Advanced Guide to P2P Trading on Fokawa

Advanced Guide to P2P Trading on Fokawa

Peer-to-Peer (P2P) trading on Fokawa allows users to buy and sell cryptocurrencies directly with each other. This guide provides advanced information on how to use Fokawa’s P2P trading desk.

How Do I Use Fokawa’s P2P Trading Desk?

Log In: Sign in to your Fokawa account.

Navigate to P2P Trading: Go to the "P2P" section on the Fokawa platform, typically found in the main menu.

Set Up Your P2P Profile:
- Complete any necessary KYC verification if required.
- Set up your payment methods to facilitate transactions.

Browse Listings:
- Browse available buy and sell listings.
- Use filters to narrow down the options based on cryptocurrency, payment method, and price.

Initiate a Trade:
- Select a listing that meets your criteria.
- Click on "Buy" or "Sell" to initiate the trade.
- Enter the amount of cryptocurrency you want to buy or sell.

Communicate with the Counterparty:
- Use the built-in chat feature to communicate with the counterparty.
- Confirm payment details and transaction terms.

Complete the Trade:
- Make the payment if you are buying, and mark the payment as completed.
- If you are selling, confirm receipt of payment and release the cryptocurrency to the buyer.

Confirm and Review:
- Once the trade is completed, both parties can leave a review.
- Check the status of the trade in the "Trade History" section.

What is the Minimum Trade Size for P2P Trading?

- Minimum Trade Size: The minimum trade size for P2P trading on Fokawa varies depending on the cryptocurrency and the terms set by the seller. Typically, the minimum trade size is specified in the listing and can range from small amounts (e.g., $10 equivalent) to larger amounts based on user preferences.

How Do I Contact the P2P Desk?

- Contact via Platform: Use the built-in chat feature on the Fokawa platform to communicate with the P2P desk for support.
- Email Support: For additional assistance, you can email Fokawa’s support team at support@fokawa.com.

How Do I View P2P Trade History?

Log In: Sign in to your Fokawa account.

Navigate to Trade History:
- Go to the "Account" or "Profile" section.
- Select "P2P Trade History" or a similar option to view your past P2P trades.

Review Your Trades:
- You will see a list of all your P2P trades, including details such as date, trading pair, trade amount, and counterparty.
- Use filters to search for specific trades if needed.

What Are the Fees for P2P Trading?

- Trading Fees: Fokawa typically charges a small fee for each completed P2P trade. This fee is a percentage of the total trade amount and is usually displayed during the trade initiation process.
- No Hidden Fees: There are no hidden fees for P2P trading on Fokawa. All fees are transparently displayed before you confirm a trade.

Tips for Safe P2P Trading

- Verify Counterparty: Always verify the counterparty's reputation and reviews before initiating a trade.
- Use Secure Payment Methods: Use secure and verified payment methods to ensure the safety of your transactions.
- Be Prompt: Complete payments and confirmations promptly to avoid delays and potential disputes.
- Report Issues: If you encounter any issues, use the platform's reporting features or contact Fokawa support immediately.

By following this advanced guide, you can effectively use Fokawa's P2P trading desk, understand the associated fees, and ensure safe and successful transactions.

Updated on: 19/06/2024