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Crypto Exchange: Bybit introduces peer-to-peer transactions

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Bybit introduces peer-to-peer transactions

Bybit, one of the world’s fastest growing cryptocurrency exchanges has taken trading to the next level by enabling peer-to-peer (P2P) transactions to help easier on- and off-ramp access.

The process started January 18, 2022; meaning that Bybit users can buy and sell Tether (USDT) with other users, easily and securely, at no platform or hidden fees on the Bybit website, with the app version to be launched soon.

The P2P platform offers more than 80 different payment methods and more than nine fiat options (Australian dollar, Hong Kong dollar, Indian rupee, Malaysian ringgit, Philippine peso, Russian ruble, New Taiwan dollar, Ukrainian hryvnia and Vietnamese dong) with more in the pipeline.

What to Expect From Bybit’s P2P

Bybit’s P2P provides the best way to buy and sell crypto while giving Bybit users more control over crypto to fiat conversions and vice versa, in a safe and secure environment.

Once a buyer completes their order, the seller’s cryptocurrency will be placed in a temporary deposit until both parties confirm that the transaction is successful.

There will also be an ad posting feature to allow whitelisted users to personalize their offers according to preferred price, payment method and local currency.

“We at Bybit are excited to introduce P2P to address niche pain points in financial inclusion. For the underbanked and retail investors everywhere, this fiat currency payment solution provides them with seamless access to invest in cryptocurrencies, freeing investors from the burdens of intransparent fees, layers of intermediaries, delays and high barriers to entry. Bybit is in the business of financial innovation and creating new gateways to financial freedom,” said Ben Zhou, Co-Founder and CEO of Bybit.

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