Last updated: December 21st, 2021
1. Enforcement & Amendments
soon as the user visits the Website and uses Services. By doing so, the user confirms
the registration procedure.
should not use or continue using the Services.
We reserve the right to alter, amend or modify these Terms from time to time, in
our sole discretion. We will provide you with notice of such changes by sending
an e-mail, providing notice on the homepage of the Website and/or by posting the
amended Terms via our Website and updating the "Last Updated" date at the top of
these Terms. The amended Terms will be deemed effective immediately upon posting
2. Provided Services
Our Services provide you with a possibility to Exchange one type of crypto
asset to another one.
For the purposes hereof "Exchange" shall mean an exchange of the crypto asset
of one type to the crypto asset of another type at the terms and conditions
set forth by exchanging parties, which is executed via the Third-party service
in respective block-chain network. When you exchange crypto assets you
acknowledge and agree that the Exchange will be processed through the
third-party exchange service with additional fees applicable to such Exchange.
You acknowledge and agree that the exchange rates information made available
via the Services are an estimation only and may differ from prevailing rates
available via other sources outside of our Services.
"Crypto Assets" herein shall be deemed as type of assets which can only and
exclusively be transmitted by means of block-chain technology, including but
not limited to digital coins and digital tokens and any other type of digital
mediums of exchange, such as Bitcoin, Ethereum, Ripple, etc, to the full and
absolute exempt of the securities of any kind.
To be able to use all possibilities and functionality of our Services you shall
go through the registration process and create a Velo Trust Account.
"Velo Trust Account" is a user account accessible after the registration
process and via the Services where the user may request to make a crypto
assets exchange. User should manage and maintain only one Velo Trust Account.
Users are prohibited from creating multiple accounts. When you create a
Velo Trust Account you oblige to:
provide accurate e-mail, which actually belongs to you and shall be,
therefore, verified. The access to the services provided by the
Velo Trust without verification of the e-mail is not allowed;
maintain the security of your Velo Trust Account and promptly notify us
if you discover any suspicious activity related to your account;
agree to receive emails containing information about credentials,
passwords, transactions and marketing promotions;
take responsibility for all activities that occur under your Velo Trust Account.
When making an exchange, your rate gets "locked" for 1 hour from
the point we provide you with the payment wallet address, meaning
it remains the same irrespective of the changes on the market.
In order to perform the Exchange via our Services, our system will
automatically generate the particular address, which contains
information about the user; (ii) the crypto asset that user wants
to exchange and the crypto asset that user wants to receive
(jointly - "crypto pair"); and (iii) the recipient address provided
by the user (the address where exchanged crypto assets will be
The addresses are non-reusable and activated for one
transaction only during a specific time period set forth
The technical issues arising from your misuse of our services,
such as creating incorrect transactions (entering a wrong address
both when indicating the recipient address and when sending your
crypto assets to us), and other types of user mistakes may be
resolved by our technical department with limitations. Upon
successful resolution of a technical issue, the crypto assets sent
incorrectly will be refunded to the user, less all applicable fees.
Velo Trust technical department is able to refund only BTC
from the Segwit BTC address. No other crypto assets,
including but not limited to, LTC, BSV, BCH sent to a
Segwit BTC address could be refunded;
You acknowledge and agree that any refund may cause operating
costs for the allocated resources required for resolving user
issues arising from misuse of our services. Velo Trust shall be
entitled to recover its operating costs for the services while
executing any refund. In this case crypto assets will be refunded
to the user, subtracting operating costs and network fees, only
with a prior user’s consent.
YOU INDEMNIFY AND HOLD Velo Trust HARMLESS AGAINST ANY DIRECT,
INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF
ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF
PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT
(INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING
OUT OF OR IN ANY WAY CONNECTED WITH YOUR USE OF OUR SERVICES,
INCLUDING BUT NOT LIMITED TO INCORRECT USE OF REUSABLE ADDRESS,
INCORRECTLY CONSTRUCTED TRANSACTIONS ETC.
Velo Trust does not provide custodial services, which means, we do
not store your crypto assets on deposits and balances. YOU HEREBY
UNDERSTAND AND ACKNOWLEDGE, THAT ANY DELAYS ARE POSSIBLE; YOU
INDEMNIFY AND HOLD US HARMLESS AGAINST ANY CLAIMS, DEMANDS AND
DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL,
OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO,
LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION
IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR
OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE
EXCHANGE DELAY, WHETHER ORIGINATED FROM OUR FAULT OR NOT.
Velo Trust keeps its fee policy transparent. The current fee structure is
two-layered and is comprised of exchange and network fees.
The exchange fee is the amount charged by Velo Trust for executing transactions
initiated by the users. During transactions, Velo Trust finds the best rate
available on the market and fixes it for the conversion in question; the
respective rate is displayed to the user, thus guaranteeing the protection of
users’ funds from market fluctuations during the exchange.
The network fee is paid to cryptocurrency miners for processing transactions in
the network, and it serves to ensure withdrawals of the funds from exchanges.
Velo Trust collects and transfers these payments to respective exchanges, which
themselves set the amount of the fee at any particular time. The moment a
transaction is created, this fee is displayed to the user, with the amount being
based on our estimates. With that, you acknowledge and agree that the final amount
of the network fee charged can sometimes differ from our estimate. This occurs
entirely due to the volatile nature of network fees prevalent on exchanges and
does not depend on our platform in any respect.
Prior to your use of the Services and on an ongoing basis you
represent, warrant, covenant and agree that:
you use our Services at your sole option, discretion and risk;
you are solely responsible for any applicable taxes which may be
payable while using our Services;
you are NOT in, under the control of, or a national or resident of
any country where crypto assets transactions are explicitly
prohibited. Velo Trust does not operate in Restricted Locations.
Velo Trust maintains the right to select the markets and
jurisdictions to operate in and may restrict or deny its
services to certain countries at any time;
you are at least 16 years old or of other legal age, according to
your relevant jurisdiction;
you agree to pay the fees for Exchanges completed via Services as
defined by Velo Trust, which We may change from time to time;
there are risks, associated with Internet-based system, such as the
failure of hardware, software, and Internet connections and with the
Blockchain Protocol, such as any malfunction, unintended function,
unexpected functioning of or attack on the Blockchain protocol;
you guarantee that your crypto assets belong to you and they are not
sold, encumbered, not in contention, or under seizure, and that
neither exist any rights of third parties to your crypto assets;
you shall provide correct information for constructing Exchange
(e.g. pay-in and payout wallet address).
You further represent, agree and warrant, that you will not violate any law,
contract, third-party right or commit a tort by accessing or using the
Services, and that you are solely responsible for your actions and/or
inactions while using our Services. Without prejudice to the foregoing,
you represent, agree and warrant, that YOU WILL NOT:
use our Services or will immediately cease using those if any
applicable law in your country prohibits or will prohibit you at
any time from doing so;
use our Services to participate in fraudulent, scam or any type of
provide false, inaccurate, or misleading information;
attempt to modify, decompile, reverse-engineer or disassemble our
software in any way;
use any robot, spider, crawler, scraper or other automated means or
interface not provided by us to access the Services or to extract
attempt to circumvent any content filtering techniques we employ,
or attempt to access any service or area of our Services that you
are not authorized to access;
develop any third-party applications that interact with our
Services without our prior written consent; AND
Encourage or induce any third party to engage in any of the
activities prohibited under this Section.
YOU INDEMNIFY AND HOLD US HARMLESS AGAINST ANY CLAIMS, DEMANDS AND DAMAGES,
WHETHER DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL, OR ANY OTHER DAMAGES OF
ANY KIND, INCLUDING, BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR
LOSS OF DATA OR LOSS OF ASSETS, WHETHER IN AN ACTION IN CONTRACT, TORT
(INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ORIGINATED FROM OR
IN ANY WAY CONNECTED WITH INVALIDITY OR BREACH OF ANY OF THE PROVISIONS OF
THIS SECTION AND THE ENTIRE TERMS.
6. Information Privacy
Never share the details of your transaction, including, but not limited to,
your Velo Trust ID, the transaction hash, recipient address and/or e-mail related
to a Velo Trust account, with anyone except Velo Trust representatives. Velo Trust
will not request specific information about user accounts, transactions or other
personally identifiable data from you unless: (i) the information is requested to
help complete a transaction initiated by you; (ii)the information is requested to
efficiently process your enquiry.
You should ascertain that your transactions and/or account details are not disclosed
by ensuring that you do not knowingly or accidentally share, provide or facilitate
unauthorized use of it.
WITHOUT LIMITING THE FOREGOING, Velo Trust SHALL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES
INCURRED AS A RESULT OF ANY INFORMATION SUBMITTED TO IT THROUGH THIS WEBSITE OR ANY CONTACT
E-MAIL THEREOF OR FOR ITS TRANSMISSION OF INFORMATION TO ANY PERSON(S) OR ENTITY(IES) AS A
RESULT OF A REQUEST FOR SUCH TRANSMISSION REASONABLY BELIEVED BY Velo Trust TO HAVE BEEN
MADE BY SUCH PERSON OR ENTITY.
7. Risk Disclosure
Velo Trust does not and will not provide any investment advice or legal advice regarding your exchange.
You acknowledge that only you are responsible for your decisions and actions performed on our platform
and we will not make any personal recommendations for or advise you on the exchange of particular crypto
assets. Before performing any exchange of crypto assets, you should carefully consider whether such an
exchange is suitable for you with your current circumstances and financial resources.
Be aware that crypto assets are generally assumed to be subject to high volatility due to them still being
in the early stages of developing, technologically and financially. Crypto assets do not necessarily have
a specific form of protection or regulation by any governmental body, which means that by exchanging crypto
assets, you will not be able to enforce any guarantees or safeguards expected with regulated financial services.
THE RISK OF LOSS IN THE EXCHANGE OF CRYPTO ASSETS CAN BE SUBSTANTIAL, AND THEREFORE YOU SHOULD UNDERSTAND THE
POSSIBILITY OF LOSSES ASSOCIATED WITH THE EXCHANGE OF CRYPTO ASSETS AND MUST ASSUME RESPONSIBILITY FOR ALL THE
RISKS ASSOCIATED WITH SUCH EXCHANGES AND FOR THEIR RESULTS.
8. Intellectual Property
All our intellectual property assets ("IP") including but not limited to all copyrights, trademarks, patents,
service marks, trade names, software code, icons, logos, characters, layouts, trade secrets, buttons, color scheme
and graphics are protected by local and international intellectual property laws and treaties.
We hereby grant you a limited, nonexclusive and non-sublicensable license to access and use our IP for your personal
In any case you may not alter, modify, reproduce, distribute or commercially exploit any materials, including text,
graphics, video, audio, software code, user interface design or logos.
The license granted under this Section will automatically terminate if We suspend or terminate your access to the
In case you upload or share any feedback, suggestion, idea or other information or material ("Content") with us you
automatically grant us a worldwide license to use your content. It becomes part of the public domain as long as it
remains on our Website and Services. It can be used for marketing or any other purposes at our sole discretion.
You agree and consent to receive electronically all Communications, that Velo Trust may be willing to communicate to
you in connection with your Velo Trust Account and/or use of our Services. For the purposes hereof “Communications”
shall mean all and any communication, agreement, document, receipt, notice and disclosure, which may be from time to
time addressed to user by Velo Trust. You may withdraw your consent to receive electronic Communications by sending
a withdrawal notice to support. If this is a case you waive your right to plead ignorance. If you decline or withdraw
consent to receive electronic Communications, Velo Trust may suspend or terminate your use of the Services.
11. Limitation of Liabilities
Except as expressly provided to the contrary in a writing by Us, our Services are provided on an "As is" and "As
available" basis. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED,
INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
Except as otherwise required by law, IN NO EVENT SHALL Velo Trust, OUR DIRECTORS, OFFICERS, MEMBERS, EMPLOYEES OR
AGENTS BE LIABLE FOR ANY DIRECT, INDIRECT, CONSEQUENTIAL OR SPECIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING,
BUT NOT LIMITED TO, LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT
NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE
OUR SERVICES, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY
INFORMATION OBTAINED FROM Velo Trust, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES
OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR
NOT RESULTING FROM A FORCE MAJEURE EVENT, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO
Velo Trust’S RECORDS, PROGRAMS OR SERVICES.
Exchanges via our Services cannot be canceled by Velo Trust. Therefore, check the details of your exchange details
before making such exchange. Velo Trust is not responsible for your crypto assets once they have been sent outside
of the Services. Moreover, Velo Trust doesn’t guarantee the uptime of the exchange.
12. No Offer of Securities
Velo Trust takes all possible measures to integrate and exchange those digital coins and digital tokens and other
types of digital mediums of exchange only that cannot be classified as “security“ by SEC or other competent
The responsibility for the fact that the crypto asset cannot be treated as “security“ lies with the owner of digital
token and/or digital coin. Velo Trust reserves the right at its sole discretion to prohibit and discontinue any
exchanges (as well as any other type of transaction) with the token or the coin if there is any risk or speculations
that such token and/or coin can be treated as “security“.
We follow the best practices to decide whether crypto assets are security or not. However, for the avoidance of any
doubt the provisions of this clause shall not constitute or deemed to be construed to constitute any warranty
and/or investment, financial, legal or any other professional advice, that any crypto asset that any crypto asset
available through our Services is not a security.
13. Termination of the Terms
We reserve the right to terminate these Terms and delete your Velo Trust Account and registration (including your username
and password) in the following cases:
If for any reason We decide to discontinue to provide the Service, by providing at least a 3 (three) calendar
days’ notice (which shall be provided by e-mail);
If We believe that you have breached any of the terms of these Terms, immediately without notice;
If We decide to terminate our Services, immediately without notice.
Velo Trust may suspend or terminate your account or use of the Services, or the processing of any crypto asset transaction,
at any time if it determines in its sole discretion that you are accessing the Services from a Restricted Location or
14. Applicable Law; Arbitration
You and Velo Trust agree to arbitrate any dispute arising from these Terms or your use of the Services, except for
disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks,
trade names, logos, trade secrets or patents.
You and Velo Trust agree to notify each other in writing of any dispute within thirty (30) days of when it arises.
Notice to Velo Trust shall be sent to email@example.com.
Any dispute, controversy, difference or claim arising out of or relating to the Terms, including the existence,
validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual
obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered
by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force
when the Notice of Arbitration is submitted.
The law of this arbitration clause shall be Hong Kong law.
The seat of arbitration shall be in Hong Kong.
The number of arbitrators shall be one. The arbitration proceedings shall be conducted in English language.
Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that
would otherwise be available in court. Any dispute between the parties will be governed by these Terms and the laws
of Hong Kong, without giving effect to any conflict of laws principles that may provide for the application of the
law of another jurisdiction.
Whether the dispute is heard in arbitration or in court, you will not commence against Velo Trust a class action,
class arbitration or representative action or proceeding.
These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the
parties regarding the Services.
In the event of any conflict between these Terms and any other agreement you may have with Velo Trust, the terms of
that other agreement will prevail only if these Terms are specifically identified and declared to be overridden by
such other agreement.
Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver
The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other
of these Terms, all of which shall remain in full force and effect.
You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from
Velo Trust, including by operation of law or in connection with any change of control. Velo Trust may assign or
transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
Velo Trust may establish this Agreement for current or future affiliated companies and for interested successors. Velo Trust may also delegate certain Velo Trust rights and responsibilities under this Agreement to independent contractors or other third parties.
Revised December 21st, 2021.
If you have any questions about these Terms, please