To make a deposit into your Phemex App account wallet, follow our guide carefully:
- Open the Phemex App and log in to your account.
- *Completion of KYC and binding 2FA is mandatory for P2P transactions.
- Tap on the P2P icon in the right corner of the middle portion of the app.
3. Upon selecting the P2P icon, you will be met with two options, Express and Third-party service.
4. For Express, tap on Buy and select the type of cryptocurrency you would like to purchase. You will have 3 options; USDT, BTC, and ETH. For this example, we will be proceeding with USDT.
5. Enter the amount of cryptocurrency you would like to purchase in the section labeled I am buying [blank] USDT. The price for the amount of cryptocurrency will be shown in your selected currency as well. Then, tap Buy USDT with 0 fees.
6. A pop up will appear asking you to confirm your purchase. Your total fiat to be paid will appear, along with the cryptocurrency you will receive labeled I will receive [blank] USDT. Then, select your preferred method of payment from the dropdown list below. Once you are done, tap the Confirm Purchase button.
- To confirm the purchase, users must make sure they do not have pending orders, otherwise:
7. Once the purchase is confirmed, an Order will be created. Make sure to double check all the details. If something is not correct, tap Cancel. However, if everything looks good, tap Make Payment.
8. A countdown of remaining time to pay the seller will appear, giving users time to manually transfer the fiat through the preferred payment method. Make sure to complete the transaction within the time limit, as the order will expire otherwise. After completing the transaction, tap Transferred, notify seller.
9. You have now paid and are waiting for confirmation. A new timer will start for your seller to transfer the crypto to you. Please wait patiently for the seller to complete the transaction.
10. Once the countdown is over, your cryptocurrency should be in your Spot wallet. Congratulations on making your first P2P purchase on the Phemex App!
- In the case of either the seller not releasing crypto or the user not transferring the fiat, the order for the cryptocurrency can be canceled.
- In the case of the Order expiring as it failed to be processed within the payment time, users can tap on Appeal to open a dispute. The two parties (seller and buyer) will then be able to initiate a chat with each other to better understand the issue.
How to Buy Crypto on the P2P Marketplace App (P2P)
- At the top of the screen, tap P2P and then select Buy. You will see a list of currencies available, which you can select. For this example, we will be using USDT.
- You will see a list of several sellers on the P2P Marketplace. Scroll through to find the right price for the cryptocurrency you want to purchase. Look at what payment methods the sellers accept as well, as it would differ per user. Once you have found the perfect match, tap Buy.
- *NOTE: Check out the seller’s credentials before making a purchase. Visit their profile and view their number of trades, number of order completions, and user rating beforehand.
3. After tapping on Buy, make sure to enter the Amount of crypto you would like to purchase. The price of the cryptocurrency will automatically be reflected in the Quantity column.
4. Select Choose Payment Method and choose an option from the drop down menu. Make sure that your selected payment method matches your seller, which is reflected on their account. Once you have selected the payment method, tap on Buy USDT with 0 fees.
5. For the next steps, please scroll up and refer to steps 6 to 10. By the end of the process, your cryptocurrency should be in your Spot wallet. Congratulations on making your first P2P purchase on the Phemex App!