Account: means an account registered by the User on the Platform and/or on the PolkBase Software.
Buyer: means the User who makes an Order to buy Cryptocurrencies through the Platform (PolkBase Software) and/or the User whose Order is accepted by the Seller depending on the context.
Commission: means a fee charged by or on behalf of any third party (e.g. bank, non-bank financial institution, payment service provider, etc).
Cryptocurrency: means peer-to-peer decentralized digital representation of value (bitcoins, ethers, etc.).
Deposit: means a Transaction involving transfer of Funds to the Account.
External Wallet: means a Cryptocurrency or Fiat wallet that is not part of the PolkBase platform (PolkBase software) but which can be indicated on the PolkBase platform (PolkBase software).
Fiat currency: means government-issued currency, which is regulated in its country of issuance through government regulation or law.
Fiat currency storage service: means PolkBase, which includes storing of balances in Fiat currency on External Wallets of Users serving by the Holder.
Order: means the User’s offer on the PolkBase platform (PolkBase Software) to buy or sell Cryptocurrency on certain conditions.
Platform: means an appropriate environment (including software) created by PolkBase that allows to trade Cryptocurrencies.
Under these terms, PolkBase Operators may change as our business adjusts, in which case, the changed operators shall perform their obligations under these terms with you and provide services to you, and such change does not affect your rights and interests under these terms. Additionally, the scope of PolkBase Operators may be expanded due to the provision of new services, in which case, if you continue to use PolkBase services, it is deemed that you have agreed to jointly execute these terms with the newly added PolkBase Operators. In case of a dispute, you shall determine the entities by which these terms are performed with you and the counterparties of the dispute, depending on the specific services you use and the particular actions that affect your rights or interests.
Closing a position: means either buying or selling of Cryptocurrency, which essentially results in reduction of client’s open position. Closing a position means bringing a transaction to an end, incurring any related profits or losses as a result.
Seller: means the User who submits an Order to sell Cryptocurrencies through the Platform (PolkBase Software) and/or the User whose Order is accepted by the Buyer depending on the context.
Services: means all and any service provided by PolkBase.
Website or Site: means PolkBase website at polkabase.finance.
Storage service: means PolkBase, which includes storing of balances (in Fiat currency and/or in Cryptocurrency) from the abandoned Accounts, no longer supported cryptocurrencies.
Transaction fee: means a fee which is payable to PolkBase for each completed Transaction.
Transaction Price: means the total price paid by the User in respect to each Transaction performed via the Platform (PolkBase Software).
- (i) transfer of Cryptocurrencies or Fiat currencies by the User to his/her Account (“Deposit Transaction”), including transfer of Fiat currencies to External Wallet that is not part of the PolkBase platform (PolkBase Software) but which is indicated on the PolkBase platform (PolkBase software);
- (ii) transfer of Cryptocurrencies, or Fiat currencies among the Users (“Trading Transaction”), including transfer of Fiat currencies to External Wallet that is not part of the PolkBase platform (PolkBase Software) but which is indicated on the PolkBase platform (PolkBase software),
- (iii) withdrawal of Cryptocurrencies or Fiat currencies from his/her Account (“Withdrawal Transaction”).
Voucher: means an alphanumeric redeemable code, which can be used to transfer Cryptocurrency or between Accounts.
Withdrawal: means a Transaction involving a transfer of Funds from the User’s Account to his/her bank account or to an account opened in any other institution. Where the context so admits words denoting the singular shall include the plural and vice versa.
II. OUR SERVICES
- Depending on the User’s place of residence (and/or other legal facts), the User may not be able to use all the functions of the Site. It is the User’s responsibility to follow those rules and laws in his/her place of residence and/or place from which the User accesses this Site. The User must understand that technical possibility to use the appropriate Services on the Platform (PolkBase Software) doesn’t mean that such the using is legal for him/her. The User is solely responsible for understanding and complying with any and all laws, rules and regulations of his/her specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content of PolkBase.
- The User acknowledges and agrees that, when completing Trading Transactions, he/she is trading with other Users, and that PolkBase acts only as a provider of technical services (the Platform and/or PolkBase Software) in such Transactions, not as the counterparty to any trade.
III. OUR RIGHTS, RESPONSIBILITIES AND WARRANTIES
- PolkBase is not responsible: - for the delay in the processing of payments made by the fault of any third parties, operators of such transactions. - 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, PolkBase 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. The 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 PolkBase for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of the law or any other liability which may not be limited or excluded by law.
- All buy and sell orders made on the Platform, 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 the Buyers and Sellers participating in the bidding process on the Platform combined with the applicable Transaction fees.
- PolkBase does not provide any financial, investment or legal advice in connection with the Services provided by PolkBase. PolkBase may provide information on the price, range, volatility of Cryptocurrencies and events that have affected the price of Cryptocurrencies and/or links to trading ideas of third parties (persons), but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Cryptocurrencies is the User’s decision and PolkBase will not be liable for any loss suffered.
IV. THE USER’S RIGHTS, RESPONSIBILITIES AND WARRANTIES
- The User has to comply with any and all applicable laws and regulations related to the use of the Services.
- The User agrees that, whenever the Transaction is made, the Platform sends and receives the cryptocurrencies to/from the Buyer’s and the Seller’s Accounts.
- The User has to inform PolkBase immediately of any unauthorized use of his/her Account or password, or any other breach of security by email addressed to address, mentioned on the Site. Any User who violates the mentioned rules may be terminated, and thereafter held liable for any losses incurred by PolkBase or any user of the Site.
- The User undertakes not to use the Service to perform criminal and/or not legal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.
- Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.
- All added payment instruments to your Account, may it be a bank account, credit card, debit card, or others must be personalized and owned by the Account holder. Any attempt otherwise will (or can) be recognized as fraud.
- The User represents and warrants that he/she will only use the Platform to perform Transactions in accordance with the conditions set forth in these Terms and that they are duly authorized and have the capacity to enter into the Transactions on the Platform.
- The User represents and warrants that both currencies deposited (indicated on the Platform basing the information from External wallet) to(on) the Account belong to the User and derived from legal sources.
- The User represents and warrants than he/she will withdraw any cryptocurrency from his/her Account only to his/her wallets, otherwise PolkBase does not hold any liability for the consequences of such withdrawal. A mistake in requisite of the User’s wallet while transaction may cause the loss of appropriate currencies without any responsibility and/or coverage from PolkBase.
- The User represents and warrants that all Transactions being carried out do not violate the rights of any third party or applicable laws.
- The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of PolkBase Services and should be paid according to the User’s state of residence regulations. PolkBase is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties. The User has to refrain from transactions on the Platform related to tax offences and/or violations.