Terms Of Service

Last modified on 27 April 2018 (Version 1.0)

Dear Visitor,
Welcome to Tokens.net and thank you for choosing our service.

It is in our greatest interest to provide you trustworthy, transparent, safe, and reliable place to exchange ERC20 tokens and other cryptocurrencies, but in order to constitute a business relationship you have to abide terms, policies and schedules made thereof.

Please read carefully the following Terms of Service (hereinafter: “Terms”) of the Tokens.net platform (hereinafter: “Platform”) which is operated by Token Holdings Group (hereinafter: “Operator” or “Token Holdings Group”), that is managed by Token Holdings Limited, 3rd Floor 207 Regent Street, London, United Kingdom, W1B 3HH, incorporated under the laws of England and Wales, company number 10997414.
If you do not agree with Terms or you find yourself excluded by any condition or requirement provided herein we ask you not to register and not to use the Platform and deem any information, links or content contained on, provided or sent by the Platform and/or the Operator immaterial and unrelated.
By registering and using the Platform you automatically give your consent to the Terms, Privacy Policy, Security Policy, Transaction Recovery and Schedule, individually and in full, all being an integral part of Terms.
Terms prevail above any subordinated documents, if not exclusively defined otherwise.
Your acceptance of the Terms constitutes an agreement (hereinafter: “Agreement”) to abide by each of the terms and conditions set out in Terms, as provided below, and has the legal effect as a legal contract between you and the Operator.
You shall be bound by Terms from the time you register and throughout your use of the Platform and/or each time you login into the Platform.
1. Introductory Provisions
1.1. Unless otherwise expressly provided, any service where you engage in digital asset trading activities, including but not limited to the digital asset transactions, provided by the Operator (hereinafter “Service”) shall be governed by Terms.
1.2. Upon your logging into the Platform or using any Services offered by the Platform or engaging in any other similar activity, it shall be deemed as you have understood and fully agreed to all terms and conditions of these Terms, including any and all changes, modifications or alterations made in accordance with section 7.10. (Validity and Change).
1.3. You understand that this Platform is only intended to serve as a venue of transactions for you to obtain digital asset information, find trading counterparties, hold negotiations on and effect transactions of digital assets. Neither the Platform nor the Operator, if not mentioned specifically, do not participate in any of your transactions, and you shall carefully assess the authenticity, legality and validity of relevant digital assets and/or information, and solely bear the responsibilities and losses that may arise therefrom.
1.4. We will take reasonable measures to ensure the accuracy of the information on the Platform; however, we do not guarantee the degree of such accuracy, or bear any loss arising directly or indirectly from the information on the Platform or from any delay or failure caused by failure to link up with the internet, transmit or receive any notice or information.
1.5. All opinions, information, discussions, analyses, prices, advice and other information on this Platform are general market reviews and do not constitute any investment advice. We do not bear any loss arising directly or indirectly from reliance on the abovementioned information, including but not limited to any loss of profits.
1.6. Depending on your country of residence, you may not be able to use the Platform at all or be limited in the use of its functions and functionalities. It is your responsibility to follow the legislation and other binding rules in your country of residence and/or country from which you access this Platform and use Operator’s services, as the legality of your usage does not lay with the Operator but with you to fully comply with the applicable laws. Should the need arise, the Operator may, in order to ensure compliance with applicable laws, refrain usage of the Platform for certain nationals or tax residents.
1.7. The content of this Platform may be changed from time to time, and at any time, without prior notice. Such changes do not constitute Terms change.
1.8. Neither amendment, changes, modifications or other sorts of changes to fee schedules nor policies constitute Terms change.
1.9. We will not provide any replies to messages outside the support if we do not find them relevant, notwithstanding about specific inquiry, or email provided in general. This may not constitute no action has been taken, therefore, please, do not re-send or escalate.
1.10. All headings herein are exclusively for the convenience of wording and are not intended to expand or limit the content or scope of Terms.
1.11. For the purpose of Terms, the following definitions apply:
1.11.1. Anti-Money Laundering means a set of internal and legal controls and checks that are broadly implemented, especially but not limited to the financial industry and other regulated entities, to prevent, detect, and report suspicious behaviour and potential money laundering activities to supervising bodies (hereinafter: “AML”);
1.11.2. Application Programming Interface means a set of subroutine definitions, protocols and tools for building application software (hereinafter “API”);
1.11.3. Base Currency represents how much of the Counter Currency is needed for you to get one unit of the Base Currency. Currencies constituting a currency pair (i.e. Base and Counter Currency) may be separated with a slash character, period, dash or nothing, subject to Platform’s sole discretion;
1.11.4. Country of Residence means the place of your home or dwelling;
1.11.5. Cryptocurrency means a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions;
1.11.6. Discontinuing Action means an action by the Operator, at its own discretion, to temporary or permanently cancel or restrict opening or access to account or freeze or suspend account, if, included but not limited to someone who perpetrates to register or have registered fails to abide the applicable laws, has engaged or might have engaged with actions, illegal activities or wrongdoings, targeted primarily against the Platform or third parties, or dismisses, disavows or fails to comply with Terms at any time. In any case, the Operator is by such action released from any legal or financial responsibilities or claims to any party against which such Discontinuing Action has been called upon, included but not limited to losses of profit, goodwill, reputation, usage or data or any other intangible losses;
1.11.7. Fair Usage Policy: Services offered by the Platform are costly and to keep as much services free of charge to the users the Operator may set a threshold above which such services become payable;
1.11.8. False Transaction means accidental, erroneous, incorrect or unintentional orders or instructions getting placed or being executed, such as inputs outside typical market parameters, opposite trade direction, sizable or wrong crypto asset chosen, wrong destination address withdrawal;
1.11.9. EU Directive 2015/849 means the Directive of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (hereinafter: “MLD4”);
1.11.10. Money laundering has the meaning as defined in Article 1 (3) and (4) of MLD4 (hereinafter: “Money Laundering”);
1.11.11. Terrorist financing has the meaning as defined in Article 1 (3) and (4) of MLD4 (hereinafter: “Terrorist Financing”);
1.11.12. Know Your Customer means a process of identifying and verifying true identity of the client, User or business partner (hereinafter: “KYC”);
1.11.13. Persons known to be close associates has the meaning as defined in Article 3 (11) of MLD4 (hereinafter: “PKCA”);
1.11.14. Politically exposed person has the meaning as defined in Article 3 (9) of MLD4 (hereinafter: “PEP”);
1.11.15. General Data Protection Regulation means the Regulation (EU) 2016/679 of the European Parliament and of the Council, dated April 26, 2018, on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (hereinafter: “GDPR”);
1.11.16. GDPR Controller and GDPR Processor have the meaning as defined in Article 4 (7) and (8) of GDPR, respectively;
1.11.17. Personal data has the meaning as defined in Article 4 (1) of GDPR;
1.11.18. Supervisory Authority has the meaning as defined in Article 4 (21) of GDPR;
1.11.19. Official Language for the purpose of operating this Platform and for the purpose of communication has the meaning as defined in the section Schedule. The Operator may always request you to provide data, documentation or communication in the Official Language. If you do not possess such documentation, a certified translation must be provided. Notwithstanding before, accepting data, documentation or communication in a language different to Official Language is at Operator’s sole discretion and the Operator is not obliged to provide any explanation or reasons whereas to permit or reject acceptance of anything in a language different to Official Language, whatsoever;
1.11.20. Tokens are genuine representations and can represent basically any asset that is fungible and tradeable, from commodities to loyalty points to other cryptocurrencies;
1.11.21. Transaction Fees means all fees which are collected by the Platform on any transaction you may commence, initiate, execute, propose or request, included but not limited to Deposits, Withdrawals, Trades or other transactions made possible on the Platform (hereinafter: “Transaction Fees”);
1.11.22. Two-factor Authentication or 2FA means a second layer of security where you, additionally to your username and password, which is something that you know, enter a random number generated by an algorithm provided via SMS, voice call or through application installed on your mobile device, which is something what you receive (hereinafter “2FA”);
1.11.23. User means a natural person, as stipulated by Terms, who has concluded registration process with validating his email.
2. Services
2.1. General
2.1.1. The Platform provides Services as stipulated in section 1.3 (Introductory Provisions). To use Services you have to register, abide Terms and generally applicable legislation.
2.1.2. This Platform does not provide any services related to acceptance, handling, manipulation, replenishment or withdrawal of the legal currency of any country, nor it issues electronic money in connection to such legal currencies.
2.1.3. The Platform does not participate in the transaction of digital assets between the buyer and the seller. Notwithstanding before, the Platform collects fees from trades and Services and, from time to time, acts as seller of collected fees and acts as a buyer of Dynamic Trading Rights (DTR) tokens, which are to be sent to the black hole address and cryptographically destroyed. The Operator may authorize a third party to act on the market on its behalf for the purpose of fee collection and/or purchase and/or token redemption.
2.1.4. Whenever you browse to place an order with the Platform, irrespective of buy or sale order, you shall read all the content in the transaction information, including but not limited to the price, consignment, handling fee, buying or selling direction, and you shall accept all the contents contained in the transaction information before you may click on the button to proceed with the transaction, and it shall be deemed that you authorize the Platform to broker your interest and publicly display it on the Platform or match it against the interests of others, potentially executing a transaction between you and the parties provided opposite interest.
2.1.5. The Operator reserves the right to modify, suspend or terminate the Services offered, at any time, and may do so without prior notice to you. If it terminates one or more of the Services offered, such termination will take effect at the time of announcement.
2.1.6. The Operator shall take necessary technical means and management measures to ensure the normal operation of this Platform, and shall provide a necessary and reliable trading environment and transaction services, and shall maintain the order of digital assets trading.
2.2. Support
2.2.1. Support is available and offered to Users only.
3. Registration and Login
3.1. Eligibility to Register
3.1.1. Only natural persons may register to use the Platform.
3.1.2. You confirm that you are an individual of 16 years or above, but of statutory age for entering into contracts as it is required by applicable laws, nationality, country of residence or tax residency, what greatest, provided you assume legal control over yourself, your actions and decisions, are fully responsible for all activities you do and you act with capacity to abide by the laws (hereinafter: “Capacity to Act”).
3.1.3. Limitation to register lies with the Restriction to Use as defined in the Schedule and may be enforced by the Operator to prevent abuse to the limitations reasonably possible.
3.1.4. If you do not have Capacity to Act or fall within Restrictions to Use at the time of registration or at any time later, you are not allowed to continue with registration or, if being registered, access account or use the Platform, regardless of the reasons. Shall you fail to comply, the Operator is free to announce Discontinuing Action against you.
3.2. Registration
3.2.1. One email address may only be associated with one account on the Platform at a time.
3.2.2. For registering and opening an account you have to provide your email address and acknowledge to have read, understood and accepted the Terms which you will abide throughout time of using the Platform.
3.2.3. Validation email request will be sent to the provided email address. Once confirmed, the account becomes activated and you become a User.
3.2.4. Once you have filled in the information, confirmed to have read, understood and accepted the Terms and confirmed the validation email you shall be deemed to have concluded the Agreement. From this point onwards you must, at all times, use the services of the Platform in accordance with the Terms. Any breach or violation may result in announcement of Discontinuing Action against you.
3.3. Accounts
3.3.1. Every User receives a main account upon registration.
3.3.2. Accounts and Services provided may only be used by you. Shall you fail to comply, waive credentials or provide access to any third parties, irrespective of their nature or reasons to access, the Operator is free to announce Discontinuing Action against you.
3.4. Login
3.4.1. You have to use credentials for login.
3.4.2. You may be required to use password of certain strength and change it periodically.
3.4.3. To increase your security the Platform offers 2FA to login and you are welcome to use it, however, the Platform may enforce its use.
3.4.4. By logging in or accessing the Platform you confirm to have Capacity to Act, abide by Restriction to Use and consent with Terms.
4. Trading, Fees, Deposits, Withdrawals
4.1. Trading on the Platform
4.1.1. You may only trade with crypto assets that you have in your account.
4.1.2. False Transaction is subject to Transaction Recovery.
4.1.3. Fees for the buyer are payable in the Base Currency, whereas for the seller in the Counter Currency.
4.2. Managing Deposits and Withdrawals
4.2.1. Deposits and withdrawals are subject to Transaction Fees as provided in the Schedule.
5. AML and KYC Policy
5.1. We are imposing AML and KYC standards to increase integrity of this Platform.
5.2. The Operator is enforcing KYC process to comply with AML laws, specifically to combat exchange, transfer or use of funds originating from criminal or fraudulent activity, identity theft, tax evasion or money laundering, and to prevent their further use in criminal or terrorist activities and financing.
6. Risks
6.1. Trading with cryptocurrency is highly risky. Always use your clear judgement.
6.2. You have to be willing to accept high risks and ascertain your personal financial position may not be jeopardized by you buying, selling, trading, transacting or manipulating cryptocurrencies and tokens.
6.3. Prices can and do fluctuate over time. Such price fluctuations may increase or decrease the value of your assets at any given moment and substantially, which may be stressful or generally not suitable for the vast majority of people. There is an inherent risk that losses will occur as a result of buying, selling or trading and that you may generate losses and that certain cryptocurrencies or tokens even become worthless.
6.4. If you have any doubt you are advised to seek assistance from a financial adviser prior to using the Platform, registering, buying, selling, trading and transacting.
6.5. Unlike most currencies, which are backed by governments or other legal entities, or commodities, being in physical nature, such as oil, gold or silver, cryptocurrencies are of a unique type, backed solely by technology and trust. There is no central bank that can issue more currency or take corrective measures to protect the value of cryptocurrencies in a crisis. Instead, cryptocurrencies are as yet autonomous and largely unregulated global system of currency firms and individuals. Traders put their trust in a digital, decentralised and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
6.6. Cryptocurrencies and tokens often experience unexpected price changes, followed by the general sentiment of the community, drop of confidence imposed by governmental statements or actions, including crackdown of illegal activities, legislative changes, technical issues on the network, statements from the general public, high profile individuals or institutions, creation of competitive and/or alternative currencies. Such actions may lead to either substantial drop of demand or supply which may result in significant price changes, significantly changing the value of assets.
6.7. There may be other risks currently not foreseen by the Operator that may reflect in the future price change and market development, thus you should be alert at all times to promptly adjust your individual risk profile to such changes.
7. Legal
7.1. Effectiveness of the Agreement
7.1.1. The Agreement between you and the Operator shall enter into force when you click through the registration page of the Platform, where you acknowledge, understand and give consent to Terms, and you verify provided registration email, and it shall be binding throughout your use of Services and Platform.
7.2. Limitation and Exclusion of Liability
7.2.1. The Operator cannot control the quality, security or legality of digital assets involved in any transaction, truthfulness or accuracy of the transaction information, or capacity of the parties of any transaction to perform their obligations under the transaction documents.
7.2.2. You shall cautiously make judgment on your own on the truthfulness, legality and effectiveness of the digital assets and information in question, and solely undertake any liabilities and losses that may be caused thereby.
7.2.3. Unless expressly required by applicable laws the Operator shall not have any duty to conduct preliminary review on information data, transaction activity and any other transaction related issues of any users.
7.2.4. Time to deposit and withdraw depends on network congestion and committed fees by transmitters and may, in certain situations, be lengthy, and the Operator shall not, in any case, be liable nor responsible for any delays or losses incurred by transaction times, that may arise from funds being received or withdrawn, including but not limited to your or Operator’s decisions, commitments or settings for deposit or withdrawal rails.
7.2.5. The Operator does not have any responsibility nor obligation to process deposits or withdrawals or any other transactions within any specified time interval, nor liability from any delays or losses incurred by such right that may arise from funds not being executed, transfered or processed during the period of such deferral.
7.2.6. We do not make any explicit or implicit warranties regarding your use of the Services offered by the Platform, including but not limited to the applicability, freedom from error or omission, consistency, accuracy, reliability, and applicability to a specific purpose of the Services. Furthermore, we do not make any commitment or guarantee in connection with the validity, accuracy, correctness, reliability, quality, stability, integrity and timeliness of the technology and information covered by the Services offered by this Platform. Whether to log in this Platform or use the Services is your personal decision and therefore you shall bear all the risks and possible losses, costs, etc., arising from such decision.
7.2.7. The Operator disclaims any express or implied warranty with regards to the Services, including but not limited to applicability, freedom from error or omission, continuity, accuracy, reliability or fitness for a particular purpose, and disclaims any promise or warranty with regards to the effectiveness, accuracy, correctness, reliability, quality, stability, completeness and timeliness of the technology and information involved by Services or the Platform.
7.2.8. You are fully aware that some information on the Platform that are published or provided by Users on their own may contain risks or defects. The Operator specifically excludes its liability in regard to such information.
7.2.9. We do not make any explicit or implicit warranties in connection with the market, value and price of digital assets. You understand and acknowledge that the digital asset market is unstable, that the price and value of assets may fluctuate or collapse at any time, and that the transaction of digital assets is based on your personal free will and decision and therefore you shall assume any and all risks and losses that may possibly arise therefrom.
7.2.10. We do not make any explicit or implicit warranties in connection with software, hardware or internet, their availability and reliability and we specifically exclude any liability in regard to any distortion, delay and link failure.
7.2.11. We cannot be held liable for any failure or delay of Services resulted from regular equipment maintenance of the information network, connection error of information network, error of computers, communication or other systems, power failure, strike, labor disputes, riots, revolutions, chaos, insufficiency of production or materials, fire, flood, tornado, blast, war, governmental acts or judicial orders, other acts that are not within our control or beyond our inability to control, or due to causes on the part of third parties. We shall not assume any responsibility for such failure to provide Services or delay in providing Services, or for the resultant loss you may sustain as a result of such failure or delay.
7.2.12. You agree to indemnify and hold harmless the Operator, its contractors, its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorneys’ fees and court fees, arising out of your use of the Platform and Services, including but not limited your violation of the Terms and the Agreement.
7.2.13. Under any circumstance, our liability for your damage will not exceed the total cost incurred by your three (3) months’ use of Services offered by this Platform.
7.2.14. The Operator provides Services at an “as is” and “commercially available” condition.
7.3. Prohibition
7.3.1. It is prohibited to use this Platform and Services for any illegal activities, such as money-laundering, smuggling, commercial bribery etc. Upon uncovering any of such illegal activities, the Operator will adopt all available measures, including but not limited to initiating Discontinuing Actions, notifying the relevant authorities and so on, and the Operator shall not be liable nor responsible for any consequences or liabilities towards you and your funds arising from such actions by you.
7.3.2. If it is later revealed you should not be permitted to use the Platform or you are in any breach of Terms or in violation of the applicable laws, the Operator may, at its own discretion, temporary or permanently suspend you from accessing and/or using your account until the issue is cured or may terminate your account irreversibly through triggering Discontinuing Action against you what means losing your funds permanently.
7.3.3. During any transaction with other members you will act in good faith, will not take any acts of unfair competition, will not disturb the normal order of online transactions, and will not engage in any acts unrelated to online transactions.
7.3.4. You shall not use any data provided by the Platform or the Operator within Services for commercial purposes, including but not limited to using any data displayed on the Platform through copy, dissemination or any other means without prior written consent from the Operator.
7.4. Intellectual Property
7.4.1. All intellectual achievements included in this Platform, including, but not limited to, website logos, databases, website design, text and graphics, software, photos, videos, music, sounds and the intellectual property rights of software compilation, associated source code and software (including small applications and scripts) and any combinations of the aforementioned are the sole property of the Operator and are protected by copyright, trademark and other intellectual property rights arising from applicable laws. You may view, print and/or download a copy of the materials from the Platform on any single computer solely for your personal, informational and/or non-commercial use, provided you comply with all copyright and other proprietary notices.
7.4.2. The trademarks, service marks and logos of the Operator and other providers and/or vendors used on the Platform ("Trademarks") are the sole property of the Operator or their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Platform belong to the Operator. The Trademarks and any materials provided should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated.
7.4.3. The use of any such materials on any other website or networked computer environment for any other purpose is strictly prohibited. Any such unauthorised use may violate copyright, trademark and other intellectual property rights arising from applicable laws and could result in criminal and/or civil penalties.
7.5. Governing Law and Jurisdiction
7.5.1. These Terms and the Agreement concluded on the basis of Terms shall be governed by, construed and enforced in accordance with the laws of England and Wales.
7.5.2. Any claims or actions arising out of or relating to the Services shall be governed and interpreted and enforced in accordance with the laws of England and Wales.
7.5.3. You unconditionally and expressly agree to the exclusive jurisdiction of the courts of England and Wales in all claims or actions against or involving the Operator arising from or relating to Services or these Terms. The Doctrine of Forum Non Conveniens does not apply.
7.5.4. If any dispute arises between you and any other User in connection with the online transaction provided by this Platform, you may not resort to any means other than judicial or governmental means to request the Operator to provide relevant information.
7.6. Transfer of Rights
7.6.1. The Operator shall be entitled to assign all or a part of its rights and obligations under these Terms to a third party and you acknowledge and waive any right or request to provide consent at any time, either before or after such assignment.
7.7. Severability
7.7.1. If any provision of these Terms or the Agreement is found unenforceable, invalid or illegal by any court of the governing law, validity of the remaining provisions of these Terms shall not be affected.
7.8. No Agency
7.8.1. Nothing in these Terms nor the Agreement concluded in accordance with the provisions of Terms shall be deemed to have created, implied or otherwise treated us as your agent, trustee or other representative, unless specifically provided otherwise.
7.9. Termination of Services
7.9.1. You hereby agree that the Operator shall have the right to terminate all or part of Services to you, temporarily or permanently freeze (cancel) the authorizations of your account on the Platform at Operator’s sole discretion, at any time and without any prior notice, for whatsoever reason, and the Operator shall not be liable nor responsible to you; however, the Operator shall have the right to keep and use the transaction data, records and other information related to such account.
7.9.2. In case of any of the following events, the Operator shall have the right to directly terminate the Services by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on the Platform and withdraw the corresponding account thereof:
7.9.2.1. after the Operator terminates Services to you, you allegedly register or register in any other person’s name;
7.9.2.2. any of the content of User’s information that you have provided is untruthful, inaccurate, outdated or incomplete and you fail to amend or change timely unilaterally, or at request;
7.9.2.3. when Terms are amended and you expressly state and/or notify the Operator of your unwillingness to accept the amended version of the Terms;
7.9.2.4. any other circumstances where the Operator deems it appropriate to terminate the Services.
7.9.3. After the account is terminated or the authorizations of your account on the Platform are permanently frozen (cancelled), the Operator shall not have any duty to keep, disclose or provide you or any third party any information from your account, unless to comply with the rules of GDPR or MLD4.
7.9.4. If the Operator terminates your account or permanently freezes (cancels) the account authorizations it shall be deemed that the Agreement concluded in accordance with these Terms is terminated. However, you expressly agree that, after the termination of the Agreement between you and the Operator, the Operator shall, in order to abide by the applicable laws, still have the right to keep your Personal Data and other relevant transaction information provided or gathered during your use of Services.
7.10. Validity and Change
7.10.1. Date of the latest version of these Terms is printed on the top of this document.
7.10.2. The Operator may amend the Terms autonomously, from time to time, as case may be, without prior individual notice to you.
7.10.3. Any amendments to the Terms shall come into force immediately and automatically upon being announced on the Platform’s website. The precise method of announcement is left to the Operator’s sole discretion.
7.10.4. If you, after the announcement of amendments to the Terms, continue to use the Platform and services provided by the Operator, you shall be deemed as having accepted the amendments.
7.10.5. If you disagree to such amendments, you shall immediately stop using the Platform and services provided by the Operator. Notwithstanding before, the Operator may provide you with a reasonable grace period to cure or fulfil requirements or provide substance or autonomously withdraw from using the Platform and Services, subject to Operator’s discretion and as case may be.