Terms of Service for ethx.in
TERMS & CONDITIONS
- Ethx.in allows buyers and sellers to buy and sell ethers (ETH) in exchange for India rupees (INR).
- Our service is only open to Indian nationals above the age of 18 years old.
- To use our service you must agree and comply with the Terms and Conditions as described on this page. If you do not accept the Terms and Conditions as per this agreement, you are not allowed to use Ethx.in, or any of our related services.
- By using Ethx.in, you, the "User", agree to accept the Terms and Conditions as stated below. "Ethx.in" refers to the this site: Ethx.in, and the company behind the brand, Soul Machine Innovations Private Limited, including without limitation: its owners; directors; investors; employees or other related parties.
- Depending upon the context of the information, Ethx.in may also refer to our services, products, site, content and any other material.
-As a user of Ethx.in you confirm that you have no legal connection to the United States of America, including but not limited to residence, tax status, banking relationship, or any other ties. Failure to disclose this information at time of sign up will be considered a breach of these terms.
As a user of Ethx.in, you understand the following:
- Ether has historically been a highly volatile asset.
As such, investing and speculating in the currency involves significant risk. It is your sole responsibility to assess whether you can manage the risk associated with trading in ethers.
- Ethers are yet unregulated in India
Regulation may limit or prohibit the usage of ethers in India, thus restricting their value. New legislation may also affect the operations of Ethx.in, which, as a registered company in India, will comply with all relevant laws and regulation.
- The existence of Ether as a currency is dependent on the Ethereum protocol.
Should the protocol and/or network for some reason cease to exist, be interrupted, prohibited, or otherwise blocked, this will significantly affect the usage and value of ethers.
- There may also be additional risks and uncertainties that have not been mentioned in these Terms and Conditions. Please understand the implications of trading in Ether before signing up.
As a user, you agree to provide Ethx.in with accurate and complete information about yourself, and to keep such information updated at all times.
You are also responsible for maintaining the confidentiality of your account information, including the integrity of the bank details and ether account you use in order to receive ethers from us. Ethx.in may, at any time, request you to re-submit documentation deemed necessary to verify your identity.
You are obligated to comply with these security requests, or accept termination of your account. You are required to notify Ethx.in immediately of any unauthorized use of your account, or any other breach of security. Users who violates these rules may have their accounts terminated and thereafter held liable for losses incurred by Ethx.in or any other Ethx.in user.
Finally, you agree that you will not use Ethx.in to perform criminal activity of any sort, including but not limited to: fraud; money laundering; illegal gambling operations; terrorist financing, or malicious hacking.
WHAT ARE YOUR FEES?
- Ethx.in charges a 0.25% fee on all trades (including GST).
Transfers to and from your wallet via NEFT and RTGS are free of charge.
- Ether Withdrawal fee can be found on “Ether” >> Send/Request Page >>
As a user of Ethx.in you may, at any time, terminate your account, as soon as pending transactions have been settled.
Similarly, Ethx.in also reserves the right to terminate your account or otherwise adjust your account privileges. This includes, but is not limited to, suspending or terminating the service, prohibiting access to Ethx.in, and taking technical and legal steps to prevent a user from accessing the service. Reasons for this may include, but are not limited to: if a user is perceived to be creating problems or possible legal liabilities; infringing the intellectual property rights of Ethx.in or third parties; or acting inconsistently with these Terms of Conditions. Additionally, we may, at our discretion, suspend or terminate accounts for any reason, including without limitation: attempts to gain unauthorized access; other reasons of unauthorized usage; suspicion that the account is being used to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities; failure to pay fees; unexpected operational difficulties, or upon the request of law enforcement or other government agencies. We also reserve the right to terminate accounts that have been inactive for a period of 3 months or more.
ADDITIONAL TERM & TERMINATION
User and Ethx.in agree and confirm the following terms for continuation, suspension, cancellation or termination of this agreement.
This Agreement shall come into effect upon confirmation of the terms by the User herein and subsist till termination of the same upon any of the reasons set out hereunder (“Term”).
Ethx.in reserves the right to suspend or terminate a User account for the following among other reasons (“Termination”).
Ethx.in shall suspend and after verification terminate a User account immediately upon the occurrence of any of the following:
a. Use of the account for suspicious or illegal activities;
b. Failure of User to comply with the KYC norms;
c. Misrepresentations or misstatements by Users;
d. Failure of Users to update KYC details, when called upon;
e. Failure of Users in complying with the User Guidelines set out above or default in complying therewith or willful violation thereof;
f. Violation of the terms hereof or of any of the Policies, Rules and Code of conduct prescribed by Ethx.in from time to time, by a User, which is not remedied despite receipt of notice, within the time set out in such communication, for such remedial action;
g. Inactive accounts lying dormant for over six months;
1. In addition to the above the following actions shall give the right but not the obligation for Ethx.in to suspend and thereafter terminate the User Account:
1. attempts to gain unauthorized access to Ethx.in App and Services or another Member’s account or providing assistance to others’ attempting to do so;
2. Overcoming software security features limiting use of or protecting any content or attempts to initiate such illegal actions;
3. if Ethx.in has reasonable apprehension that User may be misusing the Ethx.in Services for illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, or if there are unaccounted for income or monies retained in the Ethx.in account by the User;
5. Failure to pay dues owed to Ethx.in including commissions or refund of erroneous transfer of monies or cryptocurrencies;
6. Undertaking fraudulent transactions by User through the Ethx.in Services or unaccounted for transactions or suspicious transactions for which User fails to provide suitable explanation despite service of notice by Ethx.in calling for the same;
2. Ethx.in may also suspend and thereafter terminate accounts for the following reasons:
a. Technical errors or glitches resulting in suspension of Ethx.in Services in part or full;
b. Regulatory, Statutory or Judicial Orders;
c. If continuation of Ethx.in Services is difficult or impossible due to technical or operational issues or due to change in the legal, regulatory or statutory provisions;
d. In the event of unexpected operational difficulties arising;
e. Upon receipt of legally sustainable requests from law enforcement or other government agencies;
3. Each of the instances set out above may be invoked to suspend and thereafter terminate this Agreement or to directly terminate this Agreement.
4. In addition to the above, if either party suffers the following disability, this Agreement shall stand automatically terminated if either party (a). becomes insolvent; (b). makes an assignment for the benefit of creditors; (c). files a petition for bankruptcy; (d). takes steps to dissolve or liquidate; or (e). appoints a trustee or receiver for all or any part of its assets.
5. Either Party may also terminate this Agreement at any time upon issuance of prior written notice to the other party informing its intent to terminate.
6. The terms of this Agreement, which by their very nature survive termination of this Agreement shall subsist. Without prejudice to the generality of the above, provisions pertaining to IPR, Confidentiality, Privacy, Governing Law, Dispute Resolution and choice of jurisdiction shall survive termination or cancellation of this Agreement.
Process for Termination Ethx.in may terminate the Agreement forthwith for any of the reasons set out above or first suspend the account pending verification and thereafter issue a communication of termination. Each of the instances set out above may be invoked for instantaneous termination or cancellation of the User Account including for misrepresentations or furnishing of false details or documents by User when opening the account; use of the account for illegal or wrongful purposes; violation of any of the User Guidelines set out above; change in the statutory or regulatory provisions or due to an order of Court. User agrees and confirms that Ethx.in shall not be held liable for any action taken in good faith for suspension, cancellation and / or termination. The onus of proving bad faith shall be on the User. In any event damages shall not exceed the amounts credited in the User Account, as on the date of suspension, cancellation or termination, whichever is earlier.
Consequences of Termination
a. Upon termination of this Agreement or earlier determination, the following consequences shall ensue:
i. The Ethx.in User Account and rendering of the Ethx.in Services shall stand immediately terminated. User shall not be entitled to access or use the Ethx.in Account or avail of any of the Ethx.in Services;
ii. Ethx.in shall cease to be liable or responsible to User except to the extent of the amounts in the User account. This liability is also subject to Ethx.in being able to convert the cryptocurrencies into INR for disbursement to User. In the event that Ethx.in is unable to do so due to legal or regulatory restrictions, User shall bear the loss or damage arising from termination of the Agreement and loss of the cryptocurrencies including ethereum lying in the User Account;
iii. Parties shall be entitled to the rights and dues already accruing to them.
iv. Ethx.in shall be entitled to retain / deduct amounts due to it from the User and transfer or refund the balance lying in the User Account, except when it is unable to do so in compliance with applicable laws. Transfers shall be to any other cryptocurrency account or wallet specified by User and refund shall be in Indian Rupees;
v. User agrees that Ethx.in will not be liable to User or to any third party for termination of the User Account or restricting access to the Ethx.in Services;
vi. User shall be entitled to recover the amounts lying in the Ethx.in account, as on the date of termination, subject to deductions and payments to Ethx.in or under law.
vii. Permissions and licenses granted to User under this Agreement shall cease immediately upon Termination of this Agreement and the User shall not be entitled the same in any manner whatsoever;
viii. User shall return to Ethx.in any proprietary / IP protected materials or content and / or affirm deletion thereof immediately upon termination of this Agreement.
To the extent permitted by law, Ethx.in will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or willful deceit or fraud by Ethx.in.
Subject to the foregoing, the aggregate liability shall, in no circumstances, exceed the greater of either the total amount held on the account by a user making the claim or the amount of the transaction that is the subject of the claim.
As a user, you agree to indemnify Ethx.in and its partners, against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your usage of Ethx.in, or from your violation of these Terms and Conditions.
The Terms and Conditions shall be governed and construed in accordance with the Indian Law applicable at the time.
The parties agree to irrevocably submit to the exclusive jurisdiction of the Indian courts.
MODIFICATION OF TERMS
Ethx.in reserves the right to change, add, or remove portions of these Terms and Conditions, at any time, in an exercise of its sole discretion.
Maintaining Your Account: Our Rules
The Website is for your personal and non-commercial use only. We are vigilant in maintaining the security of our Website and the Service. By registering with us, you agree to provide Company with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.
The creation or use of Accounts without obtaining the prior express permission from Company will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated, in addition to Ethx.in, at its sole discretion, initiating any civil or criminal legal action against you and such others.
You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Ethereum, and for all activity including transactions that are posted to your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, otherwise Ethx.in, at its sole discretion, may choose to terminate your Account. You are required to notify Ethx.in immediately of any unauthorized use of your Account or password, or any other breach of security by an email addressed to firstname.lastname@example.org. The membership of a Member who violates these rules may be terminated, and further be also held liable for losses incurred by Company or any user of the Website.
You hereby agree that you shall not use the Website or our Service, in connection with any activity violating any law, statute, ordinance, or regulation. Further, you shall not deposit Ethereum into your Ethx.in wallet that is obtained through illegal activities and you will also not use the Service to perform an illegal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. Source of Ethereum paid to your Ethx.in wallet is not known to Ethx.in and you hereby agree to ensure that it always comes from legitimate sources. Ethx.in only acts as information intermediary as far as your Ethx.in wallet is concerned. In case of any technical or manual error that happens from Ethx.in, the Company will take the steps to do the needed corrections including the involved transactions and/or records and will intimate you about the correction in the timely manner. If such correction create a liability on you, then you will be required to clear that liability and keep your account in good standing failing which the Company can take technical and legal actions against you to recover the liability.
You may terminate this agreement with Company, and close your Account at any time, following settlement of any pending transactions.
We also reserve the right to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Website or Service. Members agree that Ethx.in will not be liable to them or to any third party for termination of their Account or access to the Website.
You hereby agree that the suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members will receive any monies owed to them via their registered bank account with Ethx.in.
All Services are provided without warranty of any kind, either express or implied. While we strive to provide you with the uninterrupted Service, we do not guarantee that the access to this Website will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.
Our business model, and our Service, consists of facilitating the buying, selling, sending and receiving of Ethereum, and their use to purchase goods in an unregulated yet responsible, international open payment system. The Service we provide is currently unregulated within India.
Email messages sent over Internet are not always secure and Ethx.in is not responsible for any damages incurred by the result of sending email messages over the Internet. We recommend sending sensitive emails by visiting ‘contact-us’ form on the Website where the information passes under security layer and is encrypted.
Limitation of Liability
Users of this website are responsible for their actions in connection with the use of the Website, Service, and their Accounts. Users are also responsible for protecting access information to the Website including, but not limited to, user names, passwords, and bank account details. Ethx.in is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to the Website. Some deposits and withdrawal methods require Ethx.in to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that Ethx.in can use these information to facilitate deposits and withdrawals.
Accuracy / Reliability of / Liability for Information published on website
a. This Agreement shall bind and inure to the benefit of the parties, and their respective successors and permitted assigns.
a. The invalidity or unenforceability of any provision of this Agreement shall not in any way affect, impair or render unenforceable this Agreement or any other provision contained herein, which shall remain in full force and effect.
b. This Agreement shall be considered divisible as to such provision, which is deemed to be invalid or unenforceable and the remainder of this Agreement shall be enforceable and binding on the Parties.
a. No provision of this Agreement may be waived or changed except by a writing signed by the party against whom such waiver is sought to be enforced. The failure or omission by either party at any time to enforce or require strict or timely compliance to any provision of this Agreement shall not affect or impair that provision or any other provision in any way or the rights of such party hereof, to avail itself of the remedies it may have in respect of any subsequent breach of that or any other provision.
a. The Recitals, Schedules and Annexures in this Agreement shall form part of this Agreement and the contents thereof shall be read into this Agreement. Headings are for the purpose of easy reference and shall not affect the meaning or interpretation of this Agreement.
a. This Agreement, and the other agreements contemplated hereby, constitute the entire agreement.
a. User shall be solely responsible and liable for ensuring payment of all applicable taxes arising due to or pursuant to execution of these terms or availing of Ethx.in Services.
b. Ethx.in shall not be responsible for either determining the tax liability of the User or for collecting, reporting or remitting any taxes arising from any transaction.
c. The above is subject to any changes to the statutory or regulatory process under applicable laws.
a. None of the provisions of this Agreement shall be deemed to constitute a partnership between the parties hereto and no party shall have any authority to bind or shall be deemed to be the agent of the other(s) in any way. User shall not misrepresent or mislead or induce any person to avail of Ethx.in Services or to invest in any Cryptocurrency including Ethereum.
a. This Agreement is subject to confirmation by the Government of India of the legality of dealing in Cryptocurrencies including ethereum and in the event that the Government of India were to hold such dealing to be invalid or illegal in India, this Agreement shall stand automatically terminated without further notice to User. Ethx.in has given full disclosure of the current Government and regulatory status with respect to Cryptocurrencies including ethereum in India and the risk involved in dealing with or investing in the same. User is deemed to have understood, agreed to and accepted the risk and costs of such investment.
a. These terms may be periodically reviewed and revised. The revised draft will be uploaded on the Ethx.in Website and will reflect the modified date of the terms. User is required to periodically visit the website and review terms and any changes thereto.
b. Continued use of the Ethx.in Services constitutes agreement of User to the terms contained herein and any amendments thereto.
a. “Applicable Laws” means and refers to the laws of India including the Anti – Money Laundering laws contained in the Prevention of Money Laundering Act, 2002 and the Information Technology Act, 2000, as amended and other applicable laws of the land;
c. “Cryptocurrency”, means virtual currencies, which are open instruments usable on any online platform and which may be acquired or disposed off only as a digital transaction.
d. “INR” shall mean Indian Rupees.
Modification of Terms
We believe in being self-regulated and follow certain customer identification procedure for opening of accounts and monitoring transactions of a suspicious nature for the purpose of reporting it to appropriate authority.
We are committed to ensure that our website or services are not used to facilitate money laundering or the funding of terrorism or any other criminal activities. To fulfill this goal, we have designed our own know-your-customer/KYC and anti-money laundering/AML information acquiring system to safeguard our customers and ensure continuous, clean barter.
As a part of identification procedure, we need to obtain certain customer identification documents including a copy of PAN card and Adhaar from every customer. These processes make us know who are paying us money and whom we are sending money, without which our website and services can be used for money laundering and other illicit purposes.
1. Where can I see my Wallet Address?
Your wallet address can be found by the following path:
Go to: Ethx.in>Wallet>Deposits
The wallet address can be found at the bottom of the page
2. How can we transfer the amount(INR) to the wallet?
1. Transfer the amount to the account details available at the following path:
Go to: Ethx.in>Wallet>Deposits
2. Transfer the required amount(INR) to the bank account available on Deposits page.
3. Your amount will be reflected at the following page:
3. Can I have multiple wallets with Ethx.in?
- You can have only one wallet with ethx.in
4. How to transfer ETH to another wallet?
- Go to: Ethx.in>Wallet>withdrawal.
- Choose ETH from the drop down menu under Type of Request.
- Mention the beneficiary/receiver wallet address.
- Enter the ETH amount that need to be transferred.
- Enter the withdrawal confirmation code.
- Click the Submit button.
5. How to transfer ETH from another wallet?
- Go to: Ethx.in>Wallet>Deposits.
- Copy the wallet address available under "For Ether Deposits" .
- Use the copied address to transfer the funds from any other wallet.
6. I have deposited amount(INR) but it is not reflecting in my wallet.
-Deposits will reflect within 2-8. Hours of making the request, as they are manually reconciled.
7. When does the deposited ethers reflect in my wallet.
- After 14 confirmations it will be shown in your wallet. Time taken usually is 5 to 10 minutes.
8. Can I store ethers in Ethx.in wallet on long term basis. Is there any charge for storing the ethers.
- Yes you can store in Ethx.in wallet on long term basis. No charges will bee levied for storing the ethers.
9. What are the documents required for KYC.
List of documents required:
1. PAN Card
2. Aadhar card)
3. Photo with signature
10. Can I register without PAN?
- No. PAN is mandatory.
11. I am facing problem while uploading the KYC documents.
- Please check with the type and size of the files while uploading your documents. The size and type of the files is as follows:
• File types : JPG, PNG and PDF
• Size: Below 2 MB
12. I am not able to login in to the Ethx.in website.
- Please make sure that your Client ID and E-mail ID are correct. Also please check if there are any white spaces before your Client ID and E-mail ID in the fields. In case of any other difficulty please contact Ethx.in Support.
13. Can I have multiple accounts with Ethx.in?
- No. Only one account is allowed per individual.
14. Can I link/register multiple bank accounts with my Ethx.in account.
- No. You cannot link/register multiple bank accounts with your Ethx.in account.
15. What is the procedure to change bank details/mobile number.
- Please request Ethx.in Support to change the details by sending a mail to email@example.com.
16.a. WHAT IS THE MINIMUM AMOUNT TO TRADE?
- Our minimum amount is 0.01 ETH per trade.
22.b. What is the minimum amount(INR) for deposit/withdrawal.
- INR 1000 is the minimum deposit amount and withdrawal is INR 500.
23. What is the minimum for ETH withdrawals.
- The minimum for ETH withdrawals is 0.001 ETH.
24. WHAT ARE YOUR FEES?
- Ethx.in charges a 0.25% fee on all trades (including taxes).
- Transfers to and from your wallet via NEFT, RTGS and IMPS are free of charge.
25. When will the amount(INR) get credited into my bank account.
- The amount will credit into your account within 24 hours of the made request.
26. How do you identify that the amount transferred to Ethx.in is from my bank account?
- If you transfer the amount via IMPS, the amount is identified by your mobile number. If the amount is transferred via NEFT, then the amount is identified by your name.
27. Any charges for deposits and withdrawals with Ethx.in.
- No charges for deposits or withdrawals of ETH. However Payment gateway(PG) charges may apply for depositing INR with Ethx.in. Please refer to your PG for transaction charges. Traditional bank transfer do not have any charges.
28. Can I transfer the amount to Ethx.in through Credit/Debit Card?
- We have temporarily disabled that option but it would be available again soon.
29. Can I pay amount(INR) through cash deposit to Ethx.in?
- We do not accept cash deposits. Only amount credited from a registered bank account is accepted.
30. Would you accept if I have transferred amount(INR) from a different bank account other than the registered bank account?
- Funds from a different bank account other than registered with Ethx.in will not be accepted. If transferred from a different bank account, the funds will be returned within seven business days.
31. How to convert from ETH to INR?
- Go to: Ethx.in>Trade>Sell Ether. Your INR will be credited to your registered bank account.
32. How to convert from INR to ETH?
- After buying ethers using INR, go to: Ethx.in>Wallet>withdrawal to withdraw your ethers.
33. Can I cancel my order?
- You can cancel your order. No charges will be levied.
34. When I sell my ethers, when will be the amount(INR) transferred to my bank account.
- Please request an INR withdrawal.
35. Where can I get additional information about Ethereum?
- www.ethereum.org have resources to learn about Ethereum.
36. How can I mention the trading amount in IT returns to Income Tax Department.
- Ethx.in provides yearly statement of account of your trades. Please consult your tax consultant with the statement of account.
ANTI – MONEY LAUNDERING POLICY
Soul Machine , is a private limited company incorporated under the laws of India and having its registered office at House S6A, Sriniwas Puri Ext, New Delhi, India. Herein after referred to as “Company” or “Soul Machine”, which term shall refer to and include its owners, directors, investors, employees or other related parties. Persons availing of the Soul Machine Services, directly or indirectly, are referred to herein, as “Users”.
This is an agreement between Soul Machine and User, which is binding and requires mandatory compliance by User. Integrity, honesty and ethical business practices are some of the core values for Soul Machine . Soul Machine strongly condemns any and all activities related to money laundering and such other illegal actions. In order to prevent misuse of the Soul Machine Services, Users are required to strictly comply with the terms contained herein, which forms part and parcel of the User Terms of Service. Terms not defined herein shall carry the same interpretation, as in the User Agreement and in the absence thereof to general usage and parlance.
Users are required to read, review, understand and then agree to the terms hereunder for using or availing of the Soul Machine Services, before clicking the “I Accept” option.
This Anti-Money Laundering Policy (herein after referred to as the “AML Policy”) supersedes and replaces any and all prior oral or written understandings or agreements between Soul Machine and the User with respect to the AML Policy.
a) “Applicable Law” means the law in force for the time being within the territory of India;
b) “Suspicious Transaction” means a transaction, whether or not made in cash which, to a person acting in good faith:
i. give rise to a reasonable ground of suspicion that it may involve proceeds of an offense specified in the Schedule to the Act, regardless of the value involved; or
ii. appears to be made in circumstances of unusual or unjustified complexity; or
iii. appears to have no economic rationale or bona fide purpose; or
iv. gives rise to a reasonable ground of suspicion that it may involve financing of the activities relating to terrorism;
Explanation.—Transaction involving financing of the activities relating to terrorism includes transaction involving funds suspected to be linked or related to, or to be used for terrorism, terrorist acts or by a terrorist, terrorist organization or those who finance or are attempting to finance terrorism
II MAINTENANCE OF RECORDS
a) Soul Machine shall maintain a record of the following:
i. Details pertaining to User Transactions, including but not limited to:
a) the nature of the transactions;
b) the amount of the transaction and the currency in which it was denominated;
c) the date on which the transaction was conducted; and
d) the parties to the transaction.
ii. All suspicious transactions by way of:
a) deposits and credits, withdrawals into or from any accounts in whatsoever name they are referred to in any currency maintained by way of:
1. cheques including third party cheques, pay orders, demand drafts, or any other instrument of payment of money including electronic receipts or credits and electronic payments or debits, or
2. any other mode in whatsoever name it is referred to;
iii. credits or debits into or from any non-monetary accounts such as demat account, security account in any currency maintained by Soul Machine ;
iv. money transfer or remittances in favour of own Users or non-Users from India or abroad and to third party beneficiaries in India or abroad including transactions on its own account in any currency by any of the following:
a) demand drafts, or
b) telegraphic or wire transfers or electronic remittances or transfers, or
c) internet transfers, or
d) Automated Clearing House remittances, or
e) any other mode of money transfer by whatsoever name it is called;
v. letters of credit, standby letters of credit, guarantees, comfort letters, solvency certificates and any other instrument for settlement and/or credit support; (Client to Confirm if this should be retained.)
vi. collection services in any currency by way of the collection of bills, cheques, instruments or any other mode of collection in whatsoever name it is referred to. (Client to Confirm if this should be retained.)
III PROCEDURE AND MANNER OF MAINTAINING INFORMATION
a) Soul Machine will maintain hard and soft copies of the above-mentioned records of Transactions in accordance with the procedure and manner, as may be specified under applicable laws or regulations, from time to time.
b) In addition to the above, Soul Machine shall maintain records of transactions, as per its prevailing processes.
IV DISCLOSURE OF RECORDS
a) Soul Machine may be required and / or directed to cooperate and aid the government and / or law enforcement authorities, police, investigating agencies, or Tribunals and Courts within the territory of India or from outside the said territory.
a) In such cases, subject to applicable laws with respect to data protection, Soul Machine shall be entitled to disclose any information about the User that is in its possession or control, including to government or law enforcement officials, police, investigating agencies, Tribunals and Courts within the territory of India.
c) In particular, Soul Machine shall be entitled to initiate processes and disclosures, including but not limited to the following circumstances:
i. information pertaining to or in pursuance of claims and legal process (such as summons / warrants);
ii. to protect Soul Machine ’s property, rights, and safety and the property, rights, and safety of a third party or the public in general;
iii. to identify and stop any activity that Soul Machine considers illegal, unethical, or legally actionable.
V VERIFICATION PROCESS FOR USERS
a) Every User is compulsorily required to submit at the time of opening an account, documents and details as set out in this policy. Soul Machine is required to identify the said User based on the said documentation whenever an account is opened by a User.
b) Soul Machine shall determine the identity of the User and shall take all reasonable steps to verify Users identity.
c) Where the User is an individual, the User shall submit one copy of an officially valid document containing details of his/her permanent address or addresses, current address or addresses, and one copy of his/her recent photograph and such other documents including in respect of the nature of business and financial status of the client as may be required.
d) Where the User is a company, it shall submit to Soul Machine the following:(i) Certificate of incorporation; (ii) Memorandum and Articles of Association; (iii) a resolution from the Board of Directors for trading in ethereum; and other documents as may be requested.
e) Where the User is a partnership firm, it shall submit to Soul Machine one certified copy of the following documents: (i) registration certificate; (ii) partnership deed; and (iii) authorization letter for trading in ethereum; and other documents as may be requested.
f) Where the User is a juridical person, Soul Machine shall verify that any person purporting to act on behalf of such User is so authorized and shall verify the identity of that person.
g) Soul Machine shall exercise ongoing due diligence with respect to the business relationship with every User and closely examine the transactions in order to ensure that they are consistent with their knowledge of the User, his business and risk profile and where necessary, the source of funds.
h) In the event that it is brought to the attention of Soul Machine , that a particular User or account is maintained under a fictitious name, Soul Machine has the full right and authority to terminate and close such an account with immediate effect and without prior notice to the User.
i) If Soul Machine doubts the adequacy or veracity of previously obtained customer identification data, Soul Machine shall review the due diligence measures including verifying again the identity of the User and obtaining information on the purpose and intended nature of the business relationship, as the case may be.
VI OBLIGATION ON THE PART OF THE USER
a) The User hereby agrees and undertakes to not indulge, assist, abet and encourage in any manner whatsoever, in any activity involving money laundering or financing of any illegal or unlawful activities.
VII RETENTION OF RECORDS
a) Soul Machine shall maintain such records of the identity of Users in hard and soft copies in a manner, as may be specified under applicable laws or regulations, from time to time, and in the absence thereof, from the date of cessation of the transactions between the User and Soul Machine for a period of
i. Ten years for ordinary transactions and
ii. Twelve years in case of suspicious transaction
a) Any notice or other communication provided for in this Agreement shall be sent only through electronic mail. User hereby agrees to receive electronic or any other form of communication and notifications from Soul Machine . Email messages sent over the Internet are not always secure and Soul Machine is not responsible or liable for non-receipt of such communication by User. Once the email is dispatched by Soul Machine , it shall be deemed to have been served on the User. Soul Machine shall be deemed to have received communications from the User only upon actual receipt into the Inbox of the account of the person to whom such communication is addressed and acknowledged. Soul Machine shall not be liable or responsible for non-receipt of communications or for any damages incurred by the result of sending email messages over the Internet.
b) All communications to Soul Machine shall be at ticket.Soul Machine Innovations.com. Soul Machine shall ensure that any change or modification to the same is uploaded on the Soul Machine Website.
c) All communications to User shall be at the electronic mail address provided by User, as part of the KYC norms. User shall ensure that any change in the electronic mail address or communication option is duly intimated to Soul Machine .
IX GOVERNING LAW & JURISDICTION
a) This Agreement shall be governed by and construed in accordance with the laws of India.
b) The parties agree to irrevocably submit to the exclusive jurisdiction of the courts in Ahmedabad for the resolution of any disputes arising from this Agreement or in connection therewith or pursuant thereto.
a) This Agreement shall bind and inure to the benefit of the parties, and their respective successors and permitted assigns.
a) The invalidity or unenforceability of any provision of this Agreement shall not in any way affect, impair or render unenforceable this Agreement or any other provision contained herein, which shall remain in full force and effect.
b) This Agreement shall be considered divisible as to such provision, which is deemed to be invalid or unenforceable and the remainder of this Agreement shall be enforceable and binding on the Parties.
a) No provision of this Agreement may be waived or changed except by a writing signed by the party against whom such waiver is sought to be enforced. The failure or omission by either party at any time to enforce or require strict or timely compliance to any provision of this Agreement shall not affect or impair that provision or any other provision in any way or the rights of such party hereof, to avail itself of the remedies it may have in respect of any subsequent breach of that or any other provision.
a) The Recitals, Schedules and Annexures in this Agreement shall form part of this Agreement and the contents thereof shall be read into this Agreement. Headings are for the purpose of easy reference and shall not affect the meaning or interpretation of this Agreement.
a) This Agreement, and the other agreements contemplated hereby, constitute the entire agreement.
XV GOVERNMENT APPROVALS
a) This Agreement is subject to confirmation by the Government of India of the legality of dealing in Cryptocurrencies including ethereum and in the event that the Government of India was to hold such dealing to be invalid or illegal in India, this Agreement shall stand automatically terminated without further notice to User.
b) Soul Machine has given full disclosure of the current Government and regulatory status with respect to Cryptocurrencies including ethereum in India and the risk involved in dealing with or investing in the same. The User is deemed to have understood, agreed to and accepted the risk and costs of such investment.
XVI PRINCIPAL OFFICER / COMPLIANCE OFFICER
a) Soul Machine shall appoint a Principal Officer / Compliance Officer, along with setting up a Compliance Team, who shall be responsible for ensuring compliance, monitoring transactions, and sharing and reporting information as required under the law/regulations.
a) These terms may be periodically reviewed and revised. The revised draft will be uploaded on the Soul Machine Website and will reflect the modified date of the terms. The User is required to periodically visit the website and review terms and any changes thereto.
b) Continued use of the Soul Machine Services constitutes the agreement of User to the terms contained herein and any amendments thereto.
c) This agreement or the responsibilities or benefits arising therefrom cannot be assigned by User save and except with the prior written consent of Soul Machine .
a) All other provisions of the Soul Machine Terms of Service shall be read into this policy and shall form part hereof, including Governing Laws and Jurisdiction, notices, severability, assignment and such or other provisions.
Welcome to India’s first secure Ethereum Token Wallet.
ethx.in is where we bring buyers and sellers together online. We host an exchange and a wallet for ETH/INR, ensuring that everything is recorded correctly and that all transactions happen quickly and smoothly.
We're based out of Delhi, India and we are passionate about the potential of Ethereum .
We operate at the highest levels of security and follow KYC and AML policies in line with those used by leading financial institutions.
Here are all of the features and benefits you can expect to enjoy as a customer of Ethx.in:
REAL TIME TRADING
- Buy and sell Ether for INR with the tightest spreads in India.
- Daily volume growth, making it ever easier to enter and exit trades.
- Just 0.01 Ether and 1 Rupee ticket size, allow you to trade with total flexibility.
YOUR OWN INR ETHER WALLET
- Hold your Ether securely in our online Ether wallet. Your ETH can be traded at will and is stored securely.
Financial Institution grade login and security keeps your account secure, providing total peace of mind.
1. The Information We Gather
- We may collect details from our customers such as name, date of birth, address, phone number and other identity information issued by Government of India for identification purposes. These(this?) information is required to provide hassle free and accurate services to our customers. The information collected is used to provide specific product offerings, maintain and administer crypto currency trading services and provide information about our future offerings to our customers.
- Pertaining Ethx.in, we may collect specific information such as e-mail addresses, page request information and transaction activity on the website. The information such as the IP addresses, browser information, operating system and other MIME information will also be collected. This information may be used to identify the ISPs and geographical information which in turn are used to better serve our customers.
2. How we use your information
Your personal information may be used to for the following:
1. To verify the identity and the authenticity of the customer information (KYC compliance)
2. To facilitate transactions
3. To provide customized services
4. To authenticate and provide customer support
5. To develop new products and refine existing services
6. To contact you whenever needed
7. To perform quick checks while transactions are being performed
8. To verify citizenship
9. To comply with the regulatory bodies and the government organizations for verification and investigation
10. To comply with fraud detection
11. To prevent phishing and other social engineering activities
12. To train our staff to provide better service
13. To inform you with special offers and other promotional activities
- Ethx.in exercises care while sending mails to you. In case of any mail other than business mails referring to Ethx.in or Ethx.in seems to be suspicious the you should immediately contact Ethx.in Support and verify the credibility of the mail.
4. Links to Other Websites:
5. Opting out of marketing, promotions or related activities
- Ethx.in may contact you regarding promotions, service/product launches, feedback and surveys. If the you wish to opt out of the above said activities, you may write to firstname.lastname@example.org or call Customer Support using your registered phone number.
ethx.in gives high priority to customer information and all measures are taken care to safeguard the information by taking appropriate measures to avoid unauthorized access, tampering or destruction. The measures may include encryption of highest standard, physical access restriction among others. In spite of taking stringent measures, transactions over internet are vulnerable for attacks. This may be noted and you are urged to take necessary precautions at your end while performing transactions.
9. DATA RETENTION
a) Ethx.in shall retain the User’s information for as long as the account is active or as needed to provide services in accordance with applicable laws.
b) The retention period may be extended to comply with legal obligations, resolve disputes, and enforce agreements for a period of ten years after termination of the account or such extended period, under applicable laws. Ethx.in may retain data for such or further periods but is not obligated to do so in all instances. Ethx.in shall not be liable or responsible for non – availability or non – retention of data or information beyond the termination of the User account.
c) The retention period may extend beyond the end of User account, but it will be only as long as it is necessary for Ethx.in to have sufficient information to respond to any issues that may arise later, including but not limited to retention for the purpose of investigations or ongoing prosecutions or in case of Suspicious transactions or if Ethx.in requires the information for its records or to support legal proceedings, or if Ethx.in believes in good faith that a law, regulation, rule or guideline requires it.
10 UPDATION OF USER DATA AND WITHDRAWAL OF USER CONSENT
a) The User shall ensure that all data and information shared with Ethx.in is accurate, correct and complete. User shall ensure that change of the User’s address or any change in circumstances impacting use of the Ethx.in Services, is promptly communicated to Ethx.in through the email given.
b) Ethx.in will not be held liable or responsible for any incorrect information provided by the User to Ethx.in.
c) User may, upon termination of the use of the Ethx.in Services, as provided in the Terms of Service, withdraw consent granted herein to Ethx.in. The same shall however not affect actions undertaken or data and information collated or technological processes initiated prior to such withdrawal of consent. Such withdrawal of consent shall also not affect retention of data and information collected prior to such withdrawal.
11 SHARING OF INFORMATION WITH THIRD-PARTIES
The User agrees and consents to Ethx.in sharing the following anonymized data or to otherwise gives Ethx.in permission to share with third-parties the following:
a) For advertising, referral, operations, financial services and technology services (such as hosting providers, identity verification, support, payment, and email service providers);
b) If required by applicable law or legal process, or if Ethx.in believes that it is in accordance with applicable law or legal process;
c) To protect the rights, property and safety of Ethx.in, its users and the public, including, including but not limited to usage in court proceedings, or to detect or prevent criminal activity, fraud, material misrepresentation, or to establish its rights or defend against legal claims; or
d) In connection with selling, merging, transferring, or reorganizing all or parts of Ethx.in’s business.
12 REASONABLE SECURITY PRACTICES
a) Protection of the User’s personal information is of utmost importance to Ethx.in and it takes all reasonable steps to secure data and information pertaining to its Users, including those prescribed under applicable laws and Rules framed thereunder Including but not limited to the applicable provisions of the Information Technology Act, 2000 (as amended) and the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011.
b) Ethx.in takes appropriate legal, administrative, physical, and electronic measures designed to protect the information that Users share with Ethx.in from accidental or unlawful destruction, accidental loss or unauthorized access, use, modification, interference, or disclosure.
c) Ethx.in however does not extend any warranties with respect to the security or safety of data and information transmitted through digital platforms or online, both of which are susceptible to malicious attacks.
a) These terms may be periodically reviewed and revised. User will be notified through an update of the App. The revised draft will be uploaded on the Ethx.in Website and will reflect the modified date of the terms. User is required to periodically visit the website and review terms and any changes thereto. Continued use of the Ethx.in Services constitutes agreement of User to the terms contained herein and any amendments thereto.
a) All other provisions of the Ethx.in Terms of Service shall be read into this policy and shall form part hereof, including Governing Laws and jurisdiction, notices, severability, assignment and such or other provisions.
- Offline Ether deposit storage. In the very unlikely event of our systems becoming compromised your deposits will be unreachable by any unwanted parties.
- Front and back-end separation. Our trading platform and systems are disconnected which means that any disruptions to the front-end will have a negligible impact on our trading operations.
- We stay at the forefront of Ether discussions and developments within India. We have built relationships with the Indian government, banks, and other regulatory organisations. This keeps us aware of any developments that may affect Ether and ensures our customers are always protected.
- We follow Banking-Grade procedures for customer validation and Anti-Money-Laundering (AML). This ensures that we are compliant with governmental outlines and provides reassurance that all users on our trading platform are legitimate and identity verified.
EXPRESS INR WITHDRAWALS AND DEPOSITS
- Express transfer your Rupees through NEFT,IMPS (designated hours) and RTGS .
- Ethx.in is promoted by Soul Machine , incorporated on 25/09/17 under The Companies Act,1956.