These LocalTrader Terms of Use ("Terms") govern your use of the services provided by LocalTrader in relation to the Digital Currency Exchange Platform ("Platform"). By accessing, downloading, using or clicking on “I agree” to accept any LocalTrader Services (as defined below) provided by LocalTrader (as defined below), you agree that you have read, understood, and accepted all of the terms and conditions stipulated in these Terms as well as our Privacy Policy. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions applicable to those features.
Please read the terms carefully as they govern your use of LocalTrader Services. These terms contain important provisions including an arbitration provision that requires all claims to be resolved by way of legally binding arbitration. The terms of the arbitration provision are set forth in Clause 15, “Dispute Resolution”. As with any asset, the values of Digital Currencies may fluctuate significantly and there is a substantial risk of economic losses when purchasing, selling, holding or investing in Digital Currencies and their derivatives. By making use of LocalTrader Services, you acknowledge and agree that: (a) you are aware of the risks associated with transactions of digital currencies and their derivatives; (b) you shall assume all risks related to the use of LocalTrader Services and transactions of digital currencies and their derivatives; and (c) LocalTrader shall not be liable for any such risks or adverse outcomes. By accessing, using or attempting to use LocalTrader Services in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access LocalTrader or utilize LocalTrader Services.
Digital Assets: Digital Currencies, their derivatives, or other types of digitalized assets with a certain value.
Digital Currencies: Encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form.
KYC: Know-your-customer process that LocalTrader has put in place before entering a business relationship or conducting transactions with its Users. As part of this process, LocalTrader may do anything that it deems necessary to identify Users, verify their identity, scrutinize and investigate User transactions, or comply with any applicable law or regulation.
Users: All individuals, institutions, or organizations that access, download, or use LocalTrader or LocalTrader Services and who meet the criteria and conditions stipulated by LocalTrader.
LocalTrader: An ecosystem comprising of LocalTrader websites, mobile applications, clients, applets, and other applications that are developed to offer LocalTrader Services, and includes independently operated platforms, websites, and clients within the ecosystem.
LocalTrader Accounts: The foundational virtual accounts, including main accounts and subaccounts, which are opened by LocalTrader for Users to record on LocalTrader their usage of LocalTrader Services, transactions, asset changes, and basic information. LocalTrader Accounts serve as the basis for Users to enjoy and exercise their rights on LocalTrader.
LocalTrader Operators: All parties that run LocalTrader including but not limited to legal persons, unincorporated organizations, and teams that provide LocalTrader Services and are responsible for such services.
LocalTrader Services: Various services provided to you by LocalTrader that are based on Internet and/or blockchain technologies and offered via LocalTrader websites, mobile applications, clients, and other forms (including new ones enabled by future technological development).
LocalTrader Platform Rules: All rules, interpretations, announcements, statements, letters of consent, and other contents that have been and will be subsequently released by LocalTrader, as well as all regulations, implementation rules, product process descriptions, and announcements published in the Help Center or within products or service processes.
2.1. By using the Platform, you acknowledge that you have read, understood, and agree to be bound by these Terms, as well as any additional terms and conditions that may apply. If you do not agree with these Terms, you must not use the Platform.
3.1. To access certain features of the Platform, you are required to create an account. You must provide accurate and complete information during the registration process and promptly update any changes. You are responsible for maintaining the security and confidentiality of your account and password.
3.2. You are solely responsible for all activities that occur under your account. You agree not to use the Platform for any illegal, fraudulent, or unauthorized purposes. You must comply with all applicable laws and regulations while using the Platform.
3.3. The LocalTrader Account can only be used by the account registrant. LocalTrader reserves the right to suspend, freeze, or cancel the use of LocalTrader Accounts by persons other than the account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify LocalTrader immediately. LocalTrader assumes no liability for any loss or damage arising from the use of the LocalTrader Account by you or any third party with or without your authorization.
3.4. By registering to use a LocalTrader Account, you represent and warrant that:
3.5. Your registration of an account with LocalTrader will be deemed your agreement to provide required personal information for identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud, and other financial crimes through LocalTrader, or for other lawful purposes stated by LocalTrader. We will collect, use, and share such information in accordance with our Privacy Policy.
3.6. Users must complete the verification process with their true identity, for which the information provided by the Users must be authentic, complete, and up-to-date. If there are any grounds for belief that the information provided by the Users is incorrect, false, outdated, or incomplete, LocalTrader reserves the right to send you a notice to demand correction, directly delete the relevant information, and, as the case may be, terminate all or part of LocalTrader Services we provide for you. If we are unable to reach you with the contact information you provided, you shall be fully liable for any loss or expense caused to LocalTrader during your use of LocalTrader Services. You hereby acknowledge and agree that you have the obligation to update all the information if there is any change.
