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BitMart P2P User Agreement

Welcome to the P2P (Peer-to-Peer) service provided by BitMart!

 

This Agreement is made between BitMart (hereinafter referred to as "Platform" or "we") and the users on the platform (hereinafter referred to as "you"). Once you start using the P2P service (hereinafter referred to as "this Service") through our website, API (if any), or mobile application interface, it means that you have carefully read, understood, and voluntarily accepted various related rules and announcements in this Agreement and its related service pages, including any modifications, revisions, or changes we make to this Agreement at any time and any new rules and regulations that may be issued in the future (collectively referred to as "this Agreement"). If you do not agree to the content of this Agreement and the modified rules, please stop using the P2P service of this Platform immediately.

 

This Agreement is a supplement to the BitMart User Agreement. In the event of any conflict or inconsistency between any terms or provisions stipulated in this Agreement and the BitMart User Agreement, priority shall be given to this Agreement to resolve such conflicts or inconsistencies. All other provisions not modified by this Agreement in the BitMart User Agreement shall remain fully effective.

 

1. Definitions

 

1.1 This Service is provided by us and allows users to trade Digital Assets with other users. Users can trade Digital Assets on the Platform as Merchant, Seller, or Buyer through this Service.

 

1.2 This Service facilitates users to buy or sell their Digital Assets on the Platform, with BitMart acting as a neutral platform. We provide 24-hour service, and Buyer and Seller should make payments offline. BitMart does not hold any legal payments, nor is it responsible for unpaid or delayed payments related to legal consideration.

 

1.3 "Service Fee" refers to the fee that users must pay to the Platform when subscribing to or participating in this Service.

 

1.4 "Merchant" refers to a user who publishes Advertisements to buy or sell any Digital Assets on the Platform.

 

1.5 "Advertisement(Ads)" refers to an offer published through this Service on the Platform, including the quantity of Digital Assets the user wishes to trade, the price, the payment method used in the transaction, Order Limits, Payment Windows, and other applicable terms and conditions decided by the user who publishes the offer.

 

1.6 "Buyer" refers to a user who uses this Service on the Platform to buy Digital Assets from a Merchant or Seller.

 

1.7 "Order" refers to the commitment transaction of Digital Assets on the Platform agreed upon by the Merchant and the Buyer based on the terms and conditions listed in the relevant Advertisement. The confirmation of the Order represents the user's acceptance of the transaction offer published in the Advertisement.

 

1.8 "Order Limit" refers to the minimum and maximum quantity of Digital Assets or fiat currency that can be traded in a single order, determined by the Merchant in a specific Advertisement.

 

1.9 "Payment Window" refers to the period set by the Merchant within which the transfer of fiat currency as consideration for Digital Assets should occur.

 

1.10 "Seller" refers to a user who uses this Service on the platform to sell Digital Assets to Merchant or Buyer.

 

1.11 "Transfer Fee" refers to the total amount of fees or charges levied by the payment Service provider chosen by both parties for transferring the consideration in fiat currency from the Buyer to the Seller.

 

1.12 “Depositrefers to the Merchant delivering a certain amount of security deposit to the Platform according to the management rules.

 

2. Service Content

 

2.1 You can use this Service on the Platform to buy, sell, or promote your intention to buy or sell Digital Assets. For detailed information on trading guidelines and disclaimers, please refer to the BitMart P2P Trading Guide and the Disclaimer for P2P Trading Services.

 

2.2 As a Merchant, you can publish P2P offers on the Platform for buying and selling Digital Assets through Advertisements. The Platform reserves the right to charge Merchants and to independently decide to introduce or adjust fees from time to time. There are certain requirements and eligibility criteria for advertising on the Platform through this Service (subject to periodic revisions by the Platform). When trading with other users on the Platform through this Service, you are not allowed to share any personal information, social media or social network details, or any other contact information in the Advertisement terms and conditions.

 

2.3 Whether or not you are a Merchant, you may either be a Buyer or Seller of Digital Assets on the Platform through this Service.

 

2.4 You understand and agree that by placing an Order under an Advertisement, you are accepting the offer published in the Advertisement and committing to trade Digital Assets. In this case, the Platform locks the quantity of Digital Assets listed in the Order until the transfer of the fiat currency as consideration for the Digital Assets between the Buyer and the Seller is successfully completed. You understand and agree that the locked quantity of Digital Assets may not be used in any way unless the Order is canceled or released to the Buyer after the completion of the transfer of the fiat currency for the Digital Assets between the Buyer and the Seller.

 

2.5 You understand and agree that the Platform is not a party to any transaction you conduct through this Service, and you will directly transact with other users. The Platform cannot control the transaction amount, price and payment method, Order Limit, Payment Window, other terms and conditions of each Advertisement, as they are determined, controlled, and managed by the Merchant themselves. The Platform only acts as a facilitator for any transaction conducted through this Service by the users, and therefore, the Platform does not make any guarantees, representations, or commitments regarding any elements related to any transaction.

 

2.6 Experienced Merchant who engages in frequent trading activities and have a high Order completion rate on the Platform can apply to become certified Merchant and enjoy certain benefits when trading on the Platform. Verified Merchants are required to periodically comply with the BitMart P2P Merchant Guideline. You may also need to agree to additional terms and conditions to complete your registration as a verified merchant (if applicable in your jurisdiction).

 

2.7 Payment Methods

 

(a) The available payment methods on the Platform are displayed as options for users to conduct fiat currency transfers. Unless otherwise expressly provided, the listed payment methods on the Platform have no relationship in any form. The availability of payment methods on the Platform should not be interpreted as an endorsement, review, or approval by the Platform.

 

(b) In order to conduct transactions through this Service, each Merchant must specify one or more payment methods for their Advertisements, which must be payment methods available under the Platform's services, to allow other users to place Orders under such Advertisements. These payment methods should be agreed upon by the  Merchant and other users who wish to complete transactions using the payment method specified by the Merchant, and should involve the completion of fiat currency transfers as consideration for the Digital Assets transactions.

 

(c) Each party conducting transactions through this Service must have a payment method, the account owner's name of which must match the name displayed on their Platform account and be confirmed during the identity verification process. The Platform prohibits the use of any payment method with an account owner's name that does not match the name displayed on Platform account. If it is determined that the payment method you are using does not match the name displayed on your Platform account, the Platform reserves the right to suspend or terminate your use of this Service or any other services provided by the Platform.

 

(d) You understand and agree that by placing an Order as a Buyer or Seller, you authorize the Platform to display your username/Merchant name and share your full name confirmed during the identity verification process on your Platform account with the user on the other side of the transaction.

 

(e) If you are a Buyer, you are required to conduct a fiat currency transfer within the Payment Window specified in the Advertisement after placing an Order as consideration for the Digital Assets. The Platform will not deduct the fiat currency to be transferred to the Seller; you are responsible for conducting the transfer using the payment method specified in the Advertisement outside of this Service. After completing the fiat currency transfer, you need to click the "Confirm Transfer" button. If you repeatedly cancel Orders after placing them, or if you repeatedly automatically cancel Orders due to failure to conduct a fiat currency transfer within the Payment Window, you may lose the ability to use all or part of this Service. The Platform reserves the sole right to decide to suspend or terminate any user's use of this Service. For details, please refer to: BitMart P2P Users Transaction Policy.

 

(f) If you are the Seller, you are fully responsible for verifying the Buyer's fiat currency transfer for the purchase of Digital Assets and providing instructions to the Platform to release the ordered Digital Assets. Once you have fully received the Buyer's fiat currency payment, you should click "Release crypto". The Platform advises you to confirm the release of Digital Assets within fifteen (15) minutes and in any case, to confirm within a reasonable time after receiving the full amount of the Buyer's fiat currency payment. By clicking "Release crypto", you confirm that you have successfully received the fiat currency transferred from the Buyer and instruct the Platform to release the escrowed Digital Assets to the Buyer to complete the Order. This action is final and cannot be undone. To avoid economic loss, do not confirm the release of Digital Assets under any circumstances until you have ensured the full corresponding fiat currency payment from the Buyer. Unless otherwise provided by law, all payments are final after completion. If you see that the account holder information of the Buyer's fiat transfer payment method does not match the user-verified identity information displayed on the Platform, do not release the Digital Assets and return any currency you may have received. If you repeatedly fail to timely confirm the release of Digital Assets after receiving the Buyer's fiat currency transfer, you may lose the right to use all or part of this Service.

 

(g) By using this Service to trade on the Platform, the Buyer agrees to bear any Transfer Fee that the respective payment service provider may charge, which are paid through the payment method chosen by both parties, unless the Seller explicitly agrees to bear such additional fees or costs. Therefore, the fiat currency transferred by the Buyer as consideration for trading Digital Assets must include any Transfer Fee to ensure that the Seller receives the full amount of fiat currency displayed in the Order (e.g., if the Order amount is $1,000 and the selected payment method's payment service provider charges an additional $5, the Buyer should pay $1,005 instead of $1,000). If such Transfer Fee are charged to the Seller by the respective payment service provider, the Seller should clearly disclose this in the Advertisement (if the Seller is a business) or provide proof of such Transfer Fee to the Buyer. When transferring fiat currency between the parties, payment service providers including but not limited to banks and e-wallets may charge fees, and both parties agree to bear their respective fees.

 

2.8 If you use certain fiat currencies for transactions (specifically determined by the Platform), you may need to wait for no more than fifteen days to withdraw the Digital Assets purchased through the Service on the Platform. The waiting period will start when the Digital Assets are disbursed to you. Any other transaction activities you may conduct using the Platform account during the withdrawal waiting period will not be affected.

 

2.9 The Platform reserves the right to charge Service Fee for processing any transactions on this Platform through this Service. Payment service processors may also charge Transfer Fee when processing fiat currency payments for any transactions conducted by the Buyer and Seller through this Service. Such Service Fee and Transfer Fee (if applicable) shall be publicly disclosed on the Platform and may be modified from time to time.

 

2.10 You will be able to view your account history on the Platform. You must carefully review your account history, and if you find any items or transactions that you are uncertain about or believe to be incorrect, please inform the Platform as soon as possible. The Platform may correct any errors in your account history at any time and reserves the right to cancel or revoke any transaction:

 

(a) Involving or arising from obvious errors (i.e., any obvious errors, omissions, or misquotations (whether from the Platform or any third party's error), including any current misquotations and current advertising quotes, or any errors in information, sources, officials, official results, or pronunciations); or

 

(b) Reflect any trading details that any Platform reasonably considers to be correct or fair.

 

2.11 Under applicable laws and regulations, the Platform may need to share information about your account and use of the Platform with third parties. You acknowledge, agree, and authorize the Platform to disclose such information.

 

2.12 As the Platform is not a party to transactions between Buyer and Seller, it has no right or obligation to resolve any disputes between the parties, nor is it responsible for any losses you may suffer or incur in relation to your transactions or payments. Nevertheless, purely out of goodwill, in the course of transactions through this Service, if conflicts arise that the parties cannot amicably resolve, the Platform may provide channels or mechanisms to facilitate the resolution of disputes between Buyer and Seller. The Platform does not in any way declare, promise, or guarantee that it can resolve disputes to the satisfaction of both parties; it merely provides a mediation channel. If any user is uncooperative in this mediation process, the Platform reserves the right to suspend or terminate the use of this Service or any other services provided by the Platform. If you repeatedly post Advertisements that cause multiple disputes, you may be unable to use all or part of this Service or any other services provided by the Platform. The Platform reserves the final right to interpret and judge any dispute resolution, and depending on the specific circumstances, it has the right to decide whether to reconsider or accept a dispute for resolution.

 

2.13 You may be required to rate and/or provide feedback on the counterparty in a transaction to share your experience with any transaction conducted through this Service on the Platform. The rating and feedback mechanisms are designed to create a transparent environment for all users, and such ratings are visible to any user conducting transactions through this Service on the Platform. If your rating falls below the acceptable level determined by the Platform, you may lose all or part of the access to using this Service or any other services provided.

 

2.14 When using this Service, you may access certain content or use services provided by third parties, including hyperlinks to third-party websites, mobile applications, and services of such third parties (collectively referred to as "third-party content"). The Platform does not endorse, approve, adopt, or control any such third-party content, and in no event shall it be liable or obligated for any such third-party content, or for any transactions or communications with such third parties. The Platform is not responsible for any losses, damages, or claims of any kind arising from your transactions or interactions with any third party or related to any such third-party content, and it is advised that you assume your own risks.

 

3. Declaration and Guarantee

 

In agreeing to this Agreement, you are declaring, warranting, and/or undertaking that:

 

3.1 You will not use this Service for any illegal purposes, including but not limited to illegal gambling, money laundering, fraud, extortion, blackmail, data breaches, terrorism financing, other violent activities, or any commercial activities prohibited by law.

 

3.2 You will not engage in, initiate, or promote any form of market manipulation, price manipulation, insider trading, market distortion, any other malicious market behavior, or other forms of illegal activities, including but not limited to illegal gambling, money laundering, fraud, extortion, blackmail, data breaches, terrorism financing, other violent activities, or any commercial activities prohibited by law.

 

3.3 The Merchant guarantees that the use of this Service under this Agreement is entirely for legitimate purposes. You are strictly prohibited from using this platform and the privileges it enjoys to engage in money laundering, smuggling, commercial bribery, malicious market manipulation, or interference with trading systems and any other illegal trading activities or improper conduct. If it is found that you have violated the above provisions through the platform, we have the right to take a range of punitive measures against you, including but not limited to account restrictions, freezing, revocation of advertising qualifications, deduction of Deposit, referral to judicial authorities, and we shall not be liable for any losses incurred by you or any related third party as a result.

 

4. Suspension or Termination of Service

 

4.1 In the event of any of the following circumstances, the Platform reserves the right to suspend, or terminate your access to the Platform, impose restrictions on any Platform account, suspend or terminate your ability to subscribe to this Service, or delay certain transactions:

 

(a) You fail to provide additional information to verify your identity or the source of your funds as required by the Platform;

 

(b) The Platform is required to comply with any court order to adhere to applicable laws and regulations (including anti-money laundering or sanction laws);

 

(c) The Platform complies with any directives or orders from government departments or agencies;

 

(d) The Platform reasonably determines that any information you have provided to the platform is incorrect, untrue, outdated, or incomplete; or

 

(e) You fail to provide additional information as requested by the Platform in a reasonable, satisfactory, or timely manner.

 

4.2 You acknowledge that the Platform's decision to take certain actions (including restricting, suspending, or terminating your access to this Service or your Platform account) may be based on confidentiality standards crucial to our risk management and security protocols, including but not limited to our inability to provide you with reasons for such restrictions, suspensions, or terminations, and ongoing investigations conducted by us and/or third parties (such as law enforcement agencies). You agree that the Platform is not obliged to disclose the details of its risk management and security procedures to you. Once the reasons for suspending this Service disappear, the Platform shall promptly restore your right to use this Service. However, in any case, the Platform is not obligated to inform you when such suspension will be lifted, and the Platform also does not guarantee, promise, or commit to lifting such suspension.

 

5. Deduction of Deposit

 

In the event of Deposit deduction, the Platform reserves the right to partially or fully deduct your Deposit in the following circumstances:

 

(a) The Merchant is involved in a dispute during a transaction, and the Platform  determines that the Merchant is at fault and should assume responsibility and fulfill corresponding obligations, but the Merchant fails to cooperate after being contacted, resulting in harm to other users.

 

(b) The Merchant seriously or repeatedly violates the BitMart P2P Users Transaction Policy and is accordingly penalized by the Platform's corresponding implementation rules.

 

(c) The Merchant engages in any illegal or unethical behavior, such as money laundering, illegal evasion of foreign exchange controls, malicious manipulation of trade prices, or malicious disruption of trading order, using the Platform.

 

(d) The Merchant engages in unauthorized use of the BitMart brand for false advertising or maliciously misleading associations, causing damage to the Platform's brand image.

 

(e) The Merchant improperly borrows multiple bank cards from others, uses others' bank cards for payments, or engages in other illegal activities such as money laundering, resulting in harm to related users or third parties.

 

(f) The Merchant has outstanding disputed Orders due to objective reasons making it impossible to contact Merchant.

 

(g) In other circumstances where the Platform reasonably determines the need to deduct Deposit.

 

6. Limitation of Liability and Exemption

 

In addition to complying with the responsibilities and limitations set forth in the "BitMart User Agreement," you should carefully read and adhere to the following terms of liability exemption or limitation:

 

(a) You should pay special attention to the risks related to anti-money laundering. In order to ensure the security of your transactions and assets, you must strictly follow the procedures and rules provided for transactions, and conduct identity verification and authentication of the transaction party in accordance with the requirements of KYC and anti-money laundering. Otherwise, you may face the risk of asset freeze due to the involvement of the counterparty in criminal activities, and the Platform shall not be responsible for any losses incurred as a result.

 

(b) The platform only provides information matching services for peer-to-peer digital asset transactions, and the buying and selling activities on it are independently and spontaneously completed by users. The Platform does not participate in the entire transaction process. If you incur losses due to violations of Platform trading rules and agreement provisions, you bear the risk yourself, and we do not assume any compensation responsibility for this. We also do not endorse any rule-violating behavior of Merchant, nor do we assume joint liability for any adverse consequences arising from the Merchants themselves.

 

(c) In order to prevent criminals from using this Platform for money laundering and other illegal activities, Merchants should avoid introducing illegal assets into this Platform. Otherwise, if it is confirmed by the Platform that you are suspected of using this Platform to engage in various forms of illegal or unethical behavior, we have the right to take various punitive measures against you, including but not limited to account restrictions, freezing, revocation of Merchant qualifications, deduction Deposit, and referral to judicial authorities, and we do not assume any responsibility for any losses incurred by you or related third parties as a result.

 

(d) In order to conduct identity verification, this Platform may contain links to third-party websites (such as online banking websites). The "linked websites" are not controlled by this Platform, and we do not make any guarantees or promises regarding any information, products, services, or any other content that does not belong to us, provided by any third-party websites linked in this Platform. If you use any services, information, and products provided by third-party websites, it is your personal decision, and therefore you should bear all responsibilities arising from this.

 

7. Miscellaneous

 

7.1 The contents of this Agreement also include Platform's various system specifications, other agreements or rules as mentioned in this Agreement, and other relevant agreements and rules regarding this Service that Platform may issue from time to time. Once the above content is officially released, it is an integral part of this Agreement, and you should also abide by it. In the event of any conflict between the above content and this Agreement, this Agreement shall prevail.

 

7.2 You should carefully read the Agreement, and any document referred to in Section 7.1 of this Agreement that constitute the contents of this Agreement. If there is anything that you do not understand in the Agreement and any document referred to herein, you should contact Platform and seek for clarification.Any formal communication between you and Platform should, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the communication in English and that in a foreign language, the English version shall prevail. In the event of any discrepancy between the English version of this Agreement and any translated version, the English version of this Agreement shall prevail.

 

To BitMart: support@bitmart.com

 

7.3 If any provisions of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired in any way. However, if any provisions of this Agreement shall be invalid, illegal or unenforceable under any such applicable law in any jurisdiction, it shall, as to such jurisdiction, be deemed modified to conform to the minimum requirements of such law, or if for any reason it is not deemed so modified, it shall be invalid, illegal or unenforceable only to the extent of such invalidity, illegality or limitation on enforceability without affecting the remaining provisions of this Agreement, or the validity, legality or enforceability of such provision in any other jurisdiction.

 

7.4 The failure of our enforcement of any right or provision of this Agreement will not be deemed a waiver of such right or provision.

 

7.5 The Platform shall have the sole and final discretion to interpret this Agreement.

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