What is InstantPay?
Summary While selling crypto, you can now trade with offers with the "InstantPay" badge. This allows you to receive immediate cash payments into your bank accounts when selling crypto. Trading with InstantPay offers means that your transactions will be much faster, safer, and more convenient for all parties involved. What does InstantPay mean for you? Whether custodial or non-custodial, one of the biggest drawbacks of peer-to-peer platforms is the time it takes for users to coPopularWhy do I need to do KYC before buying and selling crypto on Onboard?
Onboard allows you to exchange crypto for cash via peer-to-peer trades with other users (aka merchants). Because Onboard is peer-to-peer and decentralized (we don’t have access to any of your funds, even during trades), we need to take extra steps to ensure safety and security for our users, and prevent bad actors from the system. To make sure of this, we ask every transacting user to verify their identity. To verify your account, you’ll need to provide a proof of ID (such as an internationaFew readersWhat local currencies and payment methods does Onboard support?
Currently, Onboard supports the Nigerian currency (Naira) and the following payment methods: bank transfers mobile wallets. We're constantly adding new currencies and payment methods, and would be happy to hear more about your needs. Feel free to add your suggestions here.Few readersAre there transaction limits on Onboard?
There are no limits on sending, receiving and swapping crypto on Onboard Wallet. However, for cash withdrawals & deposits, there may be limits. For customers: Minimum of $2 per transaction Maximum of $2000 per transaction Maximum daily limit of $6000 For merchants: There are no transaction limits.Few readersHow do I manage my payment methods on my Onboard account?
Your payment methods are accounts where you want to receive cash whenever you sell crypto on Onboard. Before you can add a payment method, your profile needs to be verified. Adding payment methods Once verified, you can manage your payment methods through one of the following ways: By adding a new account anytime you sell crypto. If you have a payment method already saved, you can click on any of the listed payment methods to select it for that transaction. Select Payment Method (htFew readersWhat happens if something goes wrong with my transaction?
If there is a problem with your transaction, you can report the transaction by clicking on the Report button within the ongoing order. When should you report a transaction? Before reporting, try to resolve the issue with the counter-party by using the Chat functionality, or contacting them via a call or Telegram, for faster resolution. However, if you are both unable to resolve the issue, you can Report the transaction. This creates a dispute chat which includes you, the merchant and an OFew readersOnboard P2P Exchange Fees: Your Questions Answered
What does it cost to use Onboard's P2P Exchange? It depends! Onboard P2P offers multiple ways to buy and sell crypto with cash: InstantPay: For those who prioritize speed and convenience, InstantPay allows you to buy and sell crypto with cash instantly, without needing to interact with anyone. We charge a small fee of 0.5% for this service, which helps us cover the additional costs involved in facilitating these faster transactions. Regular P2P: Using this payment option is frFew readersWhat wallets can I use with Onboard Exchange?
Onboard Exchange is compatible with self-custody wallets (also known as Web3 Wallets) such as Trust, Coinbase Wallet. All you need to do is ensure your wallet is connected to initiate seamless trades. Onboard Exchange is also embedded within the Onboard Wallet, to facilitate easy swapping of crypto assets to cash and vice-versa on your Onboard Wallet.Few readers