Terms of Service

Server Time - 6.29 20 Feb

BTC Price - $1038.2

LTC Price - $2.93999

These terms of service apply to all use of the cryptonit website and all trading on the cryptonit website. By registering on the cryptonit website or by trading on the cryptonit website you are agreeing to enter a legally enforceable agreement with Cryptonit Solutions Ltd on the basis of these Terms. If you do not agree to these Terms you must not register on the cryptonit website or trade on the cryptonit website. Our privacy policy also forms a part of these Terms.

Introduction

The Cryptonit website is a tool owned, maintained and operated by Cryptonit Solutions Ltd (“cryptonit”, “we”, “us” or “our") that allows individuals registered on this website (“Users”) to trade cryptocurrencies (such as Bitcoin, Litecoin, PPCoin and others) for other currencies worldwide. These terms of service (“Terms”) form the agreement under which Users can receive the cryptonit services and access the cryptonit website (together referred to as the “Site”). cryptonit enables Users to exchange:

  • cryptocurrencies for traditional currencies;

  • traditional currencies for cryptocurrencies; and/ or

  • one cryptocurrency for another cryptocurrency.

All exchanges are made between the Users. Therefore the Site enables currency exchanging by enabling a User to buy cryptocurrency or traditional currency from another User. Users decide themselves at which price they buy or sell currency. cryptonit is not itself a party to any currency exchanges or trades.

Cryptocurrency

Cryptocurrency may not be appropriate for everyone. Before making use of cryptocurrency you should learn about it to ensure it is appropriate for you. As with all currencies, there are some risks associated with using cryptocurrency. Some of the risks particular to cryptocurrency include:

  • loss of cryptocurrency due to hardware malfunction or User error;

  • currency fluctuation - the price of cryptocurrency may fall sharply and may even fall to zero;

  • cryptocurrency transactions may be unconfirmed for a period of time. Although very unlikely, some cryptocurrency transactions may never be confirmed - cryptocurrency transactions which are unconfirmed may not be completed;

  • cryptocurrency transactions are irreversible - if you send cryptocurrency to the wrong person, you may be unable to recover that cryptocurrency;

  • cryptocurrency may be lost if you lose or forget any PINs or passwords necessary to access and spend those cryptocurrency;

  • unknown technical defects inherent in cryptocurrency protocols; and

  • new regulation which impacts on cryptocurrency use.

Changes to the website and these Terms of Service

cryptonit reserves the right, at its sole discretion, to change these Terms at any time. In such cases notifications of the change will be published on the Site. By continuing to use cryptonit after notification of the changes are posted on the Site, you are indicating your acceptance of the changes and you are agreeing to act in accordance with these Terms as changed. If you do not agree to any changes to these Terms, you should immediately withdraw any funds held to your account and stop using the Site.

cryptonit may suspend, modify or terminate completely any feature or any part of the Site. cryptonit may also restrict access to a set of features of the Site at any time without prior notice or liability.

Registration, Account and Password

You may only apply to register as a User if:

  • you are aged 18 or over; and

  • if it is lawful for you to do so.

To register as a User, we may require you to provide us with identification or other documentation in order to help us prevent fraud or money laundering taking place on the Site.

You may only buy and sell cryptocurrencies for your own benefit. By using the Site you confirm that you are not acting for the benefit of any other person.

To register as a User, you will need to submit personal information and choose an account name (“Username”), a password (“Password”) and a valid email address for your Site account ("Account").

The Username and Password will be allocated to you if you successfully apply for registration as a User. Only we can decide whether applications will be successful. You will need your Username and Password to access some parts of the Site. Your Username and Password are personal to you and must not be disclosed to any other person. You may only hold one Account.

You must ensure that all information about you that is held by us is true, complete, not misleading and up to date. You can amend your registration details at any time through the Site.

We are entitled to assume that any use of your Account is made by you. You are solely responsible and liable for any use of the Site under your Account or any other use of your Username and Password.

DO NOT SHARE YOUR PASSWORD WITH ANY OTHER PERSON OR ALLOW ANY OTHER PERSON TO USE YOUR ACCOUNT. WE ARE NOT LIABLE FOR ANY IMPROPER USE OF YOUR PASSWORD OR ACCOUNT OR ANY USE OF YOUR PASSWORD OR ACCOUNT BY ANY OTHER PERSON. IF YOU THINK ANY OTHER PERSON KNOWS YOUR PASSWORD, OR THAT YOUR ACCOUNT HAS BEEN USED BY ANY OTHER PERSON, YOU MUST INFORM US IMMEDIATELY.

If you do not log into your Account for 12 months, we may terminate the Account.

Breach, Suspension and Termination

Without limiting any other rights we have, we may suspend or terminate access to your Account or the Site if you breach any of these Terms.

If we have grounds to suspect that you are using the Site fraudulently or improperly, we will suspend your Account until you are able to demonstrate to our satisfaction:

  • your identity; and

  • that no fraud or impropriety has occurred or been attempted.

We will try to give you reasonable notice of any anticipated termination of the Site.

If you become aware of or suspect another User or User's breach of these Terms, or any fraud or impropriety by another User, you must contact us immediately.

Location and Jurisdiction

In some countries, Users may not be allowed to use cryptonit or cryptocurrencies. cryptonit does not encourage the violation of any applicable law or regulation. If you are not sure that you are permitted to use cryptocurrency or the Site in your jurisdiction, you must not use the Site. You agree to comply with all applicable laws and regulations.

We do not allow Users to visit the Site through anonymous proxies (such as TOR) and other services or technologies that hide the real internet connection of the User.

Fees and Commissions

cryptonit charges small fees for deposits, withdrawals and trading operations. Fees for deposits and withdrawals may be found on the deposit and withdrawal pages from time to time.

On every trade operation cryptonit charges a fixed 0.15% fee. All of the cryptonit fees are subject to change.

It is the Users' responsibility to make themselves aware of changes to the fees, which will be published on the Site.

Withdrawals

Fulfilling requests for deposits and withdrawal may take some time, but we will always try to ensure that to deposits and withdrawals are made promptly. If cryptonit is not able to fulfil withdrawal requests within an agreed timeframe, the User may request to cancel the withdrawal. Any funds subject of a cancelled withdrawal funds are credited back to the User’s account. On the deposit or withdrawal page of the Site you can find information about specific conditions regarding selected payment systems and selected currencies.

It is your responsibility to check and verify all information before depositing, withdrawing or trading currencies on cryptonit.

For problems related to withdrawals and deposits please contact our accounting department at accounting@cryptonit.net

Redeemable Vouchers

You may create a voucher that can be redeemed by a cryptonit user. Right after creation voucher becomes your digital property and you are responsible for it’s safety. Cryptonit will be not liable for any loss caused by voucher leak, theft or any other fraud with a cryptonit voucher involved.

Verification

Users may use cryptonit with or without having completed our verification process. Our verification process is subject to change. Users who have not completed our verification process are referred to as "unverified".

Users can become verified by completing either of the following verification processes. If you unsuccessfully attempt to complete either the first or second verification process, you may make another attempt or attempt to become verified by the other process:

First Verification Process

Submit a photo of you holding your photographic identification document and a document confirming your address which is less than 3 months old. The photo submitted must be of a quality and resolution sufficient to enable us to read the documents held and see your face. Additional photos may be requested if we consider it necessary. If we are satisfied that you are properly identified, we will provide you with confirmation, at which point this verification process will be completed.

Second Verification Process

Attend a short video conference with a member of our team, showing you, your photographic identification document and a document confirming your address which is less than 3 months old. The video resolution must be of a quality and resolution sufficient to enable us to read the documents held and see your face. If we are satisfied that you are properly identified, we will provide you with confirmation, at which point this verification process will be completed

Unverified Users have a 10.000 USD limit on FIAT currency turnover. Turnover in this case is calculated as a sum of all FIAT withdrawals and deposits made on an Account. Unverified Users may also be prevented from using some payment systems for deposits and withdrawals which are otherwise available.

We may require unverified users to become verified at our sole discretion.

Liability

We provide and maintain the Site on an “as is” and “as available” basis and we are liable only to provide our services with reasonable skill and care.

We give no other warranty in connection with the Site and we disclaim all liability for:

  • the accuracy, currency or validity of information and material contained within the Site;

  • the acts, omissions or content of any User or third party;

  • any hacks or attacks, including attacks comprised of block chain forks, double spending attacks or the exploitation of vulnerabilities in cryptocurrency software;

  • any change in the exchange rate of cryptocurrencies;

  • any changes in applicable law or regulation, or the acts of any legislator or regulator in any part of the world;

  • any interruptions to or error of the Site or other communications network;

  • the infringement by any other person of any copyright or other intellectual property rights of another person through use of the Site;

  • the availability, quality, content or nature of external websites;

  • any amount or kind of loss or damage due to viruses or other malicious software that may infect a User's computer equipment, software, data or other property caused by any other person accessing or using the Site;

  • all representations, warranties, conditions and other terms and conditions which, but for this notice, would have effect.

We will not be liable in any amount for failure to perform any obligation under these Terms if that failure is caused by the occurrence of an event beyond our reasonable control.

Except as provided above there are no other warranties, conditions or other terms and conditions, express or implied, statutory or otherwise, and all of those terms and conditions are hereby excluded to the maximum extent permitted by law.

To the maximum extent permitted by law, we exclude all liability (whether in contract, tort (including negligence), breach of statutory duty, or otherwise) for any indirect, special, punitive or consequential loss whether or not that loss arises out of something of which we have been made aware.

To the maximum extent permitted by law, our aggregate liability in respect of any claims made in connection with or arising out of the use of the Site (whether in contract, tort (including negligence), breach of statutory duty, or otherwise) will be limited to 100% of the value of the deposits held to your account and subject of the claim.

You agree not to use the Site in any way which:

  • is unlawful;

  • may give rise to civil or criminal liability for cryptonit; or

  • may bring cryptonit into disrepute.

You hereby agree to indemnify, defend and hold us and our officers, directors, owners, agents, information providers, affiliates, licensors and licensees (collectively, the "Indemnified Parties") harmless from and against any and all liability and costs (including reasonable legal fees) incurred by the Indemnified Parties in connection with any claim arising out of:

  • any fraud or fraudulent misrepresentation you commit;

  • any inaccuracy or defect of any of the information you have provided to us;

  • any breach of applicable law or regulation you commit;

  • any other person’s use of your Account;

  • any breach by you of these Terms; and

  • third party claims arising from your use of the Site, any of Your content or any use of your Account (whether or not such use was by you).

You shall cooperate with us in the defence of any claim. We reserve the right, at our own expense, to assume the exclusive defence and control of any matter otherwise subject to indemnification by you.

Security

Users may activate Google Authenticator and/or email authentication for their Account at any time.

Users may request their own Yubikey at any time for increased protection. If User’s traditional currency turnover per calendar year exceeds 50.000 USD we will send Yubikey for free, otherwise User’s may buy a Yubikey from us for a small fee of 25 USD.

Users are strongly recommended to implement two factor authentication.

User Generated Content

cryptonit is not responsible for any User generated content on the Site. Opinions of Users do not represent in any sense the opinion or viewpoint of cryptonit.

Although we are not obliged to do so, we may remove or reject any User generated content on the Site.

You agree to the distribution of your content by us both internally and externally. Therefore you should ensure that your content does not contain information which you intend to keep confidential or private.

By making available, posting or transmitting your content to the Site, you are granting us a non-exclusive, transferrable, sublicensable, royalty-free, irrevocable, perpetual worldwide licence to use and exploit your content for any purpose.

You agree that you are entitled to make available, post or transmit your content to the Site.

You will not make available, post or transmit to the Site any statement, material or other content, nor use the Site in any way, that:

  • is unlawful or may give rise to civil or criminal liability;

  • infringes any copyright or other intellectual property right of any third party;

  • infringes any third party's rights of privacy or rights of publicity;

  • includes any computer virus or other malicious software;

  • is abusive, pornographic, defamatory, discriminatory or obscene;

  • harasses any other person;

  • interferes with another User's use and enjoyment of the Site;

  • impersonates any moderator, administrator or any staff or any other person connected with cryptonit;

  • contains the confidential information of any other person;

  • solicits passwords or personal information;

  • contains video, photographs, or images of any other person without his or her permission (or in the case of a minor, the minor's legal guardian);

  • exploits any other person; or

  • encourage or provokes any other person to do any of the acts listed above.

If you believe that any User generated content infringes is unlawful, illegal or infringes your rights, please contact cryptonit and we will seek to resolve the issue.

General

These Terms shall be governed by the laws of England and Wales. You hereby irrevocably submit to the exclusive personal jurisdiction of the courts of England for the resolution of any disputes arising from or in connection with these Terms.

Time is not of the essence of these Terms.

These Terms are subject to your statutory and common law consumer rights and will not limit any rights you might have that cannot be excluded under applicable law. These Terms will not exclude or limit our liability for death or personal injury resulting from our negligence nor any fraudulent acts or representations.

We may deduct any monies you owe us from any monies we owe you.

Our failure to enforce any term does not constitute our waiver of that term.

If any part of these Terms is found to be unenforceable, it will be amended to the minimum extent necessary to make it enforceable and the remainder of the provisions will remain in full force and effect.

The Site is intended for and directed at the United Kingdom. No representation or warranty is made as to whether the Site complies with the laws of any other country.

cryptonit will be entitled to assign and otherwise transfer the agreement covered by these Terms by giving you reasonable notice, which may include notice given via the Site.

Contacts

For any kind of problems cryptonit staff can be reached at support@cryptonit.net