Terms of Service

Key Things to Know Before Using SWAP

By creating an account or using SWAP, you confirm that:

1. You agree to SWAP’s Terms of Use and Privacy Policy.

2. You are at least 18 years old and legally permitted to use digital asset services.

3. KYC and identity verification are required. We may request your BVN, NIN, government-issued ID, proof of address, biometric verification, source of funds and other compliance information.

4. Digital assets are high-risk and volatile. Prices may rise or fall quickly, and you may lose some or all of your funds.

5. Blockchain transactions may be irreversible. You must confirm wallet addresses, asset type, network and transaction details before submitting any transaction.

6. SWAP does not provide financial, investment, legal or tax advice. You are responsible for your own trading and transaction decisions.

7. Your account may be restricted, suspended or closed where required for security, compliance, fraud prevention, sanctions, AML/CFT, regulatory or legal reasons.

8. Your personal data will be processed for account registration, KYC, AML/CFT compliance, transaction monitoring, fraud prevention, customer support and regulatory purposes.

9. Fees, limits and charges may apply to transactions, deposits, withdrawals and other services.

10. Do not use SWAP for unlawful activity, including fraud, money laundering, terrorist financing, sanctions evasion, market manipulation or any prohibited transaction.

TERMS OF USE

Last updated: July 30, 2026.

Welcome to SWAP, a digital asset and virtual asset platform operated by SWAP Limited ("SWAP", "we", "us" or "our").

These Terms explain the rules that apply when you access or use our website, mobile application, wallet, exchange, P2P, deposit, withdrawal, trading or related services ("Services").

Please read these Terms together with our Privacy Policy, Risk Disclosure, Fees Schedule and AML/KYC Policy, which form part of these Terms.

1. Acceptance of Terms

1.1. By creating an account, clicking "Agree", accessing the Platform or using any of our Services, you agree to be bound by these Terms and our Privacy Policy.

1.2. If you do not agree, please do not use the Platform or the Services.

2. Eligibility

2.1. You may use the Platform only if you:

a. are at least 18 years old or the legal age of majority in your jurisdiction;

b. have legal capacity to enter into a binding agreement;

c. are not prohibited from using the Services under any applicable law, sanctions, AML/CFT or regulatory restriction;

d. provide accurate registration and verification information; and

e. comply with these Terms and all applicable laws.

2.2. We may refuse registration, suspend or close an account where required by law, regulation, risk management or our internal compliance policies.

3. Account Security

3.1. You are responsible for keeping your login details, password, PIN, device and authentication credentials secure.

3.2. You are responsible for all activity carried out through your account unless the activity resulted from our proven fault.

3.3. You must notify us immediately if you suspect unauthorised access, fraud, compromise of your account or any suspicious transaction.

4. KYC, AML and Verification

4.1. To use our Services, you must provide information and documents required for identity verification, KYC, AML/CFT, sanctions screening and transaction monitoring.

4.2. This may include your name, address, phone number, email, BVN, NIN, government-issued ID, proof of address, biometric verification, source of funds, source of wealth, corporate documents and beneficial ownership information.

4.3. We may request further information at any time, especially where your activity, transaction pattern or risk profile requires enhanced due diligence.

4.4. If you provide false, incomplete or misleading information, we may refuse service, suspend or close your account and report to competent authorities where required by law.

5. Our Services

5.1. SWAP may provide digital asset services, including supported digital asset transactions, wallet services, deposits, withdrawals, exchange services, P2P services, transaction history, account tools, customer support and related platform features.

5.2. We decide the digital assets, fiat currencies, transaction types, limits, features and jurisdictions we support.

5.3. We may add, remove, suspend or restrict any asset, feature or service where necessary for security, legal, operational, liquidity, regulatory or risk-management reasons.

6. Digital Asset Transactions

6.1. Digital asset transactions are processed according to the instructions submitted through your account.

6.2. You must carefully confirm wallet addresses, amounts, network, asset type, recipient details and transaction information before authorising a transaction.

6.3. Blockchain transactions may be irreversible. We may not be able to reverse, cancel or recover assets sent to the wrong wallet address, wrong network, wrong recipient or unsupported asset.

6.4. Transactions may be delayed due to network congestion, blockchain confirmations, compliance checks, banking delays, technical issues or other circumstances outside our reasonable control.

7. P2P and Third-Party Dealings

7.1. Where the Platform enables P2P transactions or dealings with third parties, you are responsible for carrying out your own checks and ensuring that you understand the transaction.

7.2. We do not guarantee the conduct, identity, performance, delivery, quality, legality or reliability of any third-party user, merchant, payment provider or counterparty.

7.3. We may intervene, restrict, freeze, reverse or cancel a transaction where we suspect fraud, illegality, money laundering, market manipulation, sanctions breach, error, chargeback risk or violation of these Terms.

8. Fees, Limits and Taxes

8.1. You agree to pay all applicable fees, network charges, withdrawal fees, service charges and other charges disclosed on the Platform or in our Fees Schedule.

8.2. Transaction limits may apply based on your verification level, risk profile, account history, regulatory requirements and our internal policies.

8.3. You are responsible for determining, reporting and paying any taxes that apply to your transactions.

9. Key Risk Disclosure

9.1. Digital assets are high-risk and volatile. Their value may rise or fall quickly and may become worthless.

9.2. You acknowledge that:

a. digital asset prices are volatile;

b. blockchain transactions may be irreversible;

c. network delays, forks, protocol failures, cyber incidents or liquidity issues may occur;

d. you may lose some or all of your funds;

e. past performance is not a guarantee of future performance;

f. SWAP does not guarantee profit, price, return, liquidity or availability of any asset; and

g. you should not trade or deposit funds you cannot afford to lose.

9.3. Nothing on the Platform is financial, investment, legal or tax advice. You should obtain independent advice before using the Services.

10. Prohibited Use

10.1. You must not use the Platform or Services:

a. for fraud, money laundering, terrorist financing, sanctions evasion or any unlawful purpose;

b. to violate any applicable law, regulation or third-party right;

c. to manipulate markets, prices, orders or platform systems;

d. to provide false information or impersonate any person;

e. to interfere with the Platform's security, systems, data or operations;

f. to introduce malware, harmful code or unauthorised software;

g. to abuse, threaten, defame, harass or mislead other users;

h. to conduct prohibited business or high-risk activity without our prior approval; or

i. in any way that may expose SWAP to legal, regulatory, financial or reputational risk.

11. Suspension, Freezing and Account Closure

11.1. We may suspend, restrict, freeze, investigate or close your account where:

a. required by law, court order, regulator, law enforcement or competent authority;

b. we suspect fraud, money laundering, sanctions breach, illegal activity or security compromise;

c. you breach these Terms;

d. your transaction appears suspicious, erroneous or high-risk;

e. you fail to complete verification;

f. we are required to protect users, the Platform or our business; or

g. continued access would create legal, compliance, operational or reputational risk.

11.2. Suspension does not automatically remove your ownership of funds or digital assets, except where funds or assets are frozen, seized, forfeited, set off or restricted under law, court order, regulatory instruction or these Terms.

12. Privacy and Data Protection

12.1. We process personal data in accordance with applicable data protection laws and our Privacy Policy.

12.2. We may collect, use, store, verify and share your information for account registration, KYC, AML/CFT compliance, sanctions screening, transaction monitoring, fraud prevention, customer support, regulatory reporting and service delivery.

12.3. We may share information with verification providers, payment partners, banks, compliance service providers, cloud providers, regulators, law enforcement agencies and other persons where necessary or lawful.

13. Intellectual Property

13.1. The Platform, software, design, text, logos, trademarks, content, databases, graphics, processes and other intellectual property belong to SWAP or its licensors.

13.2. You may use the Platform only for the purpose allowed by these Terms. You must not copy, reproduce, modify, reverse-engineer, distribute, sell, exploit or misuse any part of the Platform without our written consent.

14. Third-Party Services and Links

14.1. The Platform may contain links, integrations or services provided by third parties, including payment processors, verification providers, banks, blockchain networks, wallet providers and other service providers.

14.2. We are not responsible for third-party platforms, services, delays, failures, fees, content, policies or actions, except to the extent required by applicable law.

15. Disclaimers and Limitation of Liability

15.1. The Platform and Services are provided on an "as is" and "as available" basis.

15.2. To the fullest extent permitted by law, we do not guarantee that the Platform will always be available, uninterrupted, error-free, secure or free from defects.

15.3. We shall not be liable for losses arising from market volatility, blockchain failure, wrong wallet address, wrong network, user error, third-party default, regulatory action, force majeure, unauthorised access caused by your negligence, or events outside our reasonable control.

15.4. Nothing in these Terms excludes or limits liability that cannot lawfully be excluded, including liability for fraud, wilful misconduct, gross negligence or any responsibility imposed by applicable consumer protection law.

16. Risk Disclosure Statement

16.1. You are responsible for keeping your account and devices secure. Digital asset platforms may be targeted by hackers, fraudsters, malware, phishing attacks and other cyber threats.

16.2. Digital assets, including cryptocurrencies, tokens and stablecoins, are high-risk assets. Their value can rise or fall quickly and may become worthless.

16.3. You should not buy, sell, hold, deposit or transfer any digital asset unless you understand the risks and can afford to lose the funds involved.

16.4. SWAP does not guarantee any profit, return, price, liquidity, exchange rate or future value of any digital asset. Past performance is not a guarantee of future performance.

16.5. SWAP does not provide financial, investment, legal, tax or trading advice. Any information displayed on the Platform is provided for general information only. You are responsible for your own decisions and should seek independent advice where necessary.

16.6. Blockchain transactions are usually irreversible once submitted or confirmed. SWAP may not be able to reverse, cancel or recover assets sent to the wrong address, wrong network, wrong recipient or unsupported wallet. Please double check before confirming transactions.

16.7. Digital asset laws, regulations and government policies may change at any time. Regulatory action may affect your ability to access, hold, trade, deposit, withdraw or use digital assets.

16.8. SWAP may suspend, restrict, freeze, reverse, cancel or report transactions where required by law, regulation, court order, regulator, law enforcement agency, AML/CFT obligation, sanctions requirement or internal compliance process.

16.9. You are responsible for determining whether any tax applies to your transactions, trades, gains, income, transfers or withdrawals.

16.10. Fees and charges may apply when you use SWAP, a digital asset platform operated by SWAP Limited. Where possible, applicable fees will be displayed before you confirm a transaction.

17. Indemnity

17.1. You agree to indemnify SWAP, its directors, officers, employees, affiliates and agents against losses, claims, penalties, damages, costs and expenses arising from your breach of these Terms, unlawful use of the Services, false information, third-party claims, violation of law or misuse of the Platform.

18. Changes to These Terms

18.1. We may update these Terms from time to time.

18.2. Where changes are material, we will take reasonable steps to notify you through the Platform, email, SMS, in-app notice or any other appropriate means.

18.3. Your continued use of the Platform after the effective date of the updated Terms means you accept the updated Terms.

19. Complaints and Notices

19.1. If you have a complaint, notice or dispute, please contact us through:

SWAP Limited

Email: quwamdeen@useswap.co

Customer Support: support@useswap.co

Compliance/AML Reporting: legal@useswap.co

Data Protection Officer: info@vancefordlaw.com

Telephone: +234 901 202 3271.

19.2. We will review complaints in accordance with our internal complaints procedure and applicable law.

20. Governing Law and Dispute Resolution

20.1. These Terms are governed by the laws of the Federal Republic of Nigeria.

20.2. If a dispute arises, you agree to first contact us and allow us a reasonable opportunity to resolve the matter.

20.3. Where the dispute is not resolved amicably, either party may explore mediation, arbitration or litigation before a court of competent jurisdiction in Nigeria.

21. Final Provisions

21.1. These Terms, together with the Privacy Policy and other policies incorporated by reference, constitute the agreement between you and SWAP regarding use of the Platform.

21.2. If any part of these Terms is found to be invalid or unenforceable, the remaining parts shall continue to apply.

21.3. You may not assign your rights or obligations under these Terms without our written consent.

21.4. By clicking "Agree", creating an account or using the Platform, you confirm that you have read, understood and accepted these Terms.