LBank Web C2C Trading Guide: Detailed Cryptocurrency Buy and Sell Process

LBank C2C Trading Zone Overview

LBank Exchange offers Peer-to-Peer (P2P) or Over-the-Counter (O2C) trading services, enabling users to directly buy and sell cryptocurrencies using fiat currency. This model allows users to transact via bank transfers and various e-wallets such as Apple Pay, Cash App, PayPal, Payeer, Zelle, Perfect Money, Advcash, and Wise. LBank's O2C market supports over 100 payment methods for trading mainstream cryptocurrencies like USDT, BTC, ETH, and USDC. The platform acts as an escrow in transactions, ensuring that the seller confirms receipt of payment before releasing the cryptocurrency, thereby guaranteeing transaction security, and claims to offer zero-fee transactions.

Account Preparation and Accessing the C2C Trading Zone

Before starting LBank C2C transactions, users need to complete the following preparations:

• Registration and Login: Visit the official LBank website and log in to your account.
• Identity Verification (KYC): Complete the necessary identity verification process. This helps unlock higher trading limits and all platform features.
• Fund Preparation: If you plan to sell cryptocurrencies, ensure you have sufficient USDT or other C2C-supported cryptocurrencies in your Spot Account. If you intend to buy cryptocurrencies, you need to prepare the corresponding fiat currency.

After completing account preparation, you can access the C2C trading zone via the "Buy Crypto" or "P2P Trading" options in the LBank website's navigation bar.

Buying Cryptocurrency (Example: USDT)

Here are the detailed steps to buy USDT in the LBank C2C trading zone:

1. Select "Buy" Option: On the P2P trading page, click the "Buy" tab.
2. Select Fiat and Cryptocurrency: Choose the fiat currency you wish to use (e.g., USD) and the cryptocurrency you want to buy (e.g., USDT).
3. Add Payment Method: Click the three-dot icon in the top right corner of the page, select "Manage Payment Methods," then "Add Payment Method." Choose your preferred payment method (e.g., bank transfer, e-wallet) and enter the details.
4. Select a Merchant: Browse the list of available merchants, view their supported payment methods and buy prices. Choose a merchant you trust and who meets your needs.
5. Enter Amount: Enter the fiat amount you wish to buy or the quantity of cryptocurrency you wish to receive. The system will automatically display the order details.
6. Make Payment: According to the order information, make the fiat payment to the account provided by the merchant via your chosen external payment platform.
7. Confirm Payment: After completing the payment, be sure to return to the LBank platform and click the "I have paid" or "Confirm" button to notify the merchant that you have completed the payment.
8. Wait for Release: Once the merchant confirms receipt of your fiat payment, the LBank platform will automatically release the cryptocurrency to your LBank account.

Selling Cryptocurrency (Example: USDT)

Here are the detailed steps to sell USDT in the LBank C2C trading zone:

1. Convert Currency (if needed): If you are not selling USDT, you need to first convert it to USDT or another C2C-supported currency (e.g., BTC, ETH, USDC) in the Spot Market.
2. Select "Sell" Option: On the P2P trading page, click the "Sell" tab.
3. Select Fiat and Cryptocurrency: Choose the fiat currency you wish to receive and the cryptocurrency you want to sell (e.g., USDT).
4. Add Receiving Method: Ensure you have added and verified a receiving method for fiat currency (e.g., bank account, e-wallet).
5. Select a Merchant: Browse the list of available merchants, view their supported payment methods and sell prices. Choose a merchant you wish to trade with.
6. Enter Amount: Enter the quantity of cryptocurrency you wish to sell. The system will automatically display the order details.
7. Confirm Order: Carefully review the receiving information and order details, then click "Sell USDT" and confirm.
8. Wait for Buyer's Payment: Wait for the buyer to transfer the fiat currency to your provided receiving account.
9. Verify Receipt: Always log in to your bank account or e-wallet to confirm that you have received the full fiat payment from the buyer.
10. Release Cryptocurrency: After confirming receipt, return to the LBank platform, enter your fund password, and click "Confirm" to release the cryptocurrency to the buyer.

Transaction Management and Seeking Help

During LBank C2C transactions, you can manage transactions and seek assistance in the following ways:

• View Transaction History: In your LBank account's "Order Center" or "O2C Account," you can view all historical transaction records.
• Seek Help: If any issues arise during the transaction, you can first contact your trading counterparty via the "Chat" window within the order. If the issue remains unresolved, you can click "Appeal" or the yellow "Chat" bubble icon to contact LBank customer support.