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.
How to pay the Merchant Security Deposit?
1. Visit CoinEx official website (https://www.coinex.com), log in to your account, and select [P2P Trading] > [Post Ads] under [Buy Crypto] in the top navigation bar to go to the margin payment page.
Note: If you are reapplying for merchant status after revoking, please go to [P2P] > [Merchant Dashboard] > [Overview]. On the Overview page, click [Apply to Become a Merchant] to go to the margin payment page.
2. Read the rules, check the agreement box, and click [Submit] to pay the margin.
Note: If the Available Balance in the Spot Account is insufficient, you can click the [+] button to supplement it either through Deposit or Transfer.
3. After successful payment, a "Security Deposit Verified" badge will appear on your merchant dashboard, and you will be able to post ads immediately.
How is the Security Deposit refunded?
1. Log in to the Merchant Dashboard and click [Cancel Merchant Status]. The system will verify if you meet the cancellation requirements.
- If eligible, you can cancel the merchant status immediately.
- If ineligible, you may have pending orders or appeals. Please complete these orders or contact customer support.
2. After your merchant status is successfully canceled, your security deposit will be refunded to your Spot Account within 48 hours.
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.