Terms of Service

These Terms of Service is an electronic agreement between you the User and LXCCoin LTD LXCCoin that applies to the use of this website, all services, products and content provided by LXCCoin. Please read these Terms of Service carefully before agreeing to them.

By accepting these Terms of Service, you agree with and accept all policies published on this website.

Definitions

  • "Account" means an account registered by the User on the Swypto Exchange.
  • "Crypto currency" means peer-to-peer decentralized digital representation of for example LXCCoins (XWBC), Bitcoins (BTC) or other digital currencies.
  • "Buyer" means the User who submits an Order to buy crypto currencies.
  • "Seller" means the User who submits an Order to sell crypto currencies.
  • "Fiat currency" means government issued currency, that is designated as legal tender in its country of issuance.
  • "Services" means all services provided by LXCCoin.
  • "Transaction" means (a) transfer of crypto currencies or Fiat currencies by the User to his/her Account (Deposit transaction), (b) transfer of crypto currencies among Users (Transfer Transaction), (c) withdrawal of crypto currencies or Fiat currencies from his/her Account (Withdrawal Transaction) or (d) buying/selling crypto currencies from/to other Users (Trading).
  • "Transaction fee" means a fee which is payable to LXCCoin for each completed Transaction.
  • "Order" means a User’s instruction to buy or sell crypto currency.

Scope of Services

The Services allow all Users of Swypto Exchange to trade crypto currencies with other Users.

The User acknowledges and agrees that, when completing Transfer or Trading Transactions, he/she is dealing directly with other Users, and that LXCCoin acts only as an intermediary in such Transactions, not as counterparty to any trade.

User's rights and responsibilities

The User has the right to enter and use Swypto Exchange and the Services, as long as he/she agrees to and actually complies with the Terms of Service. By using Swypto Exchange, the User agrees to accept and comply with the terms and conditions stated herein.

The User agrees that, whenever the Transaction is made, Swypto Exchange sends and receives the monetary sums and/or crypto currencies from the Buyer’s and the Seller’s Accounts in their name and on their behalf, through Swypto Exchange.

The User undertakes to read the entire Terms of Service carefully before using Swypto Exchange or any of the services provided by LXCCoin.

The User undertakes to comply with any and all applicable laws and regulations related to the use of the Services.

The User undertakes to monitor all and any changes on his/her Account, including but not limited to the balance matters.

The User undertakes to immediately (i.e. right after discovering) inform LXCCoin about any unusual, suspicious, unclear or abnormal changes on his/her Account. In case of late informing or non-informing the User will be liable for the breach of the Terms of Service and LXCCoin will have the right to take any further steps accordingly, including but not limited to report to the relevant authorities.

The User undertakes to notify LXCCoin immediately of any unauthorized use of his/her Account or password, or any other breach of security by email. Any User who violates the mentioned rules may be terminated, and thereafter held liable for losses incurred by LXCCoin or any user of Swypto Exchange.

The User undertakes not to use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.

The User is responsible for any and all damages caused and all liability actions brought against LXCCoin for infringement of third party rights or violation of applicable laws.

Nothing in the Terms of Service excludes or limits the liability of the User for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.

Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.

By registering an Account, the User expressly represents and warrants that he/she, follows the rules and laws in his/her country of residence and/or country from which he /she accesses the Swypto Exchange, has accepted these Terms of Service and is at least 18 years of age and has the right to accept these Terms of Service and participate in transactions involving crypto currencies.

The User represents and warrants that he will only use Swypto Exchange to perform Transactions in accordance with the conditions set forth in these Terms of Service and that he/she are duly authorised and have the capacity to enter into the Transactions on Swypto Exchange.

The User represents and warrants that both Fiat currency and crypto currency deposited to the Account belong to the User and are derived from legal sources.

The User represents and warrants that all Transactions being carried out do not violates the rights of any third party or applicable laws.

The User undertakes to pay all his taxes and duties, which can be resulted from the use of LXCCoin Services and should be paid according the User’s country of residence. LXCCoin is not responsible for any violation made by the User due to his obligation to calculate and pay taxes and duties.

User verification

The verification procedure for new users or transactions is determined by LXCCoin and may vary from transaction to transaction.

You undertake to provide LXCCoin with correct and relevant documents and personal information contained therein. In case the User provides counterfeit documents and false personal information, such behavior will be interpreted as a fraudulent activity.

You hereby authorise LXCCoin to, directly or indirectly (through third parties) make any inquiries we consider necessary to check the relevance and accuracy of the information provided for verification purposes.

LXCCoin's rights and responsibilities

LXCCoin has the right to suspend User’s Account and block all crypto currency, Fiat currency contained therein, in case of non-fulfilment or unduly fulfilment of the Terms of Service by the User.

LXCCoin’s responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the crypto currency transferred. When initiating crypto currency transactions to a user who is not the LXCCoin User, LXCCoin's responsibility shall be further limited to ensuring the transfer of the necessary technical data to the crypto currency network.

To the extent permitted by law, LXCCoin is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of the Terms of Service by LXCCoin.

LXCCoin is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection, or any reason why our site is unavailable at any given time.

In the case of fraud, LXCCoin undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. Users recognize that their account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.

Nothing in these terms excludes or limits the responsibility of LXCCoin for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not be limited or excluded by law.

LXCCoin's representations and warranties

LXCCoin shall provide the Services with reasonable care and skill and in accordance with these Terms of Service.

All buy and sell orders made on Swypto Exchange, will be managed in an anonymous manner so that Buyers and Sellers are not acquainted with each other. The Transaction Price is calculated on the basis of actual matched orders made by Buyers and Sellers participating in the bidding process on Swypto Exchange combined with the applicable Transaction fees.

LXCCoin represents and warrants that once the orders to buy or sell crypto currencies match, such orders may not be cancelled or reversed. It holds all crypto currencies transferred and acquired by each User in his/her Account and on the respective User's behalf.

Limitation of liability

In no even shall LXCCoin, its officers, directors, employees, agents and all third party service providers, be liable to you or any other person or entity for any direct, indirect, incidental, special, punitive or consequential damages, losses or transactions whatsoever, no matter how or where they result from.

LXCCoin will not be liable for Transactions, initiated by the User, below prescribed limits, as stated in clause 10.10 hereof.

Intellectual property rights

All content on this Site is the property of LXCCoin and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby.

The trademarks, trade names, service marks and logos of LXCCoin and others used on Swypto Exchange (hereinafter the “Trademarks”) are the property of LXCCoin and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to LXCCoin. The Trademarks and other content on Swypto Exchange should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from Swypto Exchange on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.

Account maintenance

LXCCoin has the security of Swypto Exchange and maintenance of all services as top priority at all times. By registering with LXCCoin, the User agrees to provide LXCCoin with current, accurate, and complete information about him/herself as prompted by the registration process, and is responsible for always keeping such information updated.

The User agrees that he/she will not use any Account other than his/her own, or access the Account of any other User at any time, or assist others in obtaining unauthorized access.

LXCCoin reserves the right to adjust limits for each Account without prior notice.

If there is suspicious activity related to the User’s Account, LXCCoin may request additional information from the User, including authenticating documents, and freeze the Account for the review time. The User is obligated to comply with these security requests, or accept termination of his Account.

In case the User discovers transaction activity, including but not limited to unknown deposits and withdrawals, on his/her Account that was not initiated by the User, the User shall immediately notify LXCCoin of this fact and follow the instructions sent by LXCCoin. Otherwise, LXCCoin reserves the right to freeze the Account until the end of investigation.

Transactions

Swypto Exchange allows the User to submit Orders to purchase or sell crypto currencies as well as transfering the same to other Users.

The User agrees that as soon as an Order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the Buyer's and the Seller's Orders, without prior notice to the Seller and the Buyer, and will be considered to have taken place at the execution date and time.

Minimum and maximum order amount vary for each trading pair, and can be seen on the Trade Page when placing an Order.

The User acknowledges and agrees that Deposit and Withdrawal Transaction in Fiat currency may in rare cases be delayed due to bank verifications, for a period up to one (1) month. Similarly and due to the inherent nature of the crypto currency networks, the User acknowledges and agrees that depositing and withdrawing crypto currencies into/from his/her Account may take between one (1) minute and twenty-four (24) hours, barring unforeseen or unavoidable network issues.

LXCCoin may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement of such Transactions. In such cases the User obliges to cooperate with LXCCoin in order to discover the reasons for such request.

Transaction fees

The User agrees to pay LXCCoin the Transaction fee for each completed Transaction.

Transaction fee amount is automatically charged off in the currency of the transaction taking place and will always be visible before any transaction is concluded. Hence by accepting an order the transaction fee is also accepted.

Minimum and maximum price, as well as minimum and maximum order amount vary for each trading pair, and can be seen on the Trade Page when placing an order.

The Transaction fee, other charges, as well as the charge procedure can be changed/reviewed by LXCCoin at any time and shall become effective the moment they are posted on Swypto Exchange.

Termination

The User may terminate and close his Account at any time, following settlement of any pending transactions.

The User also agrees that LXCCoin may, by giving notice, in its sole discretion terminate his access to Swypto Exchange and to his Account, including without limitation, our right to: limit, suspend or terminate the service and Users' Accounts, prohibit access to Swypto Exchange and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Users off Swypto Exchange if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Users for any reason, including without limitation:
  • Attempts to gain unauthorized access to Swypto Exchange or another User's account or providing assistance to others' attempting to do so.
  • Overcoming software security features limiting use of or protecting any content. li Usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities.
  • Violations of these Terms of Service.
  • Failure to pay or fraudulent payment for Transactions.
  • Unexpected operational difficulties.
  • Upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by LXCCoin, acting in its sole discretion.

LXCCoin also reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of six months or more, and/or to modify or discontinue our Site or Service. The User agrees that LXCCoin will not be liable to them or to any third party for termination of their Account or access to Swypto Exchange.

The suspension of the Account shall not affect the payment of the Transaction fees due for past Transactions. Upon termination, the User shall provide a valid bank account details or crypto currency address to allow the transfer of any currencies deposited to his/her Account. LXCCoin shall transfer the currencies as soon as possible following the User's request in the time frames specified by LXCCoin.

LXCCoin will send the credit balance of the User’s Account to him/her, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. LXCCoin will use reasonable efforts to ensure that such charges are disclosed to the User prior to sending the payment; however where they cannot be avoided, the User acknowledges that these charges cannot always be calculated in advance, and that he/she agrees to be responsible for such charges.

Governing law

These Terms of Service shall be governed by and construed in accordance with the laws of the United Kingdom, unless otherwise expressly provided. All disputes and controversies arising out of or in connection with this website and these Terms of Service shall be submitted to the United Kingdom Court in London (main office), as the Court of first instance. If any portion of these Terms of Service shall be deemed invalid, void, or for any reason unenforceable, such portion shall be deemed severable and shall not affect the validity and enforceability of any remaining portion.

Modifications

LXCCoin reserves the right to amend or modify all or parts of these Terms of Service at any time by publishing the revised version of the Terms of Service on Swypto Exchange. The changes will become effective, and shall be deemed accepted by the User, the first time the User uses the Services after the publishing of the revised Terms of Service and shall apply on a going-forward basis with respect to any activity initiated after the publishing.

Contact us

If you have any questions relating to these Terms of Service please contact support@swypto.exchange.