FALCON CAPITAL VENTURES, an Indian PRIVATE LIMITED Company (“Company”, “We”, “Our”, which phrase refers to all its affiliates, successors, and assigns), owns and operates the website and mobile app operated under the brand name – “CoinTrade” (“Platform”).
OUR POLICY DESCRIBES OUR METHODS AND PROCEDURES FOR COLLECTING, USING, PROCESSING, STORING, DISCLAIMER, AND PROTECTING PERSONAL DATA AND INFORMATION, INCLUDING, BUT NOT LIMITED TO, BUSINESS, FINANCIAL, OR OTHER SENSITIVE PERSONAL DATA AND INFORMATION (COMMONLY CALLED “PERSONAL INFORMATION”), INCLUDING, BUT NOT LIMITED TO.
This policy is a legally binding agreement between you, the Platform user, and us, the Platform owner and operator. If you sign up for an account with us or use the Platform in any way, you agree that we may collect, access, process, store, use, disclose, and protect your personal information as described in this Policy. External links on the Platform may lead to other platforms (which may have different privacy policies or privacy notices) that do not adhere to this Policy.
If you disagree with our policy, please do not use or access this platform. IF WE DO NOT VIEW YOUR ACCEPTANCE OF THIS POLICY AS DEFINITIVE, WE WILL NOT BE ABLE TO PROVIDE SERVICES TO YOU. You may also choose not to give your consent or revoke any consent you have previously given, but only if you notify us of your decision to do so in writing.
We may not be able to provide the benefits or services for which the aforementioned personal information was requested if you do not provide it to us or if you revoke your consent to provide it to us at any time.
THIS POLICY, IN ADDITION TO THE TERMS OF USE, GOVERNS YOUR USE OF THE PLATFORM.
THIS POLICY CONFORMS TO THE INFORMATION TECHNOLOGY ACT OF 2000 AND RELATED REGULATIONS MADE THEREUNDER.
One, the user’s cryptocurrency and fiat currency; One, at To be clear, when using CoinTrade’s Crypto custody services (which are provided either directly or through its technology partners / subcontractors), (a) You shall only use Indian Rupees to enter into such buy or sell transactions where Cryptos are bought or sold with a fiat currency, in which case You shall maintain in Your Account only the amount of Indian Rupees necessary for immediate trades, and (b) You shall keep only the amount of Cryptos that are immediately needed for trades in Your Account. At the time this policy was written, CoinTrade did not allow users to deposit or withdraw cryptocurrencies directly from their wallets. CoinTrade will notify its Users if and when it decides to permit such actions, along with any necessary caveats.
1.2.1 The CoinTrade Crypto Custody Wallet and the broader usage of cryptocurrencies on the platform:
To store Cryptos that You have purchased on the Platform, we shall grant You access to the CoinTrade Crypto Custody Wallet following the activation of Your Account and for as long as Your Account is current and valid. CoinTrade may offer this service in some situations, either in-house or through third-party technology providers. CoinTrade will act as the custodian for any cryptocurrency held in the CoinTrade Crypto Custody Wallet. The CoinTrade Crypto Custody Wallet facilitates the buying and selling of cryptocurrencies. If you need a record of the Cryptos you’ve bought, sold, or have in your possession, we’ll gladly offer one.
1.2.2 Both CoinTrade and the User acknowledge that the User, and not CoinTrade, is the legal owner of the User’s Crypto in the CoinTrade Crypto Custody Wallet. Crypto can only be transferred by the user themselves. The Platform only facilitates transactions with technology and other value-added services (such as custodial services, CoinTrade Crypto Custody Wallet services, Assured Quantity services, etc.) for your convenience; you are responsible for executing all debit (selling Cryptocurrency) and credit (buying Cryptocurrency) transactions directly. The User will not acquire ownership or control of the coin through the Platform / CoinTrade. The User and the counterparty conduct all transactions on the third-party Crypto exchange directly.
1.2.3 A person can buy or sell cryptocurrency using rupees, a form of fiat currency (INR/USD/USD). CoinTrade’s crypto custody wallet does not earn income or provide any other incentives to cryptocurrency holders.
You cannot send, receive, or store cryptocurrencies that are not compatible with our Platform. You agree that CoinTrade is not responsible for any damages you incur as a result of your violation of this Clause, this Policy, or the Terms of Use.
You may only use the CoinTrade Crypto Custody Wallet to access Platform services and may not use it to buy, sell, transfer, or trade cryptocurrencies.
You agree that, if the ability arises, you will not transfer or send the Cryptos accounted for You in the CoinTrade Crypto Custody Wallet to any other Crypto wallet outside of India. All Cryptos received from external wallets (and credited to Your Account) must originate within India if you wish to use the CoinTrade Crypto Custody Wallet.
You acknowledge that CoinTrade does not know where the cryptocurrency you exchange, credit, or debit on the Platform originated, and that you are solely responsible for ensuring that it originates from trustworthy sources within India. If you discover any suspicious or unlawful activity involving your account, please report it immediately.
In the case that Crypto is mistakenly credited to the User’s Account or, if applicable, the User’s CoinTrade Crypto Custody Wallet, the User must immediately notify CoinTrade and request a refund or transfer of the Crypto. CoinTrade would be in violation of applicable laws and lose other rights and remedies if it did not take these measures.
Making Use of Fiat Money 1.3: The Rules and regulations
1.3.1 To make a purchase of cryptocurrencies on the Platform, you will need to deposit Indian Rupees Or US dollar into Your Account. As soon as feasible, excluding any delays caused by the applicable banking channels, payment gateways, and/or other regulatory limits, your Account will be updated to reflect the fiat money moved from your own bank account. If you wish to withdraw the funds that are currently available in your tradable Account on the Platform, you can do so at any time by submitting a request to have the funds in your Account transferred to your own bank account (“Withdrawal Request”) on the Platform. Should CoinTrade receive a withdrawal request, it will do everything in its ability to process the withdrawal as quickly as possible, subject to any delays that may be caused by the required banking channels, payment gateways, and/or other regulatory constraints.
Although CoinTrade does not operate a payment system, you agree that it may collect the funds for the limited purpose set forth above.
You agree that you will have no legal recourse against CoinTrade and that CoinTrade will have no liability to you if the fiat currency top-up from Your banking account or transfer from your User Account is later invalidated for any reason. If a chargeback or claim is successful, or if the top-up is reversed, you will be responsible for paying the full amount of the top-up plus any applicable fees. Whether or not a disputed top-up is valid and the party responsible for payment is determined by your debit or credit card company, the bank that initiated the top-up, or CoinTrade. You consent to CoinTrade debiting your fiat currency balance to recover any amounts owed to Us. CoinTrade will pay you in some other way if the funds in your account are inadequate to cover your liability. To the extent authorised by applicable law, CoinTrade may try to get in touch with you and/or collect the monies from your secondary funding sources if it is unable to recover the funds from the primary funding source. We have the right to restrict or terminate your access to our Platform at any time. You will receive a refund to the payment method originally used by you to finance your Platform account if you have not used the fiat currency money within 360 days. If we are unable to refund the funds after making a good faith effort to do so, we shall notify you that we are forfeiting the monies.
Definitions for Related Terms
Any withdrawals or transfers of fiat currency (to the extent authorised on the Platform from time to time) may be subject to such limitations and restrictions as may be published on the Platform from time to time.
We reserve the right to suspend a user’s capacity to make bank transfers if we have cause to think that such are in violation of relevant legislation or if the user is suspected of misusing the service or engaging in fraudulent activity. Such questionable behaviour may prompt reporting to regulatory/law enforcement bodies.
Any questionable requests to withdraw fiat currency will be halted and refunded immediately. Transactions in fiat currency will be halted as well pending the outcome of the investigation. It’s possible that you’ll get a heads-up if an inquiry involves you. Your account may be unblocked and trading resume if you provide a justifiable explanation to CoinTrade. If you do not respond to our requests for information within a reasonable amount of time, we will assume that you do not want to reactivate the suspended Account.
2. A few words about the conditions under which cryptocurrency purchases and sales can be made:
Standard Orders and Limit Orders (Version 2.1):
Placement of buy/sell orders can be done in two ways:
2.1.1 either with a limit order or an instant order. You can choose to purchase or sell immediately based on the price displayed on the Platform at the moment you place an instant order, whereas a limit order specifies the price at which the transaction is to be executed (regardless of whether the price is the market price at the time the order is placed).
Services with Guaranteed Quantity Availability for Urgent Orders (2.2) Assured Quantity Service is an optional extra that CoinTrade provides for its customers. CoinTrade offers this service to guarantee that the amount and price displayed on the Platform for Instant Orders will not change despite fluctuations in the market.
2.2.2 Cointrade acknowledges that it is not acting as the User’s agent and is instead carrying out the User’s instructions to complete a particular Crypto transaction at the User’s set price.
2.2.3 To help our Users buy and sell cryptocurrencies, CoinTrade compiles and displays the last traded prices of those assets on a number of different third-party cryptocurrencies exchanges. User estimates of how many cryptocurrencies someone can buy or sell with a specific sum of Indian Rupees or US Dollars are displayed.
2.2.4 The User gives CoinTrade precise instructions regarding the number of coins to purchase or sell. CoinTrade makes cryptocurrency trades on the User’s behalf on a third-party exchange in response to instructions from the User. The CoinTrade algorithm determines the value of a certain quantity of Crypto based on a number of parameters, such as the high volatility and fluctuation of the Crypto market, exchange costs, etc. The exact price shown on the CoinTrade platform may change upon the execution of a trade on a third-party crypto-exchange. CoinTrade will issue a Contract Note outlining the terms of the trade to the User.
2.2.5 To reach the guaranteed amount, CoinTrade might make several linked trades and transaction legs on other cryptocurrency exchanges (Article 2.2.5). When using the Assured Quantity Service, the User grants CoinTrade permission to supply the agreed-upon amount while keeping any surplus Cryptocurrency or INR/USD/USD as payment for the service. If there is a discrepancy between the market and what CoinTrade expects, they will pay the User the difference in cryptocurrency or INR/USD/USD/USD.
2.2.6 At the core of CoinTrade’s Assured Quantity Service is a proprietary algorithm that calculates the price of cryptocurrency on the open market. In accordance with this Assured Quantity Service, CoinTrade will take on any price fluctuations, both good and negative, and will keep any profits it makes as a result. A Contract Note, outlining the trades made per Your directions, will be issued to You by CoinTrade. The Contract Note, Your Rupees and Crypto Balances in Your Account, and the Transaction History and express authorisation for the Assured Quality Services and retention of excess amount as a service fee are all accessible records and ledgers maintained by CoinTrade.
2.3 Make sure your CoinTrade Crypto Custody Wallet has enough funds in it before you try to make a purchase or send money.
2.4 Any disputed transaction reported or completed on the CoinTrade Crypto Custody Wallet, or any other matter connected to the CoinTrade Crypto Custody Wallet, may be subject to timing and/or authenticity verification.
2.5 CoinTrade may need to perform numerous related deals (fiat currency to crypto or crypto to fiat currency) on different third-party crypto exchanges in order to complete the completion of a single trade by a User (i.e. a buy or sell order). CoinTrade may use external cryptocurrency exchanges to make cryptocurrency purchases and conversions in order to fulfil User requests. All purchases of Cryptocurrency used to exchange/convert Cryptocurrency for the purchase of set quantities of Cryptocurrency as advised by the User shall be assumed to be carried out on the User’s behalf by CoinTrade.
2.6 We have the right to limit or suspend your use of the CoinTrade Crypto Custody Wallet, your Account, or any other service or part thereof at any time and for any reason. CoinTrade reserves the right to pause any transaction for any reason, including but not limited to suspicion of fraud or misconduct, violation of relevant laws, failure to comply with the provisions of this Policy and/or the Terms of Use. CoinTrade will not be held liable for any damages or costs incurred as a result of your account being terminated or suspended.
2.7 All purchases and/or sales made on the Platform are final, non-cancellable, non-refundable, and non-reversible. Initiating a sale/purchase and/or other act/omission on the Platform is done at your own risk. There is no way for you to get a refund or a reversal, and neither We nor any third party can cancel, change, or undo it if you ask us to.
2.8 Users agree that CoinTrade may make financial commitments on their behalf for the purpose of completing deals, as set forth in this Policy and the Terms of Service. In making payments to external cryptocurrency exchanges in connection with deal execution, CoinTrade is doing so at the express direction of its Users. In order to complete their trades on the Platform, users authorise CoinTrade to transfer funds to the relevant third-party crypto exchanges. CoinTrade’s contract notes for each trade may detail any third-party payments made on Users’ behalf.
2.9 To be clear, Users may only request CoinTrade to buy or sell cryptocurrency on their behalf on third-party cryptocurrency exchanges, as described in Section 2.9. No User trades are executed from the Cryptocurrency supply currently available on CoinTrade.
2.10 By agreeing to the terms of this Policy and the Terms of Service, Users give CoinTrade permission to enter into agreements or arrangements with third party service providers to provide a Crypto custodial service and ledger service.
2.11 Without the User’s authorization, CoinTrade cannot complete any transactions on their behalf.
2.12 You acknowledge and agree that we may monitor your transactions for the purpose of detecting any unlawful, fraudulent, or in violation of our TOS activity. In the event that we, in our sole discretion, determine that a transaction is suspicious, illegal, or in violation of this Policy and/or the Terms of Use, we reserve the right to take any action we deem necessary or appropriate, including but not limited to holding the transaction, requesting additional information about You and Your funding source, suspending your Account and freezing any balances within it, or terminating this agreement and your right to access the Platform.
2.13 We reserve the right to suspend a User’s Account and CoinTrade Crypto Custody Wallet / fiat currency balances to the account of such User pending the outcome of any investigation into complaints we receive from banks, payment gateways, or regulatory authorities that the User’s transactions are fraudulent.
2.14 In order to facilitate rapid and secure transactions, you have given CoinTrade permission to store your cryptocurrency in their Crypto Custody Wallet. The cryptocurrency stored in your CoinTrade Crypto Custody Wallet is subject to your instructions.
2.15 We reserve the right to refuse to execute any order and/or transaction initiated by You if it violates this Policy and/or the Terms of Use, the policy of the Platform, fails to comply with directions of appropriate enforcement authorities, appears suspicious or malicious, or as per the instructions of any law enforcement or judicial authority whether in India or any jurisdiction.
2.16 CoinTrade executes Crypto transactions at the prices indicated by the User and does not serve as the User’s agent in any way, shape, or form. CoinTrade Platform helps make the deal possible by leveraging technology and value-added services. To avoid any confusion, Coin Switch does not transfer ownership. As a result, it has no legal responsibility for the User’s conduct, and this includes compliance with tax regulations like GST and Income Tax. Besides accepting payments from users and holding those monies in trust, the parties are not functioning as agents.
- Exclusion and Severability
To the best of our ability, this Policy abides by all laws that apply to it. The invalidity or unenforceability of any provision of this Policy shall not affect any other provision or have any other adverse effect.