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As used herein, “BuyUcoin or Company” refers to the holding company of BuyUcoin being iBlock Technologies Private Limited (‘Company’), a private limited company incorporated under the laws of India and having its registered office at 87, Collector Ganj 4th floor, Railway Road, Hapur-245101, India its owners, directors, investors, employees or other related parties. Where the context so permits, Depending upon context, “BuyUcoin” may also refer to the services, products, website, content or other materials (collectively, “Materials”) provided by the Company.
Your Personal Information:
BuyUcoin may collect your personal information while you access the Website. While opening an account with us we may collect your contact information including name, address, phone, email, etc.; information regarding your transactions and trading; bank account; and information pertaining to your IP address and the device or computer used by you for the purpose.
BuyUcoin may collect, disclose, process, transfer, use your personal information for the following purposes:
a) To process transactions,
b) To send periodic emails and SMS with updates, promotions, company news, and notices regarding changes to policies,
c) Customize, measure, and improve BuyUcoin Service and the content and layout of our Website and applications,
d) To analyze use of the Website,
e) Prevent potentially prohibited or illegal activities, and
f) To undertake a verification of your identity with third party electronic identification providers.
We may also place cookies on your device while you access the Website. In this regard, we use flask cookies to promote account security, as well as both session and persistent cookies. Any sensitive information in these cookies are encoded so that only BuyUcoin can interpret the information stored on them. The cookies are placed for the following purposes:
a) Recognize you as a BuyUcoin customer,
b) Collect information about your computer to mitigate risk and help prevent fraud,
c) Customize your experience, content, and advertising, and
d) Measure promotional effectiveness.
Protecting Your Information:
Your personal information is stored on BuyUcoin’s servers that are may either be online or offline and with certain of BuyUcoin’s service providers. It is protected by maintaining both electronic and physical procedural safeguards. We use computer safeguards such as firewalls and data encryption. Access to personal information is provided only to our employees who require said information to perform their duties as employees.
Disclosure and transfer of Personal Information:
We do not share any information related to users with any third party for uses like marketing and promotional purpose. Stored personal information is available only to the user (for editing purposes), customer service personnel, verification department and to administrators and consultants, and third party entities and service providers who is bound by non-disclosure agreements.
However, we do share information with law enforcement and government officials when we are compelled to do so by a court order or similar legal procedure.
You also agree that BuyUcoin shall be free to transfer/disclose any information shared by you with BuyUcoin, to a related party or to an affiliate or to any entity controlled by the promoters of BuyUcoin. We may also transfer your information during sale of assets or business to another company, de-merger into another company, while getting acquired by another company or getting merged with another company.
Changing Personal Information:
You may access your personal information in order to make changes or corrections by visiting User Info. However when you change any personal information, you will need to provide the documents again and go through verification procedure before your changes come to effect.
Liquidity Loss and Risk Policy
Cryptocurrency trading has numerous threats. After fully understanding the cryptocurrency trading risk shown below, the customer assumes full responsibility for it and carries out cryptocurrency transactions based on their own judgment.
1. Price fluctuation risk and loss occurrence possibilities due to it
Cryptocurrency prices, in addition to cryptocurrency supply and demand, the entry of new cryptocurrency competition, blockchain technology development, etc. that not only directly connect with cryptocurrency events, but are also influenced by various world events such as commodity prices, currencies, trends in securities / foreign exchange markets, government regulatory trends, IT technology. Being influenced by any of these, the value of the customer's cryptocurrency holding assets may fluctuate tremendously resulting in loss, and in some cases lose its full value.
2. Liquidity Risk
Crypto-currency transactions may not be feasible, or trade may occur at unfavorable rates, depending on market shifts. Orders may also be inclined to either purchase or sell goods, the order may take time to be established and in some situations it may not be established at all.
3. Risk of not confirmed payment settlements
There is no method in crypto-currency trade that ensures that an order is confirmed. There is thus a risk that the transaction will become invalid to date back to.
4. Risk of forking due to Hard-fork
There is a risk of hard-fork splitting a certain cryptocurrency into two or more, making mutual compatibility incompatible, depending on crypto-currency. In such cases , the original exciting cryptocurrency is at risk of significant declines in value, and transactions can become invalid to date back to.
5. 51% Attack Risk
Based on the cryptocurrency, if a person with malicious motives has 51 percent or more of that cryptocurrency's computing power in the mining, there is a possibility that fraud transactions-be performed.
6. Risks in Relocating Cryptocurrency
The relocation shall not be defined in cryptocurrency transfusion until validation of the relocation has been completed (the certification of relocation in the block chain) and for a period of time the transferral shall remain suspended. The transfer of the cryptocurrency between the business and the customer can not then be done before the transfer is verified on the network and unless the transfer of the cryptocurrency is canceled on the basis of the customer instructions. Further, since the cryptocurrency is registered electronically and the transaction is transferred via the network, it can therefore be lost for some reasons in the network.
7. Risks out of Business hours
Our company can have tremendous price fluctuations during our working time (including during maintenance periods) when handled cryptocurrencies. The corporation is not liable even though it can't do crypto-monetary trading out of business hours.
8. Cyberattack Risk
If a cryptocurrency exchange gets a cyber assault, the client can lose his or her information, passwords etc. due to cryptocurrency loss or value loss etc. If the cryptocurrency exchange takes place.
9. Risk of Cryptographic information Loss and Leakage
In electronic transaction systems, in case of leakage due to fraud or eavesdropping etc., it is possible for the company to incur losses as a consequence of misuse of the information by third parties, the login Id and password details required to provide electronic validation, etc.
In case the company-managed cryptocurrency records information is lost, the deposited cryptocurrency can not be passed on and utility value is lost. In case the cryptocurrency record information is lost. In addition, the deposited crypto-currency may be converted to or partially not for specific information that is lost from theft or the leaks due to cyber attacks or intrusions into internal or external fraud etc,
10. System Risk
The transactions of the electronic trading system are used for this and other transactions. In the event that an order is incorrectly entered, the intended order may not or may not be finalized.
Due to a number of reasons, an ETS can not be immediately or for a certain duration, such as communication failures / system failure of the Organization or the Customer, network interruption and natural disasters, such as an earthquake, cyber attacks. In addition, because of delayed or non-arrival of our system's customer order instructions customer orders may be invalidated. Therefore, in the case of an electronic trading system failure the company accepts the right to cancel the customer's trading.
In the event that the pricing details on the electronic trading system price and the real market price are quickly adjusted, rates may be delayed and there may be differences.
The Company system can measure an abnormal cryptocurrency purchase and exchange price. Please notice that the Company cancels the contract at its own discretion, in case of an order that is considered to have been created by an irregular value.
If there is any malfunction of the network as a result of external adjustments, and so on, it might not be possible for the customer to place an order over the Internet or to cancel or disable the customer's orders etc, which may lead to a trade malfunction.
The Organization shall not take responsibility for a loss of opportunity in the event of any loss of opportunity arising from Network emergency repairs, network malfunction etc, if we can not discover the customer contents of the order to be issued.
11. Possibility of Loss occurring due to external causes
Customer loss due to accidents, problems in public contact, delays in recording transactions in transmission systems for crypto-currency transfers and any other situations outside the reach of the business. The Company shall in these situations not assume any responsibility for damages that may occur for the consumer because of external factors not impacting the Business.
12. Leakage and Compensation of Deposit Asset Risk
If the customer loses deposit money, the client shall reimburse the damages incurred by unwanted internal / external interference, cyber attacks etc. When the customer loses. In these cases, however, the company could not adequately compensate for the damages suffered by the consumer because they were in a fragile situation.
13. Liquidation risk
The company manages the venture capital and the customers' deposits wherewithal. Nevertheless, as no continuity measures specifically have been taken in reverence of these chattels, in the event of a liquidation, the Company will not generally be able to recuperate the properties to the Customer and the Customer will mostly come into very dire straits of liquidation of assets, which will ensue by this policy, made known in general contractual conditions.
14. Legislation · Tax system change risk
The exchange of cryptocurrencies was established and consumer security mechanisms improved considerably. For future it could be likely that, as a result of changes in law, laws, taxes or other policies, cryptocurrency transactions may be prohibited, limited or increased by taxes, etc. The assets and transactions of cryptocurrency may be limited, and the management of cryptocurrency may become worse than in the present circumstances. In this scenario, the consumer can incur unintended losses.
The risk listed above describes briefly the typical hazards associated with transactions of cryptocurrency and does not represent all the risks which may arise in transactions of cryptocurrency.