Terms and Conditions
By creating an account (“Account”), the Customer accepts and guarantees, that:
1. She or he agrees to the present Terms
2. She or he is at least 18 years or older and is legally fully eligible to accept these Terms
The Service reserves the right to modify or add these Terms at any time at its discretion. The Customer warrants to get to know all the amendments made to the present Terms and Conditions. If you continuously use the Website after the modifications are made this automatically means that you accept and agree to the changes. The Customer agrees, that all further transactions will be done in accordance to these Terms. The System gives a Customer a personal non-transferable limited right to log in and use the Website and the Platform in case the Customer agrees to the Terms and any such amendments to it.
After Customer accepts these Terms and amendments, the System begins to act as an intermediary between Buyers and Sellers for trading on the Platform according to the sub-clauses laid down below and to perform the functions listed below.
DEFINITIONSThe Platform is a technical, operational and institutional basis, managed by the System, to let the Buyers and Sellers to make deals in Cryptocurrencies.
Cryptocurrency is a type of digital currency, issued and accounted based on encryption and application of different cryptographic methods of protection, such as Proof-of-work (scheme of proof of the work fulfillment, when the work is difficult to make, but easy to check) or Proof-of-stake (scheme of proof of balance on the account, which is checked easily, but is expensive to store), as well as other methods. Such systems are functioning due to decentralisation, as its parts are distributed in different computer networks. “Seller” is a person who places a sell order for Cryptocurrency on the Platform.
“Buyer” is a person who a places a buy order for Cryptocurrency on the Platform.
“Customer” means Buyer and Seller, as well as any account holder.
“Transaction” means an agreement between the Buyer and the Seller to exchange Cryptocurrency using the Platform at a mutually agreed price.
“Price” is a price in conventional units, at which the Customer is ready to buy or sell Cryptocurrency using the Platform for transactions.
“Commission” is the fee paid to the System for transactions, including the reward to commission agent.
“Arbitrage“ is a stack of buy/sell transactions executed with the aim of earning a profit taking advantage of a price difference between the rates of Cryptocurrencies.
THE CUSTOMER’S ACCOUNTThe responsibility for the confidentiality of her or his account/username information, including the password and PIN code, and for other activities, involving operations with her or his account is reserved to a Customer. He or She must immediately inform the System in case of any unauthorized use of login or password, or any other breach of security. The Customer is responsible for losses of the System or of any other user of the Website which result from the actions of a third party using the Customer's password or login. The Customer can not use any account but her or his own. The Customer should not try to get unauthorized access to the Website, and any attempt to do so or to help other Customers or third parties to so this (including disclosure of manuals, software and tools for this purpose) will lead to a termination of service and loss of all the funds at the Customer’s account. In this case the System has the right to take any other measures against the Customer.
The Customers agrees to inform the System with accurate, current and comprehensive personal information as requested during the registration of account, and to update this information if this is needed.
The Customer is allowed to have only one account at a time and he or she can not use or create any other. Multiple accounts under the name of the same person would be blocked by the System without notice. If this rule is violated, the System has the right to unilaterally refuse service to the Customer. The funds remaining balance of the account would not be returned. All the claims concerning financial transactions should be filed within 30 days of the transaction completed. Claims are not accepted after this deadline. Orion.finance Exchange can provide data (orders, incoming/outgoing transactions) for the last 30 days only.
Customer accepts and agrees that the System can use internal controls and software programs to prevent money-laundering and to enforce its internal security policies. With the help of such programs and controls the System can collect and store any essential information about the Customer and her or his transactions, including personal data, provided during the registration or requested by the System during transactions, as well as some indirect information, including IP-addresses, operating systems, software configurations, and other information collected with the use of “cookies”.
The System can demand identification information depending on the amounts credited to the accounts or in case of any suspicious activity. The Customer agrees that if there are substantial grounds to believe that the Customer's account is used for money-laundering or for any other illegal activity, or, the account holder conceals or deliberately provides false identification information and other details, or, if there are solid reasons to believe, that the transactions effected via the Customer account violate the Terms, the System reserves the right to require from the Customer to provide any additional information and documents to clarify the circumstances. Transactions may be frozen until the documents are reviewed by the System and approved in accordance with the requirements of the legislation against legalization of proceeds of crime and financing of terrorism.
The System can ask the Customer for any additional identifying information and documents at any time at the request of any competent department or in case of enforcement of existing legislation or regulation of any country, including laws against money-laundering (legalization of the proceeds of crime), or counteracting financing of terrorism. In such a situation, if the Customer does not provide or provides incomplete or false information and documents, the System reserves the right to unilaterally refuse service to the Customer.
Accounts can be used exclusively for the purposes specified in these Terms.
If you do not use the Account for more than a year it will be blocked, the un-blocking is available through the Support service only. The account is considered inactive if the holder has not visited it for the last year or longer. After two years of being inactive the accounts should be terminated.
TRADING PLATFORMThe Platform lets the Buyer post offers for purchase of Cryptocurrency, and let the Seller post offers for sale of Cryptocurrency. The price of buy or sell of Cryptocurrency is set by the Customer at his or her own discretion. The Customer accepts that her or his offers must be submitted only after careful consideration, and after having submitted the offers, the Customer, shall be considered as available for sale or purchase of Cryptocurrency to the other Customers. The Seller and the Buyer agree, that the transaction is binding and cannot be revoked once their offers match. The transaction for a purchase of Cryptocurrency shall be completed instantly and without notice to the Seller and the Buyer, and should be considered as effected at the moment when it was actually executed.
Being a Buyer or a Seller in a transaction for sale or purchase of Cryptocurrency, the Customer accepts, that she or he doesn’t have the right to cancel the offer after the prices matched and the transaction was automatically executed.
The System gets an exclusive right to execute the transaction in the amount corresponding to the price specified in the transaction, net of commission fee right after the Buyer’s and the Seller’s offers match.
The funds contributed by the Customer as bets in the game or as fee for voting in favor of certain coins in the ballot are final and non-refundable in any case.
If the funds deposit is arranged against the current rules, specified in the deposit forms of each cryptocurrency or fiat money, the funds are considered as lost irrevocably and are non-refundable.
If the funds withdrawal is arranged against the current rules specified in the withdrawal forms of each cryptocurrency or fiat money, or sent to the wrong addresses, including non-existent or invalid addresses, the funds are considered irrevocably lost and not subject to compensation. If the funds deposit and withdrawals, sent through API, are arranged against the rules of deposit and withdrawals, specified in the appropriate forms of deposit and withdrawal, the funds are considered irrevocably lost and not subject to compensation. Before using the API the Customer must review the rules of deposit and withdrawal of the relevant asset.
RESPONSIBILITIES OF THE SYSTEMThe Customer acknowledges and agrees that in effecting transactions she/he is trading with other Customers, and acknowledges that the Service acts solely as an intermediary in such transactions, not a counterparty. Consequently, Customer bears full responsibility for compliance with all laws and regulations related to the transactions.
The Service represents and warrants, that:
By effecting transactions the Customer agrees and accepts that she or he is trading with other Customers, and that the System is not a counterparty but only an intermediary. In consequence, Customer is fully responsible for following all laws and regulations related to the transactions.
The System states and guarantees, that:
1. System will make all the reasonable efforts to facilitate and ensure effective transactions between the Customers.
2. All Sell and Buy transactions effected on the Platform will be posted anonymously, i.e. so that the Buyer and Seller remain unknown to each other.
3. Transaction price will be based on the actual relevant offers made by the Customers and shall include the necessary commission fees.
4. Once the offers for sale and buy of Cryptocurrency match, they may not be revoked.
5. the System will store all funds of the Customer on his or her behalf, including Cryptocurrency, deposited by the Customer into his or her account, according to the details specified in the profile of the Customer.
6. To use the System you are obliged to act in terms of all the legal and regulatory provisions applicable to the Platform.
If the Customer violates any of the dispositions of the present Terms, the System has the right to terminate the Customer’s account and block all funds, including Cryptocurrency.
The Platform is not responsible for providing any legal, tax, insurance or investment advice. The history of offers (bids) and trades are available only to provide Customers with general information about the transactions executed on the Platform, and should not be considered as investment advice or recommendations from the System. The Customer is solely responsible for determining the fact that a conceived transaction is appropriate based on her or his personal objectives, financial position and affordable risks.
THE CUSTOMER’S RESPONSIBILITIESWhen using the Platform the Customer warrants that she or he will solely effect transactions according to the terms and conditions set out in these Terms and that she or he reserves the right and opportunity to trade on the Platform.
The Seller guarantees that Cryptocurrency offered for sale or transfer, indeed represent the actual Cryptocurrency.
The Buyer guarantees that the funds used for Cryptocurrency purchase are relevant to the Buyer’s actual assets and come from legitimate sources.
The Customer warrants not to use the Trading platform for any type of illegal activities, including laundering of money, financing of terrorism, or any kind of operations producing a negative effect on the efficiency of the functioning of the Trading Platform.
The Customer accepts that she or he must check all Orion Platform newsletters to get the latest update on the assets listing/disabling/de-listing, as well as on any other relevant information; if the Customer doesn’t get an update on time, he or she doesn’t have the right to lodge compensation claims against the Platform for the losses resulting from this lack of information.
If the Customer needs to keep a few thousand open orders at a time, she or he accepts that he is obliged to inform the Service Support center, indicating the reason for doing that.
If the Customer has opened orders that are completely out of market (i.e. deviation from the current market price more than 10 times), or if the number of these orders is excessively large, the Customer accepts that the System reserves the right to cancel them, because the said-above orders are considered as dust orders and might be misleading for other Customers of the Trading platform.
With no matter when the transaction is made, the Customer accepts, that the Platform sends and receives funds, Cryptocurrency (s) included, on behalf of the Buyer and on behalf of the Seller, through IT systems used by the Platform at the time of the transaction's execution.
The Platform is made for trade and /or exchange of cryptocurrencies transactions. It is prohibited to transfer the cryptocurrency funds or fiat money through the Platform directly without trade. The breach of this rule will result in the account termination without refunding of the remaining balance of the account.
The Customer warrants not to disclose any information, received from the System support operator, in any channels of communication. In case of violation of this rule the account will be terminated without refunding of the remaining balance of the account.
The Customer accepts, that when using the System it is an obligatory to monitor the newsfeed, published at the relevant section of the Website, or in social networks or other public accounts of the System. The Customer accepts that he or she is solely responsible for any losses of funds, resulted from neglect of the System notifications or recommendations.
The Customer agrees, that before making claims to Orion Service and/or creating a ticket to the Support service he/she has to proceed to the account verification procedure. The Customer accepts and agrees, that any claims and requests are processed through Support service via tickets in the Customer's account; requests for access recovery should be submitted only to the following e-mail: [email protected] The Customer accepts and agrees, that his/her claims and requests would be handled only if submitted to an official e-mail address or via ticket in the Customer's account; claims or requests submitted in forums, social networks or other public sources would be neglected.
INTELLECTUAL PROPERTYThe System and the Platform partners are the sole owners of all the rights of intellectual property, including copyright for texts, graphic images or any other material posted on the Platform. According to this, the Customer should not copy, distribute, reproduce, republish, upload, transmit, modify, publish or otherwise use any such content.
LIABILITYThe Customer guarantees, that she or he is the rightful owner and is entitled to use all funds, including Cryptocurrencies, deposited in her or his accounts, and that the transactions effected do not violate the rights of any third party or the applicable law. The Customer agrees to refund to the System all losses incurred by abuse of rights of the third parties or by violation of law through the fault of the Customer.
The System is not responsible for any losses, including loss of profits, loss of revenue, loss of business, loss of data, direct or indirect damage sustained by the Customer if the damage is not a result of the Terms violation by the System.
The System is not responsible for malfunction, damage, delay or interruption of access to the Internet, or, if for any reason the Website is unavailable at any time or for a specific period. The Website may contain links to other websites provided by third parties, but these links are provided as source of information only. We do not control the content of these websites or resources, and have no responsibility for them or for any loss or damage which may result from their use. The System’s domain name is Orion.finance, and it is not responsible for the websites located on any other domains.
The System will provide all necessary information, including names, addresses and other data requested, to the relevant authorities in charge of suppression of fraud and violations of law in case of fraud or any other illegal activity. The Customer accepts that her or his account may be suspended at any time through a request of any competent authority.
The System is not responsible for losses resulted from vulnerability or any kind of failure of software (nodes, wallets) used by the third parties, or glitch in the software (nodes, wallets), provided by the third parties, as well as failure of blockchains or any other technical problems specific of Cryptocurrencies traded at the Platform. The System is not liable for damages due to late report from cryptocurrency developers or representatives (or no report at all) of any issues with cryptocurrency including all sorts of forks, node technical issues or any other issues potentially resulting in fund losses. In this case there are two options of compensation for losses. The main option for which the System is making all efforts to enforce – is to induce cryptocurrency developers or representatives to compensate for the losses. The other option is to write-off relevant amounts from the Customers’ accounts in proportion to their deposited amounts of this particular cryptocurrency at the Platform.
Nothing in these Terms affects the legal rights of the Customers.
Nothing in these Terms excludes or limits liability of either party for fraud, death or personal injury caused by negligence, violation of laws, or any other activity that cannot be limited or excluded by legitimate means.
According to what is written above, the total liability of the System that may result from or in connection with use of the Website and/or Platform by the Customer, civil offence (including negligence) or otherwise, under any circumstances should not exceed the greater of the total balance of the account of the Customer (less any commission fees); or 100% of the transaction (s) that is subject of the claim minus commission fees.
TERMINATIONThe System may frozen or modify the Platform and / or revise or terminate the present Terms at any time with due notification to the Customers. The using of the Platform after such a notification is considered as consent and acceptance of these changes or termination. All the financial claims should be filed within 10 days after the revisions or amendments to the present Terms came into effect. In case the Customer doesn’t with these Terms, she or he may close her or his account at any time.
The Customer agrees, that the System may, suspend the Customer's access to the Website, including, but not limited to: restriction, frozenning or termination of the account, a limitation of access to the Website and to its contents and termination of providing any services at its sole discretion. In case the System believes that the Customer is causing problems and poses legal challenges, abuses intellectual property rights of third parties, or her or his actions violate the present Terms, it may take technical and legal measures to prevent the Customer’s access to the Website. Also, we may, under certain circumstances and at our discretion, stop the Customer’s account for other reasons, including, but not limited to:
(1) Attempt to get unauthorized access to the Website or the account of another Customer or to help others to so,
(2) Attempt to break the software security features made to limit the usage or protect some content,
(3) Use of the Platform for any illegal activities, including legalizing the proceeds of criminal activities, or financing of terrorism or other illegal activities,
(4) Violation of these Terms,
(5) Unexpected operational difficulties
(6) Enquiries from law enforcement agencies or other government institutions
(7) Active arbitrage (over 100 transactions) in a short period of time (during 24 hours), made to affect the market, or induce artificial increase of trading volume in particular this or that trading pair or out of other ill-intentioned commitments.
(8) Use of offensive language towards the System or the System staff, either in private, or in public.
(9)Threats to Support operators
The System also reserves the right to unilaterally change or suspend the Website or the Platform, stop providing services to the Customer without explaining specific reasons. The Customer agrees that the System will not be liable to the Customer or any third party for termination of servicing their accounts or for the Website being inaccessible.
If the System finds it necessary for servicing of the accounts, for effecting transactions, for operations and/or the Platform functioning, the Customer accepts and agrees that her or his accounts can be blocked until her/his ID documents and/or any other information are provided to the System.