P2P Merchant Trading Rules
Phemex offers P2P (peer-to-peer) services, where users can buy crypto with local fiat or sell crypto for local fiat subject to Terms of Use. Please note that different countries may have different purchasing options subject to different situations of different fiat currencies. To learn more about P2P services, check out What Is Peer 2 Peer Trading? or other relevant materials in our website.
Please note that depending on users’ Country of Residence, Phemex has its solo and absolute discretion to decision whether this service is available to specific user or not.
In order to create a fair, secure, and reliable trading environment for our users on the Phemex P2P platform, merchants need to abide by the following principles:
● Be responsible for your advertisements (“ad” or “ads”). Confirm the price and quantity for each kind of token you may offer or acquire before you publish.
● Always make payments, release tokens, and reply to others in a timely and proper manner. Only accept payments in the methods available on Phemex and mentioned in your ad.
● Do not cancel orders arbitrarily and do not appeal maliciously. Contact users directly before filing an appeal.
● Please refrain from including “Phemex”, names of local banks, payment method titles, or any sensitive terms in your nickname.
Trading Principles
1. Payment and Receiving of Funds
Phemex requires that the account holder’s name on the payment method chosen is consistent with your name of the KYC record on Phemex. If your name is not identical to that of your identity verification ID, please contact Phemex Customer Service for help.
2. Asset Security
● Merchants must not participate in any form of transactions involving illegal funds or illegal digital assets.
● When the user appeals that their bank card is frozen after receiving payment from the merchant, the merchant is required to actively cooperate with Phemex staff to provide evidence through Phemex.
● If the merchant’s bank account is frozen because of the counter-party's reason, the merchants shall immediately appeal to Phemex and contact local police at once and ask the police to send a query email to the Phemex legal team directly.
● If the illegal digital assets or funds from the merchant flow into Phemex, resulting in legal risks and the loss of assets for Phemex and users, Phemex has the right to ban the merchant, eliminate all his activities and confiscate the security deposit.
3. Operating Rules
● Phemex DOES NOT encourage any merchants to trade with users outside the platform. If you trade with other users privately, the platform shall bear no responsibility for any resulting losses.
● You should not reveal any personal contact information (social networks, messengers) in the ads, trading conditions, or auto-reply.
● After completing the payment, if no tokens are received after 15 minutes, you should contact the counter-party directly. If there is no response, click [Appeal] and wait patiently for Phemex P2P agents to support.
● You are limited to posting 3 online ads with the same order type and crypto pair
4. Access Ban
You, as the merchant, may specificly be banned if one of the following conditions exist (examples only, not exhaustive):
● You do not cooperate with our customer support team when processing the appeal order or you delay the trading process.
● You charge extra fees or commissions to the counter-party in any form.
● You contact the counter-party to carry out transactions outside the Phemex platform.
● You leak the counter-party's name, contact information, address, and other related information.
● You spread malicious information that affects Phemex.
● You gain an advantage by unfair competition.
● You use more than one merchant account (multi-accounts) to take advantage of trading, or block assets of other merchants.
● You receive a large number of negative feedback from other users.
5. Disclaimer
Your use of the Phemex P2P services and all information and other content (including that of third parties) included in or accessible from the Phemex P2P services is at your own risk. All payments are final upon completion unless otherwise required by law.
This document is an extension and supplement to the Phemex P2P Service Terms of Use and is intend to help users better understand the contents of the Phemex P2P Service Terms of Use. Phemex reserves the right to modify or amend all policies/documents and make final determinations on our platform at any time. The safety, security, and integrity of our platform and user accounts will always remain our top priority. For more information, please contact our customer service team at support@phemex.zendesk.com.
