These Terms of Services and any terms incorporated herein (the “Terms”) apply to your (“User”) use of the “Technology platform”, including https://hitbtc.com, the technology and the platform integrated therein and any applications associated therewith, which are operated and maintained by HIT Solution Limited and its subsidiaries (“HitBTC”, “We”, or “Us”). We provide you the possibility to use Our Technology Platform (“Services”) on the following terms and conditions.
1.1. “Communications” shall mean all and any communication, agreement, document, receipt, notice and disclosure, which may be from time to time addressed to User by HitBTC.
1.2. “Crypto 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.
1.3. “Deposit/Withdrawal” of crypto assets shall mean remittance of crypto assets to/from HitBTC Account from/to external third-party service accordingly.
1.4. “Feedback” is any feedback, suggestion, idea or other information or material regarding HitBTC or our Services that you provide, whether by email, posting through our Services or otherwise.
1.5. "Force Majeure Event" shall be understood as any event beyond HitBTC's reasonable control, including but not limited to the flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, suspension of bank accounts of any kind, extraordinary leaps of the course of crypto asset, communications, network or power failure, or equipment or software malfunction or any other cause beyond HitBTC's reasonable control.
1.6. “HitBTC Account” is a User account accessible after the registration process and via the Services where crypto assets may be stored and operated by HitBTC on behalf of a User.
1.7. “HitBTC IP” shall mean all and any copyright and other intellectual property rights in all content and other materials contained on the Technology Platform or provided in connection with the Services, including, without limitation, the HitBTC name, trademark, HitBTC logo and all designs, text, graphics, pictures, information, data, software, technologies, know-hows, sound and video files, other files and the selection and arrangement thereof.
1.8. "Margin Facilities" means the revolving Crypto assets credit facilities to be made available from time to time by Technology Platform to the User subject to the provisions hereunder, and the specific terms agreed between Technology Platform and the User from time to time and includes all amounts debited to the Margin Balance. The purpose of the Margin Facilities is to finance the acquisition or holding of Crypto assets.
1.9. "Margin" means Crypto assets of the User which are or shall at any time hereafter be required, as determined by the Technology Platform, to be deposited with, transferred or caused to be transferred to or held by the Technology Platform or its nominee as collateral under the Margin Balance.
1.10. "Margin Limit" means such percentage of the Market Value of the Crypto assets up to which the User is permitted to borrow (or otherwise to secure other forms of crypto accommodation) from the Technology Platform against the Margin.
1.11. "Market Value" means in respect of any particular Crypto asset at any given time, the market value which the Technology Platform determines in its absolute discretion, which could be obtained by it on a sale of such Crypto assets at such time and in such market on which Crypto assets of the same type are normally dealt.
1.12. "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 the Technology Platform.
1.13. "Third-party service" is any platform or network in which crypto assets belong to you or where you are the beneficial owner of crypto assets; and this platform is maintained by a third party outside of the Services; including, but not limited to third-party accounts.
1.14. “Trade” shall be understood as an exchange of the crypto asset of one type, owned by one HitBTC Account User, to the crypto asset of another type, owned by the same or another HitBTC account User, at the terms and conditions set forth by such exchange parties.
1.15. “Transfer” for the purposes herein shall mean a record of Deposit, Withdrawal and/or Trade transaction of crypto asset into, out from or at User’s HitBTC Account, which is technically executed by HitBTC in accordance with User’s Deposit/Withdrawal request or Trade order.
2.1. It is a pre-condition that our Services are only provided to those who are permitted to enter in legally binding relationships. Therefore, if there is any reason why you are not able to enter into legally binding relationships with Us, for whatever reason - do not use our Services.
2.2. You further represent and warrant that you:
a. are at least 18 years old or of other legal age, according to your relevant jurisdiction;
b. have not previously been suspended or removed from our Services;
c. have full power and authority to enter into this legal relationship and by doing so will not violate any other legal relationships;
d. use our Technology Platform with your own e-mail and for your own benefit and do not act on behalf and/or to the interest of any other person;
e. guarantee that your crypto assets, which you transfer to the Technology Platform are not sold, encumbered, not in contention, or under seizure, and that neither exist any rights of third parties to your crypto assets;
f. are not Politically Exposed Person (PEP) or family member or close associate of the PEP. PEPs (as well as family members or close associates of the PEPs) are not allowed to use HitBTC's Technology Platform. In case HitBTC will establish, that the User of the Technology Platform is PEP (as well as family member or close associate of the PEP), HitBTC reserves the right to terminate HitBTC Account of such User. For the purpose of this Terms, the definitions "Politically Exposed Person", "family member" and "close associate" have the meaning, as it defines in (i) the FATF Recommendations (International Standards on Combating Money Laundering and the Financing of Terrorism and Proliferation) – available via http://www.fatf-gafi.org/media/fatf/documents/recommendations/pdfs/FATF Recommendations 2012.pdf and (ii) FATF Guidance on Politically Exposed Persons (Recommendations 12 and 22) – available via http://www.fatf-gafi.org/media/fatf/documents/recommendations/Guidance-PEP-Rec12-22.pdf;
g. will not use our Services or will immediately cease using those if you are a resident or become a resident at any time of the state or region (in accordance with such state or region definition of residency), where the crypto assets transactions you are going to execute are prohibited or require special approval, permit and/or authorization of any kind, which HitBTC has not obtained in this state or region. Notwithstanding the above, you are not in any case allowed to access and use our Services if you are located, incorporated or otherwise established, or a citizen or resident of:
(i) the United States of America;
(ii) North Korea,
(iv) Crimea and Sevastopol;
(vi) Syria, or
(vii) any state, country or other jurisdiction that is embargoed by the United States of America,
(viii) a jurisdiction where the local Applicable Law prohibits or will prohibit you at any time (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the Services or the Technology Platform (hereinafter, together “The Restricted Jurisdictions”).
HitBTC reserves the right to close any of your HitBTC Accounts, to liquidate any open trade positions, and to force you to withdraw all the crypto assets from the Technology Platform in case if: (i) HitBTC determines that you are accessing the Services or the Technology Platform from any Restricted Jurisdiction, or (ii) you have given false representations as to your location of incorporation, establishment, citizenship or place of residence. 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.;
2.3. When accessing or using the Technology 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 Technology Platform. Without prejudice to the generality of the foregoing, you represent, agree and warrant, that you will not:
a. Use the Technology Platform in any manner that could interfere with, disrupt, negatively affect or inhibit other users from using our Technology Platform with full functionality, or that could damage, disable, overburden or impair the functioning of Technology Platform in any manner;
b. Use the Technology Platform to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or any other illegal activities;
c. Use any robot, spider, crawler, scraper or other automated means or interface not provided by Us to access the Technology Platform or to extract data;
d. Use or attempt to use another User account without authorization;
e. Attempt to circumvent any content filtering techniques We employ, or attempt to access any service or area of our Technology Platform that you are not authorized to access;
f. Develop any third-party applications that interact with our Technology Platform without our prior written consent;
g. Provide false, inaccurate, or misleading information;
h. Encourage or induce any third party to engage in any of the activities prohibited under this Section.
2.4. YOU INDEMNIFY AND HOLD HIT SOLUTION LIMITED 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 INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS OF THIS SECTION AND THE ENTIRE TERMS.
2.5. You confirm that You have read, fully understood and accepted the Risk Disclosure Statements set out herein.
3.1. Due to our internal policies, We only provide the Services to users with sufficient experience, knowledge and understanding of the work principles of our Technology Platform, and those who fully understand the associated risks. You acknowledge and agree that you shall access and use the Technology Platform at your own risk. The risk of loss in Trading crypto assets 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:
a. You may sustain a total loss of the crypto assets in your HitBTC Account, and, in some cases, you may incur losses beyond such crypto assets.
b. Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move") and there is insufficient liquidity in the market.
c. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders.
d. All crypto assets positions involve risk, and a "spread" position may not be less risky than an outright "long" or "short" position.
e. The use of leverage can work against you as well as for you and can lead to large losses as well as gains.
f. All of the points noted above apply to all crypto assets. This brief statement cannot, however, disclose all the risks and other aspects associated with the Trade of crypto assets and shall not be considered as any professional advice.
3.2. Risks Associated with the Internet-based Trading System. 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 HitBTC shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Technology Platform, howsoever caused.
3.3. Margin Disclosure Statement. The risk of loss in financing a transaction by deposit of collateral is significant. You may sustain losses in excess of your Crypto assets deposited as collateral with the Technology Platform. Market conditions may make it impossible to execute contingent orders, such as "stop-loss" or "stop limit" orders. You may be called upon at short notice to make additional margin deposits or interest payments. If the required Margin deposits or interest payments are not made within the prescribed time, Your collateral may be liquidated without your consent. Moreover, You will remain liable for any resulting deficit in your account and interest charged on it. You should therefore carefully consider whether such an arrangement is suitable and responds your situation and objectives.
3.4. Risks Associated with the Blockchain Protocol. The Technology 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 the Technology Platform to malfunction or function in an unexpected or unintended manner.
3.5. Risks Associated with Blockchains and Crypto Assets. You acknowledge and accept that the HitBTC 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.
3.6. No Control Over Your Own Actions. As defined in the foregoing cl. 4.3 (g) and other provisions herein YOU AGREE TO INDEMNIFY AND HOLD HITBTC 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.
4.1. We strive to protect your crypto assets from unauthorized access, use, or spending. We use a variety of physical and technical measures designed to protect our systems and your crypto assets. By remitting your crypto assets to HitBTC Account you entrust and entitle Us to ultimately take decisions on the safety and security of your crypto assets.
4.2. We reserve the right to take different measures of protection, which include, but are not limited to a diversification of crypto assets in different allocations whether on a segregate record (account) or not.
4.3. Nothing herein shall be deemed or construed as a willingness to a seizure of your crypto assets. The main purpose of this section is to notify you about different measures of protection, that We use to keep your crypto assets safe.
5.1. Consent to Electronic Delivery. You agree and consent to receive electronically all Communications, that HitBTC may be willing to communicate to you in connection with your HitBTC Account and/or use of the HitBTC Services. You agree that HitBTC may provide these Communications to you by posting them on the Technology Platform. You may contact Us through our Support Center (https://support.hitbtc.com/en/support/home) to request electronic copies of Communications.
5.2. Withdrawal of Consent. You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support. If this is a case you waive your right to plead ignorance. If you decline or withdraw consent to receive electronic Communications, HitBTC may suspend or terminate your use of the Technology Platform.
5.3. Updating Contact Information. It is your responsibility to keep your email address on file with HitBTC up to date so that HitBTC can communicate with you electronically. You understand and agree that if HitBTC sends you an electronic Communication but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, HitBTC will be deemed to have provided the Communication to you. You waive your right to plead ignorance. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add HitBTC to your email address book so that you will be able to receive the Communications We send you. If your email address becomes invalid in a such way that electronic Communications sent to you by HitBTC are returned, HitBTC may deem your account being inactive, and you may be not able to complete any transaction via the Technology Platform.
6.1. Transfer confirmation. Once your Deposit/Withdrawal request or Trade order is executed, a confirmation will be electronically made available via Technology Platform detailing the particulars of the Transfer. You acknowledge and agree that the failure of the Technology Platform to provide such confirmation shall not prejudice or invalidate the terms of such transaction.
6.2. Conditions and Restrictions. We may, at any time and in our sole discretion, refuse to perform any Transfer requested via the Technology Platform, impose limits on the Transfer amount permitted via the Technology Platform or impose any other conditions or restrictions upon your use of the Technology Platform without prior notice.
6.3. Access to the Services. We may, in our sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, any portion of our Services.
6.4. No financing obligation. You fully agree and accept, that the Technology Platform will not at any time be obliged to provide or continue to provide any Margin Facility to You.
6.5. Cancellations. You may only cancel a Transfer request initiated via the Technology Platform if such cancellation occurs before HitBTC executes the Transfer. Once your Transfer request has been executed, you may not change, withdraw or cancel your authorization for HitBTC to complete such Transfer. If a Trade order has been partially filled, you may cancel the unfilled remainder unless the order relates to a market rate Trade. We reserve the right to refuse any cancellation request associated with a market rate Trade order once you have submitted such order. While We may, at our sole discretion, reverse a Trade under certain extraordinary conditions, a customer does not have a right to a reversal of a Trade.
6.6. Insufficient Crypto Assets. If you have an insufficient amount of crypto assets in your HitBTC Account to complete a Transfer via the Technology Platform, We may cancel the entire order or may fulfill a partial order using the amount of crypto assets currently available in your HitBTC Account, less any fees owed to HitBTC in connection with our execution of the Transfers.
6.7. Taxes. It is your responsibility to determine what, if any, taxes apply to the Transfers you complete via the Technology Platform, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that HitBTC is not responsible for determining whether taxes apply to your transfers or for collecting, reporting, withholding or remitting any taxes arising from any Trades and Transfers and does not act as your tax agent.
6.8. Feedbacks. We own exclusive rights, including all intellectual property rights, to Feedback. Any Feedback you submit is non-confidential and shall become the sole property of HitBTC. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You waive any rights you may have to the Feedback (including inter alia any copyrights). Do not provide Feedback if you expect to be paid or want to continue to own or claim rights on it; your idea might be great, but We may have already had the same or a similar idea and We do not want disputes. We also have the right to disclose your identity to any third party who is claiming that any content posted by you constitutes a violation of their intellectual property rights, or of their right to privacy. We have the right to remove any posting you make on our website if, in our opinion, your post does not comply with the content standards set out therein.
7.1. In case of your breach of the Terms, or any other event as We may deem necessary, including without limitation market disruption and/or Force Majeure event We may, in our sole discretion and without liability to you, with or without prior notice:
a. suspend your access to all or a portion of our Services; or
b. prevent you from completing any actions via the Technology Platform, including closing any open Trade orders. In case the transferring resumes, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event; or
c. terminate your access to the Services, delete or deactivate your HitBTC Account and all related information and files in such account.
7.2. In the event of termination, HitBTC will return any crypto assets stored in your HitBTC Account and not owed to HitBTC, unless HitBTC believes you have committed fraud, negligence or other misconduct.
8.1. Except as expressly provided to the contrary in a writing by Us, our services are provided on an "As is" and "As available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
8.2. You acknowledge that information you store or transfer through our services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including but not limited to software failures, protocol changes by third party providers, internet outages, Force Majeure event or other disasters including third party DDOS attacks, scheduled or unscheduled maintenance, or other causes either within or outside our control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through our services.
8.3. Except as otherwise required by law, IN NO EVENT SHALL HITBTC, OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, 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 USE OF OR INABILITY TO USE OUR SERVICES OR THE HITBTC IP, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM HITBTC, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO HITBTC'S RECORDS, PROGRAMS OR SERVICES.
8.4. We resume the right, in our sole discretion, to control any action or proceeding (at our expense) to which We are a participant and determine whether We wish to settle it.
8.5. To the maximum extent permitted by applicable law, IN NO EVENT SHALL THE AGGREGATE LIABILITY OF HITBTC (INCLUDING OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES AND AGENTS), WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF, OR INABILITY TO USE, HITBTC OR TO THESE TERMS EXCEED THE FEES PAID BY YOU TO HITBTC WITHIN 3 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.
8.6. HitBTC shall not be liable for:
a. any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information;
b. any loss or damage arising from a Force Majeure Event.
8.7. We strive to protect our users from fraudulent and scam activities in crypto assets sphere. It is possible that some crypto assets are purposed for unlawful seizure of the property, or are construed as a fraud, scam or any other activity, recognized by the laws as illegal and/or non-compliant with legal requirements. We reserve the right to prohibit and discontinue any transactions on our Technology Platform with such crypto asset at our sole discretion, without any prior notice to you and without publication of the reason for such decision, whenever this comes to our knowledge. YOU INDEMNIFY AND HOLD HIT SOLUTION LIMITED 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 PROHIBITION AND DISCONTINUATION OF TRANSACTIONS IN OUR TECHNOLOGY PLATFORM WITH ANY CRYPTO ASSET.
8.8. To be able to access to our Technology Platform, the User may use without limitation different mobile devices, such as mobile internet devices, tablets/smartphones and wearable computers ("Mobile Devices"). In no way, we make any guarantee that each particular Mobile Device is compatible with our Technology Platform. YOU AGREE TO INDEMNIFY AND HOLD HITBTC 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 VIA MOBILE DEVICES, INCLUDING, BUT NOT LIMITED TO THOSE ARISING FROM YOUR INABILITY TO CONNECT TO OUR TECHNOLOGY PLATFORM FROM PARTICULAR MOBILE DEVICE AND YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS YOUR LOSS/DAMAGE/DEFECT OF SUCH MOBILE DEVICE.
8.9. The User shall not have any right or claim against the Technology Platform in respect of any loss arising out of any sale, realization, redemption, liquidation or disposal or proposed sale, realization, redemption, liquidation or disposal of the Crypto assets due to the User’s inability to maintain the Margin or meet the Margin calls, however such loss may have been caused, and whether or not a better price could or might have been obtained by either deferring or advancing the date of such sale, realization, redemption, liquidation, disposal or otherwise.
8.10. THE USER UNDERTAKES TO INDEMNIFY AND HOLD THE TECHNOLOGY PLATFORM AND ITS OFFICERS, EMPLOYEES AND AGENTS HARMLESS FOR ANY LOSS, COSTS, CLAIM, LIABILITY OR EXPENSE ARISING OUT OF OR CONNECTED WITH ANY BREACH BY THE USER OF ITS OBLIGATIONS HEREUNDER INCLUDING ANY COSTS REASONABLY AND NECESSARY INCURRED BY THE TECHNOLOGY PLATFORM.
9.1. HitBTC endeavors all possible measures to be sure that crypto assets that are available via the Technology Platform cannot be classified as "security" by any competent national authority. Moreover, HitBTC represents that it never intended or desired to make tokens and/or coins that can be classified as "security" available via Technology Platform.
9.2. The responsibility for the fact that the instrument cannot be treated as “security” lies with the owner of token and/or coin. If there is any risk or speculations that token and/or coin can be treated as “security”, the Technology Platform reserves the right to prohibit and discontinue any transactions on our Technology Platform with such tokens and/or coins at its sole discretion.
9.3. We follow the best practices to decide whether crypto asset is security or not. However, We give no warranty and/or investment, financial, legal or any other professional advice, that any crypto asset available via our Technology Platform is not a security.
10.1. You and HitBTC agree to arbitrate any dispute arising from these Terms or your use of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL.
10.2. You and HitBTC agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to HitBTC shall be sent to firstname.lastname@example.org.
10.3. Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted.
10.4. The law of this arbitration clause shall be Hong Kong law.
10.5. The seat of arbitration shall be in Hong Kong.
10.6. The number of arbitrators shall be three. The arbitration proceedings shall be conducted in English language.
10.7. Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws of Hong Kong, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction.
10.8. Whether the dispute is heard in arbitration or in court, you will not commence against HitBTC a class action, class arbitration or representative action or proceeding.
11.1. Entire Agreement. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services.
11.2. Order of Precedence. In the event of any conflict between these Terms and any other agreement you may have with HitBTC, the terms of that other agreement will prevail only if these Terms are specifically identified and declared to be overridden by such other agreement.
11.3. Amendments. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If We make changes to these Terms, We will provide you with notice of such changes, such as by sending an e-mail, providing notice on the homepage of the Site and/or by posting the amended Terms via the applicable HitBTC websites and mobile applications and updating the "Last Updated" date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for preexisting users upon the earlier of either:
a. the date User click or press a button to accept such changes or;
b. the date User continues use of our Services after HitBTC provides notice of such changes or publishes new version of the Terms on the Website.
11.4. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree to any amended Terms, you must discontinue using our Services and contact us to terminate your account.
11.5. No Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
11.6. Severability. The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
11.7. Assignment. You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from HitBTC, including by operation of law or in connection with any change of control. HitBTC may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
11.8. Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.
11.9. Interpretations. These Terms shall be written and executed in, and all other communications under or in connection with this Terms shall be in English. Any translation into any other language shall not be considered as an official version thereof and shall serve for informational purposes only. In the event of any conflict in interpretation between English text and such translation, English text shall prevail. Terms "Remittance", "Deposit", "Withdrawal", “Trade” and some others referred to herein are used in the reference to crypto assets solely and as defined in cl. 1 herein and shall not be deemed as construed for the use in regular financial meaning.
11.10. Competitions. From time to time our business partners, contractors, clients, counterparties may hold different competitions, trials, games and any other type of events available to users through our Technology Platform. By agreeing to participate in such competitions, you shall comply with the rules of each particular competition and act according to them. Unless otherwise provided by the rules of particular competition, HitBTC does not control and is not associated with any of such competition and shall have no responsibility for conducting and holding the competition. HitBTC reserves the right to publish the rules of the competition received from the holder of the competition. You understand and acknowledge that your participation in such competition, and your interactions with holder, are at your own risk. YOU INDEMNIFY AND HOLD HITBTC 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 INVALIDITY OR BREACH OF ANY OF THE WARRANTIES, REPRESENTATIONS AND COVENANTS GIVING BY THE HOLDER OF THE COMPETITION.
12.1. It is necessary to go through the registration process and create an account with HitBTC to use our Technology Platform in a right order and with its full functionality.
12.2. HitBTC reserves the right, in its sole discretion, to limit the number of HitBTC Accounts that you may hold, maintain or create. HitBTC Accounts cannot be assigned to any third party.
12.3. When you create a HitBTC Account, you undertake to:
a. create a strong password that you do not use for any other websites, online or off-line services;
c. agree to pass through AML/KYC procedures, which may be applied to You from time to time;
d. maintain and promptly update your HitBTC Account information;
e. maintain the security of your HitBTC Account by protecting your password and restricting access to your HitBTC Account;
f. promptly notify Us if you discover or otherwise suspect any security breaches related to your HitBTC Account;
g. take responsibility for all activities that occur under your HitBTC Account and accept all risks of any authorized or unauthorized access to your HitBTC Account, to the maximum extent permitted by law.
13.1. Our Technology Platform allows Users to remit crypto assets to HitBTC 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 HIT SOLUTION LIMITED 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.
13.2. Authorization to create an address. You understand and acknowledge, that an address for receiving crypto asset will be created automatically as soon as you request the Deposit transfer and before any crypto asset can be remitted to Your HitBTC Account and you fully and irrevocably authorize its creation.
13.3. Ownership verification. In case you are required to verify, that you possess crypto asset of the third-party service that you use to remit crypto asset to your HitBTC Account, you undertake to provide such verification by following HitBTC instructions.
13.4. Deposit/Withdrawal Authorization. When you request Us to Deposit/Withdraw crypto assets into or out from your HitBTC Account, you authorize HitBTC to execute such Transfer via the Technology Platform.
13.5. No control over third-party services. You may be charged fees by the third-party service you use to remit your HitBTC Account. HitBTC 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.
13.6. 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 HITBTC 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.
13.7. Delays. Subject to the terms and conditions of these Terms, 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 crypto assets depends inter alia upon the performance of third-parties services, and We make no guarantee that crypto assets will be Deposited/Withdrawn in any specific timeframe. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD HIT SOLUTION LIMITED 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.
14.1. When you submit a new Trade order via the Technology Platform, you authorize HitBTC to:
a. record a transfer of Your crypto assets from/into/on your HitBTC Account and/or,
b. where applicable, reserve Your crypto assets on your HitBTC Account in accordance with such Trade order
c. and charge you any applicable fees for such record (as described in the Terms).
14.2. You acknowledge and agree that, respective to your trading activity, Our Technology Platform:
a. is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity;
b. s not acting as a party of transferring of a particular crypto asset.
14.3. Trade rates. Each placed Trade order creates different market exchange rates. You acknowledge and agree that the rates information made available via the Technology Platform may differ from prevailing rates made available via other sources outside of the Technology Platform.
14.4. Market volatility. Particularly during periods of high volume, illiquidity, fast movement or volatility in the marketplace for any crypto assets, the actual market rate at which a market Trade transaction is executed may be different from the prevailing rate indicated via the Technology Platform at the time of your Trade transaction. You understand, that We are not liable for any such rates fluctuations.
14.5. The rates made available via the Technology 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. THEREFORE, NEITHER HITBTC, NOR, WHERE APPLICABLE, ANY OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS OR OUTSOURCED ADVISORS MAKES ANY REPRESENTATION, WARRANTY OR GUARANTEE WHATSOEVER WITH RESPECT TO THE RATES INFORMATION AND, IN PARTICULAR, AS TO THE ACCURACY OR COMPLETENESS OF THE RATES INFORMATION. YOU AGREE TO INDEMNIFY AND HOLD HITBTC 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 RATES INFORMATION AND/OR YOUR TRADING ACTIVITY VIA TECHNOLOGY PLATFORM.
15.1. When you submit a new Margin collateral via the Technology Platform, you authorize HitBTC to:
a. to increase or decrease the facility limit of the Margin Facilities without any prior notice to you;
b. extend the Margin Facility to You in excess of your Margin Limit;
c. refuse to make available to You any advance under the Margin Facility at any time even if the applicable Margin Limit has not been exceeded;
d. to cancel or terminate the Margin Facilities;
e. to demand immediate payment of all or any Crypto assets, whether principal, interest or otherwise, then owing in respect of the Margin Facilities or otherwise hereunder;
f. to draw on the Margin Facilities to settle any amount due to Technology Platform in respect of Your acquisition of Crypto assets or payment of any commission or other costs or expenses due in favor of the Technology Platform.
15.2. Margin Call. You shall maintain the Margin and on demand from the Technology Platform make payments or deposits of additional Margin in such amount and in such form and within such time limit as specified by the Technology Platform, as the Technology Platform in its absolute discretion determines necessary to provide adequate support in respect of the Margin Percentage and the Margin Facilities. Payment of Margin Calls must be effected in Crypto assets which You have good and free unencumbered titles and unless the Margin Call is fully satisfied with the time specified. We have no obligation to notify you of your failure to maintain the Margin. In the event that it is, in the sole opinion of the Technology Platform, impracticable for Us to make demands for additional Margin, the Technology Platform shall be deemed to have made Margin Calls for such form and/or amounts as We may determine and such additional Margin shall become immediately due and payable by You.
15.3. If you fail to maintain the Margin or meet Margin Calls made by Us or the Margin Financing Facilities is terminated or cancelled by Us, We may, without demand, notice, legal process or other action sell, realise, redeem, liquidate or otherwise dispose of, as appropriate, such of the Crypto assets or any part thereof at the relevant market or by private contract, and on such terms as We in our absolute discretion think fit, free from all Your trusts, claims, rights of redemption and equities.
15.4. Upon irrevocable payment in full of all sums which may be or become payable hereunder and the full performance of the Your obligations under the Margin Facility terms, the Technology Platform will at Your request and expense release to You all the rights, title and interests of the Technology Platform in the Margin collateral.
16.1. Amount of Fees. You agree to pay the fees for Transfers completed via Technology Platform ("Fees") as defined by the Fees and Limits (https://hitbtc.com/fees-and-limits), which We may change from time to time. Changes to the Fees are effective as of the effective date indicated in the posting of the revised Fees and Limits, and will apply prospectively to any Transfers that take place following the effective date of such revised Fees.
16.2. Payment of Fees. You authorize Us, or our designated payment processor, to charge or deduct your HitBTC Account crypto assets for any applicable Fees owed in connection with trades you complete via the Technology Platform.
16.3. Interest. You shall pay to the Technology Platform the interest on Your aggregate liability (whether present or future, actual or contingent, joint or several) to Technology Platform under the Margin Facilities or otherwise at any relevant time at the interest rate advised by Us to You from time to time. Such interest shall be added to and form part of your aggregate liability.
17.1. Unless otherwise indicated by Us, HitBTC IP is the proprietary property of HitBTC or our licensors or suppliers and is protected by international copyright laws and other intellectual property rights laws.
17.2. We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use the HitBTC IP for your personal or business use solely for the purposes of regular use of the Technology Platform.
17.3. Such license is subject to these Terms and does not permit:
a. any resale of the HitBTC IP;
b. the distribution, public performance or public display of any HitBTC IP;
c. modifying, adapting or otherwise making any derivative uses of the HitBTC IP, or any portion thereof; or
d. any use of the HitBTC IP other than for the intended purposes.
17.4. The license granted under this Section will automatically terminate if We suspend or terminate your access to the Services.
18.1. While using our Technology Platform, you may view Third-Party Content. We do not control, endorse or adopt (unless otherwise expressly stated by Us) any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.