User Agreement Exchange

Last update: 16 December 2020 year

THANK YOU FOR CHOOSING Bitzlato.com (hereinafter “Site” “Service”).

This User Agreement is an e-contract between you (“User”) and Bitzlato limited, a company registered and operating in accordance with the laws of Hong Kong, registered at UNIT 617, 6 / F, 131-132 CONNAUGHT ROAD WEST, SOLO WORKSHOPS, HONG KONG (hereinafter “Bitzlato”), regarding your use of this website, all services, products and content provided by Bitzlato.

The text of this User Agreement, permanently posted at https://bitzlato.com/law_documents, contains all the essential conditions of the Bitzlato public offer. Your sign up or use of the exchange service is a confirmation that you have read, understand and fully accept the terms of this current User Agreement with possible subsequent changes and additions to it.

THE APPROPRIATE ACCEPTANCE OF THIS OFFER IS THE USER’S IMPLEMENTATION OF THE FOLLOWING STEPS:- ACKNOWLEDGMENT WITH THE TERMS OF THE USER AGREEMENT AND ALL ANNEXES TO IT;

– FILLING IN VALID AND ACTUAL INFORMATION INCLUDING THE AUTHENTIC LOGIN, E-MAIL ADDRESS, PASSWORD IN THE REGISTRATION FORM, LOCATED IN THE “LOGIN” TAB ON THE ADDRESS https://bitzlato.com/auth/login;

ATTENTION: IF YOU DO NOT AGREE TO THE TERMS AND CONDITIONS OF THIS USER AGREEMENT, PLEASE DO NOT REGISTER AND DO NOT USE THE EXCHANGE SERVICE ON THE HTTPS://BITZLATO.COM/.

Bitzlato and a third party using the Exchange service located on the Internet at HTTPS://BITZLATO.COM/ entered into this User Agreement on such conditions.

1. TERMS AND DEFINITIONS

In this Agreement, the terms listed will have the following meanings, unless otherwise indicated in the text:

“Agreement” is a User Agreement.

“Account” – a functional part of the System designed to account for User Funds and operations with them.

“The policy of counteracting the legalization of proceeds of crime” is a program to prevent money laundering from criminal activities and in connection with the financing of terrorism, which is an integral part of the Agreement, the text of which is available on the website at: https://bitzlato.com/anti-money-laundering-policy-and-know-your-client-policy/.

Cryptocurrency is a peer-to-peer electronic currency that does not have a single centralized issuer and is distributed directly between holders of such currency.

“Deal” – an agreement on the alienation of rights to the Cryptocurrency concluded between Bitzlato Users.

“Deposits” – a transaction related to the transfer of Funds to the Account.

“Bitzlato” is Bitzlato limited, a legal entity registered under Hong Kong law, located at UNIT 617, 6 / F, 131-132 CONNAUGHT ROAD WEST, SOLO WORKSHOPS, HONG KONG, including without limitation employees, officers, directors and shareholders, affiliates of Bitzlato limited.

“Exchange rate” – the ratio between the number of Funds and the price offered by the User for the Funds Exchange Transaction.

“Fees” – payments in favor of Bitzlato, paid by the parties to the transaction and prices for additional services offered by Bitzlato, which are constantly posted at: https://bitzlato.com/price/“Fiat currency” – money issued by the state, defined at the legislative level as legal tender in the country of issue.

“Funds” – Cryptocurrency used in the execution of deal.

“Order” – the offer of the User to conclude a deal on certain conditions.

“Parties” – Bitzlato and Users.

“Personal Account” – a set of protected pages created as a result of the User’s registration in the System, using which the User can place Orders for further deals, as well as give other orders to the System provided for by this Agreement.

The Personal Account displays information on placed and canceled Orders, completed Transactions, information on the funds available to the User in Cryptocurrency and other information determined by the functionality of the Site.

“Privacy Policy” – the rules for the collection, storage, dissemination and protection of personal data received by Bitzlato from Users, which are an integral part of the Agreement, the text of which is available at: https://bitzlato.com/policy/.

“Site” – a combination of information, texts, graphic elements, design, images, photos and video materials and other results of intellectual activity, as well as a set of computer programs contained in the information system that ensure the availability of such information at HTTPS://BITZLATO.COM/ .

“Services” is all and any of the Services provided by Bitzlato.

“System” – a set of software and hardware used by Bitzlato in automatic mode to process operations performed by the User in his Personal Account.

“User” is an individual capable of using the Site and / or the System in accordance with local law and has entered into an appropriate Agreement with Bitzlato.

“Account data” – User data necessary to enter the System and use it – login, password, email address and other data specified during and after registration in the System.

“Withdraw funds from the account” – the operation to withdraw funds from the user’s account.

All other terms and definitions that appear in the text of the Agreement are interpreted by the Parties in accordance with the laws of Hong Kong and in accordance with the usual rules of interpretation of the relevant terms that have developed on the Internet.

The names of the headings (articles) of the Agreement are indicated solely for the convenience of using the text of the Agreement and have no literal legal value.

2. SUBJECT OF THE AGREEMENT

In accordance with this Agreement, Bitzlato provides the User with the following:

  • access to the System for deals;
  • access to the Account in the System;

provides information necessary for using the System and conducting Transactions.

Depending on the location of the User, the User may not be able to use all the functions of the Site. The User is solely responsible for observing the relevant rules and laws in force at the place of his / her residence and / or in the territory on which the User receives access to this Site.

The User confirms and agrees that when executing deals, he / she makes them with another User, and Bitzlato is not a party to such a transaction.

The integral and essential parts of this Agreement are the sections on the Privacy Policy, Anti-Money Laundering Policy and fees.

3. ACCESS TO THE SYSTEM, REGISTRATION

Bitzlato provides the User with access to information about the System, about the Course offered by other Users, about concluded Transactions and about placed Orders until the end of the registration process.

In order to gain access to the System, the User needs to register, after which the User will be given access to the Personal Account created on the basis of the Account Data.

The user must set the password during registration. The user can change the password at any time after the registration process is completed. The User is obliged to ensure the safety and security of the password and Account Data from access to them by third parties, while the User independently determines the procedure for saving this information and takes measures to prevent their discreditation. In case of loss or discrediting of the password and / or Account Data, as well as in the event that third parties obtain illegal access to the Personal Account, the User is obliged to immediately inform Bitzlato Technical Support Service (https://support.bitzlato.com/en-RU/support/home). Until the moment Bitzlato receives such a message, all actions performed using the User’s Personal Account will be considered committed by the User as the owner of the Account.

A user may have only one Personal Account and may not use two or more Personal Accounts. Such actions are considered a violation of the Agreement.

4. ACCOUNT

After registration in the System, the User gets access to his Account and Personal Account. The user can carry out operations using his account and personal account, as well as instruct the system to perform operations on the account in an automatic manner.

Bitzlato indicates in the User’s Personal Account the information necessary to replenish the Account and withdraw funds from the Account.

To replenish the Account, the User needs to transfer Funds according to the details specified by Bitzlato in the User’s Personal Account. At the same time, the User independently pays all commissions and fees associated with the transfer of funds, and also assumes the risks associated with indicating the incorrect details when making the transfer.

The account is considered replenished at the time of crediting the corresponding amount of funds to the User’s Account.

Bitzlato undertakes to accept Cryptocurrencies from Users, store them, keep records, carry out operations with them on behalf of the User and present Cryptocurrencies to the User at his request.

Unless otherwise provided by the Agreement or other agreements between the Parties, Bitzlato shall not accept any orders to perform any operations on the User Account from third parties.

Any Funds credited to the Account belong to the User. Bitzlato may, without a User’s order, block Funds credited to the Account or debit Funds from the Account only in cases stipulated by the Agreement.

The User confirms and agrees that deposits and withdrawals of the Funds may be delayed due to the specifics of the cryptocurrency networks. The User acknowledges and agrees that the deposit and withdrawal of Cryptocurrencies to / from his Account may take from one (1) hour to seventy two (72) hours, not including incidents of unforeseen or imminent network problems.

In the event that the User detects suspicious transactional activities, including, but not limited to, unknown deposits and withdrawals of Funds to / from his / her Account that were not initiated by the User, the User must immediately notify Bitzlato (https://support.bitzlato.com/ru-RU/support/home) and follow the instructions sent to him by Bitzlato. Otherwise, Bitzlato reserves the right to freeze the balance of the Funds in the Account until the end of the investigation.

5. PROCESS OF DEALS (ORDERS)

Deals in the System are concluded on the basis of Orders placed by Users and in accordance with the conditions determined by the Parties on the basis of the preliminary conditions for the onerous alienation of rights to the Cryptocurrency. At the same time, Bitzlato, under no circumstances, is a party of the deal. All deals are concluded between Users with information mediation of Bitzlato.

The User acknowledges that he must place an Order only after careful consideration, understanding and acceptance of the consequences of its execution.

Bitzlato charges Users a fee for making deals. The size of the fees is determined on the basis of Tariffs.

To place an Order, the User must deposit the Account for the amount specified in the Order and fill out the appropriate form on the page of the currency pair.

The User’s order is registered in the System after checking the availability of a sufficient number of Funds in the Account. Bitzlato controls the ability of Users to enter into deals and, thus, increases the trust of Users to each other and reduces the risk of default by the User of obligations under deals. The System does not register an Order if the amount of Funds in the Account is not enough to make a deal.

The user can cancel the order until it is fully executed.

The published Order is available to all Users until it is fully executed or canceled. A placed Order is a User’s offer to conclude a deal.

A deal on a placed Order is concluded if the System registers a counter Order placed by another User. Counter Orders are orders with the same Exchange rate but reverse direction. Registration by the Counter Order System is considered acceptance of the offer by the User. An order is deemed executed from the moment of registration by the Counter Order System.

An order may be partially executed.

The transaction on the Order is carried out by transferring the relevant Funds indicated in counter orders to the User Account. Transfer of the specified Funds is made by the System automatically. Moreover, the actions of the System are considered to be those that were taken on behalf of the Users.

Such actions as placing Orders, their recall, conclusion and execution of Transactions are displayed in the User’s Personal Account.

Information on completed deals is available to all Users on the Site during the period determined by Bitzlato.

6. TYPES OF ORDERS

Simple buy order

  • A Simple Purchase Order is understood to mean a User’s offer to purchase a certain amount of Funds at the Rate established by the User.
  • To place a Simple Order, the User must fill out the appropriate form indicating the number of Funds the User intends to purchase and the rate.
  • A simple buy order can be executed at a lower rate than indicated in the placed Order. An Order cannot be executed at a Rate that exceeds that specified in the placed Order.

Simple Sell Order

  • A simple sell order is understood as the offer of the User to sell a certain number of Funds at the rate established by the User.
  • To place a Simple Order for sale, the User must fill out the appropriate form indicating the number of Funds that the User intends to sell and the established Rate.

Market price buy order

  • A Buy Order at a market price means an offer by the User to purchase a certain amount of Funds without specifying a Rate.
  • To place a Purchase Order at a market price, the User must fill out the appropriate form, indicating the number of Funds that he intends to buy.
  • The execution of the Order will occur at the lowest rate found among Orders placed by other Users.

Market Price Sell Order

  • A Sell Order at a market price means an offer by the User to sell a certain number of Funds without specifying a Rate.
  • To place an order to sell at a market price, the User must fill out the appropriate form, indicating the number of Funds that he intends to sell.
  • The execution of the Order will occur at the highest Rate found among Orders placed by other Users.

7. IDENTIFICATION AND PREVENTION OF THE ILLEGAL USE OF THE SITE AND THE SYSTEM

The User is prohibited from making deals bypassing the order processing procedure by sending personal messages or other features of the Site and / or System. If one of the participants in the correspondence reports such a fact, the messages lose their personal status and will be available to moderators and administrators.

The User is prohibited from using the Site and / or the System in any other way than is provided for by the Agreement, in particular, the User is not entitled to place advertisements on the Site, unless the Parties have concluded an additional agreement on this.

The user is prohibited from using the Site and / or the System for any illegal purposes, including the laundering of money obtained by criminal means, the financing of terrorism, and the implementation of extremist activities.

8. RISK WARNING

The user guarantees that he / she knows the basic principles of working with Cryptocurrencies, as well as the characteristics of Cryptocurrencies that affect their value and he / she is also aware of the risks associated with this:

Price Fluctuation: The price of cryptocurrencies is extremely volatile. It is characterized by sharp jumps in price due to unexpected events or changes in market sentiment.

Charges and expenses: Charges and expenses may include spread, fees payment expenses.

Price transparency: Compared to fiat money, there may be a more significant fluctuation in the price of the Cryptocurrencies used to determine the value of the User’s position. There is a high probability that the User will not receive a fair and accurate price for the underlying cryptocurrency when trading.

The user must participate in trade transactions if he / she has the full knowledge of financial markets and fully understands the risks associated with Cryptocurrencies.

The user guarantees that he has the right to perform operations with Cryptocurrencies, as well as that he / she is fully capable.

The User understands that Bitzlato in no way affects the Course set by the Users, does not give any recommendations regarding the determination of the Course and does not make predictions about rates. The user is responsible for all economic risks associated with the selection of a particular Course. Bitzlato does not guarantee that the Transaction will be completed and that its conditions will be beneficial to the User.

The user understands that Bitzlato has nothing to do with operations and / or transactions with the Cryptocurrency, therefore the Service does not accept responsibility to give any guarantees regarding the terms and / or the possibility of performing certain operations and / or transactions with the Cryptocurrency for making Transactions.

The User understands that all operations with Cryptocurrencies are irreversible and that the Funds received as a result of the Transaction can be returned only on the basis of a separate additional agreement with another User.

9. INTELLECTUAL PROPERTY AND RESTRICTIONS WHEN USING THE SITE AND THE SYSTEM

The Site and the System contain intellectual property results owned by Bitzlato, its affiliates and other related parties, sponsors, partners, representatives, all other persons acting on behalf of Bitzlato, and other third parties.

Using the Site and the System, the User acknowledges and agrees that the content of the Site and the structure of the content of the Site are protected by copyright, the right to a trademark and other rights to the results of intellectual activity, and that these rights are valid and protected in all forms, on all media and in relation to all technologies, both currently existing and those developed or created subsequently. No rights to the content of the Site and the System are transferred to the User as a result of using the Site and System or entering into an Agreement.

In order to avoid misinterpretation and, accordingly, violations, the User is prohibited from:

copy and / or distribute any intellectual property objects posted on the Site and / or in the System, except when such a function is expressly assumed by the working conditions on the Site and / or in the System;

copy or otherwise use the software of the Site and / or System, as well as their design;

post on the Site and / or in the System personal data of third parties without their consent;

change in any way the software part of the Site and / or System, take actions aimed at changing the functioning and operability of the Site and / or System;

use abusive and violating the rights and freedoms of third parties and groups of persons words as a login (nickname, pseudonym) during registration.

10. RESPONSIBILITY OF THE PARTIES

In case of violation by the User of the terms of the Agreement, Hong Kong law, moral standards, or in case of conspiracy with other Users to violate the terms of the Agreement, Bitzlato has the right to block or delete the User’s Personal Account, prohibit or restrict access to certain or all functions of the System through his / her her personal account.

In case Bitzlato detects a violation by the User of section 7 of the Agreement, Bitzlato has the right to delete the User’s Personal Account and demand damages.

Bitzlato is not responsible for the operation of the Site and / or the System and does not guarantee its uninterrupted operation. Bitzlato also does not guarantee the safety of information posted on the Site and / or in the System, and also does not guarantee the possibility of uninterrupted access to information about Orders and completed Transactions, the possibility of placing Orders and concluding Transactions.

The User uses the Site and the System in the form in which they are presented at his own risk. Bitzlato does not guarantee the User to achieve any results due to the use of the Site and / or System.

Bitzlato does not guarantee that the Site and the System meets the requirements of the User, nor does it guarantee constant, fast, safe and error-free access to the Site and / or the System.

11. SPECIAL CONDITIONS

The Site and the System may contain links to other sites on the Internet (third-party sites). These third party sites and their content are not checked for compliance with certain requirements (reliability, completeness, legality, etc.). Bitzlato is not responsible for any information, materials posted on third party sites that the User accesses through the use of the Site and / or System, as well as responsibility for any opinions or statements expressed on third party sites, advertising and for the availability of such sites or the possible consequences of their use by the User.

Bitzlato has the right to transfer rights to claims for all obligations arising from the Agreement. By accepting the terms of this Agreement, the User gives his consent to the transfer of claim rights to any third parties. In case of transfer of claim rights and / or debts, Bitzlato will inform the User by posting relevant information on the Site and / or in the System.

Due to the nature of operations, Bitzlato does not apply a refund policy.

Performing the operation, the User agrees and independently bears all the risks of the deals. Bitzlato will not be liable for any cancellation of the deals. Bitzlato does not accept or process requests from anyone to return and / or cancel a deal.

12. WARRANTIES

Neither Bitzlato nor its affiliates make any specific promises regarding the operation of the Site and / or the System. For example, Bitzlato does not undertake any obligations regarding the content of the Site, specific functions of the System or their reliability, availability or ability to satisfy the needs of the User. Bitzlato provides the Site and the System “as is” (without warranty).

To the extent permitted by law, Bitzlato excludes any warranties, sureties, conditions, representations and obligations.

13. LIMITATION OF LIABILITY

To the extent permitted by law, neither Bitzlato, nor its affiliates, nor suppliers or distributors of Bitzlato will be liable for lost profits, revenues, financial losses, indirect, special, indirect, approximate losses.

To the extent permitted by law, the total liability of Bitzlato, its affiliates, as well as suppliers and distributors is limited to the amount that the User paid to Bitzlato for all services provided within (one) month before the event that caused the liability.

Bitzlato, its affiliates, as well as suppliers and distributors will not be liable for any costs, losses or damages that cannot be foreseen in advance.

14. COMPENSATION FOR DAMAGES

The User agrees to protect, indemnify and protect Bitzlato, its affiliates and their respective employees, officers, directors and shareholders from any losses claimed by a third party as a result of the User’s actions in violation of this Agreement. The user agrees to protect, indemnify and protect Bitzlato, its affiliates and their respective employees, officers, directors and shareholders from all and any losses from property damage resulting from bodily harm, death or other injuries resulting from negligence or inappropriate the behavior of the User or any person for whom the User is legally liable.

In any case, the party claiming compensation must immediately send a written notice to the person from whom the compensation is required, and will cooperate with the other party regarding the protection of such an action or claim. Failure to provide or delay in the provision of such notice does not limit the rights of the party from which compensation is required, except to the extent that compensation is required. The party from which compensation is required has the right, at its own expense, to initiate any legal proceedings or negotiations and the settlement of any such claim or claim. The party from which compensation is required is not liable for any settlements made without its consent or for any fees or expenses incurred by the other party after the Party from which compensation is required commenced the settlement of the dispute in court.

15. DISPUTE RESOLUTION

The parties will endeavor to resolve all disputes, disagreements and claims that may arise in connection with the execution, termination or cancellation of this Agreement through negotiations. The party with which the claims arose sends a notification to the other Party indicating the claims and / or disagreements that have arisen.

A party that has not fulfilled its obligations under this Agreement shall immediately rectify the violation and shall take appropriate measures to eliminate the consequences. Any dispute arising out of or in connection with this Agreement (including a dispute regarding the existence, validity and termination of this Agreement or the consequences of its invalidity) shall be referred and finally resolved by the arbitration in accordance with the procedure at the location of Bitzlato.

In the event of any disputes regarding the execution or interpretation of this Agreement, which cannot be resolved peacefully or by arbitration, the Company has the right to demand the settlement of the dispute in the Court of Bitzlato’s location.

16. AMENDMENT OF THE AGREEMENT

The Service has the right to unilaterally amend the terms of the Agreement, Privacy Policy, Tariffs. Such changes shall enter into force 3 (three) days after the publication of a new version of the relevant documents.

At each subsequent visit to the Site before using the Personal Account, the User agrees to get acquainted with the new version of the Agreement, Privacy Policy, Rates. Continued use of the Site and the System will mean the User agrees to the terms of the new version of the relevant documents.

If the User does not agree with the terms of the new version of the Agreement, Privacy Policy, Tariffs, he / she must stop using the Site, closing deals with other Users.

17. FINAL PROVISIONS

Except in cases: expressly provided for by the Agreement and the current legislation of Hong Kong, all notifications, messages and documents regarding the fulfillment by the Parties of the obligations arising from the Agreement shall be sent and considered received by the Parties if they are sent by e-mail from an authorized address of one of the Parties to an authorized address the other side. Authorized addresses are:

for the user: the email address specified in the User’s Personal Account;

for Bitzlato: [email protected]

Bitzlato and all legal relations in connection with it are governed by the laws of Hong Kong without regard to its conflict of laws rules. All disputes arising are resolved in accordance with Hong Kong law.

Recognition by a court of a provision of the Agreement invalid or not enforceable does not entail the invalidity of the remaining provisions of the Agreement, which remain valid and are enforceable.