- How to evaluate buyers and sellers on OTC?
- After accepting the available sell/buy orders, you are able to see seller/buyer information as below:
- Total transaction: Total number of successful OTC transactions of this user
- Success rate: The rate of completed orders on total orders placed
- Feedback: Feedback from other users after successfully trading with this user
- Last login: The last time that user login to account on VCC
- Profile status: Account verification status
- Response speed: The average speed is based on the chat response speed, release coin speed and payment completion speed
- OTC Trading fee
Maker fee: Free
Taker fee: 0.1% of the trading volume
Transaction fee calculation method:
- In case of a buy order, the quantity obtained by subtracting the quantity corresponding to the commission rate from the filled quantity will be the actual quantity
- In case of a sell order, the amount of the sale price minus the commission rate is the actual selling price.
- Note: Transaction fee shall be charged on coin, for example as in the BTC/VND pair, the transaction fee shall be charged in BTC, the same go as other pairs
Ex: If the order is filled, the commission rate is 0.10%, the price is VND 100,000,000 and the quantity is 1 BTC
Actual purchase amount
= Filled amount (1 BTC) - 1 BTC x transaction fee rate (0.10%) = 0.999 BTC
= Filled amount (1 BTC) x Transaction Fee Rate (0.10%) = 0.001 BTC
Total VND (Transaction Value) = Quantity (1 BTC) x Price (100,000,000 VND) = 100,000,000 VND
- What is the maximum amount of time to make a payment after I place a direct order?
Buy orders will be automatically canceled after 15 minutes if the buyer does not make payment and clicks confirm payment
- Is there a way to restore the order or get the coin if I paid but didn't press confirm payment then the order is canceled and no coins received
- VCC neither bear any responsibility nor support for this case. Please carefully follow all the trading guides
- Is there any way to cancel or withdraw the transferred coins after completing a coin transfer?
VCC neither bear any responsibility nor support for this case. Please carefully follow all the trading guides
- What should I do if I made the payment but did not receive the coin from the seller?
- Customers will be able to make an appeal/upload proof of payment after 24 hours since your payment is completed and in the mean time, customers can use the chat function to confirm with the seller.
If the seller does not respond within 24 hours after the appeal, the buyer can contact VCC directly through the support channels for instructions on the next steps (the process can take from 3-5 working days).
- What should I do if my sell order is locked because someone confirmed the order but did not transfer the payment?
Buyer will have 15 minutes to make payment after receiving the order, if they do not press pay, the buy order will be automatically canceled and the balance of the sell order will automatically return on the OTC with the initial information
If the buyer confirms payment and makes an appeal but fails to transfer the payment, the seller can upload bank statement to prove that they have not received the payment and contact VCC directly through the support channels for instructions on the next steps
- Why do my coins placed in a sell order are automatically released?
VCC will automatically release the coins in sell order which has been filled if the order meets the following conditions:
- The buyer made the payment and uploaded proof of payment which is verified by VCC
- The seller did not respond to the appeal or chat message made by buyer
- The seller did not respond to VCC message (within 3 working days)