Terms of Service and Privacy

TERMS OF SERVICE

February 1st, 2019


By accessing or using the BLOCKSALE Platform (Platform, Exchange, Decentralised Exchange), the Services, the BLOCKSALE Website (Website, Site, blocksale.io) you (the User, your, yourself, Users) are deemed to have read, understood, and accepted all of the following Terms and Conditions (Terms) in the Agreement (Agreement) outlined by Blocksale OÜ (BLOCKSALE, The Company, We, Us, Our).

As used in these Terms “BLOCKSALE” refers to the company Blocksale OÜ (company code 14388373, registered at Kakumäe tee 226 Haabersti linnaosa, Tallinn Harju maakond 13516, Estonia) including, without limitation, its owners, directors, investors, employees, or other related parties.

BLOCKSALE RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. WE SUGGEST THAT YOU REVIEW THESE TERMS PERIODICALLY FOR CHANGES. SUCH CHANGES SHALL BE EFFECTIVE IMMEDIATELY UPON POSTING. YOU ACKNOWLEDGE THAT BY ACCESSING OUR WEBSITE AFTER WE HAVE RELEASED AND PUBLISHED CHANGES TO THESE TERMS ON THE WEBSITE, YOU ARE AGREEING TO THE MODIFIED TERMS. IN PARTICULAR, BLOCKSALE IS LIKELY TO CHANGE THESE TERMS AFTER THE FURTHER DEVELOPMENT OF THE SERVICES/APPLICATIONS AND THEIR PUBLIC RELEASE. YOU MUST LEAVE THE WEBSITE IMMEDIATELY IF YOU DO NOT AGREE WITH THE TERMS.

BLOCKSALE DOES NOT PROVIDE CUSTODIAL OR WALLET SERVICES FOR THE TOKENS AND DOES NOT HOLD ANY CRYPTOGRAPHIC ASSETS OF ANY KIND ON BEHALF OF USERS.

ANY PERSON OR ENTITY, INCLUDING ANYONE ACTING ON ITS BEHALF, BEING BASED, DOMICILED, LOCATED OR INCORPORATED IN THE UNITED STATES OF AMERICA AND ANY OF ITS LANDS OR IN THE NORTH KOREA, SINGAPORE, HONG KONG, SHALL NOT USE THE WEBSITE AND SHALL LEAVE THIS WEBSITE IMMEDIATELY.

BLOCKSALE EXPRESSLY DISCLAIMS ANY AND ALL RESPONSIBILITY FOR ANY DIRECT, INDIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND WHATSOEVER ARISING DIRECTLY OR INDIRECTLY FROM: (I) RELIANCE ON ANY INFORMATION CONTAINED IN THIS DOCUMENT OR ON THE WEBSITE, (II) ANY ERROR, OMISSION OR INACCURACY IN ANY SUCH INFORMATION OR (III) ANY ACTION RESULTING THEREFROM, (IV) USAGE OR ACQUISITION OF PRODUCTS, AVAILABLE THROUGH THE PLATFORM, (V) ANY MISUSE OF THE CRYPTOGRAPHIC TOKENS, AQUIRED THROUGH THE PLATFORM

1. TERMS

1.1. The following terms shall have for the purposes of these Terns the following meanings:

1.1.1. “Cryptocurrencies” means a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.

1.1.2. “Digital Asset” or “Cryptographic Token” are tokens, available in particular public blockchain network such as Ethereum.

1.1.3. “Blockchain” means a distributed digital ledger in which transactions made in Cryptocurrency or Cryptographic Tokens are recorded chronologically and publicly.

1.1.4. “ETH” or “Ether” means value token of the Ethereum blockchain called “ether”.

1.1.5. “Ethereum” means an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting) functionality.

1.1.6. “ERC-20; ERC-223” token standards describing the functions and events that an Ethereum Digital Asset must implement to fulfil the standard.

1.1.7. “Smart contract” means self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code.

2. The Platform

2.1. The objective of Blocksale is to provide access to interact with smart contracts and deploy smart contracts for peer to peer cryptocurrency exchange, where Users can interact with smart contracts that are deployed or shall be deployed on the Ethereum distributed blockchain ledger with the use of Blocksale smart contract.

2.2. Blocksale aims to provide a secure, convenient platform for exchanging digital assets on the Ethereum network. Users deposit their assets to the Blocksale smart contract, and, through the Blocksale Website, authorize Ethereum transactions to exchange those assets for other assets on the same network.

2.3. The exchange rate and quantity of assets is defined by the two parties participating in the exchange.

2.4. You must be 18 years or older to access or make use of the Services. The Services are not targeted to, or intended to be used by, anyone under the age of 18.

2.5. Our services do not allow users to exchange their assets for anything other than assets on the Ethereum network.

2.6. Blocksale is entitled to charge fees for using the Platform and decision on the fees is in Blocksale’s discretion. The fees might be, but not limited to the following:

a) market taker fee;

b) market maker fee.

2.7. Blocksale undertakes that the Fee Schedule shall be published on the Website at any given time and users by accepting these Terms agree that the fees, published in the Website, are the valid and binding ones and that change of the fees does not also mean change of these Terms. The fees are be non-refundable.

2.8. The Exchange and the Smart Contract is developed and runs on public Ethereum network and other underlying technologies.

2.9. The Platform does not provide the following services:

a) exchange services between Cryptocurrencies and fiat currencies

b) wallet or custodial services of credentials necessary to access virtual currencies. As such third-party wallets should be used for the storage of digital assets and Blocksale does not take any responsibility arising from third party wallets or transfer to and from third party wallets.

c) Users acknowledge and accept that Blocksale uses Ethereum network which requires transaction costs “Gas”. Users acknowledge and accept that transactions and transaction costs are managed by Ethereum network and are beyond the control or responsibility of Blocksale.

2.10. Users understand and accept that the Project is currently in beta development phase and that still requires substantial development work.

2.11. All your factual and potential tax obligations that might arise due to the purchase of digital assets are your sole responsibility and Blocksale is not in any case and under no conditions bound to compensate for your tax obligation or give you any advice related to tax issues, including but not limited what kind of filing or reporting you need to do with the competent tax authority, which taxes and to which extent you are obliged to pay, which tax exemptions you are eligible.

2.12. Users are highly advised to seek professional legal, financial and technical advice and consultation before using the Decentralized Exchange.

3. Risks

3.1. User fully understands that digital assets, blockchain technology, Ethereum, Ether and other associated and related technologies are new and untested.

3.2 Hackers or other groups or organizations may attempt to interfere with your third-party wallet, the Website or the availability of tokens and sigital assets in any number of ways, including without limitation denial of service attacks, Sybil attacks, spoofing, smurfing, malware attacks, or consensus-based attacks.

3.3. There is a risk that the Website and Platform may unintentionally include weaknesses or bugs in the source code interfering with the use of or causing the loss of digital assets.

3.4. Ethereum blockchain, which is the base technology of the Platform, is susceptible to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attack presents a risk for the Exchange in a way of improper execution and sequencing of Ethereum contract computations in general.

3.5. Blocksale is not responsible for any losses and damages that may result from the use of the Ethereum platform, or any problems arising from the Ethereum code.

4. Eligibility

4.1. The Website and the Platform are not offered for use to natural and legal persons, having their habitual residence or their seat of incorporation in the following countries: i) the United States of America, ii) North Korea iii) Singapore and iv) Hong Kong (“Restricted Areas”).

4.2. Natural and legal persons with their habitual residence or seat of incorporation from the Restricted Areas shall not use the Website and the Platform.

4.3. You further represent and warrant that you:

a. are of legal age to form a binding contract (at least 18 years old in most of the jurisdictions);

b. have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party;

c. are not located in, under the control of, or a national or resident of any Restricted Areas;

d. have not been placed on any of the sanctions lists, published and maintained by the United Nations, European Union, any EU country, UK Treasury and US Office of Foreign Assets Control (OFAC);

e. will not use the Platform if any applicable laws in jurisdiction of your habitual residence or incorporations prohibit you from doing so in accordance with these Terms;

f. have a deep understanding of the functionality, usage, storage of cryptographic tokens, smart contracts, and blockchain-based software.

5. Liability

5.1. Blocksale, its affiliates and their respective officers, employees or agents will in regard to the Website and the Platform not be liable to you or anyone else for any damages of any kind, including but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses or damages that result from use or loss of use of this Website and the Platform), even if Blocksale has been advised of the possibility of such damages or losses, including, without limitation, from the use or attempted use of the Website or the Platform.

5.2. Further, neither we nor any of our affiliates or licensors will be responsible for any compensation, reimbursement, or damages arising in connection with:

(a) your inability to use the to the Website and the Platform, including without limitation as a result of any termination or suspension of the Ethereum network or this agreement, including as a result of power outages, maintenance, defects, system failures or other interruptions;

(b) the cost of procurement of substitute goods or services;

(c) any investments, expenditures, or commitments by you in connection with this agreement or your use of or access to the to the Website and the Platform; or

(d) any unauthorized access to, alteration of, or the deletion, destruction, damage, loss or failure to store any data, including records, private key or other credentials, associated with to the Website and the Platform.

5.3. You will defend, indemnify, and hold Blocksale harmless, our affiliates and licensors, and each of their respective employees, officers, directors, and representatives from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorney fees) arising out of or relating to any third-party claim concerning this Agreement or your use of the Website and the Platform contrary to these Terms. If we or our affiliates are obligated to respond to a third-party subpoena or other compulsory legal order or process described above, you will reimburse us for reasonable attorney fees, legal costs and extra-judicial costs, as well as our employees’ and contractors’ time and materials spent responding to the third-party subpoena or other compulsory legal order or process at reasonable hourly rates in the jurisdiction of Blocksale.

6. Intellectual Property

6.1 Unless otherwise indicated, Blocksale retains all right, title and interest in all of our intellectual property, including inventions, discoveries, processes, marks, methods, compositions, formulae, techniques, information, source code, brand names, graphics, user interface design, text, logos, images, information and data pertaining to the Project whether or not patentable, copyrightable or protectable in trademark, and any trademarks, copyrights or patents based thereon. You may not use any of our intellectual property for any reason, except with our express, prior, written consent.

6.2 You are being granted a non-exclusive, non-transferable, revocable license to access and use the Website and the Project strictly in accordance with these Terms.

USE OF THE PLATFORM

7.1. Your use of the Platform shall be for non-commercial purposes, which means you shall not sublicense, rent, lease, sell, trade, gift, bequeath or otherwise transfer any license associated with the Services to anyone.

7.2. In connection with your use of the Website and the Exchange, you hereby agree that you will not:

a) Use, or attempt to use, the Services to harass, abuse, or harm, or advocate or incite harassment, abuse or harm of another person or group;

b) Partake in any transaction involving the proceeds of illegal activity (defined below);

c) Violate or assist in the violation of any applicable law, statute, ordinance, or regulation;

d) Intentionally try to defraud Blocksale or its Users;

e) Take any action that interferes with, intercepts, or expropriates any system, data, or information;

f) Transmit or upload any malicious software or program;

g) Attempt to gain unauthorized access to other Blocksale accounts, the Website, or any related networks; or

h) Disrupt the Services in any manner.

7.3. Blocksale may not be used to transmit funds for any activity that is considered a crime in the Republic of Estonia.

a) Drug trafficking;

b) Purchases on darknet markets;

c) Qualified swindle;

d) Illegal arms trafficking;

e) Human trafficking;

f) Abduction ransom;

g) Extortion;

h) Embezzlement;

i) Corruption of public officials;

j) Acts of terrorism or terrorist financing;

k) Robbery or international traffic of automobiles;

l) Crimes against copyright in general.

In the event a Registered User violates this Agreement, Blocksale reserves the right to report suspicious and fraudulent activity to the relevant authorities.

Governing Law

These Terms will be governed by and construed and enforced in accordance with the laws of Estonia, without regard to conflict of law rules that would cause the application of the laws of any other jurisdiction. Any dispute between Blocksale and you or your agent arising out of or relating to these Terms or its subject matter or formation (including non-contractual Disputes or claims) that is not subject to arbitration will be resolved exclusively in the Courts of Estonia.


Please Contact us at info@blocksale.io to report any violations of this User Agreement or to ask any questions regarding this agreement or the Services.

PRIVACY POLICY

February 1st, 2019


Blocksale is committed to protecting privacy of the Platform’s users. Authorised employees within the company only use any information collected from individual customers as necessary. We will not sell, share, or rent your personal information to any third party, unless required by extraordinary and rare circumstances such as being compelled by law enforcement.


Blocksale may only share your personal information as follows:


a) With your consent;

b) To comply with applicable laws;

c) To respond to legal requests and legal process;

d) To protect the rights, life, and property of Blocksale, our agents, registered users, and others. This includes enforcing our agreements, policies, and Terms of Service;

e) In an emergency, i.e. protecting the safety of our employees and agents, our registered users, or any person;

f) To certain employees when the sharing of such information is indispensable to the conduct of their employment; and

g) With companies that we plan to merge with or be acquired by.


Blocksale will collect personal information that users agree to provide. For example, that may include registration, surveys, and other online forums that ask users to provide their names, email addresses, other contact information, demographic information, account information, and feedback.


Blocksale may collect some information about users automatically (e.g. IP addresses) to analyse trends, administer the site, track User’s movement, and gather broad demographic information for aggregate use. Blocksale may use cookies to learn which areas of the Website are helpful and which areas need to be adjusted. Blocksale may use web beacons or tracking pixels in order to know which areas of the Website you have visited, or how to improve the existing Platform.


Blocksale will take reasonable measures in an effort to prevent the loss, misuse, and alteration of the information that we obtain from you, but we make no assurances about our ability to prevent any such loss, misuse or alteration, and we will have no liability to you or to any third party arising out of any such loss, misuse or alteration.


Any changes to the Privacy Policy will be updated on this page. Blocksale does not have obligation to inform users on the changes.