This guide walks you through the complete process of selling cryptocurrencies as a seller via P2P Hot Token Swap on Bybit.
Step-by-Step Selling Process
Step 1: Access P2P Trading
- Log in to your Bybit account via the mobile app.
- From the homepage, tap "Quick Buy/Sell".
Step 2: Create a Sell Order
Follow these substeps carefully:
- Navigate to the "Sell" tab.
Choose your preferred selling method:
- By Quantity: Select the token you wish to sell.
- By Amount: Enter the fiat currency (e.g., USD) you want to receive.
- Input the amount (in fiat or crypto).
- Select a P2P payment method supported by the buyer.
- Tap "Sell [Coin]".
- Review and agree to the P2P Hot Token Swap Service Agreement.
- Confirm the order details and click "Submit".
👉 Discover seamless P2P trading strategies
Step 3: Await Buyer Payment
- The buyer must complete payment within 15 minutes.
- Use the chat function (via "Contact Buyer") for real-time communication.
Step 4: Complete the Transaction
Scenario A: Successful Payment
- Once payment is received, click "Release Tokens".
Authenticate the action via Google 2FA.
- ⚠️ Critical: Verify funds are in your account before releasing tokens.
- If 2FA isn’t set up, follow Bybit’s Google Authenticator guide.
Scenario B: Failed Transaction
Auto-Cancellation: If the buyer doesn’t pay within 15 minutes:
- Tokens return to your funding account without conversion to stablecoins.
Late Payment Claim: If the buyer falsely confirms payment after 15 minutes:
- Tokens are converted to USDT/equivalent stablecoin at the agreed rate.
👉 Resolve P2P disputes efficiently
Handling Disputes
- Submit a Complaint: If the buyer claims payment but hasn’t paid, click "Submit Appeal".
- Bybit’s support team will investigate. Do NOT cancel orders unless payment is verified.
- For unresolved issues, file a ticket via Bybit’s support form.
FAQ Section
Q1: What happens if the buyer doesn’t pay?
A: The order cancels automatically after 15 minutes, and tokens return to your account.
Q2: How are tokens converted if a payment claim is late?
A: Tokens convert to stablecoins (e.g., USDT) at the locked exchange rate.
Q3: Is Google 2FA mandatory for P2P trades?
A: Yes, it’s required to authenticate token releases.
Q4: Can I contact the buyer during the transaction?
A: Yes, use the in-app chat function for real-time updates.
Q5: Where can I learn more about P2P Hot Swap?
A: Refer to Bybit’s FAQ page.
Key Takeaways
- Verify payments before releasing tokens.
- Use Google 2FA for security.
- Communicate proactively with buyers via chat.