At OKX, we are deeply committed to maintaining a secure and trustworthy trading environment for our entire community. Our robust Anti-Money Laundering (AML) and account verification frameworks are fundamental to this mission. This guide outlines the essential rules and best practices for using the OKX Peer-to-Peer (P2P) trading platform.
Core Principles for All Users
Whether you are buying or selling, adhering to these foundational principles is crucial for a safe and efficient trading experience.
- Account Ownership: You must use a trading account that is legally registered in your own name. This is a non-negotiable requirement for AML compliance.
- Integrity is Key: Always act with honesty and integrity in all your transactions.
- Ad Responsibility: You are solely responsible for the advertisements you post. Always double-check the price and quantity before publishing an ad.
- Timely Completion: It is your responsibility to complete transactions within a reasonable timeframe. This includes making fiat payments and releasing cryptocurrency assets.
- Respect Transaction Rules: Do not cancel orders arbitrarily. Always attempt to resolve any issues with your trading counterparty using the in-app chat function on the order page.
- Security Awareness: OKX will never ask you for your personal information, Google Authenticator code, or password. Official communication from OKX will only come through our official email domains (@okx.com) and via the in-app chat.
- Use In-App Chat: We strongly advise conducting all communications within the in-app chat. These logs serve as vital evidence should a dispute arise.
To foster a secure and well-regulated P2P trading marketplace, we have established the following specific rules for buyers and sellers.
Guidelines for Buyers
As a buyer, your primary responsibility is to fulfill your payment obligations correctly and promptly.
- Use Specified Payment Methods: You may only use the specific fiat payment method detailed in the P2P market advertisement you are responding to.
- Complete Payment Promptly: Please complete your payment within the time limit set by the seller and then mark the order as "Payment Completed." Orders that exceed the time limit will be automatically canceled.
- Canceling Unpayable Orders: If a seller has not provided a valid payment method and you are unable to complete the payment, you may cancel the order. Be aware that this may affect your order completion rate, though you can submit evidence to customer support to request an update. Only the buyer can initiate a cancellation.
- Do Not Falsify Completion: Never select "Payment Completed" if you have not actually sent the payment. This behavior is considered fraudulent and will lead to the temporary suspension of your account.
- Use a Verified Account: You must use a valid bank account or e-wallet registered in your full name, which must match the name on your OKX account, to make payments.
- Prefer Fast Transfer Methods: It is best to choose payment options that offer instant or rapid fund transfers. Using methods like international wire transfers can cause significant delays in finalizing transactions.
- Avoid Cryptocurrency References in Payment Notes: Do not include a message in your payment transfer receipt unless absolutely necessary. If a note is required, strictly avoid using keywords such as cryptocurrency, BTC, USDT, OKX, order number, or please release crypto. These terms can trigger payment delays with financial intermediaries.
- No Bots or Scripts: Attempting to use any code, bots, or scripts to target large-spread P2P trading orders will result in account suspension.
- The Escrow Process: OKX holds the seller's cryptocurrency in escrow until the transaction is complete. If the seller does not release the crypto within a reasonable period after you have paid and marked the order as complete, you have the right to raise a dispute. Our team will assist in resolving disputes if you can provide proof of payment.
- Cash-in-Person Payments: If you select "Cash-in-Person" as your payment method, please note that our customer service has no means of independently verifying the validity of such a payment.
For a streamlined and secure trading experience, it's crucial to use a platform that provides robust escrow and dispute resolution. 👉 Explore secure P2P trading strategies
Guidelines for Sellers
As a seller, your focus should be on providing clear payment instructions and reliably releasing crypto upon receiving valid payment.
- Honor Your Advertised Methods: You may only accept the specific fiat payment method detailed in the advertisement you published on the P2P platform.
- Verify Your Details: Double-check all your payment details (e.g., bank account number, recipient name) before creating a sell advertisement. If a buyer pays using incorrect information that you provided, you are still obligated to fulfill the order.
- Handle Account Discrepancies: If there is a mismatch between the buyer's payment account details and the information registered on their OKX profile, attempt to reach an agreement with the buyer via the in-app chat. If an agreement cannot be reached, raise a dispute for customer support to intervene and resolve the matter.
- Do Not Change Payment Methods: The buyer will pay using the exact payment method you provided to OKX. If you change your payment method after a buyer has placed an order, the buyer retains the right to cancel the order.
- Canceling Orders: Do not ask customer service to cancel orders. If you wish to cancel an order, first try to reach a mutual agreement with the buyer. If payment has already been made, you must arrange for the refund before canceling the order on the platform.
- Raise a Dispute for Deadlocks: If you cannot reach the buyer or if both parties cannot agree, raise a dispute and allow customer service to settle it. To strengthen your case, prepare all relevant payment transfer documents for submission.
- Manage Your Availability: As a seller, you are responsible for responding to transactions in a timely manner. If you will be offline, remember to hide all your advertisements from the P2P market by toggling your "Online Status" button to offline. This will not affect your advertisement ranking.
Final Provisions
Note: These P2P trading guidelines do not apply to users in Mainland China. In the event of any discrepancy or inconsistency between the English version and translations of this P2P trading guide, the English version shall prevail. For any dispute, the decision of OKX customer support is final and conclusive.
Frequently Asked Questions (FAQ)
Q: What should I do if a seller hasn't provided a working payment method?
A: If you cannot complete the payment due to an invalid method from the seller, you can cancel the order. Be sure to communicate this in the chat and note that you may need to provide evidence to customer support to maintain your completion rate.
Q: Why is it important to avoid certain words in my payment note?
A: Banks and payment processors may flag or delay transactions that contain keywords associated with cryptocurrency. To ensure your payment is processed quickly, keep the note field blank or use very generic terms if required.
Q: How long does a seller have to release my cryptocurrency after I've paid?
A: Sellers are expected to release the crypto promptly after you mark the order as "Payment Completed." If an unreasonable amount of time passes without action, you should immediately raise a dispute through the order page and provide your proof of payment.
Q: As a seller, what happens if I make a mistake in my payment details?
A: You are responsible for the accuracy of the information in your ad. If a buyer pays using the incorrect details you provided, you are still obligated to fulfill the order. Always verify your information before posting an advertisement.
Q: What is the best way to protect myself in a transaction?
A: Always use the OKX escrow service and conduct all communication within the official in-app chat. This creates a verifiable record. Never release cryptocurrency without confirming receipt of payment in your bank account. 👉 Learn more about advanced trading security
Q: Who has the final say if a dispute arises?
A: OKX customer support will review all provided evidence from both parties—such as chat logs and payment receipts—and make a final, binding decision to resolve the dispute based on the platform's rules.