Not a flaw though, not only Nigerian are trading P2P with Naira, some people use it as Forex trading in which they buy and hold Naira to take advantage of the price volatility. One other advice, avoid high rates, although most of the ads are usually ineligible but even if you get eligible avoid them and go for traders that have high numbers of trade with better completion percentages than those mouth watering rate that have very few transactions because you fit land yourself for problem. The exchange has verified merchant and those are the people we should be trading with. Also use filter when trading, set wetin you wan they see and not allow the system show you options automatically.
Thank you for much clearer explanation. Even though Charles tried, he didn't go into depth like this and it left me thinking the P2P feature was a flaw in the ByBit system but this your explanation makes it better. See why e make sense to ask question no matter how you think say the question sound. e still get plenty things wey we nor know. Like, na today i take know about this particular use of this P2P for Forex. All the while na only the physical one wey dem dey buy from those Bureau dey change I think say e stop. As for the last part, i sabi use that one well well. I put in wetin I want, I look the trader history before I proceed or choose not to proceed with the trade. 
Topic: Inquiry About "Ineligible" Tag and Potential Price Manipulation on Bybit P2P (Read 161 times)
October 21, 2024, 09:28:02 AM
October 20, 2024, 07:52:53 AM
Not a flaw though, not only Nigerian are trading P2P with Naira, some people use it as Forex trading in which they buy and hold Naira to take advantage of the price volatility. One other advice, avoid high rates, although most of the ads are usually ineligible but even if you get eligible avoid them and go for traders that have high numbers of trade with better completion percentages than those mouth watering rate that have very few transactions because you fit land yourself for problem. The exchange has verified merchant and those are the people we should be trading with. Also use filter when trading, set wetin you wan they see and not allow the system show you options automatically.
Thank you for much clearer explanation. Even though Charles tried, he didn't go into depth like this and it left me thinking the P2P feature was a flaw in the ByBit system but this your explanation makes it better. See why e make sense to ask question no matter how you think say the question sound. e still get plenty things wey we nor know. Like, na today i take know about this particular use of this P2P for Forex. All the while na only the physical one wey dem dey buy from those Bureau dey change I think say e stop. As for the last part, i sabi use that one well well. I put in wetin I want, I look the trader history before I proceed or choose not to proceed with the trade. 
October 20, 2024, 03:50:49 AM
I use BYBIT for most of my P2P trades. I trust them and they haven't given me any reason to think otherwise. However, I’ve noticed that some traders have been tagged as "ineligible" on their adverts, and one a common thing about these traders is that they have almost similar price. Why did ByBit tag them as ineligible? Also, could their strategy of maintaining higher prices be considered currency manipulation?
Actually I have been using bybit for quite a while now and this kind of stuff that was displayed on the picture is always there because anytime I go to the P2P side the first orders normally look like this and this means that they set their orders different from the actual price and bybit do not allowed such price difference so they had to put them as ineligible because already nobody would like to buy in such a higher price, so is just a normal thing and giving ineligible doesn't mean that they have committed any crime because they would become eligible again if they should bring their price to the selling level. However I think what bybit should have done is to completely remove or disallowed anybody who wants to sell on that kind of level because going into the P2P section and seeing those things actually make the interface look somehow because someone who is using it the first time can get confused in knowing what to do.
legendary
Activity: 2450
Merit: 4295
eXch.cx - Automatic crypto Swap Exchange.
October 20, 2024, 02:23:43 AM
Did you know that I never thought to click on the ads until now. Thank you Charles. But then I think this is a flaw in their the ByBit P2P system. Why did I say so. First one - why show me an add for someone in another country when they system knows that I inputted details and KYC all submitted shows that I am Nigerian. Second, since they keep track of my orders, then isn't it wise to show this adds to only those who in the last 30 days completed more than 60 orders? I feel that this is how it should be.
Not a flaw though, not only Nigerian are trading P2P with Naira, some people use it as Forex trading in which they buy and hold Naira to take advantage of the price volatility. One other advice, avoid high rates, although most of the ads are usually ineligible but even if you get eligible avoid them and go for traders that have high numbers of trade with better completion percentages than those mouth watering rate that have very few transactions because you fit land yourself for problem. The exchange has verified merchant and those are the people we should be trading with. Also use filter when trading, set wetin you wan they see and not allow the system show you options automatically.
October 19, 2024, 03:35:16 PM
I believe that Bybit displaying the ineligible ads is actually a feature and not a bug but I'm not sure of the exact reason. Bybit is not the most perfect platform but if you know your way around it, things like ineligible ads and the display of ads not in our region will be like a thing of the past for you.
I usually use the filter button to set the amount and payment methods I want the results that are returned are based on the input. I am looking forward to future updates where these "ineligible" will be removed. They should instinctively know that even product design wise abi na user experience wise e nor dey okay to dey see "ineligible" for top result search even after using their filter option.
October 18, 2024, 05:52:06 PM
Did you know that I never thought to click on the ads until now. Thank you Charles. But then I think this is a flaw in their the ByBit P2P system. Why did I say so. First one - why show me an add for someone in another country when they system knows that I inputted details and KYC all submitted shows that I am Nigerian. Second, since they keep track of my orders, then isn't it wise to show this adds to only those who in the last 30 days completed more than 60 orders? I feel that this is how it should be.
If you're not eligible, it's simply because the buyer set a condition that made you to be ineligible. Some buyers have different rules for their trades like amount, and even payment methods. Fortunately, there is a filter button to filter out only trades that you're eligible to trade within.
I believe that Bybit displaying the ineligible ads is actually a feature and not a bug but I'm not sure of the exact reason. Bybit is not the most perfect platform but if you know your way around it, things like ineligible ads and the display of ads not in our region will be like a thing of the past for you.
October 17, 2024, 01:29:05 PM
Click on the ad, you will see the reason why they are ineligible. It can be you that is ineligible to proceed. See examples below:
Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
Did you know that I never thought to click on the ads until now. Thank you Charles. But then I think this is a flaw in their the ByBit P2P system. Why did I say so. First one - why show me an add for someone in another country when they system knows that I inputted details and KYC all submitted shows that I am Nigerian. Second, since they keep track of my orders, then isn't it wise to show this adds to only those who in the last 30 days completed more than 60 orders? I feel that this is how it should be. Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
October 17, 2024, 05:16:15 AM
I have had a wrong perspective of these ineligible traders shown in the Bybit account. I almost felt they have violated the Bybit rules and regulation of the P2P system. One thing i still don't get to understand is why their price seems higher than the price of others. When the price of naira was about 1600 naira per $1 the orders with ineligible will be showing 1700 naira per $1. Because of that i have never attempted to initiate any trade with them.
No, if you read it well you will understand what they meant.. it actually means you don't have them privilege to trade with such accounts. I once had same perspective like you did but I got to understand what it actually meant. I've tried so many times to meet the 30days trading target but, it's difficult as im not always trading p2p. I wonder if we have someone here on the forum whom has been able to meet up with that. What I like the most is their price being higher but still I'm not eligible..
October 16, 2024, 08:33:02 PM
I have had a wrong perspective of these ineligible traders shown in the Bybit account. I almost felt they have violated the Bybit rules and regulation of the P2P system. One thing i still don't get to understand is why their price seems higher than the price of others. When the price of naira was about 1600 naira per $1 the orders with ineligible will be showing 1700 naira per $1. Because of that i have never attempted to initiate any trade with them.
October 16, 2024, 06:03:10 PM
Click on the ad, you will see the reason why they are ineligible. It can be you that is ineligible to proceed. See examples below:
Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
Information is indeed powerful and knowledge will help you to learn, unlearn and relearn. Charles -Tim, do you know that I have been trying so hard to know the reason why they placed some people in the said Bybit as ineligible but yet they never get to remove them totally from traders I even thought that those with the ineligible tags are traders who must have violated the rules but thank God I came across this thread this evening and your explanation has shifted my knowledge to a different understanding. I will just try to initiate one trade with one of the ineligible tags lemme confirm for myself, thanks for the information. +1
October 16, 2024, 05:27:48 PM
You have to meet some specific criteria to be able to trade with them that's why its showing ineligible, you can click on the ineligible label to see the info on why you can't trade with such people.
I haven't done anything like placing an ad before but I think it's usually setted by the poster of the particular ads since you can still access others with same criteria so i think everything comes from the poster.
I haven't done anything like placing an ad before but I think it's usually setted by the poster of the particular ads since you can still access others with same criteria so i think everything comes from the poster.
Quote
Also, could their strategy of maintaining higher prices be considered currency manipulation?
They are I think and most times they look fishy though they might have alot of orders but it's better to just go for others that you know the price will still hold for you if you trade with them.
October 16, 2024, 05:26:22 PM
Some of them when click on other you will get a pop up message that the Price have Changed and if you check the real price those vendors will put, it will be highly less than market price, and that is walhy bybit tag them most times, those set of trader's are part of the price manipulators that we are talking about, although the ineligible tag on the ads is a temporary thing and does not come with any penalty when the price is updated rightly their ads become eligible again, I know a vendor that engage in such practice and most times I just skipped their ads since it either tag ineligible or price obviously so low than market price.
You need to be extra careful when using exchange p2p because their are alot of things that you need to pay close attention to because it will safeguard you to avoid making wrong trading decisions, I don't know why those vendors engage in such unethical behavior if they really are set out to make good trade on the exchange, why manipulating the ads to the extent of being tag ineligible for such act.
You need to be extra careful when using exchange p2p because their are alot of things that you need to pay close attention to because it will safeguard you to avoid making wrong trading decisions, I don't know why those vendors engage in such unethical behavior if they really are set out to make good trade on the exchange, why manipulating the ads to the extent of being tag ineligible for such act.
October 16, 2024, 05:17:47 PM
Click on the ad, you will see the reason why they are ineligible. It can be you that is ineligible to proceed. See examples below:
Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
Like the second example in the above image, if you have 60 completed orders in the last 30 days, you will be eligible to proceed.
October 16, 2024, 05:11:42 PM
I use BYBIT for most of my P2P trades. I trust them and they haven't given me any reason to think otherwise. However, I’ve noticed that some traders have been tagged as "ineligible" on their adverts, and one a common thing about these traders is that they have almost similar price. Why did ByBit tag them as ineligible? Also, could their strategy of maintaining higher prices be considered currency manipulation?
Jump to: