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P2P Trading Rules

2022-05-24 04:10137

Buyer’s Instructions

Before conducting P2P transactions, please complete the following operation for your account as required:

1. Identity verification

2. Link email to your account

3. Link your phone number to your account

4. Set a fund password

5. For an active buy order, please complete payment within the specified time frame and click the “Paid” button. If you cancel an order or an order is automatically cancelled as payment is not made within the time limit after the order is created, the system will record one order cancellation. If 3 orders are cancelled on the same day, the system will prohibit you from buying for that day.

6. If the system records that you cancel an order because the Seller does not provide a valid payment method, and thus you cannot buy for that day, you may ask Customer Support to remove such restriction.

7. If an order is automatically cancelled because the Buyer does not click the “Paid” button after making the payment, the Seller has the right to continue or reject the transaction. If the Seller rejects the transaction, your funds will be refunded to the original payment account.

8. Do not click the “Paid” button when the payment is not yet made or completed. Otherwise, such behaviour will be deemed malicious. If an appeal is filed to such an order, the Seller may reject the transaction. In case of a serious case, the system will freeze your account.

9. If you do not complete the payment within the specified time frame without responding to the Seller, the Seller may reject the transaction when there is an appeal filed to the order.

10. Please make the payment with your real-name verified account (such as bank accounts and other payment accounts). If you use a non-real-name verified account or others’ account to make the payment, the Seller may reject the transaction and refund your payment when there is an appeal filed to the order.

11. Please select an instant payment method so that the transaction can be timely completed.

12. If the Seller does not receive the funds 10 minutes after you click the “Paid” button, the Seller may reject the transaction when there is an appeal filed to the order.

13. Please check the latest payment method supported by the Seller to confirm that the Seller’s account is accurate. If you do not transfer to the account designated in the order, you should assume the fund security risk by yourself.

14. The digital assets of the ongoing order are locked on the Platform; if the Seller does not release the digital assets to you 10 minutes after you complete the payment and click the “Paid” button, you may file an appeal; as long as your operation complies with the rules, the Platform will determine that you are the owner of the digital assets.

15. Please make sure no sensitive words or expressions related to Digital currency are used in the remarks field/section, including, but not limited to, words such as USDT, BTC, Bitget, and Cryptocurrency. Otherwise, the Seller may request to reject the transaction and refund your payment.

Seller’s Instructions

1. Please carefully confirm your selling price. In case of an appeal arising from the ad price, the Platform will determine that the Buyer is the owner of the asset as long as the Buyer does not violate the rules.

2. If an order is automatically canceled because the Buyer does not click the “Paid” button after making the payment, the Seller has the right to continue or reject the transaction. If you reject the transaction, you should refund the Buyer’s payment to the original payment account.

3. You may file an appeal if you do not receive the payment 10 minutes after the Buyer clicks the “Paid” button; you may file an appeal, reject the transaction, and refund the payment if the Buyer clicks the “Paid” button when the payment is not yet made or completed, the payment cannot be received within 2 hours, or the order is cancelled after the payment is made.

4. Please carefully check whether the real-name information of the Buyer’s payment account is consistent with that on the Platform when you receive the payment. In case of any inconsistency, the Seller has the right to request the Buyer and the payer to conduct video KYC with their ID cards or passports, etc. If an appeal is filed to such an order, the Seller may reject the transaction and refund the payment. If the User accepts non-real-name verified payment, causing the counterparty’s payment account to be frozen, the Platform will investigate the source of the funds in question, and has the right to directly freeze the User’s account on the Platform.

5. Please release the crypto the moment you receive the payment. If you do not release the crypto within the specified time frame after the Buyer marks the order status as “Paid” in compliance with the rules, the Buyer has the right to request that the transaction not be conducted and that the payment be refunded when there is an appeal filed to the order. If you refuse to cooperate, the Platform will directly release the crypto to the Buyer and freeze your account.

6. Please make sure that you are contactable and able to timely handle the order when you post an ad so that transactions can be timely completed; if you cannot guarantee timely handling of transaction orders, please take your ads offline to avoid potential appeals or disputes.

Advertiser’s Instructions

Before posting a P2P transaction ad, please complete the following operation for your account as required:

1. Identity verification

2. Link email to your account

3. Link your phone number to your account

4. Set a fund password

5. Set a payment method

6. Please take your ads offline in advance if you will not be able to timely handle orders for being away from the keyboard. If orders related to the ads are created, the orders should be deemed as normal orders and should be handled following the norma l trading process.

7. In terms of Buy ads, if you cancel 3 orders on the same day, the system will prohibit you from buying for that day and suspend auto-matching for all your ads until the next day.

8. The Seller should carefully check whether the real-name information of the Buyer’s payment account is consistent with that on the Platform upon receipt of the payment. In case of any inconsistency, the Seller has the right to request the Buyer/payer to conduct video KYC with their ID cards or passports, etc. If an appeal is filed to such an order, the Seller may reject the transaction and refund the payment. If the User accepts non-real-name verified payment, causing the counterparty’s payment account to be frozen, the Platform will investigate the source of the funds in question, and has the right to directly freeze the User’s account on the Platform.

P2P Trading Risk Control Rules

1. When the total times or amount of P2P transactions reach(es) the threshold for risk control standards on a calendar day, the system will launch liveness detection to ensure Users’ account safety.

Users Should Comply with AML Principles

1. Users should comply with the Platform’s AML/KYC and CTF Policies and strictly fulfil the obligations stipulated therein.

2. Users should meet the Platform’s requirements for identity and account verification, and ensure that their accounts displayed on the Platform are legally registered and used.

3. If Users trigger the Platform’s AML risk control early warnings, they should actively cooperate with the Platform in further AML verification and provision of risk control evidence (the specific measures are subject to the Platform’s requirements for risk control review at that time).

Measures to Be Taken When Risk Control Are Triggered

Risk Control Abnormalities

Measures

1. When abnormalities are detected by the risk control system, Users explicitly refuse or do not actively cooperate with the Platform for subsequent AML verification.

The platform may opt to directly determine the accounts as abnormal, and take measures, including but not limited to raising users’ risk level, directly freezing users’ accounts and other related accounts until risk control evidence provided by Users passes the risk control review by the platform.

2. It is verified that Users have conducted high-risk behaviours, such as buying digital assets from Bitget P2P and selling them to other platforms or in OTC markets for profit.

The Platform may opt to take measures, including but not limited to postponing withdrawal, restricting transactions, and freezing accounts, depending on the circumstances.

Note: Once such behaviours are identified, advertisers may choose to not complete the transactions if there are ongoing orders.

3. Accounts are not used by Users or illegally used to buy crypto for others: Users are found to have sold, lent, or rented their Accounts to others, or have illegally purchased crypto for others.
Risk warning: Please keep your information safe to avoid being exploited by others for criminal acts.

The platform may take one or more measures, including but not limited to temporarily or permanently disabling the P2P trading feature, delaying or disabling the withdrawal feature, or directly freezing such users’ accounts and associated accounts.

Note: Once such behaviours are identified, advertisers may choose to not complete the transactions if there are ongoing orders.

4. Use another user’s account to test whether his or her card is frozen: Users transfer small amounts to other users on the platform when there are no orders without a reasonable explanation for such behaviour.

The platform may take one or more measures, including but not limited to temporarily or permanently disabling the P2P trading feature, disabling the withdrawal feature, or freezing such users’ accounts.

5. Receipt or introduction of digital assets or funds from illegal sources: Users know or can reasonably infer with common sense that the digital assets and funds received from other platforms/WeChat groups are illegal, yet still allow them to flow into the accounts of other users on the platform.

The platform may directly and permanently disable all the features of such users’ Accounts and associated accounts.

6. Users identified as having committed money laundering: When users are detected by the risk control system or verified by risk control staff as having directly participated or assisted in money laundering.

The platform may directly and permanently disable all the features of such users’ Account and associated accounts.

7. Account freeze: When users’ accounts have been frozen upon the request of a judicial institution.

The platform may freeze the users’ accounts in accordance with the letter issued by a judiciary institution. Upon expiration of the freezing period, the judiciary institution needs to present a renewed letter to extend the freezing period. During the freezing period, the Users shall contact the relevant judiciary institution, instead of the Platform, to resolve the matter.

8. Judicial investigation: Users are requested by a judiciary institution to retrieve account information on the Platform, in the forms of, including but not limited to, judicial investigation and consultation.

The platform may disable certain features of the users’ accounts and associated accounts.

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