TERMS OF USE OF SERVICE «BANKEX EXCHANGE»

Acceptance of Terms

Under “The Terms”, any person who uses the Service will be deemed a User and expressly and absolutely in agreement with the Terms of use of the Service «BANKEX EXCHANGE».

Any User who starts to use the Service confirms by their actions that they have read and accepted all the Terms and is bound to comply with them. If the User has any doubts or disagreements then he has no right to start using the Service, including registration on the website (if applicable), and creation of a personal account, among other actions.

Definitions

“Service” – Service «BANKEX EXCHANGE», which is provided to the Users in accordance with the Terms.

“Website” – www.bkxexchange.com

“User” – a person who uses the Service under the Terms.

“Counterparty” – a person who is the other side for deals.

“Company” – BKX Exchange limited, with its registered address at Orange Point Building, Second Floor, Dun Karm Street, Birkirkara By-Pass, Birkirkara, BKR 9037, Malta.

1. SERVICE OVERVIEW

BANKEX EXCHANGE is a trading platform where the Service Users can find information about actual cost of different crypto assets, make different transactions, including deals with other Users for crypto currency exchange, issue their own orders with benefic ial terms for the User as well as accept orders of other Contractors of this platform under their terms.

The Service accepts for accounts only a strictly limited range of crypto currencies supported by the service functionality:

  • Ethereum (ETH);
  • Bitcoin (BTC);
  • Bitcoin Cash (BCH);
  • Litecoin (LTC);
  • BANKEX (BKX).

Fiat money shall be neither supported by the Service nor allowed into an account. Likewise, the purchase and sale of crypto assets shall be neither performed nor supported.

Accept by the Service of certain crypto currencies shall not imply accept of all of its existing "fork" variations. Should a crypto currency undergo any exogenous "fork" variations, the service shall use its best efforts to carry out such change automatically for the crypto assets held by our service. However, due to the technical peculiarities of the blockchain system, the service gives no guarantees that such changes will be effectuated for all crypto assets.

PLEASE NOTE:

Unless the crypto currency sent by the User to our service for holding is supported by the service, the User may suffer a permanent loss of its funds transferred to the Service. BANKEX assumes no liability for suchacts of the User. The Service shall impose no restrictions on the volumes of as sets being transferred, but in certain cases there may be technical constraints related to very low volumes. The fee shall be charged for the Service as specified in the "Pricing" section. The Service may sometimes be unavailable due to force majeure. The Service shall not be held liable for any failure to perform its obligations beyond its reasonable control, including, but not limited to, acts of God, earthquakes, fire, floods, embargo, disasters, sabotage, national emergencies, riots, civil disorders, wars, viruses, strikes and labor troubles. The time for performance of the obligations hereunder shall be extended for the duration of a delay caused by a force majeure event.

2. REGISTRATION

The User may register on “BANKEX EXCHANGE” through our Website or mobile application. For this the User must complete the registration process on the Website, entering their e-mail and password. After registration the Service offers to User to pass KYC procedure. If User refuse to pass KYC procedure, then the Service would be available to the User in a view mode only, and the User could not execute any deposit or withdrawal transactions with his cryptocurrency assets.

3. ACCESS TO THE SERVICE

The User shall be allowed guaranteed 24/7 service access through the website and mobile applications.

The Service may suspend service access for any reasons related to necessary maintenance. Whenever such maintenance is scheduled, the User shall be given prior notice and informed of any such suspension.

The Service does not accept any assets in custody and does not process orders for withdrawal of assets for the period of such suspension. In this case, the Service notifies its clients about possible delays of order processing due to the maintenance works.

In case of emergency the service may limit service access as such emergencies occur. In this case "emergencies" primarily mean any and all circumstances which pose a threat to the integrity the Users' assets.

In restricting service access in case of emergency, the service shall suspend the acceptance of any requests from the Users (including placement and withdrawal requests), thus completely limiting service access for the Users.

The company shall be entitled to suspend the processing of any requests submitted by the User who breaches directions for use or commits any alleged fraudulent actions or other breaches of the relevant rules, laws or other applicable regulations. In this case, orders of such User are deleted from the system until all necessary details are c larified.

4. USAGE OF THE SERVICE

4.1. ALLOCATION OF FUNDS ON ACCOUNTS

Once the sign-up process on the Website and KYC procedure are completed, the User may transfer his cryptocurrency assets to the Service «BANKEX EXCHANGE» by way of transaction of his assets to the provided by the Service client’s account.

The cryptocurrency assets are reflected at the Service under the relevant status after its depositing by the User.

4.2. TRADING

You can use orders for purchase or sale of crypto currency in order to exchange crypto currency with other Users. The Users have the opportunity to create their own orders or to use orders of other Service Users to purchase or sell their crypto assets.

The order shall contain all neces sary conditions, including, but not limited to number of crypto assets, price of crypto asset, total cost including all fees and duties, etc.

4.3. ORDER EXECUTION

The orders may be executed as follows:

  • Full execution;
  • Partial execution;
  • Forced closing by the Service immediately after its issue;
  • Automatic closing by the Service due to term expiry;

Upon confirmation of transaction by the User, the order is executed fully or partially and crypto assets are transferred to the client accounts of theUsers exchanging the crypto assets.Upon exchange of the crypto assets they are displayed in the Service with respective status.If the order contains incorrect or false information, the Service closes it immediately after issue.If neither User accepts the order, the Service closes the order upon expiry of twenty-one (21) calendar days.If neither User accepts the order after its partial execution, the Service closes the order upon expiry of twenty-one (21) calendar days.

4.4. WITHDRAWAL OF FUNDS FROM ACCOUNT

4.4.1. After receipt of crypto assets as a result of exchange the User may withdraw the assets by their transfer to his/her personal crypto wallet.

4.4.2 The period of time for withdrawal of funds from the account may take up to 2 business days. The Service may set different time limits for asset withdrawals depending on the value of assets being withdrawn for each particular currency.

The User shall check correctness of addresses of his/her crypto wallets for withdrawal of assets. If addresses of crypto wallets are incorrect, we are not liable for such actions of the User when withdrawing his/her assets.

After a withdrawal request is accepted, the funds being withdrawn shall no longer be displayed in the relevant currency balance and an entry about the transaction being performed shall be displayed in the transaction history (showing the relevant statuses). No transaction and/or funds shall be displayed in the payee's account until the request processing is complete.

Transaction and holding fees may be charged in funds withdrawal (for details, see the "Pricing" clause).

4.5. TRANSACTION HISTORY

The entire history of crypto assets transferand withdrawal transactions shall be available to the User and the Counterparty for viewing.Transaction history isalsoaccessible here: https://scan.bankex.com4.6. CHECKING TRANSACTION STATUSWhile performing the agreement, the User may view all current statuses of all of its transactions.4.7. ACCOUNT MANAGEMENTWhile assets are being held in an account with our Service, the User shall not be allowed to access the account management option. Funds may only bewithdrawn in compliance with Section 4 of these Terms.

5. PRICES AND PRICING

5.1. GENERAL PRICING RULES

The Service shall be fee-based for all Users. The service price shall include the following fees:-fee for crypto asset exchange. The fee for cryptoasset exchange is calculated as % of the amount of all assets offered for sale and purchased. The fee for crypto asset exchange is charged automatically from the amount in the currency of the reference asset when executing the order for purchase and fromthe amount in the quoted currency when executing the order for sale. The fee is charged at the time of order executing by deduction of required amount for the amount of respective asset.If the storage fee is equal to the account balance, the fee is charged automatically.

5.2. FEE AMOUNT (PRICES):

  • fee for crypto asset exchange: 0.15% of the executed order amount;
  • fee for crypto asset depositing: not applicable;
  • additional service fees: not applicable

5.3. PROCEDURE FOR INFORMING USERS OF PRICE CHANGES

The Company shall inform the Users of any and all price changes by making the new version of these Terms available from the Service Website and the mobile application. Information about price changes may also be available in the form of information contained on the Website or in the mobile application.

6. DEACTIVATING THE SERVICE

User’s accountmay be deactivated by the User by submitting a request to the help desk. In order to repeat access to the service, the User must go through the entire process of registration again. The withdrawal of all funds of the User shall not cause the service to be automatically deactivated.

Terminations and Suspension

The Company has the right to terminate the Service in part or in full at any time for all or any Users, if it is deemed necessary in accordance with the requirements of the Law of any jurisdiction, or in accordance with any rules or regulation guidance, or in the economic interests of the Company.

Changes of Terms

The Service is regularly changed and improved due to the needs of the Users and Community and external circumstances, such as the requirements under the Law of any applicable jurisdictions, rules and regulations. Therefore, the Company has the right to amend the Terms. The amend ments are made by way of publishing the amended Terms on the website. The new Terms come into effect at the moment of its publication (unless otherwise stated in the new version of the Terms). The new Terms apply to all Users, including those who have previously used the Service. The continued use of the Service by the User means that the User automatically agrees with and accepts the new Terms. The partial acceptance of the Terms by the User is not valid, and if the User does not agree with any part of the Terms, then he shall stop using the Service.

Eligibility

Any User who starts to use the Service confirms that:

  • the User, when using the Service as an individual, has reached the appropriate age and has full and unlimited rights to use the Service; to conclude any agreements with legal obligations, including the possibility of making payments (if applicable); and the User does not violate by his actions any previous obligations; or
  • the User, if he uses the Service as a representative on behalf of a company, confirms that the company is a duly registered company without any limitations on its rights by laws of jurisdiction of the Company; the User does not violate by his actions any previous obligations; and the User has full legal capacity to act on behalf of the company, to conclude any agreements with legal obligations, including the possibility of making payments (if applicable);
  • the User confirms that there are no legal requirements or restrictions by Law of the country of his residence, which may restrict access to the Service; ownership of assets; restrict management or any deals with the assets.

Assumption of Risk

Any User who starts to use the Service assumes the risks related to the use of the Internet, including risks of unauthorized access to the User’s software and information, and risks to the User’s hardware and equipment. All the above-mentioned risks are out of the Company’s control and out of the range of the Service, but may relate to the content that the User has received access to through the Service. The Company has no ability to control these risks, and does not bear any responsibility, including financial responsibility, for the consequences of the realization of these risks.

Indemnity

The Company is not responsible for any loss of Users’ or third party’s, including information in the Content of the Service about the Users and third parties, or any loss of profit, that may arise as a result of any events that are not under the control of the Company, including, but not limited to the results of natural or man-made events (earthquakes, fires, floods, hurricanes, other emergencies, wars and conflicts, blockades, sanctions, political and economic restrictions, strikes, changes in legislation, man-made disasters), or the result of actions of third parties, including changes to service providers, software and equipment.

Limitation of Liability

Users and any third parties are forewarned and acknowledge that the Service and the Company are not independent, and whose actions aim to receive and use any information through the Service for it’s own benefit. The Company is not responsible for any possible violations of rights of Users or any third parties, including the information in the Content of the Service about Users and third parties, their rights on information (limited use or non-distribution of the information); violation of their copyrights; and violation of any restrictions that are related to the content of such information.

BETA VERSION, RESEARCH & DEVELOPMENT

Disclaimer of Warranties

The Company notifies all Users and Stakeholders that the Service is in Beta stage for the purpose of research and development and is only provided to you with the aim of launching experimental content; to gauge how it works; find out how to make our Service better and more comfortable for Users; and to receive feedback from users regarding the website and Service.

In connection with the above-mentioned information, the Service may have a number of functional limitations, and significant changes may be made to the Service operations. When beginning to use the Service, the User expressly agrees to an "AS IS" and "as available" basis, without warranties of any kind, either express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose or non-infringement. You acknowledge that we have no control over, and no duty to take any action regarding: which users gain access to or use the Service; what effects the Content may have on you; how you may interpret or use the Content; or what actions you may take as a result of having been exposed to the Content.

You release us from all liability for you acquiring or not acquiring Content through the Service. We make no representations concerning any Content contained in or accessed through the Service, and we will not be responsible or liable for the accuracy, copyright compliance, legality or decency of material contained in or accessed through the Service.

By utilizing the Service or interacting with the Content or platform in any way, you represent that you understand the inherent risks associated with cryptographic systems; and warrant that you have an understanding of the usage and intricacies of public/private key cryptography, native cryptographic tokens, like Ether (ETH), smart contract-based tokens such as thosethat follow the Ethereum Token Standard, and blockchain-based software systems.

You acknowledge that information you store or transfer through our services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third party providers, internet outages, force majeure event or other disasters, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our Services.

After you begin using the Service you can send feedback to the Company regarding how the Service works, or feedback, suggestions of Service development, or any analytical information. At the same time, the Company notifies all Users and Stakeholders that such information as well as User’s feedbacks are voluntarily and without any payment from the Company.

Your participation, via providing feedback or information, does not mean that the Company is entered into testing, employment, or any other type of reimb ursable agreement with you, and it does not mean that it would have any consequences.

Users and Stakeholders shall take into account that the provided feedbacks and information are accessible to employees and partners of the Company, and may become available to other Users and Stakeholders, or may be published by the Company, or may be otherwise disclosed. In connection with the above-mentioned we recommend you follow the ethical principles of communication, as well as requirements to the content of publicor non-public messages. Users and Stakeholders solely control their personal data, confidential information, or information that is not subject to disclosure. Users are solely responsible for content of their feedbacks, or possible disclosure of feedbacks, or suggestions to the development of the Service or analytical information.

Trademarks and other intellectual property rights

All Trademarks, Software and other copyrights provided on the website are the property of the Company and protected by trademark and copyright laws of different jurisdictions, and by international laws. Nothing in the Terms or other documents gives anyone more rights than provided in the Terms, including the right to copy and distribute the provisions of the Terms. While using the Service, Users are provided with a simple non-exclusive license that allows them to use the software of the Service with the express purpose stipulated in the Terms.

Third Party Services and Content

The company warns Users and Stakeholders that the Company may require registration on the website, or in the Services of the Company or third parties, or may require acquisition of software for the Company or services of third parties, but this does not mean that the Company forced Users to use the services of any third party. If it is technically possible and if it is not affected by the functions of the Service, the Company may provide the Service for Users without such registration or acquisition. The Company does not limit the list of the services of the third-party providers, software or other services. Only the technological parameters of the Service and mutual software with third parties may be held under limitation.

Governing Law

All relations between Parties are governed by the law of the country of the Company’s registration. All disputes shall be solved in form of claim and claim response. In cases where it is not possible to solve a dispute in that form, the dispute shall be referred to the court of the country of the Company’s registration.

Questions and Comments

You may send any questions and comments to the following contact details of the Company:

Email address: [email protected]