Everything You Should Know About KuCoin P2P Trading

2022/06/16 05:10:15

To trade crypto, you first need to Buy crypto. Under the current scenario and looming uncertainties from banks and payment methods it is challenging to find a suitable payment method, to purchase crypto with your local currency (Fiat currency). KuCoin P2P provides you with the most versatile, robust and cheapest way to purchase crypto from anywhere in the world, while accepting many Popular currencies from across the globe.

KuCoin P2P now supports the purchase of crypto such as BTC, ETH and USDT in more than 20 fiat currencies including USD, NGN, INR, MYR and RUB. This blog will walk you through the KuCoin P2P Trade and help you enter the crypto world with ease.

1. What is KuCoin P2P Trading?

P2P is short for peer-to-peer, which means a user is trading directly with another user, not the platform. It’s quite flexible as you will be able to choose who to trade with, when to make the transfer and what the price is.

P2P trading is not something new. In the early days of crypto, there was no advanced crypto platform to match the buyer and seller, so crypto holders had to find their trading counterparty through Telegram groups or Bitcoin forums. The buyer sends fiat to the crypto seller, then the seller transfers crypto to the buyer’s crypto address. Because there’s no third party involved, such trading can be risky as no one can guarantee the two parties will make the transaction as promised. For instance, if the seller does not send the crypto after receiving the fiat, there’s nothing the buyer can do.

On the KuCoin P2P Trade Platform, KuCoin safeguards the transaction by offering an escrow service, ensuring the safety and fairness of every trade. Simply put, the buyer can place an order on the KuCoin P2P platform, and the seller’s crypto will be temporarily frozen by KuCoin. The buyer must then send the fiat currencies to the seller’s bank account, and once done, the crypto held will be released to the buyer’s KuCoin Main Account. In this way, both parties can ease their fear of the default risk of their counterparties. So, everyone is happy.

2. The Advantage of KuCoin P2P Trading

Among the various P2P solutions available in the crypto industry, KuCoin P2P Trading has a number of appealing features and advantages:

Zero Fees

Traders can make the transaction easily and smoothly with zero fees.

High Liquidity & Best Price

A number of professional merchants on KuCoin P2P provide deep liquidity. Competitive USDT price in comparison with other P2P platforms.

Support for Multiple Local Payment Methods

More local payment methods are supported, like local bank transfer: IMPS and UPI, Momo in Vietnam, and Paytm in India. New payment methods are added every month.

Extremely User-Friendly Funds Protection Policy

Only Vetted and verified merchants are allowed to sell crypto on KuCoin. Each merchant on KuCoin has a safety deposit to ensure buyer protection. KuCoin Escrows and holds merchant funds for 24 hours, if the buyer doesn’t complete the order.

Professional and Reliable Merchants

To guarantee a professional merchant team, all the KuCoin merchants undergo a strict selection process. Merchants that cooperate with KuCoin are required to offer favorable prices and quick responses to our users. The Golden Merchant Program, Merchant Weekly Ranking, and regular Merchant Qualification Tests are also being held by KuCoin to improve the P2P services.

Safe Transactions

With a robust system and a growing global professional merchant team, KuCoin P2P has been able to cover users’ business needs in most markets around the world. The transaction is safe as KuCoin offers an escrow service, as explained before.

Fast Transactions

The transaction usually takes a few minutes, so you will not miss any trading opportunities in the rapidly changing crypto market.

Integration with the KuCoin Ecosystem

KuCoin allows both desktop and mobile users for fiat-to-crypto conversion and receives instant access to the entire KuCoin ecosystem.

3. How to Exchange Fiat to Crypto with KuCoin P2P Trading

For website users:

Step 1: Log into your KuCoin account. On the main page, click “Buy Crypto”, then “P2P” to enter the KuCoin P2P Trade page.

Step 2: Then click "P2P">>“Buy”. Choose the fiat currency, then choose a merchant and click “Buy”.

Step 3: Enter the total/amount you want to buy and click "Place Order".

Step 4: Complete payment via the payment method requested by the merchant. Click "Mark as paid" after you have completed the payment.

Step 5: Please kindly wait for the Seller to confirm and release the token, which will arrive in your Main Account, and the order will be completed.

For App users:

Step 1: Log into your account via KuCoin App. From the homepage, tap "Buy Crypto".

Step 2: Then click "P2P">>"Buy". Choose the fiat currency and tap “Buy” from one of the merchants.

Step 3: Fill in the token quantity or the fiat amount and tap “Buy Now”.

Step 4: Complete payment via the payment method requested by the merchant. Tap "I Have Paid" after you have completed the payment.

Step 5: Please kindly wait for the Seller to confirm and release the token, which will arrive in your Main Account, and the order will be completed.

Note:

1. The payment needs to be done manually by the buyer. The KuCoin system does not provide the fiat currency deducting service.

2. The token you purchase will arrive in your Main account. Please transfer it from the Main account to the Trading account for Spot trading.

Video Tutorial:

How to buy and sell Bitcoin/Crypto on KuCoin P2P (2022)


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