13010431 Canada inc (Necosmart) Terms of Use

Last revised: 21 April 2023

These Terms of Use ("Terms") are a binding agreement between you ("you" or "your") and the operators of this trading website (referred to as "we," "us," or "our"). By accessing, using, or clicking "I agree" to accept any of our trading services or features (collectively, "Services"), you agree that you have read, understood, and accepted all of the terms and conditions stipulated in these Terms as well as our Privacy Policy, which can be found at [Terms of service ]. In addition, when using certain features of our Services, you may be subject to additional terms and conditions specific to those features.

It's important to carefully read these Terms as they govern your use of our Services. Please note that the values of digital assets, including cryptocurrencies and their derivatives (collectively, "Digital Assets"), may fluctuate significantly, and there is a substantial risk of economic losses when purchasing, selling, holding, or investing in Digital Assets. By using our Services, you acknowledge and agree that: (1) you are aware of the risks associated with transactions of Digital Assets and their derivatives; (2) you assume all risks related to the use of our Services and transactions of Digital Assets and their derivatives; and (3) we shall not be liable for any such risks or adverse outcomes.

By accessing, using, or attempting to use our Services in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access our website or use our Services.

1. Definitions

1. Trading Website refers to the website and its related applications and platforms that are developed to offer trading services to users.

2. Trading Accounts refer to virtual accounts, including main accounts and subaccounts, which are opened by the trading website for users to record their usage of trading services, transactions, asset changes, and basic information. Trading Accounts serve as the basis for users to enjoy and exercise their rights on the trading website.

3. Fiat Account means the record of a user's fiat currencies' balance (if any), which is enabled through an electronic money wallet (or similar account) service that is provided by a Fiat Partner.

4. Website Operators refer to all parties that operate the trading website, including but not limited to legal persons, unincorporated organizations, and teams that provide trading services and are responsible for such services. For convenience, unless otherwise stated, references to "the trading website" and "we" in these Terms specifically mean Website Operators. UNDER THESE TERMS, WE MAY CHANGE AS OUR BUSINESS ADJUSTS, IN WHICH CASE, THE CHANGED OPERATORS SHALL PERFORM THEIR OBLIGATIONS UNDER THESE TERMS WITH YOU AND PROVIDE SERVICES TO YOU, AND SUCH CHANGE DOES NOT AFFECT YOUR RIGHTS AND INTERESTS UNDER THESE TERMS. ADDITIONALLY, THE SCOPE OF WEBSITE OPERATORS MAY BE EXPANDED DUE TO THE PROVISION OF NEW SERVICES, IN WHICH CASE, IF YOU CONTINUE TO USE THE TRADING WEBSITE, IT IS DEEMED THAT YOU HAVE AGREED TO JOINTLY EXECUTE THESE TERMS WITH THE NEWLY ADDED WEBSITE OPERATORS. IN CASE OF A DISPUTE, YOU SHALL DETERMINE THE ENTITIES BY WHICH THESE TERMS ARE PERFORMED WITH YOU AND THE COUNTERPARTIES OF THE DISPUTE, DEPENDING ON THE SPECIFIC SERVICES YOU USE AND THE PARTICULAR ACTIONS THAT AFFECT YOUR RIGHTS OR INTERESTS.

5. Trading Services refer to various services provided to users by the trading website that is based on Internet and/or blockchain technologies and offered via the trading website and its related applications and platforms. Trading Services include but are not limited to such components as Digital Asset Trading Platforms, the financing sector, research and analysis, educational resources, customer service, and fiat gateways.

6. Our Platform Rules refer to all rules, interpretations, announcements, statements, letters of consent, and other contents that have been and will be subsequently released by Necosmart, as well as all regulations, implementation rules, product process descriptions, and announcements published in the Help Center or within products or service processes.

7. Collateral Accounts refer to special accounts opened by Users on Necosmart to deposit and withdraw collateral (such as margins) in accordance with these Terms, as required for trading transactions, leveraged trading, and/or currency borrowing services.

8. Digital Currencies refer to encrypted or digital tokens or cryptocurrencies with a certain value that is based on blockchain and cryptography technologies and are issued and managed in a decentralized form.

9. Digital Assets refer to Digital Currencies, their derivatives, or other types of digitalized assets with a certain value.

10. Fiat Partner means any third-party service provider, with which Necosmart may partner in connection with any Fiat Services.

11. Fiat Services means 

(a) crediting your Necosmart Fiat Account with one or more fiat currencies either via a bank transfer or with your debit card or credit card; 

(b) purchasing Digital Assets at spot prices with one or more fiat currencies by using either your Necosmart Fiat Account balance or your debit card or credit card; 

(c) selling Digital Assets at spot prices for fiat currencies and crediting the corresponding proceeds of sale either to your Necosmart Fiat Account or to your debit card or credit card; 

(d) withdrawing one or more fiat currencies from your Necosmart Fiat Account either into your bank account or to your debit card or credit card.

12. KYC refers to the “know-your-customer” process that Necosmart has put in place before entering into a business relationship or conducting transactions with its Users. As part of this process, Necosmart may do anything that it deems necessary in order to identify Users, verify their identity, scrutinize and investigate User transactions, or comply with any applicable law or regulation.

13. Loan/Lending refers to Necosmart’s lending of Digital Currencies to Users at an interest collected in certain ways (in the form of Digital Currencies), including but not limited to the leveraged trading and currency lending services currently offered, and other forms of loan/lending services to be launched by Necosmart.

14. Spot Trading means buying or selling supported Digital Assets and/or any supported fiat currency on the exchange for immediate settlement.

15. Users refer to all individuals, institutions, or organizations that access, download, or use Necosmart or Necosmart Services and who meet the criteria and conditions stipulated by Necosmart. If there exist other agreements for such entities as developers, distributors, market makers, and Digital Currencies exchanges, such agreements shall be followed.

2. User Registration and Account 

a. Eligibility To use Necosmart Services, you must be at least 18 years of age or the age of majority in your jurisdiction, and have the capacity to enter into and perform a legal agreement. By accessing and using Necosmart Services, you represent and warrant that you meet these eligibility requirements. Necosmart reserves the right to request proof of age and identity from you at any time. b. Account Registration To use Necosmart Services, you must register and create a Necosmart account by providing accurate and complete information. You must also create a strong password and keep it confidential. You are solely responsible for any activity that occurs on your account, and you agree to notify Necosmart immediately if you become aware of any unauthorized access or use of your account. c. Account Verification Necosmart may require you to undergo a verification process to verify your identity and account information. You must provide accurate and complete information during the verification process, and failure to do so may result in the suspension or termination of your account. Necosmart may also suspend or terminate your account if it determines, in its sole discretion, that your account is associated with fraudulent or suspicious activity. d. Account Security You are solely responsible for maintaining the security and confidentiality of your account information, including your password and any two-factor authentication information. You agree to take all necessary measures to protect your account information, and to immediately notify Necosmart if you become aware of any unauthorized access or use of your account. e. Termination of Account Necosmart may, in its sole discretion, suspend or terminate your account at any time and for any reason, including, but not limited to, violation of these Terms or other agreements entered into with Necosmart, fraudulent or suspicious activity, or requests by law enforcement or regulatory authorities. Upon termination of your account, you must immediately cease all use of Necosmart Services and withdraw any remaining Digital Assets in your account, subject to these Terms and applicable laws and regulations.

3. Service Usage Guidelines 

License Provided that you constantly comply with the express terms and conditions stated in these Terms, NecoSmart grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use NecoSmart Services through your computer or internet-compatible devices for your personal/internal purposes. You are prohibited from using NecoSmart Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of these Terms. The content layout, format, function, and access rights regarding NecoSmart Services should be stipulated at the discretion of NecoSmart. NecoSmart reserves all rights not expressly granted in these Terms. Therefore, you are hereby prohibited from using NecoSmart Services in any way not expressly authorized by these Terms.

These Terms only grant a limited license to access and use NecoSmart Services. Therefore, you hereby agree that when you use NecoSmart Services, NecoSmart does not transfer NecoSmart Services or the ownership or intellectual property rights of any NecoSmart intellectual property to you or anyone else. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including HTML code), programs, software, products, information, and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through NecoSmart Services, are exclusively owned, controlled, and/or licensed by NecoSmart Operators or its members, parent companies, licensors or affiliates.

NecoSmart owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about NecoSmart or NecoSmart Services that you provide through email, NecoSmart Services, or other ways. You hereby transfer all rights, ownership, and interests of the Feedback and all related intellectual property rights to NecoSmart. You have no right and hereby waive any request for acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.