The Bitfinex P2P Market Place can be accessed directly from the main trading page of Bitfinex. Alternatively, you can visit the marketplace directly by going to https://p2p.bitfinex.com.
Note: To access the Bitfinex Peer-To-Peer Market Place, your account needs to be at least Basic Plus verified.
How to Buy on the P2P Market Place
1. Log in to your Bitfinex account and access the Bitfinex P2P Market Place.
2. You will see the option Buy on the top navigation panel.
3. Select the token you want to purchase from the base currency filter on the left side of the screen.
Note: Current available options include BTC, ETH, USDt, XAUt.
4. You now only see Ads created by Makers which are looking to sell that specific token. Each Ad is presented in a different row, and includes:
- The non-negotiable price at which the Maker is selling tokens;
- The amount of tokens the Maker has to sell, and also the limits (*) of each unique order;
- The payment methods in which the Maker will engage.
* Limits are defined in quote currency and indicate the minimum and/or maximum volumes each order can have.
For example: A Maker can have 1 BTC to sell, but prefers to not trade any amount over 1000 USD at any given time. If the price set in the Ad is 30000 USD, this means the Maker will need at least 30 trades to sell 1 BTC.
5. If you see an advertisement that meets your needs, you can select Buy on that Ad to continue.
6. You will then be directed to enter the amount you will be transacting and select from the payment options made available for this transaction.
Note: When selecting a payment option, you’ll see both the conditions set out by the Seller in order to achieve a successful trade as well as the time limit the Seller has established to proceed with payment. This time will also be reflected in your P2P profile as a part of the Average Payment Time information - see Public P2P Profile Pages.
7. Once all information has been filled in, select Buy to proceed.
8. The Seller will be notified via a platform pop-up message and will also receive an email notification to accept or decline the transaction.
9. You can then monitor the progress of your transaction in the Orders section under Processing.
10. The Seller will have 5 minutes to accept or reject your offer to trade. If the timer reaches 0, the offer will automatically be considered rejected. During this time you can also change your mind and cancel the offer, by clicking the cancel button on the footer. Either rejecting or canceling the offer at this stage yields no reputation penalties to any of the parties.
11. If the Seller accepts your offer to trade, the chat will become active and the Seller’s payment method information required to pursue the transaction will become available. You’ll see a timer counting down. The time therein is the time-window defined by the Seller for you to proceed with payment, as shown initially. If you fail to provide payment during this time, the order will be automatically cancelled and the transaction will count as a failed trade in your P2P profile.
12. We recommend you read the instructions set out by the Seller carefully and engage in the chat if you have any doubts.
13. When you have completed payment please click on the button “Payment Sent” to inform the Seller the funds can be released.
14. If the funds have been received by the Seller according to the conditions set out and displayed in the Order, the Seller releases the funds.
15. That’s it. The tokens will become available in your exchange wallet and you’ll be able to rate both the transaction as well as your experience using Bitfinex P2P.
How to Sell on the P2P Market Place
1. Log in to your Bitfinex account and access the Bitfinex Peer-To-Peer (P2P) trading platform.
2. You will see the option Sell on the top navigation panel.
3. Select the token you want to sell from the base currency filter on the left side of the screen.
Note: Current available options include BTC, ETH, USDt, XAUt.
4. You now only see Ads created by Makers which are looking to buy that specific token. Each Ad is presented in a different row, and includes:
- The non-negotiable price at which the Maker is buying tokens;
- The amount of tokens the Maker wants to buy, and also the limits (*) of each unique order;
- The payment methods in which the Maker will engage.
* Limits are defined in quote currency and indicate the minimum and/or maximum volumes each order can have.
For example: A Maker can have 1 BTC to buy, but prefer not to trade any amount over D 1000 USD at any given time. If the price set in the Ad is 30000 USD, this means the Maker will need at least 30 trades to buy 1 BTC.
5. If you see an advertisement that meets your needs, you can select Sell on that Ad to continue.
6. You will then be directed to enter the amount you will be transacting and select from the payment options made available for this transaction.
Note: When selecting a payment option, you’ll see both the conditions set out by the Buyer in order to achieve a successful trade as well as the time limit the Buyer has established to proceed with payment.
7. Once all information has been filled in, select Sell to proceed.
8. The Buyer will be notified via a platform pop-up message and will also receive an email notification to accept or decline the transaction.
9. You can then monitor the progress of your transaction in the Orders section under Processing.
10. The Buyer will have 5 minutes to accept or reject your offer to trade. If the timer reaches 0, the offer will automatically be considered rejected. During this time you can also change your mind and cancel the offer, by clicking the cancel button on the footer. Either rejecting or canceling the offer at this stage yields no reputation penalties to any of the parties.
11. If the Buyer accepts your offer to trade, the chat will become active. You’ll see a timer counting down. The time therein is the time-window defined by the Buyer to proceed with payment, as shown initially. If the Buyer fails to provide payment during this time, the order will be automatically canceled and the transaction will count as a failed trade in the Buyer’s P2P profile.
12. Head to the Instant Message chat and share with the Buyer the payment method details required in order to adequately transfer the funds
13. We recommend you read the instructions set out by the Buyer carefully and engage in the chat if you have any doubts.
14. When the buyer completes Payment, you’ll see a button saying “Confirm the Payment was received”.
IMPORTANT: Before proceeding please confirm that the funds have adequately arrived in your wallet or account, according to the conditions set out by the Maker. Do not release the tokens if the fiat funds are not in your possession.
15. If you have received the fiat funds and released the tokens, the tokens will become available in the Buyer’s exchange wallet and you’ll be able to rate both the transaction as well as your experience using Bitfinex P2P.
How to perform an instant swap on the P2P Market Place
1. Log in to your Bitfinex account and access the Bitfinex Peer-To-Peer (P2P) trading platform.
2. Select the token you want to sell from the base currency filter on the left side of the screen.
Note: Current available options include BTC, ETH, USDt, XAUt.
3. Select which token you want to swap against from the quote currency filter or just search through all Advertisements using “Any”.
IMPORTANT: all token-for-token Orders (“swaps”) are tagged with the payment method “Instant Settlement”
4. Find an Ad that suits your criteria and click Buy / Sell
5. Review the price carefully and if you’re in agreement, set the amount you want to trade and click Buy / Sell from the footer
6. The Maker will have 5 minutes to accept or reject your offer to trade. If the timer reaches 0, the offer will automatically be considered rejected. During this time you can also change your mind and cancel the offer, by clicking the cancel button on the footer. Either rejecting or canceling the offer at this stage yields no reputation penalties to any of the parties.
7. If the Maker chooses to accept your Offer, that’s it! The tokens switch wallets and become available to each party. This automatically counts as a successful trade for both users, nevertheless you’ll still be able to rate your experience using Bitfinex P2P.
How to Create a New Ad on the P2P Platform
If none of the Buy or Sell available advertisements suits your needs, then you can consider creating your own advertisement.
For more information on this, please refer to our guide How to Create an Advertisement on the Bitfinex Peer-To-Peer (P2P) Platform.
If you have any inquiries, please feel free to contact Bitfinex Support. We are always happy to help!