Articles in this section

See more

FAQ | BingX P2P User

Trading Made Easy
  • Updated

Q1: What is P2P Trading? How is pricing determined?

A1: BingX P2P (peer-to-peer) Trading is a user-centric fiat currency trading platform. It facilitates direct and handy fiat-to-crypto trades between users and merchants. Merchants set prices and publish buy/sell ads, and users choose merchants to trade. BingX P2P Trading supports USD, TWD, PHP, VND, etc. Other fiat currencies will follow soon. Please stay tuned! Access Portal>>


Q2: How to buy crypto on BingX? Do I need to pay a fee?

A2: Before buying cryptos for the first time, you need to complete KYC (Know Your Customer) verification in the "Identity Verification" section. Once verified, you can quickly buy cryptos through P2P Trading.
Step 1: Go to the "P2P Trading" page, enter the fiat currency and amount you want to pay, click search and choose a suitable ad.
Step 2: Choose a payment method and contact the seller to get the transaction details.
Step 3: After completing the payment through the third-party platform, click "Confirm Payment" on the order page. After that, wait for the seller to release the cryptos to your account. 💡Please do not click "Paid" without completing the payment, as this may result in certain restrictions on your account. The transaction time depends on the receipt time and communication speed, typically ranging from 15 minutes to 2 hours. If you haven't received the corresponding fiat currency or cryptocurrency, you have the right to file an appeal. BingX does not charge any fees for P2P transactions. Learn More>>

 

Q3: Is completing the KYC verification mandatory for using BingX P2P Trading? What documents are required?

A3: All BingX users must complete the KYC verification in order to use the BingX P2P Trading service. This ensures that all accounts are registered and used by the legitimate account holder. You can check the required documents in the "User Center" by clicking your avatar icon, and clicking "Identity Verification".

 

Q4: How to sell crypto on BingX?

A4: Before selling cryptos for the first time, you need to add a payment method, which is the bank account or other third-party payment channels where you receive payments from merchants.

Step 1: Go to "P2P Trading" and select "Sell".
Step 2: On the "Sell" page, select the fiat currency and enter the amount. After that, click "Search". You can also select your desired payment method for a more refined search. Choose the ad that matches your criteria and click "Sell USDT".
Step 3: After the merchant completes the payment, please go to your receiving account or wallet to confirm if the payment has arrived. After confirming that the payment is correct, release the cryptos to the buyer to complete the order.
💡If you have not received the payment, or if the name of the payer or the payment amount does not match, please communicate with the seller. If the issue is still unresolved, you can submit a complaint. Do not release the cryptocurrency directly to the other party.
More Details>>

 

Q5: How to bind a payment method? Must the bank account name for receiving payments match my KYC name?

A5: (1) BingX App: On the P2P Trading page, click "..." in the upper right corner, and tap on "Payment Method" to add your payment method for receiving payments when selling cryptos.

(2) BingX Web: On the "P2P Trading" page, go to "P2P User Center" and click "Payment Settings". Select "Add a payment account". Alternatively, you can add your payment method in the pop-up window during the selling process.

Please note that the receiving account name must match your KYC name on BingX. Otherwise, the merchant has the right to request an order cancellation.

 

Q6: How long does it take to withdraw/sell cryptos after buying them through P2P Trading?

A6: To prevent abnormal deposits and withdrawals, money laundering, fraud, and other illegal activities, a T+1 restriction is implemented for P2P purchases. This means that users need to wait at least 1 day after buying cryptos through P2P Trading before they can withdraw or sell them.

 

Q7: I am an ordinary user, can I post ads for buying and selling cryptos?

A7: Currently, BingX P2P Trading only allows approved merchants to publish ads. You can view the merchant application requirements and merchant guide on the "Merchant Application" page.

 

Q8: What payment methods does BingX P2P Trading currently support?

A8: BingX supports 300+ payment methods. After selecting the buy/sell currency and the corresponding currency, you can choose an ad based on the payment method options provided by the merchant.

 

Q9: How to check my order history?

A9: You can go to the "P2P Trading" page and click "Orders" in the upper right corner to view your order history.

 

Q10: What if there are no matching sellers/ads when buying cryptos?

A10: You can go to the "Buy Crypto" page to search for more ads from other channels. If you still can't find the ad that suits your needs, you can provide feedback to our customer support.

 

BingX Official Channels

 

Risk Disclaimer

Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material is for reference only and should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BingX is not responsible for any losses you may incur.

BingX attaches great importance to compliance and strictly abides by local regulations. Please obey local laws and regulations in your country or region. BingX reserves the right in its sole discretion to amend, change, or cancel this announcement at any time and for any reason without prior notice.

For more information, please refer to our Terms of Use and Risk Warning.

Related articles