Terms for Cryptocurrency Services
Before Users use the Cryptocurrency Services offered by the Company, they should read this Addendum carefully, the Agreement, the Risk Disclosure and any other documents and information posted on the Company's Website. Users acknowledge and agree by using, and/or by continuing to use the Services, that they are entering into a legally binding contract and have read, understood and accepted this Addendum. A copy of this Addendum should be printed and retained in the Users' records.
1. Interpretation of Terms
In this Addendum, except where the context otherwise requires, the following terms shall have the following meaning:
"Cryptocurrency" means a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets, such as Bitcoin and Ethereum.
"Cryptocurrency Network" means a decentralized, independent, public peer-to-peer network that functions as a digital ledger of transactions in Cryptocurrencies.
"Market" means an exchange
To access the Site, Web Services, Data, and Third-Party Data, User must register to create an account (“Account”). During the registration process, User will be required to provide certain information and User will establish a password. User agrees to provide accurate, current and complete information during the registration process and to update such information to keep it accurate, current and complete. Provider reserves the right to suspend or terminate Users Account if any information provided during the registration process or thereafter proves to be inaccurate, not current or incomplete. User is responsible for safeguarding password. User agree not to disclose password to any third party and to take sole responsibility for any activities or actions under User Account, whether or not User has authorized such activities or actions. User will immediately notify Provider of any unauthorized use of User Account.
User agrees to receive electronic correspondence from Smart Trade Coin, which may include commercial communications, and other information about the latest developments in Smart Trade Coin.
3. KYC and AML
In spite of providing a decentralized trading platform, Smart Trade Coin will exert strict control over the participants in the Smart Trade Coin Platform, especially to avoid Money Laundering. In association with the relevant authorities, strict KYC procedures will be established in a cost-efficient way, with the help of artificial intelligence. User will not be able to trade on the Smart Trade Coin Software unless User complied successfully with the KYC procedure.
Terms of KYC
4. Risk Disclosure
Smart Trade Coin is not to be considered financial advice! – use at your own risk.
Smart Trade Coin will not accept any liability for loss or damage as a result of reliance on the information contained within this website including software, data, articles, videos, buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the digital markets, it is one of the riskiest investment forms possible.
Cryptocurrency trading involves risk and is not suitable for all investors. Before deciding to trade cryptocurrency exchange or any other crypto trading instrument you should carefully consider your investment objectives, level of experience, and risk appetite.
Smart Trade Coin doesn’t bear any responsibility for any trading losses you might incur as a result of using this data or software or website.
Smart Trade Coin would like to remind you that the data contained in this website is not always necessarily real-time nor accurate. The prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Smart Trade Coin. doesn’t bear any responsibility for any trading losses you might incur as a result of using this data or software or website.
Trading Bot risk.
The User acknowledges and agrees to access and use the Services at his/her own risk. The risk of loss by trading bots in pairs of Digital Assets may be significant. Therefore, Users should carefully consider whether such trading by bots is appropriate for you in view of your situation and financial resources. User should be aware of the following points:
- Users may incur a total loss of Funds in Smart Trade Coin Account and in some cases, Users may incur losses in excess of these Funds. If the market changes relative to User position, we may call on User to provide a substantial amount of additional funds within a short period of time in order to maintain User position. If the User does not provide the required funds within the time frame required by us, the User position may be liquidated at a loss, and User will be liable for any resulting losses to his/her Smart Trade Coin account.
- Under certain market conditions, it may be difficult or impossible to liquidate a User position. This may happen, for example, when the market reaches its daily price fluctuation limit if there is insufficient liquidity in the market.
ALL THE ABOVE POINTS APPLY TO ALL TRANSACTIONS ON SMART TRADE COIN. THIS SHORT STATEMENT CANNOT DISCLOSE ALL RISKS AND OTHER ASPECTS RELATING TO THESE TRANSACTIONS
Users acknowledge that there are risks associated with the use of an online bot trading system, including but not limited to the failure of hardware, software, and internet connections. Users acknowledge that Smart Trade Coin is not responsible for any communication failures, disruptions, errors, or delays that may occur to Users when trading with Smart Trade Coin, regardless of the cause.
Virtual currencies are open peer-to-peer payment networks and they are able to send money to each other without any central server. The network is secured by cryptography, which allows only the money belonging to the client to be used and prevents money spent from being reused. Virtual currencies cannot be under any influence or be counterfeited, no one can manage the network. This system is anonymous, uncontrolled, and international.
Virtual currency is not an official currency protected by a national bank. The price of a virtual currency is influenced by the free global market, due to changes in supply and demand, the price can be very variable. The price can be affected by currency theft, hacker attacks, legislation in different countries, etc. There may also be other threats that are not listed in these Terms and Conditions.
Virtual currency is vulnerable to irrational movements and can lead to a loss of confidence, which can lead to its collapse. This means that the value of User investment can rise or fall significantly.
Virtual currencies are not controlled by any authority and it is not possible to cancel any payment made in this currency.
Due to the risks associated with trading by bot in virtual currencies, we recommend that you carefully consider your financial situation and your ability to resist the risks.
By using the Smart Trade Coin, you acknowledge all risks associated with virtual currency trading by bot.
The Smart Trade Coin is not responsible for the exchange of virtual currency. The risk is solely on the User's side.
If User creates or uses an Account and he/she does not comply with these Terms and Conditions or if User helps other people to violate these Terms and Conditions or the law, all User's accounts related to these intentional actions will be blocked.
If suspicious activity is related to the User's account, the Smart Trade Coin reserves the right to request additional information about the User, including the authentication of documents and the possibility of blocking any activity in the Smart Trade Coin.
Any user who fails to comply with these Regulations risks cancellation of the registration and may be held responsible for the loss of the Smart Trade Coin or another user.
5. Principal to the transaction
The User understands that the Smart Trade Coin by providing the User with Cryptocurrency services, the Smart Trade Coin acts as a principal and not as an agent on the User’s behalf and therefore Smart Trade Coin is always the counterparty of the transaction.
Smart Trade Coin will act as the sole custodian and hold Cryptocurrencies on behalf of its Users following the terms of this Addendum. Subsequently, any Cryptocurrencies purchased by the User will be held and administered by Smart Trade Coin in a dedicated wallet, in which all Users’ Cryptocurrencies shall be pooled together.
Nevertheless, Smart Trade Coin under this Addendum, may at its absolute discretion, delegate certain custody services to third-party service providers or any other person as a sub-custodian or otherwise to hold Cryptocurrencies, which may be unaffiliated and/or affiliate Company including unregulated Companies which may be located inside or outside.
Smart Trade Coin will exercise all reasonable skill and care in the selection, appointment and periodic review of these affiliates, agents and any service providers but the User agrees and understands that Smart Trade Coin will not be held liable for any acts or omissions of these third-party service providers, including cases of dissolution or insolvency.
The User will remain the beneficial owner of the Cryptocurrencies that Smart Trade Coin holds for the User's account. The User understands and agrees that in accordance with his/her beneficial ownership of the Cryptocurrencies held by Smart Trade Coin on his/her behalf, the User will not be able to sell it part or whole, loan it and/or use it in any other way except for the specified purposes and manner stated herein.
Further, the User agrees that he/she will not be entitled to any interest regarding his/her Cryptocurrencies held by Smart Trade Coin as the custodian for the User's account and any interest shall be retained by the Company.
Smart Trade Coin maintains records of all the Users Cryptocurrencies held by Smart Trade Coin for the User’s behalf.
7. Risks Associated with Trading in Cryptocurrencies
There is no specific Belize regulatory framework governing the trading in virtual currencies and trading in these products, therefore, falls outside the scope of our MiFID regulated activities.
Virtual currencies are complex and high-risk products and as such, you could lose your entire invested capital.
Virtual currencies can widely fluctuate and may result in significant loss over a short period. You should not trade in virtual currencies in case you do not have the necessary knowledge and expertise in these products.
When trading virtual currencies, you will have no right to report to the Belize Financial Ombudsman in case of a dispute with the Company.
Smart Trade Coin reserves the right to amend, revise, modify, and/or change this Addendum at any time without prior notice. All changes shall take effect immediately and such an updated version of the Addendum shall be published in the Company's Website.
Users who do not agree with any amendment, review and/or change of this Addendum may request to terminate their use of the Services and close their account. Smart Trade Coin shall not be liable for any modification or termination of the Cryptocurrency Services further to the amendment, review and/or change of this Addendum.
9. Applicable Law and Jurisdiction
This Addendum shall be governed by and construed in accordance with the laws of Belize
10. Contact Details
For any information not found in this Addendum or the Company's website at www.go.smarttradecoin.com