P2P or (Peer-to-Peer) trading feature gives access to both buyers and sellers to directly buy or sell cryptocurrencies to each other. It is also known as Customer-to-Customer trading which can take place via P2P trading platforms or exchanges.
Yes, it is mandatory to complete the KYC/Identity verification process before initiating any P2P trading. To complete the verification process, you need to provide:
->Your Name & Date of Birth
->An Email Address
->Government issued identity card
It is required to complete the account verification process because in P2P trading, all the transactions directly take place between the buyers and sellers. It enables the users to identify other users’ accounts, and both parties can agree to trade with each other.
Moreover, it is required to ensure that every individual on our platform is a genuine user.
No, the various trading offers you see on CoinCRED's listing page are provided by the users individually.
Your entire crypto trading and transactions are end-to-end encrypted and secured with CoinCRED’s escrow arrangement. It means when any selling offer will be posted, the coin amount will be systematically set for the offer from the seller's wallet. Even if the seller does not issue your coin and takes off with your fund, our support team will release the coin/token to you for the same amount.
Please note that being a seller, release the amount only when it is confirmed that you have received the amount from the buyers.