Terms of Service
Effective as of 1/12/2017, Last edited: 15/1/2018
Switchain and its affiliations (hereafter referred to as "Switchain", "Ourselves", the "Website", the “Service”,"We", and "Us" refers to "Switchain.com" (the "Website") and to the owners, employees, and legal council representative of the ElevenYellow Pte. Ltd (hereafter referred to as the "Company").
Further introduced in the Terms of Service is the "Client", "You", "Yours", the "Customer" and/or the "User" referring to the person who accesses and otherwise uses the Service provided by Switchain. Access of the service by the User is defined by visiting the Switchain website to either use the Service or otherwise to learn more about the Company, Switchain, or the Service. By using the Service provided on the Website, the User acknowledges and accepts the Terms of Service hereafter described. "Digital Currency" refers to cryptocurrencies that are created and maintained by its set of developers. Cryptocurrencies may include but are not limited to Bitcoin, Ether, NEO, Ripple, Litecoin, Bitcoin Cash, and more. Cryptocurrencies are ascribed through acronymzation, abbreviation, or otherwise through a Symbol across the Website.
The User should read and accept the entirety of the Terms of Service outlined on this page prior to using the Services provided by the Website. The User is not allowed to use the Service provided by Switchain unless You accept the Terms of Service as outlined.
Should you agree to the Terms of Service of the Website, you are expressly given the right to use Switchain and its Service in a personal, non-exclusive, non-transferable, non-sub-licensable manner.
Terms of Service
- Switchain does not create, maintain, or administrate any Digital Currency found online. The Website aggregates data of multiple digital currency exchanges across the internet for the User.
- The Service provided by the Company allows the User to discover the best exchange rate between digital currencies.
- The Service provided by the Company allows the User to exchange digital currency through access of an external website, through our Website.
- All fees payable by the User are reflected in the exchange rate between the two pairings as indicated on the Website.
- All fees are subject to fluctuation after the time of listing on the Website and may not be indicative of the actual exchange rate when the User commits to a trade.
- Switchain and its affiliations have no control over any digital currency listed on the Website.
- Switchain and its affiliations are in no way liable over the generation, distribution, redistribution, expiration, retention, or termination specific to any digital currency listed on the Website.
- Switchain has no control over the volatility of any digital currency listed on the Website.
- Switchain acts as an intermediary party between the User and the External Website, identifying the best exchange rate for the User.
- Switchain does not provide any warranty, either express or implied, to the User.
- Information and exchange rates presented on the Website are done so based on data provided by external exchanges. The User understands and agrees that Switchain are not liable for miscommunication of actual exchange rates as presented on the Website. Information and content provided on the Website are presented "as-is" and "as-available" at any given time the User accesses the Website.
- The User fully acknowledges that using any of Our Services, trading with digital currencies, and facilitating a trade as a buyer ("Buyer") or seller ("Seller") on any digital currency exchange is doing so at the User's own risk. The User hereby fully acknowledges the risk factors involved in trading digital currencies as facilitated through Switchain as an intermediary party for any of the listed digital currency exchanges. Risk factors include the partial or full loss of valuation of the User's digital currency funds, whereby the Company expressly declares that Switchain offers no warranty in any form regarding the use of the Website, the Service offered through the Website, the related Exchanges listed on the Website, or funds of the User.
- All parties of the Company and Switchain strive to provide the User with an uninterrupted service. The Company and Switchain cannot guarantee that access to this Website and the provided Service will not be interrupted. The Company does not guarantee that there will not be any failure, interruption, or error of service. The Company strives to provide an uninterrupted level of Service without failure or loss of data.
- The Company reserves the right to suspend the Website or Service provided by the Website in case of maintenance.
- In the event of maintenance, the Company strives to alert the user with reasonable notice. Reasonable notice is considered as determined by the Company at its sole discretion.
- Users of this website agree that the trading of any type or form of digital currency must adhere to the laws of their country of citizenship.
- Should the User ignore law as ascribed by their nation of citizenship, or should the User partake in any activity deemed illicit by the law of their nation of residence, Switchain and the Company are not liable for any legal ramifications the User may face.
- Switchain and all affiliations of the Company are not and cannot be held responsible for any violation of law. It is the responsibility of the User to know and understand potential legal ramifications of trading digital currency in any way or form. The User must follow the laws of their country of residence from which Switchain and the offered Service is accessed.
Switchain is not held accountable for any taxation event the User may or may not be liable to. It is the responsibility of the User to determine whether any trade they make as faciliated through the Service provided by Switchain is deemed a taxable event according to their residence. It is the sole responsibility of the User to collect, report, and submit taxable events and the accompanying payments to the relevant tax authorities.
Trading Digital Currency Warnings
The use of Switchain, our Website, and the provided Service entail risks inherent in digital currency trading.
Digital currencies are mostly unregulated by nation states. Buy, sell, or exchange digital currency at your own risk and in compliance with all legal regulations emplaced in your country of residence. The Company, Switchain, the Service, and all affiliations of the Company are not liable for any legal risk the User may be exposed to when buying, selling, or exchanging digital currency.
Digital currencies have inherent risk attached to them. Price fluctuations may cause your initial valuation to drop in value prior to or after your transaction is facilitated by Switchain, its affiliations, or an unaffiliated digital exchange. When a User uses our Service, they acknowledge that the Company, Switchain, Our rendered Service, and any other affiliations of the Company are not liable for fluctuations in value of any type of digital currency.
All forms of digital currency are volatile, which may or may not affect the value of a trade you commit to when using our Service or an external digital currency exchange. When a User uses the Service provided by Switchain, the User acknowledges that the Company, Switchain, the Service, and any affiliations of the Company are not liable for any digital currency market fluctuations that may or may not affect the final value of your conversion.
Rights to Assets
Website assets (Assets) of which include, but may not be limited to, the company logo, Switchain logo, Website text and proprietary code, are property of the Company and under copyright, trademark, and other forms of legal protection.
Usage of Assets are prohibited unless specified otherwise. Use of Assets is allowed for non-commercial purposes, of which includes personal and/or informational use. Use of Assets is allowed for purpose of press releases and general information for the public sphere.
As a User you agree to not republish, upload, post, scrape, retransmit, or scrape data present on the Website. Violation of copyright, trademark, or other forms of legal protection will result in countered legal action from the appropriate legal entity representative of the Company.
The Website may access external APIs not owned by the Company and/or provide links, resources, or references to other websites (defined as "External Assets") of which the Company and its affiliations have no control over. The Company strives to access and/or suggest only useful and beneficial External Assets for the User. By using the Service, the User acknowledges that the Company and its affiliations, Switchain, the Website and the Service have no control over said External Assets. The Company and its affiliations are not held accountable in the event of malpractice on any of these External Assets (such as worms, Trojan horses, illicit DNS hijacking). The company and its affiliations cannot be held accountable for the uptime, availability, or content present on any External Asset.
The User is therefore strongly advised to examine the Terms of Service of each External Asset. The User is liable for the use, misuse, or error of services provided either directly by the External Asset or facilitated use of the External Asset through the Service provided by Switchain.
Limited Liability of the Company
Users are held accountable for all trades facilitated by the Service. A wholesome overview of the limitation of liability of the Company, the Website, and the Service versus liability of the User:
- The Company and its affiliations are not held responsible for actions performed by the User on the Website and Service.
- The User agrees that the Company and its affiliations, Switchain, the Website, or the Service are not to be held accountable for the loss or virtual currency (profit, loss or otherwise).
- The Company, its affiliations, and Switchain are not responsible for the actions of the User should the User not be legally allowed to transact digital currency in their nation of citizenship. The User is solely responsible for ensuring the legal ability to use and transact digital currency. Should the Company, Switchain and its representatives discover that the User is legally ineligible to transact digital currency, the Company reserves the right to restrict Website and Service access of the User.
- In the event of force majeure, or by change of statutory or regulatory law as defined by the nation of Singapore, Switchain cannot be held liable for any account of Losses of the User.
The Company and its affiliations maintains a stance of zero tolerance on the use of its Services for any illegal activity. Discovered abuse from any User results in immediate suspension of rights to use the Service. Further repercussions include the Company reporting all available data of the User to the relevant regulatory and/or statutory authorities. The Company and Switchain reserves the right to determine whether the activity of a User may be deemed suspicious activity. In the event of suspicious activity, the Company reserves the right to submit relevant data of the User to legal and/or statutory authoritative parties.
By using the Service provided on the Website, the User agrees to the following:
- The User acknowledges that misdirecting, misleading, or falsifying information regarding Switchain may lead to both access and legal ramifications for the User, of which include, but are not limited to, the Company withdrawing the rights of the User to use the Service, the Company addressing legal council, the Company sending a cease and desist order to the User, the Company opening a lawsuit against the User.
- The User may not utilize technology that obfuscates identity to facilitate trades for illegal activities. In cases of identity obfuscation, Switchain may class activities of the User as suspicious activity.
- The User is prohibited from providing and/or distributing technology that enables any other User of the Service to violate the Terms of Service of Switchain.
At its sole discretion, the Company, affiliations of the Company, and Switchain reserve the right to determine whether the activity of a User may be deemed illicit and/or suspicious. Switchain reserves the right to retain any digital currency that is deemed suspicious activity. Any digital currency retained will be made accessible only to regulatory/statutory authorities for the purpose of resolving suspicious activity of the User. Digital currency retained due to suspicious activity will be distributed back to the User once a resolution is found.
User Acknowledgement of Terms of Service
By using the Website and/or the Service provided by Switchain, the User hereby agrees to the Terms of Service of Switchain as outlined on this page. The User acknowledges that the Company and its affiliations, or Switchain may adapt these Terms of Service whenever and wherever they see fit.
The Terms of Service on this Website shall be governed and construed in accordance with the jurisdictive parties of Singapore. The Parties agree to irrevocably submit to the exclusive jurisdiction of the courts in Singapore for the resolution of any disputes arising from these Terms of Service.
Any questions regarding the Terms of Service, or rights of the User arising from the Terms of Service, please contact email@example.com.