Step 1: open WBFex APP whose download address is https://www.wbfex.com/#/download. Click transaction - Fiat transaction (if not shown, please uninstall and download the APP again.)
Step 2: click "please select payment methods" and set the payment method. (if it is already set, please ignore this step)
Step 3: add payment methods - Alipay/WeChat/bank card, and fill in accordingly. (The platform merchants only support bank cards for the time being, so users must add card payment method.)
Step 4: input quantity or amount of purchase or sale. Click "please choose payment methods" and click the following payment methods-bank card.
Step 5: pay to the merchant within 15 minutes. Click "paid" after payment. Wait for merchants to release currency.
- What is OTC transaction?
Fiat transaction refers to point-to-point transaction between users, in which the buyer pays by off-site transfer, and the merchant confirms it and release currency after receiving the payment. All WBFex merchants have promised that their funds are legal and reliable.
- What can OTC transaction do?
Users can freely use fiat such as RMB, US dollar, Euro to buy and sell digital currency, and can also sell digital currency into fiat such as RMB, US dollar, Euro and others.
- How to buy digital currency?
After logging in WBFex platform for real-name authentication and setting the payment methods, place an order ->pay by off-site transfer -> click "Paid" -> and wait for release.
- How to sell digital currency?
After logging in WBFex platform for real-name authentication and setting the payment methods, transfer the assets of the spot account to the fiat account, place an order ->, wait for payment of buyers -> click "confirm payment and release".
- Will information of the merchant be made public?
Merchant information is only displayed in “Orders”in which users can check details after the order is generated.
- Worried about no currency after payment?
When you place an order and enter the transaction as a buyer, the seller's currency will be locked in the platform's wallet, so you don't have to worry about it.
If you do not receive the currency 15 minutes after payment, please contact our customer service team for help.
- Why did I click "paid" but not receive the currency?
Firstly make sure you have actually paid.
Note: WBFex OTC only displays buy & sell information. The actual payment process is completed between you and the seller outside the platform. It is not the mark of “Paid” that represents the automatic transfer from your bank card to that of the seller.
- Why can I sell but not buy?
When the buyer cancels the transaction too frequently, the buyer will be restricted from buying during the trading hours. If the buyer cancels 3 times on the day, his/her buying function will be limited on the day.
- Under what circumstances can I cancel an order in an OTC transaction?
After the order is generated, the unpaid order can be cancelled in “order management”.
- How long does it take to make payment after buying the digital currency?
Be sure to pay within 15 minutes after setting an order. Click " paid" immediately after the payment. The order will be cancelled if the payment is not completed within 15 minutes, and the buying function will be restricted after three cancellations.
- How long does it take to confirm and release the payment for the sale of digital assets?
The system will temporarily freeze your single digital asset while the merchant pays the order. Upon payment by the buyer, your asset will be transferred to the merchant account. Please wait patiently for the merchant’s transfer. Click "confirm and release" immediately after receiving the payment. If you do not click "confirm", the payment will be automatically released to the merchant within 30 minutes. If you failed to receive merchant’s payment, please contact customer service immediately.
- Can i resume next operation in case the single order was not completed?
If a single order was not completed, please suspend and resume after completion.
- In an OTC transaction, the buyer clicks “paid” but failed to pay the order.How to deal with it?
Please contact customer service in time. If you do not want to resume this order, relevant personnel will help you to cancel the order.
- What should be done if an abnormal problem occurs in an OTC transaction?
Save the relevant screenshot as a certificate. After placing the order, you can contact the customer service to launch a complaint, and the staff will respond to your questions timely.
- What is the fee for an OTC transaction?
At the moment, OTC transactions are free of fees.
- What is the time for an OTC transaction?
Merchants’ processing time is from 9:00a.m to 18:00p.m, and other time is unavailable. Note: the channel of fiat transaction will be temporarily closed for smooth transaction.