The Ultimate Guide to P2P Trading: How to Convert Crypto to Fiat

The OKX P2P Marketplace allows you to exchange cryptocurrency peer-to-peer (P2P) with other users using your preferred local currency. By trading directly with others, you gain access to a broader range of payment methods than traditional exchange platforms.

How the OKX P2P Marketplace Works

Imagine you want to buy crypto. Here’s the process:

• OKX locks the seller’s crypto.
• The crypto is released to your funding account once the seller confirms payment receipt.

This guide covers:

1. Adding a payment method
2. Buying crypto P2P
3. Selling crypto P2P
4. Resolving disputes
5. Cancellation rules

👉 Start trading now

Prerequisites for P2P Trading

Before using the OKX P2P Marketplace, ensure you:

• Complete KYC verification.
• Add at least one payment method.

How to Add a Payment Method

Step 1: Access P2P Trading

• Navigate to P2P Trading in the Pro Mode of the OKX app.
• Switch to Pro Mode via your profile icon if needed.

Step 2–7: Configure Payment

1. Tap More > Payment.
2. Select your currency and tap Add Account.
3. Choose a supported method (e.g., bank transfer, e-wallets).
4. Enter details and complete 2FA.
5. Tap Save.

Pro Tip: Sellers set accepted payment methods, offering more flexibility than traditional exchanges.

How to Buy Crypto P2P

Step-by-Step Process

1. Log in and tap P2P Trading.
2. Select Buy, choose currency/crypto, and filter offers.
3. Enter amount, select payment method, and tap Buy [crypto].
4. OKX holds crypto until payment confirmation. Do not pay if the timer is near expiry.
5. Message the seller if needed, then tap Continue.
6. Transfer funds using seller’s details and confirm with Payment Completed.
7. Seller confirms receipt, and crypto is released to your account.

👉 Explore P2P offers

How to Sell Crypto P2P

Step-by-Step Process

1. Log in and tap P2P Trading.
2. Select Sell, choose currency/crypto, and filter offers.
3. Enter sale amount and tap Sell [crypto].
4. Select payment method, review details, and complete 2FA.
5. Wait for buyer’s payment notification.
6. Verify payment receipt before tapping Release Crypto.
7. Confirm details and complete the trade.

Warning: Never release crypto without confirming payment.

Dispute Resolution

If a seller doesn’t release crypto after payment:

1. Allow time for delays (e.g., bank processing).
2. Communicate with the seller.
3. Raise a dispute via My Orders > Dispute.

OKX support mediates disputes and follows up with both parties.

Cancellation Rules

• Buyers can cancel trades anytime, returning crypto to the seller.
• Orders auto-cancel if payment isn’t marked complete before expiry.
• Never cancel a paid order—coordinate refunds with the seller first.

FAQ

1. What payment methods are supported?

OKX P2P supports bank transfers, e-wallets, and virtual banks. Sellers choose accepted methods.

2. Is KYC mandatory for P2P trading?

Yes, identity verification is required.

3. How long does a seller have to release crypto?

Sellers typically have 15 minutes after payment confirmation.

4. What happens if a buyer doesn’t pay?

The order auto-cancels, and crypto returns to the seller.

5. Can I cancel after marking payment complete?

No—only resolve disputes or request seller refunds.

6. How are disputes resolved?

OKX support reviews evidence and mediates a fair outcome.

👉 Begin P2P trading today

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