Updated October 19th, 2021
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Updated October 19th, 2021
This page sets out the service terms for P2PMoon account-holders. By signing up for a P2PMoon account, you accept all of these terms. A reference in these Service Terms to ‘we’, ‘us’ or ‘our’ means P2PMoon.
P2PMoon is a service that enables its users to find others interested in trading cryptocurrencies for local currencies and vice versa. We do not facilitate the exchange of fiat currency for a digital currency, and we do not provide a digital currency exchange service. P2PMoon does not purchase cryptocurrencies from, or sell cryptocurrencies to, its account holders.
Nothing on our website is intended to constitute legal or financial advice. The information on our website, and the posting and viewing of any the information on our website, should not be construed as, and should not be relied upon for, legal, financial or taxation advice in any circumstance.
2. Your account
You will need to register and create an account in order to access the P2PMoon platform as a user. When you register as a member and create your profile, you will need to provide us with your email address and pick a username and password. You must log in using your username and password to access the services.
You must maintain the confidentiality of your password and you are responsible for all activities that are conducted through your account, whether or not you have authorized such use.
You must remember your password. If you lose your password, you will not be able to access your encrypted communications or wallet, and there is no way for P2PMoon to recover access.
We do not allow usernames to be changed.
If you are prompted to declare your residency when signing up for an account, you warrant that you have declared your residency honestly.
You must be at least 18 years old to sign up for a P2PMoon account. If you sign up for an account, you warrant that you are at least 18 years old.
3. Posting offers
P2PMoon users may post offers to buy or sell cryptocurrencies in exchange for local currencies. Offers on the marketplace are made publicly available and can be viewed by anyone who accesses the website.
When an offer is displayed, we may also display symbols next to the offeror’s username such as a symbol to indicate the offeror’s trade activity, response rate, or standard hours.
Offerors can write their own terms and conditions of sale, which may be published with the offer or negotiated with the other party to the transaction. However, all terms and conditions of sale must include the mandatory terms specified in these Service Terms regarding P2PMoon’s fee and the process for resolving disputes.
Offers displayed on the P2PMoon website have P2PMoon’s fee (see section 7) priced into them by default, which is why buyers and sellers will see a different rate for the same trade. The prices you see are what you should expect to receive after P2PMoon’s fee has been charged, however, they are not inclusive of cryptocurrency network transaction fees.
P2PMoon reserves the right to delete offers from the marketplace at its discretion. Generally, it will delete offers if they appear to be unlawful, non-genuine, fraudulent, spam, or are otherwise incorrect.
5. Communications between parties
P2PMoon users can communicate over the P2PMoons platform.
All communication made between buyers and sellers on P2PMoon is end-to-end encrypted. No third parties, including us, have the technical ability to decipher and/or read these messages unless we are given the shared secret to do so by one party.
It is the responsibility of a user to make and keep adequate records of communications, details of transactions, and financial history to the extent that they are required to do so in their jurisdiction.
Once the shared secret used to encrypt the messages is destroyed, that conversation is gone forever and cannot be recovered.
You must not be engage in communication with other P2PMoon users which is offensive, abusive, unlawful, defamatory, indecent or inappropriate.
You acknowledge that we are unable to provide you with any other information about the identity of another P2PMoon user other than what is made available to you on our website.
6. Trades of cryptocurrency
The parties of a trade are referred to as “buyers” (those who are interested in trading local currency for cryptocurrency) and “sellers” (those who are interested in trading cryptocurrency for local currency).
When trading with a user located with the aid of P2PMoon’s services, payment instructions can only be communicated directly between the buyer and seller. We do not have any bank accounts that hold users’ funds, nor do we facilitate or escrow any local currency payments between buyers and sellers. At no point during the course of a trade does the buyers’ or sellers’ cryptocurrency enter our control, unless we direct cryptocurrency to resolve a dispute.
Ether (ETH) or ERC20 trades are conducted via the Ethereum distributed computing network, which we cannot and do not control. When a seller sends ether to a buyer during the course of a trade, the seller transfers ether directly to an escrow smart contract on the Ethereum blockchain. P2PMoon cannot access ether held in escrow without explicit digital permission from the buyer or seller. It is impossible for us to have ether directed to anyone other than the seller or the buyer as per the code of the smart contract.
Bitcoin (BTC) trades are conducted via the Bitcoin protocol and network, which we cannot and do not control. When a seller sends BTC to a buyer during the course of a trade, the seller transfers BTC directly to an escrow script on the public Bitcoin blockchain. The escrow transaction output can only be redeemed by the buyer or seller. P2PMoon cannot access BTC held in escrow as per the code of the Bitcoin escrow script.
Litecoin, Dash, and Bitcoin Cash and all other non ETH trades operate in the same or similar manner as Bitcoin trades, except that they are operated on their respective public blockchains or blockchain forks.
More information about the technical workings of our non-custodial cryptocurrency escrow mechanisms can be found on our website.
7. Terms of the transaction
Once cryptocurrency is in escrow, the trade should proceed in accordance with the terms agreed between the buyer and the seller. This will ordinarily require:
- person trading local currency should make payment;
- once local currency payment is received in full and in cleared funds, the cryptocurrency held in escrow must be released.
If the buyer does not represent that local currency payment is made within a defined time period, the escrow may be cancelled by the seller. The buyer may cancel the escrow at any time.
If you are the party selling cryptocurrency, it’s important to make sure you and the other party have agreed all relevant terms of the trade before you fund the escrow, as you will be charged a fee by the relevant cryptocurrency network to fund an escrow even if it ends up being cancelled.
Sales between buyers and sellers are subject to:
- the payment of P2PMoon’s fee;
- the process for resolving disputes set out in these Service Terms; and
- the seller’s terms and conditions, or any other terms and conditions agreed between the buyer and the seller. In the event of inconsistency, the higher in the list of terms prevails.
You must comply with all reasonable security requirements prescribed from time to time by P2PMoon.
A dispute may arise about a trade if:
- local currency payment isn’t received and the cryptocurrency remains in escrow; or
- local currency is only part paid.
The contract of sale is between the seller and the buyer. Accordingly, the parties are required to first use best efforts to resolve the dispute between themselves.
If the parties have not resolved the dispute and have not agreed on an alternative dispute resolution process, either party may refer the dispute to P2PMoon.
The party referring the dispute to P2PMoon must give P2PMoon access to a digital signature that allows P2PMoon limited control of the escrow and the key material used to encrypt communications between the buyer and the seller. Both parties agree to give P2PMoon access to their conversation history and all other information required by P2PMoon to resolve the dispute, including evidence of payment. P2PMoon will review the evidence and it will direct the cryptocurrency to the party who in P2PMoon’s reasonable opinion is entitled to own it under the terms of sale.
Parties must respond to P2PMoon’s requests for information promptly (and at least within 24 hours). If a party does not respond to a request within that timeframe, P2PMoon may resolve the escrow in favour of the other party to the dispute.
The parties agree that except in cases of gross negligence or fraud, P2PMoon decision is final and binding on the parties and there is no appeal from such decision.
P2PMoon reserves the right to refuse to resolve a dispute where P2PMoon, in its sole discretion, considers that:
- the issue is best resolved through other methods;
- one or both parties have not provided all required or requested information;
- the ownership of cryptocurrency is not clear from the information provided;
- the contract between the parties is unlawful;
- a party is acting unlawfully or fraudulently;
- P2PMoon has a legal obligation to do so, or
- directing cryptocurrency to a party would cause P2PMoon to breach any law.
Where P2PMoon exercises its right to refuse to resolve a dispute, P2PMoon will notify both parties of this. Either party may then apply for a court order resolving the dispute.
If a party provides a copy of a court order to P2PMoon along with access to a digital signature that allows P2PMoon limited control of the escrow, P2PMoon will resolve the escrow in accordance with the court order.
This process for resolving disputes is incorporated in all contracts between buyers and sellers arranged through P2PMoon.
10. P2PMoon fees
For transactions concluded through the P2PMoon smart contract service, P2PMoon charges a 1% fee for the Seller (the person who placed the offer listing) The fee is charged in PPM cryptocurrency.
This term is incorporated in all contracts between buyers and sellers arranged through P2PMoon and using the P2PMoon’s smart contract. The term is incorporated into the Contract and is unable to be changed.
11. Other taxes
By using P2PMoon, you are responsible for determining what taxes apply to any trades you conduct with other P2PMoon users. You must pay for all taxes applicable to all trades in which you participate.
You indemnify P2PMoon for any claim, loss or damage arising from your failure to pay applicable taxes.
12. Suspending and deleting your account
We may suspend or delete your account if:
- we consider that you are using the P2PMoon platform to scam other users or for any other unlawful purpose;
- we receive reports that you are communicating offensive, abusive, unlawful, defamatory, indecent or inappropriate messages to other users;
- we know or suspect that you have completed the residency declaration dishonestly;
- P2PMoon is required by law to do so;
- there is any change in law that adversely affects P2PMoon’s operating model or would make it unlawful to continue the service without materially changing the P2PMoon platform or regulatory licence required to operate; and
- for any other reason in our absolute discretion.
Once your account is deleted, we destroy any information we hold in relation to it after any legal requirement imposed on P2PMoon to retain it has expired.
After suspension of your account, you are entitled to limited access for the purpose of managing existing trades however you may not open new trades or post to the marketplace.
13. Compliance with laws
You are solely responsible for ensuring compliance with your local laws.
You warrant that will use the website and the services in compliance with all applicable federal and state laws and regulations governing your local laws.
14. Risks associated with dealing with other users
Cryptocurrency transfers are irreversible. If you release or send cryptocurrency to somebody else, it is generally not possible for P2PMoon, nor yourself, to recover the funds. This also applies to sending cryptocurrency to an incorrect address. You transfer any cryptocurrency at your own risk.
If someone gains access to your account and uses your wallet, we will have no way to recover your funds.
We strongly recommend that if you do not have a strong understanding of the underlying “blockchain” technology that supports cryptocurrencies such as Ethereum and Bitcoin, you do not use our services. Cryptocurrencies can be subject to extreme price volatility. You should consider your financial circumstances and tolerance to risk before acquiring and trading in cryptocurrencies.
15. Disclaimer of warranties
P2PMoon does not facilitate or provide brokerage, exchange, payment, escrow, remittance or merchant services.
P2PMoon is only an introductory and information service, and, to the maximum extent permissible by law, is not responsible for any actions of its users including, without limitation, representations by any users regarding funds (cryptocurrency or currency) having been transferred or any ownership of cryptocurrency or funds.
To the maximum extent permitted by law, P2PMoon does not guarantee the quality or fitness for purpose of its services. P2PMoon is provided on an “as is” and “as available” basis and you agree to use it at your sole risk. While we strive to make the services available to you at all times, we do not make any representations as to the availability of the services, or that your access or use of the website will be uninterrupted or timely. There may be delays, failures, errors, omissions or loss of transmitted information.
We make no warranties, claims or guarantees related to any of our users, including but not limited to:
- the merchantability or fitness of the user;
- the identity of the user;
- the location of the user;
- the reliability and timeliness of the user;
- the accuracy of any information the user presents; or
- the accuracy of any information we provide about the user.
To the maximum extent permitted by law, we make no guarantees to the safety, reliability, availability or longevity of any of the data we collect or store. We strongly recommend that you keep a back up copy of your private keys so, if required, you can interact with the Contract independently of P2PMoon.
17. Limitation of liability and indemnity
You indemnify P2PMoon and hold P2PMoon harmless against all loss, claims, actions, liability, damage, costs (including legal fees on a solicitor and client basis), expenses and penalties arising directly or indirectly from any:
- breach by you of these Service Terms;
- unauthorised use of your P2PMoon account;
- act or omission (including any negligence, unlawful conduct, wilful misconduct or fraud) by you in relation to your use of P2PMoon’s services;
- third party claim against us in relation to your use of P2PMoon’s services;
- any action taken by P2PMoon at your request in respect of your account, trade or dispute;
- any inaction or delay on your part in respect of any dispute, including any failure by you to respond to a request for information by us within the time required under clause 9 (Disputes);
- any failure by you to comply with any reasonable recommendation made by P2PMoon;
- infringement of intellectual property rights by you; and
- any actions or inactions of third party service providers.
Except in the case of gross negligence or fraud in resulting a dispute, and to the fullest extent permitted by law, P2PMoon is not liable for:
- any breach of these Service Terms; or
- any act or omission (including any negligent act or omission) of P2PMoon in connection with these Service Terms or any services supplied by P2PMoon.
Under no circumstances, including in cases of gross negligence or fraud, are we liable to you for any consequential loss suffered by you (including any loss of profit).
19. Applicable law and language
These Service Terms are governed by the laws where the user resides.
20. Changes to these terms
We reserve the right, at our sole discretion, to update, change or replace any part of these Service Terms by posting updates and changes to our website. If there is a change that has a material adverse impact on you, we will notify you by emailing you and providing 30 days’ notice. If you do not agree to the changes, your only remedy is to discontinue using the services.
It is your responsibility to check our website periodically for changes. Your continued use of or access to our website or the services following the posting of any changes to these Service Terms constitutes acceptance of those changes.
These Service Terms were last updated in May 2018.
22. Terms that survive account closure
The following terms in these Service Terms continue to apply after the closure of your account:
- Clause 9 – Disputes;
- Clause 10 – P2PMoon fees; and
- Clause 17 – Limitation of liability and indemnity.
23. Entire understanding
These Service Terms contain the entire understanding between the parties as to the subject matter of these terms.
Please send any questions, comments, issues, or general correspondence via email to firstname.lastname@example.org.
Law enforcement can also direct inquiries via email to email@example.com.