OTC FAQ

1. How to evaluate buyers and sellers on OTC?

After taking the available sell/buy orders, you are able to see seller/buyer information as below:

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  1. Total transaction: Total number of successful OTC transactions of this user
  2. Success rate: The rate of completed orders on total placed orders 
  3. Feedback: Feedback from other users after successfully trading with this user
  4. Last login: The last time that user log into account on VCC
  5. Profile status: Identity verification status 
  6. Response speed: The average speed is based on the chat response speed, release coin speed and payment completion speed 

2. OTC Trading fee

Seller fee: Free

Buyer fee: 0.1% of the trading volume

Transaction fee calculation method:

Note: Transaction fee shall be charged on coin. For example as in the BTC/VND pair, the transaction fee shall be charged in BTC, applying the same method for other pairs.

Ex:  If the order is filled, the commission rate is 0.1%, the price is VND 100,000,000 and the quantity is 1 BTC

3. What is the maximum amount of time to make payment after I place a direct order?

Buy orders will be automatically canceled after 15 minutes if the buyers do not make payment and click confirm payment

4. Is there any ways to restore the order or get the coin if I paid but didn't press [I have paid], then the order is canceled and no coins received?

VCC neither bear any responsibility nor provide support for this case. Please carefully follow all the trading guides

5. Is there any ways to cancel or reverse the action after completing a coin transfer?

VCC neither bear any responsibility nor provide support for this case. Please carefully follow all the trading guides

6. What should I do if I made payment but did not receive the coin from the seller?

Customers will be able to file 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 contact with your counterparty.

If the counterpart 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).

7. 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 be returned on the OTC with the initial information

If the buyer confirms payment and files 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

8. 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:

1. The buyer made the payment and uploaded proof of payment which is verified by VCC 
2. The seller did not respond to the appeal or chat message made by buyer
3. The seller did not respond to VCC message (within 3 working days)