Every trade on Zutopia combines two systems working together: the SplitChain network, which transfers the Zucoins themselves, and Stripe, which processes the corresponding fiat currency payment.
When a trade begins, Zutopia coordinates these two processes to help ensure both the buyer and seller complete the transaction securely. Payments are only captured once the Zucoin transfer has been successfully verified.
Understanding this flow helps explain why funds are pre-authorised before Zucoins move, and why both parties need to respond promptly once a trade begins.
The Trade Flow
This process helps ensure that payment is only completed after the Zucoins have been successfully transferred.
A buyer initiates a trade by purchasing from a Sell listing or fulfilling a Buy listing.
The buyer's payment method is pre-authorised through Stripe. At this stage, the funds are reserved but have not yet been charged.
Zutopia verifies that the seller has the required amount of Zucoins available.
The seller transfers the Zucoins using their linked Zucoins Wallet.
Zutopia verifies that the transfer has been completed successfully.
Once the transfer is confirmed, the buyer's payment is captured and the seller receives their payout through Stripe.
Important Notes
Zutopia facilitates the transaction but does not hold either your Zucoins or your fiat currency.
Buyers and sellers each have 60 seconds to respond during each stage of the transaction.
During this time, you'll receive reminders if action is required.
If either party does not respond before the timer expires, the transaction is cancelled automatically.
If a seller does not respond to a trade request within 60 seconds, their listing is automatically deactivated and can be reactivated later if they still wish to trade.