Valid from: 2019-06-17
Virtual Currency Sale & Purchase AgreementThank you for choosing SpectroCoin. The following Virtual Currency Sale & Purchase Agreement (referred to herein as the “ Agreement") applies and you agree to them if you use the Virtual Currency sale and purchase service. You should read this Agreement carefully if you use the Virtual Currency sale and purchase service.
Interpretation and Definition
- In this Agreement and all documents incorporated herein by reference, all definitions will have the meaning assigned to them under the General Terms and Conditions (the "Terms") which can be found on the Site. Additional definitions may be provided throughout this Agreement.
- For the ease of use of the Site and the Services, the Virtual Currency sale and purchase Services may also be referred to as the "Exchange" throughout the Site and this Agreement.
- This Agreement should be interpreted in accordance with the rules of interpretation set out in the Terms.
- The matters not regulated by this Agreement, including but not limited to, eligibility, creating account with SpectroCoin, fees, liability and indemnification, are regulated by the Terms.
Scope of Agreement and Acceptance
- This Agreement sets out the terms and conditions for selling and purchasing the Virtual Currency on the Site.
- By taking the first action required to sell or purchase the Virtual Currency with SpectroCoin, you acknowledge that you have read, understood, and completely and unconditionally agree to be bound by and accept this Agreement, its terms and conditions and all the policies and guidelines that are incorporated herein by reference. If you do not agree with the Agreement and/or individual provisions of the Agreement, you cannot sell or purchase the Virtual Currency with SpectroCoin.
Selling and Purchasing Virtual Currency
- If you have an account with SpectroCoin and your Wallets are active, you can sell and purchase Virtual Currency. This Service can be accessed through your account.
- You can sell and purchase any of the Virtual Currencies supported by SpectroCoin. We may at any time change the available Virtual Currencies, which we choose at our sole discretion. SpectroCoin will have no liability or obligation for taking such action.
- SpectroCoin does not connect you with other Customers selling or purchasing Virtual Currency. Your sale or purchase transaction is done between you and SpectroCoin. If you want to send or receive Virtual Currency to or from other SpectroCoin Customers directly, you have to use the Wallet functionality for that purpose.
- If you want to sell or purchase Virtual Currency, you must make an offer on the offer page located within your account. In the offer form you will have to indicate the amount of Virtual Currency that you want to sell or purchase. You must enter full details of your offer as required when filling the offer form. If your offer details are incorrect and/or insufficient, SpectroCoin may reject the offer.
- SpectroCoin does not finance the Virtual Currency sale and purchase transactions. If you want to sell or purchase Virtual Currency, you have to load your SpectroCoin Wallet in advance. The amount that you indicate in the offer form may not exceed the amount of Virtual Currency that you have in your Wallet.
- SpectroCoin may at its own discretion and without providing you any explanation reject your offer. In this case your Wallet balance will remain unchanged and no sale or purchase transaction will take place. We will not be liable to you for rejecting your offer, irrespective of underlying reasons, moment of rejection or any other circumstances.
- If SpectroCoin accepts your offer, the transaction (sale or purchase) will be processed automatically without any further input from you.
- SpectroCoin will only pay for the Virtual Currency that SpectroCoin purchased from you after the Virtual Currency is received at SpectroCoin Virtual Currency address. SpectroCoin does not pay for the Virtual Currency it purchases from you in advance.
- After accepting your offer, SpectroCoin will charge your Wallet for the amount that you have to pay to SpectroCoin – the sale or purchase price (the "Exchange rate"), which is applicable at the time of transaction.
- The transaction is considered complete after the amount of Virtual Currency that you purchased is available at your Wallet and the payment amount will be permanently deducted from your Wallet.
- You must check what Exchange rates apply before making the offer. You acknowledge that due to the nature of blockchain technology and frequent value fluctuations of Virtual Currencies, the Exchange rates fluctuate and may change between the moment when you make the offer and the moment the transaction is complete.
- SpectroCoin determines the applicable Exchange rates at its sole discretion and based on the information from the sources which we pick at our sole discretion. We may at any time change the Exchange rates, which we choose at our sole discretion. SpectroCoin will have no liability or obligation for taking such action. We do not have any obligation to you to explain, prove or justify our Exchange rates. If you choose to proceed with your transaction, we will consider that you agree with the Exchange rates. If you do not agree with the Exchange rates, you cannot proceed with your transaction. Please familiarize with the Exchange Rates, published on the Site.
- When your transaction is processed, your Wallet in payment currency will be charged and the Wallet in receiving currency will be loaded with the respective amounts based on the Exchange rate that was applicable at moment when the transaction was processed. You acknowledge that in some instances these amounts may differ from the amount you initially input in the transaction order form.
- The risks of accidental perish, theft, disappearance or damage to your purchased Virtual Currency will pass to you after the transaction is processed.
- By selling your Virtual Currency you warrant to SpectroCoin that you have the legal title to the Virtual Currency.
Returns and Refunds
- We do not accept returns of Virtual Currency and provide refunds. However, you can always resell your purchased Virtual Currency on our Site or other marketplaces.
- Please note that we are not obliged to purchase (repurchase) your purchased Virtual Currency and we can reject your offer to do so without indicating any reasons.
- In addition to the provisions set out in the Terms, the following provisions will apply to your use of the Virtual Currency sale and purchase Services.
- This Agreement will apply as long as you have the Wallet with SpectroCoin. Use of the Virtual Currency sale and purchase Services will be automatically terminated if your account is closed.