Terms Of Use

Last Revision Date: September 22nd, 2020

Please read BitKings Exchange Terms of Use carefully. This agreement is between you (referenced herein as (“you/”your”) and BitKings Exchange d.o.o, with headquarters in the Republic of Serbia, 3 Rige od Fere Str., Belgrade - Stari Grad, registration number: 21581917. Please note that by clicking the “Register” button, you agree that you have read, understood and accepted all of the Terms of Use and Privacy Policy and agree to be legally bound by these Terms of Use and all terms incorporated by reference. Additionally, when using certain services also provided by BitKings Exchange, you may be subject to additional Terms of Use applicable to such services (“Services”).

These Terms of Use (“Terms”) apply to your access and use of the website and mobile applications provided by BitKings Exchange (“us”/”we”) and supersede all prior understandings between the parties regarding the Services.

1. Agreement Conditions

BitKings Exchange reserves the right to change the Terms of Use at any time and at its sole discretion. We will notify changes by updating the Terms of Use link on the webpage and changing the “Last Revision Date” section and through its announcements section on blog.bitkings.com. If you do not agree at any point with any of the modified or current Terms of Use you must stop using our Services. This is the reason why we encourage you to ensure you understand the Terms of Use that apply to your access and us BitKings Exchange Services by frequently reviewing the Terms.

Our delay or failure in exercising any of the rights stated under these Terms of Use shall nor operate as a waiver thereof. Moreover, the invalidity of any of these Terms of Use shall not affect the validity or enforceability of any other of these Terms of Use.

2. Eligibility

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:

  1. are of legal age to form a binding contract (at least 18 years old);
  2. are an individual with full legal capacity authority and power to enter into this agreement;
  3. have not previously been suspended or removed from using BitKings Exchange Services;
  4. have not currently got a BitKings Exchange account;
  5. will not violate any other agreements to which you are a party by entering into this agreement;
  6. 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”;
  7. 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.

5. Privacy Policy

Please refer to our Privacy Policy link for information related to how we collect, use and share your information.

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.

By agreeing with these Terms of Use, BitKings Exchange is providing you with a license to access and use its Services on your computer or other internet compatible device for your personal and internal use only. Note that this access does not include any resale or commercial use including to place trades on behalf of another entity or party. All such use is expressly prohibited and shall constitute a material violation of these Terms of Use. You are hereby prohibited from using our Services in any manner that is not expressly authorized by these Terms of Use. Accordingly, you hereby agree that BitKings Exchange does not transfer any intellectual property no ownership interest to you or anyone else in connection to your use of BitKings Exchange Services. This includes all texts, graphics, visual interfaces, user interfaces, artwork, computer code, software, programs, products, documentation, information, design, structure, expression; also, any content available through BitKings Exchange are exclusively owned, controlled and/or licensed by us or our affiliates.

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.

Please note that BitKings Exchange not only reserves the right to investigate any violation of these Terms of Use and determine whether you have committed a violation or not. Thus, BitKings Exchange reserves the right to take actions such as blocking your trades or freezing your account and apply any relevant rules without receiving your approval nor giving notice to you.

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.

You agree to pay BitKings Exchange fees which may be updated from time to time in BitKings Exchange’s sole discretion. Any such updated fees will apply prospectively or any trades or other transactions that take place following the effective date of such updated fees. You authorise us to remove any amounts from your account for any applicable fees owed by you under these Terms of Use.

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.

14. Indemnity

You agree to defend, indemnify and hold harmless BitKings Exchange, its affiliates and their respective shareholders, directors, contractors, officers, employees and agents from and against any claims, loss, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including fines, penalties imposed by any regulatory authority and attorneys ‘fees) arising out of or related to: (i) your use of, or conduct in connection with BitKings Exchange Services, (ii) your breach or our enforcement of these Terms of Use, (iii) any feedback you provide, or (iv) your violation of any applicable law, regulation, or rights of any third party during your use of the Service of BitKings Exchange.

15. Fees

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.

You give us authorisation to charge or deduct fees from your account for any applicable fees owed in connection with the trades you have executed via BitKings Exchange Services. If you fail to pay any related fees owed to BitKings Exchange under these Terms of Use and we refer your account to a third party for collection, then BitKings Exchange will charge you the maximum percentage permitted by applicable law to cover collection-related costs.

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.

We may also, in our discretion and without prior notice, terminate your access to BitKings Exchange Services immediately and delete or deactivate your account and all related information and files in such account without liability to you, including, for example, in the event that you breach any term of these Terms of Use. In the event of termination, BitKings Exchange will attempt to return any funds stored in your account not otherwise owed to BitKings Exchange unless we believe you have committed fraud, negligence or other misconduct.

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.

Your access and usage of BitKings Exchange Services subject to these Terms of Use does not permit any resale, distribution or modification of the abovementioned materials.

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 arbitrate any dispute arising from these Terms of Use or your usage of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful user of copyrights, trademarks, trade names, logos, trade secrets or patents. Arbitration prevents you from suing in court of from having a jury trial.

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.

For the purpose of the above, we may collect certain personal information from you for which you are responsible for its accuracy and this will be utilised in accordance with our Privacy Policy.

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]

22. Miscellaneous

  1. Entire Agreement. These Terms of Use supersede all previous and contemporaneous understandings between the parties regarding BitKings Exchange Services. In the event of any conflict with these Terms of Use are specifically identified and declared to be overridden by such other agreement.
  2. Independent Parties. BitKings Exchange is an independent party and not an agent of you or any user in the performance of these Terms of Use. These Terms of Use cannot be interpreted as a form of association, partnership, joint venture or franchise between the parties.
  3. Force Majeure. BitKings Exchange will not be responsible nor liable for any failure or for any delay to perform as required by these Terms of Use because of any cause or condition beyond BitKings Exchange’s reasonable control. We will not be liable for any inaccuracy, error, or omission of any information, transmission or delivery of information or liable for any loss or damage arising from an event beyond BitKings Exchange’s reasonable control including but not limited to: weather conditions, flood, earthquake, fire, labor dispute, war, accident, action of Government, communications, power failure or equipment of software malfunction.
  4. Severability. If any portion of these Terms of Use are held invalid or unenforceable, this shall not affect the validity and enforceability of any other of these Terms of Use, all of which may remain in full force and effect.
  5. Waiver. Our delay or failure to exercise any right, power or privilege under these Terms shall not operate as a waiver thereof.
  6. Third-Party Website Disclaimer. BitKings Exchange does not guarantee the accuracy of the information contained in third-party websites. Also, any of the links to third-party websites from BitKings Exchange Services does not imply endorsement of any products, information or service provided in them. We have no control over third-parties Terms of Use and privacy policies.
  7. Amendment. We reserve the right to modify and change any of these Terms of Use from time to time, in our own discretion and without prior notice. We will be posting the amended Terms of Use with the latest updated or revision date at the top. The amended Terms of Use will apply and be effective as soon as they are posted on the website for both new users and existing users of BitKings Exchange Services.