Terms and Use

Welcome to KoinBX, a platform facilitating cryptocurrency trading. By accessing and using our services, you acknowledge your authority to accept these Terms & Conditions on behalf of yourself or the represented company. These terms govern all our services, and your utilization implies your agreement to comply with them. Throughout these terms, the terms "KoinBX," "us," and "we" refer to our website. You or the company you represent are referred to as "you."

These terms apply universally to all agreements with KoinBX and supersede any other terms of usage for the digital assets exchange platform provided on our website. The following Terms of Use, along with any expressly incorporated terms, are applicable to anyone accessing or using our services. By doing so, you consent to be bound by these terms. Additionally, specific features within the Services may have additional terms and conditions that you must adhere to while using those features.

Acceptance Of Terms

By accessing or utilizing our services, you acknowledge acceptance of this agreement, whether on your own behalf or on behalf of the entity you represent. You affirm and guarantee that you possess the right, authority, and capacity to enter into this agreement, representing either yourself or the aforementioned entity. If you are below the age of 18, refrain from accessing or using the services or accepting this agreement. Your agreement to all the terms of this agreement is a prerequisite for accessing or using the site.

Our services are exclusively intended for users aged 18 and above, meeting the criteria outlined in these terms. You assert and assure that you:
(a) are of legal age to establish a binding contract (at least 18 years old);
(b) have not previously faced suspension or removal from our services;
(c) hold complete power and authority to consent to these terms; and
(d) are not prohibited in your applicable jurisdiction from engaging in activities related to the services. Your commitment extends to providing current, comprehensive, and accurate information on your account.

Modification Of Terms

KoinBX reserves the right to modify its terms of service without prior notice. It is recommended to regularly review these terms for any updates. Your continued use of our services implies acceptance of any changes made. We may make these modifications for legal compliance, new features, or business practice adjustments. It is your responsibility to stay informed about these changes and agree to the amended terms through your continued use of the services.

Definitions And Interpretations

KoinBX is an Indian Cryptocurrency Exchange facilitating the secure buying, selling, and trading of digital assets.

Digital Currencies are encrypted tokens with specific values, issued and maintained in a decentralized manner, based on blockchain and cryptography.

Digital Assets encompass currencies, derivatives, or other digitized assets with specific values.

Spot Trading involves immediate buying and selling of assets at the current market rate (spot price). This method, favored by day traders, allows short-term bets with affordable spreads and no expiration date.

Content refers to information, text, graphics, or other materials uploaded by the Company or users, accessible to others on the Online Platforms.

Funds encompass both digital assets and fiat currency, depending on the context.

A Linked Bank Account is a bank account owned by an Indian user, held with a Scheduled Commercial Bank, and submitted during the activation process. References to "you" or "user" pertain to users of the Online Platforms and Services, while "we" or "us" refers to the Company, its subsidiaries, connected entities, and authorized assigns as the service provider.

Modifications To The Online Platforms

1. Our commitment involves maintaining the Online Platforms and their content with regular updates. However, we retain the right to edit, replace, or remove any content as necessary.

2. We do not provide assurances regarding the absence of errors or omissions in the Online Platforms or any featured content.

Accessing The Online Platforms

1. We cannot ensure continuous and uninterrupted access to the Online Platform. We retain the right to suspend, remove, discontinue, or modify all or part of the Online Platforms without prior notice. In the event of unavailability, we are not liable for any losses, including those resulting from Digital Assets' price volatility.

2. It is your responsibility to ensure that anyone using your internet connection is aware of and complies with these rules and other relevant terms and conditions when accessing the Online Platform.

Accounts

User Account Management: To utilize our Services, you must establish and maintain a User Account through the Services. Creating or managing your User Account involves providing specific information and documentation, including identity verification details.
1. Furnish comprehensive and accurate details during the creation and maintenance of your User Account.

2. Ensure the information provided remains complete and accurate at all times by promptly updating any changes.

3. Establish a distinctive and secure password for your User Account.

4. Safeguard the security of your User Account by preventing unauthorized access or use of your password.

5. Immediately inform us if you discover or suspect any unauthorized access or security breaches related to your User Account.

5. Immediately inform us if you discover or suspect any unauthorized access or security breaches related to your User Account.

6. Acknowledge responsibility for all activities occurring under your User Account, accepting the associated risks of both authorized and unauthorized access.

Advanced Security Measures: Optional enhanced security features, such as two-factor authentication, may be offered for your User Account. While encouraged, usage of these features is at your discretion. Whether you opt for enhanced security or not, ensuring the security of associated devices or accounts is your responsibility.

Identity Authentication: We reserve the right to conduct identity verification and screening procedures at our discretion. This may include checking information provided to governmental authorities. You may be required to furnish personal information, such as name, address, telephone number, email address, date of birth, passport number, and a government-issued ID photograph. By agreeing to this, you authorize us, directly or through third parties, to make necessary inquiries to verify your identity and combat fraud.

Account Activity Responsibility: You authorize us to accept and rely on agreements, instructions, orders, and actions initiated by anyone accessing your User Account, whether authorized or not. In the event of a compromised User Account, we will take reasonable steps to protect it upon receiving written notice from you. However, we shall not be liable for any losses resulting from unauthorized use of your User Account.

Usage Limits: Users are restricted to having only one account simultaneously. Creating an account for someone else is strictly prohibited. Furthermore, sharing, selling, borrowing, or disclosing account details to anyone other than the account holder is strictly prohibited.

Compliance: You are solely accountable for any obligations that have arisen prior to your termination. Additionally, we retain the right to deactivate your account in the event of any engagement in fraudulent activities

Referral

Once you open an account on our platform, you will be eligible to receive a referral amount. Note that this amount can only be withdrawn after completing at least one Crypto or Fiat deposit on our platform. This policy is in place to ensure that users actively engage with our platform and familiarize themselves with its features before receiving referral rewards.

We reserve the right to terminate or modify the referral program at any time, without prior notice.

We have temporarily stopped the referral program and welcome bonus in the following countries.

Rwanda
Burundi
Bangladesh

Prohibited Activities

You are prohibited from engaging in the following activities while using our Services:

i) Violating any applicable law, statute, or regulation, or assisting others in doing so;

ii) Knowingly attempting to deceive KoinBX or any other user;

iii) Providing false, unauthentic, incorrect, or misleading information;

iv) Exploiting technological defects, malfunctions, failures, delays, or security breaches for trading purposes;

v) Taking actions that disrupt our system or data;

vi) Engaging in illegal behaviour;

vii) Attempting to gain unauthorized access to other KoinBX Accounts, the Services, or any linked networks or systems;

viii) Collaborating with third parties to act against KoinBX or as an intermediary;

ix) Using the Services for conduct harmful to KoinBX, any other user, or any other third party;

x) Hacking other users' data;

xi) Uploading or transmitting messages, photos, videos, or other media containing illegal goods, pornographic, violent, obscene, or copyrighted images or materials as avatars or in connection with payments or payment requests;

xii) Defaming, harassing, or violating the privacy or intellectual property rights of KoinBX or any other user;

xiii) Uploading, sending, or distributing computer viruses, worms, or other software intended to harm or alter computer systems or data through the Services;

xiv) Attempting to decompile, disrupt, or interfere with the functionality of our system, third-party use of the Services, or third-party data contained in the Services;

xv) Using the Services to develop a rival product or service, or replicate ideas, functionality, or images.

xvi) Shell Banks or financial institutions with customers that are Shell Banks;

xvii) Entities with bearer share ownership;

xviii) Individuals who are involved in fraud, gambling, terrorist financing, money laundering, or distributing or funding drugs and drug paraphernalia are not allowed to participate.

KoinBX Wallet

Once your User Account has been created and activated, you will have a default Wallet in your account dashboard. This wallet lets you send, receive, and store Fiat and Digital Assets that the Online Platform support. Before you execute a trade, you must have a minimum level of funds in your Wallets. We reserve the right to refuse to execute any order or transaction initiated by you if it violates the AML Policy or if it is required to comply with the orders of authorized enforcement authorities.

User Representations, Covenants, And Obligations

These terms outline your obligations and regulate your conduct on online platforms. By proceeding, you confirm that you have read, comprehended, and agreed to the following:

1. If a sanctions program or similar government sanctions require us to restrict cash or digital assets associated with your user account or linked bank account, we reserve the right to:
(i) suspend your user account or linked bank account;

(ii) terminate your user account or linked bank account;

(iii) return cash or digital assets to their original destination or a government-designated account;

(iv) impose a time limit on withdrawing cash or digital assets from your user account or linked bank account. We bear no responsibility for any direct or indirect losses resulting from compliance with applicable laws, regulatory authority or government agency guidance, or any legal orders such as writs of attachment, liens, levies, subpoenas, warrants, or others.

2. You are solely responsible for creating and maintaining all content in your account.

3. You are responsible for securing the password used to access services and any activities under your account. We recommend using strong passwords. The company is not liable for losses due to failure to follow this guideline. Deleting your account results in the permanent loss of digital assets.

4. You agree to provide truthful and accurate information, including identification documents, to the fullest extent possible.

5. Orders placed on the exchange may not be cancelled, but we may, at our discretion, allow cancellation of partially executed orders. Once an order or transaction is placed, it cannot be changed.

6. Sufficient funds in your wallets are required before initiating any order or transaction. The company may cancel your order or perform a partial transaction if funds are insufficient.

7. You acknowledge potential taxes on digital asset trading and accept responsibility for determining your tax liability in line with applicable laws. Any taxes incurred due to your use of services are solely your responsibility.

8. Acknowledge that the market rate for your order/transaction may vary due to the volatile nature of digital asset prices.

Account Security

KoinBX prioritizes user fund security with industry-standard measures. Users must ensure their account and personal information security. KoinBX is not responsible for losses due to authorized or unauthorized account use. By creating a KoinBX account, users agree to promptly report unauthorized logins, adhere to KoinBX policies, and log out after each session.

Disclosure of Risks in Trading Assets: Cryptocurrency

1. Engaging in Digital Asset trading carries the potential for substantial financial losses. Prior to trading, it is crucial to assess your financial situation and risk tolerance, considering the following risks:

2. Due to the current lack of regulation, trading, holding, and transferring certain digital assets may become illegal in the future. Seeking legal advice before using online platforms is advisable.

3. The value of Digital Assets is highly volatile, and the risk of losing all invested funds is significant. Liquidating positions may be challenging or impossible under specific market conditions, such as during market disruptions or force majeure events.

4. Digital assets lack backing from central banks or financial authorities, leaving no third party to intervene in the event of a global or regional crisis.

5. Online storage makes Digital Assets susceptible to security breaches and government actions, potentially compromising the integrity or anonymity of the underlying system.

6. Recognize that the provided list of risks associated with Digital Asset trading is not exhaustive, and there may be unforeseen risks.

7. By registering for a User Account, you confirm careful consideration of your financial situation and risk tolerance, asserting your qualification for Digital Asset trading.

8. Acknowledge the significant risk of loss in trading or holding Digital Assets through the Services. You are aware of the associated risks and agree that We are not liable for any unfavorable consequences. Detailed risk disclosure is available via a provided link.

Fees

You agree to pay the fees and charges outlined on our website for utilizing our services. Following the completion of a service, you consent to the deduction of fees from your account. KoinBX retains the right, as per the terms of this agreement, to modify fees or pricing principles at any time.
1. The creation of an account on the Online Platform is free of charge.

2. Each transaction conducted on the Online Platform is subject to a transaction fee ("Transaction Fee"). This may encompass costs for both incoming and outgoing transactions, along with share-based fees for executed trades. The Fee Schedule specifies the Transaction Fee for each trade.

3. Fees may apply when depositing or withdrawing a supported cryptocurrency from your wallet to another exchange. No fee is incurred for transactions within your exchange.

4. If your account balance falls below the minimum withdrawal amount, we cannot process your withdrawal request. It is essential to ensure that your account balance exceeds the minimum withdrawal amount along with any applicable network fees.

Intellectual Property Rights

1. Unless explicitly stated otherwise, all content on the Online Platform belongs to the Company and is safeguarded by copyright, trademark, and other applicable laws

2. All logos, trademarks, service marks, and logos of both the Company and third parties featured on the Online Platforms and website ("Trademarks") are the exclusive property of the Company and their respective owners. Unauthorized copying, reproduction, or use of these Trademarks is strictly prohibited without our written consent.

3. Users are prohibited from recreating or decompiling any part of the Online Platforms for any purpose. Engaging in such activities will be considered a significant violation of the Terms, potentially resulting in the termination of the defaulting user's account by the Company.

4. Third-party intellectual property, including software utilized for creating or distributing Digital Assets, may be present on the Online Platforms. The Company does not hold any rights to such third-party intellectual property and is subject to the license conditions for such intellectual property, which users are also obligated to adhere to under these terms.

Disclaimer Of Reliance On Information

1. The content provided on the online platforms is intended solely for educational purposes and should not be construed as investment advice to be relied upon. Before making any decisions based on the content found on the Online Platforms, it is advisable to seek professional guidance. All transactions are executed online.

2. The platforms automatically execute trades according to our procedures and the parameters of your order instructions. You bear sole responsibility for determining the appropriateness of any investment, investment strategy, or related transaction based on your individual investment objectives, financial situation, and risk tolerance.

3. Some content featured on the Online Platforms is not our own, and the person/entity making it public assumes full responsibility. The content, including text, audio, video, images, graphics, and visuals, is provided strictly for informational purposes and does not constitute professional investment advice, suggestions, or recommendations. It is emphasized that the Company does not offer investment or financial advice to its users.

4. Any loss or harm resulting from reliance on information published on the Online Platforms is solely your responsibility. You acknowledge that the Company will not be held liable for any claims, losses, or responsibilities arising from your use of the information on the Online Platforms.

5. We may review content for legality or policy violations and reserve the right to remove or withhold display of content that we reasonably believe violates our policies or the law. However, this does not imply that we conduct a comprehensive review of all content.

6. We do not control the content of websites linked on the Online Platforms, and these links should not be construed as endorsements by us. We are not accountable for any loss or damage resulting from your use of linked websites.

7. While reasonable efforts are made to keep the information on the Online Platforms current, we make no express or implied representations, warranties, or guarantees regarding the accuracy, completeness, or timeliness of the content on the Online Platforms.

Disclaimer Of Warranties

1.KoinBX, along with its affiliates, and their respective shareholders, directors, members, officers, employees, agents, and suppliers/contractors, shall not be held liable for any indirect, consequential, or incidental damages arising from KoinBX services under any circumstances.

2.We do not provide a warranty regarding the virus-free nature of the website or server, and KoinBX does not guarantee protection against security breaches, cyber-attacks, or the loss of information/data due to any materials posted online.

3.Concerning the trading services provided under this agreement, KoinBX disclaims any warranty, including merchantability or fitness for a particular purpose.

4.We cannot assure that KoinBX will be error-free, and the availability and operation of all our services at all times are not guaranteed. Additionally, we are not responsible for fluctuations in the value of cryptocurrencies.

5.Users are solely responsible for staying informed about daily updates.

Viruses

1. You are responsible for any introduction of viruses, trojans, worms, logic bombs, or other malicious materials. Unauthorized attempts to access the online platforms or associated servers are strictly prohibited and may violate applicable laws, including the Computer Misuse Act. Such breaches will be reported to law enforcement, and your access to the online platforms will be terminated immediately.

2. We are not liable for losses or malfunctions caused by viruses, denial of service attacks, distributed denial of service attacks, or other harmful elements resulting from your use of the online platforms or downloaded content.

3. It is advisable to use your virus prevention software, as we do not guarantee that downloaded files are free of harmful elements such as viruses, worms, trojan horses, or other contaminating programs.

Indemnification

You agree to defend, indemnify, and hold harmless KoinBX, its affiliates, and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers, and contractors (collectively referred to as "Indemnified Parties") from any claims, demands, lawsuits, actions, proceedings, investigations, liabilities, damages, losses, costs, or expenses, including reasonable attorneys' fees. This indemnification is related to (a) your use of or conduct in connection with the Services; (b) your violation of these Terms; or (c) your violation of any applicable law or the rights of any other person or entity. If you are obligated to indemnify any Indemnified Party, we, at our discretion, have the right to control any action or proceeding and to decide whether we want to settle and, if so, on what terms.

Suspension And Termination

Suspension or Termination of Services and Account: We reserve the right, at our sole discretion and without any liability to you, to temporarily suspend or permanently terminate your access to all or a part of any services, suspend your user account, and/or modify your account details, with or without prior notice.

Termination by User: You have the option to terminate your account at any time by withdrawing all balances and sending us a message through the contact page, expressing your intention to cancel your account.

No Liability: We shall not be held responsible for any losses you may incur as a result of service modifications, suspension, or termination of your access to any services. In the event of service resumption, you acknowledge that the valuations and exchange rates of your trading assets may vary significantly from their values prior to such an occurrence.

No Financial Advice

KoinBX explicitly states that it does not function as an intermediary, agent, broker, or advisor, and it bears no fiduciary relationship or obligation to you in connection with any trades or decisions made while using KoinBX services. Any communication or information provided by KoinBX should not be construed as investment advice, financial advice, or trading advice.

All trades are executed automatically, following the parameters specified in your order instructions, unless otherwise mentioned in the terms. It is your sole responsibility to assess the suitability of any investment, investment strategy, or related transaction based on your personal investment objectives, financial situation, and risk tolerance. You will be accountable for any resulting loss or liability in accordance with the posted trade execution procedures.

KoinBX emphasizes that it does not recommend the purchase, earning, sale, or holding of any digital asset. Prior to engaging in any such activities, it is advised that you conduct thorough research and consult with your financial experts. KoinBX disclaims any liability for decisions made to buy, sell, or hold digital assets based on information provided by the platform.

Compliance With Local Laws

Users are required to adhere to local laws governing the lawful use of KoinBX services in their jurisdiction, as well as any other applicable regulations. It is the responsibility of users to address issues related to taxation, withholding, collection, reporting, and remittance to their respective tax authorities, within the limits set by local laws.

All users of KoinBX services explicitly acknowledge and assert that their funds are derived from legal sources and are not a result of criminal activities. Users agree that KoinBX may necessitate them to provide the required information and materials, as mandated by relevant laws or government orders, to confirm the legality of their funds.

KoinBX adopts a collaborative approach with law enforcement authorities and reserves the right to seize, suspend, or delete user accounts and funds if they are identified or investigated in accordance with legal requirements.

General Information

The Terms of Use outlined herein establish a legally binding agreement between you and KoinBX, the operator of the KoinBX Platform. Through the utilization of any KoinBX Services provided on the KoinBX Platform, you explicitly confirm that you have thoroughly read, comprehended, and accepted all the terms and conditions articulated in these Terms of Use, in addition to our Privacy Policy.

Given that these Terms of Use create a binding contractual relationship, it is imperative that you carefully review these terms, along with any associated notices, prior to engaging with any of KoinBX's Services. By registering, accessing, browsing, or using the KoinBX Platform, you agree that you have read, understood and accepted all the terms and conditions contained in these Terms of Use as well as our Privacy Policy. If you disagree with these Terms of Use or our Privacy Policy, it is your responsibility to abstain from accessing, browsing, initiating account registration with KoinBX, or attempting to utilize any KoinBX Services.

Miscellaneous

i)Independent Parties: KoinBX operates as an independent contractor and not as an agent of yours in the execution of these Terms. These Terms should not be construed as evidence of an association, joint venture, partnership, or franchise between the parties.

ii)Entire Agreement: These Terms constitute the entire agreement between the parties concerning the use of KoinBX services and supersede all prior written or oral agreements. Trade practices or methods of dealing between the parties will not be used to modify, interpret, supplement, or alter the terms herein.

iii)Interpretation and Revision: KoinBX reserves the right to alter, revise, modify, and/or change these terms at any time. All changes take effect immediately upon publication on KoinBX websites. It is your responsibility to regularly check relevant pages on our websites/applications for the latest version of these Terms. If you disagree with any modifications, your only remedy is to terminate your use of KoinBX Services and cancel your account. Unless expressly provided in these Terms, KoinBX is not responsible for modifications, termination of services by you or any third party, or suspension or termination of your access to KoinBX Services.

iv)Force Majeure: KoinBX is not liable for any delay or failure to perform as required by these Terms due to causes or conditions beyond its reasonable control. v)Severability: If any portion of these Terms and Conditions is held invalid or unenforceable, it will not affect the other provisions, which will remain in full force and effect. vi)Assignment: You may not assign or transfer any right to use KoinBX or any of your rights or obligations under these Terms without prior written consent from KoinBX. KoinBX may assign or transfer its rights or obligations under these Terms without notice or obtaining your consent.

vii)Third-Party Websites: Links to third-party websites from KoinBX services do not imply endorsement by KoinBX. KoinBX is not responsible for the accuracy of information on third-party websites, and any loss suffered from their use is not KoinBX's liability. Additionally, since KoinBX has no control over the terms of use or privacy policies of third-party websites, it is advised to read and understand those policies carefully.

viii)Dispute Resolution: KoinBX does not encourage conflicts between buyers and sellers. In the event of any dispute, efforts will be made to resolve the disagreement amicably.

ix)Contact Information: For more information on KoinBX, refer to the company. Questions about these terms can be directed to the KoinBX Support Desk.