Terms of Service

  • Welcome to otc-play.com

    Please read through these Terms of Service, Acceptable Use Policy and our Privacy Policy (collectively as “Agreement”) carefully before you (“you”) start using the services. Privacy Policy includes our Cookie Policy.

    OTCPLAY is an online trading service ("Service" or "Services") for buying and selling bitcoins. As part of its Services OTCPLAY also helps resolving disputes if such should arise between buyers and sellers. OTCPLAY does not become a party to any trade or transaction concluded by its users. Users may be natural persons or legal entities.

    If you are a consumer domiciled in the European Economic Area, all mandatory statutory consumer protection laws and regulations applicable in the country of your residence apply, to the extent that those laws and regulations provide a more extensive protection than the protection set out in these Terms of Service.

  • Acceptance of the Terms

    Before using any of our Services, you must first agree to these Terms of Service and the Privacy Policy. By accessing our Services or by otherwise using them, you confirm that you agree to these Terms of Service, you agree to follow our Acceptable Use Policy and agree to be bound by them. You also agree that your personal data and electronic communications on our platform will be processed in accordance with our Privacy Policy, which are incorporated here by reference.

    Minors are not allowed to use the Services. You affirm that you are at least eighteen (18) years of age, or the age of legal majority in your jurisdiction if that is higher than eighteen (18) years of age.

    You affirm that you have the right, power, capacity and authority to lawfully enter into this Agreement.

  • Registration and User Account

    To use our Services, you must first register with us by creating a user account ("user account" or "account"). An account will only be issued once you have provided all necessary information required by us for registration and the information has been examined according to the applicable legal requirements placed upon us by the authorities. This examination and requirements include, but are not limited to, anti-money laundering and counter-terrorism regulations as well as, in the case of company accounts, the examination of the details of your business, including the beneficial owners. All the information that we request you to provide in connection with the registration must be true, accurate and complete. If we believe that the information is not true, accurate or complete, we have the right to refuse your access to the site, or any of its resources, and to deny, terminate or suspend your Account.

    A person may only have one account at the time (except in the case of legal entities). You may not use the Services or create an account on behalf of someone other than yourself. You are not allowed to sell, borrow, share or otherwise make available your account or any detail necessary to access your account to ANYONE other than yourself.

    You are responsible for maintaining adequate security and control of your username, password, authentication code or any other code or credential that you use to access the Services.

    You must not provide any misleading or fraudulent information, including, but not limited to having a non-personal phone number. Creating fake reputation information for your account, faking your country of origin or providing fraudulent identification documents is prohibited and will lead to termination or suspension of your account.

    You have the right to delete your account and to terminate this Agreement at any time. You are responsible for all the obligations which have arisen up until the termination.

    By registering and using the Services, you represent and warrant that you are in compliance with all applicable federal and state laws and regulations governing Money Service Businesses or Cryptoasset Businesses or Virtual Asset Service Providers or similar applicable regulation of the jurisdiction you are located in.

  • Company accounts

    If you wish to use our Services as a legal entity, you are required to register an account in the name of that entity as the main account for that entity ("company account"). When creating a company account, you confirm that you are duly authorized and have the legal capacity to execute this Agreement and that this Agreement is legally binding on such entity.

    After registration of the main company account, one or more other company sub-accounts may be registered for the same legal entity so that the company account and each sub-account is registered in the name of and operated by separate natural persons on behalf of the entity.

  • Identity Verification

    In order to ensure OTCPLAY remains a safe platform for all of our users, and for us to comply with mandatory legal obligations which we are subjected to, we may require you to verify your identity to access the Services we offer. Identity verification may be required when you create advertisements, pass certain trade volume limits, during trade disputes, fraud investigations, and to ensure account ownership. As part of our ID verification process we require you to provide us with your full name as well as documents and photographs that verify your identity (e.g. valid passport).

    In certain situations (e.g. due to the regulatory or legal requirements) we may require enhanced identity verification. This may include requirements to verify details or sources of funds regarding payments you have made or received during trades on OTCPLAY as well as bitcoin transactions that you have sent or received from your account.

  • Bitcoin Trading

    You can place one or more advertisements on our platform when you wish to offer to buy or sell bitcoins. We have the right to restrict the number of your advertisements for security reasons and reasons of suspected misconduct or fraudulent activity.

    Bitcoin trades ("trade" or "contact") to either buy or sell bitcoins are initiated by responding with a trade request to advertisements created by other users. With the trade request you are making a legally binding offer and agree to be bound by the terms and conditions of the trade (such as exchange rate, bitcoin amount and terms of payment) as determined by the advertiser to whom you are sending the trade request to. When sending the trade request, you may need to select from options made available in the advertisements or accept any freeform terms and conditions set out by the advertiser in the Terms of trade field and displayed on the advertisement page. The terms and conditions of the trade must be in accordance with the terms of this Agreement. In case of discrepancy, the terms of this Agreement will have precedence.

    When you are selling bitcoin it is your responsibility to check that you have received payment for the full amount, that the payment is not made by a third party to the trade without that party’s authorisation, and that it was made according to your instructions given to the buyer. After you have released a trade to the buyer it is not possible to cancel, reverse, dispute or otherwise recover or return the bitcoins to you.

    Payments made by buyers must be sent by the same person or entity who is the holder of the account or the company account unless authorised in writing by the payeer. Receiving, making, providing, or attempting to receive, make or provide payments to or from third parties is forbidden and considered a violation of this Agreement unless authorised by the third party.

    All communication relevant to the trade must happen in the trade chat on our platform in such a way that it is readily available for OTCPLAY support staff to review. Consequently, communications on our platform are not considered private communications between you and other users, but OTCPLAY is also a party to such communications, and may access and otherwise process such communications in accordance with the Privacy Policy.

    Communication that has not occurred on our platform or that has been hidden, encrypted or otherwise obstructed from view is not taken into consideration during dispute review and dispute resolution.

  • Disputing Bitcoin Trades

    When a buyer and a seller are in disagreement over a trade, either party or OTCPLAY can start a dispute ("disputed trade” or "dispute") to initiate a mediation process on the bitcoin held in escrow. Disputed trades are reviewed and resolved by OTCPLAY support staff.

    Disputes can only be started on trades that are open and marked as paid by the buyer but not yet released by the seller. Trades that are not marked as paid by the buyer, have been released by the seller, or already disputed and resolved are considered completed and cannot be disputed, reversed, or altered. OTCPLAY support has the right to re-open trades when the payment has been made but the trade has been cancelled.

    OTCPLAY does not become a guarantor of any party’s performance of a trade. Therefore, although OTCPLAY helps in resolving disputes, you assume the risk that any party with whom you trade ( “counterparty”) fails to perform in accordance with your agreement with the counterparty. By using OTCPLAY’ Services, you release OTCPLAY from any liability arising out of or related to a counterparty’s failure to perform as agreed.

    When you have placed advertisements which have not expired or you are involved in a bitcoin trade, it is important that you remain active and available at least until the trade is completed, canceled, or resolved. This means that you must be able to provide a response to a request by OTCPLAY support in a disputed trade within twenty-four (24) hours or you may be deemed as unresponsive and the dispute may be resolved against you for this reason alone.

    Dispute review
    During a dispute review OTCPLAY support may give you instructions that you are required to follow. The instructions given to you may require you to provide proof of payment, proof that you have or have not received payment (e.g. bank transaction history), additional ID verification, photo; audio; or video evidence, or any other documents deemed relevant by OTCPLAY. Failure to follow the instructions may lead to the dispute being resolved against you.

    Dispute resolution criteria
    A disputed trade is most commonly resolved by OTCPLAY support moving the escrowed bitcoin to the buyer or the seller of the disputed trade once the dispute resolution criteria are met. In rare situations where neither party fulfills the criteria, or it is in other ways unclear or not possible to determine which party has fulfilled the dispute resolution criteria, OTCPLAY may decide to resolve the dispute by splitting the escrowed bitcoin between the buyer and the seller evenly or unevenly.

    Dispute resolution criteria
    OTCPLAY can resolve a disputed trade in the favor of a bitcoin buyer when one of the following criteria are met:
    • The buyer has made the payment according to the instructions provided by the seller in the trade chat, advertisement terms of trade, or advertisement payment details and the buyer has provided sufficient proof that the payment was made according to these instructions.
    • The seller has become unresponsive
    • OTCPLAY can resolve a disputed trade in the favor of a bitcoin seller when one of the following criteria are met:

    • The buyer has not provided payment or not provided payment in full
    • The payment made by the buyer has been held/frozen/stopped by the payment provider
    • The buyer has not provided the payment according to the instructions provided to them by the seller in the trade chat, advertisement terms of trade or advertisement payment details.
    • The payment is made by an unauthorised third party to the trade
    • The buyer is not responding

    If the buyer or the seller of a disputed trade provides fraudulent information or fraudulent documents or makes false claims or otherwise tries to force a certain outcome of a disputed trade, the dispute may be immediately resolved against the user.

    Incorrect dispute resolution
    If you believe OTCPLAY has resolved a dispute you are a party of in a way which is not in accordance with these terms, you have the right to request a review. To request a review you need to notify us and specifically request a review by contacting customer support no later than 120 days after the dispute resolution has been given.

  • Limitation of Liability regarding dispute resolution

    You acknowledge that the dispute resolution is a service that we provide and which will be conducted in accordance with the terms of this Agreement. You agree and accept that we assume no responsibility for the outcome thereof and in any event our liability for dispute resolution is limited to the amount of the fee payable to us.

    In the event of an incorrect dispute resolution which is corrected in accordance with the terms of this Agreement, we assume no liability for any damage, loss, cost or inconvenience.

    Limitation, Suspension, and Termination of Your User Account
    Occasionally situations arise where we may need to limit, suspend, or terminate your account. Account limitation results in a temporary or permanent loss of access to a certain specific part or parts of our Services. Account suspension results in a temporary loss of access to most parts of our Services. Account termination results in permanent loss of access to all Services.

    As a result of limitation, suspension or termination your access to and the withdrawal of bitcoins that you have in your OTCPLAY wallet may be delayed or denied. If there are bitcoin transactions made to the wallet addresses associated with your terminated or deleted account after the termination or the deletion, OTCPLAY has no obligation to return the bitcoins and you agree that the bitcoins become the property of OTCPLAY.

    We have the right to limit, suspend, or terminate your account or access to our Services if:

    • we have a reason to believe that you have acted in violation of these Terms of Service or applicable laws or regulations or if we have a reason to believe that any content or material submitted or shared by you in or through the Services violates these Terms of Service or applicable laws or regulations or third party rights;
    • we suspect that you use the Services to engage in, attempt to engage in, or in connection with fraudulent activity, money laundering, terrorist financing or other financial crime;
    • we have not been able to verify your identity or we have reason to believe that you have supplied false, misleading or deceptive information in connection with your registration, identity verification, trades or any other use of our Services, either to us or to another user;
    • we are required to do so under any applicable law, regulation or an order issued by an authority or court;
    • we are required to do so under any applicable law, regulation or an order issued by an authority or court
    • if you use the Services in a manner which may cause the Services to be interrupted or damaged or such a way that the functionality of the Services is in any way impaired or attempt to bypass or break any security mechanism of the Services or if OTCPLAY believes in good faith that such action is reasonably necessary to protect the security of its Services or its property or brand or the security, property and rights of its users or those of third parties;
    • attempt any unauthorized access to user accounts or any part or component of the Service.

    We will give you a notice of any limitation, suspension, or termination of your account but we may, if it is reasonable to do so (for example we consider it advisable for security reasons), limit, suspend or terminate your account without prior notice to you.

    You acknowledge that our decision to limit, suspend, or terminate your account, may be based on confidential criteria that are essential to our risk management and security protocols and that we are under no obligation to disclose the details of our risk management and security procedures to you unless otherwise provided by the Privacy Policy.

    In the event that we limit, suspend or terminate your account we will lift the suspension as soon as possible once the reasons for the suspension or termination no longer exist.

  • Fees and Pricing

    There are no fees when transacting with counterparties at the price and payment method you want on OTCPLAY.