In the digital currency trading market, the fiat currency OTC trading area has always played a vital role. As one of the well-known exchanges, 58COIN's fiat currency OTC trading area has attracted much attention. This article will explore the fees and common problems of 58COIN's fiat currency OTC trading area in depth, and take you to find out.

Fees Revealed

The fees of 58COIN's fiat currency OTC trading area are one of the focuses of investors. Here, we will analyze 58COIN's fee structure in detail to help you better understand the transaction costs.

First of all, the main fees charged by 58COIN's fiat currency OTC trading area include transaction fees and platform usage fees. Transaction fees refer to the fees that users need to pay when conducting buying and selling operations, which are usually calculated as a certain percentage of the transaction amount. The platform usage fee refers to the fees that users need to pay when using the 58COIN platform to trade, which can be understood as the cost of using the platform.

In addition, 58COIN may also set different fee levels based on factors such as user trading behavior and transaction frequency to meet the needs of different users. Therefore, when choosing to use 58COIN's fiat currency OTC trading area, investors need to carefully understand and compare the various fees in order to make rational decisions.

FAQ

In addition to the tariff situation, investors may encounter some common problems when using 58COIN's fiat currency OTC trading area. Below, we will answer some common questions to help investors better use this trading platform.

1. How to ensure transaction security? 

As a well-known digital currency exchange, 58COIN pays attention to the security of user assets. The platform uses multiple encryption technologies and security protection measures to ensure the security of user transaction data and assets. In addition, users can improve the security level of their accounts by setting fund passwords, Google verification, etc., to effectively prevent risks.

2. What is the transaction process? 

In 58COIN's fiat currency OTC trading area, users can trade by posting transaction advertisements or browsing advertisements. The two parties to the transaction can negotiate the transaction price and quantity independently, and complete the fund transfer through the platform after the transaction is reached. The entire transaction process is simple and efficient, which is convenient for users to complete transactions quickly.

3. How to resolve transaction disputes? 

During the transaction process, if there are disputes or problems, users can seek help through the customer service channels provided by the platform. 58COIN's customer service team will respond to users' questions in a timely manner, assist in resolving transaction disputes, and protect user rights.

4. How to improve transaction efficiency? 

In order to improve transaction efficiency, users can choose to cooperate with trading partners with good reputation and high transaction success rate; at the same time, reasonably setting transaction advertisements and timely replying to messages are also the key to improving transaction efficiency.

By answering the above common questions, we hope to help investors better understand and use 58COIN's fiat currency OTC trading area and achieve a more convenient digital currency trading experience.

Conclusion

In the field of digital currency trading, it is very important to choose an exchange with good reputation and high-quality service. As a highly recognized trading platform, 58COIN is committed to providing users with a safe and convenient trading environment. By deeply understanding the tariffs and FAQs of 58COIN's fiat currency OTC trading area, I believe you can trade on this platform with more confidence and achieve the goal of wealth appreciation. May your investment be smooth and your harvest be rich!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

58COIN Fiat OTC Trading Area Fees Buyer User Notice:

1. Registration, purchase and sale of digital currency are completely free.

2. OTC transactions are permanently free, 0 advertising fees, 0 internal transfer fees.

3. The platform does not charge users for withdrawal fees, but users need to pay network fees by themselves.

4. In order to protect the interests of sellers and ensure that the purchase advertisements are true and effective, the platform will temporarily freeze some corresponding digital assets, and return them to the advertiser after the transaction is completed or the advertisement is removed. The platform does not charge any fees.

The margin standards are as follows:

USDT: 1000

BTC: 0.1

ETH: 1

EOS: 10

LTC: 8

Summary of Common Questions in the Fiat OTC Trading Area of 58COIN Exchange

1. What should I do if I forget my login password for the 58COIN trading platform?

You can click Forgot Password on the homepage to retrieve your login password through your mobile phone.

Tips: If you enter the login password less than 6 times, you can log in normally after resetting. If you enter the wrong login password 6 times in a row, the account will be locked for 2 hours, and the system will automatically unlock it after 2 hours. If you enter the wrong login password for multiple times (more than 6 times) in a row, the account will be locked for 24 hours. It cannot be unlocked manually after being locked, and the system will automatically unlock it after 24 hours.

2. Click "I have completed the transfer" at the bottom right of the page, and the seller will receive a notification that you have paid. When it confirms that the payment has been received, it will release the digital assets to you, and then you can view your digital assets in your account.

3. In general, sellers usually release digital assets as soon as possible within the agreed time after receiving the payment. If you have paid but are still waiting, there is no need to worry, because all online transactions are protected by custody and the seller cannot take away your digital assets.

4. Platform-certified advanced merchants, with margin and official review by 58COIN Exchange, are safe, efficient and reliable.

5 The coins in the OTC account need to be transferred to the coin-to-coin trading account before trading. You can transfer money in the OTC account, select "Transfer from OTC account to coin-to-coin trading account", and then you can trade coin-to-coin.

6 The coins in the coin-to-coin trading account need to be transferred to the OTC account before they can be sold and withdrawn. You can select "Transfer from coin-to-coin trading account to OTC account" in the assets, and then you can trade and sell.

7. In the fiat currency OTC transaction, is there a limit on the number of advertisements posted by each account?

Each account can only place two advertisements at the same time for the same currency and the same direction (buy or sell orders). (For example, Bitcoin can have a maximum of two sell orders and a maximum of two buy orders; USDT can have a maximum of two sell orders and a maximum of two buy orders.)

8. What should I do if there are abnormal problems in OTC transactions?

If the seller encounters abnormal problems in OTC transactions, you can click the order appeal button at the bottom right of the page. After submitting the appeal, a staff member will respond to your question within 1 working day. If your page cannot be appealed, please send your UID, mobile phone number, order ID and detailed description of the problem to support@58btc.com, and the appeal acceptance team will help you verify and handle it.

9. In order to ensure that the advertisement you posted is true and effective, it is required as a default guarantee, which will be returned after the transaction is completed. If you do not want to pay a deposit, you can choose to buy/sell directly for trading.

10 Currently, for security reasons, the nickname can only be set once, and the user name cannot be changed for the time being.

11. In the OTC trading area

You can send an email to support@58btc.com to describe the problem in detail, and provide your contact information and your name. We will contact the project party to list the currency according to the situation.

12. During OTC transactions, the interface reminds you to complete advanced authentication. How to deal with it?

You need to complete advanced authentication in the OTC account, upload your real and valid photos of the front and back of the certificate and the photo of holding the ID card, and pass the review before passing.

13. What preparations should be made before publishing an advertisement?

First, you need to complete advanced authentication and bind your payment method. If you need to publish a purchase advertisement, please prepare enough margin. For the deposit amount, please refer to [58COIN Exchange OTC Trading Rules]

14. In OTC trading, under what circumstances do users need to complete advanced authentication?

There are two situations:

1: Advanced authentication is required before posting an advertisement;

2: Advanced authentication is required when the first transaction of an individual is greater than 5.000CNY or each transaction after the first transaction is greater than 10.000CNY.