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Terms of Use for Coinhoho Users

A. Coinhoho Global Quick Exchange

By subscribing to or using Coinhoho's designated URL, as well as any mobile applications or other related services or applications ("Coinhoho Global Quick Exchange"), you acknowledge that you have read, understood, and accepted all the terms and conditions in these product terms, and you acknowledge and agree that you will comply with these terms. If you do not fully understand and accept these terms, you should not subscribe to or use them.

B. Overview of Coinhoho Global Quick Exchange

  1. Coinhoho Global Quick Exchange allows users to quickly trade digital assets directly with various national currencies.

    a. As an advertiser, you can post offers to buy or sell digital assets on Coinhoho ("Ads"). Ads include the quantity of digital assets you want to trade, the price you want for the digital assets, order limits, the payment method you want to use, payment windows, and other applicable terms, as well as your offer conditions. (Currently, only some verified and compliant advertisers are accepted.)

    b. As a taker, you can place an order for Ads previously posted by specifying the quantity of digital assets you want to trade. As a taker, you must use the payment method supported by the Ad you placed the order on and must comply with the terms and conditions set by the advertiser.

  2. Whether you are an advertiser or a taker, you can be a buyer or seller of digital assets on Coinhoho Global Quick Exchange.

  3. We may require you to meet certain eligibility criteria to trade on Coinhoho Global Quick Exchange, and Coinhoho Global Quick Exchange may modify these eligibility criteria from time to time.

  4. You understand and agree that placing an order under an Ad on Coinhoho constitutes acceptance of the offer published in that Ad and constitutes a commitment to trade digital assets. In this case, we will lock the specified amount of digital assets in the order until both parties confirm the successful completion of the fiat currency transfer based on digital assets. You understand that the locked amount of digital assets cannot be used in any way unless the order is canceled or the digital assets are released to the buyer after the fiat currency transfer is confirmed by both the buyer and seller.

  5. The exchange rate displayed in the Ads on Coinhoho is a reference rate generated based on real-time market fluctuations and does not represent the final confirmed exchange rate. After generating an order, you need to confirm the order information with the advertiser through Coinhoho's built-in chat box before proceeding to the next step.

  6. Experienced users with frequent trading activities and a high order completion rate on Coinhoho Global Quick Exchange can apply to become a Verified Merchant. Verified Merchants may benefit from certain advantages, such as higher trading limits, lower fees, and more advanced trading tools, as described in section E below. We reserve the right to decide the standards and requirements applicable to Verified Merchants, which may vary by location, and reserve the right to refuse applications based on market conditions or other relevant factors. Depending on your location, you may also be eligible to register as other categories of Verified Merchants.

C. Choice of Payment Methods

  1. Considering the trading of digital assets, available payment methods on Coinhoho will be displayed as options for users to execute fiat currency transfers. The availability of payment methods on Coinhoho should not be considered as an endorsement, review, or approval by Coinhoho.

  2. In order to trade on Coinhoho, each advertiser must specify one or more payment methods for their Ads, which must be locally available payment methods, and each taker placing an order on such Ads must agree to use one of the payment methods specified by the advertiser for completing the fiat currency transfer.

  3. Parties trading on Coinhoho must adopt a payment method whose account owner's name matches the full name confirmed during the identity verification process on their Coinhoho account. The use of any payment method with an account owner's name different from the name displayed on your account is prohibited. If it is found that the account owner's name of the payment method you are using is different from the name displayed on your account, we reserve the right to suspend or terminate your access to Coinhoho.

  4. You understand and agree that by placing an order under an Ad on Coinhoho, either as a buyer or seller, you authorize Coinhoho to display your username/merchant name and share your full name confirmed during the identity verification process on the platform with the opposite user counterparty to the transaction.

  5. If you are a buyer, you need to initiate a fiat currency transfer with the specified digital asset within the payment window shown in the Ad after placing an order. Coinhoho will not deduct the fiat currency to be transferred to the seller. You are responsible for conducting the transfer outside Coinhoho using one of the payment methods indicated in the Ad. After completing the fiat currency transfer, you need to click the "Transferred, Notify Seller" button to confirm such transfer. If you repeatedly cancel orders after placing them or if your orders are automatically canceled due to failure to initiate a fiat currency transfer within the payment window, you may lose access to all or part of Coinhoho.

  6. By trading on Coinhoho, as a buyer, you agree to bear any transfer fees that may be charged by the payment service provider based on the digital asset-fiat currency transfer payment method chosen by both parties, unless the seller has expressly agreed to bear such additional fees or costs. Therefore, the fiat currency transferred by the buyer as consideration for trading digital assets must include any transfer fees to ensure that the seller receives the entire fiat currency amount displayed in the order (e.g., if the order amount is $10,000 and an additional $5 is charged by the selected payment method's payment service provider, the buyer should pay $10,005 instead of $10,000).

D. T+1 Withdrawal Waiting Period

  1. If you have been using certain fiat currencies for trading, you may need to wait for 24 hours to withdraw the digital assets you purchased on Coinhoho, as determined by Coinhoho itself. The waiting period should start when the digital assets are released to you. Any other trading activities you perform using your Coinhoho account during the withdrawal waiting period will not be affected.

E. Appeals Procedure

  1. If a conflict arises during the trading process and both parties cannot resolve it by directly contacting each other through the provided chat service, Coinhoho provides an opportunity for both parties to appeal. You understand and agree that the appeal mechanism we provide does not constitute a statement, commitment, or guarantee in any way to resolve disputes between the parties. Its sole purpose is to provide users with a mediation channel, and the order will be frozen during the appeal process. Users who do not cooperate during the appeal process may lose the right to access Coinhoho.

  2. Coinhoho reserves the right to make the final interpretation and judgment of appeal cases. We will decide whether to reopen the appeal based on the specific circumstances.

F. Ratings, Usernames, and User Communication

  1. After completing a digital asset transaction on Coinhoho, you may be required to rate and write feedback for your counterparty to share your experience. The rating and feedback mechanism is intended to create a respectful, safe, and transparent environment for all users. Any user trading on Coinhoho can see your rating, which may influence their decision to trade with you. You can view your current rating on Coinhoho. If your rating falls below the acceptable rating level determined by the platform, you may lose access to all or part of the features. If your account is subject to such restrictions, you will be notified, and we may share information to help you improve your rating.

  2. Your username must not include the name "Coinhoho," any bank names, payment service provider names, or any other potentially misleading or sensitive wording.

  3. When using the chat service or communicating with other users on Coinhoho in any other way during transactions, you must not disclose personal information, personal bank account, or other contact information.

  4. When using Coinhoho, you have the ability to view content provided by third parties or utilize third-party services, including hyperlinks to third-party websites and services ("Third-Party Content"). We do not endorse, adopt, or control any Third-Party Content, and we assume no responsibility or obligation for such content. Your transactions or communications with such third parties are solely between you and the third party. We disclaim any liability for any type of loss or damage arising from any such transactions, and you understand that your use of Third-Party Content and interactions with third parties are entirely at your own risk.

G. Suspicious Trading Behavior

  1. You acknowledge that our decision to take certain actions, including restricting, suspending, or terminating your access to Coinhoho, may be based on confidentiality standards critical to our risk management and security protocols. This includes but is not limited to situations where we are conducting an ongoing investigation, and we may not provide you with information regarding the reasons for such restrictions, suspensions, or terminations. You agree that we have no obligation to disclose detailed information about our risk management and security procedures.

  2. Once the reason for suspension no longer exists, we will restore your access to Coinhoho as soon as possible. However, we are not obligated to notify you whether and when such suspensions are lifted.

  3. You acknowledge that if we reasonably suspect that your Coinhoho account is used for any illegal, fraudulent, or unauthorized activities, we reserve the right to disclose your contact information to any regulatory authority.

Risk Warning

  1. The prices of digital assets may fluctuate, and these fluctuations may impact the value of digital assets you purchase or sell on Coinhoho. The value may be lower or higher at the time of the transaction and completion. You bear full responsibility for your investment decisions, and we assume no liability for any losses you may incur.

  2. You agree that if any balance or other amount is transferred incorrectly or erroneously (as determined by Coinhoho in our reasonable judgment) or is claimed to have been transferred to your account through fraudulent activity related to a transaction, we reserve the sole right to recover or reverse any such balance, amount, or transaction. In each case, we will exercise our reasonable discretion and comply with any mandatory provisions of applicable law.

H. General Terms

  1. All terms and references used in these terms, defined and interpreted in the Coinhoho Terms of Use ("Terms of Use"), shall have the same meanings and interpretations in these terms.

  2. These terms should be read together with the Terms of Use. If there is any conflict or inconsistency between these terms and the Terms of Use, the order of precedence in reading the documents shall be first these Coinhoho terms, followed by the Terms of Use.

J. Definitions

  • "Advertiser" refers to the user who publishes advertisements. Advertisers are sometimes also referred to as "merchants."

  • "Advertisement" refers to the offer posted on Coinhoho, including the quantity of digital assets a user wants to trade, the price of the digital asset, the payment methods the user wants to use for the trade, order limits, payment windows, and any other applicable terms and conditions determined by the user posting the offer.

  • "Buyer" refers to the user on Coinhoho who engages in a transaction to purchase digital assets, whether as an advertiser or recipient.

  • "Order" refers to the commitment to a digital asset transaction made on Coinhoho by an advertiser and a recipient based on the terms and conditions listed in the relevant advertisement. The order represents the acceptance of the transaction offer published in the advertisement.

  • "Order Limit" refers to the minimum and maximum quantity of digital assets or fiat currency that a recipient can trade in a single order, determined by the advertiser in a specific advertisement.

  • "Payment Window" refers to the time period set by the advertiser during which the fiat currency transfer for the digital asset should take place, considering the transfer of digital assets.

  • "Seller" refers to the user on Coinhoho who engages in a transaction to sell digital assets, whether as an advertiser or recipient.

  • "Recipient" refers to the user who places an order on an advertisement previously published by an advertiser.

  • "Transfer Fee" refers to the total of all fees or charges that payment service providers charge for the chosen payment method by both parties to transfer fiat currency from the buyer to the seller.

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