Q1: How to become a P2P merchant?
A1: You can view the merchant application requirements and guide on the "Merchant Application" page.
Q2: How can I earn money through P2P trading as a merchant?
A2: You can obtain USDT that needs to be traded from a third party and earn the exchange rate difference by publishing buy/sell USDT advertisements (ads) on BingX P2P Trading platform.
You can also place buy and sell ads at the same time on BingX P2P Trading platform to capitalize on the price difference between the two orders. It is recommended to refer to the corresponding fiat currency exchange rates and ads from other merchants on the platform to set competitive prices, thereby attracting more orders.
The platform also periodically launches merchant incentive events. You can stay updated by following BingX's official announcements or joining the official P2P Telegram channel: https://t.me/BingXP2PChannel.
Q3: How can I increase the exposure of my ads?
A3: After users perform a search on the P2P Trading page, the system will sort the ads that meet the criteria based on a comprehensive algorithm. The main factors include price, transaction rate, and average transaction time. Setting competitive prices, improving the transaction rate, and reducing the transaction time will help increase the exposure of your ads.
Q4: How can I set my business/closing hours?
A4: Go to "My Ads" on the P2P Trading page. If you already have active ads, click the "Open" button in the upper right corner.
You can set "Pause Business" or "Auto Break" according to your needs.
Pause Business: After switching it on, your ads won't be displayed in the P2P ad list. To resume business, simply switch it off.
Auto Close: After switching it on, your ads won't be displayed in P2P during your set hours.
Set "Pause Business" and "Auto Close" with just a click >>
Q5: Why are my P2P ads taken down?
A5: If you violate BingX's P2P merchant rules, engage in malicious diversion of traffic, or have over 5 appeals on your P2P orders within a day, your ads may be taken down. If you need to lift the restriction, please contact us on Telegram @BingXP2P or send an email to support@bingx.com.
Q6: Why was my merchant status removed?
A6: Scenarios for merchant status removal:
1. Your merchant status will be revoked if you have no completed orders within a month after becoming a merchant, or if you post ads with abnormal prices and don't correct them after being notified twice. You'll need to reapply to regain your merchant status.
2. Your merchant status will also be revoked if there are unresolved appeals or if user fraud complaints are validated by the platform.
3. Violation of the platform's merchant regulations. For details, please refer to: P2P Rules丨Merchant Regulations
Q7: If a merchant's bank account is frozen due to a counterparty's actions, what documents should be submitted to the platform to provide proof for unfreezing?
A7: Please send a request to our email at compliance@bingx.com.
The request must be sent via the official email address of the law enforcement department. Attach the following documents in the email:
1. A photo of the law enforcement officer, along with their name, email and relevant credentials.
2. An official request for assistance stamped with the seal of the law enforcement department.
3. A letter specifying the information BingX is required to provide for the investigation. The documents may include the counterparty's account information, address, name, phone number, etc. Once we receive these documents, we will fully cooperate with the law enforcement department to provide the necessary information.
Q8: Can merchants use nicknames or avatars with official names or BingX in them?
A8: To ensure transaction security and compliance, merchants are not allowed to use nicknames or avatars containing "BingX" or any official names. If detected or reported by users, BingX will remove the nickname or avatar. If this occurs more than twice, the merchant's status will be revoked. Please note Emojis and special characters are not allowed in nicknames.
Q9: What is the merchant security deposit? Will it be refunded after I become a merchant?
A9: The merchant deposit is required to enhance transaction security and cannot be fully refunded. Merchants with a good transaction record within the first month can apply for a partial refund by sending an email to P2P@bingx.com. The platform will evaluate your transaction history and may partially refund your security deposit at its discretion.
Q10: How can I apply to cancel my merchant status?
A10: You can apply by contacting online support or sending your UID and the reason for your application to P2P@bingx.com. Once we received the application, it will be processed within 2 to 3 working days. Please ensure you have no ongoing orders and no orders within the past 48 hours (including appealed, completed and canceled orders) before applying. Otherwise, we'll be unable to process your application.
Q11: Why was my merchant application declined? What are the common reasons?
A11: You can see the specific reason after your application is declined. If you have further questions, please contact our online customer support.
Common reasons for rejection include:
- Insufficient P2P trading history or trading activity on our platform.
- Insufficient merchant security deposit in your Fund Account.
- Limited P2P trading history or activity on other platforms.
- Account identified with potential risk, making it ineligible.
- Need to increase your security deposit before applying again.
Q12: Why can't I submit a merchant application again?
A12: If your merchant application is rejected, you will not be able to resubmit a new application for a specified period of time. You can view the specific reason for rejection and the required waiting period on the application page. After meeting the conditions and waiting for the specified time to pass, you may reapply to become a merchant. Click here to apply for merchant status
Notes:
The current waiting period for merchant application cannot be adjusted or cancelled. Please wait patiently until the end of the waiting period before attempting to resubmit your application.
- The length of the merchant application waiting period is determined based on several factors, including application frequency and trade history risk. Therefore, the waiting time varies for each user. The system will automatically determine an appropriate waiting period based on actual conditions to ensure the safety and fairness of the review. Please wait patiently until the countdown ends before attempting to resubmit your application.
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Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material is for reference only and should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions. BingX is not responsible for any losses you may incur.
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