These Terms of use and any terms and Ancillary policies incorporated herein (hereinafter: Terms) govern a contractual relationship between any individual natural person or legal entity that accepts these Terms and applies to access and use the Platform (hereinafter: User) and

• Vital Market Wallet, a company incorporated in Luxembourg under company number: 44699 IBB 0014. whose registered office is at 5, Place de la Gare, L – 1616 Luxembourg as the owner of the Platform, proprietary software and associated Intellectual Property Rights (herein referred as: “Vital Market Wallet”),
• Vital Market Wallet Operations OÜ, a company incorporated in Estonia under company number: 14901959 and registered as a virtual asset service provider with the Estonian Financial Intelligence Unit under the number FTV000299, whose registered office is at Harju maakond, Kristiine linnaosa, Kuldnoka tn 4-4, 10619 Tallinn, Estonia as the operator of the Platform authorised by Vital Market Wallet (herein referred as: “BTOps”), and
• FintechOperation OÜ, a company incorporated in Estonia under company number: 16053783 whose registered office is at Tornimäe 5, 2nd floor, 10145 Tallinn, Estonia (herein referred as: “FinOps”), as an appointed electronic money distributor for the distribution and/or redemption (but not issuance) of electronic money on behalf and under the unconditional responsibility of UAB Payrnet, an electronic money institution incorporated in Lithuania under company number: 305264430 whose registered office is at AltSpace, Islandijos g. 6, 01117, Vilnius, Lithuania, authorized by the Bank of Lithuania (electronic money institution license no. 72) as an electronic money institution for the issuing, distribution, redemption of electronic money and provision of certain payment services (herein referred as: UAB Payrnet).

(Vital Market Wallet, BTOps and FinOps collectively referred as: the “Companies”).

The Terms apply to access and use of Websites, Apps, Services, all content, data, and information of Companies, either collectively or separately, unless otherwise indicated (collectively hereinafter: “Services”).

User should read the entire Terms carefully before using this Website or any of the Services. By clicking “I agree” and/or by using the Services, User is confirming that he has thoroughly read and understood the entire content of these Terms with ancillary policies and accordingly intending to be legally bound consents with the provisions set in these Terms. In the absence of such consent, or if such consent is validly withdrawn, Companies will not provide User with the access to the Services and User should immediately discontinue using the Services. Companies may modify this Agreement at any time in its sole discretion and with a notice to the User. Such changes will be posted online and will be effective upon posting. Continued use of the Services shall constitute acceptance of these Terms and User’s continued use of the Services following any modification of these Terms shall constitute acceptance to the Terms and corresponding Ancillary Policies, as amended. If User does not agree to the changes, he must discontinue use of the Services.

Payment services (UAB Payrnet Terms)

Payment services and services related to distribution and redemption of electronic money are provided by UAB Payrnet, a private limited company governed by Lithuanian law, with the registered office of which is located at AltSpace, Islandijos g. 6, 01117, Vilnius, Lithuaniaand registered in the Lithuanian Business and Companies Registry under number 305264430, authorised to exercise their activity in the European Economic Area, in the capacity of an electronic money institution authorised by the Bank of Lithuania [Lithuanian central bank], Gedimino pr. 6, LT-01103 Vilnius, Lithuania.

FinOps is an appointed electronic money distributor, entitled and authorised to distribute and/or redeem, but not issue, electronic money on behalf and under the unconditional responsibility of UAB Payrnet in accordance with Lithuanian Law on Electronic Money Institutions. Such services are available to Users within the meaning of Services related to FIAT currencies subject to conditions in these Terms and subject to terms and condition of UAB Payrnet, which are integral part of these Terms available here: https://vitalmarketwallet.trade/terms

By Using the Services provided by the Companies within the Platform, the User acknowledges and agrees that the Platform is operated by the Operator, thus the Operator being in relation to the individual User the counterparty to all trades and transactions enabled on Platform between FIAT currencies and Crypto-assets. Individual Registered and accepted Users shall also have a mandatory account at the level of UAB Payrnet, accessible through FinOps’s technical connectivity to UAB Payrnet services via Platform, whereby FinOps in this respect acts as an appointed distributor of an UAB Payrnet electronic money institution. At the same time the Operator also has its own separate account at the level of UAB Payrnet. The Crypto-assets are held in the name of the Operator at the level of the custody wallet service provider, BitGo. In case a User wishes to trade EUR against Bitcoins, the Operator will match the Order with a request to trade Bitcoins against EUR and would act as respectively buyer/seller in the transaction in accordance with Rulebook. The transactions are reflected at the level of the electronic money accounts held at UAB Payrnet, accessible via FinOps and at the level of the cryptocurrency wallets. For the avoidance of doubt, Vital Market Wallet, BTOps and FinOps do not carry out payment transactions for Users of the Platform, nor they hold in custody FIAT currencies for the account and on behalf of Users.

Ancillary policies

The following documents are an integral part of these Terms and must be read and interpreted in conjunction therewith:

• Rulebook (Annex I)
• Risk disclaimer (Annex II)
• Refund policy (Annex III)
• Fee Schedule
• Privacy Policy

(herein collectively referred as: “Ancillary policies”)

These documents are annexed to the Terms.

1. Definitions and interpretations

Account means contractual arrangement wherein a User has accepted these Terms of Use and Ancillary policies and registered on the Website and/or Apps. Means that User has completed the AML/CFT requirements procedure, met the requirements in 2.2. and under section 3. Of these Terms and received verification to use the Services.

AML/CFT requirements mean a set of activities required by law to perform identification of Users for the purposes of identity verification and detection of money laundering, terrorist financing, fraud, or any other financial crime.

API means application programming interface, used for communication and/or transfer of data between Companies and their Users individual custom software.

App means mobile App and Web application (Platform) (available at Google store and Apple app store and Website) which provides the Services for Users with registered Accounts.

Assets means Crypto-assets and/or FIAT currency.

Consumer Directive means Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 and national transpositions thereof.

Crypto-assets means a digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically, including but not limited to Bitcoin (BTC), Bitcoin cash (BCH), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), which can be traded and/or used via Services. Also referred to as Digital Assets or Virtual Assets.

Fee Schedule means documents, which determines the applicable rates of fees Operator and/or FinOps charge for the relevant types of Services.

FIAT currency means government-issued currency, namely United states dollar (USD), Euro (EUR) and other similar currencies, applicable and enabled within the Services.

Intellectual Property rights mean any or all of the following which are owned by Companies and all rights in, arising out of, or associated with throughout the world: (i) all domestic and foreign patents and applications therefor, including provisional applications, and all reissues, divisions, renewals, extensions, continuations and continuations-in-part thereof (“Patents”); (ii) all rights (other than Patents) in inventions (whether patentable or not), invention disclosures, improvements, trade secrets, proprietary information, know-how, technology and technical data (“Technical-model”); and (iii) all copyrights, copyright registrations and applications therefor and all other rights corresponding thereto throughout the world (“Copyrights”). “Materials” has the meaning set out in section 9. of the Terms.

Operator is the authorised virtual asset service provider of the Company for the operation of the Platform pursuant to these Terms and Ancillary policies. Virtual asset Services and corresponding administration pursuant to these Terms and Ancillary policies is provided on behalf of their clients or for their own accounts by the following Operators:

• BTOps, and/or,
• Vital Market Wallet.

Order shall have the meaning set out in the Rulebook, which is an integral part of and annexed to these Terms.

Personal information means information that can be associated with a specific person (natural or legal), including, but not limited to, name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding bank account (such as the name of the bank, the account type, routing number, and account number) and any other information required to register an Account and use the Services.

Platform means application, including but not limited to Apps on the Website, which provides the access and use of Services for Users with registered Accounts under the terms and conditions of these Terms.

Private Wallet account means external private digital Crypto-Assets account from which a User may transfer Crypto-assets to Balance within Account and vice versa.

Restricted Area list means countries as defined on Website https://support.vitalmarketwallet.trade/support/solutions/articles/36000183676-countries-of-operations

Services shall have the meaning, set out in section 5. of these Terms.

User means a natural or legal entity, who uses Companies’ Website, Apps or in any way uses Companies’ Services. Also referred to as “You” in respect of these Terms.

Website means all content, Platform and Services, published on webpages on the domain: https://vitalmarketwallet.trade/

In this Agreement a reference to:

a) word importing one gender shall (where appropriate) include any other gender and a word importing the singular shall (where appropriate) include the plural and vice versa; and

b) any statute or statutory provision includes, except where otherwise stated, the statute or statutory provision as amended, consolidated or re-enacted and includes any subordinate legislation made under the statute or statutory provision (as so amended, consolidated or re-enacted)

2. Account

2.1. To use the Services, every User must register for an Account. Every User can register for 1 personal Account and/or 1 corporate Account.

2.2. With registering an Account, User agrees and warrants to:

a) to create a strong password that shall not be used for any other website or online service;

b) to provide accurate and truthful information;

c) to maintain and promptly update Account information;

d) to maintain the security of the Account by protecting the password and restricting access to the Account;

e) to promptly notify Companies if any security breaches related to User’s Account are discovered;

f) to take responsibility for all activities that occur under the User’s Account and accept all risks of any authorized or unauthorized access to the Account;

g) for natural persons: User is at least 18 years of age and has the full capacity to accept these Terms and enter contractual relationships and use the Services,

h) for organizations: User and it’s authorised representative warrant that:

I. User is authorised under its governing documents and in the jurisdiction in which it is organised and/or regulated to enter into a contractual relationship under these Terms and trade.

II. User has no legal incapacity,

III. natural persons identified in the Account have the proper authority to use the Services.

2.3. User can register for one personal and one corporate Account. To register for a corporate Account, User, his representative or employee must first register for a personal Account and contact the Operator and/or FinOps support teams to register a corporate Account. User shall receive further instruction by the Operator’s and/or FinOps’s customer service team.

3. User identification

3.1. When registering for an Account, User must provide required Personal information and requested documents for verifying User’s identification. User agrees to provide Companies with all information requested for the purposes of establishing adequate identity verification and for the purposes of detection of potential money laundering, terrorist financing, fraud, or any other financial crime and permit Companies to keep a record of such information pursuant to applicable AML/CFT laws. User shall complete certain verification procedures before he is permitted to use the Services and access to one or more Services, including certain transfers of FIAT and Crypto-assets, and the limits that apply to User’s use of the Services, may be altered as a result of information collected on an ongoing basis.

3.2. In providing Companies with Personal Information or any other information that may be required, User confirms that the information is accurate and authentic. User agrees to keep Companies updated if any of the information the User provides changes.

3.3. User authorises Companies to make the inquiries, whether directly or through third parties, that are considered necessary by Companies to verify the User’s identity or protect the User and/or Companies against fraud or other financial crime, and to take action Companies reasonably deem necessary based on the results of such inquiries. With carrying out these inquiries, User acknowledges and agrees that Personal information may be disclosed to credit reference and fraud prevention or financial crime agencies.

4. Eligibility

4.1. Services are available to Users who provide sufficient and accurate information with supporting documentation necessary to perform adequate user identification verification in accordance with AML/CFT requirements and no indications of suspicion of money laundering, a predicate offence to money laundering, organised crime, or terrorist financing exists. 

4.2. If User’s and/or its beneficial owner’s domicile, residency or citizenship is associated with a country included in Restricted Areas list, such User may be restricted to use the Services. Operator may at any point prohibit or restrict the use of Services to Users, which are associated to certain foreign jurisdictions, which are not included in Restricted Area list, but might present disproportionate administrative and/or regulatory burdens.. It is the User’s responsibility to follow those rules and laws in their country of residence and/or country from which the User accesses and uses the Services.

4.3. The Services are available for Users that:

(1) have successfully registered for an Account,

(2) accept these Terms,

(3) comply with provision 2.2. and 3. of these Terms,

(4) User complies with AML/CFT requirements,

(5) have not previously been suspended or removed from using our Services,

(6) are not located in, under the control of, or a national or resident of Restricted Areas list,

(7) will not use certain Services, if any applicable laws in User’s or Companies jurisdictions prohibit the User to use the Services.

5. Services

5.1. Companies provide the following Services for Users:

a) exchanging FIAT currencies for Crypto-Assets and vice-versa, whereby the Operator is being in relation to the individual User the counterparty to their trades executed on the Platform between FIAT currencies and Crypto-assets while the payments in FIAT currencies are enabled to Users by UAB Payrnet as an authorised electronic money institution, whereby FinOps is providing the technical connectivity to UAB Payrnet services via Platform.

b) trading one type of Crypto-Assets for another type of Crypto-Assets, whereby the Operator is being in relation to the individual User the counterparty to their trades executed on the Platform between Crypto-Assets for another type of Crypto-Assets.

c) safekeeping and/or administration of Crypto-Assets, provided by the Operator.

d) use of other ancillary Services that shall be added and notified to Users.

5.2. Users execute their use of Services through Orders in accordance with the Rulebook.

5.3. Users can access the Services through the Platform, App or API.

5.4. The User confirms that he will be contractually bound in connection with each Order when such an Order is accepted by Companies. Companies shall make necessary arrangements to ensure the delivery of any Assets sold and/or purchased, in accordance with the Rulebook.

5.5. User agrees and acknowledges that the Operator:

a) acts as a counterparty to the executed Order on a best-effort basis which includes sourcing the liquidity from dedicated market makers, trading venues, and acts in matched principal trading capacity,

b) is not acting as an advisor or in any fiduciary capacity nor is any action from the Operator considered as investment advice in any way.

5.6. User is not able to predetermine or execute a trade with a particular User or with a particular Account owned by other Users.

5.7. By placing an Order in accordance with the Rulebook, User:

a) authorises the Operator to process the Order in compliance with Rulebook,

b) agrees to be charged in accordance with the Fee Schedule for each trade, exchange, purchase or sale of FIAT currencies and Crypto-Assets, placed in the Order,

c) agrees and acknowledges that complete or pending Orders cannot be cancelled, reversed, or changed, where the transaction is marked as complete or pending. If an order has been partially matched and executed, the User can cancel the remainder of that Order unless the Order relates to a market trade or has already been initiated with the Operator and has been completed or pending. The Operator reserves the right to refuse any cancellation request associated with a market Order once such Order has been submitted by the User,

d) agrees and acknowledges that all trades are irreversible once initiated. The Operator may reverse a trade if necessary and under extraordinary conditions. User does not have a right or an option to reverse an initiated trade,

e) is responsible for maintaining an adequate balance of their Assets in order to avoid overdraft, insufficient Assets, or similar inconveniences to avoid possible fees charged by the payment services provider. If User has an insufficient amount of Assets to complete an Order, the Operator may:

I. cancel the entire Order,

II. fulfil a partial Order using the amount of Assets currently available and cancel the remainder of the Order.

5.8. User agrees and acknowledges that the Operator may at sole discretion, limit, change, or in any way impose limits on the Services or impose any other conditions or restrictions upon Users use of the Services without prior notice.

5.9. The Operator may

a) limit the amount of Assets that are submitted in the Orders,

b) halt the usage of Services for maintenance reasons,

c) restrict the use of Services from certain Users at any time without prior notice, especially if the conditions in points 2. and 4. of these Terms are not met.

5.10. If any taxes apply for using the Services, it is the User’s responsibility to report and remit the correct tax to the appropriate tax authority. User agrees that Companies are not responsible for determining whether taxes apply for the Services used or for collecting, reporting, withholding or remitting any taxes arising from the use of Services.

6. Assets

6.1. User may use the trading Services provided by the Operator after having first transferred Crypto-assets to the registered Account and/or having sufficient FIAT currency balance available at his UAB Payrnet’s account, provided via FinOps’s technical connectivity.

6.2. Crypto-assets can be transferred to and therefore credited to registered Account in Crypto-assets from external crypto wallets. Transfers from third-party exchange accounts are strongly discouraged and the Operator does not guarantee for the security and/or effective execution of the transfer of Crypto-assets from registered Account to third-party exchange accounts and vice-versa.

6.3. The Crypto-assets of the User are in custody of the Operator at the level of a general account opened in the Operator’s name with a Crypto-asset custody wallet provider. In accordance thereto, the Operator holds the public and private keys giving access to the relevant account at the level of the Crypto-asset wallet provider. The Operator, however, holds the Crypto-assets in custody on behalf of the individual User and undertakes to return such Crypto-assets to the User upon request or transfers them in accordance with User’s instructions pursuant to provisions in Rulebook, unless it is prevented from doing so in accordance with the provisions of these Terms of Use or Ancillary policies.

6.4. FIAT currencies can be deposited to User’s account at UAB Payrnet as an electronic money institution and payment service provider exclusively through technical integration in Platform provided by FinOps:

• by using the SEPA payment system (Single Euro Payments Area) with a registered bank account,
• by wire transfer outside SEPA payment system,
• by using credit/debit card from registered bank accounts.

User acknowledges and agrees that FinOps, Vital Market Wallet or BTOps are not carrying out payment transactions for Users of the Platform, nor they hold FIAT currencies for the account and on behalf of Users. Cited Companies therefore have no rights, obligations or liabilities in relation thereto towards the User. All services related to FIAT currency transactions, safekeeping and account administration are based on independent legal relationship subject to terms and conditions, established between individual User and UAB Payrnet. The Companies are not responsible for any actions, omissions, non-performance or interruptions of the UAB Payrnet in providing its services and accordingly User understands and consents that in this respect the Companies shall not be liable whatsoever for any damages or losses whether indirect, incidental, special or consequential, in profits, goods or services, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage.

6.5. User confirms and acknowledges that Crypto-assets which are deposited in a registered custody wallet Account, as well as FIAT currencies, which are held at UAB Payrnet account may be used exclusively for:

• the use of Services in accordance with Terms,
• the Fees and other costs for Services in accordance with Terms,
• withdrawal in accordance with these Terms and Refund Policy which form an integral part of these Terms.

6.6. Companies may without prior notice debit Users Account by any amount which the User owes to Companies resulting from the contractual relationship between Companies and the User.

6.7. Withdrawal of Assets can be made if all of the following conditions are met:

• User complies with all AML/CFT requirements and no indications of suspicion of money laundering, a predicate offence to money laundering, organised crime, or terrorist financing exists in regard to such User,
• sufficient balance of Assets is attributed to User’s Account and on Users’ UAB Payrnet account, less direct costs and fees of Services.
• for FIAT currency withdrawals the UAB Payrnet payment service providers receive the payment instruction directly from the User through the API integration provided via the Website or Apps, where the UAB Payrnet payment institution is responsible for processing the payment transaction, whereby User acknowledges and consents that the Companies bear no responsibility for UAB Payrnet’s services or failed payment transactions and User will not hold the Companies liable for any damages or losses whether indirect, incidental, special or consequential, in profits, goods or services, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage.

6.8. User is aware that external wallets or payment providers may reject transactions of Crypto-assets from registered Account and vice-versa. User will not hold Companies liable for any damages resulting from such rejected transactions.

6.9. Withdrawal of Assets may be prevented for any reason without prior notice, including without limitation for:

• using the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities,
• violating these Terms,
• unauthorized access to the Platform and/or Website,
• software security reasons,
• fraudulent deposits or withdrawals of Assets,
• unexpected operational difficulties,
• suspicion of money laundering, a predicate offence to money laundering, organised crime, or terrorist financing exists in regard to such User,
• upon the request of law enforcement or other government authorities.

6.10. Companies will make reasonable endeavours to provide adequate security of Crypto-assets on Account by using high-end security protocols and other reasonable security measures, such as setting up an enterprise-level wallet provider, establishing high internal security protocols and other security measures. Nevertheless, User is aware and consents that Companies do not guarantee and are not liable for possible loss of Assets, deriving from theft, hacking, mining attacks and/or in relation with (but not limited to) other events which may result in loss of Assets set out in section 8. (Risks) of Terms and User will not hold the Companies liable for any damages or losses whether indirect, incidental, special or consequential, in profits, goods or services, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage.

7. Fees and costs

7.1. User agrees to pay fees and costs for trades, exchanges and/or transactions completed via Companies’ Services.

7.2. User acknowledges and agrees to Fees and costs for Companies’ Services, which are further specified in Fee Schedule as amended from time to time, which is an integral part of these Terms.

7.3. The Company charges 15% brokerage fees or commissions of the total profits after a successful trade.

7.4. The Company will not approve Client's withdrawal until 15% brokerage fees or commission of his/her total trading profits payment has been made to the Company.

7.5. The Company does not levy an additional charge(s) on transfers of funds to be credited to a Trading Account made by debit card or credit card.

7.8. The Company may introduce additional fees and charges, and may change any existing fees and charges, at any time, by giving the Client not less than 10 Business Days notice of such changes.

8. Risks

8.1. User agrees and acknowledges that Services, blockchain technology, Crypto-Assets protocols and related technologies are correlated with certain risks. By using the Services and establishing an Account Users accept the risks outlined in these Terms and other risks not specified herein.

8.2. User agrees and acknowledges that Companies hereby expressly disclaim any and all responsibility and liability for any direct, indirect, incidental, special or consequential losses or damages of any kind, including but not limited to damages or losses in profits, goods or services, irrespective of whether or not the User has been notified, advised or otherwise might have anticipated the possibility of such loss or damage occurring in light of (but not limited to) the following risks. User will defend, indemnify, and hold harmless Companies and/or any of their agents, officers, directors, or employees from and against any violation of such laws or regulations.. User acknowledges that he has understood and been warned of the following risks:

a) Trading risks: User agrees and acknowledges that he shall access and use the Services at his own risk. The risk of loss in trading Assets (FIAT currencies and Crypto-Assets) can be substantial. With using the Services User acknowledges and consents that use of Services may result in total loss of the Assets and/or value of those Assets due to factors that affect the price/value and overall performance of the markets in which the User is involved.

b) Volatility risks: In case of market Orders, the actual rate of trading Assets at which an Order is executed may be different rate indicated at the time when User’s Order was initiated, especially during periods of illiquidity, or volatility in the marketplaces for any Crypto-assets. Companies are not liable for any direct, indirect, incidental, special, or consequential damages or losses in profits, goods or services, which might occur due to any such price fluctuations.

Third-party exchange of Crypto-Assets: Companies give no guarantees with regards to the volume, price or other specifications on secondary exchanges and no warranties with regards to any exchange service providers or the price of Crypto-assets on such exchanges.

c) Legal risks: Due to the legal uncertainty in different jurisdictions on digital-ledger technology, there is a risk that in some jurisdictions Crypto-assets might be prohibited, considered as security, financial instrument or limited in any other way. Companies give no warranties or guarantees on the legal nature of Crypto-assets. All Users shall bear their own legal and financial consequences of Crypto-assets possibly being prohibited or considered as security, financial instrument or limited in any way in their respective jurisdiction. The legal ability of Companies to provide Services in some jurisdictions may be limited or eliminated by future regulation or legal actions. In that respect, Companies have total discretion to cease providing Services in any jurisdiction, or to adjust charging for Services in a way that complies with the regulation should that be possible and viable. Every User shall monitor at any time whether possession or disposal of Crypto-assets is legal in their jurisdiction. By accepting these Terms every User agrees and warrants that they will not possess Crypto-assets or use the Services should their use not be legal in the relevant jurisdiction.

d) Risks regarding the Ethereum protocol and blockchain technology: Any unexpected or unintended malfunction of those technologies or protocol can cause Crypto-assets or Services to malfunction or function in a different manner. Operator does not guarantee that in those cases Services shall operate without any disturbances, flaws, errors or defects and bugs that may intervene with the full functionality of Services. There are also potential risks with unfavourable regulation or governmental action in different jurisdictions that could in any way limit the use of the technologies and protocols. The Ethereum source code (or any other blockchain technology) could be updated, amended, altered or modified from time to time by the developers and/or the community of Ethereum. Also, other codes and protocols in the blockchain community, used by the algorithms can be altered the same. As a result, any update, amendment, alteration or modification could lead to an unexpected or unintended outcome that adversely affects our Services which might also affect the price/value and overall performance of the markets in which the User is involved. Any possible changes in the blockchain protocols could adversely impact the operation of our Services and could in the worst-case scenario, ruin the sustainability of the Services.

e) Risk of theft, hacking, mining attacks or loss: Hackers or other groups or organizations may attempt to interfere with the third-party wallets of Users, the Website, Services and/or Assets in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks. There are also other risks which could result in theft or loss of Assets such as unintentional security weaknesses or bugs on the Website, Platform and/or Apps, any advances in cryptography and other technical advances that could interfere with blockchain technology, Ethereum platform, Website, Services, Assets and other unexpected risks. There are also risks in the Ethereum network or any other network which the Services, Crypto-Assets and Assets interact with that can result in the loss of Assets. The Ethereum Platform and other blockchain networks are susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, selfish-mining attacks, and race-condition attacks, that could present a risk to Assets, price/value of Assets and overall performance of the markets in which the User is involved. Companies makes no warranty that the Website, Apps, Platform, Services, Crypto-Assets will be uninterrupted, free of viruses or other harmful code, timely, secure, or error-free.

f) Internet transmission risks: There are risks associated with using the Services, such as the failure of hardware, software, and internet connections. Companies shall not be responsible for any communication failures, disruptions, errors, distortions or delays Users may experience when using our Services, Website or using Crypto-Assets.

User acknowledges that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. User acknowledges and consents that Companies shall not be held responsible for any communication failures, disruptions, errors, distortions or delays, which User may experience when trading via the Services, howsoever caused.

Crypto-assets have special risks not generally shared with official currencies or goods or commodities in a market.

g) Cryptography risks: There are risks associated with cryptography, such as code cracking or technical advances such as the development of quantum computers, that could present risks to all cryptocurrencies including Crypto-assets and Services. This could result in the theft, loss, disappearance, destruction or devaluation of Services, Crypto-assets, including price/value of Assets and overall performance of the markets in which the User is involved.

h) Development failure or abortion: Due to the technological complexity and difficulty that may be uncertain, unforeseeable and/or insurmountable, the development of the Services could fail or abort at any time for any reason.

i) Risk of loss of value and uninsured losses: The value of Crypto-assets may fluctuate, and you may suffer loss in value either with using the Services and/or third-party markets or exchanges. In this regard, Companies do not hold any liability for any direct, indirect, incidental, special, or consequential damages or loses in profits, goods or services.

In addition to the risk of loss of value, Crypto-assets are entirely uninsured and are unlike bank accounts or accounts at some other financial institutions. Companies do not grant or assure any compensation for possible damages or loses, which might be directly, indirectly or consequently linked to actual losses or loses in profit in respect to Crypto-assets.

j) Unanticipated risks: Crypto-assets and blockchain technologies are new and untested technology and in addition to the risk outlined in these Terms, there are also unforeseeable risks that may materialize as unanticipated and might affect the price/value of Assets and overall performance of the markets in which the User is involved. It is impossible to predict the future of cryptography or the future of security innovations to an extent that would permit to accurately guide the development of Services to consider such unforeseeable changes in the domains of cryptography or security.

k) Fork policy: Hard forks are chain splits, where several post-fork chains are created with different characteristics, which may or may not be backwards compatible. These are usually meant to be protocol upgrades. A large majority consensus is achieved, and nodes immediately upgrade to the latest version of protocol software, and only the dominant blockchain remains active. 

Sometimes, however, the mining power is split between two or more post-fork competing chains, and it may not be immediately clear whether the secondary chain will be accepted by the market (foremost by the miners) in the long term.  

Depending on the market consensus prior to the fork, Companies will treat any secondary chains as a stand-alone coin and will decide on its listing if and when the new protocol proves to be stable and independent of any developments around the fork itself. As a matter of policy, Companies do not commit to credit forked coins to the original coin holders but will try to do so. The most certain way to receive the forked cryptocurrency is to withdraw the original coins to a private wallet. 

Companies will disable deposits and withdrawals of the original coin immediately prior to the fork, and keep them disabled until deemed safe. Trading with the original coin remains unaffected. Vital Market Wallet will announce exact timing thereof via webpage (www.vitalmarketwallet.trade) and/or email(info@vitalmarketwallet.trade) at least 24h prior to the fork. 

Please be advised that the network might be under heavy traffic before and around the fork, so transactions may be slow and/or expensive. In addition to other exclusions of liability as defined in these Terms, User acknowledges and agrees that Companies assume no liability for any failed deposits and/or withdrawals and or any kind of direct, indirect, incidental, consequential loss of funds or profits whatsoever resulting from fork-related network congestion or any other fork related scenario.  User acknowledges, agrees and warrants that he has been warned of the potential risks involved by using the Services, Platform and Assets and other relevant technologies mentioned herein as well as that there may be other risks involved, which are not specified herein and that you fully accept them as your risks without Companies being liable for any kind of direct, indirect, incidental, consequential damages or losses of funds or profits whatsoever.

8.3. There may be additional risks that we have not foreseen or identified in our Terms. You should carefully assess whether your financial situation and tolerance for risk is suitable for using our Services.

9. Limited right of use

9.1. All content on Website, Platform, Apps, graphs, source code, images, text materials, economic models, economic analyses, description of Services is fully and exclusively owned by Vital Market Wallet and its partners and protected by copyright, trademark and other laws that protect Intellectual Property rights. Any unauthorized use, public distribution, reproduction, alteration and/or transmission of copyrighted content in any form or by any means, without the prior written permission of Vital Market Wallet or its partners, except in the case of brief quotations embodied in critical reviews and certain other non-commercial uses permitted by copyright law is strictly forbidden.

9.2. Software solutions, inventions, operational techniques, discoveries, methods, compositions and other information connected or related to the Services and Website are intellectual property, fully and exclusively owned by Vital Market Wallet and its partners, regardless of the patentability, copyrightability or trademark ability.

9.3. Any unauthorized use of the Intellectual Property rights without prior, express and written consent by Vital Market Wallet and its partners is strictly forbidden. Vital Market Wallet and its partners reserves all rights, titles and interest to the Platform, Services, Website, and other associated Intellectual Property rights. Unless otherwise indicated, all copyright and other Intellectual Property rights in all content, software, tools and other materials contained on our Website, and Services, (collectively, “Materials”) are the property of Vital Market Wallet its partners, licensors or suppliers and you hereby agree to comply with all proprietary notices contained in these Terms.

9.4. Under no circumstances will these Terms be construed as a transfer or granting a license to any Intellectual Property rights or components thereof other than as specifically granted in these Terms. User agrees that Vital Market Wallet’s Intellectual Property rights may be used exclusively and only as provided in these Terms. All rights not expressly granted herein are reserved.

9.5. Companies grant the User who has successfully registered for an Account a limited, revocable, non-exclusive, non-transferable and non-sublicensable license to access and use the Platform and  Services for their personal and/or commercial use and strictly in accordance with these Terms and Ancillary policies. Such license is subject to these Terms and does not permit:

a) any resale, sublicense, lease or similar redistribution of the Materials or Intellectual Property rights or any part thereof,

b) the distribution, public performance or public display of any Materials or Intellectual Property rights or any part thereof,

c) copying, downloading, modifying, translating, transforming, publishing, transmitting, editing, transferring/assigning or otherwise making any derivative uses of the Materials or Intellectual Property rights or any portion thereof, or

d) any use of the Materials or Intellectual Property rights or any part thereof other than for their intended purposes.

9.6. The license granted under this section will automatically terminate if Companies suspend or terminate Users’ access to the Account and Services.

9.7. Access to external resources:Through Website, App and API Users may have access to external resources provided by third parties. Users acknowledge and accept that Companies have no control over such resources and is therefore not responsible for their content and availability. Conditions applicable to any resources provided by third parties, including those applicable to any possible grant of rights in content, result from each such third parties’ terms and conditions or, in the absence of those, applicable statutory law.

10. Liability

10.1. Companies and their officers, employees or agents are not liable to Users or anyone else for any of the following unless due to Companies’ gross negligence or wilful misconduct the following:

• damages that result from use or loss of use of Services,
• damages that result from misinterpretation or poor interpretation of these Terms,
• loss of Assets or other damages that result from any events which are considered as Risks with accordance to these Terms,
• loss of Assets or other damages that result use or loss of use of the Services and any other related products,
• loss of Assets or other damages that results from any malfunction or failure in the technical infrastructure of Services (including but not limited to the Companies’ computer infrastructure, programs, data, applications or networks), if such malfunction or failure arises in spite of Companies having adopted those measures that are reasonably necessary to protect such infrastructure against malfunction or failure, and to resolve the consequences of such malfunction or failure (the latter including but not limited to initiating and completing business continuity and contingency procedures),
• costs of procurement of substitute goods or services,
• loss of Assets or other damages that are arising in relation to any investments, expenditures, or any commitments of Users,
• loss of Assets or other damages that result from any unauthorized access to, alteration of, or the deletion, destruction, damage, loss or failure to store any data, including record, private key or other credentials, associated with the Services or Platform,
• loss of Assets or other damages that result from inaccuracies or typographical errors of the Services.

10.2. In any case, total aggregated liability under these Terms across all Companies is limited to 50.00 EUR per User.

11. Privacy policy

Please refer to the Privacy Policy for information about how we collect, use and share Personal information.

12. User responsibilities

12.1. Companies are vigilant in maintaining the security of the Platform and the Services. By registering an Account, User agrees to provide Companies with current, accurate, and complete information as prompted by the Account registration process, and to keep such information updated. User consents that he will not use any Account other than his own or access the Account or assist others in obtaining unauthorized access to the Services.

12.2. User is also responsible for maintaining the confidentiality of Account information, including password, and for all activity regarding the use of Services.

12.3. Companies may at any time request additional information from Users, including authenticating documents and is free to freeze any transactions pending review. User is obligated to comply with these security requests or accept termination of his Account. User is required to notify Companies immediately of any unauthorized use of the Account or password, or any other breach of security by email addressed to support@vitalmarketwallet.trade. Any User who violates these rules may result in termination of User’s Account and thereafter be held liable for losses incurred by Companies or any other User of the Platform.

12.4. User agrees that he will not use the Services to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking.

13. Termination

13.1. User may terminate this contractual agreement with Companies and close the Account at any time. To terminate the Account, User must contact support@vitalmarketwallet.trade. After the review of the Account and possible deduction Assets for possible outstanding Fees and costs, User shall be reimbursed with his Assets.

13.2. User consents that Companies may, by giving notice, in its sole discretion terminate Users access to the Account and use of Services including without limitation:

• terminate the Services,
• prohibit access to certain Services,
• delay or remove certain Services.

13.3. Under certain circumstances and at Companies’ discretion, Users Account can be terminated for any reason without prior notice, including without limitation for:

• using the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities,
• violating these Terms of Use,
• unauthorized access to the Platform,
• software security reasons,
• fraudulent deposits or withdrawals of Assets,
• unexpected operational difficulties,
• upon the request of law enforcement or other government authorities.

13.4. If User’s Account is suspended or terminated: (1) access to the Account and Services shall be restricted; (2) use of the Services shall be immediately stopped; (3) Assets shall be reimbursed as soon as possible.

14. Availability

14.1. All Services are provided without warranty of any kind, either express or implied. Companies do not guarantee that the Services shall be available all the time. Companies will strive to provide the Services as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions, or loss of transmitted information. Companies shall not be liable for any direct, indirect, incidental, special, or consequential damages or losses in profits, goods or services, which might occur due to such delays, failures, errors, omissions, or loss of transmitted information in respect of provision of Services.

14.2. Companies provide access to specific data and information through the API. Users are free to use these in their original unmodified and un-altered state.

14.3. Companies will use reasonable endeavours to ensure that User can access the Services in accordance with these Terms. Companies may suspend use of the Services for maintenance and will make reasonable efforts to give notice to the User. User acknowledges and consents that availability of Assets may not be possible in such or similar situations and Companies shall not be liable for any direct, indirect, incidental, special, or consequential damages or losses in profits, goods or services, which might occur due to events in respect of provision of Services and uninterrupted access to Assets.

15. No financial advice

15.1. Companies give no guarantees as to the value of any of the Crypto-assets on the possible secondary markets and explicitly warns Users that there is no reason to believe that Crypto-assets will increase in value, and they might also decrease in value or lose their value entirely on the secondary market.

15.2. For the avoidance of doubt, we do not provide any investment advice in connection with the Services contemplated by these Terms. Any decision to enter into a purchase or sale transaction is your decision, and we will not be liable for any loss suffered as a result thereof.

16. Notices

16.1. Companies can notify Users by posting a notice on the Website and/or Platform or sending it to an email address associated with the User’s Account. Notices posted on the Website will be effective immediately upon posting.

16.2. Users may contact us by email to support@vitalmarketwallet.trade. Notifications are only effective on business days as determined as such in Luxembourg.

16.3. All communications and notices to be made or given pursuant to these Terms must be made in the English language.

17. Indemnity

17.1. To the full extent permitted by applicable law, User agrees to indemnify Companies, their partners, their agents, representatives and employees against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or indirectly arising from the use of Services, purchase of any Assets, or from Users violation of these Terms of Use, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage.

18. Miscellaneous

19.1. Vital Market Wallet reserves the right to change, modify, add or remove portions of these Terms at any time at its sole discretion. The changes to the Terms will be effective immediately upon posting on the Website. Users should review these Terms periodically for changes. By accessing the Website, Platform and/or Apps and/or opening an Account and/or using Services, User agrees to the Terms.
19.2. None of the information located on the Website presents any investment decision, and no specific recommendations are intended. Vital Market Wallet expressly disclaim all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from reliance on any information contained in any materials and documents, issued by Vital Market Wallet, any error, omission or inaccuracy in any such information or any action resulting therefrom, or acquisition or usage of the Services.
19.3. These Terms should be interpreted and applied in accordance with all external documents where reference is explicitly made.
19.4. Vital Market Wallet is not liable for any delay or failure to perform any obligation under these Terms in case any of the Risks (section 7. of these Terms) occur, in case of electrical, technological or other utility failures, earthquakes, storms or other element of nature, embargoes, acts or orders of government, acts of terrorism or war, changes in legislation, changes in Ethereum or any other blockchain protocol or any other force outside of our control.
19.5. If any provisions of these Terms are held null or voidable, they are replaced with the provision that is closest to the meaning and effect of such provision and is interpreted to the intent of the original Terms. In any case, the rest of the Terms will remain in full force and effect.
19.6. Any disputes and claims arising out of or in connection with these Terms will be governed with the laws of Liechtenstein without giving effect to any conflict of legal principles that may provide for the application of the law of another jurisdiction. User agrees and warrants that you will not commence against the other a class action, class arbitration or representative action or proceeding. All disputes or claims arising out of or in connection with these Terms, including but not limited to its breach, termination, validity, nullity or any other disputes or claims arising out of or in connection with these Terms, Website, Apps, Platform, Services, Assets or any other matter shall be settled under the jurisdiction in Liechtenstein. Prior to filing any claims, you agree that you will not file such claims of requests before sending such claims to us to the email address: support@vitalmarketwallet.trade 30 days in advance.
19.7. Vital Market Wallet does not permit individuals under the age of 18 to open an Account or to use our Services. If Vital Market Wallet become aware that any person under 18 years old has provided Personal Information, Vital Market Wallet will delete such information from the files and block access of such persons to the Services.

18.1. User acknowledges that these Terms, including Ancillary policies might be subject to changes, modifications, additions, or removal of some portions of these Terms at any time. The changes to the Terms will be effective immediately following the publication of a notice of amended Terms, or Ancillary policies published on the Website and by User accepting the amended Terms and/or by using the Services under the provisions of amended version of Terms. By accepting these Terms User confirms that any notice of amendments of the Terms and Ancillary policies of the Terms shall not be disregarded by the User, whereby users acknowledges and agrees that by accessing the Website, Platform and/or Apps and/or opening an Account and/or using Services, User continuously indicates his consent to the Terms and corresponding ancillary policies which are integral part of these Terms including all amendments.

18.2. User acknowledges an agrees that all Services and associated rights, obligations with corresponding limitations provided by BTOps as an Operator pursuant to these Terms may also be provided by Vital Market Wallet as an Operator under same legal terms as BTOps, from time to time or continuously, which may be the case, in particular, when Vital Market Wallet completes the appropriate registration procedures for carrying out such activities as a VASP (virtual asset service provider) providing the services of exchange between fiat and virtual assets and that of safekeeping or administration of virtual assets or instruments enabling control over virtual assets, including custodian wallet services provider.

18.3. None of the information located on the Website presents any investment advice or solicitation or recommendation to make any investment, purchase, payment or subscription to any instrument, service or product whatsoever, and no content presented on Website should be understood as such. Companies, its representatives and employees expressly disclaim all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from reliance on any information, products or services contained in any materials and documents, issued by Companies, any error, omission or inaccuracy in any such information or any action resulting therefrom, or acquisition or usage of the Services.

18.4. These Terms should be interpreted and applied in accordance with all Ancillary policies and other documents where reference is explicitly made.

18.5. Companies are not liable for any delay or failure to perform any obligation under these Terms, if, including, but not limited to, any of the Risks cases (section 8. of these Terms) occur, in case of electrical, technological or other utility failures, earthquakes, storms or other element of nature, embargoes, acts or orders of government, acts of terrorism or war, changes in legislation, changes in Ethereum or any other blockchain protocol or any other force outside of our control.

18.6. If any provisions of these Terms are held null or voidable, they are replaced with the provision that is closest to the meaning and effect of such provision and is interpreted to the intent of the original Terms. In any case, the rest of the Terms will remain in full force and effect.

18.7. Any disputes and claims arising out of or in connection with these Terms will be governed by the laws of the Grand Duchy of Luxembourg, unless otherwise provided in Ancillary policies. All disputes or claims arising out of or in connection with these Terms, including but not limited to its breach, termination, validity, nullity or any other disputes or claims arising out of or in connection with these Terms, Website, Apps, Platform, Services, Assets or any other matter shall be settled under the exclusive jurisdiction of the courts of the City of Luxembourg, Luxembourg, unless otherwise provided in Ancillary policies. Prior to filing any claims, you agree that you will not file such claims of requests before sending such claims to us to the email address: support@vitalmarketwallet.trade 30 days in advance.

18.8. Companies do not permit individuals under the age of 18 to open an Account or to use our Services. If Companies become aware that any person under 18 years old has provided Personal Information, such information will be deleted from the files and block access of such persons to the Services.

Any questions relating to these Terms of Use, Users rights and obligations arising from these Terms and/or use of the Website and the Services, Account, or any other matter, contact support@vitalmarketwallet.trade.

In Luxembourg, on Nov 13, 2020

Annex I: Rulebook

1. Definitions

1.1. Definitions determined in this Rulebook complement the definitions in section 1 of Terms of use and vice-versa. This Rulebook forms an integral part of Vital Market Wallet’s Terms of use and shall be read and interpreted accordingly.

Assets mean Crypto-Assets and/or FIAT currency

Available Balance means User’s Assets less Tied Assets and Fees, available for trading

Base Asset means the Asset being traded on the Order Book – the first Asset in the Trading Pair

Crypto-asset means a blockchain-based digital currency, app coin or protocol token which is offered for trading on Platform.

Fiat Currency means government-issued currency, such as the Euro (EUR).

Fill is the action of completing or executing an order for a Trading Pair. An event that turns Open Order into a Trade.

Good till Cancelled is a Time in Force Instruction for the Order where the Order will remain open until Filled or cancelled by the User.

Limit Order means an Order to buy or sell a specified quantity of an Asset at a specified price.

Maintenance Schedule means a planned and notified period of time for the purposes of maintenance and/or upgrades of Services.

Market Data is the price and trade-related data for an Asset reported or provided by Vital Market Wallet.

Market Manipulation as defined under Regulation 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, while for the purposes of these Terms the term  “Financial instrument” as used in cited Regulation includes also the “Crypto-assets” as defined herein.

Market Order means an Order to buy or sell a specified quantity of Base Asset at the best available price within Protection Levels as defined below. In this matter also referred to as Market buy Order or Market sell Order.

Open Order means an Order which has been placed but not Filled, cancelled, or expired.

Order means a User’s binding instruction to buy or sell a specified quantity of the Base Asset at a specified price in the Quote Asset.

Platform means application, including but not limited to Apps on the Website, which provides the Services for Users with registered Accounts, as defined in these Terms of use.

Price-Time Priority means as described in section 5.2. of this Rulebook.

Protection Levels determine maximum price increase for a Market buy Order and maximum price decrease for Market sell Order from the current best bid/ask price as defined in article 4.6. of this Rulebook.

Quote Asset means the Asset in which trading is denominated on the Order Book – the second Asset in the Trading Pair.

Tied Assets means Assets allocated to an Order.

Total Asset Value means the gross value of all of a User’s Assets expressed in chosen FIAT Currency, based on the last trade price. This includes Tied Assets.

Trade means an execution of the User’s Order on the Platform.

Trading Pair means each pair of a Base Asset and a Quote Asset.

User means a natural or corporate person using the Platform as defined in these Terms of use.

2. Orders

2.1. To place an Order on an Order Book, a User must have Available Balance of the relevant Asset in their Account or on their UAB Payrnet account, which is sufficient to cover the total value of the Order plus any applicable Fees. FIAT assets must be available with the authorised institution which provides the payments services to the User via the API.

2.2. When a User places an Order, that quantity of the relevant Asset becomes Tied Asset, while a conditional payment order is created to be sent via the API to UAB Payrnet in the case that the Order is filled.

2.3. A User can place an Order as either a Limit Order or a Market Order.

2.4. A User may cancel an open Limit Order at any time before it is Filled. No fees are charged for cancelled Orders.

2.5. User cannot cancel or revert Orders that are already Filled.

3. Limit Orders

3.1. A Limit Order is an Order to buy or sell a specified quantity of an Asset at a specified price.

3.2. A Limit Order will only ever Fill at the specified price or a better price.

3.3. Good till Cancelled is a default Time in Force Instruction.

4. Market Orders with protection

4.1. A Market Order is an Order to buy or sell a specified quantity of a Base Asset at the best available price within the Protection Levels.

4.2. A Market Order may be Filled at a number of different prices by the Operator, based on the quantity of the Market Order and the liquidity available to the Operator on the trading venues and/or available liquidity provided by market makers at the time.

4.3. Depending on the liquidity available to the Operator on the trading venues and/or available liquidity provided by market makers at the time when a Market Order is posted, the Market Order may Fill at a price less favourable than the most recent trade price, unless such price reaches or exceeds the Protection Level(s).

4.4. A valid Market Order will be immediately Filled, if possible and within Protection Levels.

4.5. In case of absence of any available liquidity on trading venues accessible to the Operator, placement of Market Order in such Order Book will be rejected.

4.6. If individual Market Order were to be Filled at price equal to any of below specified Protection Levels, such Order obtains the properties of a Limit Order at the price equal to this Protection Level and to any of outstanding amount of Base Assets.

Protection Levels are laid out in Appendix I.

5. Execution and Price-Time Priority

5.1. The Operator Fills Orders based on Price-Time Priority.

5.2. Price-Time Priority means that each time an Order is posted:

a. The Order is Filled with the earliest in time Limit Order on trading venues at the best price; and

b. To the extent that the Order is not completely Filled by that Limit Order on trading venues, it is Filled with any subsequent Limit Orders at that price, in the sequence those Limit Orders were posted on trading venues; and

c. To the extent that the Order is not completely Filled by one or more Limit Orders described above, it is Filled with one or more Limit Orders at the next best price, in the sequence those Limit Orders were posted on trading venues, and this process is repeated until the Order is completely Filled, or until there is more no available liquidity on trading venues where the rest of the unfilled Order remains open.

5.3. All Users are subject to the same Price-Time Priority.

6. Fills and Settlement

6.1. An Order may be Filled by the Operator by one or more Orders at the same price.

6.2. The Operator settles all Filled Orders immediately, by debiting and crediting the relevant balances of Assets. The FIAT currency payment leg of the settlement is performed by UAB Payrnet after the Order is filled and the instruction from the User is delivered to UAB Payrnet.

6.3. Subject to daily withdrawal limits a User may immediately withdraw all Assets in their Account.

6.4. Withdrawals of FIAT currencies are provided directly by UAB Payrnet as an electronic money institution and payment service provider through the API technical integration provided by FinOps via the Website or Apps, where the UAB Payrnet as authorized electronic money institution payment institution is responsible for processing the payment transaction.

7. Price Improvement

7.1. Orders are Filled with the best available existing price available to the Operator on trading venues or provided to the Operator by market makers. This means that a Limit Order placed outside the market (i.e. a sell Order below the highest existing buy Order, or a buy Order above the lowest existing Sell Order) will be Filled by the best available existing Order rather than an existing Order with the same price as the Limit Order.

8. Order Parameters

8.1. Lot size regime: A lot size is the smallest possible Order amount of a Base Asset. All Orders placed to the Platform are subject to the lot sizes as laid out in Appendix II.

Lot sizes are enforced on the Base Asset. For example, orders can be placed in increments of 0.001 BTC, i.e. orders 0.001 BTC, 0.002 BTC, 0.5 BTC, 1 BTC, 1.001 BTC are acceptable, while 0.0015 BTC is not.

8.2. Order Maximums: The Platform has no maximum size limit by default, however, the Operator may cancel or reject a specific Order, if the Fill of such Order were to result in disruption of the Services.

8.3. Tick size regime: Tick size is the smallest possible price change (price interval) of a Base Asset. The minimum tick sizes are laid out in Appendix III.

Tick sizes is enforced on the Quote Asset of the relevant Trading Pair.

8.4. Prefunded accounts and reserved balance: When submitting a buy Order, a User needs to have their trading account sufficiently pre-funded with Quote Asset to (i) Fill the Order and (ii) pay the fees associated with the trade. Prefunding of FIAT currencies is a payment service and/or electronic money service provided by UAB Payrnet as an authorized electronic money institution and payment service provider to User through an API, a technical integration provided by FinOps as an authorised electronic money distributor of UAB Payrnet. The reserved balance is calculated as follows:

Reserved balance = (100% + Trading fee(j) + 0.01%) (Relevant price(i) * Amount(i))*

where:

• Trading fee(j) is the variable trading fee for the tier,
• Relevant price(i) is current Ask + Protection Level (for market Orders) or limit price (for limit Orders) for Asset i, and
• Amount(i) is the amount entered for an Asset i.

If the balance in the trading account is insufficient, the trade will be rejected.

9. Deposit and withdrawal parameters

9.1. Minimum deposit: the Operator does not enforce minimum deposits on Crypto-assets and other tokenized assets. The payment service provider might, however, enforce minimum deposits on FIAT currencies due to their terms and conditions when providing payment services.

9.2. Maximum deposit: the Operator does not enforce maximum deposits for Crypto-assets.

9.3. Blockchain confirmations: Each Crypto-asset deposit must be confirmed on the blockchain with a sufficient number of mined blocks before it is credited. Minimum block confirmations are laid down in Appendix V.

9.4. Minimum withdrawals: All Crypto-assets are subject to minimum withdrawals. Minimums are laid out in Appendix VI. FIAT currency withdrawals might have minimums based on the terms and conditions of the payment service provider.

9.5. Maximum withdrawals: the Operator does not enforce maximum withdrawals for Crypto-assets. FIAT asset withdrawals might have maximums based on the terms and conditions of the payment service provider.

9.6. Crypto-Assets withdrawal batching: All Crypto-asset withdrawals are batched at 5 min intervals.

9.7. Manual review: All deposits and withdrawals may be subject to manual AML/CFT requirements review. Affected Users will be notified by email. User acknowledges and agrees that the Operator shall make reasonable endeavours to process deposits and withdrawals of Crypto-assets in such cases within 48 hours (for Crypto-Assets), or in exceptional cases longer. In case additional information and documentation on the assessment of the individual transaction in more detail is required from the viewpoint of AML/CFT requirements and potential investigation of suspicion of money laundering, a predicate offence to money laundering, organised crime, or terrorist financing exists, the above period starts when the affected user delivers all such required information and documentation.

9.8. Withdrawal processing times: In addition to provisions set forth in article 9.6. and 9.7. of this Rulebook, user acknowledges and agrees withdrawals may take up to 48 hours (Crypto-Assets) or up to 5 business days (for FIAT currency where the User instructs the payment service provider directly through an API) to be processed in exceptional cases longer, whereby Companies make no warranties and representation in respect to the custody and transactions of FIAT currencies and such responsibility and liability is under the UAB Payrnet electronic money an payment institution.

9.9. Confirmation email: By default, withdrawals must be confirmed within 5 minutes via a link sent to the user’s email.

10. Market Integrity

10.1. All Fills are final and will not be reversed unless:

• the Operator is compelled to do so by any applicable law or regulation; or
• Due to a serious technical error, Orders or Fills do not occur as specified in this Rulebook – in which case the Operator will make all reasonable endeavours to restore all Users to the position they would have been in had the error not occurred.

10.2. The Operator may cancel Open Orders in the following circumstances:

• Orders placed by Users who, in our sole discretion, have engaged in abusive use of the Platform, for example, Market Manipulation, or using the API in a manner which unreasonably burdens the effective functioning of the Platform.
• Orders which under the circumstances involve an obvious error with respect to price, quantity, or other parameters – a ‘clearly erroneous transaction’.
• If required by any applicable law or regulation, including specifically where the Operator is required to suspend or terminate a User’s Account.
• If User violates the provisions of Terms of use and accompanying Ancillary policies.
• If required for technical reasons.

11. Access to the Platform

11.1. All Users have equal access to the Platform API and Web Interface. The Operator does not provide prioritized access to any User.

11.2. The Operator has the authority to take any action deemed appropriate to preserve market integrity. Such actions include, but are not limited to, the halting of trading, modifying risk-mitigating parameters, restricting User access to Platform, restricting order types to limit only, cancelling Open Orders, or any other actions deemed to be in the best interest of the trading platform.

12. Interruptions

12.1 If technical reasons prevent or degrade Users’ ability to place or cancel Orders, or prevent or degrade access to Platform API or the Web Interface or affect the operation of the trading Platform, then the Companies may, in their own discretion, take one or more of the following actions:

• Temporarily disable depositing or withdrawing Assets.
• Cancel Open Orders.
• Disable the ability to place new Orders.
• Disable sign-in.
• Disable the API to Platform.
• Disable access to the User interface of the Platform.

12.2. The Operator will notify Users of the above-mentioned actions via Website.

13. Market Manipulation Prohibited

13.1. Users are prohibited from engaging in Market Manipulation.

13.2. Market Manipulation means actions taken by a User or a person acting in concert with a User, which are intended to:

• Deceive or mislead the Operator or other Users;
• Artificially control or manipulate the price or trading volume of an Asset; or
• Aid, enable, finance, support, or endorse either of the above and may include actions on Platform and/or outside of Platform.

13.3. Market Manipulation specifically includes, without limitation: front-running, wash trading, spoofing, layering, churning, and quote stuffing.

14. Access to Information

14.1. All Users have full and equal real-time access to Market Data. Market Data is made available through the User Interface of the Platform or the Platform API.

14.2. Market Data comprises the following:

• All Limit Orders available to the Operator on trading venues or provided by market makers or liquidity providers (price, quantity, and time).
• All Trades (price, quantity, and time).

14.3. Market Data does not include any information about which User placed or cancelled order.

15. Maintenance Schedule

From time to time, the Platform may undergo a temporary downtime for maintenance or upgrades. Absent Extraordinary Circumstances as set out in article 16. of this Rulebook, the Operator will follow this process for closing and re-opening trading.

Step 1: Announce Maintenance Schedule at least 24 hours in advance via Website.

Step 2: Maintenance begins.

Step 3: Maintenance ends.

Step 4: At least 10 minutes after Step 3:

• Only Limit Orders accepted.
• Announce the above via Website.

To ensure a fair and orderly exchange of Assets, the Operator may in its discretion cancel all Open Orders before resuming full operations.

Step 5: At least 10 minutes after Step 4:

• All order types accepted.
• Announce the above via Website.

16. Extraordinary Circumstances

In extraordinary circumstances, including, but not limited to:

• Severe security breaches,
• Force majeure events,
• Judicial orders,

The Operator may, at its sole discretion, halt all of the operations on Platform for the necessary time to ensure fair and orderly exchange of Assets. In such case, the Operator will announce the above via Website, generally at least 24 hours in advance, if possible. Should the circumstances require immediate halt of the operations on the Platform, the Operator will publish the notification via Website retroactively without delay. The restart of the Platform operations will follow the steps 3-5 in 15. Maintenance Schedule.

Appendix I: PROTECTION LEVELS

Trading Pair	Protection Levels (% deviation from the current best bid/ask price)
BTC/EUR	1
ETH/EUR	1
ETH/BTC	2
XRP/EUR	1
XRP/BTC	2
XRP/ETH	2
LTC/EUR	1
LTC/BTC	2
LTC/ETH	2
BCH/EUR	1
BCH/BTC	2
XLM/EUR	1
XLM/BTC	2
XLM/ETH	2
BTT/ETH	2
BAT/ETH	2

Appendix II: LOT SIZES

Base Asset	Lot size (minimum quantity increment)
BTC	0.001
BCH	0.01
ETH	0.01
XRP	10
LTC	0.1
XLM	10
BTT	10
BAT	10

Appendix III: MINIMUM TICK SIZES

Trading Pair	Tick size (minimum price increment)
BTC/EUR	0.1
ETH/EUR	0.01
ETH/BTC	0.00001
XRP/EUR	0.00001
XRP/BTC	0.00000001
XRP/ETH	0.00000001
LTC/EUR	0.01
LTC/BTC	0.00001
LTC/ETH	0.00001
BCH/EUR	0.1
BCH/BTC	0.00001
XLM/EUR	0.00001
XLM/BTC	0.00000001
XLM/ETH	0.00000001
BTT/ETH	0.00000001
BAT/ETH	0.00000001

Appendix IV: MINIMUM DEPOSITS

Asset	Minimum deposit
EUR	1

Appendix V: MINIMUM BLOCK CONFIRMATIONS

Asset	Minimum block confirmations
BTC	1
ETH	10
XRP	3
LTC	6
BCH	12
XLM	3
BTT	10
BAT	10

Appendix VI: MINIMUM WITHDRAWALS

Asset	Minimum withdrawals
EUR	1
BTC	0.00005026
ETH	0.00301501
XRP	0.000051
LTC	0.00070351
BCH	0.00001006
XLM	1.00501
BTT	5.02500001
BAT	1.00500001

Annex II: Risk disclaimer

In consideration of Vital Market Wallet, BTOps, FinOps (collectively also referred as “we”, “our”, “us”, “Company”) under the registered trademark vitalmarketwallet.trade, and ancillary services, with the User(hereinafter referred to as the “you”, “your”), User acknowledges, understands and agrees that:

THIS RISK DISCLAIMER FORMS AN INTEGRAL PART OF THE TERMS OF USE AND THE RULEBOOK AND ANCILLARY POLICIES OF THE Vital Market Wallet PLATFORM AND SHOULD BE READ IN CONJUNCTION THEREWITH.

This notice provides you with a non-exhaustive information about the risks associated with the services associated with the use of the Platform and supplement the risks included in Terms of use and Rulebook and should be read and understood in conjunction therewith. Whenever in doubt you should seek professional advice.

It is important that the User fully understands the risks involved before deciding to use services associated with the use of the Platform. It is important that you remain aware of the risks involved, that you have adequate financial resources to bear such risks and that you monitor your positions carefully.

1. Definitions

Same as in the Rulebook and Terms of use.

2. Applicability

Subject to our obligations regarding AML/CFT requirements, any decision whether or not to open an Account, and whether or not you understand the risks involved, is solely borne by the User.

There are no limitations on deposits and withdrawals. It is up to an individual User to assess whether his/her financial resources are adequate for the level of risk taken.

3. General

Crypto-assets trading carries a high degree of risk. Your capital may be at risk, large or complete losses are possible.

4. External software flaws

Crypto-assets are characterized by open-source development, community consensus and semi-anonymity of project leaders. Unlike traditional financial instruments, there is usually no issuing entity. Should there be a flaw in the software code of an individual Crypto-asset, large or complete losses of your capital are possible. There is generally no legal recourse in such cases.

Though the Company conducts thorough due diligence, it assumes absolutely no liability, legal or otherwise, for capital losses stemming from such flaws in the software code of the instruments it lists.

5. Trading Platform

The User is warned that when trading in an electronic platform he assumes risk of financial loss which may be a consequence of amongst other things:

• Failure of User’s devices, software and poor quality of connection;
• Company’s or User’s hardware or software failure, malfunction or misuse;
• Improper work of User’s equipment;
• Wrong setting of User’s interface;
• Delayed updates of User’s interface;
• Abnormal market conditions;
• Severe security breaches;
• Force majeure events;
• Judicial orders;

Though the Company conduct its operations with due care and skill, it assumes absolutely no liability, legal or otherwise, for capital losses or losses of profit stemming from the factors above, except to the extent that it is caused by the fraud, intent or gross negligence by the Company.

6. Price slippage and Order book depth

Slippage is the difference between the expected price of a transaction, and the price the transaction is actually executed at. Slippage often occurs during periods of higher volatility, making an Order at a specific price impossible to execute, when market Orders are used, and also when large Orders are executed when there may not be enough interest at the desired price level to maintain the expected price of trade.

Each User should check market metrics before placing a specific trade, notably order book depth and trade volume, as well as educate him-/herself about the properties about the individual order types. The Company assumes absolutely no liability, legal or otherwise, for capital losses stemming from price slippage and order execution. Such trades, unless clearly erroneous as defined in the Rulebook, will not be rolled back

7. Order execution in abnormal market conditions

The User acknowledges that under abnormal market conditions the latency between Order submission and execution may be extended or it may be impossible for Orders to be executed at declared prices or may fail to execute.

8. Position monitoring

Because cryptocurrencies may exhibit high price volatility and therefore the speed at which profits or losses can be incurred it is important that you monitor your positions closely. FinOps, Vital Market Wallet and/or BTOps are not liable for any damages or losses whether indirect, incidental, special or consequential, in profits, goods or services, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage.

9. Operational risks

Operational risks regarding functionality of User’s electronic device through which he/she accesses the Platform, as well as the Platform’s internal system setup, are inherent in every transaction. Disruptions in Company’s operational processes such as communications, computers, computer or mobile networks or external events may lead to delays in the execution and settlement of a transaction. Except to the extent that it is caused by the fraud, negligence or dishonesty by the Company, the Company assume absolutely no liability, legal or otherwise, except to the extent that it is caused by the fraud, negligence or dishonesty by the Company, in relation to the operational processes failures, including, but not limited to:

• In connection with the use of computer equipment and data, the User bears the following risks amongst other risks, in which cases the Company has no liability of any resulting loss;
• Power cut of the equipment on the side of the User or the provider, or communication operator (including voice communication) that serves the User;
• Physical damage (or destruction) of the communication channels used to link the User and provider (communication operator), provider, and the trading or information server of the User;
• Outage (unacceptably low quality) of communication via the channels used by the User, or the Company or the channels used by the provider, or communication operator (including voice communication) that are used by the User or the Company;
• Wrong or inconsistent with requirements settings of the User Interface;
• Untimely update of the User Interface;
• The use of communication channels, hardware and software, generate the risk of non- reception of a message (including text messages) by the User from the Company;
• Malfunction or non-operability of the Platform, which also includes the User Interface.

10. Digital asset custody

Due to market specifics, all Users’ Crypto-assets have to be stored internally. The Company will undertake highest care and diligence regarding access procedures and technological protective measures against security breaches, hacks and related attacks. The Company, however, assumes absolutely no liability, legal or otherwise, for any losses stemming from such breaches, except to the extent that it is directly caused by the fraud, intent, gross negligence by the Company.

11. Quoting errors

Should a quoting error occur, the Company is not liable for any resulting errors in account balances and reserves the right to make necessary corrections or adjustments to the relevant Account. Any dispute arising from such quoting errors will be resolved on the basis of the fair market value, as determined by the Company in its sole discretion and acting in good faith, of the relevant market at the time such an error occurred.

This may or may not adversely affect the User’s realized and unrealized gains and losses.

12. Communication between the User and the Company

The User shall accept the risk of any financial losses caused by the fact that the User has received with delay or has not received at all any notice from the Company.

The User acknowledges that the unencrypted information transmitted by e-mail is not protected from any unauthorized access.

13. Compromised Accounts

The Company takes no responsibility if unauthorized third persons have access to information, including electronic addresses, electronic communication and personal data, access data when the above are transmitted between the Company and the User or when using the internet or other network communication facilities, or any other electronic means. Furthermore, while the Company will undertake all reasonable measures to lock/freeze a compromised Account, the Company takes no responsibility for damages, losses whether indirect, incidental, special or consequential, in profits, goods or services, irrespective of whether or not the User has been advised or otherwise might have anticipated the possibility of such loss or damage, and which might occur in respect with the trades, deposits and withdrawals that have been executed with User’s stolen credentials.

14. Force majeure events

In case of a Force Majeure Event the Company may not be in a position to arrange for the execution of User Orders or fulfil its obligations under the agreement with the User. As a result, the User may suffer financial loss.

Without prejudice to the limitations of liability of the Company as set out in other provisions in Terms and Ancillary policies, User acknowledges and agrees that The Company is not liable or have any responsibility for any type of losses (including but not limited to loss of profits) or damages arising out of any failure, interruption, or delay in performing its obligations under the Terms and Ancillary policies where such failure, interruption or delay is due to a Force Majeure event.

15. Currency risk

Users should be aware that trades denominated in a currency other than their home currency have the additional risk associated with currency fluctuations, especially if such quote currency is itself a Crypto-asset.

16. Non-advice and recommendations

The Company will not advise the User about the merits of a particular transaction or give him any form of investment advice and the User acknowledges that the Services do not include the provision of investment advice neither in markets that the Company operates in in general. The User alone will enter into Transactions and take relevant decisions based on his own judgement. He represents and warrants that he has sufficient knowledge, market sophistication, professional advice and experience to make his own evaluation of the merits and risks of any transaction. The Company gives no warranty as to the suitability of the products traded under these Terms and accompanying Ancillary policies and assumes no fiduciary duty in its relations with the User.

The Company will not be under any duty to provide the User with any legal, tax or other advice relating to any Transaction. The User should seek independent expert advice if he is in any doubt as to whether he may incur any tax liabilities. The User is hereby warned that tax laws are subject to and may change from time to time.

17. Taxes

There is a risk that the User’s trades in any respect of Crypto-assets may be or become subject to tax and/or any other duty for example, due to changes in legislation or User’s personal circumstances. Companies do not offer tax advice and If any taxes apply for using the Services, it is the User’s responsibility to report and remit the correct tax to the appropriate tax authority. User agrees that Companies are not responsible for determining whether taxes apply for the Services used or for collecting, reporting, withholding or remitting any taxes arising from the use of Services.

18. Newsletter

The Company may, from time to time and at its discretion, provide the User with information, news, market commentary or other information, either in direct communication or in public posts. Where it does so:

• The Companies will not be responsible for such information;
• The Companies give no representation, warranty or guarantee as to the accuracy, correctness or completeness of such information or as to the tax or legal consequences of any related trade, exchange or transaction within the use of Services;
• This information is provided solely to enable the User to make his own investment decisions and does not amount to investment advice or unsolicited financial promotions to the User;

If the document contains a restriction on the person or category of persons for whom that document is intended or to whom it is distributed, the User agrees that he will not pass it on to any such person or category of persons.

It is understood that market commentary, news, or other information provided or made available by The Company are subject to change and may be withdrawn at any time without notice.

19. No guarantees of profit

The Companies provide no guarantees of profit nor of avoiding losses when trading. User has received no such guarantees from the Companies or from any of its representatives. User is aware of the risks inherent in trading and is financially able to bear such risks and withstand any losses incurred.

Annex III: Refund policy

1. Definitions

Chargeback – means the return of the User’s money by his/her Bank due to the disputed and/or fraudulent transaction.

Eligibility criteria – means the set of requirements that must be met for a Refund.

Refund – means giving back the amount of Transaction fee paid by the User with regard to certain Transaction, unless otherwise specified herein.

Transaction fee – a fee charged per each Trade as a percentage of quote asset in accordance with Fee schedule.

All other terms and definitions in this Refund Policy are used in the same meaning as under the Terms of use and the Rulebook.

2. Preliminary provisions

Without prejudice to the limitations of liability of the Company as set out in other provisions in Terms and Ancillary policies, the Companies guarantee to any User his or her right to claim a Refund, in case of evident of non-performance or performance with substantial defects of obligations of the Companies pursuant to conditions as set out in Terms and Ancillary policies, and such non-performance or performance with substantial defect is evidently attributed to Companies’ gross negligence or wilful misconduct.

Every Refund claims are treated by the Companies with reasonable care and diligence.

This Refund Policy concerns exclusively Transaction fees, unless otherwise specified herein.

This Refund Policy does not cover other costs out of the control of the Platform, associated with any trades of Crypto-assets and/or  FIAT currencies on the Platform, as well as fees charged by third-party intermediaries (i.e. payment processors, banks, cryptocurrency mining fees etc.).

Trades will not be rolled back unless for exceptional circumstances as defined in the Rulebook.

Users have the possibility to withdraw any funding they deposited in their trading account. Restrictions as defined in Terms of use and/or Trading Rulebook apply.

The Operator will generally deposit refunds to Users’ trading accounts in the Crypto-asset used to purchase the Services (unless mutually agreed otherwise), from where Users are able to withdraw the funds. Restrictions as defined in Terms of use and/or Trading Rulebook apply.

3. General

The User who has purchased the Services, i.e. paid a Transaction fee, may request a Refund in accordance with the Eligibility criteria as further set out herein.

Refund will only be considered where the User complies with the Eligibility criteria in full. Where the User fails to meet any of the Eligibility Criteria, the Operator shall have the right, in its sole discretion, to decline the User’s request for a Refund.

In order to apply for a Refund, the User must make a claim to support@vitalmarketwallet.trade describing the situation in full detail

To prevent fraudulent or illegal activity, all payments and information related to Refund claims may be verified by the Operator. In such case, the Operator may request the User to provide certain documents, including, but not limited to, identification documents, copy of the User’s Payment Card and Invoice or/and any other prove of the fact that disputed payment was made. In case if the User fails to provide appropriate documents or information within three (3) days upon the request or in case of any doubts as to authenticity of provided documents, the Operator shall be entitled to decline the User’s Refund request.

The Operator shall process the User’s Refund claim as soon as is reasonably practicable. Response times will vary depending on stated reasons for the request. In any case, the Operator shall notify the User on the outcome of the request in accordance with the timescales set out herein.

Refund request will only be approved or declined after meticulous verification made by the Operator. Submission of Refund claim does not guarantee that the User’s request will be satisfied. Any claim is subject to an appropriate internal investigation.

4. Right of withdrawal

The User explicitly acknowledges and agrees that “right to withdrawal” from which consumers benefit in accordance with Art. 9 Directive 2011/83/EU of the European Parliament and of the Council of 25 October 2011 and national transpositions thereof (herein referred as: Consumer Directive) is not applicable to his complete or pending Orders or other transactions or purchases executed on Platform due to the following exemptions provided in article 16 of the Consumer Directive, under which the right to withdrawal in respect of distance and off-premises contracts is exempted if it regards:

• the supply of goods or services for which the price is dependent on fluctuations in the financial market which cannot be controlled by the trader and which may occur within the withdrawal period; and/or
• the supply of digital content which is not supplied on a tangible medium if the performance has begun with the consumer’s prior express consent and his acknowledgment that he thereby loses his right of withdrawal.

As such, a »sales contract« as defined in the Consumer Directive is considered any of the following: deposits, withdrawals, trades of any asset on the Platform or any other action resulting in change of ownership of any asset on the Platform, where abovementioned exemption applies. For the avoidance of doubt, User also explicitly acknowledges and agrees that all Services available on Platform had begun and been fully performed with the User’s prior express consent, and with the acknowledgement that he will lose his right of withdrawal once the contract in sense of executing Orders has been fully performed.

5. Eligibility criteria

All requests for Refund will only be accepted where the claim is received by the Operator no later than twenty-four (24) hours after made transaction.

Claims should be sent to support@vitalmarketwallet.trade with ‘Refund Request’ in the subject line

6. Processing timeline

If the information and/or documentation accompanying the Refund claim is incomplete:

• After a claim has been sent to support@vitalmarketwallet.trade in accordance with the time limits set out above, the Operator may contact the User within ten (10) days, with a request for additional documentation and/or information if necessary.
• Users then have three (3) days to submit the relevant documentation and/or information.
• After the User has supplied all required information, the internal investigation procedure will initiate, which may take up to twenty (20) days.

If the information and/or documentation accompanying the Refund claim is complete:

• After a claim has been sent to support@vitalmarketwallet.trade in accordance with the time limits set out above, the internal investigation procedure will initiate, which may take up to twenty (20) days.

At the end of the investigation, the Platform will notify users of the outcome.

It may then take up to ten (10) days to receive the Refund to the User’s Trading account.

7. Disqualifying events

The User loses the right to a Refund if:

• when requested by the Operator to do so, the User fails to provide the information or/and document(s) within the terms set herein.
• the Operator suspects that the User has, or is, engaged in, or have in any way been involved in, fraudulent or illegal activity, including, but not limited to, market manipulation and insider trading, or that he violated other provisions of the Terms and accompanying Ancillary policies.

The Operator reserves the right to lock the User’s Funds while Refund investigation is in process, which means that the Funds could be inaccessible during such investigation.

8. Chargebacks

The Operator expects the User to contact it to resolve any problem or issue related to his/her payments before the User makes any Chargeback request. This Section does not affect any rights and/or claims, which the User may have against the bank/financial institution.

The Operator will investigate any Chargeback requests made by the User and in response will inform the User’s bank whether any Service or Transaction has been cancelled.

The Operator reserves the right to suspend User’s account and lock User’s Funds during the chargeback investigation procedure.

9. Other forms of refund

By accepting the Terms of use and by transferring any FIAT currency amount to the registered account held and provided by UAB Payrnet through technical connectivity integration provided by FInOps, the User transmits his instruction through FinOps’s technical integration module as an electronic money distributor to immediately process his withdrawal request (of his net FIAT currencies) at a UAB Payrnet as an electronic money institution, which FinOps is the distributor of. In case of any disruptions (legal or technical) in respect of FIAT currency transactions, held at Users account held at UAB Payrnet, the User is allowed to address his/her claim directly to the UAB Payrnet as an electronic money and payment service provider or another competent institution.

By accepting the Terms of use and by transferring any FIAT amount to the registered account held and provided by UAB Payrnet through technical connectivity integration provided by FInOps, the User acknowledges and agrees that any of deposited FIAT currency can be used exclusively for trading in respect of the use of Services in accordance with Rulebook, Terms of use and accompanying Ancillary policies.

10. Miscellaneous

Any charges, which arise upon processing Refund/Return, shall be borne solely by the User. Such charges will be deducted from the final amount of Refund/Return.

This Refund Policy will be amended from time to time if there is any change in the legislation. This Refund Policy is subject to change by the Companies and in the case of any amendments, the Operator will make an appropriate announcement pursuant to conditions set out in Terms.

In case the User does not wish to accept the revised Refund Policy, he/she should not continue to use the Services. If the User continues to use the Services after the date on which the change comes into effect, his/her use of the Services is bound by the new Refund Policy.