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.
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.
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:
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:
**Note: The User can ask for the invoice of executed trade on Demand by Writing us at [email protected]
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:
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.
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.
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).
The use of the Website and the Service may entail multiple risks including but not limited to the following risks:
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.
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.
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.
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-
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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
A notice given under this clause will be deemed to be received: -
In this agreement the following terms, unless the context otherwise indicates, will have the following meanings: