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How to Earn Money With P2P HotSwap on Bybit

Intermediate
All About P2P Platforms
23 ลิ.ย. 2023

If you’re looking for a convenient and secure way to buy and sell crypto with fiat currencies, Bybit's P2P HotSwap might come in handy for you. P2P HotSwap is a new addition to Bybit's peer-to-peer (P2P) trading platform that allows you to exchange your coins and fiat assets with other users at an optimal, agreed-upon price. This convenient on- and off-ramp for popular digital currencies offers you zero transaction fees, 24/7 security and support, and a wide range of payment methods and currencies. 

This comprehensive guide will explain what P2P HotSwap is, how it works and how you can benefit from it.

Key Takeaways:

  • P2P HotSwap allows users to swap coins and fiat assets directly with other users at their own negotiated terms without going through an intermediary. 

  • Users enjoy the flexibility to customize their exchange terms in a secure and transparent environment without transaction fees.

  • More advertisers are being incorporated in P2P HotSwap, and liquidity providers are now supported so users can enjoy a more competitive conversion rate.

What Is P2P HotSwap?

Peer-to-peer (P2P) HotSwap is a new feature on Bybit that allows you to swap your coins and fiat assets directly with other users without going through a third-party intermediary. This also minimizes the need for disclosure of personal information to third parties. Bybit does not provide the buy and sell offers on the P2P page; instead, it facilitates the transactions between buyers and sellers by providing a secure, transparent and easy-to-use platform.

While P2P Trading restricts users to direct transactions with advertisers, limiting their choices, Bybit P2P HotSwap introduces smart quotation functionality, enabling P2P advertisers and third-party liquidity providers to access competitive rates while securing their preferred crypto asset conversions. This feature expands users’ available options, allowing them to trade with a broader range of advertisers and third-party liquidity providers when buying and selling coins. 

P2P HotSwap supports more than 40 fiat currencies, including EUR, USD and JPY, and 30 cryptocurrencies (USDT, BTC, ETH, USDC, MATIC, SOL and more). There are a wide selection of payment methods to choose from, such as bank transfer, PayPal, Alipay, WeChat Pay and others. You can also access P2P HotSwap from anywhere in the world using your mobile phone or laptop.

Why Trade With Bybit P2P HotSwap?

There are many compelling reasons to trade with Bybit P2P HotSwap, but here are three of the most important ones:

  • Zero transaction fees: Unlike other platforms that charge fees for both buyers and sellers, Bybit P2P HotSwap offers zero transaction fees for both parties. This means you can save money and maximize your profits when trading crypto. You can also enjoy competitive P2P rates in various regions and with multiple currencies.

  • Security and reliability: Bybit P2P HotSwap has a 99.9% anti-fraud record, thanks to its AI-powered security system and rigorous risk control measures. You can trade with confidence and peace of mind on Bybit's P2P platform, which provides 24/7 security and support. If you encounter any issues with a transaction, you can submit an appeal and the customer support team will promptly assist you.

  • Convenience and flexibility: Bybit P2P HotSwap allows you to trade P2P anytime, anywhere, using your phone or laptop. You can choose from over 570 payment methods and access P2P HotSwap from anywhere in the world, with over 40 fiat currencies and 30 cryptocurrencies, including USDT, BTC, ETH, USDC, MATIC, SOL and more. 

How to Earn Money With P2P HotSwap

P2P HotSwap is not only a convenient and secure way to buy and sell crypto with fiat but also a potential source of income for savvy traders. Following are three methods you can use to earn money with P2P HotSwap.

Crypto Arbitrage Trading

This strategy exploits the price difference of the same cryptocurrency on different exchanges. You can use P2P HotSwap to buy crypto at a lower price and sell it at a higher price on another exchange, earning a profit from the difference. For example, suppose Bitcoin sells for $11,000 on Bybit HotSwap and $11,200 on another exchange. In that case, you can buy it on Bybit using P2P HotSwap, and sell it immediately on the second exchange to earn revenue.

Fiat Arbitrage Trading

This is a similar strategy that exploits price differences for the same cryptocurrency in different fiat currencies. You can use P2P HotSwap to buy crypto with one fiat currency and sell it with another, earning a profit from the exchange rate. For example, if Bitcoin sells for 28,796 AUD ($19,852) on Bybit and 30,926 AUD ($21,328) on another crypto exchange, you can buy it on Bybit using P2P HotSwap with AUD, and sell it on the second exchange using P2P HotSwap with USD for more revenue.

Posting Ads

You can earn money by posting trade advertisements on P2P HotSwap. Set your own price and payment method for buying or selling crypto, and attract other users who are interested in your offer. In this way, you can earn money from the spread between your price and the market price, as well as from the fees you charge for your service. For example, if Bitcoin sells for $11,000 on the market, you can post an ad to sell it for $11,100 using P2P HotSwap, earning a profit of $100 per transaction. You can also charge a fee of 0.5% for your service, making an extra $55 per transaction.

How to Sign Up for P2P HotSwap

Sign in to your Bybit account to get started with P2P HotSwap. It’s easy and fast, and you can start trading in minutes with the following steps:

  • Go to Bybit's website and click on Buy Crypto on the top left corner of the navigation bar. Then click on P2P Trading to enter the P2P HotSwap page.

  • Click on One-click Buy, located at the top left corner. 

  • Select the fiat currency you'll pay with.

  • Select the crypto asset you want to receive into your funding account.

  • Enter the amount you want to buy, either in fiat or cryptocurrency

  • Choose your preferred P2P payment method and click on Buy with [Fiat].

  • Review and accept the P2P HotSwap Transaction Service Agreement.

  • Click on Confirm to place your order.

  • Make the payment using the selected payment method. 

  • Click on Payment Complete once the payment has been processed successfully. This informs the seller that you’ve paid them, and they can now release the purchased coins to your funding account.

  • Click on Check Asset to confirm the seller has released the purchased coin. You can also check your order status from the P2P Order History.

If the seller fails to release the purchased coins after 10 minutes, click on Submit Appeal to get your funds back. A customer support staff member will reach out to you to resolve the issue. Make sure you do not cancel the trade until you’ve received a full refund.

The Bottom Line

Bybit P2P HotSwap is a peer-to-peer trading platform that offers a convenient and secure way to buy and sell crypto with fiat currencies. You can enjoy zero transaction fees, 24/7 security and support, and a wide range of payment methods and currencies. You can also earn money with P2P HotSwap using various methods, such as crypto arbitrage trading, fiat arbitrage trading and posting ads. P2P HotSwap is easy to sign up for and use, and you can access it from anywhere in the world using your mobile phone or laptop. If you’re looking for a fast and flexible way to trade crypto with fiat, Bybit P2P HotSwap is the platform for you.

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