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Terms of service

WE ADVISE YOU TO READ THE FOLLOWING TERMS OF SERVICE (HEREINAFTER: »TERMS«) BEFORE CREATING AN ACCOUNT AND/OR USING AXNET OŰ (HEREINAFTER: AXNET) SERVICES. BY ENTERING ONTO THE WEBSITE, CREATING AN ACCOUNT AND USING OUR SERVICES YOU ACKNOWLEDGE AND AGREE TO THESE TERMS OF SERVICE. IN CASE YOU DO NOT AGREE TO THESE TERMS OF SERVICE, DO NOT ACCESS THIS WEBSITE AND DO NOT USE OUR SERVICES.

*SPECIAL NOTE: SERVICES OF AXNET ARE INTENDED AND ARE TO BE USED SOLELY BY THE CUSTOMERS / USERS, NATURAL OR LEGAL PERSONS, WHO ARE RESIDENTS, ARE INCORPORATED OR HAVE ITS REAL SEAT IN THE COUNTRY WHERE TRADING VIRTUAL ASSETS IS LEGAL AND NOT PROHIBITED OR RESTRICTED. ONLY SUCH USERS ARE ALLOWED TO MAKE USER ACCOUNT AND BUY, SELL, HOLD, WITHDRAW, TRANSFER, OR OTHERWISE TRADE AT AXNET EXCHANGE AT THIS TIME. YOU CAN FIND MORE ABOUT RESTRICTED OR PROHIBITED AREAS ON THIS LINK: https://ax.net/countries.

INTRODUCTION AND ACCEPTANCE OF THE TERMS

This legal document sets out the Terms of AXNET services including but not limited to the use of this our websites, located at https://ax.net, mobile applications, registering for AXNET account and the exchange services provided by us as described in these Terms (hereinafter: Services), offered by AXNET and are specified in Section “Description of Services” below.

This legal document is valid and legally binding agreement between you and AXNET. In addition to these Terms of Service, please also read our Privacy Policy and Cookies Policy. The terms of Service, Privacy Policy and Cookies policy constitute three necessary and binding documents every user must read, accept and follow. The three documents together define the conditions that every user must agree to when using AXNET services meaning that the use of the Services is conditional upon acceptance of all the three legal documents. Depending on your country of residence, statutory seat or place of incorporation, you may be restricted or prohibited to use some or all the functions of this website. It is your responsibility to follow those rules and the laws of your country of residence and/or country from which you access this website and Services that AXNET offers. By opening an account, you expressly agree to these Terms of Service, Privacy Policy and Cookies policy, and you represent and guarantee that you are at least 18 years old and have the full legal capacity and an appropriate business capacity to accept these Terms, Privacy Policy and Cookies Policy and enter into a transaction that involves buying, selling, withdrawing, depositing virtual currencies, specified in Section “Description of services”. These Terms apply solely for the Services specified in these Terms and do not govern any other legal relations between user and AXNET.

DEFINITIONS

The term “we”, “exchange”, “virtual trading platform”, “us”, “our” refers to AXNET OÜ.

Depending upon the context, “AXNET” may also refer to the services, products, website, content or other materials provided by AXNET.

The term “you”, “user”, “client”, “website visitor” refers to users of our services or website visitors.

The term Buyer refers to anyone buying virtual currency at AXNET. Seller refers to anyone who sells his virtual currency using AXNET platform. Users of the AXNET platform are normally both, buyers and sellers.

AXNET OÜ is s Private Limited Company, having its statutory seat at the following address: Harju maakond, Tallinn, Lasnamäe linnaosa, Peterburi tee 47, 11415. AXNET owns the domain https://ax.net and is an exchange platform for buying, selling and securely storing virtual assets. AXNET is incorporated under the Laws of Estonia, with a registry code 14434357.

SPECIAL NOTE: RISKS OF TRADING VIRTUAL ASSETS

Any kind of trading of virtual assets and currencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks. Your virtual assets may be lost by losing your password, private key or other security code. There are also other potential risks that may not be foreseen in these Terms.

Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies are autonomous and largely unregulated system of firms and individuals issuing currencies.

The risk of loss in trading, buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether trading in virtual assets / currency or any levered or derivative virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis.

AXNET uses payment providers for transfers of fiat money for rendering exchange services and operating with the fiat money, whereas assisting banks do not, by any means, represent a medium of exchange, transfer, withdrawal, deposit or other transaction in connection to virtual currencies.

AXNET shall not ask you for any password or private key, nor shall we ask users to transmit any funds, Bitcoins or other virtual currency to our bank account, Bitcoin address, Ethereum address or other addresses, which are not listed on the trading platform. Please do not trust any discount or promotion related information. AXNET shall not be responsible for any losses caused by transmitting funds from/to bank accounts, or virtual funds to any addresses that are not listed or given to you on the trading platform.

Take care of always accessing AXNET website through link https://ax.net and and AXNET exchange through link: https://trade.ax.net/login. In case of uncertainty or suspicious link given on forums or received by suspicious account, user or website, please contact our support immediately and do not transfer any fiat or virtual money to such suspicious links or accounts. In case of uncertainty, always type the website https://ax.net or https://trade.ax.net/login into browser yourself.

DESCRIPTION OF SERVICES AND TRADING LIMITATIONS

The exchange services, operated by AXNET, allow users to buy, sell and store virtual currencies such as but not limited to: Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litcoin, EOS, Ripple, Stellar and other tokens and coins that are carefully selected by AXNET.

Our exchange does not offer any coins or tokens that are or might be considered as securities.

AXNET services also allow all registered users to:

• Buy/exchange virtual currency for fiat money
• Exchange virtual currency for virtual currency
• Transfer virtual currencies to other AXNET wallet addresses or other third party wallet addresses
• Storing virtual currencies in the AXNET virtual currency wallet

Every user has to open a user account (for detailed instructions see the section “CREATING AN ACCOUNT” down below or check the instructions on the website in “How AXNET works” section), connect your bank account or your payment card (Mastercard, Visa or other debit card).

AXNET uses only EUR as a conversion currency. All prices on the AXNET platform are shown in EUR. USD or other fiat currencies are currently not possible to use for exchange on AXNET platform. AXNET reserves the right to add other conversion currencies in the future. AXNET also reserves the right to remove any of trading pairs in future.

AXNET offers users to buy virtual currencies with EUR or credit cards (Visa and MasterCard). AXNET does not offer to use debit cards (Maestro), bonus cards or other means at this moment. AXNET reserves the right to add other means of payment in the future.

If a user wishes to use a Credit Card payment and pay in his native fiat currency (USD, GBP, or other), the amount that user wishes to use to obtain virtual currency will be converted to EUR currency by the credit card provider.

You may request a withdrawal of your virtual assets of fiat equivalent of such assets, subject to the limitations as stated in the Terms. The amount of funds for payments and withdrawals of fiat money are limited per day and per month. For purpose of purchasing virtual currency, user can make a deposit of maximum of 20.000 EUR per day and maximum of 100.000 EUR per month. In case that this daily amount exceeds the set limit, the excess amount will be automatically returned to users bank account from which user has made SEPA payment. If the user made a payment using a credit card for the amount higher than a daily limit, AXNET will process the payment of the amount reaching the daily limit and deny the payment of the excess amount. The limitation applies to natural persons. This is a precautionary measure for AML purposes.

The amount of deposited, traded, transferred or withheld virtual currency per day and month is not limited.

AXNET will make its best endeavor to provide users with the Service in a timely manner and as soon as possible, however there is no guarantees that access will be uninterrupted, or that there will not be any delays, failures, errors, omissions, or other impairments of the system or the loss of the transmitted data. While AXNET has made every effort to ensure continuity, speed and security of the Services, we are unable to completely foresee and hedge every legal, technological and other possible risk, including but not limited to force majeure, hacker attack, system instability, virus, flaw in third-party services, act of government and other unforeseen risk that may result in service interruption, data loss and other losses and risks.

AXNET reserves the right to upgrade, improve or enhance security by taking the website out of the service – AXNET shall do so as soon as reasonably possible and shall not be held liable for damage that results from inability of users to make transactions. When upgrading the website in order to improve user experience or upgrade the website, the website might face a downtime. A downtime may also happen if the high volume of users make transactions and or use platform at the same time. AXNET shall not be responsible for the damage resulting from such downtimes.

For high volume or abnormal transactions, market interruption and other conditions that are caused by system failure, network failure, distributed denial-of-service (DDos) and other hacker attacks and other unexpected factors, AXNET reserves the right to cancel the abnormal transaction results, and rollback all the transactions of a certain period of time.

In accordance with operational and security needs, AXNET may suspend or restrict part of the Services, or start providing additional services. By continuing using the Services, after any changes, additions and deductions of the Services, you continue to agree to the Terms and any other Terms added subsequently. Users will be informed about the changes with an email.

AXNET has made every effort to ensure the accuracy of the information on the website. The content and information given on the website are subject to change without a notice and are provided for the sole purpose of assisting users to make independent decisions. AXNET has taken all reasonable measures to ensure the accuracy of the information on the website, however AXNET does not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Services available through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your own inability to access our website, nor shall be responsible for any delay or failure of the transmission or the receipt of any instruction or notifications sent through our platform.

It is the sole liability of users to prepare devices and bear costs for internet connection of their devices and internet accessibility and coverage off the internet provider and mobile carriers.

NOTE that exchanging assets for fiat money or any kind of assets on AXNET platform are final, meaning that user can not return the purchased virtual assets back for the purchase price later and redeem the same amount of money that he spent on purchasing. In case user does not wish to hold his assets, he has to exchange it for the desired asset.

CREATING AND CLOSING AN ACCOUNT

CREATING AXNET ACCOUNT

Registering with AXNET is a procedure, which every user must complete in order to use AXNET Services. Registration (also known as “Know your customer” or “KYC”) is a mandatory step for every user due to the Anti money laundering rules that AXNET must follow. You can find more about the KYC in the Privacy Policy. AXNET will process your account data you provide when you open AXNET account, perform transactions on the AXNET platform, or use other AXNET Services. This information may include:

• Contact information, such as name, home address, email address (which will have to be confirmed), date and place of birth, mobile phone number (which will have to be confirmed by sending you an entry code).

• Account information, such as username and password.

• Financial information, such as bank account numbers, bank statements, and trading information.

• Identity verification information, such as image of your government issued ID, passport, national ID card or driving license

• Residence verification information, such as utility bill details, phone bill or similar document.


The source of the account data is user who opens an account. The account opening data will be used and processed for the purposes of performing a detailed Know Your Customer (Hereinafter: KYC) procedure according to necessary Anti-Money Laundering and Anti-Terrorist Regulations. KYC process verification is a mandatory step for every new user before his/her first purchase. AXNET will guide you through the process step by step.

AXNET will make a thorough due diligence of each user (natural or legal person) according to our internal risk management policy.


LOGIN

When login to our platform, user must first enter your email and password. After that user will receive a code via SMS, that user will need to enter in order to sign in and register (for security reasons, you will receive a new code on your mobile number each time you sign-in to AXNET). After entering the code, you will see the control panel of user account.

Every registered user have his/her own wallets on AXNET platform. The wallet consists of the two features: (1) actual wallet for the virtual currency / tokens to be stored and (2) the balance of the fiat, which user deposited for the purchase of virtual currency. We use the term “wallet” for both – wallet for virtual coins and tokens, and balance for the fiat money (EUR). NOTE that AXNET does not offer users a fiat money account. The wallet shows only the balance of fiat money, which is available to user for the purpose of purchasing virtual currency on AXNET platform. The wallet does not serve as a fiat deposit account and user can not make any transaction of fiat money other than to buy virtual currency on AXNET platform. However, the wallet does indeed serve as a deposit / withdrawal and storage account for virtual assets.


CLOSING AXNET ACCOUNT

You may close your account at any time. In case you wish to do so, you will need to move your virtual assets to another wallet first. In case there is also a fiat balance shown in your wallet, AXNET will return fiat assets and transfer them to your bank account, which you have previously connected to your AXNET account. By deleting your account, additional processing and bank costs may arise for the user.

If you have purchased virtual currencies only by using your Credit Card and have not yet connected your Bank account with AXNET account, you will have to connect your bank account with your AXNET account in order to get a refund of your fiat money. NOTE: in case of closing your AXNET account, you do not delete your personal data, which we have obtained in the KYC process. More about the deletion of your personal data read in our Privacy Policy.

Even when closing your AXNET account, you will still be obligated to fulfill your responsibilities on pending transactions. In addition, you are responsible to AXNET for any fees incurred before the closure. AXNET may also terminate your account at any time and at our sole discretion, upon notice to you by e-mail or other communication channel. Note that it is in our sole discretion to suspend your access to the Services if it is suspected that you have failed to comply with these Terms, pose an unacceptable fraud or regulatory risk to AXNET or if you provide any false, incomplete, inaccurate or misleading information. AXNET will not be liable to you for any losses incurred in connection with the closure or suspension of your account by AXNET.

PURCHASES AND WITHDRAWALS

PURCHASING WITH SEPA (BANK ACCOUNT)

Before buying your first cryptocurrency with SEPA deposit, you must add a bank account to your AXNET account and verify it with a deposit of minimum 25 EUR.

You can do that by entering your bank account details (Bank name, SWIFT/ BIC and account number) in to the form. After that, you will receive payment order with the AXNET bank details and your own individualized reference number. User must go to his online bank or go physically to the bank and make a SEPA payment using the payment order. User will get a notification email when AXNET receives the funds to his account. For successful verification of your bank account or credit card, you must deposit at least 25 EUR with the SEPA form. These funds will be shown in your wallet under balance and will be available to make a purchase of virtual currencies on AXNET or withdrawal of the funds back to your bank account.

It usually takes 1-3 days for the fund to be transferred, however it can take up to 7 days to be transferred with the SEPA payment. This is the time that bank needs to process the transaction. AXNET cannot affect this time and shall not be liable for the possible damage that would result from this.

User can connect multiple bank accounts to AXNET account. User who verified one or more of his / her bank accounts to AXNET account, will not be able to make purchases with any other bank account but only with the bank account connected to AXNET account. AXNET does not accept payments from other bank accounts, which are not connected to user’s AXNET account and the funds paid shall be returned to user.


PURCHASING WITH CREDIT CARD

User can also buy virtual currencies by using a credit card. User must enter the respective details of the credit card to be able to buy virtual currency – there details are: credit card holder name, credit card number, expiration date and CVC. In case of using a credit card, you do not have to connect your bank account with AXNET account. The minimum purchasing amount is 25 EUR.

NOTE that it is sole responsibility of users to use the Credit card that is his / hers or third party’s credit card, which he /she is authorised to use. In case that user buys virtual currency with a stolen card or does not have authorisation of a credit card holder to use it, this can result in freezing user’s assets and user’s AXNET account. All such actions shall be announced to law enforcement or other public authorities respectively


WITHDRAWALS OF FIAT TO USER’S BANK ACCOUNT

Withdrawals of fiat money are possible only to the provided bank account. If user connected only his credit card with AXNET account, he will be requested to add and verify his bank account when making a withdrawal.


WITHDRAWALS OF VIRTUAL CURRENCIES

Users can withdraw (transfer) their virtual assets to another wallet or account. All transfers are in sole responsibility of the user. Be careful to always enter the wallet address to which you wish to transfer your virtual assets to. AXNET is not responsible for the transferred of your virtual assets outside your AXNET account.

FEES FOR SERVICES

AXNET operates on the basis of fees exclusively and shall not issue any invoices.

Fees may be incurred for part of the Services provided by AXNET to its users. You shall abide by relevant agreements while using such services. AXNET may change the fee models and structures of such services as the case may be and at any given time. AXNET may also start charging fees on free services, if there are any. AXNET shall release an announcement or put up a notice on respective page before the above-mentioned changes or modifications are made and come into force. You shall stop using the service if you disagree on the above mentioned changes, modifications, fee changes or paid content.

Services shall be paid in EUROS if the transaction shall be made in EUR. If the transaction is made in virtual currency, fee shall be paid in correspondent virtual currency. Unless otherwise stated or agreed, the user agrees that the AXNET network has the right to deduct the fees for its services directly from the assets of the user account. Fees shall be paid at the time of the completion of each transaction.

KNOW YOUR CUSTOMER (“KYC”) AND ANTI MONEY-LAUNDERING (“AML”)

AXNET is a virtual exchange, having acquired two operating licenses by the Financial Intelligence Unit, namely for:

• Providing services of exchanging a virtual currency against fiat currency (License no. FRK000246)

• Providing a virtual currency wallet service (License no. FRK000204)

Both licenses are issued by the Estonian Financial Intelligence Unit (Hereinafter: FIU), which is the Anti Money Laundering authority in Estonia. AXNET has established and follows strict rules for AML and KYC procedure and is fully compliant with Estonian Money Laundering and Terrorist Financing Prevention Act (hereinafter: the Act), and obtained licenses on the basis of the fully compliance with the rules of the Act.

AXNET has the right to know the real transaction background and purpose of the users who use our product or our service. Users should always provide the real, comprehensive, accurate information required by AXNET and its procedure; if AXNET has reasonable grounds to suspect that the user has provided false trading information or identity information, AXNET is entitled to restrict the user from the use of the exchange for some or all products and services functions temporarily or permanently.

Each user is allowed to create and use one account only. If user will try to open multiple accounts, AXNET shall have to discretion to not verify it and block it.

NOTE that AXNET has a strict obligation to assess all the transactions from the anti-money laundering and counter-terrorist financing regulations and report the suspicious transactions to the regulator (FIU).

ELIGIBILITY FOR SERVICE, PROHIBITION OF THIRD COUNTRY USERS

Services are intended solely for users who are 18 or older and for legal persons.

By accessing or using our Services, you warrant and guarantee that you are at least 18 years old and have the full legal capacity and an appropriate business capacity to make transactions.

SERVICES OF AXNET ARE INTENDED AND ARE TO BE USED SOLELY BY THE CUSTOMERS / USERS, NATURAL OR LEGAL PERSONS, WHO ARE RESIDENTS, ARE INCORPORATED OR HAVE ITS REAL SEAT IN THE COUNTRY WHERE TRADING VIRTUAL ASSETS IS LEGAL AND NOT PROHIBITED OR RESTRICTED. ONLY SUCH USERS / CUSTOMERS ARE ALLOWED TO MAKE USER ACCOUNT AND BUY, SELL, HOLD, WITHDRAW, DEPOSIT OR OTHERWISE TRADE AT AXNET EXCHANGE AT THIS TIME.

You also represent and warrant that you are not a member of any such country with restrictions or prohibition. NOTE that in case if user withdraws fiat money from AXNET account to his bank account, which is in tax free country, AXNET shall analyse the content of the information received, considering the User’s current area of activity, payment practice and other known information, and report to FIU if the transaction is being considered suspicious.

You also represent and warrant that you are not on any trade or economic sanctions lists, such as the United Nations Security Council Sanctions List, nor restricted or prohibited from engaging in any type of trading platforms by the Hong Kong Monetary Authority, Hong Kong Customs and Excise Department, as well as other administrative law enforcement agencies.

The list of prohibited / restricted areas include areas is accessible here: https://ax.net/countries

RIGHTS AND LIMITATION TO USE AXNET WEBSITE AND SERVICES

AXNET grants you a limited, nonexclusive, nontransferable license, subject to these Terms, to access and use the AXNET website and Services, solely for approved purposes as permitted by AXNET.

The Services are protected by the copyright and other intellectual property laws. All rights not expressly granted in these Terms are reserved. This website has the right to inquire, freeze or deduct the items and accounts of the user in according to the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on. You agree you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the intellectual property without the explicit written consent of AXNET. Name AXNET, website www.Ax.net, trademark logotype, images, texts, the content of the website, graphic design, databases, and corporate identity represent the intellectual property of AXNET OŰ. All other brands, product names and company names or trademarks are the property of their respective owners. All the above stated belongs to AXNET OŰ and is its sole property, including all the material rights on the texts, graphics, content, trademarks, databases, etc. created by third party contractors, employees, AXNET consultants, and other AXNET partners. By accepting these Terms you agree that all the above stated is protected by copyrights, trademarks or other respective intellectual property rights.

All content provided on this website by AXNET, including but not limited to information and materials provided in connection with your profiles, questions and answers, requests for information, users` comments, is your sole responsibility and AXNET excludes its full responsibility. You agree and acknowledge that you are fully responsible for all the content you provide to us. AXNET does not guarantee the accuracy, integrity and quality of users` profiles, content, comments, etc. You agree that AXNET is not responsible for any loss or damage that your reliance on the mentioned information may have on you.

You acknowledge and confirm that you will not use this Website and Services for any purpose that is illegal, unlawful, unethical or inconsistent and/or contrary with these Terms and the purpose for which this website and services were created. AXNET reserves the right to investigate all violations of these Terms of Service, threats and unauthorized use of the website and will act accordingly and in a manner that is considered appropriate, including, among other things, reporting on the suspicion of illegal activities to the competent law enforcement authorities, the regulator or other authorized third parties. If necessary and bound by the law, AXNET will disclose all the relevant information to the above stated authorities, including personal names, emails, IP address, search history, etc. You also acknowledge that you will not perform any activities that would, at our discretion, constitute or represent a disproportionate and excessive burden on our website, exchange and related infrastructure, (that would not in any way interfere with or attempt to interfere with the proper functioning of thewebsite and affect Services, or would try to circumvent our measures to restrict access to the Website and Services whatsoever.

USERS` OBLIGATION

Users shall respect and follow these Terms and Privacy Policy, as well as other rules for trading virtual assets. Users are obliged to act truly and transparently when completing KYC procedure. They should act with a care of a good citizen. Users shall not, by any means, use AXNET to endanger national security, security of people or disclose state secrets. User shall not violate the national community and the legitimate rights and interests of other citizens, and shall not use this site to produce, copy and disseminate any information that would serve for the purpose of incitement to resist, undermining the implementation of constitution, laws and administrative regulations, undermining national unity, organizing or financing the attacks on the national sovereignty, institutions, governments and people.

If the user violates any laws that apply to him regarding using our Services, or the above stated requirements, AXNET has the right to take all necessary measures directly, including but not limited to deleting the content posted by the user, canceling the customer’s account, rating, honor and virtual wealth, pausing or seizing the users account, illegal gains, and even through the form of action to prosecute the user legal responsibility. In such case AXNET shall inform legal authorities about such user and reserves the right to announce such user publicly in order to ensure safety of other users, other exchanges, people, institutions, governments and states.

Users are obliged to immediately provide AXNET with any changes in personal information being provided in initial KYC procedure.

DISCLOSURES TO THE AUTHORITIES

AXNET may share or disclose your Personal Information with law enforcement, data protection authorities, government officials, authorized financial institutions and other authorities when it is:

• Required by law;

• Compelled by a court order, or other legal procedure;

• Reasonably believed by AXNET that disclosure is necessary to prevent physical harm or financial loss;

• necessary to report suspected illegal activity and disclosure is justified respectively;

• necessary to investigate violations of our Terms of Service or Privacy Policy.


AXNET will disclose all the relevant information to the above stated authorities, including personal names, emails, IP address, search history, etc.

Any circumstances identified in the user’s transactions that are unusual or suspicious or there are characteristics which point to Money Laundering, Terrorist Financing, or an attempt of the same, AXNET shall disclose such behavior of users to the relevant authorities.


For more information, please contact us at: [email protected]

INTERRUPTION, TERMINATION, RESTRICTION, DISRUPTION AND CHANGE OF SERVICES

AXNET may change the service content and/or may also interrupt, suspend or terminate the service and inform users) about such case.

AXNET reserves the right to discontinue or terminate the services provided to you without notice, including in the following cases:

(1) If the personal information you have provided is not true, inconsistent with the information at the time of registration or later and failed to provide reasonable proof (please remember, according to the laws or regulations you are obliged submit the true information);

(2) If you violate the relevant laws and regulations or these Terms of Service;

(3) When required by any law or regulation, as well as the requirements of the competent public and local authorities;

(4) When security is or could potentially be compromised.

(5) Other circumstances that invoke necessary measures for legal compliance and safety.

You agree to safeguard the security of your account and the virtual assets within your account. AXNET reserves the rights to freeze a part or all of your assets, or otherwise restrict you from accessing part or all of the Services, given that the circumstances show that your account is exposed to potential risks according to these Terms, laws, regulations, legal instruments, government requests and other circumstances, for which AXNET estimates such risk. AXNET shall “unfreeze” the frozen account when the conditions to do so are met and there is no risk of any kind for AXNET and the user. AXNET reserves the right to determine whether to unfreeze partially or wholly when users request to unfreeze. You shall fully understand the request to unfreezing account may not be necessarily accepted, and before unfreezing the account, you shall cooperate with us on identity verification or other relevant requirements and provide, including but not limited to, identity information, identity card, passport, other valid identity documents and other documents or information required by AXNET.

LIMITATION OF LIABILITY, EXCLUSION OF ANY WARRANTIES AND GUARANTEES

There is no assurance that AXNET trading market for virtual assets will be orderly and stable. Every user him/her/itself should exercise prudence in trading virtual assets (as well as any other assets). Prices can and do fluctuate on any given moment. Due to such price fluctuations, user may increase or lose value in virtual assets at any given moment. Any virtual asset or trading position may be subject to a large volatility in value and may even become worthless or illiquid.

Every user shall bear any losses resulting from the other user or users` transaction instruction errors (including but not limited to price, quantity and other factors).

The user shall bear any loss resulted in his/her own fault or error, including but not limited to unprompted operation or transaction, not timely trading operations, forgetting or leakage of passwords, cracked passwords or private keys, and/or the invasion of the user’s computer by third person.

In the event of a potential loophole in the trading rules that unjustly enriches the user, we will contact the user to recover the gains. The user must effectively cooperate, otherwise, we will take actions, including, but not limited to restrictions on account transactions, freezing account funds, legal enforcement of the user in a court and other recourse measures. In the event the user does not cooperate, the user will also bear recourse costs.

The information, which AXNET provides on its website may be inaccurate or have typographical errors and AXNET shall not be liable for such errors.

AXNET shall also not be liable for any direct, indirect, punitive, incidental, consequential, and other damages or loss of data, profits, goodwill or reputation, personal injury or any other damage resulting from (i) your access and use of this website or AXNET Services, (ii) your inability to use the website or Services (iii) any information or content contained on our website, (iv) your information or material provided on our website. The exclusion of liability applies regardless of whether the damage was caused by a breach of contract, liability for damages, negligence, and strict liability or otherwise.

Unless expressly provided in these Terms, AXNET does not make any representations and excludes any warranties, expressed or implied, to the fullest extent possible under the applicable law regarding the relevance, reliability, availability, timeliness and accuracy of the Services and website information, the content of the website and links to third party websites on our website. Our Services, website, information and content on it, are provided without any warranty of AXNET of any kind.

AXNET platform works as a network – a third party platform for “network service provider” and as such does not guarantee that the platform can fully meet the needs of users.

INDEMNITY

To the full extent permitted by the applicable law, you hereby agree to indemnify AXNET and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our website, your use of the Service or from your violation of these Terms.

JURISDICTION AND APPLICABLE LAW

This Terms of Service shall be governed by and interpreted in accordance with the law of the Republic of Estonia. In case of a dispute, parties shall solve disputes in a extrajudicial way – users of the Services agree to a mediation procedure according to Estonian law and mediation procedure, before taking the case before the court. Should the dispute not be settled in mediation procedure, then the Harju County court shall have exclusive jurisdiction to solve it.

MISCELLANEOUS

These Terms, including Privacy Policy and Cookie Policy, govern the legal relationship between you and AXNET regarding the use of our website.

In the event that one of the parties does not exercise its right under these Terms, such conduct of the client or user shall not be considered as a waiver of the right or as a waiver of other rights.

AXNET shall not be liable for failure to fulfill its obligations under these Terms, if such failure is the result of any reason beyond the reasonable control of AXNET, which includes, inter alia, force majeure, hacker attacks, mechanical, electoral and communication impairments or deterioration.

If any provision of the Terms turns out to be unenforceable or invalid, then that provision shall be limited or eliminated to the minimum extent necessary for the Terms to remain in force.

Users will be able to use the website and Services in the following languages: English, German, French, Italian, Spanish, Polish, Dutch, Slovene, Croatian, Swedish, Portuguese, Danish, Greek, Estonian, Latvian, Lithuanian, Slovak, Bulgarian, Hungarian and Czech. The main language of the website, Services, Terms of Service, Privacy Policy and Cookies Policy is English. In case of an inconsistency between the translations, English language shall prevail for interpretation.

AXNET may transfer or assign to third party rights and obligations under the Terms, without your consent. In such case AXNET shall inform you about the transfer by email or other communication channel.

Terms shall come into effect from the moment you accept the terms by entering AXNET website / platform, and expire when you stop using it or when these Terms expire.

MODIFICATION OF THESE TERMS

AXNET reserves the right to change and update these Terms of Service within the Website at any time. We will inform users of the changes. It is your responsibility to familiarize yourself with any possible changes. The date of the last Terms is in the document. If you have any questions, please contact us at [email protected]

If these Terms become unacceptable to you or you do not agree to the Terms after modifying them, do not use this site anymore and delete your user account. By using the Website and trading on the exchange, you agree to the Terms of Service as modified.

CONTACT AND COMPLAINTS

If you would like to contact us regarding Terms of Service, Privacy Policy or Cookies Policy, please contact us at [email protected] You agree that your feedback may be used to improve and/or modify our website and Services without any limitation or obligation to pay.