INTRODUCTION
This User Agreement (this “Agreement”) sets forth the legally binding terms and conditions your access to and use of any websites, mobile sites, mobile applications, desktop applications, products or services (the “Services”) offered by ArthBit Private Limited (‘Company’), incorporated under the laws of India “Bharat” in MCA with Company CIN No.- U62099DL2023PTC412878 and having its registered office at (178/4, Patparganj Village, Delhi-110091) its owners, directors, investors, employees or other related parties, which owns and operate the “ArthBit Platform”. Where the context so permits and “ArthBit” (to the extent further described below) (“ArthBit,” “us,” “our,” and “we”). The “User” “you/your” shall refer to any natural person or entity and its authorized users that subscribes or uses the Services. Certain features of the Site may be subject to additional guidelines, terms, or rules, which will be posted on the Site in connection with such features. All such additional terms, guidelines, and rules are incorporated by reference into this Agreement.
By using any services made available through the ArthBit Platform or otherwise through any mode, the User agrees that the User has read, understood and accepted all the terms and conditions contained in this Terms of Use agreement as well as our Privacy Policy.As this is a legally binding contract, the User is cordially requested to carefully read through this agreement and related notices before using any of ArthBit’s Services. By registering, accessing or using ArthBit Platform, the User agrees to the terms and conditions set out in this Terms of Use, and our Privacy Policy. If any User disagrees with these Terms of Use or our Privacy Policy, the User shall not proceed to initiate account registration with ArthBit or seek to acquire any of its services.
You may not access or use the services or accept this agreement if you are not at least 18 years old. If you do not agree with all of the provisions of this agreement, do not access and/or use the site and ArthBit application.
SERVICES
The Service operated by Company in the name of ArthBit allows buyers (“Buyers”) and sellers (“Sellers”), to buy and sell digital assets (for more information on digital assets, please read about bitcoin first before to investing in digital assets or crypto currencies, for basics refer to http://www.bitcoin.org .
The Service provided ArthBit also allows all registered users of the Service (“Members”) to:
- transfer digital assets to other members or other users of digital assets outside the website,
- send and receive digital assets,
- buy and sell digital assets, and
- use digital assets for purchasing goods*
*It is possible that the laws in the country where the user resides (i.e., India “Bharat”) do not allow the usage of an online tool with the characteristics of digital assets or any of its features. ArthBit does not encourage the violation of any laws and cannot be held responsible for violation of such laws. It is your responsibility to follow the laws of your country of residence and/or country from which you access this Website and the Service. If you agree to and comply with these Terms of Use, ArthBit grants to you a personal, non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use the ArthBit platform and the Service.
TAXES
The sale and/or transfer of virtual digital assets—VDA, or Crypto will be subject to TDS, or tax deducted at source, at the rate of 1% or 5% as per the newly inserted Section 206AB and 206CCA in the Income-tax Act,1961 effective from 1st July 2022. ArthBit will deduct this amount and remit it to the tax authorities on your behalf.To ensure Transparency ArthBit will provide you with the following documentation:
- Transaction note/Tax invoice with the breakup of TDS and fees **
- Quarterly Form 16A certificate for better tax management
**Note: The User can ask for the invoice of executed trade on Demand by Writing us at [email protected]
COMMISSION/FEE
- Creation of User Account at ArthBit Platform is Free
- Trading on the ArthBit Platform is subject to payment of a Fee/Commission on each transaction executed/facilitated through the ArthBit Platform.
Fees Variations-
- General fees. You agree to pay ArthBit the fees set forth at our “ArthBit” website https://www.Arthbit.com/fees which may be updated from time to time in our sole discretion. Any such updated fees will apply prospectively to any trades or other transactions that take place following the effective date of such updated fees. You authorize ArthBit to remove any amounts from your Account for any applicable fees owed by you under this Agreement.
- Withdrawal / Send fees. You may be charged a fee to send or withdraw a Supported Cryptocurrency from your ArthBit wallet. We currently do not charge fees to deposit or receive Supported Cryptocurrency into your ArthBit wallet.
- Trading fees. ArthBit applies a flat fee structure for customers who trade Supported Cryptocurrency using the Services. Please consult the page set forth at https://www.Arthbit.com/fees for further information on applicable fees. ArthBit will, at the time of any transaction on the ArthBit Exchange, notify you of any fees that will apply to the transaction. By proceeding with any transaction, you accept and agree to the applicable fees. Such fees will also be displayed in your transaction history upon completion of the transaction.
- Contests. We may from time to time offer you the ability to participate in contests of skill (“Contest” or “Contests”). If you choose to participate in any Contests, you accept and agree to be bound and abide by the applicable Contest terms and conditions which will be published on the ArthBit website from time to time and incorporated herein by reference (the “Contest Terms”). ArthBit reserves the right to modify the Contest Terms or discontinue any contests at any time for any reason, including but not limited to product availability, pricing issues, reduced demand. Prizes, discounts and special pricing may be changed or substituted at any time without prior notice. Taxes on any prize or award are the sole responsibility of the recipient.
Note:
- Market: The total price communicated to the users on the Platform before confirming on the execution of a trade would be inclusive of the commission/fee charged by ArthBit, network and third-party fees, if any, excluding applicable taxes.
- Spot Market: The total price communicated to the users on the Platform before confirming on the execution of a trade would be Exclusive of the commission/fee charged by ArthBit, network and third-party fees, if any, and applicable taxes.
- Stake Market: The total price communicated to the users on the Platform before confirming on the execution of a trade would be inclusive of the commission/fee charged by ArthBit, network and third-party fees, if any, excluding applicable taxes.
IDENTITY VERIFICATION
With registration of a user Digital Asset Account on ArthBit, the user agrees to share personal information requested for the purposes of identity verification and other purposes permitted by applicable laws. This information is used specifically to identify the user and for the detection of potential money laundering, terrorist financing, fraud, and other financial crimes on the ArthBit Platform and to ensure that the User and his/her trades are fully compliant with the AML Regulations. ArthBit endeavours to retain and obtain this personal information in accordance with its Privacy Policy and applicable law. In addition to providing this information, to facilitate compliance with global industry and government standards for data retention, the user agrees to permit ArthBit to keep a record of such information for the lifetime of the User’s Digital Asset Account plus five (5) years after closing that account or the minimum period required by applicable law (India “Bharat”), whichever is later. The user also authorizes ArthBit to make inquiries, either directly or through third parties, that are deemed necessary to verify the user’s identity or to protect the user and/or ArthBit against financial crimes such as online fraud, etc.
All Users must register for a ArthBit user Asset Account before using the ArthBit Platform via our standard application procedure. To register for an account, the user must provide his or her real name, email address and such other requested information including KYC documents with due diligence in accordance with the AML regulations and FEMA guidelines (in case user is NRI)
The identity verification information which may be requested can generally include but not limited to:
- Full Name
- Email Address
- Nationality
- Telephone Number
- Government Issued ID/Passport
- Date of Birth
- Proof of address
- Bank account details
- Photographs and images
- Government Issued Tax Identification Number
In providing this required information, the user confirms that all such information is accurate and authentic. Post-registration, the user always guarantees that the information is truthful, complete, and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, ArthBit shall have the right to send you a notice to demand corrections, remove relevant information directly, suspend or terminate all or part of the ArthBit Services to the user. The user may only start trading with ArthBit on the ArthBit Platform after the initial transfer of funds is credited to the user's Asset Account and such transfer has been cleared. Depending on certain conditions and at its sole discretion, ArthBit may refuse to open an account for you for any reason whatsoever or without assigning any reason to the User.
YOUR WALLET
Upon activation of your User Account, ArthBit will provide you with a Fiat Wallet and a ArthBit Wallet. These Wallets enable you to Buy, sell, send, receive, or store Digital Assets supported by the Online Platforms. You are required to maintain a minimum balance of Funds in your Wallets before you initiate an order and/or transaction. ArthBit 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. Values indicated in your ArthBit Wallet are indicative only. This may fluctuate while placing a sell/buy order. Please Ensure Market Price before placing an order. ArthBit will not be responsible for your trading losses.
The ArthBit Wallet and Exchange
Supported Cryptocurrencies. The ArthBit wallet allows you to send, receive and store cryptocurrency (together, “Wallet Transactions”). The ArthBit wallet is only available with the cryptocurrencies that ArthBit, in its sole discretion, decides to support. Information about the Supported Cryptocurrencies can be found on the FAQ page on the ArthBit website. The Supported Cryptocurrencies may change from time to time. Under no circumstances should you attempt to carry out a ArthBit wallet Transaction with a cryptocurrency other than a Supported Cryptocurrency.
Transaction instructions. ArthBit will process Wallet Transactions according to your instructions. You accept and agree that ArthBit does not Guarantee the identity of any user, receiver, or other party to a ArthBit Wallet Transaction(s). You are solely responsible for ensuring all transaction details you submitted are correct, and you should carefully verify all transaction information before submitting transaction instructions to ArthBit or have any control over, or any liability about, the delivery, quality or any other aspect of any goods or services that you may buy from or sell to any third party. ArthBit shall not be responsible for, and will take no action about, ensuring that any buyer or seller you transact with using your ArthBit wallet completes the relevant transaction or has the requisite authority to do so.
eceiving cryptocurrency. You may receive Supported Cryptocurrency into your ArthBit wallet by providing the sender with a receive address generated in your ArthBit wallet. Your ArthBit wallet will only be credited with Supported Cryptocurrency sent to a receive address generated through your ArthBit wallet and associated with that Supported Cryptocurrency. For example, your ArthBit wallet will be credited with BTC when it is sent to an BTC receive address generated through your ArthBit wallet.
Sharing User Information. In the course of processing a Wallet Transactions, ArthBit may be required to share your user information with other contractual third parties, or as required under applicable laws or demanded upon a lawful request by any governmental authority. You hereby irrevocably grant full permission and authority for ArthBit to share this information with such contractual third parties, or as required under applicable laws or demanded upon a lawful request by any governmental authority, and release ArthBit from any liability, error, mistake, or negligence related thereto.
Trade Corrections. You acknowledge and agree that ArthBit may correct, reverse or cancel, in its sole discretion, any order, trade, transfer, or other transaction or activity with respect to which ArthBit has discovered that there was an error or abnormality, whether such error or abnormality was caused by you, ArthBit or a third party or due to technical issues, system issues, software failure or otherwise. ArthBit provides no guarantee or warranty that any such attempt will be successful and will have no responsibility or liability for such error(s) or any correction attempt(s).
RISKS
The use of the Website and the Service may entail multiple risks including but not limited to the following risks:
- Digital Asset transactions are technically irreversible once it hits the network. The digital Assets you buy will be sent to your ArthBit wallet or to your own digital Asset address provided. If you lose or delete your own digital Asset wallet, you will lose your digital Asset in it and the same cannot be restored. The digital asset wallet address provided to you by ArthBit is only a way for you to deposit or accept digital assets into your ArthBit wallet. The owner of these digital asset wallet addresses will be ArthBit and the outgoing transactions from these digital asset wallet addresses will not be related to you or to your ArthBit account. When you send out digital asset from ArthBit wallet to other digital asset address, the “From” address for such digital asset transaction will be a temporary address and it will not be same as the digital asset wallet address provided to you. If there are any chances of reversals or pay-back for a digital asset transaction you initiated from ArthBit, it will be your responsibility to explicitly provide your digital asset address provided by ArthBit to receive such digital asset transaction payment. Any digital Asset that is not send to your ArthBit provided digital asset wallet address cannot be claimed to be from you. You also can neither request any reversals of such transactions nor request for the credit of those digital assets into the digital asset balance in your account at ArthBit.
- Digital asset value tends to fluctuate on a minute-to-minute basis, due to which there may be an increase or decrease in the value of the digital assets. Digital assets are subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling, or trading in digital assets.
- Digital asset is an as-yet autonomous and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or commodities and hence may be susceptible to risks not generally associated with government or central bank backed currencies.
- There is also the risk of loss of confidence in digital asset trading, which could collapse demand relative to supply. For example, confidence might collapse in digital assets because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also collapse because of technical problems, for instance, if the anonymity of the system is compromised, or if any entity is able to prevent any transactions from settling.
- ArthBit reserves the right to delist any coin or token. Our team of researchers periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes. Delisting of coins or currency pairs can be voluntary delisting. If the coin issuer decides on its own to delist the Coin and applies to ArthBit for delisting of its coin. It can be compulsory if ArthBit does Suo-motu as a penal measure in the interest of investors. For more info, just visit Privacy Policy section to read the listing/delisting policy available at ArthBit website.
There may be additional risks that ArthBit have not foreseen or identified in these Terms of Use. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling, or trading digital Assets. ArthBit uses its banking service providers only for the receipt of user money and making payments. Our banking service providers do not transfer digital assets, exchange digital assets, or provide any services in connection with digital assets.
LIMITED RIGHT TO USE
Unless otherwise specified, all Materials on this Website are the property of the Company and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.
The trademarks, service marks, and logos of ArthBit and others used in this Website (“Trademarks”) are the property of the Company and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to the Company. The Trademarks and Materials should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected, or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other website or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties.
MAINTAINING YOUR USER ACCOUNT
ArthBit platform is for your personal and non-commercial use only, for using ArthBit platform a user should be competent to contract under the Indian “Bhartiya” Contract Act (1872) and his/her conduct will not be in violation of the law, public interests, public ethics or other’s legitimate interests.
If the user is an individual he/she should be at least 18 years old and if the user is a body corporate, unincorporated association, trust or other legal structure, the user is validly existing in accordance with applicable law and regulations. The user should have obtained all necessary consents, licenses and authorisations and has full power and authority (in accordance with its constitutional and organisational documents, where relevant) to enter into this agreement and all transactions at ArthBit platform. Each user shall have one user asset account only with single KYC details. Multiple accounts for the same user shall not be allowed and blocked it forever.Withdrawal of High value transactions of amounts greater than INR 1,00,000/- (One lakh Indian Rupee “Bhartiya Rupee” “INR”) or its equivalent in any other Crypto/Digital Asset are Manually verified. So, users are requested to initiate such transactions i.e., value greater than or approx. 1,00,000/- one lakh INR during Working hours 11:00 AM to 7:00 PM IST. ArthBit shall not be liable in the case the value of your token increases or decreases during non-working hours. Crypto/Digital Assets worth less than 1,00,000 INR are Automatically Processed.
Withdrawal of High value transactions of amounts greater than INR 1,00,000/- (One lakh Indian Rupee “Bhartiya Rupee” “INR”) or its equivalent in any other Crypto/Digital Asset are Manually verified. So, users are requested to initiate such transactions i.e., value greater than or approx. 1,00,000/- one lakh INR during Working hours 11:00 AM to 7:00 PM IST. ArthBit shall not be liable in the case the value of your token increases or decreases during non-working hours. Crypto/Digital Assets worth less than 1,00,000 INR are Automatically Processed.
User Account-
New Account Creation. To use certain features of the Site, you must register for an account (“Sign Up”) and provide certain information about yourself as prompted by the account registration form. You represent and warrant that: (a) all required registration information you submit is truthful and accurate (b) you will maintain the accuracy of such information.
User Identity Verification. You agree to provide us with the information we request for identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the Services and your access to the Services may be altered as a result of information collected on an ongoing basis
User information. We request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic.
Agree to update. Always agree to updates this information and keep it current at all times. You authorize us to make the inquiries, whether directly or through third parties, that we consider appropriate, in our sole discretion, to verify your identity or protect you and/or us against fraud or other financial crimes, and to act we reasonably deem necessary based on the results of such inquiries.
Certain Restrictions. By using the Services, you represent and warrant that: (i) neither you nor any of your directors, officers, employees, agents, affiliates or representatives is an individual or an entity that is, or is owned or controlled by an individual or entity that is (a) currently the subject of any Sanctions, or (b) located, organized or resident in a Designated Jurisdiction (ii) you have complied in all material respects with all applicable laws relating to Sanctions, anti-terrorism, anti-corruption and Anti-Money Laundering and (iii) you have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws. For the purpose of this Agreement, “Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction “Sanction(s)” means any international economic sanction administered or enforced by the United States Government (including OFAC), the United Nations Security Council, the European Union or other relevant sanctions authority.
Responsibilities. You are responsible for maintaining the confidentiality of your Account login information and are fully responsible for all activities that occur under your Account. You agree to immediately notify ArthBit of any unauthorized use, or suspected unauthorized use of your Account or any other breach of security. ArthBit cannot and will not be liable for any loss or damage arising from your failure to comply with the above requirements.
Compliance. You are solely responsible for ensuring that your use of the Services complies with all laws, rules and regulations applicable to you and the right to access the Services is automatically revoked where use of the Services is prohibited or to the extent that the offering, sale or provision of the Services conflicts with any law, rule or regulation applicable to you.
Available Only Where Permitted by Law. The Services are only available in jurisdictions where they may be legally offered for sale. The Services are not available to “U.S. Persons,” as such term is defined under Regulation S promulgated under the Securities Act of 1933 or any other country where it is banned. By accessing or using the Site, you represent and warrant that you are not a U.S. Person or a citizen of a country where it is illegal or banned.
TERMINATION AND SUSPENSION
You may terminate this agreement with the Company, and close your User Account at any time, following settlement of any pending transactions. You agree that Company may, by giving notice, in its sole discretion, terminate your access to the Website and to your Account; including without limitation, suspending or terminating the Service and Members’ Accounts, prohibiting access to the Website and its content, services and tools, delaying or removing hosted content, and taking technical and legal actions to keep Members off the ArthBit Website if it is reasonably perceive that such Members 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 of Use.
ArthBit reserves the right to suspend, block, cancel or reverse a transaction and/or refuse to continue providing you with access to the Online Platforms are (even if even after funds have been debited from your User Account) if ArthBit discovers that you are:
(a) incompetent to contract by virtue of your age or otherwise under these Terms or the applicable law and/or
(b) in breach of the Terms and applicable law.
Notwithstanding the above, ArthBit may, in appropriate circumstances and at our sole discretion, suspend or terminate Accounts of Members for any reason, including without limitation-
(1) attempts to gain unauthorized access to the Website or another Member’s account or providing assistance to others’ attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by ArthBit, acting in its sole discretion.
ArthBit also reserves the right to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Website or Service. Members agree that ArthBit will not be liable to them or to any third party for termination of their Account or access to the Website. You hereby agree that the suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members will receive any monies owed to them via their registered bank account with ArthBit.
ASSIGNMENT OF RIGHTS
You acknowledge and agree that the Company can freely assign these Terms of Use or any of its rights under these Terms of Use to any person without your consent. You shall not assign or transfer any right or obligation that has accrued to you under these Terms, and any attempt by you to assign or transfer such rights and obligations, shall be null and void.
AVAILABILITY OF SERVICES
ArthBit make no warranty that the Services or the Online Platforms will meet your requirements or that the Services or your access to the Online Platforms will be uninterrupted, timely, accurate, or reliable; nor does ArthBit make any warranty as to the permanent availability of any information and/or that may be stored or transferred through the Services or the Online Platforms. In case there is any defect in any software being used for the provision of the Services, ArthBit does not make any warranty that defects in such software will be corrected.
ArthBit shall use reasonable endeavour to ensure that the Website can normally be accessed by you in accordance with these Terms of Use. ArthBit may suspend use of the Website for maintenance and will make every effort to give you reasonable notice. You acknowledge that such notice, however, may not be possible in case of an emergency.
You understand and agree that any material and/or data downloaded or otherwise obtained through use of the Services or Online Platforms is done at your own discretion and risk and you will be solely responsible for any damage to your computer system or loss of data that results from the download of such material or data. In case you store or transfer any information and/or data through the Services or the Online Platforms, you are strongly advised to make back-up duplicate copies and are solely responsible for any loss.
EXTERNAL WEBSITES
The Website may provide links or other forms of reference to other websites (“External Websites”) or resources over which we may not have control. You acknowledge that ArthBit is providing any such links or references of External Websites or resources to you only as a convenience and that ArthBit makes no representations whatsoever about any External Websites which you may access through this Website, including such External Websites being free of such items as viruses, worms, Trojan horses, and other items of a destructive nature.
ArthBit is not responsible for the availability of, and content provided on any External Websites.
You are requested to review the policies posted by such External Websites regarding privacy and other topics before use. ArthBit is not responsible for third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.
Now, always read out websites, apps etc Third-Party’s Products and Services for interactions too.
Third-Party Products and Services
- Third-Party Services. You acknowledge that the Service will enable or assist you to access, interact with, and/or purchase services from several supported platforms and other third parties via third-party websites or applications (collectively, “Third-Party Services”). Such Third-Party Services are not under the control of ArthBit, ArthBit does not review, approve, monitor, endorse, warrant, or make any representations with respect to Third-Party Services and is not responsible for any Third-Party Services.
- You use all Third-Party Services at your own risk and should apply a suitable level of caution and discretion in doing so. Any use of Third-Party Services is governed solely by the terms and conditions of such Third-Party Services and any contract entered into, or any transaction completed via any Third-Party Services is between you and the relevant third party, and not with ArthBit.
- You shall comply in all respects with all applicable terms of the Third-Party Services that you access or subscribe to in connection with the Services. If at any time any Third-Party Services cease to make their programs available to us on reasonable terms, we may cease to provide such features to you without entitling you to refund, credit, or other compensation.
- Other Users. We do not guarantee the identity of any User or other party or ensure that a buyer or seller is authorized to complete a transaction or will complete a transaction. Your interactions with other Users are solely between you and such Users. You agree that ArthBit will not be responsible for any loss or damage incurred as the result of any such interactions. If there is a dispute between you and any User, we are under no obligation to become involved.
- Note Release. You hereby release and forever discharge ArthBit (and our officers, employees, agents, successors, and assigns) from, and hereby waive and relinquish, every past, present and future dispute, claim, controversy, demand, right, obligation, liability, action and cause of action of every kind and nature (including personal injuries, death, and property damage), that has arisen or arises directly or indirectly out of, or that relates directly or indirectly to, the Services (including any interactions with, or act or omission of, other Users or any Third-Party Products and Services).
FINANCIAL ADVICE
FINANCIAL REGULATION
Our business model, and our Service, consists of facilitating the buying, selling, sending, and receiving of digital assets which is an unregulated yet responsible, international open payment system. The Service provided is currently unregulated within India “Bharat.”
Email messages sent over the Internet are not always secure and ArthBit is not responsible for any damages incurred by the result of sending email messages over the Internet. It is recommended to submit sensitive information by using the form provided in the URL https://www.arthbit.com/contact where the information passes under the security layer and is encrypted.
COMPLIANCE
You are solely responsible for ensuring that your use of the Services is in compliance with all laws, rules and regulations applicable to you and the right to access the Services is automatically revoked where use of the Services is prohibited or to the extent that the offering, sale or provision of the Services conflicts with any law, rule or regulation applicable to you.
All users of the ArthBit Platform and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. ArthBit maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the user account and user fiat which are flagged or investigated by legal mandate.
COMPLAINTS
If the user has any complaints, feedback or questions, the user shall contact us by using the form provided in the URL https://www.arthbit.com/contact and ArthBit shall make our best efforts to resolve the issue with expediency. ArthBit shall not provide any support services to walk-in users.
DISPUTE, GOVERNING LAW AND JURISDICTION
This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Terms of Use, including the construction, validity, performance, or termination thereunder shall be governed and construed in accordance with Indian “Bhartiya” laws. The parties agree to irrevocably submit to the exclusive jurisdiction of the Courts in Delhi (Uttar Pradesh) for the resolution of any disputes arising from these Terms of Use. ArthBit may also consider Arbitration as the appropriate mechanism for dispute resolution and arbitration proceedings shall be governed by Arbitration and Conciliation Act 1996 and rules framed there under and any amendment, modification, statutory enactment thereto from time to time. All proceedings shall be conducted in English language and any award or awards shall be rendered in English. The seat and venue of such arbitration shall be Delhi and no objection shall be entertained from any parties in this regard.
LIMITATION OF LIABILITY
Users of this website are responsible for their actions in connection with the use of the Website, Service, and their Accounts. Users are also responsible for protecting access information to the Website including, but not limited to, usernames, passwords, and bank account details. ArthBit is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to the Website. Some deposits and withdrawal methods require ArthBit to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that ArthBit can use these information to facilitate deposits and withdrawals.
The parties agree that in no event shall ArthBit or its affiliates, officers, directors, agents, employees, and suppliers be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with the use of our Website, Service, or these Terms of Use.
In case the applicable laws do not permit the limitation or exclusion of damages as described above, our aggregate liability (including the liability of our affiliates, officers, directors, agents, employees, and suppliers)in respect of claims based on events arising out of or in connection with any single member’s use of the Website, whether in contract or tort or otherwise, shall in no circumstances exceed the amount of the transaction(s) that are the subject of the claim less any amount of commission that may be due and payable in respect of such transaction(s).
Please note that all Services provided through the ArthBit Platforms are only for domestic and private use. You agree not to use the ArthBit Platforms for any commercial or business purposes without obtaining a legally valid license to do so in accordance with these Terms.
Notwithstanding anything to the contrary, ArthBit shall not be obligated to make any payment or take any other action under these Terms if it is believed to be in good faith that such action may constitute a violation, or contribute to any violation, of any applicable law and ArthBit shall not be liable to you for any claims, losses, or damages arising from our exercise of its right provided herein.
ArthBit will neither be liable for any loss caused to the User due to discontinuation of any crypto/digital asset that is being offered through the ArthBit platform nor for any discontinuation, alteration, suspension or termination of any part of the services offered at ArthBit Platform caused or occasioned by any Force Majeure event or any changes in applicable laws with respect to cryptocurrencies or digital assets.
ArthBit will not be liable for any breach of these Terms of Use, where the breach is due to abnormal and unforeseeable circumstances beyond ArthBit’s control, the consequences of which would have been unavoidable despite all effects to the contrary, nor is ArthBit liable where the breach is due to the application of mandatory legal requirements.
INDEMNITY
To the full extent permitted by applicable law, you hereby agree to indemnify and hold harmless ArthBit, and its affiliates, officers, directors, agents, employees, and suppliers against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred direct or indirectly arising out of or resulting from your use of the ArthBit platform or services offered by ArthBit platform, or from your violation of these Terms of Use.
FORCE MAJEURE
ArthBit Services are offered only on the digital domain, which is subject to risks including offensive attacks. ArthBit shall not be liable for any loss caused to the User’s account or the user fiat or crypto/digital asset accrued therein if the same arises due to any Force Majeure event, including commissions or omissions by third parties, forces of nature, offensive attacks on ArthBit servers or on the personal devices of the Users, changes in applicable law, or any loss caused by conditions or events beyond the reasonable control of ArthBit.
The above limitation on liability includes any Force Majeure event set out hereunder including acts of god; fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labour dispute, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond reasonable control of ArthBit; offensive attacks including virus attack (You should use your own virus protection software), hacking, denial of service attack or theft of the personal devices of the User resulting in loss to the account.
To the maximum extent permitted by law ArthBit shall not be liable for any loss caused to User due to a data breach of confidential information of the User, including of the User account details or User password, including when such breach has occurred due to the User sharing such details with third parties or due to the User’s failure to follow reasonable due diligence. ArthBit shall also not be liable or responsible for losses caused due to any disclosure by User of any User account details, including on account of a phishing attack or other third-party disruption.
MODIFICATION TO THESE TERMS AND SERVICES
The Terms may be amended at any time by amending this page. Please check this page from time to time to take notice of any changes made, as they are binding on you. Although you will be notified of any changes in advance through your Account inbox
If you do not agree with any part of these Terms or any amendments made to these Terms from time to time, please stop using the Online Platform and the Servicers with immediate effect. It has been further bringing to the kind notice that further continuation usage of the Website and Service following the posting of a notice of changes to the Terms implied and deemed that you have accepted and agreed to such changes, and that all subsequent transactions by you will be subject to the amended Terms of Use. It may be done individually or generally without prior notice that the services shall be changed, modified, limited, stopped or truncated; functionalities and features may be added or removed.
NOTICES
Unless these Terms of Use expressly state otherwise, a notice, consent, approval, waiver, or other communication (notice) in connection with this agreement must be in writing. A notice may be given by hand delivery, prepaid post, or by electronic message to the recipient’s physical address or email address as advised from time to time.
A notice given under this clause will be deemed to be received: -
- If hand delivered, at the time of delivery.
- If sent by prepaid post, three Business Days after the date of posting.
- If sent by electronic message to [email protected], when the sender receives an automated message confirming delivery or eight business hours after the message has been sent (as recorded on the device from which the sender sent the message) unless the sender receives an automated message that the electronic message was not delivered or the sender knows or reasonably should know that there is a network failure and accordingly knows or suspects that the electronic message was not delivered, unless a notice is received after 7.00 PM on a Business Day in the place of receipt or at any time on a non-Business Day, in which case, that notice is deemed to have been received at 11:00 AM on the next Business Day.
DEFINITIONS AND INTERPRETATION
In this agreement the following terms, unless the context otherwise indicates, will have the following meanings:
- AML Regulations means India “Bharat’s” Prevention of Money Laundering Act, 2002 and the Rules framed thereunder.
- AML Policy means the policies and programs maintained by ArthBit to comply with the AML Regulations, Available at https://www.ArthBit.com/privacy-policy
- Business Day means a day that is not a Sunday or Public holiday in Delhi, India “Bharat.”
- ArthBit Platform shall collectively mean and include ArthBit Android App, ArthBit iOS App (collectively, “ArthBit App”) or ArthBit Web app (“Web version”) and ArthBit website https://www.arthbit.com (“ArthBit Website”), ArthBit OTC Trading Platform (OTC desk ) and other web assets on the ArthBit.com domain, together with the ArthBit Developer Portal, Public APIs and secure authentication for Users.
- ArthBit Servicesor Services means the services made available from time to time on the ArthBit Platform.
- ArthBit Wallet means an online address accessible through the Online Platforms and operated by a User for storage of its Digital Assets
- Company means Arthbit Private Limited (company) having its “Registered Office” at (178/4, Patparganj Village, Delhi-110091) with “CIN No.- U62099DL2023PTC412878.”
- Competent Authority means the relevant government authority in India “Bharat,” as notified or may be notified, depending on the context.
- Content means any information, text, graphics, or other materials uploaded by the Company or the users, which appears on the Online Platforms for other users to access.
- Digital Assets refers to blockchain based Crypto Assets such as Bitcoins, Litecoin, Tron, Ethereum, Ripple, etc., as well as proprietary coins and tokens.
- Fiat Wallet means an online address accessible through the Online Platforms and operated by a User for the storage of the User’s fiat currency holdings.
- Funds refers to both Digital Assets and fiat currency, as the case may be.
- Force Majeure shall mean and include any cause arising from or attributable to acts, or events, beyond the reasonable control of ArthBit , including natural calamity, strikes, terrorist action or threat, civil commotion, riot, crowd disorder, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, structural damage, epidemic or other natural disaster, calamity, attacks including through computer viruses, hacking, denial of service attacks, ransomware or other manmade disruptions or any law, order enactment, statutory direction, legislation, regulation, rule or ruling of government or any court of law or of a Government or regulatory authority.
- KYC means “Know Your Customer” requirements as determined by ArthBit or under the AML Regulations.
- Linked 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.
- Privacy Policy means ArthBit’s privacy policy for India “Bharat” n customers Available at https://www.ArthBit.com/privacy-policy
- Cookies Policy means ArthBit’s cookies policy for India “Bharat” n customers Available at https://www.ArthBit.com/privacy-policy
- Coins Listing/Delisting Policy means ArthBit’s platform coins listing and delisting policy for India “Bharat” n customers Available at https://www.ArthBit.com/privacy-policy
- User or Customer shall mean persons availing of the ArthBit Services (as defined below), directly or indirectly, and are referred to herein as “Users.”
- TDS means an advance tax to establish a transaction trail, deducted at the time of trade execution, and can be adjusted against your total tax liability at the time of filing your annual income tax returns.