Terms of Service
- These are the terms and conditions of an agreement (the “Agreement”) between Ching-Wha! Ltd. (“Binary Bitcoin”) a company incorporated under the International Business Companies Act of 2016 of the Republic of Seychelles with company number 1934787 (“we”, “our”, “us”), who is the owner and operator of https://binarybitcoin.io, a platform which allows you to trade, amongst other products, Digital Options on Cryptocurrencies (the “Platform”) and each member of the Platform (“you”, “your”).
- Please ensure you download and store a copy of this Agreement for your records.
- “Account” means the online registration you have with us, which is created when you register on the Platform
- “Binary Bitcoin” means the digital asset which we support on the Platform.
- “Eligibility Criteria” means such criteria as set out at clause 2;
- “Options Trade” or “Order” means an executed Digital Options trade on the platform;
- “Platform” means the trading platform published by us from time to time, including without limitation the trading platform at https://binarybitcoin.io and/or any of our subdomains;
- “Standard Account” means the default Account that requires no KYC apart from email address;
- “User” means any member of the Platform.
To use the Platform, you must be either:
- an individual aged 18 years or older; or
- a legal person (e.g. company or partnership)
- In addition, you must warrant that:
- using Binary Bitcoin’s services does not constitute a breach of your home jurisdictions’ laws;
- you are aware of the risks in using the services provided by Binary Bitcoin.. These risks include the high volatility risk of Binary Bitcoin itself, the fact that you may lose all of the funds in your Digital Options trading if the market moves against you;
- you will not be involved or initiate any form of market manipulation;
- you are the legal owner of the funds you add to your account with Binary Bitcoin and that the same funds derive from a legitimate source;
any Binary Bitcoin withdrawal address you provide is your own and that you have full control over this
address; In order to confirm your eligibility, we may have to conduct certain checks and request certain
documents from you before you can access the Platform. You must give us information we reasonably ask you
for, and you must fully and truthfully answer any questions we may reasonably ask you in order to complete
- You must inform us as soon as reasonably practicable if you cease to meet the eligibility criteria set out in this clause.
- We reserve the right to suspend or revoke your access to the Platform at any time without prior notice to you. If we suspend your profile, your Account or terminate your access to the Platform.
- To use the Platform, you must be either:
REGISTRATION / VERIFYING YOUR IDENTITY
- If you wish to place an Options Trade or Order, and provided you meet the Eligibility Criteria, you will first be required to register as a User. You can open a Standard Account by providing your email address.
- Binary Bitcoin reserves the right to verify your identity and/or the identity of your legal entity at any time for the purposes of complying with the Seychelles’ Anti-Money Laundering Act 2017.
- We may suspend any Account in the event that we suspect or have reason to believe you are engaged in suspicious trading or other activity or have breached any of the above warranties. In the event that we request additional information about you, we may suspend your Account until you provide this information to us and we will not be liable to you for any losses that result from such suspension. If you do not cooperate with our requests for further information or documentation during the suspension of your Account, we reserve the right to keep your Account in suspension indefinitely or to terminate your Account.
- If we are satisfied that you comply with all applicable requirements, we will provide you with a verified account to access the Platform. For the avoidance of doubt, we may refuse to grant a verified account to any person without stating a reason.
DEPOSITS AND WITHDRAWALS
- Once we have opened a Standard Account for you and this Standard Account has been activated, you will be able to deposit Bitcoin only into your Standard Account by sending it to the address we provide you with.
- Any Bitcoin you send in accordance with clause 4.1 will be held within a storage solution managed by us and is not insured against loss.
- You shall be permitted to withdraw Bitcoin credited to your Account on the Platform by making a withdrawal instruction via the Platform.
- Where a withdrawal instruction is received by us in respect of Bitcoin, we shall credit such Bitcoin to the Bitcoin wallet you nominated on registration or subsequently agreed with us.
- You warrant that you own and are fully responsible for any Bitcoin wallet you have notified to us for the purposes of receiving Bitcoin withdrawn from the Platform.
- You warrant that you own and are fully responsible for any Bitcoin wallet you use for the purposes of sending Bitcoin deposited to the Platform. If you receive a deposit that you did not initiate, you must inform us at the first available opportunity after becoming aware of the deposit.
- We cannot reverse a Binary Bitcoin transaction which has been sent to a Binary Bitcoin network.
- We may suspend any deposit or withdrawal instruction without stating a reason. In the event that we request additional information about the transaction, we may suspend your deposit or withdrawal instruction until you provide this information to us and we will not be liable to you for any losses that result from such suspension.
- You acknowledge that deposited and traded Bitcoin may be co-mingled with those of other Customers of Binary Bitcoin in the Client Account.
- You acknowledge that Binary Bitcoin is under no obligation to pay interest on any funds held on your behalf in any account.
- You may not use the Platform to store, send, request, or receive Cryptocurrencies (or other digital assets) which are not expressly supported by the Platform. If you attempt to send a transfer to our Platform of a Coin which is not supported by us, we are under no obligation to return such Coin to you.
- All payments made to us under this Agreement are to be made in full without any set-off, counterclaim or deduction whatsoever.
We shall make payments to you in full unless:
- it is or will be owed amounts which are incurred in respect of transfer charges that may be levied; or
- you owe us amounts in respect of other Orders or Commission which have not been settled in accordance with this Agreement.
TRADING ON THE PLATFORM
- Prior to making any Order, you must have credited Bitcoin to your Account. We shall not permit any Order to be placed until Bitcoin has been deposited to the notified address, and cannot accept responsibility for any delay in trading or subsequent withdrawal due to the late arrival of such funds.
- If you have a sufficient balance of Bitcoin in your Account you will be able to trade.
- To open or close a trade on the Platform, you must submit an Order. We are under no obligation to accept any Order submitted by you, and we maintain discretion over whether any order is accepted or executed.
- We shall at all times be entitled to operate on the basis that each Order is correct and does not contain any errors (including in the case of manifest errors).
NO FINANCIAL ADVICE
- We may in our sole and absolute discretion from time to time provide you with information on practical aspects of using the Platform.
- Notwithstanding any such information provided by Us, you acknowledge and agree that you enter into each Order of your own free will without reliance on any information provided by us and that such Order is at your own risk. You shall not be entitled to rely on Us for advice on the timing or terms of any Order. /li>
WARRANTIES AND REPRESENTATIONS
You warrant that:
- you have full legal capacity to enter into this Agreement;
- all Bitcoin deposited into your Account derive from legitimate/legal sources;
- using the Platform does not infringe any local laws of your country of residence;
- if you are an individual, you are not acting on someone else’s behalf;
- you only will apply for a single Account with us;
- if you are a company, you are authorised to transact on behalf of your legal entity; and
- you understand the risks associated with trading Digital Options.
- You warrant that:
- By using the Platform, you agree not to upload, post, email or otherwise send or transmit any material that contains viruses, Trojan horses, worms or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment associated with the Platform.
- You agree and undertake to keep your username and password confidential, not to disclose your password to any other person and not to permit any other person to log in to the Platform using your username and password. If you choose to share your credentials with a third party, you do so at your own risk.
- You agree not to interfere with the servers or networks connected to the Platform or to violate any of the procedures, policies or regulations of networks connected to the Platform, including this Agreement.
You also agree not to:
- attempt to reverse engineer or sell, export, license, modify, copy, distribute or transmit the Platform to any third party, or jeopardise the correct functioning of the Platform, or otherwise attempt to derive the source code of the software (including the tools, methods, processes and infrastructure) that enables or underlies the Platform;
- attempt to gain access to secured portions of the Platform to which you do not possess access rights;
- impersonate any other person while using the Platform;
- conduct Yourself in a vulgar, offensive, harassing or objectionable manner while using the Platform;
- use the Platform to generate unsolicited advertisements or spam; or
- use any automatic or manual process to search or harvest information from the Platform, or to interfere in any way with the proper functioning of the Platform.
To protect the Platform we reserve the right to:
- request from you proof of source of funds;
- confirm your control of your Bitcoin address;
- monitor the activity of your account and transaction / usage behaviour both on and off the Platform
- suspend your Account due to repetitive losses and to assess the appropriateness of the Platform for you;
- suspend your Account due to suspected misuse of the Platform by you.
- To protect the Platform we reserve the right to:
- Ching-Wha! Ltd is the sole owner of the Platform, which includes any software, domains, and content made available through the Platform.
- The Binary Bitcoin brand, its graphics, logos, icons and service names related to the Platform and the Platform are protected by Seychelles copyright and other intellectual property laws. Without limitation, this means that you may not sell, export, license, modify, copy, distribute or transmit the Platform (or any part of it) or any material provided through the Platform without our prior express written consent.
- Any unauthorised use of the Platform will result in the automatic termination of the limited license granted by us. We reserve the right to terminate the limited license without notice at any time following an unauthorised use by you of the Platform.
- All other trademarks not owned by Ching-Wha! Ltd that appear in connection with the Platform are the property of their respective owners, who may or may not be affiliated with, connected to or sponsored by Ching-Wha! Ltd.
- Whilst we have implemented commercially reasonable technical and organisational measures to secure your personal information from unauthorised use, we cannot guarantee that unauthorised third parties will never be able to defeat those measures. You acknowledge that you provide your personal information at your own risk.
- By downloading and/or using the Platform and/or viewing Orders and/or making any Orders through the Platform, you consent to receiving electronic communications and notices from Binary Bitcoin you agree that any notice, agreement, disclosure or other communications that we send to you electronically will satisfy any legal communication requirements, including that such communications be in writing.
- You agree to indemnify and hold Binary Bitcoin and its related companies, and each of their respective shareholders, directors, officers, employees, agents and merchant partners harmless from and against any third-party claim or cause of action, including reasonable attorneys’ fees and court costs, arising, directly or indirectly, out of your breach of these Terms and Conditions and/or your violation of any law or the rights of any third party.
NO WARRANTY AND LIABILITY LIMIT
- The Platform is provided on an “as available,” “as is” basis. To the maximum extent permitted by law, we and our suppliers and vendors disclaim all warranties with respect to the platform, including, but not limited to, the implied warranties of non-infringement, title, merchantability, quiet enjoyment, quality of information, and fitness for a particular purpose. We do not warrant that the Platform will meet your requirements, that you will be able to place Orders through the Platform, or that the operation of the Platform will be uninterrupted or error-free, or that defects in the Platform will be corrected. No oral or written information or advice given by us shall create any additional warranties or in any way increase the scope of our obligations. You assume all responsibility for determining whether the platform or the information generated thereby is accurate or sufficient for your purposes.
- We reserve the right to deliver the Platform and to process Orders in our sole and absolute discretion, including the right to refuse to execute Orders, cancel or reverse already executed Orders in case of manifest or obvious error.
- In no event shall our shareholders, directors, officers, employees or agents be liable (jointly or severally) to you for loss of use or any special, incidental, direct, indirect or consequential damages arising out of or in connection with the Platform, the placement by you of any Order, the delivery of any Bitcoin, the failure in whole or in part of the Platform or to deliver any Bitcoin or this Agreement, on any theory of liability, and whether or not advised of the possibility of damage.
- Notwithstanding the foregoing, the entire liability for us and each of our affiliates, suppliers and vendors (collectively) under this agreement for all damages, losses (including trading losses), and causes of action, whether in contract, tort (including negligence), or otherwise shall be limited to an amount equal to US$1.00.
- We do not seek to exclude liability for death or personal injury caused by our negligence, or fraud or fraudulent misrepresentation on our part.
- This Agreement has no fixed or minimum duration and can be ended by you or us. You can end it at any time by emailing us at firstname.lastname@example.org.
- We may terminate this Agreement (and close your Account) at any time and for whatever reason upon giving you 7 days’ notice.
We may terminate this Agreement (and close access to your Account) immediately if:
- you are in breach of this Agreement;
- if we reasonably suspect criminal or fraudulent activity; and
- we would break the law by continuing this Agreement.
- If we terminate this Agreement, we’ll tell you our reasons for doing so (unless the law prevents us from doing so).
- Upon termination, your right to trade will be cancelled.
- You are not permitted to assign, transfer, charge, sub-contract or deal in any other manner with all or any of Your rights under these Terms of Service without our prior express written consent. We may assign any of our rights and (with your consent) our obligations under this Agreement.
- This Agreement is between you and us. No person shall have any rights under or connection with this Agreement under the Contracts (Rights of Third Parties) Act 1999.
- The parties agree that we shall perform our duties under this Agreement as an independent contractor. Nothing contained herein shall be deemed to establish a partnership, joint venture, association, or employment relationship between the parties. Personnel employed or retained by us who perform duties related to this Agreement shall remain under our supervision, management, and control.
- If any court or competent authority decides that any term of this Agreement is held to be invalid, unlawful or unenforceable to any extent, such term shall, to that extent only, be severed from the remaining terms, which shall continue to be valid to the fullest extent permitted by law.
- Headings are for reference purposes only and in no way define, limit, construe or describe the extent or scope of such section.
- Our failure to enforce any term of this Agreement shall not constitute a waiver of that or any other provision and will not relieve you from the obligation to comply with such provision.
- We will send you notices to the email address you provided in your Account. These will be deemed to be delivered to you if we do not receive a failed delivery message. You must send your notices to email@example.com.
- We shall not be in breach of this Agreement nor liable for delay in performing, or failure to perform, any of our obligations under this Agreement if such delay or failure result from events, circumstances or causes beyond our reasonable control.
- This Agreement set forth the entire understanding and agreement between you and us with respect to the subject matter hereof.
- This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the laws of the Republic of Seychelles.
- You irrevocably agree that the courts of the Republic of Seychelles shall have exclusive jurisdiction to settle any dispute or claim that arises out of or in connection with this Agreement or their subject matter or formation (including non-contractual disputes or claims).