P2P (peer-to-peer) trading, otherwise referred to as C2C (customer-to-customer) is the direct exchange (buy or sell) of cryptocurrencies between users on a P2P marketplace, platform, or exchange.
Bitget P2P trading serves as a facilitator in the trading process by providing both buyers and sellers with a platform to broadcast their offers. Additionally, it provides security and ensures safe and timely movement of assets during trades.
If you’re curious about Bitget and the Bitget P2P trading platform, read on to find out how you too can join the platform and start trading today.
Bitget Overview
Bitget is one of the world’s largest crypto trading platforms. Established in 2018, Bitget serves over 20 million global users across 100 countries and has a daily trading volume of 10 billion USDT.
Today, Bitget has extended its range of services to include spot, futures, and spot trading, staking, Launchpad, among others. Moreover, it offers over 500 listed digital tokens and 500+ trading pairs.
In this guide, we take a deep-dive into Bitget’s P2P trading marketplace, how it works, its pros and cons, and how you can utilize it to buy or sell cryptocurrency tokens.
To learn more about Bitget, check out our in-depth Bitget review.
Pros and Cons of Bitget P2P Trading
| 👍 Pros | 👎 Cons |
|---|---|
| ✅ Zero trading fees | ❌ Mandatory KYC verification |
| ✅ ID verification (KYC) | ❌ Not available in certain regions (US) |
| ✅ Two-factor authentication | ❌ Some payment methods are not instant (risk of chargebacks) |
| ✅ 500+ listed cryptocurrency tokens | |
| ✅ 500+ trading pairs | |
| ✅ 100+ flexible payment methods | |
| ✅ 24/7 customer support | |
| ✅ Escrow protection | |
| ✅ Trade at customizable/preferred prices | |
| ✅ Privacy protection |
Understanding Bitget P2P Trading
Bitget P2P trading provides a platform where Bitget users can broadcast their offers, while ensuring the safety and timely delivery of assets during a transaction. Every offer that appears on the Bitget P2P market is not offered by Bitget.
All P2P transactions are protected by escrow to minimize the risk of frauds or scams. In addition, all counterparties are required to complete KYC verification before they can execute a P2P trade.
They are also required to enable 2FA (two-factor authentication) to facilitate certain functions such as receiving payments and releasing coins during P2P trades.
Moreover, there are no fees for P2P trading on Bitget. However, some payment service providers may charge extra transaction fees, depending on the payment method you use.
How to Buy Crypto Using Bitget P2P Trading
Buying crypto on Bitget P2P is as easy as placing an order, paying the seller, and receiving your crypto in value.
Additionally, you can buy various kinds of digital assets such as Bitcoin, Ethereum, or Tether by paying directly from your bank account, payment app, or digital wallet using a currency of choice (USD, INR, RUB, etc.).
If you’re stuck on how to do it, here’s a details step-by-step procedure:
1. Join Bitget and create an account. Do this by either downloading the Bitget app or visiting the official Bitget website.
2. Complete ID verification. KYC verification is necessary for all Bitget users to protect against financing risks and fraud.
3. Navigate to P2P trading by clicking on Buy Crypto > P2P Trading. Find it on the top left corner of the navigation bar.
4. Select an ad among the list of available ads. Ensure that they meet your requirements in terms of price and payment methods.
5. Place an order to buy crypto. Alternatively, you can create an ad in the marketplace for crypto as a Bitget P2P merchant. Click “Buy [Crypto].”
6. Make a transfer to the seller via the payment method in the order information.
7. After completing the fiat transaction, click the Paid button.
How to Sell Crypto Using Bitget P2P Trading
To sell crypto on the Bitget P2P trading platform, follow these steps:
1. Join Bitget and create an account. Do this by either downloading the Bitget app or visiting the official Bitget website.
2. Complete ID verification. KYC verification is necessary for all Bitget users to protect against financing risks and fraud.
3. Transfer your crypto from the Spot wallet to the P2P wallet. Then, click “Buy Crypto > P2P Trading > Sell.
4. Select the crypto you want to sell and the local fiat currency you want to receive. This will show you a list of all the available buyers.
5. Select a buyer that meets your requirements then click “Sell.”
6. Enter the quantity of crypto that you want to sell. The amount will be calculated based on the price set by the buyer.
7. Add a payment method, depending on the buyer’s preference. Click “Sell [crypto].”
8. In the Security verification pop up, enter your “Funding Code” and click “Confirm.”
9. The buyer will deposit the amount.
10. Confirm that you’ve received the right amount of funds. After, click “Confirm and release” to release the crypto to the buyer.
Bitget P2P Trading Checklist
For a secure and seamless P2P trading experience on Bitget, check out this comprehensive checklist:
- Review Merchant Reputation: Review the merchant history and feedback for information such as the advertiser badge, number of successful transactions, online status, and percentage of successful trades.
- Analyze Ad Details: Check the crypto unit price, the minimum & maximum limits per trade, the number of available coins, and payment methods supported.
- Filter Ads: Analyze and filter ads according to buy or sell, cryptocurrency, fiat currency, payment method and amount.
- Learn the Market: Ensure that you understand the value of the asset you want to trade before you initiate any P2P trade. Also, ensure you understand current market trends.
- Conduct Verification Checks: Verify whether the name on the payment account aligns with the platform’s real name verification for the user. Don’t release any assets if the names don’t match.
Bitget P2P Trading Tips
Maximize your success as a beginner on the Bitget exchange P2P trading marketplace by following the following tips:
- Practice Privacy: Ensure that you always practice privacy by not revealing any of your personal information. Don’t over share information during trades or otherwise.
- Utilize Security Features: Take advantage of Bitget security features such as 2FA for additional protection over your account.
- Communicate: Take advantage of Bitget’s chat box feature to communicate with your trade counterpart in case of any issues or misunderstandings.
- Escrow Services: Avoid conducting any “outside” trades and utilize Bitget’s escrow services. Bitget adds an extra level of security to your P2P trades, ensuring your crypto or money stays safe during trades.
Summary
Although the world of cryptocurrency trading might be complex or ridden with scams and frauds, the Bitget P2P trading provides a manageable platform.
For starters, Bitget P2P trading offers an easy to use interface with added features such as a secure escrow service, privacy protection, and zero trading fees. Compared to other exchanges in the same space, Bitget offers a stellar P2P trading platform.
It’s perfect for experienced traders and newcomers alike. Join Bitget today and start your crypto journey today!
FAQs
Is Bitget P2P Trading Safe?
Although there are risks of fraud, the Bitget P2P trading platform is fairly secure. Bitget has implemented a number of features such as escrow protection, 2FA, and KYC verification for an added level of security.
Does Bitget Require KYC for P2P?
Yes, Bitget requires identity verification or KYC for all its users. Verified users can access all of Bitget services and products, including P2P trading and enjoy high withdrawal limits, access to exclusive events, and unique P2P rewards.
What Are the Bitget P2P Merchant Requirements?
To become a Bitget P2P merchant, you will need to upload a photo of your ID card, complete the KYC verification (email, phone number), make a safety deposit, and submit your social media account info.
