What's P2P trading?

Published on Sep 5, 2023Updated on Jun 5, 20245 min read304

What's P2P Trading?

  • P2P Trading is a peer-to-peer marketplace, which allows users to buy and sell digital assets, such as Bitcoin, Tether and other cryptocurrencies, directly between users.

  • OKX P2P marketplace will help facilitate the transaction of digital assets. To complete the trade, directly send or collect cash with your preferred payment method app.

  • Start trading now at OKX P2P Markets.

Why should you choose P2P trading?

  • Zero fee when you trade

  • Choose the trading price you prefer

  • More payment methods available

  • 24/7 Customer care support

  • Get started from 1 USDT to trade

Who's eligible to trade on the OKX P2P marketplace?

  • Anyone with a registered OKX account, verified their email or phone number, and has completed verification.

  • In general, with complete identity verification, you can become a merchant to buy and sell crypto in the marketplace.

Am I trading with OKX directly?

  • No. You're trading with other verified OKX users on the P2P marketplace. To safeguard your assets, OKX will hold the crypto until payment confirmation is received by the seller.

Is there a service fee for trading P2P on OKX platform?

  • No service fee for trading P2P.

  • When buying cryptocurrencies from another user on the OKX P2P marketplace, you're buying at a rate set by the users themselves.

  • However, depending on your payment method, there might be a transaction fee to complete your payment.

How does the OKX P2P platform ensure secure trading between buyers and sellers?

  • Once an order is placed, the crypto from the seller's account will be held by OKX until a payment confirmation is received by the seller.

  • If a buyer has made the payment, but the seller refuses to release the crypto, the buyer can submit a dispute to OKX customer service for assistance.

What's an advertisement (ad)?

  • An ad is a post created by OKX users in the P2P marketplace to buy and sell crypto at their own rates.

  • Ads with a badge next to the username are ads posted by OKX Verified Merchants.

Who can become a Verified Merchant?

  • Any OKX user who has completed their verification can apply to become a Verified Merchant. Check out the Merchant Program for more information.

Can I post an ad if I'm not a Verified Merchant?

What's the difference between a fixed price ad and a floating price ad?

  • The ad price will be the unit price that your buyers and sellers will get when they place an order on your ads.

  • The ad price will determine the ranking of the ad in the P2P marketplace.

1. Fixed price ads

Web P2P create fixed price ads

Create ad with fixed price

  • When fixed price is selected, the unit price you enter will be your ad price per unit. Your ad price will remain fixed and not be influenced by market fluctuations.

2. Floating price ads

Web P2P create floating price ad

Create ad with floating price

  • The floating price model enables you to add a margin to the market price that you define. You can set your market price as the current market price allowing it to fluctuate as the market goes up and down or define your own unit price.

  • The margin is the additional percentage you want to impose on the market price.

  • Your ad price will be the market price * margin. Hence, your ad price may fluctuate with the market price.

What should I do if my order is expired?

  • If you've not made the payment, you can make a new order with the merchant or ad.

  • If you've made the payment but the order is canceled after the order expires, you can do the following: - Reach out to the seller via IM chat to provide proof of payment and arrange for a refund; or - Check if the seller is still advertising Sell ad with the same amount, then raise a new same-value order to the seller. Do provide the seller with your payment proof of the previous order and explain the situation to them and ask for a refund; or - Raise a dispute.

What should I do if my order fails?

  • If your order fails during order creation, you can create a new order and publish it to our P2P marketplace.

  • If you've made the payment, you can raise a dispute.

What happens if my buyer/seller used offensive language in the comment section?

You can raise a dispute if this scenario occurs. Read about more rules here.