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Terms and Conditions 0 0

Last updated on May 29, 2019 02:59 in Privacy Terms & Conditions
Posted ByRexbit Support

TERMS OF USE

ACCEPTANCE OF TERMS OF USE - REXBİT LLC.

By using this website (“Site”), registering for a RexBit Account (“Account”) or using any other RexBit Services, you ("you, your, or yourself") are agreeing to accept and comply with the terms and conditions of use stated below ("Terms of Use"). You should read the entire Terms of Use carefully before using this Site or any of the RexBit Services.

As used in this Terms of Use, “RexBit" refers to the company RexBit Limited Liability Company, with its registered with the Registrar of Companies for England and Wales under the number 11568340 and with registered office at The Stenbock House Rahukohtu 3 15161 Tallinn Estonia, its owners, directors, investors, employees. Depending upon the context, "RexBit" may also refer to the services, products, website, content or other materials (collectively "RexBit Services") provided by RexBit.

The Service operated by RexBit allows buyers ("Buyers") and sellers ("Sellers") to buy and sell Cryptocurrencies such as "Bitcoins", XRP, Ethereum, Litecoin and Stellar.

The Service operated by RexBit also allows all registered users of the Service ("Members") to:

•             Transfer the above-mentioned Cryptocurrencies to other Members or other users of such cryptocurrencies outside the RexBit site.

•             Use Bitcoins or the other Cryptocurrencies for purchasing goods.

•             Access and use the Ripple system.

Depending on your country of residence, you may not be able to use all the functions of the Site. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access this Site and Services. As long as you agree to and comply with these Terms of Use, RexBit grants you the personal, non-exclusive, non-transferable, non-sublicensable and Limited Liability Company right to enter and use the Site and the Service.

IF YOU DO NOT ACCEPT THE TERMS OF USE AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE THIS SERVICE.

By opening an Account, you expressly represent and warrant:

•             That you have accepted these Terms; and

•             That you are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction involving Bitcoins, XRP, Ethereum, Litecoin and Stellar.

RISKS

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. Such price fluctuations may increase or decrease the value of 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.

Cryptocurrency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Cryptocurrencies are unique type of "fiat" currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of Cryptocurrencies in a crisis.

Instead, Cryptocurrencies are an as-yet autonomous and largely unregulated global system of currency firms and individuals. Traders put their trust in a digital, decentralised and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.

The trading of Cryptocurrencies is often susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Cryptocurrencies because of unexpected changes imposed by 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.

There may be additional risks that we have not foreseen or identified in our Terms of Use.

You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins, XRP, Ethereum, Litecoin and Stellar.

We use our banking providers in order to receive client funds and make payments. Our banking providers DO NOT transfer, exchange, or provide any services in connection with Cryptocurrencies.

LIMITED LIABILITY COMPANY RIGHT OF USE

Unless otherwise specified, all Materials on this Site are the property of RexBit and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational and/or non-commercial use, provided you comply with all copyright and other proprietary notices.

The trademarks, service marks and logos of RexBit and others used in this Site ("Trademarks") are the property of RexBit and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to RexBit. The Trademarks and Material 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 Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorised 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 and non-commercial use only. We are vigilant in maintaining the security of our Site and the Service. By registering with us, you agree to provide RexBit with current, accurate and complete information about yourself, as prompted by the registration process, and to keep such information updated. You further agree 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 unauthorised access.

The creation or use of Accounts without obtaining prior express permission from RexBit 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 (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and RexBit may elect to take further action against you.

You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Cryptocurrencies, and all activity including Transactions that are posted to your Account. Any actions on the Site, transactions, orders and operations initiated from your Account or using your password (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through 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 RexBit immediately of any unauthorised use of your Account or password, or any other breach of security, by email to [email protected] Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by RexBit or any user of the Site.

RexBit similarly reserves the right to freeze Ripple accounts in accordance with the new policy announced by Ripple Labs, which took effect on 15 September 2014. Please see the explanation provided by Ripple Labs below:

The freeze protocol extension gives gateways the ability to 1) globally freeze all their issued funds or 2) freeze funds issued to a specific user. Frozen funds may only be sent back to the issuing gateway. The global freeze feature allows a gateway to freeze all balances it issues. The gateway may still issue payments. Accounts holding frozen balances may return the funds to the gateway. This feature is useful for migrating users from one account to another and to safeguard users in the event that the gateway account is compromised. The individual freeze is primarily intended for compliance with regulatory requirements, which may vary from one jurisdiction to another. It also allows gateways to freeze individual accounts issuances in order to investigate suspicious activity. These features allow gateways to better operate in compliance with laws and regulations.

Lastly, you agree that you will not use the Service to perform criminal activity of any sort, including but not Limited Liability Company to, money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity.

The minimum allowable trade is USD 50.

VERIFICATION OF ACCOUNTS

The creation and use of your Account is subject to verifications, as required by statutory and regulatory obligations incumbent on RexBit. You agree to provide us with the information we request for the purposes of identity verification, compliance with know-your-customer rules, as well as detection of money laundering, terrorism financing, fraud or any other financial crime. The requested information may include Personal Data (please refer to our Privacy Policy). By providing us with the information we request, you confirm that it is true and accurate, and agree to inform us in case of change concerning such information. Your Account will be blocked until we will satisfied with the information you have provided and determine in our sole discretion that it is sufficient to validate your Account. In the meantime, you will not be allowed to terminate your Account or request the deletion of the Personal Data processed in the course of verification operations.

TERMINATION AND ESCROW OF UNVERIFIED ACCOUNTS

You may terminate this agreement with RexBit, and close your Account at any time, following settlement of any pending transactions.

You also agree that RexBit may, by giving notice, in its sole discretion terminate your access to the Site and to your Account, including without limitation, its right to: limit, suspend or terminate the service and Members' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we suspect that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation: (1) attempts to gain unauthorised access to the Site or another Member's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) a failure to pay or a fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies.

We expressly reserve the right to cancel and/or terminate Accounts that have not been verified by the Client despite efforts made in good faith by RexBit to contact you to obtain such verification (“Unverified Accounts”). All Unverified Accounts which have been inactive for a period of 6 months or more are further subject to transfer to a third-party escrow (the "Unverified Escrow”), and will no longer be maintained or under the legal responsibility of RexBit. The administrator/trustee of the Unverified Escrow shall make any and all additional reasonable efforts required by law to determine and contact each Unverified Account owner and, after suitable effort and time has been expended, we may be required to convert the residual Cryptocurrencies into fiat and send it to a national authority responsible for the safekeeping of such funds.

The suspension or escrow of an Account shall not affect the payment of commissions due for past Transactions. Upon termination, Members shall send details of a valid bank account to allow for the transfer of any currencies credited to their account. This bank account must be held by the Member. Bitcoins may be transferred to a valid bank account only after conversion into a fiat currency. RexBit shall transfer the currencies as soon as possible following the Member's request and within the time frames specified by RexBit.

RexBit will send you the credit balance of your Account; however, in certain circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will make all reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment; however, where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.

Upon Account closure, any amount less than USD 50 in value will not be returned.

RexBit reserves the right to not convert Cryptocurrencies into fiat and to return them to a Wallet that belongs to the Customer.

AVAILABILITY OF SERVICES

All services are provided without warranty of any kind, either express or implied, and in particular without implied warranties of merchantability and fitness for a particular purpose. We do not represent that this Site 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 a loss of transmitted information.

We will use reasonable endeavours to ensure that the Site can be accessed by you in accordance with these Terms of Use. However, we may suspend use of the Site for maintenance and will make reasonable efforts to give you notice of this. You acknowledge that this may not be possible in an emergency, and accept the risks associated with the fact that you may not always be able to use the Site or carry out urgent transactions using your Account.

APIS AND WIDGETS

We may provide access to certain parties to access specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and un-altered state.

EXTERNAL WEBSITES

RexBit makes no representations whatsoever about any external or third-party website you may access through the Site. Occasionally, the RexBit website may provide references or links to other websites ("External Websites"). We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from the RexBit website, including, but not Limited Liability Company to, website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services or actions and/or any damages, losses, failures or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.

External Websites have separate and independent terms of use and related policies. We request that you review the policies, rules, terms and regulations of each site that you visit. It is up to you to take precautions to ensure that whatever you select for your use is free of items such as viruses, worms, Trojan horses and other items of a destructive nature.

FINANCIAL ADVICE

For the avoidance of doubt, we do not provide any investment advice in connection with the Services described in these Terms of Use. We may provide information on the price, range and volatility of Cryptocurrencies that are available on our platform and events that have affected the price of such Cryptocurrencies, but this must not be considered investment advice nor should it be construed as such. Any decision to purchase or sell Bitcoins, XRP, Ethereum, Litecoin and/or Stellar is solely your decision and we shall not be liable for any loss suffered.

FINANCIAL REGULATION

Our business model and our Service facilitate the buying, selling and trading of Bitcoins and their use to purchase goods in an unregulated, international open payment system. The Services we provide are currently unregulated within the UK.

EMAIL

Unencrypted email messages sent over the Internet are not secure and RexBit is not responsible for any damages incurred by the result of sending email messages in this way. We suggest sending email in encrypted formats; you are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request.

If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels and you hereby accept the risks associated therewith.

DATA PROTECTION

Privacy is very important to us. Full details of our Privacy Policy can be found at Privacy Policy. We recommend that you read the Privacy Policy carefully, so that you know the data that we collect, how we use the data and who we share your data with.

DISCLOSURES TO LEGAL AUTHORITIES AND AUTHORIZED FINANCIAL INSTITUTIONS

We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:

•             Required by law;

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