This article summarizes frequently asked questions and answers about Hotcoin P2P trading, including payment method selection, order processing, trading risk reminders, and handling exceptional situations.
How do I choose a payment method for P2P trading?
On the P2P trading page:
App:
Tap Payment Method, and select a payment method from the pop-up list.
Web:
Click Payment Method on the right side, and select a payment method from the dropdown menu.
For example, when purchasing with CNY, the platform supports Alipay, bank transfer, and WeChat Pay.
Do I have to use a payment method registered under my real name?
Yes.
When trading in the Hotcoin P2P marketplace, you must use a payment method that matches the real-name verification information of your Hotcoin account.
What should I do if a risk warning appears during a transfer?
Different banks and payment providers have their own risk control systems. During a transfer, a risk warning may appear to alert you about potential risks related to the recipient account.
If this happens, please review the warning carefully and decide whether to proceed with the transaction.
Will the funds be automatically transferred after clicking “I Have Paid” ?
No.
In P2P trading, clicking I Have Paid does not automatically complete the transfer. You must manually transfer the funds using supported payment methods such as WeChat Pay, bank transfer, or Alipay.
After completing the transfer, return to the order page and click I Have Paid, then wait for the seller to confirm receipt and release the digital assets.
Please note:
- Ensure the recipient account information is correct
- Do not include sensitive terms such as USDT or BTC in the transfer remarks
- Do not transfer funds to an account whose real-name information does not match the order
What should I do if I forgot to click “I Have Paid” and the order was canceled?
If you have already completed the payment but forgot to click I Have Paid, which resulted in the order being canceled, please contact Hotcoin customer support as soon as possible and provide the following information:
- Order ID
- UID
- Contact information
- Payment proof (transfer screenshot or transaction record)
Customer support will assist with verification and resolution.
Please do not negotiate refunds privately with the seller or make additional transfers, as this may result in financial loss.
To view your order history, please refer to P2P Orders and Account Assets.
What should I do if I have paid but have not received the digital assets?
If you have completed the payment but have not received the digital assets for a long time, please follow the steps below:
1) Confirm that you clicked 「I Have Paid」
Make sure you clicked the I Have Paid button on the order page after completing the transfer.
2) Wait for the seller to confirm receipt
Once the seller receives the payment, they will click Release Assets. This usually takes a few minutes.
3) Contact the seller
You can communicate with the seller through the order chat window to confirm whether the payment has been received.
4) Contact customer support
If the seller does not confirm the payment or refuses to release the assets for an extended period, please contact customer support and provide the order ID and payment proof for assistance.
What should I do if the seller asks me to cancel the order?
If the seller asks you to cancel the order, please evaluate the situation carefully.
- If you have not made the payment: You may cancel the order directly.
- If you have already made the payment: Do not cancel the order, as this may result in financial loss.
Recommended actions:
- Communicate with the seller via the order page chat
- If the seller refuses to release the assets or asks you to cancel the order, contact Hotcoin customer support immediately
- Provide the order ID and payment proof for verification
What should I do if the seller asks me to use another payment method or trade outside the order?
In P2P trading, always use platform-supported payment methods and complete the transaction according to the order details.
If the seller asks you to:
- Use an unsupported payment method
- Transfer funds outside the order
- Send funds to an account whose real-name information does not match the order
Please remain cautious and refuse such requests.
To protect your funds:
- Only transfer funds according to the payment details shown on the order page
- Do not conduct off-platform transactions
- Contact Hotcoin customer support immediately if you encounter suspicious activity
Why is my P2P account unable to continue purchasing?
According to Hotcoin’s risk control policies, the following situations may result in restrictions on P2P purchases:
- Canceling more than three orders in a single day
- Repeated malicious order blocking behavior
- Being identified as a high-risk user or located in a high-risk region
If you encounter such restrictions, please contact customer support for assistance.
Why did my transfer succeed but the seller has not received the funds?
If you have completed the transfer but the seller has not received the funds, please check the following:
- Whether the recipient account information exactly matches the order details
- Whether the payment method has processing delays
- Whether the bank or payment provider is undergoing system maintenance
If the funds still have not arrived, please contact your bank or payment provider for confirmation.
If the transfer has been confirmed but the seller still has not received the funds, please contact Hotcoin customer support for assistance.
Are there any fees for P2P trading?
In the Hotcoin P2P marketplace, regular users are generally not charged trading fees when buying or selling digital assets.
For detailed fee information, please refer to the latest platform announcements or fee schedule.
Related Articles
P2P Orders and Account Assets
Trading Safety and Dispute Handling
How to Buy Crypto via Hotcoin P2P on the Web
How to Buy Crypto via Hotcoin P2P on the App
How to Sell Crypto via Hotcoin P2P on the Web
How to Sell Crypto via Hotcoin P2P on the App
