Terms of use

Last update: 2021-09-21

These Terms of Use constitute an electronic agreement between every person or legal entity that use the Services (hereinafter the “User”) and:

  1. CEX.IO Corp. registered at 101 Hudson Street, 21st Floor, Jersey City, NJ 07302 is a sister company of CEX.IO. CEX.IO Corp. provides its services only to the United States of America (hereinafter “US”) Users from supported States, or

  2. CEX.IO LTD registered at 33 St. James's Square, London, United Kingdom, SW1Y 4JS, that serves residents throughout countries all over the world in which it operates

(hereinafter the “CEX.IO”).

These Terms of Use contain important provisions, which the User must consider carefully when choosing whether to use the Services. Please read these Terms of Use carefully before agreeing to them.

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 of CEX.IO.

These Terms of Use incorporate Privacy Policy, so by accepting these Terms of Use, the User agrees with and accepts it.

IF THE USER DOES NOT ACCEPT THESE TERMS OF USE, THE USER SHALL NOT USE ANY OF CEX.IO’S SERVICES.

1. DEFINITIONS

1.1. Capitalized terms used in these Terms of Use shall be interpreted in accordance with the definitions provided below:

1.1.1. Administrative fee: means a fee that charged for additional CEX.IO efforts within the refund process in size of $100.

1.1.2. Card: means a credit card, debit card or similar payment mechanism issued by Visa (VISA U.S.A. Inc. and/or VISA International Inc. and/or Visa Europe Limited and related brands, and any of their successors or assigns), MasterCard (Mastercard International Inc. and Europay International S.A. and related brands, and any of their successors or assigns) or any other card association that is duly licensed.

1.1.3. Cryptocurrency: means peer-to-peer decentralized digital representation of value (e.g. bitcoins, ethers, etc.).

1.1.4. Fiat currency: means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.

1.1.5. Order: means the User’s instruction to buy the Cryptocurrencies for the indicated sum of User’s funds in the indicated Cryptocurrency’s price that should be sent to the indicated by the User wallet address.

1.1.6. Services: means all and any service provided by CEX.IO.

1.1.7. Transaction: means transfer of Fiat currencies by the User to CEX.IO to buy Cryptocurrencies.

1.1.8. User / You: means a person that uses the Services and agrees to follow the Terms of Use.

1.2. Where the context so admits words denoting the singular shall include the plural and vice versa.

2. THE SCOPE OF THE SERVICES

2.1. The Services allow the Users to buy Cryptocurrencies.

2.2. The Services are considered to be provided after the acquisition of Сryptocurrency for the User's money.

2.3. Depending on the User’s place of residence, the User may not be able to use the Services. 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 the Services.

  1. THE USER’S RIGHTS AND RESPONSIBILITIES

3.1. The User has the right to enter and use the Services, as long as he/she agrees to and actually complies with the Terms of Use.

3.2. The User undertakes to read the entire Terms of Use carefully before using the Services.

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

3.4 The User is obliged to specify the correct wallet address to send the Сryptocurrency with regard to the Services.

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

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

3.7. The User’s Card must be named after the User’s name and surname. Any attempt otherwise will be considered as fraud.

4. THE USER’S REPRESENTATIONS AND WARRANTIES

4.1. By using the Services, 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 Services;

is at least 18 years old and has the right to accept these Terms of Use and participate in Transactions.

4.2. The User represents and warrants that he/she will only use the Services in accordance with the conditions set forth in these Terms and that they are duly authorised and have the capacity to enter into the Transactions.

4.3. The User represents and warrants that Fiat currency using in the Transaction belong to the User and derived from legal sources.

4.4. The User represents and warrants than he/she will specify the wallet address for Сryptocurrency to withdraw belongs solely to the User, otherwise CEX.IO does not hold any liability for the consequences of such withdrawal.

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

5. CEX.IO'S RIGHTS AND RESPONSIBILITIES

5.1. CEX.IO undertakes to provide the Services with the utmost effort, due care and in accordance with these Terms of Use.

5.2. In case the User’s funds are debited from his/her Card CEX.IO undertakes to buy the Сryptocurrency in accordance with the Order.

5.3. To the extent permitted by law, CEX.IO 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 Use by CEX.IO.

5.4. CEX.IO is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection or any reason why the Services is unavailable at any given time.

5.5. CEX.IO is not responsible for the delay in the processing of payments made by the fault of any third parties, operators of such Transactions.

5.6. In the case of fraud, CEX.IO undertakes to report all the necessary information, to the relevant authorities dealing with fraud and breaches of the law.

6. CEX.IO’S REPRESENTATIONS AND WARRANTIES

6.1. CEX.IO shall provide the Services with reasonable care and skill and in accordance with these Terms of Use.

7. THE USER VERIFICATION

7.1. Identification and verification procedures (also known as 'Know Your Customer' or 'KYC') are required for all the Transactions. All existing and new Users must pass the verification procedure. CEX.IO reserves the right not to provide the Services to the Users who have not passed verification. If the User refuses to provide required documents and information under KYC, CEX.IO reserves the right to immediately terminate the Services provision to the User.

7.2. The User undertakes to provide CEX.IO 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.

7.3. The User hereby authorises CEX.IO to, directly or indirectly (through third parties), make any inquiries as we consider it necessary to check the relevance and accuracy of the information provided for verification purposes.

8. ORDER

8.1. CEX.IO allows the User to submit the Order to buy Cryptocurrencies.

8.2. The User recognizes that the Order should only be submitted after careful consideration and the User understands and accepts consequences of its execution. The User agrees that as soon as the Order is executed, such Transaction is irreversible and may not be cancelled. The Order is executed when the Cryptocurrency is bought.

8.3. Minimum and maximum Order amount vary for each Fiat currency and Cryptocurrency separately and can be seen on the LINK.

9. REFUND

9.1. The User agrees that after cryptocurrency has been sent by CEX.IO to the User no refund is possible.

9.2. Full refund is possible in case CEX.IO could not buy the Cryptocurrency at the specified price in the Order.

9.3. In the case when the User has specified incorrect wallet address for the Cryptocurrency to be sent and does not respond on CEX.IO’s requests to provide the correct one for more than two (2) months, then CEX.IO sells the Cryptocurrency via market order at the current exchange rate and returns the funds received to the User’s Card deducting the Administrative fee.

9.4. The same procedure as prescribed in the clause 9.3 should be applicable in the case when User is applied on refund and the Cryptocurrency was bought due to User’s instructions (Order) but has not been sent to the User’s wallet address yet because of User’s actions, such as providing an incorrect address for sending Cryptocurrency, refusing to provide such an address, etc.

9.5. The User acknowledges and agrees that the CEX.IO’s wallet from which the Cryptocurrency is sent to the User cannot accept the Cryptocurrency back.

9.6. In case the User send the Cryptocurrency back to the CEX.IO’s wallet such Cryptocurrency is recognized as lost fund and cannot be refunded.

10. CEX.IO CORP.’S LICENSES

10.1. CEX.IO Corp. has received a Money Transmitter license (“MTL”) and is licensed to operate in the following States:

Alabama.
Alaska.
Connecticut.
Delaware.
Florida.
Georgia.
Idaho.
Illinois.
Iowa.
Kansas.
Louisiana.
Maine.
Maryland.
Minnesota.
Nebraska.
Nevada.
New Hampshire.
New Jersey.
New Mexico.
North Carolina.
Ohio.
Oklahoma.
Oregon.
Rhode Island.
South Carolina.
South Dakota.
Tennesse.
Texas.
Vermont.
Washington.
10.2. If you do not see your state on this list, we may still be able to provide services to you. Based on our analysis, the following states do not require a license for CEX.IO Corp. to provide its services to you: Arizona, Arkansas, California, Colorado, Indiana, Kentucky, Massachusetts, Michigan, Missouri, Mississippi, Montana, North Dakota, Pennsylvania, Utah, Virginia, Wisconsin, Wyoming, District of Columbia.

11. TERMINATION OF THE TERMS OF USE

11.1. The User may terminate the Terms of Use at any time, following settlement of any pending Transactions by informing CEX.IO via [email protected].

11.2. CEX.IO may terminate the Terms of Use at any time, when the User is in breach with these Terms of Use.

12. SERVICES AVAILABILITY

12.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.

12.2. CEX.IO will strive to keep the Services up and running; however, all online services suffer from occasional disruptions and outages and CEX.IO is not liable for any disruption or loss the User may suffer as a result.

12.3. CEX.IO will use reasonable endeavors to ensure that the User can normally access the Services in accordance with the Terms of Use.

13. FINANCIAL OR LEGAL ADVICE

13.1. CEX.IO does not provide any financial, investment or legal advice in connection with the Services provided by CEX.IO.

14. TAXATION

14.1. The User undertakes to pay all his/her taxes and duties, which can be resulted from the use of CEX.IO Services and should be paid according to the User’s state of residence regulations.

14.2. CEX.IO is not responsible for any violation made by the User due to his/her obligation to calculate and pay taxes and duties.

15. NOTICES AND COMMUNICATION

15.1. CEX.IO reserves the right to send notices to and communicate with the User by any means of communication available to CEX.IO, considering the contact details provided by the User.

15.2. The User expressly agrees to receive any notices in electronic form and to be bound by them, if so is required by the Terms of Use.

15.3. The User agrees that CEX.IO dully informs the User and does not bear any responsibility in case when CEX.IO’s emails moved to the User’s spam folder.

16. GOVERNING LAW AND DISPUTE RESOLUTION

16.1. These Terms of Use shall be governed by and construed in accordance with the laws of the England and Wales. All disputes arising out of or in connection with this website and these Terms of Use 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 Use 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.

17. LIMITATION OF LIABILITY

17.1. In no event shall CEX.IO, its officers, directors, employees, agents, and all third party service providers be liable to the User or any other person or entity for any direct, indirect, incidental, special, punitive or consequential damages whatsoever, including any that may result from (i) accuracy, completeness or content of the site from which the User access the Services, (ii) accuracy, completeness or content of any sites linked (through hyperlinks, banner advertising or otherwise) to the site from which the User access the Services, (iii) the Services found at the site from which the User access the Services or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (iv) personal injury or property damage of any nature whatsoever, (v) third-party conduct of any nature whatsoever, (vi) any unauthorized access to or use of our servers and/or any and all content, personal information, financial information or other information and data stored therein, (vii) any interruption or cessation of the Services to or from the site from which the User access the Services or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (viii) any viruses, worms, bugs, trojan horses or the like, which may be transmitted to or from the site from which the User access the Services or any sites linked (through hyperlinks, banner advertising or otherwise) to this site. In addition, the User specifically acknowledge and agree that in no event shall CEX.IO’s total aggregate liability exceed the total amount paid by the User for the particular services that are the subject of the cause of action. The foregoing limitation of liability shall apply to the fullest extent permitted by law and shall survive any termination or expiration of the Terms of Use.

18. MODIFICATIONS AND AMENDMENTS

18.1. CEX.IO reserves the right to amend or modify any portion of these Terms of Use at any time by publishing the revised version of the Terms of Use. 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 Use and shall apply on a going-forward basis with respect to any activity initiated after publishing.

19. FORCE MAJEURE

19.1. If CEX.IO is unable to perform the Services outlined in the Terms of Use due to the factors beyond its control including but not limited to the event of Force Majeure, change of law or change in sanctions policy, CEX.IO will not have any responsibility to the User with respect to the Services provided hereunder and for a time period coincident with the event.

CONTACT US
If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms and/or your use of the Service, please, contact [email protected]

CUSTOMER NOTICE
Oregon Department of Insurance and Finance

CEX.IO maintains a money transmission license in the State of Oregon and are therefore subject to the requirements of the Oregon money transmission statutes. Any regulated services provided to users located in the State of Oregon shall be characterized as money transmission and not as trust services performed on behalf of our users in the State of Oregon. If you are a user located in the State of Oregon, we are not providing any trust services to you or to any other user in the State of Oregon in the course of you visiting, accessing, or using any of Our Sites hereunder. Any reference in the Terms of Service Agreement to fiduciary services provided by us on your behalf shall refer, in the case of users in the State of Oregon, to our fiduciary obligations as a licensed money transmitter in Oregon.

If you are located in the State of Oregon and have a complaint, please first contact CEX.IO Support. If you still have an unresolved complaint regarding our money transmission activity, you may also direct your complaint to the: Oregon Division of Financial Regulation, P.O. Box 14480, Salem, OR 97309-0405; +1 (866) 814-9710 (toll-free in the USA). Please visit http://dfr.oregon.gov/ for additional information.

Alaska Department of Commerce, Community, and Economic Development

If your issue is unresolved by CEX.IO CORP which can be reached at (800) 674-2975 please submit formal complaints with the State of Alaska, Division of Banking & Securities. Formal complaints must be in writing, please download the form here: DBS General Complaint Form Formal complaint forms may be submitted via:

Fax: 907-465-1230

Email: [email protected]

Mail: Division of Banking & Securities PO Box 110807 Juneau, AK 99811-0807 If you have questions regarding formal complaints, please call 907-465-2521

Colorado Division of Banking

Colorado Money Transmitters Act CUSTOMER NOTICE Entities other than FDIC insured financial institutions that conduct money transmission activities in Colorado, including the sale of money orders, transfer of funds, and other instruments for the payment of money or credit, are required to be licensed by the Colorado Division of Banking pursuant to the Money Transmitters Act, Title 12, Article 52, Colorado Revised Statutes. If you have a Question about or Problem with YOUR TRANSACTION – THE MONEY YOU SENT: You must contact the Money Transmitter who processed your transaction for assistance. The Division of Banking does not have access to this information. If you are a Colorado Resident and have a Complaint about THE MONEY TRANSMITTER – THE COMPANY THAT SENT YOUR MONEY: ALL complaints must be submitted in writing. Please fill out the Complaint Form provided on the Colorado Division of Banking’s website and return it and any documentation supporting the complaint via mail or email to the Division of Banking at: Colorado Division of Banking 1560 Broadway, Suite 975 Denver, CO 80202 email: [email protected] website: www.dora.colorado.gov/dob

Maryland

The Commissioner of Financial Regulation for the State of Maryland will accept all questions or complaints from Maryland residents regarding CEX.IO CORP (License No. 1804170 and NMLS ID: 1804170) by contacting the Commissioner's office at: 500 North Calvert Street, Suite 402, Baltimore, Maryland 21202, or (888) 784-0136.

Florida

NOTICE: By the Florida Office of Financial Regulation BY GRANTING CEX.IO CORP A LICENSE, THE FLORIDA OFFICE OF FINANCIAL REGULATION IS NOT ENDORSING THE USE OF DIGITAL OR VIRTUAL CURRENCIES.

U.S. currency is legal tender backed by the U.S. government.
Digital and virtual currencies are not issued or backed by the U.S. government, or related in any way to U.S. currency, and have fewer regulatory protections.
The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat (government) currency.
Holding digital and virtual currencies carries exchange rate and other types of risk.
POTENTIAL USERS OF DIGITAL OR VIRTUAL CURRENCIES, INCLUDING BUT NOT LIMITED TO BITCOIN, SHOULD BE FOREWARNED OF A POSSIBLE FINANCIAL LOSS AT THE TIME THAT SUCH CURRENCIES ARE EXCHANGED FOR FIAT CURRENCY DUE TO AN UNFAVORABLE EXCHANGE RATE. A FAVORABLE EXCHANGE RATE AT THE TIME OF EXCHANGE CAN RESULT IN A TAX LIABILITY. PLEASE CONSULT YOUR TAX ADVISOR REGARDING ANY TAX CONSEQUENCES ASSOCIATED WITH YOUR HOLDING OR USE OF DIGITAL OR VIRTUAL CURRENCIES.

If you have a question or complaint, please contact the consumer assistance division of CEX.IO at Help Centre or 1-800-674-2975.

Hawaii

CEX.IO is providing services to you as a participant in a special Hawaii project which ends on December 31, 2022. At the end of the project term, CEX.IO may be required to close all accounts for Hawaii customers and cease operations. CEX.IO will notify Hawaii customers in advance if accounts must be closed. Hawaii customers who choose to open accounts with CEX.IO are advised that the virtual currency or digital currency purchased, whether as an investment, for making payments, or other purposes, may lose value, including the loss of some or all of your original purchase amount.

Louisiana

Please note the license issued to CEX.IO CORP. by the Louisiana Office of Financial Institutions does not cover the exchange or transmission of virtual currency. CEX.IO CORP. is licensed by the Louisiana Office of Financial Institutions as a money transmitter. The Louisiana Office of Financial Institutions does not license or regulate services related to virtual currency including but not limited to transmission or exchange which may be conducted by CEX.IO CORP.