By accessing or using the Service you agree to be bound by these Terms. If you disagree with any part of the terms then you may not access the Service.
We operate under the regulatory supervision of ARIF Genf (Member No.:pending), a self-regulating body approved by the Swiss Financial Market Supervisory Authority (FINMA) for the supervision of the financial intermediaries referred to in article 2 para. 3 of the Swiss Federal Law on combating money laundering and terrorism financing in the financial sector (AMLA). We are not subject to direct FINMA supervision, regulatory issues should be addressed to ARIF.
We are not a bank and, as such, is not part of a depositor protection scheme.
References to ChainXstate are also references to its owners, directors, investors, employees.
We allow buyers (“Buyers”) and sellers (“Sellers”) to use its Payment Institution capabilities to buy and sell cryptocurrecies such as Bitcoins.
The Service operated by us allows all customers of the Service (“Members” or “Clients”) to:
- Buy and Sell Bitcoin or other crypto assets and/or token, as available (herein “Bitcoin” or “cryptocurrency”).
- Transfer cryptocurrency and fiat currency to other Members and to non-members who must become Members prior to withdrawing such cryptocurrency or fiat money.
- We intend to allow Members to buy Buy and Sell cryptocurrencies and crypto tokens of any kind.
IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE OUR SERVICE.
By registering for an Account, you expressly represent and warrant:
The trading of goods and products, real or virtual, as well as virtual currencies involves a significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency, virtual or not, may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling, or trading anything on a market.
Trading cryptocurrencies also has special risks not generally shared with official currencies, goods, or commodities in a market. Unlike most currencies that are backed by governments, other legal entities, or commodities such as gold or silver, cryptocurrencies are a unique type of Internet digital currency, backed by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of cryptocurrencies in a crisis.
Instead, cryptocurrecies are an as-yet autonomous and largely unregulated global system of firms and individuals. Traders put their trust in a digital, decentralised, and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
The trading of cryptocurrecies is often susceptible to irrational bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in cryptocurrecies because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.
We use our banking providers in order to receive client funds and make payments. Our banking providers DO NOT transfer, exchange, or provide any services in connection with cryptocurrecies.
Limited Right of Use
Unless otherwise specified, all Materials on this Site are our property and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, and/or non-commercial use, provided you comply with all copyright and other proprietary notices.
The trademarks, service marks, and our logos and others used in this Site (“Trademarks”) are our property and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Site belongs to us. 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 Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorised use may violate copyright, trademark, and other applicable laws, and could result in criminal or civil penalties.
Maintaining Your Account: ChainXstate Rules
The creation or use of Accounts without obtaining our prior express permission will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software, or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and we may elect to take further action against you.
You are also responsible for maintaining the confidentiality of your Account information, including your password, and safeguarding your account and all activity including Transactions that are posted to your Account. Cryptocurrency transactions are irreversible once sent, so be sure to carefully confirm the receiving address before initiating a Bitcoin transaction. Any actions on the Site, transactions, orders and operations initiated from your Account or using your password (1) will be considered to have been made by you, and (2) is irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify us immediately of any unauthorised use of your Account or password, or any other breach of security, by email to [email protected] The account of any Member who violates these rules may be terminated and the Member held liable for losses incurred by us or any user of the Site.
Lastly, you agree that you will not use the Service to perform criminal activity of any sort, including but not limited to money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity.
The minimum allowable buy or sell is EUR 5.
Our fees charged can be found on our Fees page.
VERIFICATION OF ACCOUNTS
Upon termination, your right to use the Service will immediately cease. If you wish to terminate your account, you may simply discontinue using the Service.
Availability of Services
All services are provided without warranty of any kind, either express or implied, and in particular without implied warranties of merchantability and fitness for a particular purpose. We do not guarantee that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible, but there are no guarantees that access will not be interrupted or that there will be no delays, failures, errors, omissions, or loss of transmitted information.
APIs and Widgets
We may provide certain parties with access to specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and un-altered state.
We make no representations whatsoever about any external or third-party website you may access through the Site. Occasionally, our website may provide references or links to other websites (“External Websites”). We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from our website, including but not limited to website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities and advertisements, services, or actions, and/or any damages, losses, failures, or problems caused by, related to, or arising from those sites. You shall bear all risks associated with the use of such content.
Our business model and Service is to facilitate, through our Payment Services license, the buying and selling of cryptocurrecies. We are an authorized member firm of Association Romande des Intermédiaires Financiers (“ARIF”) (Member No.: pending), and as such is supervised by ARIF in its capacity as an SRO officially recognized by the Swiss Financial Market Supervisory Authority (FINMA), with dual supervision pursuant to (1) independent asset management and; (2) the Anti-Money Laundering Act (AMLA). The rules of professional conduct of ARIF regulate the content of the asset management agreement and how it must be implemented (asset manager’s duty of trust, information and due diligence towards the customer and regulation of the asset manager’s compensation), with due attention aid to the protection of investors. Regulatory issues regarding us should be addressed to ARIF.
Disclosures to Legal Authorities and Authorized Financial Institutions
We may share your Personal Data with law enforcement, data protection authorities, government officials, and other authorities when:
- Required by law;
- Compelled by subpoena, court order, or other legal procedure;
- We believe that disclosure is necessary to prevent damage or financial loss;
- Disclosure is necessary to report suspected illegal activity; or
If we hold cash or crytocurrency, and we are unable to contact you and have no record of your use of our Services for several years, applicable law may require us to report the cash or crytocurrency as unclaimed property to the authorities in certain jurisdictions. We will try to locate you at the address shown in our records, but if we are unable to, we may be required to deliver any such cash or crytocurrency to the authorities in certain jurisdictions as unclaimed property. We reserve the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.
Limitation of Liability
Subject to the foregoing, our aggregate liability for claims based on events arising from or in connection with any single Member’s use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) 100% of the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
Your use of the Service is at your sole risk. The Service is provided on an “AS IS” and “AS AVAILABLE” basis. The Service is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, non-infringement or course of performance.
We, our subsidiaries, affiliates, and its licensors do not warrant that a) the Service will function uninterrupted, secure or available at any particular time or location; b) any errors or defects will be corrected; c) the Service is free of viruses or other harmful components; or d) the results of using the Service will meet your requirements.
Modification of Terms
Bitcoins. The Peer-to-Peer Internet digital currency further described at Bitcoin.org.
Cryptocurrecies. All digital currencies, including but not limited to Ethereum.
Cryptotokens. All digital tokens, including but not limited to ChainXstate token
Buyer(s). Member(s) that are submitting an offer to buy cryptocurrency through the Service.
Commission or Fee. Refers to the fee which is payable to us on each Transaction, such as a buy or sell of cryptocurrency. You can review our Fees on our Fees page.
Member(s). Refers to Buyers and Sellers as well as any holder of an Account.
Personal Data. Information that identifies an individual, such as name, address, e-mail address, trading information, and banking details. “Personal Data” does not include anonymised and/or aggregated data that does not identify a specific user.
Price. The “price per coin” for which Members are willing to purchase or sell cryptocurrecies, using the Service in a purchase or sell transaction. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Service. See our Site for a full list of currencies.
We may not offer currencies other than Euros at this time.
Seller(s). Member(s) that submit an offer to sell cryptocurrecies through the Service.
Service(s). The technological platform, functional rules, and market managed by us. to permit Sellers and Buyers to purchase and sell cryptocurrecies.
Transaction. Includes the following:
- The action between the Member to Buy and/or Sell cryptocurrencies through the Service for currencies at the then-current market rate.
- The transfer of cryptocurrencies between Members (“Transfer Transaction”);
- The transfer of cryptocurrecies among Members (“Transfer Transaction”);
- The transfer of currencies among Members (“Currency Transfer Transaction”); and
- We may not offer all these transaction types at this time.
We may not offer all these transaction types at this time.
Transaction Price. The total price paid by the Buyer for each Transaction performed through the Service.
By continuing to access or use our Service after those revisions become effective, you agree to be bound by the revised terms. If you do not agree to the new terms, please stop using the Service.
Unencrypted email messages sent over the Internet are not secure and we are not responsible for any damages incurred as a result of sending email messages in this way. We suggest existing Members always log in to our site and use the internal support messaging system by clicking “Support” in the footer menu or, for non Members, always send email in encrypted formats. You are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request. Please never send us or anyone else your password by email.
If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels and you hereby accept the risks associated therewith.
We will never contact you from an email account that does not end with @chainxstate.com. If anyone, including a person that you know to be associated with us ever contacts you via email with an address that does not end with @chainxstate.com, please notify our compliance department at [email protected] immediately.