Peer-to-peer (P2P) trading in some places is called Customer-to-Customer (C2C) trading. In this type of trading, the users purchase and sell cryptocurrencies on a P2P exchange, marketplace, or platform.
During trade executions, the P2P platform helps in ensuring the security and timely delivery of digital assets. These P2P platforms act as trade facilitators and offer platforms to both sellers and buyers to display their offers.
The answer to this question is NO. The offers you see on the P2P platform are not offered by PayBito. These offers are provided by users individually and PayBito serves as a platform to facilitate P2P trading.
Escrow protects all forms of online trades. Whenever an advertisement is posted, the cryptocurrency’s amount becomes automatically reserved from the Funding Wallet of the seller. So, if the seller does not release your crypto, the Customer Support agents can release those cryptos from the reserved funds.
When you are selling, always remember to say no to releasing the assets before confirming that you received the funds from the purchaser. Please also remember that some payment methods are not instant and some carry the risk of chargebacks.
- Log in to your Pay Bito App or you can tap P2P trading from the App homepage.
- You can use the P2P zone or the Express to trade with other users.
- Select the crypto you want to purchase. You can see the available offers on the market. You can tap [Buy] next for a preferred offer.
- After tapping on [Buy], you can select the crypto that you want to buy. Then enter the fiat amount you want to spend. Or Tap to enter the crypto amount you wish to get.
In case you are facing difficulty receiving crypto after 15 minutes of tapping, then you may contact the seller directly by tapping the Chat icon on the top. You can choose to contact Customer Support agents for further assistance.
- Open the PayBito website select Buy Crypto and then go to P2P trading
- In the Sell option, you can select the order with a few filters. This will include selling Bitcoin which you would like to sell. You can choose the local currency you want to receive. Choose the preferred payment method
- Once you pick the preferred order, enter the quantity of the crypto to sell local currency. It may include the amount you would like to receive. You can also choose the payment method too.
- Select Sell once the details are all checked.
Once the buyer finishes the payment, then you can double-check the correct amount.
HCX, Ripple, ETH, BTC, Litecoin, Bitcoin SV, Ethereum Classic, AVAX, and EOS are some of the cryptocurrencies supported in the P2P trade zone.
In case, your preferred payment method is not available on PayBito, you can suggest new payment methods for review.
- Log in to your PayBito and go to P2P
- Tap on the Profile section and select Payment Method
- Tap on the Add a New Payment Method and select All Payment Methods
- Fill up the request form and the details of the preferred payment method and tap Submit.
Scammers always try out new ways to scam people and steal their hard-earned money. There are some ways in which you can protect yourself against fraud.
- Scammers guarantee quick profits and big returns. Never trust people or organizations that promise quick money and easily make money in the markets.
- Scammers often dupe people with false promises such as “zero risk” investments with high returns. Be careful while starting on social media or online dating apps or sites.
- Fake investment managers may contact you out of the blue. They may promise you to grow money and buy cryptocurrency.
- Some other tips are very often scammers promise free money, and make big claims without details.