ACCEPTANCE OF TERMS OF SERVICE
The Service operated by Coinexy allows all registered users of the Service ("Members") to:
- Transfer virtual currencies (including, but not limited to Bitcoin, Ether, Litecoin and Doge) to you or other users of Coinexy
The information provided on this website does not constitute accounting, legal, financial, investment advisory or other professional advice. Coinexy will bear no responsibility for any loss or damage arising from decision to hold, purchase or sell virtual currencies on Coinexy.
By opening an account to use the Service ("Account"), You expressly represent and warrant:
- You have accepted these Terms;
- You are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction on Coinexy platform;
- You will not use the products and services to facilitate any illegal activities;
- You will not provide false information or refuse to provide information about your true identity; and
- Your account may be terminated if you breach any of these Terms.
The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.
It is very important to note the following risks:
- Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, virtual currencies is unique, in that they are backed by technology and trust;
- Virtual currencies may not be considered as legal tender in your country, and as such, accounts and value balances may not be subject to Government protections;
- Virtual currencies trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral;
- Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling;
- Transactions in virtual currencies is generally irreversible, and accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
- Transactions are deemed made when confirmed by the network and recorded in the “block chain” ledger, which may not necessarily the date or time that you initiate the transaction.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.
LIMITED RIGHT OF USE
Unless otherwise specified, all Materials on this platform are the property of Coinexy, and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this platform on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.
The trademarks, service marks and logos of Coinexy and others used in this platform ("Trademarks") are the property of Coinexy and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Coinexy. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other platform or networked computer for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.
MAINTAINING YOUR ACCOUNT: OUR RULES
This Site is for Your personal use only. We are vigilant in maintaining the security of our Site and the Service.
By registering with us, you agree:
- to provide Coinexy with current, accurate, and complete information about Yourself as prompted by the registration process, and to keep such information updated.
- that You will not use any Account other than Your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.
The creation or use of Accounts without obtaining the prior express permission from Coinexy will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others, or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such users being terminated. Termination is not the exclusive remedy for such a violation, and Coinexy may elect to take further action against You.
You also are responsible for maintaining the confidentiality of Your Account information, including your password, safeguarding your own wallet, and for all activity including Transactions that are posted to Your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from You, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, or accept termination of Your Account. You are required to notify Coinexy immediately of any unauthorized use of Your Account or password, or any other breach of security by email addressed to [email protected] Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Coinexy or any user of the platform.
Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. We will report all crimical activities to the law enforcement agencies.
You may terminate this agreement with Coinexy, and close your Account at any time, following settlement of any pending transactions.
We also reserve the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our platform or Service, or request to verify information to be able to continue using the Service. You agree that Coinexy will not be liable to them or to any third party for termination of their Account or access to the platform.
Unless with an acceptable reason, one person ID number is allowed to open one account only. We will close all other accounts and keep one active account only.
All services are provided without warranty of any kind, either express or implied. We do not represent that this platform will be available 100% of the time to meet your needs. We will strive to provide You with the Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.
EXTERNAL WEB SITES
Coinexy makes no representations whatsoever about any other Site which you may access through this platform. Coinexy may provide links or other forms of reference to other websites or resources over which we do not have control. In such case you acknowledge that Coinexy is providing these links or references to you only as a convenience. Coinexy is not responsible for the availability of, and content provided on, third party Sites. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
LIMITATION OF LIABILITY
To the extent permitted by law, Coinexy will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or willful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.
Subject to the foregoing, Coinexy's aggregate liability in respect of claims based on events arising out of or in connection with any user’s use of the platform and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the user making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) total amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
MODIFICATION OF TERMS
Coinexy reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.
Coinexy and its affiliates (hereinafter, "the Company", "we", "us" or "our") are committed to protecting and respecting your privacy. In addition, we are subject to the Privacy Protection Act 2010 and the 7 Privacy Principles which form part of that Act.
"Personal Information" is information which identifies you personally or by which your identity can reasonably be ascertained. This may include your name, address, e-mail address, and other contact details.
- the kinds of Personal Information which we may collect about you and how it may be used;
- how your Personal Information may be disclosed to third parties;
- your ability to access, correct, update and delete your Personal Information; and
- the security measures we have in place to prevent the loss, misuse, or alteration of Personal Information under our control.
GATHERING AND USE OF PERSONAL INFORMATION
We may collect your Personal Information if you use this website, open an Account via www.coinexy.com or perform any Transactions on www.coinexy.com. We may also collect Personal Information about you from recordings of telephone conversations between us and you (or your representatives) and from publicly available registers.
Some of the Personal Information we collect is required by us to meet our legal and regulatory obligations (eg, information required to verify your identity). Otherwise, the Personal Information we collect is required in order for us to provide our services efficiently and effectively.
The types of Personal Information which we collect may include: your name; your photographic identification; your address; your phone number; your e-mail address; your banking details including account numbers; your date of birth; and information about your Transactions.
We may use your Personal Information for the following purposes:
- to allow you to open and operate an Account on Coinexy.com;
- to enable you to complete Transactions on Coinexy.com;
- to correspond with you in relation to your Account and your Transactions;
- to analyze use of our services we provide;
- as required for legal and regulatory purposes, including for dispute resolution purposes;
- to provide you with information about products, services and promotions that may be of interest to you, from ourselves and third parties;
- for market research e.g. surveying our Users needs and opinions on issues, such as our performance etc.
You should note that you are not obliged to give your Personal Information to the Company, but if you choose not to do so, we may not be able to provide our services, or your access to our services may be limited.
We may collect information about your computer, including where available your IP address, operating system and browser type, for system administration and security screening for customers who use VPN services, TOR, or any other similar service. This is statistical data about our users browsing actions and patterns and does not identify any individual.
DISCLOSURE OF PERSONAL INFORMATION
ACCESS AND CHANGING OF PERSONAL INFORMATION
You have the right to access the Personal Information we hold about you, and to require the correction, updating and blocking of inaccurate and/or incorrect data by sending an email to us. We will usually respond to your request within 14 days. You may also request the deletion or destruction of your Personal Information, your Account details or your Transaction details by sending an email to us. The Company will act on your request only when it is not inconsistent with its legal and regulatory obligations and compliance procedures. Upon your written request, we will inform you of the use and general disclosure of your Personal Information. Depending on the nature of your request, there may be a minimal charge for accessing your Personal Information.
We take reasonable steps to protect your Personal Information from misuse, loss, unauthorised access, modification or disclosure, including implementing appropriate security measures. The security measures in place will, from time to time, be reviewed in line with legal and technical developments. However, we give no guarantee that such misuse, loss, unauthorised access, modification or disclosure will not occur.
RETENTION OF PERSONAL INFORMATION
ACCESS RIGHTS TO PERSONAL INFORMATION
DEPOSIT AND WITHDRAW FEE
As most people using crypto currencies on a regular basis will know, sending funds over a blockchain requires a small transaction fee (Tx Fee) in order for the relevant mining network to prioritize and confirm the transaction. And from 1st August, 2018, Coinexy has just adjusted the deposit and withdrawal fee as following:
- BTC: 0.0001 BTC
- ETH: ETH
- LTC: 1%
- DOGE: 1%
POLICY WHEN MAKING AN ADVERTISEMENT OR TAKING A TRADE
Thank you for using Coinexy service for trading cryptocurrencies. Before you proceed, please take the following points into account:
- A trade in Coinexy is an exchange between the maker (who makes an advertisement) and the taker (who responds to that advertisement). Regardless of their role as buyer or seller, the taker will be charged 1% of that trade (fee included in the displayed price).
- The maker is fully responsible for the decision of the posted price. As a consequence, we will not cancel any advertisement that has been taken due to any reasons. We also won’t provide the contact information.
- In Coinexy we treasure integrity, fairness and respectfulness. Any proof of scamming, spamming or deliberate tricking will result in banned account forever without giving a clear reason and quarantined remaining balance. You may be required to resolve your old trades before continuing using the service. Please also consider your language when discussing with the other users or our supporters.
- One user can have one account ONLY during lifetime and all clone accounts will be banned forever. All clone accounts are not counted as referrals.
POLICY FOR TRADES
- A seller can only advertise the amount that is left in their wallet.
- The default setting for payment is 15 minutes. If the buyer does not send payment within payment window, the trade will be cancelled automatically.
- Both parties can enter in a dispute in an ongoing trade.
- If the buyer marks trade status as disputed, the buyer must upload the proof of transfer immediately. The seller has to respond as soon as possible. The seller will be summoned twice as a reminder. After 12 hours without any response from seller, we will release the cryptocurrency involved in the trade to buyer.
- If the seller marks trade status as disputed, the buyer must upload the proof of transfer immediately. The timeline for response of new user buyer (with less than 5 successful trades in Coinexy) is 1 hour and that of other buyers are 6 hours. If there is no response within this timeline, the trade will be cancelled and the bitcoin is unfrozen.
- The party that entered in a dispute can escalate the problem for a fixed fee of 1% from the cryptocurrency involved in the disputed trade. Our customer support will resolve the issue within 4 hours of escalation.
- If there is no escalation, disputed trades will be resolved within 3 days. Resolution will be based on evidential claim. The cryptocurrency will be released to whichever party with the stronger evidence.
- Trades older than 2 weeks (from the time the transaction was created to the present) will not be checked from customer support. It is your responsibility to set the payment window.
Cryptocurrencies are a non-refundable asset. You need to check your payment carefully before releasing the trade or you can open a dispute and ask more proof from buyer.
Coinexy act as an intermediary that only holds cryptocurrencies while a trade is ongoing. We do not hold any information regarding bank accounts. Our responsibility is solely to process cryptocurrencies to your provided wallet. We do not bear responsibility in the event that a transaction does not fall through, and for any reason, you did not receive the cryptocurrencies.
Providing fraudulent information or documents in a dispute or making false claims or otherwise trying to force a certain outcome of a disputed trade is considered a violation of this agreement.
POLICY FOR USERS COMPLAINTS
As a user at Coinexy, you are allowed to file a complaint against another user, if you suspect ongoing suspicious activities (spamming, scamming or any fraudulent dealings) from the account. You will be asked to provide evidence before the suspected account can be flagged.
If your account has been flagged for suspicious activity by another user, your account will be deactivated and investigated. During the investigation, your balance of cryptocurrencies will be freezed and you will not be able to enter into any trade. Procedures for investigation will take 5 working days to complete.
Before you proceed, please take the following consequences into account:
- In the case of a flagged account found guilty of fraudulent or illegal activities, the flagged account will be banned forever and we will deduct 50% from the account’s wallet for damages and expenses incurred during the investigation. 1% will be rewarded to the user filing the complaint. Further legal action may be taken on the user of the account.
- In the case of a flagged account found not guilty of fraudulent or illegal activities, the user who filed the complaint will be penalised up to 20% of their wallet balance and 2% will be rewarded to flagged account for damages.
We regard fraudulent or/and illegal activities as very serious matters. In order to maintain the security and accessibility of Coinexy, we reserve the right to request for further information from you if we suspect suspicious activity from your account. We rely on the trustworthiness and integrity of members of Coinexy to ensure that the platform is a safe place to trade.