Welcome to BitMerchants’ Exchange Terms. These terms govern your use of our cryptocurrency exchange services. By accessing or using these services, you agree to these terms. Please read them carefully.
1. Eligibility To use BitMerchants’ exchange services, you must:
- Be at least 18 years old.
- Have a verified BitMerchants account.
- Comply with our Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures.
2. Exchange Services BitMerchants offers a platform for the exchange of various cryptocurrencies. Our services include:
- Instant Swaps: Exchange one cryptocurrency for another quickly and efficiently.
- Market Orders: Place orders to buy or sell cryptocurrencies at the current market price.
- Limit Orders: Set specific prices at which you wish to buy or sell cryptocurrencies.
3. Supported Cryptocurrencies
- BitMerchants supports a wide range of cryptocurrencies. The list of supported cryptocurrencies is available on our website and may be updated periodically.
4. Trading Pairs
- You can trade various cryptocurrency pairs on BitMerchants. The available trading pairs are listed on our platform and may change based on market conditions and user demand.
5. Fees
- Trading Fees: BitMerchants charges a fee for each trade executed on the platform. The fee structure is transparent and can be viewed on our fees page. Fees may vary depending on the trading pair and the volume of the trade.
- Withdrawal Fees: When withdrawing cryptocurrencies from your BitMerchants account, a fee may be applied. This fee covers the cost of processing the transaction on the blockchain.
6. Order Execution
- Instant Swaps: Instant swaps are executed at the best available market price at the time of the transaction.
- Market Orders: Market orders are executed immediately at the current market price.
- Limit Orders: Limit orders are executed when the market price reaches the specified limit price set by you. If the limit price is not reached, the order will remain open until it is either executed or canceled by you.
7. Price Volatility
- The prices of cryptocurrencies can be highly volatile. BitMerchants is not responsible for any losses incurred due to market fluctuations. You are advised to carefully consider your risk tolerance before engaging in trading activities.
8. Security Measures
- BitMerchants employs industry-standard security measures to protect your assets and personal information. These measures include encryption, multi-factor authentication, and insured custodial services.
- Risk Disclosure: Despite our security measures, trading cryptocurrencies involves risk. You acknowledge that you understand and accept these risks before using our exchange services.
9. Compliance and Prohibited Activities
- You agree to use BitMerchants’ exchange services in compliance with all applicable laws and regulations. Prohibited activities include, but are not limited to, money laundering, financing of terrorism, and market manipulation.
- BitMerchants reserves the right to suspend or terminate your account if you are found to be engaged in any prohibited activities.
10. Account Verification
- To access the exchange services, you must complete the KYC verification process. This process involves providing identification documents and other information as required by BitMerchants to verify your identity.
11. Account Security
- You are responsible for maintaining the security of your account credentials. BitMerchants will not be liable for any loss or damage arising from unauthorized access to your account due to your failure to secure your login information.
12. Dispute Resolution
- In the event of a dispute related to the exchange services, you agree to first contact BitMerchants customer support to seek a resolution. If the dispute cannot be resolved through customer support, it may be escalated to arbitration or other legal processes as specified by applicable law.
13. Amendments
- BitMerchants reserves the right to amend these Exchange Terms at any time. Any changes will be communicated to you, and your continued use of the exchange services constitutes acceptance of the amended terms.
14. Termination of Service
- BitMerchants reserves the right to terminate or suspend your access to the exchange services at its sole discretion, without prior notice, for any reason, including but not limited to violation of these terms or illegal activities.
15. Contact Information
By using BitMerchants’ exchange services, you acknowledge that you have read, understood, and agreed to these Exchange Terms.
