To trade on the Platform you can respond to offers created by other users or create an offer yourself and wait for the response of interested users.
1) If you create an offer yourself (read more here), you should wait for users to respond to it. You will receive pop-up notifications in your profile when a user is interested in your offer.
2) If you respond to an offer created by another user, you have to make sure you agree to the terms and conditions of the offer set by the user. Please read all the requirements before you send offer request and make sure you agree to them.
Once a user responds to an offer, a trade will be automatically opened and the time countdown will begin according to the timeframe set in the offer.
According to the rules of our platform, the trade can only be cancelled by the taker (the user that responds to an offer).
If you are selling a cryptocurrency, after the trade has been opened you have to provide the details required for the other user to send the fiat money or another crypto.
If you are buying cryptocurrency, after the trade has been opened you have to wait for the details required from the selling user to be able to send the fiat money.
Trading process for the user who is selling cryptocurrency:
1. Specify the amount you want to sell (only for trades found on Market)
2. Provide the information required for the buyer to transfer/hand over the fiat money;
3. Wait to receive the fiat money from the buyer;
4. Confirm the receipt of the money;
5. The cryptocurrency will be sent automatically to the buyer.
Warning! Once you confirm the receipt of the fiat money, the cryptocurrency will be transferred automatically. It is impossible to reverse or dispute this action. You should never confirm the receipt of the fiat money unless you are sure you have received the money. Don’t trust screenshots confirming money transfer, close the trade only after you make sure you have received the money on your account!
Trading process for the user who is buying cryptocurrency:
1. Specify the amount you want to buy (only for trades found on Market)
2. Wait for the information required for you to transfer/hand over the fiat money to the seller;
3. Transfer or hand over the fiat money to the seller;
4. Wait for the confirmation of the money receipt from the seller;
5. You will automatically receive the cryptocurrency in your wallet.
Warning! For your safety, all communication related to the trade has to be carried out via Ennlo chat. To ensure secure trades, we use escrow method.
I want to change the search location, how can I do it?
If you want to change the country for the Offers you are looking for on the Market, you can do it by the filter on the Market page.
If you want to change the country permanently, you can do it in your account 'Settings'.
How are exchange rates updated?
The cryptocurrency exchange rate is volatile and may change every second. Ennlo shows current live exchange rates. You can choose any of the existing exchange rates from the filter like Bitstamp, Bitfinex, Bitmex or rate Recommended by the platform - it's an average meaning between exchange rates (Bitstamp, Bitfinex, Bitmex). Or create your rate Smart rate- you can choose any exchange rate or rates from the filter and add you interest percentage. Interest percentage can be negative if you want to sell below the exchange rates.
Prices shown in the listing on the Market may display different price when you will open the Offer because the crypto price is changing rapidly.
The price of the purchase is determined at the moment the Buyer sends the trade request.
How long does a trade take?
You have a time limit from indicated for each trade 30 minutes; 1 hour, 2 hours, 6 hours or 1 day.
If you create an offer, think within what time you’d like the trade to be completed. The user who created an offer (the maker) can’t change the time limit without a request from the taker.
If you respond to an existing offer, check the offer rules and make sure you can complete the trade within the time limit defined. Select only offers with the time limits you are sure you can fulfil. It will allow you to use the platform in the most efficient and fast way.
If for some reason you are not able to complete the trade within the time limits defined, you can always ask the other trader for additional time. However, it is up to the trader whether to accept or deny your request.
Hint! To make faster deals, respond to the offers from traders that are currently online.
If I need more time for payment? if I did not press the button 'I have paid' in time?
After you send a trade request to the Seller, you have a time window to complete the payment before the trade is automatically cancelled (the payment window varies depending on the payment method of the trade). During this time you need to complete your payment and press the 'I sent currency' button. The seller will be notified that you've made the payment and the crypto will be held in escrow until the seller confirms your payment in his/her account.
If you need additional time for the trade send a 'Time Request'to Seller by pressing the button. When the Seller approved your request you will have more time to make a transaction.
If you didn't press the button in time, send a message to the seller with an explanation of the situation. If he/she does not respond to this request please send a Help Request to the platform.
A trader is asking for my ID, What should I do?
In certain countries identification is required by the law, that’s why a trader may ask for your ID. If you do not wish to give your ID, you can always cancel the current trade and search for another offer. If you wish to provide your ID to trader send it via trade chat.
Why do I have to leave feedback after the trade? Can I edit it?
By leaving feedback for users with whom you have traded, you increase platform security and help other users to select reliable traders. Please be objective when leaving your feedback, and try to include the most relevant information, such as response time, whether the user met all the trade criteria and concluded the trade within the requested time limits, etc.
Warning! We do not publish offensive and/or subjective feedback!
Dispute resolution with Arbitrator
If something goes wrong during the trading process, you can open a dispute by clicking the Dispute button. In this case, an Arbitrator will join your chat with traders.
You will then receive an automatic notification, in which we will instruct you what actions are required to resolve the dispute. Currently, Ennlo requires 24 hours to make a decision on the open dispute. This time frame can be increased in some cases as we need to receive and analyze all the necessary information required to make a decision.
You can read more about the dispute resolution process in the Terms of Service.