This policy explains what personal information PraizEx collects, why we collect it, how we protect it, and the choices you have. It should be read alongside our Terms & Conditions. We aim to collect as little as we need and to keep it safe.
01Who this applies to
This policy applies to everyone who uses the PraizEx website or completes a trade with us. PraizEx is operated by a company registered in Nigeria, and we handle personal data in line with the Nigeria Data Protection Act 2023 (NDPA) and applicable Nigerian law. For the purposes of that law, we are the data controller for the information described here.
02What we collect
Depending on what you do, we may collect:
- Verification data (KYC): the bank-verified name on your payout account; and, above certain thresholds, a government ID and a short source-of-funds statement.
- Bank & payout details: the bank and account number used to pay or receive for a trade, so settlement reaches the right place.
- Contact information: your WhatsApp number and any name or email you share when you contact us.
- Transaction records: the details of each trade — reference, date and time, product, coin/amount/network, rate, fees, the naira amount, the account used, and blockchain transaction hashes.
- Communications: the messages you send us, kept as a record of what was agreed.
03What we do not collect
We do not ask for or store your seed phrase or private keys — ever. Our savings service is non-custodial and your wallet stays entirely under your control. Where you send us an ID document or a gift-card image, it travels inside your WhatsApp chat and is not uploaded to or stored on this website; our records note that verification took place, not the image itself. We do not run our own database of customer data on the site.
04Why we use it
We use your information only to run the service and meet our obligations:
- To verify identity and confirm you are the account holder (fraud prevention and safety).
- To settle trades — pay you, or receive from you, at the right account.
- To meet anti-money-laundering and legal obligations and keep proper records.
- To provide support and resolve disputes, using the trade log as the reference.
- To prevent fraud and abuse, including maintaining a blacklist of accounts linked to fraud.
Our lawful bases include performing our contract with you, complying with legal obligations, and our legitimate interest in preventing fraud and running the service safely.
05Where it lives & how we protect it
Our architecture is deliberately lean: a static website plus a small number of serverless functions, with no customer database on the site to breach. Your bank details travel inside your own WhatsApp messages. Bank-name verification is performed through Paystack, and the secret key used for it is held server-side in a secured environment variable, never exposed to your browser.
We apply reasonable technical and organisational measures to protect personal data. No method of transmission or storage is perfectly secure, but we work to keep the amount of data we hold small and its handling careful.
06Who we share it with
We do not sell your personal data to anyone. We share it only where needed to provide the service or meet the law:
- Iron Hill, our licensed Bureau De Change partner, for FX transactions you ask us to arrange (you are verified on each side of the partnership).
- Paystack, for bank-account name verification and hosted payments.
- Regulators, courts, or law enforcement, where we are legally required to disclose, or to prevent or report fraud or unlawful activity.
07How long we keep it
We keep trade records and verification information for as long as we need them to run the service, resolve disputes, and meet our legal and anti-money-laundering record-keeping obligations. When information is no longer needed for these purposes, we delete or anonymise it. Because AML rules require records to be kept for a set period, some information may be retained even after you stop using the service.
08Your rights
Subject to Nigerian law, you have the right to:
- Access the personal data we hold about you.
- Correct information that is inaccurate or incomplete.
- Request deletion of your data where we are not required to keep it for legal or compliance reasons.
- Object to or restrict certain uses, and withdraw consent where processing relies on it.
- Complain to the Nigeria Data Protection Commission (NDPC) if you believe your data has been mishandled.
To exercise any of these, contact us using the details below. We may need to verify your identity before acting on a request.
09Cookies & analytics
This is a static website that works without requiring you to log in. We keep any cookies and analytics to the minimum needed for the site to function and to understand basic, aggregate usage. We do not use your browsing to build advertising profiles. Where required, we will ask for your consent to any non-essential cookies.
10Children
PraizEx is not intended for anyone under 18. We do not knowingly collect data from children. If you believe a minor has provided us information, contact us and we will remove it.
11Changes
We may update this policy from time to time. The current version is the one published on this page, with its "last updated" date shown above. Material changes will be reflected here.
12Contact & requests
For any privacy question or to make a data request, reach us on WhatsApp, by email at praizexchange013@gmail.com, or via our Contact page.
This is a draft prepared to give a qualified lawyer a sensible, honest starting point. It must be reviewed and finalised before launch and does not constitute legal advice.