We reserve the right to alter, amend or modify these Terms from time to time, in our sole discretion. We will provide you with notice of such changes by sending an e-mail, providing notice on the homepage of the Website and/or by posting the amended Terms via our Website and updating the”Last Updated” date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting on Website.2. Provided Services1. Our Services provide you with a possibility to Exchange Bitcoin and gift cards to Naira.2. For the purposes hereof “Exchange” shall mean an exchange of gift cards and bitcoin at the terms and conditions set forth by exchanging parties, which is executed via the Third-party service in respective block-chain network. When you exchange Bitcoin you acknowledge and agree that the Exchange will be processed through the third-party exchange service with additional fees applicable to such Exchange. You acknowledge and agree that the exchange rates information made available via the Services are an estimation only and may differ from prevailing rates available via other sources outside of our Services.3. “Crypto Assets” herein shall be deemed as type of assets which can only and exclusively be transmitted by means of block-chain technology, including but not limited to digital coins and digital tokens and any other type of digital mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and absolute exempt of the securities of any kind.4. To be able to use all possibilities and functionality of our Services you shall go through the registration process and create an ecoonline Account. “ecoonline Account” is a user account accessible after the registration process and via the Services where the user may request to make a Bitcoin exchange.
When you create an ecoonline Account you oblige to:I. change the password, which is generated by our Services automatically, for a strong password that you do not use for any other websites, online or off-line services;II. Provide accurate e-mail, which actually belongs to you and shall be, therefore, verified. The access to the services provided by the ecoonline without verification of the e-mail is not allowed;III. maintain the security of your ecoonline Account and promptly notify us if you discover any suspicious activity related to your account; IV. Agree to pass through AML/KYC procedures, which may be applied to you according to our internal AML/KYC policies. As a part of such procedures, ecoonline reserves the right to request additional information and documents, which are aimed without limitation to identify our user and to prove the source of the funds;V. Take responsibility for all activities that occur under your ecoonline Account.1. In order to perform the Exchange via our Services, our system will automatically generate the particular address, which contains information about the User; (ii) the crypto asset that User wants to exchange and the crypto asset that User wants to receive (jointly – “crypto pair”); and (iii) the recipient address provided by the user (the address where exchanged Bitcoin will be deposited). All addresses are reusable: those addresses can be used to perform an unlimited amount of transactions with the same parameters.
If crypto pair and/or recipient address change, a new address will be generated by our system.2. YOU INDEMNIFY AND HOLD ECOONLINE HARMLESS AGAINST ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR SERVICES, INCLUDING BUT NOT LIMITED TO THOSE ARISING FROM YOUR PERSONAL ERROR AND MISBEHAVIOR SUCH AS INCORRECT USE OF REUSABLE ADDRESS,INCORRECTLY CONSTRUCTED TRANSACTIONS ETC.
3. ecoonline does not provide custodial services, which means, we do not store your Bitcoin on deposits and balances. In limited cases such as e.g. necessity to carry out AML/KYC procedure, your Exchange may be delayed. YOU HEREBY UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU INDEMNIFY AND HOLD US HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE EXCHANGE DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.
3. AML and KYC procedure1. In furtherance of the clause 2.4.4 ecoonline reserves the right to apply the AML/KYC procedure to particular users, addresses and particular transactions of crypto assets.2. The up-to-date information on the AML/KYC procedures can always be found at AML/KYC.4. Eligibility1) Prior to your use of the Services and on an ongoing basis you represent, warrant, covenant and agree that:1. you use our Services at your sole option, discretion and risk;2. you are solely responsible for any applicable taxes which may be payable while using our Services;3. you are at least 18 years old or of other legal age, according to your relevant jurisdiction;4. you agree to pay the fees for Exchanges completed via Services as defined by ecoonline, which We may change from time to time;5. there are risks, associated with Internet-based system, such as the failure of hardware, software, and Internet connections and with the Blockchain Protocol, such as any malfunction, unintended function, unexpected functioning of or attack on the Blockchain protocol;6. you guarantee that your Bitcoin belong to you and they are not sold, encumbered, notin contention, or under seizure, and that neither exist any rights of third parties to your crypto assets;7. You shall provide correct information for constructing Exchange (e.g. paying and pay out wallet address). Such wallet addresses shall not be associated with terrorism, fraudulent, scam or any type of illegal activity.2)
You further represent, agree and warrant, that you will not violate any law, contract, third-party right or commit a tort by accessing or using the Services, and that you are solely responsible for your actions and/or inactions while using our Services. Without prejudice to the foregoing, you represent, agree and warrant, that YOU WILL NOT: