Exchange rules

Effective date: June 1, 2024.

"GroshX (https://groshx.com/)" (hereinafter referred to as the "Service"), on the one hand, and any individual using the services of the Service (hereinafter referred to as the "User"), on the other hand, hereinafter referred to collectively as the PARTIES, and separately as the PARTIES, respectively, have entered into this agreement (hereinafter referred to as the Agreement) as follows:

All terms and definitions used in this Agreement and in the interaction of the Parties under the Agreement shall have the following meanings:

1.1 A virtual asset is an intangible good that is an object of civil rights and has the same distinct set of data in electronic form. The existence and turnover of a virtual asset is ensured by the system for ensuring the turnover of virtual assets. A virtual asset may certify property rights, in particular, rights of claim to other objects of civil rights.

1.2 Virtual asset wallet - a software or hardware and software complex that provides its user with information about the virtual assets owned by him/her and the possibility of disposing of them in the virtual asset circulation system using the virtual asset key.

1.3 A virtual asset key is a set of technical means implemented in a system for supporting the turnover of virtual assets that enable the management of a virtual asset.

1.4 Circulation of virtual assets - all legal relations related to virtual assets that arise between participants in the virtual asset market, as well as between them and the state.

1.5 Virtual Asset Management Service Providers are business entities that carry out one or more of the following activities in the interests of third parties:

1.6 Participants of the virtual assets market shall mean providers of services related to the turnover of virtual assets, as well as any persons who carry out transactions with virtual assets in their own interests.

1.7 GroshX is the name of a p2p platform for the transfer of virtual assets of various payment systems and offers its services through special software to all Users.

1.8 Service means the consistency of rules, procedures and technical infrastructure that provides services for the exchange, purchase and sale of electronic and fiat currencies of different payment systems.

1.9 User - any individual using the services of the GroshX p2p platform.

1.10 Payment system - a set of rules, procedures, and technical infrastructure that ensures the transfer of costs from one economic entity to another.

1.11 Services - providing assistance in conducting p2p transactions between individuals for the purchase and sale and exchange of virtual assets, as well as other services, information about which is available on the Service pages.

1.12 Payment is the transfer of a virtual asset or fiat funds from the User to the User or the Service, as well as in the opposite direction.

1.13 Application - the intention of the User to use the services of this Service by filling out an electronic form through the Website of this Service, on the terms described in the Agreement and specified in the parameters of this Application.

1.14 Partner means a person who provides the Service services to attract other Users, the terms of which are described in this Agreement.

1.15 Card verification is a verification that the card (or account) belongs to its holder. The terms of verification of ownership are set by the Service, which are performed simultaneously for each new account (card) of the client.

1.16 Identity verification is a verification of the compliance of the personal data entered by the User when creating an Application through the Website of this Service. The Service establishes the conditions for identity verification, which are performed simultaneously for each new User.

1.17 Exchange rate is the ratio of the value of virtual assets to virtual assets or fiat assets when they are exchanged.

This agreement (hereinafter referred to as the Agreement) describes the terms and conditions under which the GroshX service is provided. Before using the services of this service, the User is obliged to read and accept all the terms of this Agreement. Otherwise, the User may not use the services of this service.

This agreement is available for public access on the Internet on the GroshX page and may be changed by the Service Administration unilaterally without additional notice to the User.

3.1 This agreement governs the legal relationship between the website https://groshx.com/ (hereinafter referred to as the Service) and an individual (hereinafter referred to as the User) in the provision of services provided by this Service to the User. After agreeing to the terms of this agreement, all previous agreements between this Service and the User in this regard are recognized by the Parties as invalid.

3.2. This agreement is valid at the time of the agreement and does not cancel the current legislation of the countries of registration and location of this Service and the User. If the current legislation of the country of registration and location of the User prohibits or does not allow the use of the Service, in this case the use of the services by the User of this Service is prohibited and will be considered illegal.

3.3 This Agreement may be amended by the Administration without any special notice to the User. The new version comes into force from the moment of its publication on the Website.

3.4. Legal relations between the User and the Service in connection with the execution of this Agreement shall be governed by applicable law.

3.5 By using the services of this service, the User undertakes to pay for them under the terms of this Agreement.

4.1 The Service provides users with services for the purchase and sale and exchange of virtual assets through p2p payments between individuals, as well as other services specified on the pages of the website https://groshx.com/.

4.2. In order to use the functions and Services of the Website, the User must complete the following registration procedure:

4.2.1. Fill out the registration form;

4.2.2. Agree to the terms and conditions of this Agreement;

4.2.3. Upon completion of the registration process, the User shall enter the login and password of the account to access the Website Services, if necessary, to continue using the Website Services. The User shall be personally responsible for the security of his/her login and password, as well as fully liable for all actions to be taken by the User in the process of using the Website services;

4.2.4. The User agrees that the Administration has the right to collect and store the User's registration data (if any) within the Service in order to fulfill the provisions of this Agreement.

4.3. All issues of granting access rights to the Internet, purchasing and configuring the appropriate equipment and software for this purpose shall be decided by the User independently and are not subject to this Agreement.

4.4. The User's password to the services of the Website https://groshx.com/ may be restored by the Administration only in case of accurate, correct and complete indication of the information specified during the initial registration of the account by the User.

4.5 The Service is in no way responsible for the use of any Payment System by the User, its capabilities or limitations. Also, the Service is not a party to the relationship between the User and the Payment System or financial institution, and does not supervise financial transactions between the User and the Payment System or financial institution. All relations between the User and the Payment System or financial institution shall be governed by the relevant agreements.

4.6. The Service Administration has the right to suspend or cancel the virtual asset exchange transaction if the Administration has reasonable grounds to believe that the User uses virtual assets and/or funds without having the right to own them.

4.7. The Service has the full right to conduct additional identification of the User.

4.8. The Service has the full right to suspend or cancel the exchange in case of violation of this Agreement by the User.

4.9. The Service has the full right to refuse further service to the User without giving any reason if the User violates this Agreement.

4.10. The Service has the full right to cancel the exchange operation and return the Deposited funds (virtual assets) to the User, minus the network and/or payment system (financial institution) commission, without giving any reasons.

4.11. All virtual asset exchange operations that have the status "Completed", "Completed", "Conducted" cannot be canceled by the User.

5.1. The Administration shall endeavor to ensure the uninterrupted operation of the Website, but shall not be liable for the full or partial loss of the Materials posted by the User, as well as for the insufficient quality or speed of the Service.

5.2 The Administration has the right, at the first request of the relevant authorized (human rights) body, but in accordance with applicable law, to provide such a state body with the most important information about the Users, not excluding personal data.

5.3 The User acknowledges that the Administration may impose restrictions on the use of the Services.

5.4 The administration is not responsible:

5.5 The User acknowledges that the Administration has the right to refuse to use the services without explaining the reason for such refusal.

5.5 The User undertakes:

-not to use the Service for illegal purposes, such as any financial fraud, pyramid schemes, complicity of 3rd parties in committing such actions, as well as any other actions aimed at causing harm to 3rd parties and contrary to the legislation on prevention and counteraction to legalization (laundering) of proceeds from crime, financing of terrorism and financing of proliferation of weapons of mass destruction;

- provide their personal data for registration and identification of the User;

- use only their personal bank account cards and exclude any possible use of bank accounts of 3rd parties;

5.6. The Service Administration assumes the obligations:

-take all possible and available actions to prevent the use of the Service for illegal purposes, such as any financial fraud, pyramid schemes, complicity of 3 persons in committing such actions, and undertakes to take any other actions, aimed at preventing and counteracting the legalization (laundering) of proceeds of crime, terrorist financing and financing of the proliferation of weapons of mass destruction, attempts of illegal trade, financial fraud and money laundering using the Service.

-To improve the Service to prevent and counteract legalization (laundering) of proceeds of crime, terrorist financing and financing of proliferation of weapons of mass destruction, attempts of illegal trade, financial fraud and money laundering using the Service;

-use AML and KYC verification to prevent and counteract money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction, attempts at illegal trade, financial fraud and money laundering using the Service.

5.7. This Agreement, the Loyalty Program, the Affiliate Program or other materials on the Service website may be changed by the Service Administration without any special notice to the User. The new version comes into force from the moment it is published on the Website.

6.1. All services of the Service are provided on the main page of the website https://groshx.com/ and are performed exclusively on the website https://groshx.com/.

6.2. All relationships between the Service and the User, including the provision of consulting services, obtaining information on the progress of the exchange of virtual assets and other issues, are carried out exclusively through the official communication channels of the Service:

- Telegram: @GroshX_Manager;

6.3. The https://groshx.com/ service operates in manual mode. The operator works online daily from 10:00 to 22:00. The absence of the operator on any days or hours is additionally reported on the main page of the Service https://groshx.com/.

6.4. In order to perform some technical work, the https://groshx.com/ service may be disabled for the duration of such work, which is additionally reported on the main page of the Service with all its functions disabled.

6.5. The process of exchanging a virtual asset for fiat funds and vice versa is carried out exclusively on the Service page https://groshx.com/ using the Software provided by the Service on the Website https://groshx.com/ by filling out an exchange request.

6.6. By making the exchange, the User confirms that he/she legally owns and disposes of the funds and/or virtual assets involved in the exchange and they are not encumbered by 3 persons and other business entities.

6.7. By clicking on the "Exchange" button, the User agrees to all the terms and conditions of the Service, and instructs the Service, and the Service at the same time, on its own behalf and at the expense of the User, performs actions to exchange virtual assets or fiat funds of one Payment System for virtual assets or fiat funds of another Payment System, which was selected by the User when making the exchange.

6.8. The User agrees that the amount of the Service fee is taken into account in the Application and confirms it on one of the pages of the Service when performing the program operation.

6.9. The User undertakes to transfer virtual assets or fiat funds in the amount specified when the User submits the Exchange Request, and the Service undertakes, upon receipt of virtual assets or fiat funds in full in accordance with the Exchange Request, to transfer virtual assets or fiat funds to the User in full in accordance with the Exchange Application.

6.10. The Service for the exchange of virtual assets or fiat funds of the User shall be deemed to be completed, and the obligation of the Service to transfer virtual assets or fiat funds to the User shall be deemed to be fulfilled, at the moment of debiting the virtual asset or fiat funds from the Service account to one of the Payment Systems, which is confirmed by registering the number, date and time of the transaction of the relevant Payment System.

6.11. The Service has the right to cancel the Application issued by the user for the exchange of virtual assets or fiat funds if this Application has not been paid for within 20 minutes from the moment of creation.

6.12. The Service has the right to cancel the Application issued by the User for the exchange of virtual assets or fiat funds if this Application has not been paid in full, and the Service will be obliged to return the funds received by the User minus the network fee of the relevant Payment System.

6.13. The Service shall have the right to unilaterally recalculate the Application according to the actual amount received to the Service account if the User has transferred virtual assets or fiat funds in an amount other than that specified in the Application.

6.14. Upon receipt of virtual assets or fiat funds exceeding the amount of the Exchange Request executed by the User, the Service has the right to cancel the Request, and the Service will be obliged to return the funds received to the User minus the network fee of the relevant Payment System, or accept the Request as "Completed", and the difference in virtual assets or fiat funds between the value of the Request and the accepted virtual assets or fiat funds will be returned to the User minus the network fee of the relevant Payment System.

6.15. All additional transfer fees not included in this Agreement, including the return of virtual assets or fiat funds, shall be paid from the funds received at the expense of the User.

6.16. The Service has the right not to fix the rate of virtual assets or fiat funds at the time of execution of the Order.

6.17. Peculiarities of certain payment systems:

6.18. The Service does not provide services on the territory of countries and does not serve tax residents of these countries where they are located: Russian Federation, territories not controlled by Ukraine, USA, Canada, Australia, Myanmar, Pakistan, Afghanistan, Iran, Iraq, Syria, Lebanon, Bahrain, Qatar, Kuwait, Saudi Arabia, Oman, Yemen, Palestine, Eritrea, Libya, Liberia, Sudan, the Democratic Republic of the Congo, Côte d'Ivoire, Somalia, Guinea, Sierra Leone, Algeria, Nigeria, Ethiopia, Cuba, the Cook Islands, and North Korea.

6.19. The Service has the right to unilaterally suspend the execution of an Exchange Request if it is high-risk and/or illegal in accordance with the AML/CFT policy. Virtual assets and/or fiat funds identified as high-risk and/or illegal may be blocked by the Service until their origin is clarified and additional personal identification (KYC) is required. In this case, the Service reserves the right to terminate cooperation with the User unilaterally.

6.20. The https://groshx.com/ Service adheres to the AML / CFT policy on combating money laundering, countering the financing of terrorism and "Know Your Customer" (hereinafter referred to as the "AML / CFT Policy") is designed to prevent and reduce the possible risks of the https://groshx.com/ Service's participation in any type of illegal activity. In this regard, the https://groshx.com/ Service checks each transaction and if the result is 70% or higher risk, the exchange request will be suspended, the funds will be blocked by the Service until their origin is clarified and additional identification (KYC) may be required. If the funds are returned to the user, the commission of the Payment System network will be deducted from them. In this case, the Service reserves the right to terminate cooperation with the User unilaterally.

7.1. The cost of services is determined by the administration of this Service and is published on the Service Website. The administration of this Service has the right to change the cost of the Service without further notice to the User.

7.2. The cost of services can be set for a period of up to 30 minutes for payment by the User, after which it can be changed by the Service, depending on the market situation, both upward and downward.

7.3. The https://groshx.com/ service is not a tax agent for the User and does not pay taxes instead of the User. Therefore, the User undertakes to pay all taxes required by the tax laws of the country of residence and/or location on their own.

7.4. If during the exchange, after a certain period of time, governmental authorities or other authorities entitled to do so require the User to pay taxes or any other obligations of the User, the User shall reimburse the Service for all payments and expenses related to these payments (such as taxes, postage, telephone costs, etc.) in full.

8.1. The Virtual Asset Exchange Service provides its services on the terms and conditions described in this Agreement and does not provide any additional guarantees.

8.2. The Virtual Asset Exchange Service shall not be liable for any possible losses of the User, lost profits or any other expenses incurred by the User due to lack of access to the Website, services of the Virtual Asset Exchange Service, delays and failures of banking systems, false expectations of the User, entering incorrect payment details and other factors.

8.3. The Virtual Asset Exchange Service shall not be obliged to take any measures aimed at refunding the User's funds if the User has incorrectly specified the details for transferring virtual assets or fiat funds when placing an Application on the Website.

8.4. The User undertakes and guarantees to use only his/her personal virtual assets and/or fiat funds that are not encumbered by 3 persons and/or other business entities.

8.5. The User agrees that the Website and its content are subject to the Law on Copyright and Intellectual Property. The Website Administration warns that unauthorized use of the Website content is punishable by law.

8.6. The User agrees and warrants that he/she is not directly or indirectly involved in any fraudulent schemes, pyramid schemes or other illegal actions that harm 3rd parties. Also, it will not have any claims to the Service in case of payment.

8.7. The User agrees that when using smart contract wallets (indicated as a wallet for receiving virtual assets) and transferring virtual assets to them, the User may lose their funds and will have no claims to the Service in case of payment.

8.8. The User agrees and warrants that he/she does not use cards and accounts of 3 persons.

8.9. The Service is not responsible for the use of cards and/or accounts of 3 persons by the User.

9.1. Each party shall be released from liability for failure to fulfill its obligations under this Agreement if such failure was caused by force majeure circumstances arising after the adoption of this Agreement and reasonable efforts of each party to avoid or eliminate such events or their consequences failed, including natural disasters, fires, floods, terrorist acts, change of government, civil unrest, as well as non-operational payment systems, power supply systems, communication networks and Internet providers.

10.1. The Parties agree that they have entered into this Agreement after agreeing on all its material terms. The Parties confirm that this Agreement has been concluded with full understanding of all its provisions, taking into account all material circumstances, including the economic benefits of proper and full fulfillment of the terms of this Agreement. The inconsistency of certain provisions of this Agreement with the applicable law shall not be grounds for invalidating this Agreement as a whole. in electronic form and recognize it as equivalent in legal force to an agreement concluded in writing.

10.2. The Parties agree that they have concluded this Agreement in electronic form and recognize its equal legal force with the Agreement concluded in writing.

10.3. The Virtual Asset Exchange Service has the right to send notifications to the User in the form of information about the status of the exchange, to the e-mail, phone number specified by the User, as well as other information, including information containing advertising.

10.4. The Parties agree that all disputes and disagreements arising or that may arise from this Agreement shall be resolved through negotiations. In case of settlement of a dispute or disagreement through negotiations, the Parties have the right to apply to the court at the location of the Service.

All information on the site, including all graphics, text, program codes, etc., is the property of https://groshx.com/ and is subject to the Copyright and Intellectual Property Law.

The Site Administration warns that unauthorized use of the Site content is punishable by law.