*This condition applies to all users outside of the Chinese Mainland.

 

 

 

I. All users shall abide by the KYC (Know-Your-Customer), anti-money laundering, anti-terrorist financing, and legality principles set out in this policy:

1. Users shall strictly comply with the platform’s identity verification (know-your-customer, or KYC) policy (including but not limited to the real-name verification requirement) concerning Users’ identity and P2P transaction-related accounts, including but not limited to spot accounts and fiat currency accounts, hereinafter collectively referred to as “Accounts.” Users shall ensure that the Accounts they use on the P2P platform (the “Platform”) are legally registered and only used by themselves.

 

2. When triggering the Platform’s anti-money laundering and anti-terrorist financing alarms, Users shall actively cooperate with the platform in its verification, and assist in providing any risk control evidence as needed (subject to the platform’s risk control measures then effective).

 

3. If Users failed to comply with ( I.2.), the Platform has the right to disable all or any part of the features of their Accounts.

 

4. Users shall be responsible for ensuring that they have the legal rights to the transaction in accordance with applicable laws. The Platform shall not be responsible for the legality or illegality of Users’ transactions in any way. While the Platform is not part of any P2P transactions between the Users, to make sure all transactions are legally compliant, the Platform may (but is not obliged to) review the transactions carried out by users for the legality as necessary and take actions in accordance with applicable laws and regulations.

 

5. It is Users’ responsibility to abide by local laws in relation to the legal usage of the Platform in their local jurisdiction, as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws, all aspects of taxation, the withholding, collection, reporting, and remittance to their appropriate tax authorities.

 

 

 

II. General Trading Instructions:

1. Before you have decided to initiate an order with the counterparty, always read the terms and conditions that have been written on the advertisement description page carefully to avoid unnecessary disputes between the parties after the order gets initiated.

 

2. Always try to include clear descriptions of your terms and conditions. You are encouraged to use point form, bullet points, and write in clear paragraphs.

 

3. Please ensure that the payment method selected (when placing your order) is the same as the one specified in the advertisement description. Both the buyer and the seller are required to use accounts with their real KYC names. Third-party payment is not allowed unless the account is approved and verified by the platform.

 

4. You should never engage in any form of cryptocurrency trading that is facilitated by a third-party channel, such as social media, chat messaging apps, or face-to-face trading. The Platform shall not be and cannot be responsible for any loss of or damages to assets through transactions that are performed or initiated outside of the Platform by the Users. The Platform sets the rules for the transaction between Seller and Buyer, solely to support the user experience on the Platform. The Platform is not part of any P2P transactions.

 

5. Users should refrain from using foul and offensive language when using the Platform. This includes, but not limited to, the tools permitting messaging with other users and the customer support live chat, as well as the order comment section.

 

6. You are required to cooperate with investigations and provide a timely response within the given timeframe in the case of any P2P dispute raised. Investigations are not of a judicial nature; instead, they are designed to assist in resolving your dispute with your P2P counterparty. Your cooperation in the dispute resolution process may include providing relevant information, evidence, or documentation as requested by Bybit’s P2P Trading platform. Failing which, a resolution not in your favor may arise.

 

7. In the case of a dispute initiated against any participant after the order has been completed or canceled, you agree and accept that we reserve the sole discretion, but not the obligation, to freeze the disputed amount of assets for investigation. We further reserve the right and discretion to process the transfer of frozen assets to the appellant if no evidence in your favor is provided within the given time frame during the investigation.

 

8. The Platform reserves the right to refrain from assisting with any dispute if: (i) the issue is reported without valid or required evidence; (ii) the incident occurred more than 60 days prior to the dispute being raised; or (iii) the Platform determines, at its sole discretion, that a fair resolution cannot be reasonably achieved. Where the Platform assisted with resolving a P2P dispute and delivered a decision on the P2P dispute, should you be dissatisfied with the decision/outcome of the P2P dispute, you may raise an appeal against the decision/outcome provided that such appeal on the decision/outcome is raised within 60 days from the date of delivery of the decision/outcome by the Platform. Please note that the obligation is on you as the User to provide the relevant information, evidence, or documentation as requested by the Platform, failing which, the Platform reserves the right to not provide assistance or not continue with the appeal against the decision/outcome, and such decision/outcome should be considered final.

 

9. Nothing in these terms requires us to provide a dispute resolution in your favor. We provide a mediation solution in goodwill. Given the nature of P2P transactions, you assume risks with your counterparty. We cannot and will not act as adjudicators, and you shall exempt us from all liabilities arising thereto from the provision of mediation solutions.

 

10. These terms shall officially take effect on the date they are published and shall be regularly revised or improved. The revisions or improvements shall take effect from the date they are published. Please stop using the P2P Trading platform services immediately if you do not agree with the revised or improved terms.

 

11. Further access to the P2P Trading platform services indicates your full understanding and acceptance of the aforementioned rules, as revised or improved from time to time, as well as your voluntary agreement to be bound by such.

 

 

 

III. Notice to Buyers:

1. Select the payment method supported by the seller and transfer the amount shown on the order page within the time limit provided by the seller within a single transaction. Be sure to tap/click the "Payment Complete" button after completing the payment. Note that if a buyer made the payment for a single order with multiple transactions, it is reasonable for the platform to suspect it is an irregular transaction. In such cases, the buyer may be asked to provide additional proof or be dealt with according to the Management Rules set out below.

 

2. Note that the Platform does not support third-party payment and any payment by buyer using third-party payment shall abide by and be dealt with according to the Management Rules set out below. Only transfer payment to the seller's bank account if the account name matches their registered name on Bybit. The seller’s bank account name must be identical to the verified name on their Bybit account. Do not make payments to a 3rd party account.

 

3. Make the payment in real-time using your verified payment method in the amount specified in the order to the beneficiary's account specified in the order. Non-real-time payment methods may only be selected with the seller's prior consent, and the Platform shall not assume any risk or liability for such.

 

4. Do not click on the "Payment Complete" button until payment is complete. Your account may be frozen if you tap/click the "Payment Complete" button when the payment has not been completed.

 

5. Do not use any sensitive words or phrases related to digital currency in the remarks field/section when making payment to the seller in legal tender. This includes without limitation words or phrases like USDT, Cryptocurrency, and Bybit purchase.

 

6. Communicate with the seller via the chat feature first if the seller does not send you the digital assets within the specified time (hereinafter referred to as "Delivery") after you have sent the payment and clicked "Payment Complete". You may only file a dispute against the seller once compliance with the Platform’s guidelines is confirmed and the procedures specified by the Platform are properly performed (including without limitation providing relevant legal proof in compliance with the Platform’s requirements) and the seller does not reply. The P2P team is available to assist with user complaints upon request and in compliance with the Management Rules set out below and the P2P Appeal Handling Rules. However, the Platform shall not be deemed a party to the P2P transaction. Therefore, the Platform is not obliged to intervene in any P2P transaction disputes between users. Please note that Bybit is hereby entitled to the final interpretation and determination of the penalty in all disputes. Reopening of disputes will be conducted at Bybit's discretion on a case-by-case basis.

 

7. When transferring payment to the seller’s bank account, you shall be responsible in verifying that the seller’s name is identical to his or her name verified and registered on Bybit’s Platform. Bybit shall not be responsible for any losses or liability arising from your error in verification or failure to verify the seller’s identity prior to transfer of payment.

 

8. In the event of a violation of the Notice to Buyers, the Platform may take any action it deems appropriate in accordance with this Policy, the terms of this Policy, or applicable law, including without limitation freezing the violator's account or disabling any account functionality on Bybit's transaction Platform/this Platform.

 

9. The buyer's transaction instructions shall not conflict with this policy's User Terms of Service (prices, fees, notes) when placing advertisements.

 

 

 

IV. Notice to Sellers:

1. The Account owner's name you use for collecting the payment must be consistent with your registered name on Bybit. (The name shall be identical to the verified name on your Bybit account.)

 

2. After confirming receipt of full payment from the buyer, the seller must complete the order within 10 minutes (releasing the cryptocurrency to the buyer, excluding the link confirmation time). Note that the Platform does not support third-party payment and any payment by buyer using third-party payment shall abide by and be dealt with according to the Management Rules set out below. The seller remains fully responsible in ascertaining whether the buyer uses third-party payment prior to accepting an order.

 

3. Ensure the payment method added is clear and unambiguous. All the information shown should be consistent and the buyer should be able to know the payment details and proceed with the payment without any further clarification. Failing to do so is considered suspicious and malicious trading behavior, which may face penalties posted by the platform.

 

4. Unless otherwise specified by the Platform, do not ask Customer Support agents to cancel the order without the Buyer’s consent.

 

5. Pricings for established orders between the Seller and the Buyer are deemed final and non-negotiable. Changing the pricing of the advertisements frequently and causing the counterparty unable to view the latest price while placing the order is considered malicious trading behavior, which may face penalties imposed by the platform.

 

6. Please ensure to stay connected through the mobile phone number or email registered on the Platform in the event of incomplete orders or disputes with buyers.

 

7. In the case of the extra fees charged by the payment service provider, the seller must provide proof of transaction to clearly show the amount deducted. In any situation, regardless of the dispute background and whether the trade is successful, the seller has no right to charge any additional fees or compensation from the counterparty nor request the platform to charge additional fees or compensation on behalf.

 

8. The seller's transaction instructions must not conflict with this policy's User Terms of Service (prices, fees, notes) when placing advertisements.

 

9. In the event of a violation of the Notice to Sellers, the Platform may take any action it deems appropriate in accordance with this Policy, the terms of this Policy, or applicable law, including without limitation freezing the violator's account or disabling any account functionality on Bybit or the transaction platform.

 

 

 

V. Risk Warning and Disclaimer:

1. You are fully aware of the risks inherent in P2P transactions, including, but not limited to, the fluctuation in the value of digital assets, the creditworthiness of the counterparty to a P2P transaction, and the compliance risk associated with legal currency transactions.

 

2. You possess sufficient investment knowledge and experience, are capable of assuming the risks associated with P2P transactions, and agree to assume sole liability for all risks associated with P2P transactions.

 

3. You shall not include any personal data (including social media and messenger) in the transaction conditions or automated reply messengers for the sake of both parties' security.

 

4. You shall not use any sensitive words, including "Bybit," the local bank's name, the payment system or your username or nickname.

 

5. It is prohibited to conduct P2P transactions using multiple accounts. If we discover such accounts, we reserve the right to prevent all associated user accounts from conducting transactions.

 

6. You have read and understood this Policy as well as the Bybit Platform's terms and conditions, consulted with professionals, and independently determined whether and how to conduct P2P transactions based on their recommendations prior to conducting P2P transactions.

 

7. The Platform is not involved in the P2P transaction. As a result, any disputes arising between users regarding P2P transactions are unrelated to the Platform. The Platform has neither the right nor the obligation to resolve any disputes that may arise. The Platform shall not assume any financial or other obligation or liability to any party (including without limitation indemnification).

 

8. You agree and authorize the Platform to take any reasonable action (including, without limitation, canceling transactions or disabling account features in certain circumstances) to protect the legal rights of yourself, the Platform, and any other users in accordance with this Policy and the Bybit Platform terms and rules.

 

9. Please keep in mind that the payment method displayed on Bybit P2P represents the users' legal currency transaction options. Bybit will have no business relationship with the payment method displayed on the Platform.

 

10. If the platform detects any fraudulent trading activities or behaviors that affect platform fairness (such as arbitrage, wash trading, etc.), appropriate measures will be taken against the relevant accounts. These measures may include, but are not limited to, issuing warnings, restricting trading activities, delisting advertisements, and other penalties.

 

 

 

Ⅵ. Irregular Transactions and Corresponding Actions to be Taken:

You agree that, to the maximum extent permitted by law, the Platform shall not be liable for any losses you suffer from P2P transactions or the use of services under this Policy due to reasons other than the Platform’s wilful misconduct or gross negligence, including but not limited to hacker attacks, power outages or unavoidable technical failures.

 

The Platform has the right to restrict, suspend, or terminate your Account or access to services in the Platform’s sole and absolute discretion, immediately and without notice and for a period, at the discretion of the Platform, if:

• There are reasonable grounds to suspect that you violated or attempted to violate this Policy;

• We find that you conduct P2P transactions through multiple accounts;

• We believe it is necessary to protect our other Users. If we exercise our right to restrict or deny your access to the Services, we will not be responsible for any consequences of our failure to provide you with access to the Services, including any delay, damage, or inconvenience that may result;

• If you fail to fulfill the obligations in the investigation process of disputes, it may result in financial loss to other users on the platform.

• We determine that you are using our Platform in any way that may adversely affect or prevent other users from taking advantage of our Services;

• It is revealed that in the process of interacting with other users, you have used obscene language against the counterparty, insulted, extorted, harassed, threatened, or otherwise violated or tried to violate legal rights (such as, among other things, the rights to privacy, publicity, intellectual property, etc.) of other users, as well as have engaged in the collection of private information which has subsequently been distributed to any other parties.

 

You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Account or wallet, may be based on confidential criteria that are essential to our risk management and security protocols. You agree that Bybit is under no obligation to disclose the details of its risk management and security procedures to you.

 

We will remove the suspension as soon as possible once the reasons for the suspension no longer exist. However, we are under no obligation to notify you when (if ever) such suspension will be lifted.