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What Bybit P2P is, and what it is not

Bybit describes P2P as a marketplace where two users buy and sell their own holdings at a price they agree on. Bybit itself does not post the buy or sell offers; every ad comes from another user (an "advertiser" or maker), and you act as the taker when you click on one. According to Bybit's introduction page, the marketplace covers more than 600 payment methods and more than 370 currencies, so the same flow works whether you pay by bank transfer in euros, an e-wallet in rupiah or a local instant-payment rail.

There are three ways in:

If you are comparing venues before you open an account, the Bybit exchange profile shows spot and futures fees and how sign-up works, and our Binance P2P guide walks through the same process on Binance.

Before your first order: the entry requirements

Bybit's requirements table for a regular taker has two lines: complete at least Standard Individual Verification, and link both a phone number and an email address to the account. Its FAQ repeats that identity verification (or Business KYC) is mandatory for any P2P trade. Two practical rules follow from the buy guide:

• Your bank account name must match your verified Bybit name. Bybit warns that a mismatch can get the account suspended and that the seller has the right to refuse to release coins to you.
• P2P runs through the Funding account. Purchased coins land there, and if you pay with a fiat balance, that balance must also be in Funding.

Some advertisers add their own conditions. When you do not meet them, the button on that ad reads "Ineligible" instead of Buy. Ads marked "Verification Required" may ask for a liveness check, a photo ID, proof of payment, a bank statement or a short questionnaire whose answers are shared with the advertiser. You may cancel such an order instead of handing over the information, and Bybit says that kind of cancellation does not count against your completion rate.

How to buy USDT on Bybit P2P, step by step

The steps below follow Bybit's official "How to Buy Crypto with P2P Trading" guide for the website; the app uses the same order but starts from More → P2P.

1. Open the P2P page. Click Buy Crypto → P2P Trading in the top-left navigation. 2. Filter the ads. Set the coin (USDT, USDC, BTC or ETH), the amount, your fiat currency and your payment method. Check three columns: Price, Available/Limits (the minimum and maximum per order in fiat) and Payment Method. 3. Read the advertiser line. It shows the number of orders in the last 30 days and the 30-day completion rate, which Bybit calculates as completed orders divided by total orders. 4. Click Buy USDT and enter the amount. You can type the fiat you will pay or the coins you want. If you use a passkey, Bybit asks for a security code plus fingerprint or face confirmation. 5. Pay the seller. A countdown starts. Send exactly the amount shown, to exactly the account shown, from an account in your own name. Do not write words like "BTC/USDT purchase" in the transfer reference; Bybit says such wording can make the transfer fail. 6. Tap Payment Completed. You may be asked to upload a receipt or confirm in a pop-up before the Confirm Payment button becomes active. 7. Receive the coins. Once the seller releases, the USDT shows up in your Funding account (or in Earn, if you switched on the Earn option for P2P purchases).

Bybit also runs a risk check on every transaction. If it rates an order as risky, the account gets a 24-hour withdrawal restriction, so do not plan to buy and immediately withdraw to another wallet in the same hour.

Who pays fees on Bybit P2P

Bybit's fee page splits users into makers (who post ads) and takers (who click on them). Fees depend on the fiat currency, the advertiser level and the ad type, and they are charged only when an order completes. The key line for most readers is that currencies not listed on the page are not subject to any transaction fees. The listed ones, as of the page's 28 July 2026 update:

Two costs can still apply outside that table: your bank or payment app may charge for the transfer, and the price in the ad already contains the advertiser's margin. The real cost of a P2P buy is therefore the ad price compared with the spot rate, plus any transfer fee, which is why it pays to compare two or three ads before clicking.

Order limits by currency

Bybit publishes minimum and maximum order sizes per fiat currency. A selection for USDT, from the page dated 10 August 2026:

Each ad can set tighter limits inside these bounds. P2P Block is the route above that: a minimum of 10,000 USDT and a maximum of 200,000 USDT per order for the buyer, with a 1,000 USDT security deposit, a linked Telegram account and a 30-day average balance of at least 10,000 USDT on Bybit.

Cancelling without hurting your account

Bybit's cancellation guide is blunt: do not cancel an order you have already paid. As a buyer you can cancel while an order is Pending Payment, but if the reason you pick sits under "Buyer Issue", it counts against your completion rate, and three such cancellations within 24 hours lock you out of P2P for 24 hours. If the problem is on the seller's side, choose a reason under "Seller Issue"; when the seller accepts it, your rate is untouched, and when they reject it, you get one appeal. You can also have only one active order with the same counterparty at a time.

If the seller does not release: appeals

If the coins have not arrived 10 minutes after you paid, open the order and use Need Help (on the order page it appears as "Order Dispute?"). Bybit's appeal guide sets out the rules:

• For "I've completed my payment but the counterparty hasn't released the coins yet", you can choose Fast Track instead of the normal track.
• Talk to the seller in the Order Chat Box first; a P2P specialist joins when you request platform intervention.
• An ongoing order can be appealed up to two times, and a closed order only within five calendar days of closing.
• Never move the conversation or the payment to a private channel; Bybit says it takes no responsibility for trades made outside its P2P platform.

How to act on this

For most people P2P is the on-ramp, not the place they keep trading: buy USDT once with your local payment method, then do later purchases on spot, where Bybit's VIP 0 fee is a flat 0.1% that you can check on the Bybit fee and sign-up page. If you do not have an account yet, sign up with Bybit code 48553 and finish Standard verification straight away, because P2P stays locked until it is done. If you also hold a Binance account, the Binance vs Bybit comparison shows which venue is cheaper for what you trade next, and current exchange offers are collected on our activities page.

Quick answers

Is Bybit P2P free? For buyers in most currencies, yes on Bybit's side: currencies not listed on the fee page carry no P2P fee, and among the listed ones the taker rows show 0% except AZN at 0.25%. Your bank may still charge for the transfer.

Do I need KYC for Bybit P2P? Yes. At least Standard Individual Verification plus a linked phone number and email.

Is P2P Express available on the website? No, only in the Bybit app.

How long before I can appeal? Ten minutes after payment if the seller has not released; closed orders can be appealed within five calendar days.

What happens if I cancel three times? Three buyer-responsibility cancellations within 24 hours restrict P2P trading for 24 hours.

Where do my coins go? To the Funding account; move them to your trading account before placing spot orders.