Terms and definitions used in the present agreement
BITEX.ONE platform is a digital resource for concluding transactions.
User - a person over the age of 18 who has provided valid data for registration in the system
Limited buy order – User's consent to purchase the specified volume of instruments within the Platform at the rate which is not higher than the rate specified in the order. Thus, order execution occurs only if there are opposite orders with the price which is not less than or equal to the price specified in the order.
Limited sell order – User's consent to sell the specified volume of instruments within the Platform at the rate which is not lower than the rate specified in the order. Thus, order execution occurs only if there are opposite orders with the price which is not higher than or equal to the price specified in the order.
Market buy order – User's consent to purchase the specified volume of the instrument within the Platform at the best prices from the sell order book. If there is no required volume in the sell order book the Platform will reject the order.
Market sell order – User's consent to sell the specified volume of the instrument within the Platform at the best prices from the purchase order book. If there is no required volume in the purchase order book the Platform will reject the order.
Personal data - any information relating to identified or identifiable natural person (data subject) helping to identify the person directly or indirectly.
BITEX.ONE innovative trading Platform (hereinafter - the Platform) on the one part and the User on the other part conclude the User agreement that contains rights and obligations of the parties and also personal data processing procedures.
The Platform is fully owned by Bitex1 Ltd., registered in the UK at: Suite 10340, 45 Salisbury Rd, Cardiff CF24 4AB, Wales, (hereinafter - Bitex1 Ltd.). Accordingly, the activities of BITEX.ONE Platform are regulated by the legislation of the UK on the basis of the English law.
Text part of this document is a public offer which should be accepted by the User if they plan to use the Platform.
The User acquires the User's status with observance of several conditions:
The User should accept the user agreement and the related documents.
By explicit actions committed either through the Platform or by actual signing of the agreement, the User gives consents to personal data processing to continue cooperation.
The User undertakes to provide authentic data for identification, i.e. distinguishing a particular User from the other users.
Should a person who has submitted personal data to the system fail to comply with the clause
Such person shall not be considered as a User and any intermediate data that could have been entered into the system shall be deleted.
Obligations of the User
The User shall study this document and all the relevant information.
The User shall sign up on the Platform by specifying their email and password for future account on BITEX.ONE Platform.
The User shall accept the terms of this Agreement by ticking the checkbox “With registration on BITEX.ONE you accept the terms of the User agreement published in Information section.
If User does not agree with the provisions hereunder the User shall refrain from registration on the Platform.
Receiving the email notification on User registration on the Platform means that the User has agreed with all provisions of the User Agreement.
If after registering on the Platform, the User understands they do not agree with the terms hereunder, the User shall not log in to the Platform and, in the case of authorization, stop using the Platform in authorized mode immediately.
If the User does not agree with the terms of the User agreement he or she shall notify the technical support immediately.
Upon notification receipt, the User's personal data will be deleted from the system.
The User agrees to comply with the rules specified in the Agreement and other documents arising out of this Agreement.
By signing the agreement the User confirms the age of majority (18 years).
The User agrees that the means used to work on the Platform have not been obtained as a result of criminal or any other illegal activities.
The User confirms they do not violate the law of the jurisdiction of Great Britain and other countries, including their residence jurisdiction.
The Platform provides the possibility of the User registration by the User's email; however, the User understands that the Platform has the right to verify the User's identity due to legislation of the UK relating to anti-money laundering and terrorism financing legislature.
The Platform administration has the right to freeze the User's account if there are grounds to suspect the User of violation of the UK legislation provisions by closing the User's positions at the price acting in the market at the time when a decision to freeze the User's account is made.
The Platform administration has the right to close the User's account due to other grounds besides those mentioned in clause 3.12 by notifying the User 5 days before closing the account. In this case, the User shall close all open positions independently and if they fail to do it within the specified period, the Platform will close the position and transfer Bitcoins to the User's wallet outside of the exchange.
The Platform has the right to suspend trading due to market failures or other extraordinary events.
The Platform does not provide a refund in case of any failures.
In case of any failures the Platform undertakes to exercise the all possible actions to eliminate the problems.
The User understands and agrees that all trades are final and that the Platform has the right to cancel any transaction at any time.
The Platform notifies the User about all changes which may affect the work with their personal data by sending personal messages to User's e-mail.
The Platform reserves the right to notify the User by posting the relevant news on the company's website.
The User's responsibility for quality of the information provided
During the registration process the User shall choose a password for their account. Thus, the User shall be solely responsible for keeping their password and not disclosing it to the third parties.
The Platform administration does not bear responsibility for possible hack of the User's account due to negligent use of login/password for access to the profile. The User shall take care and exert all efforts to prevent the hackers or the third parties from obtaining the User's login or password.
In order to increase the account security level it is recommended to enable two-factor authentication (2FA) after the registration.
If the User's login and password have been compromised and the User has lost access to their profile, the User should contact the Platform's technical support immediately. The User bears responsibility for all actions performed with their account before the technical support administrators receive the User's message.
It is forbidden to have two or more accounts in the system. This is a direct violation of the Agreement and results to life-long blocking of all identified accounts of the User without recovery option.
User's interaction and responsibility when working with the personal account
At registration the Platform automatically generates a wallet for the User with a unique wallet number which can be deposited with Bitcoins and used for withdrawal of Bitcoins.
To replenish the account the User should transfer the funds in Bitcoins to the wallet number that has been generated by the Platform automatically.
The User's responsibilities include payment of the fees which may be charged by the payment systems, as well as Bitcoin network fee.
If the User enters a wrong number for the transfer, the administration does not bear responsibility for any funds lost as a result of this mistake.
The account is considered as deposited when the amount sent will have more than 2 confirmations of Bitcoin network and the transferred funds will appear in the User's wallet.
The Platform is responsible for safety of the received funds; their recalculation based on the trade results; transaction history, and undertakes to withdraw the funds on the same day when the User requests to, according to the current limits.
The service monitors the status of funds in the personal account of the User, but the User's funds are kept in the Platform's cold-wallet, which ensures safety of the Users' funds.
All transactions within the account shall be governed by the User personally. The Platform does not manage the User's funds.
The User's account is not of a deposit type and the Platform is not a bank and does not pay any interests for the funds kept in the User's account.
The funds belong solely to the User, who has transferred them to the personal account.
For additional safety of the User's funds there is a rule on the Platform which limits withdrawals in the case when the User changes their password or restores it within the last three days. In this case, the funds can be withdrawn only three days after such action.
Transactions on the Platform are performed with setting the order by the User and execution of orders by the opposite party (other User). The Platform does not participate in transactions and only provides the Users with the ability to execute transactions between each other.
For executing the transactions, the Platform charges a fee regulated by the rates specified on the Platform's website.
To place an order the User has to replenish the account with the amount required for the transaction. The order is considered as placed after pressing "Buy” or “Sell” buttons.
The User can place up to 100 pending orders.
The User can delete the order before executing the transaction.
If the order is published, it is visible to all Users in the Order book until it is deleted by the User or executed by the other Users.
By accepting this document, the User confirms they are aware of cryptocurrency properties, its derivatives and factors affecting the price of a certain instrument.
The User understands that the cryptocurrency instrument price can vary under the influence of the other players on the Platform. The administration does not interfere in the Platform's work and does not impose any prices to its participants. The participant bears sole responsibility for the financial consequences arising from purchase/sale of a certain instrument.
The User acknowledges that the order cannot be cancelled once it's executed.
After transaction execution, the User has the right to close it under the market conditions.
Restrictions and copyright
Platform and system operating in it is a product the right to which belongs solely to Bitex1 Ltd.
While using the Platform, the User acknowledges that all design elements and functions of the Platform are protected by copyright. Actions prohibited for the User:
The User has no right to copy and mail the data posted on the Platform pages. It is admissible only for sending the information within the Platform.
The User has no right to copy elements of web pages.
The User has no right to post personal information of the other Users on the Platform without their official permission.
The User has no right to commit hacker attacks on the Platform and search for vulnerabilities in the algorithm except for the cases authorized by the administration.
The User has no right to try spoiling the system operation.
The User has no right to choose a username consisting of substandard words and expressions which hurt the honor and dignity of the other Users of the Platform.
The User are allowed to post only those links on the Platform that are coordinated with the Platform administration. The Platform does not bear responsibility for the resources outside of BITEX.ONE company website. The User bears responsibility for the consequences of using such sources.
The Users cannot submit claims to the administration to cancel the trade transcations. The administration does not undertake the measures for refunding or restoring the User funds which may have reduced due to unstable situation in the market and User’s trade transactions.
The User who does not agree with the administration's actions shall present their claims in writing and send them to the official email of the Platform: email@example.com.
Administrators will process the claim and offer the User solutions for solving the problem.
After registering on the Platform, the User gets access to the chat. The following actions are forbidden in the chat:
The User shall not humiliate the other chat participants and threaten them and the Platform's administration. For violation of these rules, the account may be blocked forever.
The User shall not use obscenities and other curses in any languages.
The User shall not stir up ethnic hatred, advocate extremism and violence.
The User shall not insult religious feelings of the participants.
The User shall not post any advertising links to other sources.
The User shall not duplicate the messages with similar content several times and publish the same information.
The User shall not offer the other Users assistance in buying or selling the financial instruments.
The User shall not spread fraudulent and false information about the Platform.
None of the Parties shall be liable to the other party for failure to fulfill its obligations if such non-fulfillment was caused by force majeure circumstances, such as natural disasters, riots, fires, Internet and electricity failures, legislative and regulating deeds of the authorities.
The Platform shall notify the regulators about any breaches related to personal data within 72 hours after discovering such a breach.
The Platform shall provide the User with the full access to registration data relating to the User.
The Platform shall provide a free e-copy of the personal data to another company upon the request of the personal data User.
The User has the right to delete their personal data, upon request, to prevent their disclosing or transfer to the third parties.
The user agreement is in line with international standards and the EU's GDPR rules.
Accepting the User Agreement The User also accepts the terms of the Partner Agreement, which is an integral part of this document.
If a separate document is used, the present rules shall be applied only to the extent which does not contradict the above-mentioned conditions.
The Platform is not obliged to officially specify the countries and regions for which the agreement on the basis of local legislation will be applied.
However, the Platform undertakes to protect the information received on the basis of the regionally applicable legislation and not to infringe upon users living in the other legal framework.
The Platform undertakes not to make significant changes, not to impose additional burdens or restrictions to the User's rights stipulated by this agreement without prior notice of the Users.
The services offered by BITEX1 Ltd. are not being offered on the territory of the United States (US) and not being offered to US Persons, as defined under US law. The information on this website is not directed to residents of any country where cryptocurrency/derivatives of any kind or high marginal trading instruments are restricted or prohibited by local laws or regulations.
The Platform undertakes to keep the User's data as long as it is required for implementation of activities of the Platform and the User.
After the end of using the User's personal data, it will be deleted.