Altcex User Agreement
This User Agreement is an electronic legally binding contract between You
(hereinafter the "User") and ALTCEX Exchange Service (hereinafter the "Service"
or ALTCEX), which applies to User's activity on the Service using this website, its
functionality, services, and its content. By registering and entering an account on the
Service or by using any of its functions, a User acknowledges that he has read, understood and
completely agrees to comply with this Agreement, its all terms and conditions stated below.
Service reserves the right to change, add or remove parts of the Agreement at any time at its
sole discretion. The User commits to monitor all the amendments made to the present User Agreement.
Continued use of the Service after the modifications means that the User accepts and agrees with the
amendments. If the User does not agree with any of the clauses set out in this Agreement, he/she (they)
must immediately cease to use the Service.
1 Terms and conditionsAgreement means the present User Agreement.
holder of an Account.
- Account means the User's personal profile registered by her/him/them on the Service
where he/she/they controls Funds and operations conducted with them.
- Seller is a user who places a sell order for Cryptocurrency on the Service.
- Buyer is a user who a places a buy order for Cryptocurrency on the Service.
- Order means an agreement between the Buyer and the Seller to exchange
- Price is a price in cryptocurrency units, at which the User is ready to buy or sell
Cryptocurrency using the Service.
- Commission - a fee charged by or on behalf of any third party (e.g. non-bank financial
institution, payment service provider, etc).
- Cryptocurrency - peer-to-peer decentralized digital representation of value (e.g.
bitcoin, litecoin, ethereum, etc.).
- Deposit - a Transaction involving a transfer of Funds to the Account.
- Fiat currency - government-issued currency that is designated as legal tender in its
country of issuance through government decree, regulation, or law.
- Funds - Cryptocurrency and Fiat currency.
- Platform - an environment created by ALTCEX that allows trading
- Service is the platform ALTCEX.EU
with all and any services provided by ALTCEX
- Site is ALTCEX.EU website at https://ALTCEX.EU
- Transaction Price: the total price paid by the Buyer in respect to each Transaction
performed via the Service.
- Transaction: transfer of Cryptocurrencies or Fiat currencies by the User to his or her
Account ("Deposit Transaction"); transfer of Cryptocurrencies or Fiat currencies among the
Users ("Trading Transaction"), withdrawal of Cryptocurrencies or Fiat currencies from his or
her Account ("Withdrawal Transaction").
- Withdrawal: a Transaction involving a transfer of Funds from the User's Account to any
account opened in any financial institution.
- Listing is the process of Cryptocurrency deployment on the Service;
- Delisting is the process of Cryptocurrency removal from the Service;
2 Subject of the agreement2.1 ALTCEX is an online digital asset Service
with a goal to allow all Users of the Service to trade cryptocurrencies with other Users. In
accordance with the Agreement ALTCEX grants the User the right to employ its following
2.2 The User acknowledges and agrees that ALTCEX is an online digital asset
Service, and when the User is completing Trading Transactions, he/she (they) is trading with
other User, excluding any possibility to consider ALTCEX as a counterparty to any trade
- access to the Account and the User's Funds within the Service;
- access to the Service to carry out User's trading activity;
- access to deposit and to withdraw the User's Funds;
- access to the information about the Service, coin rates, placed open and closed orders as well
as other appropriate information published by the Service on its web-site and public channels.
3 Account verification3.1 ALTCEX leaves at the User's sole discretion the
right to choose a type of his/her account: verified (with the User's identity data and photo) or
The following options are available for verified accounts only:
3.2 For users with unverified accounts there are daily amount limitations for
withdrawals. The limitation value is different for every coin and specified on the Funds page of
the Service in the section "Withdrawals".
- Unlimited daily cryptocurrency withdrawals;
- Option to recover Two-Factor Authentication;
- Option to recover the access to the User's profile;
3.3 ALTCEX reserves the right to
request a User who owns an unverified account to submit his/her identity details (incl. ID data and
the User's photo (selfie)) in case when the User's activity is found suspicious. ALTCEX reserves the right to
request a User who owns a verified account to submit his/her identity details (incl. ID and the
User's photo (selfie)) in case when previously provided the User's identity details seem to
have fake marks.
3.5 In case of the User's delay or refusal to provide such information,
ALTCEX reserves the right to suspend the User's account along with freezing all the funds,
available at the moment of suspending, till the moment of providing the requested information.
ALTCEX is not obliged to assist the User to recover his/her unverified account in case when
the User has lost his Google 2FA recovery code or the access to the mentioned mobile application.
4 The Service obligations4.1 To make all reasonable efforts to facilitate and
ensure effective transactions between the Users.
4.2 To grant applicants with the
age 18 y.o. and older access to register and fill in personal accounts;
4.3 To receive
cryptocurrencies from the User, keep them, keep a record of them, execute transactions and provide
them to the User upon his/her request.
4.4 To keep a record of the fiat currency
transferred to the Account. Money transfers during the Account replenishment and withdrawals as
well while executing Deals between the Users are carried out by third parties (aggregators, payment
institutions and other facilitators). ALTCEX is not liable for actions of these third
4.5 To ensure the security, and privacy of personal information submitted to
the Service, and update its security measures when possible.
4.6 To provide users with an
ever-growing selection of cryptocurrencies and their market pairs.
4.7 Transaction price
will be calculated based on the actual relevant offers made by the Users and shall include the
applicable commission fees.
4.8 As soon as specific offers for sale and purchase of
Cryptocurrency match, such offers may not be revoked.
4.9 All funds, including
cryptocurrency, deposited by the User into the User's account, shall be stored by the Service on
her/his behalf, in accordance with the details (coin account addresses) specified in the profile of
4.10 To provide and maintain API with the Service and its Cryptocurrency pairs
in order to enhance the User's options of trading on the Service, reserving the right to suspend
and resume API for any market pairs at any time at ALTCEX sole discretion.
To review on a weekly basis all cryptocurrencies on the Service to ensure all of them are
consistent with ALTCEX listing policy, reserving the right to remove any cryptocurrency or
market from the Service in accordance with ALTCEX delisting policy.
5 The User obligations5.1 The User guarantees that she/he will use the Service
solely to effect transactions in accordance with the terms and conditions set out in these
Agreement and that she/he has the right and opportunity to trade on the Service.
User agrees not to utilize the Service for any type of illegal activities, including, but not
limited to, laundering of money, financing of terrorism, or any kind of operations producing a
negative effect on the Service functioning efficiency.
5.3 The User agrees, that in case
she/he needs to keep more than 200 open orders at a time, she/he is obliged to inform the Support
center, specifying the reason for doing so.
5.4 The User agrees, that if her/his open
orders are completely out of market (i.e. deviation from the current market price more than 10
times), in case the number of these orders is excessively large, the Service has the right to
cancel them, because the said-above orders are considered as dump orders and might be misleading
for other Users of the Service.
5.5 The Service is intended for trade and / or exchange
of cryptocurrencies transactions. Direct transfer of cryptocurrency funds or fiat money through the
Service without trading is prohibited and will lead to the account termination without refunding of
the remaining balance of the account.
5.6 The User guarantees not to disclose any
information, obtained from the Service support operator, in any channels of communication.
Violation of this rule will lead to a penalty which is subject to be defined depending on a kind of
the information disclosed (up to account termination without refunding of the remaining
balance of the account).
5.7 The User agrees, that monitoring the newsfeed, published at
the relevant section of the Website, or in social networks or other public accounts of the Service,
is an obligatory condition of using the Service. The User agrees to bear sole responsibility for
any losses of funds, incurred by neglect of the Service notifications or recommendations.
The User understands and agrees, that his/her claims and requests would be handled only if
submitted to an official e-mail address (email@example.com),
claims or requests submitted in forums, social networks or
other public sources can be neglected or replied with a delay.
5.9 The User
understands the importance of keeping an account password, secret word and Google 2FA recovery
code, he/she is the one to determine the best way to save this data and take steps to prevent it
from being discredited.
5.10 The User agrees that the Service reserves the right to
refuse to assist a User in his/her claim for an account recovery if he/she can't provide any
sufficient evidence (new selfie and user's ID photos, screenshots from personal wallets which the
Support center may consider reasonable to request), of his/her account ownership.
6 The User conduct6.1 The following users' actions if detected in the chat-rooms
and ALTCEX social media will result in a user's account freezing for a period from 24
hours to 30 working days:
6.2 The following users' actions if detected will result in a user banning without
any refund and the option for recovery:
- advertising any kind;
- making deals without an order placement;
- statements that incite ethnic strife, propagate violence in any form, offend the religious
feelings of other users;
- flood (the placement of the same type of information, one repeating phrase, or the same graphic
files), flame, spam, discussion of political topics;
- the use of non-normative vocabulary (both explicitly and in disguised form);
- distribution links to third-party online projects, advertising links;
- distribution of malicious links (30 days ban as a penalty for one incident, or lifetime ban if
- offensive statements about the administration, moderators, abusive statements about the chat;
- writing only upper case letters;
Please, note: Exploiting any type of web-bot software on ALTCEX
which allows its users fraudulently avoid API disabling for a chosen market is illegal and is subject
to a lifetime ban with no refund of the User's funds available at the moment of penalty.
- If detected that the User's activity is bearing the marks of exploiting bots software at a
number of markets for which API is suspended on ALTCEX Service;
Please, note: depositing mining revenues directly into a User's account with
frequency more than 1 up to 6 times per hour will imply 30 days ban penalty
- Depositing mining revenues directly into a User's account with frequency more than 6 times per
user can be blocked by the decision of the Service administration without explaining the reason,
but with payment of the available funds on the account, subject to verification (This rule does not
apply to cases where funds were obtained fraudulently (theft, burglary, deception etc.)).
Any User who gets any type of penalty reserves the right to address the Service Administration and
submit proofs of its misjudging or public apologies. Depending on details of an incident, the
penalty can be cancelled or reduced and all User's funds if was locked can be unlocked and returned
to the owner.
7 Limitation of liability7.1 The User acknowledges and agrees, the Service shall
not be liable for any of User's losses caused by any of the following events, including but not
- Failure or delay of service resulting from scheduled network maintenance (incl. increasing of
the announced maintenance period) or external factors such as hardware and software
failure, cyber attacks, natural disaster, Internet service provider problems or governmental
- Failure or delay of service resulting from cryptocurrency developers' activity or inactivity as
well as failure of their blockchains or any other technical problems and events in their
networks specific for cryptocurrencies listed on the Service;
- Losses sustained by the User as a result of cyber attacks, compromised users' accounts;
- The User's misunderstanding of ALTCEX Service rules and functionality;
- The User's lack of experience in trading cryptocurrencies and any losses sustained in
- Delisting a cryptocurrency which ceased to correspond the Service Listing policy;
- Withdrawing funds outside of the Service to an mistyped address or an address located on a
blockchain different from the one on the Service.
- Losses sustained by the User as a result of his/her losing the access to his/her account (incl.
as a result of losing Google 2FA recovery code).
- Losses sustained by the User as a result of his/her depositing funds onto his/her ALTCEX
account with a frequency more than 6 times per hour.
- ALTCEX does not warrant the 100% safety of the Service and is not liable for any lost
- ALTCEX will not be liable for any consequences and losses sustained by the User in the
result of using or redirecting to third parties' sites and its instruments, which the User can
access via the Site and/or the Service.
8 Fees and comissions8.1 The market trade fee is calculated in
accordance with the Exchange's scale of fees as set out in the article "ALTCEX Fees" on
the Service site. The fee is charged only in case of an order fulfillment. In case of an order
cancellation before its fulfillment, the fee is not charged.
withdrawal commission is charged during the process of a Cryptocurrency withdrawal to cover the
network fee for the funds transition within blockchain network.
8.3 The Exchange reserves
the right to change the rates of fees and commission at any time at its sole discretion.
9 Cryptocurrency wallets control9.1. We hereby declare that ALTCEX
is not and never will be affiliated with any cryptocurrency developer team.
is responsible only for providing perfect and secure hardware and software environment for the
cryptocurrency wallet, that fit the recommendations, given by cryptocurrency developers team while
listing process, if any.
9.3. ALTCEX is not responsible for the
quality of the wallet software, cryptocurrency network state, and all other issues being under
responsibility of cryptocurrency developers team.
9.4. In order to
prevent loss of User's funds, ALTCEX reserves the right to suspend the work of
cryptocurrency wallets due to the following reasons:
- By a Cryptocurrency developer's request received via the official channel of communication.
- If a Cryptocurrency block explorer is unavailable and there is at least one user's claim
of non-delivery of his/her withdrawal from ALTCEX.
- If the difference in blocks between a Cryptocurrency explorer and its wallet on ALTCEX
is more than 100 blocks
- If a fork (and swap) of a Cryptocurrency is detected or reported by users in case of ALTCEX
did not receive an official notification from the developer team.
- The first and second wallet updates have proved to be faulty and resulting in
non-delivery of Users' withdrawal from ALTCEX.
- Cyber attack aimed to asset stealage is detected.
- Violations of the terms of the ALTCEX Listing policy
- ALTCEX is not obliged to suspend the work of the cryptocurrency wallet, excluding
the case of cryptocurrency developers team official request.
- The work of suspended wallets will be promptly resumed upon ceasing the above-mentioned
circumstances or providing fixing updates by a Cryptocurrency developer.
10 Risk warning10.1 The User guarantees that he/she understands general
principles of Cryptocurrencies, and Cryptocurrency trading and is aware of such basic entities as
price volatility; commissions, and fees, insecure cryptocurrencies, etc. affecting the asset value
and risks related to it.
10.2 The fact of a first order placement by the User confirms
his/her awareness of the main trading principles on the Service and terms specified in this clause
1 Terms and definitions of the present Agreement.