OTC Trading Rules

OTC Transaction Rules
General Rules: 1. This Rule shall come into force as of the date of promulgation and will be amended or improved from time to time. Any changes or improvements will be effective immediately upon the release. 2. If you disagree on this Rule and the changes or improvements on it, you must stop using the platform service. 3. If you continue to use the Platform Services, you are deemed to fully understand and accept this Rule and the contents of the revised or improved rules from time to time and will be voluntarily bound by it.
Notice to BUYER: After creating an order, the Buyer should: 1. Please complete payment timely and click “I’ve paid”; 2. Use the real-name payment method, and complete the payment in real-time according to the order amount and the specified collection account. 3. If to pay the order in non-real time method, the Buyer must obtain the seller’s consent in advance; 4. Please DO NOT mention words like Digital Currency/BTC/Bitcoin/58COIN during the payment.
Notice to SELLER: After the order is generated, the Seller should: 1. Provide a collection account certified by the platform; 2. After receiving the buyer's full payment, complete the release of coins within the time specified in the order; 3. Without the buyer's consent, the buyer or customer service shall not be required to cancel the order; 4. Not raise objections to the price of the created order without the consent of the buyer.
Note: Currently, the non-real-time arrival methods include: Alipay to the bank card, WeChat to the bank card, a single transfer of over 50,000 in an order at 17:00-19:00 (UTC +8), etc., the specific types of which will subject to the changes of business of each payment channel.
Abnormal Situations (Buyer)	Measures
1. The Buyer cancels the order after it has been created.	Should there be 5 canceled orders, the Buyer will be restricted from buying digital assets in a single day.
2. The order is canceled due to the payment timeout.	Should there be 5 automatically canceled orders, the Buyer will be restricted from buying digital assets in a single day.
3. The Buyer has not made the payment and clicks “I’ve paid”.	The Seller is entitled to cancel the order. Should there be 5 complaints towards malicious confirmation of payment, we will limit some functions of the Buyer’s account in the day. If the Buyer cannot be contacted 3 times, we will limit some functions of the Buyer’s account for at least 3 working days, and the specific restriction period depends on the size of the order.
4. The payment is not made in accordance with the collection account stated in the Seller’s trade terms.	The Seller is entitled to cancel the order and the digital assets will be returned to the Seller. The Buyer will bear all the possible risks incurred by incorrect money transfers (the platform can participate in the negotiation).
5. The payment is not made in accordance with the real-name account provided by the Seller in the order chat window.	The Seller is entitled to cancel the order and the digital assets will be returned to the Seller. The Buyer will bear all the possible risks incurred by incorrect money transfers (the platform can participate in the negotiation).
6. The Buyer clicks "I’ve paid" before making the payment.	The Seller is entitled to continue the transaction, or cancel the order after the refund: 1) If to continue the transaction, the Seller should release coins within 10 minutes after receiving the complete payment. 2) If to cancel the order, the Seller should complete the refund within 2 hours after the appeal, and the digital assets will be returned to the Seller.
7. The name of the payment account is inconsistent with the real-name of the Buyer.	The Seller is entitled to directly refuse the transaction and should complete the refund within 24 hours after receiving the payment, and then the digital assets will be returned to the Seller. Should there be 5 complaints due to inconsistent payment information, we will limit some functions of the Buyer’s account for at least 3 working days.
8. The payment is made within the specified time and the order is canceled. 1) The Buyer completed the full payment, but the order is canceled by the Buyer or due to payment timeout. 2) The Buyer completed the partial payment, but the order is canceled by the Buyer or due to payment timeout.	If the order is canceled by the Buyer and due to payment timeout, the Seller will be entitled to continue the transaction, or cancel the order after the refund. 1) If to continue the transaction, the Buyer will need to make another order of the same size and click “I’ve paid” without actual payment, and the Seller should complete the release within 10 minutes. 2) If to cancel the order, the Seller should complete the refund within 2 hours after the appeal, and the digital assets will be returned to the Seller.
9. The Buyer makes separate payments and clicks “I’ve paid” before completing the full payment.	1) If the Buyer completes all payments in the specified time, the Seller should continue to complete the order; 2) If the Buyer fails to complete all payments in the specified time, the Seller is entitled to continue the transaction, or cancel the order after the refund. a. If to continue the transaction, the Seller should complete the release within 10 minutes after receiving all the payment; b. If to cancel the order, the Seller should complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the Seller.
10. The payment amount does not match the order amount.	1) If the payment amount is greater than the order amount, the order should be executed, and the Seller should refund the excess amount within 30 minutes after receiving the payment. 2) If the payment amount is less than the order amount, the Seller is entitled to continue the transaction, or cancel the order after the refund. a. If to continue the transaction, the Seller will have the right to complete the transaction according to the actual order amount. b. If to cancel the order, the Seller will need to complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the Seller.
11. The Seller does not receive the payment one hour after the Buyer clicks “I’ve paid”.	1) Unless the Buyer’s payment method was approved by the Seller in advance, or the Seller is entitled to continue the transaction or cancel the order after the refund. a. If to continue the transaction, the Seller will need to complete the release within 10 minutes after receiving the payment. b. If to cancel the order, the Seller will need to complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the Seller. 2) The Seller is the publisher of the advertisement. Within 2 hours after the appeal, if the Buyer has been notified via SMS and still cannot be connected and the Seller has not received the payment, our support team will cancel the order first.
12. After receiving the payment, the Seller cannot verify the real-name information.	1) After verification, if the payment account matches the buyer's real-name account, and the buyer completes the payment in the specified time, the order will be executed normally. 2) After verifying that the buyer's payment account is inconsistent with the platform's real-name account, the handling method should be following clause 7 above.
13. The Buyer makes the non-real time payment method that has not been approved by the Seller.	The Seller is entitled to continue the transaction, or cancel the order after the refund. 1) If to continue the transaction, the Seller will need to complete the release in 10 minutes after receiving the payment; 2) If to cancel the order, the Seller will complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the Seller.
14. The Buyer makes the payment from 17:00-09:00 or the one-time bank card remittance of over 50,000 Yuan, resulting in the Seller’s failure to receive the transfer within 1 hour.	The Seller is entitled to continue the transaction, or cancel the order after the refund. 1) If to continue the transaction, the Seller will need to complete the release in 10 minutes after receiving the payment; 2) If to cancel the order, the Seller will complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the Seller.
15. Seller’s collection account becomes abnormal due to the Buyer’s payment.	1) If the Buyer cannot prove the normal state of the account, the Seller should complete the refund within 24 hours after the collection account becomes normal, and then we will cancel the order. 2) If the Buyer can prove the normal state of the account and after being verified to be free of abnormalities, the order will be executed and the digital assets should be delivered to the Buyer.
16. The Buyer mentions words like Digital Currency/BTC/Bitcoin/58COIN during the payment.	The Seller is entitled to continue the transaction, or cancel the order after the refund. 1) If to continue the transaction, the Seller should complete the release within 10 minutes after receiving the payment. 2) If to cancel the order, the digital assets will be returned to the Seller, who, after receiving the payment,  should complete the refund within 60 minutes; if the Seller’s collection account is therefore frozen, the treatment method should be following clause 15 above.
Note: This rule involves the seller's refund or release, and if the seller fails to complete such operation on time, the system will limit some functions of the seller's account.
Abnormal Situations (Seller)	Measures
1. After the order is created, the Seller has objections to the order price.	Unless the Buyer agrees to negotiate the price, the order will be executed normally according to the original order price, and the Seller shall release the coins within the specified time.
2. There are abnormalities in the collection account provided by the Seller.	The Buyer is entitled to continue the transaction or cancel the order. 1) If to continue the transaction, and the Buyer has completed the full payment in the specified time, the Seller should complete the release after receiving the payment. 2) If to cancel the order, the Seller will get the digital assets after completing the refund.
3. The Seller fails to provide an effective payment method in time, resulting in the buyer's failure to complete the payment and the cancellation of the order.	Should there be 5 complaints due to the Seller’s failure, we will limit some functions of the Seller’s account.
4. The Seller (not the advertiser) does not provide the collection information corresponds with the real-name of the Seller, or provides the Buyer with a collection method that is inconsistent with the real-name of the Seller, e.g., When the Seller receives the payment via Alipay or WeChat, the account and the name of the QR code do not match the real-name of the Seller displayed on the order details page.	1) The Buyer shall have the right to cancel the order and appeal to the platform. 2) Should 3 complaints be arising from the Seller’s inconsistent information, we will limit some functions of the Seller’s account. 3) If to continue the transaction, the Buyer shall bear all the risks that may arise thereof.
5. The payment account information was inconsistent with the real-name of the Buyer, and the Seller does not reject to make a deal with the Buyer.	1) The Seller shall bear all the risks that may arise thereof. 2) Should there be any complaints towards inconsistent payment information, we will restrict some functions of the Seller’s account.
6. The Seller does not complete the release within 10 minutes after receiving the full payment from the Buyer.	The Buyer is entitled to continue the transaction, or require a refund after canceling the order. 1) If to continue the transaction, we will judge that the assets belong to the Buyer. 2) If to cancel the order and require the refund, the Seller should complete the refund within 30 minutes after receiving the requirement.