To help you better understand how Toobit P2P works, we've compiled answers to the most common questions below.
1. What is Toobit P2P?
Toobit P2P (Peer-to-Peer) is a secure and reliable trading platform that enables users to directly buy and sell cryptocurrencies using local currencies and preferred payment methods (such as bank transfers, e-wallets, or local payment methods). The platform facilitates trades by matching buyers and sellers, with prices set by the market.
2. How do I buy or sell crypto on Toobit P2P?
You can complete a trade in just a few steps. For detailed instructions, please refer to How do I buy/sell crypto via P2P trading.
3. Do I need to complete identity verification (KYC) to conduct P2P transactions
Yes. All users must complete advanced identity verification before using Toobit P2P. You can check your status under [Profile] → [Identity verification].
4. Are there any fees for P2P trading?
Toobit does not charge any trading fees for P2P transactions. However, there may be bank or payment channel fees related to the transfer.
5. How are my funds protected?
Toobit uses an escrow mechanism to secure transactions. The seller's crypto is locked once the order is created and will only be released after the seller confirms receipt of the buyer's payment. Always confirm that payment has been received before releasing crypto. Note that some payment methods may have delays.
6. Are there order limits on P2P?
There is no platform-wide limit. Each advertiser sets their own trading limits, which are displayed before you place an order.
7. Can I cancel an order?
You can cancel the order before the counterparty makes a payment.
If you have already paid but haven't received crypto, do not cancel the order. Instead, resolve the issue through "Dispute".
8. Does Toobit P2P support partial payments or installments?
No. All payments must be completed in a single transaction to ensure escrow protection and transaction security.
9. What payment methods are supported?
Supported payment methods vary by region and may include bank transfers, e-wallets, and local payment options. Please refer to the P2P page for available methods.
10. Are there any restrictions after completing a P2P transaction?
Yes. Assets purchased via P2P are subject to a T+1 holding period, meaning that they cannot be withdrawn or transferred for 24 hours after the transaction is completed. Please plan your funds accordingly.
11. What should I do if the buyer hasn't paid?
Do not release the crypto. You can remind the buyer within the order. If the payment is not received within the limited time, you can file a dispute and Customer Support will assist.
12. What should I do if I have made the payment, but the seller doesn’t release the crypto?
Keep your payment proof and initiate a dispute. Toobit Customer Support will verify and assist in completing the transaction.
13. How are disputes handled?
In case of a dispute, click the [Dispute] on the order page and submit relevant evidence (such as payment screenshots). Toobit Customer Support will intervene to arbitrate and ensure a fair and secure transaction.
Important notes
Toobit P2P is a third-party facilitated marketplace, where the platform acts as a transaction intermediary and escrow provider. All users must complete KYC verification and bind payment methods before using the service. Always confirm receipt of funds before releasing crypto. If you encounter any issues, please contact Customer Support. Following these guidelines helps ensure a smooth and secure trading experience.
