Step 1. Preparations
Before starting the OTC trading, please complete the KYC verification and bind the payment method as required, you can find this item in the Settings page from the navigation bar.
In order to protect both parties from financial risks, we require buyers and sellers to use real-name and bound payment method.
Step 2. Open the OTC Trading Floor
- In the navigation bar of the website, find the “OTC” button and click to enter the OTC trading floor;
- At the top of the page, you can filter the trading type,
cryptocurrency type, and fiat type;
- By filtering the target amount, location, or payment method, the system will list ads that meet your requirements automatically;
- Target amount: 0.5 BTC;
- Fiat Currency type: USD;
- Location: United States;
- Payment: PayPal;
Step 3. Select an ad and create an order
- Each advertisement displays the price, amount, purchase limit, supported payment methods. So that you can find the most reputable Buyer and the best price.
- Select an advertisement and click “Sell BTC“. You can see the remarks left by the Buyer. Please observe the Buyer’s remarks carefully.
- In the details of the ad expansion dialog, enter the amount of fiat currency or cryptocurrency purchased and confirm the price, and then click “Sell BTC” to create an order to the Buyer.
In this example:
I need to enter “0.5″ BTC in the “You Sell” box and click “Sell BTC” to create a new order.
Step 4. Waiting for payment
- After placing an order, you will enter the order details page. The page shows the amount of fiat currency that the Buyer needs to pay you and the payment method of the Buyer.
- In the chatbox of the page, you can discuss the specific details of the order or handle some special situations with the Buyer.
- Please be patient and wait for the payment. Every order has a countdown to the validity period. If the Buyer has not marked the order as “Please check the payment” at the end of the countdown, the order will be canceled by the system and your 0.5 BTC will automatically unlock to your account again.
Please rest assured that your cryptocurrency will be locked on the platform until you confirm to release the cryptocurrency to the Buyer.
Step 5. Check the payment and complete the order.
- After the Buyer completes the payment, please check whether the Buyer’s payment has been received.
- Please carefully verify whether the amount and the Buyer’s real-name information are consistent with the page display. If it’s not, please confirm with the Buyer, or initiate an appeal so that the customer service can help you solve the problem.
- After confirming receipt of the payment, please click “Confirm And Release” in time. This will release your Buyer from the locking status to the Buyer and complete the order.
In this example:
I need to check my PayPal account to confirm whether I have received 500 USD from the Buyer’s PayPal account. “And then, I need to click” Confirm And Release