1.1. This User Agreement (hereinafter referred to as the Agreement) governs the procedure and terms of services on Matbea (hereinafter referred to as the Platform). The Agreement shall be deemed made on the terms of a public offer accepted by the User upon registration on the Platform. Current users shall accept the Agreement upon the first authorization on the Platform after the agreement has been published.
1.2. The Platform is a hardware and software product enabling its users to exchange electronic assets of one type (hereinafter referred to as EA) for another. EA include both crypto-currencies and tokens of the Platform itself (herein after referred to as Tokens). The Agreement is a legally binding agreement between the User and the Platform, and its subject matter is delivery of services involving the use of Website and its tools to the Users (hereinafter referred to as the Services). All special documents governing the provision of the certain Platform services and posted in the relevant Platform sections in the Internet shall be an integral part of the Agreement.
1.3. The Agreement may be changed by the Platform unilaterally without any special notice. The Agreement is a public and generally available document. The Users are recommended to regularly check the terms and conditions of this Agreement for its amendment and/or supplement. The use of the Platform after the making of amendments and/or supplements to the Agreement shall mean consent to and acceptance of such amendments and/or supplements by the User. The provision of personal data in any form whatsoever by any legal entity or individual, and commission of any other actions making it possible to judge about acceptance of the Agreement including but not limited to the use of the Platform resources, payment for the Platform services, etc., shall be a complete and implicit acceptance of the Agreement. The said entity or individual shall become another Party to the Agreement – the User immediately after the acceptance of the Agreement in any form whatsoever. The acceptance of the Agreement shall mean the User’s consent to all the terms and conditions thereof and shall be equal to the making of the Agreement on conditions provided for hereby. The Agreement shall be an official document and published in the Internet information & and communication network on the Platform.
1.4. Any Platform user may acquire EA form other users on conditions agreed upon by the parties. The Platform shall provide for only technical support of transactions between the users. Settlements with fiat currency shall be made between the users directly according to their mutual agreements and in convenient ways.
1.5. The Platform users may include both individuals and legal entities. There are two levels of the Platform users. The 1st level requires minimum data for registration. Users of the 1st level may acquire Platform Tokens from other users and exchange Tokens for crypto currencies. The 2nd level requires complete checkup of the Platform security service and an interview. Apart from the 1st level capacities the 2nd level users may acquire Tokens from the Platform for EA and sell them to other users for the fiat currency.
1.6. Tokens can be bought through the Platform. The Users willing to acquire or to sell Tokens shall file an application via their own profile. The Platform shall thereafter show them the price of the deal they can make with another user. If the price is suitable, the Users shall make a deal. The Users shall make direct settlements with each other using fiat currency independently from the Platform.
1.7. The Platform does not store the fiat currency; it only provides a possibility for placement of EA on the Platform.
2.1. The terms used in the Agreement shall have the following meaning:
Blockchain is an integral part of any crypto currency. Blockchain is a register containing the complete history of operations (transactions) with crypto currency and other information. Blockchain is generally accessible; anybody may download it from special units supporting operation of crypto currency.
Entering User is a Platform User willing to acquire EA.
Withdrawing User is a Platform User willing to sell EA.
Crypto Currency is software, blockchain, and a decentralized single-rank network supported by users worldwide and having no any control center. Crypto currencies: Bitcoin, Litecoin, Dash, Zcash and many others.
User means legal entities and individuals registered in the Platform and having their own personal account; they use the Platform and commit any actions whatsoever to use the Platform and commercial services by means of viewing the resource, registration, payment for commercial services, etc.
Platform is a matbea web-Platform (the primary website and secondary ones), and software for OC Android and iOS, providing for the Users’ access to the Platform services, and all sub-domains of these websites.
Token is a unit, which is not a crypto currency and used solely within the Platform.
Services are the Platform services provided by any Users of the website under the terms of the Agreement and other documents governing the procedure and terms of services provision.
Fork means the use of the code base and of the basic crypto currency blockchain as a start for the new crypto currency, which is fork. Each such fork may evolve independently from the main project, and possibilities, which the basic crypto currency goes without, may be implemented in one fork, while both the fork and crypto currency have identical operation history until the fork evolves. We can name a few bitcoin forks - Bitcoin cash, Bitcoin gold, Bitcoin diamond, Bitcoin super and many others, which may appear in future.
2.2. The Agreement may contain the terms, which are not defined in this section. If this is the case, such term shall be interpreted in accordance with the wording of the document. In case there is no univocal interpretation of such term in the wording, you shall have to rely on the interpretation defined on the Platform first, and on the language commonly used in the Internet second.
The subject matter of the Agreement in relations with the Platform Users – individuals shall be chargeable use of the Platform resources for personal advantage on the terms of the Agreement. The terms of work with the Users-legal entities shall be established by means of an individual agreement between the Platform and such User.
It is forbidden to use the Platform and its information resources for commercial purposes, and to copy and distribute information posted on the Platform for commercial purposes in case there is no relevant agreement with the Platform.
4.1. The Platform may provide the following services:
4.2. The exchange rate shall be defined by the Platform.
4.3. The approximate exchange rate shall be specified in the User’s profile. The exact exchange rate shall be defined solely upon completion of the exchange.
5.1. The Platform shall:
5.2. The Platform shall be entitled to:
6.1. The User shall guarantee that:
6.2. The User shall:
6.3. The User shall be entitled to
7.1. The User may always refer to the current information, to-wit: the list of EA used in operations on the Platform, the cost of services, amount of commission fees and bank organizations’ tariffs. This information is always updated on the Platform and available to all users.
8.1. The User shall use the Platform in the form it is presented, at his/her own risk. The Platform does not guarantee an achievement of any results due to its use, to the User. The Platform warns the User that the cost of Crypto currencies is solely defined by the participants’ trust, and exchange operations may lead to both reduction and increase of the User’s capital. The Platform bears no liability for the losses incurred by the User as a result of the purchase/sale/exchange of EA.
8.2. The Platform does not guarantee that the software and hardware product will meet the User’s requirements. Errors revealed on the Platform’s side may be rectified, which is not guaranteed by the Platform, and may not serve as a ground for holding the Platform liable hereunder.
8.3. The User shall be independently liable for safety and confidentiality of registration data (login, password, pin code, etc.). All actions relating to the purchase, sale and exchange of EA using the User’s login and password shall be deemed performed by the user, who shall be independently liable for actions performed using his/her login and password.
8.4. Under no circumstances the Platform shall be liable hereunder for:
8.5. The Parties shall be released from liability for partial or complete failure to perform their obligations under the Agreement, if such failure has resulted from force-majeure events, which occurred after the User became a party to the Agreement, or from extraordinary events, which the Parties could have neither foreseen, nor prevented by reasonable means.
8.6. The force majeure events shall mean events beyond the Party’s control, and the Party cannot be held liable in case of their occurrence. Such events include, but are not limited to, the war, rebellion, strike, earthquake, flood and other natural disasters, fire, power delivery failure, software and hardware errors and failures, actions and acts of the government agencies passed after the signing of the Agreement and rendering fulfillment of the Agreement obligations impossible, as well as other unforeseen circumstances and events and phenomena beyond the parties’ control.
8.7. The User shall be completely liable for compliance with all the law requirements, including but not limited to the tax, criminal and civil law in respect of all actions and operations involving the use of the Platform.
8.8. The Users making transactions by means of the Platform at the expense of the third parties’ funds at their disposal shall be exclusively liable to such third parties for such funds. The Platform shall not be a party to such transaction, nor shall it be liable to the third parties for the fulfillment of any obligations to them by the User, or be a party to disputes, which may arise out of such obligations.
9.1. To protect the Users against possible frauds and to prevent legalization of cash funds received through crime the Platform shall reserve a right to suspend suspicious activity of the User and to restrict the user account for verification.
9.2. In case the User infringes the terms and conditions of the Agreement and performs suspicious operations including an attempt to deceive other Users and/or the Platform, the Platform shall be entitled to terminate the Agreement unilaterally and cancel any operations whatsoever including replenishment, withdrawal and exchange of funds. The User shall be notified of the Agreement termination after such termination has been accomplished unilaterally upon the initiative of the Platform. Together with the notification of the User, all funds belonging to him are blocked in an amount equal to the amount of those funds within his balance in the user's wallet at the time of notification, including funds that belonged to the User before he violated the terms of the Agreement and / or took actions aimed at deception other users and / or the Platform. Funds are blocked for the duration of the entire proceedings. If, in the course of the proceedings, suspicions of a violation by the User of the terms of the Agreement and / or taking actions aimed at deceiving other users and / or the Platform are not confirmed and / or refuted, the funds belonging to him are returned to the User in an amount equal to the amount of those funds, within the limits of his balance in the user's wallet that belonged to the User before the start of the proceedings, including funds, the receipt of which could provoke the blocking, minus the commission and other costs incurred by the Platform.
9.3. The User and/or his/her account may be deleted by decision of the Platform without explaining the reason. However, the funds on the User’s account shall be returned to the User in full exclusive of the overhead costs (commission fees).
9.4. All disputes and disagreements relating to the operations performed by the Users on the Platform shall be settled within the shortest period, with the simultaneous application of efforts by all the parties involved.
9.5. In case of a dispute between the Platform Users it shall be settled as follows:
9.6. The user is aware that the software and hardware errors influencing the increase or reduction of the current EA exchange rate, and the erroneous write-off and crediting of cash funds are considered equivalent to the force majeure events and entail suspension of all the User’s operations carried out after the occurrence of the said errors, and also entail blocking of the User account until recovery of the software failure. If this is the case, the funds owned by the User shall be returned to him/her in the amount equaling the amount of funds owned by the user before the software and hardware error occurred, within the balance of funds in the user’s wallet.
9.7. The user is aware that the Platform Administration does not support any forks of Bitcoin or any other crypto currency. The Platform Administration supports only the main (basic) crypto currency. Hash rate is among the criteria of the fork difference from the basic crypto currency (Bitcoin or other): the fork always has lower hash rate, than the basic crypto currency.
9.8. The User is also aware that the Platform does not add the forks of Bitcoin or other crypto currency to the user’s account, nor does it add any compensation for the forks. The Platform is an owner of all forks and can dispose of them at its own discretion.
9.9. In case of a refund a commission fee in the amount of 5% of the refund amount shall be withdrawn, as well as the amount of all costs or losses incurred by the Platform.
10.1. To protect the Users against possible frauds and to prevent legalization of cash funds received through crime the Platform shall be entitled to, at its own discretion, request the User to submit other documents confirming legal ownership of cash funds.
Updated date April 18, 2020.