P2P Market's Terms of Use

Wallet Peer-to-Peer (P2P)

1. Wallet Peer-to-Peer

These Terms of Use (“ToU” “P2P Terms”) form a binding legal agreement between Wallet P2P market (“we”, “us”, or “our”) and you (“you”, “User”). These ToU govern your use of Wallet integrated utility Wallet P2P available at a designated section within Wallet at https://t.me/wallet.

By using Wallet P2P you acknowledge that you have read, understood and accepted all P2P Terms.

2. Overview of Wallet P2P

2.1. Wallet P2P is a platform that allows users to directly trade digital assets supported by the Wallet P2P which may be transferred and stored electronically using distributed ledger technology including, but not limited to, cryptocurrencies (“Digital Assets”) with other users where one party (“Seller”) undertakes to transfer ownership of Digital Assets to the other party (“Buyer”) at a defined price and the Buyer undertakes to accept Digital Assets and pay a known amount of fiat currency (“Fiat consideration”) for Digital Assets. The basis for the transaction is the implicative actions of the Seller and the Buyer. You may trade on Wallet P2P to buy or sell Digital Assets as Buyer or Seller.

2.2. We are not a party to any transaction that you may enter into on Wallet P2P as you will be directly trading with other users.

2.3. Wallet P2P is not a payment processor, bank, payment institution, internet acquiring or money services business.

2.4. The access to Wallet P2P is provided without any express or implied warranties, in particular, without the implied warranties of merchantability and fitness for a particular purpose. There is no guarantee that access to Wallet P2P will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information, including through the fault of third parties.

3. Market rules

3.1. You may use only the Wallet account that belongs to you to participate in Wallet P2P. Only use payment methods registered in your name, which matches your Wallet account. Third-party payments are prohibited on Wallet P2P.

3.2. All communications regarding the use of Wallet P2P must be carried out only in chat related to a certain transaction in compliance with business etiquette. If you fail to comply with this clause certain sanctions may be applied to you.

3.3. It is prohibited to advertise goods and services, as well as mention the names of third-party services in Advertisements and in the transaction chat.

3.4. It is prohibited to provide the other party to the transaction with personal information, contact and personal data, as well as to request such information and data from the other party to the transaction except as it might be required to proceed the transaction.

3.5. It is prohibited to use expressions and words in the transaction chat that may mislead other users to think of you as a representative of the Wallet P2P (Admin, Moderator, Wallet, etc.).

3.6. It is prohibited to use the technical features of the Wallet P2P for fraudulent purposes, for the purpose of unjust enrichment and other types of use that violate the rights of other users and Wallet P2P.

3.7. If a seller selects a payment method that may be linked to multiple accounts, the seller hereby confirms that they have full access to all accounts associated with this payment method and the relevant account details. In the event that the buyer erroneously transfers funds to an incorrect account, the seller agrees to cooperate in facilitating the return of the fiat funds to the buyer.

3.8. You acknowledge that we may at our sole discretion take certain actions, including limiting, suspending, or terminating your access to Wallet P2P or lock Digital Assets for a certain period in your account.

3.9. Our decision to take certain actions, including limiting, suspending, or terminating your access to Wallet P2P or lock Digital Assets may be based on confidential criteria that are essential to our risk management and security protocols, including but not limited to circumstances in which we are unable to provide you with information about the reasons for such limitation, suspension, termination or blockage whilst an investigation is ongoing (by us and/or a third party such as the police). You agree that we are under no obligation to disclose the details of our risk management and security procedures to you.

4. Sale of Digital Assets

4.1. As a Seller, you may publish an offer on Wallet P2P to sell Digital Assets (“Advertisement”) or you may accept an offer of the Buyer published on Wallet P2P (“Offering”).

4.2 In order to place an Advertisement, you must indicate the following details:

i. The kind of Digital Asset you would like to sell;

ii. The amount of Digital Assets that you would like to sell;

iii. The price at which you would like to sell your Digital Assets. You can choose to apply either floating price which is set as a percent in relation to current market price or fixed price;

iv. The payment method via which the Buyer shall send Fiat consideration for the Digital Assets;

v. Other applicable terms and conditions for your Advertisement. You may choose to insert a comment to Advertisement which must be in compliance with this ToU.

a. Once your Advertisement is accepted by the Buyer the terms of the transaction cannot be amended. The Advertisement is considered accepted once the Buyer sends the request with the indication of the amount of Digital Assets the Buyer intends to buy (“Order”) and the Seller confirms the Order.

b. If the Seller does not respond to the Buyer’s Order more than 5 (five) times the Advertisement will be removed. If the Seller does not respond to the Buyer’s Order upon creation of the new Advertisement the access of the Seller to the Wallet P2P will be blocked.

c. Payment details of the Seller will become available to the Buyer only upon confirmation of the Order. It is prohibited to insert payment details in a comment section of the Advertisement.

d. Seller must confirm receipt of Fiat consideration by pressing “Confirmed” in the designated section within Wallet P2P and release Digital Assets to the Buyer. Once Digital Assets are released to the Buyer it is impossible to cancel the transaction. You are solely responsible for verifying the Fiat Consideration transfer made by the Buyer in consideration of the Digital Assets. To simplify verification, the Seller will receive the receipt from the Buyer, confirming the fiat consideration transfer.

4.3. In order to accept Buyer’s Offering:

a. The Seller needs to select the Offering within the designated section on Wallet P2P. The Seller will then be required to indicate the amount of Digital Assets to sell and confirm the sale by clicking on the “sell” button. The payment details will become automatically available to the Buyer. By clicking on the “sell” button Seller confirms that he accepted terms and conditions of the Offering. The Offering will be considered accepted once the Buyer confirms the purchase via the Offering.

b. The Seller shall wait for the receipt of the Fiat consideration to the provided payment details. The Seller is solely responsible for verifying the Fiat Consideration transfer made by the Buyer for the Digital Assets. To simplify verification, the Seller will receive the receipt from the Buyer, confirming the fiat consideration transfer.

c. Seller must confirm receipt of Fiat consideration by pressing “Confirmed” in the designated section within Wallet P2P and release Digital Assets to the Buyer. Once Digital Assets are released to the Buyer it is impossible to cancel the transaction.

4.4. In consideration for the use of Wallet P2P we charge Seller fees in the amount of 0.9% of the amount of Digital Assets of each sale that resulted in transfer of Digital Assets to the Buyer whether it occurred via Seller’s Advertisement or by Seller’s acceptance of Buyer’s Offering. We may adjust the fees at our sole discretion from time to time.

4.5. You understand and agree that once your Advertisement is accepted by the Buyer or the Buyer confirms the purchase of Digital Assets via the Offering, the amount of Digital Assets indicated in the Order will be locked. You understand that the locked amount of Digital Assets cannot be used in any way whatsoever unless the Order is cancelled, Offering revoked, transaction is otherwise cancelled by the Parties or the Digital Assets are released to the Buyer upon confirmation of the Fiat Currency transfer by both the Buyer and the Seller.

5. Acquisition of Digital Assets

5.1. As a Buyer, you may accept Advertisement or you can create an Offering.

5.2. In order to buy Digital Assets via Advertisement

a. The Buyer must indicate the required amount of Digital Assets within the limits indicated in the Advertisement and create an Order which is subject to acceptance by the Seller. By creating the Order you accept all terms and conditions of the Advertisement. The Buyer must get acquainted with the comments section of the Advertisement.

b. Once the Order is accepted by the Seller, the Buyer shall send the amount of Fiat consideration corresponding in value to the amount of Digital Assets indicated in the Order at the rate indicated in the Advertisement (all applicable commissions for the transfer of Fiat consideration are born by the Buyer) via payment method indicated in Advertisement to the payment details that will become available to the Buyer upon confirmation of the Order.

c. The Buyer shall not send Fiat consideration to the payment details indicated in a comment section of the Advertisement which may result in a loss of funds with no possibility to recover.

d. In case the Parties agreed to cancel the transaction, the Buyer may request the Seller to return the amount of Fiat consideration subject to deduction of applicable commissions for the transfer which are borne by the Buyer.

e. The Buyer must send the Fiat consideration in one instalment via the payment method specified in the Advertisement and using the payment details which became available upon confirmation of the Order. To verify the transfer of the Fiat consideration, the Buyer is required to upload a receipt confirming the transaction, which will then be shared with the Seller.

f. The amount of Fiat consideration must match the amount stated in the Order, and may be without decimal places if the Seller has indicated so in the Advertisement.

g. Once Fiat consideration is sent to the Seller the Buyer must mark the transaction as sent within the designated section of the Wallet P2P before the timeout occurs. Otherwise the Digital Assets of the Seller will be unlocked and the transaction will be cancelled which may result in non-receival of Digital Assets by the Buyer and the loss of the amount of Fiat consideration by the Buyer.

h. The Buyer understands that the cancellation of transaction upon transfer of Fiat consideration may result in failure to receive Digital Assets by the Buyer and the loss of the amount of Fiat consideration by the Buyer.

5.3. In order to buy Digital Assets by placing an Offering:

a. The Buyer must create an Offering on Wallet P2P and indicate the following details:

i. The kind of Digital Asset you would like to buy;

ii. The amount of Digital Assets that you would like to buy;

iii. The price at which you would like to buy Digital Assets. You can choose either a floating price which is set as a percent in relation to current market price or fixed price;

iv. The payment method and other applicable terms and conditions for your Offering.

b. Once the Offering is published on Wallet P2P, the Sellers will be able to submit their requests with the indication of the (a) amount of Digital Assets for sale; or (b) fiat currency equivalent of the amount of Digital Assets for sale, subject to terms and conditions of the Offering indicated in clause 5.3(a).

c. Once the Buyer accepts the Seller’s request he shall transfer the amount of Fiat consideration in accordance with clauses 5.2(b) - (h) to the payment details provided upon submission of the request via the Offering.

d. To verify the transfer of the Fiat consideration, the Buyer is required to upload a receipt confirming the transaction, which will then be shared with the Seller.

e. The Buyer will receive Digital Assets once the Seller confirms the receipt of Fiat consideration.

f. We do not currently charge any fees to the Buyers. We may add fees at our sole discretion at any time.

g. If the Buyer does not respond to the Seller’s request more than 3 (three) times the Offering will be deactivated. If the Buyer continues to not respond to the Seller’s requests upon creation of the new Offering the Buyer’s ability to create new Offering on the Wallet P2P may be restricted.

6. Trusted Merchants.

6.1. Users with enough trading activity and a high Order completion rate on P2P may receive a status of a trusted merchant (“Trusted Merchant”) and benefit from certain advantages. You can get further acquainted with criteria and how to get a status of Trusted Merchant via a designated section of the FAQ.

6.2. The Trusted Merchant status is not representative of any obligation, guarantee or undertaking on our part.

7. P2P Express

7.1. P2P Express allows the Buyers to publish offers that are not displayed via the Wallet P2P Offering list (“Offering” in the P2P Express context).

7.2. By using P2P Express the Buyer is allowed to place an Offering that will be automatically matched with existing Advertisement posted on Wallet P2P by Trusted Merchant based on the best available price.

7.3. You understand and agree that by using P2P Express, the Offering will be automatically matched to the Advertisement that offers the best available price for your preferred payment method, you will not have access to all Advertisements published on Wallet P2P and you will not have the possibility to select the Advertisement which will be connected to your Offering. The Buyer is under no obligation to commence a purchase and may cancel the transaction at any time prior to the transfer of Fiat consideration.

8. Dispute resolution

8.1. We are not a party to the Digital Assets trade between the Buyer and the Seller and have neither the right nor the obligation to resolve any disputes between the Buyer and the Seller and are not liable for any loss you may incur in connection with a completed transaction.

8.2. You understand and agree that the appeal mechanism offered via Wallet chat is not a representation, undertaking, or guarantee from us in any way whatsoever to resolve the disputes between the parties and has the sole purpose of offering a mediation channel to the users. We reserve the right to suspend or terminate access to Wallet P2P for users who are uncooperative during the appeal proces, engage in unjust enrichment through the use of Wallet P2P, or behave inappropriately. You may lose access to all or part of Wallet P2P in case an Advertisement that you have posted has multiple ongoing appeals.

8.3. The dispute will generally be resolved within 30 calendar days from the date the user opened the dispute although we do not guarantee any period of dispute resolution. The period of dispute resolution may be extended indefinitely at our discretion without any notice to you.

8.4. We may request additional evidence of the transaction from the parties to the transaction. Evidence may include but not limited to: a video of the complete mobile app login process, a bank statement, a receipt of the completed transaction by the bank and an identity verification procedure. All evidence must be provided as is without editing of the original file.

8.5. You must provide all information requested by the support team. If you fail to comply with this clause you will be restricted from the use of Wallet P2P or have other sanctions applied to you.

8.6. In case the Buyer sends Fiat consideration in the amount of less than what was indicated in the Order the Seller will have an option to release the amount of Digital Assets corresponding in value to the factually received amount of Fiat consideration. In the same time the amount of Digital Assets received by the Buyer will be blocked until the Buyer contacts the support team and provides requested information.

9. Miscellaneous

9.1. You accept the risks associated with P2P transactions, which may include: fluctuations in the price of Digital Assets, reliability of counterparties, and legal risks.

9.2. Payment methods available on Wallet P2P are displayed as options available to users to perform the Fiat Consideration transfer in consideration of the trade of the Digital Assets. Unless expressly provided otherwise, we do not have any form of relationship with the payment methods listed on Wallet P2P. Availability of a payment method on Wallet P2P shall not be construed as a recommendation, vetting or endorsement by us.

9.3. You agree that to the fullest extent permitted by applicable law we will not be liable for your losses, damages, and lost profits resulting from P2P transactions or the use of Wallet P2P, including but not limited to hacker attack, power outage, or technical failure.

9.4. We reserve the right to immediately restrict, suspend, or terminate your account without prior notice at our sole discretion.

9.5. We may from time to time, at our discretion, make changes and improvements to this ToU. By accessing Wallet P2P after these changes have been made, you express and acknowledge your consent to the changes.