You have decided that you want to start your trading journey and you want to deposit your money to a forex broker, or perhaps you are exploring your options on how you can deposit and withdraw money from your account instantly. If you using Deriv as your forex broker, you probably have heard about the Deriv peer to peer service, or you have heard people talking about it but you are still not sure how it works.
The Deriv peer to peer service allows you to easily deposit or withdraw money from your account by buying or selling Deriv credits in exchange for your local currency. We will explore the two methods that you can use this service and these methods are:
Using the Website
Using the Application
Using the website to do a Deriv peer to peer transaction
To access the website, click here. Then follow the steps as shown below.
After successfully logging in to your Deriv account, go to Cashier then select DP2P. On the Buy/Sell tab, you can either buy Deriv credits or sell them for your local currency. Adverts created by other Deriv users will appear here, and each advertiser will be buying or selling at a specific rate, so you can choose to make the transaction with someone offering the best rate.
If there is no advertiser offering the rate that you are looking for, then you can create your own advert by going to the My ads tab.
Once you click on the Create new ad button, you will need to select whether you want to buy or sell Deriv credits. You will need to specify the total amount of Deriv credits you would like to buy or sell, the rate that you are willing to use for the transaction, minimum and maximum amount you can buy or sell.
After successfully posting the advert, it will appear in the My ads tab.
When a Deriv user clicks on your advert to sell Deriv credits, they will need to send you money to your Bank account or E-wallet before you transfer Deriv credits to their account. Similarly, if a user clicks on your advert to buy Deriv credits, they will need to provide their Bank account or E-wallet details for you to make the payment at the agreed rate.
Using the application to do a Deriv peer to peer transaction
You will need to download and open the DP2P application which is available on Google Play Store. After opening the app, you will be required to sign in to your Deriv account. The steps for buying or selling Deriv credits are the same as the ones on the website. To create your own advert you need to select the tab written Ads.
You will also need to select the Buy USD or the Sell USD window depending on the transaction you would like to make, then enter the transaction details and post the advert. The custom ad will then appear on the Buy/Sell tab.
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Very informative thank you so much
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