TERMS OF SERVICE



By using this website (“www.bitexuae.com”), registering for a Bitex UAE Account or using any other Bitex UAE 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 Bitex UAE Services.

As used in this Terms of Use, “Bitex UAE" refers to the company "Trade Bit Commercial Brokers LLC.", with its registered address in Dubai, UAE, including, without limitation, its owners, directors, investors, employees or other related parties. The service operated by Bitex UAE allows buyers ("Buyers") and sellers ("Sellers") to buy and sell Cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple.

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, Bitex UAE grants you the personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Site and the Service.

DO NOT ACCESS THIS WEBSITE OR ITS SERVICES IF YOU DO NOT ACCEPT THE TERMS OF USE MENTIONED HERE.

By opening an Account, you expressly represent and warrant:
•  That you have accepted these Terms
•  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, Ethereum, Litecoin and Ripple.


RISKS INVOLVED



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.

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, Ethereum, Litecoin and Ripple. 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 RIGHT OF USE



Unless otherwise specified, all Materials on this Site are the property of Bitex UAE 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 Bitex UAE and others used in this Site ("Trademarks") are the property of Bitex UAE and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Bitex UAE. 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



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 Bitex UAE 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 Bitex UAE 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 Bitex UAE 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. 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 Bitex UAE 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 Bitex UAE or any user of the Site.

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


TERMINATION AND ESCROW OF UNVERIFIED ACCOUNTS



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

You also agree that Bitex UAE 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, if deemed legitimate and compelling to do so by Bitex UAE, acting in its sole discretion.

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 Bitex UAE 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 Bitex UAE. 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 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. Bitex UAE shall transfer the currencies as soon as possible following the Member's request and within the time frames specified by Bitex UAE.

Bitex UAE 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.

Bitex UAE 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. 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.


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 UAE.


EMAIL



Unencrypted email messages sent over the Internet are not secure and Bitex UAE is not responsible for any damages incurred by the result of sending email messages in this way.


DISCLOSURES TO LEGAL AUTHORITIES AND AUTHORIZED FINANCIAL INSTITUTIONS



We may share your Personal Information with law enforcement, data protection authorities, government officials, and other authorities when:
•  Required by law;
•  Compelled by subpoena, court order, or other legal procedure;
•  We believe that disclosure is necessary to prevent physical harm or financial loss;
•  Disclosure is necessary to report suspected illegal activity; or
•  Disclosure is necessary to investigate violations of our Terms of Use or Privacy Policy.


LIMITATION OF LIABILITY



To the extent permitted by law, Bitex UAE will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arose from negligence or wilful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law or any other liability which may not be limited or excluded by law.


INDEMNITY



To the full extent permitted by applicable law, you hereby agree to indemnify Bitex UAE and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of Bitex UAE Sites, your use of the Service or from your violation of these Terms of Use.


MISCELLANEOUS



If we are unable to perform the Services outlined in the Terms of Use due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy, we shall not be liable for the Services provided under this agreement during the time period coincident with the event.


MODIFICATION OF TERMS



Bitex UAE reserves the right to change, add or remove parts of these Terms at any time and at its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.


CONTACT US



If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms and/or your use of the Site and the Service, your Account or any other matter, please contact [email protected]