Terms and Conditions

Please read these terms carefully before using our cryptocurrency trading and bill payment services.

Last Updated: September 1, 2025

Table of Contents

1. Acceptance of Terms

By accessing, downloading, or using the Adswift mobile application ("App") and our services, you ("User," "you," or "your") agree to be bound by these Terms and Conditions ("Terms"). These Terms constitute a legally binding agreement between you and Adswift Technologies Limited ("Adswift," "we," "us," or "our").

Important: If you do not agree to these Terms, you must not access or use our services. Your continued use of the App constitutes acceptance of any updates to these Terms.

These Terms apply to all users of our services, including browsers, vendors, customers, merchants, and contributors of content.

2. Our Services

Adswift provides the following services through our mobile application:

2.1 Cryptocurrency Exchange Services

  • Buying and selling of cryptocurrencies including Bitcoin, Ethereum, and other supported digital assets
  • Cryptocurrency-to-Naira conversion services
  • Real-time market data and price information
  • Secure cryptocurrency wallet services

2.2 Bill Payment Services

  • Airtime and data bundle purchases for all Nigerian networks
  • Electricity bill payments for all distribution companies
  • Cable TV subscription renewals (DSTV, GOTV, StarTimes, etc.)
  • Internet subscription payments
  • Other utility bill payment services

2.3 Additional Services

  • 24/7 customer support
  • Transaction history and reporting
  • Account management tools
  • Security features including two-factor authentication

3. Eligibility and Account Registration

3.1 Eligibility Requirements

To use our services, you must:

  • Be at least 18 years of age
  • Be a legal resident of Nigeria or eligible jurisdiction
  • Have the legal capacity to enter into binding contracts
  • Provide accurate and complete registration information
  • Not be restricted from using financial services under applicable laws

3.2 Account Registration

  • You may only create one account per person
  • You must provide accurate, current, and complete information
  • You are responsible for maintaining account security
  • You must promptly update any changes to your information
Warning: Providing false information or creating multiple accounts may result in immediate account suspension and legal action.

4. Identity Verification (KYC)

In compliance with Nigerian regulatory requirements and international AML standards, all users must complete our Know Your Customer (KYC) process.

4.1 Required Documentation

  • Government-issued photo identification (National ID, International Passport, or Driver's License)
  • Proof of address (utility bill, bank statement, or government correspondence)
  • Bank Verification Number (BVN)
  • Selfie verification
  • Additional documentation as may be required

4.2 Verification Process

  • Verification typically takes 24-48 hours
  • We reserve the right to request additional documentation
  • Incomplete or invalid documentation will delay verification
  • Verification is required before accessing full platform features

5. Cryptocurrency Trading

5.1 Trading Terms

  • All cryptocurrency trades are final and irreversible
  • Exchange rates are determined in real-time based on market conditions
  • We reserve the right to set minimum and maximum transaction limits
  • Trading may be suspended during periods of high volatility or technical maintenance

5.2 Wallet Services

  • We provide custodial wallet services for supported cryptocurrencies
  • You acknowledge that we hold legal title to cryptocurrencies in our custody
  • Withdrawal requests are processed within 24 hours subject to security checks
  • We reserve the right to freeze funds pending investigation of suspicious activity
Risk Warning: Cryptocurrency trading involves substantial risk of loss. Past performance is not indicative of future results. Only trade with funds you can afford to lose.

6. Bill Payment Services

6.1 Payment Processing

  • Bill payments are processed in real-time or within minutes
  • You are responsible for providing accurate beneficiary information
  • Failed payments due to incorrect information are non-refundable
  • We partner with licensed bill payment processors

6.2 Service Availability

  • Services may be temporarily unavailable due to maintenance or partner issues
  • We will notify users of scheduled maintenance when possible
  • Refunds for service outages will be considered on a case-by-case basis

7. Fees and Charges

7.1 Transaction Fees

  • Cryptocurrency trading fees range from 0.5% to 2% depending on transaction volume
  • Bill payment fees are clearly displayed before transaction confirmation
  • Network fees for cryptocurrency withdrawals are charged separately
  • Premium features may incur additional charges

7.2 Fee Changes

We reserve the right to modify our fee structure with 30 days' notice to users. Continued use of our services after fee changes constitutes acceptance of the new fee structure.

Transparency: All fees are clearly displayed in the app before you confirm any transaction. No hidden charges.

8. User Responsibilities

8.1 Account Security

  • Maintain the confidentiality of your login credentials
  • Enable two-factor authentication
  • Promptly report any unauthorized account access
  • Use strong, unique passwords
  • Keep your app updated to the latest version

8.2 Compliance

  • Comply with all applicable laws and regulations
  • Report any suspicious activities on your account
  • Provide accurate information for tax reporting purposes
  • Respect intellectual property rights

8.3 Prohibited Use

You agree not to use our services for any unlawful purpose or in any way that could damage, disable, or impair our services.

9. Prohibited Activities

The following activities are strictly prohibited:

9.1 Illegal Activities

  • Money laundering or terrorist financing
  • Fraud or any deceptive practices
  • Tax evasion or other illegal financial activities
  • Violating any applicable laws or regulations

9.2 Platform Abuse

  • Creating multiple accounts or using false identities
  • Attempting to manipulate prices or engage in market manipulation
  • Reverse engineering or attempting to hack our systems
  • Distributing malware or engaging in cyberattacks

9.3 Commercial Restrictions

  • Using our services for commercial purposes without authorization
  • Reselling or redistributing our services
  • Operating competing services using our platform

10. Risk Disclosure

Important Risk Warning: Cryptocurrency trading involves substantial risk and may not be suitable for all users.

10.1 Market Risks

  • Cryptocurrency prices are highly volatile and unpredictable
  • You may lose part or all of your investment
  • Past performance does not guarantee future results
  • Market conditions can change rapidly without notice

10.2 Technology Risks

  • Technical failures may affect trading operations
  • Internet connectivity issues may impact service access
  • Cybersecurity threats are inherent to digital platforms
  • Software bugs or system errors may occur

10.3 Regulatory Risks

  • Cryptocurrency regulations are evolving and may change
  • Government actions may affect cryptocurrency markets
  • Legal status of cryptocurrencies may vary by jurisdiction

11. Limitation of Liability

11.1 Disclaimer of Warranties

Our services are provided "as is" and "as available" without any warranties of any kind, either express or implied. We disclaim all warranties, including but not limited to merchantability, fitness for a particular purpose, and non-infringement.

11.2 Liability Limitations

  • We shall not be liable for any indirect, incidental, or consequential damages
  • Our total liability shall not exceed the amount of fees paid by you in the 12 months preceding the claim
  • We are not responsible for losses due to market volatility or user error
  • Force majeure events are excluded from our liability

11.3 Third-Party Services

We are not responsible for the performance, availability, or content of third-party services integrated with our platform, including payment processors, cryptocurrency networks, and utility service providers.

12. Account Termination

12.1 User Termination

  • You may close your account at any time by contacting customer support
  • All pending transactions must be completed before account closure
  • Remaining balances will be returned according to our withdrawal procedures

12.2 Termination by Adswift

We reserve the right to suspend or terminate accounts for:

  • Violation of these Terms or applicable laws
  • Suspected fraudulent or illegal activity
  • Failure to complete KYC requirements
  • Extended periods of account inactivity
  • Risk management or regulatory compliance reasons

12.3 Effects of Termination

  • Access to services will be immediately revoked
  • Outstanding obligations will remain in effect
  • We will return legitimate funds subject to legal requirements
  • Certain provisions of these Terms will survive termination

7. Detailed Fee Structure

7.1 Cryptocurrency Trading Fees

  • Maker Fees: 1.5% for orders that add liquidity to the order book
  • Taker Fees: 2.0% for orders that remove liquidity from the order book
  • Instant Buy/Sell: 2.5% for instant cryptocurrency purchases and sales
  • Peer-to-Peer Transactions: 1.0% flat fee for P2P trades

7.1.1 Volume-Based Discounts

We offer reduced fees for high-volume traders based on their 30-day trading volume:

30-Day Trading Volume (NGN) Maker Fee Taker Fee
0 - 500,000 1.5% 2.0%
500,001 - 2,000,000 1.2% 1.8%
2,000,001 - 5,000,000 1.0% 1.5%
5,000,001 - 10,000,000 0.8% 1.2%
10,000,001+ 0.5% 1.0%

7.2 Bill Payment Fees

  • Airtime Top-up: 2.0% of transaction value (minimum ₦10)
  • Data Bundle Purchase: 1.5% of transaction value (minimum ₦10)
  • Electricity Bills: ₦50 flat fee per transaction
  • Cable TV Subscription: ₦100 flat fee per transaction
  • Internet Bills: 1.0% of transaction value (minimum ₦50)

7.3 Withdrawal and Deposit Fees

7.3.1 Cryptocurrency Deposits

  • Bitcoin (BTC): Free (network fees apply)
  • Ethereum (ETH): Free (network fees apply)
  • USDT (ERC-20): Free (network fees apply)
  • USDT (TRC-20): Free (network fees apply)
  • Other supported cryptocurrencies: Free (network fees apply)

7.3.2 Cryptocurrency Withdrawals

Cryptocurrency withdrawal fees vary based on network conditions and are calculated dynamically to cover network transaction costs.

Cryptocurrency Withdrawal Fee
Bitcoin (BTC) 0.0005 BTC
Ethereum (ETH) 0.005 ETH
USDT (ERC-20) 10 USDT
USDT (TRC-20) 1 USDT
BNB (BEP-20) 0.0015 BNB

7.3.3 Fiat Currency Deposits

  • Bank Transfer: Free (bank charges may apply)
  • Debit Card: 1.5% of deposit amount
  • USSD: ₦25 flat fee

7.3.4 Fiat Currency Withdrawals

  • Bank Transfer: ₦25 for amounts above ₦5,000 (free for smaller amounts)
  • Instant Withdrawal: 1.0% of withdrawal amount (minimum ₦50)

7.4 Other Service Fees

  • Currency Conversion: 0.5% fee for conversions between different currencies
  • Inactivity Fee: ₦500 monthly fee after 12 months of account inactivity
  • Chargeback Fee: ₦2,500 for disputed transactions
  • Account Reactivation: ₦1,000 for reactivating suspended accounts

Transparency Notice

All fees are clearly displayed before you confirm any transaction. You will always have the opportunity to review and accept applicable fees before completing a transaction.

Important Notes

  • Fees are subject to change with 30 days' notice to users
  • Third-party fees (bank charges, network fees) may apply in addition to our fees
  • Special promotions may temporarily reduce or eliminate certain fees
  • Enterprise clients may qualify for custom fee structures

7.5 Fee Calculation Examples

Here are some examples of how fees are calculated:

Example 1: Cryptocurrency Trade

If you buy ₦100,000 worth of Bitcoin as a taker:

Fee = ₦100,000 × 2.0% = ₦2,000

You will receive ₦98,000 worth of Bitcoin

Example 2: Airtime Purchase

If you purchase ₦5,000 airtime:

Fee = ₦5,000 × 2.0% = ₦100 (but minimum fee applies)

Since ₦100 > ₦10 minimum, you pay ₦100 fee

₦5,000 - ₦100 = ₦4,900 airtime credited

Example 3: Bank Withdrawal

If you withdraw ₦20,000 to your bank account:

Fee = ₦25 (flat fee for amounts above ₦5,000)

You receive ₦19,975 in your bank account