Original source: okx
Welcome to this episode of the dialogue. Today, we have a guest, an OKX C2C merchant "Kunlun" (pseudonym), to talk about how he entered the crypto space, why he chose to become an OKX C2C "Frozen Compensation" merchant, and how he uses the 'Frozen Compensation' mechanism to provide security for users in his business. We hope that through this interview, everyone can understand the value and services of OKX C2C from scratch.
To facilitate reading, we have distilled the core viewpoints of the merchant~
User withdrawal safety is always the top priority and collective consensus of OKX C2C merchants.
Transaction speed is also crucial; deposits and purchases must be timely, otherwise customers may incur losses.
Choosing OKX because the C2C product is simple yet efficient, and has high traffic.
The Frozen Compensation mechanism launched by OKX is a qualitative change, not just a gimmick; it is a real security guarantee for users.
After the implementation of the "Frozen Compensation" mechanism, users' willingness to place orders and transaction speed have significantly increased.
Merchants feel OKX's attitude of "sharing risks" and are serious about their work.
New merchants should fully understand C2C, communicate more, and accumulate experience gradually.
Users choosing Frozen Compensation merchants are more reliable.
The C2C market will continue to improve; merchants need to enhance their operational and technical levels and maintain a good service attitude.
Below is the full dialogue (organized):
I. Entering the Circle and Starting Point: From Individual to Merchant
Q: When did you start paying attention to crypto? What prompted you to enter this space and start doing C2C trading? Which platform did you first learn about?
Kunlun: I originally worked in a traditional industry and started to get in touch with cryptocurrencies around May 2024. At that time, I had friends trading coins, so I started with Bitcoin. Later, after buying USDT from merchants a few times, I gradually understood the operation model of C2C merchants. Initially, I was quite aggressive with contracts, using high leverage and losing quite a bit. Later, I switched to Bitcoin spot trading, just in time for the election market rebound. After breaking even, I decided to become a long-term C2C merchant, thinking this method was more stable.
I approached it with a "let's give it a try" mindset and didn't tell many people around me, just made the decision quietly. Through a year of practical operation and interaction with platform operators, I felt that the platform has a complete compliance system and a strict risk control mechanism. For example, there is strict management for merchants from the initial application, daily maintenance, quality control, to customer service and product aspects. This made me feel that OKX is serious about doing something and wants to improve the platform, rather than just dealing with things casually or messing around. This also gradually made me want to expand my merchant business and do more because the platform indeed has an attitude. The first platform I learned about was OKX.
Q: Now that you are doing C2C, are you operating alone or do you have a team? What is the most important thing for a C2C merchant? Have you encountered any pitfalls or memorable experiences during the operation?
Kunlun: I have two merchants myself, which have developed into a studio, and the scale is gradually expanding. I think the most important thing is definitely safety. This is especially crucial for users. Deposits are generally not a problem, but everyone is most concerned about the safety of withdrawals. Additionally, transaction speed is very important; deposits and purchases must be timely, otherwise market fluctuations may cause customer losses. I always hope that users can complete transactions smoothly and quickly, even when withdrawing profits, safety remains the top priority. Regarding withdrawals, I have my own dedicated isolation method. After receiving funds, I will isolate them. Since November 15 last year, I have maintained a "0" freeze.
Q: Did you start with large transactions or small ones? Besides isolation, what other factors make it difficult for merchants to get started quickly?
Kunlun: I started with 30,000, and now it's 50,000. The smoothness of the payment channel is also key; customers can quickly complete transactions when depositing, buying coins immediately, which is very important for service experience.
II. Why Choose to Become OKX
Q: Compared to when you first entered the circle, what changes have you felt?
Kunlun: The industry is becoming more standardized, and the platform's security mechanisms and risk control measures are also more refined. Many issues that used to rely on personal experience to solve now have more standardized operations. Users' trust in merchants increasingly relies on platform mechanisms rather than just personal judgment.
For me, the most obvious change is a series of policies from the OKX platform, such as support policies, the Frozen Compensation merchant mechanism, and various activities launched regularly. The connection between C2C merchants and the platform is very close; whether encountering problems in the operation group or handling customer complaints, feedback and solutions can be obtained promptly. In my year as a merchant, I have deeply felt that the platform has been actively launching policies and genuinely working hard, unlike some smaller platforms that deal with things casually.
Especially the Frozen Compensation policy, in the short term, it may have increased margin requirements and added some thresholds and operational costs, but it also forces merchants to improve their overall operational and technical service levels. In the long run, merchants can enjoy the benefits brought by platform policies: users have a higher trust in the platform and are more willing to place orders with merchants participating in Frozen Compensation. This is actually beneficial for long-term stable development. Overall, these changes are more beneficial than harmful; the platform plays a positive role in promoting industry standards, enhancing user trust, and protecting merchant rights.
Q: Among many platforms, why did you ultimately choose to become an OKX C2C merchant?
Kunlun: First, OKX's operating interface is very simple and efficient, with few but comprehensive functions, clear layout, and high transaction efficiency. Second, after-sales response is timely; if users or merchants make payment errors, customer service can handle it immediately, and issues can be resolved directly through complaints. For example, I once accidentally added an extra zero in a payment, and after submitting a complaint, customer service quickly contacted the other party, and the customer completed the refund within two days; the whole process was smooth. Finally, the high traffic and active users are very crucial for merchants. Overall, I chose OKX because I value product experience, service efficiency, and platform traffic.
Q: After becoming a C2C merchant, what changes have occurred in your business and network?
Kunlun: The C2C trading model is real-time and highly liquid; even with limited funds, it can generate stable income, and cash flow is more stable. Previously, when doing spot trading or trading coins, income fluctuated greatly, but C2C trading is available around the clock, with high platform traffic attracting many rational active users. These users rely on their own knowledge and efforts to make money rather than depending on relationships or external help, and this fair and professional atmosphere gives me more confidence in the industry.
III. Reasons for Becoming a "Frozen Compensation" Merchant
Q1: When you first saw the "Frozen Compensation" mechanism, was your first reaction positive? Is this also the reason you decided to become an OKX C2C merchant? How do you view costs and responsibilities?
Kunlun: Yes, my first reaction was that this is a positive development. It benefits not only the platform and users but also the merchants themselves. The platform and merchants share risks, making the mechanism more reliable. Because user withdrawal safety is always the top priority and collective consensus of OKX C2C merchants.
Regarding costs and responsibilities, I believe the benefits far outweigh the drawbacks. This mechanism is mutually beneficial: merchants can avoid risks, and users gain a sense of security and trust. In the long run, if customers do not encounter freezes or compensation issues during transactions, they will trust the platform more, and their loyalty will increase. As trust improves, the total number of platform customers increases, and merchants' customers and traffic naturally grow. This not only benefits merchants but also reflects the platform's sense of responsibility and long-term business attitude.
Previously, users had significant concerns about safety, especially newcomers who were always afraid of their funds being frozen. Nowadays, information spreads quickly, but it may not be true; new users are particularly sensitive to withdrawal safety, risks, and even legal responsibilities. The Frozen Compensation mechanism launched by OKX is a qualitative change, providing users with real guarantees and significantly enhancing their sense of security and trust.
Some platforms charge fees or impose direct fines and are reluctant to share risks with merchants. However, OKX's mechanism involves the platform and merchants sharing risks, protecting merchants, enhancing user trust, and increasing platform stability. In the long run, this is beneficial for merchants, users, and the platform, making the entire ecosystem fairer and more reliable. OKX's design reflects an attitude and responsibility—everyone is serious about their work, and the platform has increased operational costs and taken on certain risks, but the goal is to do business well and provide customers with sufficient security.
Q: Does this mechanism have flaws? Some say it's just a gimmick; what do you think?
Kunlun: The Frozen Compensation is not unlimited compensation; there are indeed limitations. However, the overall positive cycle is very evident: it enhances user trust, and more users are willing to deposit and withdraw through the platform, creating a virtuous cycle. The "Frozen Compensation" is not a gimmick; the platform is genuinely doing this, repeatedly promoting the policy in the merchant operation group and sharing risks with merchants, and they follow through on their promises.
Q: After the mechanism was implemented, did users' willingness to place orders and transaction volume change?
Kunlun: The order volume has significantly increased, and the speed of placing and hanging orders is faster; it used to take ten minutes, but now it can be completed in three minutes.
IV. Advice for New Merchants and Users
Q: If newcomers want to become C2C merchants, what advice would you give? What about for users?
Kunlun: For merchants, first fully understand C2C, then choose and communicate more; if you don't understand something, ask in the merchant management group in a timely manner, and as the number of transactions increases, experience will also grow. Speed and safety are the most important. For users, choosing OKX, especially choosing Frozen Compensation merchants, is more reliable and can help avoid risks.
Q: As a C2C merchant, what is your biggest feeling?
Kunlun: C2C will continue to improve, and the market will grow stronger. This is my genuine thought. Being a merchant requires continuous learning, risk avoidance, improving operational and technical levels, and maintaining a good service attitude towards customers. Don't rush for success; everything needs to be done step by step.
Disclaimer:
This article is for reference only. It represents the author's views and does not reflect the position of OKX. This article does not intend to provide (i) investment advice or recommendations; (ii) offers or solicitations to buy, sell, or hold digital assets; (iii) financial, accounting, legal, or tax advice. We do not guarantee the accuracy, completeness, or usefulness of such information. Holding digital assets (including stablecoins and NFTs) involves high risks and may fluctuate significantly. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation. Please consult your legal/tax/investment professionals regarding your specific circumstances. You are responsible for understanding and complying with applicable local laws and regulations.
This article is from a submission and does not represent the views of BlockBeats.
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