Paxful Stablecoin Terms of Service

Effective date: April 2, 2020

PLEASE READ THIS AGREEMENT CAREFULLY. By using the Paxful Stablecoin service, you agree to be bound by these supplemental "Paxful Stablecoin Terms of Service" and you acknowledge and agree that you have carefully and thoroughly read, understood, and accepted all of the terms and conditions contained herein, which is in addition to the Paxful Terms of Service (the "Agreement"). Any capitalized terms used but not defined below have the meaning prescribed in the Agreement. Should any conflict arise between the Agreement and the Paxful Stablecoin Terms of Service during or related to your use of the Paxful Stablecoin service, the latter shall control.

About Paxful Stablecoin

The Paxful Stablecoin service is a referral mechanism that allows you, a qualifying Paxful user, to enter into a peer-to-peer transaction with a pre-selected third party company (the "Stablecoin Counterparty"), chosen by Paxful, for the exchange of your Bitcoin for a USD-equivalent amount of stablecoins, to be held by the Stablecoin Counterparty for your benefit. Through this model, Paxful Stablecoin allows you to exit your Bitcoin position into the selected stablecoin.

Referral Mechanism

The Paxful Stablecoin service is a limited purpose referral mechanism available on the Paxful platform. Upon indicating your interest in performing a Paxful Stablecoin transaction, Paxful will refer you to the Stablecoin Counterparty for the consummation of the transaction. You must then follow the provided prompts in order to submit your offer terms to the Stablecoin Counterparty. Should the Stablecoin Counterparty accept your offer terms, the transaction will be consummated between you and the Stablecoin Counterparty. As with the standard transactions conducted on its marketplace, Paxful will have no involvement, control, power, discretion, or authority in the Paxful Stablecoin transactions entered into or attempted between you and the Stablecoin Counterparty. Paxful shall neither custody any stablecoins nor advise or instruct any Paxful user to obtain such stablecoins.

The Stablecoin Counterparty may have their own terms and conditions for the Paxful Stablecoin service transactions, and the Paxful Stablecoin service may vary in exchange rate, speed of exchange, and other terms and conditions imposed by the Stablecoin Counterparty (the "Stablecoin Counterparty Terms"). By entering into a transaction with the Stablecoin Counterparty you agree to be bound by the Stablecoin Counterparty Terms. The Stablecoin Counterparty Terms are valid in all cases except when they contradict or violate the Agreement, these Paxful Stablecoin Terms of Service, are illegal, are unreasonable or otherwise difficult to comply with (as determined in Paxful’s sole and absolute discretion), or if you and the Stablecoin Counterparty consent to alter the Stablecoin Counterparty Terms. IT IS YOUR RESPONSIBILITY TO CAREFULLY READ THE STABLECOIN COUNTERPARTY TERMS AND FOLLOW THEM EXACTLY. IF YOU DO NOT FOLLOW THE STABLECOIN COUNTERPARTY TERMS, YOUR TRANSACTION MAY BE DENIED. NEVER ENTER INTO A PAXFUL STABLECOIN SERVICE TRANSACTION UNLESS YOU HAVE FOLLOWED ALL TERMS AND CONDITIONS LISTED. IF YOU FAIL TO FOLLOW THE TERMS AND CONDITIONS, PAXFUL MAY NOT BE ABLE TO ASSIST YOU IN A DISPUTE PROCESS TO RECOVER YOUR FUNDS.

Fees

Paxful's Fees shall apply to your use of the Paxful Stablecoin service. Paxful will not charge you a fee for your transactions with the Stablecoin Counterparty where you are selling your stablecoin position back into Bitcoin in your Paxful wallet.

Qualifying Accounts

The Paxful Stablecoin service has been made available only to those users that qualify for the service. In order to qualify for use of the Paxful Stablecoin service, you must verify your account and have at least USD $1.00 worth of Bitcoin in your Paxful wallet, plus any additional amount of Bitcoin required to cover any associated fees. Paxful reserves the right to prohibit or modify the Paxful Stablecoin service for any Paxful user, and the Stablecoin Counterparty may reject any transaction with any Paxful user.

NO WARRANTY, LIMITATION OF LIABILITY & ASSUMPTION OF RISK

ANG MGA SERBISYO NG PAXFUL STABLECOIN AY INILALAAN SA “HINDI NABABAGO” AT “SA MAGAGAMIT NA” BATAYAN NANG WALANG ANUMANG MGA GARANTIYA, REPRESENTASYON AT GARANTIYA, IPINAKIKITA, IPINAHIHIWATIG O AYON SA BATAS. HANGGA'T PINAHIHINTULUTAN NG NAAANGKOP NA BATAS, TUWIRANG TINATANGGIHAN NG PAXFUL ANG ANUMANG IPINAHIWATIG NA GARANTIYA NG TITULO, KAKAYAHANG MABENTA, KAANGKUPAN PARA SA PARTIKULAR NA LAYUNIN AT/O HINDI PAGLABAG. ANG PAXFUL AY HINDI NAGBIBIGAY NG ANUMANG REPRESENTASYON O GARANTIYA NA ANG PAG-ACCESS SA WEBSITE, O ALINMANG PARTE NG MGA SERBISYO, O ALINMANG MATERYALES NA NILALAMAN NITO, AY MAGPAPATULOY, HINDI NAPUPUTOL, NAPAPANAHON, O WALANG PAGKAKAMALI. WALANG PANANAGUTAN ANG PAXFUL SA ANUMANG PAGKAPUTOL O PAGKAWALA NA MAAARING MARANASAN NG USER. DITO AY TINATANGGAP MO AT SINASANGAYUNAN NA HINDI KA NAGTITIWALA SA IBA BANG PAHAYAG O PAGKAUNAWA, NASUSULAT MAN O SINASABI, MAY KINALAMAN SA PAGGAMIT MO AT PAG-ACCESS NG MGA SERBISYO AT WEBSITE. KINIKILALA MO AT TINATANGGAP ANG IBA'T IBANG PANGANIB NA NAKUHA SA PAGGAMIT NG DIGITAL CURRENCY NA HINDI NAGLILIMITA SA MGA SUMUSUNOD, KABILANG NGUNIT HINDI LIMITADO SA PAGPALYA NG HARDWARE, MGA ISYU SA SOFTWARE, PAGPALYA NG KONEKSYON NG INTERNET, MALISYOSONG SOFTWARE, PAKIKIALAM NG THIRD PARTY NA NAGDULOT NG PAGKAWALA O KAKULANGAN NG ACCESS SA ACCOUNT MO O WALLET AT IBA PANG USER DATA, PAGPALYA NG SERVER O PAGKAWALA NG DATA. TINATANGGAP MO AT KINIKILALA NA ANG PAXFUL AY WALANG PANANAGUTAN SA ANUMANG PAGPALYA NG KOMUNIKASYON, PAGKAANTALA, PAGKAKAMALI, DISTORSYON O PAGKABINBIN NA MAAARI MONG MARANASAN KAPAG GINAGAMIT ANG MGA SERBISYO, GAYUNPAMAN AY NAGING SANHI.

IN NO EVENT SHALL PAXFUL, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, EMPLOYEES, ADVISORS, CONSULTANTS OR REPRESENTATIVES, BE LIABLE (A) FOR ANY AMOUNT GREATER THAN THE VALUE OF TOTAL FEES PAID BY YOU FOR THE SERVICE THAT IS SUBJECT OF THE CAUSE OF ACTION IN THE TWELVE (12) MONTHS PRIOR TO THE LOSS ARISING OR (B) FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SITE OR THE SERVICES, OR THIS AGREEMENT, EVEN IF AN AUTHORIZED REPRESENTATIVE OF PAXFUL HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES, AND NOTWITHSTANDING THE FAILURE OF ANY AGREED OR OTHER REMEDY OF ITS ESSENTIAL PURPOSE, EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF PAXFUL'S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.