What is the Peer-To-Peer (P2P) Market Place
The Bitfinex P2P Market Place provides a platform for Basic Plus or higher level verified users to connect with each other for direct trading purposes. Users can engage in various transactions, such as exchanging fiat currency for any of the supported tokens, utilizing a wide range of recognized payment methods external to Bitfinex. Additionally, users can also swap one digital token for another within the marketplace.
How the P2P Trading service works
In P2P trading, a user creates an Ad stating their interest to exchange one of the supported digital tokens, either for fiat or for another token. The user that creates the Ad is called the Maker.
The ad becomes publicly visible in the Ad Board, available at https://p2p.bitfinex.com.
Other users can scroll through the Ads and, if one of the ads matches their interest, decide to engage in a trade according to the conditions defined by the Maker of that Ad. These users that engage in the Ads are then called Takers.
The conditions of each trade, including pricing, are set by the Maker. These are non-negotiable, therefore the Taker must read carefully the conditions set forth by the Maker before committing to trade.
You can read more about the trading flow in our article How to use the P2P Market Place.
How P2P Ads work
In P2P Ads, the type of transaction is defined by the action the Taker is looking to perform.
If the Maker wants to sell tokens for fiat, the Ad will be labeled as a Buy Ad, where the Maker acts as the Seller and the Taker as the Buyer.
Vice-versa, if the Maker is looking to acquire tokens in exchange for fiat, then the Ad will be labeled as a Sell Ad, where the Maker now takes the role of Buyer and the Taker is the Seller.
Creating an Ad is a simple two-stage process which you can read more about in our article How to create an Advertisement (Ad) on the P2P Market Place.
How can I understand who I’m trading with
To add a layer of protection and ease of mind when selecting orders and interacting with different Buyers and Sellers which are unknown to the user, the Bitfinex P2P Market Place includes a public profile view, in which Buyers and Sellers can visualize some details and transaction statistics of a possible counterparty, such as Average Payment Time, Trading Volume, Trading Counts, etc.
You can read more in our article Public P2P Profile Pages.
Whether you're acting as a Taker or Maker, we recommend you review profiles before deciding to engage in trading.
Daily Transaction Limits
|Daily volume limit¹||10 000 USD equivalent²|
|Daily volume limit for USDt, EURt and XAUt|
|Basic Plus Users||999 USD equivalent²|
|Intermediate and Fully Verified Users||No special limit|
¹ Irrespective of the verification level at the time of the trade
² Calculated using the spot market price of the token in question at the time of the trade
These values are actively reviewed and therefore subject to modification.
If you have any inquiries, please feel free to contact Bitfinex Support. We are always happy to help!