To ensure a well-functioning P2P marketplace, it is crucial for all participants to uphold a set of high standards.
This code of conduct outlines the key behaviors that buyers and sellers are expected to follow, including honesty, respect, fair pricing, compliance with laws and regulations, and accountability. By following these guidelines, we aim to create a market place that is safe, reliable, and beneficial for all participants.
Principles of the Bitfinex P2P Market
Understand and comply with the P2P Market Place Terms of Service: The principles and guidelines in this code of conduct supplement the P2P Market Place Terms of Service. Ensure you understand, agree to and comply with the P2P Market Place Terms of Service at all times.
Honesty and transparency: All parties should be honest and transparent about any relevant information related to the transaction.
Respectful communication: All communication between buyers and sellers should be respectful and professional. Any form of harassment, discrimination, or hate speech is not permitted.
Timely responses: Both buyers and sellers should respond to inquiries and messages in a timely manner to avoid any misunderstandings or delays.
Fair pricing: Prices should be fair and reasonable for both buyers and sellers. Ads which violate this principle may be removed. Any attempts to manipulate prices or engage in price gouging is not permitted.
Order and Quality: The Bitfinex P2P Market Place is permissive on the quantity and typology of the Ads we allow. Nevertheless, Makers should ensure that their offerings are not duplicated, confusing or misleading.
Safe transactions: Both buyers and sellers should take the necessary precautions to ensure that transactions are safe and secure. Suspicious activity should be reported.
Compliance with laws and regulations: Buyers and sellers must comply with all their local and national applicable laws and regulations, including tax laws and consumer protection laws.
Accountability for actions: Both buyers and sellers are accountable for their actions, should take responsibility for any mistakes or misconduct and be open to dialogue and dispute resolution, in a constructive way.
Dispute resolution: In the event of a dispute, both buyers and sellers should work together to find a fair and reasonable solution.
Continuous improvement: Both buyers and sellers should strive to continuously improve their interactions, communication, and overall market place experience for everyone involved. Both parties should provide feedback on their transactions to improve the overall quality of the service.
1. The Maker shall create Ads that have clear, descriptive and succinct conditions for trading using a payment method (bullet points are preferable).
2. Makers placing Ads are free to populate them with the information they determine to be required, but that information must never violate or be in conflict with the Bitfinex P2P Market Place Terms of Service.
3. For their own safety, buyers and sellers must refrain from sharing any personal information such as, social networks and messengers either in the conditions for trading, in auto-replies or during messaging.
4. Nicknames must not be misleading, such as (but not limited to) using the names of prominent people, or brand names like “Bitfinex”, names of local banks and payment systems, or any private, obscene or sensitive words.
5. Before the Taker decides to make an Offer to a Maker based on an ad, the Taker must always read carefully the conditions set out by the Maker for trading (such as using a certain payment method), to avoid unnecessary disputes after the Order gets initiated.
6. The Taker must use the Payment Method specified in the Ad it chose to engage with. Appeals are not accepted unless this condition is met.
7. The Seller should always receive the full amount, and the Buyer is always responsible for fiat transaction fees required by the payment service provider. The only exception to this rule, is if the Buyer (acting as Maker) has established in the Ad that the transaction costs are supported by the seller.
8. During the transaction, both parties shall refrain from using offensive language with each other, either in the tools provided by Bitfinex or during other interactions.
9. The Appeal process is only available for Orders initiated on the platform. Any interaction between both parties outside of the Bitfinex P2P Market Place is outside the scope of these guidelines or our support.
10. Appeal coherently and with common-sense. Do not abuse the reporting functionality.
1. Buyers must use a payment method supported by the Seller and transfer the amount as shown on the Order’s conditions for trading, within the time specified by the Seller in a single transaction. Any change to this must be preceded by a prior agreement with the Seller.
2. If the payment method is not anonymous, the payment by the Buyer should come from an account matching the verification information used in their Bitfinex account.
3. Buyers must follow-up the payment by moving the Order forward through the button presented to that effect, otherwise the Order will timeout automatically. Buyers must not click this button before the payment has been made.
4. If the payment method has personal information, the account owner name must be consistent with the registered name during Bitfinex verification.
1. Pricing for agreed Orders between the Seller and the Buyer are final and non-negotiable.
2. If the payment method that was used to collect payment has personal information, the account owner name must be consistent with the registered name during Bitfinex verification
3. Although a window of 20 minutes is given for contingency reasons, after confirming receipt of the Buyer’s full payment the Seller should complete the Order (release the crypto to the Buyer) within 5 minutes
4. If this time limit is exceeded, the order will automatically change status to Appealed. Our customer support team will review the case and contact both parties via the Instant Message chat, or any other supported contact method, if required.
5. If you have uncompleted Orders or disputes with a Buyer, please make sure to stay contactable at all times via the mobile phone number or email that you registered with Bitfinex
6. In case of extra fees charged by the payment service provider, the Seller has to provide proof of those fees by payment service providers to clearly show the amount deducted.
If you have any questions, please do not hesitate to reach out to Bitfinex Support.