Peer-to-peer (P2P) trading has revolutionized the way users buy and sell cryptocurrency by enabling direct exchanges between individuals using local fiat currencies. Unlike traditional exchanges that limit payment options, P2P platforms offer greater flexibility, accessibility, and user control. This comprehensive guide walks you through everything you need to know about P2P trading—specifically how to convert crypto to fiat and vice versa—using secure, trusted processes.
Whether you're new to digital assets or an experienced trader, understanding how P2P marketplaces work is essential for maximizing convenience and minimizing risk. From setting up your payment methods to resolving disputes, we’ll cover all the key steps in detail.
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- P2P trading
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- sell cryptocurrency
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Essential Steps Before Using a P2P Marketplace
Before you can start trading on any reputable P2P platform, two critical prerequisites must be completed:
- Complete KYC (Know Your Customer) identity verification
- Add at least one verified payment method
KYC ensures compliance with global financial regulations and enhances security for all users. Once verified, you can proceed to link your preferred payment channels—such as bank transfers, e-wallets, or virtual banks—so you’re ready to trade instantly when opportunities arise.
👉 Learn how to securely start converting crypto to fiat today.
How to Add a Payment Method
Setting up your payment method is simple and takes only a few minutes.
Step 1: Access P2P Trading
Open the app and navigate to P2P trading on the main page in Pro mode. If you don’t see this option, switch modes by tapping your profile icon in the top-right corner of the Home screen and selecting Pro mode.
Step 2: Navigate to Payment Settings
Tap More in the bottom-right corner of the navigation toolbar, then select Payment from the menu.
Step 3: Choose Currency & Add Account
Select your preferred fiat currency and tap Add Account. You’ll see a list of supported payment methods.
Step 4: Select Your Preferred Method
Choose from options like bank transfer, mobile wallets, or online banking systems. Keep in mind: individual sellers decide which methods they accept, so having multiple options increases your trading flexibility.
Step 5: Enter Details & Confirm
Fill in the required information (e.g., bank account number, wallet ID), complete two-factor authentication (2FA), and tap Save. You’re now ready to buy or sell.
How to Buy Cryptocurrency via P2P
Buying crypto through a P2P marketplace gives you control over price, payment method, and counterparty selection.
Step 1: Open P2P Trading
Log into your account and tap P2P trading.
Step 2: Set Buy Parameters
Ensure Buy is selected at the top. Choose your desired cryptocurrency and the fiat currency you’ll use for payment. Filter offers by payment method or available amount, then tap Buy next to your chosen offer.
Step 3: Enter Purchase Amount
Specify how much crypto you want to buy or the fiat amount you wish to spend. Select your saved payment method and tap Buy [Crypto].
Step 4: Review Order & Proceed
The platform will temporarily hold the seller’s crypto in escrow. Do not make payment if the countdown timer is near expiration—funds are automatically released when time runs out. Use the chat feature if you need clarification; otherwise, tap Continue.
Step 5: Make Payment
You’ll see the seller’s payment details (e.g., bank account). Transfer the exact amount using the agreed method. Double-check all details before sending.
Step 6: Confirm Payment
Once transferred, tap Payment Completed. The seller will review and confirm receipt. Upon approval, the held crypto is released to your funding account.
How to Sell Cryptocurrency via P2P
Selling crypto allows you to cash out directly to your local bank or digital wallet.
Step 1: Open P2P Trading
Log in and tap P2P trading.
Step 2: Select Sell Option
Make sure Sell is active at the top. Choose your payout currency and the crypto you want to sell. Filter offers by method or volume, then tap Sell on your preferred listing.
Step 3: Input Trade Details
Enter the amount of crypto to sell or the fiat value you’d like to receive. Review and tap Sell [Crypto].
Step 4: Confirm Payment Method
Select how you’d like to receive funds, verify trade details, complete 2FA, then tap Sell to confirm.
Step 5: Wait for Buyer’s Payment
After placement, wait for the buyer to send funds. You’ll get a notification under My Orders once payment is marked complete.
Step 6: Verify & Release Crypto
Check your bank or wallet to confirm receipt. Never rely solely on screenshots—verify through your own financial records. Only then should you tap Release Crypto.
Important: Only release crypto after independently confirming payment has cleared. Releasing prematurely could result in financial loss.
Steps 7–9: Finalize Transaction
Confirm the details match exactly, check the acknowledgment box, tap Confirm, and receive confirmation of a successful trade.
👉 Start selling cryptocurrency with flexible payment options now.
Frequently Asked Questions (FAQ)
Q: Is P2P trading safe?
A: Yes, when conducted on regulated platforms with escrow protection. Funds are held securely until both parties fulfill their obligations, minimizing fraud risk.
Q: What happens if a buyer doesn’t pay?
A: If no payment is made within the time limit, the order expires and crypto is returned to the seller automatically.
Q: Can I use multiple payment methods?
A: Absolutely. Adding several methods increases visibility and match opportunities with potential buyers or sellers.
Q: How long does it take to convert crypto to fiat?
A: Most transactions settle within minutes when using instant payment methods. Bank transfers may take several hours depending on your region.
Q: What should I do if there’s a dispute?
A: First, communicate with the other party. If unresolved, file a dispute via My Orders > Dispute, and customer support will mediate fairly using transaction evidence.
Q: Are there fees for P2P trading?
A: Most platforms do not charge users directly for P2P trades—the cost is typically borne by advertisers or embedded in pricing spreads.
How to Resolve a Dispute on a P2P Marketplace
Disputes may arise if a buyer claims they paid but the seller hasn’t released crypto—or vice versa.
Before escalating:
- Allow reasonable time for processing (especially for non-instant bank transfers)
- Communicate directly with the counterparty via built-in messaging
If unresolved:
- Go to My Orders
- Locate the relevant trade
- Tap Dispute
The platform’s support team will step in as a neutral mediator, reviewing chat logs, payment proofs, and transaction data to reach a fair resolution.
Understanding P2P Order Cancellation Rules
Flexibility exists—but with important limitations.
When buying:
You can cancel anytime before marking payment as complete. After cancellation, held crypto returns to the seller. Avoid last-second cancellations close to timeout; instead, cancel early and re-initiate if needed.
When selling:
You cannot unilaterally cancel after the buyer has paid. Doing so violates trust and may trigger penalties.
Never cancel a paid order without first coordinating a refund agreement with the buyer.
👉 Maximize your trading flexibility with a secure P2P platform today.