Terms & Conditions
These Terms and Conditions (‘Terms’), set out the terms by which UAB Worldwide independent exchange (also referred to as ‘WIEX’ ‘We’, ‘Us’ or ‘Our’) agrees to provide the User (also referred to as ‘You’ or ‘Your’) with access to the Services. By accessing and using the Services, You are entering into a legally binding contract, with the waiving of certain legal rights, with Us on the basis of these Terms. WIEX provides the Terms that apply to the Users and governs each User’s access to, and use of, the Services and related products including but not limited to software, programs, documentation, tools, hardware, internet-based services, components, and any updates (including software maintenance, service information, help content, bug fixes or maintenance releases) provided to You by WIEX, directly or indirectly, through all online services WIEX provides.
By accessing and using the Services You agree that You have read, understood, and accept all of the Terms. If You do not agree or fail to adhere to the Terms or any other rules of any of the Services, You are not entitled to use the Services.
Accepting these Terms is a condition to use the Services. Refusal to accept the Terms shall preclude the User from using the Services. All Users are obliged to observe these Terms. WIEX reserves the right to update the Terms at any time, at its sole discretion. In case of any changes, WIEX will change the date of the last update at the beginning of the Terms. By continuing to use the Services following the release of updated Terms, the User consents to the updated Terms. WIEX invites the User to check this page regularly for updates to the Terms.
1.1. Risks associated with Cryptocurrencies
Before using the Services of WIEX, the User must carefully consider whether purchasing or holding Cryptocurrencies is suitable for the User in the light of the User's financial situation and knowledge regarding the Cryptocurrencies that the User is interested in. Purchasing or holding Cryptocurrencies entails a substantial risk of loss and the value of Cryptocurrencies is subject to extreme volatility.
If the User are in any doubt as to the actions they should take, WIEX encourages the User to consult with a legal, financial, tax or other professional advisor(s). If any of the risks are unacceptable to the User, they should not use the Services.
The User hereby acknowledges and agrees that the User will access and use the Services at their own risk.
Capitalized terms shall have the meanings assigned to them in these Terms, unless the context requires otherwise.
‘Blockchain’ – a system in which records of transactions made in Cryptocurrencies are maintained across several computers that are linked in a peer-to-peer network.
‘Conversion Rate’ – the price or exchange rate of one unit of a given supported Cryptocurrency whereby the price of the offered asset is determined by WIEX. Conversion Rate is derived from multiple factors, such as direct and indirect asset acquisition cost, market risk to which WIEX is exposed to while completing the transaction and liquidity providers used by WIEX. The User acknowledges that the Conversion Rate may be subject to change after placing an Order.
‘Cryptocurrency’ – a digital representation of value that does not possess a legal status of currency or money, that is not issued or guaranteed by a central bank or any other public authority, is not necessarily attached to a currency, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.
‘Fiat Currency’ – means the coin and paper money of a country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance.
‘Fiat Payments’ – payment method allowing Users to use the Services by using their credit or debit card or wire transfer with the fee described on the Website.
‘WIEX’ – UAB Worldwide independent exchange, a Lithuanian private limited liability company registered under registry code 306127000, with the address Vilnius, Lvovo g. 105, 2nd floor
‘Know Your Customer or KYC process’ – the process of identifying and verifying the User's identity and applying other due diligence measures when opening the Account and periodically over time. The User’s identity verification may be conducted using only the identity documents listed in the list of acceptable identity documents available on the Website.
‘Know Your Transaction or KYT process’ – the process of conducting transaction monitoring and screening of the Transactions.
‘Order’ – a request for the Services;
‘Services’ – services provided by WIEX to the Users.
‘Taxes’ ‒ taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction whatsoever.
‘Terms’ – these Terms and Conditions including all the chapters, as amended from time to time.
‘Wallet’ - Cryptocurrency wallet of the User, which can be accessed through the Website.
‘Wallet Address’ – an on-Blockchain address in which Cryptocurrencies can be held and transferred.
‘Website’ – website of WIEX located at https://wiex.io/.
3. The Services
The Services enable the User to make various transactions with Cryptocurrencies. In order to access and use the Services, the User must create an account with WIEX.
WIEX is exclusively entitled to decide on functionality, the use, subject matter and the range of the Services as well as to cease rendering the Services. WIEX is exclusively authorized to decide on the contents and the nature of the Services as well as to freely add, change, or remove particular elements.
The use of any new Services of WIEX, after the User has accepted these Terms shall be subject to its provisions.
3.1. Wallet Services
The Wallet Services allow the User to store, send and receive supported Cryptocurrencies. WIEX securely stores Wallets' encrypted private keys in WIEX’s control.
3.1.1. Withdrawals and deposits
The User may deposit Cryptocurrency to and withdraw Cryptocurrency from their Wallet. The Cryptocurrencies may be deposited from another Cryptocurrency wallet held by the User and also from a Cryptocurrency wallet not held by the user. Upon depositing Cryptocurrency to their Wallet, the User is responsible for ensuring that the chosen Cryptocurrency and network are supported by WIEX, otherwise the funds may be lost forever. We are not liable and shall not compensate the User for any losses or damages, if the User makes deposits with Cryptocurrencies and/or uses networks that are not supported by WIEX.
The User may withdraw Cryptocurrencies to another Cryptocurrency wallet held by the User and also to a Cryptocurrency wallet not held by the user. Upon withdrawal, the User is responsible for ensuring that the entered Wallet Address is correct and valid, otherwise the funds may be lost forever. Upon withdrawal, the User’s wallet must have sufficient balance for the transaction to be processed, including any fees applicable. We are not liable and shall not compensate the User for any losses or damages, if the User has provided an incorrect Wallet Address.
3.2. Exchange Services
The User may buy or sell supported Cryptocurrencies against supported Fiat Currencies by using Fiat Payments and exchange Cryptocurrencies against other Cryptocurrencies at the current Conversion Rate. To buy Cryptocurrencies using Fiat Payments, the WIEX will issue an invoice to the User, using which, the User can make a payment in the amount specified in the invoice to WIEX’s bank account. In a case the User does not pay the invoice within 24 hours from the date of its issuance, the User’s request for the purchase of Cryptocurrencies will be declined automatically. The bought Cryptocurrencies may only be sent to the Wallet held by the User accessible through the Website. The Fiat Currencies for the sold Cryptocurrencies may be only sent to the account owned by the User.
3.3. Inaccurate Data
WIEX is not responsible for any inaccuracy in the data provided by You. You are obliged to check all the information before submitting it to WIEX. Blockchain transactions are irreversible and WIEX will not be able to reverse any transactions already executed in case You made a mistake in the provided data or instruction.
3.4. Blockchain Data
Blockchain transactions are irreversible, and any information stored in the Blockchain will remain publicly viewable and immutable for an indefinite period of time. Your Blockchain address and certain data will be displayed permanently and publicly. You agree to relinquish any right of rectification or to the erasure of personal data, which is not possible on the Blockchain.
3.5. Use of third parties
We use third party exchanges and payment systems to settle Your Orders. We are not responsible or liable for any delay or errors made by them. We are also not responsible for the consequences of any limits set by Your or any third-party wallet providers.
3.6. Transaction settlements
Transactions are usually settled using Blockchain and online payment systems (for sending Fiat Currency). WIEX does not provide a settlement platform on its own and is not liable for any errors or delays in the functioning of settlement systems.
3.7. Limits on Orders
We may impose certain limits on the minimum or maximum amount and number of Orders You can enter into in a given time. We can set and change these limits at Our discretion.
3.8. Cancellations and restricting access to Services
Once You have placed an Order it cannot be cancelled or recalled by You. All Orders are final and cannot be refunded. You hereby agree that upon delivery, You will not be entitled to any credit or refund and all Orders are final.
WIEX reserves the right to unilaterally cancel the User’s Order or restrict User´s access to the Services if WIEX reasonably believes that User's use of the the Services is in violation of any applicable statutory requirements, agreements, or other legal obligations applicable to User, these Terms, and any other parts of the agreements User has concluded with WIEX.
WIEX reserves to right to charge and also not to charge any fees for the usage of the Services. The User hereby agrees to pay to WIEX the fees for the usage of the Services as set forth, published, amended, and updated from time to time by the sole discretion of WIEX.
You are responsible for complying with applicable law. You agree that WIEX is not responsible for determining whether or which laws may apply to Your transactions, including tax law. You are solely responsible to determine whether, and to what extent, any taxes apply to any transactions You conduct using the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.
We will make all reasonable efforts to let You know the Conversion Rate and applicable Fees for each transaction before You place an Order.
5. Eligibility Criteria
The Services offered by WIEX may only be used by You if You:
(a) are at least 18 years of age;
(b) have sufficient capacity to enter into legally binding contracts;
(c) are NOT a politically exposed person, a family member or a close associate of a politically exposed person;
(d) do NOT have Your citizenship or their legal place of residence in any country that is in the FATF black list;
(e) do NOT have Your citizenship or their legal place of residence in any country that is subject to sanctions, embargos or similar measures issued by the European Union or the United Nations;
(f) are NOT subject to jurisdiction(s), of which, any law(s) prohibit the person from using the Services;
(g) satisfy all of WIEX’s due diligence, KYC process and anti-money laundering requirements; and
(h) have not been previously suspended from using the Services.
6. KYC process
WIEX is obligated to conduct an identification verification (‘Know Your Customer’ or ‘KYC’) process to comply with all applicable anti-money laundering, sanctions and other relevant statutory requirements. WIEX reserves the right to limit the functionality of Services to the Users who have not passed verification. If the User refuses to provide required documents and information under KYC, WIEX reserves the right to immediately terminate the Services provided to the User and/or restrict the access to the Services.
WIEX may also carry out verification checks for certain transactions as requested by law. Carrying out those checks might increase the time it takes to process the User's transaction. WIEX shall not be held responsible for any delays because of carrying out such checks. WIEX shall not bear any losses or damages, direct or indirect because of delays when carrying out transaction checks.
The User undertakes to provide WIEX with correct and relevant documents and personal information contained therein. In case the User provides counterfeit documents and false personal information, such behavior will be interpreted as a fraudulent activity.
The User hereby authorizes WIEX to, directly or indirectly (through third parties), make any inquiries as WIEX considers necessary to check the relevance and accuracy of the information provided for verification purposes. WIEX may ask for additional information during the User experience to comply with anti-money laundering laws and regulations.
7. KYT process
WIEX will conduct KYT process on all transactions, including but not limited to the parties of the transactions, Cryptocurrency wallets related to the transactions and the funds used to make the transactions. During the KYT process, WIEX may request additional information about the transaction and/ or the User or other parties relating to the transaction to understand the purpose and nature of the transaction.
8. Term, termination and suspension
These Terms start when when You accept them and continue to apply until terminated by either You or WIEX.
These Terms will be of no further force and effect with respect to You if You cease all use of the Services and no longer visit the Website.
WIEX may, at any time and for any reason, cease providing any or all of the Services, and/or terminate the Terms. Without limiting the foregoing, We may also terminate Your access to any or all of the Services if You materially breach any provision of the Terms, or if WIEX is required to do so by law (e.g., where the provision of the Services is, or becomes, unlawful).
All provisions of the Terms which by their nature should survive termination of Services will do so.
WIEX shall not be liable for damages suffered by You arisen due to the suspension of Your access to and use of the Services or termination of these Terms, in case of reasons arising from the fault of the User.
9. Data protection
10. Intellectual property
The User explicitly acknowledges that WIEX is and remains the sole owner of the Website, the Services and/or other intellectual property rights relating thereto. The Website and all information, content, material, graphics, products, website addresses, and layouts and services included on or otherwise made available to the User through the Website are the exclusive property of WIEX and are protected under applicable law. All such rights and goodwill are, and shall remain, vested with WIEX.
You are not allowed to reproduce or store any part of WIEX, the Services or marks in any way without Our prior written permission which We may deny for any given reason.
The User undertakes to notify WIEX of any actual, threatened, or suspected infringement of any intellectual property rights of WIEX which comes to the User’s notice, and of any claim by any third-party due to use of the Services.
WIEX makes great efforts to guarantee the highest quality of its operations to ensure accessibility and continuity of Services in accordance with their use and purpose. However, no long-distance data transmission, guarantees 100% security, continuity, and accessibility of the Services.
THE WEBSITE AND SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS, WITH ALL FAULTS, AND WIEX EXPRESSLY DISCLAIMS ALL WARRANTIES, REPRESENTATIONS, AND CONDITIONS OF ANY KIND ARISING FROM OR RELATED TO THESE TERMS OR THE USER’S USE OF THE WEBSITE AND SERVICES INCLUDING THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THE USER ACKNOWLEDGES THAT, TO THE EXTENT ALLOWED BY APPLICABLE LAW, ALL RISK OF USE OF THE WEBSITE AND SERVICES RESTS ENTIRELY WITH THE USER.
IN NO EVENT WILL WIEX, ITS SUBSIDIARIES AND AFFILIATES, BENEFICIARIES, OWNERS, SHAREHOLDERS, MEMBERS OF THE BOARD, DIRECTORS, REPRESENTATIVES, ATTORNEYS, OFFICERS, MANAGERS, EMPLOYEES, AGENTS, SERVICE PROVIDERS AND CONTRACTORS BE LIABLE FOR ANY LOST PROFITS, REVENUE OR DATA, DECREASE IN VALUE OR BUSINESS OPPORTUNITY, INDIRECT, INCIDENTAL, SPECIAL, OR CONSEQUENTIAL DAMAGES, CORRUPTION OR BREACH OF DATA, OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR SIMILAR DAMAGES OR DAMAGES OR COSTS DUE TO LOSS OF PRODUCTION OR USE, BUSINESS INTERRUPTION, OR PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES ARISING OUT OF OR IN CONNECTION WITH THE AUTHORIZED OR UNAUTHORIZED USE OF THE SERVICES, WHETHER OR NOT WIEX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, AND REGARDLESS OF THE THEORY OF LIABILITY ASSERTED.
WIEX MAKES NO REPRESENTATIONS ABOUT THE ACCURACY, ORDER, TIMELINESS OR COMPLETENESS OF HISTORICAL OR CURRENT ELIGIBLE CRYPTOCURRENCIES PRICE DATA AVAILABLE THROUGH THE SERVICES. WIEX WILL MAKE REASONABLE EFFORTS TO ENSURE THAT ORDERS FOR TRANSACTIONS ARE PROCESSED IN A TIMELY MANNER BUT WIEX MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE AMOUNT OF TIME NEEDED TO COMPLETE PROCESSING (WHICH IS DEPENDENT UPON MANY FACTORS, INCLUDING THOSE OUTSIDE OF OUR CONTROL), AND WIEX SHALL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES WHICH YOU MAY INCUR AS A RESULT OF ANY DELAY IN THE PROVISION OF THE SERVICES.
12. Limited liability
To the fullest extent permitted by applicable law, You agree that under no circumstances shall WIEX its subsidiaries and affiliates, beneficiaries, owners, shareholders, members of the board, directors, representatives, attorneys, officers, managers, employees, agents, and contractors be liable for any direct, indirect or incidental damages, including but not limited to loss of profits, reputation, use and other non-pecuniary losses that arise in connection with (1) the Service, these Terms, or the inability to use the Service, (2) a statement, conduct or transaction with any member or third party on the Service, (3) Your use (or misuse) of the Services, or (4) any other matter relating with the Website and/or the Services.
12.1. Cap on Liability
Under no circumstances will WIEX be liable to the User for damages arising out of the Services exceeding the amount of 100 EUR or the amount the User has paid WIEX in exchange for accessing and using the Services, whichever is greater.
The limitations set above will not apply to damages caused by the gross negligence, fraud, or willful misconduct, or to the extent such limitations are precluded by applicable law (in which case liability will be increased to the minimum amount required to comply with such law).
The User agrees to indemnify WIEX its subsidiaries and affiliates, beneficiaries, owners, shareholders, members of the board, directors, representatives, attorneys, officers, managers, employees, agents, and contractors against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages incurred due to (1) the User’s use (or misuse) of the Services, (2) the User’s violation of these Terms, or (3) the User’s violation of other policies, guidelines or instructions of WIEX, or (4) the User’s violation of any applicable law, regulation, or rights of any third party during the User’s use (or misuse) of the Services.
The Terms are a contract between the User and WIEX. No other person shall have any rights to enforce any of its terms.
If WIEX does not immediately enforce these Terms, or if WIEX delays in taking steps against the User in respect of the User’s breach, WIEX can still do so later on.
In the case any provision in these Terms found to be unenforceable, that provision shall be severed with the remainder of these Terms remaining in full force and effect.
16. Entire agreement
This is the entire agreement between the parties and supersedes any other agreement, representations (or misrepresentations), or understanding, however, communicated.
17. Complaints resolution
In the event of an infringement of the User’s rights with respect to the Services, please send a complaint to [email protected]. The User shall have to apply to WIEX no later than within three months after the day when the User became aware or ought to have become aware of an infringement of their rights or lawful interests. All complaints will be examined and the User will be contacted as soon as possible, but not later than within 14 days.
17.1. User’s right to turn to the State Consumer Rights Protection Authority
In a case where WIEX has refused to resolve the User's complaint, or the User does not agree with the solution offered by WIEX and considers that the User’s rights have been violated or the User’s interests have been harmed, the User may lodge a complaint concerning with the State Consumer Rights Protection Authority of Republic of Lithuania.
18. Applicable legislation and disputes resolution
The legislation of Republic of Lithuania shall be applied to the Terms. Any court action between Genesis and the User shall be resolved in the Vilnius District Court which has exclusive jurisdiction for resolving disputes arising under the Terms.
19. Contact information
If You have any questions with respect to the Agreement or the Services please contact WIEX via contact form available on the Website or via email at [email protected] and a member of the WIEX support team will be happy to help You.