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Terms and Conditions of Service
SwapSteem is a peer-to-peer platform which the service is dedicated to facilitate the conversion of STEEM or SBD to different fiat currencies. The platform service aims to cater the strong need for peer-to-peer exchange elevated by the escalating growth of user base on STEEM blockchain adoption, and ease the process by providing with secure escrow transactions in moderation of various influential STEEM escrow agents for their respective country, or currency.
Like any peer-to-peer platform, the users are able to create advertisements to offer a desired price to trade STEEM or SBD to fiat currencies or vice versa. Interested users will reply to the advertisements and the trade could be done face-to-face or online based on the agreement agreed by both parties. A user who sells STEEM or SBD (hereinafter referred to as "seller") will first have to deposit an amount of STEEM or SBD in the SwapSteem online wallet, which is linked to their own account. A user who is interested to buy STEEM or SBD ("buyer") will then have to pay the agreed amount of fiat currencies to the seller. The STEEM or SBD will then be transferred once the payment from the buyer is being verified, completing the whole process of the service. As an escrow service provider, SwapSteem is not participating in any STEEM or SBD trade or transactions conducted by its users. The trades on the sites are essentially conducted by the users of the service themselves.
It is crucial to us that you, and other potential users, are enjoying the service provided by our platform, and that when you use this platform you are fully aware of your respective legal rights. These Terms of Service ("Agreement") are legally binding terms including the provision of services ("service" or "services") provided by SwapSteem ("us" or "our" or "we") to you as an acknowledged user ("you" or "your") and your use of this platform. Please read through this Agreement and Privacy Policy carefully before accepting them.
A personal, non-exclusive, non-transferable, non-sublicensable and limited right to access and use the platform and service will be granted to you if you agree and comply with the Agreement. By registering an account or using the service of this platform, you irrevocably acknowledged and agreed the terms. Please note that the Agreement may be revised and reissued without any prior notices. You should do your due diligence to revisit this page to review the current Agreement. Your continued use of the service will be deemed as acceptance of any revisions.
Depending on your country of residence, you may not be able to use all the functions of the platform. It is your responsibility to follow those rules and laws in your country of residence from which you access this platform and service.
To access this platform, to use our services or some of the resources it has to offer, you may be asked to provide correct registration details in order to register a user account ("User Account" or "account") and to keep such information updated. By opening an account to use the service, you expressly represent and warrant all the details you provide are current, correct and complete. SwapSteem reserve any rights to deny your registration status, limit the access to the platform or the use of its resources if any discrepancies were found in your provided details.
To be eligible to access our platform, you must be at least 16 years old. Only one account could be registered by one individual, and you may only use your own account at SwapSteem. You may only act on your own behalf. You will not use the account of any other users or attempt to obtain unauthorised access of other users' account. You are not allowed to use your account to act as an intermediary or broker for any person or entity. Any unauthorised actions such as account selling, borrowing, sharing or otherwise which allow your account to be potentially used or accessed by other people or entities are not allowed. If you noticed any unauthorized use of your account or password, please notify SwapSteem immediately for us to address possible breach of security. Violating these rules might cause the users to be held liable for losses incurred by SwapSteem or any user of the platform.
You will be also held responsible for maintaining the confidentiality and control over your account credentials, including your usernames, passwords, two-factor authentication codes, safeguarding your own STEEM or SBD, and for all activity including transactions which are posted directly to your account or which you use to access the service. It is prohibited to publish misleading or fraudulent information for your account. Creating and using fake information as well as providing fraudulent identification documents will lead to the termination of the account. Failing to comply with such request will also be considered a violation of this Agreement.
The access of our service is possible by utilising the identity of being a company or other entity. You will be required to submit any relevant information and credentials for the verification purpose as a company. However, please be noted that, a company-verified account is equivalent to any other personal individual account. Therefore, it can only be used by the person who managed the registration of the said account and any forms of sharing of the account is strictly prohibited.
Company-verified accounts is bounded by all the terms in this Agreement, but are allowed the following exemptions only:
- One employee can only register and operate one single account. However, a company may have several active user accounts at any time, as long the accounts are operated by one single employee solely.
- A company is allowed to publish active advertisements from several accounts.
- Overlapping of advertisements are strictly prohibited and would be considered violation of Agreement. Advertisements using same limits with similar price in same payment method category in the same country are not allowed.
At SwapSteem, we strive to provide the safest and yet the most convenient service for our users to comfortably transact their STEEM or SBD into fiat currencies, or vice versa. Account verification is needed before you could access and participate in the service provided by us. Getting verified can give you many perks, such as able to create advertisements on the platform, lift the trade volume limits and to ensure account ownership in cases of trade disputes or fraud investigations. You are required to provide us with your full name, documents and photographs which could allow us to verify your identity.
At any time at all, we may, but are not obligated, require you to submit additional identification documents to us for the authentication purpose. You might be needed to provide us with details or sources of funds regarding payments you have made or received for trades on SwapSteem as well as STEEM or SBD transactions you've deposited or withdrawn from your SwapSteem online wallet.
ID verified accounts can provide clear identification of ownership, which is helpful in any unfortunate events including losing all access to your account or in any cases of disputes. Unverified accounts would be having difficulties to regain access to, simply because it is extremely hard to verify the true ownership.
A registered account is entitled to create STEEM or SBD trade advertisements ("advertisement" or "ad" or "ads") to indicate and broadcast that you are interested in buying or selling STEEM or SBD. STEEM or SBD trades ("trade" or "contract") can be initiated by contacting advertisements which are available on the platform, created by other users or wait for the users to contact the ads created by yourself.
By initiating a STEEM or SBD or sending a trade request, you explicitly agree to be bound by the advertisers' terms of trade ("advertisers’ terms") set forth by the advertiser which are displayed clearly on the advertisement page at SwapSteem. Please be advised that the terms and conditions determined by the advertiser are deemed valid in all cases except when there are clear contradiction or violation of the terms listed in this Agreement or are illegal or if both parties of the trade consent to alter the terms and conditions of the trade.
The price or exchange rate or price equation must explicitly contain any and all fees that the advertiser predefined the buyer initiating the trade to pay. All relevant details, including amount, payment window, payment method and other significant terms of conditions of a specified trade must be clearly shown on the advertisement page. All trade requests which were sent or initiated trade cannot be altered, it is of your responsibility to check and validate all offers made are correct.
If you are a seller, you should verify that all information and details published by yourself regarding a trade are correct. After a trade is being initiated and the said buyer has made their payment, you must wholly confirm that, you have received full amount of the payment, the payment is made by the seller himself/ herself and not by a third party to the trade, and all instructions given by you are followed. It is impossible to cancel, reverse, dispute or otherwise to recover or return STEEM or SBD to you once you have released a trade to the buyer.
The trade should wholly happen on the platform including all communication. It is considered breach of this Agreement if the trade is carried out through other communication channels. You should be fully aware that communication that has not occurred on SwapSteem or that has been hidden, encrypted or otherwise obstructed from view is not being taken into consideration during dispute review and resolution.
We may hide, remove, or limit your advertisements, if you violate these terms or any other agreement you enter into with SwapSteem, or as otherwise specified in these terms or other agreement you have entered into with SwapSteem.
There are two different categories for advertisements, namely local cash advertisements and online advertisements. Please be advised that you must make sure that your ads are placed in the intended correct payment category. Multiple ads for the same payment method per city are not allowed unless the ads are limited to different customer groups and the price is different for at least 3%.
"Buy STEEM or SBD locally" and "Sell STEEM or SBD locally" fall under the category of local cash advertisements, and this includes any other relevant advertisement which specified that cash is the payment method or advertised under local sell or local buy.
"Buy STEEM or SBD online" and "Sell STEEM or SBD online" fall under the category of online advertisements, and this includes any other relevant advertisement which the specified payment method is any other than cash or advertised under online sell or online buy.
There may be additional unforeseen risks which we were unable to identify in our Agreement.
The trading of goods and products, real or virtual, including cryptocurrencies is subjected to significant risk. Price fluctuate on any given day, your assets can increase or lose in value at any given moment as well. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. You should practice extra cautious to assess your financial standing and tolerance for risk in buying, selling or trading STEEM or SBD.
A trade dispute ("disputed trade" or "dispute") can be initiated by a buyer, seller or SwapSteem to sort out the disagreement over a trade. A dispute is a mediation process on the STEEM or SBD held in escrow services and to be reviewed as well as resolved by SwapSteem support staff.
Only trades which are open but marked as paid by the buyer can initiate the process of disputes. Other conditions of trades, including not marked as paid by the buyer, have been released by the seller, cancelled by the buyer, automatically cancelled, or in the process of dispute resolution and resolved are considered completed and are impossible to be disputed, reversed or altered.
It is important for both the buyer and the seller to remain active and available right from the moment the trade is initiated to the moment the trade is completely fulfilled and completed. In cases of a disputed trade, you might be requested by SwapSteem support staff to provide a response within 12 hours or you may be deemed as unresponsive. If the buyer is unresponsive, the dispute will be resolved to the buyer if we are confident that the seller has received valid payment from the buyer, and vice versa.
SwapSteem support staff will come into contact with you, giving you instructions which you are required to follow. Evidences such as proof of payment, proof that you have or have not received payment, additional ID verification, photo; audio or video material, or any other documents other documents which are deemed relevant by SwapSteem. When the evidences. Please be noted that providing fake information or documents intentionally, attempting to make falsified claims or otherwise are considered an unlawful and deemed violation of this Agreement. As the trade should fully be done according to the details listed clearly on the platform, any payment details are provided outside of SwapSteem would not be taken into consideration.
It is possible to request for a review to any dispute resolution. Please contact our SwapSteem customer support no later than 120 days after the said dispute resolution in order for us to review our decision.
Please be noted that all terms published explicitly under this Agreement should be strictly kept in mind while you are using our service on the platform. When the situations arise, we could and would take necessary actions against your account, such as limiting ("limit" or "limitation"), suspending ("suspend", "suspension", "block" or "ban") or terminating ("terminate", "termination" or "permanent ban")the said account. Account limitation results in access to a certain specific part or parts of the service offered by us being revoked, account suspension results in temporary loss of access to most parts of our service, while account termination results in permanent loss of access to all our service.
Termination of the account is not the exclusive procedure for any violations against the Agreement, SwapSteem reserve the right to take any further action.
SwapSteem takes a certain portion of fees based on percentage, for incoming and outgoing transactions, completed trades and invoicing services from the paid invoice amount. By using our service, you agree to pay the fee in accordance with the prices and pricing principles which are available on our platform. The specified fees are automatically deducted from your SwapSteem online wallet balance or deposit at the time when the service is rendered or completed unless otherwise stated explicitly.
For STEEM blockchain, forks are always exciting and they bring new yet innovative updates to the blockchain itself. And the most exciting part for STEEM blockchain is that Smart Media Token ("SMT") is coming and this may result in holders of private keys containing a STEEM balance receiving a corresponding amount of new token on the newly created blockchain. SwapSteem reserve the right at our sole discretion to decide if and how we would offer support for any new cryptocurrencies and/ or blockchain forks in our services. If in cases which we decided not to support a new cryptocurrency, we may, but are not obligated to, compensate users who held STEEM in their SwapSteem online wallet at the time or air-drop. However, in accordance to our goal that we strive to bring the most user-friendly platform for the exchange of STEEM or SBD to fiat currencies, we would be communicating our decisions concerning any significant releases of SMT or forks with the communities as promptly as possible.
At SwapSteem, we value your privacy and it is important to us. To better protect your privacy, we publish a notice explaining our online information practices and the choices you can make about the way your information is collected and used at this site.
The platform and all materials available and incorporated by SwapSteem are subjected to the protection of copyrights or other proprietary copyrights. All graphics, including logos and images which can be found on this platform are protected as well.
By using our service, you acknowledge and agree that all copyrights, trademarks and intellectual property rights in this platform belongs to SwapSteem and our licensors. A revocable, non-exclusive, non-sublicensable, non-transferable and limited license if granted to you, subject to the terms of this Agreement, to use our platform and service. Any other forms of the use of the information to exploit or attempt to profit of, are strictly prohibited and you expressly agree not to do so.
By using the service provided by this platform, you explicitly acknowledge that you use is at your own risk. SwapSteem and all the materials, information, software, facilities, services and other content are provided 'As Is' and 'As Available' without warranties of any kind, either expresses or implied. Besides, SwapSteem does not warrant that the functions contained in this platform will be available, uninterrupted or error-free, that defects will be corrected, or that SwapSteem or the servers that make them available are free of viruses or other harmful components. Simply, SwapSteem does not warrant or make any representation.
Also, it is important to note that SwapSteem does not accept any liability for any loss or damage, direct or indirect, resulting from any use of, or inability to use, SwapSteem or the material, information, software, facilities, services or other content on SwapSteem, regardless of the basis upon which liability is claimed and even if SwapSteem has been advised of the possibility of such loss or damage. Without limitation, you (and not SwapSteem) assume the entire cost of all necessary servicing, repair or correction in the event of any such loss or damage arising.
The users, as in you, agree to be fully responsible for (and fully indemnify us against) all claims, liability, damages, losses, costs and expenses, including legal fees, suffered by us and arising out of or related to any breach of this Agreement by you or any other liabilities incurred by us arising out of your use of the services, or use by any other person accessing the services using your user account, device or internet access account; or your violation of any law or rights of any third party.
Made with <3 By @bunyy, @shubh1692 and @aneilpatel05 at @nirvanaitsolutions