As used herein, “Unocoin or Company” refers to the holding company of Unocoin being Unocoin Technologies Private Limited (‘Company’), a private limited company incorporated under the laws of India and having its registered office at 2nd floor, Gurudas Building, S.S. Puram Main Road, Tumkur, India- 572102 its owners, directors, investors, employees or other related parties. Where the context so permits, Depending upon context, “Unocoin” may also refer to the services, products, website, content or other materials (collectively, “Materials”) provided by the Company.
The Service operated by Company in the name of Unocoin allows buyers (“Buyers”) and sellers (“Sellers”), to buy and sell Bitcoins (for more information on Bitcoins, please refer to http://www.bitcoin.org).
The Service provided Unocoin also allows all registered users of the Service (“Members”) to:
1. transfer Bitcoins to other Members or other users of Bitcoin outside the Website,
2. send and receive Bitcoins,
3. purchase and sell Bitcoins, and
4. use Bitcoins for purchasing goods.
It is your responsibility to determine, collect, report, and submit any taxes applicable to the payments you make or receive in connection with the use of the Website and the Service to the appropriate tax authority. Unocoin is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
To comply with AML/KYC recommendations, we require our clients to verify their identity by providing scanned copies* of the following**:
1. PAN card (mandatory),
2. Photo identity (which could be avalid passport, Aadhaar card, driving license, Voter id),
3. Passport sized photo (not older than 6 months) (mandatory), and
*Copies should be in color and a good resolution.
** The above documents provided by the clients shall be kept on the server safely and the Company shall not disclose the same to any third party unless we are mandated to do so under the provisions of any applicable laws.
Unocoin may use your personal information:
1. To identify you
2. To process transactions,
3. To send periodic emails with updates, promotions, company news, and notices regarding changes to policies,
4. Customize, measure, and improve Unocoin Service and the content and layout of our Website and applications,
5. To analyze use of the Website,
6. Prevent potentially prohibited or illegal activities, and
7. To undertake a verification of your identity with third party electronic identification providers.
By opening an account to use the Service (“Account”), you expressly represent and warrant that:
2. You do have read and understood the information provided by the Website through its How-it-works and Resources section; and
The use of the Website and the Service may entail the following risks:
1. Bitcoin transactions are technically irreversible once it hits the network. The Bitcoins you buy will be sent to your Unocoin wallet or to your own Bitcoin address provided. If you lose or delete your own bitcoin wallet, you will lose your Bitcoins in it and the same cannot be restored. The Bitcoin wallet address provided to you by Unocoin is only a way for you to deposit or accept bitcoin into your Unocoin wallet. The owner of these Bitcoin wallet addresses will be Unocoin and the out going transactions from these Bitcoin wallet addresses will not be related to you or to your Unocoin account. When you send out Bitcoin from Unocoin wallet to other Bitcoin address, the “From” address for such Bitcoin transaction will be a temporary address and it wont be same as the Bitcoin wallet address provided to you. If there are any chances of reversals or pay-back for a Bitcoin transaction you initiated from Unocoin, it will be your responsibility to explicitly provide your Bitcoin address provided by Unocoin to receive such Bitcoin payment. Any Bitcoin that is not send to your Unocoin provided Bitcoin wallet address cannot be claimed to be from you. You also can neither request any reversals of such transaction nor request for the credit of those Bitcoin into Bitcoin balance in your account at Unocoin.
2. Bitcoin value tends to fluctuate on a minute to minute basis, due to which there may be increase or decrease in the value of the Bitcoins. Bitcoins are subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading in Bitcoins.
3. Bitcoin is an as-yet autonomous and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or commodities and hence may be susceptible to risks not generally associated with government or central bank backed currencies.
4. There is also the risk of loss of confidence in Bitcoin trading, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also collapse because of technical problems, for instance, if the anonymity of the system is compromised, or if any entity is able to prevent any transactions from settling.
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.
We use our banking service providers only for the receipt of client moneys and making payments. Our banking service providers do not transfer Bitcoins, exchange Bitcoins, or provide any services in connection with Bitcoins.
Limited Right of Use
Unless otherwise specified, all Materials on this Website are the property of the Company and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.
The trademarks, service marks, and logos of Unocoin and others used in this Website (“Trademarks”) are the property of the Company and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to Company. The Trademarks and Materials 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. The use of any such Materials on any other website or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties.
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 Unocoin, 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 Bitcoin, 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 Unocoin, at its sole discretion, may choose to terminate your Account. You are required to notify Unocoin immediately of any unauthorized use of your Account or password, or any other breach of security by an email addressed to [email protected] 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 Bitcoins into your Unocoin 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 Bitcoins paid to your Unocoin wallet is not known to Unocoin and you hereby agree to ensure that it always comes from legitimate sources. Unocoin only acts as information intermediary as far as your Unocoin wallet is concerned. In case of any technical or manual error that happens from Unocoin, 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.
Merchant Gateway Usage
These terms apply to you when you sign up for the merchant gateway provided by the Company for you to start accepting bitcoin as a mode of payment for your products and services. These apply for both PoS app usage and the online merchant gateway integration through API or through 3rd part support provider using our APIs.
As a Business User, you shall not offer any Products, which are illegal or offensive or banned as per the list provided below and/or are not in compliance with applicable laws, rules and regulations whether central, state, local or international of all jurisdiction from where the Customers avail the Products. In addition, you shall comply with and shall ensure compliance by the Customers with all applicable guidelines, rules, regulations issued by RBI if any and guidelines set by Unocoin, Acquiring Banks and/or Card Associations. You agree and understand that Unocoin reserves the right to suspend Unocoin Services to you until such time that you do not discontinue selling such banned/illegal Products or does not conform to all applicable laws and regulations in force from time to time. In addition, Unocoin reserves the right to terminate the Agreement signed with you without further notice in the case of breach of this Clause.
Banned list of Products referred to in this Agreement is as mentioned herein below. Please read the below list carefully and place your signature at the end confirming your adherence for the same:-
- Securities including shares, bonds, debentures, share tips etc. and/or any other financial instruments/assets of any description.
- Living, dead creatures and/or the whole or any part of any animal which has been kept or preserved by any means Endangered species, which includes plants, animals or other organisms (including product derivatives) in danger of extinction. E.g Elephant Tusks, Rhino Horns, etc
- Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments.
- Tobacco and cigarettes which include cigarettes, cigars, chewing tobacco, and related products.
- Alcohol which includes alcohol or alcoholic beverages such as beer, liquor, wine, or champagne.
- Drugs and drug paraphernalia which include illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms. Psychotropic (mood altering) substances, narcotics, intoxicants of any description, medicines, palliative/curative substances. Prescription drugs or herbal drugs or any kind of online pharmacies which includes drugs or other products requiring a prescription by a licensed medical Practitioner. Herbal and Ayurvedic products.
- Religious items, including books, artefacts, etc. of any description or any other such item which is likely to affect the religious sentiments of any person.
- “Antiquities” and “Art Treasures”.
- Adult goods and services and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services; Website access and/or Website memberships of pornography or illegal sites.
- Body parts which include organs or other body parts.
- Child pornography which includes pornographic materials involving minors.
- Copyrighted media which includes unauthorised copies of books, music, movies, and other licensed or protected materials. Digital download/PDF (eBook, software) e.g.: Music/Movies: content downloaded from the internet and burned on CDs and sold as genuine.
- Copyrighted software which includes unauthorised copies of software, video games and other licensed or protected materials, including OEM or bundled Software. E.g.: Downloaded software copied/ burned on a marketable CD and sold as authentic/ trial versions of software downloaded and sold as genuine. Bundled software is software distributed with another product such as a piece of computer hardware or other electronic devices or a group of software packages which are sold together and are released/ authorised by Manufacturers Only.
- Counterfeit and unauthorised goods which include replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorised goods.
- Endangered species which includes plants, animals or other organisms (including derivatives) in danger of extinction.
- Gaming/gambling which includes lottery tickets, contests, sports bets, memberships/ enrollment in online gambling sites, and related content.
- Hacking and cracking materials which include manuals, how-to-do guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property.
- Illegal goods which include materials, products, or information promoting illegal goods or enabling illegal acts.
- Offensive goods which include literature, products or other materials that:
- Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors.
- Encourage or incite violent acts.
- Promote intolerance or hatred.
- Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals.
- Pyrotechnic devices, combustibles, corrosives and hazardous materials which include explosives, fireworks and related goods; toxic, flammable, and radioactive materials and substances.
- Regulated goods which includes airbags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications.
- Wholesale currency which includes discounted currencies or currency exchanges.
- Any product or service which is not in compliance with all applicable laws and regulations of India or international, whether federal, state, local.
- Businesses or websites that operate within the scope of laws which are not absolutely clear or are ambiguous in nature (e.g. Web-based telephony, Websites supplying medicines or controlled substances, websites that promise online match-making).
- Businesses banned/kept strict vigil on, by law (e.g. Betting & Gambling/lotteries/sweepstakes & games of chance).
- SIM cards.
- Selling of medical packages.
- Unauthorized Wallet services.
- Sites booking online appointments, websites selling VIA Call Centers.
- Technical Support Eg: Web Hosting, SEO, Web designing, and allied services.
- Pyramid/Referral Schemes Eg: A pyramid scheme/ referral scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public.
- Marketing – Bulk Emails, Bulk SMS’s. Eg: mails/messages sent via mail servers and/or Bulk SMS service providers.
- Spy Camera’s and Likewise.
- Protein Supplements, Height increaser, Weight Loss/Gain, Impotency, Hair Loss/Hair Fall , Memory Enhancement, etc.
- Counseling and consulting services/market research – Online Consulting – Of any Kind.
- Recruitment classifieds/job portals. work-at-home jobs/information.
- Rental services for goods.
- Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles.
- Drop-shipped merchandise. Eg: Drop shipping is a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer.
- Portfolio design. Eg: Financial services like Mutual Funds, Stocks, IPOs, etc.
You need to understand that you agree for the above and authorise Company to suspend your Account if you are found to be in violation of the above terms.
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 Unocoin 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 Unocoin.
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.
The Website may provide links or other forms of reference to other websites (“External Websites”) or resources over which we may not have control. You acknowledge that Unocoin is providing any such links or references of External Websites or resources to you only as a convenience and that Unocoin makes no representations whatsoever about any External Websites which you may access through this Website, including such External Websites being free of such items as viruses, worms, Trojan horses, and other items of a destructive nature. Unocoin is not responsible for the availability of, and content provided on any External Websites. You are requested to review the policies posted by such External Websites regarding privacy and other topics before use. Unocoin is not responsible for third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.
Our business model, and our Service, consists of facilitating the buying, selling, sending and receiving of Bitcoins, 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 Unocoin 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. Unocoin 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 Unocoin 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 Unocoin can use these information to facilitate deposits and withdrawals.
Modification of Terms