1. General

1.1 These Terms of Use (the “Terms” or this “Agreement”) govern the use of the Bybit Peer to Peer service (“P2P” or “P2P Service”) offered by Bybit Limited operating as Bybit Kazakhstan (the “Company”, “Platform”, “we”, “us” or “our”).

 

1.2 The Terms form a binding agreement between the Company and you, as a Taker (“Taker”, “you”, “your” or “User”) and serve to supplement our Terms of Use found at https://www.bybit.kz/help-center/article/Bybit-Platform-Terms-and-Conditions. 

 

1.3 By accepting these Terms and using the P2P Service, you confirm your acceptance of this Agreement and our associated P2P Privacy Agreement. 

2. Definitions

Unless otherwise defined or the context otherwise requires, all capitalized terms shall have the meaning given to them in these Terms:

2.1 Advertisement means an offer published on the Platform by a Maker to buy or sell Digital Assets for fiat currency through the P2P Service, specifying the terms, conditions, and price at which the Maker is willing to enter into an Order.

 

2.2 Approved Payment Method means a fiat payment method authorized for use in transactions under the P2P Service. The Platform may, by notice, enable, restrict, withdraw, or designate additional fiat payment methods at its discretion.

 

2.3 Applicable Laws means the Acting Law of the Astana International Financial Centre Acts (“AIFC”).

 

2.4 Designated Bank Account means bank account opened in the name of, and belonging solely to the the Taker and Maker. 

 

2.5 Fiat Payment means the transfer of fiat currency made by a Taker through an Approved Payment Method in settlement of an Order under the P2P Service.

 

2.6 Order means an instruction placed by a Taker through the P2P Service to buy or sell Digital Assets in response to an Advertisement of Maker, which, once confirmed, creates a binding obligation between the Taker and the Maker to complete the relevant transaction.

 

2.7 Platform Rules means, collectively, the rules, policies, and terms of the Platform governing the use of the Platform, including the P2P Service and the relationship between the Platform and Users, including without limitation the Bybit Kazakhstan Platform Terms of Use, Privacy Policy and the P2P Privacy Agreement.

 

2.8 Payment Window means the period of time within which the paying party must complete the Fiat Payment and submit any required payment evidence, and the receiving party must confirm receipt. Failure to act within the Payment Window may result in the Order being cancelled, disputed, or otherwise processed in accordance with the Platform Rules.

 

2.9 Maker means a legal entity approved by the Platform to post Advertisements (offers) to buy or sell Digital Assets under the Platform’s P2P Service and to execute Orders placed by Takers under such Advertisements.

 

2.10 Taker means a user who places an Order in response to an Advertisement via the Platform.

3. Eligibility and Verification

3.1 Access to the P2P Service is permitted only upon successful completion of the identity verification procedure (know-your-customer, or KYC) and submission of all documents required by the Platform, in accordance with the Applicable Laws and the Platform’s Rules. The Platform may conduct enhanced due diligence (EDD) at any time and my report any suspicious activity to competent authorities or regulators without notice to the Taker, as permitted or required by Applicable Laws.

 

3.2 Takers shall provide information that is accurate, current, and not misleading; promptly notify the Platform of any material changes; and submit to screening and re-verification upon request of the Platform.

 

3.3 Takers shall strictly comply with the Platform’s identity verification (KYC) requirements (including but not limited to the real-name verification requirement) concerning Takers’ identity and P2P transaction-related accounts, including but not limited to digital asset accounts and fiat currency accounts, hereinafter collectively referred to as “Accounts.” Takers shall ensure that the Accounts they use on the P2P Service are legally registered, belong and only used by themselves.

 

3.4 When triggering the Platform’s anti-money laundering and anti-terrorist financing alarms, Takers shall actively cooperate with the Platform in its verification, and assist in providing any risk control evidence as needed (subject to the Platform’s risk control measures). 

 

3.5 Takers are responsible for ensuring that they have the legal rights to the transaction. The Platform shall not be responsible for the legality or illegality of Users’ transactions in any way. While the Platform is not part of any P2P transactions between the Taker and Maker, to make sure all transactions are legally compliant, the Platform may (but is not obliged to) review the transactions carried out by Takers for the legality as necessary and take actions in accordance with Applicable Laws and 2.7. Platform Rules.

 

3.6 It is Takers’ responsibility to abide by local laws in relation to the legal usage of the Platform, as well as other laws and regulations applicable to Takers. Takers must also factor, to the extent of their local laws, all aspects of taxation, the withholding, collection, reporting, and remittance to their appropriate tax authorities.

4. General Trading Requirements:

4.1 Before you have decided to initiate an Order with the Maker, you must carefully read and understand the description that have been written on the Advertisement description page to avoid unnecessary disputes between the parties after the Order gets initiated.

 

4.2 By placing an Order, the Taker accepts the terms of the applicable Advertisement.

 

4.3 Fiat Payment shall be remitted solely from/to the Taker’s Designated Bank Account via the Approved Payment Method. The use of third-party, joint, nominee, or unverified bank accounts are prohibited. The account-holder name and IBAN (or equivalent account identifier) must match the verified profile. Any breach shall entitle the Platform to immediately cancel the Order, freeze assets, and report the transaction to competent authorities.

 

4.4 The Taker shall submit the required payment evidence within the Payment Window and comply with related instructions issued under the Platform Rules.

 

4.5 Upon submission of an Order, Digital Assets are placed in Escrow and shall be released in accordance with the Platform Rules after the seller has confirmed full, unconditional, and irrevocable fiat receipt and no unresolved red flags exist (including name/IBAN mismatch, suspected fraud, or sanctions risk or other) and satisfaction of any AML/CTF checks required under Applicable Laws. The Platform reserves the right to impose or extend Escrow holds where reasonably necessary.

 

4.6 You must ensure that the Payment Method selected (when placing your Order) is the same as the one specified in the Advertisement description. Both the Maker and the Taker are required to use accounts with their real KYC names. Third-party payment is prohibited.

 

4.7 Only Fiat Payments made to the Takers’ bank account, where the account holder’s name matches the registered name on the Platform, are permitted. The Takers’ bank account name must be identical to the verified name on the Platform. Payments to third-party accounts are strictly prohibited.

 

4.8 When transferring payment to the User’s bank account, you shall be responsible in verifying that the User’s name is identical to his or her name verified and registered on Bybit’s Platform. Bybit shall not be responsible for any losses or liability arising from your error in verification or failure to verify the Maker’s identity prior to transfer of payment.

 

4.9 All communications, instructions, and settlement relating to matched Orders shall occur solely through the Platform. Off-Platform settlement or diversion of communications is prohibited.

 

4.10 The Taker shall not include personal data (e.g., social media or messenger IDs) in transaction terms or auto-replies; shall avoid sensitive words and crypto-related terms in payment remarks (including “Bybit,” bank or payment-system names, "USDT," "crypto," "digital assets," usernames/nicknames); and shall not operate multiple accounts for P2P activity. Breaches may result in warnings, trading restrictions, or other measures.

 

4.11 Fiat Payments shall be made in accordance with the Advertisement and the Platform Rules; splitting or staggering payments contrary to the Advertisement is not permitted. No fees or charges beyond those stated in the Advertisement shall be demanded, offered, or accepted.

 

4.12 Fiat transfers under P2P transactions shall be made solely from/to the Taker's own Designated Bank Account via Approved Payment Method. Third-party, joint, nominee, or unverified accounts are prohibited. Breach may result in investigation by the Platform, AFSA, and/or competent authorities of the Republic of Kazakhstan.

 

4.13 Transactions shall be conducted only with Makers approved by the Platform in accordance with Applicable Laws. The existence of an Advertisement does not constitute a recommendation or warranty by the Platform.

 

4.14 The Taker shall communicate respectfully, respond to the Platform's information and other requests within prescribed timeframes, and comply with deadlines set in the Platform Rules.

 

4.15 You should never engage in any form of cryptocurrency trading that is facilitated by a third-party channel, such as social media, chat messaging apps, or face-to-face trading. The Platform shall not be and cannot be responsible for any loss of or damages to assets through transactions that are performed or initiated outside of the Platform by the Users. The Platform sets the rules for the transaction between Maker and Taker, solely to support the user experience on the Platform. The Platform is not part of any P2P transactions.

 

4.16 Users should refrain from using foul and offensive language when using the Platform. This includes, but not limited to, the tools permitting messaging with other users and the customer support live chat, as well as the order comment section.

 

4.17 Do not click on the "Payment Complete" button until payment is complete. Your account may be frozen if you tap/click the "Payment Complete" button when the payment has not been completed.

5. Disputes 

5.1 Disputes arising from an Order shall be raised through the Platform’s dispute channel in accordance with the Platform Rules. You are required to cooperate with investigations and provide a timely response within the given timeframe in the case of any P2P dispute raised. Investigations are not of a judicial nature; instead, they are designed to assist in resolving your dispute with your P2P counterparty. Your cooperation in the dispute resolution process may include providing relevant information, evidence, or documentation as requested by the Platform. Failing which, a resolution not in your favor may arise.

 

5.2 In the case of a dispute initiated against any participant after the Order has been completed or canceled, you agree and accept that we reserve the sole discretion, but not the obligation, to freeze the disputed amount of assets for investigation. We further reserve the right and discretion to process the transfer of frozen assets to the appellant if no evidence in your favor is provided within the given time frame during the investigation.

 

5.3 The Platform reserves the right to refrain from assisting with any dispute if: (i) the issue is reported without valid or required evidence; (ii) the incident occurred more than 60 days prior to the dispute being raised; or (iii) the Platform determines, at its sole discretion, that a fair resolution cannot be reasonably achieved. Where the Platform assisted with resolving a P2P dispute and delivered a decision on the P2P dispute, should you be dissatisfied with the decision/outcome of the P2P dispute, you may raise an appeal against the decision/outcome provided that such appeal on the decision/outcome is raised within 60 days from the date of delivery of the decision/outcome by the Platform. Please note that the obligation is on you as the User to provide the relevant information, evidence, or documentation as requested by the Platform, failing which, the Platform reserves the right to not provide assistance or not continue with the appeal against the decision/outcome, and such decision/outcome should be considered final.

 

5.4 Nothing in these terms requires us to provide a dispute resolution in your favor. We provide a mediation solution in goodwill. Given the nature of P2P transactions, you assume risks with your counterparty. We cannot and will not act as adjudicators, and you shall exempt us from all liabilities arising thereto from the provision of mediation solutions.

 

5.5 In the event of a violation of this Terms, the Platform may take any action it deems appropriate in accordance with this Terms, or Applicable Law, including without limitation freezing the violator's account or disabling any account functionality on Bybit's Platform.

 

5.6 The Platform is not a party to P2P transactions and has neither the right nor the obligation to resolve user disputes. However, the Platform will take all reasonable measures to facilitate the resolution of such disputes in accordance with the Platform Rules. To the fullest extent permitted by Applicable Law, the Platform assumes no financial or other obligation or liability to any party (including indemnification).  

 

5.7 The Platform may, in its discretion and without prior notice, restrict, suspend, or terminate access; place, extend, or release Escrow holds; cancel or unwind Orders; and take other protective measures where there are reasonable grounds to suspect a breach, multi-account activity, fraud, sanctions/AML concerns, or similar policy violations. To the maximum extent permitted by law, the Platform is not liable for losses, damages, loss of profits and other consequential damages arising from P2P transactions except where caused by the Platform’s willful misconduct or gross negligence. 

6. Risk, Disclaimers and Liability

6.1 Takers acknowledges and accepts the inherent risks of P2P transactions and Digital Assets, including the possibility of total loss of funds, price volatility, counterparty credit risk, payment delays or reversals/chargebacks, operational or network incidents, and legal/regulatory change, and accepts sole responsibility for resulting losses or liabilities.

 

6.2 Payment providers, banks are independent third parties; the Platform has no business relationship with them and assumes no responsibility or liability for their performance, availability, fees, chargebacks/reversals, errors, or related disputes. 

 

6.3 The P2P Service is provided “as is” and “as available.” To the extent permitted by Applicable Law, all warranties (express, implied, statutory) are disclaimed, and the Platform is not liable for indirect, special, incidental, consequential, exemplary, or punitive damages or losses.

 

6.4 You confirm that you possess sufficient investment knowledge and experience, are capable of assuming the risks associated with P2P transactions, and agree to assume sole liability for all risks associated with P2P transactions.

 

6.5 It is prohibited to conduct P2P transactions using multiple accounts. If we discover such accounts, we reserve the right to prevent all associated user accounts from conducting transactions.

 

6.6 You agree and authorize the Platform to take any reasonable action (including, without limitation, canceling transactions or disabling account features in certain circumstances) to protect the legal rights of yourself, the Platform, and any other users in accordance with this Policy and the Bybit Platform terms and rules.

 

6.7 If the Platform detects any fraudulent trading activities or behaviors that affect platform fairness (such as arbitrage, wash trading, etc.), appropriate measures will be taken against the relevant accounts. These measures may include, but are not limited to, issuing warnings, restricting trading activities, delisting advertisements, and other penalties.

 

6.8 You agree that, to the maximum extent permitted by law, the Platform shall not be liable for any losses you suffer from P2P transactions or the use of services under this Terms due to reasons other than the Platform’s wilful misconduct or gross negligence, including but not limited to hacker attacks, power outages or unavoidable technical failures, etc.

7. Suspension and Termination

7.1 The Platform has the right to restrict, suspend, or terminate your Account or access to services in the Platform’s sole and absolute discretion, immediately and without notice and for a period, at the discretion of the Platform, if:

• There are reasonable grounds to suspect that you violated or attempted to violate this Terms and Platform Rules;

• We find that you conduct P2P transactions through multiple accounts or third party accounts;

• We believe it is necessary to protect our other Users. If we exercise our right to restrict or deny your access to the P2P Services, we will not be responsible for any consequences of our failure to provide you with access to the Services, including any delay, damage, or inconvenience that may result;

• If you fail to fulfill the obligations in the investigation process of disputes, it may result in financial loss to other users on the Platform.

• We determine that you are using our Platform in any way that may adversely affect or prevent other users from taking advantage of our P2P Services;

• It is revealed that in the process of interacting with other users, you have used obscene language against the counterparty, insulted, extorted, harassed, threatened, or otherwise violated or tried to violate legal rights (such as, among other things, the rights to privacy, publicity, intellectual property, etc.) of other users, as well as have engaged in the collection of private information which has subsequently been distributed to any other parties.

• Continued provision of the P2P Services would, in our reasonable opinion, expose the Platform or its affiliates to regulatory, reputational or enforcement risk in Kazakhstan or any other relevant jurisdiction.

 

7.2 You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your Account or wallet, may be based on confidential criteria that are essential to our risk management and security protocols. You agree that the Platform is under no obligation to disclose the details of its risk management and security procedures to you.

 

7.3 We will remove the suspension as soon as possible once the reasons for the suspension no longer exist. However, we are under no obligation to notify you when (if ever) such suspension will be lifted.

8. Data Protection and Privacy

8.1 Personal data processing is governed by the Privacy Policy and P2P Privacy Agreement of the Platform. By using the P2P Service, you agree to such processing. You shall process any counterparty data received via the Platform solely for transaction execution and compliance, and not for unrelated purposes.

 

9. Miscellaneous

9.1 These Terms, and any non-contractual obligations arising out of or in connection with them, shall be governed by and construed in accordance with Applicable Laws, and where the AIFC Acts are silent, the law of the Republic of Kazakhstan. Any dispute shall be subject to the exclusive jurisdiction of the AIFC Court.

 

9.2 These terms shall officially take effect on the date they are published and shall be regularly revised or improved. The revisions or improvements shall take effect from the date they are published. Please stop using the P2P Services immediately if you do not agree with the revised or improved terms. Further access to the P2P Trading platform services indicates your full understanding and acceptance of the aforementioned updated Terms, as revised or improved from time to time, as well as your voluntary agreement to be bound by such.

 

9.3 If any provision is held invalid or unenforceable, the remaining provisions remain in full force and effect. The Taker may not assign or transfer any rights or obligations under these Terms without the Platform’s prior written consent; any attempted assignment in breach of this clause is void.