Please read This Agreement carefully when you log in to this website. As you proceed to the next step, you are deemed to have thoroughly understood and agreed to the terms and conditions contained in This Agreement. If you do not agree to the Terms in effect when you access or use the Website, you must stop using the Website.
58Coin reserves the right to change or modify the terms and conditions contained in these Terms, including but not limited to any policy or guideline of the Site, at any time and at its sole discretion. Any changes or modifications will be effective immediately upon posting the revisions to the Site or at the instant that 58Coin transmits the information. We encourage you to frequently review the update announcement on the Site.
OTC trading market is an online digital currency trading platform. Traders buy or sell digital assets on it.
2.1. Users shall not buy or sell information that has no relation with digital assets on OTC trading platform. Any advertising information published and purchased/sold on OTC shall comply with the relevant laws and regulations of the sovereign country or region and the requirements of This Agreement.
2.2. By creating or accepting any buy/sell order on OTC trading platform, you agree and accept the price or amount displayed by the buyer/seller. Once the order is created or accepted, the transaction price will be locked and neither the buyer nor the seller can change the trade-related information in the transaction.
During the transaction between the buyer and the seller, all the digital assets associated with the order will be escrowed by the Website until the seller confirms receipt of the full payment on the OTC trading platform.
2.3. A payment is the trade of value from the buyer to the seller for digital asset transactions, through the means including but not limited to online banking transfer, Alipay, WeChat transfer, etc., without going through this Website. 58Coin will not be responsible for any transaction dispute arising from the payment means other than the payment method provided on this Website.
User of the service shall bear any losses resulting from the User's transaction instruction errors (including but not limited to price, amount and other factors).
2.4. When trading on the platform, please be sure to carefully confirm the price, amount, type, payment requirements and other important contents of the digital assets being sold or purchased, and verify the account information, payment and collection information, etc., before the transaction is executed. The user shall bear all the legal consequences if he/she fills out the payment/collection account that is owned by him/her. And your relationship with the owner of this payment/collection account is not related to this Website.
2.5. If any of your actions on the OTC trading platform disrupts the normal trading order of the platform, or enhances creditworthiness in any improper manner, based on the consideration of maintaining the trading order and transaction security of the OTC trading platform, this Website is entitled to take measures such as closing relevant transaction orders, restricting the use of the accounts, etc.
The User shall not by any means maliciously register 58Coin account, including but not limited to profit-making, speculation, cash, award and etc., for the purpose of multiple account registration. The User may not use other Users’ accounts. If the User violates the above rules, 58Coin has the right to take all necessary measures directly, including but not limited to deleting the content posted by the User, canceling the customer’s star, honor and virtual wealth, suspending or seizing the User’s account, illegal gains, and even through legal means to prosecute the User’s responsibility. User of the service shall bear any direct or indirect loss of assets and profits resulted therefrom.
2.6. You should ensure that the information you post is legally compliant, true and effective, and that you fulfill your trading commitments in the course of the transaction. In order to protect fair, just and open transactions, this Website will take 24-hour restrictions on the account once it discovers two intentional violations of This Agreement.
2.7. You shall pay taxes in accordance with the laws and regulations of your country or region.
3.1. Fee Description:
Currently, there is no transaction fee! But you need to pay the miner fee yourself.
This Website has the right to adjust the transaction fee rate according to the market conditions and shall have the right to decide the termination of the free promotion period.
DECLARATION AND DISCLAIMER
4.1. When there is a dispute between the buyer and the seller, please contact this Website in time to resolve the dispute. 58COIN reserves the right to release the disputed digital assets to the either party based on the terms of transaction, evidence of payment and User Agreement. If there is any form of fraudulent act on either side of the buyer or seller, by permitting various verification measures on this Website, 58COIN reserves the right to restrict or freeze your account or account assets and take other reasonable investigative measures to prevent the expansion of adverse consequences caused to this website and third parties due to your illegal acts or violations.
4.2. 58COIN spares no efforts to ensure your legal rights and good experience on OTC trading platform through establishing relevant inspection and monitoring systems by law. You should exercise prudence in trading in view of the fact that the OTC trading platform is characterized by a large amount of information and this information is subject to real-time changes, this Website cannot examine various types of advertising information and the transaction information thus obtained. While 58Coin has made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaw in third-party services, act of government, etc., that may result in service interruption, data loss and other losses and risks.
4.3. Once the seller and the buyer are found to have any intentional violation of This Agreement, 58COIN will have the right to pay the margin of the breaching party to the observant party.
4.4. Based on the special nature of digital asset trading, special attention should be paid to anti-money laundering. 58COIN verifies the buyer and the seller according to the requirements of the KYC principle. Otherwise, you may face the risk of asset freezing due to the suspected crime of the counterparty.
4.5. User shall bear any losses caused to this Website resulting from the User's misconducts (including but not limited to economic losses of both parties, reputation damage and compensation for external payments, attorney fees, legal fees, etc.)
These Terms set forth the complete understanding of the parties with respect to the subject matter hereof. No term or condition of any other document provided to 58Coin which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon 58Coin. You represent and warrant that all information disclosed to 58Coin in connection with This Agreement are true, accurate and complete.