Exchange terms and conditions

Last update: 08 September 2021 year

RECOMMENDATIONS FOR USING THE BITZLATO EXCHANGE

General Provisions. 

After completing the registration and identity verification procedures for your Personal Profile, you can conduct crypto trading and exchange one cryptocurrency for another on the Bitzlato Exchange in accordance with these Recommendations, provisions of the Bitzlato Terms of Service, as well as with all associated Regulatory instruments, posted on the official Bitzlato website. 

After registration, you get access to your wallet.

All funds transferred to the wallet belong to you as the owner of the wallet. All operations/actions on the wallet are carried out at your command, and are executed electronically through the Bitzlato Exchange, any commands of third parties regarding your account will not be accepted.  

Personal Profile and wallet can be solely used by the person for whose name they were registered. Bitzlato reserves the right to temporarily restrict the use, freeze or close the Personal Profile, if there are suspicions about its use by an individual other than the person for whose name the Personal Profile and account were registered, unless otherwise agreed by the Parties in writing. For the formation of a deposit on the Bitzlato Exchange, you need to top up the wallet with cryptocurrency, in accordance with the payment details presented on the Exchange (wallet address of the selected cryptocurrency).

During the process of topping up funds for the formation of a deposit, Bitzlato has the right to make a request regarding the source of origin of the funds, being put on the deposit.

If you specify incorrect payment details (wallet address), you are solely responsible and yourself bare all risks associated with errors in specifying the payment details.

Your deposit will be topped up after receiving a certain number of confirmations by the network, depending on the type of cryptocurrency.

Bitzlato has the right to restrict the input of cryptocurrency, while the minimum input amount of cryptocurrency being put on a deposit cannot be less than the network commission of the chosen cryptocurrency and the commission of the Bitzlato Exchange.

Bitzlato has the right to restrict the withdrawal of cryptocurrency at its sole discretion without prior notice to the user. 

The withdrawal of cryptocurrency is carried out only after passing the two-factor authentication procedure for the security of your wallet and Personal Profile.

All transactions executed by you are irreversible.

Conducting Trading.

Trading is carried out 24 hours a day, apart from maintenance work and force majeure situations, which cannot be influenced by the Exchange staff. 

The placed order is accepted by the Bitzlato Exchange, provided that in your wallet you have the required amount of cryptocurrency (chosen by you) to place the order.

If one of your orders fully or partially matches another user’s order, Bitzlato will perform a cryptocurrency exchange. At the same time, the price at which you placed the order, and the order execution price may differ.  Order execution can be carried out through the execution of several counter-orders. 

The formation of the price of a particular currency pair is performed through the trading mechanisms and arises from third-party sources at a specific date and time, the data is updated on an ongoing basis. 

Information on all your transactions is stored on the Bitzlato Exchange and is available to you at any time through your Personal Profile.

Types of orders and operations with orders.

Limit orders

A buy limit order represents a User’s command or offer to buy a certain amount of cryptocurrency at an exchange rate predefined by the user.

A buy limit order can be executed at a lower exchange rate than specified in the placed order. A buy limit order cannot be executed at an exchange rate higher than the one specified in the placed order.

A sell limit order represents a User’s command or offer to sell a certain amount of cryptocurrency at an exchange rate predefined by the user

Market orders

Buy market orders represent the User’s offer to buy a certain amount of cryptocurrency without specifying the exchange rate.

The order will be executed at the lowest sell exchange rate available on the Bitzlato Exchange at the time the order is placed.

The fee, for the operation performed at the market price, will be charged off immediately at the time of the transaction.

A sell market order represents the User’s offer to sell a certain amount of cryptocurrency without specifying the exchange rate.

The order will be executed at the highest buy exchange rate available on the Bitzlato Exchange at the time the order is placed.

Bitzlato may, at its own discretion, provide additional products and online services for other types of cryptocurrency trading.

Cancellation of orders

You can cancel orders placed on the Bitzlato Exchange only before they are matched with the orders of other users, that is, prior to the moment when they are fully or partially executed. Once your order has been executed, you cannot modify, revoke, or deregister to execute the order.

You can cancel any partially executed order only in the amount of the unexecuted portion of the order.

Commissions and Fees.

You agree to pay Bitzlato the commissions and fees specified in the following link __________________________________________________________________

Bitzlato has the right to unilaterally revise the commissions amount at any time. Any changes concerning commissions and fees come into force from the moment they are posted on the abovementioned link. Any amended commissions and fees will be applied to all sales or other operations, that take place after amended commissions and fees entered into force. 

Bitzlato has the right to withhold commissions that you have not paid from your wallet and deposit.

Guarantees and Risks.

You understand and agree that Bitzlato and all online services provided by us, including the Exchange, its components, interfaces, any associated equipment, any documentation, data, and other materials are provided without guarantees of suitability for a particular purpose. 

Furthermore, Bitzlato does not provide any guarantees regarding the completeness, accuracy, timeliness of data and information provided on the Bitzlato Exchange. Bitzlato assumes no liability or responsibility for claims related to any software, online service and its components, digital financial assets, cryptocurrency and its exchange rate, transactions, Personal Profile access, deposit, wallet, registration data, materials published on the Bitzlato website and any other information.   

In the same way as with any asset, the value of cryptocurrencies and digital assets can fluctuate significantly, and there is a considerable risk of economic losses associated with buying, selling, storing, or investing in such digital assets/cryptocurrencies. 

You assume all risks associated with operations with cryptocurrencies, digital currencies, and their derivatives, as well as associated with the use of the Bitzlato online service and its components.

By accessing, using, or attempting to use the Bitzlato online service in any capacity, you confirm that you accept these Recommendations, the Bitzlato Terms of Service, the Privacy Policy as well as all associated Regulatory instruments, posted on the official Bitzlato website and concur with them in their entirety.

If you disagree in any way, then please do not use the Bitzlato online service.

 Miscellaneous.

When using Bitzlato Exchange and other Bitzlato online services you agree and undertake to abide all Regulatory instruments, posted on the official Bitzlato website, including the Bitzlato Terms of Service, the Privacy Policy, these Recommendations, and other documents posted now or in the future.

All actions that you perform within Bitzlato should comply with the requirements of applicable laws and regulations of the jurisdiction in which you interact with the Exchange and in general with the Bitzlato online service.

You agree not to use the Bitzlato Exchange to manipulate the market (i.e., Pump-and-Dump schemes, flash trading, independent trading, pre-launching, quote stuffing and any other manipulation methods regardless of the legitimacy of one or another method)