Terms Of Use
IMPORTANT NOTE:
If you are a user of Bitcipher Services who has not been offered Bitcipher Services on CoinSwitch Platform provided by Bitkuber Investments Private Limited or you have not been offered any other TPSP Service on the CoinSwitch Platform – then you are governed by the terms of service, privacy policy, trading policy, and KYC AML Policy of Bitcipher Labs LLP as hyperlinked in this paragraph. Otherwise the following Terms of Use and the privacy policy, trading policy, and KYC-AML policy hyperlinked in the below terms of use shall apply to you.
These Terms of Use (“Terms/Terms of Use”) govern the access and use of the Bitcipher Services (as defined in these Terms) offered by Bitcipher Labs LLP, a limited liability partnership incorporated under the Limited Liability Partnership Act, 2008. (LLPIN: AAM-0533)
By clicking “I agree” to these Terms of Use, or by accessing or using the Bitcipher Services, You agree that You have read, understood and accepted all of the terms and conditions contained in this Terms of Use, Our privacy policy available at [https://coinswitch.co/bc/privacy-policy] (“Privacy Policy“), Our trading policy available at [https://coinswitch.co/bc/trading-policy] (“Trading Policy“) and Know-Your-Customer (“KYC“) and Anti-Money Laundering (“AML“) policy available at [https://coinswitch.co/bc/aml-policy] (KYC-AML Policy). If, now or at any time, You do not accept or agree with any of the Terms or any of the aforesaid terms, You shall not avail the Bitcipher Services and We may immediately discontinue Your availing of the Bitcipher Services.
If You have previously registered on the ‘CoinSwitch’ platform provided by Bitcipher Labs LLP (prior to the effective date of these Terms of Use, Your continued usage of the said platform, after the effective date of these Terms of Use, shall deem that You accept and agree to Your usage and access to the Bitcipher Services, being subject to Our Terms, Privacy Policy, Trading Policy, and KYC – AML Policy.
We reserve the right to change, add, remove or modify the Bitcipher Services, these Terms, Privacy Policy, KYC-AML Policy, Trading Policy or any content or part thereof, at any time, with or without prior notice, in Our sole discretion. You shall regularly and periodically check these Terms, Privacy Policy, Trading Policy and KYC-AML Policy and other applicable policies, including before You register with Us or use Bitcipher Services (including making any Crypto related transaction through Us). We shall have no liability or responsibility whatsoever due to any such changes, additions, removals or modifications. Your use of the Bitcipher Services following the changes, additions, removals or modifications means that You accept and agree to the changes, additions, removals or modifications. If You do not agree with any such change, additions, removals or modificationsYour sole and exclusive remedy is to not view, use or access the Bitcipher Services. Your decision to avail the Bitcipher Services following the changes will mean that You accept and agree to the changes, additions, removals or modifications.
“Specified Disclaimer: Crypto products are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”
In the event that applicable laws were to change or any new law were to come into force (including by way of a judicial or executive order) and render dealing, trading, holding and/or storing Cryptos (including purchase or sale of Crypto via Indian fiat currency) to be prohibited, invalid or illegal in India, these Terms shall stand automatically terminated with effect from the date of such invalidity / illegality without further notice or recourse available to the User. You represent and declare that You have full knowledge and disclosure of the current Government and regulatory status with respect to Cryptos in India and the risk involved in dealing with, or trading in, or storing the same. By availing the Bitcipher Services, You are deemed to have understood, agreed to and accepted the risks, losses, and costs with respect to the same including but not limited to total / complete loss / seizure of Your Cryptos accounted for in the Crypto Custody Wallet (as defined in the Trading Policy) and/or Your fiat balances.
Certain definitions: As used herein:
“Bitcipher Services” shall have the meaning ascribed to it in Clause 1.1.
“CoinSwitch Platform” refers to the website and mobile application “CoinSwitch” owned by Bitkuber Investments Pvt. Ltd.
“CoinSwitch Platform Provider” means the entity owning and providing the CoinSwitch Platform.
“Cryptos”, a variant or category of virtual digital asset, refers to a cryptographically secured digital representation of value or contractual rights that uses distributed ledger technology and can be transferred, stored or traded electronically while availing the Bitcipher Services, including but not limited to Bitcoin and Ether.
“LLP”, “Ourselves”, “Us”, “Our” and “We” refers to Bitcipher Labs LLP which expression shall include its successors and assigns.
“Party” refers to either You or Us and “Parties” refers to You and Us collectively, as the context may require.
“User”, “You” and “Your” refers to any person who avails the Bitcipher Services, which expression shall include Your receivers, liquidators, successors and legal heirs.
1. About the Bitcipher Services, and certain related terms:
1.1 The Bitcipher Services means the following services provided by the LLP as described below, subject to such changes as may be made by the LLP in its sole discretion:
(i) enabling the Users with the functionality of online trading of Crypto by way of placing sale and/or purchase orders, which the LLP executes on third party Crypto exchanges upon instructions of the Users;
(ii) online storage of Crypto transacted by the Users through third party Crypto exchanges as provided above; and
(iii) providing an electronic platform containing information and functionality in relation to the above.
Certain elements of the above Bitcipher Services may be different for the services provided under the trade name “CoinSwitch Pro”.
1.2 For the avoidance of doubt:
The LLP provides the Bitcipher Services to the Users as under:
1.2.1 by aggregating the last traded price of Crypto on various third-party crypto exchanges and thereby, executing transactions for buying / selling Cryptos for and on the specific instructions (which are essentially electronic in nature) of its Users through such third-party Crypto exchanges. In other words, the LLP is an aggregator of various third-party Crypto exchanges and functions on the instructions (which are essentially electronic in nature) of its Users and may also provide ‘Assured Quantity Service’ (as described in the Trading Policy). The actual buy / sell orders of of Cryptos are placed by the LLP on third party Crypto exchanges on specific instructions (which are essentially electronic in nature) from the User and the LLP executes the buy / sell orders instructions of its Users on such third party Crypto exchanges;
1.2.2 by acting as a duly appointed payment collection agent, as provided under Our Trading Policy, of the Users for the limited purpose of facilitating payment for Cryptos transacted on third party Crypto exchanges and to hold Users’ Indian Rupees balance in their User’s Bitcipher Account in trust in furtherance thereof; and
1.2.3 by electronically storing and keeping in custody and in trust, the Cryptos purchased by the Users. Such storage / custody is currently provided through third party Crypto custody providers and / or third-party Crypto exchanges as referred above.
1.3 You can also generally browse various information or content about Crypto on the electronic platform as part of the Bitcipher Services offered by the LLP even without creating a User’s Bitcipher Account or instructing Us to place any buy or sell orders while availing Bitcipher Services. As an unregistered User, We will still be capturing, storing, processing and sharing Your usage and other data as per Our Privacy Policy.
1.4 The LLP is neither the creator nor the administrator of any Crypto. The LLP acts as an intermediary between the User and various third-party Crypto exchanges. The LLP may, acting on the specific instructions of the User, execute orders on third-party Crypto exchange platforms. You hereby authorize the LLP to act on Your instructions (which are essentially electronic in nature) to undertake various trades and hold the Crypto and Indian Rupees balance in User’s Bitcipher Account in trust for the User. For the avoidance of doubt, the User’s Crypto balance and Indian Rupees balance with the LLP are owned by the respective User and not by the LLP, and that the LLP can use the User’s Crypto balance and Indian Rupees balance in accordance to these Terms of Use, Trading Policy, KYC-AML Policy, and other policies and terms as may be applicable from time to time.
1.5 The LLP only acts as a service provider and information intermediary of User transactions on third party Crypto exchanges. In case of any technical or manual error including but not limited to downtime and/or unavailability of the Bitcipher Services, the LLP will take reasonable steps of correction to restore the Bitcipher Services. If such correction creates a liability on You or You suffer any losses or damages, You will be required to incur that liability, loss or damages. The LLP hereby disclaims liability for any such error or correction thereof, and no recourse may be had by User against the LLP for any such error or correction.
1.6 Save and except as required under any applicable law or Force Majeure (as defined and more specifically described in these Terms), as long as You agree to and comply with these Terms of Use, the LLP grants to You a limited personal, non-exclusive, non-transferable, non-sub-licensable, revocable right to access and use the Bitcipher Services in India as per these Terms. The LLP may deploy technologies or processes to monitor and enforce the above grant of rights. We may from time-to-time, with or without any notice to You, enable the entire Bitcipher Services or any one or more feature of such Services to be used outside of India (We may refrain from offering the Bitcipher Services in one or more countries / jurisdiction to comply with certain legal or contractual requirements, or in Our sole and absolute discretion) on a temporary or transient basis, and may decide to suspend, disable or cease such enablement at any point of time, at Our sole and absolute discretion, with or without informing You.
1.7 Unless otherwise specified, all prices of Cryptos and content related to the Bitcipher Services (“Materials”) made available by Us on the Bitcipher Services electronic platform are the property of the LLP or its licensors and are protected by patents, copyright, trademark, and other applicable laws. You may view such Materials on any single computer or electronic device solely for Your own internal use, provided You keep intact all copyright and other proprietary information. The trademarks, service marks, and logos of the LLP or its licensors and others used for offering the Bitcipher Services (“Trademarks”) are the property of the LLP and its respective licensors/ third parties. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used to provide the Bitcipher Services belong to or are licensed to the LLP. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other website, mobile application or networked computer environment for any other purpose or other commercial / non-commercial reasons is strictly prohibited, and any such unauthorized use may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties. The Bitcipher Services in no way confers any right on the User (express or implied) that would allow the User to use or display a trademark that such User does not own, regardless of whether the trademark is currently registered or not.
1.8 The Bitcipher Services may include links or other forms of reference to other websites, mobile applications, electronic assets or third party platforms including certain references to or content of third party Crypto platforms or resources (“External Platforms”) over which We have no control. You acknowledge that the LLP may provide such links or references of External Platforms or resources to You, only as a convenience to You and that the LLP makes no representations whatsoever about any External Platforms which You may access or use through or via the Bitcipher Services, including such External Platforms being free of such items as viruses, worms, trojan horses, and other items of a destructive nature. The LLP is not responsible for the availability of, and content provided on any External Platforms. You are requested to review the terms of use and policies posted by such External Platforms regarding privacy and other topics before use. The LLP is not responsible for third party content made accessible by the LLP, including information, opinions, advice, statements, prices, activities, and advertisements, and You shall bear all risks associated with the use of such content or trading Cryptos on such External Platforms.
1.9 Notwithstanding whether You have previously undergone the basic KYC process of the CoinSwitch Platform Provider, You agree that to avail the Bitcipher Services, You will complete the KYC process stipulated in accordance with Our KYC-AML Policy and other applicable policies and provide true and complete information in accordance with applicable law. Our collection, processing, storage, and sharing of Your personal information is further governed by the Privacy Policy.
1.10 You understand that except for the Bitcipher Services, We do not operate, control, or endorse any information, products or services on the internet in any way.
1.11You understand that any External Platform accessed by You may collect, store, process, and share Your information. We are not responsible for any data-processing activities carried out by any such External Platform, and We disclaim any and all liability in respect of the same. You should check the privacy policy or other applicable policies of any such External Platforms to establish how they may use Your information before You decide to use such External Platforms.
2. User Registration
2.1 Before You become a User or register with Us to create Your Bitcipher account (“User’s Bitcipher Account”) or avail the Bitcipher Services, (a) You need to first become a registered User of the CoinSwitch Platform, in accordance with the terms and policies of the CoinSwitch Platform Provider, and (b) You hereby represent and warrant that You (i) are at least 18 years old and competent to form a binding contract in India, (ii) are an individual with full legal capacity and authority to enter into these Terms, (iii) have not previously been suspended or removed from using the Bitcipher Services and/or any other products owned / operated by the LLP or any other Crypto platform, (d) are an Indian citizen, as contemplated under the Citizenship Act, 1955, and (e) are a person resident in India, as contemplated under the Foreign Exchange Management Act, 1999 and Income Tax Act, 1961 (together, the “Eligibility Criteria”). If You do not meet the Eligibility Criteria, You shall not register or attempt to register for a Bitcipher User’s Account and shall not use the Bitcipher Services. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent Your identity, age or affiliation with any person or entity to create a User’s Bitcipher Account.
2.2 In the event a User is not a natural person / human, resides or is during any period physically situated in any such jurisdiction outside of India, the User shall not register on the Bitcipher Services during such periods.
2.3 By registering for the Bitcipher Services, You agree to use the single-sign-in ID (“SSID”) created by You on the CoinSwitch Platform to log-in and avail the Bitcipher Services without creating or using a separate login for the Bitcipher Services. However, only Your Bitcipher User’s Account can be used for the Bitcipher Services. The SSID mechanism will be governed by the terms of the CoinSwitch Platform, being a technology functionality provided by the CoinSwitch Platform Provider. In the event of any conflict, these Terms shall prevail.
2.4 By accessing and using the Bitcipher Services and / or any part thereof, You represent and warrant that You are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list, designated as a “Specially Designated National” by OFAC (Office of Foreign Assets Control of the U.S. Treasury Department) or placed on the U.S. Commerce Department’s “Denied Persons List” or on the National Investigation Agency’s Most Wanted List or other similar lists or, without prejudice to the generality of foregoing terms, a resident of Cuba, Iran, North Korea, Crimea, Sudan, or Syria. We may, in Our sole and absolute discretion, with or without any intimation to You, add additional countries or jurisdictions to the restricted or prohibited list. In an event that You are not permitted to trade using the Bitcipher Services by applicable law, You shall not use the Bitcipher Services.
2.5 If any breach of the foregoing clauses 2.1, 2.2, 2.3, 2.4 or 2.5 or any other provision of these Terms is brought to the notice of the LLP, in addition to any rights and remedies that We have under these Terms or under any applicable laws, We may forthwith restrict / terminate Your access and use of the Bitcipher Services. The Parties agree that the Users shall be solely responsible for ensuring compliance with these Terms , including but not limited to the obligations to follow applicable laws. Any restriction or termination of Your access and use of the Bitcipher Services may also restrict or terminate Your access or use of the CoinSwitch Platform and various other third party services made available through the CoinSwitch Platform, in accordance with their respective terms and policies.
2.6 You hereby undertake and acknowledge that You will avail the Bitcipher Services through not more than one User’s Bitcipher Account.
2.7 In order to create a User’s Bitcipher Account and thereby avail the Bitcipher Services, the User may be required to provide certain data, information or details in addition to what has been collected by the CoinSwitch Platform (which may include Your identity, address, financial information, Crypto wallet related information, financial position, or transactions, or such other information required by law or Our policies), which could be during the time of registration, post registration, or before, during or after You undertake any activity or transaction using the Bitcipher Services. You represent and warrant that: (a) all required data, information or details You provide to the LLP is current, truthful, authentic, complete and accurate; and (b) You will keep the data, information and details current and maintain the accuracy of such information.
2.8 You may terminate Your use of the Bitcipher Services and delete Your User’s Bitcipher Account at any time, for any reason, by following the instructions provided by the LLP. However, the data and information provided by You may be retained by Us for compliance with applicable laws and for cooperation with statutory, administrative, judicial, quasi-judicial, state bodies, or law enforcement authorities. Please review Our Privacy Policy and FAQ and that of the CoinSwitch Platform Provider for more details.
2.9 You are responsible for maintaining the confidentiality and security of Your use of the Bitcipher Services, including Your User’s Bitcipher Account password, and activities that occur in or through Your User’s Bitcipher Account, and for restricting access to Your computer or electronic device (including mobile device, as the case may be) from third parties, and at all times, to prevent unauthorized access to / misuse of Your User’s Bitcipher Account. You agree to accept responsibility for all activities, whether Your own or of any third party, that occur while You avail Bitcipher Services, using Your User’s Bitcipher Account or due to Your failure to protect the credentials / password or Your device.
2.10 Any data, information, instructions or transactions initiated, originated, transmitted or published from Your use of the Bitcipher Services shall deem to be duly undertaken or authorized by You, and We shall not be liable for acting on any such data / information / instruction / transaction / sale / purchase / other requests to the LLP. Any records created and maintained by the LLP or its third party service providers of the communications, transactions, instructions or operations made or performed, processed or effected through or in relation to Your using the Bitcipher Services including from Your User’s Bitcipher Account or in relation to keeping, using or withdrawing any Indian Rupees and/or Crypto by You or any person purporting to be You, acting on behalf or purportedly acting on Your behalf, with or without Your consent, shall be binding on You for all purposes whatsoever and shall be conclusive evidence of such communications, transactions, instructions or operations.
3. Electronic communications
3.1 You agree to receive electronically all communications, agreements, documents, notices, and disclosures (collectively, “Communications”) that the LLP provides to You in connection with Your use of the Bitcipher Services. We may provide these Communications to You by posting them on the electronic platform associated with the Bitcipher Services including through in app notification or notification via Your mobile operating system or app store provider, emailing them to You at the email address You provide in Your User’s Bitcipher Account, sending them through any instant messenger chat service, or through other forms of electronic communication such as SMS or text message to the mobile phone number that You provide as part of Your SSID or Your User’s Bitcipher Account. Your mobile carrier’s standard mobile messaging and data rates will apply.
3.2 It is Your responsibility to provide the LLP with accurate and complete contact information and to provide updates to Your contact information as necessary. You understand and agree that if the LLP sends You an electronic Communication, but You do not receive it because (i) Your contact information on file with Us under Your User’s Bitcipher Account or SSID is incorrect, blocked by Your service provider, or out of date, (ii) the Communication was re-routed to Your spam folder, or (iii) You are otherwise not able to receive or access the Communication, the LLP will be deemed to have provided the Communication to You, which will be binding on You. If any email communication is returned as undeliverable, We retain the right to block Your access to the Bitcipher Services until You provide and confirm a new and valid email address and, if required, any additional checks or diligence by Us.
3.3 You authorize the LLP and its affiliates to contact You and communicate with You for any services or offer(s) made available by the LLP. The LLP or its affiliates may use third party service providers to send alerts or communicate with You. Notwithstanding any Do Not Disturb (DND) setting, You hereby grant explicit consent to the LLP and its affiliates to contact You over calls, SMS, emails and any other mode of communication.
3.4 In the event that You believe there is any error in the information provided in the Communication, the LLP shall be immediately informed about the same by You, and shall take such action as it deems fit in its sole discretion.
3.5 You shall not hold the LLP liable for any loss, damages, claim, or expense that may be incurred / suffered by You on account of any Communication.
3.6 With regard to Communications, You will indemnify and hold harmless the LLP and the SMS / e-mail / other third-party service provider (including but not limited to the CoinSwitch Platform Provider) including its officials from any damages, claims, demands, proceedings, losses, costs, charges and expenses whatsoever including legal charges and attorney’s fees which We or such SMS / e-mail / other third-party service provider may at any time incur, sustain, suffer or be subjected to as a consequence of, or arising out of, any of the following: (i) misuse by You or improper or fraudulent information provided by You; and/or (ii) incorrect contact details or contact details that belong to a third party provided by You.
4. Activities Prohibited by the LLP
4.1 The LLP has zero tolerance towards use of the Bitcipher Services for any illegal purpose. Any such abuse or any suspicious or malicious activities by any User may result in forthwith restriction of access to the Bitcipher Services and Indian Rupees and Crypto balances reflected in User’s Bitcipher Account. We may at Our sole discretion report such activities to the concerned regulatory and statutory authorities, if so required or deemed appropriate by Us in Our sole discretion.
4.2 In connection with Your use of the Bitcipher Services, You hereby agree that you will not:
4.2.1 violate (or assist any other party in violating) these Terms, Privacy Policy, Trading Policy and KYC-AML Policy, or any applicable law, statute, ordinance, or regulation;
4.2.2 intentionally try to defraud (or assist in the defrauding of) the LLP or any other User;
4.2.3 make any representations on behalf of the LLP;
4.2.4 provide false, inaccurate, or misleading information including any KYC information or any other document or information as sought by the LLP;
4.2.5 trade through the LLP using funds associated with any bank account other than Your own which is associated with Your User’s Bitcipher Account;
4.2.6 keep, store, use, withdraw or transaction with Cryptos or fiat currency that are obtained through, or otherwise use the Bitcipher Services for any illegal, unlawful or fraudulent activities including without limitation money laundering, gambling, child trafficking, child porn, drugs or narcotics, counterfeiting, or terrorist financing;
4.2.7 trade taking advantage of any technical glitch, malfunction, failure, delay, default, or security breach;
4.2.8 take any action that interferes with, intercepts, or expropriates any system, data, or information;
4.2.9 partake in any transaction involving the proceeds of illegal activity;
4.2.10 attempt to gain unauthorized access to other User accounts, the Bitcipher Services, or any related networks or systems;
4.2.11 use the Bitcipher Services on behalf of any third party or otherwise act as an intermediary between the LLP and any third parties or acting for benefit of any third party;
4.2.12 use the Bitcipher Services for any benami transaction;
4.2.13 engage in conduct that is detrimental to the LLP or to any other User or any other third party or the public at large;
4.2.14 collect any user information from other Users, including, without limitation, email addresses;
4.2.15 participate in any unfair trade practice or market manipulation, including but not limited to all such acts like pump and dump schemes, trading on any inside or non-public information acquired through sources or acts not permitted by law, wash trading, trading for the purposes of market manipulation, spoofing or layering etc.;
4.2.16 use the Bitcipher Services to violate public morale, any third party / public interest or for any act being not permitted by the law of the land;
4.2.17 use multiple devices to access the Bitcipher Services at a given point of time, i.e. You shall not access the Bitcipher Services through multiple devices simultaneously;
4.2.18 duplicate, distribute, create derivative works of display or commercially exploit the LLP or any of its content, features or facilities, directly or indirectly, or the price of the Cryptos shown on the Bitcipher Services without Our prior written permission;
4.2.19 without the prior written consent of the LLP, modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interest in the Bitcipher Services and/or Trademarks or Materials associated with the Bitcipher Services or any part thereof, or create their derivative works or otherwise take unauthorised advantage of the Bitcipher Services and/or Trademarks or Materials associated with the Bitcipher Services;
4.2.20 defame, harass, or violate the privacy or intellectual property rights of the LLP or any other User or other third party;
4.2.21 upload, display or transmit any messages, photos, videos or other media that contain illegal goods, pornographic, violent, obscene or copyrighted images or materials for use as an avatar, in connection with a payment or payment request, or Your use of the Bitcipher Services or otherwise;
4.2.22 host, display, upload, modify, publish, transmit, store, update or share any information that,— (i) belongs to another person and to which the User does not have any right; (ii) is, obscene, pornographic, pedophilic, invasive of another’s privacy, including bodily privacy, insulting or harassing on the basis of gender, racially or ethnically objectionable, relating or encouraging money laundering or gambling, promoting enmity between different groups on the grounds of religion or caste with the intent to incite violence or otherwise inconsistent with or contrary to the laws in force; (iii) is harmful to children; (iv) infringes any patent, trademark, copyright or other proprietary rights; (v) violates any law for the time being in force; (vi) deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any misinformation or information which is patently false and untrue or misleading in nature; (vii) impersonates another person; (viii) threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting other nation; and (ix) contains software virus or any other computer code, file or program designed to interrupt, destroy or limit the functionality of any computer resource;
4.2.23 impersonate any person or entity, falsely claim or otherwise misrepresent Your affiliation with any person or entity, or access the accounts of others without permission, forge another person’s information or digital signature, misrepresent the source, identity, or content of information transmitted to the LLP, perform any other similar fraudulent activity or otherwise use or avail the Bitcipher Services in what We reasonably believe to be a fraudulent manner;
4.2.24 refuse to cooperate in an investigation by the LLP or any public authority, or to provide confirmation of Your identity or any other information sought from You by the LLP or any public authority;
4.2.25 use the Bitcipher Services in a manner that results in or may result in any manner of loss to Us or third party claims against Us;
4.2.26 In addition, You agree not to:
a) use circumvention or obfuscating technologies to mask their IP addresses or to hide transaction details;
b) create or circulate any technologies which violate, or which would facilitate other Users to violate the terms hereof including for masking IP addresses or to obfuscate transaction details;
c) misrepresent, misinform or misguide the LLP in any manner;
d) upload, host or transmit any viruses, malware, adware, spyware, worms, Trojan horses, keystroke loggers, spyware, logic bombs, time bombs or any other harmful programs or code which could adversely affect the use or operation of the Bitcipher Services, Our hardware or systems, or the computers, tablets, phones or other devices of any other Users or other third parties, or to upload any content or materials containing any such content;
e) reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of as regards the Bitcipher Services or any part thereof, except and only to the extent this is expressly permissible by applicable law;
(f) use the Bitcipher Services in any manner that could damage, disable, overburden, or impair it, including, without limitation, accessing the Bitcipher Services in an automated manner, imposes an unreasonably or disproportionately large load on Our infrastructure/network;
(g) use any robot, spider, device, software or other automatic device, or manual process to monitor or copy the Bitcipher Services without prior written permission or interfere or attempt to interfere with the Bitcipher Services;
(h) send automated requests of any kind to Us without express permission in advance from Us;
(i) reverse look-up, trace or seek to trace any information of any other User, or visitor of the Platform, to its source, or exploit the Bitcipher Services or information made available or offered by or through the use of the Bitcipher Services, in any way whether or not the purpose is to reveal any information, including but not limited to personal identification information, other than Your own information, as provided by You; or
(j) disrupt or interfere with the security of, or otherwise cause harm to, the Bitcipher Services, and systems resources, accounts, passwords, servers or networks connected to it, or to any affiliated or linked websites or mobile applications.
4.3 The LLP reserves the right to investigate and/or take appropriate action against You in Our sole discretion if You engage in prohibited or illegal activities or violate any other provision of these Terms or otherwise create liability for Us or any other person or there is any reasonable suspicion or allegation or complaint from any legal / public / regulatory / statutory authority. Such action may include, in Our sole and absolute discretion, terminating and / or restricting Your access to the Bitcipher Services, reporting You to law enforcement authorities without providing any notice to You about any such report and confiscating any balance pertaining to Your use of the Bitcipher Services.
4.4 Users are cautioned against undertaking any suspicious activity through the LLP or by the Bitcipher Services. In the event of any suspicious or large transactions being undertaken by You, the LLP shall have the right but not the obligation to verify such activity by sharing Your IP address, KYC details, and/or Your other information or details with the relevant authority, and if required, suspend the transactions or freeze Your access to the Bitcipher Services.
5. Fee:
5.1 Availing the Bitcipher Services is subject to the payment of Our fee for the Bitcipher Services and the exchange fee paid to third party Crypto exchanges as communicated by the LLP from time to time on each transaction executed / facilitated by the LLP. Any changes to the fee shall be communicated by the LLP using the electronic platform associated with Bitcipher Services and such changes shall automatically become effective immediately after they are posted on such a platform. Unless otherwise stated, all fees, if any, shall be quoted in Indian Rupees. You shall be solely responsible for compliance of all applicable laws in connection with making any payments to Us of the aforesaid fees.
5.2 LLP shall also charge a separate service fee for providing the Assured Quantity Service in case of instant orders as shall be disclosed in the contract note. The LLP reserves the right to provide discounts on its services from time to time at its own discretion. Please refer to the Trading Policy to learn about Assured Quantity Service.
5.3 Transfer of fiat currency through credit card, debit card, or net banking or other payment mode may be subject to a transaction fee. Transfers and withdrawals of Crypto (if and to the extent permitted) or fiat currency may be subject to a transaction fee (which could be in fiat currency or Crypto).
5.4 The LLP shall issue a contract note to the Users for the Bitcipher Services for the trade undertaken on the instructions of the User. The term ‘contract note’ as used in these Terms refers to a comprehensive document issued by the LLP on completion of a trade intimating the details of the transaction made on the instructions of the User which shall include but not be limited to: (a) transaction details of the multiple inter-related trades and transaction legs being executed through third party Crypto exchanges along with exchange code, if any; (b) total price of the transaction; and (c) transaction note cum tax invoice towards the service fees charged for executing the transaction and/or providing other services including Assured Quantity Service, if applicable.
5.5 You shall inform Us in writing immediately but no later than within 15 days of the relevant transactions, if any irregularities or discrepancies exist in the transactions made by You while availing the Bitcipher Services. If We do not receive any information to the contrary within 15 days, We shall assume that the transactions are correct. All records maintained by Us, in electronic or documentary form of the instructions of the User and such other details (including but not limited to payments made or received) such as any Contract Note issued pursuant to the Terms herein, shall as against the User, be deemed to be conclusive evidence of such instructions and such other details.
5.6 You agree that Your mobile device, mobile service provider, internet service provider or any other third-party services that You may avail from anybody to avail the Bitcipher Services, may levy charges and You are solely responsible for such charges as per Your agreement with the third party service provider.
6. Taxes:
6.1 It is Your responsibility to determine, collect, report, and submit any / all taxes applicable to the payments and/or Your Crypto you make or receive in connection with the use of the Bitcipher Services to the appropriate tax authority in India or under any other applicable laws. The LLP is not responsible for determining whether taxes apply to Your transaction or the Cryptos owned by You or accounted to You in the LLP’s Crypto Custody Wallet, or for collecting, reporting or remitting any taxes arising from any transaction undertaken via the Bitcipher Services.
6.2 The LLP has a right to deduct applicable taxes on the executed transaction as per the Income Tax Act 1961 or other Applicable taxes.
6.3 In addition to the fee / commission charged by the LLP on the trades executed on the Bitcipher Services, Users shall be liable to pay the applicable indirect taxes on the transactions executed while availing the Bitcipher Services. The total price communicated to the Users by the LLP for such trades before confirming on the execution of a trade would be inclusive of the commission/fee charged by the LLP, network and third party fees, if any, and applicable taxes.
7. Risks and Disclaimers:
7.1 The use of the Bitcipher Services may entail the following risks:
7.1.1 Crypto products are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Reserve Bank of India (“RBI”) and the Government of India have issued multiple circulars and communications cautioning Users regarding the risks involved with respect to Cryptos. Users in India shall therefore avail of the Bitcipher Services subject to the above cautions issued by the RBI and Government of India and solely at their own risk.
7.1.2 In many cases, Crypto transactions are irreversible. Once a transaction is initiated by you, it can neither be canceled, modified nor reversed by Us upon Your request.
7.1.3 The values of Cryptos are highly volatile and tend to fluctuate, due to which there may be an increase or decrease in the value of the Crypto You receive or transfer after a transaction. Cryptos are subject to large swings in value and may even become worthless. There is always an inherent risk of losses associated with buying, selling, or trading in Cryptos. It is also possible that the valuation and price of Crypto changes after the transaction has been initiated by You or during the transaction, and You are hereby advised/ cautioned of the same. Value of a Crypto is subject to market change, and subject to the Assured Quantity Service provisions wherein applicable, under no circumstance shall the LLP be liable for any such changes or fluctuations whether before, during or after the transaction.
7.1.4 Cryptos are as yet autonomous and not specifically regulated. It may neither be backed by a specific government including India nor it is a legal tender in India nor is it a specifically regulated investment / security / commodity / goods in India, and hence may be susceptible to risks not generally associated with other forms of investments / securities / commodities / goods. The law relating to Cryptos is ambiguous and in flux in India.
7.1.5 As Cryptos are reliant on decentralised and peer-to-peer networks, there is also the risk of loss of confidence in Crypto trading. The Cryptos do not guarantee any assured returns as the valuation of Cryptos is based on a supply and demand economy model, and is therefore, subject to constant changes.
7.1.6 There may be additional risks that We have not foreseen or identified in these Terms of Use.
7.1.7 You should carefully assess whether Your financial situation, knowledge, expertise, experience, technical capabilities, and tolerance for risk are suitable for buying, selling, or trading Cryptos or otherwise availing the Bitcipher Services.
7.1.8 The LLP is not responsible for the outcome, whether positive or negative, of any action performed by any of its Users within or related to Cryptos or the Bitcipher Services.
7.1.9 It is reiterated that Users shall not buy, sell or trade in Cryptos under any assumption of high earnings or profits or guaranteed returns. You further understand that past performance of Crypto is not indicative of future prices / value.
7.2 The LLP expressly disclaims as under:
7.2.1 NOTWITHSTANDING ANY OTHER PROVISION, BITCIPHER SERVICES AND INFORMATION AND SERVICE THEREIN ARE PROVIDED ON “AS IS”, “AS-AVAILABLE” BASES, AND WITHOUT WARRANTY, REPRESENTATION OR INDEMNITY OF ANY KIND, EXPRESS, IMPLIED, ORAL, WRITTEN, STATUTORY, OR OTHERWISE, INCLUDING WARRANTY OF MERCHANTABILITY, FITNESS FOR ANY PURPOSE, OR NON- INFRINGEMENT; OR FOR THE USE, SUFFICIENCY, RELIABILITY, TIMELINESS, QUALITY, SECURITY, SAFETY, SUITABILITY, AVAILABILITY, COMPLETENESS OR ACCURACY OF BITCIPHER SERVICES AND INFORMATION AND SERVICES THEREIN. THE LLP, ITS AFFILIATES AND THEIR RESPECTIVE DIRECTORS, PARTNERS, OFFICERS, EMPLOYEES, AGENTS AND THIRD PARTIES IS / ARE NOT LIABLE FOR ANY LOSS OF CRYPTOS, REVENUE, PROFITS, FUNDS, FIAT CURRENCY BALANCES, ASSETS, DATA OR FOR ANY DAMAGES, DIRECT (TO THE FULL EXTENT PERMITTED TO BE EXCLUDED UNDER ANY APPLICABLE LAW) OR INDIRECT, PROXIMATE, REMOTE, SPECIAL, INCIDENTAL, CONSEQUENTIAL OR EXEMPLARY, RESULTING FROM USE OR ATTEMPTED USE OF BITCIPHER SERVICES AND INFORMATION AND SERVICES THEREIN, WHETHER OR NOT SUCH LOSSES OR DAMAGES WERE FORESEEABLE OR THE LLP WAS ADVISED OF THE POSSIBILITY THEREOF. THE LLP DISCLAIMS LIABILITY FOR ANY PARTY’S ACT OR OMISSION IN USE OF OR RELIANCE UPON BITCIPHER SERVICES, OR ANY INFORMATION OR SERVICE THEREIN INCLUDING WITHOUT LIMITATION INACCURACY IN OR THE OMISSION OR INTERRUPTION OF THE PRICE DATA OR AN ERROR OR DELAY IN THE TRANSMISSION OF PRICE DATA. BITCIPHER SERVICES AND INFORMATION AND SERVICES THEREIN MAY BE SUBJECT TO RESTRICTIONS, LIMITATIONS, DELAYS, AND OTHER PROBLEMS INHERENT IN THE USE OF THE INTERNET AND ELECTRONIC COMMUNICATIONS OR A BUSINESS WHERE THERE ARE REGULATORY UNCERTAINTIES. WE DO NOT GUARANTEE THAT YOUR USE OF THE BITCIPHER SERVICES OR ANY PART THEREOF WILL ALWAYS BE AVAILABLE, UNINTERRUPTED OR ERROR-FREE.
7.2.2 CRYPTOS MAY BE TARGETED BY HACKERS OR MALICIOUS GROUPS OR ORGANIZATIONS WHO MAY ATTEMPT TO INTERFERE WITH THE CRYPTOS AND/OR THE SALE/PURCHASE OF THE CRYPTOS OR STEAL THE CRYPTOS IN VARIOUS WAYS, INCLUDING MALWARE ATTACKS, DISTRIBUTED DENIAL OF SERVICE, CONSENSUS-BASED ATTACKS, SYBIL ATTACKS, PHISHING, SMURFING AND HACKING. BITCIPHER SERVICES AND INFORMATION, AND SERVICES THEREIN, AND/OR LLP’S OR LLP’S GROUP COMPANIES OR AFFILIATES OR THEIR THIRD PARTY SERVICE PROVIDERS AND/OR THIRD PARTY EXCHANGES MAY BE SUBJECT TO SUCH TARGETS, ATTACKS ETC. AND NOTWITHSTANDING ANY OTHER PROVISION, THE LLP, ITS AFFILIATES AND THEIR RESPECTIVE DIRECTORS, PARTNERS, OFFICERS, EMPLOYEES, AGENTS AND THIRD PARTIES SHALL NOT BE LIABLE TO THE USER OR ANY THIRD PARTY FOR THE SAME.
7.2.3 USER AGREES THAT IT IS POSSIBLE THAT NEW REGULATIONS ADDRESSING BLOCKCHAIN TECHNOLOGY, CRYPTOS, CRYPTO EXCHANGES, CRYPTO EXCHANGE AGGREGATORS (LIKE THE LLP) AND THE BITCIPHER SERVICES, OR INFORMATION PROVIDED AND SERVICES THEREIN BY THE LLP UNDER THESE TERMS, MAY BE INTRODUCED OR EXISTING REGULATIONS MAY BE MODIFIED, WHICH MAY PROHIBIT, PREVENT, RESTRICT, OR OTHERWISE MAY HAVE A NEGATIVE EFFECT ON THE BITCIPHER SERVICES, INFORMATION AND SERVICES THEREIN PROVIDED BY THE LLP AND/OR THE USAGE OF BITCIPHER SERVICES, OR INFORMATION AND SERVICES THEREIN BY THE USER, WHICH MAY INCLUDE A TOTAL LOSS OF INDIAN RUPEES AND/OR CRYPTOS OF USER WITH THE LLP (INCLUDING AS STORED BY THE LLP WITH THIRD PARTIES WHICH MAY INCLUDE LLP’S GROUP COMPANY OR AFFILIATES) AND NOTWITHSTANDING ANY OTHER PROVISION THE LLP, ITS AFFILIATES AND THEIR RESPECTIVE DIRECTORS, PARTNERS, OFFICERS, EMPLOYEES, AGENTS AND THIRD PARTIES SHALL NOT BE LIABLE OR RESPONSIBLE FOR THE SAME.
7.2.4 THE LLP ACTS AS THE DULY APPOINTED AGENT OF THE USER TO WHOM THE PAYMENT IS DUE AND DOES NOT OPERATE A PAYMENT SYSTEM. USER ALSO HEREBY DULY APPOINTS THE LLP AS ITS AGENT FOR THIS PURPOSE.
8. Limitation of Liability:
8.1 Notwithstanding anything to the contrary contained in these Terms, the Parties unconditionally agree that in no event shall the LLP or its affiliates, and their respective officers, partners, directors, agents, employees, third parties and suppliers be liable for lost revenue, receipts, profits, lost opportunity, loss of fiat currency, data or Cryptos or any remote, proximate, special, incidental or consequential damages arising out of or in connection with Your use of the Bitcipher Services or otherwise in connection with Our offering of the Bitcipher Services, whether or not such loss or damages were foreseeable or the LLP and/or its affiliates were advised of the possibility thereof..
8.2 Notwithstanding anything contained in these Terms, in no event shall the LLP or its affiliates, and their respective officers, partners, directors, agents, employees, third parties and suppliers be liable or responsible for any damages, claims, applications, losses, injuries, delays, accidents, costs, business interruption costs, or other expenses (including, without limitation, attorneys’ fees or the costs of any claim or suit), nor for any incidental, indirect, general, special, punitive, exemplary, or consequential damages, including without limitation loss of goodwill or business profits, loss of fiat currency, loss or theft of Cryptos or other assets, work stoppage, data loss, computer failure or malfunction, or any other commercial or other losses arising out of or related to any Your’s or any third party’s use of the Bitcipher Services, buy, sell or trading of Your Cryptos by any other party authorized / not authorized by You (collectively, all of the foregoing items shall be referred to herein as “Losses”). The LLP and its affiliates, and their respective officers, partners, directors, agents, employees, third parties and suppliers are hereby released by You and anyone claiming under You from liability for any and all Losses. The foregoing limitation of liability shall apply whether the alleged liability or Losses are based on contract, negligence, tort, strict liability, or any other basis, even if the LLP and /or its affiliates have been advised of or should have known of the possibility of such losses and damages, and without regard to the success or effectiveness of other remedies. Notwithstanding anything else in these Terms of Use or any other document, in no event shall the combined aggregate liability of the LLP for any Loss exceeding INR 100/- (Rupees One Hundred Only).
8.3 The LLP shall not be liable for a breach of these Terms and will not be required to fulfil its obligations hereunder, and the User shall assume any and all risks and liability, where such breach or inability arises in connection with any force majeure event, including acts of God, labor disputes or other industrial disturbances, electrical, telecommunications, hardware, software or other utility failures, software or smart contract system bugs or weaknesses, earthquakes, storms or other nature-related events, blockages, embargoes, riots, acts or orders of government, actions of the government, change of laws, introduction of new law, acts of terrorism or war, epidemic, pandemic, technological change, changes to any blockchain-related protocol, any actions or inactions of third parties, lawful acts of public authorities, market movements, shifts, or volatility and/or events experienced by third parties, e.g., bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties, and such other similar events which are beyond reasonable control of the LLP (“Force Majeure”).
8.4 The User acknowledges that the LLP may engage the services of third party service providers or partner with other third parties in connection with the operation and/or provision of the Bitcipher Services, and agrees that the LLP shall not be liable to the User for any suspension, halt or interruption of the Bitcipher Services and/or the failure to execute any transaction through the LLP where such circumstances arise or result from any interruptions, errors, default or otherwise by any third party service providers or other third party partner in connection with the operation and/ or provision of the Bitcipher Services.
9. Financial Regulation and Advice:
9.1 We do not provide any investment advice or financial advice in connection with the Bitcipher Services. While We may provide information on the value, range, volatility of Cryptos, and events that may affect/have affected the value of Cryptos directly on the Bitcipher Services or through other social media channels, this is not investment advice or financial advice and should not be construed or relied on as such. The LLP will not be liable for any loss suffered by You in connection with any transaction involving the LLP / Bitcipher Services.
9.2 You are solely responsible for any and all buy, sell or trading orders placed while availing the Bitcipher Services, and all such orders entered by You are unsolicited by the LLP and are based on Your own research and decisions. You understand and acknowledge that You have not received and do not expect to receive any investment advice from Us or from any of our affiliates in connection with Your buy, sell or trading orders. You further understand and acknowledge that under no circumstances will Your use of the Bitcipher Services be deemed to create a relationship that includes the provision or tendering of investment advice.
9.3 The Bitcipher Services We provide is currently unlicensed within India as, to the best of our information and belief, no such regulatory license is applicable to the LLP for offering the Bitcipher Services.
10. Assignment; Entire Agreement; Waiver:
10.1 You acknowledge and agree that the LLP can freely assign these Terms or any of its rights under these Terms to any person or entity without Your consent.
10.2 You shall however, not be entitled to assign these Terms of Use, in whole or in part, to another person (subject to the rights of inheritance of any legally entitled heirs of the User upon the User’s death) without the prior written approval of the LLP which can be withheld or denied by the LLP in its sole and absolute discretion.
10.3 These Terms, along with the other guidelines, rules, additional / ancillary terms and conditions, and policies of the LLP as made available on the electronic platform associated with Bitcipher Services contain the entire understanding of the parties in respect of their subject matter and supersede all prior agreements, representations, warranties, covenants and understandings (oral or written) between or among the parties with respect to such subject matter. These Terms are not intended to confer upon any person, other than the Parties hereto, any rights or remedies hereunder.
10.4 No waiver hereunder can be granted, except as explicitly agreed in writing by the parties. No failure to exercise and no delay in exercising, any right, power or privilege under these Terms shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other right, power or privilege.
11. Termination and Suspension:
11.1 You may terminate this agreement with Us, at any time, following: (a) settlement of any pending transactions/instructions and of all dues to Us and our affiliates, (b) Your withdrawal of any INR balance maintained with the LLP, and (c) Your sale of any Crypto maintained on the LLP’s Crypto Custody Wallet. The LLP shall not be liable for any loss incurred to You in case You fail to complete these actions prior to terminating Your access and use of the Bitcipher Services.
11.2 You can choose to close down Your access to the Bitcipher Services by choosing the relevant option on the Platform or by writing to the LLP at support@crypto.coinswitch.co.
11.3 You agree that the LLP may, by giving notice, in its sole and absolute discretion, restrict or terminate Your access to the Bitcipher Services, including without limitation, by: suspending or terminating Your access to Your User’s Bitcipher Account, the LLP Crypto Custody Wallet, and/or the LLP’s content, services and tools; by delaying or removing hosted content; and by taking technical and legal actions to keep You off the Bitcipher Services, if We, in Our sole and absolute discretion, reasonably perceive that You are creating any problems, including without limitation, possible legal liabilities, infringement of the intellectual property rights, or acting inconsistently with the letter or spirit of these Terms of Use or applicable law. The obligation to provide notice as aforesaid shall not be applicable and notice shall not be given if so instructed by any law enforcement, judicial or government agency.
11.4 We may, in appropriate circumstances and at Our sole discretion, initiate the above actions for any reason, including without limitation, and in addition to the reasons as mentioned elsewhere in the Terms:
11.4.1 Attempts to gain unauthorized access to the Bitcipher Services or providing assistance to others’ attempting to do so;
11.4.2 Usage of the Bitcipher Services to perform illegal activities, including, without limitation, money laundering, illegal gambling operations, financing terrorism, or other illegal activities;
11.4.3 Violations of these Terms of Use / Privacy Policy / KYC-AML Policy / Trading Policy or any other applicable policy;
11.4.4 Failure to pay or fraudulent payment for transactions;
11.4.5 Unexpected operational difficulties; or
11.4.6 Upon the request of law enforcement or other government agencies.
11.5 The LLP may terminate or suspend Your access to the Bitcipher Services or Your User’s Bitcipher Account and/or Your LLP’s Crypto Custody Wallet or any part thereof at any time and with immediate effect for any reason or no reason, in Our sole discretion.
11.6 If You have a balance pertaining to the Bitcipher Services remaining in Your User’s Bitcipher Account / the LLP’s Crypto Custody Wallet which has been suspended, We may freeze such balance for so long as the User’s Bitcipher Account / Bitcipher Services is suspended. If Your access to the Bitcipher Services is terminated due to fraud, violation of law, or violation of this Agreement or other reasonable cause as determined by the LLP, We may, in our discretion, confiscate or freeze the balance pertaining to the Bitcipher Services remaining in Your User’s Bitcipher Account / the LLP’s Crypto Custody Wallet and/or deliver it to any applicable government, law enforcement, or other authorities where circumstances warrant.
11.7 We may suspend, withdraw, discontinue, or change all or any part of the Bitcipher Services including Your User’s Bitcipher Account and/or the LLP’s Crypto Custody Wallet, without notice. The LLP will not be liable to You including without limitation for any losses due to the unavailability of Bitcipher Services or any part thereof at any time or for any period.
11.8 We have the right to disable Your access to the Bitcipher Services or User’s Bitcipher Account or any part of thereof, at any time, if in Our reasonable opinion You have failed to comply with any of the provisions of these Terms or applicable laws. We may share the details of any of the breaches or violations of these Terms of Use, Privacy Policy, Trading Policy or any other terms between You and Us, also if We find or discover You are not eligible to use Bitcipher Services, or have breached any applicable law, to our affiliates, group companies and to the CoinSwitch Platform Provider in order to keep CoinSwitch Platform and other TPSP Service safe and secure including safe and secure for their respective users. CoinSwitch Platform Provider and/or its respective TPSP Services (third party service provider) at their sole discretion may take appropriate action on Your User Bitcipher Account and/ or any other User accounts with their respective services in accordance with their policies.
11.9 The LLP may suspend the trading service, Your access to Bitcipher Services or the User’s Bitcipher Account, or any other service extended by it due to unforeseen situations, change of law, Force Majeure, maintenance or any other reason as it deems fit in its sole discretion and You acknowledge that Your access to the Bitcipher Services/funds/ Crypto/ Your User’s Bitcipher Account/ the LLP’s Crypto Custody Wallet/ other services in case of such an instance may be limited or restricted or suspended, partially or fully. You accordingly understand and acknowledge that the LLP shall have no liabilities or obligations arising from such events.
11.10 The LLP shall, upon verification, block/suspend/close Your access to the fiat currency, LLP’s Crypto Custody Wallet or any aspect of the Bitcipher Services and/or terminate all facilities in relation thereto following the receipt of any information showing Your illegal, misleading, fraudulent, or suspicious activity or any activity by You which breaches these Terms, and We shall not be liable for any inconvenience, damages or losses caused to the User in this regard.
11.11 We may also restrict, terminate or suspend the use of the LLP’s Crypto Custody Wallet or fiat currency facility at any time without prior notice if We reasonably believe it is necessary for business or security reasons, or if required by applicable law.
11.12 Consequences of Termination: In addition to the other consequences set out above in this Clause 11, upon termination of this Agreement or earlier determination, the rendering of the Bitcipher Services to You shall stand immediately terminated by the LLP and You shall not be entitled to access or avail the Bitcipher Services. The LLP shall continue to retain Your information and data as per its Privacy Policy to ensure compliance with its legal obligations, and for audit and recording purposes. Any restriction or termination of Your access and use of the Bitcipher Services may restrict or terminate Your access or use of the CoinSwitch Platform and various other third party services You may be using or accessing on such CoinSwitch Platform, in accordance with and subject to the terms and policies of the relevant third parties. We and our affiliates shall not be responsible or liable for any losses or damages or any claims that You may suffer or incur due to restriction, suspension or termination of Your use or access of the CoinSwitch Platform and services of other third parties provided on or via the CoinSwitch Platform. You hereby expressly permit us to share all the relevant and necessary data or information with the CoinSwitch Platform Provider regarding and in relation to the restriction, suspension or termination of Your use or access to the Bitcipher Services (if applicable).
12. Indemnity:
To the full extent permitted by applicable law, You hereby indemnify, defend and hold harmless the LLP, and its affiliates, officers, directors, partners, agents, employees, and suppliers against any Losses, action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred from Your use of the Bitcipher Services (including but not limited to transfers from or transfers into the LLP’s Crypto Custody Wallet or any other Crypto wallet belonging to You) and/or from Your violation of these Terms, Privacy Policy, Trading Policy, KYC-AML Policy and other applicable policies including but not limited to Your violation of applicable laws while using the Bitcipher Services.
13. Contact:
If You have any questions relating to these Terms of Use, Your rights and obligations arising from these Terms of Use and/or Your use of the Bitcipher Services, or any other matter, please contact Our Grievance Officer:
Name: Ramakrishna Murthy
Email: support@crypto.coinswitch.co
Law enforcement, statutory or regulatory agencies / authorities should contact our Nodal Officer:
Email: nodaldesk@crypto.coinswitch.co
14. Governing Law and Jurisdiction:
These Terms of Use shall be governed and construed in accordance with the laws of India without giving effect to its principles of conflict of laws. The Parties agree to irrevocably submit to the exclusive jurisdiction of the courts situated in Bengaluru, Karnataka, India for the resolution of any disputes or differences arising from these Terms of Use.
15. Further Assurances:
The User shall execute and deliver such additional instruments and other documents and shall take such further actions as may be necessary or appropriate to effectuate, carry out and comply with all of the terms of these Terms and applicable law.
16. Severability:
If any word, phrase, sentence, clause or provision of these Terms as applied to a Party or to any circumstance is adjudged by a court to be invalid or unenforceable, the same will in no way affect any other circumstance or the validity or enforceability of any other word, phrase, sentence, clause or provision of these Terms. If any provision of these Terms , or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the Parties agree that the court making such determination shall have the power to reduce the duration and/or area of such provision, and/or to delete specific words or phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced.
17. Cumulative Remedies:
The rights and remedies of the LLP provided by these Terms are cumulative and the use of any one right or remedy shall not preclude or waive its right to use any or all other remedies. Said rights and remedies are given in addition to any other rights the Platform may have under applicable law.
18. Confidentiality:
18.1 You acknowledge that, in the course of Your relationship with Us and/or in using the Bitcipher Services, You may obtain confidential information relating to the LLP, Bitcipher Services and/or third parties (“Confidential Information”). Such Confidential Information belongs solely to the LLP and includes, but is not limited to, the features and mode of operation of the Bitcipher Services, information related to other Users, and/or other technical, business, or product data. In regard to this Confidential Information:
18.1.1 You shall not use (except as expressly authorized by these Terms) or disclose Confidential Information without the prior written consent of the LLP unless such Confidential Information becomes generally publicly available without Your breach of these Terms.
18.1.2 You agree to take reasonable measures to maintain the Confidential Information in confidence.
Disclaimer: The translated version of these Terms of Use/Privacy Policy/Trading Policy/KYC-AML Policy, if any, is made available on a reasonable best efforts basis and solely for Your convenience. For all legal purposes and for the purposes of interpretation or performance, the English version shall prevail over the version in any other Language.