Terms of Use for XenPay

Last Updated Dec 24, 2024

Welcome to XenPay! . By accessing or using our services, you agree to the following Terms of Use. Please read them carefully before using the website or any services provided by XenPay

1. Acceptance of Terms

By accessing or using the XenPay website or services, you agree to be bound by these Terms of Use, as well as our Privacy Policy. If you do not agree to these terms, you must not use our website or services. We reserve the right to modify or update these Terms of Use at any time. Any changes will be posted on this page with a revised effective date. By continuing to use XenPay after such modifications, you agree to the updated terms.

2. Eligibility

To use our services, you must:

  • Be at least 18 years of age or the legal age in your jurisdiction.
  • Have the legal capacity to enter into contracts and agree to these Terms of Use.
  • Comply with all applicable laws, regulations, and local restriction

If you do not meet these eligibility criteria, you must refrain from using our services.

3. Account Registration

To use certain features of XenPay, you may be required to create an account. You agree to provide accurate, complete, and up-to-date information during registration and to update it if necessary.

You are responsible for maintaining the confidentiality of your account credentials and for all activities that occur under your account. Notify us immediately if you suspect any unauthorized use of your account.

4. Use of Services

XenPay provides a platform for the purchase, sale, and management of cryptocurrencies. You agree to use the services only for lawful purposes and in accordance with all applicable laws, including those related to cryptocurrency transactions, anti-money laundering (AML), and counter-terrorism financing (CTF).

You agree not to engage in the following prohibited activities

  • Fraudulent activities, including identity theft, money laundering, or funding illegal activities.
  • Using the platform for any illegal, harmful, or abusive purposes
  • Attempting to gain unauthorized access to any systems or networks related to XenPay.
  • Circumventing security measures or interfering with the operation of the website

5. KYC and Verification

While you can initially use XenPay’s services without completing the Know Your Customer (KYC) verification process, we require users to complete KYC once they exceed specific transaction thresholds.

  1. KYC Requirement Trigger

    You will be required to complete the KYC process if:

    1. You reach or exceed $10,000 in monthly transactions
    2. You make a single transaction or cumulative transactions that reach the threshold in a given month.

    Once this threshold is met, you will be unable to complete further transactions until you complete the KYC process. If you do not wish to complete the verification, you will be unable to conduct further transactions until the start of the next month, when your transaction limit resets.

  2. Information Collected for KY

    The KYC process requires you to provide certain personal information, including:

    1. Identity Documents: Passport, national ID, or driver’s license.
    2. Proof of Address: Utility bills, bank statements, or other documents verifying your address.
    3. Photographic Evidence: A selfie or a photograph of you holding your identification document.
    4. Additional Details: Date of birth, nationality, and other relevant information

  3. Purpose of KYC Data Collection

    The KYC data is used for:

    1. Verifying the identity of users to ensure platform security.
    2. Detecting and preventing fraudulent transactions and identity theft
    3. Complying with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations.

  4. Sharing and Protection of KYC Data

    The KYC data is used for:

    1. Secure Handling: All KYC data is encrypted and stored securely.
    2. Trusted Partners: We may use third-party service providers to process KYC data, ensuring compliance with international standards.
    3. Legal Disclosure: Your KYC data may be shared with regulatory authorities when required by law.

  5. Retention of KYC Data

    We retain KYC data for as long as necessary to comply with legal and regulatory obligations. After the required retention period, the data will be securely deleted or anonymized.

6. Transactions and Fees

By using XenPay, you agree to pay all applicable fees for transactions, conversions, and other services provided by the platform. These fees will be disclosed to you prior to completing a transaction.

We reserve the right to change our fees at any time, and such changes will be reflected on our website.

All cryptocurrency transactions are irreversible, and we are not responsible for any loss of funds due to user error, fraud, or unauthorized transactions.

7. Risk Acknowledgment

You acknowledge and understand that cryptocurrency transactions and investments carry significant risks, including market volatility, technological risks, and potential loss of funds. You agree to use the platform at your own risk and ensure that you are fully aware of the risks involved in trading and holding cryptocurrencies.
XenPay does not provide financial, investment, or legal advice. We recommend that you consult with a professional before engaging in cryptocurrency transactions.

8. Data Privacy and Security

We are committed to protecting your personal information in accordance with our Privacy Policy. While we take reasonable measures to protect your data, you acknowledge that no online system is fully secure, and you use our services at your own risk.

9. Termination of Account

We reserve the right to suspend or terminate your account and access to the services at our sole discretion if you violate these Terms of Use or if we believe your actions may harm the platform, its users, or violate applicable laws.
You may also terminate your account at any time by contacting our support team.
Upon termination, you must cease all use of our services, and any outstanding obligations, including payment of fees or charges, remain due.

10. Limitation of Liability

To the fullest extent permitted by law, XenPay, its affiliates, employees, and partners will not be liable for any direct, indirect, incidental, consequential, special, or punitive damages arising from your use of our platform, services, or content, even if we have been advised of the possibility of such damages.
Our total liability for any claim arising under these Terms of Use will be limited to the amount you paid to XenPay for the specific service or transaction in question.

11. Indemnification

You agree to indemnify and hold harmless XenPay, its affiliates, officers, employees, and agents from any claims, losses, liabilities, and expenses, including legal fees, arising from your use of the platform, violation of these Terms of Use, or violation of any law or third-party rights.

12. Governing Law and Dispute Resolution

These Terms of Use will be governed by and construed in accordance with the laws of Portugal. Any disputes arising from or related to these terms will be resolved through binding arbitration or as otherwise required by applicable law.

12. Contact Us

If you have any questions or concerns about these Terms of Use, please contact us: