BitWell Disclaimer

Preamble:

BitWell Contract Operator means each entity that operates BitWell Contracts, including, but not limited to, legal entities, unincorporated organizations, teams, etc. that provide BitWell Contracts services and are responsible for such services. BitWell Contract Operator provides digital asset derivatives trading services to its users through the operation of an independent Contracts trading service function web page (https://www.bitwellex.com/) ( The “Web Page” or “We”) provides digital asset derivatives trading services to users.

For convenience, unless otherwise noted, references to “BitWell” and “we” in these Terms of Use refer to the BitWell Contracts Operator. The BitWell Contract Operator may change under these Terms of Use in accordance with the restructuring of the BitWell Contracts business, and the changed BitWell Contract Operator will be jointly responsible for the performance of these Terms of Use and the provision of services to you, and any change in the BitWell Contract Operator will not affect your rights under these Terms of Use. If you continue to use the BitWell Contract Services, you agree that the new BitWell Contract Operator will jointly perform these Terms of Use with you. In the event of a dispute, you shall determine the subject of your performance and the parties to the dispute based on the specific services you use and the specific parties whose actions affect your rights and interests.

The user (“you”) must comply with the provisions of this Terms and Conditions page (“Terms”) when using the Web site and the services provided on the Web site (“Services”). This Agreement as a whole constitutes the entire agreement between the Site and the User (hereinafter referred to as the “Parties”). Unless otherwise agreed, all other information provided or oral/written representations made on the Website are not binding on the Website and the User; documents such as the Trading Policy and Operating Instructions are intended only as guidelines for use and do not constitute a legally binding agreement between the Parties.

By accessing, browsing or downloading information from the Site and using the services provided by BitWell, you acknowledge that you have read and understood these Terms and Conditions and unconditionally agree to be bound by these Terms, which may be modified by BitWell at any time without notice. You agree that the Website reserves the right to modify, change or delete the Terms without notice to you, and agree that any modified Terms shall be binding on you. You acknowledge that it is your responsibility to periodically review this Agreement for changes and that your continued use of the Site and the services provided by BitWell following the posting of any changes to these Terms will constitute your acceptance of any such changes.

The Site and all text, graphics, images, software and any other materials on the Site are copyrighted by BitWell, including all trademarks and other intellectual property rights related to the Site materials and Services. The materials on this Web site may be used for personal, non-commercial purposes only.

You may display or print excerpts from the Web pages on your computer screen for such purposes, provided that any copyright and other proprietary notices or any BitWell trademarks or logos on the original print or download are retained and not altered, added to, or removed in any way. Except as expressly provided herein, you may not alter, modify, reproduce, distribute or use in any other commercial setting any material on the Web pages without first obtaining BitWell’s written permission.

In no event will you acquire any rights (other than the right to use the Web Site under these Terms and any other terms and conditions applicable to specific services or portions of the Web Site) or claim any such rights with respect to the Web Site or the Web Site.

Definitions

In this Agreement, the following words or expressions shall have the meanings set forth below unless otherwise agreed to in the terms hereunder:

“Agreement”: means the terms and conditions of use set forth herein.

“BitWell”: means the operator of BitWell.

“Data”: means any data entered into the Web Pages by you or authorized by you to be entered into the Web Pages.

“Intellectual Property Rights”: means design rights, patents, copyrights, database rights, data protection rights, trademarks, service marks, moral rights, know-how and any other intellectual or industrial property rights, registered or unregistered, anywhere in the world.

“Member”: means any currently registered user of BitWell.

“Services”: means all services available through the Web Site (as may be changed or updated by BitWell from time to time).

1. Access conditions

1.1: You must ensure that all user names and passwords required to access the Site are secure and confidential.

If there is any unauthorized use of your password or any other breach of security, you should notify BitWell immediately and BitWell will reset your password for you.

1.2: Accessing and using the Services.

  • Do not attempt to compromise the security or integrity of a web computing system or network or, in the case of a service hosted by a third party, the security or integrity of that third party’s computing system and network.
  • Do not use the service in a manner that diminishes the functionality of the service or system, or other system used to transmit the service, or diminishes the ability of any other user to use the service or web page, nor abuse the service in the manner described above.
  • Do not attempt to gain unauthorized access to the computer system that hosts the Web pages, or to any other material other than that to which you have express permission to access
  • Do not transmit or input to the Web pages any files that could damage the computing equipment or software of any other person; offensive content; or material or data that violates any law (including data or other material protected by copyright or trade secrets to which you are not entitled)
  • Do not attempt to modify, copy, adapt, reproduce, disassemble, decompile or reverse engineer any computer program used to provide the Services or operate the Web pages, except where such use is necessary for proper functioning.
  • Ensure that all user names and passwords required to access the Web pages are secure and confidential. Notify BitWell immediately of any unauthorized use of your password or any other breach of security, and BitWell will reset your password for you.

1.3: Use of the Services may be subject to limitations, including, but not limited to, the number of transactions permitted and the number of calls to the Web Application Interface. We will inform you of any such restrictions.

1.4: By registering as a Member, you represent and warrant that

  • You accept these Terms.
  • You are at least 18 years of age and have the capacity to accept these Terms.
  • You legally own the funds transferred to your Web Account and that such funds are from a lawful source.
  • Your use of the Web Services does not violate the laws of the jurisdiction in which you are located
  • You are aware of the risks associated with the use of the services offered on the Website. That these risks include the risk of high volatility of digital assets themselves and the risk that you may lose all funds in your trading account if market trends move against you.
  • You will not engage in or initiate any form of market manipulation, including deceptive orders or other conduct.
  • The information or documents you provide in any identity verification process are accurate, truthful and up-to-date.
  • The address you provide for the withdrawal of any digital assets is your own address and that you have full control over that address.
  • You also warrant that you are not on any trade or economic sanctions list, such as the United Nations Security Council Sanctions List, and are not restricted or prohibited from applying any trading platform by administrative enforcement agencies in Hong Kong, such as the European Union, the Hong Kong Monetary Authority, the Hong Kong Customs and Excise Department, etc.
  • You are not a member of Hong Kong, Cuba, Iran, North Korea, Crimea, Sudan, Syria, the United States [including all U.S. territories such as Puerto Rico, American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, the U.S. Virgin Islands (St. Croix, St. John and St. Thomas)], Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, Sevastopol, The United Kingdom (retail users) or any other jurisdiction where the services offered on the pages are restricted. If you do not pass the identity verification process, you will not be allowed to receive any of the services offered on the Site; if it is determined that you have provided a false residential address statement, BitWell may immediately close your account, withdraw your orders, settle any open trades at prevailing market prices; and if BitWell may incur losses, BitWell will make direct deductions or recourse.

1.5: BitWell reserves the right to verify your identity at any time in order to comply with relevant legal requirements.

1.6: We may impose certain transaction restrictions before you are required to perform Customer Due Diligence (CDD). You agree to cooperate with us in this process and to provide all documents/information we request to verify your identity and for the purposes of the business relationship.

1.7: We may freeze any account if we suspect or have reason to believe that you are engaged in suspicious transactions or other activities or are in breach of any of the above warranties. This may reverse the cancellation of any transactions you have entered into. We expressly disclaim any liability for any loss or gain resulting from our early withdrawal or closing of an order or your inability to trade on the pages, and you agree to indemnify us in full in the event of any third party action arising from your actions or our early withdrawal or closing of an order. While your account is frozen, we will conduct an investigation and may require you to cooperate with our investigation. During the investigation, you will not be able to make deposits to or withdrawals from your account or to trade. At the end of the investigation, we may, in our sole discretion, close your account without informing you of the reasons for this.

1.8: We reserve the right, at our sole discretion, to close your account upon 7 business days’ notice. Accordingly, you have 7 business days to withdraw your order and close your position. If you have not withdrawn and closed your order by the end of this period, we will force the withdrawal and closure of your order and return any remaining digital assets in your account to you.

1.9: It is your responsibility to provide us with correct details, including your withdrawal address. We are not responsible if you do not receive your withdrawn digital assets because the information you have provided is inaccurate or out of date. You are also responsible for ensuring that transactions sent to BitWell are properly formatted and denominated in the correct currency. BitWell is not responsible for any inaccurate transactions, including but not limited to Litecoin sent to Bitcoin addresses.

1.10: We are responsible for maintaining a good orderly marketplace and therefore may, at our sole discretion, suspend transactions on the Site in the event of a market disruption or other relevant external event. We are not responsible for any alleged loss or loss of revenue as a result of our suspension of trading.

1.11: In order to protect the rights and interests of investors, the platform has the right to settle contracts for early delivery under special circumstances (e.g. system failure, network failure, extreme quotes, etc.). The contract types, contract periods and settlement delivery prices for early delivery and settlement shall be subject to the platform announcement.

2. Intellectual Property Rights

2.1: All intellectual property rights relating to all materials used on the Web Site, including but not limited to the design, structure, layout, graphic images and underlying source code, are owned by BitWell and all rights are reserved.

2.2: You acknowledge that the Web Site and all intellectual property rights in the Web Site shall remain the property of BitWell at all times, except as otherwise agreed in writing by the parties.

2.3: By submitting Content to any public area of the Web Site, including blogs, message boards and forums, you grant BitWell the right to use, reproduce, modify, adapt, publish, translate, distribute, transmit to the public, perform, display or create derivative works from such Content (in whole or in part) and to use such Content in any form, media or technology now known or later developed for the full term of any rights contained in such Content. royalty-free, perpetual, irrevocable, non-exclusive right and license to incorporate the Content into other works in any form, media or technology now known or later developed. You also grant permission to any subscriber to access, display, view, store and reproduce such content for personal purposes.

2.4: By submitting any Content to the Web Site, you warrant that you have the right to own the Content and that you own all necessary intellectual property rights in the Content.

3.Privacy Policy

3.1: BitWell respects the privacy of its users. The Web Privacy Policy, available separately, describes how BitWell collects, stores, discloses and uses information related to your privacy. You consent to BitWell’s use of your information in accordance with the terms of the Web Privacy Policy.

3.2: Information about users of the Site as defined in this Agreement means information that complies with laws, regulations, and relevant provisions and is subject to the following scope

a) Personal information that you provide to BitWell when you register for the Site.

b) Data automatically received and recorded by BitWell on the user’s browser side or cell phone client when the user uses the web service, participates in web activities or visits the web, including but not limited to IP addresses, information in web cookies and web records requested by the user to access the web.

c) Personal information of users legally obtained by web pages from business partners.

d) Personal information of users obtained by other web pages through legitimate means.

3.3: BitWell promises:

a) BitWell will not disclose the user’s password, name, phone number or other non-public information to any third party except for legal reasons or with the user’s prior permission;

b) BitWell will disclose the user’s personal information in part or in whole under the following legal circumstances.

i. disclosed to the user or other third parties with the user’s consent.

ii. to administrative or judicial bodies or other legally required third parties in accordance with laws, regulations and other relevant provisions, or as required by administrative bodies.

iii. other disclosures made by BitWell in accordance with laws, regulations, and other relevant provisions.

4. Data Protection

4.1: BitWell may store information about you in a database for internal use only, and BitWell will not disclose your information to any third party except as required by law and where you specifically instruct us to the contrary.

5. Third Party Web Sites

5.1: BitWell provides links to third party web pages that are not affiliated or associated with this web page (although BitWell brands, advertisements or links may appear on these pages), and BitWell may send you email messages containing advertisements or promotions (including links to third parties). BitWell makes no representations or warranties as to the quality, suitability, functionality or legality of the materials on the linked third party web pages, or as to any goods and services offered on such web pages. BitWell does not monitor or investigate third party web pages and assumes no responsibility or liability for any damages resulting from the accuracy of the content or materials, and the views expressed in the materials shall not be deemed to be an endorsement, recommendation or opinion of BitWell.

5.2: Under no circumstances may you create a hyperlink to any page of the Web Site without BitWell’s prior consent. If you have created a link to any page of the Web Site, you acknowledge that you are responsible for all direct or indirect consequences of such link and indemnify BitWell against all losses, liabilities, costs or expenses incurred by BitWell arising out of or in connection with such link.

6. Warranties and Representations

6.1: You hereby confirm and warrant that

a) you are authorized to access and use the Web Site; in particular, that the jurisdiction in which you reside, hold citizenship or conduct business allows you to use the Web Site Services.

b) If you are using the web pages on behalf of or for the benefit of any organization, it is assumed that you are authorized to use the web pages. That organization will be responsible for your actions, including violations of these Terms.

c) Your use of the Site and Services is at your own risk, and you agree that BitWell shall not be liable for any damage or injury caused by your use of the Site and Services;

d) The information provided on the Web Site is for general information purposes only and is provided in good faith; however, the information is selected and BitWell does not verify all information and may be incomplete or inaccurate as far as you are concerned; please do not rely on such information without further inquiry. Such information should not be construed as advice to trade or advice to use the Services provided by BitWell in a particular manner; and

e) BitWell does not warrant that use of the Web Pages will be uninterrupted or error-free. In addition, the operation and availability of the systems used to access the Site, including public telephone services, computer networks and the Internet, are unpredictable and may interfere with or impede access to the Site. BitWell is not responsible for any such interruptions that prevent you from accessing or using the Site and Services.

6.2: BitWell makes no warranty whatsoever with respect to the Web Site. without limiting the foregoing, Bitwell makes no warranty that the web site will meet your requirements or be suitable for your purposes. for the avoidance of doubt, to the extent permitted by law, BitWell makes no implied conditions or warranties, including, but not limited to, warranties of merchantability, fitness for a particular purpose, title and non-infringement.

6.3: you represent and warrant that you are obtaining access to and using the web pages for commercial purposes and agree to these terms; to the maximum extent permitted by law, statutory consumer warranties or laws designed to protect non-commercial consumers in any jurisdiction do not apply to the content provided on the web pages or to these terms.

7. Service Performance

7.1: In the event that you or a third party provides computer equipment and the product relies on any of its features, BitWell assumes no responsibility for the timely operation of the Web pages in the Internet environment.

7.2: By using the Service, you acknowledge that you understand that the timely operation of the Internet and the World Wide Web is beyond BitWell’s control. You acknowledge that BitWell is not responsible for any perceived slow performance of the Web pages.

7.3: By using the Service, you accept that all transaction execution operations are final and irreversible.

7.4: By using the Service, you accept that BitWell reserves the right to liquidate any trade at any time, regardless of profitable or losing positions.

7.5: BitWell does not guarantee that

a) The service will meet your requirements.

b) That the Services will be uninterrupted, timely, secure or error-free.

c) The information provided through the Services is accurate, relied upon, or correct.

d) Any errors or defects will be corrected or the Service will be available at any specific time or location.

7.6: You assume full responsibility and risk of loss arising from your use of the Services.

8. Indemnification

8.1: You agree to indemnify and hold BitWell, its contractors, licensors, and their respective directors, officers, employees and agents harmless from and against any and all claims and expenses, including attorneys’ fees, arising out of your use of the Web Site, including but not limited to your violation of this Agreement.

9. Denial of Warranty and Disclaimer of Liability

9.1: BitWell operates the Site as a third party platform for “Internet Service Providers” and does not warrant that the information and services available on the Site will adequately meet the needs of users. BitWell shall not be liable for any errors, insults, defamation, omissions, obscenity, pornography or profanity that users may encounter in the course of receiving BitWell’s services and using the website.

9.2: Due to the unique nature of the Internet, BitWell does not guarantee that the service will be uninterrupted, that the service will be timely and secure, or that BitWell will not be liable for any damages not caused by BitWell. BitWell does not represent or warrant that the Site or its servers are free of viruses or other potentially harmful components; therefore, users should use industry-recognized software to screen for viruses in any files downloaded from BitWell.

9.3: BitWell assumes no responsibility for failure to save, modify, delete or store User information, and BitWell is not responsible for typographical errors or mistakes on the Site that are not intentionally caused by BitWell. BitWell has the right, but not the obligation, to improve or correct omissions and errors in any part of the Site.

9.4: Except as expressly agreed in writing, BitWell does not guarantee the accuracy, completeness, or reliability of any content information obtained by the User from this Web Site by any means, including, but not limited to, inclusion, transmission, linking or downloading, including, but not limited to, advertising, etc.; and BitWell is not responsible for any products, services, information or materials purchased or obtained by the User as a result of the content information on this Web Site. BitWell is not responsible for any products, services, information or materials purchased or obtained by users as a result of the information on this website. The use of the information on this website is at the user’s own risk.

9.5: All user comments posted on this website represent the user’s personal views and do not imply that BitWell agrees with them or confirms their descriptions, and BitWell does not assume any legal liability arising from user comments.

9.6: BitWell reserves the right to remove any information on the Site that does not comply with the law or the Agreement, without notice to the User.

9.7: All notices sent to users will be delivered by BitWell through official page announcements, internal letters, emails, customer service calls, cell phone messages or regular mail. BitWell shall not be liable for any winnings, offers, or other activities or information not obtained through the formal channels of the web site.

9.8: BitWell adjusts the fee rates for deposits, withdrawal and tradings according to market conditions and has the right to decide the termination of the free promotion period.

10. Calculations

10.1: All calculations performed by the Web Page engine and verified by the Web Page are final. As stated in Section 6.1, BitWell does not guarantee that use of the Web Site will be uninterrupted or error-free.

11. Compliance with Your Local Laws

11.1: You are personally responsible for determining whether, and to what extent, you will pay to the relevant taxing authorities the taxes corresponding to any income derived from transactions conducted through the Services, net of the correct amount. In addition, you agree to comply with all relevant local laws. With respect to the prevention of terrorist financing and anti-money laundering activities, BitWell voluntarily conducts due diligence, as appropriate, to prevent money laundering and terrorist financing risks and will cooperate with local authorities. By using our services, you confirm that you are acting in a lawful and proper manner and that your digital assets and legal tender are not derived from illegal activities. BitWell may, at its discretion or in coordination with local law enforcement authorities, control, limit or liquidate your accounts and digital assets.

12. General Terms

12.1: BitWell’s failure to exercise or delay in exercising any provision or failure or delay in exercising any right under this section shall not be construed as a waiver of any of our rights.

12.2: Neither party shall be liable for any failure to perform for reasons beyond its reasonable control, including natural disaster, riot, war, acts of vandalism, fire, power failure, or governmental authority.

12.3: If any provision of these Terms is found by a court to be invalid, void, unenforceable or illegal, the validity and enforceability of the other provisions will not be affected. If any provision is found to be unenforceable, you agree that BitWell may modify such provision to the extent permitted by applicable law to ensure that the intent of such provision is met.

12.4: This Agreement is entered into in its entirety under the laws of the British Virgin Islands, and the relevant provisions of the laws of the British Virgin Islands shall govern its formation, interpretation, content and enforcement; and any claim or action arising out of or relating to the services agreed to herein shall be governed by and construed and enforced in accordance with the laws of the British Virgin Islands. For the avoidance of doubt, this provision expressly applies to any claim of infringement against BitWell. Any claim or action against or relating to BitWell shall be brought in a court of competent jurisdiction or venue in the British Virgin Islands. You unconditionally acquire exclusive jurisdiction to litigate and appeal in the courts of the British Virgin Islands. You also unconditionally agree that the venue or forum for any claims and actions arising out of or in connection with this Agreement shall be exclusively in the British Virgin Islands, and if there is a specific agreement on jurisdiction in other businesses on the Site, the agreement shall apply. The doctrine of forum non conveniens shall not apply to courts selected under these Terms of Service.

12.5: If any provision of this Agreement is held to be unlawful, void or for any reason unenforceable, such provision shall be deemed severable and shall not affect the legal effect of any other provision.

12.6: The terms of this Agreement set forth the complete understanding of the parties with respect to the subject matter of the Services and supersede all prior understandings and communications with respect thereto. Any other documents that are inconsistent with what is set forth herein will not be binding on BitWell. You represent and warrant that all information disclosed to BitWell in connection with these Terms of Service is true, accurate and complete.