Fiat Balance in P2P Trading: The Complete Guide

What is a fiat balance? It is a feature that allows traders to store and use real money (fiat currencies) directly within payment accounts for peer-to-peer transactions. Using a fiat balance in P2P trading speeds up settlements between buyers and sellers, as funds are transferred directly within the platform without the need to withdraw to external accounts.

What is a fiat balance and its advantages

A fiat balance is an account on the platform where funds in traditional currencies (rubles, dollars, euros, and others) are stored. For P2P trading, this means instant settlements without delays for bank transfers.

Key advantages of using a fiat balance:

• Speed: Funds are credited immediately after payment confirmation
• Convenience: Centralized storage of funds for all transactions
• Flexibility: Support for various fiat currencies for international trading
• Security: Funds are protected within the payment system

Instructions for buyers

Step 1. Go to the peer-to-peer trading section on the platform’s main page.

Step 2. On the buy page, apply filters to find suitable offers. Select the desired fiat currency and mark the payment method as “Fiat balance” according to your deal requirements. Pay attention to the following seller parameters:

• Number of completed orders in the last 30 days
• Percentage of successful deals
• Minimum and maximum order size
• All accepted payment methods by the seller

Step 3. Choose the desired seller and click “Buy.” Make sure this seller supports payments via fiat balance.

Step 4. On the order creation page, select “Fiat balance” as the payment method. If your account has insufficient funds, use the “Deposit now” function to add funds.

Step 5. Confirm the payment by entering the authentication code from the Google Authenticator app or SMS password.

Important: The amount you pay will be immediately transferred to the seller’s account from your fiat balance.

Step 6. Wait for the seller to send the purchased cryptocurrency.

Step 7. After receiving the crypto assets, visit the “My Assets” section to check your balance and transaction history. The order status can also be tracked in the peer-to-peer deals archive. If issues arise, submit a support request with your profile ID, order number, and screenshots.

Instructions for sellers

Step 1. Open the peer-to-peer trading section and go to the selling menu.

Step 2. Applying the necessary filters for fiat currency and payment method “Fiat balance,” review available offers from buyers. Each offer contains information about:

• Buyer statistics (number and percentage of completed deals)
• Minimum and maximum order limits
• Supported payment methods

Step 3. Select a suitable buyer and click “Sell,” verifying that they use fiat balance as the payment method.

Step 4. Specify the amount of cryptocurrency to sell or the desired amount in fiat currency. Confirm that the fiat balance is selected as the payment method, then click “Sell” to create the order.

Step 5. During the payment waiting stage, the buyer has a set amount of time to complete the transaction. You can see the remaining wait time and use the built-in chat to communicate with the buyer.

Step 6. There are two possible outcomes:

Successful completion: after receiving the payment, your crypto assets will be automatically transferred to the buyer. The deal is closed.

Order cancellation: if the buyer does not complete the payment within the allotted time, the order will be automatically canceled. The reserved cryptocurrency will be returned to your account.

Useful tips and safety

When working with a fiat balance, follow these rules:

• Verify the counterparty: review their rating and transaction history before starting
• Maintain sufficient balance: ensure you have enough funds in your fiat balance, or the order will be canceled
• Use secure authentication methods: always enable two-factor authentication
• Communicate: with the built-in chat, you can discuss details with the counterparty in real time

If you have questions or issues with an order, contact support, providing the deal number, profile UID, and relevant screenshots.