Terms and conditions (revised 08 March 2024)
Important Notice & Introduction
It is very important that you read and understand all the terms and conditions of trading with Leonie Hill Digital Pty Ltd Trading as BetterX (ACN 625 613 041 (“BetterX”, “we”, “us”, “our”), the provider of the Digital Asset Exchange Platform and its related entity, Leonie Hill Custody Pty Ltd Trading as BetterX Custody (ACN 650 197 630) (“BetterX Custody”).
Terms and conditions
1. By using this service, or any Services that we offer, you (“you”, “user”, “client”, “customer”, and “Representative” if appointed), are deemed to have read, understand, warrant, agree to and accept these terms and conditions in full. You acknowledge that these terms and conditions, and our disclaimer and other documents made available, constitute the entire agreement between you, the user, your Representative and us (herein referred to as "Agreement").
2. You acknowledge that this Agreement supersedes all other agreements and understandings, and no representations by us (express or implied), terms, conditions or warranties not expressly stated in this Agreement are binding on the parties. We may amend these Terms and Conditions from time to time and you should periodically review these to ensure you have understood the most up-to-date Terms and Conditions each time you use the Services.
3. For the sake of clarity, these terms and conditions govern your use of our Services; and by using our Services, you accept these terms and conditions in their entirety. If you disagree with these terms and conditions or any part of them, you or your Representative must not use our Services.
4. You must be at least eighteen (18) years of age to access or use any of our Services. By using our website and/or our Services, you warrant and represent that you are at least eighteen (18) years of age.
Opening a new account and our right to suspend or close your account
5. All Services provided to you are subject to these Terms and Conditions. For the avoidance of doubt, we reserve the right to:
a) Refuse to accept your application to open an account;
b) Suspend or close your account should we suspect any fraudulent or other illegal behaviour, or a breach of these terms and conditions;
c) Suspend or close your account should you change your country/place of residency.
d) Close your account at any time, for any reason [other than in circumstances addressed by clause 5(b)] and without prior notice, subject to all outstanding obligations between us being fully discharged; and
e) Take any steps we believe necessary or prudent to comply with our AML/CTF program, or other laws relevant to the operation of the Services, which may also include suspending or closing your account.
Acceptable use
6. You must not use our Services in any way that causes or may cause, damage to our Services or our business, including undertaking any act or omission that causes, or may cause, disruption or impairment to the availability or accessibility of our Services; any act or omission that is unlawful, illegal, fraudulent or harmful, whether intentionally or recklessly, including but not limited to any act of money laundering, corruption, unlawful collusion or terrorism or any other type of illegal activity of any sort.
7. Clients and their Representatives agree to provide us with accurate, current and complete information about themselves as prompted by our registration or service process, and keep such information updated. We reserve the right, at any time and in our sole discretion, to refuse to process an application or transaction if we believe that information provided by you or your Representative is not accurate, current and complete. You understand that we will rely on the information unless and until we receive notice of any change and you understand that you are liable for any loss arising due to your failure to advise us of any change.
8. We reserve the right to request identification information (such as driver’s license, identity card, invoices, Government issued photographic identification, utility bills, residential certificate, signed certification of cohabitation, or similar, banking information) depending on the amounts requested through our service or any apparent suspicious activity which may indicate money-laundering or other illegal activity. Identification of the bank account or other digital wallet addresses to or from which funds or property are transferred may also be requested. In certain cases certification of certain documents may be requested. We also reserve the right in our sole discretion to suspend or cancel any quote or order where the information provided is incomplete or unsatisfactory and to hold your funds or property in suspense pending resolution of any such enquiries. We may request additional identification information at any time at the request of any competent authority or by application of any applicable law or regulation.
9. Any bank account linked to your Account with us (or our agent), or by which you direct us to make payment of fiat currency must be in your name (we are unable to direct funds to a bank account in the name of a third party).
10. Any external wallet address, used for the storage of Digital Assets, that transacts with us, or by which you direct us to transfer your Digital Assets to, must also be in your name (we are unable to direct or transfer Digital Assets to a wallet held in the name of a third party including omnibus exchange accounts).
Digital Assets Services
11. Under this Agreement, you are agreeing to buy/sell or trade Digital Assets, encrypted digital, and/or Baskets of Digital Assets from us in accordance with your instructions. You acknowledge that the assets and Services provided or made accessible by us do not fall under the definition of ‘financial product’ or ‘financial service’ under the Corporations Act 2001 and therefore associated licensing, disclosure, conduct, dispute and compensation regimes do not apply.
11.1 You agree that you (or your Representative where applicable) will use our Services to:
a) Generate quotes and place orders to buy and sell Digital Assets and digital or virtual currencies, Baskets, or products, including those described in this Agreement;
b) The Order types that BETTERX Trading may offer from time to time in its sole discretion include but are not limited to “RFQ”, “market”, ”limit”, "stop-loss limit", "stop-loss market", "trailing stop" and "take profit limit" orders. BETTERX may issue trading rules from time to time that apply to Orders placed on the platform, in addition to these Terms and Conditions.
11.1 (B) (i) The buy/sell function on the Platform also allows you or your Representative to submit instructions ("Order") to exchange (buy/sell) one spot Digital Asset for another. Each buy/sell transaction is subject to the applicable Exchange Rate quoted for the given transaction and the applicable time limits for such quote. The "Exchange Rate" means the price of a given Digital Asset as quoted on your dashboard page on the BetterX platform. The Exchange Rate is stated either as a "Buy Price" or as a "Sell Price", which is the price at which you or your Representative may buy or sell the Digital Asset, respectively.
11.1 (B) (ii) The Exchange Rate quoted will depend on market conditions, and you or your Representative are under no obligation to execute an Order at any Exchange Rate quoted to you or your Representative. You or your Representative acknowledge that the Buy Price Exchange Rate may not be the same as the Sell Price Exchange Rate at any given time, and that there may be a ‘spread’ to the quoted Exchange Rate. You or your Representative agree to accept the Exchange Rate when you or your Representative authorise an Order transaction. If an Exchange Rate suddenly gaps below (or above) a stop price, the order would trigger. The Digital Asset would be sold (or bought) at the next available price even if the Exchange Rate is trading sharply away from your stop loss level.
We do not guarantee the availability of any Exchange Rate and we do not guarantee that you or your Representative will be able to buy and/or sell your Digital Assets by placing an Order at any particular price or time.
11.1 (B) (iii) You or your Representative are solely responsible for accurately entering any Order Instruction, including but not limited to all the necessary information in order to enable us to carry out any Order Instruction. BETTERX is not obliged to verify the accuracy or completeness of any such information, Order Instruction.
11.1 (B) (iv) You or your Representative agree that any Order Instruction received or undertaken through your Account shall be deemed to be final and conclusive, and that BETTERX may act upon such Order Instruction. We shall not be under any obligation to verify the identity or authority of any person giving any Order Instruction or the authenticity of such Order Instruction.
11.1 (B) (v) Your Order Instructions shall be irrevocable and unconditional and shall be binding on you, and such Orders Instructions may be acted or relied upon by us irrespective of any other circumstances. As such, once you give any Order Instruction, you have no right to rescind or withdraw such Order Instruction without our written consent.
11.1 (B) (vi) Each of your Order Instructions shall not be considered to be received by BETTERX unless and until it has been received by BETTERX server. BETTERX records of all Order Instructions shall be conclusive and binding on you for all purposes.
11.1 (B) (vii) Under no circumstances shall any of the Indemnified Parties be responsible or liable to you for any Losses suffered or incurred by you or any other person arising from any of the Indemnified Parties relying or acting upon any Order Instruction which is given or purported to be given by you, regardless of the circumstances prevailing at the time of such Order Instruction.
11.1 (B) (viii)You hereby authorise BETTERX to credit or debit (or provide settlement information to third parties for the purposes of the third party crediting or debiting) your Digital Assets or Funds from your Account in accordance with your Orders Instructions. We reserve the right not to effect any transaction if you have insufficient Digital Assets or Funds in your Account.; and
c) Arrange for the withdrawal of fiat currency, Digital Assets and digital or virtual currencies, Baskets, or products, including those described in this Agreement.
11.2 You agree that your Representative has been duly authorised by you to provide instructions to us on your behalf and that we will continue to act on instructions provided through your Representative until you advise us in writing that the previously nominated Representative is no longer authorised to act on your behalf. You will keep us indemnified against any and all losses suffered as a direct result of us acting upon the instructions of your nominated Representative.
11.3 You consent to be bound by the instructions given by your Representatives to us.
11.4 You agree to settle and complete all transactions executed or arranged by us as a consequence of your, or your Representative’s instructions.
11.5 You agree that you are liable to us for any transactions effected on your behalf by your Representative prior to our receipt of written notice of revocation of your appointed Representative.
11.6 You agree that the mailing address/e-mail address which you state on the Application Form is administered or controlled by you and is to be used for receipt of Confirmations and any other documents we are required by law, regulation or rule to provide to you. Where an email address is supplied by you, you further indemnify us and hold us harmless against any loss or damage you suffer as a result of us relying on instructions we receive from that email address purportedly sent to us by you.
11.7 You consent to:
a) Us, or our related parties, dealing directly with you as the counterparty or one of the counterparties to any of your transactions; and
b) Another client(s) of ours being the counterparty to any of your transactions.
Where such transactions ‘net off’ we retain the right to any brokerage, commissions, spreads and other transaction fees from all parties.
11.8 In the case of a joint account, you agree that we and your Representative are entitled to rely on the directions (including those provided to us or your Representative where applicable) of any or all of the joint parties unless expressly instructed otherwise in writing.
11.9 In the case of an account in the name of a trustee or corporation, you agree that we and your Representative are entitled to rely on the instructions (provided to us or your Representative where applicable) or directions of any authorised officer, who may not be a director unless you expressly instruct otherwise in writing.
11.10 You agree to ensure that all trades on your behalf through us are Long Sales (i.e. before it is sold you must own the holding other than as a consequence of borrowing the holding from a lender)
11.11 You acknowledge that transacting in Digital Assets may have tax consequences and we do not account for, withhold or remit any tax on your behalf.
11.12 You acknowledge that:
a) In utilising the Services and trading in Digital Assets, or similar digital goods, or Baskets is inherently risky, is not recognised legal tender in Australia and other parts of the world, is unregulated by any central or government authority and may be subject to extreme price volatility;
b) By using our Website and Services, you and your Representative represent and warrant that you understand the risks associated with the Services, Digital Assets and digital or virtual currencies, commodities, goods, Baskets, or products, including those described in this Agreement;
c) Digital Assets and Currency are held by BetterX Custody (or a related entity) on behalf of BetterX in order to segregate client assets from our assets. BetterX will maintain adequate records of all relevant transactions and holdings for each beneficial owner. BetterX will maintain strict procedures to ensure that the correct number of Digital Assets are recorded as the property of the relevant client, as well as adopting reasonable security measures to reduce the risk of Digital Assets being misused, misplaced, misappropriated or stolen. BetterX Custody will maintain strict security measures to protect client assets, including the use of cold storage and institutional-grade custody of Digital Assets with third-party providers. Any fiat currency belonging to clients will be deposited with a banking institution.
d) You may transfer Digital Assets that you beneficially own to a digital wallet elected by you (provided there is no change in beneficial ownership) and will be responsible for maintaining the security and integrity of your own Digital Assets in your digital wallet. Fees will apply for all Digital Asset withdrawals as specified in www.betterx.io/fees-and-limits.
e) The networks by which Digital Asset transfers occur are operated by third parties and are outside of the Services. We provide no guarantee of and take no liability for the security of the Digital Asset transfer networks. Losses of Digital Assets may occur due to the use of a Digital Asset transfer network which are outside our control and we limit our liability for any such losses;
f) The speeds of the Digital Asset transfer networks are outside our control. It may take some days for a transfer of Digital Assets to an external wallet, or for a transfer of Digital Assets (withdrawal) to be effected. We are not liable for any consequences of failures of Digital Asset withdrawals to be effected in a timely manner;
g) We accept no responsibility for any loss or damage suffered by you, or any of your authorised Representatives, in connection with your use of the Services, including if you (or your Representative) provide us with any inadequate, incorrect or false personal information, including but not limited to, incorrect wallet ID’s, digital accounts and information, bank account details, and personal information;
h) All concluded transactions are irreversible.
i) We are not responsible for payments made to any incorrect Wallet ID or incorrect bank account details provided by you or your Representative. You and your Representative agree to release and indemnify us for all loss or damage suffered in connection with such incorrect payments; and
j) Before using our Services, you have obtained independent legal and financial advice, including but not limited to, the risks associated with purchasing, selling and trading of Digital Assets or any other digital currency, commodities, products or goods, under the applicable local laws in your jurisdiction.
Fees
12.1 In consideration for the provision of our Services, you agree to pay us the fees disclosed to you for our Services specified in www.betterx.io/fees-and-limits. We may, at our discretion, update the fees at any time. Any updated fees will apply to any sales or other Transactions that occur following the effective date of the updated fees. You authorise us to deduct from your Account any applicable fees that you owe under these Terms. Your confirmation of the transaction constitutes an agreement to pay all such applicable fees.
12.2 For the avoidance of doubt, you agree to our fee schedule specified in www. betterx.io/fees-and-limits, including;
- fees and minimum deposits related to the opening of a new account, including KYC fees where applicable as specified in www. betterx.io/fees-and-limits; and
- fees charged by your Representative on any Transaction.
12.3 You agree to allow us to deduct such fees from any Account you have opened with us in which we may manage, or from any balance transferred to our account when they are payable and due at the point of commencing a trade.
12.4 You agree and acknowledge, that should your Account have insufficient funds to pay your fees, we may at our absolute discretion, liquidate necessary holdings of Digital Assets in your Account to cover any outstanding fees (including any additional fees involved in liquidating your holdings).
12.5 We (and our related entities) may obtain benefits, financial or otherwise, from transactions entered into on your behalf, including but not limited to, commissions, brokerage or margins/spread, which may be paid directly or indirectly.
Procedures for purchasing Digital Assets
13. Account Funds
13.1 Funding your Account - In order to complete a Transaction via the Services, you (or your Representative where applicable) must first transfer Funds to your Account using the approved method of bank transfer through an Australian bank account in the same name as the Account holder. You may be required to verify that you (or your Representative where applicable) control the External Account that you use to transfer Funds to your Account and submit to any external wallet address being screened for known sanctions, illegal or illicit behaviour. You acknowledge that you may be charged fees by the External Account you use to fund your Account, and that we are not responsible for any External Account fees or for the management and security of any External Account, or for any loss of Funds in transit. You are solely responsible for your use of any External Account, and you agree to comply with all terms and conditions applicable to any External Account. The timing associated with a load transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account, and we make no guarantee regarding the amount of time it may take to load Funds into your Account.
13.2 About Funds Held In Your Account - You agree that fiat funds held in your Account are exclusively for the purchase of Digital Assets and other virtual currencies, payment of fees, or for withdrawal to your approved External Account. Proceeds from the sale of Digital Assets or other virtual currencies will be recorded as credited to your Account less any transactional or other fees. We may, at any time, restrict your ability to store fiat currency in your Account other than for pending transactions, such funds may be returned to your nominated bank account. Furthermore, be advised that we, or BetterX Custody do not pay interest on fiat balances held in your Account.
13.3 Digital Assets Only Accounts - If you (or your Representative where applicable) have opened an Account designated as Digital Assets Only, you may only fund your Account with digital assets. We will not accept fiat to fund a Digital Assets only Account. If fiat is transmitted to fund such an Account, it will be returned to the sender, less applicable transfer fees.
13.4 Transferring Funds to an External Account - Provided that the balance of Funds in your Account is greater than any minimum balance requirements needed to satisfy any of your open positions, you may transfer any amount of Funds, up to the total amount of Funds in your Account in excess of such minimum balance requirements, from your Account to an External Account, less any fees charged for such transactions (as described in the fee schedule specified in www.betterx.io/fees-and-limits at the time of your request to transfer Funds to an External Account).
13.5 Load/Transfer Authorisation - When you (including your Representative where applicable) request that we load Funds into your Account from your External Account or request that we transfer Funds to your External Account from your Account, you authorise us to execute such transaction via the Services.
13.6 Rejected Transactions - In some cases, the External Account may reject your Funds or may otherwise be unavailable to receive your Funds. You agree that you will not hold us liable for any damages resulting from such rejected transactions.
13.7 For the sake of clarity, any loading, transfers, payments to be made by you to us for the purposes of trading, buy/sell Digital Assets and other virtual currencies through our Service must be done using one of the approved methods. We do not accept cash payments.
13.8 You acknowledge that:
a) In accordance with its terms and conditions, we reserve the right to refuse any transaction for any reason, at our absolute discretion;
b) Digital Asset prices may change significantly if delays are experienced in completing External Account transfers from your Financial Account to your Account, however, there is no obligation to complete any trade prior to Funds clearing into your Account with us;
c) If Funds referred to in clause 13 are not received by us as cleared funds into the Account, we reserve the right to refuse to execute any transaction;
d) In the event of an Order, we reserve the right, to change quoted pricing to reflect any changes in market pricing between your (or your Representative’s) request and execution of the trade.
Procedures for our Services
14.1 Any payments we make to you from Services provided will be made by electronic transfer. We do not process cash in any circumstances.
14.2 You acknowledge that:
(a) We reserve the right to refuse our Services to you or your Representative for any reason, which is at our absolute discretion;
(b) When you place an Order to use our Services, you (or your Representative where applicable) are required to ensure that your Account contains sufficient cleared funds prior to execution by us. In the event that an Order is placed and executed without sufficient funds available in your Account, you will be liable to transfer funds to your account within 24 hours as necessary ;
(c) Where we accept your Order, you (or your Representative where applicable) will receive a confirmation on our platform confirming your Order and a confirmation once your Order has been completed;
(d) Where we reject your Order, we will notify you (or your Representative where applicable) of such rejection. We bear no liability for rejecting an Order. You agree that you will not hold liable for any damages resulting from such rejected Order.
(e) While we employ measures to ensure that Orders and Services are accessible 24 hours a day and 7 days a week, we cannot guarantee uninterrupted or error-free operation of our Services or that we will correct all defects or prevent third-party disruptions or unauthorized third-party access. We may at our sole discretion reject any pending transaction, whether confirmed by the user or not, in the event of such disruptions. We bear no liability for rejecting any trade, buy/sell Orders and use of Services. It will be your responsibility (or your Representative where applicable) to monitor your Account for filled or rejected Orders at all times;
(f) You acknowledge that there are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that we shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services, however caused;
(e) You warrant to us that you or your Representative are lawfully entitled to engage in placing Orders for Digital Assets and/or virtual currency in return for the purchase price identified or determined by us in accordance with your instructions;
(g) All fiat Funds transfers from a withdrawal are usually received into your External Account or Digital Assets wallet within 3 business days of your receipt of the Order confirmation. We do not take responsibility for, or guarantee these time- frames, particularly with respect to External Accounts or transfers delayed through the blockchain or Digital Asset transactional process. We take no responsibility for any interruption to the transfer or withdrawal of Funds caused by banking delays or administration errors, including but not limited to delays or errors that arise from incorrect, inaccurate, incomplete or fraudulent personal or banking or digital wallet information, identification and related security information. We will use reasonable endeavours to co-operate with your nominated banking institution to minimise any delays to fund transfers, however we do not guarantee time-frames for your receipt of cleared funds into your nominated account. You hereby agree, without limitation, to release us from all claims, actions, loss or damage directly or indirectly suffered by you, your employees, agents, assigns and representatives whosoever arising from, or in connection with, any such delay to the transfer of funds or Digital Assets;
(h) If the trade, buy/sell of your Digital Assets and/or virtual currencies to us is a taxable transaction for GST purposes, then you must provide us with a valid Tax invoice with respect to that supply if relevant. We will supply you with a taxable invoice on the sale of any Digital Asset if relevant. To assist in this process, we will include a pro-forma tax invoice if required. Once you notify us of your acceptance of the form and contents of the pro-forma tax invoice, such document will be deemed to be the Tax Invoice that you issued to us for your supply of Digital Assets . The tax invoice from you must be provided to us at the same time that you place an Order to sell Digital Assets through our Service.
Account Security
15.1 We are committed to maintaining the security of client-entrusted funds and Digital Assets and we have implemented protection for our Services. However, the actions of individual Users or Representatives may pose risks. You and your Representative shall agree to treat your access credentials (such as username and password) as confidential information, and not to disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Account and personal information.
15.2 You are solely responsible for keeping safe your Account credentials and are responsible for all the transactions under your Account. We assume no liability for any loss or consequences caused by authorized or unauthorized use of your Account.
Indemnity
16. You, your employees, agents, assigns or Representatives hereby agree to fully indemnify us (and our related entities) (whether under the law of contract, the law of torts or otherwise) for all liability, loss and damage (including all legal costs and disbursements on an indemnity basis) arising from or in connection with the use of the Services, our published content, including but not limited to any advice or representations (express or implied) made by us in connection with the Services, and you agree that this indemnity extends to all liability, loss or damage arising from any breach of Website security, digital fraud or embezzlement, or internet hacking of the Website and related software, personal and banking information, digital identification and passwords and wallets ID’s, whether or not such liability, loss or damage was due to any act or omission of you, your employees, agents, assigns or Representatives. Your liability pursuant to this clause shall be reduced to the extent that such liability, loss or damage arises due to our negligence or default, including an act of fraud or fraudulent misrepresentation or any other unlawful conduct that directly caused or contributed to such liability, loss or damage, or wherever it would otherwise be unlawful to seek indemnity from you.
a) In addition to the above you agree to indemnify us (and our related entities) and undertake to keep us (and our related entities) indemnified against any losses, damages, costs, liabilities and expenses (including legal expenses and any amounts paid by us to a third party in settlement of a claim or dispute on the advice of our legal advisers) incurred or suffered by us (or our related entities) arising out of any negligence or breach by you of any provision of this Agreement, or arising out of any claim raised by us or a third party against you for negligence or breach of any provision of these terms and conditions.
b) The indemnities provided by you above are unlimited, and are separate liabilities from that which may arise under law or statute, and each indemnity extends to liability for any indirect, special or consequential loss suffered by us not contemplated at the time of entry into this Agreement, and includes without limitation, our business losses, loss of revenue, income, profits or anticipated savings, loss of contracts or business relationships, loss of reputation or goodwill, or loss or corruption of information or data.
c) Any liability, cost or expense for which you indemnify us is immediately payable by you on receiving written demand from us, and whether or not we have already incurred such liability cost or expense.
d) We have ensured that the related entities and third parties appointed by us to provide the Services have arrangements, controls and processes in place to provide a level of protection and insurance (where applicable) over transactions completed by us on behalf of our clients. Such applicable insurance cover is held by our agents and not by us or BetterX Custody. Due to the evolving regulation of Digital Assets, the ability for us or BetterX Custody to obtain insurance to cover the Services it provides is prohibitive. By using our Services, you acknowledge that we and BetterX Custody, do not hold professional indemnity or other related insurance policies,
No Financial Advice
17. We are not your broker, intermediary, agent, or advisor and have no fiduciary relationship or obligation to you in connection with any Orders, transactions or other decisions or activities effected by you or your Representative using our Services. No communication or information provided to you or your Representative by us is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, tax advice or any other sort of advice. Unless otherwise specified in these terms and conditions, all trades are executed based on the parameters of your Order instructions, and you or your Representative are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. We will not be held responsible for the decisions you or your Representative make to trade, buy/sell, or hold Digital Assets based on the information provided by us.
Reasonableness
18. By using our Website, Services, Account, vault service, or other Services, you agree that the indemnities above are fair and reasonable. If you do not think that the indemnities above are fair and reasonable, you must not use our Services.
Other parties
19. You accept that we have an interest in limiting the personal liability of our officers and employees. You agree that you will not bring any claim personally against our officers or employees in respect of any losses you suffer in connection with our Services. Without limiting the foregoing, you agree that the indemnity above will protect us, our officers, employees, agents, subsidiaries, successors, assigns and sub-contractors.
Unenforceable provisions
20. If any provision of this Agreement is, or is found to be, unenforceable under applicable law, that will not affect the enforceability of the other provisions of this Agreement.
Breaches of these terms and conditions
21. Without prejudice to our other rights under these terms and conditions, if you breach these terms and conditions in any way, we may take such action as we deem appropriate or may be required to deal with the breach, including suspending your access to the Website, your Account and Services, prohibiting you from accessing the Website, your Account, blocking computers using your IP address from accessing the Website, contacting your internet service provider to request that they block your access to the Website and/or bringing court proceedings against you and recovering the costs from you under the indemnity set out in this Agreement.
Variation
22. We may revise these terms and conditions from time-to-time. Revised terms and conditions will apply to the use of our Services and Website from the date of the publication of the revised terms and conditions on this Website. Please check this page regularly to ensure you are familiar with the current version. You agree and are taken to accept any revised terms whether or not you have taken the time to read the revised terms.
Assignment
23. We may transfer, sub-contract or otherwise deal with our rights and/or obligations under these terms and conditions without notifying you or obtaining your consent.
24. You may not transfer, sub-contract or otherwise deal with your rights and/or obligations under these terms and conditions, without express written consent.
Severability
25. If a provision of these terms and conditions is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect. If any unlawful and/or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect.
Entire Agreement
26. This Agreement constitutes the entire agreement between you and us in relation to your use of our Website, Services, your Account and supersedes all previous agreements in respect of your use of this Website, your Account, and Services.
Law and jurisdiction
27.1 These terms and conditions will be governed by and construed in accordance with the law of New South Wales, Australia, and any disputes relating to this Agreement will be subject to the exclusive jurisdiction of the courts of NSW.
27.2 Laws in the country where the user resides may not allow the usage of an online tool/s with the characteristics of the Service or any of its features. We do not encourage and cannot be held liable for the violation of any such laws. It is up to you to ensure that you are not breaking any laws in which country or jurisdiction you reside.
Personal Identification
28.1 We value your personal information and are required by law to verify your personal identity. As a condition of use of our Services, and our Website, we require all Representatives, customers and ultimate beneficial owners of Digital Asset property to complete the personal identification verification process (KYC).
28.2 Your personal information will be properly protected and kept confidential, but hawse have the right to collect, process, use or disclose your personal information in accordance with the Terms (including the Privacy Policy) or applicable laws.
Definitions
Wherever the following words are referred to in this Agreement they are given the meanings outlined below:
Account - means an approved user account accessible via the Services where Funds and Digital Assets may be recorded on behalf of a user.
Agreement - means these terms and conditions, our Website disclaimer and any other policies which are accessible on this Website.
Ancillary Services - means any digital product, foreign exchange service, or other processes required to be used in connection with this Website or the Services.
Application Form – means any paper, or online, form or request that is completed by you, or your Representative, requesting the set up of an Account.
Digital Asset - means such digital or virtual encrypted currency, approved by us, which is the subject of the Services.
Concluded Transactions - means when the transfer of Digital Asset/s to your wallet ID is recorded with 3 confirmations in the blockchain history transaction record on the global register.
Counterparty - means the entity chosen by us to complete your requested transaction.
External Account - means any verified Financial Account (i) from which you may load Funds into your Account, and (ii) to which you may transfer Funds from your Account.
Fee - means the fees charged or paid to us in relation to the Services provided to you, including those outlined www.betterx.io/fees-and-limits.
Financial Account - means any financial account of which you are the beneficial owner that is maintained by a third party outside of the Services, including, but not limited to third-party payment service accounts or accounts maintained by third party financial institutions
Funds - means Digital Asset and/or legal tender in the form of the Australian dollar.
Order - Means the use of our Service to initiate a trade of either buy or sell of a Digital Asset, which may be requested at market price or such order has been accepted by us.
Parties - means the persons described in this Agreement.
Basket - means a Basket of multiple Digital Assets, which we may market as a bundle
Representative - means your Authorised Representative (including, but not limited to your Financial Planner, Financial Adviser, Wealth Manager, Asset Manager, Stock broker) who has been nominated by you to transact and submit Orders on your behalf.
Services - means the Website and related digital services provided by us to you to facilitate the execution of Orders for Digital Assets, and any ancillary services.
Taxable Supply - has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 (Cth), as amended from time to time.
Tax Invoice - has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 (Cth), as amended from time to time.
Transaction - means an instance of engaging with our Services
Vault - refers to our Vault arrangement to store Digital Assets, which may be held by our agent.
Wallet - means your personal digital identification (ID) for taking receipt of and storing Digital Assets and other virtual currencies.
Website - means www.betterx.io