MEXC P2P Trading Guide: Glossary & FAQs
Peer-to-Peer (P2P) trading enables buyers and sellers to exchange cryptocurrencies directly, allowing them to negotiate prices, payment methods, and trading terms without intermediaries. The MEXC P2P platform facilitates these transactions with security features like escrow services, ensuring a safe and fair trading experience. Unlike traditional exchange-based trading, P2P trading offers users greater flexibility and control over their transactions.
Mastering P2P trading starts with understanding its key terms and common practices. This guide breaks down essential concepts and answers frequently asked questions, equipping you with the knowledge to trade securely and efficiently on MEXC P2P.
Glossary
Term | Definition |
Advertisement (Ad) | A listing created by a trader to specify their offer to buy or sell cryptocurrency. The advertiser sets the price, payment methods, and trade limits, enabling other users to initiate transactions based on the provided details. |
Appeal | A dispute resolution process that allows buyers or sellers to report issues with a trade. Users can submit an appeal to the platform’s Customer Service team, who reviews the evidence and determines a resolution. |
Available assets | The specific cryptocurrencies listed in a trader’s advertisement for sale or purchase.
Available assets help traders assess listings efficiently, enabling informed decision-making and ensuring a transparent trading experience. |
Completion rate | The percentage of successful trades a user has completed. A higher completion rate indicates reliability and enhances trust among traders on the platform. |
Escrow | A security feature that temporarily holds the seller's cryptocurrency until the buyer's payment is confirmed. This ensures a secure transaction by withholding asset release until the trade is verified. |
Featured ad | A prioritized advertisement on the P2P platform that gains increased visibility among traders. Featured ads typically appear at the top of search results and may require a fee or special merchant status. In some cases, they may be granted during promotions, as rewards, or under specific terms to benefit experienced traders. |
Fixed-price advertisement | An ad in which the advertiser sets a fixed price for cryptocurrency that remains unchanged regardless of market fluctuations. |
Maker and Taker |
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Maximum and minimum order limits | Predefined trade size restrictions set by the advertiser, specifying the smallest and largest amounts that can be traded in a single transaction. |
Online status | Indicates whether a trader is actively available to respond to trade requests. Traders marked as "online" are more likely to process transactions promptly. |
Payment method | The means by which funds are transferred between buyers and sellers. Essential for completing transactions on MEXC P2P, payment methods include options like bank transfers or e-wallets, ensuring compatibility and reducing the risk of failed trades. |
Payment time limit | The designated timeframe within which a buyer must complete payment for a transaction. Failure to pay within this period may result in order cancellation and potential penalties. |
Review | User feedback provided after a completed transaction, helping traders assess the reliability and trustworthiness of their counterparties before initiating a trade. |
Security deposit | A sum of funds temporarily frozen by the platform to enhance security and ensure compliance with trading rules. A security deposit may be required from both merchants and regular users to help maintain a safe trading environment, prevent fraud, and reinforce accountability. It may be forfeited if a user violates platform policies or engages in misconduct. |
"T+1" and "T+2" withdrawal limits | "T+1" and "T+2" withdrawal limits refer to security measures that enforce a waiting period of 24 to 48 hours before purchased funds can be withdrawn. These limits help prevent fraudulent transactions and unauthorized account access. |
Trading terms | Additional conditions set by the advertiser that a buyer or seller must accept before placing an order. These terms may specify response time expectations, payment conditions, or counterparty verification requirements. Clearly defined trading terms help ensure mutual understanding, promoting a transparent and efficient trading experience. |
FAQs
Who can trade on the MEXC P2P platform?
Any verified user who has completed KYC verification and added a valid payment method can trade on MEXC P2P. To maintain a safe trading environment, users must comply with platform policies and security measures.
How do I become a P2P merchant?
To become a merchant on the MEXC P2P platform, users must submit an application and meet specific criteria, such as a successful trading history, account verification, and adherence to platform rules. Merchants receive additional benefits, including priority listings and dedicated customer service.
How does the Quick Buy zone differ from the regular P2P Zone on MEXC?
- Quick Buy: Automatically matches users with the best available price for the amount they wish to buy, streamlining the trading process.
- P2P Zone: Allows users to manually select their counterparty, providing greater control over trade conditions.
What does "release crypto" mean?
When a buyer completes the payment, the seller must verify that the funds have been received through the selected payment method. Once confirmed, the seller releases the cryptocurrency from escrow to the buyer. The released cryptocurrency is then automatically deposited into the buyer's MEXC wallet, ensuring a seamless and secure transfer with no further action required from the buyer.
How do I cancel an appeal?
If an appeal is no longer necessary, the user who initiated it can cancel the request. This allows the trade to proceed, with the seller required to release the cryptocurrency once payment is confirmed.
By understanding these key terms and frequently asked questions, you can navigate MEXC P2P with confidence. For further assistance, explore our P2P beginner's guides or contact MEXC Customer Service.
Start trading securely on MEXC P2P today!