Part I. ALL USERS SHALL ABIDE BY THE KYC (KNOW-YOUR-CUSTOMER), ANTI-MONEY LAUNDERING, ANTI-TERRORIST FINANCING, AND TRADING RULES SET OUT IN THIS POLICY
1. P2P (peer-to-peer) transactions are trades carried out directly between two users. 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. Users shall ensure that the Accounts they use on the P2P platform (the “Platform”) are legally registered and only used by themselves.
2. Your use of P2P trading services and all information, materials, and other content (including that of third parties) included in or accessible from P2P trading services are solely at your own risk. The Platform is only responsible for the digital asset transaction process on the Platform. All payments are final upon completion unless otherwise required by law. The Platform has neither the right nor obligation to resolve any dispute or claim arising from a completed payment. The Platform shall not be liable for any loss that may result in or arise from a completed payment. 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, 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.
Part 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 that has been used during the order is consistent with the payment method that you have selected during the advertisement configuration.
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. Both trading parties should bear the additional transaction costs involved in fiat transfers, for example, transaction fees required by the payment service provider, unless either party has explicitly agreed to pay for the additional transaction costs before the establishment of trade.
Part III. Buyer's Instructions
1. You must choose a payment method supported by the Seller and transfer the amount as shown on the order page within the time specified by the Seller.
2. Please use the payment method with the account owner name that is consistent with your registered name on Pionex (The name must be identical to your verified name on Pionex.) The Platform does not support non-real-name-verified payment methods. The User's P2P function will be suspended if a non-real-name-verified payment method has been used.
3. Only transfer payment to the seller's bank account if the account name matches their registered name on Pionex. The seller's bank account name must be identical to the verified name on their Pionex account. Do not make payments to a 3rd party account.
4. In case of any violations of this Policy and any applicable Pionex rules, the Platform may, in accordance with this Policy, Pionex Terms of Service, or relevant laws and regulations, or in its sole discretion, take measures as it considers fit, including but not limited to freezing the violator's Account or disabling any account functions on the Pionex trading platform or/and the Platform.
Part IV. Seller's Instructions
1. The Account owner name you use for collecting the payment must be consistent with your registered name on Pionex. (The name shall be identical to the verified name on your Pionex account.)
2. In case of a transaction dispute and the Seller was found to have sent 3rd party payment details, the seller in this order shall bear the loss solely.
3. Pricings for established orders between the Seller and the Buyer are deemed final and non-negotiable.
4. When placing an ad, the Sellers' instructions in the terms of trade must not contradict this Policy.
5. In case of any violations of this Policy and any applicable Pionex rules, the Platform may, in accordance with this Policy, Pionex Terms of Service, or relevant laws and regulations, or in its sole discretion, take measures as it considers fit, including but not limited to freezing the violator's Account or disabling any account functions on the Pionex trading platform or/and the Platform.
Part V. Risk Warning and Disclaimer
Users must fully understand the risks associated with P2P transactions, including but not limited to the risk of fluctuations in the value of digital assets, the credibility risks concerning the counterparties under P2P transactions, and the compliance risks of fiat currency transactions.
Users must have sufficient investment knowledge and experience and the ability to bear the risks associated with P2P transactions, as well as agree to independently bear all the risks arising from the engagement in P2P transactions.
Users should not indicate any personal information (i.e., phone number, social networks, messengers, etc.) neither in the trading conditions nor through any communications.
Users should not include “Pionex”, names of any financial institutions and payment systems, personal information or any other sensitive words in their nicknames.
Users must not utilize multiple accounts to trade on the P2P Platform. In case such accounts are detected, we have the right to block all linked user accounts from trading.
Before a P2P transaction, you must have read and understood all contents of this Policy, Pionex Terms of Service, and relevant Pionex rules.
Neither the Platform nor Pionex is a party to any P2P transaction. Therefore, any disputes between Users engaging in P2P transactions have nothing to do with the Platform or Pionex. The Platform has neither the rights nor the obligations to resolve any disputes arising therefrom. It is not obliged to assume any financial or non-financial obligations or responsibilities to any party (including but not limited to indemnities).
Third parties, such as verification service providers, escrow agents, payment providers, custodians, and/or banks, may be involved in any P2P trading services transactions. You may be subject to the terms and conditions of these third parties. The Platform shall not be responsible for any loss arising or resulting from any third party.
You agree and authorize the Platform to take all reasonable actions (including but not limited to canceling transactions or disabling account features under certain circumstances) in accordance with this Policy, Pionex Terms of Service, and relevant Pionex rules to safeguard your, the platform's and other Users' legitimate rights.
Please note that the payment methods on Pionex P2P are displayed as options of fiat transactions between Users. Pionex does not establish any form of business relationship with the payment method listed on our P2P platform.
Part VI. Abnormal Trading Behaviors and Measures to Address Them
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, 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:
We reasonably suspect that you have violated or may be acting in violation of this Policy; or
We detect that you are using multiple accounts to trade on P2P; or
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; or
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.
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 Pionex 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.