What is P2P trading? Buy crypto from other users with local money
Short answer
P2P trading means buying or selling crypto directly with another user. The platform locks the seller's crypto while you pay them by bank transfer, e-wallet or another local method. Once they confirm your payment, the platform releases the crypto to you. Binance and OKX both offer P2P.
- Place the order, chat and confirm payment only on the platform. Never agree to a deal outside it.
- Selling? Release the crypto only after you see the money in your own bank or wallet app, not because of a screenshot.
In one line
P2P means person to person: the exchange doesn’t sell you the crypto itself. It holds the seller’s crypto while you trade with another user.
An example
You want to buy 100 USDT with your local currency:
- On the P2P page, pick a seller and place an order. The platform locks the seller’s USDT.
- Pay the exact amount on the order with the payment method listed, then mark the order as paid.
- The seller confirms they’ve received the money, and the platform releases the USDT to your account.
Related
FAQ
Is P2P safe?
It's fairly safe if you stick to the rules: keep the order and the payment confirmation on the platform, pay from an account in your own name and pay the exact amount on the order. Ignore anyone who wants to take the chat off the platform or have you pay an account that isn't on the order.
I paid but the seller won't release the crypto. What now?
Don't cancel the order. Open an appeal from the order page so the platform steps in. Only deal with the platform's support, never with someone who messages you privately.
The buyer sent a payment screenshot. Can I release the crypto?
Not yet. Screenshots can be faked. Release it only when you see the money in your own bank or wallet app and the amount matches.