Terms & Conditions, Refund Policy, Pricing & Promotion Policy.
Last Update: January 2021.
The following terms of service govern your access to and use of the coinswapz site, including any content, functionality and services offered on or through coinswapz.com
This site is offered and available to users who are 18 years of age or older. If you are under 18 you may not use this site or our services. By using this site, you represent and warrant that you are of legal age to form a binding contract and meet all of the foregoing eligibility requirements. If you do not meet all these requirements, you must not access or use this site.
Our customer support team is available 24/7 if you have any questions regarding the site or terms of service. Contacting our customer support team can be made possible by submitting a request here.
These are terms related to the use of the coinswapz.com site.
1. Sellers: These are people who are here to sell their cryptocurrency or trade it for another crypto.
2. Buyers: People who are here to buy cryptocurrency from the available sellers.
3. T.O.T stands for terms of trade. It's content is usually the details of the payment method, amount and cryptocurrency which the buyer is comfortable with trading.
4. Orders: An ongoing, cancelled or completed trade between a buyer and a seller, after the seller accepts the buyer's TOT.
5. Min. price: The minimum amount of cryptocurrency a seller is willing to sell in USD. Coinswapz has a limit of $5.
6. Max. price: The maximum amount of cryptocurrency a seller has to trade in USD.
7. Coinswapz safepay: Escrow account which stands between buyer and seller to ensure safe transactions. Sellers must add funds to coinswapz safepay first before requesting or receiving money from the buyer. Funds in Coinswapz safepay are released to the buyer once his payment is received and confirmed by the seller.
8. Payment methods: The means through which a seller wants to be paid for his crypto or how a buyer is willing to pay.
9. Proposal: Details entered by a seller about what and how he is willing to trade.
10. Request: An appeal by a buyer looking for a seller who is willing to trade with him according to his terms. Usually used by buyers in urgent or desperate situations.
11. Order page: When a buyer's TOT is accepted and the seller pays, they can now by redirected to the order management page where they can talk and update the order, by clicking "view order".
12. Order number: A unique number that is given to each order. May be required in case a report is made and a dispute needs to be resolved.
Only registered users may buy and sell on Coinswapz. Registration is free and allowed for users of age 18 or older. In registering for an account, you are expected to provide us with accurate, complete and updated information and must not create an account for fraudulent or misleading purposes. You are solely responsible for any activity and for maintaining the confidentiality and security of your password. We are not liable for any acts or omissions by you in connection with your account.
Proposals may be bought/sold at a base starting price of $5. However, some proposals are offered at a base price of more than $5 as determined by the seller.
Sellers make a payment in order to initiate an order by adding the amount of cryptocurrency for the trade to Coinswapz safepay. Sellers must not demand or receive payments from buyers without without adding funds to safepay first.
Buyers must fulfil their obligation to the seller by making payment of the required amount using the payment method that was agreed on, and then send a proof of payment (like a screenshot, receipt, etc.) as an order delivery.
Users may not offer or accept payments in ways that are not according to our site's procedure. This will get your account permanently banned. Also, if you insist on doing so, we offer no customer support for any trade or transactions that are not done based on our terms of service. You alone will be responsible for your actions.
Both buyers and sellers gain a green and blue verification badge respectively, after submitting some valid form of identification. Users are not compelled to get verified but advised to trade with verified users. This is because gaining a verification badge implies that the coinswapz.com site now has access to the user's IP address, selfie, and national ID or passport. This info will be very useful in case of any fraudulent activity the user carries out on this site.
Proposals created on Coinswapz are user-generated content. Sellers are allowed to have many active proposals as long as it keeps to the terms of service of the site.
Proposals and/or sellers may be removed from the site if reported and proven to be in violation of the Terms of Service and our other community standards which may include (but not limited to) the following violations and/or materials:
Any proposal that is removed for violations mentioned above would not be restored, and may result in suspension of the seller's account.
Sellers should ensure to upload true photos of themselves as it is displayed alongside every proposal, and on their profile which is visible to all other Coinswapz users.
All proposal price ranges should be true and possible for the seller in order to attract the right buyers. The seller must also choose the category or coin which his proposal is ready to offer. All 10 categories or coins available for trade on Coinswapz are Bitcoin, Ethereum, Ripple, Tether, Bitcoin Cash, Bitcoin SV, Litecoin, Dash, Binance coin, and Monero.
Once the seller accepts the buyer's TOT and the payment is confirmed, and order for that buyer and seller would be created with a unique order number. Should anything go wrong with your order or trade, you may have to provide us with this order number.
Each order on Coinswapz has a time limit of two (2) hours after which the order would be automatically cancelled, and the funds refunded to the seller. Buyers should endeavor to make payment to the seller within this time. Payment from buyer to seller is done out of our platform but only when the seller has kept his crypto with coinswapz safepay and the order has been initiated.
After making payment, the buyer MUST send a proof of payment to the seller, even if the seller has already confirmed the payment. This would help us to settle any disputes that may arise.
Both traders have the right to demand an order cancellation if they no longer wish to continue with the trade. However, if a cancellation request is initiated by a buyer, the order is only cancelled if the request is approved by the seller, and vice versa.
However, in special cases where many reports have been made about one of the traders being involved in fraudulent activities on the site, the order will be cancelled by the admins. If the other party is not behaving properly or in accordance to their terms of trade, the issue can be reported to customer support. This would give us the privilege to go through your conversation to find out if the complain is valid. If it is then the order will be cancelled by the admins.
We encourage our buyers and sellers to try as much as possible to settle any conflicts between themselves. If for any reason this fails by using the resolution center, users can contact Coinswapz's customer support department for assistance.
On the order management page, the buyer can also request for more time from the seller if for some reason he can not make the payment within 2 hours. Only the seller can approve this request. Approving this time extension request would add 12 more hours to the order time.
If the payment made by the buyer is according to the terns of trade and okay with the seller, the seller can then mark the order as complete. This would cause the funds to be automatically added to the buyer's coinswapz balance.
Upon completing an order, the buyer is expected to rate the seller and give an honest review of the experience he had with that seller, and vice versa. This helps us keep track of user's behavior, and it also helps other users to decide if they want to trade with that trader or not.
Coinswapz reserves the right to put any account on hold or permanently disable accounts due to breech of these terms of service or due to any illegal or inappropriate use of the site or services.
Violation of Coinswapz's Terms of Service may get your account disabled permanently.
Users with disabled accounts can no longer buy or sell on Coinswapz.
Disputes between users should be handles using Coinswapz's dispute resolution tools like the resolution center on the order page or by contacting Coinswapz customer support.
Coinswapz may makes changes to its terms of service from time to time. When these changes are made, Coinswapz will make a new copy of the terms of service available on this page.
You understand and agree that if you use coinswapz.com after the date on which terms of service have changed, Coinswapz will treat your use as acceptance of the updated terms of service.
The Information We Collect
We collect information while you access, browse, view or otherwise use the site. You directly provide us with most of the information we collect. We use the personal information we collect to provide you with quality service and security, so we can operate the site and perform our obligations to you; to ensure integrity and security, to prevent fraud, to contact you, offer support, and promote the site. We will keep personal information for as long as you access or use the site, or for as long as it is required to fulfil the purpose for which it was collected. Some of the information you provide us with will be stored or processed on our behalf by third party suppliers and data processors, and may be located in other jurisdictions.
We take great care in maintaining the security of the site and your information, and in preventing unauthorized access, loss, misuse, alteration, destruction or damage to it. We believe that if you are old enough to appreciate Bitcoin (and other cryptocurrencies), you should be old enough to buy it. However, the Coinswapz crypto exchange mandates a minimum age of 18. No one under the age of 18 should provide personal information to or on the site. We do not knowingly collect personal information from individuals under 18. If we learn that we have collected or received personal information from individuals under 18, we will delete that information.
The site demands sellers to provide some form of verification; either ID or passport, which will help us know our clients better. This information is only stored temporarily until a seller's information is confirmed, and verified. However, we do not make it obligatory for every user or every seller to provide KYC data. This is just an extra step that helps the seller gain favor and trust from their buyers.
Steps are taken to ensure that almost all personal information collected by the site is available for the user to update via settings. This is applicable for information like wallet addresses, profile photo, passwords, and so on. However, if you delete your account or get it banned by the admins, then it is important to know that this action can not be reversed.
You are free to exercise your rights in connection with your personal information. You can write to us at firstname.lastname@example.org. You can also ask for further assistance by submitting a support request, and our team will help. Before submitting a support request, please include all the relevant details, so that your request can be handled correctly.