Bitget P2P Introduction
Understanding P2P (Peer-to-Peer)
Definition
A peer-to-peer (P2P) network is a system where computers (called peers or nodes) share resources directly without needing a central server. In the context of cryptocurrencies, P2P exchanges let individuals buy and sell crypto directly with each other, without relying on an intermediary.
How Does Bitget P2P Work?
Bitget P2P (Peer-to-Peer) is a platform where Bitget users can buy and sell cryptocurrencies directly with each other, using local currencies. This system allows users to trade on their own terms, including setting prices, choosing payment methods, and deciding when to settle trades.
Listing and Matching
A seller creates a deal with their preferred price to trade their crypto at and publish it on Bitget P2P marketplace. This broadcasted deal is called an “advertisement”. The buyer finds the advertisement at their preferred price and places the order to buy.
Escrow Service
To ensure the security of the transaction, the cryptocurrency is usually held in an escrow service by Bitget P2P. This means that when the seller confirms the trade, the cryptocurrency is temporarily locked until the transaction is completed.
Payment Processing
The buyer makes the payment directly to the seller using the agreed-upon method (e.g., bank transfer, e-wallet).
Release of Funds
Once the seller confirms that they have received the payment, the escrow service releases the cryptocurrency to the buyer’s account.
The benefits of using Bitget P2P Trading
Anyone with a registered Bitget account, complete KYC verification, can trade on Bitget P2P. Using Bitget P2P Trading, you now can sell and buy cryptos with your local currencies and at your preferred prices and payment method.
Here are the main upsides of using the Bitget P2P trading system:
– Zero buy trading fees on Bitget P2P trading platform (Note: There might be bank/wallet charges depending on the payment method)
– Global marketplace with various payment methods: Bitget P2P offers users the freedom to easily choose the preferred payment method, including bank transfer, WebMoney, multiple global e-wallets, and online payment systems.
– Secure transactions: Once the buyer places an order, the seller’s asset will be locked by the platform. The Bitget team will intervene in case any dispute arises.
– 24/7 customer support with a perfect order dispute handling process and anti-money laundering protection.
How to trade on Bitget P2P
Step 1: Create an Account
If you are new to Bitget, you will need to sign up first and complete the KYC (Know Your Customer) process. Once your account is verified, you can start trading on the P2P marketplace and access all Bitget services.
Detailed guidelines: Your Quick Guide to KYC on Bitget
Step 2: Navigate to P2P Trading
On the Bitget website, click on 'Buy crypto', then select 'P2P trading' from the top-left navigation. Alternatively, click [HERE ] to go directly to the P2P trading page.
On the Bitget APP, click on 'Add funds', choose 'P2P trading', and under the 'Buy' / 'Sell' tab, you can customize your preferred local currencies, desired cryptocurrency, and payment method.
From there, you can follow the steps below to buy or sell cryptos.
Steps to buy cryptos on Bitget P2P
Step to sell cryptos on Bitget P2P
FAQ
1. How to become a Bitget P2P merchant?
As a Bitget P2P merchant, you can both buy and sell crypto, as well as create your own ads with customized prices. [Apply here to become a Bitget merchant]
Benefits:
- 24/7 customer support
- Exclusive perks like airdrops allocations
- Secure trading environment
2. Are the offers on Bitget P2P provided by Bitget?
No, the offers are provided by Bitget users, not Bitget itself. Bitget serves as a platform to facilitate P2P trades.
3. Are there transaction fees on Bitget P2P?
All Bitget P2P merchants can post ads with zero fees to lower the costs. All Bitget users can buy cryptos with zero fees on Bitget P2P.
*Please note that some payment method service providers may charge extra transaction fees.
4. How are P2P traders protected?
All online trades are protected by escrow. When a seller posts an ad, the amount of cryptocurrency is automatically reserved. If a seller fails to release the crypto, Bitget's customer support team can intervene.
Important: Sellers should confirm receipt of payment before releasing crypto. Some payment methods may not be instant and could involve the risk of chargebacks.
5. More guides for P2P users
How to prevent P2P trading fraud
How to submit a P2P appeal (Web version ) (APP version )
Bitget P2P Appeal handling rules
How do I transfer assets to the funding account?
How to add new payment methods for P2P trading
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