General
1. What is P2P trading？
- P2P (Peer-to-Peer) trading is also known as C2C (customer-to-customer) trading in some regions. In P2P trade, the user directly deals with his/her counterparty, exchanging the fiat asset offline and confirming the transaction online. Once the offline fiat asset exchange is confirmed by both parties, the digital asset is released to the buyer.
- A P2P platform facilitates trade by providing a platform for buyers and sellers to broadcast their offers. At the same time, the escrow services of online digital assets ensure the safety and timely delivery of digital assets during trade execution.
2. Are the offers I see on P2P exchange provided by Pexpay?
The offers you see on the P2P offer listing page are not offered by Pexpay. Pexpay serves as a platform to facilitate the trade, but the offers are provided by users on an individual basis.
3. As a P2P trader, how am I protected?
All online trades are protected by escrow. When an ad is posted, the amount of crypto for the ad is automatically reserved from the seller's P2P Wallet. This means that if the seller runs away with your money and does not release your crypto, our customer support can release the crypto to you from the reserved funds.
If you're selling, NEVER release the fund before you confirm that you have received money from the buyer. Beware that some of the payment methods buyers use are not instant, and may face the risk of chargeback.
4. Can I trade without KYC? What do I need to do before trading on P2P?
4.1. Pexpay users are required to create an account to access Pexpay products and service offerings.
4.1.1 Before trading on P2P, you must enable SMS verification or Email verification.
4.1.2 You will need to complete your KYC verification before trading on Pexpay.
4.1.3 Add your preferred methods for receiving/sending payments on the Pexpay.
Click on [Add a new payment method] -> [All Payment Methods] to select your desired methods.
4.2. Why do I have to add a preferred payment method?
P2P transactions are trades that are carried out directly between two users. This means that fiat currency can only be transferred between the two users if the buyer's and seller's payment methods match. For example, User A has a debit card from ABC Bank and is going to use euros deposited onto the platform to buy crypto. At this time, User B must also have an ABC Bank debit card to receive euros transferred from the other user to complete the transaction.
4.3. Why do I need to enable 2FA?
In addition to security concerns during login, all users who trade on P2P need to receive payments, release coins, and perform other operations during the buying and selling process. These operations require users to enter a two-factor authentication code to verify that the users themselves are carrying out the transaction.
4.4. Why do I need to complete Identity Verification?
P2P transactions are trades that are carried out directly between two users. After the buyer's and seller's orders are matched, both parties must verify their identities through real-name "KYC", i.e. it must be confirmed that the person sending fiat currency to your account is the same person you matched with on the platform.
5. Is P2P available on the Pexpay website and App?
You can buy and sell cryptocurrencies through Pexpay P2P on pexpay.com on WEB and APP (both on Android & iOS).
6. What are the transaction fees on Pexpay P2P?
Pexpay P2P charges 0 transaction fees from all makers and takers.
7. What is the 30-day completion rate?
30-day order completion rate = 1 - total number of canceled purchase orders in the last 30 days / total number of completed orders in the last 30 days;
If you are the buyer and you canceled a P2P order, this will affect your completion rate, whereas the seller’s completion rate will not be affected.
If you are the seller and the buyer fails to accept the order or does not complete the payment, then only the buyer’s completion ratio will be affected.
Posting ads
1. What is the minimum number of bitcoins per ad I can trade?
You can sell from a minimum of 0.001 BTC to a maximum of 5 BTC (200 BTC for merchants).
For other cryptos:
|
Crypto |
For regular users |
For Merchants |
||
|
Minimum |
Maximum |
Minimum |
Maximum |
|
|
USDT |
100 |
50,000 |
100 |
2,000,000 |
|
ETH |
0.001 |
250 |
0.001 |
5,000 |
|
GMT |
50 |
50,000 |
50 |
500,000 |
|
USDC |
100 |
50,000
|
100 |
1,000,000 |
|
BUSD |
100 |
50,000
|
100 |
2,000,000 |
2. Can I make transactions with users from other countries?
Yes, the set of fiat currencies you can trade is determined by your Identity Verification region. For example, if you and the counter-party are both located in Southeast Asia, then it is highly likely that VND and IDR are available to both of you. Pexpay P2P is also constantly adding more fiat currency choices for users from different regions.
3. How are ad prices being set?
For floating price ads, the price will be adjusted according to the fiat’s exchange rate changes.
For fixed price ads, the price will be fixed and will not change according to the exchange rate.
4. Can I temporarily make my ad unavailable?
Yes. You can edit your ads to take them offline.
5. Will I be notified of a new order?
You will receive SMS, email and APP notifications if you’ve enabled them. To set up, go to [Profile] - [Notifications] to choose the notifications you wish to enable.
6. How can I report fraud?
Please submit fraud activities or scammers by sending a ticket to our Customer Service.
https://pexpay.zendesk.com/hc/en-us/requests/new
Payment
1. How do I pay the seller?
You have to follow the instructions provided on the order detail page and make a transfer to the seller’s account with the indicated payment method. After that, please click [Transferred, notify seller]. Please note that your fiat balance will not be deducted automatically by clicking [Transferred, notify seller], you have to make the transfer yourself.
2. How many payment methods can I link to my account?
You can activate up to 20 payment methods. Please note that you have to enable the payment methods before posting ads or taking orders. If you are posting ads, you can only show 5 different payment methods on a single ad.
3. Can I use someone else's account as a payment method?
No. For security reasons, we only allow accounts with the exact same name as your Identity Verification. If there is a mistake in the verified name, you will have to contact customer support to correct it before you can add the payment methods correctly.
If you use another person’s bank/payment account to pay the sellers, your P2P activities may face a 15-day sanction period. You might be permanently banned from P2P trading if you receive 3 warnings from the CS Team.
4. What is a "payment window"?
The payment window is usually pre-set by the maker. When posting ads, makers can choose how long they would like to receive/make payment, ranging from 15 minutes - 6 hours (depending on the fiat currency).
Account-related
1. How do I set/change my nickname?
You cannot change the nickname once it has been set.
2. What does the purple badge next to the user's nickname mean?
The purple badge differentiates Verified Merchants from regular users.
3. What are the requirements for becoming a merchant?
The basic requirements for becoming a merchant program are solid trading history and large trading volume. Applications are reviewed by the P2P team according to internal algorithms and regional requirements.
Click to download the latest iOS/ Android APP
Pexpay takes compliance obligations seriously and strictly complies with the relevant requirements of local regulatory bodies. Please ascertain whether you are permitted to the service based on the legal requirements in your country of residence.