FAQ

HOW IS THE EXCHANGE RATE OF CRYPTOCURRENCIES FORMED ON COINPLACE PLATFORM?

CoinPlace is a service for peer-to-peer trading, therefore the platform itself does not influence the rates. A seller may set any price he or she wants. However, we will motivate the sellers to make the prices at least one cent lower than those on stock exchanges. This way the platform will help the buyers make the rates dynamic by linking them to stock exchange rates.

WHAT IS YOUR WITHDRAWAL COMMISSION? WHAT OTHER COMMISSIONS ARE CHARGED BY YOUR PLATFORM?

The crediting of funds is free. Commissions may be charged only by the networks themselves (Bitcoin, Ethereum, etc.) for the processing of your transaction. The same is true for withdrawal.

HOW CAN I PAY FOR TOKENS?

You can pay for tokens using ETH or BTC via coinplace.info. If you want to purchase tokens for the main types of fiat currencies (P2P sale by agents in different countries of the world), please visit coinplace.pro/lots/buy.

I HAVE NEVER BOUGHT A CRYPTOCURRENCY BEFORE. I ONLY HAVE SOME MONEY ON MY BANK CARD. WHAT SHOULD I DO?

1.Go to coinplace.pro.

2. Select your country.

3. Search for a seller that is ready to accept a transfer from your bank card or account.

4. Exchange funds in accordance with the rules of the service.

CAN I USE ANY FIAT CURRENCY TO PAY FOR CRYPTOCURRENCIES? ARE THERE ANY LIMITATIONS ON CERTAIN NATIONAL CURRENCIES?

There are no limitations on national currencies. We are ready to accept any currency provided the national legislation of its country does not prohibit operations with cryptocurrencies. However, demand in a country depends on whether there are sellers in it.

WHAT IS THE RATE OF YOUR TRANSACTION COMMISSION?

We do not charge commissions from the buyers of our tokens. As for other cryptocurrencies, additional payments are charged in accordance with service tariffs listed in the Tariffs section. Unlike on stock exchanges, in our platform commissions are charged by only one party of a transaction.

WHAT DOES THE TRANSACTION PROCEDURE LOOK LIKE?

A transaction starts with an offer.

* A buyer or a seller creates an offer on the platform and sets out the terms.

* The service saves the terms.

* The buyer or the seller receives a proposition to enter into an escrow transaction.

* Having received a proposition, the buyer or the seller may accept, refuse from, or amend it.

* If the proposition is accepted, the digital asset that is a subject of the transaction is frozen.

* A transaction is created. The service waits for both participants to confirm its completion or violation of its terms.

* If both parties confirm successful completion, frozen funds are transferred as directed.

* If both parties decide to cancel the transaction, or its time is over, guarantee payments are returned to the parties.

* If one of the parties confirms the fulfillment of transaction terms, and the other one claims violation of its terms, a transaction is considered disputable.

* In this case an arbitration procedure is initiated. A disputable transaction is moderated by the arbitrator of the platform. His task is to request the data from each of the users and to decide whether any payment was made. Arbitration results in transferring digital assets to one of the parties and in a rating change or removal of the guilty party from the platform.

HOW WOULD I KNOW WHETHER I HAVE SUCCESSFULLY BOUGHT TOKENS IF BOTH BITCOIN AND ETHEREUM NETWORKS ARE OVERLOADED?

You will receive an e-mail notification. If it does not come within 8 hours, please contact our support service. We take network overloads into account, and your transaction will be completed anyway, but there might be a little delay.

CAN I RESELL TOKENS WHILE THEY ARE OFFICIALLY SOLD ON THE WEBSITE?

This option is only available to verified users that undertake an obligation to trade tokens and follow our partner relation rules. In order to become a partner, please visit the relevant section of our site or contact our support service. Please note that partners can only buy tokens using cryptocurrencies (Bitcoin or Ethereum) and resell them for fiat money. To learn more about the terms of such transactions, please visit the Partners section on coinplace.pro.

I ALREADY HAVE A WALLET WITH CRYPTOCURRENCIES ON ANOTHER PLATFORM. CAN I USE IT TO BUY TOKENS? WHAT WALLET WILL THEY BE TRANSFERRED TO – MY OWN ONE OR THE ONE ON COINPLACE?

You can use a third party wallet to buy tokens only if it is based on Ethereum. This way you can buy cryptocurrencies by transferring Ethereum to the smart contract address. If your wallet does not support this protocol, you will have to transfer the cryptocurrency to our service or to pay with fiat money. In this case tokens will be stored in your CoinPlace wallet.