1. What is P2P trading?
BingX P2P is a user-centric fiat currency trading platform. It facilitates direct and handy fiat-to-crypto trades between users and merchants.
Currently, BingX P2P supports USD,PHP and TWD. Other fiat currencies will follow soon, please stay tuned!
2. Why become a P2P merchant?
(1) Have access to BingX's marketing resources and seize BingX's global growth potential
(2) One-on-one customer support exclusive to merchants
(3) Publish ads at no cost
(4) Get bountiful event rewards for merchants
3. How do I become a BingX P2P merchant?
(1) Application: click here to apply
(2) Application Requirements:
① Bind your account to your email and phone number;
② Complete the KYC identity verification;
③ Hold a minimum of 500 USDT in your fund account as a merchant security deposit.
Note: Once you’ve met all the requirements and submitted your application, our P2P team will verify your qualification within 5 working days. Please note that the result will be delivered to you through SMS/email/message center.
4. How do I post an ad on BingX P2P?
(1) Go to BingX home page --> "Buy Crypto" --> "P2P", click on "More" --> "Post an Ad"
(2) Select a fiat currency and set a price;
(3) Input the quantity that you would like to sell, enter the limit per order, and add a payment method to complete your ad setting.
(4) You have successfully posted an ad. The system will match your ad (if it is the best price) with an order placed by a buyer.
① The USDT you would like to sell needs to be transferred to your fund account before posting an ad;
② You can switch on Security Verification on the ad setting page so that the buyer can only see your payment information after completing identity verification.
③ You are advised to add remarks to remind the buyer to submit security verification materials in the chat and specify the required materials.
🌟🌟Pre-Transaction Notice to the Buyer 🌟🌟
Please don't place an order or you can cancel the order if you don't meet the transaction rules and requirements.
To avoid money laundering frauds, please provide the following materials for security verification before making a transfer:
✅ Required Materials:
The cover of your bank passbook (or other documentation with your account name and bank account number displayed)
✅ The receiving account will be provided to you after the verification is done
# During the fiat-to-crypto P2P transactions, please do NOT transfer the payment straight away. Once again, please do NOT transfer the payment straight away
# Please note that your payment account should be consistent with the account you provide for your KYC identify verification
# If you don't have a bank passbook, you can submit the screenshot of your online banking that clearly shows your account name and bank account number
# Please attach a screen recording if you submit the screenshot of your online banking
# The transaction will expire after 30 minutes. Please complete it before it gets invalid, or you can cancel the transaction.
5. How do I complete the transaction with the buyer?
(1) Proceed with further security verification in the chat (for the sake of risk control)
You are advised to solicit the following KYC verification materials from the buyer:
① ID card;
② The cover of your bank passbook (or other documentation with your account name and bank account number displayed)
(2) After completing the security verification, you can send your receiving account to the buyer and remind the buyer to provide proof of his/her bank transfer
(3) Confirm the receipt of the payment, remind the buyer to click on "Transferred, notify seller", and release the crypto to the buyer. The transaction is thus completed
A buyer places an order to buy crypto - facilitate security verification in the chat - the seller/merchant provides payment information - the buyer makes a transfer and provides a screenshot as proof - the merchant confirms receipt of the payment and reminds the buyer to click on "Transferred, notify seller" - the merchant releases the crypto to the buyer and thus completes the transaction
Required materials normally include:
- ID card ( photos of you with your ID card are required in some cases)
- Bank account information
- A disclaimer video (required for certain merchants)