1. What is USDT?
USDT is a stablecoin pegged to the US Dollar, issued by Tether.
2. What is P2P Trading?
P2P trading, also known as fiat trading, involves buying, selling, or trading digital assets using legal tender. Its advantage is the quick conversion between digital assets and fiat currency.
3. Difference between Quick Trade and Select Trade?
Quick Trade automatically matches orders based on user conditions. Select Trade allows users to choose their preferred trading counterparty.
4. How to Buy/Sell USDT?
Please refer to: User Guide (Web), User Guide (APP).
5. Are the prices on the platform provided by CoinW?
No. The prices displayed are not provided by CoinW. CoinW is a platform facilitating trades, and the prices are provided by individual users.
6. What are CoinW's fees?
Currently, standard CoinW OTC trading fees are 0%. However, some third-party payment methods may charge additional fees.
Preparing to Trade
7. Fiat Trading Eligibility
Bind a mobile phone number and complete identity verification.
8. Can I trade without identity verification? What do I need before C2C trading?
All CoinW users must complete identity verification to use CoinW's products and services. Go to [User Center] - [Identity Verification] to set your bound mobile number, nickname, and payment methods.
9. How many payment methods can I bind to my account?
There is no limit. You can bind them according to your needs.
10. Which bank cards are supported by the platform?
Currently, the vast majority of banks are supported.
Payment
11. How to pay a merchant?
After the order is created, confirm the payment method and click "Go to Pay". Use the merchant's provided payment details to complete the payment via your payment app. After payment, return to the app, click "Payment Completed", then "Confirm Payment". Once the merchant confirms receipt, the system will automatically transfer the crypto to your fiat account.
12. I made the payment, but why haven't I received the crypto?
First, check if the corresponding USDT has arrived in your fiat account. If confirmed not received, click "Contact Merchant" on the order page to explain the situation promptly. If there's no response for an extended period, click the "Appeal" button. The platform will resolve your issue as soon as possible.
13. What is the "Payment Time Limit"?
The payment time limit is usually preset by the merchant when creating the ad, typically ranging from 5 to 60 minutes. After completing the payment, click "Payment Completed" promptly so the merchant can release the crypto.
14. Why does the order show timed out after I paid? Can I get the crypto or a refund?
Click "I Have Paid" after successful payment. If you didn't click "I Have Paid" within the payment time limit, contact the merchant immediately to resolve it or file an appeal, providing proof of payment. The platform will assist in handling the matter.
15. I clearly made the payment, why does the merchant say they didn't receive it?
Transfer times can vary between banks, potentially causing delays for large amounts. Please communicate with the merchant first.
16. Can I use someone else's account to make the payment?
No. For security reasons, when adding a new payment method, we only allow the verified name from your identity verification as the account owner's name. If the verified name is incorrect, contact customer support to modify it before correctly adding the payment method.
17. I haven't paid, but accidentally clicked "Payment Completed". What should I do?
Please double-check that you haven't made the payment. Once confirmed, you can request to cancel the order. We are not responsible for any losses caused by this error. Please confirm carefully during transactions.
18. How to transfer funds?
If you need to conduct spot trading, you must manually transfer funds from your "Buy Crypto" account to your "Spot Trading" account.
Receiving Funds
19. Why do I need to add a payment method?
It is required for receiving payments during transactions.
20. How to set up payment methods?
Please refer to: Guide for Setting Up Fiat Payment Methods.
21. What if I entered wrong payment details or want to change my payment method?
In the interface where you manage your bound payment methods, you can directly modify or delete existing methods, then bind the correct ones.
22. Can I use a payment method under someone else's name?
Currently, using bank cards/e-wallets under another person's name is not supported. You must use your own bank card/e-wallet for payment.
23. When selling crypto, do I need to confirm the release?
Yes. Please click "Release" - "Confirm Release" only after confirming you have received the merchant's payment.
24. Why does it show insufficient balance when I try to sell crypto?
You need to first transfer your USDT to your fiat account. Ensure your fiat account has sufficient balance when entering the order amount.
Transaction Security
25. What is the T+2 restriction?
After purchasing digital assets in the Select Trade zone, users must wait 48 hours before they can withdraw those assets.
26. How does the platform protect traders like me?
All online trades are escrow protected. When an ad is posted, the system pre-emptively deducts the corresponding amount of cryptocurrency from the seller's wallet and holds it in escrow. This means if a seller absconds with the payment and refuses to release the asset, the platform can use the escrowed crypto to compensate the buyer.
If you are the seller, do not release the cryptocurrency until you have confirmed receipt of the buyer's payment. Note that some payment methods used by buyers are not instant and carry the risk of payment being revoked.
27. What is an appeal?
When a user and their counterparty have a disagreement or dispute, either party can click the "Appeal" button to initiate a case. Platform customer service will then intervene.
28. Are your merchants reliable?
Our merchants have all paid a security deposit and passed our rigorous screening process. Please trade with confidence. Contact our online customer service for any issues.
29. I transferred payment to a merchant, they didn't release the crypto, and they said the payment didn't arrive because I didn't follow the procedure, leading to frozen funds. What should I do?
If you did not transfer to the specified merchant account, causing non-receipt, consult with the merchant about the situation and negotiate. If you sent funds to a frozen card, you need to negotiate a solution with the merchant. If the merchant provides a resolution plan, we advise waiting patiently. If the merchant fails to resolve it within the agreed time, contact online customer service. We will communicate with the merchant again regarding your issue.
30. I want to make a suggestion/report fraudulent activity. How can I get in touch?
Please send an email to [email protected]. The email must include the order number, your UID, and attach screenshot evidence if possible. Describe the entire process in detail. We will do our utmost to help resolve the issue you encountered.
Other
31. Why does it prompt "No ads available"?
Merchants can set minimum requirements for their ads. These might include requiring users to have completed one previous fiat purchase transaction more than 24 hours ago, completed real-name verification, or bound a mobile number. The specific requirements depend on the merchant's ad settings.
You can meet these minimum requirements first, contact the merchant to adjust their ad requirements, or click "Select Trade" to choose a merchant whose requirements you meet.
32. Can I trade with users from other countries/regions?
Yes. The range of supported fiat currencies for a trade is determined by the countries/regions associated with the users' identity verification. For example, if you and a foreign user are both located in Southeast Asia, you might use Vietnamese Dong and Malaysian Ringgit for the transaction.
1. What is USDT?
USDT is a stablecoin pegged to the US Dollar, issued by Tether.
2. What is P2P Trading?
P2P trading, also known as fiat trading, involves buying, selling, or trading digital assets using legal tender. Its advantage is the quick conversion between digital assets and fiat currency.
3. Difference between Quick Trade and Select Trade?
Quick Trade automatically matches orders based on user conditions. Select Trade allows users to choose their preferred trading counterparty.
4. How to Buy/Sell USDT?
Please refer to: User Guide (Web), User Guide (APP).
5. Are the prices on the platform provided by CoinW?
No. The prices displayed are not provided by CoinW. CoinW is a platform facilitating trades, and the prices are provided by individual users.
6. What are CoinW's fees?
Currently, standard CoinW OTC trading fees are 0%. However, some third-party payment methods may charge additional fees.
Preparing to Trade
7. Fiat Trading Eligibility
Bind a mobile phone number and complete identity verification.
8. Can I trade without identity verification? What do I need before C2C trading?
All CoinW users must complete identity verification to use CoinW's products and services. Go to [User Center] - [Identity Verification] to set your bound mobile number, nickname, and payment methods.
9. How many payment methods can I bind to my account?
There is no limit. You can bind them according to your needs.
10. Which bank cards are supported by the platform?
Currently, the vast majority of banks are supported.
Payment
11. How to pay a merchant?
After the order is created, confirm the payment method and click "Go to Pay". Use the merchant's provided payment details to complete the payment via your payment app. After payment, return to the app, click "Payment Completed", then "Confirm Payment". Once the merchant confirms receipt, the system will automatically transfer the crypto to your fiat account.
12. I made the payment, but why haven't I received the crypto?
First, check if the corresponding USDT has arrived in your fiat account. If confirmed not received, click "Contact Merchant" on the order page to explain the situation promptly. If there's no response for an extended period, click the "Appeal" button. The platform will resolve your issue as soon as possible.
13. What is the "Payment Time Limit"?
The payment time limit is usually preset by the merchant when creating the ad, typically ranging from 5 to 60 minutes. After completing the payment, click "Payment Completed" promptly so the merchant can release the crypto.
14. Why does the order show timed out after I paid? Can I get the crypto or a refund?
Click "I Have Paid" after successful payment. If you didn't click "I Have Paid" within the payment time limit, contact the merchant immediately to resolve it or file an appeal, providing proof of payment. The platform will assist in handling the matter.
15. I clearly made the payment, why does the merchant say they didn't receive it?
Transfer times can vary between banks, potentially causing delays for large amounts. Please communicate with the merchant first.
16. Can I use someone else's account to make the payment?
No. For security reasons, when adding a new payment method, we only allow the verified name from your identity verification as the account owner's name. If the verified name is incorrect, contact customer support to modify it before correctly adding the payment method.
17. I haven't paid, but accidentally clicked "Payment Completed". What should I do?
Please double-check that you haven't made the payment. Once confirmed, you can request to cancel the order. We are not responsible for any losses caused by this error. Please confirm carefully during transactions.
18. How to transfer funds?
If you need to conduct spot trading, you must manually transfer funds from your "Buy Crypto" account to your "Spot Trading" account.
Receiving Funds
19. Why do I need to add a payment method?
It is required for receiving payments during transactions.
20. How to set up payment methods?
Please refer to: Guide for Setting Up Fiat Payment Methods.
21. What if I entered wrong payment details or want to change my payment method?
In the interface where you manage your bound payment methods, you can directly modify or delete existing methods, then bind the correct ones.
22. Can I use a payment method under someone else's name?
Currently, using bank cards/e-wallets under another person's name is not supported. You must use your own bank card/e-wallet for payment.
23. When selling crypto, do I need to confirm the release?
Yes. Please click "Release" - "Confirm Release" only after confirming you have received the merchant's payment.
24. Why does it show insufficient balance when I try to sell crypto?
You need to first transfer your USDT to your fiat account. Ensure your fiat account has sufficient balance when entering the order amount.
Transaction Security
25. What is the T+2 restriction?
After purchasing digital assets in the Select Trade zone, users must wait 48 hours before they can withdraw those assets.
26. How does the platform protect traders like me?
All online trades are escrow protected. When an ad is posted, the system pre-emptively deducts the corresponding amount of cryptocurrency from the seller's wallet and holds it in escrow. This means if a seller absconds with the payment and refuses to release the asset, the platform can use the escrowed crypto to compensate the buyer.
If you are the seller, do not release the cryptocurrency until you have confirmed receipt of the buyer's payment. Note that some payment methods used by buyers are not instant and carry the risk of payment being revoked.
27. What is an appeal?
When a user and their counterparty have a disagreement or dispute, either party can click the "Appeal" button to initiate a case. Platform customer service will then intervene.
28. Are your merchants reliable?
Our merchants have all paid a security deposit and passed our rigorous screening process. Please trade with confidence. Contact our online customer service for any issues.
29. I transferred payment to a merchant, they didn't release the crypto, and they said the payment didn't arrive because I didn't follow the procedure, leading to frozen funds. What should I do?
If you did not transfer to the specified merchant account, causing non-receipt, consult with the merchant about the situation and negotiate. If you sent funds to a frozen card, you need to negotiate a solution with the merchant. If the merchant provides a resolution plan, we advise waiting patiently. If the merchant fails to resolve it within the agreed time, contact online customer service. We will communicate with the merchant again regarding your issue.
30. I want to make a suggestion/report fraudulent activity. How can I get in touch?
Please send an email to [email protected]. The email must include the order number, your UID, and attach screenshot evidence if possible. Describe the entire process in detail. We will do our utmost to help resolve the issue you encountered.
Other
31. Why does it prompt "No ads available"?
Merchants can set minimum requirements for their ads. These might include requiring users to have completed one previous fiat purchase transaction more than 24 hours ago, completed real-name verification, or bound a mobile number. The specific requirements depend on the merchant's ad settings.
You can meet these minimum requirements first, contact the merchant to adjust their ad requirements, or click "Select Trade" to choose a merchant whose requirements you meet.
32. Can I trade with users from other countries/regions?
Yes. The range of supported fiat currencies for a trade is determined by the countries/regions associated with the users' identity verification. For example, if you and a foreign user are both located in Southeast Asia, you might use Vietnamese Dong and Malaysian Ringgit for the transaction.