Last Updated: 01.10.2024
These Terms and Conditions (“Terms”) constitute a binding agreement between you and Asortio SP. Z O. O., a private limited company incorporated in Poland under registration number 0001042571, with its registered office at UL. PIOTRKOWSKA 116 / 52, 90-006 ŁÓDŹ, Poland. In these Terms, “ASORTIO,” “we,” “our,” or “us” refer to Asortio SP. Z O. O., and “you” or “your” refers to the individual or legal entity that engages with our services.
These Terms apply to all visitors, users, and others who access or utilize the virtual currency exchange services (“Services”) provided by ASORTIO. By creating an account on Asortio.com or any associated websites, APIs, or mobile applications (collectively, the "ASORTIO website"), you agree that you have read, understood, and accepted these Terms, along with our Privacy Policy, KYC/AML Policy, and Refund Policy.
1. Eligibility
1.1. To utilize our virtual currency exchange services, you must be at least 18 years of age. By accepting these Terms, you confirm that you:
(i) Are of legal age to enter into a binding contract (at least 18 years old);
(ii) Have not been previously suspended or removed from utilizing our Services;
(iii) Are not identified as a “Specially Designated National” by the Office of Foreign Assets Control;
(iv) Are not listed on the U.S. Commerce Department’s Denied Persons List;
(v) Have full power and authority to agree to these Terms.
If you are representing a legal entity, you warrant that you possess all necessary rights and authority to act on behalf of that entity.
1.2. You are prohibited from using our virtual currency exchange services if you are located in, or a citizen or resident of, any state, country, territory, or jurisdiction that is embargoed by the United States or where your use of the Services would be illegal. You affirm that you are not a citizen or resident of any such jurisdiction and will not access the Services from those locations. Our discretion allows us to restrict access to the Services from any prohibited jurisdiction.
Currently, we do not provide services to the following countries and regions (this list may change): Albania, Algeria, Barbados, Bahamas, Benin, Bolivia, Botswana, Burkina Faso, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, China, Crimea, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Ghana, Iran, Iraq, Afghanistan, Japan, Jamaica, Kenya, Kuwait, Lebanon, Libya, Mali, Mauritius, Mongolia, Mozambique, Myanmar, Nepal, Nicaragua, Pakistan, Panama, Rwanda, Senegal, Somalia, South Sudan, Palestine, Sudan, Syria, Tanzania, Togo, Uganda, Venezuela, Yemen, Zimbabwe, Pridnestrovian Moldavian Republic, Donetsk Oblast (Ukraine), and Luhansk Oblast (Ukraine), among others.
2. Account Registration and Verification
2.1. To access our Services, you must register for an ASORTIO account (“Account”) by providing your first name, last name, e-mail address, address, password, and accepting the terms contained in these Terms and our KYC/AML Policy. ASORTIO reserves the right to refuse the opening of an Account at our discretion. Each user is permitted to open only one Account and is strictly prohibited from opening an Account in the name of a third party.
2.2. You agree to provide accurate information for identity verification and the detection of money laundering, fraud, or other financial crimes. You are required to complete certain verification procedures before utilizing the Services. The information requested may include your first name, last name, address, telephone number, email address, date of birth, taxpayer identification number, government identification number, and bank account information. By providing this information, you confirm its accuracy and agree to keep it updated. ASORTIO reserves the right to conduct necessary inquiries to verify your identity and protect against fraud or other financial crimes. This may involve disclosing your personal information to credit reference and fraud prevention agencies, with no negative impact on your credit rating.
2.3. You must have the necessary equipment (computer, smartphone, tablet) and telecommunication subscriptions to access the Internet to utilize our Services, which can be accessed directly through the ASORTIO website.
3. Order execution process
3.1. Our Services allow you to purchase Virtual Currency using central bank-issued currency (“Fiat Currency”) supported by ASORTIO (“Purchase Transaction”) and to sell Virtual Currency in exchange for Fiat Currency (“Sell Transaction”). We do not facilitate exchanges of one Virtual Currency for another.
3.2. Each Exchange Transaction is subject to the current Exchange Rate, defined as the price of a specific Virtual Currency in Fiat Currency as quoted on the ASORTIO website. Exchange Rates are quoted as a “Buy Price” (price at which you can buy Virtual Currency) or a “Sell Price” (price at which you can sell Virtual Currency).
3.3. For a Purchase Transaction, you must provide your virtual wallet address for the selected Virtual Currency. For a Sell Transaction, you must supply payment method details for the selected Fiat Currency. You are responsible for verifying all submitted information, as Virtual Currency transactions cannot be reversed once broadcasted to the network.
3.4. To execute a Purchase Transaction, you authorize us to debit your payment method (e.g., debit or credit card). Upon receiving confirmation of the funds, we will transfer the Virtual Currency to the provided wallet address.
3.5. For a Sell Transaction, you must transfer the requested amount of Virtual Currency to our wallet. We will provide you with our wallet address upon accepting the Exchange Transaction terms. You authorize us to send instructions to credit your payment method as settlement for the Sell Transaction, which will occur once the Virtual Currency is transferred to our wallet.
4. Security
4.1. You are responsible for maintaining the confidentiality of your Account and security details. Notify us immediately of any unauthorized use of your Account or any breach of security, as we are not liable for losses arising from your failure to do so.
4.2. Keep your password secure and confidential; do not disclose it to third parties. You are accountable for any activity occurring under your Account.
5. Limitation of Liability
5.1. To the maximum extent permitted by applicable law, we shall not be liable for any loss or damage incurred as a result of using or being unable to use our Services, including direct, indirect, incidental, special, consequential, or punitive damages, even if we have been informed of the possibility of such damages. This includes loss of profits, goodwill, use, data, or other intangible losses.
5.2. In no circumstance shall our liability to you exceed the amount you paid for using our Services.
6. Suspension, Termination, and Cancellation
6.1. We reserve the right to refuse, block, cancel, or reverse any Exchange Transaction you have authorized without notice. If we refuse a transaction, we will, unless unlawful, inform you of our decision and the reasons for it. Insufficient funds in your payment method may also result in refusal to complete the Exchange Transaction.
6.2. We may suspend, restrict, or terminate your access to the Services and/or deactivate your Account without reason, providing notice of our actions. Our decision may be based on confidential criteria essential to our risk management and security protocols. We are under no obligation to disclose the details of these procedures.
7. Virtual Currency Exchange Terms
7.1. ASORTIO provides a platform for users to purchase, sell, and exchange Virtual Currencies using Fiat Currency. All trades conducted on the platform are subject to the terms outlined in these Terms and Conditions and any additional rules or instructions provided on the ASORTIO website.
7.2. The value of Virtual Currencies can be highly volatile and may experience significant fluctuations over short periods. ASORTIO cannot guarantee that the prices displayed on the platform will always be accurate or reflect the most recent market conditions. You agree that ASORTIO will not be held responsible for any losses resulting from price volatility or market conditions that occur after a trade has been confirmed.
7.3. The Exchange Rate for each Virtual Currency is determined by market supply and demand and is displayed on the ASORTIO website at the time of the transaction. ASORTIO reserves the right to update exchange rates at any time without prior notice. By executing a trade, you acknowledge that the final exchange rate may differ from the rate at the time of the order submission due to market fluctuations.
7.4. Once an order is confirmed and executed, it cannot be canceled or reversed. You are responsible for verifying all trade details before submission. If a transaction is initiated by mistake, ASORTIO will not be able to reverse it once confirmed on the blockchain.
7.5. Due to the decentralized nature of blockchain technology and the associated networks, the execution time for transactions may vary. Delays may occur due to network congestion, blockchain confirmations, or technical issues. ASORTIO does not guarantee the immediate execution of any trade or transaction and is not liable for any delays or associated losses.
7.6. ASORTIO reserves the right to temporarily or permanently suspend exchange for specific Virtual Currencies due to technical, regulatory, or other issues. In the event of a suspension, ASORTIO will notify users through the platform and provide instructions on how to proceed with any impacted transactions.
7.7. By accepting the terms of the Exchange Transaction, you authorize ASORTIO to initiate the transaction at the quoted price and execute or cancel it if the Exchange Rate changes.
8. Tax Compliance
8.1. You are responsible for determining and complying with any tax obligations that may arise from your use of our Services. Consult with a tax advisor regarding the taxation of Virtual Currency transactions in your jurisdiction.
9. Intellectual Property Rights
9.1. All content on the ASORTIO website, including text, graphics, logos, and software, is owned by ASORTIO and protected by intellectual property laws. You may not use any content, including logos, without our express written consent.
10. Force Majeure
10.1. We will not be liable for any failure to perform our obligations under these Terms due to circumstances beyond our reasonable control, including but not limited to natural disasters, acts of government, war, or technical failures.
11. Miscellaneous Provisions
11.1. These Terms constitute the entire agreement between you and ASORTIO regarding your use of the Services and supersede all prior agreements or understandings.
11.2. If any provision of these Terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
11.3. Our failure to enforce any right or provision in these Terms will not constitute a waiver of such right or provision.
12. Deposits, Withdrawals, and Transfers
12.1. You may deposit both Virtual Currency and fiat currency into your ASORTIO account, subject to the payment methods and currencies we support. Deposits of fiat currency can only be made through approved channels, such as bank transfers, in accordance with our provided instructions. Deposits of Virtual Currency must be sent to the unique wallet address provided for your account. ASORTIO is not responsible for any deposits sent to incorrect or invalid addresses.
12.2. Withdrawals of fiat currency will be processed to the payment method linked to your account or another method that has been verified and approved. Virtual Currency withdrawals must be made to a valid wallet address provided by you, and you are solely responsible for ensuring the accuracy of this information. Withdrawals may be subject to limits, processing times, and fees as outlined on the ASORTIO platform. Processing times for withdrawals may vary depending on payment method, blockchain congestion, or KYC/AML checks.
12.3. We may set minimum and maximum limits for deposits, withdrawals, and transfers on the platform. It is your responsibility to be aware of these limits, which may change based on factors such as user verification status or regulatory requirements.
12.4. ASORTIO reserves the right to delay or restrict deposits, withdrawals, or transfers to comply with our KYC/AML obligations, address suspicious activity, or in response to legal or regulatory requirements. We will endeavor to notify you of any such delays or restrictions unless prohibited by law.
12.5. Blockchain network congestion, technical issues, or third-party delays may affect the timeliness of Virtual Currency deposits and withdrawals. ASORTIO is not liable for delays caused by the underlying blockchain networks or other external factors beyond our control.
13. Fees and Payment Methods
13.1. ASORTIO charges a fee for certain transactions on the platform, such as buying, selling, and withdrawing Virtual Currency. The fees related to buying of Virtual currency are as follows:
SEPA
Processing fee: 0%
Service fee: 5%
Network fee: 0.0002 BTC / 0.005 ETH / 5 USDT
SKRILL
Processing fee: 4.5%
Service fee: 4.5% EUR
Network fee: 0.0002 BTC / 0.005 ETH / 5 USDT
NETTELER
Processing fee: 4.5%
Service fee: 4.5% EUR
Network fee: 0.0002 BTC / 0.005 ETH / 5 USDT
13.2. You may be required to link a payment method (e.g., credit card, bank account, etc.) to your ASORTIO Account. ASORTIO reserves the right to set acceptable forms of payment. Any payment made through third-party payment processors is subject to their respective terms and conditions, and ASORTIO is not responsible for their services.
13.3. We reserve the right to set limits on the amount of Virtual Currency or fiat currency that can be bought or sold on the ASORTIO platform. The minimum limit for a single transaction is 10 EUR, while the maximum limit is 9000 EUR. It is your responsibility to stay informed of and adhere to these limits.
13.4. If a transaction fails due to insufficient funds, incorrect account details, or any other reason, you are responsible for ensuring that the transaction is completed and any fees associated with the failed transaction are paid.
14. Privacy and Data Protection
14.1. ASORTIO collects, processes, and stores your personal information in accordance with our Privacy Policy. By using our Services, you agree to the collection and processing of personal data necessary to facilitate the provision of our Services, including but not limited to verification of identity, compliance with anti-money laundering regulations, and transaction processing.
14.2. We implement reasonable security measures to protect your personal data from unauthorized access, disclosure, or destruction. However, we cannot guarantee that your data will be immune from breaches. By using our Services, you accept the risk of such breaches.
14.3. ASORTIO may share your personal data with third parties, including but not limited to financial institutions, regulatory bodies, or fraud prevention agencies, in order to comply with legal obligations or to provide the Services.
14.4. Your personal data will be retained as long as necessary to fulfill the purposes for which it was collected, comply with legal obligations, and resolve disputes. You may request the deletion of your personal data by contacting us, but we reserve the right to retain data as necessary to comply with legal requirements.
15. Prohibited Activities
15.1. You agree not to use ASORTIO’s Services for any illegal or unlawful purpose, including but not limited to fraud, money laundering, terrorist financing, or any activity that violates international sanctions or laws in your jurisdiction.
15.2. You must not engage in any activity that disrupts or manipulates the fair operation of the Virtual Currency market, including practices such as price manipulation, wash trading, or spoofing. Violations may result in suspension or termination of your Account.
15.3. You are prohibited from allowing any third party to use your Account to engage in any activity on the ASORTIO platform. All actions taken under your Account are your responsibility.
15.4. You may not use the ASORTIO platform to send unsolicited messages, advertising, or marketing communications (spam) to other users.
16. Amendments to the Terms
16.1. ASORTIO reserves the right to amend or modify these Terms at any time. If significant changes are made, we will provide notice on the ASORTIO website or via email. Your continued use of the Services following the effective date of the changes constitutes your acceptance of the revised Terms.
16.2. Amendments or modifications will take effect on the date they are posted on the ASORTIO wibsite unless otherwise specified.
16.3. If you do not agree to the amended Terms, you must cease using the Services and close your ASORTIO Account.
17. Electronic Communications
17.1. By using the ASORTIO platform, you consent to receive all communications, agreements, and disclosures electronically. You agree that electronic communications satisfy any legal requirement that such communications be in writing.
17.2. We may communicate with you via email, notifications on the ASORTIO website, or through other electronic means. It is your responsibility to maintain an updated email address and regularly check your inbox for communications from us.
17.3. You may withdraw your consent to receive communications electronically by contacting customer support. If you withdraw your consent, we reserve the right to terminate your Account and access to the Services.
18. Governing Law and Jurisdiction
18.1. These Terms shall be governed by and construed in accordance with the laws of Poland, without regard to its conflict of laws provisions.
18.2. Any dispute arising out of or in connection with these Terms, including disputes related to their existence, validity, or termination, shall be settled through negotiation in good faith between the parties. If no resolution is reached, the dispute shall be submitted to the exclusive jurisdiction of the courts of Łódź, Poland.
18.3. You agree that any dispute resolution proceedings will be conducted only on an individual basis and not as part of a class, collective, or representative action.
19. Risk Disclosure
19.1. Cryptocurrency trading is subject to significant market risk and volatility. The prices of Virtual Currencies can fluctuate widely and unpredictably over short periods, potentially resulting in substantial losses. You acknowledge and agree that you fully understand the risks involved in trading, holding, and using Virtual Currencies. The value of Virtual Currencies may decrease, and you may lose all or part of your investment. ASORTIO does not guarantee any profits or the absence of losses from using our Services.
19.2. Cryptocurrencies and Virtual Currencies operate in a rapidly changing regulatory environment. Regulatory actions or changes in laws and regulations, such as those involving taxation, anti-money laundering, or securities regulations, could negatively impact the value, use, or legality of certain Virtual Currencies. You are responsible for staying informed of any regulatory developments that may affect your trading activities or the value of your assets.
19.3. The technology underlying Virtual Currencies, such as blockchain and cryptographic protocols, is still developing and may be subject to unforeseen technical risks. These may include software bugs, network failures, cyber-attacks, mining attacks (such as double-spending or 51% attacks), or other disruptions that could compromise the integrity, security, or availability of the Virtual Currency. ASORTIO does not control these technological systems and cannot be held responsible for losses resulting from such technological failures.
19.4. Some Virtual Currencies may have limited liquidity, making it difficult or impossible to sell or convert your assets into fiat currency or other Virtual Currencies. Illiquidity can cause you to experience significant delays or losses when attempting to liquidate your positions. ASORTIO cannot guarantee that there will always be an active market for every Virtual Currency traded on the platform.
19.5. There may be risks associated with the operation of the ASORTIO platform, including but not limited to system outages, server downtime, or errors in our software or third-party services. ASORTIO strives to maintain a secure and operationally efficient platform, but we cannot guarantee uninterrupted access to our Services. You accept that operational disruptions may occur and may impact your ability to execute trades or access your assets.
19.6. Cryptocurrency exchanges, wallet services, and users are frequently targeted by cybercriminals. Although ASORTIO implements industry-standard security measures, no system is immune to hacking, phishing attacks, or unauthorized access. You acknowledge the risks of managing Virtual Currencies online and understand that you are responsible for protecting your private keys, passwords, and other security credentials.
19.7. Transactions involving Virtual Currencies are generally irreversible once they have been confirmed on the blockchain. This means that if you send funds to the wrong address or make other errors, you may not be able to recover your assets. You are solely responsible for verifying all transaction details before proceeding.
19.8. Virtual Currency transactions may be subject to taxation in your jurisdiction. You are responsible for understanding your tax obligations and ensuring that you comply with any reporting and payment requirements. ASORTIO does not provide tax advice, and you should seek professional tax advice to understand the tax implications of your Virtual Currency activities.
19.9. The value of Virtual Currencies is highly speculative and is determined by the market, supply, and demand, as well as other external factors. Past performance of a Virtual Currency is not an indicator of future performance. ASORTIO does not provide investment advice, and you should carefully consider whether Virtual Currency exchange is suitable for your financial situation and risk tolerance.
19.10. The legal status of Virtual Currencies may vary from jurisdiction to jurisdiction. You are responsible for ensuring that your use of ASORTIO’s Services complies with applicable local laws, including regulations related to cryptocurrencies. ASORTIO disclaims any responsibility for your compliance with local legal requirements.
19.11. By using ASORTIO's Services, you acknowledge and accept that Virtual Currency exchange involves a high level of risk. You assume full responsibility for any losses incurred as a result of using the platform and agree that ASORTIO will not be held liable for such losses.
20. Indemnification
20.1. You agree to indemnify, defend, and hold harmless ASORTIO, its affiliates, directors, officers, employees, agents, and contractors from and against any and all claims, liabilities, damages, losses, costs, or expenses (including reasonable legal fees) arising out of or related to:
(i) your use of the ASORTIO platform or Services,
(ii) your violation of these Terms,
(iii) your violation of any applicable laws, regulations, or third-party rights,
(iv) any content or data you upload or transmit through the ASORTIO platform,
(v) any fraudulent, negligent, or wrongful conduct by you or any other person accessing your account.
20.2. ASORTIO will promptly notify you of any claim for which indemnification is sought, but failure to do so will not relieve you of your obligation to indemnify except to the extent that such failure materially prejudices your ability to defend the claim. You will have control over the defense and settlement of any claim, provided that ASORTIO may participate in the defense with its own counsel at its own expense and any settlement must receive prior written approval from ASORTIO.
20.3. Your indemnification obligations under this section will survive any termination of your account, these Terms, or your use of the Services.
21. Contact information
For any questions, concerns, or requests regarding these Terms, our Services, or your account, please reach out to us using the following contact details:
Email: [email protected]
Phone: +48422202747
Address: UL. PIOTRKOWSKA 116 / 52
90-006 ŁÓDŹ, Poland