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.
By accessing or using the Website, you represent and warrant that you are a resident of the United States of America and will use our Services as described in these Terms. You specifically represent and warrant that you are not: (a) located in, under the control of, or a national or resident of any country to which the United States of America has embargoed goods or services, (b) identified as a “Specially Designated National” or (c) placed on the Commerce Department's Denied Persons List.
You also may not use the Services if you are located in, or a citizen or resident of, any other jurisdiction where Alfacash has determined, at its discretion, to prohibit use of the Services. Our services in the United States of America are not available for residents of the following states: Alabama, California, Colorado, Connecticut, Florida, Georgia, Hawaii, Idaho, Maryland, Nebraska, Nevada, New Mexico, New York, North Carolina, Oregon, Pennsylvania, South Carolina, Vermont, Virginia, Washington. We may implement controls to restrict access to the Services from any jurisdiction prohibited pursuant to this.
We are not responsible for any losses or damages that may arise directly or indirectly from bans or restrictions imposed on digital assets by US Government, federal agencies or state authorities. 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 5 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.
The scope of our Services is limited to exchange of digital assets only. Neither of our Services will allow you to trade digital assets for US dollars or any other government currency.
You agree to pay Service fees according to our 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 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.
Digital assets are not issued or backed by the US Government, or related in any way to US official currency, and have fewer regulatory protections. The value of digital assets is derived from supply and demand in the global marketplace which can rise or fall independently of any government currency.
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 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 you 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.
We are not your broker, agent or advisor and have no fiduciary relationship or obligation to you in connection with any transaction, decisions or activities affected by you using the Services. No communication or information provided to you by Alfacash is intended as, or shall be considered or construed as, advice.
Taxation of digital assets has very limited regulation by the IRS. 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.
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 document 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 any 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 abovementioned 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 protect ourselves from involvement in any activity that facilitates money laundering or other criminal activities by following the FinCEN interpretive guidance for service providers operating in the United States. We bear responsibility to crosscheck your personal information against governmental watch lists such as the Specially Designated Nationals and Blocked Persons List (“SDN”) maintained by the Office of Foreign Assets Control (“OFAC”) within the U.S. Department of Treasury, as well as through the utilization of 3rd party identity verification and authentication services. If you or your transaction is flagged as suspicious through our internal controls, we will require additional proof of identification and have the right to not permit any transactions until additional and verifiable proof of identity satisfactory to Alfacash in its sole discretion is received.
By agreeing to the Terms, you acknowledge and understand that Alfacash maintains verification levels which require your participation and verification in order to obtain, with leveled permissions based on supplied information, our ability to verify it, and our internal policies. You accept that you may not be able to achieve a desired level of verification, and we reserve the right to determine, at its sole discretion, the appropriate verification level. We are able implement policies restricting verification levels and criteria by nationality, country of residence, or any other factor.
You may be required to file details of your transactions to FinCEN from time to time. We may also be required to provide information to government agencies as required by law to other state or federal agencies
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.
Virtual currencies are digital assets, transactions (either completed or pending) of which are irreversible by the nature of the technology itself. You acknowledge that exchange rates are highly volatile within the virtual currencies market, what makes the refund mechanism sometimes impossible for both parties. Virtual currencies sent to incorrect addresses are considered lost and cannot be retrieved from within the blockchain. You acknowledge that Alfacash is not responsible for any risks associated with the transactions within the blockchain.
Basically, all funds (either virtual currencies or fiat) 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.
In exceptional cases, we may consider your refund request and decide at its own discretion in 5 working days. These exceptional cases are limited to serious payment delays, errors that occurred solely due to incorrect functioning of Alfacash website, or any guilty actions of third parties. Please note that in such cases Alfacash will deduct all applicable costs and fees related to the refund. You acknowledge and agree that there is a respective fee that Alfacash will charge accordingly for each refund which is 5% in addition to any external fees.
Refund requests must be submitted within 5 working days of completing the original funding. To request a refund, you should send us an email to [email protected] and indicate your transaction details. All refund requests will be processed using the same payment method as the original funding.
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.
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 us 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 Alfacash breach of the Terms. Similarly, we 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 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, nontransferable 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 the our materials.
If you believe anything on the Website infringes upon any copyright which you own or control, you may file a notification of such infringement. Please see 17 U.S.C. §512(c)(3) for the requirements of a proper notification. You should note that if you knowingly misrepresent in your notification that the material or activity is infringing, you will be liable for any damages, including costs and attorneys' fees, incurred by us or the alleged infringer as the result of our relying upon such misrepresentation in removing or disabling access to the material or activity claimed to be infringing.
Governing law and dispute resolution
The interpretation and enforcement of these Terms, and any dispute related to these Terms or the Services, will be governed by and construed and enforced in accordance with the US federal and state laws, without regard to conflict of law rules or principles that would cause the application of the laws of any other jurisdiction. You agree that we may initiate a proceeding related to the enforcement or validity of our intellectual property rights in any court having jurisdiction.
All disputes, controversies or claims arising out of or relating to these Terms, will be resolved through confidential binding arbitration held in accordance with the Streamlined Arbitration Rules and Procedures (“Rules”) of the Judicial Arbitration and Mediation Services (“JAMS”), which are available on the JAMS website and hereby incorporated by reference. You acknowledge and agree that you have read and understand the rules of JAMS or waived your opportunity to read the rules of JAMS and any claim that the rules of JAMS are unfair or should not apply for any reason.
You agree that any dispute arising out of or related to these Terms or the Services is personal to you and Alfacash and that any dispute will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. You agree that these Terms involve matters affecting interstate commerce and that the enforceability of this Section 18 will be substantively and procedurally governed by the Federal Arbitration Act, 9 U.S.C. § 1, et seq. (the “FAA”), to the maximum extent permitted by applicable law. As limited by the FAA, these Terms and the JAMS Rules, the arbitrator will have exclusive authority to make all procedural and substantive decisions regarding any dispute and to grant any remedy that would otherwise be available in court; provided, however, that the arbitrator does not have the authority to conduct a class arbitration or a representative action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual. You agree that for any arbitration, the party filing the claim will pay the filing fee and the parties will split the remaining JAMS fees and costs. Judgment upon any arbitration award may be entered and enforced in any court of competent jurisdiction. Otherwise, you and Alfacash agree that the US state or US federal courts have exclusive jurisdiction over any appeals and the enforcement of an arbitration award. You and Alfacash hereby expressly waive trial by jury.
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, Bahrain, Bangladesh, Bolivia, Cambodia, Central African Republic, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Mali, Mauritania, Nepal, North Korea, Oman, Pakistan, Palestinian Territory, Somalia, Sri Lanka, Sudan, Syria, Yemen. We maintain the right to restrict or refuse its services in these jurisdictions. 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 provisions 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.