From 34564191e6d0c2eae55230e93fe65a633caae7e6 Mon Sep 17 00:00:00 2001 From: bkminer1984 <101968638+bkminer1984@users.noreply.github.com> Date: Sun, 20 Mar 2022 22:57:27 +0700 Subject: [PATCH] Create Fiat Payment.md Start creating Update Fiat Payment.md Re create the whole file from scratch after some research on robosats/docs/how-to-use.md and bisq trading rule. --- docs/Fiat Payment.md | 37 +++++++++++++++++++++++++++++++++++++ 1 file changed, 37 insertions(+) create mode 100644 docs/Fiat Payment.md diff --git a/docs/Fiat Payment.md b/docs/Fiat Payment.md new file mode 100644 index 00000000..a2d76956 --- /dev/null +++ b/docs/Fiat Payment.md @@ -0,0 +1,37 @@ +# Fiat payment method + +Currently, there are no restrictions for fiat payment method. You can pay with any method that both you and your peer agree. This include the higher risk method such as paypal, venmo and cash app. + +## General recommendation + +This recommendation is created as a best practice for trading in the Robosats platform. These best practices is highly encourage for both trading peers to follow to ensure successful trade and prevent unnecessary dispute. + +### For both bitcoin buyer and seller + +1.Make sure to checking out the How to use section before begin trading.
+2.State the agreement clearly to prevent misunderstanding.
+3.The fiat payment method should be able to send and recieve instantly because the hodl invoice had an expiration time of 24 hours.
+if the timer reach the expire, it could trigger dispute and could lead to a loss of fidelity bond.
+4.After the taker had taken order, both side should be ready to process to the next step before the timer expire.
+5.Please be aware that no one can read the chat between you and your peer. + +### For bitcoin buyer + +1.You must wait until seller successfully lock their coin in hodl invoice before begin fiat sending process.
+2.Make sure the fiat sending destination address/account is correct.
+3.Make sure to keep your fiat sending evidence such as transaction receipt.
+4.Click "Confirm fiat send" button after you successfully send the fiat out of your account.
+ +### For bitcoin seller + +1.Confirming if the final amount of fiat received is correct.
+2.Click "Confirm fiat recieve" after you 100% sure that fiat is successfully deposited in your account.
+3.If you agree with buyer to use high chageback risk platform you will need special precaution to prevent chargeback (This'll be discuss later).
+ +## High chargeback risk payment method + +The best practice for user try to transact with payment method with high chargeback risk is disscussed in this section. + +### Paypal +Paypal is a popular international payment method, but it come with substaintial risk of chargingback. To prevent chargeback, seller should demand buyer to pay with Paypal friend instead of usual merchant payment option. Because the buyer protection policy is only apply for merchant purchasing.
+However, if you are seller and the buyer agree to send fiat via Paypal friend, But they send the fiat via refundable option instead, you should payback the fiat to the buyer and demand them to resend with correct option or if thing gets suspicious you can Open dispute.