Who We Are and How to Contact Us

https://www.coinotc.com is a site operated by CoinOTC LTD ("We", "CoinOTC").

We are registered in Bulgaria under company number 207350382 and have our registered office at 9 Tsarigradsko shose Blvd, 1124 Sredets region, Sofia, Bulgaria; Contact us [email protected].

Acceptance of Terms of Use

By using our site and/or our services, you confirm that you accept these terms of use and that you agree to comply with them. If you do not agree to these terms, you must not use our site or our services.

User Responsibility

By registering, you agree to provide us with true, correct, and updated information. Any change in this information is your responsibility and therefore we ask you to update it in case of any change and from time to time since it is through this information that we will try to contact you for any necessary circumstance.

If you choose, or you are provided with, a user identification ID (or similar), password or any other piece of information as part of our security procedures, you must treat such information as confidential. You must not disclose it to any third party. We have the right to disable any user identification ID (or similar) or password, whether chosen by you or allocated by us, at any time, if in our reasonable opinion you have failed to comply with any of the provisions of these terms of use.

We will not be responsible for any loss or damage that you may suffer as a result of access by unauthorized third parties to your account as a result of hacking or loss of passwords, or for not acting on time in the event of any alert or notification that we may send you.

Know Your Customer

The Know Your Customer process consists of you providing personal information, so CoinOTC verifies that the person who claims to be registering the website is indeed the person they claim to be and confirm the origin of the fund created by this person as well as its legitimacy.

Additionally, by registering, you authorize CoinOTC to, directly or through third parties, carry out inquiries, queries, cross databases, and any other action that we consider pertinent to verify your identity, as established in the Privacy Policy, and to comply with the provisions in force regarding the prevention of money laundering, financing of terrorism and bribery of public officials, and/or protecting ourselves against fraud

Anti-Money Launderin

It is absolutely prohibited for you to try to use CoinOTC or the services it provides for the purpose of cleaning money, hiding money, in any way attempting to obscure the source of funds, or attempting to circumvent financial regulations or restrictions.

If we suspect you have attempted to deceive in this way or engage in money laundering activities, terrorist financing or any fraud, We will cease to make any services available to you, and any associated individuals or entities we think may be involved or related. You and they will also be blacklisted from the use of CoinOTC's services.

In all circumstances, we will take a zero-tolerance approach to any illegal activity you are, or may become, involved in. We are fully committed to our responsibilities in this regard and reserve the right to report any activity we consider suspicious to the appropriate authorities, including the Police and/ or the Bulgaria Financial Crime Investigation Service (FCIS)

Explicit Fraud Prevention Measures

CoinOTC employs advanced fraud detection and prevention technologies to safeguard our users' accounts and transactions. Our systems are designed to detect and prevent unauthorized access and fraudulent activities. We encourage users to report any suspicious activities immediately.

Suspension and Termination of User Account

1. Monitoring and Compliance

In cases where inappropriate activity is suspected or detected in connection with your account, CoinOTC reserves the right to request additional information, including document verification, or temporarily freeze transactions for review. Your cooperation with these requests is mandatory. Failure to comply may result in the closure of your account.

2. Unauthorized Access and Misuse:

Engaging in unauthorized access or misuse of accounts other than your own will lead to immediate suspension or closure of all involved accounts, along with the cancellation of any pending transactions. As a user, you pledge not to utilize your CoinOTC account for any illegal or criminal activities, including but not limited to money laundering, financing of terrorism, financial terrorism, malicious hacking, violations of exchange or tax laws, etc.

3. Right to Reject or Cancel Accounts:

CoinOTC maintains the authority to refuse any registration request or cancel an existing account at any time, without the need to provide reasons for such decisions. This action does not entitle the affected user to any form of compensation.

4. Grounds for Account Suspension or Closure:

Accounts may be suspended or closed at CoinOTC's discretion for reasons including, but not limited to:

Violations of local, national, or international laws or regulations

Unlawful or fraudulent activitie

Engaging in or facilitating money laundering, terrorism financing, or other criminal activities.

Activities aimed at harming or exploiting minors

Transmitting harmful or malicious software or data

5. Closure Procedures and Financial Obligations:

The suspension or closure of an account does not exempt you from fulfilling any outstanding financial obligations. Upon account closure, you are required to provide a valid, personally owned bank account for the transfer of any owed funds. Should the restitution costs exceed the owed amount, no reimbursement will be processed.

6. Legal Compliance and Account Withdrawals

In certain situations, under applicable law or court order, CoinOTC may be compelled to restrict withdrawals from accounts.

7. Communication and Confidentiality:

In the event of account cancellation or suspension, CoinOTC will endeavor to notify you, barring any legal or regulatory constraints. Decisions related to account status are influenced by confidential criteria tied to CoinOTC's Compliance and Risk protocols. These criteria will not be disclosed, as they are integral to our security measures

Payment Methods

The only payment methods authorized are the following:

Bank Transfer must be made to the bank account indicated by CoinOTC and from a bank account owned by the user who makes the respective payment. Transfers from third-party bank accounts are not accepted, and not respecting this restriction will result in the total return of the funds, less the charges established by the CoinOTC's bank, to the same bank account from which the funds come.

Cash under no circumstances we will provide services or otherwise, buy and/or sell any crypto assets from you using cash as a method of payment.

Refunds

If you send us fiat money and for any reason are unable to verify your identity and/or provide a source of funds, the trade will be canceled and we will return the fiat to the bank account from which it was sent to us.

We cannot and will not under any circumstances refund any fiat or crypto assets to you once a trade has been completed. You understand refunds are not possible due to the 24/7 nature of the market conditions, mixing of fiat and crypto assets (and therefore the inability to identify specific transferred fiat funds or crypto assets) and potential volatility of swings which could lead to considerable, unrecoverable, losses for us.

Clarification on Data Usage and Protection

We are committed to protecting the privacy and security of our users' personal information. Our data handling practices are in compliance with applicable data protection regulations. Please refer to our Privacy Policy for detailed information on how we collect, use, protect, and store your personal data.

Taxes

It is your sole responsibility to determine and report your tax obligations and information from your use of our services to the appropriate tax authorities in a timely and full manner.

Additional Geographic Restriction for UK Residents

Exclusion of UK Residents:

Please note that CoinOTC services are not available to residents of the United Kingdom, in compliance with our regulatory and compliance frameworks.

Enforcement Using SumSub Technology:

To ensure adherence to this policy, we utilize SumSub technology for identity verification. This system is designed to identify and restrict service access by individuals residing in the UK.

Disclaimer for UK Users:

We hereby disclaim liability for any unauthorized use of our services by UK residents. Any attempt to circumvent our geo-blocking measures and access our services from within the UK will result in immediate suspension or termination of the user account.

Acknowledgment by Users:

By continuing to use our services, you affirm that you are not a resident of the United Kingdom and acknowledge the restrictions and consequences of attempting to access our services from the UK.

Risk Disclaimer

Cryptoassets are not backed or guaranteed by any government or financial institution.

When purchasing crypto assets from CoinOTC, you must satisfy yourself that you understand all the associated investment risks in light of the above, and generally. Before you decide to invest, do not invest in anything you cannot afford to lose.

You must acknowledge when buying and/or selling crypto assets from CoinOTC that 100% of your capital invested is at risk. We cannot, and do not make any guarantee about the future value of your crypto assets and we will not be held liable for any losses you incur. Equally, we will not request a benefit from any gains you might make.

Furthermore, we are not qualified or authorized to give any advice. We very strongly suggest you obtain financial advice from your professional advisor on any investments you make in crypto assets.

For the avoidance of doubt, CoinOTC is a brokerage offering an ‘execution only’ service at this time. It is solely your responsibility to store any crypto assets received in a safe manner. This includes but is not limited to providing CoinOTC with the correct and appropriate wallet address to receive crypto assets purchased through CoinOTC. through CoinOTC.

All crypto assets transactions are immutable. This means that they cannot be reversed should you lose access to your crypto assets wallet. If you decide to store or invest your crypto assets with a third-party you should do your own due-diligence on that third party before sending your crypto assets to them. CoinOTC will not be held responsible for loss incurred as a result of the acts or omissions of third parties.

You should be particularly cautious with any third parties that promise guaranteed or unrealistic returns.

Updates to Terms and Conditions

Our Terms and Conditions may be updated periodically to reflect changes in our services, regulatory environment, or for other operational reasons. We will notify our users of significant changes through our website or via email.

Intellectual property

The Service may be used only for the purposes permitted by these terms and conditions. You may not duplicate, publish, modify the contents of this Service website without Service permission. The User admits that the contents of this Service website is copyright-protected. The illegal use of the contents will face prosecution.