P2P Trading Frequently Asked Questions

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P2P (peer-to-peer) trading has become a popular method for buying and selling digital assets directly between users, offering flexibility, privacy, and competitive pricing. Platforms like Bybit have streamlined the process to make it secure and accessible for both beginners and experienced traders. This comprehensive guide answers the most common questions about P2P trading, helping you navigate the ecosystem with confidence.

Whether you're new to cryptocurrency or looking to expand your trading options, understanding how P2P works — from supported coins and payment methods to verification requirements and dispute resolution — is essential. Below, we break down everything you need to know in a clear, structured format.

What Is Bybit P2P?

Bybit P2P is a user-friendly and secure peer-to-peer trading platform that enables buyers and sellers to trade cryptocurrencies at mutually agreed prices. The system connects users directly, allowing for flexible negotiations while maintaining safety through escrow protection.

It's important to note that Bybit does not provide buy or sell quotes on the P2P page — all pricing comes directly from individual advertisers. This decentralized approach empowers users to find the best available rates based on real-time market demand.

👉 Discover how easy it is to start your first P2P trade today.

Supported Cryptocurrencies and Fiat Currencies

Bybit P2P supports a wide range of cryptocurrencies and fiat currencies, enabling global participation. Commonly traded digital assets include USDT, BTC, ETH, and more, while fiat options span numerous local currencies such as USD, EUR, GBP, INR, PHP, and others.

For an up-to-date list of supported pairs and any regional restrictions, visit the official P2P Order Limits page. Availability may vary depending on your location and the advertisers active in your region.

Is Identity Verification (KYC) Required?

Yes. To ensure platform security and compliance with anti-money laundering (AML) regulations, all users must complete either individual or business KYC verification before engaging in P2P trades.

Completing KYC enhances trust, increases trading limits, and unlocks access to premium features such as becoming an authorized or bulk advertiser.

Can I Use P2P on Web and Mobile App?

Absolutely. Bybit offers full P2P functionality across both the web platform and the mobile app, ensuring seamless trading anytime, anywhere. Features like order tracking, chat support, and payment management are synchronized across devices.

This cross-platform compatibility means you can start a trade on desktop and monitor its progress on your phone — ideal for users who value convenience and responsiveness.

What Is the Minimum Order Amount?

The minimum transaction amount varies by advertisement and is determined by the seller. While there’s no universal floor set by Bybit, most orders start from as low as $10–$50 equivalent in local currency.

Actual limits depend on:

Check each ad carefully for specific min/max values before placing an order.

Are There Any Fees for P2P Trading?

Bybit does not charge any fees for P2P transactions — neither buyers nor sellers pay platform commissions. However, third-party payment providers may apply their own charges, especially when using credit/debit cards or instant bank transfers.

To avoid surprises:

This zero-fee model makes Bybit P2P one of the most cost-effective ways to exchange crypto.

Why Am I Not Eligible to Trade?

You may be ineligible due to unmet advertiser requirements, such as:

Click the “Not Eligible” button on the ad to see exactly which criteria you don’t meet. Addressing these gaps — for example, by adding a required payment method — often resolves eligibility issues quickly.

Supported Payment Methods

Bybit P2P supports over 300 payment methods, including:

Users can manage their preferred methods via P2P User Center > Payment Methods. Click “Add Now” to include new options and increase match opportunities with advertisers.

Why Is "Bank Transfer" Listed Separately From Specific Banks?

While many banks are individually listed for faster filtering, the general “Bank Transfer” option allows users to transact with institutions not yet categorized. We recommend selecting your exact bank if available — this improves trust and speeds up transaction processing.

Can I Trade With Users From Other Countries?

Yes — as long as you can send and receive the required fiat currency through supported payment channels. Cross-border trading is possible but subject to:

Always confirm transfer details before initiating international payments.

How Do I Contact Support If I Encounter Issues?

If problems arise during a trade, contact Bybit Customer Support via the official support form. Select “P2P Trading” as your category to ensure prompt handling.

To expedite resolution:

Support typically responds within 1–2 business days.

What Should I Do If There’s a Dispute?

In case of discrepancies:

  1. First, use the in-order chat window to communicate with your counterparty.
  2. If unresolved, file an appeal directly through the P2P Order Page.
  3. Include evidence (payment proof, timestamps, messages).

Appeals are reviewed by Bybit’s mediation team, which acts impartially to protect both parties under platform rules.

👉 Learn how dispute protection keeps your funds safe during every trade.

Can Bulk Traders Be Both Bulk and Verified Advertisers?

Yes — provided you meet the eligibility criteria for both roles:

If approved for both, you’ll display dual badges. Ranking priority and appeal processing will follow bulk advertiser standards, giving you enhanced visibility and faster service.

How Do I Unfreeze My Bulk Trader Deposit?

To release your collateral:

  1. Go to the Bulk Advertiser Dashboard.
  2. Ensure no active orders or pending appeals exist.
  3. Submit an unfreeze request.

Once processed, you’ll lose bulk advertiser status until reapplying and redepositing. Plan accordingly to avoid disrupting ongoing operations.

How Do I Follow an Advertiser?

Build trusted relationships by following reliable traders:

  1. Click the advertiser’s username to open their profile.
  2. Tap Follow to bookmark them for future trades.

Following helps track performance trends and simplifies repeat transactions.

Managing Your Blocked Users List

Maintain control over who you interact with via P2P User Center > Blocked List Management. Here you can:

Blocking a user hides their ads from your feed (unless you're an advertiser), though visibility rules differ slightly based on role.

What Happens After I Unblock Someone?

Even after unblocking, you might still be unable to trade if the other party has blocked you. Unfortunately, there's no notification for this scenario. If eligibility persists despite fixes, consider choosing another advertiser.

Why Do Some Ads Require Extra Verification?

Ads marked with a “Verification Required” tag indicate that the seller wants additional assurance before proceeding. This could include:

These steps reduce fraud risk and build mutual trust — especially important for high-value trades.

What Happens If I Cancel Due to Failed Verification?

No penalties apply if:

Your completion rate remains unaffected, and the cancellation won’t count toward daily limits. This policy encourages honest participation without fear of unfair penalties.

👉 See how top traders maintain high ratings with smart verification practices.

Frequently Asked Questions (FAQ)

Q: Do I need KYC to view P2P ads?
A: You can browse ads without KYC, but you must complete verification to place any order.

Q: Can I edit my payment methods during an active trade?
A: No — payment details are locked once an order is created. Always double-check before confirming.

Q: How long do P2P trades usually take?
A: Most are completed within minutes; delays typically stem from slow bank processing or verification steps.

Q: Does Bybit hold my funds during the trade?
A: Yes — cryptocurrency is held in escrow until payment confirmation is verified.

Q: Can I leave reviews for traders I’ve dealt with?
A: While direct reviews aren’t supported, completion rate and trade volume serve as public trust indicators.

Q: Are there daily limits on P2P trading volume?
A: Limits depend on your verification level and history; higher tiers unlock greater capacity.

By understanding these core aspects of P2P trading, you’re better equipped to trade safely, efficiently, and profitably. Always prioritize security, verify details carefully, and leverage tools like blocking and following to enhance your experience.