Terms & Conditions

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Terms Of Use

Thank you for choosing Binax.io (the "Platform"). The following terms and conditions of service (these "Terms of Service") apply to users of the Platform. You should read these Terms of Service carefully to determine which provisions apply to you. These Terms of Service should be read in conjunction with the Privacy Policy and the Cookies Policy. By using any of the services, functions, or features offered from time to time on the Platform (collectively or individually, the "Services"), the user (referred to herein as "you" or "your") agrees to these Terms of Service (each of you and one of the following entities named in (a) or (b) being a "Party" and collectively, the "Parties"). This agreement is made by between you and operator of Binax and has the legal effect as a legal contract. The operator of Binax means the legal entity that, recognized by law, operates the networking platform. Please refer to the company and license information at the bottom of the website of Binax for the information regarding the operator of Binax. The operator of Binax may be referred to, individually or collectively, as “Binax Ltd” in this agreement. “Binax” means the networking platform operated by Binax, including but not limited to the Binax website, with the domain name of Binax.io, https://www.Binax.io, which is encrypted.

1. Agreement and Execution

The content of this agreement includes main body of this agreement and various rules that have been posted or may be posted from time to time by Binax. All of the rules shall be an integral part of this agreement, and shall have the same legal effect as the main body of this agreement. Unless otherwise expressly provided, any service provided by Binax and its affiliates (hereinafter referred as “Binax Service”) shall be bound by this agreement. You shall carefully read through this agreement before using any Binax Service, and pay close attention to the content written in bold font. You may consult Binax if you have any question with regard to this agreement. However, regardless whether you have carefully read through this agreement before using Binax Service, you shall be bound by this agreement as long as you use Binax Service. You shall not claim to void or rescind this agreement on the ground that you did not read this agreement or you did not receive any respond from Binax to your consultation. You hereby promise to accept and observe this agreement. If you do not agree to this agreement, you shall immediately stop registration/activation or stop using Binax Service. Binax may make or amend this agreement and various rules from time to time as needed, and announce the same on the website, without any individual notice to you. The amended agreement and rules shall come into effect immediately and automatically upon being announced on the website. If you do not agree to the relevant amendment, you shall immediately stop using Binax Service. If you continue using Binax Service, you shall be deemed as having accepted the amended agreement and rules.

2. Registration and Account

i. Eligibility of Registrants

You hereby confirm that you are an individual, legal person or other organization with full capacity for civil rights and civil conducts when you complete the registration or actually use Binax Service in any other way allowed by Binax. If you do not have the said capacity, you and your guardian shall undertake all the consequences resulted therefrom, and Binax shall have the right to cancel or permanently freeze your account, and claims against you and your guardian for compensation.

ii. Registration and Account

You shall be bound by this agreement once you have filled in information, read and agreed to this agreement and completed the registration process following the instructions on the registration page or you have filled information, read and agreed to this agreement and completed the activation process following the instructions on the activation page, or upon your actual use of Binax Service in a way permitted by Binax. You may log in Binax by your email address or mobile number that you have provided or confirmed or any other means permitted by Binax. You must provide your real name, ID type, ID number and other information required by the laws and regulations. If any information you have provided during the registration is inaccurate, Binax will not take any responsibility and any loss, direct or indirect, and adverse consequence resulted therefrom will be borne by you. Binax accounts can only be used by the person whose name they are registered under. Binax reserves the right to suspend, freeze, or cancel accounts that are used by persons other than the persons whose names the accounts are registered under. Binax will also not take legal responsibility for these accounts.

iii. User’s Information

During the registration or activation, you shall accurately provide and timely update your information by following the instructions on the relevant page according to the laws and regulations in order to make it truthful, timely, complete and accurate. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Binax shall have the right to send you a notice to make enquiry and demand corrections, remove relevant information directly and, as the case may be, terminate all or part of Binax Service to you. Binax will not take any responsibility and any loss, direct or indirect, and adverse consequence resulted therefrom will be borne by you. You shall accurately fill in and timely update your email address, telephone number, contact address, postal code and other contact information so that Binax or any other user will be able to effectively contact you. You shall be solely and fully responsible for any loss or extra expenses incurred during the use of Binax Service by you if you cannot be contacted through these contact information. You hereby acknowledge and agree that you have the obligation to keep your contact information effective and to take actions as required by Binax if there is any change or update.

iv. Account Security

You shall be solely responsible for the safekeeping of your Binax account and password on your own, and you shall be responsible for all activities under your log-in email, Binax account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement or online purchase of services, etc.). You hereby agree that: a) you will notify Binax immediately if you are aware of any unauthorized use of your Binax account and password by any person or any other violations to the security rules; b) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and c) you will log out the website by taking proper steps at the end of every visit. Binax shall not and will not be responsible for any loss caused by your failure to comply with this provision. You understand that Binax needs reasonable time to take actions upon your request, and Binax will not undertake any responsibility for the consequences (including but not limited to any of your loss) that have occurred prior to such actions.

3. Binax Service

Through Binax Service and other services provided by Binax and its affiliates, members may post deal information, access to the pricing and dealing information of a deal and carry out the deal, participate in activities organized by Binax and enjoy other information services and technical services. If you have any dispute with other members arising from any transaction on Binax, once such dispute is submitted by one or both of you and the other member to Binax for dispute resolution, Binax shall have the right to make decision at its sole discretion. You hereby acknowledge and accept the discretion and decision of Binax. You acknowledge and agree that, Binax may, on requests from governmental authorities (including judicial and administrative departments), provide user information provided by you to Binax, transaction records and any other necessary information. If you allegedly infringe upon any other’s intellectual rights or other legitimate interests, Binax may provide the necessary ID information of you to the interest holder if Binax preliminarily decides that the infringement exists. All the applicable taxes and all the expenses in relation to hardware, software, service and etc. arising during your use of the Binax Service shall be solely borne by you. By using this service you accept that all trade executions are final and irreversible. By using this service you accept that Binax reserves the right to liquidate any trades at any time regardless of the profit or loss position.

4. User’s Guide of Binax Service

You hereby promise to observe the following covenants during your use of Binax Service on Binax: All the activities that you carry out during the use of Binax Service will be in compliance with the requirements of laws, regulations, regulatory documents and various rules of Binax, will not be in violation of public interests, public ethnics or other’s legitimate interests, will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules. If you violate the foregoing promises and thereby cause any legal consequence, you shall independently undertake all of the legal liabilities in your own name and hold Binax harmless from any loss resulted from such violation. During any transaction with other members, you will be in good faith, will not take any acts of unfair competition, will not disturb the normal order of online transactions, and will not engage in any acts unrelated to online transactions. You will not use any data on Binax for commercial purposes, including but not limited to using any data displayed on Binax through copy, dissemination or any other means without prior written consent of Binax. You will not use any device, software or subroutine to intervene or attempt to intervene the normal operation of Binax or any ongoing transaction or activities on Binax. You will not adopt any action that will induce unreasonable size of data loading on the network equipments of Binax. You acknowledge and agree: Binax shall have the right to unilaterally determine whether you have violated any of the covenants above and, according to such unilateral determination, apply relevant rules and take actions thereunder or terminate services to you, without your consent or prior notice to you. As required to maintain the order and security of transactions on Binax, Binax shall have the right to close relevant orders and take other actions in case of any malicious sale or purchase or any other events disturbing the normal order of transaction of the market. If your violation or infringement has been held by any effective legal documents issued by judicial or administrative authorities, or Binax determines at its sole discretion that it is likely that you have violated the terms of this agreement or the rules or the laws and regulations, Binax shall have the right to publish on Binax such alleged violations and the actions that having been taken against you by Binax. As to any information you may have published on Binax that allegedly violates or infringes upon the law, other’s legitimate interests or this agreement or the rules, Binax shall have the right to delete such information without any notice to you and impose punishments according to the rules. As to any act you may have carried out on Binax, including those you have not carried out on Binax but have had impacts on Binax and its users, Binax shall have the right to unilaterally determine its nature and whether it constitutes violation of this agreement or any rules, and impose punishments accordingly. You shall keep all the evidence related to your acts on your own and shall undertake all the adverse consequences resulted from your failure to discharge your burden of proof. If your alleged violation to your promises causes any losses to any third party, you shall solely undertake all the legal liabilities in your own name and hold Binax harmless from any loss or extra expenses. If, due to any alleged violation by you to the laws or this agreement, Binax incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Binax against any losses and expense caused thereby, including reasonable attorney’s fee.

5. Scope and Limitation of Liability

Binax will provide Binax Service at an “as is” and “commercially available” condition. Binax disclaims any express or implied warranty with regards to Binax Service, however, including but not limited to applicability, free from error or omission, continuity, accuracy, reliability or fitness for a particular purpose. Meanwhile, Binax disclaims any promise or warranty with regards to the effectiveness, accuracy, correctness, reliability, quality, stability, completeness and timeliness of the technology and information involved by Binax Service. You are fully aware that the information on Binax is published by users on their own and may contain risks and defects. Binax serves merely as a venue of transactions. Binax serves merely as a venue where you acquire coin related information, search for counterparties of transactions and negotiate and conduct transactions, but Binax cannot control the quality, security or legality of the coin involved in any transaction, truthfulness or accuracy of the transaction information, or capacity of the parties to any transaction to perform its obligations under the transaction documents. You shall cautiously make judgment on your own on the truthfulness, legality and effectiveness of the coin and information in question, and undertake any liabilities and losses that may be caused thereby. Unless expressly required by laws and regulations or any of the following circumstances occurs, Binax shall not have any duty to conduct preliminary review on information data, transaction activity and any other transaction related issues of all users: Binax has reasonable cause to suspect that a particular member and a particular transaction may materially violate the law or agreement. Binax has reasonable cause to suspect that the activities conducted on Binax by a member may be illegal or improper. You acknowledge and agree, Binax shall not be liable for any of your losses caused by any of the following events, including but not limited to losses of profits, goodwill, usage or data or any other intangible losses (regardless whether Binax has been advised of the possibility of such losses): use or failure to use Binax Service. unauthorized use of your account or unauthorized alternation of your data by any third parties. expenses and losses incurred from purchase or acquisition of any data or information or engagement in transaction through Binax Service, or any alternatives of the same. your misunderstanding on Binax Service. any other losses related to Binax Service which are not attributable to Binax. In no event shall Binax be liable for any failure or delay of service resulted from regular equipment maintenance of the information network, connection error of information network, error of computers, communication or other systems, power failure, strike, labor disputes, riots, revolutions, chaos, insufficiency of production or materials, fire, flood, tornado, blast, war, governmental acts or judicial orders. You agree to indemnify and hold harmless Binax, its contractors, and its licensors, and their respective directors, officers, employees and agents from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of the Website, including but not limited to out of your violation this Agreement.

6. Termination of Agreement

You hereby agree that, Binax shall have the right to terminate all or part of Binax Service to you, temporarily freeze or permanently freeze (cancel) the authorizations of your account on Binax at Binax’s sole discretion, without any prior notice, for whatsoever reason, and Binax shall not be liable to you; however, Binax shall have the right to keep and use the transaction data, records and other information that is related to such account. In case of any of the following events, Binax shall have the right to directly terminate this agreement by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Binax and withdraw the corresponding Binax account thereof: after Binax terminates services to you, you allegedly register or register in any other person’s name as Binax user again, directly or indirectly; the main content of user’s information that you have provided is untruthful, inaccurate, outdated or incomplete; when this agreement (including the rules) is amended, you expressly state and notify Binax of your unwillingness to accept the amended service agreement; any other circumstances where Binax deems it should terminate the services. After the account service is terminated or the authorizations of your account on Binax is permanently froze (cancelled), Binax shall not have any duty to keep or disclose to you any information in your account or forward any information you have not read or sent to you or any third party. You agree that, after the termination of agreement between you and Binax, Binax shall still have the rights to: keep your user’s information and all the transaction information during your use of Binax Service. Claim against you according to this agreement if you have violated any laws, this agreement or the rules during your use of Binax Service. After Binax suspends or terminates Binax Service to you, your transaction activities prior to such suspension or termination will be dealt with according to the following principles and you shall will take care of on your own efforts and fully undertake any disputes, losses or extra expenses caused thereby and keep Binax harmless from any losses or expenses: Binax shall have the right to delete, at the same time of suspension or termination of services, information related to any un-traded coin tokens that you have uploaded to Binax prior to the suspension or termination. If you have reached any purchase agreement with any other member prior to the suspension or termination but such agreement has not been actually performed, Binax shall have the right to delete information related to such purchase agreement and the coins in question. If you have reached any purchase agreement with any other member prior to the suspension or termination and such agreement has been partially performed, Binax may elect not to delete the transaction; provided, however, Binax shall have the right to notify your counterparty of the situation at the same time of the suspension or termination.

7. Privacy Policy

Binax may announce and amend its privacy policy on the platform of Binax from time to time and the privacy policy shall be an integral part of this agreement.

8. Disclaimer of Liability

The Platform is not giving investment advice, tax advice, legal advice, or other professional advice by allowing you to use our services or providing the services herein, the ability to purchase or sell digital assets or the storage of digital assets, and we do not recommend, or endorse that you purchase or sell digital assets, or make any investment. Before engaging in any transaction or investment activity, you should consult a qualified professional. The services that we provide through Binax are provided to you on a strictly “as is,” “where is” and “where available” basis. The company do not represent or warrant to the accuracy, completeness, currentness, non-infringement, merchantability, or fitness for a particular purpose of Binax or the information contained therein or services contained thereon. The company shall not be liable to you or anyone else for any loss or injury resulting directly or indirectly from your use of binax or any services provided by Binax platform, including any loss caused in whole or part by any inaccuracies or incompleteness, delays, interruptions, errors or omissions, including, but not limited to, those arising from the negligence of the company or contingencies beyond their control in procuring, compiling, interpreting, computing, reporting, or delivering binax, the services thereon or the information therein. In no event will the company be liable to you or anyone else for any decision made or action taken by you in reliance on, or in connection with your use of Binax platform, the services thereon or the information therein. In no event will the company be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if the company has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problem, unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure. We cannot and do not guarantee continuous, uninterrupted or secure access to Binax platform.

9. Risks

Digital assets transaction may be subject to high risks. The risk of loss in trading digital assets may be substantial and losses may occur over a short period of time. The price and liquidity of digital assets have been subject to large fluctuations in the past and may be subject to large fluctuations in the future. You acknowledge that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these risks for you, and that Binax does not give advice or recommendations. Legislative and regulatory changes or actions at the state, federal or international level may adversely affect the use, transfer, exchange and value of digital assets.

10. Indemnity

You agree to defend, indemnify and hold harmless Binax from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to your violation of these Terms; or your violation of any rights of any other person or entity.

11. Notifications

You understand and agree that all communication with you will be via electronic communication, including emails, site messages and SMS and we will use those means to provide you with account-related notices and order receipts. To ensure that you receive all of our communications, you agree to keep your email address up-to-date and notify us immediately if there are any changes. Delivery of any notice to the email address/mobile number on record with your user account will be considered valid. If any email is returned as undeliverable, we retain the right to block access to your user account until you provide and confirm a new email address.

12. Jurisdiction

The Terms of Use shall be governed and construed in accordance with laws of Malta special administrative region of the PRC. You and Binax agree to arbitrate any dispute arising from these Terms or your use of our services. Each party reserves the right of lawsuit if a settlement cannot be made.

13. Miscellaneous

These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the services. These Terms do not alter the terms or conditions of any other electronic or written agreement you may have with Binax for our services. In the event of any conflict between these Terms and any other agreement you may have with Binax, the terms of that other agreement will control only if these Terms are specifically identified and declared to be overridden by such other agreement.

14. Account related issues

Terms & Conditions

1. Our statement

We, Binax Exchange, are committed towards making all possible circumstances for the convenient Exchange of funds, mentioned in the "Funds" section of each user's account by depositing, setting trade orders and withdrawing funds of our customers. We dedicate ourselves to take all possible precautions to protect deposited funds of every customer and allow them to trade and withdraw without any limits. We provide support to our customers in order to solve all possible problems related to our Exchange. Support is available via the "Support" section on the exchange.

2. Registration

To use Binax exchange, registration is required. A login, password and real e-mail are all necessary for registration. During the registration procedure, an activation email will be sent and you will be required to click the activation link provided to complete your registration. After clicking the activation link, your will have full access to all sections of the exchange.

3. Trading

Users can trade virtual currencies (commonly known as cryptocurrencies) by creating buy orders (bids) or sell orders (asks). Users can specify the total amount of currency they wish to buy or sell, and the rate they wish to trade at. Once the order is created, it is automatically matched against any existing orders and if any are found – the transaction will occur. If the order is not filled or only partially filled, the order is placed on the order book until a matching order can complete the request. A buy order is matched against a sell order, and vice versa. If the buying rate of an order is higher than the lowest rate of a sell order, the transaction will proceed by automatically being matched to the lowest sell order. For example: if a buy order is created to exchange 1 BTC for while there is a sell order that asks for 1 BTC, the buy order will be filled by the sell order asking for orders work exactly the same way: If a sell order is created and asks for while a buy order exists, the sell order will be filled by the buy order. The buyer will receive 1 BTC at a rate of while the seller receives at the cost of 1 BTC. You can cancel your open orders at any time. An order that has been executed cannot be reversed. The exchange fee is 0.2% of all incoming funds from transactions. By using Binax Exchange, you agree not to complain or engage any persons or parties, for any loss of funds during the trading process caused by incorrect price or amount input, wrong withdrawal addresses or by any other action you are responsible for or not, including any actions of other people, unavailability of the Binax website or system failure. Order book spam prohibited and can lead to order cancellation by exchange staff. Example: orders at unreasonable price like 100000 BTC per 1 coin which price is actually several satoshis.

4. Volume policy

We start to monitor the BTC daily volume of every cryptocurrency listed in 3 months after addition. If the average daily volume for one month is less than 0.5 BTC, we will announce the removal of the currency on Twitter, mailing lists and the "Announcements" section on the main trading interface. After the removal is announced, we keep the currencies on the exchange for at least for 2 weeks to allow our users to trade or withdraw their currencies from the exchange. If the average daily volume becomes more than 0.5 BTC during these two weeks - we will allow the currency to stay on the exchange.

5. Rounding rules

The rounding system implemented in the exchange automatically rounds the values to 8 decimal places. The system works in favor of the exchange.

6. Cryptocurrency Deposits and Withdrawals

We accept deposits for all cryptocurrencies on exchange only if you send it to the wallet addresses located in one line with cryptocurrency ticker (symbol) in your "Ledger" page. You can get new Binax address for every cryptocoin in the "Ledger" page by clicking "New Address". Deposit address private keys are Binax exchange property and never shared with users as we use deposit addresses to register deposits only. We do not store funds on this address for traders and do not connect your exchange virtual balance with your blockchain deposit address balance because we do not send funds from one address to another when users make trading. We do not accept deposits sent not to your specific cryptocurrency Binax address (wrong address) or from "generate" transactions. Deposits sent to wrong address will be lost. Make sure you send from your personal wallet. Do not mine directly to exchange. Multiple deposits of very small fractions of coins or mining directly to exchange from mining pools with fractions of coins also knows as "dust" considered as TX spam and can lead to account block without refund. We recommend to mine into Your local wallet and send coins to exchange from there. If you see "Minimum deposit" sign below coin address - it mean that we can't post any deposit of this coin lower than mentioned amount and such your deposit will be lost. Cryptocurrency withdrawals are made using the "Withdrawal" interface in the "Balances" section by sending the available balance to the desired address. All cryptocurrency deposits and withdrawals are automatic and instantly processed. All possible delays concerned with transferring funds after their successful withdrawal is not related to exchange. Successful withdrawals are always confirmed by their corresponding transaction ID. The exchange is not responsible for deposits and withdrawals initiated in any “forks” of specific coin's blockchain. If there is no updated wallet version made available by the developer of the cryptocurrency or the exchange is not notified of any updates, then the exchange is not responsible for any balances lost due to forks, double spend attacks or broken blockchain.

7. Transfer of Funds between Users

To transfer funds between Exchange users, you can send funds to there address

8. Transaction & Fees

The User agrees to pay the Platform the transaction fee for each completed transaction. Prior to transaction, the user must consider transaction fee rates published.

Transaction fee amount is automatically charged off in the digital assets for relevant transaction. The transaction fee, other charges, as well as the charge procedure can be changed/reviewed unilaterally by CoinEx from time to time and such changes shall become effective the moment they are posted on the Binax Platform.

9. History of operations

We guarantee to display your detailed history of operations for last 3 months. All operations with age above 3 months can be archived and converted to consolidated records.

10. Support

Live support and mail support will work 24/7 for 365days

11. Chat

Any words (including nicknames) that can be interpreted as abuse or discrimination of any kind are prohibited. Any advertisements are also prohibited. Derogatory remarks towards any staff members are prohibited and will be severely punished. Any off the book deals that are initiated on the exchange chat are also prohibited. This is to ensure that the chat does not host any possible scams. Attempting to bypass the chat for personal business is prohibited and may result in account suspension. Continuous posts (more than 2 times) containing: same message, non-crypto related videos, tips with very small almost worthless amounts (less) tweets, market links are considered as flood and will lead to chat ban. abuse of other users with unreasonable ban voting will lead to chat ban. chat moderators with bage are not c-BIN staff. they are just trusted traders with chat moderation privelege. they do not officially represent the exchange.

12. API

The API is intended for the automated data analysis of trades. The allowed average frequency of requests is capped at 100 requests per minute. The API cannot be used to spam the order books. This occurs when bots create a large amount of small orders to block users from seeing the current orders.

13. Giveaways

Giveaways are implemented to help promote currencies. The Giveaway System allows users to claim a certain amount only once per account. It is prohibited to create more than one account for the sole purpose of claiming coins from the Giveaway System. Detection of such activity will lead to the deletion of all accounts involved without the possibility of recovering funds.

14. Holds

A hold on certain funds can be initiated by the exchange in case of any discrepancies regarding trading rates, volumes and balances. The hold only affects certain currencies involved in such discrepancies. Funds that are placed under a hold will be released pending a detailed investigation.

15. Currency Delisting

The currency delisting procedure will be performed by the exchange only with a prior announcement of at least 14 days before the actual delisting of the market. A notification by newsletter will be sent to all user e-mails (all users are subscribed to the newsletter by default), Twitter, Chat and on the main trading page ("Announcements" section). Markets will also be highlighted with a red color to let users know that the market involving the currency is planned to be removed from the exchange. This gives users ample time to trade or withdraw currencies before they are delisted. Balances cannot be recovered after a coin is delisted. Wallets can be given an extended grace period for withdrawals if server performance is not affected. Coin can also be delisted without previous notice in case of broken blockchain which a coin developer is refusing to fix.

16. Disclaimer

The current rules and policies can be revised without any notifications to users of this service, but must be published on this page. The exchange reserves the right to ban any user from the chat or suspend any user accounts with no chance of recovering any balances for breaking any of the rules listed.

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