Terms of Use
Update: 29.12.2022.
This document covers general rules for using the CoinGym virtual currency exchange service, lists the main risks and prohibited jurisdictions, describes KYC/AML and refund procedures, and illustrates other important legal aspects. You must read, understand and agree to these Terms of Use before using any CoinGym services.
1. General Provisions
1.1
These Terms of Use regulate relations pertaining to the using of the website (hereinafter – "Website").
1.2
The following terminology applies to these Terms of Use:
•
"User", "You" and "Your" refers to you, the natural person (individual) accessing the Website, using our services through the Website and accepting these Terms of Use.
•
"CoinGym", "Services", "Ourselves", "We", and "Us" refers to the company LIMITED LIABILITY COMPANY «METACHAIN», duly organized under the laws of Ukraine.
•
"Party" refers to either you or us. For the avoidance of any doubt, the contracting Parties under these Terms of Use are you and CoinGym.
•
"Digital Asset", "Cryptocurrency" refer to blockchain-based software ledger data entries.
•
"Exchange" means the swap of a crypto asset for another or the same one crypto asset in other blockchain.
•
"Crypto Assets" means a type of assets that can be transferred only and exclusively using blockchain technology, including, but not limited to digital coins and digital tokens, and any other digital mediums of exchange.
•
"Floating Rate Exchange" means a floating rate cryptocurrency exchange performed at the current most profitable rate on the market, at which the Service does not guarantee this rate.
•
"Fixed Rate Exchange" means an exchange performed at the same rate which is displayed to the client at the beginning of an exchange, regardless of subsequent rate fluctuations.
1.3
These Terms of Use are open and public document.
1.4
In these Terms of Use, unless otherwise specified, the words importing the singular include the plural and vice versa, and the words importing gender include all genders.
1.5
The user accepts that the Terms of Use may be updated by CoinGym at any time. If the user does not read and accept the Terms of Use, the User should not use or continue using the Services.
1.6
We reserve the right to change, supplement or modify these Terms of Use from time to time at our sole discretion. The amended Terms of Use will be effective immediately upon posting on the Website.
2. Using of Services
2.1
By using the website, you accept these Terms of Use and agree that you are responsible for compliance with all applicable laws, and regulations.
2.2
Before you start working with the Website, you need to be sure that you meet some basic requirements:
•
to process payments
•
to process payments
2.3
Accepting the terms of the floating exchange option, also called «Floating Rate Exchange» means you acknowledge and agree that the information about the exchange rates for the floating rate option is indicative and may differ from the actual exchange rate.
2.4
By using the "Fixed Exchange Rate" you acknowledge and agree that the fixed exchange rate may differ from the floating exchange rate. CoinGym shall complete the exchange if the following requirements are met:
•
to process payments
•
to process payments
•
to process payments
If the situation allows for an exchange, the transaction will be pushed through at the rate that was confirmed by the user at the beginning of the exchange.
If the market situation is such that the transaction cannot be executed anymore, the crypto assets will be refunded, if possible.
If the user sent an inaccurate amount, CoinGym may, at its discretion, decide to complete exchange at the specified or current rate.
2.5
When you exchange crypto assets, you acknowledge and agree that we cooperate with third-party liquidity providers, and we can use their services to complete the exchange.
2.6
The Website provides non-custodial services, which means that we do not store your Crypto Assets on deposits and balances.
2.7
By accepting these Terms and using the Website, you represent and warrant that:
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
•
to process payments
2.8
In order to protect the integrity of the Website, CoinGym reserves the right at any time in its sole discretion to block users who violate these Terms of Use.
3. Personal Data
3.1
By accepting these Terms, you expressly allow CoinGym to process your personal data, export your personal data outside of the jurisdiction in which you reside or are located.
3.2
We are entitled to transfer some User’s data (including IP-addresses) to our business partners or governmental bodies at their request to facilitate the prevention and disclosure of prohibited or illegal actions. By accepting these Terms, you acknowledge and agree to your personal data may be transferred in this way.
3.3
For more information, read the official CoinGym Privacy Policy here
4. AML/KYC Procedure
4.1
We maintain a Know-Your-Customer (KYC) policy to comply with Record keeping Requirements. If your proposed purchase is flagged through our internal controls or an exchange partner’s internal controls, we reserve the right to refund your exchange, less any applicable fees incurred by the Company during such refund process. We may not make Services available in all markets and jurisdictions. The Services are not intended for use by individuals who are citizens or nationals of or resident in a restricted location, where the local laws prohibit you at any time (by reason of your nationality, domicile, citizenship, residence or otherwise) to access or use the Services. At this time, restricted locations include the United States of America, Canada, France, North Korea, Sudan, Crimea and Sevastopol, Republic of Cuba, Syrian Arab Republic, People’s Republic of China, Japan, Republic of Iraq, Republic of Yemen, Federal Republic of Somalia, Republic of Congo, State of Libya, Republic of Liberia, State of Eritrea, Republic of Mali, Republic of Zimbabwe, Republic of Côte d’Ivoire, the Islamic Republic of Iran and any state, country or other jurisdiction that is embargoed by England and Wales. For greater clarity, the content of the Terms shall not be excluded from the laws of the country or region under which the User belongs. As a result, if you do not meet these eligibility requirements, do not use our Services.
5. Exchange Rates, Fees and Confirmations
5.1
Exchange rates are constantly updated, CoinGym tries to deliver information about exchange rate changes to the User as comfortably as possible, but this is not a requirement on our party.
5.2
The user can always track the current rates on the main page of the website or ask the support team.
5.3
Exchange fees, as well as all third-party commissions, are included in the rate provided on the Website.
5.4
CoinGym fees are subject to change at any time, without notice to the User.
5.5
To start the exchange requires the full passage of all required deposit confirmations. The number of confirmations may vary depending on the blockchain, if possible our party provides the required number of confirmations on the status "Confirming" otherwise the User can request information about deposit confirmations from the support team.
6. Refund Policy
6.1
Cryptocurrency and Digital Assets are, by their nature, generally irreversible, and their exchange rates are highly volatile and transitory. We cannot be responsible for any risk in use of the Website, including but not limited to exchange rate risk and market risk. All sales and transactions after the CoinGym exchange are final and amount is non-refundable.
6.2
There are minimum amounts on the website in the User interface, please do not send less than the minimum amount. Otherwise CoinGym is not responsible for these funds and will decide individually for each deposit to refund or complete an exchange.
6.3
Service is not responsible if the User has sent a deposit not on the specified network, unfortunately, such funds are very rare to return. CoinGym team will help the user in this case, if possible.
6.4
CoinGym is not responsible for funds that have been sent to the fake phishing sites. It is important that all Users shall verify they are visiting the correct URL (coingym.com) on their own and search for the security certificate in the URL bar of their browser. Also, never trust private messages, solicitations or requests for funds from people claiming to be CoinGym unless you have verified that it is an official request from a CoinGym employee.
In case of doubt, contact us directly to verify any messaging.
6.5
Fake tokens or Imitation tokens mean tokens that have no value. Despite mimicking the existing project and having the same name or logo, such tokens do not have the contract address of the project. CoinGym checks the contract of the sent token, and if it does not match the official token contract, the deposit will not be recognized by the system. In case of receiving Fake tokens or Imitation tokens to its deposit address, CoinGym shall not exchange or return such tokens.
6.6
The average refund time can take from 31 to 60 business days. In case our trading account has been restricted by a liquidity provider or a law enforcement agency, the refund may take indefinitely, depending on the above-mentioned authorities.
6.7
If your exchange or deposit is suspected of fraud, the Service reserves the right to suspend the refund or exchange indefinitely to allow the customer to pass the KYC.
7. Prohibited Jurisdictions
7.1
CoinGym maintains the right to select its markets and jurisdictions to operate in and may restrict or deny its services to certain countries. You can read about the prohibited jurisdictions here.
7.2
CoinGym also maintains the right to use various methods to prevent the use of the Website and its services by the Users listed above. You are to comply with this Section, even if CoinGym methods to prevent use of its services and the Website are not effective or can be bypassed.
7.3
Use of the Website is void where prohibited by applicable law.
7.4
CoinGym has the right to obtain your IP-address. If the IP-address is allocated in the prohibited jurisdiction (Section 10 hereunder), CoinGym can deny you the access to the Website and providing services.
