*Please read the document carefully before you agree to use Byte online platform
Terms and Conditions contents the terms of using the online Byte online platform which is www.byte.com and other related available software application or mobile application, mainly operated to trade digital assets or crypto- assets. Users can be a guest or a registered user who can access, browse, register in any of the available online platform. All users are requested to read Terms and Condition carefully before using the online platform.
Use of the platform confirms that the users has agreed to the Terms and Conditions.
Any user who does not agree to the Terms and Condition, we recommend them not to use the platform in any form.
The option called “Wallet” in the platform is the wallet of the users for both crypto-assets (digital assets based on blockchain technology like Bitcoin, Ripple, Ethereum etc.) and the INR (Indian Rupees) balance.
In the wallet the “crypto-assets balance” are the amount showing user’s total holding of crypto-assets.
In the wallet the “INR balance” is the amount showing user’s total holding of Indian rupee.
In the wallet the “withdraw” is the option to take out or transfer any of the crypto-assets and take out of the INR to user’s respective bank.
In the wallet the “deposit” is the option to bring crypto-assets or INR in the respective wallet.
“Digital platform”, “Online platform”, “Digital form of platform”, “Platform” refers to all the digitally possible way to access the platform such as web browser, mobile application and software application. In the platform “Digital asset” refers to crypto-assets. It is an asset based on the blockchain technology. “Sanctions List” means any of the lists of specifically designated nationals or designated persons or entities (or equivalent) held by the U.S. government and administered by OFAC, the U.S. State Department, the U.S. Department of Commerce or the U.S. Department of the Treasury or the United Nations Security Council or any similar list maintained by the European Union, any other EU Member State or any other U.S. government entity, in each case as the same may be amended, supplemented or substituted from time to time.
Any reference to “you”, “your” and “user” refers to you as a user of the available Online Platforms and the Services and any reference to “we”, “our” and “us” refers to the Company as the provider of the Services in the available online platforms.Changes
We request the users to come back and check the “Terms and Conditions” time to time as we may change, remove or add, terms without any prior notice.
We may change our services, remove or add services, stop providing the same service and also the features of the services to the users without prior notice.
We may change the deposit and withdraw limit depending on market situation and security reasons.
We may change or update our available digital platform at any time for betterment of the platform and also to make the platform secured.
We may change the deposit addresses of the crypto-assets upon upgradation and maintenance of the platform. So we recommend you to check time to time for the latest address to make sure and avoid problems.
We do not guarantee for the uninterrupted access and use of the platform. Availability of the platform is also not guaranteed all the time as we need to stop all operation due to any unexpected reasons. We may change, suspend, discontinue all or any particular part of the platform without any prior notice.
We will not be responsible for any losses incurred due to price changes in crypto-assets during the time our platform was not available or accessible.
Byte does not guarantee of error free use of the platform.Account related
As a verified user you will be provided a wallet for crypto-assets and Indian rupee. This wallet gives you access to purchase, sell, receive, send, withdraw and deposit crypto-assets and INR. We have the right to cancel any order or transactions by you if you suspect of any inappropriate transaction or find any contravention to our AML Policy or if we are told to do so by any appropriate Govt. enforcement authorities.Crypto-assets Balance
The wallet has crypto-assets balance where users can see the total holing of digital assets in the platform. Users can withdraw or deposit every particular digital asset but in a particular limit mentioned by Byte. You can deposit the digital assets in the wallet from another external wallet at any time. We recommend users to be aware of the address for deposit. Please check the address whether it is the right address for the right Digital asset before you deposit. If any user loses digital asset while depositing in our wallet for using a wrong crypto address, we will not be liable for the loss. Users can withdraw digital asset to any other external wallet, but we may ask you to verify that the external wallet is also used and operated by you. Once the crypto-assets are withdrawn from our platform to another external wallet we will not be liable for any situation like loosing of the digital asset due to wrong address or system failure.INR Balance
INR (Indian Rupee) balance is where you can your fiat balance which you have deposited in the platform wallet, or credited to you by the platform for completing a trade order like buy or sell of crypto-assets. You can deposit INR in the platform wallet following the guidelines by Byte. The way of depositing of INR can change time to time for internal reasons or any external reasons. Once you want your INR balance to withdraw to your verified bank account we will initiate the process and within a time period we will complete it. Due to any internal or external reasons we may hold and take some time to verify your transaction (withdraw and deposit). We also may hold the transactions if we are directed by any Govt. enforcement authorities.User Representation and Obligations
Users should follow all the terms and conditions along with the Anti Money Laundering policies as users agreed and registered in the platform.
Users will use the all services provided by us for lawful purposes only and comply with these Terms and all applicable laws, statutes, by-laws, acts of legislature or parliament, rules, regulations, orders, ordinances, protocols, codes, guidelines, or policies of any governmental authority, including without limitation the Prevention of Money Laundering Act 2002, the Unlawful Activities (Prevention) Act 1967; and all applicable judicial orders and precedent (“Applicable Laws”) while using and transacting on the Online Platforms.
Maintenance of all the content in your account should be your responsibility.
Each user should keep the password safe and secure as well as all the details and information. We recommend you to use strong passwords using upper and lower case letters, numbers and symbols. The Company will not be liable for any loss or damage arising from your failure to comply with this instruction. You acknowledge that you will irreversibly lose your Digital Assets if you delete your Account. You should provide us all the required documents which are true, real, correct, accurate to the best in your knowledge. You should not cancel any order that is already in process, as in case if any order is partially executed, we may permit cancellation of the unexecuted order. You acknowledge that all orders and/or transactions are irreversible once executed.
Users maintain a sufficient amount in the wallet for initiating any order or transaction. If you have insufficient amount in the wallet the we may either cancel the order or execute a partial amount using the wallet balance
You acknowledge that all certain taxes and service charges will be applicable as per law. You also take the responsibility to pay all the taxes that may arise for you using the service of the platform. You acknowledge that the actual price of the digital asset may vary at which an order or transaction is executed as the market is very volatile and subject to fluctuation.
The company may have to suspend the complete operation on the platform in certain cases. You acknowledge that in during such events you will have limited access or restricted to the platform. We have no control over the technology of mining, creation, sale or buy of such digital assets. You do acknowledge that the company has no control over the market price of the digital assets. We do help our users to place an order to trade in the platform to complete it with another user with a mutual pricing. The contract for sale of any of the Digital Assets shall be a strictly bipartite contract between the seller and the buyer.Risk
You may face a considerable loss while trading so we recommend you to determine your financial situation and risk tolerance before you trade. Digital asset or crypto-assets are not regulated in India at the moment, trading, holding and transferring some or all of your digital asset can be illegal in the future as per Indian Government. You are encouraged to obtain appropriate legal opinion regarding the same before using the Online Platforms. The digital asset’s value is very volatile and you may sustain a total loss of your invested amount. As the market is in the early stage of developing, during a market disruption or any unexpected events you may face difficulties to liquidate your possession. Digital Assets are not supported or backed by a central bank or any other govt. financial regulator and as such there is no third party that may take any corrective action upon the occurrence of a global/regional crisis. Since Digital Assets are held online, they are susceptible to security breaches and government crackdowns that may end up compromising the integrity or anonymity of the system that produce such Digital Assets.
Registering in the platform and having a user account in the platform confirms that you are agreed to take all the possible risks in the trading market and you agreed to it after assessed your financial state.Fees
A fee will be charged for each transaction in the platform. The transaction fee chargeable on each trade is provided in the “Fee” section. These fees are subject to charge according to the market situation. Deposit of INR in the wallet is free of charge as it is done through RTGS, NEFT and IMPS, but if you use a debit or credit card or any other bank cards or net banking to deposit INR, a charge of 2% will be impose as a transaction fee. Deposit and withdrawal limit will be strictly mentioned by the company in specific place.
Deposit of Digital asset or crypto asset in the wallet is free. Withdrawal fee will be deducted for per transaction according to our fee schedule Deposit and withdrawal limit for the same will be mentioned in the platform in a specific place.Intellectual Property Rights
All the content used in the platform belongs to the company and protected under copyright, trademark and other applicable laws. The trademarks, services logos, company logo, web logos and others used in the online platform are the property of the company and their respective owners. In any case the users should not change or dissemble any part of the online platform. Any such action by user is a breach of the terms and condition and in such cases company will terminate the user’s account. Our Online Platforms may include third party intellectual property including the software used for distributing Digital Assets and in others functions of the platform. The Company does not own any rights to this kind of third party IP and is bound by the license, agreement and terms for IP and by virtue of these terms the Users should also be bound by these licenses, agreements and terms.No Reliance On Information
The information and content on the platform is just general information, it does not encourage or advise any user to invest any specific amount. We recommend you to take specialist advice to invest any amount on the basis of the content or the information.
Some contents and information on the platform are available is not by us and it is just general so please do not rely on the content as it may be changed at any time according to situation of the market and other reasons. Any content in the platform whether audio, video, or other documents, text, copy does not encourage or advice users to invest. We do not consult users for investment. Any loss you face due to reliance on our content or information is not our liability. We may review content in the platform made available by the users to determine whether it is illegal or violates our policies, and we may remove or refuse to display content that we reasonably believe violates our policies or the law. But that does not necessarily mean that we review content, so please do not assume that we do. We take no responsibility for the websites linked to the platform. Such links should not be interpreted as endorsement by us of those linked websites. We will not be liable for any loss or damage that may arise from your use of them.
We try to update all the required information on our available online platforms, we make no representations, warranties or guarantees, that the content is accurate, complete or up to date.Disclamer Of Warranties
You acknowledge that the use of the online platforms and the service is your sole risk and responsibility. The services in the online platforms are provided “as is” or “as available” basis. We always try to provide the best quality available service to our users to the fullest extent allowed by the law. The contents of the Services or the Online Platforms may contain bugs, errors, problems or other limitations. We assume no liability or responsibility for any errors or omissions in Content.
We take no liability for the Content uploaded by you on the Online Platforms. We are not responsible for any direct or indirect damages or losses caused to you, including without limitation, lost profits, business interruption or other loss resulting from use of or reliance in any way on anything available on the Online Platforms. It is solely your responsibility to evaluate the accuracy, reliability, completeness and usefulness of Content available on the Online Platforms that is used by you.
We make no promise or warranty that the service on the platform will meet your requirements or the service will be uninterrupted, timely, accurate or reliable. We also do not make any warranty for the availability of any content or information on the platform.
In case you store or transfer any information and/or data through the Services or the Online Platforms, you are strongly advised to make back-up duplicate copies and are solely responsible for any loss.Viruses
Users will be responsible for introduction of any viruses, Trojans, logic bomb, worms or other materials which is harmful for the technology. Users must not try to gain unauthorized access to the online platforms. By doing do, users would commit a criminal offence under the technology Act, 2000. The company will repost such activities to the relevant law enforcement authorities and we will follow their command to disclose your identity to them so that they can take required action as per law.
We will not be responsible for any loss caused by the virus, denial service attack, distributed denial service attack or any other technology harmful material which may infect your computer, data base due to use of the Online Platforms or your downloading of any Content on it, or on any website linked to it.
you should always use a virus protection software to protect the system in your computer. We do not take guarantee of downloading such software from any websites will be virus free or worm free or Trojan free or other code that manifest contaminating or destructive properties.limitations Of Companies Liabilities
To the extent permitted by law, we exclude all conditions, warranties, representations or other terms which may apply to the Online Platform or any Content on it including any information or the Online Platform itself or Services, whether express or implied.
Our liability to any user in no event shall exceed the fees paid by such user during the 6 months immediately preceding the date of claim for any direct, indirect or consequential loss or damage, whether in contract, breach of statutory duty, or otherwise, even if foreseeable, including those arising under or in connection with use of, or inability to use, the Services or the delays in transmission or operation of the Online Platforms; or use of or reliance on any Content and/or information displayed on the Online Platforms; or from errors, mistakes, omissions, or deletion of files; or use of the Services provided through the Online Platforms. whether or not resulting from any communication failure, theft, unauthorised access or a force majeure event.
For a business user. We request you to note in particular that we will not be responsible for:
Loss or profit, sales, business, revenue or any other opportunity, Interruption in business, Loss of savings, loss of goodwill or reputation, loss of business opportunity.
We announce that the online platforms are only for domestic and private use only. Users are recommended and also agreed in the same for not using the online platforms in any commercial or business purpose according to the terms and conditions.
We may will have to provide or share your details like transaction history for both crypto-assets and INR, PAN details, Aadhar details, contact number and email id to or with the Govt. enforcement authorities. We are very much transparent to Govt. authorities so we will have do so as per Government’s requirements.Communication
We communicate with users through emails or calls. Communication through the emails will only be sent from any email that will have “@byte.com” in the email addresses. We recommend you to ignore other emails that claims it is from byte. We take no liability of loss or any other incident due to following such emails which is not from “Byte”. We also do not send any emails for investment advice or related to any service of the same.
**We request our users to send email if there are any changes in the information provided by you in the platform or sent in email like ID change or Name Change or Bank Details Change or any other information that you would like to let the company know please send the emails at [email protected] with proper subject mentioned in the email.Linking And Representation
Any user chooses to authenticate your account through Google Authentication that simply means you are linking that to your account. Always use the platform and all contents in a legal way so that it does not damage the reputation of the company. Users must not establish link in such a way as to suggest any form of association, approval or endorsement on our part where none exists. Do not link the online platforms to any other website. We have the right to remove such link without notice. Any users want to use any information or content by the online platforms or in the platforms please contact [email protected]User Responsibilities
All users are requested to use the online platform with all security and safety as it is every user’s responsibility to keep the online platform secure for the company and other users. Certain actions will be taken if we find any user, trying to harm the other users or the online platforms through any act like unauthorized access or other activities which is not acceptable by law.Release and Wavier
As per and to the maximum extent permitted by Applicable Law, users hereby agrees in this release to waive all claims against the Company, company’s subsidiaries, affiliates, agents, licensors, officers, co-branders or other partners, and employees from any and all liability for claims, damages, costs and expenses of every kind and nature, caused by the use of the online platforms and the services, content or use of the crypto-assets or Digital Assets.
If the company fails to insist that you performed your obligations under the terms and conditions or if we do not enforce our rights against you or delay in doing the same that does not mean the we have waived our rights against you, if we do waive a default by you we do only so in writing. And that does not obviously mean we will automatically waive any later default by you.Law
The terms and conditions, subject matter related to it, are governed and formed under the laws of the Republic of India. Any dispute arising out of or in connection with these terms and condition of the online platforms will be dealt by the courts of New Delhi.Termination
We do have the right to discontinue providing access to the online platforms if we have any doubt or we find you are incompetent to contract by virtue of your age or otherwise under these Terms or the Applicable Law and in breach of the Terms. The online platforms are not for the people whose name is listed in the Sanctions List or whose membership was suspended by us for the breach of the terms and conditions or for some other reasons.General
You should not consider any particular person or any entity as a broker, agent, third party, joint venture, partner of the company. The company works by own and do not have any other authority to work on behalf of it. We will not be responsible for any loss arises due to follow any other person or entity like that instead of the company.
If any of the provision in the Terms and Conditions found invalid by the jurisdiction or the court then only that part will be removed or invalid, rest of the Terms and Condition will still be in effect or in full force.
For any kind of general enquiries, complaints and feedbacks, please email us at [email protected]
If you do not agree to any of the Terms and wish to opt-out such terms, then please reach to us at [email protected] You agree that you are not permitted to use the online platforms or the services unless your opt-out request is accepted by us.
If you wish to discontinue and deactivate your account in our online platforms we request you send us an email at [email protected]