Requirements for a merchant on Bybit

What the status is for

Every trader can become a merchant by fulfilling the conditions of the exchange. This status provides benefits and opportunities for earning. Merchants receive such bonuses:

• Reward of $300 for publishing 2 ads. At the same time, one of the offers must be about selling at least 300 USDT.
• Weekly commission of $200. The payout will be $400 if the user works with 2 fiat currencies.
• Up to $150 per week. It is received if the trader will be in the top 3 sellers in terms of trading volume of Tether stablecoin.

There is also the status of a verified merchant. It gives the following privileges:

1

ByBit

5020 $
бонус для нових користувачів!

9.8

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ByBit забезпечує зручні та безпечні умови для торгівлі криптовалютою, пропонує низькі комісії, високий рівень ліквідності та сучасні інструменти для аналізу ринку. Він підтримує спотову торгівлю та торгівлю з використанням кредитного плеча, а також допомагає початківцям та професійним трейдерам за допомогою інтуїтивно зрозумілого інтерфейсу та навчальних посібників.

2

Binance

Заробіть 100 бонусів $

для нових користувачів!

9.5

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Найбільша криптобіржа, де можна швидко та безпечно розпочати свою подорож у світі криптовалют. Платформа пропонує сотні популярних активів, низькі комісії та передові інструменти для торгівлі та інвестування. Проста реєстрація, висока швидкість транзакцій та надійний захист коштів роблять Binance чудовим вибором для трейдерів будь-якого рівня!

• Receiving a verified user badge, which increases buyer confidence and increases the conversion rate.
• The ability to list at the top of the list, even if the buy or sell price is the same as that set by other traders.
• Personalized support team that prioritizes handling inquiries and complaints.
• Access to exclusive promotions.

Advantages and disadvantages

P2P market makers receive privileges. However, the program has disadvantages.

List of requirements for a merchant on Bybit

To get the status of a P2P merchant, you need to fulfill certain conditions. In September 2023, there are 3 requirements:

• User must verify identity, confirm phone number and email address.
• Must have a minimum of 100 USDT in the funding account.
• Must make at least 5 cryptocurrency purchases with 3 different counterparties within 30 days.

In order to receive bonuses from the platform, P2P makers should maintain trading performance. The requirements are as follows:

• The price should be competitive.
• Weekly sales volume should be increased to a minimum of 5k USDT.
• It is necessary for the trader to place 2 ads. One of them is for the sale of Tether. The maximum limit of each bid is 100 USDT, and the total volume – from 300 USDT.
• The number of executed orders for the week must exceed 15% of the total number of successful orders. It is required that 15% of them consist of transactions with Tether.
• Listings must be online for at least 50 hours per week and more than 6 hours per day.

Sellers should also comply with the terms and conditions of the exchange. Otherwise, the account will be disqualified. For example, the merchant can only accept payments to a personal card or e-wallet.

Any type of fraud is also prohibited, including matched transactions, registering multiple accounts to abuse bonuses, market manipulation, and other violations of the site’s rules.

Regular sellers can get the status of a verified P2P-maker. For him, other requirements apply:

• It is necessary to make at least 30 asset sale transactions within a month.
• The funding account must be funded with 500 USDT. The platform will freeze this amount.

Instructions on how to get the merchant status on the exchange

After meeting all the conditions, you can apply for participation in the program. Instructions on how to get merchant status on Baybit:

1. Open the “Buy Cryptocurrency” section on the top left of the screen.
2. Go to the P2P trading page.
3. Hover your mouse over the “Ads” tab and select “Post an Ad”.
4. A page for creating offers will open. If some requirements are not met, the platform will prompt how to correct the situation.

The client of the trading platform also needs to specify an alias for his P2P profile and customize the parameters of the application. The ad will be displayed in the list immediately after it is placed.

It will not be possible to change the alias in the future.

Users increase their level in the “Verified Merchants” section. The application review period is 1-3 days. The answer from the representatives of the exchange will come to the client’s e-mail.

Frequent questions