Over-the-counter (OTC) trading is a cornerstone of the cryptocurrency ecosystem, enabling users to buy and sell digital assets directly with one another in a fast, flexible, and often more private manner. To ensure fairness, security, and compliance, all participants must adhere to clearly defined OTC trading rules. This guide outlines essential principles, user responsibilities, and risk management protocols designed to protect both buyers and sellers in peer-to-peer transactions.
Whether you're new to crypto or an experienced trader, understanding these guidelines helps prevent disputes, avoid account restrictions, and maintain trust within the trading community.
Core OTC Trading Principles
All users engaging in OTC transactions agree to the following foundational rules:
- These OTC trading rules take effect immediately upon publication and may be updated periodically. Continued use of the service implies full acceptance of current and future versions.
- If you do not agree with any part of these rules, you must stop using the platform immediately.
- All participants must act in good faith and comply with the procedures outlined below.
Buyer Responsibilities
After creating an order, buyers are required to:
- Complete payment within the specified time frame before clicking “I have paid.”
- Use a real-name verified payment method that matches their account identity.
- Transfer funds directly to the seller’s designated recipient account using instant到账 (real-time) transfer methods.
- Obtain prior approval from the seller if using non-instant transfer options.
Note: Non-instant transfer methods currently include Alipay-to-bank transfers, WeChat-to-bank transfers, or single large transfers (over 50,000 CNY) made between 5:00 PM and 9:00 AM. These may change based on evolving payment gateway policies.
Seller Responsibilities
Once an order is generated, sellers must:
- Provide a platform-verified payment account.
- Release digital assets promptly after receiving full payment—within the allowed timeframe.
- Refrain from requesting order cancellation without buyer consent.
- Accept the agreed-upon price once the order is created, unless renegotiated with mutual agreement.
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Anti-Money Laundering (AML) Compliance
All users must comply with strict anti-money laundering standards to maintain platform integrity:
- Adhere to the platform’s official AML and counter-terrorism financing policies.
- Ensure all linked accounts are registered under your verified real-name identity.
- Cooperate fully with any additional verification requests if flagged by the risk control system, including submitting supporting documentation as needed.
Failure to comply may result in temporary or permanent account restrictions.
Handling Buyer Irregularities
Certain behaviors by buyers can disrupt transactions or indicate malicious intent. Below are common scenarios and their resolutions.
1. Frequent Order Cancellations
If a buyer cancels orders (or allows them to expire due to late payment) four times in one day, their buying privileges will be restricted. Two consecutive days of such activity leads to broader account limitations.
2. False Payment Confirmation
Clicking “I have paid” without actually transferring funds gives the seller the right to cancel the order. Two such incidents in a single day trigger partial account restrictions. If the disputed amount exceeds 50,000 CNY, the account will be locked for 48 hours.
3. Unjustified Disputes
Filing an appeal without cause while no payment has been made allows the seller to cancel the transaction. Two complaints of this nature in one day lead to functional limitations on the buyer’s account.
4. Paying the Wrong Account
Transferring funds to an incorrect recipient—other than the one listed in the order—allows the seller to cancel. The buyer bears full responsibility for misdirected payments.
5. Premature "I Have Paid" Click
If a buyer clicks “I have paid” before sending funds:
The seller may choose to proceed or cancel.
- If proceeding: The seller must release assets within 10 minutes of receiving full payment.
- If canceling: Refund must be processed within 2 hours of dispute initiation.
6. Non-Real-Name Payment Accounts
Using a payment method not tied to the user’s verified identity (including corporate accounts) constitutes a violation. Sellers may reject the trade and refund within 48 hours. Two such violations result in account restrictions.
7. Payment During Valid Timeframe, But Order Is Cancelled
If a buyer pays fully or partially but cancels the order—or it expires—the seller decides whether to complete or cancel:
To complete:
- Regular users: Platform reopens order; seller releases assets within 10 minutes.
- Advertisers: Use “Reopen & Release” for ≤50k CNY; release within 10 minutes for >50k CNY.
- To cancel: Refund must be issued within 60 minutes of notification.
8. Partial Payments Before Confirming
For multi-transfer orders, confirming before completing all payments:
- Is acceptable only if pre-approved by the seller.
Otherwise, seller may proceed or cancel:
- Proceed: Release assets within 10 minutes of final receipt.
- Cancel: Refund within 30 minutes.
9. Incorrect Payment Amount
- Overpayment: Transaction proceeds; excess amount refunded within 30 minutes.
Underpayment: Seller chooses to proceed at actual amount or cancel:
- Cancel: Refund within 30 minutes.
10. Seller Does Not Receive Payment Within One Hour
After “I have paid” is clicked:
Seller may proceed or cancel:
- Proceed: Release assets within 10 minutes of receipt.
- Cancel: Refund within 30 minutes.
- For advertisers: If unreachable within 10 minutes post-dispute and no payment received, support may cancel automatically.
11. Unverifiable Real-Name Info on Receipt
- If sender’s real name matches platform records and payment was timely → transaction completes.
- If names don’t match → treated as non-real-name payment (see #6).
12. Seller’s Account Experiences Technical Issues
- Buyer cannot prove account validity → seller refunds within 24 hours after resolution; order canceled.
- Buyer provides proof → transaction completes; assets delivered.
- For VIP sellers: Assets returned; refund within 24 hours after fix.
13. Suspicious Payment Notes
Including terms like “BTC,” “Bitcoin,” “crypto,” or “Huobi” in transfer notes:
Seller may proceed or cancel:
- Proceed: Release assets within 10 minutes.
- Cancel: Refund within 60 minutes.
- If seller’s account gets frozen → handled per rule #12.
14. Malicious Sniping of Low-Priced Orders
Detected by risk systems:
- If unpaid → order canceled; assets returned.
- If paid → seller refunds within 10 minutes; platform assists cancellation.
- Two such incidents → account restrictions.
⚠️ Reminder: Any delay by sellers in releasing assets or issuing refunds will result in partial account restrictions.
⚠️ Behavioral Policy: Aggressive language, insults, sarcasm, or provocation during third-party calls results in immediate account limitations.
Managing Seller Irregularities
Sellers also face accountability for improper conduct or technical oversights.
1. Responsibility for Recipient Accounts
Sellers are fully responsible for all displayed and shared recipient details. Providing someone else’s account—whether intentionally or under influence—results in asset ownership being awarded to the buyer upon confirmed payment.
2. Price Disputes After Order Creation
Unless mutually agreed upon with the buyer, sellers must honor the original price and release assets on time.
3. Seller’s Account Malfunctions
Buyer chooses:
- Proceed: Once fully paid, seller releases assets per deadline.
- Cancel: Seller refunds; assets returned.
4. Failure to Provide Valid Payment Method
If a seller fails to supply a working method and causes cancellation:
- Order canceled; no penalty to buyer.
- Two such cases → seller account restrictions.
5. Invalid or Mismatched Real-Name Receivers
Non-advertiser sellers who fail to bind real-name-compliant accounts (e.g., QR code name ≠ listed name):
- Buyers may cancel and file complaints.
- Three complaints → permanent restriction.
- Buyers choosing to proceed assume transfer risks.
6. Accepting Non-Real-Name Payments
Sellers who accept payments from unverified sources bear all resulting risks and face restrictions if reported.
7. Delayed Asset Release After Full Payment
If seller receives full payment but fails to release assets within 20 minutes:
Buyer may demand completion or refund:
- Complete: Support rules in buyer’s favor.
- Refund: Must occur within 30 minutes.
- Exception: If buyer appeals within 20 minutes and blocks communication, transaction completes automatically.
⚠️ Same behavioral policy applies: abusive communication during calls leads to penalties.
Risk Control & Security Violations
The platform enforces strict measures against high-risk activities.
1. Refusing AML Verification
Users who decline or ignore follow-up checks after triggering AML alerts may face:
- Risk level escalation
- Temporary or full account freeze until compliance
2. Reselling Coins Off-Platform for Profit
Confirmed cases of buying via OTC and reselling elsewhere may lead to:
- Delayed withdrawals
- Trading restrictions
- Account freezing
Note: Active orders may be canceled at advertiser discretion.
3. Account Sharing or Proxy Trading
Accounts found lending, renting, or acting as agents for others are subject to:
- OTC function suspension (temporary or permanent)
- Withdrawal delays or freezes
Risk warning: Protect your personal information from misuse in illegal activities.
4. Card Testing Behavior
Sending small amounts to other users without valid orders—and failing to justify it—may lead to:
- OTC access suspension
- Withdrawal limits
- Account freeze
5. Handling Illicit Funds or Assets
Introducing known or reasonably suspected "black money" or "dirty coins" from other platforms or groups results in permanent account and affiliate account bans.
6. Confirmed Money Laundering Involvement
Direct or indirect participation in money laundering leads to immediate and permanent suspension of all associated accounts.
7. Judicially Frozen Accounts
Accounts frozen by legal authorities are locked per official documentation. Renewal requires reapplication by the authority. Users cannot request unfreezing through the platform.
8. Legal Data Requests
When courts or agencies request user data (e.g., subpoenas), the platform may restrict certain functions temporarily during review.
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Frequently Asked Questions (FAQ)
Q: What happens if I accidentally click “I have paid” too early?
A: The seller can choose to wait for your payment or cancel the order. Communicate immediately via chat to avoid disputes or penalties.
Q: Can I use my company bank account for OTC trades?
A: No—even if the legal representative matches your real name, corporate accounts are considered non-personal and violate real-name requirements.
Q: How long does a seller have to release crypto after receiving payment?
A: Sellers must release assets within 20 minutes of confirming full receipt, unless otherwise specified in exceptional cases.
Q: What should I do if my bank transfer isn’t instant?
A: You must get explicit approval from the seller before using delayed methods like Alipay-to-card transfers.
Q: Will I lose my crypto if I get reported once?
A: A single report doesn’t automatically result in loss—but repeated violations can lead to restrictions or permanent bans.
Q: How does the platform detect malicious behavior like sniping low-price orders?
A: Advanced risk systems monitor patterns such as rapid-fire ordering, frequent cancellations, and abnormal trading volumes to identify abuse.
Final Notes
Understanding and following these OTC trading rules, peer-to-peer crypto guidelines, and anti-money laundering protocols is crucial for every user. By maintaining transparency, respecting deadlines, and communicating clearly, traders build trust and contribute to a safer marketplace.
👉 Protect your trades and maximize efficiency—join a secure OTC environment today.