1. Introduction
By accessing our platform, or using any of our services, you agree to comply with the terms provided below:
If you do not agree to these Terms or any part of them, you shall not register for an account, access the platform, or use the Services.
2. About Us
Ubit Coin stands as a prominent player in the realm of decentralized finance (DeFi) cryptocurrencies, firmly entrenched within the Ubit Blockchain - UBIT 20 ecosystem and is launched under the stewardship of Ubit Coin. Ubit Coin's unique allure lies in its capacity to facilitate seamless cross-chain operations for its holders.
The Ubit Coin works on a "transfer to a null address" phenomenon i.e., specifically 0x0000000000000000000000000000000000000000, solidifying Ubit Coin as a truly decentralized digital asset. This means that no individual or entity can edit the code, modify transaction fees, block addresses, or rescue tokens.
3. Terms of Service
By registering for Ubit Coin account, you are entering into a legally binding agreement with us. These Terms govern your use of Ubit Coin services and explain who we are, how we will provide our services to you, how these Terms may be updated or terminated, what to do if there is an issue, and other important information.
You must carefully read these Terms, along with the documents referenced within them. If there is anything you do not understand, please contact us for clarification. If local laws or regulations apply to your use of Ubit Coin such local terms will take precedence.
- 3.1. Additional Documents
These Terms refer to several other documents that are also relevant to your use of Ubit Coin services. These include but are not limited to :
- a. Risk Warning: This contains critical information regarding the risks involved in buying, selling, holding, or investing in digital assets.
- b. By using Ubit Coin services, you acknowledge and agree to comply with any additional relevant terms and conditions that apply
4. Eligibility and Account Registration
By registering for an account, you confirm that you:
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4.1. Are at least 18 years old (or the minimum legal age in your jurisdiction) and legally capable of entering into binding agreements.
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4.2. Will provide accurate, complete, and current information for registration and will update it promptly if it changes.
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4.3. Are solely responsible for securing your account credentials, and any activity that occurs under your account is your responsibility.
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4.4. We reserve the right to suspend or terminate accounts that we suspect to be in breach of these Terms or involved in illegal activities.
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4.5. We reserve the right to modify our eligibility criteria at any time, at our sole discretion. While we will make every effort to notify you in advance of any changes, there may be instances where we need to make adjustments without prior notice. This could occur in situations where:
- a) The change is required due to legal or regulatory developments;
- b) The change benefits or protects your interests; and/or
- c) There is another valid reason that prevents us from providing advance notice.
5. Use of Services
Our platform provides users with access to cryptocurrency trading, holding, and related services. Your use of the platform is subject to compliance with all applicable laws, regulations, and these Terms.
You acknowledge and agree that:
- Any information or communication provided by us is not intended to be construed as advice.
- You are responsible for assessing whether trading, holding, or investing in digital assets is appropriate based on your financial
situation and risk tolerance.
- You shall conduct thorough research, consult professionals, and make independent decisions before engaging in any transactions on
the platform.
6. Risk Warning
- 6.1. The value of digital assets, including cryptocurrencies, can be highly volatile. Significant fluctuations in value may occur
at any time, and there is a substantial risk of financial loss when buying, selling, holding, or investing in digital assets. You shall
carefully assess whether trading or holding digital assets is appropriate for you in light of your financial circumstances, risk
tolerance, and investment goals.
- 6.2. We strongly recommend that you:
- Understand the nature of digital assets and the inherent risks.
- Conduct thorough research and perform your own due diligence before engaging in any transaction on our platform.
- Seek professional advice from a qualified financial advisor if needed.
- 6.3. Please be aware that digital asset markets are subject to a variety of risks, including but not limited to regulatory changes,
technical issues, security vulnerabilities, and unpredictable market dynamics. Both parties acknowledge that in the unlikely event
these factors result in losses, neither party shall be held liable. You further understand that you may lose the entire value of your
investment, and by engaging in digital asset transactions, you accept these inherent risks.
7. OUR OBLIGATIONS
- 7.1. Our role is strictly limited to providing access to a platform for trading and holding digital assets. We are not your broker, intermediary, agent, or financial advisor and have no fiduciary responsibility to you regarding your investment decisions. Any information, communication, or materials provided by us, whether on our platform or through customer support, shall not be interpreted as investment, legal, or tax advice.
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7.2. It is solely your responsibility to determine the suitability of any investment, strategy, or transaction in digital assets based on your personal financial situation and objectives. We make no recommendation that any digital asset shall be bought, sold, or held by you, and we are not liable for any losses or damages arising from your decisions to engage in these activities.
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7.3. By using our services, you acknowledge and accept that:
- The risk of trading or holding digital assets is high.
- You are fully responsible for your own decisions and any associated risks.
- We are not liable for any financial losses, damages, or liabilities you may incur as a result of your use of our platform or
services.
- 7.4. Before participating in the digital asset markets, ensure you fully understand the risks involved.
8. Information About Your Account
- 8.1. Account Creation
- To access Ubit Coin services, you must open and maintain an account. We reserve the right to refuse any account application or limit the number of accounts you may hold, at our sole discretion.
- 8.2. Identity Verification
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You must comply with our identity verification processes to open and use an account, providing accurate and up-to-date information. We may verify your identity, or that of Permitted Users, through third-party inquiries to prevent fraud, money laundering, and other financial crimes.
We may request additional documentation, records, or meetings as part of our enhanced due diligence requirements.
9. Accessing Your Account
- 9.1. Account Access
- To access your account, you or your Permitted Users will need the appropriate equipment and internet access. Access methods,
including multi-factor authentication, will be communicated to you. Only use the access credentials provided by us.
- 9.2. Third-Party Restrictions
- You must ensure your account is used only by you or your Permitted Users, in accordance with these Terms.
10. Account Information and Transaction Records
- 10.1. Account History
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You can view your transaction history through the platform. If you notice any discrepancies or unrecognized transactions, notify us within 14 days.
- 10.2. Error Correction
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We may correct errors in your account history at any time. In the case of manifest errors or improper intent, we reserve the right to cancel or amend transactions and reverse any asset transfers as necessary.
- 10.3. Information Sharing
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We may share account and transaction information with third parties or affiliates as required by law. For details on how we handle personal data, please review our Privacy Notice.
11. Privacy and Data Protection
- 11.1. Privacy Policy
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By using this Platform, you consent to our collection, use, and sharing of your personal information as described in our Privacy Policy. We take reasonable measures to protect your personal data but do not guarantee its absolute security.
- 11.2. Data Retention
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We retain personal data for as long as necessary to comply with legal obligations, including record-keeping requirements for tax, AML, and KYC purposes.
12. Transactions
- 12.1. Initiating Transactions
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You may engage in transactions either directly with us or with other users, facilitated by our platform or otherwise. We do not guarantee the successful completion of any transaction or that it will be processed within a specific timeframe.
- 12.2. Unauthorized Transactions
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You are solely responsible for managing access to and usage of your Ubit account. We will assume that any instruction or transaction made through your account has been authorized by you or a Permitted User, unless notified otherwise. It is crucial to regularly monitor your account activity and report any unauthorized or suspicious actions promptly. We are not liable for losses or claims arising from transactions made due to unauthorized instructions unless you have notified us in line with this clause, and our investigation confirms that neither you nor a Permitted User authorized the instruction in any way, including by mistake, negligence, or fraud, and the unauthorized transaction is solely the result of a technical fault on our end.
- 12.3. Transaction Record Retention
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For compliance purposes and to meet global data retention standards, you agree that we may (but are not obligated to) retain a
record of all transaction data for the duration of your account's existence, or as required by applicable law.
13. Intellectual Property
All content provided on the Platform, including logos, trademarks, software, and proprietary information, is the property of the Platform or its licensors. You may not reproduce, distribute, or use any of this content without prior written permission.
14. Scope and Nature of Our Responsibilities
You acknowledge and agree that our relationship with you, the services we provide, or any other engagement between us does not impose any special obligations or duties on us or any Ubit affiliate, unless explicitly stated in these Terms. This includes any legal, fiduciary, or equitable responsibilities. You understand that Ubit and its affiliates may simultaneously act in multiple roles, including as service providers or facilitators, where we may receive compensation, fees, or commissions from various users or parties involved in transactions, including yourself. You agree that our ability to act in multiple capacities and to serve multiple parties, including our affiliates, does not create any conflict of interest or breach of duty. Additionally, you consent to our continued ability to provide services, execute transactions, and conduct business in these varied roles without any obligation to prioritize your interests over others unless otherwise stipulated in these Terms.
15. Decentralized Cryptocurrency Disclaimer Clause
15.1. No Central Authority: Ubit Coin operates without any centralized control or governance. There is no central authority, entity, or party responsible for its management, regulation, or oversight.
15.2. No Contracts or Covenants: By participating in this system, you acknowledge that there are no formal contracts, agreements, or covenants between you and any party regarding the use, management, or operation of Ubit Coin. All actions you take within the system are done at your sole discretion and without the promise or guarantee of any outcome.
15.3. Individual Risk and Peril: All decisions, transactions, and interactions you make within Ubit are at your own risk and peril. You are solely responsible for your use of the system, including any potential financial, legal, or technical risks. There is no recourse, indemnity, or protection available to you from any third party, platform operator, or developer of the cryptocurrency.
15.4. Irreversible Nature of Transactions: All transactions conducted within this system are final and irreversible. You bear full responsibility for the consequences of each transaction, including loss of assets, security breaches, or any negative outcomes that may arise.
15.5. No Warranties or Liabilities: The decentralized cryptocurrency system is provided "as-is" with no warranties of any kind, express or implied, including but not limited to the security, functionality, or continuity of the system. No party involved in the development or operation of the system is liable for any losses or damages you may incur.
16. Limitation of liability
Unless otherwise required by law, under no circumstances shall the owners, contributors, or affiliates of the Website be liable for any type of damages, including but not limited to, loss of use, loss of profits, loss of data, or any other consequential, incidental, direct, indirect, or punitive damages, whether in contract, tort (including negligence), breach of duty, or otherwise, arising from or in connection with your use of, or inability to use, the Website or any services, products, or content provided through it.
This includes, but is not limited to, damages arising from:
- Personal injury, pain, or suffering;
- Emotional distress;
- Loss of revenue, business, or anticipated savings;
- Loss of goodwill, data, or information;
- Business interruptions;
- Any other intangible losses or damages.
Neither the its affiliates, licensors, service providers, employees, agents, officers, directors, nor any third parties linked to the Website shall be held responsible for any losses or damages that arise out of the use of, or reliance on, the Website or any linked external websites, including content, services, or items accessed through these platforms.
This limitation applies even if the damages were foreseeable or if the parties have been advised of the possibility of such damages.
17. Disclaimer of Warranties
Your use of the Website, its content, and any services or items obtained through it is at your own risk. We also do not warrant that the Website or its content will be error-free, uninterrupted, or free of harmful components, nor that it will meet your expectations. We expressly disclaim all warranties, whether express or implied, including but not limited to warranties of merchantability, non-infringement, and fitness for a particular purpose. We do not guarantee that files available for download from the internet or the Website will be free from viruses or harmful code.
18. Indemnification
You agree to indemnify, defend, and hold harmless Ubit its affiliates, licensors, service providers, and each of their respective officers, directors, employees, contractors, agents, and assigns from and against any and all claims, damages, liabilities, losses, costs, and expenses (including reasonable attorneys' fees) arising out of or related to:
- Your use of, or inability to use the services provided by Ubit.
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Any violation of these Terms of Use, including any misrepresentation or breach of warranties or obligations you make under these Terms.
- Any unauthorized or unlawful use of your account or any activity carried out under your account by a third party.
- Your violation of any applicable laws, rules, or regulations relating to cryptocurrency transactions.
- Any claims arising from transactions, investments, or activities involving Ubit Coin made through our platform or services,
including claims related to fraud, hacking, or technical failures.
This indemnification obligation will survive the termination or expiration of these Terms of Use and your use of the cryptocurrency services.
19. Modifications to Terms
We may amend these Terms from time to time. Any changes will be posted on our website, and your continued use of the Platform after such changes are posted will constitute your acceptance of the revised Terms.
20. Contact Information
For any questions regarding these Terms, please contact us
