CNYT is 1:1 with RMB equivalent digital currency. In the C2C trading, users can buy CNYT from verified merchants in order to buy digital assets such as bitcoin. When users need the fiat currency, they can sell CNYT to get RMB.
- Users need to complete the KYC before C2C transactions
- All merchants are verified and provide the equal amount of security deposit. Users can trade safely. Each transaction will freeze the corresponding amount of assets to ensure the transaction security.
- Users need to bind their phones first to receive SMS alert which related to the transaction
Buy CNYT Tutorial
Step 1：Select seller and Create buy order
First choose a seller and click “Buy” to next step
Step 2：Confirm buying amount and Payment method
Click “buy” to next step
Step 3：Make payment and Confirmc
If you change your mind, you can click “cancel order”; if you paid to the seller and the transaction finished, you can click “confirm payment”
(If your purchase order is not paid in 30 minutes, the system will automatically cancel your order)
Step 4: Seller confirm payment received and complete trade. Buyer will receive an SMS alert (9;00—21:00 UTC+8, after this period, it may be delayed if the seller fails to confirm the payment on time. If the delay exceeds 24 hours, please contact the customer service for help)
Sell CNYT Tutorial
Before sell CNYT, the user has to link bank account（Name of bank account need to be the same as your KYC），otherwise, buyers couldn’t pay the transaction.
For payment method, we only support bank account.
Step 1：Confirm sell amount and Select receiving bank account
Confrim sell amount,actual receiving amount,and select receiving bank account,then click “Create Order” and there is a new order on your account. (Each account can make no more than 10 sell orders every day)
Step 2: Wait for buyer to make payment
(when a buyer paid, there is an SMS alert for the seller)
Step 3: Confirm payment received and Release CNYT to buyer
Click “Check Details” you can see the related payment information. If your bank account received corresponding fiat currency, click “Confirm Payment”. The system will distribute the corresponding amount of CNYT to buyer’s account.
If no payment received in the corresponding bank account, click "Abnormal Transaction" and contact the customer service as soon as possible to handle abnormal transactions.