❔How do I deposit funds on Bybit?

The P2P platform allows users to buy or sell cryptocurrency from other users directly.

The buyer must transfer fiat money to the seller, and the seller transfers cryptocurrency to the buyer after confirming the receipt of payment.

In order to trade on Bybit P2P, you need to have a verified account, connect SMS and Google authentication.

Bybit P2P currently supports 9 fiat trading pairs: NR/USDT, VND/USDT, AUD/USDT, HKD/USDT, MYR/USDT, PHP/USDT, RUB/USDT, TWD/USDT and UAH/USDT.

  1. Open the Bybit app, go to search at the very top of the app and type in ''P2P''.

  1. In the top right corner, click on the currency you want to purchase cryptocurrency with.

  1. You will be taken to a page with advertisements. Each advertisement contains information about the price, available trading volume in cryptocurrency, minimum and maximum amount per transaction and trader's statistics.

  1. Once you select a merchant, be sure to read their terms of the deal. If the seller's terms do not suit you, find another ad. If the merchant's terms do not conflict with the platform's terms of trade, the buyer is considered to accept the merchant's terms by default when opening the transaction.

  1. Once you select a merchant, you need to specify how much cryptocurrency you want to buy. You can specify a specific amount in cryptocurrency (the "With Crypto" section), or specify the amount you want to pay in fiat currency (the "With Fiat" section). After press on "Buy".

  1. After that the page with the purchase data will appear. Please pay attention to the time window for payment (the time within which you must complete the payment or the order will be canceled automatically by the system).

    You can also use the built-in chat, through which you can contact the seller and, if necessary, clarify the details of the transaction.

    After familiarizing yourself with all the necessary information, click on "Pay Now".

  1. This page displays the merchant's payment information. You need to transfer funds to the account specified by the merchant. Make sure that the name to which the bank account is registered exactly matches the user name in your Bybit account.

  1. To confirm the payment, agree that Bybit does not process the payment automatically and that you confirm that you will make the payment from an account with your passport name.

    Next, click on "Confirm" and wait for the cryptocurrency transfer from the merchant.

WARNING:

When buying cryptocurrency, you need to take precautions to avoid fraud and loss of funds:

  1. Beware of third-party exchangers: Use only trusted and reliable cryptocurrency exchange platforms. Third-party exchangers with questionable reputations may turn out to be scammers.

  2. Check verification: Prefer users who have been fully verified on the platform. This adds an extra layer of security to the transaction.

  3. Check the reputation of sellers: Pay attention to user ratings and reviews. Choose sellers with high ratings and lots of positive reviews.

  4. Number of completed transactions: Give preference to users with a large number of completed transactions. This is an indicator of reliability and trust in the seller.

  5. Be vigilant: If the terms of the deal seem too favorable, it may be a fraud attempt. Compare offers and be wary of suspiciously low prices.

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