Question 1

What is P2P trading? How is it priced?

Accepted Answer

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 be available soon. Please stay tuned!

Question 2

Is KYC necessary to use BingX P2P? What documents are needed?

Accepted Answer

All users must complete KYC to use the P2P feature. This is to ensure that accounts are signed up for and operated by rightful individuals. Visit "Avatar" - "Identity Verification" to check for the required documents.

Question 3

How do I link a payment method? Does the name on the receiving bank account need to match my KYC?

Accepted Answer

BingX App: On the P2P Trading page, click "..." in the upper right corner, and tap on "Payment Method" to add your payment method. BingX Web: On the "P2P Trading" page, go to "P2P User Center" and click "Payment Settings". Select "Add an account". Please note that the name on the payment account must match your KYC name on BingX. Otherwise, the merchant reserves the right to request an order cancellation.

Question 4

When can I withdraw/sell the cryptos after buying them in P2P Trading?

Accepted Answer

To prevent abnormal deposits and withdrawals, money laundering, fraud, and other illegal activities, the T+1 withdrawal limit is implemented for P2P. This means that users must wait at least one day before they can withdraw or sell the crypto purchased through P2P.

Question 5

How can I ensure the security of my funds?

Accepted Answer

If you have placed and paid for a buy order, under no circumstances should you cancel the order before receiving the corresponding assets. If the merchant does not release the assets in time, please contact customer support for assistance. Additionally, ensure that payments are made to the merchant's designated payment method on the platform, and verify that the account name matches the KYC name on the platform. If you have placed a sell order, only release the assets after confirming that the payment has arrived in your receiving account and that the amount is correct.

Question 6

How to become a P2P merchant?

Accepted Answer

You can view the merchant application requirements and merchant guide on the "Merchant Application" page.

Question 7

How can I earn money through P2P trading as a merchant?

Accepted Answer

You can obtain USDT from a third party and earn the conversion rate difference by posting ads regarding USDT purchases/sales on the BingX P2P Trading platform. You can also place buy and sell ads simultaneously on the BingX P2P Trading platform to capitalize on the price difference between the two orders. It is recommended to refer to the corresponding fiat currency exchange rates and ads from other merchants on the platform to set competitive prices, thereby attracting more orders.

Question 8

How to boost exposure of my ads?

Accepted Answer

After users perform a search on the P2P Trading page, the system will sort the ads that meet the criteria based on a comprehensive algorithm. The algorithm is based on main factors including price, completion rate, and average transaction time. Setting competitive prices, improving the completion rate, and reducing the transaction time will help increase the exposure of your ads.

Question 9

How can I set my business/break hours?

Accepted Answer

Go to "My Ads" on the P2P Trading page. If you already have active ads, click the "Open" button in the upper right corner.
You can also set "Pause Business" or "Auto Break" according to your needs.

Question 10

Why are my P2P ads taken down?

Accepted Answer

If you violate BingX's P2P merchant rules, engage in malicious diversion of traffic, or receive too many complaints for your orders within a short period of time, your ads may be taken down. If you need to resolve this issue, please contact @BingXP2P on Telegram or send an email to p2p@bingx.com.

How to Buy Crypto?

Create an Account

Complete KYC

Complete an Order

Why BingX

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