How P2P crypto trading works
Peer-to-peer markets let you buy and sell USDT directly with other people using bank transfers. This is how the process and the escrow work.
On a peer-to-peer (P2P) market you trade crypto directly with another person instead of with the exchange. The exchange only holds the crypto in escrow until both sides have done their part.
A typical purchase, step by step
- You pick an offer, for example a merchant selling USDT for 339 LKR each, with a limit of 3,000 to 35,000 LKR.
- You open an order. The exchange locks the seller's USDT in escrow.
- You send the money using the payment method listed, usually a bank transfer, and mark the order as paid.
- The seller checks their bank account and releases the USDT. It lands in your exchange wallet.
Selling works the other way round: your USDT is locked, the buyer pays you, and you release only after the money is really in your account.
Why prices differ from the bank rate
P2P prices are set by the people trading. When many people want dollars, USDT trades at a premium over the official rate. Merchants also earn the gap between their buy and sell prices, called the spread. Coinbell shows the best offer and the median of the top ten, because the very best offer often has a high minimum amount.
Picking a good merchant
- Look for hundreds of completed orders and a completion rate above 95%.
- Check that the limits match the amount you want to trade.
- Read the merchant's terms before you open the order.
Never move the conversation or the payment outside the exchange. The escrow only protects trades that stay on the platform.