Right now, P2P trading is the best option if you are looking to buy crypto with your local currency.
Gratefully, there are different P2P platforms that facilitate crypto trading including Bybit.
Bybit P2P is a safe platform where you can easily buy and sell crypto directly from other traders using your local fiat.
It supports over 40 fiat currencies and 300+ payment methods. Pretty cool!
Keep reading to see how to get started.
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Let’s roll…
What Is Bybit P2P?
Bybit P2P is a peer-to-peer trading platform provided by the renowned Bybit exchange.
Peer-to-peer (P2P) trading is a kind of trading where crypto buyers and sellers meet and perform transactions without the help of a third party.
So, they trade directly with each other and on their own terms.
On Bybit P2P, a seller can advertise the price he wishes to sell his crypto, and if a buyer is okay with the price, the transaction can take place at no cost.
Thus, connecting buyers to sellers 24/7. Wow!
Additionally, Bybit P2P makes use of an escrow system to ensure safe transactions.
In other words, the platform holds onto the seller’s crypto until he confirms that he has received payment from the buyer.
Once payment is confirmed, the crypto is then released to the buyer.
That way, users are assured of secured transactions.
Now, let’s see how you can buy cryptocurrencies from Bybit P2P.
Tag along!
How To Buy Cryptocurrency From Bybit
Bybit P2P enables you to trade the following coins:
- USDT
- BTC
- ETH
- USDC
How to get started:
i. First you need a Bybit account. Don’t have one? I got you. Simply click on this link to create your account.
ii. Once your account is ready, log in and select “Buy Crypto” from the top menu. Then select “P2P trading” from the options.
iii. You will find a list of buyers and sellers for the different cryptos so, select one based on what you need.
Say you need USDT;
- Select “Buy” and “USDT” from the menu
- Then select your local fiat and preferred payment method
- Check the list of available traders and click on the one offering a good price.
- Following the details provided, transfer the payment to the seller, click on “Payment Completed” and wait to receive your crypto.
- Once the seller confirms your payment, Bybit will send the crypto to you.
- You may then send the crypto to your spot wallet to perform other trades. Bravo!
Let’s answer some frequently asked questions and then we can call this post a wrap.
FAQs
Yes and No.
“Yes” if the seller does not mind and “No” if the seller included verification in his terms.
For the latter, you will the “ineligible” tag on their ad.
However, if you wish to sell crypto, you must complete level 2 verification.
So, you’ll:
i. Upload ID document
ii. Complete facial recognition and
iii. Provide your address information
To begin, go to your profile and select [Account and Security] > [Identity verification] > [Verify now]
Zero fees. 😃
I believe it is.
Bybit adopts different security measures to protect users’ funds including 2FA.
Additionally, it stores users’ funds in an HD cold wallet.
The exchange has never been hacked since it launched in 2018.
Also, it is trusted by over 10 million users.
Plus, Bybit has a good customer support system that attends to users’ queries.
Nevertheless, do your research before using this platform.
Moreover, you should trade with caution. Be wary of any trader that:
– charges extra fees,
– requests to trade off-platform,
– asks to release coins before receiving payment, and so on.
Heads Up!!!
You earn an extra $5 when you sign up on ByBit using our referral link.
Fill out this form to claim your prize!
Conclusion
This is where we’ll draw the drapes in our discussion on how to buy cryptocurrency in Nigeria. Hope you enjoyed the read.
Bybit P2P enables you to buy crypto using your local currency at no extra cost.
Now, tell me, will you buy crypto from Bybit P2P?
Perhaps you already did, what was your experience?
Let me hear your thoughts in the comments section right now.
Also, share this post with your friends, thank you!
Thanks for this article. Am new on bybit, My seller has confirmed my payment, but I can’t find where bybit send my cypto to for me to send it to my sport wallet
Hello, Blessing. Could you let us know if you’re trying to sell your crypto or buy with Naira? This will help us assist you better. Thanks!