Coinstockx, through its services, offers buyers (“Buyers”) and sellers (“Sellers”) the opportunity to purchase and sell Cryptocurrencies, ranging from “Bitcoins” to XRP, Ethereum, Litecoin as well as Bitcoin Cash. The type of Service offered by Coinstockx also gives access to all registered users (“Members”) of the Service to perform such tasks as:
- Transfer the cryptocurrencies mentioned above to other Members or other users interested in acquiring such cryptocurrencies, but are not present on the Coinstockx site, i.e., non-Members.
- Make payment for goods using these cryptocurrencies
- Access and make use of the Ripple system
By proceeding to open a Coinstockx Account, you unambiguously warrant and represent:
That you have read, understand, and accepted these Terms; and
That you are not under the age of 18 and possess the full capacity of acceptance of these Terms, as well as the capacity to enter into transactions involving cryptocurrencies like Bitcoins, XRP, Ethereum, Litecoin, and BitcoinCash.
There is always a significant risk associated with both real and virtual trading of goods and products, as well as cryptocurrencies. At any point in time, there may be price fluctuations, which may increase or reduce the value of your assets. All currencies, both virtual and real, may be susceptible to large swings in value and in some cases, worthlessness is a possible outcome. There is also a basic risk that you will encounter losses while trading – buying, selling or exchanging – anything on the market.
Trading with cryptocurrencies also brings about some special risks, unlike what is obtainable with official currencies or commodities or goods in a market. While real currencies are backed by governments or similar legal entities and commodities like silver and gold, only technology and trust are backing Cryptocurrencies. Hence they are a unique type of “fiat currency.” When a cryptocurrency crisis arises, there is no central bank with such powers as issuing more currencies or taking corrective measures to protect the currencies. Rather, cryptocurrencies are an as-yet autonomous and extensively unregulated system of currency for firms and individuals worldwide. When traders trade, they do so putting their trust in a decentralised, digital and partially anonymous system that works by peer-to-peer networking combined with cryptography to ensure its integrity.
In trading cryptocurrencies, there may be irrational (or rational) bubbles or a significant dip in confidence, thus leading to a large collapse in demand, and which in turn affects demand. For instance, there might be a breakdown in confidence in cryptocurrencies due to unforeseen changes caused by software developers or other stakeholders. It may be due to a government crackdown, the invention of a superior and more competitive alternative currencies, or a deflationary or inflationary spiral. Another cause of a breakdown in confidence may be due to technical problems, for instance, a situation where the anonymity of the system is compromised, if money is stolen or lost, or if there is a hackers’ invasion or government ban that led to a halt in all transactions.
LIMITED RIGHT OF USE
Except expressly stated otherwise, all Materials present on this Site remains the property of Coinstockx and are under the protection of copyright, trademark and related applicable laws. You are allowed to view, print and/or download a copy of the Materials presented on this Site on any private computer, and such must be ONLY for your personal, informational and/or non-commercial use, provided you are in full compliance with every proprietary and copyright notices.
The trademarks, service marks and logos of Coinstockx and others present in every part of this Site (“Trademarks”) remains the sole property of Coinstockx and their respective owners. The software, graphs, video, audio, images, data, prices, and trades used on this Site are properties of Coinstockx. The Trademarks and Material must not be reproduced, copied, uploaded, posted, modified, scraped, distributed or collected in any form or through any means, either automated or manual. Using such Materials on any other website or networked computer environment; as well as for other unapproved purposes is totally prohibited. In the event of such illegal use, it may violate copyright, trademark and other related applicable laws, and in some instances, lead to criminal or civil penalties.
ACCOUNT MAINTENANCE – OUR RULES
This Site must ONLY be used personally and non-commercially. Coinstockx remains vigilant in the maintenance of the security of our Service and Site. As a Member, you agree to give Coinstockx ONLY current, accurate and complete information on yourself, as and when due in the registration process, while also keeping such information updated. Furthermore, you agree NOT to use any other Account apart from yours, or access the Account of any other Member at any time, or aid any other party, Member on non-Member in gaining illegal access.
Creating or using /accounts without prior unambiguous permission from Coinstockx will lead to an immediate suspension of all Accounts involved, and pending all sale/purchase offers. Any attempt to do so, or to aid others (Members and otherwise), or distribution of instructions, tools or software for such purposes, will lead to the immediate termination of Accounts of all Members involved. Kindly note that Termination is not the highest punishment for such violation, it is in the sole discretion of Coinstockx to initiate further actions against you.
Keeping your Account and its details – password, safeguarding your Cryptocurrencies, as well as similar activities and Transactions happening on your Account - confidential is also your responsibility. All actions on the Site, transactions, orders and operations initiated from your Account and via your password (1) will be deemed as being initiated by you, and (2) are irreversible once confirmed via your password or approved via your Account. In the event of any unclean or suspicious activities concerning your Account, we MAY, but NOT OBLIGATED to, request extra information from you, as well as request you to re-authenticate your documents or to freeze all pending transactions until we are done with our review. You MUST comply with these and other security measures and requests; otherwise, your Account will be irrevocably terminated. You MUST notify Coinstockx immediately in the event of unauthorized use of your Account or password, or similar breach of security. Such notifications should be made through a message to email@example.com. We reserve the right to terminate any Member who violates these rules, as well as holding such Member responsible and liable for losses incurred by Coinstockx or any other user of the Site in the process. Coinstockx also reserves the right to freeze Ripple Accounts, in line with the new policy provided by Ripple Labs, which has taken effect since 15th September 2014. Kindly find the explanation, as rendered 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, as well as to safeguard them in the event that the gateway account is compromised. The only 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 to investigate suspicious activity. These features allow gateways to better operate in compliance with laws and regulations."
Conclusively, you consent that you WILL NOT make use of the Service in performing any criminal activity, including but not limited to, malicious hacking, terrorist financing, illegal gambling operations, money laundering or any other unlawful and criminal activity.
To trade on Coinstockx, the minimum trade allowed is USD 5.
TERMINATION AND ESCROW OF UNVERIFIED ACCOUNTS
You are empowered to terminate this agreement with Coinstockx or close your Account at any time, so far all pending transactions are settled. You also agree that Coinstockx, reserves the sole right, and in its discretion, to terminate your access to the Site and to your Account by giving a notice, including but not limited to, its right to: limit, suspend, or terminate the Services and Members’ Accounts, block access to the Site and its content, Services and tools, delay or remove all contents hosted, and initiate legal and technical steps to block off Members from the Site on the suspicion that their activities are creating [problems or probable legal liabilities, trespassing on the intellectual property rights of third parties, or perpetrating acts inconsistent with the letter, spirit or contents of these Terms.
Coinstockx unambiguously reserves the right, and the discretion, to cancel and/or terminate Accounts which are yet to be verified by the Client, despite efforts put in place by Coinstockx to get such clients to obtain such verification (“Unverified Accounts”). All Unverified Accounts that have not been in use for at least six months are further subject to transfer to a third-party escrow (the ‘Unverified Escrow”). Such accounts will no longer be under the maintenance or the legal responsibility of Coinstockx. Any or all extra reasonable efforts as stipulated by the law to contact each owner of these Unverified Accounts will be the responsibility of the administrator/trustee of the Unverified Escrow. On the exhaustion of such suitable efforts and time, we may be forced to convert the residual cryptocurrencies in such accounts into fiat and have it sent to the national authority in charge for keeping such funds.
When an Account is suspended or escrowed, it does not in any way affect the remittance of commissions due for past Transactions. For any terminated Account, the owner shall forward the details of a valid bank account to use in receiving of any currencies credited to such Account. Such a bank must be registered in the name of the Member. For Bitcoins, the transfer will only be made after the currency has been converted into fiat currency. These currencies shall be transferred as soon as possible, on the request of the Member and within the time frames stated by Coinstockx.
We will send you the credit balance of your Account; but, in certain cases, there may be the involvement of certain intermediaries, especially in the case of international payment and these intermediaries or the receiving bank may charge some fees. We will try our best to disclose such charges to you before transferring the funds, but where it is impossible to notify you of such, you, at this moment, acknowledge that such charges are undeterminable before sending, and you agree that such charges are your responsibility.
We shall not return any funds lesser than USD 5 in value from any closed Account. Coinstockx reserves the sole right to convert or not convert cryptocurrencies into fiat, or return them to a Wallet belonging to the Customer.
AVAILABILITY OF SERVICES
Note that there are NO warranties of any form – express or implied – and implied warranties of merchantability and fitness for a certain purpose. Furthermore, we do not promise the 24-hour or 100% availability of this Site always to meet your needs. However, we are entirely committed and will continuously strive to ensure that you vet the Service as soon as possible, in the event of an outage. We cannot guarantee uninterrupted access, or zero delays, failures, errors, omissions or a loss of transmitted information.
Coinstockx will use reasonable means to make sure that the Site is accessible by you in line with the stipulations of these Terms. Likewise, we reserve the right to suspend the use of the Site for maintenance, while we MAY give you prior notice of this. You at this moment agree that such notifications may not be possible in the case of an emergency, and also accept the risks linked to the fact that you may not always be able to access the Site or use it for urgent transactions via your Account
APIS AND WIDGETS
Coinstockx may offer access to specific parties to access certain data and information via API (Application Programming Interface) or via widgets. Likewise, we may also provide widgets for your use to enter our data on your Site. You are not restricted in using these, so far you are using them without modifying or altering them.
Coinstockx business model and Services facilitates the selling, buying and trading of Bitcoins and their applications in the buying of goods in an unregulated, international open payment system. Kindly note that the Services currently offered by Coinstockx are unregulated within the UK.
Kindly note that email messages that are not encrypted and sent over the internet are not secure, thus, Coinstockx will not be responsible for any damages incurred due to sending email messages via such medium. You are advised to send only emails that are encrypted (PGP encryptions are allowed). If you need keys and instructions on how to activate the encryption, kindly reach us with such request. In any event that you sent us unencrypted emails, we may reply via the same channel; thus you acknowledge that all risks involved in such transmission will be your responsibility.
DISCLOSURES TO AUTHORIZED FINANCIAL INSTITUTIONS AND LEGAL AUTHORITIES
Coinstockx may share your Personal Data with data protection authorities, government officials, Personal Data with law enforcement, and similar authorities if such is:
- Mandated by law;
- Compelled by court order, subpoena, or other legal procedure;
- Believed to prevent damage or financial loss once disclosed;
- Necessary to facilitate the report of suspected illegal activity; or
PERSONAL DATA SHARING INTERNATIONALLY
LIMITATION OF LIABILITY
To the extent of all law stipulations, Coinstockx will not be responsible for damages, loss of profit, revenue, business, opportunity, data; either consequential or indirect, except the loss arose from negligence, fraud or wilful deceit. Nowhere in these terms excludes or limits the liability of either party for fraud, death or personal injury arising from its negligence, breach in terms stipulated by operation of law or any other liability which may not be excluded or limited by law. While Coinstockx will always try to offer error-free and timely information on the site, we are not assuring that the Site will be entirely complete, accurate or current, and as such, may contain errors. We reserve the right to change or update the contents of the Site at any time WITH or WITHOUT notice. You are also advised to consult with independent sources for verification of information retrieved from the Site before taking a decision or acting. Your decisions and actions shall be your responsibility at all times.
Subject to the foregoing, Coinstockx’s aggregate liability for claims due to events related to or as a result of the use of the Site and/or Service by a single Member, either in tort (including negligence) or contract or otherwise, shall under no circumstances whatsoever be more than the greater of either (a) 125% of the total amount of the Transaction(s) that are the subject of the claim without any amount of Commission that may be due and payable in relation to such Transaction(s), and (2) the total amount held on the Account for the Member making the claim minus any amount of Commission due and payable in relation to such Transaction(s).
CHANGES IN TERMS
This is the peer-to-peer internet currency. More information about Bitcoins can be found at http://bitcoin.org
A peer-to-peer internet currency. More information about Ethereum can be found at https://ripple.com.
A peer-to-peer internet currency. More information about Litecoin is available at https//litecoin.org.
A peer-to-peer internet currency. More information about BitcoinCash is available at https://www.bitcoincash.org.
Member(s) that are submitting an offer to have them sold cryptocurrencies including Bitcoin, XRP, Ethereum, Litecoin and BitcoinCash to, via the Services.
This is the fee payable to Coinstockx per each Transaction initiated, for instance, in a Purchase Transaction.
Sellers and Buyers, likewise any holder of an Account.
- Personal Data
All information that can aid the identification of an individual. Such include but not limited to name, address, and email address, trading information, and banking details. Kindly note that “Personal Data” is not inclusive of anonymised and/or aggregated data which does not identify a certain user.
The “price per coin” for which Members are willing and ready to buy or sell Bitcoins, XRP, Ethereum, Litecoin, BitcoinCash, via the Service in a Bitcoin Purchase Transaction. The medium of expression of the price may be any of the currencies Members deposited in their Account and supported by the Service.
Kindly check our Site for a comprehensive list of currencies.
Coinstockx Member(s) that are submitting an offer to sell Bitcoins, XRP, Ethereum, Litecoin, BitcoinCash via the Service.
The platform powered by technology, functional rules and market under the management of Coinstockx Ltd which allows Buyers and Sellers to sell, purchase and trade Bitcoins.
Transactions include any or all of:
- The agreement between the Seller and the Buyer to trade Cryptocurrencies via Coinstockx Service for currencies. Such trading or exchange is usually at a commonly agreed price (“Purchase Transaction”);
- The conversion of currencies into Cryptocurrencies deposited by Members on their Account (“Conversion Transaction”);
- The transfer of Cryptocurrencies among Members (“Transfer Transaction”);
- The transfer of currencies among Members (“Currency Transfer Transaction”); and
- The buying of ancillary products (“Purchase Transactions”).
Note that Coinstockx may not offer all of the transactions included on the list above currently or across all locations.
- Transaction Price
This is the total price paid by a Buyer for each Transaction completed via the Service.