Rules of P2P trading area

Notice to buyer users:

1 . Please complete the payment within the time specified in the ad and click the Confirm Payment button. If the buyer cancels the order or the order is cancelled because of timeout, the system will record the buyer canceling the order once.

2 . If the Taker (Non advertising trader) has accumulated 3 order cancellations on the same day, the buying function will be restricted that day.

3 . If the Maker (Advertising trader) releases the ad for purchase but accumulates 3 order cancellations on that day, the buying function will be restricted that day.

4 . If the seller does not provide a valid payment method causing the system to record the buyer canceling the order and as a result the buyer’s buying function is restricted that day, the buyer can contact the platform official to lift the restriction.

5 . If the buyer has paid but didn’t click the ‘Confirm Payment’ causing the cancellation of order because of timeout, the seller has the right to choose to continue the transaction or refuse the transaction. If the transaction is refused, the seller must return the money to the buyer.

6 . Please don’t click the ‘Confirm Payment’ without completing the payment or without paying, which is a malicious act. When such an order is appealed, the seller can refuse the transaction. If the circumstances are serious, the system will freeze the buyer’s account.

7 . Please use account with your real name payment account (such as bank account, Alipay account, Wechat payment account)WeChat payment) to pay. If you use a non-real name account or someone else’s account to pay, the seller can choose to refuse the transaction and refund if the order is complaint.

8 . In order to ensure the timeliness of the transaction, please select the real-time remittance method, such as Alipay, WeChat payment, bank real-time remittance, etc. In order to ensure the timeliness of payment, remittances that are more than 50,000 should be paid in batches and please don’t use Alipay transfer to bank card or WeChat transfer to bank card to pay when it is 17:00-9:00 on holidays or working days.

9 . Please check the seller’s latest payment method and confirm the accuracy of the collection account. If the buyer does not remit to the agreed account according to the order, he must assume the risk of financial security himself.

10 . The cryptocurrency asset corresponding to the in-progress order will be locked on the platform. If the seller doesn’t release the currency in 5 minutes after you completed the transfer and clicked the ‘Confirm Payment’, you can choose to complain the order. If you fully complied with the above operation, we will determine that the asset belongs to you.

11 . If the real name of the payment account is inconsistent with the platform certification, the seller has the right to choose the following operations:

  • Require the buyer to conduct a video KYC holding the ID card or passport in order to prove that the source of funds is legal.

  • Refund and refuse the transaction.

  • Keep the cryptocurrency for 72 hours without releasing it. After 72 hours, the seller decides whether to release the cryptocurrency or to refund.

Note: For trading disputes, the platform has the final jurisdiction. For actions such as freezing orders maliciously, malicious payment, defrauding through transactions, etc., the platform can choose to freeze the account and assist the judicial authorities if necessary.

12 . Please don’t fill in keywords like BTC, bitcoin, Utomarket, etc as payment description, otherwise the seller can request a refund and refuse the transaction.

Notice to seller users:

1 . When you are selling, please confirm the price carefully. For complaints arising from ad price issues, if the buyer does not violate any rules, we will determine that the assets belong to the buyer.

2 . If the buyer has paid but did not click the ‘Confirm Payment’ in time, causing the cancellation of order because of timeout, the seller has the right to choose whether to continue the transaction or refuse the transaction. If the transaction is refused, the seller must return the money to the buyer.

3 . If the seller has not received the payment 5 minutes after the buyer clicked the ‘Confirm Payment’, the seller can choose to complain. If the buyer doesn’t follow the rule of clicking ‘Confirm Payment’ after paying, or the payment fails to be received in 2 hours or the order is cancelled after the payment, the seller can choose to complain, refund and refuse the transaction.

4 . When receiving payment, please carefully verify that whether the real name information of the buyer’s payment account is consistent with the platform real name information. If there is any inconsistency, please pay attention to the risk of receiving payment. When such an order is appealed, the seller can choose to refund and refuse the transaction. If the user accepts the non-real name payment, causing the payment account of another person to be frozen, the platform will investigate the source of the abnormal funds, and have the right to directly freeze the user’s platform account and cancel the merchant certification.

5 . After checking the payment, please release the cryptocurrency at the first time. If the buyer has not violated any rules and marked the order status as ‘Paid’, but the seller failed to release, the buyer has the right to request the refund and refuse the transaction when this order is appealed. If the seller refuses to cooperate, we will release the cryptocurrency to the buyer directly and freeze the seller’s account.

6 . In order to ensure the timeliness of the transaction, please make sure that you can be online and process the order in time when you place an ad. If you cannot guarantee the timely processing of the transaction order, please remove the ad in time to avoid unnecessary disputes.

7 . If the real name of the payment account is inconsistent with the platform certification, the seller has the right to choose the following operations:

  • Require the buyer to conduct a video KYC holding the ID card or passport etc., in order to prove that the source of funds is legal.
  • Refund and refuse the transaction.
  • Keep the cryptocurrency for 72 hours without releasing it. After 72 hours, the seller decides whether to release the cryptocurrency or to refund.

Note: For trading disputes, the platform has the final jurisdiction. For actions such as freezing orders maliciously, malicious payment, defrauding through transactions, etc., the platform can choose to freeze the account and assist the judicial authorities if necessary.

Notice to Maker(Advertiser) users:

1 . If you are not next to your device or offline and cannot process the order in time, please remove the ad in advance. If any order is generated by such ads, the order is normal order and will be processed in the normal transaction process.
2 . If you place an ad for purchase but accumulate 3 order cancellations on that day, your buying function will be restricted that day.
3 . When receiving payment, please carefully verify that whether the real name information of the buyer’s payment account is consistent with the platform real name information. If Maker receives a non-real name payment, causing other’s payment account to be frozen, the platform will investigate the source of the abnormal funds, and have the right to directly freeze the Maker’s platform account.

Notice to Taker(Non-advertiser) users:

1 . If the account user and the account certifier are inconsistent, the platform has the right to choose the following operations:
  • Require the account user to conduct a KYC video, holding his ID card or passport, etc.
  • Require the account user to prove his relationship between he and the account certifier.
  • The platform has the right to restrict transactions and withdrawal for 3-7 days, according to the rules of risk control.
  • If the relevant evidence cannot be provided, the platform has the right to permanently restrict the transactions and withdrawal.

The rules will be optimized in real time according to the operation of the platform, please pay attention to the update in time.

You may also like...