1.1. The Platform allows the User to submit Orders to buy or sell Cryptocurrencies.
1.2. User recognizes that an Order should only be submitted after careful consideration and conducting the User’s own research. User further understands and accepts the consequences of an Order’s execution. The User agrees that as soon as the Order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the Buyer's and the Seller's Orders without prior notice to the Buyer and the Seller and will be considered to have taken place at the execution date and time.
1.3. User acknowledges and agrees that he/she is responsible for properly checking and filling in all Transaction details during the Deposit or the Withdrawal of Cryptocurrencies or Fiat.
1.4. User acknowledges and agrees that if Transaction details are not specified or are incorrectly indicated within the Transaction the User may lose his/her funds.
1.5. The User acknowledges and agrees that Deposit and Withdrawal Transaction in Fiat currency may be delayed due to some bank verifications and checks. Similarly, and due to the inherent nature of the cryptocurrency networks, the User acknowledges and agrees that depositing and withdrawing Cryptocurrencies into/from their Account may take some time.
1.6. Cryptobit may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in the settlement of such Transactions. In such cases, the User is obliged to cooperate with Cryptobit in order to discover the reasons for such request.
1.7. Cryptobit also reserves the right but not an obligation at the User’s request to recover in certain situations incorrectly sent by the User Fiat Withdrawals in a case when: a) the User made a mistake in bank details; or b) the beneficiary's bank is in a high-risk area.
1.8. The User acknowledges and agrees that the attempt to recover the incorrectly sent Fiat Withdrawals incurs a non-refundable fee. 1.9. The User agrees that the Cryptobit team can start recovering Fiat incorrectly sent by the User only in instances where the User has the sufficient amount of funds on its Account to cover fiat recovery fee.
1.10. The User acknowledges and agrees that this recovery fee will be charged regardless of the recovery outcome as the Cryptobit team uses significant resources to investigate the case.
1.11. The User acknowledges and agrees that the decision to recover Fiat Withdrawals incorrectly sent by the User remains fully at the sole discretion of the Cryptobit team, as it will investigate every case and estimate whether or not it can attempt to recover these funds.
2.1. Cryptobit represents and warrants that once the orders to buy or sell Cryptocurrencies, such orders may not be cancelled or reversed. It holds all Cryptocurrencies acquired by each User in his/her Account and on the respective User's behalf.
2.2. You may request to cancel or modify an order which we have not executed. However, we cannot guarantee that we will be able to carry out your request. This will depend on the product that you are trading.
2.3. We are not required to accept every order that you make and reserve the rights to decline any order or transaction. If we have accepted your order we are not required to complete/execute every order. We provide below a non-exhaustive list of examples of situations where we may not accept an order, not execute or complete an order, or cancel an order:
(a) if we reasonably believe the security of your Cryptobit account is at risk, or if we're concerned about unauthorised or fraudulent use of your Cryptobit account. This might happen if we think someone is using your account without your permission;
(b) if you do not have enough money in your account to cover the maximum amount of loss associated with your order, plus any associated fees, charges and applicable margin;
(c) if we reasonably believe that there is an error with your order. For example, if you have placed an order that is unusually large and you have never done this before;
(d) if the order you have requested is unusual or for exaggerated volumes;
(e) there is an error with the quote that we have provided. For example, if the quote is manifestly different to the market price, prices on exchanges, prices on trading platforms, and/or if the quote is clearly loss making;
(f) there is a change in Applicable Law, which means that the order is no longer in compliance with Applicable Law, including if the underlying product of your order is otherwise impacted by sanctions, anti-money rules or any other applicable regulatory, self-regulatory or governmental authority requirements that prevents us, per our internal policies and discretion, from executing your order;
(g) an exchange requests or recommends that the order is cancelled;
(h) you breach the rules of the website;
(j) an Exceptional Event occurs.
2.4. We may, at our sole discretion, place limits on the minimum and/or maximum order sizes that we accept on our platform, as well as the number/volume of orders that we will accept from our clients or client's account
2.5. If we do not accept your order, complete/execute your order, or cancel your order, we will inform you by making that information available on our trading platform, unless there is a legal reason that we cannot provide this information to you. If we charge you a fee as part of the order, we will refund that money back into your account. If there were no fees or charges, then you will not receive a refund.
2.6. If we have executed your order, and therefore a transaction has occurred, we may take corrective actions and either modify the transaction, or void the transaction, under the scenarios listed in clause 2. above. We will inform you of errors by making information available on our trading platform, including any corrective actions we intend to take.
2.7. We will not be responsible for any losses you incur as a result of any actions or inactions taken by us in accordance with clause – "Entering into transactions – Modifying your order, cancelling your order, or us not accepting your order".
2.8. You must not give any third party (including minors) any access to and/or control of your Cryptobit account. If you elect to give another person access to and/or control of your account, you do so at your own risk and we will not be responsible for the decisions of that third party. For example, if they place trades or if they place copy trades and make a loss, we won't refund you that money. We reserve the right to cancel or reject any orders placed by any third party for security and/or legal reasons.
2.9. After clicking the “Pay” button the transaction is irrevocably deemed to be processed and executed. After clicking the “Pay” button you agree that you will not be eligible to cancel the payment or request to cancel it. By placing the order on the Site, you confirm and state that you do not violate the legislation of any country. Also, by accepting this Agreement (and Terms of Use), you, as the cardholder, confirm that you are entitled to use Services offered via the Site.
2.10. By agreeing to use the Site’s services, you understand and accept that processing of any of your payments is executed by the payment service provider, and there is no statutory right of revocation of already purchased goods and/or services or any other opportunities to cancel the payment.