Hong Kong in-store OTC FAQ

Find answers about USDT trade direction, settlement, preparing for a visit and transaction records. Follow the answers to the relevant service pages; store pages provide directions and opening hours.

USDT and USDC cash-out

  • Can I Buy USDT from VBIT?

    No. VBIT does not sell USDT to customers. Our USDT service only accepts customers selling USDT for HKD cash. If you hold USDT and wish to cash out, see the USDT Cash Out.

  • Can I sell USDC for HKD?

    Yes. VBIT accepts customers selling USDC to receive HKD cash at a store. Before transferring, check the asset, network, full receiving address and amount, then follow the Selling and Cash Out for on-chain confirmation and receipt checks.

Buying, selling and settlement methods

  • How do buying and selling differ?

    Buying means a customer pays HKD cash to receive cryptocurrency. Selling means delivering cryptocurrency to receive HKD cash. VBIT provides Bitcoin buying and selling; USDT is for customers to sell only. See the Buying and Selling and Cash Out.

  • Can I settle HKD by bank or electronic transfer?

    No. HKD is settled in cash at the store only. Official WhatsApp and WeChat are for quotes and arranging visits; transactions take place at physical stores. For the service scope, see the OTC Services Overview.

Transfer networks and addresses

  • How should I select a transfer network?

    The sending and receiving sides must use the same blockchain network; do not choose by the asset name alone. When buying, provide your receiving details. When selling, use the details supplied by the store for that trade. Check the asset, network, full address and amount before transferring. See address and network checks.

Quotes, fees and spreads

  • How should I understand quotes, spreads and transfer fees?

    First distinguish whether you are buying or selling. In general, the difference between buy and sell quotes is the spread; wallet or platform transfer fees are transfer costs. VBIT's quoted rates are available at stores or on the official quote enquiry page. Trades use the amount, rate and HKD total agreed by both sides. For cost checks when buying Bitcoin, see buy quotes and fees. For USDT cash-out, see cash-out quotes and transfer fees.

Identity information and confidentiality

  • Must I provide identity information before using the service?

    Yes. Under VBIT's current Anti-Money Laundering (AML) Terms, customers must provide accurate, up-to-date identity documents before using the services, and stores may conduct reasonable identity checks. Source-of-funds declarations and enquiries are covered by the Counter-Terrorist Financing (CFT) Terms.

  • How are identity and transaction details kept confidential?

    The current AML terms, clause 5.1 and CFT terms, clause 7.1 require identity and transaction information to be kept confidential except where disclosure is required by law. Keep your wallet's private keys and recovery phrase yourself; do not give them to others.

Appointments and store information

On-chain confirmation

  • Does a wallet showing sent mean the transaction is complete?

    Sent, confirmed on-chain and checked by the recipient are different states. Use the transaction ID (TXID) in the relevant network's blockchain explorer to check the receiving address, amount and confirmation status. Do not send again if the status is unclear. VBIT's selling process settles HKD cash at the store after on-chain confirmation and receipt checks. See the Selling and Cash Out.

Official channels and transaction records

  • How do I verify customer service and online trade invitations?

    Open the official contact links on this website's Store Contact Page and check the full number: +852 6770 9992. VBIT provides in-store OTC transactions only and has no online exchange platform. Do not rely solely on an avatar, name or social media advertisement to establish identity. See transaction safety and verifying official channels and Official Impersonation Warning.

  • What records should I keep after trading?

    Keep the store receipt or transaction document, plus the TXID, asset, network, full receiving address and amount. Cross-check the HKD total and exchange rate against the actual receiving details. For purchase records, see the Buying. If you find an issue, follow the contact steps for irregularities to enquire with official customer service.