28.12.2020

Terms of Use Version 1.0

The text of this agreement for usage of CICLEX platform, which (hereinafter referred to as “the Terms”) is a public offering and demand for usage of the Platform’s informational and software resources under the conditions specified here. The Privacy Policy is considered to be an integral part of this Agreement as Accompanying Documents (jointly referred as to the “Agreement”).

These Terms were done in English. If any translation of these Terms contradicts its English version then the English version should be considered a primary one.

CAREFULLY READ THE TERMS OF THE AGREEMENT BEFORE YOU USE ANY SERVICES DESCRIBED IN THESE TERMS.

PLEASE NOTE THAT COMPANY IS IN THE PROCESS OF UNDERTAKING A LEGAL AND REGULATORY ANALYSIS OF THE FUNCTIONALITY OF THE PLATFORM AND OTHER OFFERED SERVICES. FOLLOWING THE CONCLUSION OF THIS ANALYSIS, WE MAY DECIDE TO AMEND THE INTENDED FUNCTIONALITY OF SERVICES IN ORDER TO ENSURE COMPLIANCE WITH ANY LEGAL OR REGULATORY REQUIREMENTS TO WHICH COMPANY MAY BE SUBJECT NOW OR IN FUTURE. PAY ATTENTION TO THE FACT, THAT MAKING OF ANY CONTRIBUTIONS ON OUR PLATFORM SHALL NOT BE CONSIDERED AS INVESTMENT IN ANY WAY.

BEFORE USING ANY OF SERVICES, YOU SHALL ENSURE THE LEGALITY OF RELEVANT SERVICES IN YOUR JURISDICTION. IN CASE YOU ARE NOT SURE OF THE LEGALITY OF USING OUR SERVICES IN YOUR COUNTRY, PLEASE CONTACT LOCAL LAWYERS. IF YOU ARE A CITIZEN OR RESIDENT OF A GEOGRAPHIC AREA IN WHICH ACCESS TO OR USE OF OFFERED SERVICES, CRYPTOCURRENCY IS PROHIBITED BY APPLICABLE LAW, DECREE, REGULATION, TREATY, OR ADMINISTRATIVE ACT WE RESERVE THE RIGHT TO REFUSE IN PROVIDING YOU WITH SERVICES. IN CASE IF YOU ARE NOT AGREE WITH ANY OF THE PROVISIONS OF AGREEMENT IN GENERAL, YOU SHALL NOT USE OUR SERVICES IN ANY POSSIBLE WAY.

THE PLATFORM DOES NOT ACT AS AN INVESTMENT PRODUCT, THEREFORE ANY NOTIFICATION, MESSAGE, ACTION, MANAGEMENT DECISION TAKEN BY THE COMPANY SHOULD NOT BE TREATED AS AN INVESTMENT PROPOSAL. ANY MENTIONS OF THE PLATFORM OR THE COMPANY IN MEDIA, ON THE WEBSITE AS A FUND OR THE INVESTMENT PROJECT IN NO WAY AFFECT THE VALIDITY OF THIS AGREEMENT AND ACT ONLY AS A MANIFESTATION OF PROMOTIONAL ACTIVITIES OF THE COMPANY OК THIRD PARTIES. TO AVOID ANY OVERCOMPLICATING IN WORDING, HEREAFTER TERMS “INVESTMENT/INVESTING” CAN BE USED ON THE WEBSITE AND IN THIS AGREEMENT AS A REPLACEMENT FOR THE “DAA” OR “STAKING” OR “CONTRIBUTION” OR OTHER TERMS. THE COMPANY DOES NOT ACT AS A LICENSED INVESTMENT ADVISOR, BROKER, LICENSED INVESTMENT FIRM OR IN ANY OTHER CAPACITY REQUIRING COMPANY TO RECEIVE A SPECIFIC LICENSE FOR ITS ACTIVITY, NOR DO THE CONTRIBUTIONS USED FOR FURTHER INVESTMENT PURPOSES. THE COMPANY PROVIDES THE FUNCTIONING OF THE PLATFORM IN ACCORDANCE TO THE TERMS COVERED IN THIS AGREEMENT.

COMPANY TAKES NO RESPONSIBILITY FOR YOUR USE OF CRYPTOCURRENCIES, AND YOU MUST UNDERSTAND ALL RISKS ASSOCIATED WITH USE OF CRYPTOCURRENCIES.

BY REGISTERING ON THE WEBSITE OR USING SERVICES IN ANY POSSIBLE WAY PROVIDED BY US, YOU AGREE TO BE BOUND BY THESE TERMS OF USE AND BY THE ACCOMPANYING DOCUMENTS. IF YOU DO NOT AGREE WITH THESE TERMS OF USE, OR WITH THE ACCOMPANYING DOCUMENTS, YOU SHALL NOT USE THE WEBSITE, PLATFORM WHICH IS AVAILIBLE ON THE FOLLOWING WEBSITE ( https://ciclex.com/) BY REGISTERING ON THE WEBSITE OR USING SERVICES IN ANY POSSIBLE WAY PROVIDED BY US YOU ALSO REPRESENT AND WARRANT, THAT YOU HAVE A SUFFICIENT UNDERSTANDING OF HOW THE BTC AND OTHER BLOCKCHAINS FUNCTION AND HAVE A DECENT EXPERIENCE IN CRYPROCURRENCIES IN GENERAL.

We reserve the right to amend these Terms and the Accompanying Documents at any time. You may be promptly notified of significant changes by receiving an email at the email address specified during registration process or by a push-notification or in any other way, reasonable chosen by the Company. In the event of updating these Terms, We may ask You to re-consent to the updated Terms before any changes take effect. Any changes or modifications will take effect immediately upon publication of these changes on the Website. In the event that significant changes are unacceptable to You, We ask You to stop using Our Services immediately. We will not notify You about minor changes by email, however, You can always find the latest version of the Terms and other Accompanying Document on the Website. If You use our Services after the changes come into effect, We deem it as Your consent to the changes. Definitions mentioned with the capital letters but meaning of which are not described in these Terms shall have the meaning as is set in the Accompanying Documents. You must read the entire Terms carefully before accessing/using Website or any Services. Any changes or modifications will take effect immediately upon publication of these changes on the Website.

The User and the Company (collectively referred as to the “Parties”) agree on the following:

DEFINITIONS:

Accompanying Documents

Other documents accompanying and detailing these Terms, being inalienable part hereof and published on the Website or directly in the Application (including, but not limited to Privacy Policy). In case of any discrepancies between Accompanying Documents and the Terms, the latter shall apply, unless other is mentioned in the Accompanying Document.

Agreement

These Terms of Use and any other rules, policies or procedures that may be issued by Company and published from time to time on the Website including Accompanying Documents.

Affiliate

Any person or entity that have any relation to Company, including, but not limited to partners, employees, agents and contractors of Company.

Ciclex Platform / Ciclex / Platform

The unique, multiservice cryptocurrency platform for managing Your cryptocurrencies, available on the Website, which currently consist of 3 sections:

  • Ciclex Wallet, which allows You to store supported cryptocurrencies, other assets including the possibility of sending/receiving aforementioned currencies;
  • Ciclex Exchange, making possible to purchase from or sell to us, Bitcoin, Ethereum, Litecoin and/or other virtual currencies available from time to time (collectively and individually the “cryptocurrency”), in consideration for either Fiat Currency, if possible (as defined in Section below) or other cryptocurrency;
  • Ciclex Staking, which is an automated software that has been developed by the Company and provides Users with the possibility of using our Platform’s algorithms (also may be referred as to the “DAA”) for participating in the autonomous distribution of bonuses by the way of transfer of their own cryptocurrencies from the Ciclex Wallet (also may be referred as to the “Contribution Amount”) and later receiving bonuses depending from the Platform’s activity and Contribution Amount.

Later, functionality of the Platform may be expanded.

DAA

An automated software developed by the Company. Its main objective is transferring of cryptocurrencies and it provides a possibility to participate in autonomous bonuses distribution.

KYC Procedures

Conducted by the Сiclex company, process of verifying the identity of our Users and assessing their suitability, along with the potential risks of illegal intentions towards the contractual relationship, subject to conditions and limitation described in the Section 2 of these Terms [also may be referred as to the “KYC”].

The Exchange Rate

Means the price of a given supported cryptocurrency in Fiat Currency or another cryptocurrency as quoted on the Website.

Intellectual Property Rights

Any invention, patent, utility model right, copyright and related right, registered design, unregistered design right, trade mark, trade name, internet domain name, design right, design, service mark, database rights, topography rights, rights in get-up and trade dress, rights in goodwill or to sue for passing off and any other rights of a similar nature or other industrial or intellectual property rights owned or used by Company in any part of the world whether or not any of the same is registered (or capable of registration), including applications and the right to apply for and be granted, extensions or renewals of and rights to claim priority from, such rights and all equivalent or similar rights or protections which subsist now or will subsist in the future.

FIAT Currency / Fiat / FIAT

US Dollar or other government-issued currency (if supported in future), that is designated as legal tender in its country of issuance through government decree, regulation, or law as determined by us from time to time.

Prohibited Jurisdictions

Shall mean territories (states) with limited recognition: Territory or Insular Possession of the United States, Cuba, Democratic People’s Republic of Korea (North Korea), Iran, Pakistan, Syria, the Government of Venezuela, Crimea or generally includes other countries and jurisdictions, any other geographic area in which access to or use of the Services, or the Website is prohibited by Applicable Law, decree, regulation, treaty, or administrative act. List of Prohibited Jurisdictions may vary and be expanded later.

Sanctions List

Shall mean the Specially Designated Nationals and Blocked Persons (“SDN”) List and the Non-SDN List, including the “Sectoral Sanctions Identifications List”, published by OFAC, the Section 311 Special Measures for Jurisdictions, Financial Institutions, or International Transactions of Primary Money Laundering Concern published by FinCEN, and, any other foreign terrorist organization or other sanctioned, restricted, or debarred party list published by the FIA, or under Economic Sanctions, Anti-Money laundering, or Combating the Financing of Terrorism Laws of or by Governments of the United States, the United Nations, or any other jurisdiction or Government, as applicable to You or to the Website, as amended, supplemented, or substituted from time to time.

User Account

Available on the Website special registration form. Detailed description of the User Account feature is given in the Section 2 of these Terms [Also may be referred as to the “Account”].

User Balance / Balance

Certain amount of cryptocurrencies / digital assets, which belong to the User and are available at the User Account (includes Ciclex Wallet and Ciclex Staking).

User or You

Any person, who uses the Platform or other Services of a Company.

Website

A Website owned and operated by the Company and available on the Internet via address: https://ciclex.com/

Services

Any and all services, that are offered by the Company via https://ciclex.com/ Website.

ELIGIBILITY AND PROHIBITION OF USE:

  • By creating of an Account on Website or using our Services, You expressively guarantee and agree to the following:
  • At the time of registration, You are at least 18 years old and have reached the age from which You are legally able to enter into contracts (hereinafter also “Minimum Age”);
  • You have full power and capacity to agree to and accept these Terms & Conditions;
  • You have not already had an User Account closed for any reason, except as under Your request;
  • You have fully accepted and with no exceptions and exemptions agreed with these Terms and Accompanying Documents;
  • You have ensured the legality of using Platform or any single aspect of it in Your jurisdiction. In case You are not sure of the legality of using our Services in Your country, please contact local lawyers. If You are a citizen or resident of a geographic area in which access to or use of Ciclex, other offered Services, cryptocurrency is prohibited by applicable law, decree, regulation, treaty, or administrative act we reserve the right to refuse in providing You with Services;
  • All Personal Data or other information provided by You to Us, either during the registration process or at any time afterwards (including as part of any use of the Services), are true, current, accurate, complete and not misleading and, as appropriate, match the name(s) on the credit/debit card(s) or other payment accounts to be used to for purchases with Fiat Currencies.
  • In the event of any changes to details previously provided by You to Us, You will promptly update your details through the appropriate section on the Website. Please note that any change to Your Personal Data may prompt initiation of additional KYC procedures.
  • You shall not allow any third party (including a relative) to use Your User Account, password or identity to access or use the Platform or other Services and You shall be fully responsible for any activities undertaken on Your Account by a third party. You will not reveal Your Account username or password to any person and You shall take all steps to ensure that such details are not revealed to any person. You shall inform us immediately if You suspect that Your Account is being misused by a third party and/or that any third party has access to Your Account username or password, so that We may investigate such matter, and You will cooperate with us, as We may request, in the course of such investigation.
  • You agree to provide upon our request any and all identification documents to help us follow requirements of the Anti-Money laundering (hereinafter also may be referred as to the “AML”) and Combating the Financing of Terrorism (hereinafter also may be referred as to the “CFT”) legislation pursuant to security safeguards described in the Privacy Policy and will comply (throughout the time as a User) with all relevant statutes pertaining to money laundering and proceeds from criminal activities;
  • In particular, we reserve the right to ask You to provide us with documentation or information proving source of the funds used for the depositing/trading/staking on Platform, information regarding personal or economical activities, documentation regarding already made transactions and etc. If You fail to submit mentioned above, or other requested by Us documents, Your Account may be suspended;
  • That there are no grounds for believing, that You have participated or contributed to the commissions of the Terrorist Act or have been involved in money laundering, terrorist financing;
  • You are not included in the Sanction Lists;
  • If You are acting on behalf of the legal entity, You have the full required capacity and are duly authorized to act on behalf the legal entity.
  • You have read and understood the present Agreement.
  • You understand, that usage of the Services cannot be considered as investment in any way;
  • You use Ciclex Staking Section solely for the purpose of gaining access and usage rights with the Platform for receipt of bonuses as well as for the correct operation of the Platform (support of the development, testing, expansion and operation of the Platform), realizing all the commercial risks attributed to the Company and the Platform. You do not use Platform for any other goals, including investment goals, speculative or other financial goals but not limited to them;
  • You are not the resident of the Prohibited Jurisdictions. For avoidance of the doubt, You are the Resident of the Prohibited Jurisdictions if You are meeting one of the following:
  • Lawful permanent resident of Prohibited Jurisdictions; and/or
  • An individual who meets the “substantial presence” test described in section 7701(b)(3) of the U.S. Internal Revenue Code of 1986 (as amended); and/or
  • An individual who holds a passport issued by Government of Prohibited Jurisdiction; and/or
  • A corporation, partnership, or other entity established or organized in or under the Laws of the Prohibited Jurisdictions; and/or
  • Any trust if (i) a court within the Prohibited Jurisdictions is able to exercise primary supervision over the administration of the trust, and (ii) one or more persons listed in clause 1.1.14. of these Terms have the authority to control all substantial decisions of the trust; and/or
  • Any legal entity organized or incorporated outside the Prohibited Jurisdictions in which any of the foregoing, whether singularly or in the aggregate, directly or indirectly holds a 50 percent or greater equity interest by votes or value, holds a majority of seats or memberships on the board of directors of the entity, or authorizes, establishes, directs, or otherwise controls the actions, policies, personnel decisions, or day-to-day operations of the legal entity.
  • You will use our Platform, Services solely for lawful purposes and will not attempt to affect anything within the Services with criminal intent or in a manner that adversely affects the reliability of the Services or the integrity of our Company. Prohibited activities, transactions, and usage of the Platform, Services, beside mentioned in the clause 1.1.18 and other of these Terms, include actions related to (but not limited to):
  • Money laundering, terrorist financing, proliferation of weapons of mass destruction;
  • Human trafficking;
  • Any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organizations glorifying war or violating human dignity;
  • Any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
  • Archaeological findings;
  • Drugs, narcotics or hallucinogens;
  • Weapons of any kind;
  • Illegal gambling services;
  • Goods that are subject to any trade embargo;
  • Media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
  • Body parts or human remains;
  • Protected animals or protected plants;
  • Weapons or explosive materials; or
  • Any other illegal goods, services or transactions.
  • You also shall not misuse the Platform or the Website to cause any harm, damage, losses or interference for Users, any third parties, Company, as well as the operation of the Website and/or provision of the Services. In particular, under no circumstance You shall use the Platform or Website to:
  • Publish, post, send, upload, submit, display or disseminate any information or material and/or otherwise make available or engage in any conduct that is unlawful, discriminatory, harassing, libelous, defamatory, abusive, threatening, harmful, offensive, obscene or otherwise objectionable;
  • Display, upload or transmit material that encourages conduct that may constitute a criminal offense, result in civil liability or otherwise violate or breach any applicable laws, regulations or code of practice;
  • Interfere or violate the legal rights (such as rights of privacy and publicity) of others or violate others use of the Website or the Services;
  • Violate any applicable laws, regulations or these Terms;
  • Violate, infringe or misappropriate any Intellectual or industrial Property Right of any person (such as copyright, trademarks, patents, or trade secrets, or other proprietary rights of any party) or commit a tort;
  • Interfere with, disrupt, negatively affect or inhibit other Users from using the Platform or Website or links on the Website to damage, disable, overburden or impair the functioning of the Website or Platform, our servers or any networks connected to any of our servers in any manner;
  • Engage in or promote any activity that violates these Terms;
  • Create a false identity for the purpose of misleading others or fraudulently or otherwise misrepresent Yourself to be another person, but not limited to, an authorized user of the Ciclex or Website or a Company representative, or fraudulently or otherwise misrepresent that You have an affiliation with a person, entity or group;
  • Mislead or deceive us, our representatives and any third parties (including Company) who may rely on the information provided by You, by providing inaccurate or false information, which includes omissions of information;
  • Disguise the origin of any information or material transmitted through the Website or the Platform (whether by forging messages or otherwise manipulating normal identification information);
  • Upload or send us files that contain viruses, Trojan horses, worms, time bombs, cancelbots, corrupted files, or any other similar software or programs that may damage the operation of the Platform or of the Website or the operation of another’s computer or property;
  • Send, upload, display or disseminate or otherwise make available information or material containing or associated with spam, junk mail, advertising for pyramid schemes, chain letters, virus warnings (without first confirming the authenticity of the warning), or any other form of unauthorized advertising or promotional information or material;
  • Make available any content which is false, misleading and/or promoting illegal activities;
  • Access any content, area or functionality of the Platform or Website, that You are prohibited or restricted from accessing or attempt to bypass or circumvent measures employed to prevent or limit Your access to any content, area or functionality of the Website;
  • Obtain unauthorized access to or interfere with the performance of the servers which host the Website or provide the Services or any servers on any associated networks or otherwise violate any policies or procedures relating to the use of those servers;
  • Attempt to gain unauthorized access to any Services, other accounts, computer systems, or networks connected to any of our servers through hacking, password mining, or any other means;
  • Obtain or attempt to obtain any materials or information through any means not intentionally made available through the Platform or Website;
  • Harvest or otherwise collect, whether aggregated or otherwise, data about others including e-mail addresses and/or distribute or sell such data in any manner; or
  • Collect and store Personal Data, private and personally identifiable information without express consent and authorization of the holder.

If mention above conditions are not met or fulfilled, we reserve the right to refuse in providing You with Services and to close Your User Account.

  • Company maintains the right to select its markets and jurisdictions to operate and may restrict or deny the Services in certain countries at its discretion. Including, but not limited to, such decision may be made depending on the User’s place of residence (and/or other legal facts), the User may not be able to use all the functions of the Platform.
  • Company currently may restrict exchanging, staking [Exchange Section or Staking Section of the Platform] or other activity for Users (including residents and citizens, or through agency or representation) in certain jurisdictions (including, but not limited to Prohibited Jurisdictions).

REGISTRATION OF THE USER ACCOUNT, KYC PROCEDURES, ACCOUNT TERMINATION.

    • In order to use the Platform, the User shall accept these Terms and the Accompanying Documents (by checking the relevant box viewed in on the Website during the registration procedure), complete the registration form (choosing password and log-in details) and open an Account. The User must fill in the registration form provided on the Website and provide required details and follow other on-screen instructions. If You lost the password or other Account details, please contact us via email: [email protected]
    • We may, on registration of Your Account with us and at any time thereafter request You to pass the KYC (Know Your Customer) procedures. For passing KYC, we may ask You to send us the following information and documents proven respective info:

    • Colored scan-copies of ID Documents. User may choose between several types of documents, which are acceptable: international passport, residence permit, driver license, travel document;
    • Colored scan-copies of documents, proving the residing address of the User (as a confirmation of the residing address, User may download relevant bank statements, utility bills, but not older than three months or other documents).
    • In certain cases (when additional verification by bank or compliance authority is needed according to governmental rules, our AML or KYC policies) we may require You to provide additional information, and namely:
    • Numbers that You may use or have registered with Your local tax authority (TIN number for example);
    • Additional photographs of You;
    • Confirmation of proceeds sources (for example, additional bank statements);
    • Sworn statements;
    • Information regarding Your’s occupation or field of activity;
    • Information whether You perform or has performed essential functions of public authority or whether You are a family member of such persons;
    • Other information or documentation prescribed in the Applicable Law.
    • If any of the above documents are requested, prior to sending them to us we may require them to be certified as a true copy of the original by a Solicitor or a Lawyer who must use their company stamp. We require the documents to be sent to us in high quality color format. We reserve the right to reject any documents, which do not comply with the above or if we have doubts as to their veracity. After the KYC procedures are over, You will be allowed to finish the registration procedure, deposit cryptocurrencies or Fiat (if possible) into the User Balance (Ciclex Wallet) and to use the Platform.

    • We will treat as highly confidential the information the User entrusts to us, in accordance with the disclosures We provide during the registration process and in accordance with our Privacy Policy. Moreover. Privacy Policy also contain additional information on what other data about You may be collected on the Website used, processed and disclosed.
    • We have the right to refuse the acceptance of the registration application at our sole discretion without obligation to indicate the reason for the refusal.
    • You must provide us with the complete and accurate information about Yourself, as well as an e-mail to reach You. You confirm that You will update this information so that it always remains relevant. In the event that You intentionally provide false or inaccurate information about Yourself, We have the right to suspend Your Account until we clarify the circumstances of such event. We will notify You by sending an email.
    • You have the right to register and operate a single Account within our Services. If we find out that You hold several Accounts, all of them may be immediately terminated, You will be notified by email if this happen. We may choose not to wipe all of Your Accounts in our sole discretion.
    • If the information requested for authorization on our Services is correct, we have the right to assume that it is You the one who take actions on Your account. In the event that You suspect that Your account is illegally used by a third party, You must inform us about it as soon as possible by contacting support team from Your registered email. In the event that Your registered email address has been hacked, let us know about it, but in this case we may require additional information or documents to verify Your identity. You are responsible for any actions taken from Your Account, including third party access.
    • We provide both accounts for personal usage and for legal entities (business accounts). Business accounts are subject to the additional due diligence and KYC requirements, though we reserve the right to require additional information, documentation regarding the legal entity itself or its authorized representatives (including, but not limited to):
    • The business name of the legal entity;
    • The registry code or registration number and time;
    • The KYC documents (mentioned in clauses 2.1 and 2.2. of these Terms) in respect to the entity’s:
    • Directors;
    • Shareholders;
    • Beneficiary owners, [hereinafter also may be referred as to the UBO] (refers to the natural person(s) who ultimately owns or controls a legal entity on whose behalf a transaction is being conducted and have ownership or control of more than 10% of the shares or voting rights in a legal entity);
    • Statutory documents;
    • Certificate of registration;
    • Source of funds confirmation;
    • Utility bills or similar documents;
    • Other documents upon written request from us.

We also may require mentioned in this clause documents to be notary or legalized in the other way which is acceptable by the Applicable Law or give our comments regarding such documents form.

  • Account Termination.
  • We reserve the right to suspend or terminate any User Account, or terminate the Terms & Conditions and close Your Account immediately upon giving You notice to the email address which You have supplied us with, if:
  • For any reason we decide to discontinue provision of the Platform, Website, Services to You or in general;
  • We reasonably suspect or You have breached any of the provisions of Terms (including, but not limited to if You are involved in any of the Prohibited activities [Section 1 of these Terms]) or if You have committed fraud, negligence or other misconduct;
  • Provided for the KYC purposes documents fail our internal checks as detailed previously in this Section;
  • We are so required by a subpoena, court order, order or request of a government authority or regulatory authority;
  • You take any action that we deem as circumventing our controls, including without limitation opening multiple Accounts;
  • Use of Your Account is subject to any pending litigation, investigation, or government proceeding or we perceive a heightened risk of legal or regulatory non-compliance associated with your account activity;
  • Our services providers (or Ciclex Providers) are unable to support Your use of the Services;
  • For any other reasonable ground we deem fit;
  • In the event we suspend or terminate Your access to Your account and the Services, You shall not be able to access Your Account and use any or all of the Services. Still, You will be able to withdraw Your cryptocurrencies to other wallets, if other is not mentioned by us in email sent to You. In such event of termination or suspension, We reserve the right to cancel outstanding and/or pending orders to purchase cryptocurrency via Exchange and stop bonuses distribution in Ciclex Staking. Your Contributions Amounts also shall be returned to You, if other is not mentioned by us in email sent to You or in other way.
  • You may terminate the Terms and close Your Account at any time by sending an email to us at [email protected] Such termination of the Terms & Conditions shall take effect upon the closing of Your Account (including username and password), which shall occur within 7-14 calendar days following receipt by us of Your email on our servers. You will remain responsible for any activity on Your account between sending us such email and the closing of Your Account by us.
  • The Company reserves the right to limit the User’s access to the Platform, Services associated with it or any part of them in its own discretion, at any time, without a prior notification, in particular because of legal reasons associated with counter-terrorism measures, money-laundering or any other applicable rules. Still, in case if such actions are required, we will do our best to notify you in advance and to solve the circumstances causing such situation to occur.

AML POLICY SUMMARY.

  • Both international and local regulations require Company to implement effective internal procedures and mechanisms to prevent money laundering (hereinafter also referred as to the “Anti-Money Laundering” or “AML”), terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users. In order to ensure that our operations are compliant with the AML rules and procedures, we are implementing the AML procedure detailed below. It shall be noted, that mentioned list is not exhaustive. We reserve the right to conduct and take additional measures for prevention of any other type of suspicious activity in cases established in Applicable Law. Our AML Policy, briefly, includes:
  • Identification and verification of Users before entering a financial business relationship (or, in some cases, as soon as after entering into a financial business relationship);
  • Establishment and maintenance of the risk-based customer due diligence including enhanced due diligence for those customers presenting higher risks;
  • Transactions monitoring of the customer financial behavior based on risk-based analysis;
  • Procedures for reporting suspicious activity internally and to the relevant law enforcement authorities;
  • Periodical AML trainings for Company’s personnel.
  • Company enforces a strict anti-money laundering policy with zero tolerance for money laundering activities. We define money laundering as any activity that is carried out in an attempt to misrepresent the source of funds actually acquired through illegal processes as funds that were acquired through lawful sources/activities.
  • All Affiliates are obligated to comply with Company’s AML practices and with all applicable Anti-Money Laundering laws. Failure to comply can result in severe consequences such as criminal penalties and heavy fines.
  • Company implements a range of filtration operations for swift and accurate identification of any financial activities that may constitute or are related to money laundering, having established the special risk assessment procedures helping to identify does the transaction has a risk to be involved in money laundering or not. This helps ensure a money laundering-free financial operations throughout the Company.
  • The User will comply (throughout the time as a Ciclex Platform User) with all relevant statutes pertaining to money laundering and proceeds from criminal activities.
  • Company reserves the right to delay or stop any funds transfer if there is reason to believe that completing such a transaction may result in the violation of any applicable law or is contrary to acceptable practices.
  • Company reserves the right to suspend or terminate any Account or freeze the funds in an Account if there is reason to believe that the account is being used for activities that are deemed unlawful or fraudulent.
  • Company has the right to use User information for the investigation and/or prevention of fraudulent or otherwise illegal activities.
  • Company has the right to share User information with:
  • Investigative agencies or any authorized officers who are helping us comply with Applicable Law, including Anti-Money Laundering laws and KYC obligations;
  • Organizations that help Company provide the Services it offers its Users;
  • Government, law enforcement agencies and courts;
  • Regulatory bodies and financial institutions;
  • In other cases, that are prescribed in the Privacy Policy.
  • Activities that Company considers possible indications of money laundering and factors, that dramatically increase possibility of the money-laundering include:
  • The User showing unusual apprehension or reservations about Company Anti-Money Laundering Policies;
  • The User’s interest in conducting financial transactions which are contrary to good business sense or are inconsistent with the User’s business policy;
  • The User failing to provide legitimate sources for his/her funds;
  • Upon identification of a User or verification of submitted information, there are doubts as to the truthfulness of the submitted data, authenticity of the documents or identification of the beneficial owner;
  • The User participating in the transaction or professional act made in economic or professional activities, the person using the professional service or the customer is a politically exposed person, except for a local politically exposed person, their family member or a close associate;
  • The User providing false information regarding the source of his/her funds;
  • The User having a history of being the subject of news that is indicative of civil or criminal violations;
  • The User seems to be acting as a ‘front man’ for an unrevealed personality or business, and does not satisfactorily respond to requests for identifying this personality or business;
  • The User not being able to easily describe the nature of his/her industry;
  • The User frequently makes large deposits and demands from us dealing in cash equivalents;
  • The User maintains multiple Accounts and conducts an unusually high number of inter-account or 3rd party transactions;
  • ly inactive account starts receiving a surge of wire activity;
  • The User is a legal entity, the majority of whose shares form the bearer shares;
  • The User is a legal entity, registered in a low-tax area or in the jurisdictions, indicated in the “Revised EU list of non-cooperative jurisdictions for tax purposes”, (Annex I “The EU list of non-cooperative jurisdictions for tax purposes” of Council conclusions on the revised EU list of non-cooperative jurisdictions for tax purposes 2020/C 64/03 as from the 27.02.2020).
  • We point Your attention again, that the above list is by no means an exhaustive list. Company monitors its User’s and Account’s activity in light of several other red flags and takes appropriate measures to prevent money laundering.

GENERAL PROVISIONS AND OFFERED SERVICES.

  • Company is not a banking institution, though stored cryptocurrencies are not subject to any governmental security or insurance program.
  • After the registration is over, You will be entitled to open a free Account and, to make a deposit of cryptocurrencies for storage/exchange or other Services.
  • As a result of the transfer of own cryptocurrencies to the Platform by the User the last one does not acquire the status of the lender of the Company.
  • Transfer of own cryptocurrencies to the Platform by the User is not a procedure of “investing” in any understanding and interpretation of this term, and all terms outlined in these Terms should not be construed as “investing” in any form.
  • Transfer of own cryptocurrencies to the Platform by the User is not a procedure for investing in a common enterprise and / or is not a procedure for investing in the Company.
  • Transfer of own cryptocurrencies to the Platform by the User does not give the User the right to participate in the Company’s profits and / or losses, and does not give the User the right to participate and / or receive a share in the assets and / or liabilities of the Company’s.
  • The User does not obtain a participation share in any legal body as a result of transferring of the owned cryptocurrencies to the Platform, including share in the Company or share in the Company’s capital.
  • Participation of the User in the Referral and bonus programs does not create agency or employment relations between Company and User.
  • Be advised, that the usage of the Services and any elements of its functionality shall be voluntary. You will have Your own choice regarding your activities within Company, but please note that each User is responsible for its own activities. In addition, You must be aware of any potential risks, as further outlined in this Agreement, and respect other Users.
  • Ciclex Wallet:
  • Our Ciclex Wallet (also may be referred as to the “Initial Wallet”) is the exclusive blockchain based software for people, that allows Users to store and manage supported cryptocurrencies. List of supported cryptocurrencies includes: BTC, ETH, LTC, USDT. Others may be added soon and is part of an Initial Wallet.
  • Initial Wallet’s interface is divided into 3 parts – “subwallets”: Main Balance, Staked Balance (actual bonuses from staking of cryptocurrencies in this Section) and Balance in order.
  • Contribution Profits (daily bonuses) displays the bonuses You receive in result of usage of Your cryptocurrencies, which are transferred to the Staking Section in transfer day. To dispose the bonuses (for example, for usage in Section Exchange or for withdrawal), You have to withdraw them to the Ciclex Wallet. Withdrawal amount cannot exceed $ 10,000 within 10 days.
  • Affiliate [also may be referred as to the “Referral”] Bonuses displays the bonuses You receive in result of successful attracting new Users, which made a Contribution to the Section Staking of the Platform via relevant referral links in accordance to the provisions, mentioned below. To dispose the bonuses, You have to withdraw them to the Main Balance.
  • You receive bonuses in the type that corresponds to the transferred cryptocurrency.
  • Making deposit:
  • At the moment, it is possible to deposit funds into Your Account only via supported cryptocurrencies;
  • All deposits, which are equal to or exceed the amount of 10 000 USD are subject to the additional KYC Procedures, prescribed in the Section 2 of these Terms;
  • The deposit is considered to be received, when we receive the relevant amount of cryptocurrencies;
  • The timing associated with a deposit will depend in part upon the performance of third parties responsible (for example, if You are making a deposit via cryptocurrency, from current status of relevant blockchain).
  • Making withdrawal:
  • You can make a withdrawal of cryptocurrency to external addresses, services, accounts by sending a relevant withdrawal request via the Platform;
  • In some cases, prior to making of a withdrawal, You may be required to pass additional KYC measures (as is stipulated in the Section 2 of the Terms);
  • We undergo to fulfill the withdrawal request as soon as possible, provided, that You have no balance remained owned to us as fees for the Services provision;
  • We charge a certain fee for the withdrawal, which can be viewed on the Website (equal to the 0.3% from the sum of a desired withdrawal).
  • Features of the Ciclex Wallet include:
  • Storing, depositing, transferring and withdrawal of supported cryptocurrencies;
  • Transferring of cryptocurrencies to the section Ciclex Staking or using them for exchange via the Ciclex Exchange;
  • Each transfer is subject to the special fees and commissions, which can be viewed on the Platform. Prior to make any actions You have to familiarize Yourself with such fess and agree with them. For example, fee for the depositing is equal to the 0.3% from the depositing sum;
  • To close stake you need to pass KYC procedure if you haven’t done it before.

Warning: Sending of cryptocurrencies to the Ciclex Wallet, which are not mentioned above (e.g. supported), may result in loss of cryptocurrencies without possibility of further redemption. By accessing and using of the Ciclex Wallet and Platform in general, the USER agrees that he or she is solely responsible for any and all transactions, deposits, withdrawals, transactions conducted via their User Accounts.

  • Pay attention to the fact, that Company doesn’t create, and has no control over, cryptocurrencies You interact with through Ciclex Wallet, Staking– so it’s up to You to interact with them prudently. Thus, before starting using of the Platform, You should learn the basics about cryptocurrencies. Search for the information online, vet them carefully, find someone who knows more and ask them;
  • As it was mentioned, Ciclex Wallet provides functions for sending cryptocurrencies transfer instructions. Company doesn’t control the blockchains to which the instructions are sent.
  • Ciclex Exchange.
  • Our Platform allows You to purchase or sell to us, Bitcoin, Ethereum, Litecoin and other supported currencies available from time to time in consideration for another cryptocurrency.
  • List of supported cryptocurrencies include:
  • Bitcoin (BTC);
  • Ethereum (ETH);
  • Litecoin (LTC);
  • USDT;
  • Others, which can be found on the Website or added later.
  • Exchanging of cryptocurrencies: following Your opening of an User Account with us and making a deposit as is prescribed above, You will be able to exchange supported cryptocurrencies under applicable Exchange Rate (the price of a given supported cryptocurrency in another cryptocurrency as quoted on the Website). Only cryptocurrencies from Main Balance may be used for exchanging. Following Your delivery of cryptocurrency bought by us being receive, subject to the provisions of the Terms & Conditions, We shall deliver to Ciclex Wallet (to the Main Balance) address opened with us, the cryptocurrency bought by You.
  • Each exchange of cryptocurrency is subject to the Exchange Rate for the given transaction and to the certain fee, which is equal to the 0.3% of the amount of cryptocurrencies for exchange. The Exchange Rate is stated on the Website right before You submit the order for exchanging.
  • You hereby understand and agree that any price or rate of cryptocurrency which appears on the Website, at which we exchange cryptocurrency, is accurate for that moment alone, due to the highly volatile nature of the price of cryptocurrency and the period of time required for completing the transaction. The Final Price of Your transaction (the “Final Price”) will be the transaction rate which appears on the Website upon execution and as stated in the order transaction summary, subject to the deduction of the fee, as is specified on the Website;
  • Any order by You to exchange cryptocurrency shall be considered as pending and not completed until our receipt of cryptocurrency confirmation (as applicable) as described below (the “Payment Confirmation” or “Delivery Confirmation”) and shall not be binding on us in any way whatsoever until such Payment Confirmation or Delivery Confirmation is received by You. With respect to delivery of cryptocurrency made by You to us, the actual receipt of cryptocurrency in our designated electronic wallet.
  • As soon as reasonably practicable after Payment Confirmation or Delivery Confirmation, as the case may be, and subject to Your completion of our KYC process to our satisfaction (if required), We shall execute Your order at the Final Price (the “Execution”).
  • Upon Execution of Your exchange order of cryptocurrency, the relevant cryptocurrency shall be delivered by us to Your designated Ciclex Wallet.
  • In rare circumstances, The Company reserves the right to either cancel Your order or offer You a different price for the Service.
  • Ciclex Staking.
  • This Section consists of an automated software that has been developed by the Company and provides Users with the possibility of using our Platform’s algorithms for participating in the autonomous distribution of bonuses by the way of transfer of their own cryptocurrencies and later receiving bonuses depending from the Platform’s activity and Contribution amount. Procedure of transfers of Your cryptocurrencies into the Section Staking of the Platform is called a Contribution.
  • In prior to transferring cryptocurrencies to this Section of the Platform (making a Contribution), You have to pass the registration procedure, KYC and make a deposit as is prescribed earlier in these Terms. As is was already mentioned, in some cases, we may refuse to provide You with Ciclex Staking Section services due to the different circumstances.
  • The transfer of cryptocurrencies to the Ciclex Staking for its use in accordance with the general rules is carried out for 1 year. At the same time, this condition does not limit the ability of the User to withdraw their cryptocurrencies from the Ciclex Staking earlier, subject to a certain penalty from the Contribution Amount:
  • 30% if User withdraws cryptocurrencies during 90 calendar days since the Contribution;
  • 20% if User withdraws cryptocurrencies from 90 to 150 calendar days since the Contribution;
  • 10% if User withdraws cryptocurrencies from 150 to 180 calendar days since the Contribution;
  • The User also accepts the condition on the automatic extension of the Platform’s rights to use his cryptocurrencies: if after the expiration of the annual usage period the User does not make a request to receive the initially transferred Contribution Amount and accrued bonuses within 3 calendar days, this rule will come into effect and the cryptocurrencies of the User will be “locked-up” for the next calendar year in the Ciclex Staking Section.
  • Minimum Contribution Amount is equal to the 100 USD equivalent. Maximum Contribution Amount is not currently set.
  • We may conduct certain marketing events or giveaways, conditions of which may be different from mentioned in this Terms. If information regarding such info is displayed on the Website contraries with the provisions of these Terms, conditions of such events shall prevail.
  • It shall be noted, that You can contact Company if You would like to make large deposits and to receive special conditions and to conclude separate contract, governing our cooperation.
  • Received Contributions Amounts shall not be further used for the investment purposes by the Company or it’s Affiliates, contractors.

REFERRAL SYSTEM.

  • The User can receive the Referral bonuses for successful attraction of new Users to the Platform, subject to the conditions and requirements, established by these Terms.
  • You will be provided with a referral link right after the creation of the User Account. Such referral link, can be used by future Users for the registration.
  • The User, which have sent the referral link (hereinafter also may be referred as to the “Parent-User”) can in his User Account access and view amount of User (via special “Referral Table”), which have registered via previously provided referral link (“Child-User”). The referral Bonus will be sent only, after the minimum Contribution is sent by the “Child-User”. Referral bonuses are awarded to the User daily. The User can withdraw bonuses by making a request which will be process by us.
  • The Referral Table, which can be viewed in the User Account, contains the following information:
  • Amount of Users which had registered, but didn’t make the minimum Contribution;
  • Amount of Users, which registered via Your referral link after Contribution had been made;
  • Contribution amount made by the Users, mentioned in the previous clause in USD equivalent and Your bonus amount in the USD equivalent;
  • Other information.
  • There is also a special section called “Summary”, which is available in the User Account and include the following types of the information:
  • Amount of Contributions made by Your Child-Users;
  • Other info.
  • Parent-User can increase applicable percent of Referral bonuses for the further contributions attraction by the Child-Users in accordance to the so-called “Qualification Levels”, which are divided into the certain tiers, depending from the Contribution Amounts, made by the Child-Users (mentioned later in these Terms and subject to the other conditions, which are stipulated in these Terms) Moreover, in addition to the mentioned above Qualification Levels, Parent-User will be also awarded with a special fixed Rewards, as defined later in these Terms and which is payable in cryptocurrency equivalent to such Parent User.

Qualification Levels Table:

Contribution Amount
Qualification
Level
Referral bonus
in % from the Contribution
Amount.
Special Fixed Rewards
None

  • 0
  • 5%
  • None
  • 10 000
  • USD equivalent
  • 1
  • 7%
  • None
  • 25 000
  • USD equivalent
  • 2
  • 9%
  • 500
  • USD equivalent
  • 50 000 equivalent
  • USD equivalent
  • 3
  • 10%
  • 1000
  • USD equivalent
  • 100 000
  • USD equivalent
  • 4
  • 11%
  • 3000
  • USD equivalent
  • 500 000
  • USD equivalent

  • 5
  • 11.5%
  • 10 000
  • USD equivalent
  • 1 000 000
  • USD equivalent
  • 6
  • 12%
  • 30 000
  • USD equivalent
  • 3 000 000
  • USD equivalent
  • 7
  • 12.5%
  • 50 000
  • USD equivalent
  • 5 000 000
  • USD equivalent
  • 8
  • 13%
  • 100 000
  • USD equivalent
  • 10 000 000
  • USD equivalent
  • 9
  • 13.5%
  • 150 000
  • USD equivalent
  • 25 000 000
  • USD equivalent
  • 10
  • 14%
  • 250 000
  • USD equivalent

  • Qualification upgrades. Referral bonuses scheme consists of 4 lines. After the Contribution is made by the Child-User from the first horizontal line, Parent-User will receive 100% of the first horizontal line;
  • Other horizontal upgrades vary:
  • If the Contribution Amount is less or equal to the next qualification sum, which is mentioned in the Qualification Levels Table above, then 50 % of the Contributions amount accumulates;
  • If the Contribution Amount is bigger or equal to the next qualification sum, which is mentioned in the Qualification Levels Table above, then 50 % of the next Contribution amount accumulates;
  • If all qualification sums out of the one vertical line are equal or bigger then 50% of qualification sum, then the accumulation for this horizontal line shall be stopped;
  • Please be advised, that as were already mentioned in these Terms, applicable Qualification Levels, Referral bonuses can be changed unliterary upon sole discretion of the Company. Still, if You have any questions regarding the Referral or other matters, You can contact us online via support chat or email [email protected]
  • As it was already mentioned, if You would like to contact the Company regarding our cooperation and to receive specific, individuals conditions, You shall use the above provided email: [email protected]

COMPANY’S RIGHTS.

  • In addition to aforementioned, the Company has the right (including, but not limited) to:
  • Temporarily stop the usage of the Platform for technical maintenance;
  • Form the accounting bases of the User, their personal data and their transactions (more information on how we treat User’s personal data can be found in the Privacy Policy, available on the Website);
  • Gather, systematize, collect, store, destroy, update, modify and process by other non-proscribed way and distribute the User’s Personal Data for purposes related to the execution of and compliance with the provisions of this Agreement and the interests of the User.
  • Retain email correspondence with the User for the purpose to use it as evidence in resolving possible conflict situations;
  • Engage third parties for the Services provision;
  • Independently, on the sole discretion to determine the form and methods of Services providing on the basis of legal requirements, technical capabilities, as well as the specific terms and conditions of the Agreement at any time without prior notice to the User;
  • At any time, on the sole discretion of the Company, to modify, suspend or terminate any Service, content, feature or product offered through the Platform, with or without prior notice to the User, or to unliterally, in Company’s own and sole decision, change any and all provisions of the Agreement.
  • If the User breaches any of his obligations, other provisions of the Agreement or the applicable laws and/or if the User abuses his/her rights and such a breach has resulted or may result in inflicting damage on the other User, Company has a right to take one of the following measures for terminating the breach at its own discretion without any separate explanations:
  • To remove the content which breaches the Terms (article/note, text, image, etc.);
  • To block the User’s Account temporarily i.e. to deprive the User Account temporarily of the possibility to use the Services till he eliminates the breaches. Review of the case and unlock may take up to 30 days. Accrual of bonuses do not occur until the User Account is temporarily blocked;
  • To block and delete the User’s Account for good and all i.e. to deprive the User indefinitely of the right to the authorization in the User Account;
  • To rectify otherwise the consequences of the User’s negative acts breaching these Terms.

COMPANY’S INTELLECTUAL PROPERTY.

  • Company retains all rights, title and interest in and to the Website, Platform and the Services, whether express or implied, including all copyrights, patents, trade secrets, trademarks, other intellectual property rights, trade names, logos, slogans, custom graphics, button icons, scripts, videos, text, images, software, code, files, content, information and other material available on the Website, Platform.
  • Accessing the Website or the Platform and using the Services does not vest You with any right, title or interest in the Intellectual Property and other rights to content which is accessible at the Website, Platform or through the Services unless otherwise is provided in this Agreement.
  • In order to use the Website, Platform and the Services, You are granted personal, non-exclusive, limited, non-assignable, non-transferrable, royalty free, revocable license to access, review, reproduce, cache, print, distribute and store content retrieved from the Website, Platform or the Services only within the functionality of the interface of the Website or the Services through common consumer web browser, provided that You strictly comply with imitations contained herein.

LIMITATION OF LIABILITY AND INDEMNIFICATION.

  • Disclaimer of Warranties. Users expressly acknowledge and agree that use of the Services is at their sole risk. Users further acknowledge and agree that the Services are provided on an “AS IS” and “AS AVAILABLE” basis. Neither Company nor any of its parents, subsidiaries, Affiliates, licensees, licensors, contractors, agents, content providers, vendors, component suppliers (both hardware and software), and/or any third party who provides products or services purchased from or distributed by Company as well their respective officers, directors, members, managers, representatives, agents, employees, investors or the like (collectively “Ciclex Providers”), warrant Services offered by us, Affiliates or third-parties services providers will be uninterrupted, error-free, or free of viruses, worms, Trojan horses, keyboard loggers, spyware, adware, malware, harmful or malicious code, or free of other defects.
  • TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, COMPANY, CICLEX PROVIDERS DISCLAIM ALL IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, IMPLIED AND STATUTORY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF PROPRIETARY, INTELECTUAL PROPERTY RIGTHS REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED. CICLEX PROVIDERS MAKE NO REPRESENTATIONS TO THE OPERATION OF THE SERVICES, SECURITY OF THE SERVICES, AVAILABILITY OF ANY GOODS, SERVICES OR OFFERINGS OFFERED ON OR THROUGH THE SERVICES, PLATFORM, WEBSITE OR THE INFORMATION, CONTENT, SERVICES, MATERIALS OR PRODUCTS, INCLUDED ON OR THROUGH THE PLATFORM OR OTHER SERVICES. NEITHER COMPANY AND IT’S AFFILATES, NOR ANY CICLEX PROVIDERS MAKE A WARRANTY AS TO THE RESULTS THAT MAY BE OBTAINED FROM THE USE OF THE PLATFORM OR AS TO THE ACCURACY, RELIABILITY, OR CURRENCY OF ANY INFORMATION, CONTENT, OR SERVICES, PROVIDED ON OR THROUGH THE PLATFORM OR OTHER SERVICES. THE INFORMATION AND SERVICES PUBLISHED ON THE PLATFORM, OR ON THE WEBSITE OR THROUGH THE SERVICES MAY CONTAIN INACCURACIES OR TYPOGRAPHICAL ERRORS.
  • NEITHER COMPANY NOR THE CICLEX’S PROVIDERS GUARANTEE THE CONTINUOUS, UNINTERRUPTED, OR SECURE ACCESS TO THE SERVICES OR ANY ASPECT THEREOF. THE OPERATION OF THE SERVICES MAY BE INTERFERED WITH BY NUMEROUS FACTORS OUTSIDE THE CONTROL OF COMPANY AND THE CICLEX PROVIDERS. YOU UNDERSTAND AND AGREE THAT NEITHER COMPANY NOR THE CICLEX PROVIDERS SHALL BE LIABLE TO USERS FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, CONSEQUENTIAL, OR EXEMPLARY DAMAGES, INCLUDING, WITHOUT LIMITATION, DAMAGES FOR LOSS OF INCOME, LOSS OF DIRECT OR INDIRECT PROFITS, LOSS OF GOODWILL, LOSS OF DATA, LOSS OF CONTRACTS, ANY LOSS OF MONEY, ANY LOSS OR DAMAGES ARISING FROM OR CONNECTED IN ANY WAY TO BUSINESS INTERRUPTION, LOSS OF USE, OR OTHER INTANGIBLE LOSSES, WHETHER SUCH CLAIM IS BASED ON WARRANTY, CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE (EVEN IF COMPANY OR THE CICLEX’S PROVIDERS HAD BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), RESULTING FROM:
  • THE USE OR THE INABILITY TO USE THE SERVICES, PLATFORM;
  • UN AUTHORIZED ACCESS TO OR ALTERATION OF USER TRANSMISSIONS OR DATA; OPINIONS, VIEWS, ADVICE, STATEMENTS, OR USER CONTRIBUTIONS POSTED ON OR THROUGH THE SERVICES, PLATFORM OR • ANY OTHER MATTER RELATING TO THE SERVICES, PLATFORM.
  • YOU UNDERSTAND AND AGREE THAT NEITHER COMPANY NOR THE CICLEX PROVIDERS SHALL BE LIABLE TO USERS FOR ANY LOSS OR DAMAGES DUE TO VIRUSES THAT MAY INFECT USERS’ COMPUTER EQUIPMENT, MOBILE HANDSET, TABLET, SOFTWARE, DATA OR OTHER PROPERTY RESULTING FROM USERS’ USE OF THE PLATFORM, SERVICES. NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN AND REGARDLESS OF THE FORM OF THE ACTION, COMPANY LIABILITY TO USERS FOR ANY CAUSE WHATSOEVER WILL AT ALL TIMES BE LIMITED TO THE AMOUNT PAID, IF ANY, BY SUCH USER TO COMPANY FOR USE OF THE SERVICES, PLATFORM DURING THE TERM OF THEIR REGISTRATION.
  • IN THE EVENT THAT A USER RESIDES IN A JURISDICTION THAT DOES NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES, OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES SOME OF THE LIMITATIONS ABOVE MAY NOT APPLY TO SUCH USER OR APPLY IN EXENT ESTABLISHED BY THE APPLICABLE LAW.
  • WE SHALL NOT BE RESPONSIBLE FOR ANY USE WHATSOEVER YOU DECIDE TO MAKE WITH ANY OF THE CRYPTOCURRENCY PURCHASED/EXCHANGED OR RECEIVED AS BONUS FROM US OR OTHERS IF ANY AND DELIVERED TO A DESIGNATED CRYPTOCURRENCY WALLET, AND ANY SUCH USE, INCLUDING WITHOUT LIMITATION ANY INSTRUCTION YOU MAKE TO TRANSFER THE CRYPTOCURRENCY PURCHASED TO AN EXTERNAL WALLET SHALL BE MADE AT YOUR OWN VOLITION, IN YOUR CAPACITY AS OWNER OF THE CRYPTOCURRENCY, WITHOUT ANY DISCRETION OR KNOWLEDGE ON OUR PART, AND YOU CONFIRM YOUR UNDERSTANDING THAT SUCH INSTRUCTION TO TRANSFER CRYPTOCURRENCY TO AN EXTERNAL WALLET IS NOT REVOCABLE AND CANNOT BE RETRIEVED.
  • WE SHALL NOT BE LIABLE TO YOU IN ANYWAY WHATSOEVER FOR THE TRANSFER OF ANY AND ALL CRYPTOCURRENCY IF YOU PROVIDE US WITH ANY INCORRECT AND/OR INCOMPLETE CRYPTOCURRENCY WALLET DETAILS.
  • These Terms should not be considered an investment consultation, a solicitation for sale or subscription, neither does it imply the invitation for the purpose of sale or subscription offering. • You hereby agree to fully indemnify and hold harmless to its directors, employees, partners, affiliates, and any other Ciclex Providers for any cost, expense, loss, damages, claims and liabilities howsoever caused that may arise in relation to Your use of the Platform and or offered Services.
  • We are not liable to the User for violations arising from: i) the User’s own mistake; ii) actions of a third party that is not related to fulfillment of our obligations under these Terms (for example, failure due to improper operation of the communication system, its overload and problems connecting to it or due to improper operation of the User’s computer equipment); iii) other events that could not have been foreseen or prevented by us or Ciclex Providers, even if we or them took all the reasonable precautions.
  • We recommend to:
  • Check compatibility of our Services with Your device before use;
  • Take reasonable precautions against malware or devices, including installation of antivirus software;
  • Securely store Your registration details (such as password and log-in), use additional safeguards, which can be provided by us;
  • You acknowledge that Company shall be the final decision-maker of whether You have violated Terms in a manner that results in Your suspension or permanent barring from participation in our Platform or Services
  • We are not liable for any possible financial damage arising from the use of the Platform, unless otherwise specified before or later in these Terms.
  • We are taking effective measures to protect User’s Personal Data from any unauthorized use and is only making it available to parties involved in providing of Services through the Platform or Website. For detail information regarding how we treat keep and disclose Personal Data please refer to our Privacy Policy. Notwithstanding this, we are not responsible for how the information is further treated by third parties, for example third party software providers or affiliates. Treatment of User’s Personal Data by such parties is subject to terms and conditions of these parties, if any.

FORCE MAJEURE

We are not responsible for any problems or delays in operation of our Platform, Services that arise as a result of force majeure, because force majeure is not subject to our influence, despite the steps We take to prevent it. The events that shall be deemed as a force majeure under these Terms are the following: natural disasters; lack of power supply due to its sudden disconnection; failure in the provision of telecommunications services; action, termination or inaction of any government or authority; any other delays or failures by our contractors or other third parties. We are not responsible for any loss or damage incurred in connection with such events. We reserve the right to suspend provision of Services, functioning of Platform until elimination of problems connected with operation of our Services, Platform caused by force majeure, with no liability incurred.

COMPUTER VIRUSES AND CLICKING ON LINKS LEADING TO EXTERNAL WEBSITES OR APPLICATIONS.

  • You must take care of the security of Your device, which is used for accessing Platform, Services. We recommend You to install programs to protect Your devices from viruses, as well as approach to clicking on the links leading to external sites with due care.
  • The Website or the Platform may contain links to websites and third-party content, advertisements, promotions, logos and other materials (also may be referred as to the “Third-Party Content”). We make no representations or warranties of any kind regarding Third-Party Content, including, without limitation, the accuracy, validity, legality, copyright compliance, or decency of such Third-Party Content. We are not responsible for any of the content on third party websites linked to the Platform or Website nor can it be assumed that we have reviewed or approved of such websites or their content, nor do we warrant that the links to these websites work or are up to date.

MAINTENANCE AND SUPPORT.

Basic software maintenance and support services will be provided to You, and will include provision of such updates, upgrades, bug fixes, patches, and other error corrections (collectively, “Updates”) as Company will make generally available free of charge to all Users. Company may develop and provide Updates in its sole discretion, and User agree that Company has no obligation to develop any Updates at all or for particular issues. User acknowledge that Company may provide some or all Updates via Website and that User’s receipt thereof will require an internet connection, which connection is User’s sole responsibility. Company has no obligation to provide Updates via any other resources. Maintenance and support services do not include any new version or new release of the software that Company may issue as a separate or new product, and Company may determine whether any issuance qualifies as a new version, new release, or Update in its sole discretion.

APPLICABLE LAW AND DISPUTE RESOLUTION.

  • In case the User believes that Company by any action or inaction violates one or more articles of these Terms, he has the right to submit a complaint to Company.
  • The complaint should be submitted to Company in the way described in this Agreement. The complaint should contain the following:
  • User’s Name;
  • Date and time issue occurred;
  • Description of disputable situation with reference to an article/articles of this Agreement and/or a relevant regulation that the User considers violated.
  • Offensive or expletives complaints shall not be considered.
  • Company, having received a complaint, notifies the applicant via the electronic mail about the results of the examination within 30 working days from the date of receipt a complaint;
  • Company has the right to reject a complaint in case it does not meet the requirements of this Agreement. All complaints are examined in compliance with this Agreement and/or relevant regulations;
  • A ruling reached by the arbitration entity shall be considered final by both parties.

INTERPRETATION

We consider these Terms to be clear, however, if You have any questions regarding interpretation of these Terms, please contact us at [email protected]

SEVERABILITY

If any of these Terms determined to be invalid, unlawful or unenforceable to any extent, such term shall be excluded from these Terms, and the remaining terms shall continue to be valid to the fullest extent permitted by Applicable Law.

MISCELLANEOUS

  • These Terms shall be valid as long as You have access to our Services and You use them. These Terms shall not expire upon termination of Your Account on Platform or Website no matter what was the reason for termination of Your Account.
  • We reserve the right to block Your Account with possible confiscation of funds on Your Account, if according to our proceeding regarding Your particular case, we can assume that You have violated these Terms.

NOTIFICATION ABOUT RISKS

  • The User understands and accepts the risks in connection with use of the Platform set forth above and hereinafter. In particular, but not limited, the User understands the inherent risks listed hereinafter:

RISKS RELATED TO THE COMPANY:

  • Company has a limited operating history and any success to date may not be indicative of future results. Company has a limited operating history upon which an evaluation of its prospects and future performance can be made. Company’s proposed operations are subject to all business risks commonly associated with new enterprises. Using Services must be considered in light of the problems, expenses, difficulties, complications, and delays frequently encountered in connection with the inception of a business, the operation in a competitive industry, and the continued development of advertising, promotions, and a corresponding User base;
  • Risk of software weaknesses. The User understands and accepts that the Platform is still in development stage and unproven, why there is no warranty that the process for the actual transferring of cryptocurrencies to the Platform, or exchanging, or staking, or other related Services will be uninterrupted or error-free and why there is an inherent risk that the software could contain weaknesses, vulnerabilities or bugs causing, inter alia, the complete loss of stored cryptocurrencies;
  • Company and/or the Platform may dissolve. It is possible that, due to any number of reasons, including, but not limited to, an unfavorable fluctuation in the value of ETH, BTC or other cryptographic and Fiat, the failure of commercial relationships, or intellectual property ownership challenges, Company may no longer be viable to operate, or Company may dissolve;
  • Legal risks concerning the statutory regulation of securities. There is a risk that DAA and other can be equated to securities and activities using DAA may be considered as such, which require licensing. Such regulation also may result in Platform temporarily or permanent dissolve of the Company;
  • Risks related to the amount of daily bonuses. In some cases, due to the market volatility or other risks (including, but not limited to those, which are prescribed in these Terms) amount of daily bonuses may vary or even become negative for some period of time. Moreover, You shall restrain from making any claims towards us in cases, if the daily bonuses amount is lower than expected from Your side. It shall be noted, that, as it is mentioned before in these Terms, You shall restrain from using of any of our Services, if You do not agree with any of these Terms provisions;
  • Risk of theft. The User understands and accepts that there is some possibility, that the Platform may be exposed to attacks by hackers or other individuals that that could result in theft or loss of cryptocurrencies, impacting the Company;
  • Risks affiliated with Users’ credentials. Any third party that gains access to the User’s credentials affiliated with the Platform can control User’s cryptocurrencies, funds stored. To minimize this risk, the User should protect his or her electronic devices from unauthorized access.

RISKS RELATED TO THE VIRTUAL CURRENCIES AND THE BLOCKCHAIN.

  • Regulatory risk. The User understands and accepts that the blockchain technology allows new forms of interaction and that it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing blockchain technology based applications, wallets or exchanges which may be contrary to the current setup of the Company and which may, inter alia, result in substantial modifications of the Platform, Services, including its termination and the loss of cryptocurrencies;
  • The risk of depreciation. Users shall understand, that the prices of different cryptocurrencies are extremely volatile, which may lead to losses and price depreciation. Thus, prior to purchasing User has to understand and agree with this fact and be papered for possible losses;
  • The risk of mining attacks. Just as with other decentralized cryptocurrencies, the Bitcoin and other supported cryptocurrencies are susceptible to mining attacks, including double attacks, majoritarian power attacks, “selfish” mining and continuous attack cycle. Any successful attacks pose possible risk for DAAs, Your cryptocurrencies and etc. In spite of all the efforts of the Company, there is a risk of known or new threats to mining;
  • The risk of uninsured losses. Unlike bank accounts or account in some other financial institutions, virtual assets affiliated with the use of the Platform, DAAs are not insured;
  • The risk of malfunction of any blockchain network. It is possible that the BTC network or any other network used within the Platform can generate errors during operation, including errors that may lead to the loss of DAAs, or loss of information about any other cryptocurrency affiliated with the functioning of the Platform;
  • Risks affiliated with the Internet. The User acknowledges that there are risks affiliated with the usage of the Platform, including among other things, failures of the hardware, the software and/or Internet connections. Considering this fact, the Company bears no responsibility for any failures, errors, distortions or delays that can appear during the use of the Platform, regardless of their origins;
  • Unanticipated risks. Cryptocurrencies, blockchains are new and untested technologies. In addition to the risks set forth here, there are risks that Company cannot foresee and it is unreasonable to believe that such risks could have been foreseeable. Risks may further materialize as unanticipated;
  • Taxation risks. The tax characterization of cryptocurrencies is uncertain. Users must seek their own tax advice in connection with owning cryptocurrencies, which may result in adverse tax consequences, including withholding taxes, income taxes and tax reporting requirements. Each User should consult with and must rely upon the advice of its own professional tax advisors with competent expert on the question regarding taxation treatment of cryptocurrencies ownership.

FEES AND TAXES

The User is fully responsible for paying all fees and taxes that may be applied while using our Platform, Services according to the laws of the jurisdiction of User’s residence.

FINANCIAL OR LEGAL ADVICE

  • For the avoidance of doubt Company does not provide any financial, investment or legal advice in connection with the Services provided by us.
  • Any decision to buy or sell cryptocurrencies, make Contributions are the User’s decisions and Company cannot be held liable for any loss suffered. We may provide information on the price, range and volatility of cryptocurrencies as well as on the ratings of other User, education materials, but none of such information is an investment advice and each User bears its own risk in respect of any activities within Company, and Ciclex shall not be liable for any loss suffered.