Legal

Terms of Use

Last updated: 1 July 2026

1. About us and these Terms

234 Exchange ("234 Exchange", "we", "us", "our") is a business name registered in Nigeria (Business Name Registration No. 2550123, registered on 25 October 2017), with its registered office at 234 Muri Okunola Street, Victoria Island, Lagos.

234 Exchange conducts its virtual asset activities in partnership with Ideospay Solutions Limited, a business registered as a Money Services Business dealing in virtual currencies with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), registration number C100000698.

These Terms of Use (the "Terms") govern your access to and use of the 234 Exchange website, applications and services (together, the "Services"). By accessing or using the Services, you agree to these Terms. If you do not agree, do not use the Services.

These Terms should be read together with our Privacy Policy, Risk Disclosure, AML/KYC Policy, Refund & Cancellation Policy and any other policies we publish, which form part of these Terms.

2. Definitions

  • "Swap" — a non-custodial exchange of one crypto asset for another, executed through third-party exchange providers that we aggregate.
  • "Cash-out" — our service converting supported crypto assets (currently BTC and USDT) into Nigerian Naira (NGN) paid to your bank account.
  • "Digital Assets" — cryptocurrencies and other virtual assets.
  • "Wallet" — a blockchain address you control.
  • "You" — the person accessing or using the Services.

3. Eligibility

To use the Services you confirm that you: (a) are at least 18 years old and legally able to enter these Terms; (b) are not located in, resident in, or accessing the Services from a jurisdiction where the Services are prohibited or where doing so would breach any law, including any sanctioned jurisdiction; (c) are not a person subject to sanctions or listed on any prohibited-persons list; and (d) will use the Services only for lawful purposes. We may refuse, restrict or withdraw access to any person or jurisdiction at our discretion.

4. The Services

234 Exchange offers two distinct services with different characteristics. Please read this section carefully — your rights and our role differ between them.

4.1 Swap (non-custodial)

When you use the Swap service, we compare rates across third-party exchange providers and route your transaction to a provider offering a competitive rate. The swap itself is executed by the third-party provider, not by 234 Exchange. We act as an aggregator and technology interface.

  • We do not take custody of your Digital Assets on a Swap. You send your Digital Assets to a deposit address generated by the executing provider, and you receive the exchanged assets directly to the Wallet you specify.
  • Swaps may be subject to the terms and compliance procedures of the executing third-party provider.
  • Rates may be offered as Fixed (locked at quote, subject to a validity window) or Float (determined at settlement; the final amount may vary). You choose which applies.

4.2 Cash-out to Naira (settlement)

When you use the Cash-out service, you send supported Digital Assets to us and we settle the equivalent value in NGN to your nominated Nigerian bank account.

  • Cash-out is a settlement service. To provide it, we receive your Digital Assets for the limited period required to complete settlement, and we disburse NGN to your bank account.
  • Cash-out requires identity verification and is subject to our AML/KYC Policy.
  • We confirm the beneficiary bank account name before disbursing, and payouts are made after the required number of network confirmations.
  • The NGN amount payable is the amount quoted to you at the time of the transaction, subject to §5.

5. Quotes, rates and fees

  • Rates are provided as quotes and may change. A Fixed rate is held only for the validity window shown; if your deposit is not received within that window, the rate may be re-quoted.
  • Fees are disclosed before you confirm a transaction. Network (blockchain) fees, third-party provider spreads and applicable charges may apply and are reflected in the rate or shown separately.
  • If the amount of Digital Assets received differs from the amount quoted, we may settle the transaction based on the amount actually received at the applicable rate, return the difference, or hold the transaction for review.
  • We are not responsible for losses arising from market movement between the time of your quote and the time your deposit is received or settled.

6. Your responsibilities

You are solely responsible for: (a) providing a correct receiving Wallet address and, for Cash-out, correct bank account details; (b) sending only the correct asset on the correct network shown on the deposit screen; and (c) sending the correct amount. Blockchain transactions are irreversible. Assets sent to a wrong address, on a wrong network, or that do not match transaction instructions may be delayed, lost or unrecoverable, and we may be unable to recover them for you.

7. Identity verification, compliance and sanctions

  • We operate compliance controls including customer identification (KYC), transaction monitoring, source-of-funds screening and sanctions checks, as set out in our AML/KYC Policy.
  • You agree to provide accurate information and documents when requested, and to keep them current.
  • We may, at our discretion and to the extent permitted or required by law, delay, hold, refuse, reverse (where possible), suspend or report any transaction, and freeze funds, where we identify or suspect fraud, sanctions exposure, money laundering, terrorism financing, or a breach of these Terms or applicable law. Where a transaction is subject to a compliance hold, we may be restricted by law from returning funds.

8. Prohibited use

You must not use the Services: for any unlawful purpose; to launder money or finance terrorism; to breach sanctions; to defraud any person; to transact proceeds of crime; to evade tax; to circumvent our compliance controls; or in any manner that could damage, disable or impair the Services. We may terminate access and report to authorities for any suspected prohibited use.

9. Refunds and cancellation

Because transactions settle on public blockchains and Swaps are non-custodial, transactions generally cannot be cancelled or reversed once your deposit has been sent. Where a refund is possible (for example, a materially incorrect amount or an expired quote), it is handled in accordance with our Refund & Cancellation Policy. Funds subject to a compliance hold are dealt with under §7.

10. Risks

Using Digital Assets carries significant risk, including price volatility, irreversibility, technology and network risk, and regulatory change. You must read our Risk Disclosure before using the Services. You use the Services at your own risk and are responsible for your own decisions. Nothing in the Services is investment, financial, legal or tax advice.

11. Intellectual property

The Services, including all content, trademarks, logos and software, are owned by or licensed to 234 Exchange and are protected by law. We grant you a limited, non-exclusive, revocable licence to use the Services for their intended purpose. You may not copy, modify, distribute or create derivative works except as permitted by law.

12. Third-party services

The Services rely on third-party providers (including exchange providers, payment and settlement partners, and infrastructure providers). We are not responsible for the acts, omissions, availability or terms of third parties. Your use of third-party services may be subject to their own terms.

13. Disclaimers

The Services are provided "as is" and "as available" without warranties of any kind, express or implied, to the fullest extent permitted by law. We do not warrant that the Services will be uninterrupted, error-free, secure, or that rates will always be available, and we do not guarantee the performance of any third-party provider or blockchain network.

14. Limitation of liability

To the fullest extent permitted by law, 234 Exchange and its partners, directors, officers and employees will not be liable for any indirect, incidental, special, consequential or punitive loss, or for loss of profits, data, goodwill, or Digital Assets, arising out of or in connection with the Services. Our total aggregate liability for any claim arising out of or relating to the Services will not exceed the fees you paid to us for the transaction giving rise to the claim. Nothing in these Terms excludes liability that cannot lawfully be excluded.

15. Indemnity

You agree to indemnify and hold harmless 234 Exchange and its partners from any claims, losses, liabilities and expenses (including reasonable legal fees) arising from your use of the Services, your breach of these Terms, or your breach of any law or third-party right.

16. Suspension and termination

We may suspend, restrict or terminate your access to the Services at any time, with or without notice, including where required by law or our compliance obligations, or where we suspect a breach of these Terms. Provisions that by their nature should survive termination (including §§7, 10, 13–15, 18) will survive.

17. Changes

We may amend these Terms or the Services at any time. Changes take effect when posted, with the "Last updated" date revised. Your continued use after changes constitutes acceptance. Material changes will be notified where reasonably practicable.

18. Governing law and disputes

These Terms and any dispute arising out of or in connection with them or the Services are governed by the laws of the Federal Republic of Nigeria, and you submit to the exclusive jurisdiction of the courts of Nigeria, subject to any mandatory dispute-resolution or consumer-protection rights available to you under applicable law.

19. General

  • Entire agreement: these Terms and the policies referenced form the entire agreement between you and us regarding the Services.
  • Severability: if any provision is found unenforceable, the remainder continues in effect.
  • No waiver: our failure to enforce any right is not a waiver of it.
  • Assignment: you may not assign these Terms; we may assign them to an affiliate or successor.
  • Force majeure: we are not liable for failures caused by events beyond our reasonable control.

20. Contact

Questions about these Terms: support@234exchange.com.

Questions? support@234exchange.com · Back to 234 Exchange