P2P (peer-to-peer) trading is a widely used method for exchanging cryptocurrencies, offering flexibility and direct transactions between buyers and sellers. However, there are instances where canceling an order becomes necessary. This guide explains how to cancel P2P orders responsibly while minimizing the impact on your completion rate—a key metric reflecting your transaction reliability.
Key Considerations Before Canceling an Order
Do Not Cancel After Payment
- If you’ve already paid the seller, cancelling the order could lead to disputes. Instead, resolve issues through the platform’s support system.
Verification-Required Orders
- Both buyers and sellers may cancel orders with a "Verification Required" status without penalty.
Non-Verification Orders
- Only buyers can cancel orders in "Pending Payment" or "Coin Release in Progress" status. Sellers must use the P2P Appeal function if buyers refuse to cooperate.
Cancellation Limits
- Users can cancel up to 3 orders within 24 hours. Exceeding this limit restricts P2P trading for 24 hours.
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Step-by-Step Guide to Canceling P2P Orders
Step 1: Navigate to the Order Page
- Click "Cancel Order" on your P2P Order Dashboard.
- Sellers: For verification-required orders, use "Reject" to cancel.
Step 2: Select a Cancellation Reason
A. Orders Requiring Verification
- Cancellation carries no penalties (completion rate unaffected).
B. Orders Not Requiring Verification
- Seller Issue: Select this category if the seller caused the cancellation. Your completion rate remains intact if the seller accepts.
- Buyer Issue: Accepting responsibility affects your completion rate, with no appeal options.
Important Notes:
- If payment was made but the seller requests cancellation (or the order times out), you’ll be prompted to place a new order with the same advertiser.
- Sellers have 10 minutes to respond to cancellation requests; otherwise, the system auto-approves.
Appealing Completion Rate Penalties
Eligibility Criteria:
- You selected "Seller Issue" as the cancellation reason.
- The seller rejected your request, impacting your completion rate.
How to Appeal:
- Verify the impact in the order chat.
- Submit a support ticket with clear evidence (e.g., chat logs, payment proof).
Alternative Solutions to Improve Completion Rate:
- Automated Refresh: Rates are recalculated every 30 days—older cancellations gradually lose impact.
- Increase Successful Transactions: More completed orders dilute the effect of cancellations.
FAQ: P2P Order Cancellations
Q1: Will canceling orders affect my account standing?
A1: Excessive cancellations (beyond 3/24 hours) may temporarily restrict P2P trading.
Q2: Can I cancel an order after paying?
A2: No. Contact support to mediate disputes instead.
Q3: How long does a completion rate appeal take?
A3: Typically 1–3 business days, depending on evidence quality.
👉 Learn more about secure P2P trading strategies
Final Tip: Always review counterparty profiles before transacting to minimize cancellations and build a trustworthy trading history.