How to trade on P2P exchange | Bitmama

Peer-to-peer (P2P) trading is a type of cryptocurrency exchange method that allows you to trade directly with others without the need for a third party to facilitate the transactions.

Crypyo P2P exchange

In crypto P2P exchange, you can select your preferred offer and trade directly with a counterparty rather than using an automated engine to execute your transactions. This means you have more freedom to pick the best rate and payment method for your needs—and with lower costs. You can also better safeguard your privacy because you’re dealing directly with a counterparty.

These factors make crypto P2P exchanges appealing to users looking for a more simple and straightforward way to trade cryptocurrencies. Read our post on 5 reasons you should own a crypto debit card.

How does P2P crypto trading work?

Crypto P2P exchange platforms work by matching crypto buyers and sellers together to facilitate a trade. They can either browse crypto advertisements or create their own. 

It’s difficult to establish trust on other platforms such as social media, for example, because they are not crypto P2P exchange platforms. You can’t be certain that the buyer will follow through with the payment for the Bitcoin after receiving it. Therefore using a tested and trusted platform like Bitmama ensures your safety while you trade. You’ll also have the advantage of being able to check their reputation and ratings before engaging in any transactions. 

Bitmama is amongst the top platforms to trade your crypto, stake and earn crypto and make payments with stablecoins using crypto card as it is quite easy to navigate and it is instant.

How to list your trade on Bitmama

  1. Login to your Bitmama account 
  2. Click on P2P 
  3. Select “create listing” 
  4. Highlight what action you would like to take i.e I want to sell
  5.  Select the coin you would like to sell e.g BTC, ETH, USDT, Celo, cUSD
  6.  Choose if it’s a fixed or dynamic price
  7.  Enter your price
  8. Type in the amount of coins I would like to sell
  9. Enter the value of the coin in your local currency
  10.  Set a limit on how much you’re willing to sell
  11.  Click on next
  12. Add your payment method e.g Bitmama wallet or bank transfer
  13.  If you choose the bank transfer method, enter your account name, bank name and account number and confirm
  14. Enter the time limit for the trade
  15.  Click on next
  16.  Enter the terms for the trade
  17.  Enter any instructions you might have into the instruction box
  18.  Click on review
  19.  Select next to confirm your payment method and time limit
  20.  Then you can click on “create” to list your trade on Bitmama

How to buy on Bitmama P2P exchange

  1. Login to your Bitmama account
  2. Click on P2P
  3. Look through the listings/ads
  4. Select the ad that suits your budget
  5. Click on “buy”
  6. Enter an amount
  7.  Check the equivalent in your local currency
  8.  Choose the method you would like to pay with
  9.  Then click on submit
  10.  You will be prompted to click on proceed  to initiate your trade
  11.  Pay to the provided bank details
  12.  Once you do that click on confirm payment
  13.  Upload your proof of payment and confirm
  14. A notification will be sent to the seller and your wallet will be credited with the coins 

How to sell on Bitmama P2P exchange

  1. Login to your Bitmama account
  2. Click on P2P
  3. Click on sell
  4. Choose and had listed on the exchange 
  5. Enter the amount you would like to sell
  6. Enter your preferred payment method
  7. Fill in your bank account details
  8. Click on submit and proceed
  9. You will receive payment from the buyer
  10. Then you can go ahead and credit the buyer’s wallet

There you have it. You can now successfully carry out your P2P exchange on Bitmama without any fear of losing your money. Get started today by downloading the app on iOS or Android


Confidence Chukwuemeka

Aug 4, 2022

3 mins read

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