Understand Bybit Fast Release & Swift Payment and be Free from Scammers

[Bitcoin-Forever]

Understand Bybit Fast Release & Swift Payment and be Free from Scammers

All you need is to identify any ad with this feature highlighted and enjoy P2P like never before.


 

Some have been used to this already, while it may be new to some other Bybit users.

Since there I've been a lot of complain going to Bybit team over continuous attempt to scam using P2P from some of their eligible ads you see when making a trade with a merchant on their platform, they have also make it more affordable for everyone to once again gain trust in what they offer and have already implemented what is called fast release for buy and swift payment for sell to combat against scam.

I will put you through on how this feature comes with unique benefits to every P2P trader on Bybit, and this seems to be one of the recent advancements you can ever expect from Bybit p2p.

• Fast release is intended for those who want to buy, and this will automatically credit/deposit in seconds and release the intended coin you are buying as long as payment is being made.
• 24-hour active release confirmation: you don't have to wait any longer for daytime p2p transactions; even when the merchant is offline, this feature will automatically release to you once you have made the intended payments accordingly.
• There are no scammers or any negotiation you will pass through chatting with the buyer or seller for price reduction; everything is automated, fast, and reliable.
• You don't have to fully depend on using Express before you can completely avoid scammers on p2p.

This is my little experience with Bybit of recent and I think it will be a good source of information to other members that might have not been quite aware of this and how it's can serve them the purpose of evading scam merchants ads on Bybit p2p, I must confess that the fact that the merchant is offline does not delay your confirmation in any way, it is fast, reliable and itchfree experience with Bybit.

[Tetu100]

I have been enjoying this experience for quite some times now and it's indeed more safed and scammed free. However, the first time a friend told me about it so I decided to checked on it, the experienced I encountered was topnotch and more safed. I wanted to sell some of asset so fI got a merchant engaged, and you know the amazing thing is that before I even know I have initiated a trade I was already credited without any form of negotiation from the merchant or whatever.  I really loved the verifying symbol because it helps in distinguishing a real merchant from the fraudulent once.

[Loyang]

Each has its advantages and disadvantages, but for me, the disadvantage between Swift Payment and Fast Release seems to be greater for us. But the biggest thing is that I like to test everything on my own responsibility. The difference in price sometimes makes a big difference, that's why many people don't use it and whenever we rush too much, the chances of us making mistakes are much higher and there is a possibility of problems with the payment account, etc. So I personally like to do it myself.

[Agbamoni]

I couldn't look up a previous thread that had this discussion already.
However, I have been trading with the blue thick merchants for a long time now, and yeah, the transaction is always fast.
They are classified under the institutional section. The section is meant for professional p2p traders, companies, or brokers who deal on high quanitity trade. These guys dont ask for extra because they are bound by agreement with the exchange.

[Bitcoin-Forever]

Each has its advantages and disadvantages, but for me, the disadvantage between Swift Payment and Fast Release seems to be greater for us. But the biggest thing is that I like to test everything on my own responsibility. The difference in price sometimes makes a big difference, that's why many people don't use it and whenever we rush too much, the chances of us making mistakes are much higher and there is a possibility of problems with the payment account, etc. So I personally like to do it myself.

I understand you plight that we should also consider a disadvantage to any thing we see with an advantage, one thing that we have to emphasize on this note is for us to make filter before we select any ads for p2p, this is the first thing always consider, secondly, the rate idea and you are only have to view it by yourself and see that what they are offering to buy or sell is fine and okay by you before you could pick such advertiser.

Lastly, I have someone who already traded P2P on Bybit and sold at #1,396.00 per $1 exchange rate, just last week. This is why I like to first check the reference price they are offering before we can click on any ad, and also ensure that such a user has a swift payment or fast release option before we can trade with them.

[Antidote47k]

~snip

This shouldn’t come as a surprise because many merchants with those tags use API tools to automate their P2P operations. A lot of the process, including order handling and release confirmation, can happen automatically, which is why transactions are completed within seconds.

One thing I would advise is making sure your payment details are accurate. With automated systems, there may be less manual verification, and some merchants may not have strict requirements for matching the payer’s name with the provided payment details. This means users need to be extra careful to avoid mistakes that could lead to disputes.

Always stay safe and follow the platform’s P2P guidelines.

[PostQuantumBTC]

This shouldn’t come as a surprise because many merchants with those tags use API tools to automate their P2P operations. A lot of the process, including order handling and release confirmation, can happen automatically, which is why transactions are completed within seconds.

It is not a surprise but is there any other exchanges that are doing this right now? I have used many exchanges including Bitget, Gate and OKX, I have not seen something like this on the exchanges. This is new which will be the reason Bitcoin-Forever posted about it. I will like to know if the bot was created by Bybit which I think will be what will happen. Those that are complaining of scammers and manipulations on Bybit will no longer complain.

[Rockson1]

Each has its advantages and disadvantages, but for me, the disadvantage between Swift Payment and Fast Release seems to be greater for us. But the biggest thing is that I like to test everything on my own responsibility. The difference in price sometimes makes a big difference, that's why many people don't use it and whenever we rush too much, the chances of us making mistakes are much higher and there is a possibility of problems with the payment account, etc. So I personally like to do it myself.

I won't lie I have been enjoying the swift payment feature and I love it, although I may not have paid much attention to the difference in price  or the account whatever but since it bybit introduced it, p2p has not been difficult, so far it is better because it was frustrating when some of those scammers will come up with their wicked negotiation and continue to delay you for no reason, I'm sure that most persons that make use of Bybit p2p has felt some kind of relief ever since the swift payment as was introduced to the system, although your advice should joke with, one has to be careful too.

[Antidote47k]

This shouldn’t come as a surprise because many merchants with those tags use API tools to automate their P2P operations. A lot of the process, including order handling and release confirmation, can happen automatically, which is why transactions are completed within seconds.

It is not a surprise but is there any other exchanges that are doing this right now? I have used many exchanges including Bitget, Gate and OKX, I have not seen something like this on the exchanges. This is new which will be the reason Bitcoin-Forever posted about it. I will like to know if the bot was created by Bybit which I think will be what will happen. Those that are complaining of scammers and manipulations on Bybit will no longer complain.

No the bot was not created by Bybit, these APIs have existed for a while now, some people used them on Binance too so it’s not a new thing. There are several of them, most top merchants know about them and they are not particularly restricted to Bybit, there is option for Bitget too but bybit has more traffic so most merchant that can afford to use it are on Bybit. I’m a P2P merchant too

[Exitoral]

I don't think this is the only way to avoid scammers. Besides I have been using bybit and I don't use people who feature fast release and swift payment and I still get my money fast. Give or take 15 mins. There's a filter that lets you select high rank members that won't scam you. Easy way to even avoid scam is to trade with people that have more good feedback than bad. And that solves your problem. Always read their terms and conditions before you transact with them. If you don't like their terms and conditions, trade with another person. But if you want to still go with Ops method, all fine and good.

[Odogwu-Blockchain]

I've only used the vendor that shows institutions on their tag for fast payments when I am selling, the payment has always been very fast even when buyer is offline, immediately you accept to work with them, the payment is done automatically and then you good to go.

Have you seen those institutional buyers before?

[Sticky Bomb]

• Fast release is intended for those who want to buy, and this will automatically credit/deposit in seconds and release the intended coin you are buying as long as payment is being made.

I seem lost here, how is the"Fast Release" meant to deposit automatically in seconds?
Isn't it you as the buyer that would make payments to the stipulated account number within the countdown before assets are released to you and how would the coin be released to you when payment is still "being made" when it's not confirmed yet?

[Mpamaegbu]

Isn't it you as the buyer that would make payments to the stipulated account number within the countdown before assets are released to you and how would the coin be released to you when payment is still "being made" when it's not confirmed yet?

You know sey awa language dey confusing sometimes like dat as we dey write am. Wetin OP mean there be sey as soon as d money hit buyer's account, na at once ur coin go hit u too. The thing dey like speed of light. You too go dey surprised as d exchange take happen.

OP, and every other persin wey don comment here, my suggestion to us be to value dat No Third Party Account acceptance wey P2P platforms dey warn against way more than getting swift payment or fast release. No allow any merchant use a third party account pay u or receive money from u. E get why. You nor go fit explain am to free ursef wen kasala burst. Many of us nor go too value dis carefulness until e blur for us.

[Sticky Bomb]

Isn't it you as the buyer that would make payments to the stipulated account number within the countdown before assets are released to you and how would the coin be released to you when payment is still "being made" when it's not confirmed yet?

You know sey awa language dey confusing sometimes like dat as we dey write am. Wetin OP mean there be sey as soon as d money hit buyer's account, na at once ur coin go hit u too. The thing dey like speed of light. You too go dey surprised as d exchange take happen.

Oh! Okay, points noted, as I read am, e come be me like say dem dey release coin even before you pay and de thing shock me. Most of those payments dey automated now, I don see merchant wey pay me within 5 seconds wey I clicked on sell, but this automations shaa get anoda loophole, if the exchange gets hacked or compromised from the inside, all these automated payment can be compromised and funds drained_{My wierd thoughts though, to make money na risk shaa}

OP, and every other persin wey don comment here, my suggestion to us be to value dat No Third Party Account acceptance wey P2P platforms dey warn against way more than getting swift payment or fast release. No allow any merchant use a third party account pay u or receive money from u. E get why. You nor go fit explain am to free ursef wen kasala burst. Many of us nor go too value dis carefulness until e blur for us.

Omor, sometimes I dey see people use company account with different name take pay me ooo, I neva even reason am go dis far sef, but most of dem dey put dem name and yours for de remark so dat e go serve as evidence of who pay, isn't dat enough?

[Mpamaegbu]

Omor, sometimes I dey see people use company account with different name take pay me ooo, I neva even reason am go dis far sef, but most of dem dey put dem name and yours for de remark so dat e go serve as evidence of who pay, isn't dat enough?

Persin fit change username. Persin fit change company name. Persin fit change terms and conditions. But persin nor fit change dem registered name on the exchange. Wetin make me nor dey reason company's name at all bi sey, a merchant fit change am tomorrow and I nor go fit get concrete evidence to hold dem in case gbenge happens. Most of those swift payment merchants dem dey use company's account and na why I nor dey like patronize dem. I dey like avoid anything wey go fit give me problem (in Kolu's voice 😏).

[SmartCharpa]

Everyone using Bybit will understand that the settings no dey like before. Some buyers with that blue thick now deliver in a second. Your p2p transaction no longer take you some minutes again before they release your money. This is very interesting for everyone that is using Bybit to trade their dollars, unlike what we used to experienced before with some buyers, where a merchant would tell you they were going remove a certain amount for a fees,  and Bybit was not charging them.

Who else realized say since we have these bots that make payments within a second, all the bybit beggars have stop. All those  saying senior man make I remove this amount have stop. But even with that, make we dey very careful at some point. They use bots to make payments within a second doesn’t mean you can’t get scammed, always confirm your payment before releasing the coins.

[Ndabagi01]

This is my little experience with Bybit of recent and I think it will be a good source of information to other members that might have not been quite aware of this and how it's can serve them the purpose of evading scam merchants ads on Bybit p2p, I must confess that the fact that the merchant is offline does not delay your confirmation in any way, it is fast, reliable and itchfree experience with Bybit.

I have been using this service for sometime and I must testify that it has been the best invention for the p2p service of Bybit. Your payment comes almost immediately and you don’t need to keep waiting due to delay in payment or the merchant not online. They’re very easy to spot through their ratings, and also some may have even traded with you in the past and you can also see that just on their displayed ads.

About two weeks ago using this automated payment, I have faced like N50 deduction from money sent to me and I was surprised. It tempted me to not release immediately and messaged the merchant but after the merchant sent me the receipt of payment, the actual amount was sent but while I was receiving the money, N50 was deducted, I don’t know if anyone has faced similar issues before. But overall, this automated payment is the best invention in Bybit p2p services.

[CryptopreneurBrainboss]

This is my little experience with Bybit of recent and I think it will be a good source of information to other members that might have not been quite aware of this and how it's can serve them the purpose of evading scam merchants ads on Bybit p2p, I must confess that the fact that the merchant is offline does not delay your confirmation in any way, it is fast, reliable and itchfree experience with Bybit.

Glad you could share this experience here as this will be helpful to some of the members still struggling with P2P transactions. I experienced similar swift transaction recently and I was surprised since it's been long I made use of Bybit, I had my other sources where I get Naira from but recently I wanted to make use of the Buybit exchange for a quick transaction and I noticed immediately after I created my sell order it got confirmed and I received my Naira.

Initially I thought it was a bot from Moniepoint/Opay or other Fin Tech companies in the country that have implemented this option but as I got to look through the platform I understood it was an initiative created by Bybit exchange itself and I must say I enjoyed this experience.

It almost felt like I was making use of an instant exchange that wasn't centralized but I knew that experience wasn't real as Bybit itself is a centralized exchange but anyway it is better than how the platform used to be before when I earlier used it as then transactions get delayed up to 30m to 1 hour but with this swift option I believe things look better now.

[Yablee0]

Excellent update, however this has been another perfect way bybit has introduced in combatting against fraudster and also in stepping up their game to be more faster and reliable than it was. And I can tell you for free that the last time I traded using bybit exchange,  the experience was actually top-notch and totally different from before, and again one thing that literally catch my  attention was how fast I got my alert even before i knew I was actually trading. However, this is actually a big win for them because I believe this new innovation will attract  more users and even the once that initially left due to their poor service will see reasons of giving them a second chance.