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How to sell crypto
In this guide, we're taking USDT as an example; but the steps described below are applicable for any other crypto tradable on Bybit.
Crypto (USDT included) is traded on exchanges, and in this chapter we'll be taking a closer look at how to do so on Bybit. In order to convert say USDT into real money, you need first to transfer them to your Bybit deposit address and then sell them via P2P trading platform.
- 1.Log into your Bybit account on the mobile app. If you don't have an account on Bybit yet, feel free to refer to this chapter for a detailed guide on how to register on Bybit.
- 2.Now let's find the correct wallet address to deposit the tokens to ahead of trading them. In our case, your Bybit USDT wallet address (SOL network) to which you'll deposit your USDT. It may be a bit daunting for a first-time experience, please pay attention and you'll make it. Open the Bybit app and at the bottom of the main screen, tap Assets (screen 1) → Deposit (screen 2) → Select USDT (screen 3) → Tether USDT → Select SOL Network (screen 4-5) → Copy the address under the QR code (screen 6). See the picture below for illustration:
Assets (screen 1) → Deposit (screen 2) → Select USDT (screen 3) → Tether USDT → Select SOL Network (screen 4-5) → Copy the address under the QR code
- 3.Now you can proceed to withdrawing your crypto to Bybit to be traded for real money. With the address copied to clipboard (from the previous step), go back to the Walken app --> swipe to find USDT wallet --> tap the Withdraw button on it --> paste your Bybit deposit address --> enter the amount of tokens --> after double-checking the info, press Send. The deposit will be performed directly via your Bybit spot account.
Please make sure the address you send tokens to is correct. There will be no way to recover funds sent to the wrong address.IMPORTANT: in order to withdraw tokens from the app, you'll need to pay blockchain gas fee in SOL. It is recommended to have at least 0,003 SOL on your wallet to power up any blockchain transaction. Refer to this guide if you need to buy SOL and send them to your Walken wallet.
- 4.Your USDT is now deposited on your Bybit account. To check them, tap Assets → Spot.
Assets → Spot: there are your tokens stored
Great, you have now successfully sent your USDT to your Bybit account, next stop - selling them via P2P platform for real money. Let's go.
- 1.First you need to transfer crypto from spot account to funding account: Open Assests → Spot → tap USDT → Transfer (at the bottom of the screen) → enter the amount → tap confirm to transfer the tokens. As a result, the amount will arrive at your funding account.
Open Assests → Spot → tap USDT → Transfer --> enter the amount → tap confirm to transfer the tokens
- 2.Moving on to the actual trading. Go back to the Home screen --> tap Buy crypto -->select P2P trading -->tap Sell at the top of the screen. At this point you get to choose the currency you'd like to trade USDT for and then select the payment method (PayPal, credit card, ApplePay,etc.) via which you'll receive the money for your crypto.
Home screen --> tap Buy crypto -->select P2P trading -->tap Sell
- 3.You'll get the list of potential buyers ready to buy your USDT and pay you in the currency you selected and via the payment method of your choice. Select any of those options and tap on it. You'll be asked to create a nickname, please make sure that it is consistent with your registered name on Bybit. Double check the transaction details, add the payment method and tap Sell to initiate the pending process.
Select a buyer from the list and proceed to selling your crypto
Important note: the cardholder's name on the bank card you use must be the same as your Bybit account
- 4.A buyer will have 15 minutes to complete the payment during the pending process, please wait and DO NOT release coins until you got the money. Once you’ve successfully received your payment from the buyer, click on Release Now to send them your coins.
Tap Release Now once you have received the payment from the buyer
Congratulations on your first P2P operation with crypto!
For any further information, feel free to refer to: https://learn.bybit.com/bybit-p2p-guide/how-to-sell-coins-on-bybit-p2p/
Last modified 22d ago