Last Revision Date: September 22nd, 2020
1. Agreement Conditions
BitKings Exchange may not have its Services available in all jurisdictions and markets. Also, we may restrict or forbid the use of the Services from certain foreign jurisdictions (“Restricted Locations”) at its discretion.
By registering, you represent and warrant that you:
- are of legal age to form a binding contract (at least 18 years old);
- are an individual with full legal capacity authority and power to enter into this agreement;
- have not previously been suspended or removed from using BitKings Exchange Services;
- have not currently got a BitKings Exchange account;
- will not violate any other agreements to which you are a party by entering into this agreement;
- are not located in, under the control of, or a national or resident of any Restricted Locations nor are identified as a “Specially Designated National”;
- will not use our BitKings Exchange Services if any applicable laws in your country prohibit you from doing so.
3. Description of Services
BitKings Exchange provides a digital asset trading platform (crypto to crypto) for products commonly known as Digital Currency, including digital tokens, cryptographic tokens or cryptographic currencies.
BitKings Exchange does not participate in trades made between users as it is not a buyer or a seller or a market maker in any trades, BitKings Exchange functions as a trading platform only. Users must register on BitKings Exchange and deposit Digital Currency funds before start trading.
Information on BitKings Exchange is provided for users to be able to take independent decisions and is subject to modifications without prior notice. There are risks involved in trading Digital Currencies and we encourage users to trade responsibly, exercise prudence and understand the risk involved when trading Digital Currencies.
BitKings Exchange does not provide advisory nor investment advice and will have no liability for the interpretation or the use of information as stated on the Services or other communication channels.
4. BitKings Exchange Account
In order to engage in any trades, you must create a BitKings Exchange Account and provide any requested information. By creating an account, you agree to provide accurate and truthful information and to create a strong password that has not been used in any other online accounts owned by you. You also agree that you will promptly update and maintain your BitKings Exchange account information and notify us if you suspect or come across any security breaches related to your account. Also, by creating an account, you agree on taking responsibility for all activities occurring under your BitKings Exchange account including to properly log out at the end of every visit and accept all the risks of any unauthorised or authorised access to your BitKings Exchange account to the maximum extent permitted by law.
Please note that we may, in sole discretion, refuse to open an account for you or limit the number of BitKings Exchange accounts that you may hold, maintain or acquire.
6. Guidelines for Usage of BitKings Exchange Services
When you use the BitKings Exchange Services, you agree that all the activities that you carry out during the use of the Services will comply with the requirements of applicable regulations and laws. Moreover, none of the activities that you carry have to violate public interests nor have to engage in market manipulation activities.
We will own any ideas, feedback, suggestions, or other information or materials regarding BitKings Exchange that you provide via feedback, social media channels or by email.
7. General Obligations
This section covers all the trades conducted by you through BitKings Exchange and its Services, including purchases and sales of digital assets and any transaction you use to fill funds into your BitKings Exchange Account from and External Account or to unload funds from your BitKings Exchange account to an External Account.
If you do not have a sufficient amount of funds in your account to complete an order via BitKings Exchange, we may cancel the entire order. Also, you have the right to cancel an order that has been initiated if such order occurs before BitKings Exchange executes the transaction. Once the order has been executed, you may not change, withdraw or cancel your authorization for BitKings Exchange to complete such transaction. We reserve the right to refuse any cancellation request when an order has been submitted. A customer does not have a right to a reversal of a trade but we may, at our own discretion, reverse a trade under certain extraordinary conditions.
It is your responsibility to determine if any and what taxes are applicable to the trades you complete via BitKings Exchange as it is also your responsibility to report the correct amount of tax to the tax authorities. By creating an account on BitKings Exchange, you agree that we are not responsible for determining whether taxes apply to your trades or for collecting, remitting, or reposting any taxes arising from any table records.
You must provide any information required when creating a BitKings Exchange account or when required via email etc. Therefore, you are warrant the accuracy and completeness of any information provided to us.
Also, we may, in our sole discretion and, at any time and without prior notice, refuse any trade submitted via BitKings Exchange or impose limits on the permitted trading amounts as well as deposits and withdrawals.
8. BitKings Exchange Funds
In order to execute an order or trade via BitKings Exchange, you first need to load funds into your account using and external account. We are not responsible for any fees charged by the external account you use to fund your BitKings Exchange account. You are solely responsible for you use of any external accounts and your compliance with them. Please note that the timing associated with a load transaction will partly depend upon the performance of third parties related to external accounts.
You will be able to withdraw any funds from your BitKings Exchange account if they are greater than any minimum balance required to perform such withdrawal less any fees charged by BitKings Exchange at the time of your request.
You agree you will not hold BitKings Exchange liable for any damages resulting from your funds being unavailable in the external account or your funds being rejected by the external account.
9. BitKings Exchange Trades and Orders
Note that BitKings Exchange does not purchase or sell any digital assets on its own behalf. Therefore, when you submit a new order via our Services, you authorise BitKings Exchange to execute a transaction in accordance with such order on a spot basis and charge you for any applicable fees.
If you select a market trade, we will attempt, on a commercially reasonable basis, to execute such trade on or close to the prevailing market exchange rate. You acknowledge and agree that the exchange rate information made available via BitKings Exchange Services may differ from prevailing exchange rates made available via other sources outside of BitKings Exchange.
Also, particularly during periods of high volume, fast movement, illiquidity, or volatility in the marketplace for any Digital Assets, the actual market rate at which a market order or trade is executed may be different from the prevailing rate indicated via the BitKings Exchange at the time of your order or trade. You understand that we are not liable for any the possible price fluctuations. In the event of a market disruption or Force Majeure event, BitKings Exchange may suspend access to the Services or prevent you from completing any actions via the Services, including closing open positions. Following any such event, when trading resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
10. Acceptable usage of Services
When accessing or using our Services, you are solely responsible and agree to not violate any contract, law, intellectual property, right and you will not make use of the Services in any way that it could damage, disable, impair the functioning of BitKings Exchange Services or affect the activity of other users. This includes the usage of robots or other automated means not provided by us to access BitKings Exchange Services or to extract data.
Moreover, you will not make use of BitKings Exchange Services to engage with illegal gambling activities, fraud, money-laundering, terrorist activities or any other illegal activities.
11. Risk Disclosure
You agree and acknowledge that you shall access and use BitKings Exchange Services at your own risk and that the risk of loss in trading Digital Assets pairs can be substantial. Therefore, you should carefully consider whether such trading is suitable for you in consideration of your financial resources and circumstances.
12. Disclaimer of Warranties
Any product, service or other item provided on behalf of BitKings Exchange is provided under and “as is” and “as available” basis to the maximum extent permitted under the applicable law. BitKings Exchange expressly disclaims any and all warranties of any kind, whether express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade.
Moreover, BitKings Exchange does not warrant that the site and its Services are accurate, complete, current, error-free, reliable or free of viruses or other harmful components at any time. BitKings Exchange does not guarantee that any order will be accepted, executed, recorded or remain open. You hereby agree and acknowledge that BitKings Exchange will not be liable for any losses or damages arising out of any inaccuracy, error, defect or omission of digital currency price data nor any damage related to any error or delay in the transmission of such data, interruption in any such data. Also, you acknowledge and agree that we will not be liable for any losses or damages incurred by another user’s actions, omissions or violations of this agreement.
Please note that the above disclaimer of warranties may not apply if and to the extent it is prohibited by applicable law of the jurisdiction in which you reside.
13. Limitation of Liability
BitKings Exchange nor any of its affiliates, partners, shareholders, members, officers, employees, attorneys, representatives, agents, suppliers or contractors will, in no event, and to the maximum extent permitted by applicable law, be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever arising out of or connection with the Services, performance or non-performance of the Services or any other product provided by or on behalf of BitKings Exchange and its affiliates, whether under statute, contract, strict liability or other theory even if we have been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of BitKings Exchange’s gross negligence, fraud, wilful misconduct or intentional violation of law. This disclaimer includes, without limitation, damages related to the loss of data, information, revenue, profits or other business or financial benefit. Please note some jurisdictions do not allow the exclusion of limitation of incidental or consequential damages.
In spite of the foregoing, in no event will the liability of BitKings Exchange, its affiliates and their respective shareholders, directors, officers, member, employees, agents, attorneys, representatives, suppliers or contractors in connection with the Services, any performance or non-performance of the Services, or any other product, service or other item provided by or on behalf of BitKings Exchange or its affiliates whether under statute, contract, strict liability or other theory, exceed the amount of the fees paid by you to BitKings Exchange under this agreement in the twelve-month period immediately preceding the event giving rise to the claim for liability.
You agree to pay the fees for trades completed via BitKings Exchange (Fees) made available in our Fees section which may change from time to time. Changes related to Fees are effective as of the effective date indicated in the posting of revised Fees to BitKings Exchange, and will apply to any trades that will take place following such effective date of revision.
In addition to BitKings Exchange Fees, your external accounts may also impose fees in connection with your use of such designated external account via BitKings Exchange. Any fees imposed by such third parties will not be reflected on the transaction screens containing information regarding applicable fees. You are responsible for paying any fees derived from external accounts providers.
16. Termination of Agreement
In the event of any breach of this agreement or any Force Majeure, or any other event that would make provision of the Services commercially unreasonable for BitKings Exchange, we may, in our discretion and without liability to you, with or without prior notice, suspend your access to all or a portion of BitKings Exchange Services or freeze or lock the funds in your account.
You agree that BitKings Exchange will not be liable to you for any permanent or temporary modifications, suspension or termination of your account or access to all or any portion of BitKings Exchange Services. The above may apply in the following cases: (i) the account is subject to a governmental proceeding or criminal investigation, (ii) we detect unauthorised access to the account, (iii) we detect unauthorized access to the account, (iv) we are required to do so by a court order).
17. Intellectual Property Rights, Copyrights and Third-Party Content
Unless indicated by us, all materials contained on our website or provided in connection to BitKings Exchange Services such as logo, designs, texts, graphics, pictures, data, information, software and other files, without limitation, are the proprietary property of BitKings Exchange and are protected by intellectual property rights laws.
When accessing and using BitKings Exchange Services, you may view content provided by third parties. We do not control nor are responsible for any Third-Party Content, which may be incomplete, misleading, offensive, misleading or objectionable. Therefore, your correspondence with such third parties are solely between you and the third parties and at your own risk.
Such access to BitKings Exchange materials will be automatically terminated if we suspend your access to our Services.
18. No Financial Advice
You acknowledge and agree that BitKings Exchange is not your broker, advisor, agent or intermediary and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using BitKings Exchange Services.
Therefore, no information nor communication provided to you by BitKings Exchange is considered, intended or construed as, investment advice, financial advice, trading advice or any other sort of advice. All trades are automatically executed based on the parameters and variables in your order instructions and in accordance with posted trade execution procedures, thus you are solely responsible for determining whether any transaction, investment or strategy is appropriate for you considering your personal circumstances and risk tolerance. BitKings Exchange does not recommend that any digital asset should be bought, sold, earned or held by you and therefore we will not be held responsible for any decisions you make to buy, sell or hold any digital asset within BitKings Exchange Services.
You should consult your legal or tax professional advisor regarding your personal specific situation.
19. Dispute solving
BitKings Exchange wants to address any concerns users may have without resorting to formal legal proceedings. Therefore, before filling a claim, you agree that you will try to resolve this dispute informally and amicably by contacting us first through [email protected]
You and BitKings Exchange agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to BitKings Exchange shall be sent through [email protected]
20. Know-Your-Customer (“KYC”), Anti-money laundering (“AML”) and Counter Terrorist Financing (“CFT”) Procedures
As part of our commitment to combat financial crimes, BitKings Exchange has implemented a series of procedures and systems aimed to allow us to identify and mitigate the risks BitKings Exchange Services may face if used for illegal purposes. These include KYC, AML and CFT procedures, which are based on our collection of information about our users and their activities within BitKings Exchange.
21. Customer Service and notices
You hereby consent BitKings Exchange to use the contact details provided by you on registration to occasionally contact you directly in relation to your usage of our Services.
You agree and consent to also receive electronically all communications, documents, agreements, receipts etc. BitKings Exchange provides in connection to your account. If you decline to consent to receive electronic communications, we may suspend your use of BitKings Exchange Services.
For more information about BitKings Exchange, its community, project and latest news, you can visit our Blog and social media channels. If you have any questions regarding this agreement, please feel free to contact us via [email protected]
- Waiver. Our delay or failure to exercise any right, power or privilege under these Terms shall not operate as a waiver thereof.