Tutorials For OTC Trading

Buy Crypto

Method 1:

1. Pass real-name verification

Finish real-name verification on the “Account Information” page.

2. Set basic information

Set your nickname and bind your phone number.

3. Choose coin & merchant

In the transaction page, select coin and merchant you prefer, confirm the order, and wait for the merchant to receive the order.

4. Transfer to merchant

Use your own account to transfer to the merchant specified payment method, and click "paid" timely after payment.

5. Merchant confirms payment

The merchant confirms the receipt after checking the receipt of the payment, releases the coin, and the transaction is completed.

Method 2:

Become a merchant
Publish buy AD and wait for order to be accepted.

If the transaction cannot be continued due to disputes between the two parties,please appeal in time and apply for the platform to intervene and deal with it.

Sell Crypto

Method 1:

1. Pass real-name verification

Finish real-name verification on the “Account Information” page.

2. Set basic information

Set your nickname and bind your phone number.

3. Choose coin & merchant

In the transaction page, select coin and merchant you prefer, confirm the order, and wait for the merchant to receive the order.

4. Confirm the receipt of the payment and release the coin

The merchant transfers money to the collection method you bind. Please confirm the receipt of the transfer and release the coin. Then the transaction is completed.

Method 2:

Become a merchant
Publish sell AD and wait for the order to be accepted.

If the transaction cannot be continued due to disputes between the two parties,please appeal in time and apply for the platform to intervene and deal with it.

OTC Trading Fraud Prevention Guide

In reality, some criminals use OTC transactions for fraud, what are the common ways of fraud?And how can investor avoid it?

Fraud Pattern

1

Forging bank transfer notification messages

Send fake SMS screenshots of transfer deduction, fake transfer screenshots, urging the seller to release coins.

Fraud Pattern

2

Multiple orders of the same amount

Place multiple orders with the same amount using multiple accounts. Click "paid" for one or more of the orders without paying and urge the seller to release coins.

Fraud Pattern

3

The amount paid does not coincide with the actual amount

If the order is 10000 USDT, the payable is 11111 USD, but the actual payment is 111.11 USD, etc.

Fraud Pattern

4

Call the seller that he/she has paid

After placing an order, click "paid" but do not remit the money. Contact the merchant by phone to urge the merchant to process as soon as possible, and the merchant may confirm by mistake when it processes a large number of orders.

Fraud Pattern

5

The coin has arrived but complained that it did not arrive and asked for a refund

In this case, the seller please prompt the buyer to go to the account assets to verify whether the coin has been received. If the buyer insist that the coin is not received, the seller should wait for official customer service intervention, do not refund and beware of fraud.

Fraud Pattern

6

Fraud gangs collaborate and impersonate official customer service

The buyer takes the order but does not pay, at this time someone posing as an official customer service, etc., asking the seller to immediately release the coin or transfer the coin to a certain address.

Fraud Pattern

7

Remittance of double cooperation

Users A and B simultaneously place an order with the same price. A remits money to the merchant, while B does not. B will click "I have paid", and B will call the merchant to inform him of the remittance and urge the merchant to confirm as soon as possible. When the merchant checks the collection record, he may mistakenly think that the money received is paid by B, so he will confirm both orders.

Fraud Pattern

8

Intentionally incorrectly fill in the card number of the merchant

When filling in the merchant's bank card number, the buyer(fraud) will intentionally fill in the wrong numbers in the middle, and take a screenshot of the ordinary remittance record. Some bank remittance records will hide several numbers. The buyer will click "I have paid" and constantly urge the merchant to confirm and release the coin. The merchant may click to confirm receipt and release coins without checking the remittance information.

Fraud Pattern

10

Middleman fraud

(1) The scammer contacts with the seller (merchant) and says that he wants to buy crypto, and requires the seller (merchant) to place order.Then the scammer contacts another buyer, saying that he wants to sell coins, and asked the buyer to go to the OTC designated order to place the order. At this time, after the buyer places the order, the scammer requires the buyer to use other way to remit the money to the account of the scammer for various reasons. Then the buyer get cheated.

(2) The scammer contacts with the buyer(merchant) and says that he wants to sell crypto, and requires the buyer(merchant) to place order. Then the scammer contacts another seller, saying that he wants to buy coins, and asked the seller to go to the OTC designated order to place the order. At this time, after the seller places the order, the scammer requires the buyer to use other way to remit the money to the account of the scammer for various reasons. Then the buyer get cheated.

Tips Against Fraud

(1) Please do not trust the chat content of any social media tools, and all the user information provided by the official website shall prevail.

(2) do not believe anyone who claims to be an official person, if you have any questions, please find the official customer service.

(3) Please check the payment information carefully and confirm that the payment is made by the account person.

(4) Please carefully check the amount of each payment, especially the decimal point.

(5) Remember that everything is subject to the receiving account bank flow, text messages or screenshots can not be used as the basis for remittance.