Introduction
This document outlines the essential components of the Terms of Service for using a digital asset trading platform. It is designed to provide a clear, accessible overview of the agreement between the user and the service provider. Please read these terms carefully before using the platform or any of its services.
Acceptance of Terms
By accessing, browsing, or using the platform, its application programming interface (API), or mobile applications, you irrevocably agree to be bound by these Terms of Service, which may be updated and revised from time to time. If you do not agree to any provision of these terms, you must not access or use any services and should leave the platform immediately.
The specific service provider you contract with depends on your jurisdiction and the date of your registration. Local terms may apply to users in certain regions.
Eligibility and Account Registration
To use the services, you must meet the following criteria:
- Be a natural person at least 18 years of age or a duly constituted legal entity.
- Not be resident in a prohibited jurisdiction or on any trade or economic sanctions lists.
- Provide accurate, complete, and current information during registration and identity verification processes.
- Use the platform voluntarily and not under the instruction of any other party.
You are responsible for maintaining the confidentiality of your passwords and login credentials and for all activities that occur under your account. You must notify the platform immediately of any unauthorized use of your password or account.
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Prohibited Businesses and Activities
The platform's services must not be used for any prohibited activities, including but not limited to:
- Unlicensed money service businesses or shell banks.
- Adult content and services, deceptive marketing, or regulated products without proper licenses.
- Sales of unlicensed weapons, counterfeit goods, or unauthorized items.
- Gambling, money laundering, fraud, terrorism financing, or any other financial crimes.
- Ponzi schemes, pyramid schemes, or market manipulation.
- Any activity that violates applicable laws or regulations.
The platform reserves the right to monitor transactions, suspend accounts, and report suspicious activities to the appropriate authorities.
Description of Services
The platform provides an online venue for users to hold and trade digital assets and/or their derivatives, where permitted by law. Services may include:
- An order matching platform for spot trading.
- Margin trading products (high-risk and subject to eligibility).
- API access for account operations.
The platform generally acts as a facilitator for user-to-user transactions. In certain limited circumstances, its affiliates may also trade on the platform. User assets are commingled and are not protected by deposit insurance schemes.
All orders are accepted and executed on a price-time priority basis. The platform does not guarantee the accuracy of information, the completion of orders, or the continuous operation of the services without interruption.
Risk Disclosure
Trading digital assets involves significant risk. The market is speculative, volatile, and largely unregulated. Key risks include:
- Market Volatility: Digital asset prices can fluctuate dramatically, leading to the potential loss of your entire investment.
- Technology Risk: Understanding digital assets requires advanced technical knowledge. Risks include network attacks, hard forks, and technological failures.
- Liquidity Risk: It may be difficult or impossible to buy or sell assets at a desirable price.
- Leverage Risk: Using leverage can magnify both gains and losses, potentially resulting in losses exceeding your initial deposit.
- Regulatory Risk: Changes in regulations can adversely affect the value of digital assets or your ability to use the platform.
- Custody Risk: Assets held by the platform or its third-party custodians may not be fully segregated and could be at risk in the event of insolvency.
You should only trade with funds you can afford to lose and ensure you fully understand these risks before proceeding.
User Obligations and Account Security
As a user, you agree to:
- Not register multiple accounts or use another user’s account.
- Use the platform only for its intended, approved purposes.
- Comply with all applicable laws and regulations.
- Be solely responsible for any losses resulting from your actions, including input errors, unauthorized transactions, or network issues.
- Verify all transaction details before confirming, as transactions are generally irreversible.
Fees, Service Modifications, and Termination
- The platform charges fees for its services, which it may change at its discretion.
- Fees are automatically deducted from your account balance.
- The platform may change, interrupt, suspend, or terminate the service or your access to it at any time and for any reason, including violations of these terms.
- You may close your account at any time by following the required process, settling all outstanding orders, and withdrawing your assets.
Liability and Indemnification
To the fullest extent permitted by applicable law:
- The platform and its affiliates are not liable for any indirect, incidental, or consequential damages arising from your use of the service.
- Your total compensation in relation to a claim may be limited to the value of the supported assets involved in the disputed transaction.
- You agree to indemnify and hold the platform harmless from any claims or losses arising from your use of the service, your breach of these terms, or your violation of any law.
Governing Law and Dispute Resolution
These Terms are governed by the laws of England and Wales. Any dispute, claim, or controversy arising out of or relating to these terms shall be resolved by arbitration in Hong Kong under the rules of the Hong Kong International Arbitration Centre (HKIAC).
You and the platform waive the right to a trial by jury and the right to participate in any class action, class-wide arbitration, or representative proceeding. All claims must be brought on an individual basis only.
Frequently Asked Questions
What happens if I don't agree to an update of the Terms?
If you do not agree to be bound by updated terms, your sole and exclusive remedy is to close your account within 30 days of the update notice. Continuing to use the service after this period constitutes your acceptance of the new terms.
Can I use the platform for my business?
No, unless explicitly authorized by the platform. The services and platform are provided for personal, non-commercial use only unless otherwise approved.
What should I do if I suspect unauthorized activity on my account?
You must notify the platform immediately via its official customer support channels. You are responsible for safeguarding your account credentials, and prompt reporting is essential to mitigate potential losses.
How are disputes between users resolved?
The platform is not liable for disputes between users. The service provides an execution venue, and users are responsible for their trading decisions and interactions.
Are my digital assets insured?
No. Digital assets held on the platform are not insured and are not protected by any deposit insurance scheme or securities investor protection regime. They may be commingled with other users' assets.
What is the process for recovering a lost password?
You must contact customer support to initiate a password recovery process. You will likely need to provide information to verify your identity as the account holder.