OKX P2P Trading | Full Guide

OKX P2P trading: basic facts

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OKX P2P is a platform for direct exchange of cryptocurrencies between users without intermediaries. The OKX interface is intuitive, which simplifies the process of creating and setting up trades. Users can quickly select the currency and cryptocurrency to exchange, filter offers by payment method and amounts, and complete the transaction in a few steps. This makes the trading process convenient even for cryptocurrency beginners.

Security on OKX P2P

The platform holds assets in escrow until the buyer and seller confirm the fulfillment of the terms of the transaction. In this way, OKX ensures that the funds will be transferred only after payment is confirmed, providing both parties with additional protection. This prevents fraud on the part of one of the parties. If there are problems with receiving funds or cryptocurrencies, the buyer can file a request for arbitration to resolve the conflict.

No hidden fees

Another advantage of P2P trading on OKX is the complete absence of fees for conducting transactions. This makes the platform more attractive to users who are looking for ways to save on transactions. However, it is important to note that while OKX does not charge any fees for conducting trades on the P2P platform, users may incur fees associated with their chosen payment methods.

In particular, if a bank transfer or services such as Wise, Payoneer, Payeer or Perfect Money are used to complete a trade, these services may charge certain transaction fees. The amount of fees depends on the policy of each payment system. In some cases, a flat fee may be charged, while in others, a percentage of the transferred amount may be charged.

Flexible payment methods on OKX P2P

OKX offers over 900 payment methods, making its platform one of the most flexible and user-friendly for users worldwide. These methods can be divided into several classes depending on the type of transaction and geographic availability. Let's look at the main categories and specific examples for each of them:

1. Bank Transfers

Bank transfers are one of the most popular and reliable payment methods, especially for large transactions. These are often used in countries with well-developed financial systems, where they are offered as a domestic option for fast transactions. Some reputed networks include:

• SWIFT is an international network for global transfers.

• SEPA is a bank transfer system for Eurozone countries.

• ABA Bank is a popular option for users in Asia.

Fees may vary depending on the bank and region, but bank transfers are usually used for large amounts, as the fee is relatively small compared to the size of the transaction, and the transfer speed can reach several days.

2. E-wallets

E-wallets provide users with convenience and speed, especially for small amounts. These systems often have lower fees than bank transfers and provide fast transactions. Examples of popular e-wallets:

• PayPal is one of the most common international wallets.

• Payeer is a popular system for exchanging cryptocurrencies in Eastern Europe.

• Perfect Money is often used for international transactions, especially in the CIS countries.

3. International payment systems

Offer the convenience of transferring funds between different countries and currencies with relatively low fees. These systems are especially popular among users who make international payments in small and medium amounts:

• Wise offers low fees for international transfers, allowing users to save on currency exchange.

• Payoneer is used by freelancers and companies for international transactions and income.

4. Mobile payment systems

Mobile payment systems and fintech applications are becoming increasingly popular, especially in countries with developing infrastructure for digital payments. These methods are especially convenient for users in Africa and Asia:

• M-Pesa is widely used in Kenya and other African countries.

• TrueMoney is a popular choice in Southeast Asia, especially in Cambodia.

5. Cryptocurrency transfers

Since P2P trading on OKX is related to cryptocurrencies, users can also choose cryptocurrency networks for internal transfers. This usually involves transactions between wallets on the platform without fees (internal transfers). However, transactions outside the platform may incur a network fee (Gas fee), depending on the cryptocurrency and blockchain chosen

Cryptocurrency to fiat exchange

OKX supports a wide range of cryptocurrencies for fiat exchange. Available cryptocurrencies include USDT, BTC, ETH, and many more. Fiat currencies include popular options such as USD, EUR, and over 100 other currencies, providing convenience for users from different regions of the world. This makes P2P trading on OKX an ideal tool for those looking for ways to convert cryptocurrencies into traditional money.

Comparison table for key fiat currencies and payment methods on OKX P2P

How to buy and sell on OKX P2P. Step-by-step guide

Steps to buy cryptocurrency

1. Authorization and access to P2P. In your OKX account and on the main page, select "P2P Trading" in the "Buy Crypto" section.

OKX P2P trading

2. Select currency and cryptocurrency. On the P2P screen, make sure that the "Buy" section is selected. Next, select the fiat currency for exchange and the cryptocurrency you want to buy. You can use filters to select suitable offers by amount and payment methods.

3. Placing an order. Find the offer you are interested in and click "Buy". Specify the amount of the cryptocurrency you want to buy and select a payment method.

OKX P2P marketplace

4. Confirmation of payment. OKX will then block the cryptocurrency with the seller until payment confirmation is received. Make a payment using the selected method and click "Payment Completed".

5. Completing the transaction. After the seller confirms the payment, the cryptocurrency will automatically be transferred to your OKX account.

Steps to sell cryptocurrency

1. Login and select P2P. In your OKX account, select “P2P Trading” under “Buy Crypto”. Make sure “Sell” is selected.

OKX P2P trading

2. Set up the sale parameters. Select the cryptocurrency to sell, the fiat currency to receive, and the payment method you will use to accept the money. Use the filters to select the appropriate ads.

OKX P2P marketplace

3. Complete the sale. Click “Sell” next to the desired offer. Specify the amount of cryptocurrency you want to sell and confirm the parameters.

4. Confirm receipt of funds. Once the buyer has completed the payment, make sure the money has arrived in your account. Do not rely on screenshots - check your funds directly.

5. Complete the deal. Once you have confirmed receipt of funds, you can unlock the cryptocurrency and complete the deal.

Security tips for trading on OKX P2P

• Trading with verified users. Safe trading on the OKX P2P platform starts with choosing verified users. We recommend working with accounts that have been verified on the platform, as well as paying attention to the reviews and ratings of sellers and buyers.

• Avoid communication outside the platform, for example, through messengers such as Telegram or WhatsApp, to avoid becoming a victim of fraudsters. All transactions and correspondence should take place exclusively within the OKX system to ensure security and the possibility of subsequent dispute resolution.

• OKX support and dispute resolution. If a problem arises during a transaction, for example, the seller does not confirm receipt of payment, you can use the dispute resolution system on OKX. In the event of a conflict, it is recommended to first try to contact the other party through the built-in chat on the platform.

• Remember that OKX holds the cryptocurrency in escrow until the seller confirms receipt of payment, which minimizes the risk of unauthorized release of assets. If you have any difficulties or suspect fraud, you should always contact the platform's support, who will help resolve disputes.

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