How to Buy Crypto via P2P

2024-08-01

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Bitget Wallet is dedicated to helping users swiftly enter the Web3 world and easily acquire crypto assets. To achieve this, we have partnered with Bitget Exchange to offer a secure and convenient P2P (Peer-to-Peer) trading channel, enabling users to purchase cryptocurrencies with greater flexibility.

What is P2P Trading?

P2P, or Peer-to-Peer trading, involves direct transactions between individuals without the involvement of a centralized platform. Buyers and sellers match their trading needs through an online platform and then proceed with offline payment and cryptocurrency transfer. Compared to the OTC trading model, P2P offers more advantages in terms of flexibility, payment methods, and transaction costs.

Advantages of Bitget Wallet's P2P Trading

  1. Ease of Use: Our interface is simple and the process is clear, making it beginner-friendly.
  2. Support for Multiple Mainstream Cryptocurrencies: Users can purchase USDT, BTC, ETH, and 7 other mainstream cryptocurrencies.
  3. Multiple Payment Methods: Users can choose from various payment methods including bank transfer and online payment.
  4. Secure Transactions: Transactions are guaranteed by the world-leading Bitget Exchange that provides a "Verified Merchant" filter service to ensure transaction security.
  5. Periodic Reward Incentives: Users can participate in periodic P2P deposit reward activities and receive generous airdrop rewards.

How to Buy Crypto via P2P

Step 1: Open the Wallet page and Navigate to the Bitget P2P page

Go to the Wallet page and select Deposit in the top right corner. In the pop-up window, go to P2P trading under "I don't own digital assets" and select Buy. On the Bitget P2P page, you can switch between different fiat currencies. There are 7 mainstream cryptocurrencies available for purchase; let’s use USDT as an example.
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Step 2: Filter through Existing P2P Orders

Once you've selected the crypto that you'd like to purchase, you can filter through existing P2P orders in three ways:
  1. Limit Order: Filters orders by token amount.
  2. Payment method: Filters orders by payment methods.
  3. Verified Merchant: Lets you find reliable P2P sellers with good records.
If you find a P2P listing that fulfills your requirement, you can select Buy to proceed with the transaction.
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Step 3: Register for a Bitget Account and Complete KYC

If this is your first time making a P2P transaction, you'll be redirected to register for a Bitget account. Follow the prompts to complete registration.
*Please note that even if you already have a Bitget Exchange account, you'll need to register for a new Bitget account on this page.
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Before purchasing crypto via P2P, you also need to complete the KYC verification by selecting your region and uploading the required documents (front and back of the ID and a photo of you holding the ID).

Step 4: Confirm your P2P Order

After verification is done, you may return to the Bitget P2P page to confirm your P2P order. After selecting an open P2P order, you may choose to fulfill the order by buying By fiat or By crypto. Select your preferred payment method, fill in the payment amount and the address to receive the tokens.
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After confirming the details of the order, follow the prompts to make the payment to the merchant.
 
Note: By default, the "Payment Address" field will show your ETH (ERC20) address as the destination for receiving purchased tokens. However, you can change it to another network with lower gas fees, such as Tron, Arbitrum, Optimism, or Polygon. This helps reduce gas fees and avoids the additional costs of transferring tokens from the EVM chain to your preferred mainnet.

Step 5: Complete your P2P order

For fiat payments, select " I have transferred" and for crypto payments, select Transfer now and follow through with the payment steps. A P2P transaction is complete once payment has been verified and you receive the cryptocurrency from the merchant.
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Step 6: Check your P2P Transactions

You may view and check the status of your P2P transactions by returning to the homepage and tapping the Order icon in the upper right corner.
 

FAQ

1. How to choose a reliable trading partner?

You can check user ratings and select users with good reviews and trading records. Merchants with a good record are labeled as Verified Merchant.

2. How do I ensure that my transaction is secure?

You can use the platform's escrow service to guarantee the security of funds and cryptocurrencies. You should also enable two-factor authentication (2FA) for additional account security.

3.How to set the "Receiving Address" when buying tokens?

When buying tokens, you need to specify a wallet address where the tokens will be sent. If you use the default ETH (ERC20) address, you may incur higher gas fees. Unless you have a specific reason to receive tokens on the Ethereum chain, it’s advisable to change the "receiving address" to a network with lower gas fees, such as Tron, Arbitrum, Optimism, or Polygon. This can help you save on transaction costs.

4.What do I do if a transaction fails?

If the transaction is unsuccessful, check the payment information and your account balance, and then try again. If the issue persists, contact customer support for assistance.

5. What are the P2P transaction fees?

P2P transaction fees vary depending on platform policies and the trading partner's requirements. The specific fees for a P2P trade will be shown when confirming the transaction.

6. Can I view transaction records?

Click the history order icon in the upper right corner of the P2P page to view the status of incomplete transactions and all historical orders.

7. What are the transaction limits?

Transaction limits vary depending on platform policies and the trading partner's requirements. Check the relevant limits before trading.

8. Why do I need to complete KYC verification?

KYC (Know Your Customer) verification ensures the legitimacy of users' identities, preventing money laundering and other illegal activities. Completing KYC verification enhances account security and ensures smoother transactions.

9. Why are some P2P sell orders greyed out and unavailable for me?

Sellers can set specific requirements for buyers, such as location, purchase amount, or account registration duration. If a P2P sell order appears grayed out, it means you do not meet the seller’s criteria. Please select another P2P sell order.
 
If you encounter any issues while using Bitget Wallet for P2P transactions, please contact the official Bitget Wallet community on Telegram for assistance.
 
*Disclaimer: The information provided in this article is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly speculative and involve significant risk, including the potential for total loss. They are not insured or guaranteed by any government agency. We strongly recommend conducting thorough research and understanding the risks before making any investment decisions.
 

About Bitget Wallet

Bitget Wallet stands as one of the world's leading non-custodial Web3 wallets and decentralized ecosystem platform. With the Bitget Onchain Layer, the wallet is well-poised to develop a burgeoning DeFi ecosystem through co-creation and strategic incubation. Aside from a powerful Swap function, Bitget Wallet also offers multi-chain asset management, smart money insights, a native Launchpad, Inscriptions Center, and an Earning Center. Supporting over 100 major blockchains, 500,000+ tokens, and a wide array of DApps, Bitget Wallet is your top wallet for asset discovery and Web3 exploration.

For more information, visit: Website | Twitter | Telegram | Discord | TGBot 

 
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