Bybit Verified Advertiser Regulations

 

 

These Bybit Verified Advertiser Regulations (hereinafter referred to as “Regulations”) are entered by and between the P2P Platform of Bybit (hereinafter referred to as “Platform”, “we”, “us”, or “our”) and the Verified Advertiser on the Platform (hereinafter referred to as "you" or “your”).

 

Once you use our Platform, or start to apply for or use our services, it means that you have fully and carefully read, understood and agreed to be legally bound by the terms and conditions of these Regulations and other rules and announcements made available on the related service pages, including any changes, updates, and amendments we make at any time. Any amendments, updates, changes and any new rules and regulations issued from time to time (collectively referred to as “Terms”). If you do not agree to these Terms, please stop using the verified advertiser services of the Platform immediately, and apply to the Platform for disqualifying you from being a verified advertiser of the Platform.

 

You know and agree that you are an independent trader on the Platform. Although you have been marked as a verified advertiser of the Platform and have your asset security locked up by the Platform for securing the purpose of the transactions, you are prohibited from using our brand name or credit-worthiness as an endorsement for any activities you engage in, or to mislead any third party into believing that there is any guarantee or brand endorsement or credit endorsement relationship between the Platform and you. You shall be solely liable for all and any activities you engage in, and all are nothing to do with the Platform.

 

In order to provide our users with a safe, fair and stable trading environment and maintain the normal operation order of the Platform, verified advertisers must abide by the following principles while enjoying the various rights and interests as verified advertisers of the Platform:

 

Verified advertisers should ensure that:

1) the funds used for trading on the Platform are legal and safe;

2) the collection and payment of funds are done by following standardized processes and requirements in accordance with the principle of good faith and fair dealing;

3) you always make payments, release digital assets, and reply to users in a timely manner; and 4) you do not cancel orders arbitrarily, make malicious complaints, and cause vicious competition.

 

The specific requirements are as follows:

 

1. The funds used to trade on the Platform are legal and safe

— You shall not directly or indirectly participate in any illegal trades, including carrying out any fraud, money laundering and other illegal activities.

— If the illegal digital assets or funds brought by you flow into our Platform, resulting in legal risks and the loss of assets or funds for the Platform and users, the Platform has the right to disqualify you, and freeze, or transfer your asset security, and even freeze your account, ban all of your activities and freeze, seize, confiscate the assets and funds in your account and send your case to the related police or governmental or regulatory investigation agency.

— When other users' bank accounts are frozen due to funds received from you, you shall actively cooperate with the counterparty for unfreezing his or her bank account, including providing reasonable and necessary evidence.

— When your own account is frozen, you should contact the online customer support team in time and provide the frozen account information, as well as other reasonably necessary evidence and documents.

 

 

2. Receipt and Payment of Funds

— When making a payment, you shall use an account that is consistent with your real name authentication with the Platform to make such payment. If the counterparty uses a non-authenticated account to collect the payment, you have the right to cancel the order.

— When receiving a payment, you shall use an account that is consistent with your real name authentication with the Platform to collect such payment. At the same time, it is necessary to confirm that the name of the payer is consistent with his or her real name verified by the Platform. If the counterparty uses a non-authenticated account for making the payment, you have the right to cancel the order. If you have already received the payment from the user, you can return it in the same way and ask the counterparty to cancel the order.

 

 

3. Good Faith and Fair Dealing

— Do not conduct any malicious competitive activities, such as maliciously taking orders, slandering other verified advertisers etc.

— Do not make malicious appeals, maliciously cancel orders and conduct other activities that may disrupt the normal order of the Platform.

 

 

4. Provide High-quality Liquidity for the Platform

— Good service attitude, and compliance with the Platform policies and requirements;

— Actively trade, effectively create and fulfill orders

 

If you breach any of these Terms, you will be disqualified as a verified advertiser, and in serious cases, your assets or funds in the account may be frozen, seized, or confiscated, and your account may be terminated. The aforementioned breaches include but are not limited to:

 

 

You acknowledge and agree that the use and handling of asset security are as follows:

1. After being a verified advertiser, the Platform will freeze the corresponding amount of cryptos from your account with the Platform as asset security.

2. After applying for removal of the identity as a verified advertiser, if there is no order under appeal or in dispute, or your account is not subject to any risk control limit, and the asset security will be unfrozen within 1 working day.

3. After applying for removal of the identity of as a verified advertiser, if the verified advertiser violates any trading rules, resulting in asset loss or other economic disputes for other users, the Platform has the right to take one or more measures against you, including but not limited to imposing restrictions on your account (including account freezing), using your asset security for compensation, disqualifying you from being a merchant of the Platform, deducting asset security, and transferring your case to judicial authorities etc., and the Platform shall not be liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever caused or sustained by you or related third parties.