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Terms-of-service

User Agreement for Excoino Services

Article 1: Parties to the Agreement

This agreement is entered into between TOSE FANAVARI ARIAN DADE PEYVASTEH IRANIAN (Private Joint Stock), hereinafter referred to as "Excoino", and the "User", who applies for membership and the use of Excoino's services. Both parties are bound to comply with and implement this agreement. Therefore, it is essential for the user to carefully read the provisions of this agreement and, if they accept them, proceed with completing their registration.

Article 2: Specific Definitions

  • Cryptocurrency: A type of digital financial instrument that is tradable and convertible into money. Its production, storage, and transfer are based on cryptographic methods on the blockchain (a distributed ledger). The valid cryptocurrency in this agreement refers to any cryptocurrency that is offered on Excoino's website or application and is available for transfer, conversion, or trading.

  • User: Any natural or legal person who, after completing identity verification and registration, becomes a member of Excoino. Upon receiving a user account, the user can engage in cryptocurrency transactions or use the services provided by Excoino through its website or application.

  • Cryptocurrency Wallet: A digital tool used for managing, storing, sending, and receiving cryptocurrencies. It consists of a public key (wallet address) for receiving funds and a private key for authorizing transactions.

  • Fiat Wallet: A digital tool that enables users to transfer fiat (IRR) funds from their bank account to the wallet and withdraw fiat proceeds from cryptocurrency transactions to their bank account. In other words, all fiat deposits and withdrawals by the user are processed through this wallet.

  • Excoino Services: These include trading services (such as exchanging one cryptocurrency for another, buying or selling cryptocurrencies), custody services, staking, customer support, and providing access to the Excoino Market. Excoino, as a cryptocurrency exchange, offers these services to users via its website (excoino.com) and mobile application, which is available on iOS, Android, and other platforms.

  • Excoino Market: A digital marketplace that solely provides an exchange platform for users to trade cryptocurrencies. Excoino does not act as a counterparty in user transactions and does not assume any role or responsibility in users' trading decisions.

  • Payment Transaction: The process of transferring fiat or cryptocurrency funds from a payer to a recipient for the purpose of purchasing and transferring cryptocurrency.

  • Payment Methods: Any payment method authorized on the Excoino website or application for fund transfers. These include bank gateway payments, Shetab network cards, bank transfers (online or in-person), cryptocurrency transfers, and other approved payment methods.

Article 3: Purpose of the Agreement

The purpose of this contract is to define the user's membership in Excoino's exchange and to establish the general regulations governing the user's access and use of Excoino's services.

Article 4: Validity Period of the Agreement

The validity of this agreement begins on the date the user registers and is assigned a user account. It remains in effect until Excoino terminates the contract or the user violates Excoino's rules and regulations.

Article 5: Membership Conditions and Provision of Services to Users

5-1) Single Account Policy

Each user is allowed only one account on Excoino. If it is discovered that a user has multiple accounts or is using the account of a third party, Excoino may, at its discretion, suspend or permanently deactivate those accounts. The user waives any right to object to such actions.

5-2) Agreement Acknowledgment

By signing this agreement, the user acknowledges that they have read and understood its terms. They accept the agreement freely and with full mental capacity and waive any objections regarding lack of awareness, non-acceptance, forgery, or similar claims. Using Excoino’s services constitutes acceptance of this agreement.

5-3) Compliance with Laws and Regulations

The user must comply with the laws of the Islamic Republic of Iran, including anti-money laundering, counter-terrorism financing, and international cryptocurrency regulations. If the user engages in illegal activity, Excoino bears no responsibility and will take legal action as required.

5-4) Prohibited Financial Activities

Users must not engage in money laundering, phishing, cybercrimes, or terrorism financing. Advertisements on social media that offer fiat-to-crypto conversions are considered criminal activities. Any involvement will result in severe legal action, including civil and criminal liability. Users must not share their account or conduct transactions for third parties. Excoino is not liable for any violations.

5-5) Providing Accurate and Valid Information

Users must submit correct, valid, and legal information at all times. If incorrect information is provided, the user is fully responsible for any consequences. Excoino reserves the right to suspend or deactivate accounts and report violations to legal authorities.

5-6) Updating User Information

If any of the user’s registered details change, the user must promptly notify Excoino.

5-7) Requirement to Provide Additional Information

If Excoino requests additional information, the user must provide it within 14 days. Failure to do so may result in account suspension or permanent deactivation, and the user waives any right to object.

5-8) Security of Account Credentials

Users must safeguard their credentials (username, password, etc.). If a third party gains access due to user negligence, Excoino is not responsible, and the user must compensate Excoino for any damages.

5-9) Personal Use of Account

Users must use their account personally and must not trade on behalf of others. If Excoino discovers such activity, it may suspend or deactivate the account. Excoino bears no responsibility for misuse, and criminal activities will be reported to authorities.

5-10) Bank Account Verification

Users must register their own IBAN (Sheba) number. Excoino will not process withdrawals or deposits to third-party accounts. Any violation may result in account suspension, and the user waives any right to object.

5-11) Investment Risks

The user acknowledges that cryptocurrency investments involve risks and accepts full responsibility for any losses. Excoino is not liable for compensation.

5-12) Reviewing Transaction Details

Users must carefully review transaction details before proceeding. Once confirmed, transactions cannot be disputed. Objections regarding fees, deductions, or service charges will not be accepted.

5-13) Error Correction Authority

Users authorize Excoino to correct transaction errors without prior user approval. Excoino may adjust balances, reverse transactions, or modify records as needed. The user waives any right to object.

5-14) Irreversibility of Transactions

Transactions cannot be reversed once executed. Users must verify all details before confirming a transaction. Mistakes such as sending funds to the wrong wallet are the user’s responsibility, and Excoino is not obligated to recover funds.

5-15) Responsibility for Deposit Accuracy

Users must ensure network compatibility before depositing cryptocurrency. Excoino is not responsible for errors caused by user negligence.

5-16) Use of Time-Sensitive Addresses

Users must avoid using temporary wallet addresses. Excoino is not responsible for deposits sent to expired or restricted addresses.

5-17) Validity of Blockchain Deposits

Deposits must be made on the main blockchain (not a testnet). If Excoino mistakenly confirms an invalid deposit, the user must send the correct cryptocurrency and cover all losses.

5-18) Transaction Cancellation Rights

Excoino reserves the right to void suspicious transactions and return funds to their original accounts at its discretion.

5-19) Transaction Verification

Excoino may suspend transactions for security checks. If an activity is deemed illegal, Excoino may permanently deactivate the user’s account.

5-20) Prohibited Use of Automated Tools

Using bots, scripts, or automation is strictly prohibited. If detected, Excoino will suspend the account, report the user, and only return the original deposited assets if possible. Users must compensate Excoino for any negative balances.

5-21) Compliance with Regulations

Excoino may suspend or deactivate an account at any time if the user violates regulations. No court order is required for such actions.

5-22) System Maintenance and Updates

Excoino may temporarily restrict access for maintenance and upgrades. Users must accept such changes.

5-23) Supported Cryptocurrencies

Excoino only supports cryptocurrencies listed on its platform. Users must verify support before storing, sending, or receiving cryptocurrencies. Excoino is not liable for unsupported assets.

5-24) Liability for Damages

If the user’s actions cause losses to Excoino, they must compensate for all financial and reputational damages.

5-25) Marketing Communications

By signing this agreement, the user agrees to receive Excoino's promotional emails and SMS notifications.

Article 6: Excoino’s Obligations and Responsibilities

6-1) Compliance with Iranian Laws

Excoino operates as a cryptocurrency exchange broker in Iran and is obligated to comply with all regulations of the Islamic Republic of Iran. If a user’s account is suspended, seized, or restricted due to legal orders or court rulings, Excoino bears no responsibility.

6-2) Scope of Services

Excoino’s services are strictly limited to the terms outlined in this agreement. It does not guarantee additional services beyond those explicitly stated on its website or application.

6-3) Membership and Special Programs

Acceptance of this agreement only grants access to general services. If Excoino introduces special programs or investment plans, users must separately register and accept additional terms. Membership does not automatically grant priority rights.

6-4) Regulatory Changes

Since cryptocurrency laws may change, Excoino is required to notify users of any regulatory updates. Users must review and comply with the new regulations.

6-5) Address Changes for Security

Excoino reserves the right to change users’ wallet addresses for security or system upgrades. Users must accept such changes.

6-6) System Error Corrections

If a system error occurs, Excoino may correct inaccuracies in transaction records without prior user approval.

6-7) Market Analysis Disclaimer

Excoino does not provide investment advice or guaranteed predictions. Any market analysis provided is speculative, and Excoino is not liable for user losses.

6-8) Transaction Delays

Excoino is not responsible for failed or delayed transactions caused by issues in blockchain networks, receiving banks, or third-party systems.

6-9) Cybersecurity Risks

Excoino is not liable for damages caused by hacking, malware, phishing, cyberattacks, or force majeure events.

6-10) Cryptocurrency Price Updates

If there is a pricing system failure, Excoino may suspend transactions and recalculate rates. The final settlement price will be based on the actual market rate at the time of order execution.

6-11) No Profit Guarantee

Excoino does not guarantee interest payments on fiat or cryptocurrency balances.

6-12) No Buyback Obligation

Excoino is not responsible for repurchasing cryptocurrencies or tokens from users.

6-13) User-Managed Pricing in Excoino Market

Cryptocurrency prices in Excoino Market are set by users, not Excoino. Users cannot claim compensation for price fluctuations.

6-14) Waiver of Claims Against Excoino

Users waive all legal claims against Excoino, its employees, and affiliates, except for obligations explicitly stated in this agreement.

Article 7: Payment Terms

7-1) Cryptocurrency Withdrawals

  • During business hours (9:00 AM - 5:00 PM): Withdrawals are processed within 10 minutes after transaction approval.
  • Outside business hours and public holidays: Withdrawals are processed within 2 hours after transaction approval.

7-2) Fiat Withdrawals Under FATA Regulations

Under the 2022 FATA (Iranian Cyber Police) directive, all fiat withdrawals originating from IRR deposits must be held for 72 hours for verification. Excoino is not responsible for delays and must comply with FATA regulations.

7-3) Delays Due to Market Conditions

The stated withdrawal times are standard processing times, but delays may occur due to market volatility, network congestion, or high transaction volume. Users waive any claims for damages due to such delays.

7-4) Aggregated Payouts for Multiple Orders

If a user requests multiple fiat withdrawals in one day, Excoino may consolidate them into a single payout or process them in multiple transactions over different days due to banking restrictions.

7-5) Banking Delays Beyond Excoino’s Control

If banking restrictions or payment limits delay fiat withdrawals, Excoino will process the payment as soon as possible but is not responsible for further delays.

7-6) No Liability for Payment System Issues

Excoino is not responsible for failed transactions due to payment gateway issues, banking errors, internet outages, or technical failures.

7-7) Service Fees

Transaction fees are displayed on Excoino's website and app. Excoino may update fees at any time.

7-8) User Responsibility for Transfer Fees and Taxes

Users must cover all transfer fees, exchange fees, and transaction-related taxes.

Article 8: Miscellaneous Terms

8-1) Partial Invalidity

If any part of this agreement is found invalid by law, the remaining terms remain enforceable.

8-2) Updates to the Agreement

Excoino may modify this agreement at any time, and changes will be announced via the website or app. Users must review and accept new terms.

8-3) Official Communications

Excoino will send notices to users via the email and phone number provided during registration.

8-4) Trading Restrictions

Excoino reserves the right to enable or disable the conversion (buying/selling) of cryptocurrencies at its discretion.

8-5) Account Handling in Case of User’s Death

Upon a user’s death, their heirs must notify Excoino immediately. The account will be frozen, and funds will be transferred to heirs upon submission of legal documents.

8-6) Account Handling in Case of User’s Bankruptcy or Incapacity

If a user becomes legally incapacitated or bankrupt, their representative must notify Excoino. The account will be frozen until proper legal documentation is provided.

8-7) Intellectual Property Rights

All trademarks, branding, design elements, and software code used in Excoino’s platforms are the exclusive property of Excoino. Unauthorized use is strictly prohibited.

8-8) Official Address for Legal Notices

The address listed on Excoino’s website or app serves as the official legal address for all communications.

Article 9: Force Majeure (Uncontrollable Events)

Force majeure refers to external, unavoidable, and unforeseeable events beyond Excoino’s control, such as:

  • Internet outages
  • Sanctions or government restrictions
  • Cyberattacks or hacking incidents
  • Natural disasters (earthquakes, floods, etc.)

If a force majeure event temporarily suspends Excoino’s services, users must negotiate a new agreement. Otherwise, Excoino reserves the right to terminate user accounts while protecting their funds. Excoino is not responsible for losses caused by force majeure events.

Article 10: Dispute Resolution

Excoino aims to provide a secure and reliable platform. If a dispute arises, users must first attempt to resolve it through good-faith negotiations.

If no resolution is reached:

  • The dispute will be referred to Excoino’s designated legal arbitrator.
  • Arbitration will follow Iran’s civil procedure laws.
  • All arbitration notices will be delivered via SMS or formal legal notice.

This arbitration clause remains valid even if the main agreement is terminated.