1. Acceptance of termsThank you for choosing Token Binder. The following Terms and Conditions and the Privacy Policy (together, the “Terms”) apply to any person that registers for and/or opens a Token Binder Account through Token Binder.com or any associated mobile applications, website, or APIs (together, the “Token Binder Site”).
By registering for and opening a Token Binder Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of the Token Binder Site and/or your Token Binder Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. Depending on your country of residence, you may not be able to use all the functions of the Token Binder Site.
Please read these Terms carefully before using the Token Binder Site because they affect your legal rights and obligations.
2. Amendment of terms
Token Binder may amend the Terms from time to time. You should visit the Token Binder website regularly to check when the Terms were last updated (as displayed at the top of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the Token Binder Site, or sent by email to the address associated with your Token Binder Account.
The continued use of your Token Binder Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the Token Binder Site and your Token Binder Account.
3. Eligibility
By opening a Token Binder Account, you expressly warrant and represent that:
- You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the Token Binder Site;
-You will not open, or attempt to open, a Token Binder Account under any name except your own; or use your Token Binder Account to carry out transactions on behalf of a third party;
-You will follow the Token Binder Business account application process if you seek to open and use a Token Binder Account for a non-individual legal entity (e.g. a company, trust or partnership);
-You will not have more than one Token Binder Account; use or access any Token Binder Account other than your own; or assist any other person in obtaining unauthorised access to any Token Binder Account;
-You will provide security for transactions carried out through your Token Binder Account by ensuring there is sufficient Local Currency or cryptocurrency (as the case may be) in your Token Binder Account in advance of any transaction;
-You will not allow or facilitate the deposit of Local Currency into your Token Binder Account unless that deposit is made in accordance with the Deposit Requirements;
-You will not allow or facilitate the withdrawal of Local Currency from your Token Binder Wallet to a bank account held in the name of a third party;
-You will not use your Token Binder Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations, or in breach of Token Binder’s Export Controls and Sanctions requirements;
Any capitalised terms used in this Eligibility section shall have the meaning given to them in these Terms. Reference in these Terms to “Local Currency” means fiat or government issued currency (e.g. MYR).
By opening a Token Binder Account you accept and agree that Token Binder may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, the Token Binder Site or any Token Binder Account in a manner that is inconsistent with the letter or spirit of these Terms.
4. Risks
Before using the Token Binder Site, you should ensure that you understand the risks involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. This market volatility and other risks involved in buying, selling or trading cryptocurrencies are explained on the Risk Warning page of the Token Binder website.
You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading cryptocurrency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with cryptocurrency, and that Token Binder does not, and will not, offer you any financial advice in connection with your use of, or transactions you conduct on, Token Binder’s platform.
5. Electronic communications
You accept and agree that:
- any communications, agreements, notices and/or any other documents (together “Communications”) relating to your Token Binder Account or your use of Token Binder’s services will be provided to you electronically by posting them on the Token Binder Site, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically;
- you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;
- you assume full responsibility for providing Token Binder with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your Token Binder Account and accessing the Settings page.
You may at any time withdraw your consent to receiving Communications electronically by contacting [email protected]. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your Token Binder Account at risk and that Token Binder reserves the right to close your Token Binder Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.
6. Identity verificationToken Binder implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing.
To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a Token Binder Account (“Identity Verification”). The nature and extent of the Identity Verification required will depend upon which of our supported countries you are resident in, and the deposit and withdrawal limits that you wish to apply to your Token Binder Account. In certain circumstances, Token Binder may also perform enhanced due diligence (“EDD”) procedures in relation to your Token Binder Account. You accept and agree that you will remain subject to such procedures at all times.
Token Binder reserves the right to, at any time:
-restrict or suspend your Token Binder Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or
-terminate your Token Binder Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.
You accept and agree that there may be delays in accessing your Token Binder Account, or in carrying out transactions through your Token Binder Account, while we undertake any Identity Verification and/or EDD procedures.
Retention of information. Token Binder is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with Token Binder. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to Token Binder may be retained by us, including following the closure of your Token Binder Account.
7. Instant buy or sellToken Binder Wallet holders may use the Instant Buy or Sell service to buy or sell a chosen amount of Supported Cryptocurrency at the quoted exchange rate.
In using the Instant Buy or Sell service, you accept and agree that:
-when you place an order to buy or sell Supported Cryptocurrency, we will provide you with a quoted exchange rate. Token Binder is unable to, and will not, specify the percentage of the quoted exchange rate that reflects Token Binder’s facilitation of the relevant trade, as it will vary with market conditions. The quoted exchange rate may differ from rates seen elsewhere on the Token Binder site, or on external sources, and you acknowledge that the quoted exchange rate is the rate that will apply to your order;
-By proceeding with your Instant Buy or Sell transaction, you confirm that you accept the quoted exchange rate, including its components;a volume limit per transaction will apply to any Instant Buy or Sell order; and
-Token Binder does not guarantee the availability of, or that there will be no delays or interruptions in or to, the Instant Buy or Sell service.
Before confirming any Instant Buy or Sell transaction, you must ensure that the amount of Supported Cryptocurrency to be bought or sold is correct and that you agree to the quoted exchange rate. Token Binder cannot reverse an executed order.
Token Binder reserves the right to delay or refuse any Instant Buy or Sell transaction if, in our sole discretion, we perceive there to be a risk of fraud or illegal activity, or where we have reasonable grounds on which to suspect an error may have been made. Token Binder shall have no liability to you in connection with any delay in or non-completion of an Instant Buy or Sell transaction.
8. Service availability
While we will do everything we can to provide continuous operations, Token Binder does not provide any warranty in relation to the availability of the Token Binder Site or your Token Binder Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Token Binder Site or your Token Binder Account and make no representation that the Token Binder Site, Token Binder API, your Token Binder Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.
9. Financial AdviceUnder no circumstances does any information contained on the Token Binder Site, or provided to you through your Token Binder Account or by any employee, agent or affiliate of Token Binder, constitute financial, investment or other professional advice.You are solely responsible for any decision to store, buy or sell cryptocurrency, and such decision should take into account your risk tolerance and financial circumstances. For more information on the risks involved, see Risks and the Risk Warning on the Token Binder website. You should consult your legal or tax professional in relation to your specific situation.
10. Taxes
You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Token Binder Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.
11. Prohibited activitiesYou must not use your Token Binder Account to undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”):
- violation of any laws, statutes, ordinance or regulations;
- undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
- paying in to or otherwise supporting pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes or high-yield investment programmes;
- fraudulent activity, including but not limited to taking any actions that defraud Token Binder or a Token Binder customer, or the provision of any false, inaccurate, or misleading information to Token Binder;
- transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; are considered obscene; or may be stolen goods or the proceeds of crime;
- transactions involving TOR markets, online gambling sites or mixers;
- sale or purchase of narcotics or controlled substances;
- intellectual property infringement.
By opening a Token Binder Account, you confirm that you will not use your account to undertake any of the above-listed Prohibited Activities or any similar or related activity.
12. Limitation of liability
In no event shall Token Binder, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Token Binder Site and/or your Token Binder Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Token Binder, 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 unauthorised access to Token Binder’s records, programmes or services.
In no event will any liability of Token Binder, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the Token Binder Site or your Token Binder Account, exceed (in aggregate) the fees earned by Token Binder in connection with your use of your Token Binder Account in the six month period immediately preceding the event giving rise to the claim for liability.
The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction. Because some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages, some of the limitations in this section may not apply to you.
13. Indemnity
To the maximum extent permitted by law, you agree to indemnify Token Binder, its operating entities or any other affiliates (including their respective directors, members, employees and/or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the Token Binder Site and/or your Token Binder Account, or from your violation of these Terms.
14. Disputes
You and we agree to notify the other party in writing of any claim or dispute that arises in relation to the Token Binder Site, your Token Binder Account or these Terms, within 30 days of such claim or dispute arising. You and we further agree to attempt informal resolution of any Dispute prior to bringing a claim in any court or other body.
Governing law and jurisdiction. This agreement shall be governed by and construed in accordance with Singapore law, subject to any local mandatory rights you may have. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof (together, Disputes), to the non-exclusive jurisdiction of the courts of Malaysia.
Class or representative action waiver. To the maximum extent permissible by law, you and Token Binder each agree that each may bring any Dispute against the other only in your or its individual capacity, and you and it waive any right to commence or participate in any class action or other representative action or proceeding against the other. Further, where permissible by law, unless both you and Token Binder agree otherwise, no court may consolidate any other person’s claim(s) with your Dispute, and may not otherwise preside over any form of representative or class proceeding.
For the avoidance of doubt, if this Class or representative action waiver is found by any court of competent jurisdiction to be invalid, void or unenforceable, the remainder of this Disputes clause shall remain valid and enforceable.
15. Miscellaneous
Entire agreement. These Terms constitute the entire agreement and understanding between you and Token Binder with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and Token Binder (including but not limited to any prior versions of these Terms).
Severability. If any provision of these Terms, as amended from time to time, is determined to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected and everything else in these Terms will continue in full force and effect.
In the event any provision or part thereof of these Terms is determined to be illegal, invalid or unenforceable, that provision or part thereof shall be replaced by the parties with a legal, valid and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid or unenforceable provision, given the content and purpose of these Terms.
Assignment. You may not assign or transfer any of your rights or obligations under these Terms without Token Binder’s prior written approval. You give Token Binder your approval to assign or transfer these Terms in whole or in part, including but not limited to: (i) a parent company, subsidiary, affiliate, or other “group company” (“Group company” shall, in this context, refer to any entity which is under common control with Token Binder, and “control” in this context refers to the direct or indirect ability to exercise a majority of the voting rights in such an entity); (ii) an acquirer of Token Binder’s equity, business or assets; or (iii) a successor by merger.
Change of control. In the event that Token Binder is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
Force Majeure. Token Binder shall not be liable for any delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.
Survival. All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, sections relating to the suspension or termination of your Token Binder Account, use of the Token Binder Site, disputes with Token Binder and general provisions, shall survive the termination of these Terms.
Headings. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.
Token Binder may amend the Terms from time to time. You should visit the Token Binder website regularly to check when the Terms were last updated (as displayed at the top of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the Token Binder Site, or sent by email to the address associated with your Token Binder Account.
By opening a Token Binder Account, you expressly warrant and represent that:
-You will not open, or attempt to open, a Token Binder Account under any name except your own; or use your Token Binder Account to carry out transactions on behalf of a third party;
-You will not have more than one Token Binder Account; use or access any Token Binder Account other than your own; or assist any other person in obtaining unauthorised access to any Token Binder Account;
-You will not allow or facilitate the deposit of Local Currency into your Token Binder Account unless that deposit is made in accordance with the Deposit Requirements;
-You will not use your Token Binder Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations, or in breach of Token Binder’s Export Controls and Sanctions requirements;
You accept and agree that:
- you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;
You may at any time withdraw your consent to receiving Communications electronically by contacting [email protected]. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your Token Binder Account at risk and that Token Binder reserves the right to close your Token Binder Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.
-terminate your Token Binder Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.
-By proceeding with your Instant Buy or Sell transaction, you confirm that you accept the quoted exchange rate, including its components;
Before confirming any Instant Buy or Sell transaction, you must ensure that the amount of Supported Cryptocurrency to be bought or sold is correct and that you agree to the quoted exchange rate. Token Binder cannot reverse an executed order.
You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Token Binder Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.
- undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
- fraudulent activity, including but not limited to taking any actions that defraud Token Binder or a Token Binder customer, or the provision of any false, inaccurate, or misleading information to Token Binder;
- transactions involving TOR markets, online gambling sites or mixers;
- intellectual property infringement.
In no event shall Token Binder, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the Token Binder Site and/or your Token Binder Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Token Binder, 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 unauthorised access to Token Binder’s records, programmes or services.
To the maximum extent permitted by law, you agree to indemnify Token Binder, its operating entities or any other affiliates (including their respective directors, members, employees and/or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the Token Binder Site and/or your Token Binder Account, or from your violation of these Terms.
You and we agree to notify the other party in writing of any claim or dispute that arises in relation to the Token Binder Site, your Token Binder Account or these Terms, within 30 days of such claim or dispute arising. You and we further agree to attempt informal resolution of any Dispute prior to bringing a claim in any court or other body.
Entire agreement. These Terms constitute the entire agreement and understanding between you and Token Binder with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and Token Binder (including but not limited to any prior versions of these Terms).