Terms of Service
2) By your use of the Website and/or opening an account to use our services, you agree to comply with the terms and conditions governing your use of the Website and the services offered through the Website (the “Services”).
4) We may suspend, modify, remove or add to the Services at any time.
9) Description of the Services
10) Exchanging Digital Currency.
11) The Services allow you to exchange certain types of digital currency (collectively and individually, the “Digital Currency”) with the Website’s registered users (the “Registered Users”). The Company may amend the list of Digital Currencies at any time at its sole discretion.
12) You may start exchanging Digital Currency with Registered Users, on a per-transaction basis for other Digital Currency or for USD, EUR, or other fiat money accepted by the Company from time to time (collectively and individually, the “Fiat Money”), as long as in the Company’s sole discretion, you have successfully opened your Account and satisfied the KYC process (as described below).
13) We reserve the right to refuse to process or to cancel or reverse, any transaction in our sole discretion, even after funds have been credited to or debited from your Account.
14) Deposits. In order to initiate any transaction to exchange Digital Currency with a Registered User, you must first maintain sufficient funds with the Company, or the Custodian, by way of deposits, to cover your desired transaction. Digital Currency you deposit shall be delivered to a custodial digital wallet belonging to the Company, and such deposits shall be recorded under your Account. Fiat Money you deposit shall be deposited by you with Davinco Singapore Investment Pte.Ltd. (Registration number 201422444Z) with an address 8 Marina View, #15-08A, Asia Square Tower 1, Singapore 018960 (the “Custodian”). Once we receive confirmation from the Custodian of your deposit, such deposit shall be recorded in your Account. By making a deposit in Fiat Money you agree to be fully bound by the terms and conditions of the Custodian.
15) Withdrawals. At any point, you may make a request for a withdrawal to withdraw funds from your Account. The Company shall designate certain periods during the day at which the actual withdrawal can occur pursuant to your request and the Company’s approval. Upon approval, the Company shall deliver the applicable Digital Currency to the personal digital wallet designated by you, and you acknowledge that any delivery of Digital Currency may not be immediate or may be subject to delays. A withdrawal request for Fiat Money will be subject to the terms and conditions of the Custodian, and will either be credited to your credit card, using the details you provided, or fulfilled by way of a bank transfer to the bank account you provided. All of your withdrawals will be recorded under your Account, once we receive confirmation from the Custodian.
16) The delivery of Digital Currency may also be subject to the confirmation process inside a blockchain, and as a result, deposits or withdrawals of Digital Currency, as applicable, is not complete while such confirmation process is in a pending state.
17) The Company cannot guarantee that all credit cards will be accepted. The acceptability of each credit card depends on a variety of factors, including, but not limited to, your location, your identification information, limitations that may be imposed by your credit card company, the Custodian, and/or any third party payment processors. Likewise, the Company cannot guarantee that your bank will accept the funds. It is your responsibility to ensure that the credit card company or bank that you wish to use will accept your funds. You also acknowledge that the availability of all payment methods, including options of both bank transfer and credit card, is not guaranteed, and we may change the options at our discretion from time to time.
18) Buying and Selling Digital Currency
19) The Services allow you to buy from and sell to the Company or to other registered users certain types of Digital Currency. The Company may amend the list of Digital Currencies at any time at its sole discretion.
20) You may start selling or buying Digital Currency on the Website, on a per-transaction basis in exchange for Fiat Money, as long as in the Company’s sole discretion, you have successfully opened your Account (as defined below) and satisfied the KYC process (as described below). The Company may amend the list of Fiat Money currencies which it accepts at any time at its sole discretion.
21) We reserve the right to refuse to process or to cancel or reverse, any purchase and/or sale of Digital Currency in our sole discretion, even after funds have been debited from your account.
22) Credit Card Payments. When you buy Digital Currency from us, you will pay us Fiat Money through the credit card details you provide to us. When you sell Digital Currency to us, we will pay you Fiat Money by way of a bank transfer to the bank account you provided with the applicable amount after you send us the relevant amount of Digital Currency to the Company’s virtual wallet, as instructed and when determined by the Company at its sole discretion that it has received the relevant amount of Digital Currency.
23) The Company cannot guarantee that all credit cards will be accepted. The acceptability of each credit card depends on a variety of factors, including but not limited to, your location, your identification information, limitations that may be imposed by your credit card company and/or any third-party payment processors.
24) Delivery of Digital Currency. You acknowledge that delivery of the Digital Currency is separate from the payment process, and may not be immediately transferred. You also understand that certain factors, including but not limited to the outcome of the KYC process could prevent or delay the Company from fulfilling your purchase order or delivery of the Digital Currency.
25) The sale of Digital Currency to us may also be subject to the confirmation process inside a blockchain, and as a result, the sale of such Digital Currency to us is not complete while such confirmation process is in a pending state.
26) Instructions. You understand and agree that the exchange of Digital Currency with Registered Users, or the sale or purchase of Digital Currency from the Company, as well as any delivery of Digital Currency to you, or crediting or wiring of Fiat Money to you, will depend on the instructions and details you shall provide to the Company, and that the Company shall not be liable for any errors in the instructions or other details you provide.
27) Services’ Availability. The Company cannot and does not guarantee the availability of the Services at all times. You acknowledge that the Company reserves the right, at all times, to delay, deny, or make unavailable, at any time and at its sole discretion, any or all of the Services, any part of the Website and/or the Website in its entirety. The Company shall have no responsibility or liability whatsoever in connection with the unavailability of any Service and/or the Website, whether caused by the Company by any third party or “force majeure”. You explicitly understand that any such event may cause a delay in the execution or processing of your orders and transactions, and you irrevocably release the Company of any liability in this regard.
29) You acknowledge that once a day, for a limited time, the Services will not be available for use due to the need to perform processing and other operations necessary for the ongoing functionality of the Services.
30) Trading Fees. You further agree to pay the Company certain applicable trading fees in accordance with the terms set forth at https://emasmint (the “Trading Fees”). Such Trading Fees shall be set-off automatically from the proceeds of your applicable transaction(s) on a per-transaction basis and in the same form of currency as your proceeds of the applicable transaction(s). We also reserve the right to charge you for extraordinary costs which we may incur in connection with your Account, including but not limited to in connection with: a) actions required to maintain, restore or protect your Account and b) payment refusals, chargebacks or any other interference with any payment to us.
31) At any time, the Company has the right to impose upon you a required minimum amount of Digital Currency and/or Fiat Money that you need to maintain in your Account in order to use the Services.
32) Transactions and Orders with Registered Users. You hereby acknowledge that all orders you place to exchange Digital Currency, and all resulting transactions, represent orders placed with Registered Users and not orders to exchange Digital Currency with the Company. The Company does not assume any risk whatsoever for i) the orders placed between you and any other Registered User, or any other third party user, of the Services, and ii) the resulting transactions from such orders.
33) Registration Process – Opening an Account with Us
34) In order to use the Services, you understand that you must undergo our registration process. You may proceed with registration by opening an account with us through our Website (the “Account”).
35) During the registration process, you shall provide us with the requested information, which may include your name, ID number, birth date, e-mail address, postal address, telephone number, digital wallet address and credit card information details (“Registration Details“).
36) You further agree to promptly provide to us any additional requested information as necessary over the course of the registration process or afterwards for verification purposes or any other purpose in connection to providing you with the Services (“Additional Details“).
37) You warrant and represent to us: (i) that all Registration Details and Additional Details that you provide to us are true, accurate, and complete, and that you shall immediately update this information from time to time, to keep it up to date; and (ii) that the name on your account matches the name on the credit/debit card(s) or other payment accounts (e.g. personal virtual wallet) which you provide to us or the Custodian, as applicable.
38) We reserve the right to verify your Registration Details and/or Additional Details at any time, by requesting certain documents. If deemed necessary, we may request that the said document copies are notarized, meaning that the documents are stamped and attested by a notary public. In the event our requests for documents are not completed by you to our satisfaction, the Company may at its sole discretion terminate the Account. Should the documents fail our internal security checks – for example, if we suspect that they have been tampered with, or are in any way provided to mislead or misrepresent – we shall be under no obligation to accept such documents as valid, and we are under no obligation to provide feedback on the exact nature of our findings with regards to these documents.
39) By registering with us through the Website and opening an Account, you further represent and warrant to us the following:
a) You have reached at least the age of 18 and the legal age to enter into a binding agreement in your location;
c) You understand the significance and consequences of transactions involving digital currency and acknowledge the Risk Factors of such transactions, including the risks set forth herein:
40) THE EXCHANGE OF DIGITAL CURRENCY IS CONSIDERED A RISKY TRANSACTION WITH HIGHLY SPECULATIVE OUTCOMES. MARKETS FOR DIGITAL CURRENCY HAVE VARYING DEGREES OF LIQUIDITY. SOME ARE QUITE LIQUID WHILE OTHERS MAY BE THINNER OR ILLIQUID. THE COMPANY DOES NOT GUARANTEE ANY PROFIT FROM TRADING OR ANY OTHER ACTIVITY ASSOCIATED WITH THE SITE. IN LIGHT OF THE RISKS ABOVEMENTIONED, WHICH ARE NOT A COMPREHENSIVE LIST, YOU SHOULD CAREFULLY CONSIDER IF HOLDING DIGITAL CURRENCY IS SUITABLE FOR YOU DEPENDING ON YOUR FINANCIAL CIRCUMSTANCES.
42) Your Account and Personal Use
43) You acknowledge and represent to us the following:
a) The Account is for your own personal use;
b) You shall only open one Account with the Website;
c) You shall not assist others in obtaining unauthorized access to the Website, Services and/or to your Account;
d) You shall not access the Account of any other person with the Website;
e) You shall be fully responsible for any activities undertaken on your Account;
f) You will not reveal your Account username or password or your private digital wallet address to any person and you shall take all steps to ensure that such details are not revealed to any person.
44) The Company may, at any time, set off any amount owed by us to you – whether in Digital Currency and/or in Fiat Money – against any amount owed by you to us – whether in Digital Currency/and or in Fiat Money – and adjust your Account records to reflect any changes resulting from such set-offs.
45) Account Confidentiality. You understand that you are responsible for maintaining the confidentiality of your Account information, including username, password and other sensitive, confidential details, the safeguarding of your own Digital Currency, as well as the transactional activity posted to your Account. You understand that any compromise of your Account information may expose your Account to unauthorized access by a third party which may result in loss or theft of Digital Currency, as well as any linked accounts, such as your linked bank accounts and credit cards.
46) You are responsible for the security of your username and password as well as your digital wallet address on your own personal computer or internet access location. If this username password combination is “hacked” from your computer, due to any viruses or malware that is present on the computer that you access your Account, you understand that the Company is not liable whatsoever. You should report any possible hacking attempts or security breaches from your computer terminal immediately to the Company, but you acknowledge that the security of such information is your responsibility.
47) In the event you have any knowledge of: a) a third party gaining access to your Account, username and/or password, b) compromise of your login information, c) any breach of security related to your Account and/or d) any other unauthorized use of your Account, you must notify us immediately by sending an email, to email@example.com, and include all relevant details.
48) ‘Know Your Customer’ (“KYC”) and AML policy. As part of our KYC procedures, we will conduct a verification process to verify your identity and eligibility to participate in our Services. During this verification process, we may request certain documents from you, which may include proof of address, such as a utility bill, proof of your payment method and a copy of a government-issued identity card. We reserve the right to require certified or notarized copies at your expense. You understand that we shall be under no obligation to accept any documents as valid. Pursuant to our KYC procedure, in addition to documentation, we may also choose to verify your identity through a video and/or audio call conference (collectively, the “KYC process”).
49) Along with our KYC procedure, we have implemented certain checks to prevent money laundering (the “AML Policy”). Money laundering means the disguising of the source of proceeds derived from criminal activity so that it appears as though it came from legitimate sources of income. In order to prevent any criminals from laundering or attempting to launder criminal proceeds through our Website or Services, the Company has set forth the AML policy.
50) You acknowledge that in order to conduct the verification process and/or background checks, in accordance with our KYC procedure and AML policy, we may perform inquiries, directly or indirectly through third-party service providers to prevent fraud, suspicious activity, misidentification, money laundering or any other prohibited activity. We reserve the right to take any action we deem necessary with respect to the outcome of such inquiries.
51) In the event that you fail our internal compliance and security checks for any reason, you may be prevented from using our Services and/or accessing the Website, and we may limit or suspend your use at any time, as well as suspending any withdrawal requests. You understand that the outcome of such KYC reviews, including a decision not to approve the opening of an Account for you, is within the Company’s sole and absolute discretion, and we are under no obligation to provide feedback on the exact nature of our findings.
52) Unauthorized Use. In the event you create an Account without our approval or otherwise gain access to the Services without our permission, we reserve the right to immediately suspend or terminate, as we deem appropriate, the applicable Account, as well as suspend or terminate all pending purchase/sale offers; and we reserve the right to seek any other remedy to which the Company may be entitled to such violation and the Company may take further actions against you.