Terms of use

TERMS OF USE

These Terms of Use constitute a public electronic legally binding agreement between you and GRX EUROPE ltd., registered under the law of Bulgaria, with registration No. 208080324 (hereinafter "the Company", "We" or "Us"), governing your access to and use of this website, mobile application, and any other services provided by us. By accessing and using our Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Use, as well as any additional terms, policies, or guidelines that are incorporated by reference or otherwise apply to specific parts of our Services, such as our Privacy Policy and AML Policy.

By using the Services, you authorize the Company to take any and all actions that we think are necessary or desirable to provide the Services and to comply with Applicable Laws and regulations.

If you do not agree with these Terms of Use, or if you are unable or unwilling to comply with any of the provisions herein, you must not access or use our Services. We reserve the right to modify or update these Terms of Use at any time and for any reason, with or without notice. It is your responsibility to review these Terms of Use periodically for any changes, so we urge you to make a copy of the text of these Terms of Use for future reference. Your continued use of the Services following the posting of any changes to these Terms of Use will signify your acceptance of those changes.

Please note that the Company may offer different services in different jurisdictions or to different user segments, and the availability and scope of our Services may be subject to additional terms, policies, or guidelines that are specific to your jurisdiction or user segment. It is your responsibility to familiarize yourself with and adhere to any such additional terms, policies, or guidelines.

1. Administrative Information

1.1. Our Contacts

The Company is organized and exists under the laws of the Republic of Bulgaria.

Address: 1 "Atanas Dukov" St., 6th floor, Hladilnika district, Lozentz region, Sofia 1407, Bulgaria

E-mail: legal@goldenratio.exchange

1.2. License and Services

The Company is a Virtual Asset Service Provider accreditation holder. Under the VASP accreditation, the Company provides the following Services:

Fiat and crypto storage and exchange;
Exchange crypto to crypto;
Exchange crypto to fiat and fiat to crypto;
Informational services on the balance.

Please note that the Company may modify, suspend, or discontinue any of the Services at any time, with or without notice, at our sole discretion. Furthermore, the availability and scope of our Services may vary depending on your jurisdiction, user segment, or other factors. The Company does not guarantee the continuous, uninterrupted, or error-free operation of our Services. We shall not be liable for any losses or damages arising from interruptions, delays, or errors in the Services.

2. Definitions

The definitions set out in this section shall apply in these Terms of Use as follows:

"Fiat Currency" shall mean a currency that is issued by a country and is designated as legal tender in that country.

"Account" shall mean your virtual interface within The Company that is intended for your use of our Services and accessible via the Website by using your registration email, long-term password, and 2FA ("User Credentials") to log in.

"Virtual Assets" shall mean:

digital representation of value that can be used for payment or investment purposes that is not a fiat currency and that can be readily exchanged for funds or for another virtual currency that can be readily exchanged for funds; or
private key of a cryptographic system that enables a person or entity to have access to a digital representation of value referred to in paragraph (a).

"Business Day" shall mean business days of the Republic of Bulgaria, except for legal public holidays.

"Fees" shall mean the fees we will charge you for the provision of the Services, the details of which are set out on ourWebsite.

"Merchant" (also referred to as "You") shall mean a person who is engaged in the sale of goods and services and who has concluded an individual agreement with us for the provision of our Services. Merchants, their employees and contractors each shall refer to a "User". The Merchant must meet the eligibility criteria set out in section 3 of these Terms of Use.

"Applicable Law" shall mean the laws of Bulgaria.

Any use of the above terminology or other words in the singular, plural, capitalization, and/or he/she or they are taken as interchangeable and therefore as referring to the same. Words “include”, “includes”, and “including” shall be deemed to be followed by the phrase "without limitation".

3. Eligibility Criteria

To access and use certain features of the Services, you must register for an Account. By creating an Account, you represent, warrant, and agree to the following:

you have the capacity to enter into and be bound by these Terms of Use and any other document related thereto;
in the case of legal representation, you are duly authorized to enter a contractual relationship with us based on these Terms of Use on behalf of the person you are representing;
in the case of a natural person, you are of the age of full legal capacity and reside in a country in which our Services are legally accessible;
in the case of a legal person, it is duly established and operates in a country in which our Services are legally accessible;
you are not a resident, citizen, or agent of, or incorporated in, and do not have a registered office in restricted jurisdictions (as stated in the AML Policy) or any other country or region that is the subject of comprehensive country-wide or region-wide economic sanctions;
you are not the subject of economic or trade sanctions administered or enforced by any governmental authority or otherwise designated on any list of prohibited or restricted parties (including the list maintained by OFAC, UN, EU).

If you do not meet or no longer meet the eligibility criteria set out above, the Company has the right to refuse Services to you.

4. User Representations and Warranties

As a condition to accessing or using the Services, you represent, warrant, and agree to the following:

you will maintain the security of your User Credentials, and you accept all risks and responsibilities for any unauthorized access to your Account and any resulting loss or damage;
you will not create more than one Account or create an Account for anyone other than yourself without the person's explicit consent;
you will not use your Account or the Services to engage in any illegal, fraudulent, or other prohibited activities or to violate any applicable law, regulation, or guideline;
you will not use your Account or the Services to engage in any activity that could damage, disable, overburden, or impair the Services or interfere with any other party's use of the Services;
you will provide accurate, current, and complete information during the registration and KYC process and notify us immediately, no later than within 5 (five) calendar days, of any changes to any information you have provided to us in connection with KYC-procedure (including names of authorized persons, your name/title, code, place of residence/registered office address, place and nature of business, email address, shareholders’ structure, restructuring, bankruptcy or liquidation proceedings, etc.). At our request, you must also submit any documents supporting such changes in information or circumstances, irrespective of whether such information or documents have been provided to public registers. If the Merchant or any of its representatives fails to submit the required data and is unresponsive and/or submits incomplete data or if the data is incorrect, or its representative avoids submitting the data required for establishing its identity, conceals the identity of the beneficial owner or avoids submitting the information required for establishing the identity of the beneficial owner, or the submitted data is insufficient for this purpose, The Company can refuse to provide services or establish/continue the business relationship;
you will commit to integrating on your website and/or system a standard disclaimer for purchasers in a non-modified form and make sure that your customers expressly confirm their acquaintance with said disclaimer prior to making any payment to you, where you decide to integrate the Company, any part thereof, such as application programming interfaces (APIs) and/or plug-ins on your website and/or system;
you are solely responsible for all activities that occur under yourAccount, whether or not you authorize them;
you ensure that your use of the Services does and at all times will comply with all applicable anti-money laundering/anti-terrorist funding compliance laws and regulations, including, without limitation, all OFAC-administered sanctions programs and any other sanctions programs that may apply to you based on the jurisdiction(s) in which you operate your business and serve your customers;
you confirm that any Virtual Asset or Fiat involved by you in transactions is owned by you and is derived from legitimate sources.

5. User Account

To access and use certain features of the Services, you must register for an Account. The e-mail address specified by you during the setup of your Account and intended for your identification and login to your Account shall be valid throughout the entire period of validity of your Account. If needed (upon your request) and upon satisfactory compliance with our request for documents and information, we can manually change your email address. Your User Credentials may only be used by you and by persons authorized by you. You may not distribute or transfer access to your Account to third parties.

All transactions completed through your Account will be deemed to have been lawfully completed by you. You will ensure the security and confidentiality of your User Credentials and will notify The Company immediately, by email at support@goldenratio.exchange, if any User Credentials are lost, stolen, or otherwise compromised.

In connection with establishing an Account, you will be asked to pass the KYC procedure, as outlined in Section 8.

We will review and assess information and/or documents submitted to us by you. Upon assessment of the information and documents obtained, access to our Services will be granted, and you will be able to start using our Services unless we conclude that you are not eligible to gain access to our Services.

6. Transactions (exchange, withdrawal, deposit)

After you create an account with The Company, you can accept virtual currency payments from your customers.

You authorize The Company to receive Virtual Assets, temporarily hold, exchange, and disburse them on your behalf, as well as deduct the applicable Fees and other costs, and to take any and all actions that we deem necessary or desirable in order to provide our Services to you and comply with any Applicable Law and these Terms of Use.

In order to enable the provision of Services before executing any payment Transaction, Merchants may be required, upon a request of the Company, to complete a verification process at the time of payment, depending on the amount of the transaction, as part of our AML/CTF compliance obligations. We reserve the right to request personal information of your customers, such as a photo of a national ID, passport, or driver's license if the collection of such information is required by law.

Limits. The Company reserves the right to impose limits on transaction amounts or frequency at its discretion, based on factors such as transaction history, risk assessment, and regulatory requirements. Users may be required to provide additional information or undergo further verification procedures in order to increase or remove these limits.

Suspicious Transactions. In the event of any suspicious or potentially fraudulent transactions, the Company reserves the right to suspend or delay such transactions for further investigation. The Company may request additional information from the User to verify the legitimacy of the transaction and may, at its sole discretion, decide to approve or reject the transaction based on the findings of its investigation. Users shall promptly notify The Company of any unauthorized transactions or discrepancies in their account balances. The Company will investigate such reports and take appropriate action to address any issues.

Relationships Between Merchants and Their Customers. Payments by your customer to us will be considered the same as payments made directly to you. We collect Virtual Assets into your Account exclusively for you and on behalf of you. You remain the owner of Virtual Assets that we hold for you and on behalf of you. In relation to payments in Virtual Assets made to you, any legal relations are between you as a Merchant and your customer making a payment. The Company is not a party to relations between you as a Merchant and your Customer making payments in Virtual Assets. We do not accept any queries, letters, requests, and/or complaints, as well as liability for the quality, legality, safety, delivery or any other aspect regarding you, your services, products, activities, and/or a payment and/or a donation, or a purchase related to the relationship between you as a Merchant and your customer. Any disputes between you as a Merchant and your customer shall be resolved exclusively between you and your customer.

Liability. Users are solely responsible for the accuracy of payment details provided during the transaction process, including but not limited to wallet addresses and payment amounts. All Virtual Assets transactions are at your sole risk. The Company is not responsible for any errors made by the User in providing payment details and shall not be held liable for any losses that may occur due to such errors.

Transactions processing. The Company will take reasonable measures to ensure that transactions are processed in a timely manner. However, the Company makes no guarantees regarding the processing time for transactions and shall not be held liable for any delays or losses that may occur due to technical issues, system failures, or other factors beyond the Company's control.

Taxes. The Company is not responsible for any taxes, duties, or other fees that may arise from the User's transactions. Users are solely responsible for determining their tax obligations and reporting their transactions to the appropriate tax authorities in accordance with applicable laws and regulations.

7. Prohibited Activities

Unlawful Business. Services aren't available for Users who carry out activities related to the sale and purchase, exchange, or other transactions involving the transfer of ownership, possession, use, or disposal of the following groups of goods or services:

alcoholic beverages;
cigarettes and tobacco products;
narcotic substances and precursors;
pornographic materials or items, child pornography, escort services, or prostitution services;
drugs, pharmacological products, medicines;
stolen, illegally obtained goods;
items posing a danger to life and health;
non-existent goods;
human organs and remains, and organs and remains of animals;
special technical means of secretly obtaining information;
any electronic, mechanical, or computer equipment prohibited or restricted in circulation or use;
state awards; personal documents, as well as forms of these documents;
objects of history and art that constitute the cultural values of the country in which the consumer is located;
firearms, edged weapons, traumatic weapons, stun guns, as well as ammunition and accessories for them;
special means of active defense used by law enforcement agencies;
precious metals and precious stones not in the product;
counterfeit currency and currency values;
rare and prohibited for sale animals, incl. animals listed in the CITES (the Convention on International Trade in Endangered Species of Wild Fauna and Flora);
any other goods and services prohibited by Applicable law.

Users are also prohibited from selling goods or services without a corresponding permit or license, which requires an appropriate permit and/or a license for at least one of the parties to the transaction.

Abusive Activity. Services aren't available for Users:

whose actions impose an unreasonable or disproportionately large load on The Company's infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information; attempt to gain unauthorized access to other Users' accounts, computer systems, or networks connected to the Website, through password mining or any other means;
who use accounting information of another party to access or use the Services; who transfer the Account access or rights to the Account to a third party, unless by operation of law or with The Company's express permission;
who (try to) modify, disassemble, decompile or reverse-engineer the Services; who provide any false, inaccurate, or misleading information to us;
who transmits spam, chain letters, or other unsolicited emails;
who attempt to interfere with, compromise the Company’s system integrity or security, or decipher any transmissions to or from the servers running the Website;
who impersonate another person or otherwise misrepresent the User's affiliation with a person or entity, conduct fraud, hide or attempt to hide their identity;
who use any device, software, or routine to bypass The Company's robot exclusion headers, or to interfere or attempt to interfere with any activities conducted on the Website; who access any content on the Website through any technology or means other than those provided or authorized by The Company;
who bypass the measures we may use to prevent or restrict access to the Services, including without limitation removing, circumventing, disabling or otherwise interfering with security-related features or features that prevent or restrict the use or copying of any content or enforce limitations on the use of the Services or the content therein; or who delete The Company's copyright or other proprietary rights notices.

Intellectual Property Infringement. Services aren't available for Users who:

engage in transactions that violate, infringe, or misappropriate any intellectual or industrial property right of any person (such as copyright, trademarks, patents, or trade secrets, or other proprietary rights of any party), right of publicity or privacy, or commit a tort;
use of The Company's intellectual property, name, or logo, including use of The Company's trade or service marks, without express consent from The Company or in a manner that otherwise harms The Company or its brand;
create a false identity for the purpose of misleading others or fraudulently or otherwise misrepresent yourself to be another person or a representative of another entity, or fraudulently or otherwise misrepresent that the User has an affiliation with a person, entity, or group.

We reserve the right, without any prior notice or explanation, to refuse any User to provide our Services or to terminate an existing business relationship with you if:

we have a reasonable doubt that the activity being carried out violates any of the prohibitions specified in these Terms of Use;
we have a reasonable suspicion of sanction evasion risk;
the User's actions contradict public order or norms of moral standards.

8. AML/CTF requirements

The Company is committed to complying with all relevant legal requirements in the field of AML/CTF. Failure to submit the required information and documents or provision of incorrect or incomplete information and documents, or failure to comply with our other requests, will result in our Services being unavailable to you.

You can find a list of documents and information that we are obliged to request from you in our AML Policy. The Company performs the customer due diligence measures by means of our trusted partner Sumsub.com (Sum and Substance Ltd). If the User is uncooperative with our service provider and does not provide the requested data or information necessary to perform customer due diligence, we have the right to terminate a business relationship with such User. In order to be fully compliant with the AML laws, the Company:

performs monitoring of transactions. In the case of a suspicious and/or unusual transaction, we have the right to suspend it, including, but not limited to, the suspension of a withdrawal of your Virtual Assets/Fiat, for a certain period of time. The Company will not be liable to you for any default on any contractual obligations and for any damages or losses sustained by you;
reports any suspicious activity identified during the business relationship with Users to FCIS Bulgaria and other relevant authorities. The Company will not be liable to you for the execution of such an obligation.

The Company reserves the right to terminate a business relationship with User at any time if we determine that continuing such a business relationship exposes us to a money laundering and terrorist financing risk we no longer deem acceptable.

9. Fees

The Company charges Fees for the use of its Services, which are automatically deducted from your Account. The applicable Fees for each transaction will be displayed to you before executing the transaction.

The User is responsible for maintaining an adequate balance and sufficient proceeds in the Account to pay for fees and complete transactions, thereby avoiding overdraft, insufficient funds, or similar fees being charged. If you owe us any Fees, we will take the respective Fees you owe us from the Virtual Assets/Fiat we process on your behalf on the due date without your instruction. If you do not have enough Virtual Assets/Fiat to pay the Fees, we reserve the right to suspend the provision of our Services to you until such Fees are paid to us.

The Company may change the Fee structure at any time, including adding new fees for new Services. We will notify you of any changes to the Fee structure, which may be done by posting a notification on the Website or sending you an email. If you do not agree with the proposed changes, you should terminate your use of the Services and close your Account.

10. Refunds

Users understand and acknowledge that Virtual Asset transactions are irreversible and that the Company has no control over the Virtual Assets once they have been transferred to an external wallet or another platform. Users are responsible for ensuring the safety and security of their Virtual Assets and for conducting transactions with trusted and reputable third parties. We are not responsible for the Merchants’ refund policies. We suggest that Merchants provide a clear refund policy to their customers. Merchants are responsible for handling refund requests made by their customers. If we receive a refund request directly from a Merchant's customer, we will direct the customer to contact the Merchant to resolve the issue. We will not mediate disputes between Merchants and their customers, but may assist in providing relevant information, if necessary.

The Company reserves the right to establish the minimum amount that can be refunded on your behalf. If the amount requested is lower than the minimum refundable amount, the Company reserves the right not to issue the refund. Please note, we may charge Fees and deduct other costs for processing refunds on your behalf.

At our sole discretion, we may offer transaction reversals, refunds, or chargebacks in specific circumstances. Merchants must submit a request for such actions in accordance with The Company's policies and provide all necessary information and documentation to support their claim. The Company will review the request on a case-by-case basis and may approve or reject it based on its assessment of the situation.

11. Invoices

To receive a Virtual Asset payment, the User must create an invoice. This request must be made for the amount you wish to collect in your chosen settlement currency, and must be displayed on The Company's hosted Invoice User interface during checkout.

When processing transactions, we use the current Virtual Asset exchange rate, which is available through our Website and in your Account.

You must assume the volatility risk of your settlement Virtual Asset, as we do not guarantee the future value of your chosen currency. We do not guarantee the future value of the US Dollar or any other currency. If you choose to receive some or all of your settlement in Virtual Asset, we do not guarantee the future value of that Virtual Asset.

Once a transaction has been fully paid by your customer, reaches the required number of block confirmations, and is credited to your Account, the invoice is considered "Complete" by us. The number of confirmations required for a transaction may vary depending on the blockchain being used and our internal risk analysis.

To reduce the risk of fraudulent payments, we employ various risk mitigation techniques to detect unconfirmed payments, such as payments that are at risk of never receiving the required number of block confirmations. However, these measures do not entirely eliminate the risk associated with unconfirmed payments.

If, based on the result of transactions monitoring, we have reason to suspect that the cryptocurrency used as payment comes from an illegal source or is "dirty", the Company has the right to freeze such payment to ascertain the circumstances. In this case, the Merchant is obliged to request their customers for confirmation of the origin of the source of funds and provide it to us. The Company will examine the submitted documents as soon as possible and decide to unfreeze the transaction if it complies with our risk appetite.

You may choose to inform your customer about the status of an invoice, such as when the customer has sent payment, but the transaction has not yet been confirmed. A confirmed invoice indicates that payment has been made, and the required block confirmations have been reached, and the transaction has also passed our risk validation measures, but it still needs to be credited to your account ledger.

We are not liable for settling invoices that are not considered fully paid or complete. In other words, if you accept payment before it is credited to your account ledger, it will not be settled to you if it is determined to be fraudulent or otherwise invalid.

The Company may add new Virtual Assets to the invoice, and these additional currencies will be enabled by default unless you request that we disable them. We may also remove certain Virtual Assets as a payment option under certain circumstances.

All transactions, including payments, deposits, withdrawals, and others, are recorded in the User's Account and can be accessed for a period of time determined by The Company. If you identify an error, you must notify us within thirty (30) calendar days at support@goldenratio.exchange.

12. Account Closing and Suspension

The User may close their Account at any time by contacting our Customer support at support@goldenratio.exchange after withdrawing all balances, subject to minimum amounts which technically cannot be withdrawn. Upon closure of the account, the User authorizes the Company to cancel or suspend any pending transactions at the time of cancellation, and any balance in the account will be delivered to the User or to their Virtual Assets address as instructed, less any outstanding amounts owed to us, the unsubsidized coin/miner network transaction fee, and any other third-party charges.

The User shall not use closure of the account as a means of evading investigation or inquiries by The Company. If any queries or investigation is pending at the time the User requests closure of their account, we may refuse the User’s request to close the account and hold their Virtual Assets and funds as appropriate to protect The Company against financial and legal liability. If the User is later determined to be entitled to some or all of the Virtual Assets and funds in dispute, we will pay such Virtual Assets and funds to the User. The User will remain responsible and liable for all obligations related to the account, even after such an account is closed.

If the User does not access the Company account for a period of six (6) months, and we have been unable to contact the User after a reasonable number of attempts at the last contact address we have for the User in its records, the account may be terminated in our sole discretion.

We reserve the right to suspend your account in the event:

we reasonably believe your account has been compromised, as well as for any other security reasons;
we reasonably believe your account is being used by a person with no right and/or authorization to do so;
the User fails to comply with these Terms of Use, as well as with any other document that construes a part of these Terms of Use;
the User has provided us with any false, incomplete, misleading, or inaccurate information; the User, their account, and their behavior pose reputational risks to The Company;
we reasonably suspect the User of fraud, violating the Applicable Law;
the User refuses to pay Fees;
other reasons that constitute a violation of these Terms of Use and the Applicable Law.

We may, but are not obliged to, notify the User about the reasons for their account suspension. Assets from the account will be withdrawn to wallets, information about which the User shall provide to the customer support.

In the event of account closing or suspension, the User will still be liable for all applicable fees. The Company is not liable for any losses suffered due to the User's account closure or suspension.

13. Content. Intellectual Property. License

The Company may produce and display content (the "Content") on the Website, which includes but is not limited to information, texts, images, video, and audio files.

The Content does not constitute any form of investment advice, financial advice, trading advice, or any other sort of advice unless specifically mentioned otherwise and should not be construed as such. The Company shall not hold liability for any actions that arise from its Content. All components, Content of the Website, and the Website as a whole belong to The Company and are protected by, including, but not limited to, copyright, trademarks, and trade secrets. All rights reserved.

You must not reproduce, reprint, publish, modify, distribute, display, transmit, license, transfer, or otherwise exploit Content or technology from the Website without The Company's prior written consent.

Violation of any of the intellectual property rights of The Company is strictly prohibited. If the User posts, uploads, inputs, provides or submits its personal data to The Company, including without limitation, names, email addresses, IP addresses, cryptocurrency addresses, texts, code or other information and materials, sign up to The Company’s mailing list or create the Account (collectively, "User Content"), the User must ensure that the User Content provided by the User at that or at any other time is true, accurate, up to date and complete and that any User Content posted, uploaded, input, provided or submitted to The Company does not breach or infringe the intellectual property rights of any third party. The Company does not own, control or endorse any User Content that is sent to The Company.

The User represents and warrants that:

the User owns all intellectual property rights (or has obtained all necessary permissions) to provide the User Content and to grant the licenses in these Terms;
the User Content will not violate any agreements or confidentiality obligations, and the User Content will not violate, infringe, or misappropriate any intellectual property right or other proprietary right, including the right of publicity or privacy, of any person or entity.

The User is responsible for maintaining the confidentiality of the User Content and any of its non-public information. Furthermore, the User is entirely responsible for any and all activities that occur under the Account. The User agrees to notify The Company immediately of any unauthorized use of the User Content, the Account, or any other breach of security. The Company will not be responsible or liable for any loss or damages that the User may incur as a result of someone else using the User Content or the Account, either with or without the User’s knowledge. However, the User could be held liable for losses, expenses, and costs incurred by The Company or another party due to someone else using the User Content or the Account. The User may not use anyone else’s content or account at any time without the permission of such person or entity.

By posting, uploading, inputting, providing or submitting the User Content to The Company, the User grants The Company and any necessary sub-licensees a non-exclusive, worldwide, perpetual, right and permission to use, reproduce, copy, edit, modify, translate, reformat, create derivative works from, distribute, transmit, publicly perform and publicly display the User Content and sub license such rights to others.

Although the Company has no obligation to screen, edit, or monitor the User Content, the Company reserves the right to monitor the Website and User Content posted on the Website. The User agrees that The Company may, in its sole discretion, review and delete any User Content that violates these Terms or that might be offensive, illegal, or that might violate the rights of, harm, or threaten the safety of other Users or any third party. The Company also reserves the right to access, read, preserve, and disclose any information as it reasonably believes is necessary to:

satisfy any applicable law, regulation, legal process, or governmental request;
enforce these Terms, including investigation of potential violations hereof;
detect, prevent, or otherwise address fraud, security, or technical issues;
respond to User support requests;
protect the rights, property, or safety of The Company, its Users, and the public.

The User understands that the technical processing and transmission of the Website, including User Content, may involve:

transmissions over various networks;
and changes to conform and adapt to the technical requirements of connecting networks or devices.

We do not endorse any User Content or any opinion, recommendation, or advice expressed therein, and We expressly disclaim any and all liability in connection with User Content. We do not permit copyright-infringing activities and infringement of intellectual property rights on the Website, and We will remove all User Content if properly notified that such User Content infringes on another’s intellectual property rights. We reserve the right to remove User Content without prior notice.

If the User believes that its work has been copied in a way that constitutes copyright infringement, or that its intellectual property rights have been otherwise violated, the User should notify us of its infringement claim at legal@goldenratio.exchange.

The Company respects the intellectual property rights of others and expects its Users to do the same. We will respond to notices of alleged copyright infringement that comply with applicable law and are properly provided to us. If the User believes that its Content has been copied in a way that constitutes copyright infringement, please provide The Company with the following information:

a physical or electronic signature of the copyright owner or a person authorized to act on their behalf;
identification of the copyrighted work claimed to have been infringed;
identification of the material that is claimed to be infringing or to be the subject of infringing activity and that is to be removed or access to which is to be disabled, and information reasonably sufficient to permit The Company to locate the material;
the User’s contact information, including address, telephone number, and email address; a statement by the User that the User has a good faith belief that use of the material in the manner complained of is not authorized by the copyright owner, its agent, or the law; and a statement that the information in the notification is accurate, and, under penalty of perjury, that the User is authorized to act on behalf of the copyright owner.

Any User Content submitted by the User may be accessed by The Company globally. Except for the User Content and The Company’s communications and all materials therein or transferred thereby, including, without limitation, software, technology, code, images, text, graphics, illustrations, logos, patents, trademarks, service marks, copyrights, photographs, audio, videos, music, and content belonging to other Users (the “The Company’s Content”), and all Intellectual Property Rights (defined below) related thereto, are the The Company’s exclusive property and The Company’s licensors. Except as explicitly provided herein or in any applicable additional terms and conditions, nothing in this Terms shall be deemed to create a license in or under any such Intellectual Property Rights, and the User agrees not to sell, modify, reverse engineer, license, rent, distribute, copy, reproduce, transmit, publicly display, publicly perform, publish, adapt, edit or create derivative works from any of The Company’s Content, absent specific consent in writing from Us. Use of The Company’s Content for any purpose not expressly permitted by these Terms is strictly prohibited.

We grant the User a non-exclusive, limited, non-transferable, freely revocable license, subject to these Terms, to access and use the Services, and related content, materials, information (collectively, the “Content”) solely for approved purposes as permitted by Us from time to time. Any other use of the Content is expressly prohibited, and all other right, title, and interest in the Content is exclusively the property of The Company and its licensors. The User agrees not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part. “GRX”, “Golden Ratio Exchange”, and all logos related to the Services are The Company’s trademarks or registered marks. The User may not copy, imitate or use them without the Company’s prior written consent.

For this Terms, “Intellectual Property Rights” means all patent rights, copyright rights, mask work rights, moral rights, rights of publicity, trademark, trade dress and service mark rights, goodwill, trade secret rights and other intellectual property rights as may now exist or hereafter come into existence, and all applications therefore and registrations, renewals and extensions thereof, under the laws of any state, country, territory or other jurisdiction. We may display third-party content, advertisements, links, promotions, logos, and other materials (collectively, the “Third-Party Content”) for the User’s convenience only. We do not approve of, control, endorse, or sponsor any third parties or Third-Party Content, and the We make no representations or warranties of any kind regarding such Third- Party Content, including, without limitation, the accuracy, validity, legality, copyright compliance, or decency of such content.

14. Confidentiality and Privacy

The Company will not disclose confidential information received in connection with Service provision without the prior written consent of the other User.

The information shall not be treated as confidential, and the Company shall have no obligation regarding such information if it meets at least one of the following conditions:

was known before the Service provision;
legally obtained by third parties outside the context of Services;
publicly disclosed by User;
allowed to be distributed with the written consent of the User.

Personal information that you provide to The Company, including information provided in accordance with our Policies and any information about your use of the Website that The Company obtains, will be subject to our Privacy Policy. The Company respects the privacy of its clients, and The Company does not request any information that is unnecessary for the use of the Services or to comply with The Company’s obligations under applicable law.

The Company reserves the right to provide information to law enforcement personnel and other third parties to answer inquiries, participate in investigations, respond to legal process, respond to the order of a court of competent jurisdiction and those exercising the court’s authority, and to protect The Company, its directors, officers, employees, shareholders, clients, service providers and other concerned parties. The Company may be obliged to disclose Your personal information to law enforcement authorities, data protection authorities, financial regulators, financial service providers, governmental authorities and officials, and other authorized persons, as outlined in the Privacy Policy.

The User acknowledges and accepts that the User will comply willingly with all legal requests for information from The Company.

The User understands that by using the Services, the User consents to the collection, use, and disclosure of the User’s personally identifiable information and aggregate data and to the User’s personally identifiable information being collected, used, transferred to, and processed in jurisdictions where The Company carries on business. By agreeing to these Terms, the User expressly allows The Company to export data outside of the jurisdiction in which the User resides or is located when it accesses the Services. The User acknowledges that The Company may process personal data in relation to the User (if they are an individual), and personal data that the User has provided or in the future will provide to The Company in relation to its legal entity, employees, or other associates, in connection with these Terms or the Services. Accordingly, the User represents and warrants that:

User’s disclosure to The Company of any personal data relating to individuals other than themselves (if they are an individual) was or will be made in accordance with all applicable data protection and data privacy laws, and such data is accurate, up to date, and relevant when disclosed;
before providing any such personal data to The Company, the User has read and understood The Company’s Privacy Policy, which may be amended from time to time and is incorporated herein by reference and forms a part of these Terms, and has provided a copy to any individual whose personal data the User has provided to The Company;
and from time to time, if the Company amends the Privacy Policy, the User will promptly read it and provide a copy to any individual whose personal data the User has provided to the Company.

The Company cares about the integrity and security of Users’ personal information, and The Company takes a number of security measures, including storing all Users’ personal information in an encrypted fashion. However, the Company cannot guarantee that unauthorized third parties will not defeat the Company’s security measures or use the User’s personal information for improper purposes.

The User acknowledges that the User provides its personal information to The Company at its own risk. The User understands that The Company is not responsible or liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms, or other malware that may affect the User’s computer or other equipment, or any phishing, spoofing, or other attack from using the Services.

The User acknowledges that The Company advises the regular use of a reputable and readily available virus screening and prevention software. The User should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from The Company. The Company’s customer support will never seek to access the User’s computer or ask for the User’s password or its two-factor authentication codes. The User shall always log into the Account through the access details provided by The Company to review any transactions or required actions if the User has any uncertainty regarding the authenticity of any communication. The User is solely responsible for the activity that occurs in relation to the Account, and the User must keep the Account password secure. The Company recommends that the User use “strong” passwords (passwords that use a combination of upper- and lower-case letters, numbers, and symbols) with the Account. The User must notify The Company immediately of any breach of security or unauthorized use of the Account by emailing The Company at support@goldenratio.exchange. The Company will not be responsible or liable for any damages, liability, or losses caused by any unauthorized use of the Account.

15. Limitation of Liability. Disclaimer of Warranties

For non-performance or improper performance of their obligations under these Terms, the Company and you shall be liable in accordance with these Terms and the Applicable Law, unless otherwise provided herein.

The Website, Content, and Services are provided without any guarantees, conditions, or warranties as to their accuracy, quality, and fit for a particular purpose or need. The Company does not guarantee that the Website and Services are error-free, reliable, or will operate without interruption. The Website and Content are provided to you on an "AS-IS" basis.

User understands and agrees that The Company has no control over, and no duty to take any action regarding:

failures, disruptions, errors, or delays in processing Virtual Assets that you may experience while using the Services;
the risk of failure of hardware, software, and Internet connections;
the risk of malicious software being introduced or found in the software underlying The Company;
the risk that third parties may obtain unauthorized access to information stored within your Wallet, including, but not limited to, your Wallet address, private key, and mnemonic (backup) phrase; and
the risk of unknown vulnerabilities in or unanticipated changes to the Networks.

You release The Company from all liability related to any losses, damages, or claims arising from:

user error, such as forgotten passwords, incorrectly constructed transactions, or mistyped Virtual Assets addresses;
server failure or data loss;
unauthorized access to the Company application;
bugs or other errors in the Company software;
and any unauthorized third-party activities, including, but not limited to, the use of viruses, phishing, brute-forcing, or other means of attack against The Company.

The Company makes no representations concerning any third-party Content contained in or accessed through our Services. Any other terms, conditions, warranties, or representations associated with such content are solely between you and such organizations and/or individuals. The Company shall not be liable for the use or inability to use the Website and Services. In no event shall The Company, its officers, directors, employees, agents, or third-party service providers be liable to you or any other person or entity for any direct, indirect, incidental, special, punitive, or consequential damages whatsoever, including any that may result from:

the accuracy, completeness, or content of the Website,
the accuracy, completeness, or content of any websites linked (through hyperlinks, banner advertising, or otherwise) to the Website,
the Services found at the Website or any websites linked (through hyperlinks, banner advertising, or otherwise) to this Website,
personal injury or property damage of any nature whatsoever,
third-party conduct of any nature whatsoever,
any unauthorized access to or use of The Company's servers and/or any and all content, personal information, blockchain information, or other information and data stored therein,
any interruption or cessation of Services to or from the Website or any websites linked (through hyperlinks, banner advertising, or otherwise) to this site,
any viruses, worms, bugs, trojan horses, or the like, which may be transmitted to or from this site or any websites linked (through hyperlinks, banner advertising, or otherwise) to this Website,
any loss or damage of any kind incurred as a result of your use of the Website or the Services found at the Website, whether based on warranty, contract, tort, or any other legal or equitable theory, and whether or not The Company is advised of the possibility of such damages,
losing access and/or unauthorized access to your Account,
any errors or malfunctions caused by or otherwise related to any wallets used to deposit and withdraw Virtual Assets,
malfunctions, breakdowns, and abandonment of blockchain protocols,
changes in regulatory approaches or legal actions taken regarding the blockchain technology and Virtual Assets,
taxation and/or changes in the tax system regarding Virtual Assets,
advancements in cryptography, any technical advancements that may present risks to blockchain protocols,
unfavorable fluctuations of Virtual Assets,
errors in the provision of Services;
other risks associated with purchasing, holding, and using Virtual Assets, and using the Website and Services.

The Company shall not be liable for any events that may include, but are not limited to, civil, criminal, and administrative actions that may arise from you using blockchain and Virtual Assets if such use is forbidden or otherwise limited in your country.

The Company, its officers, directors, employees, and agents do not provide investment advice, financial advice, trading advice, legal advice, or any other sort of advice.

To the extent permitted by Applicable Law, you agree to defend, indemnify, and hold harmless The Company from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses arising from:

user error, such as forgotten passwords, incorrectly constructed transactions, or mistyped Virtual Assets addresses;
server failure or data loss;
unauthorized access to the Wallet;
bugs or other errors in the Website software;
and any unauthorized third-party activities, including, but not limited to, the use of viruses, phishing, brute forcing, or other means of attack against the Website.

It is the User’s responsibility to determine what, if any, taxes apply to the transactions that the User has submitted transaction details for via the Services, and it is the User’s responsibility to report and remit the correct tax to the appropriate tax authority. The Users agree that We are not responsible for determining whether taxes apply to the Users’ transactions or for collecting, reporting, withholding, or remitting any taxes arising from any Virtual Assets-related transactions. It is the User’s responsibility to determine partners (B2B) as legal and reliable. Before using any Service, each User is obliged to perform the KYC procedure with their partners.

16. Indemnification

To the extent permitted by applicable law, you agree to defend, indemnify, and hold harmless The Company, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including, but not limited to, attorney's fees, fines or penalties imposed by any regulatory authority) arising from:

your use of and access to the Services;
any feedback or submissions you provide to Us concerning The Company;
your violation of any term of these Terms;
or your violation of any law, rule, or regulation, or the rights of any third party.

17. Assignment

Users agree that We may assign any of the Company’s rights and/or transfer, sub-contract, or delegate any of our obligations under these Terms. Your agreement to these Terms is personal to you, and you may not transfer or assign it to any third party.

18. Force Majeure

The Company shall not be held liable for any delays, failure in performance, or interruptions of service which result directly or indirectly from any cause or condition beyond The Company’s reasonable control, including but not limited to: any delay or failure due to any act of God, act of civil or military authorities, act of terrorism, civil disturbance, war, strike or other labor dispute, fire, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe, or any other occurrence which is beyond our reasonable control and shall not affect the validity and enforceability of any remaining provisions.

19. Announcements

We may, from time to time, post official announcements, news, notices, etc. (the 'Announcements') on the Website. In no event shall The Company be liable for any losses arising from your neglecting or ignoring the Announcements.

20. Dispute Resolution

This User Agreement shall be governed by and construed and enforced in accordance with the Laws of Bulgaria, and shall be construed in all respects as a contract entered into under the laws of Bulgaria.

Should there be any disputes regarding matters stipulated herein, the Parties shall take all measures possible to resolve them by negotiation.

Should the Parties fail to reach an agreement by means of negotiations within 30 (thirty) calendar days, any dispute arising from the User Agreement or related hereto shall be referred to and finally resolved in accordance with the Laws of Bulgaria, exclusive of choice-of-law principles.

This decision shall be final and binding for both Parties, and may be used or produced for enforcement at any court having respective jurisdiction; an application concerning an enforcement order may be filed to such competent court if required.

21. Amendments to these Terms of Use

We have the right to unilaterally change these Terms of Use. The changes take effect immediately after the moment the new version of Terms of Use is published on the Website. If the User does not accept a new edition of the Terms of Use, they must stop using the Website and Services.

22. Final Provisions

These Terms of Use shall remain in force until terminated either by you or The Company. We may terminate these Terms of Use at any time at our discretion without explaining the reasons for this decision.

In the event these Terms of Use are available in multiple languages, the English version of the Terms shall prevail.

All provisions of these Terms of Use applicable to the Website shall apply to other means of providing Services, unless specifically stated otherwise.