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TERMS OF USE

INTRODUCTION

This legal agreement is an electronic record in terms of Indian Information Technology Act, 2000 and rules there under as applicable and the amended provisions about electronic records in various statutes as amended by the Indian Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

This legal document is published following the provisions of Rule 3 (1) of the Indian Information Technology (Intermediaries guidelines) Rules, 2011 and Rule 4 of the Information Technology (Reasonable security practices and procedures and sensitive personal data or information) Rules, 2011 of Information Technology Act, 2000 amended through Information Technology Amendment Act, 2008 that require publishing the terms of services and practices for access or usage of the Platform (hereinafter defined).

These User (hereinafter defined) terms and conditions (together with the documents referred to in it) (“Terms”) are the terms on which you may make use of our website https://www.wetrade.app and the associated mobile and software applications (either existing or available in the future) and our digital assets trading services (“Platform” ) whether as a guest or a registered user. Use of the Platform includes accessing, browsing, or registering to use the Platform.

]By using the Platform, you confirm that you accept these Terms and that you agree to comply with them. If you do not agree to these Terms, you must not use the Platform. If you do not agree with any amendments made by these Terms at any time in future, you must stop using the Platform with immediate effect.

ABOUT US

We are an online digital cryptocurrency exchange aggregation platform for crypto based currencies and assets, tokens or digital tokens collectively referred to as “Digital Assets”. The Platform provides access to an online digital assets exchange that currently facilitates:

  1. online trading of Digital Assets including sale and purchase (either using fiat currency or another form of Digital Asset);
  2. transfer of funds from a User’s Wallet into its Users Linked and Verified Bank Account and vice versa, and;
  3. online storage of the Digital Assets of the Users

(hereinafter collectively referred to as the “Services”).

We are mere aggregators and technology intermediaries between the Users and the various Digital Asset participants across the globe. We are neither the creator nor administrator of any Digital Asset.

DEFINITIONS AND INTERPRETATIONS

“Coin Wallet” means an online digital wallet accessible through the Platform and operated by a User for storage of its Digital Assets.

“Content” means any information, text, graphics, or other materials uploaded by the Company or the users, which appears on the Platform for other users to access.

**“Digital Assets”**refers to cryptocurrencies, crypto assets, digital tokens, and non-fungible tokens and any other form of blockchain based digital assets.

“Fiat Wallet” means an online digital wallet accessible through the Platform and operated by a User for the storage of the User’s fiat currency holdings.

“Force Majeure Events” means an unforeseeable event beyond the Company’s reasonable control, including but not limited to, acts of war; acts of God; earthquake; pandemic and its impacts, flood or extreme weather conditions; embargo; riot; sabotage; or terrorist acts, and change in law and governmental regulations.

“Linked and Verified Bank Account” refers to any bank account owned and operated by the User and held with a Scheduled Commercial Bank, whose details were provided by the User during the activation process as mentioned herein.

“User” shall mean the users of the Platform.

“User Account” shall mean the Users personal account created on the Platform for access of the Services

“Wallet(s)” refers to a User’s Coin Wallet and/or its Fiat Wallet, as the case may be.

Any reference to “you” or “your” or “user” refers to you as a user of the Platform and the Services and any reference to “we”, “our” and “us” shall refer to the Company, its subsidiaries, affiliated entities, permitted assigns (as and when applicable) as the provider of the Services.

REGISTRATION

If you choose to register with us through the Platform, an account will be created for your use on the Platform and you will be provided with required Account Information to enable your access to the User Account. In order to access any Services, you must activate your account (“User Account”) by following the identity verification process specified in the AML Policy. Failure to complete the User Account activation process as per the AML Policy will entitle the Company to terminate the said User Account.

The term “Account Information” refers to a password and such information which may be provided by you as part of our security and verification procedures. If you register on the Platform through any third-party website like Gmail etc. The login information of such a third-party account, as the case may be, shall be considered part of the Account Information.

You must always treat Account Information as confidential and must not disclose it to any third party. Any access to the Platform through your User Account shall be considered as access by you or on your behalf and you shall be solely responsible for any activity carried out in, by or through your User Account either on the Platform or any other website accessed by you through the Platform.

USER ACCOUNT

You represent, warrant and agree that:

  1. you are competent to contract.
  2. if you are an individual, that you are over eighteen years of age, or that you are registering on behalf of an entity, that you are authorized to enter into, and bind the entity to, these Terms and register for the Services, in accordance with the applicable laws
  3. your use of Services will not violate any laws and regulations applicable to you, including but not limited to our AML Policy, and applicable regulations on anti-money laundering, anticorruption, and counter-terrorist financing.
  4. If we change the eligibility criteria to be registered with the Platforms and you no longer comply with the new eligibility criteria, as determined by us in our sole discretion, you accept that we may close your User Account without any liability towards us. You are solely responsible for ensuring that you are in compliance with these Terms and with all laws, rules and regulations applicable to you. If your right to access the Services is revoked or use of the Services is in any way prohibited, in such circumstances, you agree not to use or access the Platforms or use the Services in any way.
  5. We have the right to disable your access to the User Account or any part of it, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these Terms, including without limitation the AML Policy.
  6. You hereby agree, acknowledge and grant your consent enabling us to retain any information provided by you for our compliance under applicable laws including but not limited to the Prevention of the Money Laundering Act, 2002 or the Prevention of Money Laundering (Maintenance of Records) Rules, 2005 as amended, modified/ reenacted from time to time and/ or any other guidelines/policies issued by government/ statutory authorities or any regulatory bodies in this regard. You shall not use the Services through by products of proceeds of crime. The Company reserves the right to verify the source of funds when you access the Services on the Platform.

If you know or suspect that anyone other than you know or has unauthorized access to your Account Information or any part of it, you must promptly notify us by sending us an email at hello@wetrade.app. We are not liable for any losses or other consequences of unauthorised use of your account.

WALLET

Upon activation of your User Account, we will provide you with the following kind of Wallets:

  1. Fiat Wallet
  2. Coin Wallet

(hereinafter collectively defined as “Wallets”)

These Wallets collectively enable you to purchase, send, receive or store Digital Assets supported by the Platform. You are required to maintain a minimum balance within your Wallets before you can initiate an order and/or a transaction.

We reserve the right to refuse to execute any order and/or transaction initiated by you, if they are in contravention to the AML Policy or to comply with directions of appropriate enforcement authorities.

You may deposit money into your Fiat Wallet from your Linked and Verified Bank Account. Conversely, you may withdraw money from your Fiat Wallet provided the same is remitted back to your Linked and Verified Bank Account only.

You are responsible for depositing and withdrawing the funds from your Fiat Wallet and it shall be your responsibility to disclose the proper source of funds. You declare that withdrawals and deposits by you in your Fiat Wallet do not constitute violation of any anti money laundering laws, rules and regulations of India. You shall indemnify and hold harmless us, our affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys’ fees, made by any third party or any government or regulatory or statutory body due to or arising out or relating to violation under relevant anti money laundering laws India.

You cannot withdraw Digital Assets from your Coin Wallet. You may buy and sell Digital Assets between the Fiat Wallet and the Coin Wallet. You are permitted to withdraw funds from the Coin Wallet only upon conversion of the Digital Assets held into the Coin Wallet into fiat currency i.e. INR. You are solely responsible for conversion of the Digital Assets into fiat currency. You understand that conversion of the Digital Assets into fiat currency may be incumbent upon many market conditions and fluctuations. We do not guarantee any assured return of funds upon such conversion.

We will process Wallet transactions according to your instructions from the User Account. You accept and agree that we do not guarantee the identity of any user, receiver, or other party to a Wallet transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to us.

You agree that Your Wallet is created/maintained/held within India.

The Wallet is unique to the Platform and you shall not have the opportunity to buy, sell, trade or transact funds held in the Wallets for goods and services outside the Platform. However, you may freely withdraw funds from your Fiat Wallet into your Linked and Verified Bank Account subject to applicable Transaction Fees (if any) and other applicable charges, and taxes.

You shall use only the Wallet assigned to You under Your User Account to avail the Services being provided by us and shall not use or try getting access to a Wallet or User Account belonging to any other third party at any point of time.

We may suspend the account, trading service, User Account, deposit, and withdrawals of monies / fiat currency from your Wallet or any other service extended by it due to unforeseen situations, change of law, force majeure maintenance or any other reason as it deems fit in its sole discretion and you acknowledge that your access to the funds/ Digital Assets/ User Account/ Wallet/ Services in case of such an instance may be limited or restricted or suspended, partially or fully. You accordingly understand and acknowledge that we shall have no liabilities or obligations arising from such events.

Any withdrawal requests from the Fiat Wallet will also be subject to the AML Policy and the User shall only be able to make a successful request from withdrawal from Fiat Wallet upon submission of all the necessary documents as required by us to establish and verify your identity and bank account.

You accept full responsibility for wrongful use of the Wallet and which is in contravention of these terms and conditions or any applicable law. You shall indemnify us to make good any loss, damage, interest or any other financial charges that We may incur and or suffer whether directly or indirectly due to any act or omissions resulting in any violations of these terms and conditions or any applicable law.

We reserve the absolute discretion and liberty to decline or honour the authorization request on the Wallet without assigning any reason thereto.

You understand that these terms and conditions shall be applicable to all transactions made through Platform including wallet transactions.

We reserve the right to block any person from making bank transfers if there are reasonable grounds to believe that the same is not in accordance with applicable law and/or it is suspicious that the User is misusing or fraudulently transacting. We shall report such suspicious activities to the concerned statutory/police departments.

FIAT WALLET

Fiat Wallet has been provided to store your fiat holdings. Funds held herein can only be used to purchase Digital Assets through the Platform and the fiat currency denominated sale proceeds of any Digital Assets will be credited into this Fiat Wallet, less the applicable Transaction Fee.

You are not entitled to any interest on the funds held in the Fiat Wallet.

In case you wish to acquire Digital Assets using fiat currency you will be required to transfer funds from your Linked and Verified Bank Account to your Fiat Wallet to purchase any Digital Assets. Your Fiat Wallet will reflect funds transferred to it within 3 working days of such transfer being initiated, subject to any delays in the relevant banking channels. As a principle you will not be allowed to transact on the Platform using funds that may be transferred from non-linked and unverified Bank Account. It is your sole responsibility to ensure that the funds in your Fiat Wallet are sourced from your Linked and Verified Bank Account. If the Company determines that the funds in your Fiat Wallet have been sourced from a non-linked and unverified Bank Account, the Company at its sole discretion may void any transactions that have been carried out using non-linked and unverified Bank Account Funds. Subsequently, the Company will refund the funds minus Transaction Fees and applicable charges.

You will indemnify and hold harmless the Company, its affiliates, and employees in this regard.

You may withdraw the funds held in your Fiat Wallet, by making a formal request to transfer such funds into the Linked and Verified Bank Account, through the Platform at any time (“Withdrawal Request”). We will endeavor to settle each Withdrawal Request within 3 working days of such request being made, subject to any delays in the relevant banking channels.

COIN WALLET

A Coin Wallet has been provided to you wherein Digital Assets may be stored.

Funds held in the Coin Wallet cannot be utilized to purchase Digital Assets offered on the Platform.

You are not permitted to withdraw Digital Assets from the Coin Wallet. In case you wish to withdraw funds from the Coin Wallet, you will be required to sell the funds therein and thereafter you will be permitted to withdraw the fiat currency from your Fiat Wallet.

You are not permitted to transfer, store or receive any virtual currencies not supported by our Platform. You acknowledge that the Company shall not be liable for any losses suffered by you in connection with your attempt Clause.

REPRESENTATIONS, COVENANTS, AND OBLIGATIONS OF THE USERS

These Terms govern your behavior on the Platform and set forth your obligations.

You agree, confirm, and represent the following:

  1. You shall comply with all the obligations set forth in these Terms, including without limitation the AML Policy.
  2. You will use the Services rendered by us for lawful purposes only and comply with these Terms and all applicable laws, statutes, by-laws, acts of legislature or parliament, rules, regulations, orders, ordinances, protocols, codes, guidelines, or policies of any governmental authority while using and transacting on the Platform.
  3. Creation and maintenance of all content in your User Account shall be your sole responsibility.
  4. You are responsible for safeguarding the password that you use as a part of your Account Information to access the Services and for any activities or actions under your User Account. We encourage you to use “strong” passwords preferably using a combination of uppercase and lowercase letters, numbers and symbols with your User Account. The Company will not be liable for any loss or damage arising from your failure to comply with this instruction. You acknowledge that you will irreversibly lose your Digital Assets if you delete your Account.
  5. You shall provide us with only such information (including without limitation identification documents submitted by you) that is true and accurate to the best of your knowledge.
  6. You shall not cancel any orders initiated but not executed on the platform. In case any order is partially executed, we may in our sole discretion permit cancellation of the unexecuted order. You acknowledge that all orders and/or transactions are irreversible once executed.
  7. You must maintain sufficient funds in your Wallets before initiating any order and/or transaction. In case you have insufficient funds in your Wallet then we will cancel the order or may refuse order placement.
  8. You understand that certain taxes may be applicable upon the trading of Digital Assets and you would be required to determine your tax liability under the applicable laws. You acknowledge that you’re solely responsible for payment of any taxes that may arise in connection with your use of Services.
  9. As the price of Digital Assets are volatile and subject to fluctuation, you acknowledge that the actual market rate at which an order and/or transaction is executed may vary.
  10. The Company may be required to suspend trading in cases of a force majeure event. You acknowledge that:
  11. your access to the Services and/or the funds during such periods may be limited or restricted; and
  12. the market conditions may differ significantly, following the completion of such Force Majeure Events.
  13. We do not control the underlying technology which governs the mining and/or creation of any Digital Assets. You acknowledge we do not exercise any control over the market price or circulation or volatility of the Digital Assets. The contract for sale and purchase of Digital Assets represent a bi-partite contract between the Company and the User. The said contract will be governed by these Terms, applicable policies and any other agreement that you may require to enter into with the Company. You undertake that you shall cooperate and execute such other agreements as may be required by the Company.
  14. It is illegal in all relevant jurisdictions (save where the proper licenses are obtained) to require a person to pay money, give something of value, or expend significant effort (in legal terms, “consideration”) to enter or participate in an activity or promotion in which he or she may win a prize if there is a significant degree of chance involved (e.g., a random drawing to determine winners) (“Illegal Gambling”). Accordingly, that prohibits the use of Platform or our Services for storing, sending, or receiving wagers or proceeds of Illegal Gambling. Proceeds derived from trading contracts for differences and spread bets on licensed and regulated platforms do not constitute Illegal Gambling or a violation of any gambling laws of India.

DISCLAIMER AND RISKS

Digital Assets are unregulated, not a legal tender and subject to market risks. All investments are subjected to price fluctuation risk. We do not guarantee any assured returns or profit.

Any content/ information/ data/ video/ articles ("Content") that you might see on the Platform is for informative purposes only. It is not intended as a substitute for investment/ financial advice. If you decide to act upon this information, you shall do it at your own risk. While such Content has been verified, it depends on third-party sources too, and we do not guarantee that there are no mistakes or errors nor do we represent the views presented in such Content to be its own

The value of any Digital Asset is very volatile and you may sustain a total loss of your funds; Due to the market being in a nascent stage, during a market disruption or during a force majeure event, you may face difficulties or impossibility in liquidating your position under certain market conditions.

Digital Assets are not backed by a central bank or any other financial regulator and as such there is no third party that may take any corrective action upon the occurrence of a global/regional crisis.

Since Digital Assets are held online, they are susceptible to security breaches and government crackdowns that may end up compromising the integrity or anonymity of the system that produces such Digital Assets.

You acknowledge that the aforementioned is a non-exhaustive statement of risks associated with the trade of Digital Assets and that there may be additional risks not listed or foreseen by the Company.

By creating a User Account, you acknowledge that you have carefully assessed your financial standing and risk tolerance and you confirm that the same is suitable for trading in Digital Assets.

You acknowledge that the aforementioned is a non-exhaustive statement of risks associated with the trade of Digital Assets and that there may be additional risks not listed or foreseen by the Company.

By creating a User Account, you acknowledge that you have carefully assessed your financial standing and risk tolerance and you confirm that the same is suitable for trading in Digital Assets.

You expressly acknowledge and agree that use of the Services and the Platform is at your sole risk.

The Services and the Platform are provided on an “as is” and “as available” basis. Although we make best efforts to provide high quality Services to all our users, to the fullest extent allowed by law, we expressly disclaim and waive all warranties and conditions of any kind, whether express or implied, including, but not limited to the warranties of merchantability, title, fitness for a particular purpose and/or non-infringement. The Platform may contain bugs, errors, problems, or other limitations.

We assume no liability or responsibility for any errors or omissions in Services and/or in Content.

We are not responsible for the Content on the Platform. We are not responsible for any direct or indirect damages or losses caused to you, including without limitation, lost profits, business interruption or other loss resulting from use of or reliance in any way on anything available on the Platform. It is solely your responsibility to evaluate the accuracy, reliability, completeness and usefulness of Content available on the Platform that is used by you.

We make no warranty that the Services or the Platform will meet your requirements or that the Services or your access to the Platform will be uninterrupted, timely, accurate or reliable; nor do we make any warranty as to the permanent availability of any information and/or that may be stored or transferred through the Services or the Platform.

TRANSACTION FEES

Creation of the User Account on the Platform and usage of the Platforms is free.

Buying and Selling on the Platform is subject to payment of a fee on each transaction executed (“Transaction Fee”). The Transaction Fee chargeable on each trade shall be in the range of 0.1% to 1% of the overall selling price or the purchase price of the Digital Assets as the case may be.

Deposit of Digital Assets in the Coin Wallet is free of charge subject to minimum quantities as determined by the Company during the transaction. Deposit of fiat currency in the Fiat Wallet through credit card, debit card, UPI, net banking or other payment means will be subject to a transaction fee depending upon the chosen payment method, and charges levied by our payment partners.

Fee applicable on withdrawal of fiat currency shall be determined by the Company from time to time subject to the charges it incurs.

INTELLECTUAL PROPERTY RIGHTS

Unless otherwise specified, all Content on the Platform is the property of the Company and are protected under copyright, trademark and other applicable laws.

All logos, trademarks, service marks and logos of the Company and others used on the Online Platforms, displayed on the website, (“Trademarks”) are the property of the Company and their respective owners. You may not copy, imitate or use them without our prior written consent.

Users shall not reverse engineer or disassemble any part of the Platform for any reason whatsoever. Any such action shall amount to a material breach of the Terms and may result in the Company terminating the defaulting users’ User Account.

The Platform may in places include third party intellectual property including the software used for creating or distributing Digital Assets. The Company does not own any rights to such third-party IP and is bound by the license terms for such IP and by virtue of these terms the Users shall also be bound by the said license terms.

TERMINATION OR SUSPENSION

You may terminate this agreement with the Company, at any time, following settlement of any pending transactions.

You agree that the Company may, by giving notice, in its sole discretion, restrict your access to the Platform; including without limitation, suspending or terminating the Service, prohibiting access to the Platform and its content, services and tools, delaying or removing hosted content, and taking technical and legal actions to keep you off the Platform if we, in our sole discretion, reasonably perceive that you are creating any problems, including without limitation, possible legal liabilities, infringement of the intellectual property rights, or acting inconsistently with the letter or spirit of these Terms.

We may, in appropriate circumstances and at our sole discretion, initiate the above actions for any reason, including without limitation:

  1. Attempts to gain unauthorized access to the Platform or providing assistance to others’ attempting to do so;
  2. Usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities;
  3. Violations of these Terms / Privacy Policy or other policies of the Platform.
  4. Failure to pay or fraudulent payment for transactions;
  5. Unexpected operational difficulties; or
  6. Upon the request of law enforcement or other government agencies.

The Company may terminate your User Account or your Wallets or suspend your access to the Services / Platform or any part thereof at any time and with immediate effect for any reason or no reason, in our sole discretion. We may decline to process any deposit (of Digital Assets / monies / User Account / Wallets) or any other service offered by us or any part thereof without any notice and may limit or suspend your use of one or more Services at any time, in our sole discretion. The Company may delay deposits or withdrawals if we believe the transaction is suspicious, may involve fraud or misconduct, violates applicable laws, or violates the terms of this Agreement or is otherwise required, in our sole and absolute discretion. You understand that the Company shall have no liability or responsibility for such termination / suspension or any losses arising therefrom.

If you have a balance remaining in the User Account / Wallet which has been suspended, we may freeze such balance for so long as the User Account / Service is suspended. If the User Account is terminated due to fraud, violation of law, or violation of this Agreement or other reasonable cause as determined by the Company we may, in our discretion, confiscate the balance remaining in User Account / Wallet and deliver it to any applicable government, law enforcement, or other authorities where circumstances warrant

Consequences of Termination: Upon termination of this Agreement or earlier determination, the rendering of the Services shall stand immediately terminated by the Company and the User shall not be entitled to access or avail the Platform. The Platform shall continue to retain your information and data as per its Privacy Policy to ensure compliance with its legal obligations, and for audit and recording purposes.

INDEMNITY

To the full extent permitted by applicable law, you hereby indemnify, defend and holdharmless the Company, and its affiliates, officers, directors, agents, employees, and suppliers against any Losses, action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred from your use of the Platform and/or Service / User Account / Wallet and/or from your violation of these Terms.

MODIFICATION OF TERMS

The Company reserves the right to change, add or remove or modify the Platform, the Service, the Terms, or any content or part thereof, at any time, with or without notice, in its sole discretion. The Company shall have no liability or responsibility whatsoever due to such changes, additions, removals and modifications, as the case may be.

CONTACT

If You have any questions relating to these Terms, Your rights and obligations arising from these Terms or Your use of the Platform and the Service, or any other matter, please contact us at hello@wetrade.app.

GOVERNING LAW AND DISPUTE RESOLUTION

This Agreement shall be governed by and construed in accordance with laws of India. Subject to the provisions pertaining to arbitration below, the Courts of Bangalore shall have exclusive jurisdiction in relation to matters arising out of or in connection with this Agreement.

Any dispute, controversy or claim (“Dispute”) arising out of or in connection with this Agreement, including without limitation, any question regarding its existence, validity, interpretation or termination, shall be referred to and finally resolved by arbitration to be conducted in accordance with the Arbitration and Conciliation Act, 1996, including any statutory amendments, re-enactment thereof from time to time (“Arbitration Act”).

There shall be a sole arbitrator to be jointly appointed by the Company and the User. If a sole arbitrator is not appointed within a period of thirty (30) days of reference of Dispute to arbitration then the arbitrator shall be appointed in accordance with the provisions of the Arbitration Act read with its rules.

The seat and venue of arbitration shall be in Bangalore, India.

All proceedings before the sole arbitrator shall be in English language. The arbitrator will at its sole discretion be at liberty to award reasonable costs and expenses (including legal fees) to the party that prevails on merit.

The arbitral award made and granted by the arbitrator shall be final and binding and may be used as a basis for judgment thereon in India or elsewhere.

When any dispute is under arbitration, except for the matters under dispute, the parties shall continue to exercise their remaining respective rights and fulfil their remaining respective obligations under this Agreement during the pendency of the arbitration proceedings.

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Office address

1781, 19th Main Rd, Vanganahalli

1st Sector, HSR Layout, Bengaluru

Karnataka 560034

Contact us : +91-8867828032

Registered address

A-61, Zonasha Paradiso, Alpine

Eco Road, Doddenekundi, Bengaluru

Karnataka 560048


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