Terms and Conditions

Version 1.1

 

1. ACCEPTANCE OF TERMS

Thank you for choosing CASTLE EXCHANGE. The following Terms and Conditions and the Privacy Policy (together, the “Terms”) apply to any person that registers for and/or opens a CASTLE EXCHANGE Account through www.castle-x.com or any associated mobile applications, website, or APIs (together, the “CASTLE EXCHANGE Site”). 

The Terms constitute a legally binding agreement between you and Castle Group Investments Limited (Trading as ‘CASTLE EXCHANGE’), which is a company incorporated under the laws of the United Kingdom. For further information on CASTLE EXCHANGE please see the ‘About Us’ page on the CASTLE EXCHANGE website. For the purposes of these Terms, any reference to “we” “us” “our” “Castle-X” and/or any similar term shall be construed as reference to CASTLE EXCHANGE.

By registering for and opening a CASTLE EXCHANGE Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of the CASTLE EXCHANGE Site and/or your CASTLE EXCHANGE Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions.

Please read these Terms carefully before using the CASTLE EXCHANGE Site because they affect your legal rights and obligations.

 

2. AMENDMENT OF TERMS

CASTLE EXCHANGE may amend the Terms from time to time. You should visit the CASTLE EXCHANGE website regularly to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations.

The continued use of your CASTLE EXCHANGE Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the CASTLE EXCHANGE Site and your CASTLE EXCHANGE Account.

 

3. ELIGIBILITY

By opening a CASTLE EXCHANGE Account, you expressly warrant and represent that:

  1. You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the CASTLE EXCHANGE Site;
  2. You will not open, or attempt to open, a CASTLE EXCHANGE Account under any name except your own; or use your CASTLE EXCHANGE Account to carry out transactions on behalf of a third party;
  3. You will follow the CASTLE EXCHANGE account opening process if you wish to open and use a CASTLE EXCHANGE Account;
  4. You will not have more than one CASTLE EXCHANGE Account; use or access any CASTLE EXCHANGE Account other than your own; or assist any other person in obtaining unauthorised access to any CASTLE EXCHANGE Account;
  5. You will provide security for transactions carried out through your CASTLE EXCHANGE Account by ensuring there is sufficient Local Currency or digital currency (as the case may be) in your CASTLE EXCHANGE Account in advance of any transaction;
  6. You will not allow or facilitate the Deposit of Local Currency into your CASTLE EXCHANGE Account unless that Deposit is made in accordance with the Deposit Requirements (see ‘Deposits’ section contained herein);
  7. You will not allow or facilitate the Withdrawal of Local Currency from your CASTLE EXCHANGE Wallet to a bank account held in the name of a third party (see ‘Withdrawals’ section contained herein);
  8. You will not use your CASTLE EXCHANGE Account for or in relation to any illegal activity, any ‘Prohibited Activity’ (as contained herein), in violation of any laws, statutes, ordinances or regulations, or in breach of CASTLE EXCHANGE’s requirements;
  9. You are not a national or resident of the United States of America.

Any capitalised terms used in this Eligibility section shall have the meaning given to them in these Terms. Reference in these Terms to “Local Currency” means fiat or government issued currency (e.g. GBP, EUR, ZAR).

By opening a CASTLE EXCHANGE Account you accept and agree that CASTLE EXCHANGE may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, the CASTLE EXCHANGE Site or any CASTLE EXCHANGE Account in a manner that is inconsistent with the letter or spirit of these Terms.

 

4. RISKS

Before using the CASTLE EXCHANGE Site, you should ensure that you understand the risks involved in buying, selling or trading digital currencies. Digital currency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. There may be additional risks not identified in these Terms.

You should carefully assess whether your financial situation and risk tolerance is suitable for buying, selling or trading digital currency. You accept and agree that you are solely responsible for any decision to buy, sell, trade or otherwise hold or deal with digital currency.

Cryptocurrencies are new technologies that often work differently to your prior experience. They entail various risks that you should understand. We have highlighted some of those risks below.

Cryptocurrency transactions are irreversible. If you send cryptocurrency to an incorrect address, or send the wrong amount of cryptocurrency, you cannot get it back. CASTLE EXCHANGE will not be liable for executing a transaction if the instruction relates to an incorrect wallet address.

Before buying or selling cryptocurrency, you should educate yourself about cryptocurrencies. Buying and selling cryptocurrency entails risks and could result in a complete loss of your funds. Please ensure that you fully understand the risks involved and do not invest money that you cannot afford to lose.

Cryptocurrencies are not backed by any entity. Neither CASTLE EXCHANGE nor anyone else has an obligation to buy back your cryptocurrency in the future. Additionally it is very important to understand the following risks:

  • Cryptocurrencies are not legal tender and are not backed by any government. Accounts and value balances are not subject to any government backed deposit insurance or any other government protections;
  • Legislative and regulatory changes or actions at state or international level may adversely affect the use, transfer, exchange, and value of cryptocurrency;
  • Transactions in cryptocurrency are generally irreversible and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
  • Cryptocurrency transactions shall be deemed to be made when recorded on a “blockchain” ledger, which is not necessarily the date or time that you initiate the transaction;
  • Cryptocurrencies are derived from the continued willingness of market participants to exchange local fiat currency for cryptocurrency, which may result in the potential for permanent and total loss of value, should the market for cryptocurrency disappear;
  • There is no assurance that a person who accepts cryptocurrency as payment today will continue to do so in the future;
  • The volatility and unpredictability of the price of cryptocurrencies relative to local currency may result in significant loss, or tax liability, over a short period of time;
  • The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack;
  • The nature of cryptocurrency means that any technological difficulties experienced by a service provider may prevent access to or use of your cryptocurrency

 

5. ELECTRONIC COMMUNICATIONS

You accept and agree that:

  • any communications, agreements, notices and/or any other documents (together “Communications”) relating to your CASTLE EXCHANGE Account or your use of CASTLE EXCHANGE’s services will be provided to you electronically by posting them on the CASTLE EXCHANGE Site, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically;
  • you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address;
  • you assume full responsibility for providing CASTLE EXCHANGE with a valid and accessible email address to which any Communications may be sent, and for ensuring that email address and any other contact information is kept up to date. Any Communication sent to the email address you have provided to us will be deemed to have been received by you. You can amend your contact information by signing-in to your CASTLE EXCHANGE Account and accessing the Accounts page of the app / website.

You may at any time withdraw your consent to receiving Communications electronically by contacting info@castle-x.com. You acknowledge that failure to give, or withdrawing, consent to receiving Communications electronically puts the security of your CASTLE EXCHANGE Account at risk (see ‘Account Security’ section herein) and that CASTLE EXCHANGE reserves the right to close your CASTLE EXCHANGE Account in the event you fail to give, or withdraw, your consent to the receipt of Communications electronically.

 

6. IDENTITY VERIFICATION

CASTLE EXCHANGE implements and maintains the highest standards of Know Your Customer (“KYC”) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing. While our industry is largely unregulated, CASTLE EXCHANGE voluntarily adheres to local and international compliance standards in relation to customer due diligence.

To ensure we meet these standards, our customers are required to provide certain personal details and documents when opening a CASTLE EXCHANGE Account (“Identity Verification”). The nature and extent of the Identity Verification required will depend upon which of our supported countries you are resident in, and the Deposit and Withdrawal limits that apply to your CASTLE EXCHANGE Account. In certain circumstances, CASTLE EXCHANGE may also perform enhanced due diligence (“EDD”) procedures in relation to your CASTLE EXCHANGE Account. You accept and agree that you will remain subject to such procedures at all times.

CASTLE EXCHANGE reserves the right to, at any time:

  • restrict or suspend your CASTLE EXCHANGE Account when we, in our sole discretion, consider it necessary to carry out further Identity Verification and/or EDD; or
  • terminate your CASTLE EXCHANGE Account if you provide, or we suspect you have provided, false information or refuse to provide information we require for Identity Verification and/or EDD.

You accept and agree that there may be delays in accessing your CASTLE EXCHANGE Account, or in carrying out transactions through your CASTLE EXCHANGE Account, while we undertake any Identity Verification and/or EDD procedures.

Retention of information. CASTLE EXCHANGE is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with CASTLE EXCHANGE. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to CASTLE EXCHANGE may be retained by us, including following the closure of your CASTLE EXCHANGE Account.

 

7. THE CASTLE EXCHANGE WALLET

The CASTLE EXCHANGE Wallet allows you to send, receive and store digital currency (together, “CASTLE EXCHANGE Wallet Transactions”).

Supported Digital Currencies. The CASTLE EXCHANGE Wallet is only available in relation to the digital currencies that CASTLE EXCHANGE, in its sole discretion, decides to support (“Supported Digital Currency” or “Supported Digital Currencies”). The Supported Digital Currencies may change from time to time. Under no circumstances should you attempt to carry out a CASTLE EXCHANGE Wallet Transaction in relation to a digital currency other than a Supported Digital Currency. In particular, but without limiting the generality of the foregoing, you accept and agree that you will have no access, entitlement or claim:

  • to any digital currency sent to a receive address associated with your CASTLE EXCHANGE Wallet where that digital currency is not a Supported Digital Currency; or
  • to any digital currency sent to a receive address associated with your CASTLE EXCHANGE Wallet, where that receive address is associated with another digital currency. For example, you will have no access, entitlement or claim to any Bitcoin Cash (BCH) sent to a Bitcoin (BTC) receive address.

Information about the Supported Digital Currencies can be found on the CASTLE EXCHANGE website.

Local Currency in your CASTLE EXCHANGE Wallet. Local Currency deposited into your CASTLE EXCHANGE Wallet (see ‘Deposits’ contained herein) is solely for (1) the purchase of Supported Digital Currencies and/or (2) Withdrawal to an approved bank account (see ‘Withdrawals’ section contained herein). In certain countries we may also allow you to purchase specific goods and/or services from selected third parties using your Local Currency or Supported Digital Currency. You accept and agree that any such purchase will be subject to these Terms.

Proceeds from the sale of Supported Digital Currencies will be credited to your Local Currency CASTLE EXCHANGE Wallet, less any applicable fees (as explained in the FEES section of the CASTLE EXCHANGE website and mobile apps. CASTLE EXCHANGE does not pay interest on Local Currency or Supported Digital Currency balances held in your CASTLE EXCHANGE Wallet.

Transaction instructions. CASTLE EXCHANGE will process CASTLE EXCHANGE Wallet Transactions according to your instructions. You accept and agree that CASTLE EXCHANGE does not:

  • guarantee the identity of any user, receiver, or other party to a CASTLE EXCHANGE Wallet Transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to CASTLE EXCHANGE;
  • have any control over, or any liability in relation to, the delivery, quality or any other aspect of any goods or services that you may buy from or sell to any third party. CASTLE EXCHANGE shall not be responsible for, and will take no action in relation to, ensuring that any buyer or seller you transact with using your CASTLE EXCHANGE Wallet completes the relevant transaction or has the requisite authority to do so.

Receiving digital currency. You may receive Supported Digital Currency into your CASTLE EXCHANGE Wallet by providing the sender with a receive address generated in your CASTLE EXCHANGE Wallet. Your CASTLE EXCHANGE Wallet will only be credited with Supported Digital Currency sent to a receive address generated through your CASTLE EXCHANGE Wallet and associated with that Supported Digital Currency. For example, your CASTLE EXCHANGE Wallet will be credited with ETH when it is sent to an ETH receive address generated through your CASTLE EXCHANGE Wallet.

Funds received in error. In the event you know, suspect, or should reasonably know or suspect, that any Local Currency or digital currency has been credited to your CASTLE EXCHANGE Wallet (or to any bank account) in error, you must immediately notify CASTLE EXCHANGE of the error by submitting a ticket through the CASTLE EXCHANGE Support Team via info@castle-x.com. You accept and agree that you have no claim or entitlement to any Local Currency or digital currency received in error, and must immediately return such funds in accordance with the instructions received from CASTLE EXCHANGE.

 

8. DEPOSITS

Where your identity has been verified (in accordance with the ‘Identity Verification’ requirements contained herein), you may deposit local currency into your CASTLE EXCHANGE Wallet by depositing funds into a CASTLE EXCHANGE bank account (a “Deposit”).

Details of the CASTLE EXCHANGE bank account into which you must make the Deposit will be provided to you by CASTLE EXCHANGE, and any such bank account will be held and operated by a CASTLE EXCHANGE operating entity. You accept and agree that any information you provide to CASTLE EXCHANGE may be shared with this entity, which will process Local Currency transactions in accordance with CASTLE EXCHANGE’s instructions.

Supported Deposit Methods: CASTLE EXCHANGE supports deposits by either debit card, credit card or via direct bank transfer

Where you have made a Deposit using a Supported Deposit Method, and have adhered to the Deposit Requirements (explained herein), your Deposit will be allocated to your CASTLE EXCHANGE Wallet. NOTE: Your cash balance will be converted into a stable coin balance (via a basket of stable coins like USDT, USDC, TUSD, PAX, etc) to reduce the risk of cryptocurrency fluctuations and to make for faster transaction speeds.

Due to legal and operational constraints, you must strictly adhere to the following Deposit requirements (the “Deposit Requirements”):

  • you may only make a Deposit from a bank account (or other Supported Deposit Method) held in your own name. You must not allow any third party to make a Deposit into your CASTLE EXCHANGE Wallet;
  • you may only Deposit local currency from a bank account (or other Supported Deposit Method) compatible with the Deposit methods available in your country or region;
  • except in the case of a SEPA transfer, you may only make deposits denominated in the local currency associated with your CASTLE EXCHANGE Wallet. For example, if you have a EUR Wallet, you must only make Deposits in Euros;
  • you may not use cash or cheques to make a Deposit. CASTLE EXCHANGE reserves the right to refuse any Deposit made by cash or cheque. Should CASTLE EXCHANGE decide, in its sole discretion, to allow a Deposit by cash or cheque on an exceptional basis, the allocation of such Deposit will be delayed to allow fraud and compliance checks to take place, and a cash / cheque deposit fee may be deducted from it. Any CASTLE EXCHANGE Account that receives more than one cash or cheque deposit may, at CASTLE EXCHANGE’s sole discretion, be suspended indefinitely.

You agree to abide by the Deposit Requirements and agree and accept that failure to do so may cause delay in or failure of any deposit reflecting in your CASTLE EXCHANGE Wallet, and/or restriction, suspension or termination of your CASTLE EXCHANGE Account.

Allocation of deposits. When you request to make a Deposit through your CASTLE EXCHANGE Wallet, you will be provided with a Reference Number or Unique Deposit Amount. To permit timely and successful allocation of a Deposit to your CASTLE EXCHANGE Wallet, you must use the Reference Number or Unique Deposit Amount when you make an online bank transfer or use any other Supported Deposit Method. CASTLE EXCHANGE will not be responsible for any delay in or non-allocation of deposits to your CASTLE EXCHANGE Wallet where you fail to specify the required Reference Number or Unique Deposit Amount.

Deposits may take time to reflect in your CASTLE EXCHANGE Wallet due to bank processing times, operational processes, and/or failure by you to adhere to the Deposit Requirements. Under no circumstances will CASTLE EXCHANGE have any liability to you in relation to any delay in or failure of a Deposit reflecting in your CASTLE EXCHANGE Wallet.

CASTLE EXCHANGE will make all reasonable efforts to allocate deposits that do not meet the Deposit Requirements. However, any deposits less than the Minimum Unallocated Deposit Amount that cannot be allocated within a one month period will be retained by CASTLE EXCHANGE and you accept and agree that you shall have no further claim or entitlement to such funds. The Minimum Unallocated Deposit Amount shall until otherwise determined by CASTLE EXCHANGE be USD10 (ten) or the equivalent in your Local Currency.

 

9. WITHDRAWALS

Where you have added your bank account details to your CASTLE EXCHANGE Account, you may withdraw funds from your CASTLE EXCHANGE Wallet to your bank account (a “Withdrawal”). CASTLE EXCHANGE will process Withdrawals in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to CASTLE EXCHANGE, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will CASTLE EXCHANGE be under any obligation to reverse or amend any Withdrawal.

CASTLE EXCHANGE will make all reasonable efforts to process Withdrawals each business day, but you accept and agree that CASTLE EXCHANGE provides no guarantee in relation to the Withdrawal processing period.

Withdrawals to the bank account of any third party are expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds from your CASTLE EXCHANGE Wallet to the bank account of a third party and accept that any such Withdrawal may be refused and/or result in the restriction, suspension or termination of your CASTLE EXCHANGE Account.

 

10. INSTANT BUY OR SELL

CASTLE EXCHANGE Wallet holders may use the Instant Buy or Sell service to buy or sell a chosen amount of Supported Digital Currency at the quoted exchange rate.

In using the Instant Buy or Sell service, you accept and agree that:

  • When you make an Instant Buy or Sell order, CASTLE EXCHANGE will match your order with open orders on the Exchange or other digital currency exchanges available to us. CASTLE EXCHANGE will facilitate the trade, in accordance with your instructions;
  • CASTLE EXCHANGE is not acting as your broker, intermediary, agent, adviser or in any fiduciary capacity and no information or communication provided to you by CASTLE EXCHANGE in relation to an Instant Buy or Sell transaction will constitute advice;
  • when you place an order to buy or sell Supported Digital Currency, we will provide you with a quoted exchange rate. CASTLE EXCHANGE is unable to, and will not, specify the percentage of the quoted exchange rate that reflects CASTLE EXCHANGE’s facilitation of the relevant trade, as it will vary with market conditions. The quoted exchange rate may differ from rates seen elsewhere on the CASTLE EXCHANGE site, or on external sources, and you acknowledge that the quoted exchange rate is the rate that will apply to your order;
  • By proceeding with your Instant Buy or Sell transaction, you confirm that you accept the quoted exchange rate, including its components;
  • A volume limit per transaction will apply to any Instant Buy or Sell order (see the Fees page of the CASTLE EXCHANGE website); and
  • CASTLE EXCHANGE does not guarantee the availability of, or that there will be no delays or interruptions in or to, the Instant Buy or Sell service.

Before confirming any Instant Buy or Sell transaction, you must ensure that the amount of Supported Digital Currency to be bought or sold is correct and that you agree to the quoted exchange rate. CASTLE EXCHANGE cannot, and will not, reverse an executed order.

CASTLE EXCHANGE reserves the right to delay or refuse any Instant Buy or Sell transaction if, in our sole discretion, we perceive there to be a risk of fraud or illegal activity, or where we have reasonable grounds on which to suspect an error may have been made. CASTLE EXCHANGE shall have no liability to you in connection with any delay in or non-completion of an Instant Buy or Sell transaction.

 

11. THE EXCHANGE

CASTLE EXCHANGE (hereafter ‘the Exchange’) is an order book exchange platform for digital currencies that is intended for use by customers with experience in and/or knowledge of similar platforms. Any person using the Exchange does so entirely at their own risk.

The Exchange is not offered to customers in all jurisdictions. This section of the Terms applies to you if you access and/or use the Exchange. In accessing and/or using the Exchange for any purpose, you agree and accept that:

  • all trades executed on the Exchange are executed automatically, based on the parameters of your order instructions, and cannot be reversed. In the case of technical issues affecting CASTLE EXCHANGE’s internal systems, CASTLE EXCHANGE may, where possible and in its sole discretion, take steps to reverse or otherwise amend a trade;
  • all trading on the Exchange is subject to CASTLE EXCHANGE’s fee structure, as set out on the Fees page of the CASTLE EXCHANGE website. By using the Exchange, you accept and agree to all applicable fees;
  • CASTLE EXCHANGE makes no guarantee that the Exchange will be available without interruption; that there will be no delays, failures, errors, omissions or loss of transmitted information; or that any order will be executed, accepted, recorded, or remain open.

CASTLE EXCHANGE may, at any time and in our sole discretion, refuse any trade, impose limits on the trade amount permitted, or impose any other conditions or restrictions upon your use of the Exchange that we deem necessary. We may, for example, limit the number of open orders that you may establish or restrict trades from certain locations. CASTLE EXCHANGE reserves the right to take such action without prior notice.

 

12. FEES

The fees applicable to transactions undertaken on the CASTLE EXCHANGE Site can be viewed on the Fees page of the CASTLE EXCHANGE website. CASTLE EXCHANGE reserves the right to change our fees at any time and will update the Fees page accordingly. In certain circumstances, and at our sole discretion, CASTLE EXCHANGE may notify selected customers of a specific fee change, where we consider a change to be of particular relevance to such customers.

Send and Receive fees. You may be charged a fee to send Supported Digital Currency from your CASTLE EXCHANGE Wallet and/or to receive Supported Digital Currency into your CASTLE EXCHANGE Wallet. Fees will apply where Supported Digital Currency is sent to or received from a Supported Digital Currency address (e.g. a Bitcoin address); no fees will apply where Supported Digital Currency is sent to or received from a mobile telephone number or email address. Please see the Fees page of the CASTLE EXCHANGE website for further information on send and receive fees.

Deposit and Withdrawal fees. All Withdrawals from your CASTLE EXCHANGE Wallet will incur a fee. Such fees differ by country and are set out on the Fees page of the CASTLE EXCHANGE website. Some Deposits made using a Supported Deposit Method may incur a fee, as set out on the Fees page, and cash Deposits may incur a Cash Deposit Fee (see ‘Deposits’ section contained herein). Such fees will be displayed in your transaction history upon completion of the transaction.

Instant Buy and Sell fees. The quoted exchange rate in relation to any buy or sell order placed using the Instant Buy and Sell service will include an amount to reflect CASTLE EXCHANGE’s facilitation of the relevant trade, the percentage of which will vary with market conditions.

Trade fees. CASTLE EXCHANGE applies a fee structure for customers using the Exchange, which is explained in the Fees page of the CASTLE EXCHANGE website for further information. CASTLE EXCHANGE will, at the time of any transaction on the Exchange, notify you of any fees that will apply to the transaction. By proceeding with any transaction, you accept and agree to the applicable fees. Such fees will also be displayed in your transaction history upon completion of the transaction.

 

13. ACCOUNT SECURITY

CASTLE EXCHANGE takes security very seriously and have measures in place to protect your CASTLE EXCHANGE Account. However, you are solely responsible for:

  • maintaining adequate security and control over your CASTLE EXCHANGE Account sign-in details, including but not limited to any passwords, personal identification numbers (PINs), API keys, or any other codes associated with your CASTLE EXCHANGE Account;
  • enabling any additional security features available to you, including the activation of two factor authentication on your CASTLE EXCHANGE account;
  • keeping your contact details up to date so that you can receive any notices or alerts we may send to you in relation to security (see ‘Electronic Communications’ section contained herein);
  • maintaining security and control over the email mailbox, phone number and two-factor authentication applications or devices associated with your CASTLE EXCHANGE Account.

Failure to take the above measures, and any other security measures available to you, may result in unauthorised access to your CASTLE EXCHANGE Account and the loss or theft of any digital currency and/or Local Currency balances held in your CASTLE EXCHANGE Wallet or any linked bank account(s). CASTLE EXCHANGE shall have no liability to you for or in connection with any unauthorised access to your CASTLE EXCHANGE Account, where such unauthorised access was due to no fault of CASTLE EXCHANGE, and/or any failure by you to act upon any notice or alert that we send to you.

The security of your CASTLE EXCHANGE Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. CASTLE EXCHANGE strongly recommends that you regularly use reputable virus screening and prevention software and remain alert to the fact that SMS, email services and search engines are vulnerable to spoofing and phishing attacks.

Care should be taken in reviewing messages purporting to originate from CASTLE EXCHANGE and, should you have any uncertainty regarding the authenticity of any communication, you should log in to your CASTLE EXCHANGE Account through the CASTLE EXCHANGE website (specifically, ‘castle-x.com’, and not any other domain name or website purporting to be, or to be related to, CASTLE EXCHANGE) to review any transactions or required actions.

To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your CASTLE EXCHANGE Account and accept all risks of any unauthorised or authorised access to your CASTLE EXCHANGE Account.

Private keys. CASTLE EXCHANGE securely stores all Supported Digital Currency private keys (“Private Keys”) associated with any CASTLE EXCHANGE Account. You accept and agree that CASTLE EXCHANGE shall retain full ownership and control of the Private Keys associated with your CASTLE EXCHANGE Account and that you shall have no control of, access to, or the ability to use, such Private Keys. For example, but without limiting the generality of the foregoing, CASTLE EXCHANGE will not:

  • accept or adhere to any instruction to sign any data with a Private Key;
  • give access to any funds associated with your Private Keys, other than those of the Supported Digital Currency associated with your CASTLE EXCHANGE Wallet;
  • allow the creation of any receive addresses associated with a Private Key other than receive addresses created through your CASTLE EXCHANGE Wallet. CASTLE EXCHANGE will not credit to your CASTLE EXCHANGE Wallet any digital currency associated with a Private Key other than where such funds have been received via a receive address generated through your CASTLE EXCHANGE Wallet

 

14. SERVICE AVAILABILITY

While we will do everything we can to provide continuous operations, CASTLE EXCHANGE does not provide any warranty in relation to the availability of the CASTLE EXCHANGE Site or your CASTLE EXCHANGE Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the CASTLE EXCHANGE Site or your CASTLE EXCHANGE Account and make no representation that the CASTLE EXCHANGE Site, CASTLE EXCHANGE API, your CASTLE EXCHANGE Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.

 

15. TRANSACTIONS ON DIGITAL CURRENCY NETWORKS

When you use your CASTLE EXCHANGE Account to send or receive digital currency, the transaction must be confirmed and recorded in the public ledger associated with the relevant digital currency network (e.g. the Bitcoin network or the Ethereum network). That digital currency network is solely responsible for verifying and confirming any such transactions. CASTLE EXCHANGE cannot confirm, cancel or reverse transactions on a digital currency network, other than confirming to you that the network has completed the transaction. You accept and agree that:

  • Once submitted to a digital currency network, a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your CASTLE EXCHANGE Wallet balance or be available to you to conduct transactions;
  • When you send digital currency from your CASTLE EXCHANGE Account, you are authorising us to submit your transaction request to the relevant digital currency network. Once a transaction request has been submitted to the relevant digital currency network, the network will automatically complete or reject the request and neither you or CASTLE EXCHANGE will be able to cancel or otherwise modify your transaction.
  • Digital currency networks are operated by decentralised networks of independent third parties. They are not owned, controlled or operated by CASTLE EXCHANGE, so we cannot ensure that any transaction details you submit will be confirmed by the relevant digital currency network. You agree that any transaction details you submit may not be completed, or may be substantially delayed, by the digital currency network used to process the transaction.

Network protocols and operating rules. The underlying software protocols that govern the operation of the Supported Digital Currencies are open source. Accordingly, anyone can use, copy, modify, and distribute them and CASTLE EXCHANGE has no ownership of or control over these protocols. By using the CASTLE EXCHANGE Site, you accept and agree that:

  • CASTLE EXCHANGE is not responsible for the operation of any digital currency network’s underlying software protocols and makes no guarantee as to their availability, security, or functionality;
  • the underlying software protocols are subject to sudden changes in operating rules (known as “forks”), and that such forks may materially affect the value, function, and/or name of any digital currency you store in your CASTLE EXCHANGE Account. Should a fork occur, CASTLE EXCHANGE may, with or without notice to you, temporarily suspend our operations and, in our sole discretion, decide whether or not to support either branch of the forked protocol entirely; and
  • in the event CASTLE EXCHANGE decides not to support a branch of a forked protocol, you will not be given access to the assets on that fork. Those assets will be securely held by CASTLE EXCHANGE and we will not buy or sell them, but returned to the user in a digital currency chosen by CASTLE EXCHANGE.

 

16. ACCOUNT INACTIVITY

Local Currency deposited into your CASTLE EXCHANGE Wallet may only be used for the purchase of Supported Digital Currencies and/or Withdrawal to an approved bank account). You must not use your CASTLE EXCHANGE Wallet for the purpose of storing Local Currency. Where any Local Currency in your CASTLE EXCHANGE Wallet is not used for a period exceeding three months, CASTLE EXCHANGE may charge and obtain from you an Inactivity Fee of USD10.00 per month (or the equivalent in your Local Currency), which shall be collected from the Local Currency held in your CASTLE EXCHANGE Wallet. Should we have reasonable grounds on which to suspect you are using your CASTLE EXCHANGE Wallet primarily for the purpose of storing Local Currency, CASTLE EXCHANGE reserves the right to restrict, suspend or terminate your CASTLE EXCHANGE Account.

Unclaimed property. In the event any funds are held in your CASTLE EXCHANGE Wallet(s) and CASTLE EXCHANGE has no record of any use of your CASTLE EXCHANGE Account for several years, and we are unable to contact you, the law in your jurisdiction may require us to report and deliver such funds to the relevant authorities as unclaimed property. To the extent permitted by applicable law, CASTLE EXCHANGE reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds.

 

17. CLOSURE OF YOUR ACCOUNT

You may close your CASTLE EXCHANGE Account by submitting a closure request via the Support Team email: info@castle-x.com. CASTLE EXCHANGE will action such requests once (i) the sum of all Local Currency and digital currency balances in your CASTLE EXCHANGE Wallet(s) is below the Minimum Closure Amount; and (ii) no transactions have taken place in your CASTLE EXCHANGE Account for a period of at least 30 days. Such requirements are designed to protect you from loss and CASTLE EXCHANGE will not action a closure request until they are satisfied.

You accept and acknowledge that, once your CASTLE EXCHANGE Account is closed:

  • you will have no further access to it;
  • CASTLE EXCHANGE will be under no obligation notify you of, or provide to you, any digital currency sent to any receive address associated with your CASTLE EXCHANGE Account; and
  • CASTLE EXCHANGE reserves the right (but has no obligation) to delete all of your information and account data stored on our servers, and also reserves the right to retain any information that is required for legal or operational reasons.

If, at the date of closure of your account, any Local Currency or digital currency remains in your CASTLE EXCHANGE Wallet(s) (i.e. funds amounting to less than the Minimum Closure Amount), you accept and agree that CASTLE EXCHANGE shall retain such funds and that you shall have no further claim to them. The Minimum Closure Amount shall be USD10.00 or the equivalent in your Local Currency.

You accept and agree that CASTLE EXCHANGE shall not be liable to you or any third party in relation to the closure of your CASTLE EXCHANGE Account, the termination of access to your CASTLE EXCHANGE Account, or for the deletion of your information or CASTLE EXCHANGE Account data.

 

18. RESTRICTION, SUSPENSION AND TERMINATION

CASTLE EXCHANGE reserves the right to restrict, suspend or terminate your CASTLE EXCHANGE Account where:

  • we reasonably suspect your CASTLE EXCHANGE Account to be the subject of an operational or other error, in which case we may be required to suspend access to your account until such time as the error is rectified;
  • we reasonably suspect your CASTLE EXCHANGE Account has been or is being used in relation to any unlawful, fraudulent or ‘Prohibited Activity’ (as contained herein), or in breach of these Terms;
  • we reasonably suspect you or your CASTLE EXCHANGE Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;we reasonably suspect you of taking any action that CASTLE EXCHANGE considers to be a circumvention of CASTLE EXCHANGE’s controls, including but not limited to opening multiple CASTLE EXCHANGE Accounts;
  • we reasonably suspect your involvement in any attempt to gain unauthorised access to any CASTLE EXCHANGE Account;
  • your CASTLE EXCHANGE Account is, or appears to be, the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your CASTLE EXCHANGE Account;
  • we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or
  • your name appears on a government or international body sanctions list.
  • CASTLE EXCHANGE will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your CASTLE EXCHANGE Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise CASTLE EXCHANGE’s security and/or risk management procedures. You accept and agree that CASTLE EXCHANGE is under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your CASTLE EXCHANGE Account, and shall have no liability to you in connection with the restriction, suspension or termination of your CASTLE EXCHANGE Account.

 

19. USE OF CASTLE EXCHANGE API

This section applies to any use of CASTLE EXCHANGE’s Application Programming Interface (API) and any associated documentation or materials (together, the “CASTLE EXCHANGE API”) if, as and when it becomes available. Any use of the CASTLE EXCHANGE API is subject to this section and, for the avoidance of doubt, the Terms in their entirety.

CASTLE EXCHANGE sets and enforces limits on the use of the CASTLE EXCHANGE API (e.g. limiting the number of requests per second). No one is to make use of the CASTLE EXCHANGE API without first requesting and being given the expression written consent to do so. You accept and agree that any circumvention of, or attempt to circumvent, these limits, or any use of the CASTLE EXCHANGE API that may adversely affect other users of the CASTLE EXCHANGE Site, may result in CASTLE EXCHANGE, at its sole discretion, revoking your access.

Once permission is granted to use the CASTLE EXCHANGE API, any use of the CASTLE EXCHANGE API is entirely at your own risk. It is your responsibility to keep any API keys, passwords or other credentials relating to your use of the CASTLE EXCHANGE API secure, and you accept and agree that you take full responsibility for any and all requests made over the API, whether authorised by you or not.

 

20. FINANCIAL ADVICE

Under no circumstances does any information contained on the CASTLE EXCHANGE Site, or provided to you through your CASTLE EXCHANGE Account or by any employee, agent or affiliate of CASTLE EXCHANGE, constitute financial, investment or other professional advice.

You are solely responsible for any decision to store, buy or sell digital currency, and such decision should take into account your risk tolerance and financial circumstances. For more information on the risks involved, see the ‘Risks’ section contained herein. You should consult your legal or tax professional in relation to your specific situation.

 

21. TAXES

You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your CASTLE EXCHANGE Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.

 

22. EXPORT CONTROLS AND SANCTIONS

Your use of the CASTLE EXCHANGE Site is subject to international export controls and economic sanctions requirements. By undertaking any activity on the CASTLE EXCHANGE Site or through your CASTLE EXCHANGE Account, including but not limited to sending, receiving, buying, selling, storing or trading any digital currency, you agree that you will at all times comply with those requirements. In particular, and without any limitation to the generality of the foregoing, you may not open, use, or have access to any CASTLE EXCHANGE Account if:

  • you are in or under the control of, or resident of, any country subject to United States embargo, UN sanctions, the HM Treasury financial sanctions regime, or if you are on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime; or
  • you intend to supply any acquired or stored digital currency, or transact with people or businesses operating in any country subject to United States embargo or HM Treasury's financial sanctions regime, or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime.

 

23. PROHIBITED ACTIVITIES

You must not use your CASTLE EXCHANGE Account to undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”):

  • violation of any laws, statutes, ordinance or regulations;
  • undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
  • abusive activity, including but not limited to:
    • imposing an unreasonable or disproportionately large load on CASTLE EXCHANGE’s infrastructure, or otherwise taking any action that may negatively affect the performance of the CASTLE EXCHANGE Site or CASTLE EXCHANGE’s reputation;
    • attempting to gain unauthorised access to the CASTLE EXCHANGE Site or any CASTLE EXCHANGE Account;
    • transmitting or uploading any material to the CASTLE EXCHANGE Site that contains viruses, Trojan horses, worms, or any other harmful programmes; or
    • transferring your CASTLE EXCHANGE Account access or rights to your CASTLE EXCHANGE Account to a third party, unless as required by law or with CASTLE EXCHANGE’s prior consent.
  • paying in to or otherwise supporting pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes or high-yield investment programmes;
  • fraudulent activity, including but not limited to taking any actions that defraud CASTLE EXCHANGE or a CASTLE EXCHANGE customer, or the provision of any false, inaccurate, or misleading information to CASTLE EXCHANGE;
  • transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; are considered obscene; or may be stolen goods or the proceeds of crime;
  • transactions involving TOR markets, online gambling sites or mixers;
  • sale or purchase of narcotics or controlled substances;
  • intellectual property infringement.

By opening a CASTLE EXCHANGE Account, you confirm that you will not use your account to undertake any of the above-listed Prohibited Activities or any similar or related activity.

Activities subject to the prior written approval of CASTLE EXCHANGE. 

Unless you have obtained the prior written approval of CASTLE EXCHANGE, you accept and agree that you will not use your CASTLE EXCHANGE Account to conduct or operate any of the following business activities or categories of activity:

  • money services, including but not limited to money or digital currency transmission, currency or digital currency exchange or dealing, payment service providers, e-money or any other financial services business;
  • gambling or gaming services;
  • charitable or religious / spiritual organisations;
  • consumer lending services, including but not limited to secured and unsecured loans, cash advances, payday lending;
  • investment funds, asset management, or brokerage services.

We reserve the right to restrict, suspend or terminate your CASTLE EXCHANGE Account if we suspect, in our sole discretion, that you are using, or have used, your CASTLE EXCHANGE Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of CASTLE EXCHANGE.

 

24. DISCLAIMER OF WARRANTIES

The CASTLE EXCHANGE Site, your CASTLE EXCHANGE Account and any related products or services are offered on a strictly “as-is” and “where-available” basis and CASTLE EXCHANGE expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the CASTLE EXCHANGE Site, your CASTLE EXCHANGE Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

 

25. LIMITATION OF LIABILITY

In no event shall CASTLE EXCHANGE, its operating entities or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of the CASTLE EXCHANGE Site and/or your CASTLE EXCHANGE Account, including without limitation any damages caused by or resulting from any reliance upon any information received from CASTLE EXCHANGE, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to CASTLE EXCHANGE’s records, programmes or services.

In no event will any liability of CASTLE EXCHANGE, its operating entities or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of the CASTLE EXCHANGE Site or your CASTLE EXCHANGE Account, exceed (in aggregate) the fees earned by CASTLE EXCHANGE in connection with your use of your CASTLE EXCHANGE Account in the six month period immediately preceding the event giving rise to the claim for liability.

The above limitations of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

 

26. INDEMNITY

To the maximum extent permitted by law, you agree to indemnify CASTLE EXCHANGE, its operating entities or any other affiliates (including their respective directors, members, employees or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to the CASTLE EXCHANGE Site and/or your CASTLE EXCHANGE Account, or from your violation of these Terms.

You agree to defend, hold harmless and hereby indemnify us and each of our directors, employees, agents and brokers (each an “Indemnified Party”) from and against any loss, damage, cost, claim, proceeding, penalty, fine or expense, including legal fees, incurred by or suffered by any Indemnified Party which arises out of, or relates to, directly or indirectly: (i) your use of the services, (ii) your failure to fully and timely perform any of your obligations in these terms and conditions, including any failure to remit fiat currency or cryptocurrency to us following acceptance of a trade; and (iii) any of your representations or warranties made by you in these terms and conditions being, at any time, untrue or incorrect.

 

27. DISPUTES

You and we agree to notify the other party in writing of any claim or dispute that arises in relation to the CASTLE EXCHANGE Site, your CASTLE EXCHANGE Account or these Terms, within 30 days of such claim or dispute arising. You and we further agree to attempt informal resolution of any Dispute prior to bringing a claim in any court or other body.

Governing law and jurisdiction. This agreement shall be governed by and construed in accordance with UK law, subject to any local mandatory rights you may have. You and we agree to submit all disputes, claims or controversies (including non-contractual Disputes, claims or controversies) arising out of or in connection with these Terms, or the breach, termination, enforcement or interpretation thereof (together, Disputes), to the non-exclusive jurisdiction of the courts of the United Kingdom.

Class or representative action waiver. To the maximum extent permissible by law, you and CASTLE EXCHANGE each agree that each may bring any Dispute against the other only in your or its individual capacity, and you and it waive any right to commence or participate in any class action or other representative action or proceeding against the other. Further, where permissible by law, unless both you and CASTLE EXCHANGE agree otherwise, no court may consolidate any other person’s claim(s) with your Dispute, and may not otherwise preside over any form of representative or class proceeding.

For the avoidance of doubt, if this Class or representative action waiver is found by any court of competent jurisdiction to be invalid, void or unenforceable, the remainder of this Disputes clause shall remain valid and enforceable.

 

28. MISCELLANEOUS

Entire agreement. These Terms constitute the entire agreement and understanding between you and CASTLE EXCHANGE with respect to their subject matter and supersede any and all prior discussions, agreements and understandings of any kind between you and CASTLE EXCHANGE (including but not limited to any prior versions of these Terms).

Severability. If any provision of these Terms, as amended from time to time, is determined to be illegal, invalid or unenforceable, in whole or in part, under any law, such provision or part thereof shall to that extent be deemed not to form part of these Terms but the legality, validity and enforceability of the other provisions in these Terms shall not be affected and everything else in these Terms will continue in full force and effect.

In the event any provision or part thereof of these Terms is determined to be illegal, invalid or unenforceable, that provision or part thereof shall be replaced by the parties with a legal, valid and enforceable provision or part thereof that has, to the greatest extent possible, a similar effect as the illegal, invalid or unenforceable provision, given the content and purpose of these Terms.

Assignment. You may not assign or transfer any of your rights or obligations under these Terms without CASTLE EXCHANGE’s prior written approval. You give CASTLE EXCHANGE your approval to assign or transfer these Terms in whole or in part, including but not limited to: (i) a subsidiary or affiliate; (ii) an acquirer of CASTLE EXCHANGE’s equity, business or assets; or (iii) a successor by merger.

Change of control. In the event that CASTLE EXCHANGE is acquired by or merged with a third party, we reserve the right to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.

Force Majeure. CASTLE EXCHANGE shall not be liable for any delays, failure in performance or interruption of service which result directly or indirectly from any cause or condition beyond our reasonable control, including but not limited to, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, 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 our reasonable control.

Survival. All provisions of these Terms that by their nature extend beyond the expiry or termination of these Terms, including but not limited to, sections relating to the suspension or termination of your CASTLE EXCHANGE Account, use of the CASTLE EXCHANGE Site, disputes with CASTLE EXCHANGE and general provisions, shall survive the termination of these Terms.

Headings. Section headings in these Terms are for convenience only, and shall not govern the meaning or interpretation of any provision of these Terms.

English language controls. Notwithstanding any other provision of these Terms, any translation is provided solely for your convenience. The meanings of terms, conditions and representations herein are subject to definitions and interpretation in the English language. Any translation provided may not accurately represent the information in the original English.

 

29. Confidentiality and Disclosure of Information

(a) All client information supplied to us as part of the client on-boarding (KYC) process and thereafter is held in accordance with our Privacy Policy, which is available on the CASTLE EXCHANGE apps and website.

(b) Save as set out in (c) below, we agree to keep confidential and not disclose any personal information relating to you, including name, address, email address and banking details, or any of the trades you have made with us (“Personal Information“) without your written consent.

(c) We will disclose, in our absolute discretion and without notice to you, Personal Information with law enforcement, taxation authorities, data protection authorities, government officials, and other regulatory authorities when:

(i) Required by law;

(ii) Compelled by court order, or other legal procedure; or

(iii) Disclosure is necessary to report suspected illegal activity.

(d) With respect to US residents, we also may share your information with other financial institutions as authorized under Section 314(b) of the US Patriot Act, and with tax authorities, including the US Internal Revenue Service, pursuant to the Foreign Account Tax Compliance Act (“FATCA”), to the extent that this statute may be determined to apply to us.

 

30. Complaints

Any complaints should be directed to our Support Team on ‘info@castle-x.com’.

In order to allow us to investigate your complaint promptly and effectively, you should provide us with full details of the circumstances giving rise to your complaint including, if applicable, details of the time and date of any relevant actual or purported order or trade.

We reserve the right not to commence investigations until such details are provided. We will investigate the complaint promptly and fully in accordance with our Complaints Policy, which is available on request. We are not covered by the Financial Services Compensation Scheme.

 

31. Intellectual Property

The CASTLE EXCHANGE trademarks and logos are our property. They 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.

 

32. Our Relationship

We are an independent contractor for all purposes. Nothing in these terms and conditions shall be deemed or is intended to be deemed, nor shall it cause, you and us to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or us to be treated as the agent of the other.

 

33. Jurisdiction

(a) These Terms constitute the entire agreement between the parties with respect to the matters covered hereby and supersedes all previous written, oral or implied understandings between them with respect to such matters.

(b) The operation of the Contracts (Rights of Third Parties) Act 1999 is hereby excluded.

(c) These Terms shall be governed and construed in accordance with English law. The parties agree to irrevocably submit to the exclusive jurisdiction of the English courts.