Dear CoinEx Users,
CoinEx has supported the buying and selling of USDT with 20+ fiat currencies and 300+ payment methods since the launch of P2P Trading. To further protect user rights and improve the trading environment, we now introduce the Merchant Security Deposit starting Mar 7, 2025 (UTC). Below are the details of this initiative:
Effective Date of Merchant Security Deposit
The Merchant Security Deposit will take effect on Mar 7, 2025 (UTC). From this date, all P2P merchants will be required to provide a security deposit in compliance with platform guidelines.
Merchant Security Deposit Payment Guidelines
1. For Existing Merchants
(1) Merchants registered on or before Mar 7, 2025 (UTC) must pay the required security deposit through the Merchant Dashboard by Mar 14, 2025, 00:00 (UTC).
(2) Failure to meet the deadline may result in restricted merchant access, such as the inability to post advertisements or accept orders. Merchants are encouraged to complete the payment promptly to avoid disruptions.
2. For New Merchants
From Mar 7, 2025 (UTC) onwards, only users who have completed advanced identity verification and paid the required deposit in full will be eligible to apply for merchant status activation. Approved merchants will be eligible to post advertisements.
How to Pay the Merchant Security Deposit
- Web: Log in to the CoinEx website - navigate to Merchant Dashboard - Account Management - Merchant security deposit >>
- App: Currently unavailable on the app
Important Notes on Merchant Security Deposit Payment
1. Adherence to deadlines: Merchants are strongly encouraged to follow the specified timelines. Failure to pay the deposit by the deadline may result in restrictions on P2P merchant access.
2. Fund security: All merchant security deposits will be securely held in a dedicated account on the platform. Merchants can apply for a full refund of their deposit upon revoking their merchant status. Refunds will be processed within 2-3 business days following a successful review.
3. Dynamic adjustments: CoinEx will periodically evaluate merchant performance and reserves the right to adjust the required deposit amount. Any changes will be communicated through official announcements or in-site notifications.
At CoinEx, we remain committed to protecting the interests of our users and merchants. We aim to foster a secure and reliable digital asset trading ecosystem and ensure a seamless experience for all participants. Together, let’s build a safe and reliable trading environment.
CoinEx reserves the final interpretation of this announcement.
CoinEx Team
Mar 7, 2025