[Last revised: 29 Nov 2018]
For more information on Binance, you can refer to the company and license information found on the website. If you have questions regarding this agreement, please feel free to contact Binance for clarification via our Customer Support team (https://support.binance.com/hc/en-us/requests/new).
By registering to use a Binance Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organization with full legal capacity to enter into this User Agreement between you and Binance. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Binance shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.
Prohibition of use
By accessing and using Binance and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list or OFAC (Office of Foreign Assets Control of the U.S. Treasury Department). Binance maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Binance maintains its stance that prohibited users are not to use or access Binance and any of its services.
Description of services
Binance provides an online digital asset trading platform (crypto to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. Binance does not provide fiat trading capabilities on its platform and as such is not subjected to the stringent regulations that come with it. Binance functions as a trading platform provider and is not a buyer or seller in trades made between traders. Binance is also not a market maker. Traders must register and open an account with Binance and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in the Terms and Conditions.
Binance strives to maintain the accuracy of information posted on its website however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content. Information on Binance website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. Binance does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of Binance must understand that there are risks involved in trading. Binance encourages all users to exercise prudence and trade responsibly within their own means.
While Binance emphasises platform security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. Binance reserves the right to cancel, rollback or block transactions of all type on its platform in event of abnormal transactions. Binance will not ask for any password from its users nor ask users to transfer funds that are not listed on its trading platform. Users are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that Binance will not be held responsible for any losses arising from the situations stated above.
By using Binance and any of its services, you declare that all information to Binance in connection with these Terms are true, accurate and complete.
Binance Account Registration & Requirements
User Identity Verification
With registration of an account on Binance, you agree to share personal information requested for the purposes of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Binance platform. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 5 years beyond account closing. You also authorise us to make inquiries, either directly or through third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud.
The Identity Verification information we request may include, but is not limited to, your: Name, Email Address, Contact Information, Telephone Number, Username, Government Issued ID. In providing this required information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Binance shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of Binance Service to you. You shall be solely and fully responsible for any loss or expenses incurred during the use of Binance Service if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obligation to keep all information provided up to date if there are any changes.
Account Usage Requirements
Binance accounts can only be used by the person whose name they are registered under. Binance reserves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Accordingly, Binance will not take legal responsibility for these accounts.
Binance prioritizes maintaining the safety of those user funds entrusted to us and has implemented industry standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. We request that you understand the need to independently take safety precautions to protect your own account and personal information.
You shall be solely responsible for the safekeeping of your Binance account and password on your own, and you shall be responsible for all activities under your log-in email, Binance account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).
You hereby agree that: (a) you will notify Binance immediately if you are aware of any unauthorized use of your Binance account and password by any person or any other violations to the security rules; (b) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and (c) you will log out from the website by taking proper steps at the end of every visit.
Binance will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.
Binance reserves the right to resolve issues and disputes at its sole discretion. Some issues include infringement of others’ rights, violation of laws and regulations, abnormal trades and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.
Guidelines for usage of services on Binance
You hereby agree to observe the following covenants during your use of services on Binance: All the activities that you carry out during the use of Binance Service will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Binance, will not be in violation of public interests, public ethics or other’s legitimate interests, will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules.
If you violate the foregoing promises and thereby cause any legal consequence, you shall independently undertake all of the legal liabilities in your own name and indemnify Binance from all actions, claims, or costs arising from such violation.
You will not use any data or information displayed on the site for commercial purposes without the prior written consent of Binance.
By accessing the Binance Service, you agree that Binance shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to block and close order requests freezing your account reporting the incident to authorities publishing the alleged violations and actions that have been taken deleting any information you published that is in violation
If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold Binance harmless from any loss, fine or extra expenses. If, due to any alleged violation Binance incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Binance against any losses and expense caused thereby, including reasonable attorney’s fee.
Binance reserves the rights to levy service fees on users who use its services. It is in the discretion of Binance to adjust the servce fees charged to users using its services.
Provision of Service
Binance will provide Binance Service at an “as is” and “commercially available” condition, and does not offer any form of warranty with regards to the Service’s reliability, stability, accuracy and completeness of the technology involved. Binance serves merely as a venue of transactions where coin-related information can be acquired and coin-related transactions can be conducted. Binance cannot control the quality, security or legality of the coin involved in any transaction, truthfulness of the transaction information, or capacity of the parties to any transaction to perform their obligations under the rules. You must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the Binance Services provided.
Limitation of Liability
You acknowledge and agree, Binance shall not be liable for any of your losses caused by any of the following events, including but not limited to: Losses of profits, goodwill, usage or data or any other intangible losses Use or failure to use Binance Service Unauthorized use of your account or unauthorized alteration of your data by third parties Your misunderstanding of Binance Service Any other losses related to Binance Service which are not directly attributable to Binance
In no event shall Binance be liable for any failure or delay of service resulting from regular network maintenance or external factors such as power failure, natural disaster, service provider-side problems or governmental acts.
You agree to indemnify and hold harmless Binance, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the Binance Service.
Termination of Agreement
In case of any of the following events, Binance shall have the right to directly terminate this agreement by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Binance and withdraw the corresponding Binance account thereof: after Binance terminates services to you, you allegedly register or register in any other person’s name as Binance user again, directly or indirectly; the main content of user’s information that you have provided is untruthful, inaccurate, outdated or incomplete; when this agreement (including the rules) is amended, you expressly state and notify Binance of your unwillingness to accept the amended service agreement; any other circumstances where Binance deems it should terminate the services.
Should the account be terminated, the account & transactional information required for meeting data retention standards will be securely stored for five years. In addition, if a transaction is unfinished during the account termination process, Binance shall have the right to notify your counterparty of the situation at that time.
Remaining funds after account termination (normal)
Once the account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to Binance) on the account will be payable at once to Binance. Upon payment of all outstanding charges to Binance (if any), the user will have 5 working days to withdraw all funds from the account.
Remaining funds after account termination (fraud/AML/violation of terms)
Binance maintains full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of Binance’s Terms (eg. trading on Binance from a sanctioned country).
Compliance with local laws
It is the responsibility of the user to abide by local laws in relation to the legal usage of Binance in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Binance and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. Binance maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and funds of users which are flagged out or investigated by legal mandate.
Indemnity and disclaimer
You agree to indemnify Binance and its entirety of affiliates and hold them harmless from and against all third party claims except from Binance’s breach of these Terms. As mentioned in description of services, Binance strives its best to maintain the data integrity on its site but does not guarantee the information and services provided in its platform. Binance will not be liable for errors arising from the use of its services.
If you have any complaints, feedback or questions, kindly contact firstname.lastname@example.org and we will in our best efforts try to resolve it for you.