OKEX launches p2p verified advertiser program to achieve and maintain the platform credibility in terms of trust and security of financial transactions. OKEX solve the problem of the entry barrier from fiat to crypto and exit barrier from crypto to fiat by implementing the most common and popular method of p2p trading system, where the person to person trading occurs in such a secure and trusted way where both parties are connected with predefined organized rules of financial transactions.
The merchants can make money by full filling the p2p orders as well by trading the available balance they have in the fiat and crypto volume. This writing will help you understand how a new candidate can apply as a p2p merchant and make money from it.
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Overview Of OKEX P2P Advertiser Requirements
Currently following things are required to Become P2P Verified Merchant.
- Complete Your Secureity Settings.
- Complete Your Payment Method Settings.
- Complete level 2 or level 3 verification.
- Your assets balance should be above equalent to USDT 3000.
How to apply for OKEX P2P Verified Advertiser Merchant?
To apply for the OKEX p2p merchant program go to the link be an advertiser from the p2p desktop or mobile version portal after fully filling the above-mentioned requirements. Click On the Apply Now Button and continue to submit the merchant application required form.
In the proof of residence, you can upload a real estate certificate/rental contract/utility bill/Bank statement .real property certificate must show the owner’s name, real estate address, and seal of the issuing authority; the rental contract must show the tenant’s name, rental address, owner’s seal and both parties ID number; utility bill must be the latest month and the payment address can be seen.
According to OKEX, the p2p merchant application will be responded to within 3 business or working days. Normally in our experience, your application is approved in an ideal time within 10 to 15 hours. In case you didn’t receive a response from the OKEX team you can lodge a ticket for application escalation from the live chat support option or you can refer to your relative p2p trading telegram groups to directly inform the moderators to expedite your application response.
Following are the OKEX p2p Telegram Different Region Groups.
After successful approval of your p2p merchant program application head over to the p2p dashboard workstation and start creating ads.
Watch How To Create Sell Advertisement in OKEX P2P Desktop Workstation
Watch How To Create Buy Advertisement in OKEX P2P Mobile Version
Fixed Vs Floating Prices
While creating p2p ads you will see the two types of order price type one is floating price and the second is a fixed price let’s look at both differences one by the other.
Fixed Prices Order Type: In the fixed prices your ad visibility will be shown according to the ranking of other merchants competent provided prices. let say at selling ad fixed prices are selected based on your personal preferences, the price will be static and never changes occur on your ad published or order completion prices with actual market volatility.
In case the prices increase on the order book or higher positive or negative volatility occur in the prices your ad ranking will be either adjusted on top of the buy wall or at the lowest ranking of the buy wall. In case of unaware order processing without manually monitoring or calculating your profit margin that can affect your profitability often negatively.
Floating Prices Order Type: In the floating prices your ad visibility will be shown according to the ranking of other merchant’s competent provided prices by adjusting with the latest order book prices. let say in Buy ad floating prices are selected based on your personal preferences, the price will be dynamic and changes occur on your ad published or order completion prices with actual market volatility.
In case the prices increases on the order book or higher positive or negative volatility occur in the prices, your published advertisement prices will also be adjusted with the percentage you have selected on your order type floating prices. Your profitability will also be adjusted with the market volatility price flow and the order volume ratio will not affect much if your entered floating price margin is not far away from the higher possible volume range.
Earning Potential From P2P Trading
Let say you have 1000 USDT trading volume for p2p trading and you have sold 500 USDT to your native bank account like Vietnamese dong VND 11,715,000 at the price of 23,430 VND per USDT and then again bought 507 USDT at a price of 23,100 VNDof per USDT, so we made about 7 USDT profit in 163,520 VND. If you trade about 10 times the 1000 USDT amount will be in total 10,000 USDT volume and 10×7 = $70 profit after trading 10 times your available volume in your fiat and crypto balance.
P2p trading earning potential increases as the order volume increases and the number of times your volume is traded in a shorter period of time. Your banking transaction limits and the GOVT taxes also apply which will eventually affect your profitability and margin ratio.
OKEX P2P Ad Counterparty Filter Settings
The system offers you various filter options such as the counterparty registration period, order completion ratio and time payment window, etc to avoid a higher number of cancelations on your workstation and smooth order process experience. Keep in mind adding more filters will decrease the incoming order probability as the platform is relatively new and the new user registration volume is high.
Being a merchant you can join orientation sessions via zoom with the OKEX p2p training team to learn about how to avoid scams or funds loss while trading on p2p as a merchant order processor. How you can manage third-party payments and other affairs while working as a merchant at OKEX. You can learn more about p2p scams and aware your self about the p2p eco-system on curexmy and become a seasoned p2p merchant.