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Pre-sale Terms

Please read these terms of use (the Terms) carefully. By accessing the Gatecoin Platform or using the Services (including by clicking "I AGREE"), you agree to be legally bound by these Terms and all terms incorporated by reference.

  1. SUMMARY OF KEY TERMS
    1. The Gatecoin Platform is an online Blockchain Assets trading platform and exchange provided by and proprietary to Gatecoin.
    2. By visiting, accessing or using the Gatecoin Platform, you confirm, represent and warrant that:
      1. you (as the User) are at least 18 years old;
      2. you have the legal capacity to accept these Terms and to agree to be bound by the Terms in their entirety;
      3. you have provided Gatecoin with accurate, true and complete information about yourself as a "User";
      4. that all funds exchanged or to be exchanged by you in the future using the Gatecoin Platform are not and will not be the direct or indirect proceeds of any criminal or fraudulent activity;
      5. you are not located in, or resident of, any jurisdiction where the provision or use of the Gatecoin Platform would be contrary to applicable laws, rules or regulations of any Regulatory Body or where Gatecoin is not authorised to provide such a platform and/or the Services;
      6. you have not previously been suspended or removed from the Gatecoin Platform; and
      7. you have read, understood and agree to our AML Policy, Privacy Policy, Fee Schedule and Transfer Costs Schedule (all of which are expressly incorporated into these Terms).
    3. Trading Blockchain Assets carries a high level of risk, and may not be suitable for you. You should be aware that you may sustain a total loss of the funds in your User Account. When accessing or using the Gatecoin Platform, please consider the trading risks detailed in section 4 below. You acknowledge that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these trading risks for you, and that Gatecoin (and the Gatecoin Group) does not give advice (legal, tax, investment or other) or recommendations regarding Blockchain Assets including the suitability and appropriateness of, and investment strategies for, Blockchain Assets. You acknowledge and agree that you shall access and use the Gatecoin Platform at your own risk. Seek advice from an independent financial adviser and/or legal adviser if you have any concerns
    4. The information and Services provided on the Gatecoin Platform are not provided to, and may not be used by, any individual, corporate or institution in any jurisdiction where the provision or use thereof would be contrary to applicable laws, rules or regulations of any Regulatory Body or where Gatecoin is not authorised to provide such information or Services. It is the User's responsibility to ensure he/she is compliant with applicable laws, rules or regulations and Gatecoin (and the Gatecoin Group) cannot be held responsible for any failure on the part of the User.
    5. Gatecoin reserves the right to change the Terms at any time. Any material changes to these Terms will be notified to the Users.
    6. You agree to pay all fees associated with or incurred by you, by your User Account, the Orders you enter into, and the Services you receive (please see section 14 of these Terms).
    7. By using the Gatecoin Platform you acknowledge and agree that (a) Gatecoin (and the Gatecoin Group) is not acting as your broker, intermediary, agent or adviser or in any fiduciary capacity and (ii) no communication or information provided to you by Gatecoin (or the Gatecoin Group) shall be considered on construed as advice.
  2. INTERPRETATION
    1. Unless otherwise defined herein or the context otherwise requires, defined terms used in these Terms, shall have the following means:
      1. Airdrop: the allocation of a certain amount of the same or newly created Blockchain Asset(s) to the holders of existing Blockchain Assets.
      2. AML Policy: Gatecoin's Anti-Money Laundering and Counter-Terrorist Financing Policy. The AML Policy can be found here.
      3. Blockchain Asset Account: ta User's blockchain asset account containing the User's Blockchain Assets held by Gatecoin pursuant to the Services.
      4. Blockchain Assets: means bitcoin, ether, and other distributed ledger technology, or mathematicallybased or cryptographic protocols that are network-based and are a medium of exchange that (i) may be centralised or decentralised (but not issued by a sovereign or government entity), (ii) allow for borderless transfer-of-ownership, and (iii) may be used to buy goods and services.
      5. Business Day: a day (other than a Saturday or Sunday or public holiday in Hong Kong and any day on which a tropical cyclone warning no.8 or above or a "black" rain warning signal is hoisted in Hong Kong at any time between 9.00am and 5.00pm) on which banks are open in Hong Kong for general commercial business.
      6. Exchange Ledger: has the meaning set out in as defined in section 10.1
      7. Fee Schedule: Gatecoin's current fee schedule, which can be found here.
      8. Fiat Account: a User's fiat account containing Fiat Currency held by Gatecoin pursuant to the Services
      9. Fiat Currency: any currency declared by a government or a government agency to be legal tender.
      10. Gatecoin: Gatecoin Limited (Hong Kong company number 1942216).
      11. Gatecoin Group: Gatecoin Limited (Hong Kong company number 1942216), Gate Digital Services Limited (Hong Kong company number 1931411), GTCWW Limited (Hong Kong company number 2520608), Elegant Gate Limited (Hong Kong company number 2130869) and their respective Holding Companies, Subsidiaries and affiliates from time to time.
      12. Gatecoin IP: all Intellectual Property owned, used, or held for use, by Gatecoin in, or in connection with the Services, the Gatecoin Platform and its business.
      13. Gatecoin Platform: the platform hosted by Gatecoin for the provision of the Services located at https://gatecoin.com/.
      14. Gatecoin Representative(s): Gatecoin's directors, officers, managers, employees, consultants and agents from to time to time.
      15. Holding Companies: a holding company as defined in Section 2 of the Companies Ordinance (Chapter 32, Laws of Hong Kong), save that any reference to a body corporate in such section 2 shall be deemed to include a reference to body corporates incorporated or established outside of Hong Kong, or under any other statutory provision.
      16. Hong Kong: the Hong Kong Special Administrative Region of the People's Republic of China.
      17. Intellectual Property: patents, trademarks, designs rights, trade and business names, internet domain names, logos, copyrights (including rights in computer software), goodwill, the right to use and protect confidential information and know-how, database rights, and other intellectual property rights in each case whether registered or unregistered (including all rights to apply for and be granted renewals, extensions and rights to claim priority from, such rights and any similar forms of protection) in force anywhere in the world.
      18. Limit Order(s): has the meaning set out in as defined in section 10.2.1.
      19. Loss: includes, in respect of any matter, event or circumstance, all direct and/or indirect, demands, claims (including compensation claims), actions, proceedings, awards, judgments, settlements, damages, payments, interest, fines, penalties, losses, loss of profit, loss of business revenue, costs (including legal expenses), expenses (including tax), disbursements and other liabilities in any case of any nature whatsoever whether in contract, tort or otherwise.
      20. Order(s): any order made by a User through the Gatecoin Platform pursuant to the Services.
      21. Order Receipt(s): a receipt sent by Gatecoin to the User relating to an Order.
      22. OTC Trade: has the meaning set out in as defined in section 11.1.
      23. Pre-sale(s): a method that distributes pre-sale token(s) in respect of a particular project in exchange for a contribution from a User.
      24. Pre-Sale Terms of Use: Gatecoin's Token Pre-sale Terms of Use. The Token Pre-sale Terms of Use are expressly incorporated into these Terms.
      25. Privacy Policy: Gatecoin's Privacy Policy, which can be found here .
      26. Regulatory Body: any relevant government, quasi-government, agency, tax authority or other regulatory body and/or law enforcement agency (excluding, for the avoidance of doubt, the rules of any securities exchange).
      27. Service or Services: the provision of an online Blockchain Asset trading platform and exchange through the Gatecoin Platform provided by and proprietary to Gatecoin.
      28. Subsidiaries: a subsidiary as defined in Section 2 of the Companies Ordinance (Chapter 32, Laws of Hong Kong), save that any reference to a body corporate in such section 2 shall be deemed to include a reference to body corporates incorporated or established outside of Hong Kong, or under any other statutory provision.
      29. System Failure: a failure of any computer hardware or software used by Gatecoin or any telecommunications lines or devices used by Gatecoin.
      30. Transfer Costs Schedule: Gatecoin's current transfer cost schedule, which can be found here.
      31. User or Users: a "Not Verified (Tier 0) User", "Verified (Tier 1) User", a "Certified (Tier 2) User" or a "Corporate User" (please see the verification schedule for further details of the different types of user and the associated know-your-client requirements).
      32. User Account: the verified and registered account of a User.
      33. User Bank Account: has the meaning set out in as defined in section 15.1.1.
      34. User Statement: has the meaning set out in as defined in section 16.1.
    2. Working Hours: 9.30am to 5.30pm on a Business Day in the place of receipt of a notice.
    3. "We, us and our" refers to Gatecoin; "you and your" refers to you as the User.
    4. Any words following the terms including, include, in particular, for example or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition, phrase or term preceding those terms.
  3. GENERAL TERMS OF SERVICE
    1. In order to use the Gatecoin Platform you must first become a User by successfully providing the required identification information pursuant to our AML Policy. The AML Policy is expressly incorporated into these Terms. These standards are designed to prevent the use of the Gatecoin Platform to aid money laundering or terrorist financing activities. We take compliance very seriously and it is our policy to take all necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and related acts that facilitates money laundering, terrorist financing or any other financial crimes.
    2. By visiting, accessing or using the Gatecoin Platform, you confirm, represent and warrant to Gatecoin that:
      1. you (as the User) are at least 18 years old;
      2. you have the legal capacity to accept these Terms and to agree to be bound by the Terms in their entirety;
      3. you have provided Gatecoin with accurate, true and complete information about yourself as a "User";
      4. all funds exchanged or to be exchanged by you in the future using the Gatecoin Platform are not and will not be the direct or indirect proceeds of any criminal or fraudulent activity;
      5. you are not located in, or resident of, any jurisdiction where the provision or use of the Gatecoin Platform would be contrary to applicable laws, rules or regulations of any governmental authority or regulatory organisation or where Gatecoin is not authorised to provide such a platform and/or the Services;
      6. you have not previously been suspended or removed from using the Gatecoin Platform;
      7. you have read, understood and agree to our AML Policy, Privacy Policy, Fee Schedule and Transfer Costs Schedule (all of which are expressly incorporated into these Terms).
      8. you (as the User) are at least 18 years old;
    3. Gatecoin reserves the right to change these Terms at any time. Any material changes to these Terms will be notified to the Users.
    4. Gatecoin does not provide or issue to its Users any Blockchain Assets. All Blockchain Assets exchanged or traded by and between the Users originate from the Users themselves.
    5. By using the Gatecoin Platform you acknowledge and agree that (a) Gatecoin (and the Gatecoin Group) is not acting as your broker, intermediary, agent or adviser or in any fiduciary capacity and (ii) no communication or information provided to you by Gatecoin (or the Gatecoin Group) shall be considered on construed as advice.
  4. RISK DISCLOSURE
    1. Trading Blockchain Assets carries a high level of risk, and may not be suitable for you. You should be aware that you may sustain a total loss of the funds in your User Account. When accessing or using the Gatecoin Platform, you should consider all risks in relation to the trading of Blockchain Assets including the following risks (on a non-exhaustive basis):
      1. the risk of loss in trading Blockchain Assets may be substantial and losses may occur over a short period of time;
      2. the price and liquidity of Blockchain Assets has been subject to large fluctuations in the past and may be subject to large fluctuations in the future;
      3. legislative and regulatory changes or actions in your local jurisdiction or at the international level may adversely affect the use, transfer, exchange and value of Blockchain Assets;
      4. in your jurisdiction, Gatecoin may not be regulated as a financial institution, deposits in your Blockchain Asset Account and your Fiat Account may not be considered deposits under the laws, rules or regulations applicable in your jurisdiction. As at the date of these Terms the Blockchain Assets market is largely unregulated with no (or little) participant protection; however this market is likely to be subject to increasing regulation in the future and Users should understand the risks associated with this;
      5. Blockchain Assets are not legal tender, are not backed by any government, and Blockchain Asset Account(s) and value balances are not subject to deposit insurance and investor protections;
      6. transactions in Blockchain Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable and some Blockchain Asset transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that you initiate the transaction;
      7. the value of Blockchain Assets may be derived from the continued willingness of market participants to exchange Fiat Currency for Blockchain Assets, which may result in the potential for permanent and total loss of value of a particular Blockchain Asset should the market for that Blockchain Asset disappear;
      8. the nature of Blockchain Assets may lead to an increased risk of fraud or cyber-attack, and may mean that technological difficulties experienced by Gatecoin may prevent the access to or use of your Blockchain Assets;
      9. any bond or trust account maintained by Gatecoin for the benefit of its Users may not be sufficient to cover all losses due to theft or fraud incurred by Users;
      10. the placing of certain Orders (e.g. "stop loss" or "stop limits" orders) that are intended to limit losses to certain amounts may not always be effected because market conditions or technological limitations may make it impossible to execute such orders;
      11. the prices quoted on the Gatecoin Platform may not necessarily reflect the broader market;
      12. the use of electronic trading systems and communication networks to facilitate trades exposes you to risks associated with the system including the failure of hardware and software system or network down timed access or connection failures. You acknowledge and confirm that Gatecoin (and the Gatecoin Group) will not be responsible for any services disruptions, errors or delays that you may experience while using its Services.
      13. if you are located in Hong Kong, please take note of the Hong Kong Government risk warning on virtual commodities.
    2. You acknowledge and agree to access and use the Gatecoin Platform at your own risk. The points noted above apply to all trading available on the Gatecoin Platform. However, this brief statement does not disclose all of the risks associated with trading Blockchain Assets. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. Please carefully consider your investment objectives, level of experience, and risk appetite before using any of our Services. Seek advice from an independent financial advisor if you have any doubts.
  5. PRE-SALE TOKENS
    1. At its sole discretion, Gatecoin may allow a Verified (Tier 1) User to participate in a Pre-Sale through the Gatecoin Platform. Please see our Pre-Sale Terms of Use.
  6. USERS
    1. Only Users can buy and sell Blockchain Assets in exchange for Fiat Currency or other Blockchain Assets on the Gatecoin Platform. You must not provide access to your User Account to any other party unless expressly agreed to in writing by a Gatecoin Representative. Such consent, if forthcoming, shall be subject to any conditions (including compliance with the AML Policy) as decided by Gatecoin from time to time.
    2. You hereby authorise Gatecoin and, directly or through its third party service providers, to take any measures that it considers necessary to verify your identity, confirm the information you submit about your linked bank account, and to take any action Gatecoin (or the Gatecoin Group) deem necessary based on the results.
  7. REGULATORY COMPLIANCE AND VERIFICATION
    1. Compliance
      1. In the event that your User Account (or any other account register to or associated with you or your User Account) is suspected of being in breach of any of the provisions of the AML Policy (or any requirements of law or regulation in Hong Kong or another jurisdiction), you agree that we have the right to suspend your User Account and your access to the Gatecoin Platform until a thorough investigation in partnership with any relevant Regulatory Body has taken place.
      2. Should your User Account (or any other account registered to or associated with you or your User Account) be proven to be in breach of any such provisions (or any requirements of law or regulation in Hong Kong or another jurisdiction), you agree that we have the right to close your User Account, restrict your access to the Gatecoin Platform and you agree to forfeit any and all funds in your Fiat Account and/or Blockchain Asset Account associated with your User Account (or any other account registered to or associated with you or your User Account) to the appropriate authorities.
    2. Verification
      1. In furtherance of our AML Policy, we reserve the right to require Users to provide additional information to Gatecoin or undergo a background check prior to being authorised as a User or at any point thereafter in accordance with applicable laws. For more detailed information, with regards to our verification tiers, please consult the Verification Schedule found here.
    3. Applicable rules and regulations for transactions
      1. All of your Orders or requests that are facilitated by Gatecoin through the Gatecoin Platform shall be subject to all laws, regulations, and rules of any applicable Regulatory Body, including but not limited to, money service operator business regulations under the Money Services Operators Ordinance, the relevant regulations of the Hong Kong Customs and Excise Department and the AML Policy.
      2. The Services are at all times subject to all legislative and regulatory changes or actions within Hong Kong or in any other jurisdiction. Any change or action may adversely affect the use, transfer, exchange, and value of your Blockchain Assets and may result in Gatecoin having to suspend any or all Services at any time. Gatecoin (and the Gatecoin Group) shall not be liable for any such change or action at any time.
  8. SECURITY AND ACCESS
    1. Once we approve your User Account, you will be provided online access to the Gatecoin Platform based on your User Account login credentials and required additional layers of authentication.
    2. Gatecoin requires the use of multi-factor authentication to keep you and your accounts safe and secure. As a result, you should always use at least two forms of authentication when accessing your User Account and performing certain account operations. Forms of multi-factor authentication in addition to your login credentials may include a specified and supported two-factor authentication (2FA) application.
    3. If you choose to install and use a 2FA application on any device (e.g. without limitation mobile telephone, smart phone or tablet; including, but not limited to, a device whose operating system has been tampered with), you do so at your own risk. We reserve the right in our sole discretion to prohibit access from or by any device. We may provide your 2FA data to a third party service provider in order to help us authenticate you in accordance with our Privacy Policy.
    4. Your User Account login credentials and forms of multi-factor authentication, where applicable, have been chosen by you and allow you to access the Gatecoin Platform and the Services we provide. You agree to be solely responsible for maintaining the security of your User Account login credentials and forms of multi-factor authentication. Gatecoin (and the Gatecoin Group) is not responsible or liable for any unauthorised use of your User Account or any other accounts associated with you.
  9. COMMUNICATION
    1. You agree and consent that we may communicate with you in any way, including by way of electronic communication (including, but not limited to, through the Gatecoin Platform and/or email). We consider the email address that you have provided to be your primary means for electronic communication and we will use this email address to provide you with account-related notices and Order Receipts. We may also use this email address for other communications, including notices regarding these Terms, your User Account and any other associated account.
    2. For security purposes, should a User wish to change his/her email address, he/she must make such request by email to support@gatecoin.com and schedule a video conference with a Gatecoin Representative.
    3. Delivery of any notice to the email address on record with your User Account or any associated User Account will be considered valid notice. If any email is returned as undeliverable, we retain the right to block access to your User Account or any associated User Account until you provide and confirm a new email address.
  10. EXCHANGE OPERATIONS AND ORDERS PROCESS
    1. Exchange Ledger
      1. Gatecoin maintains a private exchange ledger (the Exchange Ledger) to track a User's ownership of (i) Fiat Currency reflected in the User's Fiat Account and (ii) Blockchain Assets reflected in the User's Blockchain Asset Account. The account amounts listed in the Exchange Ledger may correspond to funds stored in one or more pooled Blockchain Asset accounts or one or more omnibus fiat accounts. The Exchange Ledger enables immediate settlement of sale or purchase transactions when the transacting accounts contain sufficient funds. Accordingly, entries in the Exchange Ledger are not publicly disclosed nor broadcast to a given blockchain. Only transfers of Blockchain Assets from your private account into your Blockchain Asset Account, or withdrawals of Blockchain Assets from your Blockchain Asset Account to your private account, will be confirmed and visible on a given blockchain.
    2. Orders and settlement
      1. Gatecoin allows Users to set limit orders to buy or sell Blockchain Assets at a given price, a record of which is maintained in Gatecoin's order book (the Limit Order). When Gatecoin's trading engine matches buy and sell offers in its order book, Gatecoin records the trade on the Exchange Ledger, effectively transferring ownership of the seller's traded Blockchain Assets to the buyer.
      2. A User may place Market Order(s). A Market Order is a buy or sell Order to be executed immediately at the then 'current market' price. As long as there are willing sellers and buyers, Market Orders are filled. The price of the Market Order is defined by the market as an estimation of the current order book. Gatecoin (and the Gatecoin Group) does not guarantee the price for a Market Order as the price is dependent on market forces.
      3. All buy transactions are purchases of Blockchain Assets with Fiat Currency or another Blockchain Asset that settle immediately from a User's pre-funded Fiat Account/Blockchain Asset Account and are recorded on the Exchange Ledger. All sell transactions are sales of Blockchain Assets for Fiat Currency or other Blockchain Asset that settle immediately from a pre-funded Blockchain Asset Account and are recorded on the Exchange Ledger.
      4. Sell Limit Orders – When a User enters a Limit Order to sell Blockchain Assets, the full amount of the Blockchain Assets offered for sale will be placed on hold in the User's Account and any associated fees in Fiat Currency will be deducted by Gatecoin from the sale proceeds. Until the sell Order fills, expires or is cancelled, the amount of Blockchain Assets being offered for sale will not be available to be used for any other purpose, including other sell Orders or withdrawals. For partially filled sell Orders, the unfilled portion of Blockchain Assets offered for sale (and to cover any associated fees) will remain on hold until the remaining sell Order is filled, expires or is cancelled.
      5. Buy Limit Order – When a User enters a Limit Order to buy Blockchain Assets, the full amount of the purchase price and any associated fees in Fiat Currency or other Blockchain Assets will be placed on hold in the User's Account. Until the buy Order fills, expires or is cancelled, the full amount of Fiat Currency required to fulfil the buy Order will not be available to be used for any other purpose, including other buy Orders or withdrawals. For partially filled buy Orders, the value of the unfilled portion of Fiat Currency required for purchase (and to cover any associated fees) will remain on hold until the remaining buy Order is filled, expires or is cancelled.
      6. If you submit a Buy Limit Order or Sell Limit Order and you have the Blockchain Assets and/or Fiat Currency available in your User Account, you confirm and agree that you may not be able to cancel this Order prior to it filling (in whole or in part) and that Gatecoin (and the Gatecoin Group) will not be liable to you for the completion of a buy or sell Order after you have submitted a cancelation request.
      7. Any Limit Order or Market Order that exceeds the amount of available purchase price and any associated fees in Fiat Currency and/or Blockchain Assets in the User's Account will be rejected.
      8. All instructions will be executed on the basis that an actual purchase or sale is intended. Unless otherwise as provided in these Terms, you must have Blockchain Assets and/or Fiat Currency to cover all sales and/or to pay in full for all purchases in accordance with these Terms. You will fully indemnify Gatecoin on demand against all Loss and liability which it or they may incur as a result of your failure to have Blockchain Assets and/or Fiat Currency within your User Account.
      9. It is your sole responsibility to review your Order history and Order Receipts on a regular basis in order to meet the period set forth above.
    3. Exchange operations
      1. Orders you place during regular operation will normally be executed if the market price is at a point within the limits of your Order. However, Gatecoin does not guarantee that your Order will be filled even if the market price was within your limit at the time such Order was placed or was otherwise open. Gatecoin reserves the right to reject or cancel Orders made and/or pending during downtime.
      2. Orders may be subject to delays, difficulties, and/or conditions affecting transmission or execution of Orders over which Gatecoin has no control, including, but not limited to, mechanical or electronic failure or market congestion. Gatecoin (and the Gatecoin Group) shall not be liable (and no refund shall be due) for any delays, difficulties or conditions adversely affecting transmission or execution of Orders.
      3. We reserve the right to require all Orders to pass automated compliance checks. If your Order is flagged for review by any of these checks or if it meets certain defined criteria, it may require our manual review and approval which may delay the fulfilment of the Order. Gatecoin (and the Gatecoin Group) shall not be liable for any such delay.
      4. We may require you to confirm your Order request via telephone or by other forms of authentication prior to execution it if it is deemed suspicious.
    4. Instructions and dealing practices
      1. You may give instructions verbally, through the Internet, by electronic communication or in such other manner as Gatecoin may permit.
      2. Gatecoin may accept and act upon instructions which it reasonably believes emanated from you. Gatecoin is under no duty to verify your identity or authority, or the geniuses of any signature contained in an instruction. Such instructions will be binding on you and Gatecoin (or the Gatecoin Group) shall incur no liability for accepting or acting upon such instructions, whether or not in fact given by you.
      3. Gatecoin may in its absolute discretion refuse to act on any of your instructions without giving any reason (including, without limitation, if we are in any doubt, at our absolute discretion, as to whether such instructions have been properly authorised, accurately transmitted or received or properly understood by Gatecoin, or if such instructions are illegible or ambiguous). Gatecoin (and the Gatecoin Group) shall incur no liability for so refusing to act.
      4. Gatecoin may perform its duties under these Terms through any member of the Gatecoin Group and/or third parties, who may be acting as agent or as principal. Neither Gatecoin, the Gatecoin Group nor such third party is obliged to account to you for any commissions, fees, spreads (including mark ups or mark downs) or other obtained in connection therewith. In particular, Gatecoin may execute your instructions through such exchanges or dealers as Gatecoin may in its sole discretion decide.
      5. Subject to applicable laws, rules and regulations, Gatecoin may reasonably determine the priority of execution of your instructions, and you have no claim of priority to any other client of Gatecoin.
  11. OVER-THE-COUNTER TRADING
    1. Gatecoin may (in its sole discretion) offer individual Users the opportunity to trade directly with one of Gatecoin's financial partners (an OTC Trade) rather than through the general User trading platform and exchange on the Gatecoin Platform.
    2. Gatecoin will inform such Users as to the process, manner and any conditions of any such OTC Trade at the time of the requested trade. The completion of any sell or buy Order(s) relating to an OTC Trade shall be via the User's Fiat Account and/or Blockchain Asset Account, as applicable.
    3. All OTC Trades shall be subject to these Terms including, but not limited to, all of the disclaimers and limitations of liability contained herein.
  12. BLOCKCHAIN NETWORK
    1. Gatecoin does not own any underlying open source blockchain software and/or network. By using the Gatecoin Platform, you acknowledge and agree that:
    2. Gatecoin (and the Gatecoin Group) is not responsible for the operation of any underlying blockchain software and/or network(s) that support the Blockchain Assets, and that Gatecoin makes no guarantee of the functionality, security or availability of such software and networks;
    3. Gatecoin does not have any ability to prevent or mitigate cyberattacks and modifications on any blockchain software and/or networks (and that Gatecoin (and the Gatecoin Group) reserves the right in its sole discretion to take all commercially reasonable actions in such an event);
    4. the underlying protocols may be subject to sudden changes in operation rules (commonly known as "Forks"), and that such changes may materially affect the value, function and/or availability of the Blockchain Asset held in your User Account; and
    5. you should not expect any new or additional Blockchain Assets created by Forks to be credited or accrued to your User Account.
  13. AIRDROPS
    1. By depositing Blockchain Assets into your User Account, you acknowledge and agree that you will not receive any tokens and/or Airdrops which may ordinarily accrue to you had you kept the relevant Blockchain Assets within your own private wallet. By using the Service you confirm that Gatecoin may, at its sole discretion, receive and/or accrue any such tokens and/or Airdrops on its own account and that you have no right to claim or request that (i) any token and/or Airdrop is transferred to your User Account or private wallet or (ii) any compensation is paid to you in lieu of not receiving additional tokens and/or Airdrops.
  14. FEES
    1. Trading Fee Schedule
      1. The Fee Schedule is incorporated into these Terms and your acceptance of these Terms and use of the Services is considered to be your acceptance of such Fee Schedule.
      2. We reserve the right to change, modify or increase our Fee Schedule at any time. Any change to the Fee Schedule, including adjustments to any of the tiers or rates, will be posted no fewer than three calendar days before changes are to take effect and no changes will be in effect for fewer than 30 calendar days.
      3. Your use of the Services and/or the Gatecoin Platform following any update to our Fee Schedule is considered to be your acceptance of any such changes.
    2. Maker/Taker Fee System
      1. The Fee Schedule incorporates a monthly adjusted fee structure that reflects the volume of trades made within a monthly period. Monthly volume is calculated over a rolling period of 31 days. The breakdown of such can be found within the Fee Schedule and is subject to change without notice.
    3. Transfer Costs Schedule
      1. The Transfer Costs Schedule is incorporated into these Terms and your acceptance of these Terms and use of the Services is considered to be your acceptance of such Transfer Costs Schedule.
      2. We reserve the right to change, modify or increase our Transfer Costs Schedule at any time. Any change to the Transfer Costs Schedule will be posted no fewer than three (3) calendar days before changes are to take effect and no changes will be in effect for fewer than 30 calendar days.
      3. Your use of the Services and/or the Gatecoin Platform following any update to our Transfer Costs Schedule is considered to be your acceptance of any such changes.
    4. You agree to promptly pay all fees associated with or incurred by your User Account, the Orders you enter into, and the Services you receive.
  15. FUNDS AND DEPOSITS
    1. Funding and withdrawals
      1. We will not accept Fiat Currency on your behalf from a third party. All Fiat Currency deposits via bank wire transfer to a Fiat Account will only be accepted from a bank account that has been approved by our AML Policy (each, a User Bank Account). Your daily transfer limit will be determined by the levels of verification the Gatecoin compliance team has approved.
      2. All Fiat Currency withdrawals via bank wire transfer from a Fiat Account can only be transferred to a User Bank Account. The initiation of a withdrawal via bank wire or transfer from a Fiat Account using valid User Account login credentials and required forms of multi-factor authentication will be deemed to be an authorisation for Gatecoin to complete any such withdrawal to a User Bank Account.
    2. Source of funds
      1. You agree, represent and warrant that no funds presently in your Fiat Account or Blockchain Asset Account that you own and/or are a designated representative of, or funds exchanged or to be exchanged by you in the future using the Gatecoin Platform are the direct or indirect proceeds of any criminal or fraudulent activity.
  16. ACCOUNT SERVICES
    1. We provide account statements (each, a User Statement) in addition to Order Receipts to our Users via the Gatecoin Platform and/or email. We intend for the information contained in User Statements and Order Receipts to be accurate and reliable, however, errors may sometimes occur. Gatecoin (and the Gatecoin Group) disclaims any warranty of any kind, whether express or implied, as to any matter whatsoever relating to such information.
    2. Any Order that has been executed shall be bound to the actual means and results of its execution regardless of any discrepancies between the execution and the reporting for that Order that may occur. We retain the right to enter pricing, Order, and reconciliation adjustments to your Fiat Account and/or Blockchain Asset Accounts as necessary and appropriate.
    3. Every transaction indicated or referred to in any User Statement, Order Receipt, or other communication shall be deemed and treated as authorised and correct as ratified and confirmed by you unless we receive written notice to the contrary within three Business Days from the completion of the transaction.
    4. It is important for you to understand that it is your sole responsibility to access your User Account and review Order Receipts on a regular basis, and that you will be deemed to have accessed your User Account and reviewed this information on at least a monthly basis. If for any reason you are unable to do so, or do not have account notifications turned on or deliverable, it is your responsibility to notify us immediately at contact@gatecoin.com.
  17. ACCURACY OF INFORMATION
    1. While we strive to provide you with accurate information, we cannot guarantee that information on the Gatecoin Platform will always be accurate. As a result, Gatecoin (and the Gatecoin Group) are not liable to you, any other person or any institution:
      1. for the accuracy, completeness, timeliness or correct order of information;
      2. for any changes or updates to these Terms, including without limitation, to our fees, with or without notice;
      3. for any decision you make or action you take by relying on any of the information on the Gatecoin Platform;
      4. for any transaction you initiate or attempt that is not completed;
      5. for any transaction that is completed;
      6. for the price at which you buy or sell Blockchain Assets on the Gatecoin Platform;
      7. if you are not able to buy or sell Blockchain Assets on the Gatecoin Platform; and
      8. for any law, rule, regulation, action, enforcement or order in your jurisdiction that makes the use, ownership, purchase or sale of Blockchain Assets illegal or impermissible.
  18. INTELLECTUAL PROPERTY AND RELATED RIGHTS
    1. Proprietary rights and limitations on use of the Gatecoin Platform
      1. The Gatecoin Platform is our proprietary platform. All rights are reserved. The Gatecoin Platform is protected by copyright and other Intellectual Property laws.
      2. You agree not to modify, copy, reproduce, retransmit, distribute, sell, publish, broadcast, create derivative works from, or store Gatecoin (or any portion thereof, including Gatecoin source code or data or other information provided via the Gatecoin Platform), without the express prior written consent of Gatecoin.
      3. You may only use the Gatecoin Platform for the purpose intended as an online Blockchain Assets trading platform and exchange and not for any other lawful or unlawful purpose.
    2. License to use Gatecoin Platform
      1. We hereby grant you a non-assignable and non-exclusive personal, worldwide, royalty-free license to use the Gatecoin Platform and to access data and other informational content through the Gatecoin Platform consistent with the use of the Services. All other uses are prohibited. All rights in and to the Gatecoin Platform, and not granted herein, are reserved.
    3. Gatecoin IP
      1. Gatecoin IP is proprietary to Gatecoin and is protected by applicable Intellectual Property laws and regulations. Nothing contained in these Terms should be construed as granting any license to or right to use any of the Gatecoin IP without Gatecoin's express written consent. Any unauthorised use of the Gatecoin IP is strictly prohibited and may result in appropriate action being taken by Gatecoin.
    4. Third party websites
      1. Gatecoin may link to other websites operated by or with content provided by third parties, and such other websites may link to our website. Gatecoin has no control over any such other websites or their contents and will have no liability arising out of or related to such websites or their contents. The existence of any such links does not constitute an endorsement of such websites, the contents of the websites or the operators of the websites. Gatecoin is providing these links to you only as a convenience. Gatecoin may also use third parties to gather User's data from financial institutions.
    5. Reference to Gatecoin by media
      1. Journalists and media representatives are encouraged and hereby authorised to refer to Gatecoin provided that the reference is accompanied by: (a) attribution to Gatecoin; and (b) a hyperlink to gatecoin.com as feasibility permits. For all media related inquiries, please contact media@gatecoin.com.
  19. SYSTEMS OPERATIONS
    1. System disruptions or malfunctions
      1. We reserve the right to reverse and/or cancel one or more Orders in the event of (i) any disruption or malfunction in the operation of any electronic communications, trading facilities, storage facilities, recording mechanisms or other components of or integral to the Gatecoin Platform or of the Blockchain Assets, (ii) any other severe business disruption to the Gatecoin Platform, its systems or the Blockchain Assets, where the nullification of transactions may be necessary for the maintenance of a fair and orderly market or the protection of you and the public interest.
      2. If such a disruption or malfunction occurs, a Gatecoin Representative may review such Orders and declare such Orders arising out of the operation of Gatecoin during such period null and void.
    2. Systems not guaranteed
      1. Gatecoin uses commercially reasonable efforts to provide Users with a reliable and secure platform. From time to time, interruptions, errors or other deficiencies in service may occur due to a variety of factors, some of which are outside the control of Gatecoin. These factors can contribute to delays or errors in service or system outages. Users may experience difficulties in accessing their User Account, in withdrawing their Fiat Currency or Blockchain Assets, and in placing and/or cancelling Orders.
  20. DISCLAIMERS
    1. The Services that we provide through the Gatecoin Platform are provided to you on a strictly "as is," "where is" and "where available" basis. Gatecoin, the Gatecoin Group and the Gatecoin Representatives do not represent or warrant to the accuracy, completeness, currentness, noninfringement, merchantability, or fitness for a particular purpose of the Gatecoin Platform or the information contained therein or services contained thereon.
    2. In no event will Gatecoin, the Gatecoin Group or the Gatecoin Representatives be liable to you or others for any Loss arising from or out of:
      1. the existence, furnishing, functioning or your use of the Gatecoin Platform and/or the Services;
      2. any act or omission in connection with your accessing the Gatecoin Platform and/or using the Services;
      3. any inaccuracies or incompleteness, delays, interruptions, errors or omissions, including (to the extent permissible by law), but not limited to, those arising from the negligence or recklessness of Gatecoin, the Gatecoin Group and/or the Gatecoin Representatives, or contingencies beyond their control in procuring, compiling, interpreting, computing, reporting, or delivering the Gatecoin Platform, the Services thereon or the information therein;
      4. any failure or delay relating to a funds transfer caused by (or as a result of any action taken or omission of) any bank and/or financial institution;
      5. any transmission of any viruses, spyware, worms, trojan horses or other malware which may infect a User's equipment,
      6. any System Disruptions or Malfunctions (as set out in section 19) or System Failure, which prevents us from fulfilling our obligations under these Terms (including any failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems);
      7. any unauthorised access, theft, operator errors, hacks, cyber-attacks, spoofing, phishing or other attacks,
      8. any employee strikes or other labour problems; and/or
      9. any act, condition or cause beyond our reasonable control (including any force majeure).
    3. Furthermore, you agree that any act or omission made by Gatecoin or one of our banks in reliance upon or in accordance with any provision of any rule or regulation of Hong Kong, Hong Kong Customs and Excise or any other Regulatory Body having jurisdiction over such party shall constitute ordinary care.
  21. LEGAL COSTS
    1. You agree to indemnify Gatecoin for legal costs and expenses directly related to the structuring, support and/or defence of your User Account or the assets contained therein, and for any Loss related to any regulatory inquiry, legal action, litigation, dispute, or investigation.
    2. Gatecoin will be entitled to charge your User Account for such costs without notice, including legal and enforcement related costs that we incur. Any withholding by us will last for a period of time that is reasonably necessary to resolve any regulatory or legal issue at hand, and we may place any amounts garnered from you in a separate account, and will pay you the remaining balance after any noted issue has been resolved.
  22. RECORDING AND ARCHIVING
    1. You acknowledge and agree that for our mutual protection we may electronically record any of our telephone conversations and electronic communications with you and archive all online transactions, communications and information relating to your User Account and/or your use of the Gatecoin Platform.
  23. ADVICE
    1. You acknowledge and agree that in providing the Services Gatecoin (and the Gatecoin Group) is NOT and does NOT provide you with legal, tax, investment, financial or other advice, and to the extent you deem necessary, you will consult professionals in your own jurisdiction prior to using the Gatecoin Platform.
    2. All investment decisions are made solely by you. Notwithstanding anything in these Terms, we accept no responsibility whatsoever for and shall in no circumstances be liable to you in connection with such decisions. Under no circumstances will the operation of the Gatecoin Platform be deemed to create a relationship that includes the provision or tendering of investment or financial advice.
  24. TAX
    1. You confirm and agree that it is your responsibility to determine what, if any, taxes apply to the Orders and trades you complete using the Gatecoin Platform and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that Gatecoin (and the Gatecoin Group) is not responsible for determining whether taxes apply to your Orders or for collecting, reporting, withholding or remitting any taxes arising from any Orders.
  25. NON SOLICITATION
    1. All Orders received through the Gatecoin Platform will be considered unsolicited, which means that you have NOT received any investment advice from Gatecoin, the Gatecoin Group or the Gatecoin Representatives in connection with any of your Orders, and that we will not conduct a suitability review of any such Orders. You also acknowledge and agree that you have NOT and do not expect to receive any advice (as per section 23) from Gatecoin, the Gatecoin Group or the Gatecoin Representatives in connection with your Orders. In addition, your review of our Blog and/or FAQ does not constitute any solicitation or investment advice.
  26. LEGAL PROCESS
    1. We may comply with any writ of attachment, execution, garnishment, tax levy, restraining order, subpoena, warrant or other legal process, which such party reasonably and in good faith believes to be valid. We may, but are not required to, notify you of such process by telephone, electronically or in writing. You agree to indemnify Gatecoin (and the Gatecoin Group) in respect of any Loss associated with our compliance with any process that Gatecoin (or any member of the Gatecoin Group) believes reasonably and in good faith to be valid.
    2. If we are not fully reimbursed for our record research, photocopying and handling costs by the party that served the process, we may charge such costs to your User Account, in addition to any legal process fees.
    3. You further agree that we and our financial institutions may honour legal process that is served personally, by mail, or by facsimile transmission at any of our or their respective offices (including locations other than where the funds, records or property sought is held), even if the law requires personal delivery at the office where your Gatecoin Platform records are maintained.
  27. ACCOUNT CLOSURE AND SUSPENSION
    1. Account closure
      1. You may close your User Account at any time by providing written notice to us at contact@gatecoin.com. Closing your User Account will not affect any rights and obligations incurred prior to the date of your User Account being closed.
      2. You will be required to either cancel or complete all open Orders and, in accordance with the provisions of these Terms, provide transfer instructions of where to transfer any Fiat Currency and/or Blockchain Assets remaining in your Fiat Account or Blockchain Asset Account.
      3. You are responsible for any fees, costs, expenses, charges or obligations (including, but not limited to, attorney and court fees or transfer costs of Fiat Currency or Blockchain Assets) associated with closing your User Account. In the event that your account closing costs exceed the value in your User Account, you will be responsible for reimbursing Gatecoin.
      4. You may not cancel your User Account and/or your User Account to avoid paying any fees otherwise due or any examination as part of our AML Policy.
    2. Account suspension, termination and cancellation
      1. We may discontinue, terminate, suspend, or change any aspect of the Gatecoin Platform and/or the Services, or its availability to you, at any time without notice.
      2. In addition, we reserve the right to suspend, modify, deactivate or terminate your User Account as well as your access to all or any portion of the Gatecoin Platform immediately and without notice if (i) you violate any provision of these Terms; (ii) we in good faith suspect that your account is in breach of our AML Policy; (iii) we are required to do so by a Regulatory Body, court order, facially valid subpoena or binding order of a government authority; (iv) you or your User Account is subject to any pending litigation, investigation or governmental proceeding; or (v) for any other reason that we may reasonably conclude.
      3. If you do not log into your User Account for two years then Gatecoin may close your User Account.
      4. Subject to the provisions of these Terms, you agree that if your User Account is closed for any reason and unless otherwise required by law, court order or subpoena, Gatecoin is authorised to either (i) send any remaining Blockchain Assets to a Blockchain Asset address that you provide within 48 hours of receiving notice of your User Account being closed or (ii) sell any remaining Blockchain Assets on the open market and deposit the proceeds in the Fiat Account associated with your User Account. The total amount of Fiat Currency in your Fiat Account, less any applicable fees, will be distributed to you via bank wire transfer to the User Bank Account on record.
    3. Unclaimed funds
      1. In the event that your User Account is closed for any reason, Gatecoin may be required to report any remaining funds in your Fiat Account or any remaining Blockchain Assets in your Blockchain Asset Account, as unclaimed property.
      2. If this occurs, Gatecoin will use reasonable efforts to notify you at the email address shown in Gatecoin's records. If you fail to respond to any such notice within forty-eight hours, or as otherwise required by law, Gatecoin may be required to deliver any such funds to the Hong Kong authorities as unclaimed property. Gatecoin reserves the right to deduct an administrative fee resulting from such unclaimed funds, as permitted by applicable law.
  28. MISCELLANEOUS TERMS
    1. Additional terms
      1. If any provision in these Terms is invalid or unenforceable under applicable law, the remaining provisions will continue in full force and effect.
      2. These Terms (including any other terms and/or documents incorporated herein by reference) constitutes the entire agreement between you and Gatecoin relating to your use of or participation in the Gatecoin Platform and these Terms supersede any and all other agreements, oral or in writing, with respect thereto between you and Gatecoin.
      3. The failure of any Gatecoin to insist upon strict compliance with any term or provision shall not be construed as a waiver with regard to any subsequent failure to comply with such term or provision.
      4. These Terms shall not be construed to waive rights that cannot be waived under applicable national, state and federal laws.
      5. These Terms, or your rights and obligations hereunder, may not be transferred or assigned by you. However, Gatecoin shall be entitled to freely assign its rights and the benefit of these Terms as it see fits. Any attempted transfer or assignment by you in violation hereof shall be null and void. These Terms shall be binding and inure to the benefit of the parties hereto, our successors and permitted assigns.
      6. In the event that Gatecoin is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale or other change of control.
      7. The provisions of these Terms shall survive the termination or expiration of these Terms.
      8. Nothing in these Terms shall be deemed to constitute, create, imply, give effect to, or otherwise recognise a partnership, employment, joint venture, or formal business entity of any kind; and the rights and obligations of the parties shall be limited to those expressly set forth herein.
      9. Except for the indemnity and exculpation provisions herein, nothing expressed in, mentioned in, or implied from these Terms is intended or shall be construed to give any person other than the parties hereto any legal or equitable right, remedy, or claim under or in respect to these Terms to enforce any of its terms which might otherwise be interpreted to confer such rights to such persons, and these Terms and all representations, warranties, covenants, conditions and provisions hereof are intended to be and are for the exclusive benefit of you and Gatecoin.
    2. Notice
      1. Any notice to be sent to Gatecoin in connection with these Terms shall be in writing in English and delivered by hand, email, registered post or courier using an internationally recognised courier company. A notice shall be effective upon receipt and shall be deemed to have been received: (i) at the time of delivery, if delivered by hand, registered post or courier; or (ii) at the time of transmission if delivered by email provided that in either case, where delivery occurs outside Working Hours, notice shall be deemed to have been received at the start of Working Hours on the next following Business Day.
      2. The addresses and email addresses of Gatecoin for the purpose of section 28.2.1 are:
        Address: 2F Bonham Centre, 79-85 Bonham Strand, Sheung Wan, Hong Kong SAR
        Email address: notice@gatecoin.com
    3. Jurisdiction and choice law
      1. You agree that your obligations and the obligations of each User set forth in these Terms are necessary and reasonable in order to protect Gatecoin and its business. You expressly agree that due to the unique nature of our business, monetary damages would be inadequate to compensate us for any breach by you of your covenants and agreements set forth in these Terms. Accordingly, you acknowledge and agree that any such violation or threatened violation shall cause irreparable injury to Gatecoin and that, in addition to any other remedies that may be available, in law, in equity or otherwise, Gatecoin shall be entitled to obtain injunctive relief against the threatened breach of these Terms or your continuation of any such breach, without the necessity of proving actual damages.
      2. These Terms, your use of the Gatecoin Platform and the Services, your rights and obligations, and all actions contemplated by, arising out of or related to these Terms shall be governed by the laws of Hong Kong, as if these Terms are a contract wholly entered into and wholly performed within Hong Kong.
      3. Any controversy, claim or dispute arising out of or relating to these Terms or the breach thereof shall be settled solely and exclusively by binding arbitration held in the Hong Kong International Arbitration Centre (HKIAC), administered by HKIAC and conducted in English. You expressly agree that any dispute about the scope of these Terms shall be resolved in arbitration in accordance with this section. In the event that you threaten to litigate a dispute in court, we may institute arbitration to enjoin you from filing a complaint or petition in court; provided, however, that Gatecoin may, without inconsistency with this arbitration provision, apply to any court for a preliminary remedy (i.e. equitable or injunctive relief, or to seek enforcement of the arbitral award). You expressly agree that an arbitrator may issue all appropriate declaratory and injunctive relief necessary to ensure the arbitration of disputes. Any such arbitration shall be conducted in accordance with the then prevailing HKIAC Arbitration Rules & Procedures.
      4. You agree that all Orders, trades, deposits, withdrawals or sales on Gatecoin and contemplated according to these Terms shall be deemed to have occurred in Hong Kong and be subject to the internal laws of Hong Kong without regard to its conflicts of laws provisions.
      5. Section headings in these Terms are for convenience only, and do not govern the meaning or interpretation of any provision of these Terms.
    4. Questions and contacts
      1. If you have any questions or would like more information about Gatecoin, please feel free to contact us at support@gatecoin.com. If you need help or would like to contact us with a complaint, please contact our Support team using one of the following methods:
        (a) Email support@gatecoin.com using the email address associated with your User Account; or
        (b) Gatecoin 2F Bonham Centre, 79-85 Bonham Strand, Sheung Wan, Hong Kong SAR