TERMS OF SERVICE

Effective date: 24/06/2022

Crypocto is an online service that enables users to exchange virtual assets and fiat money in a fast and secure way using a wide range of exchange tools and options.

Exchange services agreement
1. This user Agreement (hereinafter referred to as the Agreement) describes the terms and conditions of the Crypocto virtual asset exchange service. The Agreement is an official written public offer addressed to individuals (hereinafter referred to as Users) for concluding an Agreement on the provision of Crypocto exchange services under the terms and conditions set forth below. The service is provided by the company GIANTEX TECHNOLOGIES s.zo.o. (business registration number (REGON) 525878510), registered under the laws of Poland with its official address at street HOZA, No.86, Apt./Room 210, municipality WARSAW, post code 00-682, post office WARSAW, country POLAND.
2. Before using the services of the Crypocto service, the User is obliged to familiarize themselves with the terms of this Agreement in full. The use of the services of the Crypocto service is possible only if the User accepts all the terms of the Agreement.
3. The current version of the Agreement is located for public access on the Internet site https:// and can be changed by the service management unilaterally without additional notice to the User.
Terms and definitions used in the Agreement
1. User is any individual and/or legal entity who wishes to use the services of the Crypocto service and accepts the terms of this Agreement.
2. Crypocto service is an Internet platform / system for the provision of services for the exchange of cryptocurrency and fiat assets, which supports crypto-crypto, crypto-fiat, fiat-crypto exchange options. It is provided via the website https:// .
3. A virtual asset is a digital expression of the value that can be digitally traded or transferred, and that can be used for payment or investment purposes.
4. Cryptocurrency is a type of digital asset based on a distributed registry, which is a means of exchange, settlement, or has other special features.
5. Fiat money is a state-regulated type of means of payment available in physical form (for example, USD, EUR, GBP, UAH, KZT).
6. Payment is the transfer of virtual assets or fiat currencies from the payer to the recipient.
7. Payment system is a software product created by a third party, which is a mechanism for implementing accounting for monetary and/or other obligations, paying for goods and services on the Internet, as well as organizing mutual settlements between users.
8. Payment system client is a person who has entered into an agreement with the relevant payment system for the acquisition of property rights of claim to it, measured in conventional units adopted in the relevant payment system.
9. Source currency is a virtual asset or fiat money that the User wishes to exchange.
10. Source account is a wallet number or any other designation of the User's Account in the Payment System from which the Source Currency was sent.
11. Order is the information submitted by the User for the use of the Crypocto service in digital form and indicating that the User accepts the terms of this Agreement.
12. Resulting currency is a virtual asset or fiat currency that the User receives as a result of the exchange of the Source Currency.
13. Resulting Account is a wallet number or any other designation of the User's Account in the Payment System to which the Resulting Currency will be sent.
14. Currency exchange is the exchange of one virtual asset or fiat currency for another fiat currency or virtual asset.
15. Rate is the value ratio of two cryptocurrencies or fiat currencies used in the exchange.
16. Card verification is a verification that the card (or Account) belongs to its owner. The conditions for verification of ownership are established by the Service. The verification is performed at a time for each new Account (card) of the client. According to the rules of the Service, the number (№) of the card must correspond to the cardholder's full name indicated in the order.
17. Fraud is deception with the aim of pursuing personal interests and damaging the interests of Users and/or the Crypocto service.
18. Scam is a way of deception and fraud to get money from Internet users. It may involve withholding information or providing incorrect or false information to extort victims' money or other property.
19. Money laundering is a financial transaction scheme that aims to conceal the identity, source, and destination of illegally obtained money or finance illegal activities.
20. Anti-Money Laundering (AML) is a set of measures and procedures aimed at detecting and/or preventing the use of the Crypocto service/website and/or services provided by Crypocto for the purpose of money laundering.
21. Counter-terrorist financing (CTF) is a set of measures and procedures aimed at identifying and/or preventing the use of the Crypocto service/website and/or services provided by Crypocto to finance terrorism.
22. Know Your Client (KYC) is a set of measures and procedures aimed at obtaining information about the client and their activities to manage the Service's risks.
23. Sanctions are commercial and financial sanctions applied by one or more countries against targeted self-governing states, groups, or individuals.
24. Policies are Policies and regulations that govern the provision of products/services/services, including, but not limited to Client Risk Management, Money Laundering and Terrorist Financing Policies, Sanctions, and Countries (AML/CTF & KYC & SANCTIONS & COUNTRY POLICY, Privacy policy, etc.).
Introduction
1. This Agreement governs the relationship between the User and the Service regarding the services provided by the Service to the User, and ensures an agreement between the Service and the User on this subject.
2. The Service ensures the confidentiality of information about the User and their operations. The Service can provide this information only at the request of authorized state bodies, officials, or representatives of Payment Systems, if there are legal grounds for this.
3. This Agreement does not cancel the current legislation of the countries of registration and location of the Service and the User, as well as the contractual relationship between the User and the Payment System (systems). If, under the terms of the current legislation or other agreements, the User cannot use the services of the Service, then the use of these services by the User is prohibited by these rules, will be recognized as illegal and may result in the blocking of funds. In case of violation of this clause, the service reserves the right to block the User's account.
4. The User uses the services of the Service and pays for them in accordance with the terms of this Agreement.
Subject of the agreement
1. The subject of this Agreement is services for the exchange of virtual assets and fiat currencies through p2p payments between individuals.
2. Payment systems and/or financial institutions are solely responsible for the funds entrusted to them by the User. The Service cannot be a party to an agreement between the Payment System and/or a financial institution and the User and is in no way responsible for the incorrect or unauthorized use of the Payment System by the User, as well as for the abuse by the User of the functionality of the Payment System. Mutual rights and obligations of the User and the Payment System and/or financial institution are regulated by additional agreements.
3. The Service offers its services to all Users and does not supervise the User's operations in any of the Payment systems.
4. The Service has the right to suspend or cancel the ongoing operation if the User violates the terms of this Agreement, as well as to refuse further service to the User without explaining the reason for this decision.
5. The Service has the right to suspend or cancel the operation in progress if the authorized services receive information about the incompetence of the User to own virtual assets and/or fiat funds and/or other information that makes it impossible for the Service to provide services to the User. Also, the Service may require additional identification of the User in this case.
6. The Service has the right to cancel the ongoing operation and return the virtual assets and/or fiat funds deposited by the User without explanation. The Service also has the right to block user funds if there were problems with the User's previous transactions or if law enforcement agencies appealed them.
7. Any completed transaction, including the purchase, sale, and exchange of electronic currency offered by the Service to the User, is considered final and cannot be canceled by the User after receiving the relevant funds denominated in electronic or fiat currency in accordance with the pre-agreed terms of the transaction.
8. The Service undertakes to take all possible and available actions to prevent attempts of illegal trade, financial fraud, and money laundering using the services of the Service. These actions include, among other things, the provision of all possible assistance to law enforcement agencies in the search and capture of financial terrorists engaged in illegal money laundering activities.
9. The Service does not serve individuals residing in disputed/annexed/temporarily annexed territories. These territories include Kosovo, the PMR, South Ossetia, Abkhazia, Taiwan, the Kuril Islands, the Nagorno-Karabakh Republic, Crimea, the DPR, and the LPR.
10. The service reserves the right to refuse service and exchange with fiat currencies to users who are citizens of Russia and Belarus, due to the requirements of the international financial regulator.
11. The user undertakes to:
  1. exclude in their practical activities using the Service any actions, the implementation of which may cause direct or indirect harm to the fight against laundering and legalization of illegally obtained funds;
  2. exclude any possible complicity in illegal trade and any other illegal operations using the services of the Service;
  3. exclude any possible complicity in financial fraud, to not use the Service to create and distribute pyramid schemes, as well as to perform other actions that are contrary to the law and legal norms;
  4. independently calculate and pay all taxes required in accordance with the tax legislation of the User's location.
Crypocto services and the procedure for their provision
1. Ordering the services of the Crypocto service is carried out by the User by sending an Order through the website of the Service.
2. By filling out the Order, the User instructs, and the Service, on its own behalf and at the expense of the User, performs actions to exchange Electronic Currency or fiat funds of one Payment System for Electronic Currency or fiat funds of another Payment System selected by the User.
3. The User undertakes to transfer the virtual asset or fiat currency in the amount specified in the Order, and the Service, after receiving the corresponding virtual asset or fiat currency, undertakes to transfer to the User the virtual assets or fiat currency corresponding to the Order within 24 hours, calculated according to exchange rate and in accordance with the tariffs of the Service.
4. The amount of the Service commission is displayed when placing an Order and is confirmed by the User by clicking the "Exchange" button.
5. The Crypocto exchange service executes Orders on an irrevocable basis in accordance with the terms and conditions of the relevant payment systems.
6. The obligation of the Service to transfer virtual assets or fiat currency to the User is considered fulfilled at the moment the cryptocurrency or fiat currency in the relevant Payment System is debited from the account of the Service, which is recorded in the transaction history of the relevant Payment System.
7. The Crypocto service has the right to set financial and quantitative limits on Operations. Information about the limits is indicated on the website of the Service.
8. If the User fails to send electronic or fiat currency from the Service within 30 (thirty) minutes from the moment of making the Order, the Service has the right to cancel such an Order. Cryptocurrency or fiat money received after the above period shall be returned to the payer's details. The Service reserves the right to refuse a refund in case of violation of the rules and unforeseen circumstances. When making a return, all commission expenses for the transfer are made from the funds received at the User's expense.
9. If the User sends virtual assets or fiat currency to the Service in an amount different from that specified in the Order, the User's Order is recalculated after a written request to the support service.
10. In case of sending virtual assets or fiat currency less than the amount of the minimum deposit specified when creating the Order, such funds cannot be credited by the payment system and are not refundable. This is due to the fact that the costs of processing such a transfer will be higher than the amount of the transfer itself.
11. If the Service fails to fulfill the conditions for sending virtual assets or fiat funds to the details specified by the User in the Order within 24 hours, the User has the right to demand the return of the virtual asset or funds in full by contacting the Service support service, except as specified in this Agreement. The request for the return of electronic or fiat funds can be executed by the Service only if, at the time of receipt of such a request, the monetary equivalent was not sent to the details specified by the User. An increase in the term for transferring electronic or fiat funds may be caused by the conditions for processing orders by specific Payment Systems. In this case, the Service is not responsible, and no refund is made.
12. In the event of a delay in the transfer of funds to the details specified by the User due to the fault of the settlement system, the Service is not liable for damage resulting from the long receipt of funds. In this situation, the User must agree that all claims will be made against the settlement system, and the Service provides its assistance to the best of its ability within the law.
13. The rate of a virtual asset or fiat currency is fixed by the Service for no more than 30 (thirty) minutes from the moment the Order is created. In the event that funds are received from the User later than 30 (thirty) minutes from the moment the Order was created, the exchange rate is recalculated at the time the Service receives the funds.
14. The Crypocto service has the right to recalculate the exchange rate fixed in the Order in the following cases:
  1. long receipt of funds from the User due to a delay in a third-party service;
  2. if the User indicated an insufficient commission when sending a transaction to the network, which led to a long delay in receiving funds to the Service account.
15. The payout time for fiat/LTC/TRC networks is approximately 30 (thirty) minutes. BTC/ETH payout speed depends on the network load.
16. If the exchange is carried out from a VISA/MC card to any other direction, then during the first exchange from this card, the User must confirm the fact of possession of a virtual or physical card. Card verification occurs by providing a photo of the card against the background of the exchange order page or a video screen capture where the exchange order will be visible and then the online banking menu displaying the number of the current card.
17. The Service is not a tax agent for the User and will not notify the User of their tax costs. The User undertakes to independently pay all taxes in accordance with the legislation of his tax residency.
Cost of services
1. The cost of the Service's services is set by the Service's management and published on the Service's website.
2. The Service has the right to independently change the exchange rates of cryptocurrencies and fees charged at any time unilaterally, of which it notifies the Users of the Service by preliminary posting information about these changes on the website of the Service.
3. The Order created by the User on the Service website indicates the exchange rate and the amount of the commission charged by the relevant Payment System for the operation.
4. The Crypocto service charges the value of its remuneration at the time of the relevant Transaction. The Service Fee is deducted from the amount of the Resulting Currency.
Responsibility of the parties
1. The Service is liable to the User in an amount not exceeding the amount of money or cryptocurrency entrusted by the User.
2. The Crypocto Service is not responsible for malfunctions, errors, and failures in the operation of software and/or hardware that ensure the functioning of the Crypocto Service services that arose for reasons beyond the control of the Crypocto Service, as well as the User's losses associated with this.
3. The Crypocto Service is not responsible for the User's losses resulting from the illegal actions of third parties.
4. The User is responsible for the accuracy of the information specified by them when filling out the Order. If the User has not specified or incorrectly specified the data, the Crypocto Service is not responsible for the User's losses incurred as a result of an error made by the User.
5. The Service is not responsible for the User making an erroneous transfer of digital assets to wallets at the disposal of the Service. In the event of an erroneous transfer of Digital Currencies to wallets at the disposal of the Service, the latter does not provide for the return of assets transferred by mistake.
6. Information on the Operation is stored in the database of the Service and is the primary source that the Parties to the agreement are guided by in disputable situations.
7. The Service will make every effort but does not guarantee that its services will be available around the clock and daily. The Service does not bear any responsibility for losses, lost profits, and other costs of the User resulting from the impossibility of obtaining access to the site and services of the Service.
8. The Service is not responsible for losses, lost profits, and other costs of the User resulting from delays, errors, or failures in bank payments or transfers of virtual assets.
9. The User undertakes to act according to the goals of the bonus and affiliate programs of the Service and related services and not to take actions that may be considered abuse of these programs.
10. The Service prohibits exchanges involving accounts of third persons. Users can only conduct transactions with wallets and accounts to which they have full access.
Refunds
The refund is a time-consuming operation for the technical support service. In some cases, making a return requires contacting the technical support of exchanges and other services, which entails significant time losses. The commission charged for the return of funds is aimed at minimizing the costs of individual service to the User.
1. The refund can only be made for an amount not exceeding the amount of the asset sent by the User to the Service's accounts for exchange.
2. The refund can only be made to the User's account specified in the order or from which the Service received the assets.
  1. If the sending of assets cannot be made to the recipient's account from which the Service received the assets, it is possible to return assets to an alternative account specified by the User through an official request from the email specified when creating the exchange.
3. The service commission for the refund is deducted from the amount of the asset returned to the User and is specified in clause 1.9. these rules. Commissions charged by payment systems for sending funds are deducted from the amount of assets returned to the User.
4. The Service undertakes to return the assets sent by the User to the accounts of the Service only if the exchange did not occur and the User did not receive the assets from the Service to their accounts.
5. Any actions of the Service for the return of assets begin after the User contacts the Service's technical support. Without the User's request, the Service is inactive concerning the return.
6. Commissions of payment systems when returning funds to the User are not reimbursed.
7. The Service charges a commission specified in clause 8.9. of these rules for a refund.
8. The Service charges the commission specified in clause 8.9. for the return if it is impossible to complete the exchange for reasons beyond the control of the Service, in particular, when:
  1. The Service is not able to complete the exchange because of a blocked or limited account of the User.
  2. The Service cannot complete the exchange according to an order made by the User because of the violation of these rules.
  3. The User paid for the order with errors in the details for payment.
  4. The User overpaid the order, and, at the request of the User, a refund is made in the equivalent of the amount of the overpayment.
  5. The wallet address from which the User made the payment or which the User indicated for the crediting of funds on the order is blacklisted by the platform.
  6. The User paid for the order in an amount less than the minimum allowable on the Crypocto platform.
  7. The User created two or more orders but paid twice to the payment details of one order. In this case, the Service system automatically recognizes the second payment as an overpayment. The refund policies described in clause 8.8.4 apply to such an order.
  8. The User paid for the order after the expiration of the time for payment or after the cancellation of the order. A deposit received after the time for payment has expired or after the order has been canceled will be treated as a deposit for another exchange. In this case, no refund will be made.
  9. The User made an erroneous transfer of digital assets to wallets at the disposal of the Service. The latter does not return the assets transferred by mistake.
    At the same time, such cases can be taken by the Service for consideration after the User, who has made an erroneous transfer, has contacted the service support service. The appeal must be sent to the official email of the Service, namely [email protected] .
  10. The User's deposit has been identified as high-risk and does not comply with the Service's AML policies.
  11. A refund is made at the User's request (order cancellation).
9. For the return of any type of asset, the Service withholds a commission – 5% of the amount of the order, provided that the refund amount is more than 20 USD equivalent. Refunds of amounts less than 20 USD in equivalent are not made.
10. If the refund is made due to the impossibility of payment on the order to the User due to the Service's fault (technical problems), the refund is made without deducting the commission specified in clause 8.9.
11. If the User initiates a refund due to a change in the type of rate fixing, the refund is made from the amount of assets returned to the User minus the commission charged by payment systems for sending funds.
AML/KYC
Crypocto's Anti-Money Laundering and Know Your Customer (AML/KYC) policy is designed to prevent and mitigate possible risks of engaging Crypocto in any type of illegal activity.
Both international and local regulations require the Crypocto service to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug, and human trafficking, the proliferation of weapons of mass destruction, corruption, and bribery and to take action in case of any suspicious form of activity of their users.
1. We strive to protect our Users from fraudulent activities in the field of crypto assets. Certain crypto assets can be used for fraud or any other criminal activity defined by law. To prevent this, steps must be taken to ensure customer verification and the security of financial transactions. One of the best measures is the AML/KYC procedure, which allows us to confirm that the User is a law-abiding individual or legal entity.
2. Crypocto has a risk-scoring system that can detect suspicious activity. If the transaction is flagged by the system, it is put on hold, and the User is requested to undergo AML & KYC verification. For security reasons, we cannot disclose the specific criteria of our system; however, it is very effective against money launderers, scammers, etc.
3. Crypocto reserves the right to apply the AML/KYC procedure to certain users, addresses, and specific transactions with crypto assets. The application of the AML/KYC procedure is based on the internal policy of Crypocto and is aimed at preventing and reducing the possible risks of Crypocto being involved in money laundering processes, as well as in any other illegal activity.
4. We inform our users that Crypocto reserves the right to appoint a third-party service provider to perform the AML/KYC procedure on behalf of Crypocto. When processing user information, such service provider fully complies with our Privacy Policy regarding our users' personal information.
5. Crypocto may forward the information collected during the AML/KYC procedure to the competent authorities upon legitimate request.
6. Crypocto will not do business with a person or entity suspected of or directly involved in money laundering or whose source of funds is related to illegal activities.
7. The AML/KYC procedure can be applied to those crypto assets that are identified as suspicious by our automatic risk prevention system. In this case, Crypocto will contact the User via the email specified when creating the exchange request.
8. The AML/KYC procedure involves verifying the User's identity through a high-quality photo of their ID valid in their country or any other applicable documentation.
9. In response to Crypocto's request for user documentation, Crypocto takes all reasonable steps to recognize false documentation and reserves the right to investigate certain users or transactions found to be risky or suspicious.
10. After the successful completion of the AML/KYC procedure for high-risk assets, these assets will be returned minus the commission specified in clause 8.9. of this User Agreement.
11. After that, Crypocto will block the account of the User who made the deposit of high-risk assets and blacklist the wallet address from which the deposit of high-risk assets was made.
Force majeure
1. Neither the User nor the Service shall be liable to each other for delays or failure to fulfill their obligations resulting from the occurrence of force majeure circumstances, including natural disasters, fire, flood, terrorist acts, wars, military conflicts, change of power, civil unrest, and also not functioning of Payment Systems, power supply systems, communication networks, and Internet service providers.
Other provisions
1. The Crypocto Service has the right to unilaterally amend the Agreements by publishing the changes on the System Website. Changes come into force from the moment of publication unless another date for the entry into force of changes is additionally determined when they are published.
2. The Crypocto Service has the right to refuse the User to complete the order without explaining the reasons for the refusal.
3. The Service is not responsible for the exchange operations performed by third parties with the User's consent.
4. The Parties have concluded this Agreement electronically and recognize it as equivalent in legal force to an agreement concluded in writing.
5. The Crypocto service has the right, in case of suspicious actions in the process of creating an order by the User, to suspend the execution of such operations until the reasons for these actions are clarified in order to avoid damage from hacker attacks.
6. The Crypocto Service has the right to send the User information about the exchange process status to the specified email, as this is an integral part of the successful completion of the exchange.
7. All disputes and disagreements that have arisen or those that may arise from this Agreement shall be resolved through negotiations on the basis of a written application by the User to the Service support service. If the dispute that has arisen is not resolved in the complaint procedure within 60 (sixty) days, either Party has the right to apply for the resolution of the dispute to the court at the User's location.