XT Exchange

Q&A about P2P transactions

How to Fiat/P2P deposit

1. What is a fiat currency transaction?

The exchange between a fiat currency and a digital currency is called a fiat currency transaction.

 

2. What is an advertisement?

An advertisement is a user-posted demand to buy or sell a digital currency.

 

3. What is an advertiser?

The user who publishes the advertisement is called the advertiser.

 

4. What is release?

The selling party releases the digital currency to the counterparty after receiving the money.

 

5. How to transfer

Click Wallet or Assets, in the corresponding assets with digital currency, click Transfer, select the wallet and amount you want to transfer to, and confirm the transfer.

 

6. What is appeal?

When there is a disagreement or dispute between the user and the counterparty, they can click the appeal button to initiate an appeal and the platform customer service will intervene.

 

7. Cancellation of appeal

When the user and the counterparty have differences or disputes and initiate an appeal, after the two parties reach an agreement, the initiator can cancel the appeal, and the order will return to the pending state, which will not be cancelled; if the users on both sides are not in contact, and the initiator can provide valid evidence, the appeal will be handled by the platform.

 

8. How to advertise?

Eligible users, click the Publish Advertisement button, select the trading market, transaction amount, transaction price, and payment method, and then submit and publish.(Reference: How to Publish A Trading Ad?)

 

9. How to become a merchant

You can become a merchant only after you have certain assets and submit an application to the platform. After completing the verification, you can become a merchant. (Reference: How to apply to become a fiat currency trading merchant?)

 

10. What is the T+1 limit?

After users purchase digital currency in the P2P trading zone, it takes 24 hours before they can withdraw to addresses outside the Exchange. During this period, user transactions and other businesses will not be affected.(Note: If the account has an equivalent amount of purchased assets, the withdrawal will not be subject to the 24-hour time limit.)

"T+1" advantage:

  1. Effectively prevent the withdrawal of illegal funds;
  2. Prevent black money from flowing into the platform to the greatest extent possible;
  3. Reduce the risk of cards freezing and ensure transaction security.

 

11. What is order freezing?

In order to ensure the normal operation of transactions, when the user sells the digital currency, the platform will freeze the corresponding amount of the digital currency in the order.

 

12. Why do I need to add a payment method?

The user needs to receive payment during the transaction process; therefore, a payment method is required.

 

13. Why is the price invalid?

When the user confirms the order, the price on the advertisement is changed by the advertiser due to market fluctuations, which causes the price to become invalid. The user needs to refresh and place the order again.

 

14. Eligibility for fiat currency trading

Bind phone number and complete KYC certification.(Withdrawal: LV1: 500 USDT/day; LV2: 500,000 USDT/day)

 

15. What is advertising floating price?

The price will fluctuate according to the market price.

 

16. What is advertising fixed price?

The price set by the advertiser independently will not fluctuate according to the market price.

 

17. What is a price floating index?

The floating percentage is based on the market price premium to either buy above the market price or sell below the market price to attract more traders.
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