P2P Trading Rules and Guidelines

P2P Trading Rules

Basic Principles of P2P Trading：

1. These rules shall come into effect from the date of publication and may be amended or supplemented from time to time. Any revised or updated rules shall take effect upon announcement.

2. If you do not agree to these rules or any subsequent amendments or updates, you shall immediately cease using the Platform services.

3. If you continue to use the Platform services, it shall be deemed that you have fully understood and accepted these rules and any subsequent amendments or updates, and agree to be bound by them.

Principles to Be Followed by Buyers：

After an order is created, the buyer shall:

1. Complete the payment within the specified payment time and then click “I Have Paid”;

2. Use a payment method registered under the buyer’s real name, and complete payment using the exact order amount and the designated receiving account with real-time settlement;

3. Obtain prior consent from the seller if using a non-real-time settlement method;

4. Not include remarks such as “digital currency,” “BTC,” “Bitcoin,” “Hotcoin,” or similar terms in the payment;

Principles to Be Followed by Sellers：

After an order is created, the seller shall:

1. Provide a receiving account verified by the Platform;

2. Release the digital assets within the specified time after receiving full payment from the buyer;

3. Not request the buyer or customer support to cancel the order without the buyer’s consent;

4. Not raise objections to the order price after the order is created without the buyer’s consent;

Note: Non-real-time settlement methods currently include transfers from Alipay to bank accounts, WeChat Pay to bank accounts, and single transfers exceeding 50,000 (CNY) between 17:00 and 9:00 the next day. The specific types of non-real-time settlement methods may be adjusted in accordance with changes in payment channels.

Users Must Comply with AML Principles：

1. Users shall comply with the Hotcoin P2P Platform Anti-Money Laundering and Counter-Terrorist Financing User Guidelines and strictly fulfill the corresponding obligations.

2. Users shall strictly adhere to the Platform’s real-name verification requirements for user identity and accounts, and ensure that all accounts displayed on the Platform are legally registered and used by the user.

3. When a user triggers the Platform’s AML risk control alerts, the user shall actively cooperate with further AML verification procedures and provide relevant supporting materials as required (specific measures shall be subject to the Platform’s risk control requirements at the time).

Buyer Abnormal Behaviors

Handling Measures

1、The buyer cancels the order after it is created.

If this occurs 3 times within the same day, the system will restrict the buyer’s purchasing function.

2、The order is automatically canceled due to payment timeout after creation.

If this occurs 3 times within the same day, the system will restrict the buyer’s purchasing function.

3、The buyer clicks “I Have Paid” without making payment.

The seller has the right to request cancellation of the order. If the buyer receives 2 complaints within the same day, the system will restrict certain account functions. If the disputed amount of a single complaint exceeds CNY 50,000, the system will directly restrict the buyer’s account for 48 hours.

4、Payment is not made to the receiving account specified on the seller’s order details page.

The seller has the right to cancel the order. Digital assets will be returned to the seller, and the buyer shall bear the risk of incorrect transfer.

5、Payment is not made to the account provided by the seller in the order chat that matches the verified identity.

The seller has the right to cancel the order. Digital assets will be returned to the seller, and the buyer shall bear the risk of incorrect transfer.

6、The buyer clicks “I Have Paid” before making payment and then proceeds to pay.

The seller may choose to proceed with the transaction or cancel the order after refund:
1）If proceeding, the assets must be released within 2 minutes after full payment is received;
2）If canceling, the refund must be completed within 2 hours after the dispute is initiated, and the digital assets will be returned to the seller.

7、Payment is made using a payment account that does not match the verified identity of the platform account.

The seller has the right to reject the transaction and may complete the refund within 24 hours after receiving the payment. Digital assets will be returned to the seller. Payment made using a corporate account (regardless of whether the legal representative matches the verified identity) is considered non-real-name payment. If the buyer is reported twice due to such behavior, the system will permanently restrict the buyer’s purchasing function.

8、Payment is completed within the specified time, but the order is canceled.
（1）The buyer has completed full payment, but the order is canceled by the buyer or automatically canceled due to timeout;
（2）The buyer has partially completed payment, but the order is canceled by the buyer or automatically canceled due to timeout.

The seller may choose to proceed with the transaction or cancel the order after refund:

1、If the seller chooses to proceed:

— If the seller is a verified merchant and the order amount ≤ 50,000, please use “Reopen Order and Release” to complete the asset release;
— If the order amount > 50,000, the seller must complete asset release within 20 minutes after reopening the order on the platform.

2、If the seller chooses to cancel the order:

— The seller must complete the refund within 60 minutes after receiving feedback from the platform or the buyer, and the digital assets will be returned to the seller.

9、In case of split payments, the buyer clicks “I Have Paid” before completing all transfers and then continues payment.

1）If prior communication is made with the seller and the seller agrees, the seller shall proceed with the order;
2）If no prior consent or communication is made, the seller may choose to proceed or cancel after refund:
— If proceeding, the seller must release assets within 5 minutes after receiving all payments;
— If canceling, 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 shall proceed, and the seller must refund the excess amount within 30 minutes after receiving payment;
2）If the payment amount is less than the order amount, the seller may choose to proceed or cancel after refund:
— If proceeding, the seller may complete the transaction based on the actual order amount;
— If canceling, the seller must complete the refund within 30 minutes after receiving payment, and the digital assets will be returned to the seller.

11、The buyer clicks “I Have Paid,” but the seller has not received payment within 1 hour.

1）Unless the payment method has been agreed upon in advance, the seller may choose to proceed or cancel after refund:
— If proceeding, the seller must release assets within 2 minutes after receiving payment;
— If canceling, the seller must complete the refund within 30 minutes after receiving payment, and the digital assets will be returned to the seller.

2）If the seller is the advertiser and cannot contact the buyer within 10 minutes after filing an appeal, and it is verified that payment has not been received, customer support will prioritize canceling the order within the guaranteed asset scope.

12、After payment is received, the seller cannot verify the real-name information of the receiving account.

1）If it is verified that the buyer’s payment account matches the platform’s verified account and payment is completed within the specified time, the order shall proceed normally;

2）If the buyer’s payment account does not match the verified account, it shall be handled according to Rule 7 above.

13、Payment is made using a non-real-time settlement method without the seller’s consent.

The seller may choose to proceed or cancel after refund:
— If proceeding, the seller must release assets within 2 minutes after receiving payment;
— If canceling, the seller must complete the refund within 30 minutes after receiving payment, and the digital assets will be returned to the seller.

14、During holidays or between 17:00 and 9:00 on working days, transfers exceeding 50,000 are not split, resulting in the seller being unable to receive payment within 1 hour.

The seller may choose to proceed or cancel after refund:
— If proceeding, the seller must release assets within 2 minutes after receiving payment;
— If canceling, the seller must complete the refund within 30 minutes after receiving payment, and the digital assets will be returned to the seller.

15、The buyer’s payment causes abnormalities in the seller’s receiving account.

1）If the buyer cannot provide proof of account normality, the seller must complete the refund within 24 hours after the receiving account returns to normal, and the platform will cancel the order;
2）If the buyer can provide proof and the account is verified as normal, the order shall proceed and the digital assets shall be released to the buyer.

For example: If the seller is a VIP user, within the guaranteed asset scope, the digital assets will be returned to the seller, and the seller must complete the refund within 24 hours after the receiving account returns to normal.

16、Payment remarks include terms such as “digital currency,” “BTC,” “Bitcoin,” or “Hotcoin.”

The seller may choose to proceed or cancel after refund:

1）If proceeding, the seller must release assets within 2 minutes after receiving payment;
2）If canceling, the order shall be canceled, digital assets will be returned to the seller, and the seller must complete the refund within 30 minutes after receiving payment. If the seller’s account is frozen as a result, it shall be handled according to Rule 15 above.

　Note: If the seller fails to complete refund or asset release within the specified time as required by these rules, the system will restrict certain functions of the seller’s account.

Seller Abnormal Behaviors

Handling Measures

1、The seller raises objections to the order price after the order is created.

Unless the buyer agrees to renegotiate the order price, the order shall proceed normally, and the seller shall release the assets within the specified time.

2、The receiving account provided by the seller is abnormal.

The buyer has the right to proceed with the transaction or cancel the order.
— If the buyer chooses to proceed and full payment has been completed within the specified time, the seller shall release the assets within the required time after receiving payment;
— If the buyer chooses to cancel the order, the seller shall complete the refund, and the digital assets will be returned to the seller.

3、The seller fails to provide a valid receiving method in time, resulting in the buyer being unable to complete payment and the order being canceled.

4、The buyer’s payment account information does not match the platform’s verified identity, and the seller does not refuse the transaction.

1）Any risks arising from this shall be borne by the seller;
2）If complaints arise from such cases, the system will restrict certain functions of the seller’s account.

5、The buyer marks “I Have Paid” after completing full payment, but the seller fails to release the assets within 20 minutes after receiving full payment.

The buyer may choose to proceed with the transaction or request a refund and cancel the order.
— If the buyer chooses to proceed, the dispute officer will determine that the assets belong to the buyer;
— If the buyer requests a refund and cancellation, the seller must complete the refund within 30 minutes.

Risk Control Triggered Abnormalities

Handling Measures

1、When a user is flagged as abnormal by the risk control system and explicitly refuses or fails to cooperate with further AML verification required by the platform.

The platform has the right to directly determine the account as abnormal and take measures including but not limited to upgrading the user’s risk level and freezing the user’s account and related accounts until the user provides supporting materials that pass the platform’s review.

2、When the platform verifies that the user is suspected of fraud (including attempted fraud), or transfers assets to high-risk platforms (including but not limited to P2P broker platforms, online gambling platforms, suspected fraud or money laundering platforms, or other platforms with weak risk controls), or engages in other high-risk asset transfer activities.

Risk Warning: Any promotion claiming an association between this platform and such platforms is false. Please remain vigilant to avoid fraud and unnecessary financial losses.

The platform reserves the right to freeze or restrict such users and their related accounts, including restricting P2P trading, withdrawals, or even disabling all account functions.

3、Account not used by the registered user or used for illegal proxy trading.
If the platform verifies that the account has been sold, lent, or rented to others, or used to conduct illegal purchases on behalf of others:
Risk Warning: Please protect your personal information to prevent misuse for criminal activities.

The platform may impose measures including but not limited to temporarily or permanently restricting P2P trading, delaying withdrawals, restricting withdrawals, or freezing the account and related accounts.

4、Testing payment accounts using other users on the platform: If a user sends small payments to other users without an actual order and cannot reasonably explain the behavior.

The platform may impose measures including temporary or permanent restrictions on P2P trading, withdrawal restrictions, or account freezing.

5、Receiving or introducing illicit digital assets or funds: If a user knowingly or should reasonably know that assets or funds received from other platforms or groups are illicit (e.g., “tainted coins” or illegal funds), but still transfers such assets into other users’ accounts on the platform.

The platform will permanently restrict all functions of such user accounts and related accounts.

6、Users identified as involved in money laundering: If the user is detected or verified to have directly participated in or assisted in money laundering activities.

The platform will permanently restrict all functions of such user accounts and related accounts.

7、Judicial Freeze: If a user’s account is frozen by a judicial authority.

The platform will strictly freeze the account in accordance with official legal documentation. Upon expiration, continued freezing requires renewed documentation. During the freeze, requests to unfreeze through the platform will be invalid, and users should contact the relevant authority.

8、Judicial Investigation Request: If a judicial authority requests access to user account data, including but not limited to investigations or inquiries.

The platform may restrict certain functions of the user’s account and related accounts based on the situation.