What are OTC transaction regulations?
Note for buyers
Please complete your payment within 20 minutes and click “I have paid“. If the buyer cancels the transaction within the time limit, the system will record this as a cancellation order.
- A taker may only make one buy/sell transaction over all digital assets at a time (e.g. you cannot execute an order to buy BTC/ETH/USDT if the previous order has not been completed).
- If the buyer cancels 3 transactions/day, they will not be able to make any further buy/sell on that day as a taker.
- Please do not click “I have paid” when you have not actually transferred money to the seller because when a dispute arises, based on the evidence of the transaction, it is considered as malicious act. If there are any disputes regarding this transaction, your account will be restricted for trading within 7 days.
- To ensure successful transactions within the specified time limit, please select banks that allow fast transfer such as VPBank, Vietinbank, TienPhong Bank, ACB, Sacombank, etc.
- The seller’s digital assets related to the uncompleted transactions will be locked on T-Rex’s system to ensure the rights of both parties.
- After 5 minutes since the buyer clicks “I have paid” but the seller has not yet received the transfer, the seller has the right to open a dispute. The T-Rex team will support the two parties to resolve disputes.
Note: When the buyer transfers payment, you must write the “Order ID” provided in the content box. Please do not add any other content such as BTC, bitcoin or digital assets to avoid unsuccessful money transfers and account blocking on T-Rex Exchange.
Note for sellers
- When selling digital assets, please check the selling price carefully before creating an ad and you will bear sole responsibility for this price.
- If the seller does not receive money within 5 minutes after the buyer clicks “I have paid”, the seller may open a dispute on this transaction.
- If the buyer clicks “I have paid” when the transfer has not been made or has not reached the seller’s account within 5 minutes, the seller can open a dispute and the Customer Support department will assist with resolution.
- Please release the digital asset immediately after you receive the transfer of the buyer through the bank account. If you do not release the digital assets, the buyer is entitled to open a dispute, T-Rex will then freeze your digital assets until the dispute is resolved.
- To make sure the transaction is successful within the specified time limit, please stay online when you create an ad and make transactions on time. If you cannot be sure to timely process the order, please cancel the ad to avoid unnecessary disputes.
Note: T-Rex has a Dispute Settlement system to track disputes that occur during transactions. We may decide to freeze the account in the following cases: suspicious transactions and payments.