To optimize the P2P trading experience, new criteria for creating advertisements on the P2P market will be implemented across eight key regions. These updates are designed to enhance security, reliability, and overall user satisfaction for all participants. The changes will take effect on July 31, 2023, at 16:30 Vietnam Time.
This initiative aims to standardize operations, reduce fraudulent activities, and foster a more trustworthy trading environment. Both new and experienced traders should understand these criteria to ensure seamless continued participation in the marketplace.
Key Criteria for P2P Advertisers
The new requirements focus on several core aspects of user activity and trading behavior. Meeting these standards will be mandatory for users who wish to create new P2P ads.
- Account Age: Minimum duration since user registration.
- Completed Orders: Minimum number of successfully finished trades.
- Unique Counterparties: Minimum number of distinct users traded with.
- Completion Rate: Minimum ratio of completed to initiated orders.
- Buy Orders: Minimum number of purchase transactions.
- Sell Orders: Minimum number of sales transactions.
- Net Profitability: Minimum net gain (total buy value minus total sell value) over the past six months.
- Complaint Threshold: Maximum number of complaints where the user was found responsible.
These metrics collectively help identify reputable and consistent traders, promoting a healthier ecosystem.
Regional Specifications
The exact numerical thresholds for each criterion vary by geographic region. This tailored approach acknowledges diverse market maturity levels, local regulations, and common trading practices.
For detailed, region-specific requirements, users should refer to the official documentation. Major regions affected include:
- CIS (Commonwealth of Independent States)
- Africa
- MENA (Middle East and North Africa)
- USD (US Dollar markets)
- EU (European Union)
- Asia
- LATAM (Latin America)
- SEA (Southeast Asia)
- All Other Currencies
👉 Check the specific criteria for your region
Objectives of the New Policy
Introducing these standards serves multiple long-term benefits for the P2P community.
Enhanced Trust and Safety: By vetting advertisers based on historical performance, new users can trade with greater confidence.
Improved Market Quality: The criteria deter low-effort or malicious advertisers, leading to higher-quality ads and more competitive offers.
Reduced Disputes: A focus on completion rates and complaint history helps minimize problematic transactions and disputes.
Fair Trading Environment: Establishing a baseline for participation ensures all advertisers meet a minimum standard of activity and reliability.
Preparing for the Changes
If you are an active P2P trader, we recommend you review your current standing against these new parameters. You can often find your relevant statistics within your account profile or trading history dashboard.
Focus on maintaining a high order completion rate, diversifying your trading partners, and keeping your net activity balanced. These practices will not only help you meet the new criteria but also improve your overall trading reputation.
For a comprehensive guide on qualifying as an advertiser and optimizing your trading strategy, always refer to the latest official resources. 👉 Learn how to meet the new ad requirements
Frequently Asked Questions
Q: What happens if I don’t meet the new criteria?
A: Users who do not meet the criteria for their region will temporarily be unable to create new P2P advertisements. You can still use the platform to respond to existing ads and perform trades to improve your metrics.
Q: Will these changes affect my existing ads?
A: Existing ads will remain active. However, when you try to create a new ad after the effective date, the system will check if you meet all the new requirements.
Q: How often are these criteria updated?
A: The platform periodically reviews and updates its policies to reflect market conditions. Significant changes, like these, are announced well in advance.
Q: Where can I see my current performance stats?
A: Your completion rate, number of orders, and other relevant metrics are typically visible in your account’s P2P trading section or user profile.
Q: Is net profitability calculated only on crypto trades?
A: Yes, the net profitability metric specifically refers to your P2P trading activity involving cryptocurrencies and fiat pairs over the last six months.
Q: Who should I contact if I believe my account is incorrectly flagged?
A: If you have issues, reach out to official customer support through the platform’s help center for a manual review of your account status.
Staying informed about platform updates is crucial for a smooth P2P trading experience. These new criteria are a positive step toward a more secure and efficient marketplace for everyone.