Introduction to Security Deposit
To ensure safe P2P trading and enhance merchant credibility, CoinEx introduces merchant security deposit. After paying the security deposit, P2P merchants will enjoy additional privileges and provide users with a more reliable trading environment.
Security Deposit Guidelines
1. Paying security deposit
Step 1: Log in to the Merchant Dashboard
Navigate to [P2P Trading] in the top menu bar > [Merchant Dashboard] > [Overview].
Step 2: Select deposit payment
Please make sure that there’s sufficient balance in your Spot Account to avoid payment failure.
Step 3: Complete payment
After successful payment, a "Security Deposit Verified" badge will appear on your merchant dashboard, and you will be able to post ads immediately.
2. Refunding security deposit
Step 1: Log in to Merchant Dashboard, and click [Cancel Merchant Status].
The system will verify if you meet the cancellation requirements.
- If eligible, you can cancel your merchant status immediately.
- If ineligible, you may have pending orders or appeals. Please complete these orders or contact customer support.
Step 2: After your merchant status is successfully canceled, your security deposit will be refunded to your Spot Account within 48 hours.
Step 3: After the refund is completed, you can check the deposit status in the asset history of your Spot Account.
FAQ about Security Deposit
Q1: Why is a security deposit required? Can I opt out?
CoinEx has introduced the security deposit to standardize operations and create a trustworthy business environment, where users feel more confident trading with merchants. Additionally, we will allocate more resources to quality merchants, providing greater in-site exposure and participation opportunities in activities.
Q2: What happens if my security deposit falls below the requirement?
If the security deposit falls below the required amount due to compensation, merchants will have a 14-day grace period to pay the outstanding amount. If not replenished by the deadline, your merchant status and privileges will be restricted.
Q3: Can multiple accounts share one security deposit?
No, each account must maintain its own independent security deposit.