Buy/sell FAQ
Q1: What is P2P Cryptocurrency Trading?
A1: P2P, or peer-to-peer, trading, also known as C2C (Customer to Customer) in some regions, refers to users buying and selling cryptocurrencies directly through a P2P platform. The platform facilitates the exchange by allowing buyers and sellers to publish trading information while ensuring the secure and timely delivery of digital assets during the execution of trades.
Q2: Is there a fee for using P2P trading?
Are there advertising bidding fees? A2: Cwallet's P2P platform is free. Whether you're a buyer or seller, enjoy an efficient digital asset trading experience with zero transaction fees. For merchants, our platform does not have advertising bidding fees, providing a fair and transparent trading environment.
Q3: Are the quotes seen in the P2P market provided by Cwallet?
A3: No, Cwallet serves only as the platform providing infrastructure for P2P trading. All quotes are independently provided by individual merchants.
Q4: How am I protected as a P2P trader?
A4: All online transactions are protected by escrow. When a trade advertisement is submitted, a corresponding amount of cryptocurrency is reserved from the seller's wallet. This means that if the seller does not release your cryptocurrency, customer support can release it to you from the reserved funds. Sellers, please do not release funds until you've confirmed receiving the buyer's funds. Note: some payment methods used by buyers may not be instant and carry the risk of funds being refunded.
Q5: Can I trade without completing KYC verification?
What do I need to do before using P2P trading? A5: All Cwallet users must complete KYC to access P2P/OTC trading. You can complete identity verification through [KYC tutorial]. Before engaging in P2P trading, it's recommended to enable SMS verification and have at least one 2FA device (Email/Google Authenticator). Adding payment methods ensures that P2P transactions occur directly between two users, and fiat currency can only transfer when the buyer's and seller's payment methods match.
Q6: What should I do if an order is disputed?
A6: In case of an order dispute, users can raise a dispute. Our customer support team will handle raised disputes and release cryptocurrencies after verification. We are committed to ensuring a fair and transparent trading environment, addressing any potential issues.
Q7: How can I cancel an order?
If the buyer fails to make payment within the specified time, the order will timeout and be cancelled. If payment is made but the buyer fails to submit "Payment Confirmed" information, leading to an order timeout, it can enter the dispute process. Orders can be cancelled at any time during the transaction. However, it's advised not to cancel paid orders. Instead, contact the seller before cancelling to reach an agreement on a refund.
Q8: How can I post a trade advertisement? How do I become a merchant on the platform?
A8: Only merchants can post trade advertisements. You can become a merchant through our convenient process, allowing any eligible merchant to freely join and participate in P2P digital asset trading. (Merchant Onboarding)