Terms of Use
These Terms of Use constitute an agreement between this website (also referred to as the "Platform", including but not limited to Web, mobile applications, H5 pages and other Vebit service environments) and the user ("you") regarding your use of the services provided by this website. By accessing, downloading, using or clicking "I agree" to any services provided by Vebit, you confirm that you have read, understood and accepted all terms and conditions set forth in these Terms of Use (hereinafter "Terms of Use"), as well as the Privacy Notice published by us. If you do not agree to be bound by these Terms of Use, please do not access Vebit or use Vebit services. In addition, when using certain functions of Vebit services, you may also be subject to specific additional terms and rules applicable to those functions.
These Terms of Use contain important provisions. Please read carefully these terms governing the use of the services. Like any asset, the value of digital currencies may fluctuate significantly and there is a significant risk that you may incur economic losses when purchasing, selling, holding or investing in digital currencies and their derivatives. By using Vebit services, you acknowledge and agree that: 1) You understand the risks associated with digital currency and derivatives trading; 2) You assume all risks associated with using Vebit services and engaging in digital currency and derivatives trading; 3) Vebit shall not be liable for any such risks or adverse outcomes.
1. Scope of Application
1.1 Scope of Persons These services are only available to users aged 18 or above. By accessing or using our services, you represent and warrant that you are at least 18 years old and have not been deprived of the right to use these services. You also warrant that you are not on any trade or economic sanctions list, such as the United Nations Security Council sanctions list, nor are you restricted or prohibited by the EU, the Hong Kong Monetary Authority, the Hong Kong Customs and Excise Department, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) or other administrative enforcement agencies from participating in any related type of transaction.
1.2 Territorial Scope We do not provide these services in all countries or regions, and we provide partial or no services to users in certain restricted regions. Restricted regions currently include the United States, Canada, Hong Kong SAR (specifically with respect to derivative-related services provided by us to retail users), Cuba, Iran, North Korea, Syria, Crimea, Bangladesh, Bolivia, the United Kingdom (retail users), Malaysia, Singapore, the Bahamas, the Netherlands, Donetsk, Luhansk and Malta. The content of these terms shall not be rejected by the laws of the user's country or region. Therefore, if you do not meet these requirements, please do not use our services.
2. Account Registration and Registration Requirements
2.1 Registration All users must apply to register an account at (https://vebit.io) before using Vebit services. Each user may open only one account at a time. Vebit may in its sole discretion refuse to open an account for you. When registering a Vebit account, you must provide a valid email address. Registration will be deemed successful only after verification by the platform system. You may log in to this website using the email address you provided or other methods permitted by this website. If the email address is lost, Vebit shall not be liable for your losses.
2.2 User Identity Verification
2.2.1 By registering an account with Vebit, you agree to provide personal information for identity verification. The identity verification information we require may include but is not limited to: your name, email address, contact information, phone number, username, government-issued identification document, date of birth, and other information collected during account registration. By providing this required information, you confirm that such information is true and accurate.
2.2.2 After registration, you must ensure that the information is true and complete, and update it promptly if any changes occur. If there is any reason to suspect that any information you provided is incorrect, untrue, outdated or incomplete, Vebit has the right to send you a notice requesting correction, directly delete the relevant information, and (as the case may be) terminate all or part of the Vebit services provided to you. If we are unable to contact you through the contact information provided, you shall bear full responsibility for any losses or expenses incurred by Vebit during your use of Vebit services. You hereby confirm and agree that you are obligated to update all information from time to time if any changes occur.
2.2.3 The personal identification information you provide will be used to detect clues of money laundering, terrorist financing, fraud and other financial crimes committed through Vebit, or for other legitimate purposes as stated by Vebit. We will collect, use and share this information in accordance with our published Privacy Notice. In addition to providing this information, in order to comply with industry standards for global data storage, you agree to allow us to retain records of this information for the duration of your Vebit account and for 5 years after the account is closed. You also authorize us, directly or through third parties, to conduct investigations necessary to verify your identity or protect you and/or us from financial crimes (such as fraud), and to take actions Vebit deems necessary based on the results of such investigations. You also confirm and agree that your personal information may be disclosed to credit reference agencies and fraud prevention or financial crime prevention authorities, which may respond fully to our investigations.
2.3 Account Use Requirements A Vebit account may only be used by the account registrant. Vebit reserves the right to suspend, freeze or cancel the use of a Vebit account by anyone other than the account registrant. If you suspect or discover unauthorized use of your username and password, you should immediately notify Vebit. If you decide to no longer use the account, please contact Vebit official personnel to delete or cancel the account. Vebit shall not be liable for any loss or damage caused to you or any third party by the use of your Vebit account (whether authorized by you or not).
2.4 Account Security
2.4.1 Vebit has always been committed to safeguarding the security of user entrusted funds and has implemented industry-standard protections for Vebit services. However, individual user actions create risks. You 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 that you are solely responsible for taking necessary security measures to protect the security of your own Vebit account and personal information. 2.4.2 You shall be solely responsible for safeguarding your Vebit account and password, and for all actions conducted under your Vebit account. Vebit shall not be liable for any loss or consequence arising from authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information publication, consent to or submission of various rules and agreements by clicking on the website, etc. By creating a Vebit account, you hereby agree that: 1) If you become aware of any unauthorized use of your Vebit account and password by any person or any other breach of security rules, you will immediately notify Vebit; 2) You will strictly comply with all security, authentication, trading, fee, withdrawal mechanisms or procedures of Vebit; and upon each visit, you will take appropriate steps to log out from Vebit.
2.5 You agree to receive emails or text messages sent by this website relating to the administration and operation of this website.
3. Vebit Services
Vebit is a globally leading new first-tier digital asset derivatives trading "tool" platform, providing users with various digital asset-related trading platform services, technical services and other services. Generally, as a platform provider, we are neither the buyer nor the seller in these services. After completing Vebit account registration, you may use various Vebit services in accordance with these Terms of Use (including Vebit platform rules and other individual agreements). Vebit has the right: to decide, based on its own development plan, in its sole discretion to carry out, modify or terminate the provision of any Vebit service; and to allow or prohibit certain users from using any Vebit service in accordance with the relevant Vebit platform rules.
Vebit has the sole power to determine which digital assets are listed on the platform and may, in its sole discretion, add or remove digital assets from the platform from time to time. Vebit may also change the order size for each digital asset. Vebit may (but is not obligated to) notify users in advance of such additions, removals or modifications, and Vebit shall not be liable to users in connection with such additions, removals or modifications.
3.1 Service Content
3.1.1 You have the right to browse real-time market prices and transaction information of various digital asset products on this website, to submit digital asset transaction instructions through this website, and to complete digital asset transactions. 3.1.2 You have the right to view information under your account on this website and to operate using the functions provided by this website. 3.1.3 You have the right to participate in website activities organized by this website in accordance with the activity rules published on this website. 3.1.4 Other services that this website promises to provide to you.
3.2 Service Rules
3.2.1 You shall comply with laws, regulations, rules and policy requirements, ensure the legality of the sources of all digital assets in your account, and shall not use this website or the services of this website to engage in illegal or other activities that harm this website or the rights and interests of third parties, including but not limited to sending or receiving any information that is illegal, violates regulations, or infringes upon the rights of others, sending or receiving pyramid scheme materials or other harmful information or statements, using or forging this website's email header information without authorization from this website, etc. 3.2.2 You agree to be responsible for all activities that occur under your account and password on this website (including but not limited to information disclosure, publishing information, online clicking to agree or submit various rules and agreements, online renewal of agreements or purchase of services, etc.). 3.2.3 When conducting digital asset transactions on this website, you shall not maliciously interfere with the normal conduct of digital asset transactions or disrupt transaction order; shall not interfere with the normal operation of this website or interfere with other users' use of this website's services by any technical means or otherwise; shall not maliciously disparage the goodwill of this website by means of fabricating facts, etc. 3.2.4 You shall comply with this agreement and other service terms and operating rules as published and updated from time to time by this website, and have the right to terminate the use of services provided by this website at any time. 3.2.5 The services provided by Vebit are provided on an "as is" basis according to the current state achievable with existing technology and conditions. Although we have made every effort to ensure the continuity and security of the services, we cannot fully foresee or prevent risks arising from legal, technical or other factors, including but not limited to service interruption, data loss and other losses and risks that may result from force majeure, viruses, trojans, hacking attacks, system instability, third-party service defects, government actions, etc. 3.2.6 When the system platform is unable to operate normally due to the following circumstances, rendering users unable to use various services or unable to place or cancel orders normally, we shall not be liable for damages. Such circumstances include but are not limited to: 1) Periods of scheduled system maintenance announced by the Vebit platform; 2) Issues with telecommunications or network equipment; 3) Force majeure events such as typhoons, earthquakes, tsunamis, floods, power outages, wars, terrorist attacks; 4) Any other problems, including hacking attacks, computer virus intrusion or outbreak, technical adjustments or failures by telecommunications authorities, website upgrades, bank issues, government regulations or orders, or any other problems caused by third parties; 5) Losses caused by third parties to users or other third parties; 6) Abnormal trading, market interruptions, and other possible abnormal situations that may result from unexpected factors such as system failures, network failures, distributed denial of service (DDoS) attacks and other hacking attacks; or in response to subpoenas, court orders or other government orders; or if we suspect that a transaction may involve money laundering, terrorist financing, fraud or any other type of financial crime; is erroneous; or relates to uses prohibited by these terms, we have the right to cancel abnormal transaction results based on the actual circumstances. With respect to users' contract trading, leveraged lending and other trading activities, we have the right to roll back all transactions for a certain period of time as described in the respective user agreements. 3.2.7 Service Fees Some services provided by Vebit to users may incur fees. By using Vebit services, you agree to the incurrence of such fees. Vebit has the right to set user service fees in accordance with appropriate rules. We also have the right to set and adjust service fees and to establish specific service fees for users using our services. If you do not agree to any fee change, you should immediately stop using these services. You are still responsible for fees incurred prior to such change. Unless otherwise stated, users agree that we have the right to directly deduct the above service fees from the assets in the user's account automatically without prior notice. If you fail to pay fees in full or on time, we reserve the right to interrupt, suspend or terminate your account.
3.3 Product Rules
Vebit provides various product services, including but not limited to conducting spot trading, grid strategy trading, leveraged trading, contract trading on Vebit, obtaining market data and news information published by Vebit, and participating in user activities organized by Vebit. When you engage in trading activities, you agree to and acknowledge the following platform service details: 1) When browsing transaction information on this website, you shall carefully read all content contained in the transaction information, including but not limited to price, order quantity, fees, buy or sell direction. You may click the button to trade only after fully accepting all content contained in the transaction information; 2) After browsing the transaction information and confirming it is correct, you may submit a trading order; after you submit a trading order, you authorize this website to match the corresponding transaction on your behalf and to pay transaction fees to Vebit in accordance with Vebit's fee collection rules. This website will automatically complete matching transactions when there is a transaction that meets your order price without prior notice to you; before an order is matched, you have the right to cancel or modify the order at any time; 3) You may view the corresponding transaction records through your account.
4. Liability
4.1 Disclaimer of Damages and Limitation of Liability
4.1.1 To the maximum extent permitted by applicable law, Vebit and its affiliates and their respective shareholders, members, directors, officers, employees, lawyers, agents, representatives, suppliers or contractors shall in no event be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities (including but not limited to loss of data, information, revenue, profit or other business or financial interests) arising out of the Vebit services, any performance or non-performance of the Vebit services, or other products, services or other items provided by or on behalf of Vebit and its affiliates, whether under contract, statute, strict liability or other theory, even if Vebit has been advised of the possibility of such damages, unless such damages are finally adjudicated to have resulted from Vebit's gross negligence, fraud, wilful misconduct or wilful violation of law. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation may not apply to you. 4.1.2 Notwithstanding the foregoing, in no event shall the liability of Vebit, its affiliates and their respective shareholders, members, directors, officers, employees, lawyers, agents, representatives, suppliers or contractors arising out of the services provided by or on behalf of Vebit or its affiliates, any performance or non-performance of the services, or any other products, services or other items, whether under contract, statute, strict liability or other theory, exceed the amount of fees paid by you to Vebit under these Terms of Use during the twelve-month period preceding the event giving rise to the claim for liability.
4.2 Indemnification
You agree to indemnify and hold harmless the Vebit operator, its affiliates, contractors, licensors and their respective directors, officers, employees and agents from and against any and all claims, actions, proceedings, investigations, demands, lawsuits, costs, expenses and damages (including legal fees, fines or penalties imposed by any regulatory authority) arising out of or related to: 1) Your use of or conduct in connection with Vebit services; 2) Your breach of the Vebit Terms of Service or our enforcement of the Vebit Terms of Service; 3) Your violation of any applicable law, regulation or any third-party right during your use of Vebit services. If you have an obligation to indemnify the Vebit operator, its affiliates, contractors, licensors and their respective directors, officers, employees or agents under the Vebit Terms of Service, Vebit shall have the right to control any action or proceeding in its sole discretion and to determine whether Vebit wishes to settle, and if so, on what terms.
5. Announcements Please note that all official announcements, news, promotions, and user activities of Vebit will be promptly published in the platform's announcement center or news information section. Users undertake to review these materials regularly and promptly. If a user suffers personal loss due to ignorance of or negligence regarding announcements, Vebit shall not bear any liability for compensation.
6. Termination of Agreement
6.1 Suspension of Account
You agree that Vebit has the right to immediately suspend your Vebit account (and any accounts beneficially owned by related entities or related parties), freeze or lock all digital assets or funds in such accounts, and suspend your access to Vebit, for any reason, including suspicion that any such Vebit account has violated these Terms of Use, our Privacy Notice or any applicable laws or regulations. You agree that Vebit shall not be liable for any permanent or temporary modification, or suspension or termination of access to all or part of the services, of your Vebit account. Vebit has the right to retain and use data or other information related to transactions in the Vebit account. The above account controls may also apply in the following circumstances: 1) The Vebit account is subject to governmental proceedings, criminal investigation or other pending litigation; 2) We detect unusual activity in the Vebit account; 3) We detect illegal access to the Vebit account; 4) It is necessary for us to take such measures pursuant to a court order or order of a regulatory/governmental authority.
6.2 Cancellation of Account
6.2.1 If any of the following events occur, Vebit has the right to directly terminate these Terms of Use by canceling your Vebit account, and has the right but not the obligation to permanently freeze (cancel) the rights granted to your account and revoke the corresponding Vebit account: 1) After Vebit terminates the provision of services to you; 2) You are identified as registering, directly or indirectly, as a Vebit user again in the name of any other person; 3) The information you provided is untrue, inaccurate, outdated or incomplete; 4) When the Vebit Terms of Service are amended, you indicate, by applying to cancel your Vebit account or otherwise, that you do not accept the amended terms; 5) You request termination of services and any other circumstances where Vebit considers termination of services appropriate. 6.2.2 If your Vebit account is terminated, account and transaction information that meets data retention standards will be securely stored for 5 years. In addition, if there are transactions that have not been completed during the account termination process, Vebit has the right to notify your counterparty of the situation. You agree that user-initiated account withdrawal (the right to erasure under GDPR or other equivalent regulations) will also be subject to the above termination agreement. 6.2.3 If Vebit is informed that any digital assets or funds in your Vebit account have been stolen or are not lawfully owned by you, Vebit may, but is not obligated to, take administrative control over the affected funds and your Vebit account. If administrative control over part or all of the funds or account is necessary, Vebit may continue to hold them until the dispute is resolved and evidence of dispute resolution acceptable to Vebit has been provided to Vebit in a form acceptable to Vebit. 6.2.4 Vebit will not participate in any such dispute or the resolution of the dispute. You agree that Vebit shall not be liable for any such control or your inability to withdraw digital assets or funds or execute transactions during any period of control.
6.3 Remaining Funds After Account Termination
Except as provided in paragraph 4 below, upon closure/cancellation of a Vebit account, all balances in the Vebit account (including fees and debts owed to Vebit) will be immediately paid to Vebit. After paying all outstanding fees to Vebit (if any), the user will have 5 business days to withdraw all remaining digital assets or funds from the account.
6.4 Remaining Funds After Account Termination Due to Fraud, Illegality or Violation of These Terms of Use
Vebit retains full custody of all digital assets, funds and user data/information in the Vebit account, and such digital assets, funds and user data/information may be turned over to government authorities in the event of suspension/closure of the Vebit account due to fraud investigation, illegality investigation or violation of these Terms of Use.
6.5 Dormant Accounts
If a user fails to withdraw all remaining digital assets or funds from the account within 5 business days after account termination, Vebit may, without prior notice to you, in its absolute discretion: 1) Treat your Vebit account as a dormant account; 2) Close any open positions in any Vebit product; 3) Convert digital assets into different types of digital assets (e.g., from BTC to USDT). For the avoidance of doubt, no Vebit operator shall be liable to you for any loss of profit, tax obligation or any other loss, damage or expense arising from such conversion; 4) Transfer such dormant accounts (including any digital assets contained therein) to an affiliate of the Vebit operator, any third-party custodian or a separate wallet, where Vebit deems reasonably necessary. In the event of such transfer, you have the right to retrieve your digital assets from them, subject to satisfying Vebit's verification requirements, including completing KYC; 5) Charge a dormant account fee to the Vebit operator, its affiliates or any third party to cover the cost of maintaining the assets, which fee shall be deducted monthly directly from the dormant account; 6) Close the dormant account at any time, and Vebit shall not be liable to you for any loss, damage or expense arising from the closure of the dormant account, unless Vebit has committed fraud or wilful default. Any assets in such dormant accounts will be transferred in accordance with paragraph 5 above. After the dormant account is closed, you will not be able to reactivate the account (i.e., if you wish to continue using Vebit services, you will need to register a new Vebit account).
7. Non-Financial Advice
Vebit is not your broker, intermediary, agent or advisor, and there is no fiduciary relationship or fiduciary duty between Vebit and you in connection with any transaction or other decision or activity conducted by you using Vebit services. Any communication or information provided by Vebit to you is not, nor should it be considered or construed as, investment advice, financial advice, trading advice or any other type of advice. Except as otherwise provided in these Terms of Use, all transactions are automatically executed based on the parameters of your order instructions and the published transaction execution procedures. You shall determine whether any investment, investment strategy or related transaction is suitable for you based on your personal investment objectives, financial situation and risk tolerance, and shall bear any loss or liability alone. With respect to your specific situation, you should consult legal or tax professionals. Vebit does not recommend that you buy, acquire, sell or hold any digital assets. Before making any decision to buy, sell or hold any digital assets, you should conduct due diligence and consult your financial advisor before making any investment decision. Vebit is not responsible for your decisions to buy, sell or hold digital assets based on information provided by Vebit.
8. Compliance with Local Laws
Users are responsible for complying with local laws applicable to their use of Vebit services in their locality and other laws and regulations applicable to the user. Users must also consider all aspects of taxation under local laws, including withholding, collection, reporting and remittance to their respective tax authorities. All users of Vebit services confirm and represent that their sources of funds are legal and not derived from illegal activities; users agree that Vebit may, in accordance with relevant laws or government orders, require users to provide or otherwise collect necessary information and materials to verify the legality of their sources and uses of funds. Vebit is committed to cooperating with global law enforcement agencies and will not hesitate to seize, freeze, terminate the accounts and funds of users that are legally authorized to be cancelled or investigated.
9. Privacy Notice
Access to Vebit services requires the submission of certain personal identification information. Please read the Privacy Notice published by Vebit for a summary of guidance relating to Vebit's collection and use of personal identification information.
10. Dispute Resolution: Arbitration Venue, Arbitration, Class Action Waiver
Please read this clause carefully as it involves a waiver of certain rights to bring legal proceedings, including class actions for residents of the United States.
10.1 Dispute Notification Please contact Vebit first! Vebit wants to resolve your concerns without resorting to formal legal proceedings. Before filing a claim, you agree to first contact Vebit to resolve the dispute informally.
10.2 Arbitration Agreement You and Vebit agree to resolve any claim relating to these Terms of Use (including any question regarding the existence, validity, termination of these Terms of Use or any services or products we provide and any statements we make) through final and binding arbitration, except as provided in the Arbitration Exceptions clause below. You agree to first contact Vebit in accordance with paragraph 1 above, giving us an opportunity to resolve any claim. If we are unable to resolve your claim within 60 days after receipt of notice, you may seek relief through arbitration as provided.
10.3 Arbitration Procedures Either you or Vebit may refer a dispute (after attempting to resolve it through friendly negotiation in accordance with paragraphs 1 and 2 above) for final resolution through binding arbitration. Judgment on any arbitration award may be entered in any court having jurisdiction over the party against whom the award is rendered (or over the location of that party's assets).
10.4 Notice To commence arbitration proceedings, you must send a letter requesting arbitration and describing your claim to the official address. If we initiate arbitration against you, we will send notice to the email address or street address you provided.
11. Miscellaneous
11.1 Independent Parties In performing these Terms of Use, Vebit is an independent contractor, not your agent. These Terms of Use shall not be construed as evidence of a union, joint venture, partnership or franchise between the parties.
11.2 Entire Agreement
These Terms of Use constitute the entire agreement between the parties regarding the use of Vebit services and will supersede all prior written or oral agreements between the parties. Trade or other customary practices or methods of dealing between the parties shall not be used to modify, interpret, supplement or change the terms of these Terms of Use.
11.3 Interpretation and Amendment
Vebit reserves the right to modify, revise, amend and change these Terms of Use at any time. All changes are effective immediately upon posting on the website. It is your responsibility to regularly review the relevant pages on our website/application to confirm the current version of these Terms of Use. If you do not agree to any such modification, your sole remedy is to terminate your use of Vebit services and cancel your account. You agree that, unless expressly provided otherwise in these Terms of Use, Vebit shall not be liable to you or any third party for any modification or termination of the Vebit services by Vebit, or for any suspension or termination of your access to the services.
11.4 Force Majeure
Vebit shall not be liable for any delay or failure to perform as required by these Terms of Use due to any cause or condition beyond Vebit's reasonable control.
11.5 Severability
If any part of these Terms of Use is held to be invalid or unenforceable, such invalidity or unenforceability shall not affect the other terms of these Terms of Use, which shall remain in full force and effect, while the invalid or unenforceable part shall be given effect to the maximum extent possible.
11.6 Assignment
You may not assign or delegate any right to use Vebit services or any of your rights or obligations under these Terms of Use, including by operation of law or in connection with a change of control, without the prior written consent of Vebit. Vebit may assign or delegate any or all of its rights or obligations under these Terms of Use, in whole or in part, without notice or your consent or approval.
11.7 Waiver
A party's failure to require performance of any provision shall not affect that party's right to require performance at any time thereafter, and a waiver of any breach of these Terms of Use or any provision hereof by one party shall not constitute a waiver of any subsequent breach by the other party or a waiver of the provision itself.
11.8 Disclaimer of Third-Party Websites
Any link on Vebit services to a third-party website does not imply Vebit's endorsement of any product, service, information or disclaimer provided therein, nor does Vebit guarantee the accuracy of the information contained therein. Vebit shall not be liable for any loss suffered by you as a result of using such third-party products and services. In addition, because Vebit has no control over the terms of use or privacy policies of third-party websites, you should carefully read and understand those policies.
11.9 Contact Information
For more information about Vebit, you may refer to the company and licensing information on the Vebit website. If you have any questions regarding these Terms of Use, please feel free to contact Vebit through our customer service team at (https://vebit.io) for clarification.