In response to the scale and effect of money laundering, many countries has passed legislation designed to prevent money laundering and to combat terrorism. Our industry is currently unregulated and does not fall within the scope of the AML/KYC obligations but we have put in place systems and procedures that meet the Worldwide AML/KYC legislation.
The Coinrapid AML Policy is designed to prevent money laundering by meeting the Belize AML legislation obligations including the need to have adequate systems and controls to mitigate the risk of being used to facilitate financial crime
Coinrapid insists on a comprehensive and thorough KYC and AML compliance framework. This includes monitoring of suspicious transactions and obligatory reporting to local regulators and other compliance bodies
Coinrapid reserves the right to refuse registration to persons from jurisdictions that do not meet international AML standards.
Coinrapid reserves the right to carry out customer diligence verification of its users and their transactions. Enhanced customer review will be carried out periodically as part of our ongoing risk assessment. In addition to this, any attempt to abuse Coinrapid or its platform will result in immediate account suspension and reporting violations to respective authorities.
Registered members will be required to verify their identity in line with Coinrapid KYC policy. This includes submission of both government ID and proof of address. Valid ID includes a passport, national card, or driving license. Valid proof of address includes utility and rates bills not older than 3 months. Other forms of ID and address verification will not be accepted. Your account will be unverified until account validation has been completed.
Coinrapid is prohibited from transacting business with individuals, companies and countries that are on prescribed Sanctions lists. Coinrapid will therefore screen against United Nations, European Union, UK Treasury, Belize Treasury and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.
These Terms apply, should you choose to use our services. If you decline to enter into agreement with Coinrapid you are not liable to comply with these Terms, consequently you are not eligible to use our services.
These terms and Conditions are subject to change periodically. You will be notified of any changes made by posting the updated Terms on our website. Any amendment of Terms and Condition become effective and applicable 14 days after the amendment is posted. Changes addressing new functions of Coinrapid Services or changes made for legal reasons are effective immediately. Your use of the Services following the effective date of such changes constitutes your acceptance of such changes. You must discontinue using our services if you do not agree to any amended Terms.
Coinrapid provides premium services for which a fee is charged. The fees described below apply to the following services:
Coinrapid cannot and does not guarantee the value of bitcoins. You acknowledge and agree that the value of bitcoins is highly volatile and that buying, selling, and holding bitcoins involves a high risk. In addition, bitcoin consensus network is solely responsible for verifying and confirming proposed transactions that you submit via the Services, and Coinrapid cannot confirm, cancel, or reverse bitcoin-to-bitcoin transactions. However, Coinrapid is responsible for confirmation of bitcoin network's completion of a transaction.
Bitcoin network is operated by a decentralized network of independent third parties. Once a transaction request is submitted to bitcoin network via the Services, bitcoin network will automatically complete or reject the request and you will not be able to cancel or modify transaction request in progress.
You acknowledge and agree Coinrapid is not responsible for any errors or omissions that you make in connection with any bitcoin transaction initiated via the Services. The Services help you submit your bitcoin transaction request for confirmation to the bitcoin network. Coinrapid has no control over the bitcoin network and cannot ensure any transaction request you submit via the Services will be completed.
You acknowledge and agree that the transaction requests you submit via the Services may not be completed, or may be substantially delayed, by the bitcoin network. When you complete a transaction request via the Services, you authorize us to submit your transaction request to the bitcoin network in accordance with the instructions you provide via the Services.
Coinrapid retains all right, title, and interest (including all copyright, trademark, patent, trade secrets, and all other intellectual property rights) in our Services and all content on our Services, including our trademarks, service marks, designs, logos, URLs, and trade names that are displayed on our Service. We refer to in these Terms, collectively, as the Coinrapid.
We hereby grant you a limited, nonexclusive, and non-sub licensable license to access and use the Coinrapid Materials for your personal or internal business use. Such license is subject to these Terms and does not permit any resale of the Coinrapid Materials, distribution, public performance or public display, modification or making any derivative use of Coinrapid Materials, or any portion thereof use of the Coinrapid Materials other than for the intended purposes.
The license granted under this Section will automatically end if we suspend or terminate your access to the Services. We will own exclusive rights, including all intellectual property rights, to any feedback, suggestions, ideas or other information or materials regarding Coinrapid or any other services provided by Coinrapid, whether by email, posting through our Services or otherwise, referred to in these Terms as Feedback. Any Feedback you submit is non-confidential and will become the sole property of Coinrapid. We will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you. You may not use, copy or retransmit anything on our website without our permission. We reserve all rights not expressly granted herein.
You are permitted to use our Services, only as we have authorized. You are responsible for ensuring personal information in your account profile is current and correct, including your email address and mobile phone number. You are also responsible for maintaining adequate security, control and confidentiality of your account information, including any personal identification numbers (PINs), passwords, API keys or other codes associated with your account and any activity occurring within that account. The loss or compromise of this information may result in unauthorized access of your account, which may result in loss or theft of any bitcoins held in your account.
If you believe your account has been compromised, report the matter to security immediately the incident of any such operational problems occurs. Please contact us immediately at firstname.lastname@example.org describing the issue at hand as thoroughly as possible including the date, type of problem and part of the Coinrapid site or Coinrapid Services in question of the problem. You are responsible to (i) immediately notify us of any unauthorized use of your password or account or any other breach of security, and (ii) ensuring that you exit from your account at the end of each session when accessing the Coinrapid Services. We have no responsibility for any loss you incur as a result of failing to comply with the instructions outlined in this section or your failure to follow or act on any notices or alerts that we may send to you.
You must provide a valid mobile phone number to be able to use Coinrapid Services. This number is used as part of the authentication process. You agree to receive SMS/text messages from us as part of using the Coinrapid Services. Please note that while we do not charge you for SMS/text messages, your mobile standard messaging rates apply. Failure to provide a valid mobile phone number may result in restriction of your use of the Coinrapid Services. If Coinrapid suspects that your mobile number is invalid or that you are using a VOIP service to circumvent the requirement in providing a valid mobile phone number, Coinrapid may suspend or otherwise restrict your use of the Coinrapid Services.
Coinrapid reserves the right in its sole discretion not to open accounts, temporarily or permanently suspend accounts, including where required or recommended by applicable governmental, regulatory or law enforcement requirements. Coinrapid Services are solely used by registered account holders. You agree that the information you provide to Coinrapid during the account creation and any subsequent identification verification processes is accurate and complete, and will be updated from time to time as need be. You are not authorized to use the Coinrapid Services, if you are under 18 years of age.
You agree that you will not use Coinrapid Services to perform any type of illegal activity or take in any action that negatively affects the performances of the Coinrapid Services. You may not engage in any of the following activities via the Services, nor help a third party in any such activity: (1) attempt to gain unauthorized access to our Services or another user's account, (2) make any attempt to bypass or circumvent any security features, (3) violate any law, statute, ordinance, or regulation, (4) reproduce, duplicate, copy, sell or resell our Services for any purpose except as authorized in these Terms, (5) engage in any activity that is abusive or interferes with or disrupts our Services.
If you are blocked by Coinrapid from accessing the Coinrapid Services (including by blocking your IP address), you agree not to implement any measures to circumvent such blocking (e.g., by masking your IP address or using a proxy IP address). Use of our Services in connection with any transaction involving illegal products or services is prohibited. Coinrapid reserves the right to temporarily or permanently suspend your account or otherwise restrict your use of Coinrapid Services if any violation of this section occurs.
Coinrapid and the Coinrapid logo are our registered trademarks or service marks. Any other trademarks mentioned in our website or mobile apps are the property of their respective owners.
Coinrapid does not act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by Coinrapid is for general information only. You are solely responsible for determining whether any contemplated transaction is appropriate for you.
You agree to indemnify, defend and hold our employees, agents, consultants, subsidiaries, partners, affiliates, and licensors, harmless against any and all claims, costs, losses, damages, liabilities, judgments and expenses (including reasonable fees of attorneys and other professionals) arising from or in any way related to your use of our Services, violation of these Terms or rights of any other person or entity.
IN ADDITION, YOUR ACCESS TO, DISPLAY, USE OF THE SERVICES, OR WITH DELAY OR INABILITY TO ACCESS, DISPLAY OR USE THE SERVICES, ANY COMPUTER VIRUSES, INFORMATION, SOFTWARE, LINKED SITES, PRODUCTS OR SERVICES OBTAINED THROUGH THE SERVICES, OR THE ACT OR OMISSION OF ANY BUSINESS USING OUR SERVICES OR OTHER THIRD PARTY, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON BREACH OF CONTRACT, BREACH OF WARRANTY, (INCLUDING NEGLIGENCE), PRODUCT LIABILITY OR OTHERWISE, AND WHETHER OR NOT WE, OUR LICENSORS, SERVICE PROVIDERS OR SUBCONTRACTORS HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
SOME JURISDICTIONS DO NOT ALLOW CERTAIN WARRANTY DISCLAIMERS OR LIMITATIONS ON LIABILITY. ONLY DISCLAIMERS OR LIMITATIONS THAT ARE LAWFUL IN THE APPLICABLE JURISDICTION WILL APPLY TO YOU. OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW.
If for any reason a court of competent jurisdiction finds any provision of these Terms invalid or unenforceable, that provision will be enforced to the maximum extent permissible and the other provisions of these Terms will remain in full force and effect.
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.
You and Coinrapid agree to arbitrate any dispute arising from these Terms or your use of our 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. ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Coinrapid agree to notify each other in writing of any dispute within thirty (30) days of when it arises.
Notice to Coinrapid shall be sent to email@example.com
You and Coinrapid further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in Belize; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of Belize. 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 Belize, 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 AND Coinrapid WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.
To the extent allowed by applicable law, you agree that you will bring any claim or cause of action arising from or relating to your access or use of our Services within two years from the date on which such claim or action arose or accrued or such claim or cause of action will be irrevocably waived.
Under applicable law, after a specified period of inactivity by you with respect to your Coinrapid account, Coinrapid may be required to report and/or remit any bitcoins it is holding in custody for you in accordance with unclaimed property laws.
Our failure to exercise or enforce any right or provision of these Terms will not constitute a waiver of that right or provision.
Coinrapid may assign these Terms to its parent company, affiliate or subsidiary, or in connection with a merger, consolidation, or sale or other disposition of all or substantially all of its assets. These Terms, constitute the entire exclusive agreement between us and you regarding its subject matter, and supersede and replace any previous or contemporaneous written or oral contract, warranty, representation or understanding regarding its subject matter.
It is your responsibility to determine, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority, regardless of jurisdiction. Coinrapid is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction, to you or any taxation, governing or third authority.
Trading Bitcoins, virtual currencies and virtual commodities carries a high level of risk, and may not be suitable for everyone. Before deciding to buy or sell these instruments you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose.
You should be aware of all risks associated with virtual commodities, and seek advice from an independent financial adviser should you have any doubts. Furthermore, there may be risks that are not disclosed in our Terms.
You should use extreme consideration and be conscious of assessing your financial situation and tolerance for risk before engaging in activities involving the trading of virtual commodities.
Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. Coinrapid will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
There are risks associated with utilizing Internet-based deal execution trading system including, but not limited to, the failure of hardware, software, and Internet connection. Coinrapid does not control the reliability or availability of the Internet. Coinrapid cannot be responsible for communication failures, distortions or delays when trading via the Internet.
Coinrapid is a project of Rapid Technologies International Limited located at New Horizon Building, Ground Floor,
3 1/2 Miles Philip S.W. Goldson Highway, Belize City, Belize
The content on this website is subject to change at any time without notice. Coinrapid has taken reasonable measures to ensure the accuracy of the information on the website. However, Coinrapid does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through website.
Last updated: March 13, 2019
Coinrapid is a legal organization which endeavor’s to ensure all of its policies and procedures are fully compliant with GDPR (General Data Protection Regulation 2016/679) requirements. We also endeavor to treat your privacy concerns very seriously.
Coinrapid shall mean and include below –
Rapid Technologies International Limited located at New Horizon Building, Ground Floor, 3 1/2 Miles Philip S.W. Goldson Highway, Belize City, Belize, , which owns and operates the ‘Coinrapid or “company”, which term shall refer to and include its owners, its subsidiaries and affiliated companies, directors, investors, employees, officers, representatives, affiliates, or other related parties.
Coinrapid is committed to ensuring the safety and protection of all data and information shared with Coinrapid by its Users in accordance with GDPR, Applicable Laws and the terms and conditions set out hereunder and processes established by Coinrapid in compliance with the applicable reasonable security practices and procedures, prescribed by Government or Regulatory authorities, as the case may be.
Coinrapid shall not be liable for any breach or violation of its systems or policies due to malicious attacks, errors, commissions or omissions not wilfully initiated by Coinrapid, leading to breach of data or information of User.
How to contact Coinrapid for data protection inquiries:
Coinrapid may collect required personal data and information of the User to provide its services. Use of the Coinrapid Platform is contingent upon acceptance of the terms and conditions contained herein. User shall be deemed to have volunteered the data and information collected, retained, used and disseminated by Coinrapid, upon accepting the terms herein and those contained in the Terms of Service and User agreement of Coinrapid.
Coinrapid processes your personal data and information of the User in accordance with the guidelines laid by GDPR regulations. GDPR Defines Personal Data as “personal data’ means any information relating to an identified or identifiable natural person (‘data subject’); an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person;
Coinrapid collects your personal information to provide our Services. Coinrapid ensures that your personal data is processed lawfully, fairly and in a transparent manner and is collected for specified, explicit and legitimate purposes shared with you. Any information you provide to us that is not required, is voluntary. You are free to choose whether to provide us with the types of personal information requested, but we may not be able to serve you as effectively or offer you all our Services when you do choose not to share certain information with us. We may collect the following types of information provided / shared by the User as applicable for
Depending on the purpose of our processing activity, the processing of your personal data will be based on one of the following:
Coinrapid may collect, use and share aggregated data to create anonymized statistical data. Coinrapid may provide this statistical data to its business partners or third parties.
Aggregated Data may be derived from your personal data but is not considered personal data in law as this data does not directly or indirectly reveal your identity. For example, we may aggregate your Usage Data to calculate the percentage of users accessing a specific website / app feature.
You are entitled to inform Coinrapid at any time that your personal details have changed or otherwise request erasure of your personal data by emailing customer support at support@Coinrapid.com
We will only retain your personal data for as long as necessary to fulfil the purpose for which we have collected it, including for the purposes of satisfying any legal, accounting or reporting requirements.
To determine the appropriate retention period for personal data, we consider the amount, nature and sensitivity of the personal data, the potential risk of harm from unauthorized use or disclosure of your personal data, the purposes for which we process your personal data and whether we can achieve those purposes through other means and the applicable legal requirements.
By law we have to keep basic information about our customers (including contract, identity, financial and transaction data) for ten (10) years after they cease being customers for online trading purposes.
In some circumstances we may anonymize your personal data (so that it can no longer be associated with you) for research or statistical purposes in which case we may use this information indefinitely without further notice to you. When you use this website or other services we provide to you, you may be able to link to other third-party websites, plug-ins and applications.
Coinrapid protects your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations.
The retention period may be extended to comply with legal obligations, resolve disputes, and enforce agreements for a period of ten(10) years after termination of the account or such period, under applicable laws. Coinrapid may retain data for further periods but is not obligated to do so in all instances. Coinrapid shall not be liable or responsible for non – availability or non – retention of data or information beyond the termination of the User account.
The retention period may extend beyond the end of User account, but it will be only as long as it is necessary for Coinrapid to have sufficient information to respond to any issues that may arise later, including but not limited to retention for the purpose of investigations or ongoing prosecutions or in case of Suspicious transactions or if Coinrapid requires the information for its records or to support legal proceedings, or if Coinrapid believes in good faith that a law, regulation, rule or guideline requires it.
Please note that Coinrapid cannot guarantee that loss, misuse, unauthorized acquisition, or alteration of your data will not occur and you play a vital role in protecting your own personal information. users while registering with Coinrapid Platform, it is important to choose a password or PIN of sufficient length and complexity, to not reveal this password to any third-parties, and to immediately notify us if you become aware of any unauthorized access to or use of your account
Subsequently, Coinrapid cannot ensure or warrant the security or confidentiality of information you transmit to us or receive from us by Internet or wireless connection, including email, phone, or SMS, since we have no way of protecting that information once it leaves and until it reaches us. If you have reason to believe that your data is no longer secure, please contact us at firstname.lastname@example.org. Coinrapid however takes all reasonable steps to secure data and information pertaining to its Users, including those prescribed under applicable laws and Rules framed thereunder.
We will keep information about visitors to our websites (not being customers) for a reasonable length of time, which lets us understand how people use our website and any technical issues they have.
We try to respond to all legitimate requests within one (1) month. Occasionally, it may take us longer than a month if your request is particularly complex or you have a number of requests. In this case, we will notify you and keep you updated.
You have a right to make a complaint at any time to the Office of the Information and Data Protection Commissioner (“IDPC”), the Maltese supervisory authority for data protection issues. We would, however, appreciate the chance to deal with your concerns before you approach the IDPC so please contact us or our DPO in the first instance at the email specified above.
The User shall ensure that all data and information shared with Coinrapid is accurate, correct and complete. User shall ensure that change of the User’s address or any change in circumstances impacting use of the Coinrapid Platform, is promptly communicated to Coinrapid.
Coinrapid will not be held liable or responsible for any incorrect information provided by the User to Coinrapid.
User may, upon termination of the use of the Coinrapid Platform, as provided in the Terms of Service, withdraw consent granted herein to Coinrapid. The same shall however not affect actions undertaken or data and information collated, or technological processes initiated prior to such withdrawal of consent. Such withdrawal of consent shall also not affect retention of data and information collected prior to such withdrawal.
Whenever we transfer your personal data out of the EEA, we ensure a similar degree of protection is afforded to it by ensuring at least one of the following safeguards is implemented:
European Economic Area (EEA Residents) have the following rights, which can be exercised by contacting us email@example.com that we may consider your request under applicable law.
All other provisions of the Coinrapid Terms of Service and user agreement shall be read along with this policy and shall form part hereof, including Governing Laws and jurisdiction, notices, severability, assignment and such or other provisions.
If you have questions, please contact our Data Protection Officer (DPO) at: firstname.lastname@example.org