How to buy crypto on OKX P2P Trading?

 Common FAQ    |      2022-08-30

1. How to get started?

First, complete your OKX account registration by verifying your email and mobile.

Then, complete your identity verification here.

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

OKX offers three levels of identity verification:

  • Level 1 – Personal info verification

  • Level 2 – Photo verification

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


2. How to buy crypto?

There are two ways of buying crypto in P2P trading:

  1. Find an ad at your preferred rate in the marketplace
  2. Create your own ad in the marketplace


3. How to pay the seller after I placed an order?

Once you have placed an order, follow the payment instructions provided by the seller.

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

Ensure all payment details are correct before making the payment.

After you have completed your payment, don’t forget to tap Payment Completed on the order.

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


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

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

  1. Complete your payment before the payment window closes. You can find the payment timer in the order details.
  2. To speed up your payment process, please use an instant payment method.
  3. Only click 'Payment Completed' after you have made the payment. Otherwise, your order will be automatically cancelled and you may not be able to receive your crypto.
  4. Your payment account holder's name must be identical to your OKX account name.
  5. Do not add any crypto related remarks (e.g., crypto, BTC, USDT, etc.) in the payment message when making the payment.


5. Can I cancel an order?

Yes, you can cancel an order by clicking 'Cancel Order' in the order details.

We recommend you not to cancel the order if you have paid the seller and the seller did not release the crypto. Cancelling the order will not automatically return the payment that you have sent. Please reach out to the seller via the 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 is a limit on the number of orders you can cancel within a day. If you have reached the limit, you will not be able to place orders within a certain time frame.


6. What do I do if my payment cannot be completed because of a bank/wallet     

     account issue of the seller?

Since the payment happens on your banking/wallet app outside of OKX, you will 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 cannot resolve the payment issues between the two parties, it is best to cancel the order and find another advertiser where you can complete the payment.


7. 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 will 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 have completed payment by clicking 'Payment Completed' in the order details before the order expires. (A lot of buyers tend to forget this step ☺️)
  3. Wait for the seller to release the crypto once they have confirmed that they have received the payment.
  4. Once the seller clicks 'Release Crypto', the crypto will be instantly deposited in your Funding Account.

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


8. What should I do if the seller doesn’t release the crypto after I have completed

     the payment?

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

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

  1. Check that the payment has been successfully processed by your banking/wallet app. Take a screenshot of the payment details as payment proof.
  2. Make sure 'Payment Completed' is clicked 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.
  3. If you have clicked 'Payment Completed' before the order expired, you can click 'Remind Seller' and upload your payment proof to remind the seller to release the crypto.
  4. 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!


9. What happens if I cancel the order after I have made the payment?

Cancelling the order will NOT automatically return the payment that you have sent. Please reach out to the seller via the 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 have not received the crypto, submit a dispute with a payment proof and OKX will provide assistance.


10. Are there any service fees on P2P trading?

There are no service fees on OKX P2P trading. However, there might be bank/wallet charges when you make the payment with the preferred payment method outside of OKX.


A step-by-step guide to purchasing and selling crypto on OKX,

Step 1: Log in to your OKX account
Before you can start buying or selling cryptocurrency on OKX, you must first log in to your OKX account. If you do not yet have an account, click Sign up and complete the registration process.
Step 2: Select Buy/Sell
Once you have logged in to your OKX account, click Buy Crypto in the upper left-hand corner of the screen to get started.
Step 3: Select your purchasing method
The next step is to choose how you would like to buy or sell . There are two primary options on OKX: Express and P2P trade.

Finally, simply confirm your transaction details.

Sign up and log in with the App to claim your Mystery Box worth up to $10,000