- Referral Program
- Anti-Money Laundering Policy
Last updated on June 30, 2020
ATTENTION: PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE WEBSITE. BY ACCESSING, BROWSING, OR REGISTERING TO USE OUR WEBSITE YOU AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS, PLEASE DO NOT ACCESS OR USE THE SERVICES.
Our Services are intended solely for users who are 18 or older. If you are suspected of being younger than 18 years of age, we will require you to close your account and will not allow you to continue using our Services.
We may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit the use of all or a portion of the Services from Restricted locations listed at the Website. The availability of certain locations may change from time to time and without notice due to regulatory requirements, conditions in jurisdiction or circumstances otherwise beyond our control. Always check our Website for a list of currently Restricted locations.
We are not responsible for any losses or damages that may arise directly or indirectly from bans or restrictions imposed on the Digital Currencies by your local government. You agree that in the course of using our Services and/or interactions with Alfacash you will not violate any law, infringe any copyright or patent of any kind, act in a defamatory or threatening manner, and/or attempt to take any action that may harm our interests directly or indirectly through abuse of our Services or the Website. If you do not meet these eligibility requirements, do not use our Services.
Description of Services
Our Services consist in providing you the possibility to enter into transactions for the purchase or sale of digital assets available on the Website. The purchase or sale order is submitted by filling in all the fields in the dialogue box and by crediting us with digital assets or other funding. In certain cases you cannot submit an order unless you register a Personal account. You have 15 minutes to complete your order and transfer funds, otherwise your order will be automatically recalculated to reflect the updated exchange rate at the moment of order completion.
You agree to pay Service fees according to our fees schedule. We are entitled to review from time to time Service fees at our own discretion. The updated Service fees will apply prospectively to any transactions that take place following the effective date of such updated Service fees schedule.
We provide Services with respect to digital assets which do not fall under the definition of financial instruments or e-money under applicable laws and regulations.
We warn you about the risks of digital assets trading. By using the services of Alfacash you acknowledge and accept any risks associated with the transactions, agree to be bound by the Terms, and acknowledge and accept the following and any other risks.
Exchange rates have exhibited strong volatility, and extreme swings in price may occur at any time, resulting in potential loss of purchasing power. Digital assets trading may not be suitable for all investors. If you have any concerns, please obtain advice from a qualified financial advisor.
Any data, prices, news, opinions, researches, analyses and/or any other information contained on the Website is provided as general market commentary, and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
The content on the Website is subject to change at any time without notice, and is provided for the sole purpose of assisting you to make independent decisions. We do not guarantee the accuracy or timeliness of the information on the Website and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the Website, for any delay in or failure of the transmission or receipt of any instruction or notifications sent through the Website.
We inform you that past performance does not guarantee future success so you need to consider a number of factors to build up a strong investment strategy. Before starting to use our Services, please consider your financial position. Please be rational and do not invest money you cannot afford to lose. You should be aware that no refund or reimbursement is possible, and no private or public insurance company will indemnify you for losses.
Taxation of digital assets has very limited or no regulation by governmental and tax agencies in most jurisdictions. You may be subject to certain tax implications when buying or selling digital assets.
It is your responsibility to determine what taxes apply to the transactions and accounts you utilize as a part of the Services, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. We are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction. You warrant that you are acting legally in accordance with any applicable international, federal, state or local tax laws or regulations.
We encourage you to frequently review and rely on guidance issued by competent authorities for taxpayers who engage in transactions involving virtual currency. For tax purposes, exchange of virtual currency may treated as supply of service, sale of property or exchange of foreign currency. General tax principles applicable to these types of operations may apply to transactions using virtual currency.
We are not giving tax advice by allowing you to use our Services.
You warrant that you are acting legally in accordance with any applicable international, federal, state or local tax laws or regulations.
Use of the Personal account
Our verification procedures include:
Mobile phone number validation
You enter your mobile phone number in the Personal account, receive an SMS with a verification code on the mobile phone number and enter the code in the Personal account.
You upload a scanned copy of your primary identification document (e.g. passport, identity card, driver's license) to the Personal account. Such documents shall have a photo, signature and validity period (that shall not expire earlier than 6 months after the verification).
Proof of residential address
You upload a scanned copy of any document supporting your residential address (e.g. utility bills, registration at the residential address etc.).
You represent and warrant that all information provided to us pursuant to these Terms is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.
You acknowledge that in order to conduct the above-mentioned verification procedures, we may perform inquiries, directly or indirectly through third party service providers to prevent misidentification, fraud, suspicious activity, money laundering or any other forbidden activity. You hereby authorize us, or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and to take any action we deem necessary based on the results.
You are solely responsible for keeping, protecting and safeguarding your password and username (login) that have been provided to you or that are generated in connection with your use of the Services. If you lose your password and username (login), you may not be able to access your account. You agree to notify us immediately of any unauthorized use of your Personal account. We will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Personal account.
If you are using our Services on behalf of a legal entity, you further represent and warrant that: (i) the legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its incorporation, and (ii) you are duly authorized by such legal entity to act on its behalf and make transaction in the Personal account. We expressly reserve the right to make additional verification of your Personal account and request additional information and documents if you are using our Services on behalf of a legal entity.
Creation of the Personal account on the Website is not required to get access to information about exchange rates, statistics and legal notices published on the Website.
Anti-money laundering requirements
We take all appropriate measures and implement best standards to comply with all applicable laws and regulations regarding Anti-Money Laundering ("AML"). We will make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using our Services.
e are further required to obtain and record information and documentation that helps to confirm your identity or provides additional information regarding your use of the Services. If we cannot confirm this information, we may require additional documents to verify your identity. We may ask for this information at any time before, during or after your use of the Services.
We also may request information from you as a result of our name screening processes, for investigative purposes related to you or to another user, or as a randomly sampled test of the accuracy of our processes. In the latter case, we may require documentation from you at no fault, and ask you to furnish it with or without a reason provided.
While we may delegate day-to-day operational duties to the third party service provider (i.e. for effective risk management in selected jurisdictions), the responsibilities for maintaining effective oversight and governance of outsourcing arrangements, managing outsourcing risks, and implementing an adequate outsourcing risk management framework, continue to rest with the Company and its senior management.
We inform you that due to the nature of digital assets all transactions are final and irrevocable.
Funds traded through the Alfacash are not eligible for a refund. Once you initiate a transaction with a digital asset, we fix the exchange rate and process the transaction, so you cannot cancel it at any time. The transaction may only be offset at our current asking price.
In any case we will not be held responsible for your errors, including but is not limited to, errors in entering trade prices, errors in requested withdrawal addresses, errors in deposit transactions.
In exceptional cases, we may consider your refund request and decide at its own discretion. These exceptional cases are limited to serious payment delays, abnormal rate fluctuations or any guilty actions of third parties. Herewith, Alfacash may ask you to confirm or cancel the transaction if the exchange rate has changed significantly when the above mentioned force majeure took place. Please note that in such cases Alfacash will deduct all applicable costs and fees related to the refund.
Refund requests must be submitted within 5 working days of completing the original funding. Please submit a ticket to our support staff at the Website. All refund requests will be processed using the same payment method as the original funding.
We believe that it is our goal to secure information relating to your use of our Website and Personal account. As a result, we make reasonable efforts to maintain an information security management system; to control its information with strong controls; to continuously offer training to our personnel on information security; to prevent unauthorized access, leakage, modification, theft/loss, denial of service attacks, or any other security threat; to identify and limit the incidence of information security breaches; to proactively address laws and regulations in each jurisdiction in which we operate relating to information security standards and requirements.
We reserve the right to close your Personal account, access to the Website, or access to the Services for any reason and at any time, returning to you any funds clearly and unambiguously owed to the most recent contact information you have provided. You indemnify us against losses taken pursuant to closure or returns of this type.
You shall indemnify Alfacash and our agents (if any), employees, officers, directors, affiliates, subsidiaries and successors, and hold them harmless from and against all third-party claims except those resulting solely from our breach of the Terms. Similarly, Alfacash shall indemnify and hold harmless you and your agents, employees, officers, directors, affiliates, subsidiaries and successors from and against all third-party claims except those resulting solely from your breach of the Terms.
We shall not be liable for any delay or failure in the performance or in the delivery or shipment of digital assets, or for any damages suffered by you by reason of such delay or failures, directly or indirectly caused by or in any manner arising from or connected with acts of God, acts of public enemies, riots, strikes, acts of governmental agencies, labor difficulties, failure of our power, telecommunications or other suppliers, delays in securing or shortages of raw materials, breakdown or destruction of any system or equipment or any other cause or causes beyond our control of any kind.
We grant you a limited, nonexclusive, non transferable license, subject to these Terms, to access and use the Website and Services, solely for approved purposes as permitted by Alfacash. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of our materials.
Governing law and dispute resolution
You agree that Belize laws, excluding conflict of laws provisions, will govern these Terms and all matters arising out of this document. The parties expressly agree to venue in courts located in Belize and waive any objection based on personal jurisdiction.
You guarantee that you are not subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”); no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving you with respect to U.S. sanctions administered by OFAC is pending or, to your knowledge, threatened; and you have not directly or indirectly lent, contributed or otherwise made available funds to any party, joint venture partner or other person or entity, for the purpose of financing the activities of any person that would, if undertaken by a U.S. person as defined in the U.S. sanctions administered by OFAC, be prohibited by any U.S. sanctions administered by OFAC.
You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Algeria, Bangladesh, Bolivia, Central African Republic, Cambodia, Cuba, Egypt, Iran, Iraq, Lebanon, Liberia, Libya, Democratic Republic of the Congo, Maldives, Morocco, Namibia, Nepal, North Korea, Pakistan, Sudan, Syria, Somalia, Venezuela.We maintain the right to restrict or refuse its services in these jurisdictions.
Changes to the Terms
We may modify these Terms by providing notice of such changes, such as by sending you an email, providing notice through the Services, or updating the "Last updated" date at the top of these Terms. By clicking on an "I Agree" button or checkbox presented with the modified Terms, or by continuing to access or use the services, you confirm your agreement to the modified Terms. If you do not agree to any modification to these Terms, you must stop using the Services. We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your use of the Services.
The Terms and any legal relationship arising out of this document shall be governed by and construed in accordance with the laws of Estonia. You agree to settle all their disputes arising out of or in connection with the Terms in accordance with the laws of Estonia.
The invalidity or unenforceability of any provision of the Terms shall not affect the validity or enforceability of any other provision of the Terms, which shall remain in full force and effect.
Our failure to exercise any right arising out of a violation of the Terms committed by you shall not operate as a waiver. We reserve the right to resort to any remedy at any time to protect its interests and intellectual rights to the protected elements of the Website.