Fiat Trading
1. During the trading:
a. Users must use their own bank account / card to make or receive payments. Please make sure that you pay the exact amount required by the seller.
b. Users should not use any sensitive words such as “Bitcoin”, “Cryptocurrency”.
c. You would be banned from Fiat Trading for 24 hours if you have more than 5 cancelled orders.
2. During the Fiat Trading process, users shall bear their own loss if any of the following scenarios occurs:
a. Any losses if the order is cancelled due to the buyer didn’t click the "Payment Completed" botton on time.
b. Any losses when the seller releases the fiat without checking if the payment is received.
c. Losses caused by user's operational mistakes such as transferring funds multiple times, making duplicate payments, or remitting funds to the wrong recipient.
d. Any losses due to the seller put the wrong price up when selling.
e. Text message delays due to the phone provider, and consequently losses because of this.
3. The order can be cancelled if the buyer doesn’t make the payment on time. Please do not make payment when the order is cancelled; please do not cancel if you have made the payment. Please double-check the trading procedure to avoid unnecessary loss due to operational errors.
4. Please make sure that you are attentive to your communications such as text messages or email. Just in case you would need to contact the Customer Service Team for disputes.
5. The platform verifies users'IDs when they register. Users shall make sure that all related accounts are registered and used by the person himself/herself.
Gate will not take any responsibility if the user violates Terms of Use, Policies, government laws, or involves in illegal activities. Gate will not be responsible for user’s behaviour and will assist police with investigations when necessary.
Dispute procedure
- If the payment failed due to special reasons (i.e. the seller account cannot receive payment/ seller account being frozen) after the buyer clicked the “Payment Completed” link, Gate will assist the buyer to cancel the order as long as you contact the Customer Service Team in a timely manner.
- The platform will assist you if the order is cancelled due to overtime (didn’t click “Payment Completed” in time) or manually cancelled as a mistake after the payment is actually made, please contact the Customer Service Team immediately and submit Proof of Payment as evidence.
- The platform will assist you if the seller hasn’t confirmed releasing of fiats after one hour of the payment is being completed, the buyer can contact the platform and submit related evidence.
- The platform will assist you if the buyer released fiat by accident without actually receiving the payment. Please contact the Customer Service Team immediately.
Refer to How to File A Complaint in P2P Trading in the Help Center.
Why I received a different amount of funds from the amount that I purchased?
- The total asset on the platform is for reference only and is not based on the actual price when purchasing.
- Fiat Trading prices fluctuate based on the market. Actual payment = amount of crypto * price of purchasing. Therefore, although the total asset value is different from the actual value, the quantity of the crypto is the same, not less.
- If you exchanged other cryptos or digital assets after the fiat trading, the total asset value would fluctuate based on the market.
Notes
- Participation in fiat currency trading shall be deemed as your acceptance of and compliance with all the terms set forth in the Terms of Use and Policies.
- It is prohibited to use an ATM machine, third party payment method, or any other unauthenticated payment method.
- It is prohibited to use delayed payment functions on payment tools. If found, the user will be disqualified from participating in fiat trading.
- The Customer Service Team is online 24/7 for any assistance.
