Calculate exchange rates. Buy and sell BTC in a few clicks
Many services worldwide give users opportunity to Buy crypto, but we promise it will never be so fast and simple deal as while using Binaryx. Binaryx offers traditional Buy/Sell, Fast-Exchange and Trading operations as well as its personal services. It helps to convert BTC to US Dollars or another fiat-to-crypto/crypto-to-fiat in record fast time! The whole procedure takes less than a few minutes, and, for sure, we guaranty the safety of your funds during the purchase operation.
The simple steps are in a “How to Exchange Bitcoin for Pound Sterling” guide below:
Registration won’t take long. Log-in using your Social Media profiles or create a brand-new account indicating your email.Please note: Specifying your ID-data is not mandatory for creating the account, after the completed registration you’ll get an automatically generated personal cryptocurrency wallet for storing your funds. Also, you’ll have the ability to perform trades...
Check the available assets on the exchange and get ready to deposit your personal account.
Select the trading pair, this time it will be USD/BTC, specify the needed coins amount, choose the order (Market Order is the best suitable for almost immediate operation), push the Buy/Sell button and your first operation on Binaryx is done
Bitcoin appeared in 2008 – right after the Occupy Wall Street movement accused large banks of misusing borrowers, tricking customers, interfering with the financial system, and exorbitant fees. Bitcoin pioneers wanted to transfer responsibility for transactions to sellers, eliminate intermediaries, cancel interest rates, and make transactions transparent to eradicate corruption and limit fees.
They created a decentralized system in which everyone could control their funds and understand what was happening to them. In a relatively short time, Bitcoin has gained impressive popularity.
For transactions, a unique address is used, encrypted with a 16-character key. The buyer decodes the code to transfer bitcoins to the specified address. In other words, cryptocurrency is a digital exchange that allows you to buy or sell goods and services. The transaction is verified on a peer-to-peer computer network, which is similar to Skype or BitTorrent.
Bitcoin is based on an extensive public database called blockchain, where all confirmed transactions are included in the so-called “blocks.” When a block enters the system, it is verified and becomes part of a peer-to-peer network (P2P). Thus, each user has information about each transaction, which helps prevent theft and double spending of funds, in which someone conducts the same operation twice. This process provides user confidence in the system.
The most priority things on Binaryx is to provide the best customer’s experience, stability and safety. The most priority things on Binaryx is to provide the best customer’s experience, stability and safety.
Representative in your country
Binaryx offers traditional Buy/Sell, Fast-Exchange and Trading operations as well as its personal services. It helps to convert BTC to US Dollars or another fiat-to-crypto/crypto-to-fiat in record fast time! The whole procedure takes less than a few minutes, and, for sure, we guaranty the safety of your funds during the purchase operation.
Registration won’t take long. Log-in using your Social Media profiles or create a brand-new account indicating your email.Please note: Specifying your ID-data is not mandatory for creating the account, after the completed registration you’ll get an automatically generated personal cryptocurrency wallet for storing your funds. Also, you’ll have the ability to perform trades...
Check the available assets on the exchange and get ready to deposit your personal account.
Select the trading pair, this time it will be USD/BTC, specify the needed coins amount, choose the order (Market Order is the best suitable for almost immediate operation), push the Buy/Sell button and your first operation on Binaryx is done
Binaryx is the first marketplace of professional crypto-traders based on the most reliable cryptocurrency exchange platform. Start buying and selling Bitcoin, Ethereum, XRP, Tether, Bitcoin Cash with the best crypto-traders, or by yourself.
Are you ready to begin your
[Last revised: 1st of November 2019]
These Terms of Service (hereinafter may also be referred to as “Agreement”) is an electronic agreement between you (hereinafter referred to as “you” and/or “User”) and Binaryx OÜ, a limited company registered in Estonia under registry code 14819844 whose registered address is Männimäe /1, Pudisoo küla Kuusalu vald Harju maakond, 74626, Estonia (hereinafter referred to as “Binaryx” and/or “We”), that applies to your use of this Site, the Binaryx Platform and all the services, products and content provided by Binaryx.
PLEASE READ THIS AGREEMENT CAREFULLY BEFORE USING THE SITE. BY ACCESSING, BROWSING OR REGISTERING TO USE THIS SITE YOU AGREE TO BE BOUND BY THIS USER AGREEMENT. IF YOU DO NOT AGREE TO BE BOUND BY THIS USER AGREEMENT PLEASE DO NOT USE THE BINARYX.
The text of this Agreement contains all essential conditions of the public offer of Binaryx, including references to all essential parts of this Agreement.
This Agreement is considered accepted properly if a User follows the steps listed below:
1. TERMS AND DEFINITIONS
In addition to the other terms defined elsewhere in this User Agreement, the following terms shall have the meanings ascribed to them below:
“Affiliate” means with respect to any Person, an individual, corporation, partnership, firm, association, unincorporated organization or other entity directly or indirectly controlling, controlled by or under common control with such Person. For the purpose of the above mentioned definition, the term “control” and any term derived means: (i) the power (whether directly or indirectly and whether by the ownership of share capital, the possession of voting power, contract or otherwise and whether such power may be exercised alone or jointly with any other Person in order to give effect to the following) to appoint and/or remove all or such of the members of the board of directors or other governing body of a Person as are able to cast more than 50% of the votes capable of being cast by the members of that board or body on all, or substantially all, matters, or otherwise to control or have the power to control the policies and affairs of that Person; or (ii) the holding and/or possession of the beneficial interest in and/or the ability to exercise the voting rights applicable to shares or other securities in any Person (whether directly or by means of holding such interests in one or more other Persons), which confer in aggregate on the holders of more than 50% of the total voting rights exercisable at general meetings of that Person on all, or substantially all, matters. For the avoidance of doubt a change in intermediate control without a change in the person exercising ultimate control shall not constitute a change of control for the purposes of this Agreement.
“Anti-Money Laundering and Anti-Terrorism Policy” means Policy, aimed at prevention of laundering of money derived from criminal activity and financing of terrorism, which constitutes an essential part of the present Agreement, which text in English language is available at https://app.binaryx.com/aml-policy/.
“Business Day” means any calendar day other than Saturday, Sunday or any other day on which banks and credit institutions are authorised to close in Tallinn (Estonia).
“Currency” means Fiat money and Cryptocurrency.
“Currency Pair” means any two Currencies (including Digital assets) that are available to trade through the Binaryx Platform to comprise a Transaction.
“Deposit” means an operation involving a transfer of Funds to the Account.
“Binaryx” (also referred to as “we”) means Binaryx OÜ, a limited company registered in Estonia under registry code 14819844 whose registered address is Männimäe /1, Pudisoo küla Kuusalu vald Harju maakond, 74626, Estonia. Depending on the context, for the purposes of this Agreement Binaryx may also mean services, products, web-sites, content and other materials, provided by Binaryx.
“Digital assets“ shall mean such type of assets which can only and exclusively be transmitted by means of block-chain technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and absolute exempt of the securities of any kind.
“Fees” mean any rewards, charges and/or commissions paid to Binaryx by Users, which are established by Binaryx for the Services.
“Fiat money” means government-issued currency, that is designated as a legal tender in its country of issuance on the legislative level.
“Funds” mean the amount of Fiat money and/or Digital assets which are placed into the User Account and used during the execution of Deposit/Withdrawals/Trades.
“Governmental Authority” means any national, federal, state, provincial, county, municipal or local government, foreign or domestic, or the government of any political subdivision of any of the foregoing, or any entity, authority, agency, ministry or other similar body exercising executive, legislative, judicial, regulatory and/or administrative authority or functions of or pertaining to government, including any authority or other quasi-governmental entity established to perform any of such functions.
“Law” means all applicable laws, regulations, judgments, decrees, treaties, ordinances, orders and rulings, interpretations and statements of policy of any Governmental Authority or regulatory or self-regulatory organization, authority, agency or body, in each case which has jurisdiction over Binaryx, the User, or their respective operations.
“Order” is a bid or offer entered through the Site, which expresses the User’s firm willingness to enter into a Transaction with Binaryx and which the User intends to be matched through the Site with an order from Binaryx.
“Parties” mean Binaryx and the User.
“Person” means an individual, partnership, limited partnership, corporation, limited liability company, joint stock company, unincorporated organization or association, trust or joint venture, or a Governmental Authority or political subdivision thereof. Person also means the Person’s Representatives, successors or permitted assigns.
“Site” means set of information, texts, graphic and design elements, pictures, photo, video and other intellectual creations, as well as set of computer programs contained in the information system, which ensures the accessibility of this information at https://www.binaryx.com.
“Services” means all and any service or products provided by Binaryx.
“Binaryx Platform” means a trading platform, accessible using the internet and/or telecommunications networks and/or through Binaryx Site and/or such other graphical user interface, application program interface or other front-end trading interface as Binaryx may establish or permit from time to time to enable authorized Users of the trading platform to enter into Trades.
“Trade” means as an exchange of the Funds, owned by one User Account to the Funds, owned by the same or another User Account, at the terms and conditions set forth by such exchange parties, and which is executed solely and exclusively within Binaryx Platform with Funds deposited to those Users’ Accounts.
“Term” means the term of this Agreement that shall commence upon acceptance by you of this Agreement according to the procedure defined in the recitals of this Agreement and shall continue as long as you are authorized to use the Binaryx Platform by Binaryx, subject to any earlier termination in accordance with this Agreement.
“Third-Party Content” is the content provided by third parties, including without limitation links to web pages of such parties, which may be represented on Binaryx Platform.
“User” means any Person, who uses the Site and/or the Platform and has concluded this Agreement with Binaryx.
“User Account” means functional part of the Binaryx Platform that controls User Funds.
“User Account Data” means the User’s data necessary to access and use the Binaryx Platform – login, password, email and other data indicated during the registration process, as well as after it.
“Withdrawal” and any term derived means an operation involving a transfer of Funds from the User’s Account.
Other undefined terms and definitions that can be found in the text of this Agreement should be construed by the Parties in accordance with the laws of Estonia. Clause, schedule and paragraph headings do not affect the interpretation of this Agreement. The titles of different sections (articles) of the Agreement have been put with the only objective to make the text more comfortable for the reader and do not have any literal legal effect. A reference to a company shall include any company, corporation or other body corporate, wherever and however incorporated. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular. Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.
Where the words “include(s)”, “including” or “in particular” are used in this Agreement, they are deemed to have the words “without limitation” following them. Where the context permits, other and otherwise are illustrative and shall not limit the sense of the words preceding them.
2. WARRANTIES, REPRESENTATIONS AND COVENANTS
2.1. It is a pre-condition that the Services of Binaryx are only provided to those Users who are permitted to enter in legally binding relationships. Therefore, if there is any reason why User is not able to enter into legally binding relationships with Binaryx, for whatever reason – a User is prohibited to use Binaryx.
2.2. You further represent and warrant that You:
2.3. Binaryx reserves the right to close any of your User Accounts, to liquidate any open trade positions, and to force you to withdraw all Funds from the Binaryx Platform in case if:
2.4. For the purpose of this clause “Applicable Law” refers to all applicable laws of any governmental authority, including, without limitation, federal, state and foreign securities laws, tax laws, tariff and trade laws, ordinances, judgments, decrees, injunctions, writs and orders or like actions of any governmental authority and rules, regulations, orders, interpretations, licenses, and permits of any federal, regional, state, county, municipal or other governmental authority.;
2.5. When accessing or using Binaryx Platform, you further represent, agree and warrant, that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Binaryx Platform. Without prejudice to the generality of the foregoing, you represent, agree and warrant, that you will not:
3. SCOPE OF SERVICES
3.1. Binaryx provides an online digital asset trading platform for products commonly known as cryptographic tokens, digital tokens or cryptographic currency (collectively, “Digital assets”). Binaryx provides fiat to crypto trading capabilities on as part of the Services.
3.2. Binaryx functions as a trading platform provider and not as a buyer or seller in trades made between Users.
3.3. Binaryx is also not a market maker.
3.4. Users must register and open a User account with Binaryx as further set forth in Section 5 below and deposit Digital assets or Fiat prior to commencement of trading. Users may request the withdrawal of their Digital assets, subject to the limitations as stated in this Agreement.
3.5. Binaryx strives to maintain the accuracy of information posted on the Services however it cannot and does not guarantee the accuracy, suitability, reliability, completeness, performance or fitness for any purpose of the content made available through the Services, and will not be liable for any loss or damage that may arise directly or indirectly from your use of such content. Information on the Services can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions.
3.6. Binaryx does not provide investment or advisory services and will have no liability for the use or interpretation of information as stated on the Services or other communication mediums. All Users of the Services must understand that there are risks involved in trading. Binaryx encourages all Users to exercise prudence and trade responsibly within their own means.
4. RISK DISCLOSURE
4.1. Due to the internal policies, Binaryx only provides the Services to Users with sufficient experience, knowledge and understanding of the work principles of our Binaryx Platform, and those who fully understand the associated risks.
4.2. You acknowledge and agree that you shall access and use the Binaryx Platform at your own risk. The risk of loss in trading Digital assets or Fiat can be substantial. You should, therefore, carefully consider whether such trading is appropriate for you in light of your circumstances and resources. You acknowledge and agree the possibility of the following:
4.2. Risks Associated with the Internet-based Binaryx Platform. You acknowledge that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that Binaryx shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Binaryx Platform, howsoever caused.
4.3. Risks Associated with the Blockchain Protocol. Binaryx Platform and its related Services are based on the Blockchain protocol. As such, any malfunction, unintended function, unexpected functioning of or attack on the Blockchain protocol may cause Binaryx Platform to malfunction or function in an unexpected or unintended manner.
4.4. Risks Associated with Blockchains and Digital assets. You acknowledge and accept that the Binaryx has no control over any cryptocurrency network and you understand all risks associated with utilizing any crypto assets network, including, but not limited to the risk of unknown vulnerabilities in or unanticipated changes to any network protocol. We will not be responsible for any harm occurring as a result of such risks.
4.5. No Control Over Your Own Actions. As defined in the foregoing cl. 4.3 and other provisions herein YOU AGREE TO INDEMNIFY AND HOLD BINARYX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION, IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR TECHNOLOGY PLATFORM, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS FORGOTTEN PASSWORDS, INCORRECTLY CONSTRUCTED TRANSACTIONS, LOSS OF YOUR ACCESSES ETC.
5. REGISTRATION OF A USER ACCOUNT WITH BINARYX
5.1. It is necessary to go through the registration process and create a User Account with Binaryx to use Binaryx Platform in a right order and with its full functionality.
5.2. Binaryx reserves the right, in its sole discretion, to limit the number of User Accounts that you may hold, maintain or create. User Accounts cannot be assigned to any third party.
5.3. When you create a User Account, you undertake to:
6. DEPOSIT/WITHDRAWAL TO/FROM USER ACCOUNT
6.1. Binaryx Platform allows Users to remit Digital assets to User Account from external third-party service and vice versa except to certain limitations, which may be updated from time to time. YOU INDEMNIFY AND HOLD BINARYX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH YOUR DEPOSIT/WITHDRAWAL TRANSFER REQUESTED IN VIOLATON OF SETTLED LIMITATIONS.
6.2. Authorization to create an address. You understand and acknowledge, that an address for receiving digital asset will be created automatically as soon as you request the Deposit transfer and before any digital asset can be remitted to Your User Account and you fully and irrevocably authorize its creation.
6.3. Ownership verification. In case you are required to verify, that you possess Digital asset of the third-party service that you use to remit digital asset to your User Account, you undertake to provide such verification by following Binaryx instructions.
6.4. Deposit/Withdrawal Authorization. When you request Us to Deposit/Withdraw Digital assets into or out from your User Account, you authorize Binaryx to execute such Transfer via the Binaryx Platform.
6.5. Deposit/Withdrawal of Fiat is possible only after card payment verification procedure if necessary or submitting any other financial or banking data and details if you are going to use Fiat deposit and withdrawals using Binaryx Platform. You may submit a Declaration of deposit proving User written consent about the provided payment while funding User Account. Declaration of deposit is not obligatory for providing deposit less than 1 000,00 USD. Declaration of deposit of the amount equival or more than 1000,00 USD is obligatory. Submitting of Declaration of withdrawal is obligatory on any amount.
6.5. No control over third-party services. You may be charged fees by the third-party service you use to remit your User Account. Binaryx is not responsible for any third-party services’ fees. You are solely responsible for your use of the third-party service, and you agree to comply with all terms and conditions applicable to any third-party service.
6.6. Rejected or Suspended Deposit/Withdrawal Transfers. In some cases, the third-party service may reject your crypto assets to be processed, suspend the Deposit/Withdrawal Transfer of your crypto assets, or be not able to support the Transfer, or may otherwise be unavailable. YOU AGREE THAT YOU WILL NOT HOLD BINARYX LIABLE FOR ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR IN ANY WAY CONNECTED WITH SUCH REJECTED OR SUSPENDED ETC. DEPOSIT/WITHDRAWAL TRANSFERS.
6.7. Delays. Subject to the terms and conditions of this Agreement, We will use commercially reasonable efforts to record all Transfers on a spot basis as soon as practicable. However the timing associated with Deposit/Withdrawal of Funds depends inter alia upon the performance of third-parties services, and We make no guarantee that Funds will be Deposited/Withdrawn in any specific timeframe. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD BINARYX HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE TRANSFER DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.
7.1. Please note, that we do not provide You with financing. The Trade takes place between Users.
7.2. When you submit a new Trade order via the Binaryx Platform, you authorize Binaryx to:
7.3. You acknowledge and agree that, respective to your trading activity, Binaryx Platform:
7.4. Trade rates. Each placed Trade order creates different market exchange rates. You acknowledge and agree that the rates information made available via the Binaryx Platform may differ from prevailing rates made available via other sources outside of the Binaryx Platform.
7.5. Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any Digital assets, the actual market rate at which a market Trade transaction is executed may be different from the prevailing rate indicated via the Binaryx Platform at the time of your Trade transaction. You understand, that We are not liable for any such rates fluctuations.
7.6. The rates made available via the Binaryx Platform shall not be considered as an investment or financial pieces of advice or referred to as such and cannot be used as a basis of investment strategy, legal position in the court and nothing in the rates information can be ensured to contain no errors, mistakes, mispresentations or failures etc.
7.7. Upon placing an instruction to effect a trade using Binaryx (an “Order”), User Account will be updated to reflect the open Order and your Order will be included in Binaryx’s order book for matching with Orders from other Users. If all or a portion of your Order is matched with another User, Binaryx will execute an exchange (a “Trade”). Upon execution of a Trade, User Account will be updated to reflect that the Order has either been closed due to having been fully executed, or updated to reflect any partial fulfillment of the Order. Orders will remain open until fully executed or cancelled in accordance with subsection (b) below. For purposes of effectuating a Trade, You authorize Binaryx to take temporary control of the Funds that you are disposing of in the Trade.
7.8. You may only cancel an order initiated via Binaryx if such cancellation occurs before your Order has been matched with an Order from another user. Once your Order has been matched with an Order from another user, you may not change, withdraw, or cancel your authorization for Binaryx to complete such Order. If any order has been partially matched, you may cancel the unmatched portion of the Order unless and until the unmatched portion has been matched. Binaryx reserves the right to refuse any cancellation request associated with an Order after you have submitted such Order. If you have an insufficient amount of Funds in a User Account to fulfill an Order, Binaryx may cancel the entire Order or may fulfill a partial Order that can be covered by the Digital Currency in a User Account (in each case after deducting any fees payable to Binaryx in connection with the Trade as described in subsection (c) below).
7.9. You agree to pay Binaryx the fees set forth by Binaryx which may be updated from time to time in Binaryx’s sole discretion. Any such updated fees will apply prospectively to any trades or other transactions that take place following the effective date of such updated fees.
8.1. TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW, THE SERVICES, BINARYX MATERIALS AND ANY PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF BINARYX ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS AND BINARYX EXPRESSLY DISCLAIMS, AND YOU WAIVE, ANY AND ALL OTHER 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. WITHOUT LIMITING THE FOREGOING, BINARYX DOES NOT REPRESENT OR WARRANT THAT THE SITE, THE SERVICES OR binaryx MATERIALS ARE ACCURATE, COMPLETE, RELIABLE, CURRENT, ERROR-FREE, OR FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. BINARYX DOES NOT GUARANTEE THAT ANY ORDER WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN. EXCEPT FOR THE EXPRESS STATEMENTS SET FORTH IN THIS AGREEMENT, YOU HEREBY ACKNOWLEDGE AND AGREE THAT YOU HAVE NOT RELIED UPON ANY OTHER STATEMENT OR UNDERSTANDING, WHETHER WRITTEN OR ORAL, WITH RESPECT TO YOUR USE AND ACCESS OF THE SERVICES. WITHOUT LIMITING THE FOREGOING, YOU HEREBY UNDERSTAND AND AGREE THAT BINARYX WILL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES ARISING OUT OF OR RELATING TO: (A) ANY INACCURACY, DEFECT OR OMISSION OF DIGITAL CURRENCY PRICE DATA, (B) ANY ERROR OR DELAY IN THE TRANSMISSION OF SUCH DATA, (C) INTERRUPTION IN ANY SUCH DATA AND (D) ANY DAMAGES INCURRED BY ANOTHER USER’S ACTIONS, OMISSIONS OR VIOLATION OF THIS AGREEMENT.
THE DISCLAIMER OF IMPLIED WARRANTIES CONTAINED HEREIN MAY NOT APPLY IF AND TO THE EXTENT IT IS PROHIBITED BY APPLICABLE LAW OF THE JURISDICTION IN WHICH YOU RESIDE.
8.2. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL BINARYX, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS BE LIABLE FOR ANY INCIDENTAL, INDIRECT, SPECIAL, PUNITIVE, CONSEQUENTIAL OR SIMILAR DAMAGES OR LIABILITIES WHATSOEVER (INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF DATA, INFORMATION, REVENUE, PROFITS OR OTHER BUSINESS OR FINANCIAL BENEFIT) ARISING OUT OF OR 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 BINARYX AND ITS AFFILIATES, WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY EVEN IF BINARYX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES EXCEPT TO THE EXTENT OF A FINAL JUDICIAL DETERMINATION THAT SUCH DAMAGES WERE A RESULT OF BINARYX’S GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT OR INTENTIONAL VIOLATION OF LAW. SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU. NOTWITHSTANDING THE FOREGOING, IN NO EVENT WILL THE LIABILITY OF BINARYX, ITS AFFILIATES AND THEIR RESPECTIVE SHAREHOLDERS, MEMBERS, DIRECTORS, OFFICERS, EMPLOYEES, ATTORNEYS, AGENTS, REPRESENTATIVES, SUPPLIERS OR CONTRACTORS ARISING OUT OF OR IN CONNECTION THE SERVICES, ANY PERFORMANCE OR NON-PERFORMANCE OF THE SERVICES, OR ANY OTHER PRODUCT, SERVICE OR OTHER ITEM PROVIDED BY OR ON BEHALF OF BINARYX OR ITS AFFILIATES WHETHER UNDER CONTRACT, STATUTE, STRICT LIABILITY OR OTHER THEORY, EXCEED THE AMOUNT OF THE FEES PAID BY YOU TO BINARYX UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT GIVING RISE TO THE CLAIM FOR LIABILITY.
You agree to indemnify and hold harmless Binaryx, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, the Services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of the Service. If you are obligated to indemnify Binaryx, its affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to this clause, Binaryx will have the right, in its sole discretion, to control any action or proceeding and to determine whether Binaryx wishes to settle, and if so, on what terms.
Please be aware that all official announcements, news, promotions, competitions and airdrops where we urge all users to refer to regularly. Binaryx will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.
11. TERMINATION OF AGREEMENT
• The User Account is subject to a governmental proceeding, criminal investigation or other pending litigation;
• We detect unusual activity in the User Account;
• We detect unauthorized access to the User Account;
• We are required to do so by a court order or command by a Government authority.
11.2. In case of any of the following events, Binaryx shall have the right to directly terminate this Agreement by cancelling your User Account, and shall have the right to permanently freeze (cancel) the authorizations of your User Account on Binaryx and withdraw the corresponding Binaryx Account thereof:
• after Binaryx terminates services to you;
• you allegedly register or register in any other person’s name as Binaryx User again, directly or indirectly;
• the information that you have provided is untruthful, inaccurate, outdated or incomplete; when these Terms are amended, you expressly state and notify Binaryx of your unwillingness to accept the amended Terms;
• you request that the Services be terminated; and
• any other circumstances where Binaryx deems it should terminate the services.
11.3. Should your User Account be terminated, the User Account and transactional information required for meeting data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the Account termination process, Binaryx shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.
11.4. If Binaryx receives notice that any Funds held in your User Account are alleged to have been stolen or otherwise are not lawfully possessed by you, Binaryx may, but has no obligation to, place an administrative hold on the affected Funds and your User Account. If Binaryx does place an administrative hold on some or all of your Funds or User Account, Binaryx may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to Binaryx has been provided to Binaryx in a form acceptable to Binaryx. Binaryx will not involve itself in any such dispute or the resolution of the dispute. You agree that Binaryx will have no liability or responsibility for any such hold, or for your inability to withdraw funds or execute trades during the period of any such hold.
11.4. Except as set forth in subsection 11.5. below, once the User Account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to Binaryx) on the User Account will be payable immediately to Binaryx. Upon payment of all outstanding charges to Binaryx (if any), the User will have 5 business days to withdraw all Funds from the Account.
11.5. Remaining Funds after User Account termination due to fraud, violation of law, or violation of these terms) Binaryx maintains full custody of the funds and User data/information which may be turned over to governmental authorities in the event of User Account suspension/closure arising from fraud investigations, violation of law investigations or violation of these Terms.
12. COMPLIANCE WITH LOCAL LAWS
It is the responsibility of the User to abide by local laws in relation to the legal usage of Binaryx in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All Users of Binaryx and any of its Services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. Binaryx maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and Funds of Users which are flagged out or investigated by legal mandate.
14. RESOLVING DISPUTES: FORUM, ARBITRATION, CLASS ACTION WAIVER, GOVERNING LAW
PLEASE READ THIS SECTION CAREFULLY, AS IT INVOLVES A WAIVER OF CERTAIN RIGHTS TO BRING LEGAL PROCEEDINGS.
14.1. Notification of Dispute. Please contact Binaryx first! Binaryx wants to address your concerns without resorting to formal legal proceedings. Before filing a claim, you agree to try to resolve the dispute informally by contacting Binaryx first.
14.2. Agreement to Arbitrate.You and Binaryx agree to resolve any claims relating to this Agreement (including any question regarding its existence, validity, termination, or any services or products provided and any representations made by us) through final and binding arbitration, except as set forth under Exceptions to Agreement to Arbitrate below. You agree to first give us an opportunity to resolve any claims by contacting us as set forth in subsection (a) above. If we are not able to resolve your claims within 60 days of receiving the notice, you may seek relief through arbitration or in the courts of Estonia, as set forth below.
14.3. Arbitration Procedure. Either You or Binaryx may submit a dispute (after having made good faith efforts to resolve such dispute in accordance with subsections (a) and (b) above) for final, binding resolution by arbitration under the arbitration rules of the Arbitration Court of the Estonian Chamber of Commerce and Industry. The language of the arbitration hearings shall be English and the seat, or legal place, of arbitration shall be Estonia. Judgment on any arbitral award may be entered in any court having jurisdiction over the party (or the assets of the party) due and owing such award.
14.4. Exceptions. Either party may instead choose to assert the claims in the Arbitration Court of the Estonian Chamber of Commerce and Industry if the claims fall within the jurisdiction of Estonia, and either party may seek injunctive relief or other urgent equitable relief in a court of competent jurisdiction. However, for the avoidance of doubt, where the claims fall outside of the jurisdiction of Estonia, the claims will be referred to and finally resolved by Estonian arbitration.
14.5. Notice. To begin an arbitration proceeding, you must send a letter requesting arbitration and describing your claims to Binaryx. If we request arbitration against you, we will give you notice at the email address or street address you have provided.
14.6. Controlling Law. This Agreement is governed by the law of Estonia except for its conflicts of laws principles, unless otherwise required by a mandatory law of any other jurisdiction.
15.1 Independent Parties. Binaryx is an independent contractor and not an agent of you in the performance of this Agreement. This Agreement is not to be interpreted as evidence of an association, joint venture, partnership, or franchise between the parties.
15.2. Entire Agreement. This Agreement constitutes the entire agreement between the parties regarding use of the Services and will supersede all prior agreements between the parties whether, written or oral. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms of these Terms.
15.3. Force Majeure. Binaryx will not be liable for any delay or failure to perform as required by this Agreement because of any cause or condition beyond Binaryx’s reasonable control.
15.4. Severability. If any portion of this Agreement are held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of this Agreement, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.
15.5. Assignment. You may not assign or transfer any right to use the Services or any of your rights or obligations under this Agreement without prior written consent from us, including by operation of law or in connection with any change of control. Binaryx may assign or transfer any or all of its rights or obligations under this Agreement, in whole or in part, without notice or obtaining your consent or approval.
15.6. Waiver. The failure of a party to require performance of any provision will not affect that party’s right to require performance at any time thereafter, nor will a waiver of any breach or default of this Agreement or any provision of this Agreement constitute a waiver of any subsequent breach or default or a waiver of the provision itself.
15.8. Amendments of Agreement. Binaryx has the right to unilaterally change this Agreement. The changes take effect in 3 (three) days after the moment the new version of corresponding documents is published on the Site. If the User does not accept new edition of this Agreement, he/she should stop using the Site.
15.8. Contact Information. For more information on Binaryx, you can refer to the company and license information found on the website. If you have questions regarding this agreement, please feel free to contact Binaryx for clarification via our Customer Support team at email@example.com.
Last updated: 1st of November 2019
Binaryx understands that Your privacy is important to You and that You care about how Your information is used and shared online. We respect and value the privacy of everyone who visits Our Site or Uses Our Services and will only collect and use information in ways that are useful to You and in a manner consistent with Your rights and Our obligations under Data Protection Legislation.
1.INFORMATION ABOUT US
Our Site, aws-test.rt3.pw/, is owned and operated by Binaryx OÜ, a limited company registered in Estonia under registry code 14819844, whose registered address is Männimäe /1, Pudisoo küla Kuusalu vald Harju maakond, 74626, Estonia.
2. WHAT DOES THIS POLICY COVER
2.2. Binaryx handles Personal Data both as a Controller – such as in respect of your Binaryx account and as a Processor on behalf of third parties – such as our service providers who may get access to Your Personal Data in cases defines below.
2.3. This Policy applies to Our use of all data collected directly by us as a data Controller or processed by us on behalf of third parties, as data Processor, in relation to Your use of Our Site or Our Services via Your usage of technology such as, but not limited to, HTML widgets hosted on third-party platforms.
3. WHAT DATA DO WE COLLECT
3.1. Information you give to us
You can provide us with information about yourself by filling in the relevant forms on the website or by providing us such information by phone, email, during a video conference or in any other manner. This information includes Personal Data which was specified when registering on the Site, when subscribing to our Service, opening a User account and verifying the identity of the account holder or persons authorized to use it, as well as the payment instruments used by a person, when searching for a product, using any of services provided by our website, while placing orders on our website, by participating in discussions or using any other communication functions on our website, during participation in draws, promotions or surveys, and also when you tell us about problems or issues in the work of the website. The data that You provide us, can include your last name and first name, your photos; Your videos, your address; Your nationality, Your tax residency, Your phone number; Your e-mail address; Your logins and nicknames, Your bank details, including account numbers and payment details; your date of birth; Your education; Your experience and place of work, Your sources of income and their amount; information on the status of Your accounts opened with banks or payment systems.
3.2. Information we collect about You
With regard to each of Your visits to our Site and use of our services we can collect, for example, the following information about You (including automatically):
3.3. Information we receive from other sources
We may receive information about You if you use any of the other websites we operate or the other services we provide. We are also working closely with third parties (including, for example, business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies) and may receive information about You from them.
4.3. By using Our Site, You may also receive certain third-party Cookies on Your computer or device. Third party Cookies are those placed by websites, services, and/or parties other than Us. We use third party Cookies on Our Site for analytics, advertising and general business purposes. These Cookies are not integral to the functioning of Our Site.
4.4. All Cookies used by and on Our Site, are used in accordance with current Estonian and EU Cookie Law.
4.5. Our Site uses analytics services provided by Google Analytics. Website analytics refers to a set of tools used to collect and analyse usage statistics, enabling Us to better understand how people use Our Site. This, in turn, enables Us to improve Our Site and the products and Services offered through it. You do not have to allow Us to use these Cookies, as detailed below, however whilst Our use of them does not pose any risk to Your privacy or Your safe use of Our Site, it does enable Us to continually improve Our Site, making it a better and more useful experience for You.
4.6. You can choose to enable or disable Cookies in Your internet browser. Most internet browsers also enable You to choose whether You wish to disable all cookies or only third-party cookies. By default, most internet browsers accept Cookies, but this can be changed. For further details, please consult the help menu in Your internet browser or the documentation that came with Your device.
4.7. You can choose to delete Cookies at any time however You may lose any information that enables You to access Our Site more quickly and efficiently including, but not limited to, login and personalisation settings.
4.8. It is recommended that You keep Your internet browser and operating system up-to-date and that You consult the help and guidance provided by the developer of Your internet browser and manufacturer of Your computer or device if You are unsure about adjusting Your privacy settings.
5. PURPOSE OF DATA COLLECTION AND PROCESSING
5.1. We may use your Personal Information for the following purposes:
5.2. Unless consented, Your data for this purpose would be anonymised.
6. LEGAL BASE FOR PERSONAL DATA PROCESSING
6.1. We collect and process your Personal Data only when we have a legitimate reason for such processing. Legal grounds include consent (in cases where you provide it), an agreement contract (in cases where processing is necessary to fulfill the terms and conditions of contracts between you and Binaryx), compliance with a legal obligations (in cases where Binaryx is required to request / receive and process as well as to store your Personal Data in order to comply with the requirements of applicable laws, for example the laws related to anti-money laundering and counter-terrorist financing and legitimate interest (for example, when processing is necessary to protect you or us from certain threats (fraud, security, etc.), compliance with the provisions of applicable laws, the proper level of conduct of our business (the quality of the services provided, identification of needs, preparation of reports), conclusion and implementation of corporate transactions (sale of participant interests / shares, mergers, acquisitions), etc.).
6.2. In cases where the basis for data processing is the consent, you have the right to withdraw it at any time.
7. SECURITY AND STORAGE OF PERSONAL DATA
7.2. Your data will be stored within the European Economic Area (“the EEA”) (The EEA consists of all EU member states, plus Norway, Iceland and Liechtenstein).
7.3. The information we receive from you can be transferred and stored outside the European Economic Area (EEA). The information about you can be processed by our employees or employees of service providers outside the EEA.
7.6. We have implemented security measures to ensure the confidentiality of Your Personal Data and to protect your them from loss, misuse, alteration or destruction. Only authorized personnel of Binaryx have access to Your Personal Data, and these personnel are required to treat the information as confidential. The security measures in place will, from time to time, be reviewed in line with legal and technical developments.
7.7. Data security is of great importance to Us, and to protect Your data We have put in place suitable physical, electronic and managerial procedures to safeguard and secure data collected through Our Site. Steps We take to secure and protect Your data include: encrypting communication between users and our servers by enforcing SSL; encrypt sensitive data such as communication between users at rest; apply proactive security best practices
7.8. Notwithstanding the security measures that We take, it is important to remember that the transmission of data via the internet may not be completely secure and that You are advised to take suitable precautions when transmitting to Us data via the internet. Although we will do our best to protect your Personal Data, we cannot guarantee the security of Your data transmitted to our site, and any transmission is at Your own risk. Once we have received Your information, we will use strict procedures and security features to try to prevent unauthorized access.
8. USER RIGHTS AND CONTROL
8.1. Subject to the provision of this Clause, You have the legal right to: ask for a copy of any of Your Personal Data controlled by Us; correct any information that is controlled by Us; delete information controlled by Us.
8.2. Where We process Your data on behalf of a third party (who is the data Controller) You should make requests in the first instance to them. We will not charge a fee for complying with such requests. Requests should be made by email to firstname.lastname@example.org.
8.3. Where We are the Controller of the Personal Data that You have requested, We will respond to the request within 1 month, unless the request is particularly complex. As data Controller We may exercise the right to withhold details of Personal Data requested by You where disclosure would adversely affect the rights and freedoms of others.
8.4. When You submit Personal Data, to Us You will be given options to restrict Our use of Your data. In particular, We aim to give You strong controls on Our use of Your data for direct marketing purposes (including the ability to opt-out of receiving communications from Us or select third parties, which You may do by declining the option to receive such communications at the point of accessing the Services or by unsubscribing using the links provided in Our emails, by managing Your Account or through making a request under section below.
8.5. You may access certain areas of Our Site without providing any data beyond that required for the function that You wish to use, to operate. However, to use all features and functions available on Our Site or within Our Services and specifically where Your Personal Data is a prerequisite for the operation of that Service You may be required to submit or allow for the collection and processing of certain data. Where that is the case, We will advise You at the point that You seek access to such Services. Where, in such circumstances, you chose to withhold any Personal Data requested by us, it may not be possible to access parts of Our Site or to use the Services that you are requesting access to.
9. CONTACT US
10. CHANGES TO POLICY
1.1. Company Binaryx OÜ, a limited company registered in Estonia under registry code 14819844, whose registered address is Männimäe /1, Pudisoo küla Kuusalu vald Harju maakond, 74626, Estonia (hereinafter – Binaryx) is a cryptocurrency exchange.
1.2. Binaryx shall comply with the requirements contained in the Estonian Money Laundering and Terrorist Financing Prevention Act dated by 26.10.2017, as well as the requirements of other laws and regulations to the extent in which they relate to the Binaryx’s operations, including the FinCEN requirements, the requirements set forth by the Office of Foreign Assets Control (OFAC), US Patriot Act, AML Directives of the EU.
1.3. Binaryx shall strictly adhere to the policies and procedures outlined in this document (hereinafter – the Policy).
1.4. Binaryx develops this Policy, introduces amendments and additions to it at its own discretion, and oversees compliance with its provisions and requirements.
1.5. The current version of the Policy is always available on the Site.
1.6. The User shall read the Policy prior to accepting the Binaryx User Agreement. The User’s acceptance of the Binaryx User Agreement, as well as using the Site, the User making transactions, shall signify the User’s acceptance of all provisions of the current version of this Policy.
2.1. The management board of Binaryx appointed an Сompliance officer.
2.5. The functions of the Compliance officer are as follows:
2.5.1. organization of collection and analysis of information referring to unusual transactions or transactions suspected of money laundering or terrorist financing in the activities of the Binaryx (collection of information means collection of any and all suspicious or unusual notices received from the employees, contractual partners and agents of Binaryx, and systemizing and analysis of the information contained in them);
2.5.2. reporting to the Financial Intelligence Unit (hereinafter the FIU) in the event of suspicion of money laundering or terrorist financing (notice being given in the manner agreed with the FIU);
2.5.3. periodic submission of written statements on implementation of the rules of procedure to the management board of Binaryx; and
2.5.4. performance of other obligations related to the fulfilment of the requirements of the Money Laundering and Terrorist Financing Prevention Act by the financial institution including instructing and training employees and applying respective control mechanisms.
2.6. The Compliance officer has access to the information forming the basis or prerequisite for establishing a business relationship, including any information, data or documents reflecting the identity and business activity of the User.
3.1. The Know-Your-Customer principle is followed upon User identification. This principle means that the operating profile, purpose of operation, beneficial owner of the person as a potential customer and, if necessary, the source and origin of the funds used in the transactions and other similar information essential for the establishment of a business relationship shall be identified in addition to the person. Upon making transactions, the customer shall be identified and the compliance of transactions shall be assessed based on the customer’s main fields of activity and prior payment behaviour.
3.2. In line with the risk-based approach, Binaryx shall choose, among other things, the suitable scope of the KYC principle.
3.3. Binaryx shall identify User and the beneficial owner within a reasonable period of time prior to the commencement of the steps for entry into a long-term contract or while entering into the contract.
3.4. Any information and documents concerning establishment of identity shall be preserved in a manner making it possible to respond fully and without unreasonable delay to relevant enquiries from the FIU, investigating body, court or supervision authority. To this end, Binaryx shall set up a system enabling, in view of the characteristics of its activities, the prompt retrieval from databases and documents of the required information or document concerning identification of the customer or person participating in the transaction.
3.5. For the purposes of Customers’ identification, Binaryx requests the following documents:
To verify a personal account:
To verify a business account:
3.6. After carrying out the identification procedures pertaining to a User, Binaryx stores the information obtained in this User’s file. Binaryx is under obligation to carry out the identification procedures pertaining to a User once.
3.7. Binaryx is committed to protecting Users’ rights and the confidentiality of their personal data. Binaryx collects personal information from Users only to the extent necessary to ensure the Binaryx’s properly providing services to User. Such personal information about Users and former Users may be disclosed to third parties only in a limited number of circumstances, in accordance with the applicable laws and agreements between Binaryx and the User.
3.8. Binaryx shall carefully maintain Users’ files, including statements, transaction reports, receipts, notes, internal correspondence, and any other documents related to the User both in the electronic and paper format for a period of at least 5 (five) years from the date of the relevant transaction.
POLITICALLY EXPOSED PERSONS
4.1. Binaryx established internal procedures in order to decide whether a potential User or its beneficial owner is a politically exposed person of a contracting state of the European Economic Area or third country, a domestic politically exposed person or a person who is or has been entrusted with a prominent function by an international organisations.
4.2. Binaryx shall identify the close associates and family members of politically exposed persons only if their link to a person carrying out significant duties of public authority is known to the public or if Binaryx has reason to believe that such a link exists.
4.3. With regard to politically exposed persons, Binaryx shall take the following measures in addition to relevant customer due diligence measures:
4.5. The establishment of a business relationship with a politically exposed person shall be decided by the management board of the politically exposed person or the person(s) authorised by the management board. If a business relationship with a customer has been established and the customer or the beneficial owner later proves to be or becomes a politically exposed person, the management board (or persons authorised by the management board) shall be informed.
4.6 Binaryx shall exercise regular enhanced supervision in business relationships established with a politically exposed person (except in cases provided by law).
4.7. Regular supervision shall also be exercised by Binaryx after a politically exposed person has ceased to be a politically exposed person if Binaryx feels, based on the risk-based approach, that the person still entails a higher risk.
SPECIFIC ISSUES CONCERNED WITH IDENTIFICATION
5.1. Identifying of beneficial owner of individual
5.1.1 Upon identifying an individual, Binaryx shall, in the event of doubt, also identify the beneficial owner of the individual, i.e. the person who controls the actions of the individual.
5.1.2. A doubt about the existence of a beneficial owner may arise, above all, if Binaryx perceives, upon applying customer due diligence measures, that the individual has been swayed to establish the business relationship or enter into the transaction. In such an event the person who exercises control over the individual shall be deemed the individual’s beneficial owner.
5.1.3. It shall be taken into account that the scope of customer due diligence, including upon identifying the beneficial owner, is related to the risk of money laundering and terrorist financing, which depends on the type of customer, its country of origin, business relationship, product, service or transaction.
5.2. Civil law partnerships and other contractual associations
5.2.1. Upon identification of civil law partnerships, all of the members of the partnership or their representatives shall be identified on the grounds applicable to individuals. The beneficial owners of the partnership shall be identified.
5.2.2. In the case of civil law partnerships, the purpose of their activity and, if necessary, the origin of the funds used shall be identified. Thereby one may rely, among other things, on clarifications and statements given by the representative of the partnership. Binaryx shall make sure that the use of funds by the partnership corresponds to the purposes of activity declared by it previously.
5.2.3. Data of the members of the partnership and their representatives shall be preserved and regularly updated.
5.3. General requirements regarding identification of legal entity upon establishment of business relationship
5.3.1. The business name, registry code, seat and place of business, information about the legal form, passive legal capacity, representatives (legal representatives and those authorized to represent the legal entity in relations with Binaryx) and beneficial owners shall be identified upon identifying legal entities. The operating profile, business partners, purpose of operation, purpose of establishment and characteristics of business relationships and other similar information required for the establishment of business relationships shall be identified as well.
5.3.2. Upon determining the seat of a legal entity, both the theory of the country of foundation as well as the theory of the seat shall be used to identify whether the legal entity may involve country and geographical risks.
5.3.3. The place of business of a legal entity shall be determined on the basis of factual circumstances, i.e. where production is based or a service is provided.
5.3.4. The identification and verification of the identity and passive legal capacity of a legal entity shall be carried out, as a general rule, on the basis of the information contained in the commercial register (in Estonia) or another equivalent register or a copy of the registration certificate or an equivalent document (for instance, in countries where there is no national register, foundation documents certified by a notary are considered equivalent) submitted in accordance with the procedure provided by law. Documents issued by a register or their equivalents shall have been issued no earlier than 6 months prior to their submission to Binaryx.
5.3.5. Documents issued in a foreign state shall be legalized or apostilled, i.e. in order to use an official document issued in one country in another, an internationally recognized certificate of the authenticity of the document is given in another.
5.3.6. Documents issued by Lithuanian, Latvian, Polish, Ukrainian or Russian authorities and officials do not require legalization or an apostille.
5.3.7. To be legalized, a document shall go through the legalization authorities of the issuing state as well as those of the receiving state (usually, foreign ministries).
5.3.8. Upon identification, legal entities are not required to submit an extract of their registry card if Binaryx has access to the required extent via the computer network to the data in the commercial register or register of non-profit organizations and foundations (including access to data in respective registers in the foreign country).
5.3.9. Upon identification of a legal entity, Binaryx is required to register the names of the executive of the legal person or members of its management board or another body substituting for it, their powers in representing the legal entity and the principal field of activity of the legal entity. If the aforesaid details are not indicated by the register extract or another relevant document, the relevant information shall be obtained by using other documents and/or reliable sources of information.
5.3.10. The need for use, the criteria of use and/or the list of reliable sources of information shall be specified by Binaryx (e.g. information issued by national registers, public authorities, credit institutions, foreign missions of the Republic of Estonia and foreign missions in Estonia may be used).
5.3.11. Binaryx shall identify the existence of politically exposed persons related to the legal entity. If no respective links appear in the information about a politically exposed person obtained from the representative of the legal entity, an enquiry shall be made with the respective databases in the event of suspicion.
5.3.12. In the case of international organizations, the documents serving as the basis for their activities (including in Estonia) shall be determined and the submission of relevant documents shall be requested. If necessary, information required for the establishment of the business relationship which is contained in the documents shall be verified.
5.4.1. Binaryx shall verify if the person is acting on their own behalf or on behalf of another (natural or legal) person. If the person is acting on behalf of another person, Binaryx shall also identify the person on behalf of whom transactions are performed.
5.4.2. Documents required to identify a legal entity shall be submitted by the legal representative or authorized representative of the entity. Binaryx shall make certain that the right of representation complies with legislation. If the submitted documents do not indicate the right of representation of the individual submitting them and/or the authority is not compliant, the identification process (and thus also the establishment of the business relationship or performance of the transaction) cannot be continued.
5.4.3. Binaryx shall identify the basis, scope and term of the representative’s right of representation. The representative shall be asked to submit a document proving the right of representation. Further attention shall be paid to the verification of the identity and right of representation of authorized representatives operating or residing in a jurisdiction different from the legal entity’s jurisdiction or whose rights of representation are valid for more than a year.
5.4.4. Clarification shall be sought on the scope of the right of representation granted to the authorized representative (for instance, whether a one-off transaction or recurring transactions over a certain period are involved). Binaryx shall take notice of the terms of the right of representation granted to the authorized representative and provide services only to the extent of the right of representation.
5.4.5. Under subsection 5 of § 22 of the Money Laundering and Terrorist Financing Prevention Act, Binaryx has the right to request that the representative of a legal entity of a foreign country submit documents proving their right of representation, notarised or certified in an equivalent manner and legalized or certified with an apostille, unless provided for otherwise in an international agreement.
5.4.6. Upon handling the right of representation of authorised and legal representatives, it shall be made certain whether the representative knows their customer. To identify the true nature of the relationships between the representative and the represented, the representative shall know the substance and purpose of the declarations of intent by the represented party and be able to answer other relevant questions about the seat of operations, fields of activity, sales and transaction partners, other related persons and beneficial owners. In addition, the representative shall confirm with their signature that they are aware and convinced of the source and legal origin of the funds used in the transaction of the represented entity.
5.5. Identification of beneficial owner of a legal entity
5.5.1. Upon the identification of a legal entity, Binaryx shall register the beneficial owner of the entity.
5.5.2. In a situation where no person holds or identifiably controls more than 25%, the circle of beneficial owners will be identified pursuant to the principle of proportionality, according to which information shall be requested about the shareholders, partners and other persons who exercise control or other significant influence over the activities of the legal entity.
5.5.3. If the identification documents of a legal entity or other submitted documents do not indicate the beneficial owner of the entity, the relevant information (including information about membership of the group of companies and the ownership and management structure of the group of companies) shall be registered on the basis of the statements or a handwritten document of the representative of the entity.
5.5.4. In order to verify information identified on the basis of statements or a handwritten document, reasonable measures shall be applied (e.g. the filing of a query with relevant registers) and the submission of the annual report or another relevant document of the legal entity shall be requested.
5.5.5. Binaryx may use a risk-based approach and take sufficient measures to verify the identity of the beneficial owner with the aim of making certain as to whom the beneficial owner in the business relationship or transaction is. With respect to compliance with this requirement, Binaryx is left with several options in order to decide: the extent to which public information about shareholders or members will be used; the extent to which relevant information will be requested orally or to record obtained information in writing or in a form that can be reproduced in writing;
in which cases the customer will be asked to complete a respective questionnaire; or what other options can be used and are practicable in the event of Binaryx.
5.5.6. It shall be taken into account that the scope of customer due diligence with respect to the customer (incl. identification of the beneficial owner) is related to the risk of money laundering and terrorist financing, which depends on the type of customer, their country of origin, business relationship, product, service and transaction.
5.5.7. Higher attention shall be paid to companies founded in territories with a low tax rate, whose beneficial owners are often difficult to identify.
5.5.8. Binaryx can consider a person who exercises control in another manner, without having a 25% shareholding in Binaryx, as the beneficial owner. This situation arises when Binaryx suspects that a third party whose links to a company cannot be legally proven or are difficult to prove the exercises of control over management of a legal person.
5.6. Requirements for identification of non-resident legal entities
5.6.1. In the event of the identification of legal entities that are non-residents, Binaryx shall comply, to the greatest extent possible, with the same requirements as in the event of customers that are residents, taking into account the specifications arising from the country of origin and legal form of the non-resident customer. Due to differences in legal regulations in different countries, the rules of procedure of Binaryx shall also set out detailed requirements and guidelines for the identification of the passive legal capacity of the legal entity by means of other documents and/or reliable information sources.
5.6.2. Upon identifying the passive legal capacity of a non-resident legal entity and handling documents certifying the powers of representatives, it shall be verified whether the documents meet the requirements established in Estonian legislation with respect to legalisation of foreign documents.
5.6.3.Due to differences in legal regulation in different countries, Binaryx shall pay attention, above all, to companies founded in countries or territories with a low tax rate, because it is not always abundantly clear whether they have passive legal capacity. In many countries, the standards for identifying a customer and registration and preservation of documents are lower than in Estonia, as a result of which particular attention shall be paid to the content of the documents of the companies registered in such countries and to the manner of their submission.
5.6.4. Particular attention shall be paid to information and documents submitted in the case of persons whose country of origin is on the FATF’s list of countries that do not contribute sufficiently to the prevention of money laundering. Binaryx shall avoid business relations with persons whose place of residence or location is in the country listed by FATF high risk and non-cooperative countries. That list can is defined at: http://www.fatf-gafi.org/countries/#high-risk .
5.6.5. In the event of foreign-language documents, Binaryx is entitled to request a translation of the documents into a language understood by it. The use of translations should be avoided in a situation where the original documents have been prepared in a language understood by Binaryx (e.g. the translation of English-language original documents into Russian).
5.7. General requirements regarding the application of customer due diligence measures upon execution of transactions
5.7.1 In addition to the establishment of a business relationship, customer due diligence measures shall also be taken if:
5.7.1. in the event of any kind of transaction, incl. in the event of an offer made in the course of provision of a counselling service whose price exceeds the limit specified in the Money Laundering and Terrorist Financing Prevention Act. Thereby it is irrelevant whether the pecuniary obligation is performed by means of cash or cashless settlements;
5.7.2. the amount of a single transaction or the total amount of consecutive transactions exceeds the limit provided by law (or the internal procedure rules of Binaryx). The obligation shall be performed upon occasional transactions made by a non-customer;
5.7.3. Binaryx has doubts about the correctness or sufficiency of the data collected upon establishment of the business relationship and if the actions of the other party are not ordinary or transparent as well as if Binaryx suspects money laundering or terrorist financing; and
5.7.4. Binaryx does not suspect money laundering or terrorist financing for the purposes of subsection 1 of § 49 of the Money Laundering and Terrorist Financing Prevention Act and does not have the reporting obligation for the purposes of subsection 3 of § 49 of the Money Laundering and Terrorist Financing Prevention Act, but the transaction is complex and extraordinarily large or the transaction scheme is unusual and does not have an obvious economic or legal purpose.
5.7.2. Binaryx shall constantly assess changes in the customer’s operations and whether these may raise the risk level so that additional customer due diligence measures need to be taken.
5.7.3. The application of customer due diligence measures also calls for the existence of the respective monitoring systems whose purpose is to detect reaching the transaction limit or the existence of risk factors and inform the appropriate persons thereof for the purpose of identifying suspicious or unusual transactions. If Binaryx comes to suspect money laundering in the course of monitoring transactions, the FIU shall be informed thereof.
6. FOLLOWING TRANSACTIONS
6.1. The following of unusual and suspicious transactions is an important part of the set of customer due diligence measures applied by financial institutions and allows for the identification of circumstances that may point to money laundering or terrorist financing in the economic activities of customers. Also, the purpose of following a customer’s transactions is to identify transactions with subjects of international sanctions and politically exposed persons and detect and notify of transactions whose limit or other parameters exceed the prescribed value over a certain period of time.
6.2. Transaction-following measures can be divided into two. One can use measures which enable, based on parameters or features developed with the help of Binaryx’s prior work experience, transactions to be followed in real time as well as analysed afterwards.
6.3.1. In the event of following transactions in real time, customer executives or other employees observe, upon performing their duties, the customer’s behaviour and transactions with the aim of detecting unusual or suspicious transactions or transactions exceeding the prescribed limits.
6.3.2. Upon following transactions in real time, information technology tools which, using predefined parameters, select transactions made over a certain period shall be used. The screening parameters depend on information technology possibilities and established goals. What shall be identified is as follows:
politically exposed persons involved in transactions;
transactions with persons whose name, date of birth etc. match data disclosed in lists of persons subject to international sanctions;
transactions with persons whose country of operation or origin is included on the list of higher (terrorist) risk countries; and persons whose transactions are subject to one-off temporary monitoring.
6.4.1. Default User have right to use only banking accounts opened in their name. In some cases User may use the banking account of a third party if there is a legal ground for it and provides all documents and information requested to Binaryx.
6.4.2. Binaryx shall analyze User previous financial transactions before entering in a deal with Binaryx if it is required and neсessary.
6.4.3. Upon monitoring transactions, measures shall be taken to verify the submission of information required about the payer upon money transfer, banking transfer. In order to help detect suspicious transactions, payment service providers should take measures to detect the absence of payer-related information in payment instructions.
6.4.4. With the help of monitoring systems, the recipient’s payment service provider shall check whether the reporting or payment and settlement system fields used for making the transaction have been filled with the symbols or input used in the reporting or payment and settlement system with regard to the information relating to the payer.
6.4.5. Using monitoring systems, payments with insufficient data about the payer (incl. the payer’s name, address and account number) shall be identified among the payments of the payment service provider of the payer. Thereby the payer’s address can be replaced with the payer’s date and place of birth, customer number or personal identification code, and if the payer does not have an account number, the payment service provider of the payer will replace it with a unique feature with the help of which the payer can be identified.
6.4.6. For the purpose of analysing transactions afterwards (monitoring), Binaryx can analyse transactions separated from the mass of transactions based on predefined parameters. Transactions it is not possible to interfere with during execution (e.g. transactions made via an ATM) are the main objects of monitoring. In addition, upon subsequent monitoring of transactions, the largest transactions based on the sum, currency and customer type over a certain period are analysed. A list of typical parameters on the basis of which transactions can be selected for monitoring is given below: single large international payments (e.g. whereby the sum ends with at least four zeros); international payments whose description contains the words „loan‟, „deposit‟, „payback‟ etc.; accounts (of individuals and legal entities) with the highest turnover in the period under review based on currencies (of individuals and legal entities); the largest transactions (of individuals and legal entities) in the period under review (of individuals and legal entities) based on different currencies; transactions made via an ATM which exceed a certain limit over the period under review; cash withdrawals in a bank branch based on currencies as well as individuals and legal entities which exceed a certain limit; single transactions that exceed the limit, which are made by customers whose turnover is small; sudden upsurge in turnover of holders of correspondent banks‟ VOSTRO accounts; transactions with persons whose country of operation or origin is on the list of higher (terrorist) risk countries; payments to high-risk countries; payments relating to risky banks; and transactions of specific customers or customer types.
6.4.7. If the payment service provider of Binaryx or affiliated person authorized to receive payments on behalf of Binaryx notes that the required information about the payer is missing or incomplete upon receiving a payment, the recipient shall refuse the transaction or request full information about the payer.
6.4.8. If a Useris regularly unable to give the requested information about the payer, Binaryx shall take measures which include giving warnings and setting time limits. Thereafter the recipient may refuse to enter into any transactions with the customer or limit or terminate the business relationships with the customer. The payment service provider of the recipient informs the FIU thereof.
7. RISK-BASED APPROACH
7.1. Binaryx shall recognize, assess and understand money laundering and terrorist financing risks in its own activities and in the activities of its Users and take measures to mitigate the risks. The applicable measures shall correspond to the identified risk level.
7.2. In the event of the risk-based approach, Binaryx shall assess the probability of the realization of risks and what the consequences of their realization are. Upon assessment of probability, the chance of an increase in the threat and the possibility of occurrence of the respective circumstances shall be taken into account, e.g. the possible threats that may influence the activities of the User and the service provider shall be taken into account.
7.3. Binaryx shall take all customer due diligence measures. The scope of taking the measures depends on the characteristics of the given business relationship or the risk level of the person or customer participating in the transaction or official act; thereby the Know-Your Customer principle shall be followed. The Money Laundering and Terrorist Financing Prevention Act provides for a few exceptions to the automatic application of certain customer due diligence measures, e.g. the amount-based reporting obligation in accordance with subsection 3 of § 49 of the Money Laundering and Terrorist Financing Prevention Act.
7.4. Upon identifying and substantiating the risk levels of Users participating in a transaction, Binaryx shall take into account, among other things, the following risk categories:
7.4.1. Customer risk whose factors arise from the person or customer participating in a transaction; among other things, the following shall be taken into account:
whether it is a politically exposed person;
whether the person is represented by a legal person;
whether a third party (individual) is the beneficial owner;
whether the identification of the beneficial owner is impeded by complex and non-transparent ownership relations;
the residency of the person, including whether it is a person registered in a territories with a low tax rate;
whether the person is subject to an international sanction;
circumstances (including suspicious transactions identified in the course of a prior business relationship) resulting from the experience of communicating with the person, its business partners, owners, representatives and any other such persons;
the duration of the operations and the nature of business relationships;
the nature of the personal activities of an individual;
whether the origin of the person’s assets or the source and origin of the funds used for a transaction can be easily identified.
7.4.2. Country or geographical risk, whose factors arise from differences in the legal environment of various countries:
7.5. Taking account of the aforementioned risk categories, Binaryx shall determine the risk level of the person or customer participating in a transaction, e.g. whether the customer’s money laundering or terrorist financing risk level is low, normal or high or whether it corresponds to other risk level qualifications determined and used by Binaryx.
7.6. To determine the impact of each risk category, Binaryx shall assess the likelihood of occurrence of risk factors in the risk category. To determine the impact of a specific risk category, the qualifying quantity of occurrence of the risk factors characterizing it may be used for the purpose of deeming a specific risk factor as „having an impact‟ or as „not having an impact‟ in the event of exceeding a certain threshold.
7.7. CATEGORIES OF CLIENTS
7.7.1. Four categories associated with the person participating in the transaction shall be taken into account upon risk assessment:
I. place of residence or seat of the person participating in the transaction – country and geographical risks shall be taken into account;
II. parameters characterising the person participating in the transaction – customer risk shall be taken into account;
III. economic activities of the person participating in the transaction – product and service risks shall be taken into account; and
IV. transaction partners of the person participating in the transaction and risks related to them – the customer risk of the transaction partners of the person participating in the transaction, the country and geographical risks and the product and service risks shall be taken into account.
7.7.2. The risk is low – There are no risk factors of impact in any risk category and the customer and the customer’s operations are transparent and do not deviate from the operations of an average, reasonable person engaged in the same field. Thereby there is no suspicion that the risk factors on the whole might cause the realisation of the threat of money laundering or terrorist financing.
7.7.3. The risk is medium – There is one risk factor or there are several risk factors in the risk category, which differ(s) from the operations of a person engaged in the same field, but the operations are still transparent. Thereby there is no suspicion that the risk factors could, on the whole, cause realisation of the threat of money laundering or terrorist financing.
7.7.3. The risk is high – There is one feature or there are several features in the risk category which, on the whole, undermine the transparency of the person and the person’s operations, as a result of which the person differs from a person operating in the same field. Thereby the realisation of the threat of money laundering or terrorist financing is at least possible.
8. THIRD PARTIES AND CONDUCTING OF CORRESPONDING RELATIONS
8.1. To perform some of its business functions, Binaryx uses third-party service providers. Binaryx shall make an effort to determine, during the initial and ongoing due diligence process, to the extent possible whether there are any initiated investigations and filed lawsuits against any such third-party service providers. Binaryx shall also determine whether a third-party provider has obtained all the necessary licenses, permits, and approvals before establishing a business relationship with such third-party service provider.
8.2. With respect to its own staff, Binaryx shall carefully review all candidates for employment and determine whether the activities of a new employee fall in the category that is susceptible to money laundering activities. In addition, Binaryx has prepared and implements a number of personnel training programs on customer identification procedures and prevention of money laundering activities.
This Binaryx Refund Policy outlines Binaryx Refund policies based on types of exchange transactions performed.
This Refund Policy concerns exclusively Transaction fees and Users’ Funds. Binaryx undertakes to make its best efforts to assist the Users in case of any disputes related to refunds/returns of purchased cryptocurrencies.
1. GENERAL CONDITIONS
1.1. The User who has made has paid for Binaryx Services, or has funded his User Account may request a Refund or Return in accordance with the eligibility criteria as further set out herein.
1.2. Refund/Return in excess of the original amount are prohibited.
1.3. Refund/Return will only be considered where the User complies with the eligibility criteria in full. Where the User fails to meet any of the eligibility criteria, Binaryx shall have the right, in its sole discretion, to decline the User’s request for a Refund/Return.
1.4. In order to apply for a Refund/Return, the User must complete a Refund/Return Form on the Site or send the respective form to the Binaryx support address – email@example.com.
1.5. To prevent prohibited conduct, all payments and information related to Refund/Return may be verified by Binaryx. In such case, Binaryx may request the User to provide certain documents, including, but not limited to, identification documents, a copy of the User’s Payment Card and Invoice or/and any other proof of the fact that the disputed payment was made. In case the User fails to provide appropriate documents or information within three (3) days upon the Binaryx request or in case of any doubts as to authenticity of the provided documents, Binaryx shall be entitled to decline the User’s Refund/Return request.
1.6. User may submit a Declaration of deposit proving User written consent additionally to other documents or information about the provided payment while funding User Account. Declaration of deposit is not obligatory for providing deposit less than 1 000,00 USD but may become a crucial point in case of all payments and information related to Refund/Return may be verified by Binaryx. Declaration of deposit of the amount equival or more than 1000,00 USD is obligatory. Submitting of Declaration of withdrawal is obligatory on any amount.
1.7. Binaryx shall process the User’s Refund Form/Return Form as soon as it is reasonably practicable. Response times will vary depending on stated reasons for the request and will not exceed 7 (seven) business days. In any case, Binaryx shall notify the User on the outcome of the request in accordance with the timescales set out herein.
1.8. The Refund/Return request will only be approved or declined after meticulous verification made by Binaryx.
1.9. Submission of Refund Form/Return Form does not guarantee that the User’s request will be satisfied.
1.10. In case a Refund/Return request is satisfied it the refund/return will me made via the same payment method to the same payment card and/or bank account and/or cryptocurrency address that were used to make the deposit.
2. TRANSACTIONS INVOLVING A CRYPTOCURRENCY
2.1. Refunds are not possible for all transactions where the User is purchasing a Cryptocurrency on Binaryx. However, in case the User changed his mind and would like to return the purchased Cryptocurrency, Binaryx may be able to buy it back based on the current market rate minus the service fee for the transaction. Because the Cryptocurrency price changes constantly, thus the value of the purchased Cryptocurrency at the moment of refund may be different.
2.2. In transactions that do not involve cryptocurrency refunds are only possible within 30 days from the moment of exchange. Any additional service fees incurred by Binaryx as a result of the refund will be covered by User. Banks, payment systems, card processing providers and banks may charge Binaryx for each incoming and outgoing transactions.
3.1. Binaryx expects the User will contact it using Binaryx support address – firstname.lastname@example.org to resolve any problem or issue related to his/her payments, before the User makes any Chargeback request. This provision does not affect any rights and/or claims, which the User may have against the bank/financial institution.
3.2. Binaryx will investigate any Chargeback requests made by the User and in response will inform the User’s Issuing Bank whether any payment has been cancelled.
3.3. Chargeback request is handled by the legal department of Binaryx. In case of any Chargeback request withdrawal and refunds requests of the User will be cancelled.
3.4. Binaryx reserves the right to suspend the User’s account and lock the User’s Funds during the chargeback investigation procedure.
4.1. Any charges, which arise upon processing Refund/Return, shall be borne solely by the User. Such charges will be deducted from the final amount of the Refund/Return.
4.2. This Refund Policy will be amended from time to time if there is any change in the legislation. Terms and conditions of the Refund Policy are subject to change by Binaryx.
4.3. In case the User does not wish to accept the revised Refund Policy, he/she should not continue to use Binaryx. If the User continues to use the Binaryx after the date on which the change comes into effect, his/her use of Binaryx is to be bound by the new Refund Policy.