This page was created by the Spectrum Change online cryptocurrency exchange service as an introduction to the rules and regulations of its use. Below will be a complete list of everything necessary to comply with the factors that must be observed by both parties to the contract. The company highly values the time of its customers, so the presentation of all points will be presented in the most understandable form to avoid misunderstandings and erroneous judgments.
1. Main points of the contract
This service provides services related to the exchange process for everyone. Before starting to use the functionality of the portal, each user must read in detail all the terms of this agreement. It will describe the positions on the basis of which the services of the service are provided. Obtaining full access will be opened only after the client approves the terms of the agreement. It is important to read each of the points as carefully as possible in order to avoid blocking or canceling planned operations.
2. Subject of the contract
The service provides a full range of services for its clients for the exchange of digital assets. These processes are carried out in accordance with all the directions described below. Clients use the functionality of the portal for their own purposes and pay for all transactions. Tariffs are specified in the terms of this agreement, are fixed, but can be changed by the service in the future.
3. What rights and obligations each of the parties to the agreement has
3.1 The service for the exchange of digital assets undertakes to provide customers with the following options:>
- carry out the procedure for the sale / exchange of funds using a number of partner payment systems, which are selected by the user at his request;
- provide clients with all kinds of support regarding transactions and work in their personal account, as well as inform about the occurrence of disputes (if this is technically possible);
- ensure the storage of personal data, as well as facts on all procedures for exchanging the client"s electronic currencies and provide the necessary information at the request of the user in a timely manner, except in situations where the work was implemented with confidential payment services.
This online service ensures the secrecy of all exchange procedures. The provision of data may be carried out by decision of the district court or upon receipt of a request from state control authorities. These organizations must be geographically located in the same country where the portal client operates.
3.2 The client of the online service undertakes to fulfill a number of conditions:
- he must indicate when drawing up the application only reliable details for the implementation of payment;
- when registering and as a contact for communication, the user undertakes to provide only a real active e-mail address;
- the actions of the client should not affect or in any way violate the current legislation of the country in which the person is located at the time of working with the portal and at the time of the implementation of exchange operations.
Compliance with all these rules is clearly monitored by the employees of the online service.
3.3 Representatives of the administration of the money exchange portal have the right to:
- temporarily suspend the activity of the service for scheduled or urgent technical work;
- temporarily close access to the exchange option of the portal in case of receiving an official request or decision from the state regulatory authority;
- the size of the commission can be set or changed in accordance with the policy of the service;
- the administration can refuse to provide services to any client of the portal in case of suspicion of his involvement in illegal actions;
- voice the requirement to users about the need to verify their identity in order to establish their involvement in the ongoing money exchange procedure;
- the dialogue with the user will be terminated or the correspondence will be terminated if there is rudeness or other violations of the rules of conduct on his part, as well as if the conversation is not related to work processes;
- implement blocking procedures for the exchange of digital assets in the event that violations of the clauses described in this agreement have been identified;
- stop transactions in the event that an appeal was made by regulatory state bodies, partner services, or there were complaints from the user himself that fraudulent actions were detected during its implementation (suspension of exchange procedures is temporary, the blocking period is valid until all circumstances);
- funds may be frozen or non-refundable until a full user identification procedure is carried out.
4. What services does the service provide
The portal for financial transactions provides the following services:
- organization of work with cryptocurrencies;
- making transfers or conversions through payment systems;
- ensuring the effective development of the banking sector.
5. Regulations for the implementation of the exchange of digital assets
5.1 If payment for the operation has not occurred within 20 minutes, and the application remains on the site, then the portal employees have the full right to delete the request. In case of receipt of funds from the user after this period, the portal may recalculate the data to implement the process for the exchange of digital assets. This will take into account the current exchange rate, which was noted at the time of receipt of funds from the client to the account of the service for the exchange.
5.2 It is impossible to carry out the procedure for canceling the e-currency exchange service if it is already activated. For the same reason, the process of returning the funds that the client planned to exchange in this operation is not carried out.
5.3 If the amount transferred to the account differs from that indicated for the operation, and its value shifts up or down, the portal has the right to suspend the process. He can also implement the recalculation and pay for the actual amount that was received from the user. In this case, the rate indicator will be taken into account at the time of the start of the currency exchange.
5.4 When the user implements the exchange procedure, during which he plans to receive cryptocurrency, he needs to take into account several factors. First of all, any kind of transactions implemented via the Internet can last from fifteen minutes to several days. The exchange service cannot be held responsible for the delay, since this problem does not depend on its functionality. In most cases, the deadlines are set by the platform that transfers the cryptocurrency or payment systems.
5.5 The online service processes applications from users within one or ten minutes from the receipt of payment for its implementation. The duration of this period depends on the total number of applications created, that is, on the workload of the portal.
5.6 In any case, when a refund is made, a commission of 5% is withheld, except for clause 7.6.
6. What are the responsibilities of both parties
6.1 The exchange portal does not refund lost funds if this happened as a result of erroneous actions of the client. Such situations include the introduction of an incorrect account for the transfer or the incorrect indication of other details. This transaction will have the status of completed, it will not be canceled, and the funds will not be returned.
6.2 The resource for carrying out exchange operations is not responsible for delays in making payments that were received due to incorrect operation of the applied payment system or bank. Since the service staff cannot influence the technical support of partners, customers can direct all questions about delays to their technical support.
6.3 When signing this agreement and using the portal to carry out exchange transactions, the client confirms that he is the owner of the funds he manages. This gives the company reason to believe that all transactions were realized from his personal assets.
6.4 The Client undertakes to clearly and fully comply with the rules described in this agreement. To do this, he must conduct a detailed study of all points to eliminate erroneous actions.
6.5 By signing the agreement, the client provides guarantees to the exchange service that at the time of conducting transactions with funds, he has reached the age of majority. This figure is calculated on the basis of the legislation of the country in which he is or was at the time of ordering the service.
6.6 Both parties are not liable for failure to comply with certain conditions of this agreement if they were violated as a result of events beyond their control. Such situations include various natural disasters, the introduction into the legislation of new government acts or rules of the regulatory authority in the territory where the client or company is located, the presence of war in the country, in the event of a fire, flood, domestic explosions or during terrorist acts. Additionally, the presence of riots, rallies, civil unrest or system failures due to hacker attacks can be added to this list. Also, the lack of functioning can be obtained as a result of a violation of the integrity of communications in the field of power supply or a cessation of traffic.
7. The process of verifying the client in the service
7.1 This regulation clearly states that users are required to undergo a verification procedure. This process can take place at the very beginning of working with the portal or at the first request of the service administration. The client does not have the right to refuse, as this will lead to the blocking of all processes and the account.
7.2 The procedure for conducting a personal identity verification process takes place exclusively on the terms of the portal, which provides exchange services. The client cannot refuse the procedure or the provision of the requested documents. Additionally, he cannot make changes to the regulations.
7.3 By signing this agreement, the client confirms that the portal can carry out all necessary checks, investigations and data collection independently or with the involvement of third parties or organizations in this process. Such actions may be required when implementing the user identification procedure, while ensuring the necessary level of protection for the client itself or the exchange portal processes. These actions are necessary to implement the exclusion of the passage of financial crimes or fraudulent schemes through it. KYC services or other types of systems that the company deems necessary to involve in the work can act as a third party. Clients cannot impose restrictions on the choice of tools or partners for cooperation, as well as interfere in every possible way with the actions of the portal.
7.4 All e-wallet addresses of users will be subject to verification using an automatic AML tool. Even if the user has several wallets and uses them to work on the exchange portal, then each of them will be studied.
7.5 The procedure for requesting the passage of identification for the client during the operation of the exchange resource can be activated if, during the verification, the e-wallet address was caught in connection with a number of companies:
- Darknet Marketplace;
- Darknet Service;
- Fraudulent Exchange;
- Illegal Service;
- mixing service;
- Stolen Coins.
7.6 In the event that the verification reveals the presence of a direct connection, the exchange process will be frozen. After the verification procedure is completed and upon its positive completion, the funds will be returned to the sender"s details (minus a 10% commission).
8. Making changes
The administration of the portal for carrying out exchange operations can implement the procedure for making additions or changes to this agreement. They may relate to billing, commission percentage or conditions for working with the service. Such changes may be necessary, as the country in which the company operates may amend the legal framework. In addition to this, these actions will help improve the procedure for providing services, ensure high-quality and fast operation of the portal, and increase the level of security of the data provided.
9. What is needed for the user identification procedure
9.1 The client must always be ready to undergo personal identification at the first request of the administration of the portal providing services. At the same time, service employees can request the provision of any customer data at their discretion. Among the necessary factual information, the following options can be distinguished:
- indicate the full name, surname and patronymic in accordance with the passport data;
- provide information about citizenship in one or more countries;
- ensure the transfer of detailed passport data indicating the series, place number and date of issue of the document, validity period, etc.;
- providing information about the date and place of birth of the client of the service;
- information about the place where the user is officially registered, and in case of a discrepancy between the registration and residence data, the actual location address should be indicated;
- indicate all available information to ensure communication between the client and the administration of the service, which includes the user"s postal address, active personal phone number, e-mail address, login in the messenger or social network, as well as any other contact information;
- the user may be asked to send a photo of an internal passport, ID-card, driver"s license or foreign passport;
- in order to make sure that these documents belong to a specific person, he may be asked to send his own photo with an open document for verification;
- if a document was used as an identity card, in which there is no data on the registration of the client, then as confirmation of the registration address, he can send photos of utility bills, where the home address will be indicated.
The administration may additionally request other personal data in various formats in order to carry out the verification procedure. All information may be required in various volumes. Such actions are necessary for a complete check.
9.2 The data and contacts provided will be used to identify the identity of the client and confirm its authenticity. Additionally, on the basis of the collected package, a check is carried out for the presence of involvement in the money laundering procedure, the provision of material support for terrorist organizations, the implementation of fraudulent schemes and other types of financial crimes of varying severity.
9.4 The client, by signing this agreement, consents to the implementation of the process of keeping records of all the data provided to create the user"s personal package. The collected information can be actively used by the company throughout the life of the account. Even after its removal or closure, the package of documents will be stored in the portal database for five years. These conditions are identical to accepted international standards.
9.5 All checks can be carried out by the employees of the company itself or by involving third parties for this work. Such actions are necessary when identifying the presence of a criminal record, proven participation in fraudulent activities, or the presence of suspicions of involvement in illegal actions by regulatory authorities.
9.6 After the client has passed the verification procedure, he undertakes to independently monitor the relevance of the information provided. Thus, if in the future his personal data is changed, he must provide new information by contacting the portal administration. There they will make adjustments and make changes to the database. Additionally, the client can do this on their own using a personal account.
9.7 If the administration convicts the user that the information about him is outdated, then operations will be blocked in relation to him until the identification procedure is repeated.
9.8 In case of problems with providing communication between the client and the administrations under the contracts that were indicated to them during the verification, operations and the account may be blocked. At the same time, the company is not responsible for the loss of funds or other losses incurred by the client during the additional verification. By signing this agreement, the client confirms that he alone is responsible for providing and maintaining the relevance of personal information.
9.9 By going through the verification procedure, the client confirms his consent to the fact that the company can conduct any checks and studies in relation to him. Additionally, the portal may involve third parties or companies to assist in identity verification. To carry out this activity, the administration may transfer part of the data to the partner side.