Trades

Silent Pool is a marketplace to buy or sell altcoins peer to peer. The trades are not exposed publicly, which allows you to put big orders without moving the price of the altcoins.

The trades are protected by Noones escrow, same as all other P2P marketplace trades.

Using Silent Pool is easy if you are familiar with how Noones P2P trades work. Please refer to the two examples below for details.

I want to sell altcoins

First of all, go to Silent Pool and select the altcoin you want to trade. If it’s not supported yet, feel free to suggest it.

Continue to the search form and make sure you selected the right altcoin to sell. You can also select one of the cryptocurrencies in your Noones wallet that you want to get.

Couldn’t find a good offer? Want to sell for your price? Create an offer by clicking Create an offer. See the instructions below.

Once you find an offer, click Buy to start the trade. You will see how much altcoins you are supposed to transfer. Your trade partner will provide an address to transfer the altcoins to. Be careful: only use the addresses provided via the Noones trade chat, otherwise we will not be able to protect you in case of a dispute.

Once the altcoins are transferred and confirmed on the blockchain, click the PAID button and wait for the other party to release the crypto to your Noones wallet.

Things didn’t go as planned? You can start a dispute and let our moderators resolve the problem. Make sure you followed the vendor’s terms and presented the transaction id of the altcoin transfer to the moderator.

I want to buy altcoins

Open the Silent Pool search form and select the crypto currency you have in your Noones wallet. No crypto yet? Deposit it in your Noones wallet or trade in Noones Marketplace.

Next, choose an altcoin to buy. Couldn’t find your altcoins in the list? Feel free to suggest it.

Once you find an offer, click Sell to start the trade. Enter the amount in Bitcoins to sell. This amount will be locked in Noones escrow for the whole trade.

Next thing you need to do is to provide the address to transfer the altcoins to your trade partner. If your payment requires special instructions, like the blockchain to use, you are obliged to make them clear to your trade partner. You can do this in the trade chat. Be careful: never share any details outside of the Noones trade chat, otherwise we will not be able to protect you in case of a dispute.

Your trade partner will transfer the altcoins and let you know. Please confirm the transfer on the blockchain or in the external wallet you are using for your altcoins. Once confirmed, please click the button to Release Bitcoin. Congratulations, your trade is done!

Things didn’t go as planned? You can start a dispute and let our moderators resolve the problem. Make sure you provided the correct deposit address in the trade chat prior to starting the dispute.

I want to create an offer

1. Go to Create an Offer
2. Chфoose the crypto currency in your Noones wallet you want to use: BTC, USDT or USDC.
3. Choose whether you want to buy the selected crypto (and sell altcoins) or the other way.
4. From the list below select the altcoin you would like to buy or sell.
   
5. To set the price, enter the desired margin (in %). Your offer price will be updated automatically every 10 minutes to the market price of the altcoin + the margin % you have chosen.
6. Set the minimum and maximum trade amount. For example, if you have $1000 worth of Litecoin, you may want to set $100 for the minimum and $1000 for the maximum.
7. Click next to proceed to the last step: enter the Offer Label (it will be displayed in the offer search) and Offer Terms. Make sure to clarify how you want altcoins transferred: which blockchain, wallet or platform you prefer to use.
   
8. Finally, click Create Offer button to complete the process. You can check the status of your offer in My Offers. Hint: if you are going offline for a long period of time, it’s a good idea to temporarily deactivate your offer.
9. Once somebody accepts your offer, you will get a notification. You can manage your notifications in Settings.

Security deposits are a common practice often used to ensure the integrity of transactions and to  facilitate a secure marketplace. In NoOnes, security deposits can be as low as 0.005 BTC or 315 USDT. 

Making a security deposit

1. Login to your NoOnes Account. You can navigate to My Offers from your Home dashboard, from menu on the left side or just hover over Home on the header menu and click My Offers.

2. At the top of My Offers list you will find Security deposit. Click Deposit.

3. Read the message carefully and click Deposit to confirm the transaction. A notification will then appear confirming that your crypto was deposited from your wallet to NoOnes secure escrow.

Withdrawing security deposit

1. Login to your NoOnes account. Go to My Offers.

2. Above the My Offers list on the Security deposit dashboard, click Withdraw.

3. Read the message carefully and click Withdraw to confirm the transaction. A notification will then appear confirming that your crypto was withdrawn from NoOnes secure escrow to your wallet.

Buying and selling cryptocurrencies using Bank Transfer is automated to make trading even easier and safer for you.

The trade chat will be disabled in Bank Transfer offers you create or edit. We’ll automatically share the buyer and seller’s account details with each other instead. We’ve also introduced new Offer Terms for Bank Transfer trades, which have been set by Noones. These Offer Terms outline how the trade will proceed. 

Here’s how our automated Bank Transfers work:

How to sell cryptocurrency with an automated Bank Transfer

How to buy cryptocurrency with an automated Bank Transfer

Whenever you send crypto to an external wallet address, your transaction will have a specific Transaction ID (TXID), which consists a long string of numbers that identifies your transaction on the blockchain like a digital receipt. The person you're sending the crypto to might request your TXID to prove that it has been sent successfully.

Here are the 2 easy steps to find your TXID in Noones:

1. Click "Wallet" at the top of the page
2. Click "ALL OPERATIONS" at the bottom of the page.

You'll then see a list of all of your transactions, including the Transaction ID for each. 

Chargebacks happen when the other party requests their funds back after a trade. This means, your trade partner can request their funds back even after you received the payment.

Here are a few things you can do to protect yourself:

• Chargebacks are usually related to third party payments. If a third party payment was sent, try to get as much information as you can about the account the payment was sent from

• Take a look at your trade partner’s feedback history before starting a trade to make sure they aren’t getting feedback about chargebacks
• If you created the offer, add tags that indicate if you accept third party payments or not. 
  • If the user is ID verified, ask them if they are making the payment with their verified name
• If you don’t accept third party payments and the buyer is trying to use one, ask the buyer to cancel the trade

If a buyer has filed a chargeback, take a look at this article to see what you can do.

To secure the marketplace, Noones employs various protocols such as escrow to prevent fraud and make the trading experience safe and fair for everyone.

So how does the escrow work?

When a trade starts, the seller’s crypto is automatically transferred into a temporary safe deposit account (escrow). Once the payment is made and confirmed, the seller can release the cryptocurrency from the escrow and this will mark the completion of the trade.

How escrow helps cryptocurrency buyers?

If you've made a payment and the seller refuses to release your crypto, the seller’s cryptocurrency will stay in escrow until our moderators step in to investigate and award to the deserving party — here's how you can start a dispute.

How escrow helps cryptocurrency sellers?

Sometimes a buyer may not be able to finalize the payment for the cryptocurrency resulting in a canceled or expired trade. If you’re the seller in this case, your cryptocurrency will safely return back to your wallet.

All Noones trades flow in a similar way. However, you may encounter some specific cases depending on the payment method you choose. If you familiarize yourself with the process, it’ll make trading in Noones a lot easier.  

Buying cryptocurrency

Find an offer on our Buy Bitcoin list. For more information on how to buy crypto see our guide.

You can also create your own offers directly from your Noones account. See our short guide on how to create your first offer.

Selling cryptocurrency

Find an offer on our Sell Bitcoin list. For more information on how to sell crypto see our guide.

You can also create your own offers directly from your Noones account. See our short guide on how to create your first offer.

Trade status determines the progress of your trades and you can view them from your user dashboard when logged in to your account.

These are the eight statuses your trade could possibly have:

• Active funded – the trade has started and the seller's crypto are safely held in the escrow
• Paid – the crypto buyer made a payment and clicked the Paid button
• Expired – every trade has a payment window for a buyer to make a payment. If the buyer failed to mark the trade as paid, the payment window expires. This means the system automatically cancelled the trade. 
• Cancelled – the buyer or the seller cancelled the trade
• Dispute Open – the buyer or the seller opened a dispute
• Successful – the crypto seller released the funds from the escrow, which will automatically go to the crypto buyer’s wallet
• Awarded seller – the dispute took place and the funds was awarded to the crypto seller
• Awarded buyer – the dispute took place and the funds was awarded to the crypto buyer

A QR Code is a machine-readable code made of black and white squares that help make your online wallet trades faster and easier. You can add a QR code to your Noones account to help make your online wallet trades easier and faster. By adding a QR code, you can quickly share your online wallet details in the trade chat or when you're creating an offer. We’ve broken down the steps on how to add and use a QR code in the Noones marketplace:

To add a QR code to your Noones account:

1. Head to the settings page of your Noones account and click on Payment details
   
2. Scroll down to Online Wallets and click on Add New
   
3. Pick your wallet name, upload the wallet URL, and give the account a nickname 
4. Once you’re done, click Add
   

To edit or delete a QR code connected to your Noones account:

1. Head to the settings page of your Noones account and click on Payment details
   
2. Select the online wallet you’d like to edit or delete
   
3. Click on the action you’d like to do
   

To upload a QR code in the chat:

1. Once you’ve started a trade and you have a QR code linked to your Noones account, you’ll see a mini QR code icon in the trade chat. Tap on the icon for the list of your linked online wallets
   
2. Select the QR code you’d like to use
   
3. From there, your QR code will be uploaded to the chat
   

To create an offer with a QR code:

1. Start by creating your offer as you usually would—if you select an online wallet that is supported by this feature, you’ll have the option to upload your linked online wallet during the first step
2. Select the online wallet you’d like to use
   
3. From there, you can continue to create your offer as usual 
   

All photos uploaded in the trade chat will have a unique watermark with a trade number and our platform's name. This serves as an added security that prevents sensitive information such as gift card photos from being used in fraudulent activities such as irresponsible re-selling or brokering. We want to prevent scammers from re-selling any gift cards they managed to obtain on our platform.

When is it not watermarked?
There are reasons for possessing a clear non-watermarked photo. One of those reasons, for example with gift cards, is to solve any questions with the gift card company.

To get a non-watermarked photo, the KYC/ID verification process should be completed and successfully confirmed. Once done, images in the trade chat will be shown without a watermark 24 hours after the cryptocurrency has been released.

Each gift card can only be used once in our platform. If you get an error message, the only reason is that we've detected this gift card in another trade. Brokering and selling cards to more than one user at the same time is strongly prohibited by our Terms of Service.

If you get an error message and you are not selling the card in another trade, please contact our support team for assistance.

You should write a detailed offer instruction to help the buyer send payment and make the transaction process as smooth as possible. Give clear instructions of what you need from the buyer and explain the steps that lie ahead (e.g info on documents such as receipts or photos you may require). Remember that the user will see the trade instructions when the trade starts, so here you can put the information that you want to provide after the user accepts the offer terms. Instructions are added in the third step of the offer creation flow.

What not to do:

• Don’t suggest to trade outside escrow. Any suggestions to trade off-site are strictly forbidden and this kind of activity will get you banned from Noones.
• Don’t give any personal contact information. 
• Don’t give links to outside sites or share URLs. You must process the payment on Noones.

Examples 

iTunes gift cards

1. Upload a picture of your physical card with the code clearly visible. For blurry photos, please type the code into the chat also.
2. If your card doesn’t mark the value, please tell me the denomination.
3. Wait for me to check the card and release cryptocurrency. Remember to click the I have paid button.
4. If for any reason you don’t want to continue the trade with me, cancel the trade to let me trade with others instead.

Amazon gift cards

1. Upload a picture of your physical card with the code clearly visible. For blurry photos, please type the code into the chat also.
2. Upload a picture of the receipt showing that the card was purchased with cash.
3. Wait for me to check the card and release cryptocurrency and remember to click the I have paid button.
4. If for any reason you don’t want to continue the trade with me, cancel the trade to let me trade with others instead.

Paypal

1. Upload a picture of your full screen showing that the funds are already available in your PayPal balance. 
2. Share your PayPal email.
3. Show a proof that your account is verified
4. After you have done the above, I will then send you the email account to send funds to.
5. Funds must be sent as “goods and services”. 

Western Union

1. Send the funds via cash to the following NAME_HERE, ADDRESS_HERE, etc…
2. Provide me with the following info in the chat: sender name, sender city/state, sender phone number, and the exact payout amount in USD or local currency.
3. Click the I have paid button and wait for me to pick up the funds and release cryptocurrency.

Read more on our rules for selling cryptocurrency, tips for buying cryptocurrency, and our guide on writing good offer terms.

As a buyer and/or a seller of cryptocurrency, here's what you should do when your trade partner in Noones is unresponsive.

If you are selling cryptocurrency and the buyer is not responding:

• If the crypto buyer is the offer owner, they have a 5 minute window to view the trade. If those 5 minutes have passed, you can cancel the trade.
• If the crypto buyer has viewed the trade but hasn’t clicked the I have paid button yet, your cryptocurrency will be released from the trade escrow when the trade expires.
• If the crypto buyer clicks I have paid but you don’t receive any payment, you can ask the buyer to cancel the trade. If the buyer doesn’t cancel the trade, you can click Dispute. From there, our moderators will take a look at the situation. 

If you are buying cryptocurrency and the seller is not responding: 

• If you started a trade and the crypto seller seems to be offline or doesn’t reply to you, you can cancel the trade and try your luck with other sellers on our platform.
• If the crypto seller was responsive, approved the payment, and then became unresponsive, you need to click I have paid so that the trade doesn’t expire. If the trade expires, the seller gets his cryptocurrency back from the escrow. 

See more information about disputes in our dedicated article.

Any kinds of trading carries a potential risk — To lessen this, familiarize yourself with all the risks that come with trading crypto. Being aware of these puts you in a better position to make a profit off your cryptocurrency. In this article, we’ll cover most of the risks both sellers and buyers may encounter while trading crypto in Noones.

Risks for buyers

If you’re new to our marketplace, some dishonest users may try to take advantage of you. Here are a few ways they can do this:

Sellers asking you to cancel the trade after you’ve paid

This is a common tactic used by scammers where they’ll ask you to cancel the trade after you’ve paid for the cryptocurrency. For example, if you’re trading a gift card and you’ve uploaded all the details of your gift card, then you put yourself at the risk of giving those details for free. Scammers can then use the gift card right away, and if you cancel the trade, the cryptocurrency will be released from escrow back to the scammers as well. Essentially, these users get the gift cards for free, and you lose your cryptocurrency.

If a seller ever asks you to cancel the trade after you’ve paid, don't cancel the trade. Instead, follow these steps:

1. Click I have paid and start a dispute.
2. The moderators will investigate the trade and award the cryptocurrency to the deserving party.
3. Be ready to provide additional proof to the moderators, and extend your full cooperation to the investigation. 

Another tip to protect yourself is to ensure that the seller is online before uploading documents and making payments.

Note: Reselling gift cards is strictly prohibited and is against our Terms of Service. Make sure that you are the original buyer of the gift card.

Trading outside Noones

Many scammers will try to complete a trade outside of Noones. They may ask for your contact details and attempt to get in touch outside of our marketplace. If you agree to trade outside of our platform, you lose the protection of our secure escrow.

Once you trade outside of Noones, it is not guaranteed that the seller will send you your cryptocurrency, and our moderators won't be able to provide assistance since the trade happened outside of our platform. Remember that the escrow system is in place for your protection, whether you’re a buyer or a seller.

Risks for sellers

Just like buying cryptocurrency, there are also a few risks that you have to look out for while selling cryptocurrency in Noones. Familiarizing yourself with these risks will help you protect your funds.

Reversible payment methods

Some payment methods in Noones are reversible (such as PayPal or credit cards), which means the payer can request a refund. A common scam is when a fraudulent trader uses a reversible payment method. After the trade is completed, the scammer will then ask for a chargeback.

If you receive a chargeback, follow these steps:

1. Go to your classic dashboard
2. Click view past trades.
3. Click the trade where you got the chargeback and you will see the trade page.
4. Scroll down and under your instructions, you will see the receipt of the trade.

Gift cards that have already been redeemed

This is a common method that fraudulent traders use. It occurs when buyers upload details of gift cards that have already been used. Scammers may also say that they already made the payment or that they’re in the process of making the payment.

It’s important that you check the balance on the gift card before releasing any cryptocurrency. You can check the balance by redeeming the gift card and making sure that the balance is reflected in your account.

You should do this quickly as the buyer may try to sell the same card to another seller.

Buyers using a fake ID or a stolen credit card

Credit card companies usually cover their users from fraud. If their customers report that their card was stolen, they will block specific transactions. This is why it’s important to check the users’ ID and ask for a selfie to prove the trader's identity.

Be wary of blurry images, especially if the face and name on the card are not clearly visible. If a user is genuine, they are usually willing to complete all trade instructions. Some traders may refuse to give their ID, but It’s up to you to decide what proof you're willing to accept for each trade. Keep in mind that the more evidence you have, the more leverage you’ll have against the scammer.

The user is “very busy”

Be cautious with users who try to rush a trade. Some users may try to rush you and say they're "very busy". This is typically a red flag as some scammers will try to push you into releasing your cryptocurrency. If you do send the scammer your funds, the fraudulent trader may send your cryptocurrency to a non-Noones wallet. After they send their cryptocurrency outside of Noones, they can get away without making a payment for the cryptocurrency. 

— Both buyers and sellers should carefully follow the trade instructions provided and finish the trade when all agreed-upon conditions have been met. For more information on how to secure your cryptocurrency, take a look at our security guide.

Noones has created a simpler and smarter approach to trades with Trade Page Lite. You can trade without time-consuming trade chats as the most important trade instructions and requirements are now part of the trade process itself. The requirements, which affect the trade flow directly, are chosen by the seller of cryptocurrency during the offer creation process. Here is an overview of the feature.

Creating an offer

With the simplified version, you go through a similar process as with the classic version. However, you have additional payment specific requirements to choose from. Chat is avoided as trade instructions and requirements are integrated into the trade flow. Here is an example of such a process with a PayPal offer:

1. Start creating an offer to sell your cryptocurrency as usual.

2. Select PayPal as a payment method — A new section will then appear with the list of payment methods.

3. Click Lite trade to apply automated trade flow for your offer.

4. Select the ID proofs you want to request from the buyer.

 5. Scroll below and tick the Proof of payment box if you want the buyer to upload proof of payment during the trade process.

6. Type in your email in the Your PayPal email field.

7. Proceed with the offer creation flow as usual.

Trading as a seller of cryptocurrency

Step 1

• When a trade starts, wait for the buyer to upload the documents. Optionally, click Chat with buyer to switch to classic trade chat.
• Once the buyer uploads all proofs, they appear on your screen.

• Review the proofs and click Accept near to each image.

Step 2

• Wait for the buyer to make the payment. If necessary, start a chat with a trade partner by clicking Chat with buyer.
• Once the buyer has confirmed making the payment, click the Proof of payment icon to view the buyer's proof.
• Tick the box below to confirm receiving the actual payment.
• Click Release to send cryptocurrency from the escrow to the buyer's wallet.

Trading as a buyer of cryptocurrency

Step 1

• Once you have started a trade, click Upload to start uploading the proofs requested by the seller of cryptocurrency.

• Choose a file and click Upload. 

• Repeat the same actions for all proofs in the list and click Send to vendor. 

• Wait for the seller to review your proofs. Once the seller accepts your proofs, the Step 2 section activates.

Step 2

Once your proofs are accepted by the seller, the Step 2 section becomes active. 

• Click Upload to upload the proof of payment the same way as all previous files.
• After making the payment and uploading the proof requested, click Payment complete.
• The Step 3 section activates.

Step 3

• Wait for the seller to release cryptocurrency.
• In case of success, you receive a notification confirming that the funds have been transferred to your cryptocurrency wallet.

Learn how our feedback and reputation system works in Noones to gauge if you're dealing with a good trader or not.

Currently, the minimum trade amount is 10 USD to buy bitcoins.

As a buyer, you sometimes may not be able to start a trade with specific sellers for some reason and get the following message:

"You do not meet the requirements set by the vendor", "Offer not found" and more.

This is not a technical error — This happens as the offer owners may set the following restrictions for their potential trade partners:

• Verification of phone, email, ID 
• Visibility only for users marked as "trusted"
• A minimum of successful trades required
• A limit for the amount of money a new account is able to trade
• Geographical blocks for certain countries
• Proxy/VPN limitations
• User has blocked you due to any personal reasons