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Having detailed terms for your Bitania ads will protect you from disputes, communicate expectations for takers, and solidify your standing as a professional trader.
Clear terms eliminate uncertainty, bring efficiency to your trading, and serve as a required document for arbitration if needed.
Payment Time Requirements
Be precise about how long takers have to complete payment once a trade is initiated. Payment windows can vary from 30 minutes for instant options to 24-48 hours for bank transfers.
Consider the processing time of the payment method; online wallets are often faster than international bank transfers.
Explicitly state that you will cancel the trade if payment is not completed within the stipulated time.
Required Proof of Payment
Specify exactly what verification is required to confirm payment.
- For bank transfers: a complete screenshot showing the transaction confirmation, the taker's name, amount, and reference number.
- For online platforms: the transaction ID and a confirmation screen showing the payment.
- For cash deposits: clear pictures of the deposit slip with all relevant details visible.
Being explicit with your documentation requirements streamlines the authentication process and prevents disputes.
Expectations for Communication
Clearly state your expected response times. For example, specify if you typically respond within 30 minutes, 2 hours, or only during certain time frames in your time zone.
Likewise, you can request that takers respond within a reasonable timeframe to keep trades on track.
Inform takers that if they do not respond within your stated window, you may cancel the trade and leave appropriate feedback.
Specific Rules for Each Payment Method
Outline clear requirements for every payment method you accept.
- For bank transfers: specify acceptable banks, required reference formats (e.g., "Bitania - [Your Name] - [Trade ID]"), and whether you accept business or personal accounts.
- For online platforms: list allowed account types, geographic restrictions, and accepted currencies.
Detailing these rules ensures compatibility and prevents trades from starting with unworkable payment methods.
Conditions for Releasing Cryptocurrency
Be specific about the conditions under which you will release cryptocurrency from escrow. This is typically after you have validated the payment and all terms are satisfied.
State your confirmation criteria: how many blockchain confirmations you require, the verification steps you will perform, and the estimated timeframe for release.
This clarity reduces taker anxiety while they wait for payment validation.
Cancellation and Refund Policy
State the situations in which you will cancel trades and explain your refund policy. Common reasons include: non-payment within the allotted time, submission of false payment proof, or violation of your terms.
Clarify if a cancellation will affect the taker's feedback rating. For verified payments where a taker wishes to cancel, explain your refund process and provide an estimated timeline for the refund.
Restricted Countries and Users
If you do not trade with certain countries due to payment issues, legal concerns, or high fraud rates, list them explicitly.
You can also set reputation requirements, such as only accepting takers with a minimum number of completed trades or a positive feedback percentage.
These restrictions help you engage only with users who have proven themselves trustworthy and avoid high-risk individuals.
Updating the Terms
Reserve the right to update your terms as needed. Clearly note that updated terms apply only to new trades initiated after the change, not to existing trades.
For major modifications, it is often better to create a new advertisement rather than altering the terms of an existing one. This maintains consistency and prevents confusion for users who reviewed your original terms.