Glossary of WEEX P2P Trading Terms

"Peer-to-Peer" (P2P) is a type of trading where buyers and sellers directly exchange crypto and fiat assets through an online marketplace, with the help of escrow services.

 

To trade on the WEEX P2P platform, you must add a valid phone number and complete identity verification first.

 

Maker: A user who posts an advertisement on WEEX P2P to buy or sell cryptocurrency is called a maker.

Taker: A user who buys or sells cryptocurrency through a listed advertisement on WEEX P2P is called a taker.

 

Users can post advertisements on the WEEX P2P platform to buy or sell crypto. These posted offers are called advertisements.

 

Users who meet the requirements for posting WEEX P2P advertisements can post an ad by tapping "Post New Ad". Select the ad type, trading amount, price, conditions, and other details, then confirm the information. Finally, tap "Submit" to publish the ad.

 

Users interested in becoming a P2P Merchant can submit an application here. For more information, please refer to How to Become a WEEX P2P Merchant.

 

An order is an agreement between a buyer and seller to complete a transaction. WEEX P2P provides escrow protection by locking the seller's crypto until payment is confirmed by both parties.

 

After the buyer has paid and the seller confirms receipt of the payment, the seller must release the agreed amount of crypto to the buyer.

 

The system automatically matches buyers and sellers based on factors such as the best price, preferred payment method, and trading amount.

 

To match your order with a counterparty, the system checks the payment methods you've added to ensure both parties have access to the same payment method.

 

To trade your purchased assets on WEEX, first transfer them from your funding account to your spot or futures account. Log in to your WEEX account and go to Assets → Funding. Then tap Transfer, select your cryptocurrency, and enter the amount you want to transfer.

 

A fixed-price advertisement is an advertisement that keeps the same price, regardless of cryptocurrency market movements.

 

A floating-price advertisement is an advertisement that adjusts with the market and refreshes every minute.

 

The price of a floating-price advertisement updates with the market every minute. If you do not place the order within the time limit, the quoted price will expire. Refresh the page to view the latest price.

 

A floating price adjustment is the premium set by the ad publisher to calculate the price at which they want to buy or sell their assets.

 

An appeal can be submitted when a dispute arises between a buyer and seller. Either party may request help from WEEX customer support. The crypto assets in the disputed order remain locked while the case is reviewed.

 

After submitting an appeal, the requester can cancel it if both parties reach an agreement and customer support's assistance is no longer needed. The order will then return to the payment confirmation stage, and the seller must release the crypto.