This rule was updated on Jun 21, 2023.

 

The rules will be revised and improved periodically from the date of issuance, and the new rules will take effect from the date of issuance. If you continue to use the P2P Trading platform’s services, you are deemed to have fully understood and agreed to the rules.

 

 

If you submit an appeal, a dedicated P2P Risk and Appeals specialist will assist you in a fair and timely manner. Typically, when we receive an appeal, the associated order will be temporarily put on hold, with the assets securely held in escrow by the platform. The result of the appeal will be based on the evidence provided by both involved parties.

 

Malicious appeals will disrupt normal operations on the platform and may result in account suspension. 

 

 

The following are the details of the appeal handling rules:

 

 

 

The buyer submits a complaint

1. The seller does not release coins after payment

• If the seller intentionally refuses to release coins and requests that the transaction is not executed according to the advertised price, the P2P specialist team will contact the buyer to provide relevant certificates. After verifying the situation, the P2P specialist team will force the release of coins to the buyer, and disable the P2P function for the seller's account for 10 days.
• If the buyer remarks sensitive words (such as digital currency, P2P, Bybit, etc.) when transferring fiat, and the seller does not release coins, the P2P specialist team will contact the seller to refund or release coins, and the handling fee for refund is borne by the buyer.
• If the seller does not release the coins in time: after the buyer has successfully completed the payment by using the real-time payment method, the P2P specialist team will contact the seller to release coins. If the seller doesn't respond within a given timeframe, the P2P specialist team will forcibly release the coins.
• For the buyers using a non-instant payment method (such as cheque/international transfer) to make the payment and the seller cannot receive the payment in time, the P2P specialist team will contact the seller to request the release of the coins within two (2) working days. If the payment isn't received within the prescribed time limit, the seller will need to contact the P2P specialist team promptly. If the seller does not contact the P2P specialist team, it will be considered as the payment was received. The P2P specialist team will forcibly release the coins.

2. Overpayment

• If the buyer overpays, the P2P specialist team will contact the seller for a full refund or partial refund of the overpayment.
• If the seller fails to process or refuses to refund within the time limit, the platform will disable the P2P transaction function of the seller's account for 10 days.

3. Order canceled after payment

• If the confirm payment button is not clicked due to overtime after payment, or the order is canceled by mistake, the P2P specialist team will contact the seller for a refund.
• If the seller fails to process or refuses to refund within the time limit, the P2P specialist team will disable the P2P transaction function of the seller's account for 10 days.

4. Requirements other than notes

• If the seller puts forward requirements other than notes (such as adding other social media accounts before the transaction, additional Identity Verification, etc.), the buyer can refuse to continue the transaction. The P2P specialist team will cancel the order.

5. No payment method

• If the seller does not provide a payment method, the P2P specialist team will cancel the order after verification.

6. Verbal attacks

• Transaction parties who use offensive language during the transaction process will be penalized by having the P2P transaction function disabled on their accounts for 10 days.

7. Fraud

• If there is fraudulent behavior during the transaction, the P2P specialist team will permanently disable the fraudulent party's P2P transaction function after verification, delete all advertisements (such as those posted by the fraudulent account), and lock the fraudulent party's assets (if any).

8. P2P HotSwap

• If a dispute arises during a P2P HotSwap transaction, Bybit will make every effort to help users recover their assets. Please note that the asset recovery may involve returning the original payment coin type or providing the equivalent in stablecoin. Furthermore, Bybit is not liable for any conversion rate risks associated with this process.

 

 

 

The seller submits a complaint

1. Payment not received

• If the buyer used the non-instant payment method to make the payment, the P2P specialist team will contact the buyer to provide the payment voucher and reserve a 2-day time limit for payment. If the payment isn't received within the prescribed time limit, the seller will need to contact the P2P specialist team promptly. If the seller does not contact the P2P specialist team, it will be considered as the payment was received. The P2P specialist team will forcibly release the coins.
• If the buyer does not respond or provide proof of payment within the specified time limit, it will be deemed as non-payment and the P2P specialist team will award money to the seller.

2. The counterparty paid less

• Insufficient payment is the responsibility of the buyer, and the handling fee for supplementary or refund shall be borne by the buyer.
• If the buyer agrees to make the payment, the P2P specialist team will release coins to the buyer after the payment is completed; if the buyer does not agree to the payment, the seller will do a refund. After the refund is completed, the P2P specialist team will release the coins to the seller.

3. Malicious duplicate cancellation

• Malicious duplicate cancellation refers to the intentional cancellation of an order by the same user for no reason.
• The P2P specialist team will contact the seller to provide the certificate and after verification, the P2P transaction function for the account that has been maliciously canceled twice in a row will be disabled for three (3) days.

4. Non-real-name Payment

• Making a payment without using an account that matches Bybit's Identity Verification information is a breach of our platform's trading rules. Upon receiving a report from the seller, our P2P specialist team will request relevant supporting documents for verification. The consequences for such violations are as follows:
  • First-time Offenses: If a user makes a payment using an account name that doesn't match the Identity Verification information for the first time, their P2P Trading functions will be temporarily suspended for a period of three (3) days. Alternatively, they may be issued a warning.
  • Repeat Offenses: For users who persistently make payments using mismatched account names. Their P2P Trading functions may be suspended for an extended period. In severe cases, these functions might be permanently disabled.
• Both buyers and sellers are required to provide relevant supporting documents and actively cooperate with refund procedures. If a user fails to comply with the refund process within the specified timeframe, or deliberately freezes the account resulting in a failed refund, Bybit will take necessary measures based on the situation. These measures may include but are not limited to, permanent banning of the Bybit account, removal of all advertisements, disqualification of verified advertisers, issuance of warnings, and more.

5. The account is frozen after receiving the payment

• If the seller puts forward requirements other than notes (such as adding other social media accounts before the transaction, additional Identity Verification, etc.), the buyer can refuse to continue the transaction. The P2P specialist team will cancel the order.
• If the seller's account is frozen after the payment is received, the buyer will be banned from the P2P function or restricted from withdrawing for 24 hours due to serious suspicion. If the seller proves that the freeze was directly caused by the buyer within 24 hours, the buyer shall actively assist and cooperate with the thawing. Otherwise, the buyer may face the disposal of permanently disabling the P2P function and restricting the withdrawal of coins.

6. Verbal attacks

• Transaction parties who use offensive language during the transaction process will be penalized by having the P2P transaction functions on their accounts disabled for 10 days.

7. Fraud

• If there is fraudulent behavior during the transaction, the P2P specialist team will permanently disable the fraudulent party's P2P transaction function after verification, delete all advertisements (such as those posted by the fraudulent account), and lock the fraudulent party's assets (if any).

8. P2P HotSwap

• If a dispute arises during a P2P HotSwap transaction, Bybit will make every effort to help users recover their assets. Please note that Bybit is not liable for any conversion rate risks associated with this process.

 

 

 

 

Disclaimers

1. Bybit will not be responsible for any losses in assets resulting from a user's failure to follow instructions on Bybit within the specified timeframe.

2. Bybit will not be responsible for any losses in assets resulting from any trades made privately outside of Bybit’s P2P Trading platform. All P2P transactions should be conducted through Bybit’s P2P Trading platform, and neither Bybit nor merchants will conduct transactions with users privately.