OTC Trading Rules

Chapter 1 User Registration

Users who register with their real names on this platform are responsible for the authenticity, accuracy and completeness of the submitted materials. Users voluntarily accept the services, management and supervision of this platform, and must provide registration information in accordance with relevant regulations, read and agree to abide by the following BiKing terms.

"Service Agreement"

"Terms of Service and Privacy"

 

 

Chapter 2 Account Management

Users should properly use and keep their account numbers and passwords, fund passwords and other related account information. Users are fully responsible for any operations and consequences using their account numbers and passwords, fund passwords, mobile phone verification codes, and email verification codes.

When the user finds that the account number, password, or fund password, verification code is used by a third party without his authorization, or there are other account security issues, he should immediately and effectively notify BiKing customer service and request to suspend the service of the account. The BiKing platform has the right to take action on the user's urgent request within a reasonable time, but shall not be liable for any losses suffered by the user before taking action.

Account collection settings: users should use accounts consistent with their real-name information (such as bank cards, Alipay, WeChat, etc.). The name of the payee's transaction fund account should be consistent with the BiKing real name information. If not, the user can request a refund and cancel the order.

Please note and abide by the User Agreement and other terms of service and operating rules that are published and updated from time to time.

Chapter 3 Trading Rules

Article 1 Notice to Buyer

1. After the buyer purchases digital currency and pays, please mark the payment as completed within the transaction time period.

2. Before the transaction, the buyer should understand the detailed information and payment method of the other party, communicate and agree through the chat box of the platform, and keep the chat records. Chat history is an important basis for solving problems when disputes occur. If disputes arise, appeals can be filed.

3. After the buyer places an order for payment, please mark the payment as completed immediately, and wait patiently for the seller to confirm receipt of the payment. Do not click to cancel the order before the seller releases the currency. Once the order is cancelled, the escrowed digital currency will be returned to the seller’s wallet, and payment will be made. There will be a risk of irrecoverable funds going out.

4. The buyer should use an account with the same real name information (such as bank card, Alipay, WeChat) to transfer money. In case of inconsistency, the seller can request a refund and cancel the order.

5. The buyer should check the latest payment method of the seller and confirm the accuracy of the receiving account. If the buyer fails to remit the money according to the agreed account generated by the order, the buyer will bear the risk of fund security.

6. The buyer should transfer according to the order amount displayed by the system (accurate to two decimal places), so that the seller can reconcile the account and release the digital currency in time.

7. When the buyer transfers money, please do not remark any information on the transfer page, and fill in digital currency words such as BTC, Bitcoin, and certain currency to prevent being intercepted by the bank. Otherwise, the seller may request a refund without closing the deal.

8. In order to ensure the timeliness of the transaction, please choose the "real-time transfer" transfer method, such as Alipay, WeChat, bank real-time remittance, etc. From 17:00 to 9:00 on holidays or working days, please transfer the remittance over 50,000 in batches (less than 50,000 per transaction) to ensure timely arrival.

9. If the buyer cancels 10 orders on the same day, the order function of the day will be restricted (statistics will be made within 24 hours from the first order being canceled). If the buyer fails to pay due to the seller's failure to provide a valid payment method and the "number of cancellations" is recorded, please contact online customer service.

10. If the buyer is complained by the seller and the system determines that the complaint is valid, the reasons include but are not limited to the following:

The order is automatically expired and canceled;
Extend the validity period of the order, and express that the payment cannot be completed for various reasons, and finally no payment is made;
Not paid, but marked as paid.

 

Article 2 Notice to the seller

1. When the seller is selling, please carefully confirm the price you are selling. For complaints caused by the advertised price, if the buyer has not violated the regulations, we will determine that the asset belongs to the buyer. After the buyer places an order, the seller's digital currency will be escrowed by the platform. After the buyer marks the payment, please log in to the bank card, Alipay, and WeChat to check. After the seller confirms that the payment information is correct, the digital currency will be released as soon as possible. The loss caused by the release of digital currency without confirming that the payment is correct shall be borne by the seller.

2. If the buyer does not receive the account within 30 minutes after marking the payment, the seller can choose to appeal; if the buyer does not follow the first payment and then mark the payment, the payment cannot reach the account within 2 hours, or the order is canceled after payment, the seller can choose to appeal and refund No deal.

3. When the seller collects money, please carefully verify whether the real name information of the buyer's payment account is consistent with the real name information of the platform. If they are not consistent, please pay attention to the risk of collection. When there is a complaint on this type of order, the seller can choose to refund and refuse the transaction. If the payment account of another person is frozen due to the user's acceptance of non-real-name payment, the platform will investigate the source of the funds in question, and has the right to directly freeze the user's platform account and cancel the merchant's certification qualification.

4. After the seller checks that the payment is correct, the digital currency will be released as soon as possible. The buyer has not violated any regulations. If the seller fails to release the digital currency within 30 minutes after the buyer marks the payment, the buyer has the right to request a refund if the order is appealed. If the seller refuses to coordinate, the BiKing platform will have the right to directly Release the digital currency to the buyer and freeze the seller's account.

5. If the seller is complained by the buyer and the system determines that the complaint is valid, the reasons include but are not limited to the following:

Failure to provide valid collection information, resulting in the buyer being unable to pay;
The buyer provided the payment voucher and marked the payment for more than 1 hour, but the seller has not released the digital currency.

6. If the real name of the payment account is inconsistent with the real name of the platform authentication, the seller has the right to choose the following operations:

The buyer is required to carry out video KYC with an ID card or passport, etc., to prove that the source of funds is legal;
Refunds to the original route are not accepted;
Seized digital currency will not be released for 72 hours. After 72 hours, the seller decides to release or refund the original route.

 

Chapter 4 Transaction Abnormalities

Article 1 BUYER Abnormalities

1. After the order is created, the buyer cancels the order
If it reaches 10 times in one day, the system will restrict the buyer’s purchase function; if it is triggered for 2 consecutive days, the system will further restrict some functions of the buyer’s account.

2. After the order is created, the system automatically cancels the order due to payment timeout.
If it reaches 5 times in one day, the system will restrict the buyer's purchase function; if it is triggered for 2 consecutive days, the system will further restrict some functions of the buyer's account.

3. If you have not paid, click "I have paid".
The seller has the right to request to cancel the order. If the buyer receives 2 complaints on the same day, the system will limit some functions of the buyer's account; if the single amount of such complaints exceeds RMB 50,000, the system will directly limit the buyer's account for 48 hours.

4. The payment is not made according to the receiving account displayed on the seller's order details page.
The seller has the right to request to cancel the order, and the digital assets are returned to the seller, and the buyer bears the risk of transferring the wrong amount.

5. Failure to pay according to the account provided by the seller in the order chat window and the real name of the bound account.
The seller has the right to request to cancel the order, and the digital assets are returned to the seller, and the buyer bears the risk of transferring the wrong amount.

6. If you have not paid, click "I have paid" first, and then make the payment.
The seller has the right to choose to continue the transaction or cancel the order after refunding.

1. If the seller chooses to complete the transaction, the seller user needs to complete the release within 10 minutes after receiving the full payment;

2. If the seller chooses to cancel the order, the seller should complete the refund within 2 hours after the order appeal, and the digital assets will be returned to the seller.

7. Failure to pay with a payment account whose real name is the same as that of the platform account.
The seller has the right to directly refuse the transaction, and the seller can complete the refund process within 24 hours after receiving the payment, and the digital assets will be returned to the seller;

If the buyer has received 2 complaints due to such circumstances, the system will limit the buyer's account for 48 hours.

8. If payment is made within the payment time specified in the order, the order will be cancelled.
a. The buyer has completed all payments, and the order is canceled by the buyer or canceled by the system overtime;

b. The buyer completes part of the payment, but the order is canceled by the buyer or canceled by the system overtime.

If the order is canceled by the buyer voluntarily or the order is canceled by the system overtime, the seller has the right to choose to continue the transaction or refund the transaction.

1. If the seller chooses to complete the transaction, the order platform will be reopened directly, and the seller needs to complete the release within 10 minutes after receiving all the funds.

2. If the seller chooses to cancel the order, the seller must complete the refund within 2 hours after the order appeal, and the digital assets will be returned to the seller;

9. If you pay separately, if all the transfers have not been completed, click "I have paid" first, and then continue to complete the payment.

1. If all payments are completed within the payment time specified in the order, the seller should continue to complete the order;

2. If all payments are not completed within the time specified in the order, the seller has the right to choose to continue the transaction or cancel the order after refunding.

a. If the seller chooses to continue the transaction, the seller should complete the release within 10 minutes of receiving all payments.

b. If the seller chooses to cancel the order, the seller must complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the seller.

10. The payment amount does not match the order amount.
1. If the payment amount is greater than the order amount, the order is completed, and the seller should refund the excess amount within 30 minutes after receiving the payment.

2. If the payment amount is less than the order amount, the seller has the right to choose to continue the transaction or request to cancel the order after refunding.

a. If the seller chooses to continue the transaction, he has the right to complete the transaction according to the actual order amount and complete the order.

b. If the seller chooses to cancel the order, the seller must complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the seller.

11. After the buyer clicks "I have paid", the seller does not receive the payment within 1 hour.
1. Unless the buyer's payment method has been agreed by the seller in advance, the seller has the right to choose to continue the transaction or cancel the order after refunding.

a. If the seller chooses to complete the transaction, the seller needs to complete the release within 10 minutes of receiving the payment.

b. If the seller chooses to cancel the order, the seller must complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the seller.

2. The seller is the publisher of the advertisement, and the buyer cannot be contacted within 10 minutes after the appeal. After verification that the seller has not received the payment, the appeals commissioner will give priority to canceling the order within the scope of the merchant's deposit.

12. After the payment arrives in the account, the seller's receiving account cannot verify the real-name information of the account.
1. After verifying that the buyer's payment account is consistent with the platform's real-name account, and the payment is completed within the specified time of the order, the order is normally completed.

2. If it is verified that the buyer's payment account is inconsistent with the platform's real-name account, it shall be dealt with in accordance with the measures in Article 7 above.

13. Paying for the order using a non-real-time payment method that has not been agreed by the seller.
The seller has the right to choose to continue the transaction or request to cancel the order after the refund:

1. If the seller chooses to complete the transaction, the seller needs to complete the release within 10 minutes of receiving the payment.

2. If the seller chooses to cancel the order, the seller must complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the seller;

14. During holidays or working days from 17:00 to 9:00 the next day, the remittance of more than 50,000 yuan by bank card has not been paid in batches, so the seller cannot receive the transfer within 1 hour.
The seller has the right to choose to continue the transaction or refund after canceling the order.

1. If the seller chooses to complete the transaction, the seller needs to complete the release within 10 minutes of receiving the payment.

2. If the seller chooses to cancel the order, the seller must complete the refund within 30 minutes after receiving the payment, and the digital assets will be returned to the seller.

15. The seller's collection account is abnormal due to the buyer's payment.
1. If the buyer cannot provide proof of normal account, the seller should complete the refund within 24 hours after the receiving account is transferred to normal, and the platform will cancel the order.

2. The buyer can provide proof of normal account, and after verifying that the buyer's account is normal, the order is completed and the digital assets should be delivered to the buyer.
For example: the seller is a V user, within the scope of the deposit, the digital assets are returned to the seller, and the seller should complete the refund within 24 hours after the receiving account is transferred to normal.

16. Remarks when paying: words like "digital currency, BTC, Bitcoin" and so on.
The seller has the right to choose to continue the transaction or refund the transaction.

1. If the seller chooses to complete the transaction, the seller should complete the release within 10 minutes of receiving the payment.

2. If the seller chooses to refund but not complete the transaction, the order will be cancelled, the digital assets will be returned to the seller, and the seller will complete the refund within 60 minutes after receiving the payment; if the seller’s receiving account is frozen, it will be dealt with according to the above-mentioned measures in Article 15.

 

 

Article 2 SELLER Abnormalities

1. After the order is generated, there is any objection to the order price.
Unless the buyer agrees to negotiate the order price, the order is normally completed, and the seller should release it within the time specified in the order.

2. The receiving account provided by the seller is abnormal. the
The buyer has the right to choose to continue the transaction or cancel the order.

1. If the buyer chooses to complete the transaction and confirms that the buyer has paid in full within the time specified in the order, the seller should complete the release within the time specified in the order after receiving the payment.

2. If the buyer chooses to cancel the order, the digital assets will be returned to the seller after the seller completes the refund.

3. Since the seller did not provide an effective payment method in time, the buyer could not complete the payment, resulting in the cancellation of the order.
As a result, the seller has been complained twice, and the system will restrict some functions of the seller's account.

4. The seller (not a merchant) has not bound valid collection information consistent with his real name or provided the buyer with a collection method inconsistent with the platform’s real name, such as: when receiving payment through Alipay or WeChat, account number and QR code collection The person's name does not match the payee's name displayed on the order details page.
1. The buyer has the right to cancel the order and complain to the platform.

2. The seller has been complained for 3 times, and the system will permanently limit the seller's account.

3. If the buyer chooses to continue the transaction, the risks arising therefrom shall be borne by the buyer himself.

5. The buyer's payment account information is inconsistent with the platform's real-name information, and the transaction is not rejected.
1. The risks arising therefrom shall be borne by the seller.

2. If there is a complaint due to this, the system will restrict some functions of the seller's account.

6. After receiving the buyer's full payment, the release is not completed within 10 minutes.
The buyer has the right to choose to continue the transaction or request a refund after canceling the order.

1. If the buyer chooses to close the deal, the ombudsman will determine that the asset belongs to the buyer.

2. If the buyer cancels the order after requesting a refund, the seller should complete the refund within 30 minutes.

 

 

Chapter 5 Explanation of Rates

Article 1 Related Fees

Advertising rate: Biking does not charge service advertising fees

Note: 0 handling fee for issuing orders and selling orders; no merchant handling fees for merchants buying orders.

Article 2 Commissioned Release Rules

For merchants, after issuing a buy order entrustment and successfully transacting, the merchant does not need to bear the advertising fee for the time being.

 

 

Chapter 6 Punishment Standards

1. If you cancel 10 orders on the same day, you will be restricted from placing orders on the day (statistics will be counted within 24 hours from the cancellation of the first order). If you cannot pay because the seller did not provide a valid payment method, it will be recorded For the number of cancellations, please contact online customer service.
2. The seller who has received the payment but deliberately refuses to release the currency will be banned from OTC transactions for 72 hours to 720 hours.
3. If the buyer clicks "Mark Paid" without paying, he will be banned from OTC transactions for 72 hours to 720 hours.
4. If there is a discrepancy in the amount of the transaction, including but not limited to no refund for overcharge, no refund for underpayment, and failure to cooperate with customer service and transaction partners, the digital currency wallet will be frozen and OTC transactions will be prohibited for 72 hours to 720 hours.
5. Forging receipt/payment vouchers will permanently freeze the account.
6. For malicious transactions, fraudulent use of transactions, etc., the platform can choose to implement punishment measures such as banning OTC transactions and permanently freezing accounts, and assist the judicial authorities to deal with them when necessary.
7. For transaction disputes, the platform has the final jurisdiction.

Chapter Seven Civilized Transactions

1. In order to create a good trading experience, buyers and sellers should use civilized language during the transaction.
2. If a buyer/seller contains insults, slander, etc. in the transaction chat/order evaluation, they will be banned from OTC trading for 72 hours to 336 hours, and the relevant evaluation will be deleted.
3. After placing the order, please fulfill the spirit of the contract. If you maliciously raise the price or go back on your word, if the complaint is successful, your account will be frozen for 72 hours to 336 hours.
4. Posting any information that discusses, recommends, or provides advice on illegal activities is strictly prohibited.

 

 

Chapter 7 Others

1. This agreement will come into effect for you from the date of promulgation of the update, and will terminate on the date when your merchant qualification is terminated and the corresponding obligations under this agreement are fulfilled;
2. If you have any questions about this agreement, or have any complaints or comments about the handling methods in this agreement, please contact us through the following channels: please contact the official business telegram @Bikingsw08;
3. The final interpretation right of this agreement belongs to this platform.