FAQs

Peer-to-peer (P2P) trading is also known as "customer-to-customer" trading in some regions. Users can directly buy and sell cryptocurrency through P2P trading on the UcbitEX P2P platform. As a facilitator of trading, UcbitEX provides a channel for buyers and sellers to publish quotes, and online digital asset custody services ensure that digital assets can be delivered safely and timely during transaction execution.

All online transactions are protected by escrow. After the advertisement is published, the corresponding amount of Cryptocurrency will be automatically reserved from the seller's fund wallet. In other words, if the seller does not release the currency, our customer service staff can pay the reserved Cryptocurrency to the buyer. Before confirming receipt of the buyer's payment, the seller must not release Cryptocurrency. Please note that some payment methods used by the buyer do not support real-time payment, and there may be a risk of withdrawal of funds.

On the one hand, it is for security reasons during login, and on the other hand, all users who conduct P2P transactions must perform payment collection, release Cryptocurrency, and other operations during the buying and selling process. These operations require users to enter a dual identity verification code to ensure that the user is the one executing the transaction.

The quotes displayed on the UcbitEX P2P market are not provided by UcbitEx. UcbitEX is only a platform that facilitates P2P transactions, and quotes are provided by individual users.

All UcbitEX users need to complete identity authentication before using UcbitEX's products and services, including P2P transactions. Before starting P2P transactions, you must enable SMS verification and at least one type of 2FA authentication (email, UcbitEX/Google authenticator, or security key).

P2P transactions are conducted directly between two users. After matching the orders of the buyer and seller, both parties must verify their identities through real-name "identity authentication" (KYC).