
This entire process typically takes under 15 minutes with responsive trading partners.
Frequently Asked Questions (FAQ)
Q: Is KYC required to use Bybit C2C?
A: Not strictly required for basic trading, but completing identity verification unlocks higher limits and improves trust with trading partners.
Q: How long does a C2C transaction take?
A: Most trades complete within 5–15 minutes, depending on how quickly both parties act—especially payment confirmation.
Q: What happens if a seller doesn’t release my crypto after payment?
A: Bybit provides dispute resolution support. Submit evidence (e.g., payment receipt), and customer service will intervene to protect your funds.
Q: Can I trade without using Alipay or WeChat?
A: Currently, these are among the most common methods in China; availability depends on regional support and individual seller preferences.
Q: Are there fees for buying or selling on Bybit C2C?
A: Typically, no direct trading fees are charged for P2P transactions, though payment platforms may apply their own charges.
Q: Where is my cryptocurrency stored after purchase?
A: Purchased assets are automatically transferred to your Bybit wallet, where you can hold, trade, or withdraw them securely.
Final Thoughts
The Bybit C2C platform simplifies the process of converting fiat into cryptocurrency and vice versa. With intuitive navigation, robust security features like escrow protection, and access to a wide network of verified traders, it's an ideal starting point for beginners entering the crypto space.
By following this guide—from registration and depositing funds to executing safe trades—you now have all the tools needed to confidently buy or sell Bitcoin and other digital assets using Chinese yuan.
👉 Take control of your financial future—join millions already trading smart on a leading platform.
Remember: Always prioritize safety, double-check transactions, and use only official channels. With practice, P2P crypto trading becomes second nature—and opens doors to greater financial freedom.