Risk Notice

Before using the Tolvechs Site, you should ensure that you understand the risks involved in buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets This market volatility and other risks involved in buying, selling or trading cryptocurrencies are explained on the Risk Warning page of the Tolvechs website..

There may be additional risks not identified in these Terms or in the Risk Warning

Service availability

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

Account inactivity

Local Currency deposited into your Tolvechs Wallet may only be used for the purchase of Supported Cryptocurrencies and/or Withdrawal to an approved bank account (see The Tolvechs Wallet). You must not use your Tolvechs Wallet for the purpose of storing Local Currency. Where any Local Currency in your Tolvechs Wallet is not used for a period exceeding three months, Tolvechs may charge and obtain from you an Inactivity Fee of USD2.00 per month (or the equivalent in your Local Currency), which shall be collected from the Local Currency held in your Tolvechs Wallet.

Indemnity

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

Network protocols and operating rules.

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

Tolvechs is not responsible for the operation of any cryptocurrency network’s underlying software protocols and makes no guarantee as to their availability, security, or functionality;

Transactions on cryptocurrency networks

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

Once submitted to a cryptocurrency network, a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your Tolvechs Wallet balance or be available to you to conduct transactions;

Security

Tolvechs takes security very seriously and the measures we have in place to protect your Tolvechs Account are explained on the Security page of the Tolvechs website. However, you are solely responsible for:

maintaining adequate security and control over your Tolvechs Account sign-in details, including but not limited to any passwords, personal identification numbers (PINs), API keys, or any other codes associated with your Tolvechs Account