This section explains key terms related to depositing, withdrawing, and using funds in your ZIO balance.
1. Payment Currencies
What is it?
These are monetary units you can use on the platform to pay for services and fees.
ZIO supports payments in various fiat (e.g., US Dollars, Euros) and cryptocurrencies (e.g., USDT, BTC).
How is it used?
You can choose convenient currency from the list of available options to pay for freelance deals and platform commissions.
The performer receives payment in the currency agreed upon when the order was created.
2. Transaction Guarantor
What is it?
This is the role performed by ZIO platform in every transaction.
How is it used?
We are not a seller, buyer, or currency exchange service. Our task is to ensure secure settlements between the customer and the performer. Funds are held safe by escrow by the platform until the work is successfully completed and approved, after which they are released transferring to performer.
3. Deposit (Funding Your Balance)
What is it?
This is the operation of transferring money to your internal ZIO account.
How is it used?
You can top up your balance to reserve a budget for future deals.
Minimum Amount: The equivalent of $5 in your chosen currency.
Fee: Commission charged by the bank or payment system for transfer is deduced.
ZIO platform itself does NOT charge any additional deposit fees.
4. Withdrawal
What is it?
This is the operation of transferring your funds from internal ZIO account to external payment system, bank account, or crypto wallet.
How is it used?
You can withdraw earned funds after successfully completing deals.
Minimum Amount: The equivalent of $5 in your chosen currency.
Fee: Commission charged by the bank or payment system for transfer is applied.
Important: When withdrawing funds (except for refunds), an income tax or other applicable levy may appear according to the legislation of your country of tax residence. User is responsible for declaring and paying any applicable taxes.
5. Transaction Fees (Transfer Commission)
What is it?
These are fees charged by third parties (banks, payment gateways, blockchain networks) for processing a financial transaction.
How is it used?
This commission is not revenue for ZIO and is paid by User in addition to the transfer amount for both deposits and withdrawals.
6. Legislation of Country of Residence
What is it?
These are laws and regulations of the country where you are considered a resident for tax and legal purposes.
How is it used?
All deposit and withdrawal operations, as well as tax obligations (particularly income tax upon withdrawal), must comply with the requirements of your country's legislation. User is solely responsible for ensuring compliance with these regulations.
Key Principles of ZIO:
We do NOT sell cryptocurrency.
We do NOT perform any exchange operations (crypto-to-crypto, crypto-to-fiat, fiat-to-fiat).
We are a secure transaction guarantor between customers and performers.