What Is P2P Trading?
P2P (Peer-to-Peer) trading allows users to buy and sell cryptocurrencies directly with one another, without intermediaries. Unlike traditional exchange-matching models, P2P trading gives users the flexibility to choose trading partners, negotiate prices, and select preferred payment methods independently. Hotcoin P2P supports trading cryptocurrencies using fiat currencies such as CNY, THB, and other local options. The platform integrates escrow protection, order-matching tools, and a dispute resolution system to ensure secure, transparent, and fair transactions.
How to Buy Crypto via P2P on the App
1. Enter the P2P Page
Open the Hotcoin App, tap the Trade icon at the bottom of the screen, then tap the P2P tab at the top to enter the Buy page.
2. Select a Merchant
On the Buy page, USDT is the default cryptocurrency for purchase. To change your fiat currency (e.g., CNY), tap the currency label in the upper-right corner.
Each merchant listing displays:
- USDT price
- Available quantity
- Order limit per transaction
- Supported payment methods
When choosing a merchant, consider the following:
- Price: Choose a merchant with a price that meets your expectations
- Limit: Ensure your purchase amount falls within the merchant’s order limits
- Completion rate: Prefer merchants with a completion rate above 95% for higher reliability
- Payment methods: Make sure the merchant supports your preferred payment method
3. Create an Order
- Click the green Buy button next to a merchant to enter the order page
- Enter the fiat amount in By Amount, or enter the USDT quantity in By Quantity
- After confirming the details, click Buy to create the order and enter the payment page
Important: After the order is created, the price will be locked. Payment must be completed within 15 minutes, or the order will be automatically cancelled.
4. Confirm the Order
On the Pending Payment page:
- Confirm the order details
- Check the merchant’s payment account information
- Review the merchant’s chat messages for any trading instructions
After confirming everything is correct, click Pay. If you need to cancel the order, click Cancel.
⚠️ Do not cancel the order if you have already transferred the funds.
5. Complete the Transfer and Confirm Payment
Transfer the payment to the merchant using the specified method (e.g., WeChat Pay, Alipay, or bank transfer). Once the transfer is complete, tap I Have Paid.
In the confirmation pop-up, check I confirm that I have transferred the funds to the merchant's account, then tap Confirm.
⚠️ Notes
- Please complete the transfer within the remaining payment time
- If multiple payment methods are supported, choose one method before making the payment
- Use a payment account verified under your own name
- Do not include any cryptocurrency-related remarks in the transfer note (e.g., BTC, USDT)
6. Waiting for Crypto Release
After payment confirmation, the order status will change to Pending Release, indicating that the merchant is verifying your payment before releasing the crypto. This process usually takes 5–30 minutes, depending on the merchant’s online status.
Once the merchant confirms the payment and releases the cryptocurrency, the order status will update to Completed, and the digital assets will be credited to your account.
Important Notice
- 24-Hour Withdrawal Limit: A 24-hour withdrawal restriction will be triggered on your account after purchasing crypto via fiat.
- Scope of Restriction: This applies to all assets in your account. During this time, on-chain withdrawals and P2P selling will be disabled.
- Available Services: The 24-hour countdown starts from your latest fiat purchase. You may still use your assets for Spot, Futures, and Earn trading within the platform.
