How do I buy crypto on OKX P2P trading?

Published on Sep 5, 2023Updated on Jun 10, 20267 min read8,958
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OKX P2P Trading enables you to buy crypto from or sell crypto to other users in the P2P, or peer-to-peer, marketplace in your local currency.

When you buy crypto P2P, OKX holds onto the crypto for security, and we release it when the merchant receives your payment. Because you buy directly from merchants, there's a wider range of payment methods available than on traditional exchange platforms. (The available options vary between merchants)

Here's how to buy cryptocurrencies with fiat on OKX P2P Trading:

Getting started

To buy or sell crypto from the ads available in OKX's P2P Trading marketplace, you need to verify your identity by completing identity verification.

You'll also need to add at least one payment method to your account if you're selling crypto via one of the ads listed in the marketplace.

Note: the platform currently doesn't support linking or using payment methods from other countries to purchase crypto.

How do I buy crypto with P2P Express?

App

1. Open OKX app and select P2P trading > Express > Buy

2. Enter the amount you want to purchase and select the crypto you wish to buy

2. Tap Select payment method > Choose the payment method > Preview order > Confirm > I understand & continue > Get payment details

3. Then, transfer the payment according to the merchant's specified method. After successful payment, select I have paid > Upload the payment proof > Tap Submit

4. Wait for the merchant to receive the funds and release the crypto.

Web

1. Open OKX website and select Buy crypto > P2P trading > Express > Buy

2. Enter the amount you want to purchase and select the crypto you wish to buy

3. Choose the payment method > Confirm > I understand & continue > Verify the seller’s account details to avoid fund loss

4. Then, transfer the payment according to the merchant's specified method. After successful payment, select I have paid > Upload the payment proof > Tap Confirm payment

5. Wait for the merchant to receive the funds and release the crypto.

How do I buy crypto with P2P Trading?

App

  1. Open OKX app and select Buy crypto > P2P trading > Buy

  2. Fill in the payment currency and the crypto you want to receive, and Filters the listed offers by Ad types and Payment methods available and Apply

    Select an offer you would like to buy

  3. Select Buy next to your preferred offer

  4. Enter the total price or crypto amount you want to buy within the order limit and select the payment method

  5. Select Buy [crypto] with 0 fees to proceed > I understand & continue
    Note: at this point, OKX will hold the crypto being bought until the merchant confirms the payment has been received, the order has been canceled by you or the order times out. You mustn’t pay if the order is at risk of timing out because because merchant will regain the crypto held earlier when the timer reaches zero if the payment hasn't been marked as complete.

  6. If you need to message the merchant for any reason, select Chat. If not, check the order details and continue to proceed the order

  7. Then, transfer the payment according to the merchant's specified method. After successful payment, select I have paid > Upload the payment proof > Tap Confirm payment

  8. Wait for the merchant to receive the funds and release the crypto.

Web

  1. Open OKX website and select Buy crypto > P2P trading > P2P > Buy

    Open P2P trading from homepage

  2. Select the payment currency and the crypto you want to receive, and payment methods you want to use

  3. Select Buy next to your preferred offer

    Select an offer you would like to buy

  4. Fill in the amount within the order limit and select the payment method

  5. Select Buy [crypto] to proceed > I understand & continue
    Note: at this point, OKX will hold the crypto being bought until the merchant confirms the payment has been received, the order has been canceled by you or the order times out. You mustn't pay if the order is at risk of timing out because merchant will regain the crypto held earlier when the timer reaches zero if the payment hasn't been marked as complete.

  6. If you need to message the merchant for any reason, select Chat. If not, check the order details and continue to proceed the order

  7. Then, transfer the payment according to the merchant's specified method. After successful payment, select I have paid > Upload the payment proof > Tap Confirm payment

  8. Wait for the merchant to receive the funds and release the crypto.

Note:

  • If the crypto's price is fluctuating significantly, you may be unable to complete the conversion. We recommend using the Convert feature to swap on your own. For more details, learn more here Convert FAQ.

  • If you encounter an issue where a merchant's order has insufficient funds when placing your order, we recommend trying one of the following two methods:

    • Select a different merchant's order to place your order. You can browse the P2P trading page and choose an ad with a suitable amount.

    • Use the Express Trade feature, manually enter your desired order amount, and the system will automatically match you with a suitable ad.

FAQ

What's a preview order?

A preview order is a confirmation screen that appears before a P2P express order is officially created. It lets you review your transaction details one more time to avoid issues caused by price fluctuations or input errors.

How does the preview order countdown work?

The preview order screen typically shows a countdown of approximately 10–30 seconds (refer to the actual page for the exact duration), during which the current quote is locked. You'll need to confirm your order details and place the order before the countdown ends. If the countdown expires, select Refresh to rematch an order.

How do I cancel an order on the P2P marketplace?

  • If you’re buying crypto with local currency on our P2P Trading marketplace, you can cancel the trade at any time. This releases the assets held by OKX back to the merchant.

    On the web: Cancel order on the order details page

    On the app: Cancel order on the order details page

  • Your order will be canceled if you don’t pay on time. You mustn’t attempt to send payment close to expiry because the crypto is returned to the merchant automatically if the time runs out before you mark the payment as completed. It’s safer to cancel the order and start again.

  • When buying on the P2P marketplace, we recommend you never cancel an order that's been paid for. Instead, you should reach out to the merchant to come to an agreement on the refund before canceling.

OKX P2P Trading is a safe and convenient way to buy or sell crypto. When you buy crypto, OKX holds onto the crypto for security until the merchant receives your payment, and then we release the crypto. In case the merchant doesn’t release the crypto, you can raise a dispute. Our customer support will handle the dispute raised and release crypto once it's been verified.