TERMS AND CONDITIONS

Last Updated on 11/09/2024

 

Please read these Terms & Conditions ("Terms") carefully before using the Website https://coinon.io, which is owned and operated by COINPAL, UAB.

In these Terms and Conditions, references to persons shall include legal entities (unless otherwise specified therein); references to the singular shall include the plural and vice versa, and references to any gender shall include all genders.

These Terms and Conditions govern the business relationship between COINPAL, UAB and the User regarding the visit, navigation, use of and access of COINPAL, UAB Website and/or the services and products offered through COINPAL, UAB Website (if applicable).

CoinOn is the brand name for our onramp service, operated by CoinPal, UAB. Throughout this privacy policy, any reference to 'CoinOn' or 'we' refers to CoinPal, UAB, the legal entity responsible for operating the CoinOn service.

 

1.      DEFINITIONS

 

1.1.  “Company”, “We”, “Us”, “Ours”  means COINPAL, UAB (hereafter also referred to as “the Company”, “we”, “us”, or “our”) is authorized as Virtual currency exchange operator and is regulated by the Financial Crimes Investigation Service. The Company is incorporated under the laws of Lithuania with Company Code 306106732 and has its registered address at 2nd Floor, T.Narbuto str. 5, Vilnius LT 08105, Lithuania. The Company owns and operates the domain https://coinon.io/ (hereafter the “Website”).

1.2.  “Website” means the website titled https://coinon.io and any other sub-domains which belong to and are operated by the Company.

1.3.  “Services” means various services provided to you by The Company that are based on Internet and/or blockchain technologies and offered via. The Company Services include but are not limited to such components as Onramp and novel services to be provided by The Company using it’s Website.

1.4.  “Virtual currency” means Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), Tether (USDT), and DAI, crypto-tokens and any other type of digitalized assets with a certain value supported by Company Services that may be purchased, sold, or exchanged via the Company Website.

1.5.  “Wallet” means a digital tool, software application used to securely store and manage cryptographic keys for accessing and controlling ownership rights to Cryptocurrencies.

1.6.“Onramp” means a service enabling the exchange of fiat currency into cryptocurrency, where users can purchase digital assets such as Bitcoin or Ethereum using traditional payment methods like credit cards or bank transfers. In the Self-operated Mode, UAB Coinpal directly handles the transaction processing and customer verification (KYC), while in Referral Mode, the process is managed by third-party providers Simplex and Transak.

1.7.  FIAT Currency - USD, GBP, EUR, or other government-issued currency that is recognized as legal tender in its country of issuance through government decree, regulation, or law.

1.8.  “Customer”, "You”  means a person using the Website and/or the Company’s products & services via the Website and/or who effects Transactions via the Company’s Payment Channels for his/her benefit or the benefit of a Merchant.

1.9.  “Links” means any sites linked to other websites in the Company’s Website.

1.10.“Merchant” means a natural or legal person who has been accepted as a Customer and has contracted with the Company to use the Company’s Payment Channels to conduct Transactions.

1.11.“Payment Channels” means any form of crypto payment instrument(s) or payment method(s), whether it is physical, virtual, online, electronic, internet-based or any other payment method provided by the Company (either directly via the Company itself or via third party providers) from time to time. In the company's business environment, financial operations refer to the withdrawal operations initiated by customers through the company's background account.

1.12.“Transaction(s)” means any payment order executed for the purchase/sale of goods or the provision of services. It should be noted that the Company processes the Transaction through secure Payment Channels. The Company facilitates the execution of the Transaction(s) and processes them as quickly as practicable possible.

1.13.“Terms and Conditions”, “Terms” means these terms and conditions concerning the Website visit, navigation and/or usage, as may be amended, modified, updated or replaced from time to time by the Company.

1.14.“User” means any person having access to the Website and the sub-domains of the Company, and it includes the visitor(s), the Customer(s) and any other persons who access and/or use the Website.

1.15. "User account" refers to the single account opened by The Company for Users to record their usage of The Company Services, transactions, asset changes, and basic information. The User Account is used to facilitate cryptocurrency purchases (onramp services) and serves as the basis for Users to access and utilize The Company’s Services.

1.16.“KYC” means “Know Your Customer." It is a process that The Company follow to verify and authenticate the identity of their customers. KYC is a crucial step in preventing identity theft, fraud, money laundering, and other illicit activities.

1.17.“Privacy Policy” means a The Company policy that explains how we collect, use, disclose, and protect the personal information of individuals who interact with us. Please familiarize with it here https://www.coinon.io/privacy-policy.html.

 

1.18.“Restricted Jurisdictions” means Jurisdictions of Democratic People's Republic of Korea (DPRK),Iran,Russia,Belarus,Cuba,Sudan,Syria,South Sudan. Certain partial restrictions may apply to additional geographic areas, as shall be notified by us from time to time. The Restricted Jurisdictions list may change from time to time for reasons which include but are not limited to licensing requirements and any other legal and regulatory changes.

 

2.      CONDITIONS OF USE

 

2.1.  Your access to and use of this Website is conditioned on the acceptance of, and compliance with, these Terms and Conditions. These terms apply to all Users.

2.2.  By entering, accessing, browsing, navigating and/or using this Website, you certify that you have carefully read, understood and agree to be bound by these Terms and Conditions as well as the notices contained herein and to comply with all the applicable laws and regulations.

2.3.  Furthermore, this Website may contain other proprietary notices and copyright information, the terms of which must be observed and followed.

2.4.  If you disagree with any part of the terms or do not want to be bound by these Terms and Conditions, then you may not access this Website and you are advised to leave the Website immediately.

2.5.  The Company only grants use and access of this Website, its products, and its services to those who have accepted its terms.

2.6.  Where this Website is accessed from outside the country of Lithuania, the User is responsible for complying with all the local laws and regulations.

 

3.      ELIGIBILITY

 

3.1.  By registering to use a The Company Services, you represent and warrant that:

3.1.1.      as an individual, you are at least 18 or are of legal age to form a binding contract under applicable laws;

3.1.2.      as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these Terms;

3.1.3.      you have not been previously suspended or removed from using The Company Services;

3.1.4.      you do not currently have a The User Account;

3.1.5.      you are not from Restricted Jurisdictions. 

3.1.6.      If you act as an employee or agent of a legal entity, and enter into these Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity;

3.1.7.      your use of The Company Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.

3.1.8.      you have read and understood the section 11 "Risk Factors” ;

3.1.9.      you are financially and technically sophisticated enough to understand the inherent risks associated with using cryptographic and blockchain-based systems;

3.1.10.  you are authorised and legally entitled to use the Service in the jurisdiction in which you are based without infringing the laws or regulations of that jurisdiction

3.1.11.  you are not subject to any sanctions administered or enforced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the United Nations Security Council, the European Union, Her Majesty’s Treasury, or any other legal or regulatory authority in any applicable jurisdiction.

 

4.      SERVICES

 

4.1.  As a User, you hereby authorize us, acting as your agent, to facilitate the conversion of fiat currency into cryptocurrencies. In Referral Mode, this service is provided by third-party providers such as Simplex or Transak. In Self-operated Mode, UAB Coinpal directly processes the conversion from fiat to cryptocurrency. If the Company introduces additional services in the future, these Terms & Conditions will be updated accordingly.

4.2.  Scope of Responsibility: The Company provides services limited to the purchase of Virtual Currencies (onramp). Once the Virtual Currency is delivered to your designated Wallet, you acknowledge and agree that any subsequent use, transfer, storage, or transaction of the Virtual Currency is solely your responsibility. The Company is not liable for any activities or consequences arising from your use of the Virtual Currencies, including but not limited to compliance with applicable laws, investment risks, or third-party interactions.

4.3  The rate at which Website sell or exchange Virtual currencies will be determined in the final step of the transaction process.

4.4.  Your use of the Service is subject to a KYC process. In Referral Mode, the KYC process is conducted by third-party service providers such as Simplex or Transak, who may store your data for future use and verification in accordance with their privacy policies. In Self-operated Mode, UAB Coinpal manages the KYC process and securely stores your data for regulatory purposes.

4.5.  The minimum order size for Virtual currency can be found on the Website. Any changes to the minimum order size will be effective when published on the Website, and your continued use of the Services will be considered as your acceptance of such changes.

4.6.  The fees for purchase of Virtual currencies can be found on your payment page (referred to as the “Fees”), and you will be notified of any changes to the Fees on the Website. Your continued use of the Services after such changes will be considered as your acceptance of the updated Fees.

4.7.  Purchase of Virtual currency: After opening a User account with us, you can purchase Virtual currency using FIAT Currency. In Referral Mode, your payment will be transferred to third-party providers such as Simplex or Transak, and they will deliver the Virtual currency to your Wallet. In Self-operated Mode, UAB Coinpal will process the payment and deliver the Virtual currency directly to your Wallet. Future updates to services will be reflected in these Terms & Conditions.

4.8.  You acknowledge and agree that we have sole discretion in deciding whether to provide you with the Services and whether to reverse any of your orders or transactions. For example, in order to provide liquidity for our Users, we may trade Virtual currency with other Virtual currency exchanges. If there is insufficient liquidity for a certain Virtual currency, we may decline or reverse your order to purchase such Virtual currency.

4.9.  You acknowledge that certain limits may apply to the purchase of Virtual currency based on our policies, including but not limited to volume limits and our KYC process. We reserve the right to change these limits at our discretion. For example, these limits may be set per day and/or per month.

4.10.  We reserve the right to refuse to process, cancel, or reverse any purchase of Virtual Currencies from us of Virtual currencies, at our sole discretion. This may occur if you have insufficient FIAT Currency or Virtual currency, or if the transfer of Virtual currency or FIAT Currency is not possible, even after funds or Virtual currency have been debited from you.

4.11.We may suspend, modify, remove, or add to the Services at any time.

4.12.You must not use the Services or the Website in a manner that violates any applicable laws or regulations.

4.13.We may suspend or block your User Account, access to the Services and/or the Website without prior notification in certain cases, including: (i) technical failures in the Website until they are resolved or maintenance work is completed; (ii) suspicion of unauthorized User account usage until clarification is obtained; or (iii) additional verification procedures and activity analysis within the scope of AML requirements.

4.14.You acknowledge and agree that The Company is not a payment service provider.

4.15.Chargeback Policy By agreeing to these Terms, you acknowledge and agree that cryptocurrency transactions, once completed and delivered to your designated wallet, are final and irreversible. You further agree not to initiate chargebacks or payment disputes related to any subsequent use or mismanagement of the purchased cryptocurrency. Any disputes concerning the use of cryptocurrency for third-party services must be resolved directly with the third-party provider.

5.      USER IDENTITY VERIFICATION

 

5.1.  By registering a User Account with The Company, you agree to provide the necessary personal information for identity verification when asked. The Company will utilize this information to verify your identity and comply with applicable anti-money laundering, terrorism prevention legislation, and other lawful purposes stated by The Company. The provided information will be used to detect instances of money laundering, terrorist financing, fraud, and other financial crimes associated with The Company.

5.2.  We will collect, use, and disclose such information in accordance with our Privacy Policy.

5.3.  In addition to the information specified in section 5.1, you authorize us to retain a record of that information for the duration of your active Account and up to eight (8) years after the closure of your Account, in compliance with industry standards for data storage. Furthermore, you grant us the authority to conduct necessary investigations, either directly or through a third party, to verify your identity, protect you and/or us from financial crimes, such as fraud.

5.4.  The information and documents required to verify your identity may include, but is not limited to:

  1. your name;
  2. date of birth;
  3. email address;
  4. contact information;
  5. phone number’
  6. username;
  7. government-issued identification document (Passport, Driver's license, National identity card)
  8. proof of address
  9. declaration of sources of funds and/or sources of wealth
  10. Any other information that The Company is legally obligated to request from you based on applicable AML-related regulations.

5.5.  By providing the necessary information, you confirm its accuracy and authenticity.

5.6.  The Company will provide an explanation when requesting any of the information mentioned above.

5.7.  After registration, it is your responsibility to ensure the accuracy, completeness, and timely updating of the provided information in case of any changes. If we have reason to believe that any of the information provided is incorrect, false, outdated, or incomplete, we reserve the right to send you a notice for correction, delete the relevant information, and, if necessary, terminate some or all of the services provided by The Company. If we are unable to reach you using the provided contact information, you shall be fully liable for any losses or expenses incurred by The Company during your use of our services.

5.8.  By registering an Account, you authorize The Company to conduct investigations, as deemed necessary, directly or through third parties, to verify your identity or protect you, other users, and/or The Company from fraud or other financial crimes. You also acknowledge and agree that your personal information may be disclosed to credit bureaus and agencies for fraud prevention or financial crime prevention, and they may provide full responses to our investigations.

5.9.  To ensure compliance with applicable anti-money laundering and terrorism prevention legislation, you may be requested to provide the following (but not limited to) information/documents:

  1. Information regarding transactions initiated by natural persons: name(s), unique transaction code, identification codes of the payment account or deposited virtual currency wallets, identity document and its number, personal identification number, date of birth or any other unique identifier assigned to identify the person, nationality, and residential address.
  2.      Information regarding transactions initiated by legal persons: name, unique transaction code, identification codes of the payment account or deposited virtual currency wallets, registration code, registered office address, the registration statement from the public registries, the articles of association, information from shareholders registers.
  3. Information regarding the natural person who is the recipient of the transaction: name(s), surname(s), personal identification number, date of birth or any other unique identifier assigned to identify the person, nationality, and identification codes of the recipient's payment account or deposited virtual currency wallets.
  4.      Information regarding the legal person who is the recipient of the transaction: name, code (if applicable), and identification codes of the recipient's payment account or virtual currency wallet.

5.10.Information/documents collected in accordance with paragraphs 5.4., 5.9. of these Terms would be used for The Company KYC procedures. It should be noted that in case the Client is a legal person, The Company KYC procedure could be performed on the Client’s management (directors, board members etc.), shareholders and ultimate beneficial owners (UBOs).

5.11.  When depositing funds into your Wallet via wire transfer, you may be required to provide proof of transfer.

5.12.  In accordance with AML regulations, we are committed to conducting transaction monitoring. We reserve the right to request additional information about the source of your funds and/or request additional documents.

5.13.  When the User purchases Virtual currencies using fiat via a third-party service provider such as Simplex or Transak, the KYC procedure will be conducted by the respective provider, and UAB Coinpal will not collect or process any KYC information in this model.

 

6.      ORDERS EXECUTION

 

6.1.  Any order you place to purchase or exchange Virtual Currency via the Website will be considered pending and incomplete until we receive the necessary funds or Virtual Currency confirmation (as applicable), as described below. The order will not be binding on us until we receive such payment confirmation or delivery confirmation from you.

6.2.  For FIAT Currency payments made using a credit/debit card or other methods (e.g., bank transfer), in Referral Mode, the payments are transferred to third-party service providers such as Simplex or Transak, who will deliver the Virtual currency upon receipt of FIAT Currency. In Self-operated Mode, UAB Coinpal processes the payments and delivers the Virtual currency directly.

6.3.  For purchases of Virtual Currency, the order is complete upon the actual receipt of FIAT Currency in our designated account.

6.4.  Purchase of Virtual Currency via the Company Website are considered as final. We do not accept any returns or provide refunds for your purchase of Virtual Currency via the Company Website except as otherwise provided in these Terms.

6.5.  The Company reserves the right to reject any cancellation request related to the order you have submitted.

6.6.  If you do not have sufficient amount of assets to execute an order, The Company may cancel the entire order, or execute part of the order with the amount of assets you have provided.

 

7.      PRICE AND FEES

 

7.1.  The sale prices of Virtual currency will be quoted in FIAT Currency as determined by The Company.

7.2.  You understand and agree that any price or rate of Virtual currency displayed on the Website is accurate at that moment only. This is attributed to the inherently volatile nature of Virtual currency prices and the time required for transaction completion. The duration may vary depending on the payment method and third-party payment processors utilized. The conclusive price of your transaction ("Final Price") will be the transaction rate presented on the Website upon execution and as indicated in the order transaction summary, with the transaction fee deducted.

7.3.  You understand and agree that the Final Price may be higher or lower than any previously available rate on the Website, due to fluctuations in value. We have no control over such fluctuations.

 

8.      MODIFICATIONS OF THE TERMS

 

8.1.  The Company reserves the right at any time to supplement, modify, amend or update these Terms and Conditions at its absolute discretion. The Company shall therefore, post the latest version of these Terms and Conditions its Website and such supplemented, modified or amended terms shall be effective as of that revision date. By continuing to use this Website following any such changes, implies that you agree to be bound by any such revisions. You should therefore periodically visit the Company’s Website to be duly informed as to the Terms and Conditions which currently apply.

8.2.  Unless otherwise specified in the Terms, we will notify you of any such amendment, modification, update or change by publishing a new version of the Terms on the relevant page of the Website and by email. Unless otherwise specified in the Terms, any new version of the Terms will take effect 14 (fourteen) days after its publication on the Website (or earlier if required by any law, regulation or directive which applies to either us or you). Your continued use of the Services after this period will be deemed to constitute your acceptance of such new version of the Terms.

 

9.      TERMINATION OF THE AGREEMENT AND ACCOUNT CLOSURE

 

9.1.  You agree that The Company shall have the right to immediately suspend your User Account (and any accounts beneficially owned by related entities or affiliates), and suspend your access to Company Services in lawful and reasonable cases including if The Company suspects any such accounts to be in violation of these Terms, our Privacy Policy, or any applicable laws and regulations. You agree that The Company shall not be liable to you for any permanent or temporary modification of your User Account, or suspension or termination of your access to all or any portion of The Company Services. The Company shall reserve the right to keep and use the transaction data or other information related to such User Accounts. The above account controls may be applied in the following (but not limited) cases:

  1. You have provided us with false or misleading information or documents and/or have not updated such documents and information within a reasonable period of time;
  2.      You use the Services for activities prohibited under these Terms and Conditions
  3. You are bankrupt or under liquidation or an officer who takes over maintenance of your assets is assigned to you.
  4.      You have suspended payment for services and have not repaid the debt within a reasonable period of time;
  5. You have committed a material violation of data protection laws;
  6.        Any statement of the Terms or the information provided is or becomes materially inaccurate or materially altered;
  7.      Validity of the Terms contradicts the requirements of the legal acts or causes us other adverse consequences that we could not have foreseen at the time of drawing up the Terms and Conditions and that we could not manage or avoid if the Terms and Conditions remain in force;
  8.      We terminate provision of our services or provision of certain services directly related to the contract, or we cannot provide such services due to other reasonable circumstances;
  9.        You have violated You violate any provision of these Terms, Applicable Laws or rules;
  10.        You use the Services for malicious, illegal or immoral purposes;
  11.      This is necessary for our own protection, including (but not limited to) the following circumstances: (a) protection against fraud or money laundering; (b) protection against your failure to fulfil obligations; (c) protection against market failure; (d) protection against adverse or volatile market conditions; and (e) our protection against loss;
  12.        If your activities using our services could damage our business reputation;
  13.    We are requested to do so by any governmental or regulatory authority if that request is legally binding;
  14.      In cases where it turns out that you commit a criminal and/or unlawful activities while using the Services;
  15.      If Sanctions schemes imposed by the Republic of Lithuania, European Union or other jurisdictions to the Russia Federation, the Republic of Belarus or to other countries makes the execution of the Agreement impossible.
  16.      The User Account is subject to a governmental proceeding, criminal investigation or other pending litigation;
  17.      We detect unusual activities in the User Account;
  18.        We detect unauthorized access to the User Account;
  19.       It is required by a competent authority
  20.        It is required by Applicable Law

9.2.  In case of any of the following events, The Company shall have the right to directly terminate these Terms by cancelling your User Account:

  1. After The Company terminates Services to you;
  2.      You allegedly register or register in any other person’s name as a The Company User again, directly or indirectly;
  3. The information that you have provided to the Company is untruthful, inaccurate, outdated or incomplete;
  4.      When these Terms are amended, you state your unwillingness to accept the amended Terms by applying for cancellation of your User Account or by other means;
  5. You request that The Company Services be terminated;
  6.        Other circumstances that are indicated in the paragraph 9.1 of these Terms.

9.3.  You have the right to terminate these Terms at any time by discontinuing the use of Our Services and/or closing your Account. Once your Account is closed, you will no longer have access to any of our Services.

9.4.  The Company may terminate these Terms without providing justification by giving you advance notice of at least 14 days.

9.5.  If The Company is informed that any Virtual currency or funds you have used for our Services are stolen or otherwise are not lawfully possessed by you, The Company may, but has no obligation to, place an administrative hold on the affected funds and your User Account. If The Company does lay down an administrative hold on some or all of your funds or User Account, The Company may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to The Company has been provided to The Company in a form acceptable to The Company. The Company will not involve itself in any such dispute or the resolution of the dispute. You agree that The Company will have no liability or responsibility for any such hold, or for your inability to withdraw Digital Assets or funds or execute trades during the period of any such hold.

9.6.  Except as set forth in paragraph 9.7. below, once a User Account is closed, all remaining charges and liabilities owed to The Company will be payable immediately to The Company.

9.7.  The Company maintains full custody of Virtual Currency, funds and User data/information which may be turned over to governmental authorities in the event of The User Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these Terms.

 

10.  RISK FACTORS

 

10.1.  Investment in stablecoins or crypto-assets is highly risky and you may suffer a total loss of the funds you exchange and you should only transmit funds if you have the financial resources to sustain a total loss of such funds.  Any indicated APY is Prior to making any investment you should seek independent, financial, legal and tax advice from a qualified and competent professional.

10.2.  In particular, you understand and acknowledge that:

  1. Immature and volatile market: The markets for digital assets are nascent and highly volatile due to factors such as adoption, speculation, technology, security, and regulation. Market prices may fluctuate dramatically over short periods of time and liquidity may be withdrawn suddenly an unexpectedly from any market or protocol
  2.      Unregulated market: DeFi is totally decentralised and not subject to any centralised control or supervision from a central regulator such as a Central Bank or the SEC. Investors do not therefore benefit from any regulatory protections.
  3. Interoperability risk: DeFi protocols are built on the blockchain and allow for interoperability between different protocols. The combination of DeFi protocols increases the complexity and exposure to vulnerabilities of each platform.
  4. Stablecoin risk: Stablecoins may not be fully or adequately collateralised, are subject to price fluctuations and may lose their peg to the underlying fiat currency resulting in a total loss of value.
  5.        Smart contract risk: The Service utilises smart contracts to “yield farm” by investing into liquidity pools or peer to peer lending or other uses to obtain tokens or other incentives in order to generate APY. Smart contracts are deterministic in that they execute automatically, meaning that errors within the code are impossible to rectify. They are also subject to vulnerabilities such as hacking and rely on external data feeds known as “oracles” which may be manipulated.
  6.      Impermanent loss risk: Liquidity pools involve the risk of “impermanent loss” created by the use of automated marker maker, or “AMM” as prices fluctuate due to trading activity in the market which would crystallise if the assets were removed from the liquidity pool.
  7.      Cryptographic risk: The cost and speed of transacting with cryptographic and blockchain-based systems such as Ethereum are variable and may increase dramatically at any time.
  8.        Regulatory risk: DeFi is subject to regulatory change which might result in increased costs,  restrictions on our ability to conduct business, one or more yield farming techniques no longer being available each of which may have an adverse effect on our ability to provide the Service or generate APY.
  9.        Network and system risk: Using an Internet-based platform such as the Services, including, but not limited to, the failure of hardware, software, and Internet connections. Internet-based platforms such as the Application involve risks including, but not limited to, the failure of hardware, software, and Internet connections.

 

11.  ACCOUNT SAFETY REQUIREMENTS

 

11.1.  The User Account can only be used by the account registrant. The Company reserves the right to suspend, freeze, or cancel the use of User Accounts by persons other than the account registrant. If you suspect or become aware of any unauthorized use of your email address or verification code, you should notify The Company immediately.

11.2.  The Company assumes no liability for any loss or damage arising from the use of The User Account by you or any third party with or without your authorization.

11.3.  The Company maintains the security of funds in transit for cryptocurrency purchases, employing industry-standard protection. However, users must protect access to their email account and ensure that verification codes are not shared with unauthorized parties. Users are responsible for securing their User Account and personal information.

11.4.  Users are solely responsible for safeguarding their email account and ensuring the secure handling of verification codes. All transactions under the User Account are the responsibility of the account holder. The Company accepts no liability for any loss due to authorized or unauthorized use of verification codes or actions taken through the platform.

11.5.  By using the User Account, you hereby agree that:

  1. you will notify The Company immediately if you are aware of any unauthorized use of your email address or verification code or any other violation of security rules;
  2.      you will strictly abide by all mechanisms or procedures of The Company regarding security, authentication, trading, charging, and withdrawal; and
  3. you will take appropriate steps to secure access to your email account and handle verification codes responsibly.

 

12.  PROHIBITED ACTIVITY

 

12.1.  You agree not to engage in, or attempt to engage in, any of the following categories indicated below of prohibited activity in relation to your access and use of the Website.

12.2.  Cyberattack. Actions aimed at disrupting or damaging the integrity, security or functionality of any computer, server, network, personal device, or other information technology system, including (but not limited to) the deployment of viruses and denial of service attacks.

12.3.  Data Mining or Scraping. Activity that involves data mining, robots, scraping, or similar data gathering or extraction methods of content or information from the Platform.

12.4.  Fraudulent content. Conduct aimed at defrauding us or any other person or entity, including (but not limited to) providing any false, inaccurate, or misleading information in order to unlawfully appropriate third-party assets or otherwise obtain a pecuniary advantage.

12.5.  Market Manipulation. Activity that violates any applicable law, rule, or regulation concerning the integrity of trading markets, including (but not limited to) the manipulative tactics commonly known as “rug pulls”, pumping and dumping and wash trading.

12.6.  Sale of Stolen Assets. Buying, selling, or transferring of cash, crypto-assets, Virtual currency  or other items which have been stolen or obtained by fraud, deception or without authorisation or proper disclosure or otherwise acquired through illegal means.

12.7.  Intellectual Property Infringement. Activity that infringes on or breaches any copyright, trademark, service mark, database right, patent, image right, right of privacy, or other proprietary or intellectual property rights under any applicable law.

12.8.  Any Other Unlawful Conduct. Activity that violates any applicable law, rule, or regulation of a relevant jurisdiction.

 

13.  APPLICABLE LAW AND DISPUTES

 

13.1.  These Terms are drawn up in accordance with the legal acts of the Republic of Lithuania. The legal acts of the Republic of Lithuania shall apply to these Terms.

13.2.  It is your responsibility to abide by local laws in relation to the legal usage of Company Services in your local jurisdiction as well as other laws and regulations applicable to you.

13.3.  You must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities.

13.4.  All Users of Company Services acknowledge and declare that their funds come from legitimate sources and do not originate from illegal activities. Users agree that The Company will require them to provide or otherwise collect the necessary information and materials as per relevant laws or government orders to verify the legality of the sources and use of their funds.

13.5.  By accepting The Terms, you acknowledge that you aware of sanctions schemes imposed by the Republic of Lithuania, European Union or other jurisdictions to the Russia Federation, the Republic of Belarus or to other countries. You agree to follow and not to violate mentioned sanctions schemes while using the Services.

13.6.  Any disputes between you and The Company shall first be settled by negotiations. If we are unable to settle the dispute by negotiations, you can file us a complaint free of charge by post or email. We will ask you to provide your company’s name, representative’s name, contact information and any information that gives you reasonable grounds to believe that we have violated your rights and legitimate interests in providing our Services. If you want to file a complaint by email, please send it to this email address [email protected].

13.7.  If the dispute cannot be settled by negotiations, the dispute may be settled in the competent court of the Republic of Lithuania.

13.8.  We may withhold your funds/assets and/or freeze your User account related to the dispute until the dispute is settled.

 

14.  MISCELLANEOUS

 

14.1.  Additional Policies that Apply to You

These Terms and Conditions refer to additional terms which also apply to the User’s use of this Website being (a) our Privacy Policy and (b) our Cookies Policy. We therefore, strongly advise you to read both policies before using or continuing to use our Website.

14.2.  Personal Data and Privacy policy

The Company may request from you some personal information (such as name, surname, contact details etc.) through this Website. In doing so, the Company is committed to the protection, in the highest degree possible, of the User’s personal data and undertakes to lawfully process these data in accordance with, and pursuant to, the applicable laws of Lithuania on data protection and the General Data Protection Regulation (EU) 2016/679 (known as GDPR) as amended from time to time.

Any personal information you provide us will be treated as strictly confidential and shared only within the Company and its affiliates, business partners, associates and service providers. The Company undertakes not to disclose your personal data to any third party unless such a disclosure is required by the Law, or under any regulatory & legal proceedings, or if the User provides prior written consent.

 

We strongly advise you to read our Privacy Policy which contains detailed information about how we collect, use, process and disclose your personal data as well as to understand your rights in respect to it. It will help you better understand our practices.

 

14.3.  Copyright, Trademarks and Intellectual Property Rights

Unless stated otherwise, you agree that all the content, information, data, images, text, graphics, design, materials, products, and services provided on this Website, including all logos, copyrights, trade secrets, trademarks, patents, and any other intellectual property that appears on this Website, belongs to and is the property of the Company, and/or its subsidiaries, sister companies, affiliates, directors, officers, employees, agents, suppliers, licensors or business partners. All rights are reserved.

You agree that you will not copy, download, duplicate, transfer, transmit, store, modify, reuse, license, publish or republish, post or repost, produce or reproduce, distribute or redistribute the Company’s intellectual property in any way, including electronic, digital, or new trademark registrations, without the prior written consent of the Company.

 

Your access and/or usage of this Website should not be construed as granting, by implication or otherwise, any license or right to use any trademarks or intellectual property appearing on the Website.

 

14.4.  User Accounts

As a User of this Website, you may be asked to provide private personal information and data such as: name, surname, email address, etc., during the account creation process. No password is required for account creation; instead, your account will be secured through the use of a verification code sent to your provided email address.

14.5.  Suspension

We may suspend your access or use of the Website immediately, with or without notice to you, and without any liability, if we determine that your access or use of the Website presents a threat or security risk. The suspension could be temporary or indefinite depending on the nature of the threat.

14.6.  Links

The Website may contain Links to other third-party websites. These Links are not under the ownership and/or control of the Company and thus the Company is not responsible for the completeness, accuracy, lawfulness or reliability, including but limited to, the text, logos, information, content, changes, updates or any other links contained in the third-party site. Moreover, where the Company provides these Links, it does so only as a convenience and because we believe in good faith that such a website contains or may contain information and material which you may find useful. The inclusion of any Links on the Company’s Website does not imply any kind of review, approval or endorsement of the third-party’s website or its contents on our behalf.

Accordingly, the Company or any of its subsidiaries, affiliates, business partners, related companies and employees shall be held responsible for the information and content of the third-party site, or any other website, including any website through which you may have gained access to our Website, or to which you may gain access from our Website. We do not accept any liability in connection with any such websites or third-party links.

14.7.  Force Majeure and Events Beyond our Reasonable Control

The Company will not be held responsible for any delay or failure to comply with our obligations under these Website Terms and Conditions if the delay and/or failure arises from any cause which is beyond our reasonable control, including but not limited to, natural disasters, war, terrorist acts, industrial disputes, strikes, power outage, legislation and regulation from national, foreign and international administrative, civil or judicial authorities. In the case of a force majeure event, the Company will take the actions and measures that are reasonably necessary to limit the negative consequences of such a situation.

14.8.  Indemnification

 

  1. You hereby agree to indemnify and hold the Company and its owners, operators, officers, directors, employees, agents, subsidiaries, affiliates, business partners, related companies harmless, from and against all legal claims and demands that may arise from:
  2.      Your violation of any of these Terms and Conditions;
  3. Your violation of any of the Company’s copyrights, intellectual property rights, property or privacy rights;
  4.      Your use or misuse of our Website.
  5. We reserve the right to select our own legal counsel. This indemnification obligation will survive these Terms and Conditions and your use of the Website.

 

14.9.  Exclusion and Limitation of liability

The information provided on this Website is believed to be true, accurate, and reliable when posted; however, the Company cannot guarantee that the information provided on this Website will be accurate, complete, and current at all times. In no event will the Company be liable to the Customer, User, or any other persons for any direct, indirect, special, or other consequential damage, loss of profits, damage to reputation, or any other damage and/or loss sustained of whatsoever nature which results from reliance on information contained on this Website, or is related to the use of this Website, or use of any other Link on this Website. Furthermore, the Company is not responsible for how you use, transfer, store, or otherwise interact with the Virtual Currencies purchased through our Services. Once the Virtual Currencies are delivered to your designated Wallet, all related risks and responsibilities lie solely with you. It is your obligation to ensure compliance with applicable laws and regulations in your jurisdiction when using the purchased Virtual Currencies.    

14.10.  Changes or Updates to this Website

The Company may update or change this Website from time to time in order to reflect any changes in the Company’s products, services, business activities or the Users’ needs. Accordingly, as a result of changes taking place, technical errors, operational reasons or maintenance, the Website (or parts of it) could be temporarily unavailable or interrupted.  In such a case, we shall try to give you a reasonable notice prior to any changes however, this cannot be guaranteed.

14.11.  Breach of these Terms and Conditions

In case of breach of these Terms and Conditions by any User, the Company may and will take all necessary actions to protect its rights. Accordingly, the Company reserves the right, in its sole discretion, to terminate your access to the Website and the related services or any portion thereof at any time, without notice.

14.12.  Severability

In the event that any provisions of these Terms and Conditions are found by any competent authority or court to be invalid, unlawful or unenforceable to any extent, such term or provisions shall to that extent be severed from the remaining terms which shall continue to be valid and enforceable to the fullest extent permitted by law.

14.13.  Assignment

The Company is allowed to assign, transfer or subcontract its rights and/or obligations under these Terms and Conditions without any notification or consent required.

14.14.  Entire Agreement

These Terms and Conditions constitute the entire agreement between the Company and the User in relation to the use of this Website, and it supersedes and replaces all prior terms and conditions, agreements and understandings. 

 

15.  Use of Virtual Currencies

 

15.1.  The Company’s Services are strictly limited to facilitating the purchase of Virtual Currencies (onramp services). Once the purchased Virtual Currencies are successfully transferred to your designated Wallet, the Company shall bear no responsibility for any subsequent actions, transactions, or uses of the Virtual Currencies.

 

15.2.  You acknowledge and agree that the use of Virtual Currencies may involve regulatory, financial, or legal risks. It is your sole responsibility to ensure that any use of the purchased Virtual Currencies complies with applicable laws and regulations in your jurisdiction.

 

15.3.  The Company does not monitor, control, or assume liability for any activities, transactions, or consequences resulting from your use of the Virtual Currencies after purchase.