Online trade

published on:2016-12-28 16:55:46Updated on:2016-12-28 16:53:31

The online transaction contains the online sale of the bitcoin you sold to the buyer and the online purchase of the bitcoin you bought form the seller. We'll focus on selling bitcoin first, because selling is the most common type of transaction.

First, you need to create an online bitcoin advertisement (called an online sale Ad). When creating an ad, you should select the method of payment, set the price and limit, and write the terms of the transaction in free form. You will then need to recharge the money into your BitcoinWorld wallet with bitcoin. Your BitcoinWorld wallet requires net assets (either bitcoin assets or money assets) so that customers can initiate transaction requests through your Ad. When a buyer initiates a transaction, the full bitcoin of the transaction is automatically deducted from your wallet and kept in escrow. You need to provide payment instructions to the buyer and instruct the buyer to pay for the transaction. When someone replies to your Ad, you will receive an email and a website message. After the buyer pays and click the “Payment completed” button, you will receive a transaction payment notification from email and website. After confirming receipt of payment, you need to release bitcoin. This transfers the bitcoin from hosting to the buyer's bitcoinWorld wallet. The final step is to leave feedback to the buyer and encourage the buyer to leave feedback for you. Feedback is important for gaining credibility and doing more transaction.

Before starting a transaction, you need to consider your own supported payment methods and study the method of payment to see how it is used. In the first transaction, we do not recommend that you choose a high-risk payment method. In the beginning, it is a good way to specify bank transfers, especially if there are fewer active traders in your country's/area.

If your new account does not have a trading history and you want to buy and sell bitcoin, we recommend that you respond to existing Ads first. This will help you understand how the transaction works and accumulate some transactions to increase the credibility of your account. Conversely, good trading records will make your Ads better positioned in the presentation.

Just starting a bitcoin transaction requires some trading experience, and a new account will be difficult to find users who respond to your Ads. Contacting other traders to buy and sell bitcoin can help you get the first batch of feedback and trading records. The more trading records and feedback you have, the higher the credibility of your account.

It is best to verify your account by phone verification and profile backup. Verified accounts are more trustworthy for buyers, which helps you get more customers.

Before starting the transaction, make sure you are familiar with local regulations, comply with any relevant laws, and have obtained the necessary business licenses within the jurisdiction where the transaction takes place. The law varies by country / region and is also related to whether you are dealing with individuals or companies.

Carefully examine the method of payment you want to provide. Carefully read and trade with other traders who use the same payment method. Try to find possible problems before you start trading. Search exchange forum is also a good choice. We recommend that you use low-risk payment methods to trade, and see below for more information about payment methods.

Filling in the terms of the transaction as much as possible to describe clearly the transaction process you require and KYC requirements, such as the seller can be detailed description of your request to receive the remittance before the currency, buyer indicate the need to escrow before remittance, in order to avoid increased follow-up communication costs.

Last but not least, you should be prompted to do the next step as soon as possible under the premise of security, because your quick feedback can leave you with a good track record, which will determine whether your next transaction can be carried out quickly.


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