Crypto Selling 101
Important notes:
To enhance your P2P trading experience and account security, please avoid clicking the “Send Authentication Code” button repeatedly in a short period of time. Frequent actions may result in not receiving the authentication code. We recommend waiting 10 minutes before trying again. If you have ported your number to a new carrier, you may encounter issues receiving the authentication code. Please contact customer service to explain your situation. For more details, please refer to: What should I do if I can't receive the authentication code? Before conducting P2P trading, we recommend you carefully read the OKX P2P Trading Rules.
1. Preparations before selling coins
Before selling digital assets, you need to complete the following 3 items
Complete identity verification;
Bind email and phone number;
Bind at least one payment method, such as a bank card, WeChat, or Alipay. You can also choose multiple payment methods at the same time.
2. Payment procedures and important notes
Q: How do I receive payments?
Please set up your receiving account before accepting payments (you can refer to the article How to Bind Payment Methods). The payer will make the payment according to your receiving account information. After payment, they will mark the order as 'Buyer has paid.' At this point, you need to check your receiving account to confirm if you have received the funds. If you have received the payment, click 'I have received the transfer,' and the platform will release your crypto to the other party.
Q: What should I pay attention to when receiving payments?
After the other party has made the payment, please log in to your recipient account to confirm that you have received the transfer. During this period, do not trust any payment SMS messages, transfer screenshots sent by the other party as proof, or anyone claiming to be customer service asking you to release digital assets. At any time, if you have not received the payment from the other party, do not click 'I have received the payment.'
Q: Can I use a non-real-name payment method to receive payments?
According to platform regulations, Lite users must use a payment method that matches their verification when receiving payments. This means you cannot use someone else's payment code or a non-verification payment method to receive funds. This rule is in place to ensure the security and compliance of transactions. However, if you are a platform Merchant, the platform allows the use of non-verification payment methods.
Note: You must ensure that the real-name information of the payment account matches the platform's verification information. You cannot use someone else's account to make payments.
3. Three methods of transaction
Quick Access Area
Quick Zone is a "one-stop" way for customers seeking convenience to buy or sell cryptocurrencies, automatically matching you with the best prices for crypto assets currently available on the peer-to-peer marketplace.
Favorites
Favorites Zone is a peer-to-peer marketplace that allows users to buy and sell digital assets using fiat currency, such as BTC, ETH, and other crypto assets, directly between users. To complete a transaction, users need to transfer or receive funds directly using their preferred payment app.
VIP Exclusive Zone
VIP Exclusive Zone is a dedicated transaction area provided by the platform exclusively for official VIP customers, mainly serving the transaction needs of VIP customers, with a maximum frozen protection of 200,000 USDT.
4. FAQ about Selling Crypto
Q: The other party clicked 'Transfer Completed', but I still haven't received the transfer. What should I do?
If the other party clicks 'I have completed payment' and you have not received the funds after 5 minutes, you can submit a dispute.
If the other party does not follow the rule of transferring funds before clicking 'Transferred', or if the transfer does not arrive in your account within 1 hour, you may choose to raise a dispute. Never click 'I have received payment' casually to avoid financial loss.
Q: The other party keeps urging for the release crypto?
Before clicking 'I have received payment' to release the funds, please make sure to check your recipient account (such as your bank card, etc.) to confirm that you have received the payment from the other party.
If you have not received the payment, please do not release the funds and communicate with the other party in the chat window.
Q: How do I cancel a sell order?
In a sell transaction, the seller cannot cancel an already generated order on their own. Each order has a specific payment waiting period. If the buyer does not make the payment within this period, the order will be automatically canceled due to timeout. If you need to cancel the order, you must contact the buyer online and request them to cancel it. If the buyer has already made the payment, the transaction cannot be canceled.