What happens if the buyer doesn't pay?

Hey all,

I just wanted to ask this question here because I can’t really find the answer in the FAQ:

Since 4 days I have a few trades open with the same trading partner. Obviously, this guy speculates on a BTC price increase because he waited until today to confirm that he paid the money. So basically, he just paid (if I receive the money tomorrow) +15% less than the current price. I bet that he wouldn’t have send me the money if the price decreased 15%. Nothing illegal or anything but what would have happened if he just ignores the trade? What happens to the fees I paid for the transactions? Do I get a compensation for locking my BTC for 6 days?

I am not mad or anything because I usually re-buy the same amount of BTC but I am just curious how this works and if it can be exploited.

Thanks in advance for your answer and best regards,
jonathon

Buyer has all the trading period time to proceed for the payment.
If he exceeds the trade period, he can be sanctioned by mediator’s suggestion or arbitration, by losing a part or all of the security deposit that compensates you.

1 Like

The trading periode is far too long. There is no reason to make the period a maximum of 24 hours during weekdays, 48 hours during weekends.

Disagree. Some cross-border SEPA transactions (within EU) need more than 48 hours, even during weekdays. But yeah, we should differentiate between weekdays & weekends.