Acceptance of Terms ofUse
As used herein, “HYPEX“ refers to thecompany Hyperchain Technology Pty. Ltd. and https://hypex.io, including withoutlimitation thereby, its owners, directors, investors, employees or otherrelated parties. Depending upon context, “HYPEX” may also refer to theServices, products, Site, content or other materials (collectively, “Materials”)provided by HYPEX.
The Service operated by HYPEX allows Buyersand Sellers, to buy and sell cryptocurrencies with each other. The Serviceoperated by HYPEX also allows all registered users of the Service (“Members”)to transfer cryptocurrencies to other Members or other users of cryptocurrenciesoutside the Site.
By opening an account to use the Service (“Account”),You expressly represent and warrant:
User’s Obligations andAcknowledgements
You acknowledge that once an Instruction isplaced it is irrevocable, and once a Transaction is matched, it will proceedimmediately to settlement and delivery through the Platform. You acknowledgethat, when a Transaction is entered, HYPEX sends and receives cryptocurrencyfrom the buyer’s and the seller’s respective Accounts.
It is your responsibility and you undertake toensure that you hold sufficient cryptocurrencies in its Account to meet yoursettlement obligations and any other liabilities arising from any Transaction,including Fees payable on the Account.
You represents and warrants that:
· you will only operate an Account and use HYPEX to perform tradesof cryptocurrencies for the purposes and in accordance with the conditions setforth in these Terms;
· you are duly authorized and has the capacity to provide each Instructionand enter into each Transaction on HYPEX;
· you will comply with all applicable laws of Australia and anyother jurisdiction in which or from which it seeks to operate its Account, giveinstructions or enter Transactions;
· all amounts deposited into its Account (other than throughTransactions), comes from legal sources which you own or otherwise has fulllegal authority to deal with; and
· your use of HYPEX, provision of Instructions or entering anyTransaction does not infringe the rights of any third party or any applicablelaw.
You will not:
· use HYPEX to perform any illegal activity of any sort,including, but not limited to, money laundering or terrorism financing; or
· use HYPEX to perform payment of any ransomware, including, butnot limited to cryptolocker; or
· give any Instruction or enter any Transaction or do or undertakeany other activity, whether or not through HYPEX, which would or may negativelyaffect the performance of the Platform or the reputation of the Company.
You confirm that in using HYPEX and holdingand transacting in cryptocurrency, you have considered the risks posed by suchactions, including the risks that:
· The value of cryptocurrency may rise or fall
· The value of cryptocurrency will be affected by factors outsideof the control of HYPEX
· Cryptocurrency may not be transferrable or accepted for transferby any third party
· Cryptocurrency may not be accepted as payment for goods andservices by any person
You are responsible for any tax liabilityarising from its holding or Transactions in cryptocurrency and will indemnifythe Company where the Company is obliged to pay tax on behalf of you in respectof your Account or any cryptocurrency held, or bought or sold by you.
The trading of goods and products, real orvirtual, as well as cryptocurrency involves significant risk. Prices can and dofluctuate on any given day. Due to such price fluctuations, you may increase orlose value in your assets at any given moment. Any currency or commodities -virtual or not - may be subject to large swings in value and may even becomeworthless. There is an inherent risk that losses will occur as a result ofbuying, selling or trading anything on a market.
HYPEX cannot cancel or reverse anycryptocurrency Transactions, as long as they are accepted and confirmed on thenetwork. Once submitted to the network, cryptocurrency Transactions are subjectto verification for a period of time, awaiting confirmation by the network. ATransaction is not complete until this verification has been complete, andTransactions will not be reflected in Your HYPEX account balance untilcomplete.
Cryptocurrency trading also has special risksnot generally shared with official currencies or goods or commodities in amarket. Unlike most currencies, which are backed by governments or other legalentities, or by commodities such as gold or silver, cryptocurrency is a uniquekind of currency, based by technology and trust. There is no central bank thatcan take corrective measure to protect the value of cryptocurrency in a crisisor issue more currency.
Cryptocurrency trading is probablysusceptible to irrational (or rational) bubbles or loss of confidence, whichcould collapse demand relative to supply. Confidence might also collapse becauseof factors within cryptocurrency such as technical problems. IE: If theintegrity of the system is compromised, if money is lost or stolen, or ifhackers or governments are able to prevent any Transactions from settling.
You should carefully assess whether yourfinancial situation and tolerance for risk is suitable for buying, selling ortrading cryptocurrency.
Limited Right of Use
Unless otherwise specified, all Materials on thisSite are the property of HYPEX and are protected by copyright, trademark andother applicable laws. You may view, print and/or download a copy of theMaterials from this Site on any single computer solely for Your personal,informational, non-commercial use, provided You keep intact all copyright andother proprietary notices.
The trademarks, service marks and logos ofHYPEX and others used in this Site (“Trademarks”) are the property of HYPEX andtheir respective owners. The software, text, images, graphics, data, prices,trades, charts, graphs, video and audio used on this Site belong to HYPEX. TheTrademarks and Material should not be copied, reproduced, modified,republished, uploaded, posted, transmitted, scraped, collected or distributedin any form or by any means, whether manual or automated. The use of any suchMaterials on any other Site or networked computer environment for any otherpurpose is strictly prohibited; any such unauthorized use may violatecopyright, trademark and other applicable laws and could result in criminal orcivil penalties.
This Site is for your personal andnon-commercial use only. We are vigilant in maintaining the security of ourSite and the Service. By registering with us, you agree to provide HYPEX withcurrent, accurate, and complete information about yourself as prompted by theregistration process, and to keep such information updated. You further agreethat you will not use any Account other than your own, or access the Account ofany other Member at any time, or assist others in obtaining unauthorisedaccess.
The creation or use of Accounts withoutobtaining the prior express permission from HYPEX will result in the immediatesuspension 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 thedistribution of instructions, software or tools for that purpose, will resultin the Accounts of such Members being terminated. Termination is not theexclusive remedy for such a violation, and HYPEX may elect to take furtheraction against You.
You also are responsible for maintaining theconfidentiality of Your Account information, including your password,safeguarding your own cryptocurrency, and for all activity includingTransactions that are posted to Your Account. If there is suspicious activityrelated to Your Account, we may, but are not obligated, to request additionalinformation from you, including authenticating documents, and to freeze anyTransactions pending our review. You are obligated to comply with thesesecurity requests, or accept termination of Your Account. You are required tonotify HYPEX immediately of any unauthorized use of Your Account or password,or any other breach of security by email addressed to firstname.lastname@example.org. AnyMember who violates these rules may be terminated, and thereafter held liablefor losses incurred by HYPEX or any user of the Site.
You must not use this Site or Services in anyway that causes, or may cause, damage to the Site, our Services or the businessof HYPEX, including undertake any act or omission that causes, or may cause,disruption or impairment to the availability or accessibility of the Site orour Services; If You become aware, or should reasonably be aware, of anyrequest or demand made of You to engage in any act or conduct by which You or athird party gains unfair or undue financial or other advantage, including butnot limited to dishonest or corrupt conduct, or any conduct in breach of anyanti-corruption law applicable to the Site or our Services, then You mustpromptly report any such circumstances, act or conduct to us in writing.
You must not use this Site to copy, store,host, transmit, send, use, publish or distribute any material which consists of(or is linked to) any spyware, computer virus, Trojan horse, worm, keystrokelogger, rootkit or other malicious computer software.
You must not conduct any systematic orautomated data collection activities (including without limitation scraping,data mining, data extraction and data harvesting) on or in relation to thisSite without prior written notification and obtaining our express writtenconsent.
You must not intentionally or unintentionallyuse TOR or any other anonymous network or protocol to access the Site or ourServices. Any user found or suspected of doing so will be marked as suspiciousand possibly denied access.
You must agree not to access our Site orServices by any means other than the interfaces we provide for use in accessingthem.
Finally, You agree that You will not use theService to perform criminal activity of any sort, including but not limited to,money laundering, illegal gambling operations, terrorist financing, ormalicious hacking.
HYPEX reserves the right to requestidentification information (such as driver’s license, identity card, invoices,government issued photographic identification, utility bills, residentialcertificate, signed certification of cohabitation, or similar, bankinginformation) depending on the amounts requested through our Service or anyapparent suspicious activity which may indicate money-laundering or otherillegal activity. Identification of the bank account to or from which funds aretransferred may also be requested. In certain cases notarization of certaindocuments may be requested. Transactions may be frozen until the identity checkhas been considered satisfactory by HYPEX as required by applicable moneylaundering laws.
HYPEX may request additional identificationinformation at any time at the request of any competent authority or byapplication of any applicable law or regulation. HYPEX may also make enquiriesusing third parties to verify your identity and / or your account details. HYPEXaccepts no responsibility for any loss or damages if you provide us with anywrong or false information, including but not limited to, incorrect wallet IDs.HYPEX has no responsibility for ensuring that a third party you are dealingwith will or is authorised to complete the Transaction. HYPEX has no controlover or liability for the delivery, quality, safety, legality or any otheraspect of any goods or services that you may purchase or sell to or from athird party. If there are any problems with the way in which a third party hastransacted with you, or has provided services to You, You must handle themdirectly with that third party.
You may terminate this agreement with HYPEX,and close Your Account at any time, following settlement of any pendingTransactions.
You also agree that HYPEX may, by givingnotice, in its sole discretion terminate Your access to the Site and to YourAccount, including without limitation, our right to: limit, suspend orterminate the Service and Members' Accounts, prohibit access to the Site andits content, Services and tools, delay or remove hosted content, and taketechnical and legal steps to keep Members off the Site if we think that theyare creating problems or possible legal liabilities, infringing the intellectualproperty rights of third parties, or acting inconsistently with the letter orspirit of these terms.
Additionally, we may, in appropriatecircumstances and at our discretion, suspend or terminate Accounts of Membersfor any reason, including without limitation:
· attempts to gain unauthorized access to the Site or anotherMember’s Account or providing assistance to others' attempting to do so,
· overcoming software security features limiting use of orprotecting any content,
· usage of the Service to perform illegal activities such as moneylaundering, illegal gambling operations, financing terrorism, or other criminalactivities,
· failure to pay or fraudulent payment for Transactions,
· unexpected operational difficulties, or
· upon the request of law enforcement or other governmentagencies, if deemed to be legitimate and compelling by HYPEX, acting in itssole discretion.
We also reserve the right to cancelunconfirmed Accounts or Accounts that have been inactive for a period of 6months or more, and/or to modify or discontinue our Site or Service. Membersagree that HYPEX will not be liable to them or to any third party fortermination of their Account or access to the Site.
The suspension of an Account shall not affectthe payment of the commissions due for past Transactions. Upon termination,Members shall communicate a valid wallet address to allow for the transfer ofany cryptocurrencies credited to their account. HYPEX shall transfer thecurrencies as soon as possible following the Member’s request in the timeframes specified by HYPEX. We will use reasonable efforts to ensure that suchcharges are disclosed to you prior to sending your payment, however where theycannot be avoided, you acknowledge that these charges cannot always becalculated in advance, and that you agree to be responsible for such charges.
Ownership ofCryptocurrency on Site
Hyperchain Technology Pty Ltd makes noownership claims of the cryptocurrencies transferred to our Site for use of ourServices. All cryptocurencies are still under the wilful ownership of theMembers and only held in trust on behalf of the User for the ability to accessour Services.
HYPEX may connect to other exchanges toprovide more volume to an order book. Some trades may be executed with traderson other exchanges. In this case HYPEX acts as agents to fulfil all orderexecution responsibilities and will pay all relevant fees. All Price shown onHYPEX’s order book are inclusive of all relevant fees.
Paid commissions totraders
At HYPEX’s discretion, we may pay traders afee when using limit orders. This is to incentivize more volume on the orderbook. Payments will be credited to trader’s account.
APIs and Widgets
We may provide access to certain parties toaccess specific data and information through our API (Application ProgrammingInterface) or through widgets. We also may provide widgets for your use to putour data on Your Site. You are free to use these in their original unmodifiedand un-altered state.
External Web Sites
HYPEX makes no representations whatsoeverabout any other Site which you may access through this Site. The Site mayprovide links or other forms of reference to other websites (“External WebSites”) or Resources over which we do not have control (“External Web Sites”).In such case you acknowledge that HYPEX is providing these links or referencesto you only as a convenience.
HYPEX is not responsible for the availabilityof, and content provided on, third party Sites. You are requested to review thepolicies posted by other Sites regarding privacy and other topics before use.
HYPEX is not responsible for third partycontent accessible through the Site, including opinions, advice, statements,prices, activities and advertisements, and you shall bear all risks associatedwith the use of such content. It is up to you to take precautions to ensurethat whatever you select for your use is free of such items as viruses, worms,Trojan horses and other items of a destructive nature.
Our business model, and our Service, consistsof facilitating the buying, selling and trading of cryptocurrencies and theiruse to purchase goods in an unregulated, international open payment system.
Email messages sent over the Internet are notsecure and HYPEX is not responsible for any damages incurred by the result ofsending email messages over the Internet. We suggest sending email in encryptedformats; you are welcome to send PGP encrypted emails to us. The instructionsand keys to do so are available upon request.
To the extent permitted by law, HYPEX will notbe held liable for any damages, loss of profit, loss of revenue, loss ofbusiness, loss of opportunity, loss of data, indirect or consequential lossunless the loss suffered arising from negligence or willful deceit or fraud.Nothing in these terms excludes or limits the liability of either party forfraud, death or personal injury caused by its negligence, breach of termsimplied by operation of law, or any other liability which may not by law belimited or excluded.
The content on our Site is provided forgeneral information only. It is not intended to amount to advice on which youshould rely. You must obtain professional or specialist advice before taking,or refraining from, any action on the basis of the content on our Site.
To the extent permitted by law, we exclude allconditions, warranties, representations or other terms which may apply to ourSite, or any content on it, and / or to the Services, whether express orimplied.
HYPEX will not be liable to you (whether underthe law of contact, the law of torts or otherwise) in relation to the contentsof, or use of, or otherwise in connection with, this Site and / or theServices:
· for any use of, or inability to use, our Site and / or theServices;
· for any use of or reliance on any content displayed on our Site;
· for any indirect, special or consequential loss; or
· for any business losses, loss of revenue, income, profits oranticipated savings, loss of contracts or business relationships, loss ofreputation or goodwill, or loss or corruption of information or data.
These limitations of liability apply even if aloss was foreseeable, or if HYPEX has been expressly advised of the potentialloss.
We will not be liable for any loss or damage causedby a virus, distributed denial-of-service attack, or other technologicallyharmful material that may infect Your computer equipment, computer programs,data or other proprietary material due to Your use of our Site or to Yourdownloading of any content on it, or on any website linked to it.
We assume no responsibility for the content ofwebsites linked on our Site. Such links should not be interpreted asendorsement by us of those linked websites. We will not be liable for any lossor damage that may arise from your use of them.
Subject to the foregoing, HYPEX’s aggregateliability in respect of claims based on events arising out of or in connectionwith any single Member’s use of the Site and/or Service, whether in contract ortort (including negligence) or otherwise, shall in no circumstances exceed thegreater of either
1. the total amount held on Account for the Member making a claimless any amount of Withdrawal Fees; or
2. 100% of the amount of the Transaction(s) that are the subject ofthe claim less any amount of Commission that may be due and payable in respectof such Transaction(s)
This Site is provided ‘as is’ without anyrepresentations or warranties, express or implied. HYPEX makes norepresentations or warranties in relation to this Site or the information andmaterials provided on this Site.
Without prejudice to the generality of theforegoing paragraph, HYPEX does not warrant that: this Site will be constantlyavailable, or available at all; or the information on this Site is complete,true, accurate or non-misleading.
Any part of this Site constitutes, or is meantto constitute, advice of any kind. If you require advice in relation to anylegal or financial matter you should consult an appropriate professional.
Indemnity (vs limitationof liability)
We each acknowledge that, in entering intothese terms, we do not rely on, and shall have no remedies in respect of, anystatement, promises, assurances, warranties, representations or understandings(whether oral or written, and whether made innocently or negligently) made byor on behalf of the other that are not set out in these terms.
We each agree that we shall have no claim forinnocent or negligent misrepresentation based on any statement in these terms,save that nothing in these terms shall limit or exclude any liability forfraud.
Modification of Terms
HYPEX reserves the right to change, add orremove portions of these terms, at any time, in an exercise of its solediscretion. You will be notified of any changes in advance through YourAccount. Upon such notification, it is your responsibility to review theamended terms. Your continued use of the Site following the posting of a noticeof changes to the terms signifies that you accept and agree to the changes, andthat all subsequent transactions made by you will be subject to the amendedterms.
Please check this page from time to time totake notice of any changes we made, as they are binding on you.