Tandem is a global P2P trading platform that makes buying and selling Bitcoin/crypto easy.
Tandem is a P2P platform that connects users who wish to trade, transact or convert crypto to fiat (local currency) and fiat (local currency) to crypto.2 simple things you can do with Tandem P2P:
Tandem enables all our users with a simple and user-friendly interface to buy and sell crypto.
Sign up → Email Verification → Select from Buy/ Sell Option.
|KYC Level||KYC Level 1||KYC Level 2|
|Documents||Email ID Verification||Photo ID Verification|
|Daily Transaction Limit||1 BTC (Buy+Sell)||Unlimited|
The Fee structure is as follows:
Example 1: Buyer is the Maker and Seller is the Taker
Example 2 : Seller is the Maker and Buyer is the Taker
Note: The fee is charged on the maximum limit.
There are currently 5 fiat (local currencies) available:
More fiat/local currencies to be added with time. Looking forward to support more than 30+ fiat/local currencies. If you would like more currencies to be added, please write to us firstname.lastname@example.org
Oracles are the agents who will enable you to place trade. They perform the trade execution on your behalf, if you are unable to do so.
Oracles would perform the following functions:
Two-Factor Authentication (2FA) is an advanced level of security which makes it harder to gain access to your account.
Go to Settings → Security → Switch on/ Toggle on 2FA →Enter 6 digit OTP → Verify
Tandem does not hold any fiat (local currency). It is also not necessary to hold crypto funds on Tandem. User who wants to sell Crypto should add their bank details for the buyer to transfer the fiat (local currency).
Seller has two options while selling the Crypto :
Locking in Tandem Wallet:
Seller can put the Crypto in Tandem wallet while creating the order. In this scenario the quantity of Crypto for which he is creating a ‘Sell Order’ will be locked. Once all the requirements are met by both the parties, Crypto will be transferred to the buyer. In case, the transaction does not work out at any stage, the Crypto will be unlocked. Please note that once the Buyer has transferred the fiat (local currency) in Seller’s bank account, the transaction from Seller’s side cannot be cancelled.
Crypto in Escrow:
The Seller can transfer crypto from external wallet to the escrow wallet. An escrow is created by default when the Seller creates an order. The escrow wallet holds the Crypto and the same is released once the Buyer transfers the fiat (local currency) and Seller confirms it.
Bottomline: We encourage users to withdraw funds into their external wallets but also provide them with a Tandem wallet should they want to retain their funds on the platform.
Absolutely! Tandem has a ‘Crypto in Escrow’ system to make the entire transaction secure so neither party can cheat the other. In this escrow system, the seller's crypto will be transferred only when the transaction is successfully completed and the payment is confirmed.
If you’re a Seller: The Crypto in escrow will only be released to the buyer only after your confirmation of fiat / local currency receipt (in your bank account).
If you're a Buyer: You will receive the crypto in your wallet only after the fiat / local currency is deposited in the seller’s bank account.
In case of any disputes that cannot be resolved between the parties, you can write to us on email@example.com and we will revert to you in 24 hours. Further on this the support manager will study the case, and give you further instructions in order to resolve dispute.
Select the fiat/local currency of BTC you want to buy/sell. Also mention the limit (minimum and maximum).
Currently, we offer only BTC(Bitcoin) in crypto. Other crypto will be added eventually.
Minimum and maximum limits are set by users on their created orders. Tandem does not set any limits.
My orders display the orders you have created for buying or selling. Further, you can check the status of your order by selecting any of the options from the dropdown.
On the Home Screen:
On the Buy Screen:
If you wish to Buy BTC.
To Confirm Order:
On the Sell Screen:
If you wish to sell BTC
To Confirm Order:
There are 6 types in the “My Order” screen:
All Orders - User can check all the orders here at any stage of the transaction.
New Order - User can check the orders created and waiting for a match.
Received Interest - Once an order is matched with the prospective Buyer/Seller, user will get notified.
Crypto in Escrow - After the seller has transferred Crypto in Escrow, Buyer will get the notification in this tab along with an option to pay fiat/local currency.
Fiat Transferred - Once the Buyer sends the amount and clicks on ‘Fiat Transferred', the order will show here. For the Seller, the order will show under this status after confirmation by clicking on ‘Fiat received’.
Cancelled - This means that the order was not executed.
In case of any queries, please reach out to firstname.lastname@example.org
For non-KYC’d users the daily transaction limit is only 1 BTC.
There are no limits for KYC’d users.
Tandem wallet works similar to other cryptocurrency wallets wherein:
Click on Deposit → Copy the wallet address → Transfer the funds from the source by putting the wallet address there.
Click on Withdraw → Put the wallet address where you want to transfer the Crypto → Done
Go to Settings → Bank → Add New Bank - Enter details → Submit
Go to My Orders and click on 'Fiat Transferred' for the confirmation.
Note: The transfer of funds from your bank account should be within 90 minutes or your order will be expired.
Also, for seamless transaction we always lock the seller’s crypto once the order is created.
Steps for the Seller to complete transaction:
My Orders → Fiat Transferred → ‘Received Fiat’
Any transaction that is more than 1 BTC will require KYC verification. The user is required to complete the following:
Go to Settings → KYC → Complete Email Verification → Complete Account Verification → Complete 2FA