Terms of Service
Last updated: 16 June 2026
1. Acceptance
By creating an account or initiating a swap on Zap Exchange ("Zap", "we"), you agree to these Terms. If you do not agree, do not use the service.
2. The service
Zap provides automated swaps between Nigerian Naira (NGN) and supported crypto-assets, plus auto-credit links between bank virtual accounts and crypto wallets. Quotes are indicative until a swap is executed; final amounts are determined at settlement.
3. Eligibility & KYC
- You must be 18 or older and legally permitted to use crypto services in your jurisdiction.
- Identity verification (BVN / NIN / government ID + selfie) is mandatory above the per-tier limits.
- We may refuse, suspend, or reverse any transaction we reasonably believe is fraudulent, sanctioned, or otherwise unlawful.
4. Fees
Zap charges a single platform service fee of 1% of the deposit amount, included in every quote. There are no hidden mark-ups on the displayed rate. Third-party costs (payment-gateway fees, blockchain network fees) are passed through transparently and shown on your receipt.
5. Address & network validation
You are responsible for providing a destination address that matches the selected network. Zap validates address format and checksum before broadcast and rejects obvious mismatches, but cannot recover funds sent on the wrong network when the deposit bypasses our validation (e.g. external transfers to a deprecated address).
6. Refunds
Refunds are governed by our Refund Policy. In summary: failed swaps and rejected payouts are automatically refunded to the original source after deducting our 1% platform fee and any non-refundable third-party gateway fees. Refunds are non-discretionary — they fire automatically when the conditions in the Refund Policy are met.
7. Risk disclosure
- Crypto-asset prices are volatile. Quotes lock the rate for a short window only; the rate that applies is the rate at settlement.
- Blockchain transactions are irreversible. Once a crypto payout broadcasts to the address you provided, Zap cannot reverse it.
- Banking rails may be delayed by your bank, the NIBSS network, or scheduled maintenance windows.
8. Prohibited use
- Money laundering, terrorist financing, tax evasion, or any other illegal activity.
- Using the service on behalf of a third party without disclosure.
- Circumventing transaction limits, KYC checks, or sanctions screening.
- Automated abuse, scraping, or attempts to interfere with the service.
9. Account suspension
We may suspend or terminate accounts that breach these Terms, that are flagged by our compliance partners, or that pose an unacceptable risk. Where lawful, balances held at the time of suspension will be returned per the Refund Policy.
10. Limitation of liability
To the maximum extent permitted by law, Zap is not liable for indirect, incidental, or consequential losses, including loss of profits or market-movement losses. Our aggregate liability for any claim relating to a single swap is capped at the fees we collected on that swap.
11. Changes
We may update these Terms. Material changes will be notified by email and posted here with a new "Last updated" date. Continued use after the change date constitutes acceptance.