Terms & Conditions

These Terms and Conditions (hereinafter referred to as “T&Cs” or “Terms”) constitute a legal and binding agreement between the “Client” (or “You”) and ALTERCAP OU, a company incorporated in Estonia with company registry code 14896187, licensed by Financial Intelligence Unit (“FIU”) into providing services of exchanging a virtual currency against the fiat currency (FVR001484) and providing a virtual currency wallet service (FRK001364), having its registered office at Harju maakond, Tallinn, Kesklinna linnaosa, Tatari tn 56 (hereinafter referred as “Altercap”).

These Terms apply to all, and any services provided by Altercap. By using the Services, You agree with the T&Cs, as updated and amended from time to time. Altercapreserves the right to change, modify, add or remove portions of these T&Cs at any time at its absolute discretion. Your continued use of the Services following the publication of any changes will be deemed as an acceptance of these Terms and Conditions as amended.

1. PROVISION OF SERVICES

Altercap’s scope of services:

  1. Altercap provides a Service of exchanging virtual currencies against the fiat currencies and vice versa (Exchange service);
  2. Altercap provides a service that allows its users to receive, store and send and otherwise manage digital assets using a dedicated cryptocurrency Wallet (Wallet service);
  3. Altercap does not, by any means, provide investment consultancy;
  4. The Client understands and undertakes that crypto currency trading is associated with high risks and potential losses. Altercap cannot be held responsible for any losses that the Client may incur by trading with Altercap.

2. ELIGIBILITY

Altercap’s Services are not for use by minors, and you represent and warrant that:

  1. You have reached the age of 18 before starting to use the Service;
  2. You have not been previously banned or suspended from the use of our Services;
  3. You have the authority to enter into this agreement without a violation of any other agreements that You may be a part of;
  4. You are not a resident/citizen and/or do not hold a passport of any prohibited territories listed in these Terms;
  5. You confirm that by entering into this Agreement and using our Services you are not breaking any applicable laws in the country of your residence;
  6. If you are entering into these Terms on behalf of a legal entity, you represent and warrant that you have all necessary right and authorizations to act on behalf of said legal entity.

3. NON-SERVICED COUNTRIES

In order to comply with international AML regulations, we are currently unable to provide services to residents and companies from some countries. We reserve the right to update this list at our sole discretion.

The list of non-serviced countries is subject to change. Current list of countries: Afghanistan, Albania, Algeria, Bahamas, Bahrein, Barbados, Bolivia, Bosnia and Herzegovina, Botswana, Cambodia, Central African Republic, Crimea, Cuba, DR Congo, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Guyana, Ghana, Iceland, Iran, Iraq, Japan, Jamaica, Kosovo, Kuwait, Lao DPR, Lebanon, Libya, Mali, Mauritius, Mongolia, Myanmar, Nepal, Nicaragua, Pakistan, Palestine, Panama, People’s Republic of China, Qatar, Saudi Arabia, Somalia, South Sudan, Sri Lanka, State of Palestine, Sudan, Syria, Trinidad and Tobago, Uganda, Vanuatu, Venezuela, Yemen, Zimbabwe, United States of America

4. ACCESS TO SERVICES

4.1. APPLICATION

You agree to complete and submit to us a Customer questionnaire as well as submit any additional information and documents as may be requested by Altercap, such documents may include: Passport or other photographic identity document, proof of address document. If you represent a Corporate Client, you will be asked to provide documents, including but not limited to documents confirming the registration and current status of the company, documents confirming shareholding structure of the company and documents confirming that you are authorized to represent the said company. You understand and agree that submission of this data will not guarantee the establishment of the relationship and further provision of Services to You by Altercap.

4.2. VERIFICATION OF DATA

By submitting above-mentioned data, you authorize Altercap to use this data to perform necessary due diligence checks as required by local and international regulations in order to comply with the AML and KYC rules. You understand and agree that your data may be submitted to third parties for verification purposes.

Altercap may, in its sole discretion, refuse to open an account for you.

4.3. PROVISION OF SERVICES

You acknowledge and agree to provide any additional information that may be requested from time to time to verify Your identity or to protect You and Altercap against fraud, financial crime, losses or litigation.

You acknowledge and agree that throughout the relationship with Altercap, your personal information may be disclosed to third parties, such as financial institutions or law enforcement upon relevant official request.

Altercap reserves the right to deny, suspend or terminate provision of Services to any Client, if Client fails to comply with any of the provisions of these T&Cs.

5. TERMS OF EXCHANGE OPERATIONS AND RESPONSIBILITIES OF PARTIES OF THESE TERMS

  1. By using the Service, the Client acknowledges complete legality of his/her activities. The client agrees that any attempt to exchange illegally obtained funds will be judicially or criminally prosecuted to the fullest extent of the law;
  2. Altercap undertakes to take necessary actions in order to prevent attempts of illegal trade, financial fraud and money-laundering through the use of its Services;
  3. Any complete transaction, or other operation within the scope of Services provided by Altercap to the Client is deemed irrevocable, i.e., cannot be cancelled by the client after its completion and reception of the due sum by the Client according to earlier accepted terms of the transaction;
  4. Altercap has the right to suspend or deny the operation in progress if it receives information from the competent bodies about illegality of the client’s possession of Digital Currency or financial assets and/or other information, where further provision of Services would lead to the breach of Terms and Conditions;
  5. Altercap has the right to suspend or deny the operation without providing the reason or explanation;
  6. Wallet Address. You understand and accept that we shall deliver the purchased Digital Currency to the personal digital wallet address you provide to us with respect to each of your purchase orders. You understand and acknowledge that after the Digital Currency is sent to the address you provide, Altercap will not be able to retrieve funds from said address.
  7. You acknowledge that the Altercap can’t be held liable for any error with respect to the instructions you provide;
  8. Altercap does not bear any liability for damages, loss of profit and other costs of the client caused by delays, errors, unreachability of payment systems or failures occurring during bank payments or electronic funds transfers;
  9. The Client guarantees that they are the owner or have necessary legal grounds to dispose of the sums used in his/her transactions;
  10. It is the Client's full responsibility to determine what, if any, taxes apply to the virtual currency exchange transaction they complete via the Service, and it is Client’s full responsibility to report and remit the correct tax to the appropriate revenue authority. You acknowledge and agree that Altercap is not responsible for determining whether taxes apply to your virtual currency exchange transactions;
  11. It is the responsibility of the Client to report to relevant authorities, if and when required, any cryptocurrency balance amounts held in Client’s cryptocurrency wallets as provided within Altercap’s Wallet service.

6. COST OF SERVICES

  1. Client acknowledges that any transaction within the scope of these Terms will incur costs in a form of different fees. Those include, but are not limited to: Processing fees, Service fees, Network fees;
  2. Client agrees to pay all relevant fees that may be published in these T&Cs or otherwise agreed in a written form between the Client and Altercap;
  3. Client acknowledges that some fees, including but not limited to Network fees, are dynamic, and may change from transaction to transaction;
  4. Relevant fees for any of the Service provided under the scope of these terms (Exchange service or Wallet service) will be displayed upon creation of the Buy/Sell order or Wallet withdrawal request. You can cancel the order any time if you do not agree with the applied fees.

7. PROHIBITED ACTIVITIES AND TERMINATION OF SERVICES

Altercap reserves the right to Terminate the provision of Services to a Client without a prior notice, if they are found participating in any activities that violate these T&Cs, including, but not limited to:

  1. Actions that may be offensive to public order and morals, or violate laws, regulations, and ordinances;
  2. Knowingly providing false information to Altercap during the process of on-boarding or throughout the provision of services;
  3. Any Client’s actions, where the purpose is to scam or cheat Altercap, that could potentially lead to losses by Altercap
  4. Illegitimate use of other people’s email addresses or any other personal information;
  5. The Client provided false, incorrect or incomplete information regarding their Identity or the origin of their funds;
  6. The Client is suspected of or is identified to be connected with Money Laundering and/or Terrorist financing or performance of fraudulent activities;
  7. The Client is suspected to have used, be using or attempting to use the Services of Altercap to conduct unlawful and fraudulent activities, including money laundering or terrorist financing related activities, or any other activities that aim to circumvent international sanctions or other restrictions;
  8. Altercap is in possession of information about Client’s reputation, which may have a direct or indirect impact on the operations of Altercap or may cause unfavorable events for Altercap, including but not limited reputational risks;
  9. Altercap’s supervisory authority (regulator) or any other government institution, international organization or banking partner urges termination of the business relationship with the Client;
  10. The Client is ignoring requests to submit information required under applicable laws to Altercap;
  11. The Customer is a subject of the Law on Prevention of Laundering of Proceeds Derived from Criminal Activities and Terrorist Financing and the Customer’s internal control system does not comply with the requirements of the legislation governing the area of anti-money laundering and terrorist financing prevention;
  12. Other events that may be specified within Altercap’s internal AML policies.

8. LIMITATION OF LOSS

Scope of services provided by Altercap is exclusively limited to the services listed in paragraph 1 of these T&Cs. Altercap does not provide brokerage or investment consultancy services.

  1. In no event shall we be held liable for any of the following types of loss or damage arising under or in connection with these Terms or otherwise:
  2. Any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and / or any actual or hypothetical trading losses;
  3. Any loss of use of hardware, software or data and / or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and / or any interruption in any such data;
  4. Any loss or damage whatsoever which does not stem directly from our breach of these Terms; and / or any loss or damage whatsoever which is in excess of that which was caused as a direct result of our breach of these Terms (whether or not you are able to prove such loss or damage);
  5. Any loss or damage due to circumstances beyond our control such as war or the threat of war, a change of political regime or other third-party actions;
  6. Any loss or damage due to technical failures and/or other errors of our third party technology service providers, including but not limited to liquidity providers, KYC/AML software providers, blockchain wallet software providers, blockchain raw data providers and blockchain analytics software suppliers;
  7. Incorrectly provided crypto address (wallet address). Once you have made a mistake, you will not be able to revoke the transaction;

9. ACKNOWLEDGEMENT OF RISKS

By using the services of Altercap, the Client acknowledges that:

  1. Cryptocurrencies carry significant risks and you acknowledge those risks and shall carefully consider whether it is appropriate for you to buy cryptocurrency;
  2. You accept and acknowledge the risks associated with the use of cryptocurrency wallets including the risk of equipment failure; the risk of software malfunction; disruption of internet access; the risk of spreading malware; and the risk of third parties gaining unauthorized access to information stored in your cryptocurrency wallet. Altercap will not be held responsible for any communication failures, errors or delays you may experience;
  3. Altercap can’t be held responsible for any losses, damages or claims that may arise from the use of corrupted wallets, mistyped wallet addresses, viruses or third-party attacks;
  4. While using the Service, you assume full responsibility for your wallet. Remember you are responsible for protecting your wallet from unauthorized access and taking the necessary steps to secure your private keys when using an external wallet or securing your passwords and enabling 2FA when using Altercap’s Wallet service;
  5. In case of cancellation of the execution of your Buy/Sell order or cancellation of a related transaction, all commission costs for electronic money transfer, exchange costs or other coststhat are charged to Altercap will be withheld from the amount received from the Client;
  6. Altercap calculates the amount of the Cryptocurrency or Fiat to be paid out at the rate fixed at the time of receipt of funds from the Client. The rates and amounts displayed on the website upon creation of your Buy/Sell order are indicative and are subject to change. Final amounts will be displayed in the Invoice and in your Dashboard once the order is completed
  7. Altercap has the right to stop the sale of electronic currencies, in the event where a Client does not provide their identity documents and up until the moment when this requirement is met;

10. THIRD PARTY SERVICE PROVIDERS

By using the Services of Altercap, the Client agrees with following Terms in relation to Third party service providers or third party systems that Altercap may be using throughout different aspects of its operations:

  1. Altercap uses third party services and such third party’s affiliates services which enable you to place monetary deposits and perform exchange transactions;
  2. Altercap may share and transfer (including cross border transfer) Personal Information with the Third Party Service Provider for the purpose of rendering the Services. The Personal Information will be shared with the Third Party Service Provider after you select to execute such monetary payments by using the Services of the Third Party Service Provider. For the purpose of this section Personal Information shall include information that identifies or may identify you, including the information submitted by you through the registration form when you subscribe to the website such as your E-mail address, country and city and/or information provided through social websites or any other identifying information provided by you while using the services of our website.
  3. In addition, we may transfer any Non-Personal Information provided by you through your use of the services on our website to the Third Party Service Provider in order to allow the Third Party Service Provider to perform preliminary examinations of Non-personal Information for the purpose of determining if you are qualified to use the services of such Third Party Service Provider (including the history of your transactions on the website which will be provided without any identifying information and solely for the purpose of performing the preliminary examinations).
  4. By accepting these terms, you represent that all information you provide us is true and accurate. Any false or fraudulent information and/or use of the services rendered to you is prohibited.
  5. You are not obligated by law to provide Partner and/or the Third Party Service Provider with any Personal Information. You hereby acknowledge and agree that you are providing Partner and/or the Third Party Service Provider with Personal Information at his/her own free will, for the purposes of rendering the Services.

11. USE OF WEBSITE

Altercap website may contain links and pointers to other websites and resources. Such links do not constitute an endorsement by Altercap of any third-party resources or their contents. Links do not imply that Altercap is in any way affiliated or associated with third parties or is legally authorized to use any trademark, trade name, logo or copyright symbol displayed in or accessible through a link, or that any Linked websites are authorized to use any trademark, trade name, logo or copyright symbol of Altercap. You should direct any concerns regarding any Linked website to such Linked website's website administrator or webmaster. Altercap does not represent or endorse the accuracy or reliability of, and expressly disclaims, any advice, opinion, statement, or other information displayed or distributed through any Linked website. You hereby acknowledge that reliance upon any opinion, advice, or information displayed on or otherwise available through any Linked website shall be at Your sole risk.

You agree that the content of this website is an intellectual property of Altercap and is protected by the laws on property rights, intellectual property rights and copyrights. Unapproved use of this content is forbidden and illegal.

12. FORCE MAJEURE

Altercap is not liable and does not reimburse damages as a result of inadequate performance of its obligations to the client caused by force majeure circumstances. Such circumstances, include in particular: failures; equipment shutdowns or work with power supply failures; acts of God; natural and industrial accidents; acts of terrorism; military operations; civil disorders; acceptance by public authorities, acceptance of laws containing prohibitions or restrictions concerning the activities of Altercapor related payment system by public authorities, local governments or administrations of payment systems; other circumstances that cannot be reasonably foreseen or prevented in advance and that prevent provision of the services of Altercap.

13. PRIVACY

Please refer to our Privacy Policy.

14. DISPUTE RESOLUTION

If you are not satisfied with the Services provided by Altercap under these T&Cs, you are invited to file a complaint and seek for the resolution through correspondence with us. Please use contact details that are available on our website www.altercap.com. Any disputes shall be resolved by means of correspondence and negotiation between affected parties. These T&Cs are governed by the laws of Republic of Estonia

If you have any questions in regard to these terms and conditions, your rights and obligations arising from these terms and/or your use of the Services, please contact us info@altercap.com.