Here’s What New Users Need to Know About Trading on the KuCoin Exchange: Part Three

By Justino | An Angle of Truth | 8 Sep 2021


Here’s What New Users Need to Know About Trading on the KuCoin Exchange: Part Three

In this third series, we focus on P2P (Peer-2-Peer). Shall we start with some tips about KuCoin P2P trade introduction and coin purchasing via Credit or Debit Cards? Awesome.

Process of Transactions

Before processing a P2P trade on KuCoin, your phone number binding, Trading Password and KYC are required.

  • Payment Method Binding
  1. Enter the interface of Buy Crypto - Other - Payment Settings
  2. Click Add.
  3. Choose the payment method (bank transfer and 20+ options), fill out your payment information to complete the payment setting, which is used for the sell order when you want to process the cryptocurrency to fiat steps. Users can still process the buy crypto orders without finishing the payment method binding. 

Tip:

For KYC customers, the system will match your name in the KYC information. Bond the payment method with the accounts whose name is the same as your KYC.

P2P on KuCoin Exchange

  • Buy Crypto
  1. Visit KuCoin P2P Fiat Trade homepage, click “BUY”
  2. Enter the total/amount you want to buy and click “Place Order”.
  3. On the order page, confirm the amount (total) and payment method of the order. Please transfer your payment to the seller within the limited time. The order will be automatically cancelled if you do not mark the payment within the specified time. Make sure you click on “Mark Payment Done” after your payment is done.
  4. Be patient and wait for the seller to release the digital assets after you finish step 3.
  5. After the seller releases the coins, the digital assets will arrive at your Main Account with the complete order.  
  6. If the seller does not release the digital assets within the time specified by the system, or if there is any problem during the transaction, you may contact the seller through chat window in the order page.
  • P2P on KuCoin APP

1: After you are in the logging status, click the “Buy Crypto” or get the page of Trade-Fiat.

2: Fill in the token amount or the fiat amount and click Buy Now.

3: Enter the Purchase page to choose your payment method, and click Mark Payment Done if you have already paid the money for the order.

4: After you finish the payment and click Mark Payment Done, please kindly wait for Seller to confirm, then release the token to you. (The token will be in your Main Account. You need to transfer it from the Main account to the Trading account if you need to trade a token in Spot.)

Tips:

1: If you have already finished the payment and still have not received the token from the seller, contact the seller from the chat window on the right upper side of the order page or KuCoin online service team to get the prompt service.

2: The payment needs to be done manually by the buyer, KuCoin system does not provide the fiat currency deducting service.

  • How to Sell Digital Assets on KuCoin P2P Fiat Trade
  1. Visit KuCoin P2P Fiat Trade homepage, click “Sell”.
  2. Enter the total/amount you want to sell and your trading password. Click “Place Order”(The corresponding number of the tokens will be frozen).
  3. Wait for the buyer to pay. After you confirm the receipt of the payment, please click “release digital assets”, then enter the Trading Password to release the digital assets.

Note:

The order will be automatically cancelled if the buyer does not complete the payment within the specified time, and the system will automatically release the frozen assets.

If the buyer has marked “Mark Payment Done” but you have not received the payment, do not release the assets. Immediately contact the buyer through the chat window on the order page.

  • How to Buy Coins by Credit or Debit Cards

We recommend the following video on how you can buy by Credit or Debit Cards. https://bit.ly/34Q6lWE

And for the specific steps of how you can operate, you may also view:

https://telegra.ph/How-to-Buy-Coins-by-Credit-or-Debit-Cards-06-03

If you have questions about your orders, you can contact the payment channel directly.

Banxa: [email protected]

Simplex: [email protected]

Notes:

 1: Simplex supports users from many countries and regions. You can buy coins by credit card only on Simplex as long as your country or region is supported. Select the coins type, fill in the amount and confirm the currency, then click “Confirm”.

2: All the current payment methods and countries supported by Banxa:

https://www.kucoin.com/news/en-kucoin-adds-apple-pay-via-banxa-for-purchasing-crypto

Important Tips

  • Ads showing Balance Insufficient

You can check the balance of the Ads on the Ads list.

When the balance of your chosen Ads is less than the value/number of assets you want to buy/sell, “balance insufficient “ notice will show, so please re-choose another one from the ads list.

When making trading in the KuCoin P2P Fiat Trade area, make sure your payment account information is the same as your KYC on KuCoin.

In addition, according to the P2P Fiat Trade rules, if the real name of the payment account and the KYC on KuCoin are inconsistent, the seller may choose to return the payment. The platform is not responsible for any account freezing and other disputes arising from the payment accounts whose information is inconsistent with KuCoin KYC Information.

  • Inconsistent Price Between the Price I saw and the Price of the Order

The final settled price is subject to the price after you click the “buy / sell” button and create the order.

Considering that the price of digital currency changes rapidly, there may be a refresh delay in the price on the ads list.

After the order is completed, the assets will be in your Main Account. If you want to trade, you can transfer from the Main account to the Trading account. If you enable KuCoin Margin for your account, and enable the auto-lending function, your assets may be lent out soon after it arrives.

  • Solution of not Receiving Digital Assets in Time after Payment

When you accept the order as a buyer and enter the Buy interface, the seller’s relative assets will be locked in the platform's wallet, so you don’t need to worry about the late receipt of assets after payment. After the seller receives the payment, the asset will be released and transferred to your Main account in real-time.

If you still don’t receive the assets 10 minutes after the payment, contact the seller directly from the chat window, click “contact customer service” or submit the ticket to appeal. Support will help you with this order.

Never click ‘Cancel’ in the corresponding order interface if you have paid for this order. KuCoin will not be responsible for the loss out of dis-operation from the customer side.

 

NB: This content is for informational purposes only, and not for financial advice. Trading in cryptocurrency is risky, and while its market is available worldwide 24/7, please do your own risk assessment as you explore. Tell us your experience trading on the KuCoin exchange.


Do sign up for a KuCoin account.



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Justino
Justino

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