Since the cryptocurrency ban in many countries, many users are only able to buy and sell crypto through p2p. Nevertheless, as different governments continue to clamp down on more crypto exchanges, these exchanges continue to withdraw their services from countries with such restrictions. thereby lowering the number of exchanges in operation in most countries. This streamlining has its negative side effect. As more people try to use the limited stream available, more scams erupt. This brings us to bybit p2p. Bybit p2p is undoubtedly the most popular p2p in most countries, including Nigeria. Let’s quickly look at how to use Bybit p2p without being scammed.
What is Bybit P2P
Bybit is a crypto exchange where one can buy, sell, swap, trade, and perform a variety of transactions with crypto assets. So, on Bybit p2p, one can buy crypto directly with their bank card in countries where it’s offered. Additionally, one can trade crypto through the p2p option.
Bybit P2p is a trading section of Bybit where users can sell or buy crypto assets with fiat currency directly from a fellow trader. In this case, Bybit acts as the facilitator (escrow). Bybit allows users to buy and sell from fellow traders at zero fees. Nonetheless, many traders are not genuine. They sabotage trades by either not paying after being sent money or confirming they’ve paid without sending money to the other traders. The good news now is that we can filter out the bad ones using the metrics already provided from their trading activities. One can subsequently carry on trades without encountering any further scams.
However, the majority of the scams most users encounter come during the sales (sell) ordering process. To sell, a user has to submit their USDT to the Bybit escrow. Hence, confirming after receiving the equivalent payment in their local currency according to the exchange rate. Nonetheless, the equivalent, exact amount to receive in the local currency is all displayed on the dashboard alongside the full details of the ads.
How to use BYBIT p2p without being scammed( sell usdt)
- Go to Bybit and click on asset.
- Click on deposit, further, click on p2p trading
- Ensure the crypto being sold is USDT. Else, just tap on the drop-down and choose USDT.
- Next, CLICK on sell: We want to sell USDT. So the page should be sitting on sell.
- Choose the amount range: Many traders have minimum and maximum orders they accept per trade. So, you want to make sure you have ads within your quantity range displayed. In that case, one can choose NGN140,000 when selling a $100.
- Choose payment method: It’s recommended to choose bank transfer, however, there are a variety of payment methods on there. These include bank transfer to other individual local banks, payment method to another digital payment wallet (e.g, PayPal, Skrill, etc). Here, choose bank transfer. When adding an account, ensure you use a bank transfer too for a payment method.
- Next, click on filter and tick the box that says, ‘disable ineligible ads.’ Confirm.
Now, we are done with those settings. Here are the important parts. Let’s go to the individual settings. - Never trade with traders with less than 1500 completed orders. Maybe 1200+, but my recommendation is to choose orders from 1500 and above.
As anything below could be an institution, a bad actor, or likely a swindler. So, the more completed orders, the better. - Ensure the trader is Online. Online is signified by a green dot. Offline is signified by a grey dot.
- Trade with traders with a rating above 98 %+ (98%,99%, and 100%).
Never go below, as anything merchant below has had a horrible experience review before. These are the basic settings on how to use bybit p2p without being scammed. Going further.
ORDERING
- When you click an ad and have entered the order, ensure to click on the contact box and read the instructions of the buyer.
In most cases scenerios is, they are requesting your number. Supply it and your order will be fulfilled in less than no time. - Once you finally receive your money. Double check, tripple check, or even sent part of the money to another bank. Check description incase trader decides to blackmail you will fraudulent desciription. then confirm
- Ensure the give the trader good rating, like 5 star, just sold another retail trader could find them useful too.
- All done.
Congratulations, you’ve successfully sold your USDT without any complaints.
Video on How to use bybit p2p
CONCLUSION
I see another person begging Binance to come back with their p2p platform without realizing it’s the same. The only difference is that, Bybit customer care system was horrible at settling disputes. Nevertheless, from my experience, I can say they’ve improved greatly. I have used Binance and saved users from binance p2p scams, and I have done the same with Bybit. Either of the platforms works the same way, as an escrow.
Notably, there is no crypto p2p without potential scammers. One still needs to implement these same criteria to be able to see a good outcome. Stay safe.
Share this article with friends, you might just save them from huge losses.
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