Plutux is a Gibraltar-based cryptocurrency to cryptocurrency exchange that enables its users to trade cryptocurrencies on a mobile focused platform. The exchange will not accept fiat currencies from users (i.e. USD, EUR, GBP, JPY, etc.). Only accepted cryptocurrencies may be deposited as may be made available by us at our discretion.
These are the Terms and Conditions (“Terms”) apply to the use of the various services available on the domain of www.plutux.com which includes our web and mobile applications (jointly or severally)(“Applications”).
Parties to the Agreement
Plutux is a company incorporated in Gibraltar under the registration number 117246, having its registered address at Suite 23, Portland House, Glacis Road, GX11 1AA, Gibraltar
References in these Terms to “your” or “you” are to the person/entity who accepts these Terms and agrees to create accounts and use the services as set out in and on the these Terms. You and Plutux shall together be referred to as the “Parties” and references to a “Party” shall be to the relevant one of them as the context requires.
In these Terms unless otherwise specified:
references to clauses are to clauses of these Terms;
a reference to a sub-clause is to a sub-clause of the clause in which such reference appears, to a paragraph is to a paragraph of the sub-clause in which such reference appears and to a sub-paragraph is to a sub-paragraph of the paragraph in which such reference appears;
a reference to any statute or statutory provision shall be construed as a reference to the same as it may have been, or may from time to time be, amended, modified, or re-enacted after the date of these Terms;
references to writing shall include any models of reproducing words in a legible and non-transitory form;
references to the plural or singular shall be interchangeable as circumstances require; and
This Agreement applies to your use of our web application and mobile application, which includes but not limited to, the trading platform, and to the electronic content and / or software currently contained on / or obtained through the web application and mobile application that provides you with real-time information on exchange rates of cryptocurrencies, and the program transaction services, and any other features, content or services as offered from time to time on our web application and mobile application (the “Services”).
Registration & Eligibility
In order to become an Account Holder you must register and create an account with us.
You agree to provide accurate information, accurate and complete information about yourself during the registration process and you also agree not to impersonate another person or entity, and not to hide your identity from Plutux for any reason whatsoever. If you register as a commercial entity, you declare that you have the required authority to bind that entity to this Agreement. Plutux is required by legislation to obtain, verify, and record information identifying each person who opens an account. Hence, when you open an account, Plutux asks that you provide certain documents to identify yourself and to verify the information you have submitted to us upon registration, such as identification card or a passport, a utility bill, a bank statement or any document proving their identity issues by a governmental body. Plutux reserve the right to refuse or reject a registration, at our own discretion or based on regulatory restrictions imposed on us.
You are only allowed to register to become an Account Holder and/or use the Services if you are not at least 18 years of age and eligible in accordance with the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject. Plutux has no obligation or capability to, and therefore does not, verify whether you are eligible to use any of the Services and we shall not bear any responsibility for your use of the Services and/or the Applications.
Residents and citizens of the united States of America (including corporations registered there) will not be eligible to become Account Holders
We may directly or indirectly (through third parties), make any inquiries as we consider necessary to check the relevance and accuracy of the information provided for verification purposes.
Depending on the Account Holder’s place of Residence, some or all of the Services may not be available.
Your Representations and Warranties
By becoming and Account Holder and/or by using the Services you hereby agree, represent and warrant that:
you have read understood and accept these Terms;
you have the necessary authority and consent to accept these Terms, to enter into a binding agreement with Plutux and to perform the obligations set out herein;
you have sufficient understanding of the functionality, usage, storage, transmission mechanisms and intricacies associated with cryptocurrency (like Bitcoin and Ethereum), cryptocurrency storage facilities (including Virtual Currency Wallets), Blockchains and blockchain-based software systems;
You have experience and sufficient knowledge in financial and cryptocurrency matters, able to evaluate the benefits and risks of acquiring and trading cryptocurrencies via the Services;
if you are an individual, you are at least 18 years of age, you have sufficient legal capacity to accept these Terms and to enter into a binding agreement with Plutux on the terms set out herein;
You are not a politically exposed person and you do not have any relationship (e.g. relative, associate etc.) with a person who holds or held during the last 12 months any public position;
you understand that laws regarding cryptocurrencies vary throughout the world, and that it is your responsibility to make sure you properly comply with any law, regulation or guideline in your country of residence regarding the use of the application. To avoid any doubt, you confirm that you understand that your ability to access and use the Services does not necessarily mean that the Services and/or your activities through the Services are legal under the laws, regulations or directives relevant to your country of residence;
You understand that investment in Bitcoins (or any other cryptocurrency) involves greater risks than associated with investment in traditional currencies or assets and as a result losses of capital may occur. We advise that you should not invest more than you can afford to lose;
You understand that you should not invest more than you can afford to lose and that you understand that any risks taken by you are solely your responsibility, and Plutux bears no responsibility whatsoever for funds lost whether directly or indirectly;
you shall not use the Services for any purpose that is illegal, such as but not limited to:
money laundering, terrorist financing, proliferation of weapons of mass destruction;
any goods of services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda of signs of unconditional organisations glorifying war or violating human dignity;
any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
drugs, narcotics or hallucinogens;
weapons of any kind;
illegal gambling services;
Ponzi, pyramid or any other “get rich quick” schemes;
goods that are subject to any trade embargo;
media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
body parts or human remains;
protected animals or protected plants;
you shall not use any cryptocurrency you receive through the use of the Services to finance, engage in, or otherwise support any unlawful activities;
you shall not interfere with or attempt to interrupt the proper operation of the Applications or the Services through the use of any virus, device, information collection or transmission mechanism, software or routine, or access or attempt to gain access to any data, files, or passwords related to the Services through hacking, passwords or data mining, or any other means; using the Services is not unlawful or prohibited under the laws of your jurisdiction or under the laws of any other jurisdiction to which you may be subject and your use of the Services shall be in full compliance with applicable laws (including, but not limited to, in compliance with any tax obligations to which you may be subject in any relevant jurisdiction);
you will comply with any applicable tax obligations in your jurisdiction arising from your use of the Services.
you will monitor all and any changes to your account and take all steps to maintain and ensure the confidentiality of your account’s credentials, including, but not limited to passwords and emails and/or usernames.
You will immediately inform of any unauthorized use of your Account or password, or any other breach of security by email addressed to [email protected]
you are responsible for any and all damages caused, and all liability actions brought against Plutux for any breach infringement of these Terms or of any third-party rights or violation of any applicable laws.
nothing in these Terms excludes or limits the liability of the Account Holder for fraud, death or personal injury caused by their negligence, breach of the Terms implied by operation of law or any other liability which may not be limited or excluded by law.
The risk of transmitting/sending cryptocurrency to the wrong wallet address;
any errors or malfunctions caused by or otherwise related to the Services including your own failure to properly maintain or use your account may result in the loss of cryptocurrency ;
You acknowledge and agree that Plutux may, where applicable, make payments to third parties that help initiate, conclude or maintain a business relationship between Plutux (or Plutux's affiliates) and its clients. These payments may include rebates, commission, widened spreads, and profit sharing.
Suspension or Termination
We reserve the right to suspend or terminate your account at any time for any reason including but not limited to your breach of these Terms (including fraudulent activity) without prior notice or liability. We also reserve the right to change, suspend, or discontinue all or any part of the Services at any time without prior notice or liability.
Further should your account be suspended or terminated you may lose access to your account which may result in any cryptocurrency stored or held on your account becoming unavailable.
We further reserve the right in our sole discretion, to refuse or cancel any of our Services, and/or refuse to distribute profits to any person for legitimate reasons, including, without limitation:
If we have reason to believe that your activities or use of the Services may be illegal;
If we may be harmed by any fiscal or pecuniary damage due to your activities on or through the Services;
By becoming an Account Holder and/or using the Services you expressly acknowledge, accept and assume the following risks:
Risk of software weaknesses: because the Services are based on Blockchains, any malfunction, breakdown or abandonment of any Blockchain may have a material adverse effect on the Services. Moreover, advances in cryptography, or technical advances such as the development of quantum computing, could present risks to the Services, by rendering ineffective the cryptographic consensus mechanism that underpins Blockchains.
Regulatory risk: blockchain technology allows new forms of interaction and it is possible that certain jurisdictions will apply existing regulations on, or introduce new regulations addressing, blockchain technology based applications, which may be contrary to the current setup of the smart contract system and which may, inter alia, result in substantial modifications to the Services, including its termination.
Risks associated with uncertain regulations and enforcement actions: we may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. This may result in you losing access to your Account and may further result in the loss of any cryptocurrency stored or held on your Account
Risk of mining attacks: Blockchains are susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and rare condition attacks. Any successful attacks present a risk to the Services, and the expected proper execution and sequencing of transaction carried out through the Services. You understand and accept that the network of miners will ultimately be in control of the delivery of cryptocurrency via the Blockchain, and that a majority of miners could agree at any point to make changes, updates, modifications to, or effect a deletion or destruction the Blockchain.
Risk of uninsured losses: unlike bank accounts or accounts at some other financial institutions, any cryptocurrency held in your account are uninsured unless you specifically obtain private insurance to insure them. Thus, in the event of loss, there is no public insurer or private insurance arranged by us, to offer recourse to you.
Risks arising from taxation: the tax characterization of cryptocurrency is uncertain. You must seek your own tax advice in connection with acquisition, storage, transfer and use of any cryptocurrency , which may result in adverse tax consequences to you, including, without limitation, withholding taxes, transfer taxes, value added taxes, income taxes and similar taxes, levies, duties or other charges and tax reporting requirements.
Risk of dissolution of the Company or network: it is possible that, due to any number of reasons, including, but not limited to, the negative adoption of the Services, the failure of commercial relationships, or intellectual property ownership challenges, the Services may no longer be viable to operate and we may dissolve which may result in any cryptocurrency stored or held on your account becoming irrecoverable and/or permanently lost.
Deposits, Withdrawals and Orders
Account Holders are able to use the Services in order to enter into Transactions.
“Transaction” shall mean (i) transfer of cryptocurrency belonging to an Account Holder outside of the Services and or Application to his/her Account (a “Deposit”); (ii) transfer of cryptocurrency from an Account Holder’s account to a cryptocurrency wallet outside of the Services and/or Applications (a “Withdrawal”) and (ii) the use of the Services and/or Applications for trading cryptocurrency (a “Trade”).
Transactions can be entered into by Account Holders by giving instructions through the Applications (an “Order”)
By placing an Order you agree that once an Order is executed through the Services such Transaction is irreversible and may not be cancelled.
Transactions for Deposits or Withdrawals may be delayed and may not be reflected on your account or on a cryptocurrency wallet (in the case of Withdrawals) until such time as the relevant blockchain confirmations have been carried out.
Where you make a Deposit or Withdrawal you agree that you are aware of the risk of transmitting/sending cryptocurrency to the wrong cryptocurrency wallet which may lead to the irretrievable loss of your cryptocurrency
Plutux may set minimum and maximum Order amounts for Transactions which can be seen on the Services when placing an Order. Orders for Transactions below or above the set minimum and maximums will not be accepted.
It may become necessary for Plutux to round up or limit the number of decimals following the separator for Transactions. Where it is necessary to limit decimals we will round the relevant value to the figure most beneficial to us
By placing an Order you agree that you are solely responsible for determining whether any contemplated Transaction is appropriate for you based on your personal goals, financial status and risk willingness.
By using the Services for the purposes of placing Orders or making Transactions you agree and acknowledge that:
that it may not be possible for Plutux to cancel or modify an Order. Accordingly, any attempt to cancel or modify an Order is simply a request to cancel or modify and shall not be recognized by Plutux, unless specifically approved by Plutux. Plutux shall not be liable for any loss you may sustain in the event of a non-cancellation of any Orders under any circumstances;
Plutux does not guarantee the execution of such orders and/or the execution of such orders at a specified price or amount.
Plutux will make its best efforts to execute orders for cryptocurrencies ; and
Misquotes / Mispricing
Abusive Trading Techniques
Internet, connectivity delays, and price feed errors sometimes create a situation where the price(s) displayed through the Services does not accurately reflect the market rates. The concept of using trading strategies aimed at exploiting errors in prices and/or concluding trades at off-market prices and/or by taking advantage of internet delays (commonly known as “arbitrage”, “sniping” or “scalping” hereinafter, collectively, referred to as “Arbitrage”). Plutux reserves the right, at our sole discretion, NOT to permit the abusive exploitation of Arbitrage through our Services/or in connection with our Services; any Transactions that rely on price latency arbitrage opportunities may be revoked, at our sole discretion and without prior notice being required.
Any indication or suspicion, determined at our sole discretion, of any form of arbitrage, abuse (including but not limited to participant's trading activity patterns that indicate that the participant solely aims to benefit financially without being genuinely interested in trading in the markets and/or taking market risk), fraud, manipulation, or any other forms of deceitful or fraudulent activity, will render all Transactions carried and/or profits or losses garnered as invalid. In these circumstances, we reserve the right to suspend (either temporarily or permanently) your account and cancel/or all Transactions.
Transactions through the Services are liable to the relevant Transaction Fee as set out on the Applications prior to entering into Transactions or placing Orders
By placing an Order you agree to pay the relevant “Transaction Fee”
Upon completion of a Transaction you agree that the applicable Transaction Fee may be automatically deducted from the Order at such rate as may be calculated by the Applications and the Transaction Fee shall be deducted from your Order. This will result in you receiving the net amount of the Order minus the Transaction Fee.
In this clause 12, “Plutux IP Rights” means in relation to Plutux, the Applications and Services, all: (i) patents, inventions, designs, copyright and related rights, database rights, knowhow and confidential information, trademarks and related goodwill, trade names (whether registered or unregistered), and rights to apply for registration; (ii) all other rights of a similar nature or having an equivalent effect anywhere in the world which currently exist or are recognised in the future; and (iii) all applications, extensions and renewals in relation to any such rights.
Except as expressly set out in these Terms, you are not entitled, for any purpose, to any Plutux IP Rights. We shall at all times retain ownership, including all rights, title and interests in and to the Plutux IP Rights and you understand and accept that by using the Services pursuant to these Terms you shall not:
acquire or otherwise be entitled to any Plutux IP Rights;
make a claim in respect of any Plutux IP Rights or any other equivalent rights; or
To the fullest extent permitted by applicable law, you will indemnify, defend and hold harmless Plutux and our respective past, present and future employees, officers, directors, contractors, consultants, equity holders, suppliers, vendors, service providers, parent companies, subsidiaries, affiliates, agents, representatives, predecessors, successors and assigns (the “Plutux Parties”) from and against any and all claims, demands, actions, damages, losses, costs and expenses (including reasonable professional and legal fees) that arise from or relate to:
your use of the Services and/or Applications under these Terms;
the performance or non-performance of your responsibilities or obligations under these Terms;
your breach of any of the terms and conditions set out in these Terms; or
Plutux reserves the right to exercise sole control over the defence, at your sole cost and expense, of any claim subject to an indemnity set out in clause 10.1.
To the fullest extent permitted by applicable law and except as otherwise specified in writing by us:
the Services and/or Applications are available on an “as is” and “as available” basis, without any warranties or representations of any kind, and we expressly disclaim all warranties and representations relating to the Services (whether express or implied), including, without limitation, any implied warranties of merchantability, fitness for a particular purpose, title and non-infringement;
we do not represent or warrant that the Services and/or Application is reliable, current or defect-free, meet your expectations, or that any defects will be corrected; and
Limitation of Liability
To the fullest extent permitted by applicable law, in no circumstances shall:
Plutux or any of the Plutux Parties (where applicable) be liable for any direct, indirect, special, incidental or consequential loss of any kind (including, but not limited to, loss of revenue, income, business or profits, loss of contract or depletion of goodwill, loss of anticipated savings, loss of use or data, or damages for business interruption or any like loss) arising out of or in any way related to the use of Services and/or the Applications or otherwise related to these Terms, regardless of the cause of action, whether based in contract, tort (including negligence), breach of statutory duty, restitution or any other legal or equitable basis (even if Plutux or any of the Plutux Parties have been advised of the possibility of such losses and regardless of whether such losses were foreseeable); and
the aggregate liability of Plutux and the Plutux Parties (jointly), whether in contract, tort (including negligence), breach of statutory duty, restitution or any other legal or equitable basis, arising out of or relating to these Terms or the use of or inability to use the Services, exceed £1,000 (one thousand pounds).
You are solely responsible for determining whether any action or Transaction contemplated by these Terms or related to the Services will give rise to any tax implications on your part.
As part of the registration process to become and Account Holder we may require you to provide Personal Data relating to (without limitation):
your email address;
your telephone number;
Dispute Resolution by Arbitration
PLEASE READ THE FOLLOWING CLAUSE CAREFULLY BECAUSE IT CONTAINS CERTAIN PROVISIONS, SUCH AS A BINDING ARBITRATION CLAUSE AND CLASS ACTION WAIVER, WHICH AFFECT YOUR LEGAL RIGHTS. THIS CLAUSE REQUIRES YOU TO ARBITRATE CERTAIN DISPUTES AND CLAIMS WITH PLUTUX AND LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF FROM US.
Binding Arbitration. Except for any disputes, claims, suits, actions, causes of action, demands or proceedings (collectively, “Disputes”) in which either Party seeks injunctive or other equitable relief for the alleged unlawful use of intellectual property, including, without limitation, copyrights, trademarks, trade names, logos, trade secrets or patents, you and Plutux (i) waive your and Plutux’s respective rights to have any and all Disputes arising from or related to these Terms resolved in a court, and (ii) waive your and Plutux’s respective rights to a jury trial. Instead, you and Plutux will arbitrate Disputes through binding arbitration (which is the referral of a Dispute to one or more persons charged with reviewing the Dispute and making a final and binding determination to resolve it instead of having the Dispute decided by a judge or jury in court).
No Class Arbitrations, Class Actions or Representative Actions. Any Dispute arising out of or related to these Terms is personal to you and Plutux and will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding. There will be no class arbitration or arbitration in which an individual attempt to resolve a Dispute as a representative of another individual or group of individuals. Further, a Dispute cannot be brought as a class or other type of representative action, whether within or outside of arbitration, or on behalf of any other individual or group of individuals.
Arbitration Rules. Any dispute arising out of or in connection with these Terms, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration under the rules of the London Court of International Arbitration (“LCIA Rules”), which are available at http://www.lcia.org/Dispute_Resolution_Services/lcia-arbitration-rules-2014.aspx and are deemed to be incorporated by reference in this clause 15. By agreeing to be bound by these Terms, you either (i) acknowledge and agree that you have read and understand the LCIA Rules, or (ii) waive your opportunity to read the LCIA Rules and any claim that the LCIA Rules are unfair or should not apply for any reason.
Notice: Informal Dispute Resolution. Each Party will notify the other Party in writing of any Dispute within thirty (30) days of the date it arises, so that the Parties can attempt in good faith to resolve the Dispute informally. Notice to Plutux shall be sent by e-mail to Plutux at [email protected]. Notice to you shall be sent to any address you provide to us in writing in a notice. Your notice must include (i) your name, postal address, email address and telephone number, (ii) a description in reasonable detail of the nature or basis of the Dispute, and (iii) the specific relief that you are seeking. If you and Plutux cannot agree how to resolve the Dispute within thirty (30) days after the date the notice is received by the applicable Party, then either you or Plutux may, as appropriate and in accordance with this clause 15, commence an arbitration proceeding or, to the extent specifically provided for in clause 15.1, file a claim in court.
Process. The seat, or legal place, of arbitration shall be Gibraltar. The arbitration will be conducted confidentially by a single arbitrator appointed in accordance with the LCIA Rules. The language to be used in the arbitration proceedings shall be English. The governing law of these Terms shall be the substantive law of Gibraltar and the Gibraltar court will have exclusive jurisdiction over any appeals and the enforcement of an arbitration decision.
Authority of Arbitrator. These Terms, the applicable LCIA Rules and the arbitrator will have (i) the exclusive authority and jurisdiction to make all procedural and substantive decisions regarding a Dispute, including the determination of whether a Dispute may be subject to arbitration, and (ii) the authority to grant any remedy that would otherwise be available in court, provided, however, that the arbitrator does not have the authority to conduct a class arbitration or a representative or class action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.
Neither Plutux nor any member of the Plutux Companies shall be liable or responsible to you, or be deemed to have breached these Terms, for any failure or delay in fulfilling or performing its obligations under these Terms, if and to the extent such failure or delay is caused by, results from or is otherwise connected to acts beyond its reasonable control, including, without limitation: (a) acts of God; (b) flood, fire, earthquake or explosion; (c) war, invasion, hostilities (whether war is declared or not), terrorist, hacking or cyber threats, attacks or acts, or other civil unrest; (d) any laws, statutes, ordinances, rules, regulations, judgments, injunctions, orders and decrees; or (e) action by any nation or government, state or other political subdivision thereof, any entity exercising legislative, regulatory, judicial or administrative functions of or pertaining to government, including, without limitation, any government authority, agency, department, board, commission or council.
We may amend these Terms from time to time, including where there are changes to the functionality of the Services or as may be otherwise required by any laws or regulatory requirements to which we are subject. If we make any amendments to these Terms, we will publish a notice together with the updated Terms on our website and we will change the “Last Updated” date at the top of these Terms. Any amended Terms shall become effective immediately upon the publication of a notice and the updated Terms on our website. It is your responsibility to regularly check our website for any such notices and updated Terms.
If any term, clause or provision of these Terms is found to be illegal, void or unenforceable (in whole or in part), then such term, clause or provision shall be severable from these Terms without affecting the validity or enforceability of any remaining part of that term, clause or provision, or any other term, clause or provision of these Terms, which shall remain in full force and effect.
These Terms constitute the entire agreement between the Parties in relation to its subject matter. These Terms replace and extinguish any and all prior agreements, draft agreements, arrangements, warranties, statements, assurances, representations and undertakings of any nature made by, or on behalf of the Parties, whether oral or written, public or private, in relation to that subject matter.
You acknowledge that by accepting these Terms, you have not relied on any oral or written statements, warranties, assurances, representations or undertakings which were or may have been made by or on behalf of Plutux in relation to the subject matter of these Terms at any time before your acceptance of them (“Pre-Contractual Statements”), other than those set out in these Terms. You hereby waive any and all rights and remedies which might otherwise be available in relation to such Pre-Contractual Statements.
Nothing in these Terms shall be deemed to create any form of partnership, joint venture or any other similar relationship between you and Plutux and/or other individuals or entities involved with the development and deployment of the Services.
Subject to clause 15, these Terms and any dispute or claim arising out of or in connection with their subject matter or formation (including non-contractual disputes and claims) shall be governed by and construed in accordance with Gibraltar Law.
Plutux may offer a link to other web application and mobile applications that are provided or controlled by third parties. Such link to an application or applications is neither an endorsement or an approval nor a sponsorship or an affiliation to such application, its owners or its suppliers. Plutux recommends you make sure you understand the risks associated with the use of such applications before retrieving, using or purchasing via the internet.
Links to these applications are provided solely for your convenience and you agree not to hold Plutux responsible for any loss or damage due to the use or reliance on any content, products or services available on other applications.
You may be asked to register or subscribe before viewing the content of external links; it is upon your discretion to do so. Plutux does not hold itself liable for the material of those links, and/or any exposure your data may be subject to if you decide to disclose personal information.
Your use of each of those third party applications is subject to the conditions, if any, that each of those applications has posted. Plutux have no control over applications that are not ours, and Plutux are not responsible for any changes to or content on them.
You can communicate for any reason, whether a complaint or not, with us by phone, email, or fax. Please note that our calls may be recorded so as to safeguard and protect your interests and for us to ensure the quality of our services. Plutux may, but are not obligated to, retain any communication with you.