How Do I Avoid Transaction Problems on DigiFinex P2P?

As one of the first crypto trading modes available, peer-to-peer (P2P) trading lets you directly exchange crypto with other users without an intermediary. What’s more, sellers have the freedom to choose how they want to be paid, and buyers have the flexibility to trade crypto at their preferred prices. P2P exchanges like DigiFinex P2P offer users the best liquidity and robust security, as well as over 700 payment methods and 100 local currencies. 

Although P2P platforms offer buyers and sellers more freedom and flexibility, there are instances where a transaction doesn’t go as smoothly as planned. While the vast majority of transactions on DigiFinex P2P occur without problems, users should be aware of potential issues that may occur and how to resolve them. This guide will show you how to avoid P2P transaction issues so you can experience more seamless trading on our P2P platform. 

How to Avoid Common P2P Transaction Issues

1. The buyer marked the order as paid but the seller didn’t receive the payment 

We understand that this is a stressful and frustrating situation for a seller. However, new users who are simply testing the platform may find themselves in this scenario. They end up marking the order as paid to check out the buying process without any intention of buying crypto. 

What can I do as a buyer? 

Don’t test out the P2P transaction process on the P2P platform if you don’t intend to buy crypto, as this can cause issues for sellers. More importantly, always double-check that you’ve made the payment amount specified by the seller before marking the order as paid. To learn more about buying crypto on DigiFinex P2P, check out our in-depth guide on How to Buy Cryptocurrency via P2P Trading on DigiFinex App.
If you’re new to DigiFinex P2P and want to learn more about the platform, consider reading our blog DigiFinex P2P Newbie Guide.

What can I do as a seller? 

Before filing an appeal, try to resolve the issue by contacting the buyer via the chat function to notify them that you didn’t receive payment. If they are unresponsive or unable to provide any payment proof, you can raise an appeal by clicking the [Appeal] button. Our customer service team will ensure that your issue is resolved ASAP. 

2. The buyer made payment but the seller didn’t release the crypto 

As a new P2P user who’s just made their first crypto trade on the platform, we know it can be alarming if the counterparty doesn’t honor their side of the agreement.

What can I do as a buyer? 

Don’t panic. Try resolving the issue with the seller directly by contacting them via the chat function. Let them know you’ve made the payment by sharing your payment proof in the chat and remind them to release the crypto.

If they’re unresponsive or uncooperative, you can open an appeal by clicking the [Appeal] button at the bottom of the page. Our customer service team will step in and communicate with all parties involved in the dispute.
Additionally, you can even start trading with our new lightning merchants to avoid such transaction problems in the future. Our lightning merchants support automated payment methods on P2P which release the crypto in escrow automatically once an accurate payment is made. With limited manual intervention, your transactions are faster, safer and much more convenient.
For more information on lightning merchants, check out our blog on What Does DigiFinex P2P’s New Lightning Badge Mean?

What can I do as a seller? 

Reach out to the buyer through the chat function and request for a proof of payment to check whether your details have been correctly entered. If you find that they have paid via the wrong payment method, paid the incorrect amount or made a third party payment, try resolving the issue with them directly. Remind them of the correct payment method and amount as well as DigiFinex P2P’s policy of not allowing third party payments. If they are unresponsive or choose to escalate the situation, raise an appeal and our customer service team will step in. 

3. The buyer used a different payment method from the one specified by the seller 

This generally happens to newer users unfamiliar with the payment process on DigiFinex P2P. In such cases, if the seller denies the transaction, the only thing we can do is cancel the order. 

What can I do as a buyer? 

Only make transfers using the payment method specified by the seller in the ad. Always read the ad details carefully and only transact with users who list a payment method you’re comfortable using. 

No matter how attractive a seller’s prices are, don’t trade with them if you can’t make payment via their preferred payment method. You should also only mark the order as paid once you’ve made the correct payment amount with the method specified by the seller in their ad. 

What can I do as a seller? 

Contact the buyer via the chat function on the order page to let them know they’ve paid through an incorrect method. Refund the amount to their source account and specify the correct payment method in the chat and ask them to send the funds again. If they are unresponsive or uncooperative, file an appeal so you can solve the issue with the help of our customer service team. 

4. The buyer transferred the payment to the seller’s old bank account that’s no longer in use

If both users have trading history with each other, the buyer could end up transferring funds to the seller’s old bank account, only to find out later that this account is no longer in use.  

What can I do as a buyer? 

Always read the ad details carefully, use the bank account information mentioned in the order, or confirm the account details with the seller before transferring funds to them. Don’t make payments to a seller’s account without confirming the ad details – even if you have trading history with each other. Sometimes, a seller may change their account and you might transfer money to an account that’s no longer used by the seller.

What can I do as a seller? 

Message the buyer through the chat function to check which payment method they used. If you’ve received the funds but can’t access them, share valid payment proof from the buyer and contact the bank to reverse the payment. Don’t contact the counter-party outside the DigiFinex P2P chat, as this will make it more difficult for our customer service team to assist you should you file an appeal.

5. The buyer has made payment via a third-party transfer 

This situation commonly occurs when a buyer makes payment through a bank account other than the one stated in their ad, and the seller won’t release the purchased crypto as doing so would violate P2P policies. 

What can I do as a buyer? 

Always double-check the account details you have stated on the DigiFinex P2P app, and only make transfers from that account. Third-party transfers or transfers made from someone else’s account don’t comply with P2P policies. This means our sellers can’t accept such payments.

Note: Make sure to check your DigiFinex-verified name before placing orders. You can do so by going to the DigiFinex P2P page, then clicking through to the payment methods page. There, try adding a new payment method by clicking on “Add a payment method” and selecting from the given options (you can choose from any payment method). When you add a new payment method, your verified name should be pre-filled in the account holder field. If this name is correct, then your verified name is accurate. If there is a mismatch in your verified name and the name in the account holder field, please reach out to our support team via live chat and ask them to immediately correct your name as per the identity verification documents you’ve submitted.

What can I do as a seller? 

Message the buyer via the P2P chat on the order page and ask for their source account details. Once shared, initiate the full refund only to the source account. More importantly, keep your interactions within the P2P chat, or you’ll find it difficult to make a case if you end up having to open an appeal. 

Note: If the buyer name in the payment proof does not match with their DigiFinex verified-name, try reaching out to the buyer to inform them. At times due to a technical glitch, the buyer’s verified name may show up as a mismatch. You can always raise an appeal and confirm the name with our appeal agents. If it turns out to be a third party payment, you can proceed to make a full refund. 

Get Started with DigiFinex P2P

To start trading on DigiFinex P2P, simply sign up for a DigiFinex account or download the DigiFinex app. Once you’ve completed the identity verification process, you can start seamlessly trading crypto on the DigiFinex P2P exchange.

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