P2P buy crypto FAQ

How to get started

1. Complete your OKX account registration by verifying your email and mobile.

2. Complete your identity verification here. By verifying your identity with us, you can help create a safe ecosystem to trade on OKX.

Once your account is all set, you're ready to buy and sell crypto in the P2P marketplace.

FAQ

1. How can I buy crypto?

There are two ways of buying crypto in P2P trading:

• Find an ad at your preferred rate in the marketplace.

• Create your own ad in the marketplace.

• For more details on the process, refer here.

2. How can I pay the seller after placing an order?

Follow the order below on how to process the payment to the seller:

1. Once you've placed an order, follow the payment instructions provided by the seller.

2. Make a payment to the seller with your preferred banking/wallet app.

3. Ensure all payment details are correct before making the payment.

4. After you've completed your payment, don’t forget to select Payment Completed on the order.

5. The crypto will be sent to your Funding Account once the seller confirms your payment is received.

3. Any tips to ensure smooth and successful payment to the seller?

Here are some tips to ensure smooth payment to the seller:

• Complete your payment before the payment window closes. You can find the payment timer in the order details.

• To speed up your payment process, please use an instant payment method.

• Only select Payment Completed after you've made the payment. Otherwise, your order will be automatically cancelled and you may not be able to receive your crypto.

• Your payment account holder's name must be identical to your OKX account name.

• Don't add any crypto-related remarks (e.g., crypto, BTC, USDT, etc.) in the payment message when making the payment.

4. Can I cancel an order?

Yes, you can cancel an order by selecting the Cancel Order option in the order details.

We recommend you not to cancel the order if you've paid the seller and the seller didn't release the crypto. Cancelling the order will not automatically return the payment that you've sent and you might lose your funds. Please reach out to the seller via OKX chat or contact customer service for support if you want to cancel the order and see if you can retrieve the payment that was transferred.

There's a limit on the number of orders you can cancel within a day. If you've reached the limit, you'll not be able to place orders within a certain time frame.

5. What should I do if my payment can't be completed because of a bank/wallet account issue with the seller?

Since the payment happens on your banking/wallet app outside of OKX, you'll need to contact your seller via the OKX chat for assistance. You can find the chat icon in the order details and request the seller for another payment account.

In the event where you can't resolve the payment issues between the two parties, it's best to cancel the order and find another merchant where you can complete the payment.

6. When will I receive the crypto after completing the payment?

Once an order is placed, OKX will lock the crypto until the order is completed.

You'll receive the crypto as soon as the following steps are completed:

1. Complete the payment with your preferred banking/wallet app.

2. Notify the seller that you've completed payment by selecting Payment Completed in the order details before the order expires.

3. Wait for the seller to release the crypto once they've confirmed that they've received the payment.

4. Once the seller selects Release Crypto, the crypto will be instantly deposited in your Funding Account.

If you've completed step 1 and 2, and your seller hasn't responded after a reasonable amount of time, you can remind your seller to release the crypto by selecting the Remind Seller button in the order details.

7. What should I do if the seller doesn’t release the crypto after I've completed the payment?

To avoid payment delays, it's important for you to select a payment method that's real-time.

There are a couple of things you can check before taking further actions:

• Check that the payment has been successfully processed by your banking/wallet app. Take a screenshot of the payment details as payment proof.

• Make sure Payment Completed is selected before the order expires. If the order has expired, you can submit a dispute with a screenshot of your payment proof. OKX will handle the case for you.

• If you've selected Payment Completed before the order expires, you can select Remind Seller and upload your payment proof to remind the seller to release the crypto.

• You can contact the seller via the OKX chat in the order details.

If you still encounter issues, please submit a dispute with the payment proof and a summary of your problem. OKX is here to help!

8. What happens if I cancel the order after I've made the payment?

Cancelling the order will not automatically return the payment that you've sent. Please reach out to the seller via OKX chat or contact customer service for support if you want to cancel the order and see if you can retrieve the payment that was transferred.

If the seller refuses to return the payment and you've not received the crypto, submit a dispute with a payment proof and OKX will provide assistance.

9. Are there any service fees for P2P trading?

OKX charges zero fee on P2P trading. However, there might be bank/wallet charges when you make the payment with the preferred payment method outside of OKX.