Understanding Cryptocurrency Purchase Challenges
Buying cryptocurrency can sometimes present unexpected hurdles. Below, we address frequent concerns and provide actionable solutions to streamline your experience.
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1. "Insufficient Ad Balance" Error During Order Placement
When an ad lacks sufficient funds to cover your purchase amount, you’ll encounter this message.
Solution:
- Check the ad’s available balance in the listings.
- Select another ad with adequate funds and retry your order.
2. Can I Use Someone Else’s Bank Account for Payment?
KuCoin’s fiat trading zone requires payments from accounts matching your platform KYC details.
Key Rules:
- Use bank cards, Alipay, or WeChat Pay under your verified name.
- Sellers may reject payments from mismatched accounts, leading to refunds.
- Non-compliant transactions risk account freezes; KuCoin isn’t liable for such disputes.
3. Why Does the Displayed Price Differ from the Executed Price?
Cryptocurrency prices fluctuate rapidly. The final rate is locked at the moment you click Buy/Sell, while ad listings may display slightly delayed data.
Tip: Refresh the page before confirming to view near-real-time prices.
4. Where Can I View Purchased Assets? How to Transfer or Trade Them?
After purchase, funds appear in your Funding Account.
Steps to Access:
- Navigate to Assets > Funding Account.
- To trade, transfer assets to your Trading Account via the conversion button.
Transfer Methods:
- Directly from the Funding Account interface.
- Or via separate pages for Funding/Trading Accounts.
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5. How to Contact the Counterparty During a Trade?
Web Users:
- Use the IM chat window on the order details page (right sidebar).
App Users:
- Tap the IM icon (top-right corner of the order details).
Note: Update the app if the chat fails to load.
6. How to Use the Blocklist Feature in P2P Trading?
KuCoin P2P allows blocking users to filter trading partners.
Steps to Block:
- Go to P2P > Orders.
- Select a user and click Block.
- Confirm the action.
Effects:
- Blocked users can’t trade/message you.
- Their future ads are hidden.
Unblocking a User
- Visit P2P > Blocklist.
- Choose the user and click Unblock.
FAQ Section
Q1: Why was my payment refunded immediately?
A: Likely due to mismatched KYC details between your payment account and KuCoin verification.
Q2: How often do ad prices update?
A: Prices refresh dynamically, but delays of a few seconds may occur.
Q3: Can I cancel a blocklist action?
A: Yes—unblock users anytime via the Blocklist menu.
Q4: Where do blocked users appear after unblocking?
A: Their ads become visible again, and trades can resume.
Q5: Is transferring assets between accounts instant?
A: Yes, transfers within KuCoin wallets process immediately.
Q6: What if I can’t access the IM chat?
A: Ensure your app is updated; reinstalling may resolve persistent issues.
By addressing these common issues proactively, you can enhance your cryptocurrency trading efficiency and security. Always verify transaction details and adhere to platform guidelines for optimal results.