Lypotoex Crypto

1. General

These Lypotoex Crypto Gateway Terms of Use are between you and GateHub Crypto. “Lypotoex Crypto” refers to the company Lypotoex Crypto d.o.o., with the registered office at Zaloska cesta 1, 1000 Ljubljana, Slovenia.

By using the Lypotoex Crypto Gateway Services (“Services”) provided by Lypotoex Crypto, you confirm that you have read and understand the risk associated with using these Services and you will not use the Services in a manner which is contrary to the general prohibitions regarding your Lypotoex Account, as stipulated in Lypotoex Ltd. Terms of Use. If you do not agree with Lypotoex Ltd. Terms of Use, you cannot use Services.

2. Services

The Services allow you to deposit and withdraw cryptoassets through the XRP Ledger (“XRPL”), through Xahau, or through the native network of a supported cryptoasset (Ethereum or Bitcoin). You can trade directly against any of the cryptoassets. The Services also allow you to deposit and withdraw fiat assets (EUR, USD, GBP), using the SEPA, SWIFT and Faster Payments networks.

You can buy cryptoassets with your existing XRPL or Xahau funds using Lypotoex platform or you can deposit cryptoassets by selecting your wallet and depositing cryptoassets to the provided address.

The minimum amounts for cryptoassets deposits and for withdrawals are published on our Platform. Cryptoassets deposits below these limits will not be processed.

Unsupported tokens and cryptoassets deposited to Lypotoex Crypto Gateway addresses will be subject to our Crosschain Recovery Policy, which constitutes part of the Lypotoex Crypto Gateway Terms.

3. Lypotoex Platform

The Services are accessible through the Lypotoex website (https://Lypotoex.net), GateHub’s mobile app and through websites and mobile apps provided by third parties not affiliated with Lypotoex (the “Platform”). The Platform also enables our users to access and use services provided by third parties. Such third-party services are governed by separate terms of use.

By using the Lypotoex Platform to access the Services you are agreeing to the terms in this agreement. You should read the entire agreement carefully before you use any of the Services. If you do not accept these terms, do not use our Services.

By using our Services you represent and warrant that you have full power and authority to enter into this agreement, and have not been previously suspended or removed from using our Services.

4. Availability of Services

We make no guarantee that you will be able to trade cryptoassets at the time of your request. We will only reflect the transaction in your Lypotoex Account if we have been able to process the transaction.

We cannot guarantee the value of any cryptoasset at the point you submit your transaction.

The underlying protocols of the cryptoassets are subject to sudden changes in operating rules (‘forks’). A fork is a sudden change in how a cryptoasset works. A fork may seriously change the function, value or even the name of a cryptoasset, and may cause a cryptoasset to be split into two cryptoassets. If a fork occurs, we will determine the best approach for users in relation to such an event. Any decision made on behalf of the users will be made at GateHub Crypto’s sole discretion.

The Services are provided without warranty of any kind, either express or implied. We do not represent that the Services will be available all of the time to meet your needs. We will use reasonable endeavors to provide you with the Services as soon as possible but we do not guarantee that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

5. Cross-chain Recovery Policy

A deposit of one coin to a different coins’ blockchain address is considered a cross-chain deposit.

A cross-chain recovery is an inherently risky and time-consuming process. Not all deposits can be recovered. Lypotoex Crypto commits to provide this service on a best effort basis. If Lypotoex Crypto agrees to attempt a cross-chain recovery, a claimant expressly agrees that this attempt carries no assurance of success and that the time frame of any recovery, if possible at all, may vary – an obligation of effort, not an obligation of success.

The decisions whether to attempt a cross-chain recovery and timing of any recovery attempt are at our sole discretion.

This policy applies to any deposit of a Lypotoex supported currency or token sent to the blockchain address of another coin on another network. For example, this includes but is not limited to sending BTC to a BCH address or sending ETH to an ETC address.

Lypotoex will NOT attempt to recover coins or tokens that we do not list or support on our site.

Recovery Attempt Fee equals $500.00 or cryptocurrency equivalent, payable in fiat or in cryptocurrency supported on our site.

Recovery Attempt Fee is payable in advance. If recovery eligibility criteria are met (see next chapter) Lypotoex will deduct the Recovery Attempt Fee amount from the claimant’s hosted Lypotoex wallet.

Recovery Attempt Fee applies for an attempt, not for successful completion of a cross-chain recovery.

In the case of successful cross-chain recovery, no other fees in relation to that recovery apply for the customer.

Recovery eligibility

A recovery request should be submitted to our customer support via the online form with the following information:

• • Description of the transaction,
  • Transaction ID (hash), and

Transaction Date/Time/Amount/Currency.

Please provide as much information as possible, to help us process your request faster.

We will assess your recovery eligibility based on the following criteria:

• A claimant must be a verified Lypotoex customer,
• Must make the claim within 90 days from the date of deposit,
• Must hold a hosted Lypotoex wallet,
• Must seek recovery of a supported currency,
• Must seek recovery of deposits exceeding the minimum value (established by Lypotoex in its sole discretion), and
• Must pay in advance a Recovery Attempt Fee.

All six criteria must be met in order for funds to be considered eligible for recovery. Additionally, we deliberate over each recovery claim on an individual basis and may decline to attempt a recovery regardless of the factors cited above, particularly if we determine any suspicious activity related to a deposit, as determined solely in our own discretion.

We will grant recovery exclusively to our customers who will have completed the mandatory KYC procedure in order to become verified before the fact or during the course of the recovery claim. Lypotoex account registration is free of charge and is subject to limitations as laid out in this agreement. More details on set criteria are laid out below. Our customer support will assist you upon submission of the recovery claim.

A recovery claim must be made within a 90 calendar-day period, running from the date of the initial deposit. All claims requested beyond this 90 calendar-day period are barred.

We will credit any recovery exclusively to an account with a Lypotoex hosted wallet. Hosted wallets are available to our customers free of charge, and may be created before the fact or during the course of the recovery claim.

Supported currencies eligible for cross-chain recovery include BTC, BCH, ETH, ETC, DASH, LTC, USDT, USDC, WXRP, GALA, FLR and SGB. We will only attempt to recover deposits that exceed the value of $2,500 at the time of deposit transaction and will charge the fee for the recovery attempt process. At the time of the recovery, the full fee amount ($500 or cryptocurrency equivalent) must be available in the customer’s hosted wallet. This attempt fee is charged automatically; no action from the claimant is required.

Unsupported token deposits including ICOs, airdrops, or blockchain forks will not be recovered or credited to your wallet.

6. Verifying who you are

To start using our Services, you will need to register on our Platform and perform a Know Your Customer (“KYC”) identification and verification procedure.

KYC is a user identification process to ensure that the identity of each user is appropriately verified. It is not only a legal requirement to assess and monitor risks, to prevent doing business with a money launderer, terrorist or other criminal, even more importantly, KYC is a fundamental practice to protect the Platform and its users from fraud and losses due to illegal funds and transactions.

We will strive to perform the KYC check within 24 hours, though sometimes the process may last longer.

You accept and agree that in cases where Lypotoex has:

• regulatory obligation to conduct enhanced due diligence (see next paragraph);
• obligation based on internal procedures;
• valid reasons to believe that:
  • your Account is used for money laundering or for any other illegal activity;
  • you have concealed or reported false identification information and other details;
  • there is a valid reason to believe that the transactions effected via your Account were affected in breach of this Terms of Use.

Lypotoex shall be entitled to require you to provide any additional information and documents to clarify the circumstances. Transactions may be temporarily frozen until the documents are reviewed by us and accepted as satisfying the requirements of the legislation for counteracting laundering of monies from criminal activities and financing of terrorism. In case requested documents or other requested information is not provided to Lypotoex, your Account may be permanently closed.

Lypotoex can request from you any additional identifying information and supporting documentation at any time at the request of any competent authority or in case of application of any applicable law or regulation, including laws related to anti-money laundering of monies obtained by criminal means, or for counteracting financing of terrorism.

If additional requested documents or information are not provided to us, we may temporarily limit the functionalities within your Account, including freezing the transactions. In case requested documents or information are not provided after such temporary measures were imposed, we may terminate your Account permanently.

You are liable that provided information, as stipulated in the article 3 and 4, are accurate and complete. If provided information changes after the KYC process is completed, you are obliged to send us the updated information.

7. Identification and Verification: Individual Account

The information we may request for the purpose of identification and verification of individuals includes, but is not limited to:

• a recording of you (selfie or video);
• ID documents – driver’s license, national identity card or international passport;
• proof of address documents – utility bills or bank statements issued within the last three months;
• information about the expected volume;
• source and proof of funds;
• purpose of opening your Account.

Lypotoex uses a video identification process which involves you recording a video or video is recorded by our operator which will record your ID and face. The purpose of this procedure is to streamline the identification process to enable you to be included as a user. The information which is recorded during this process will be checked, analysed, verified, and confirmed by Lypotoex, or its partners.

In addition to video identification Lypotoex might also use other means of identification if this is compliant with the local regulation.

8. Identification and Verification: Company Account

The information we may request for the purpose of identification and verification of companies includes, but is not limited to:

• Company name;
• Company address;
• Company type;
• Date of incorporation;
• Country of incorporation;
• Trade or registration ID;
• Tax / VAT ID;
• Source and proof of funds;
• Information about the expected volume;
• Company bank account; and
• General purpose of Account (reason for opening).

Beneficial Owners information (all persons / entities with a control share or voting power equal or over 10%):

• Legal name;
• Date of birth;
• Citizenship;
• Address; and
• Gender.

Company documents:

• Certificate of incorporation;
• Recent bank statement;
• Board or owner resolution of Account opening;
• Annual return with details of shareholders; or
• Company Organisation structure.

After successful verification by Lypotoex, our users will be able to trade cryptoassets using their own XRPL wallets natively on the XRP Ledger, as well as trade cryptoassets using their Lypotoex custodial wallet (Hosted Wallet).

9. Sanctions

Lypotoex is prohibited from transacting with individuals, companies and countries that are on prescribed sanctions lists. Lypotoex will therefore screen against United Nations, European Union, UK Treasury, Lists from Slovenian Authorities, and US Office of Foreign Assets Control (OFAC) sanctions lists in all jurisdictions in which we operate.

It is your own responsibility to follow those rules and laws in your country of residence and/or country from which you access this Platform and the Services.

10. Your Consent

As long as you agree to and comply with these Terms of Use, Lypotoex grants to you a personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Services.

11. Funding Your Account

Users can move assets in and out of their wallets using multiple gateways and custodians.

The Lypotoex Crypto gateway is your default gateway, and you will automatically have access to this gateway by opening a Lypotoex Account. This agreement relates to the Lypotoex Crypto gateway. Separate terms apply to additional gateways.

12. Card Top-up

These “Card top-up Terms of Use” (“Terms”) apply to debit or credit card top-up of your Account (“Service”). Service is provided by Stripe (https://stripe.com) (“appointed payment services provider”).

Since the top-up is a service provided by the appointed payment services provider, terms of use from such provider may apply. Upon submission of your request, it will be channelled to an appointed payment services provider. Use of debit or credit cards via the Service and processing of the card by the appointed payment services provider are subject to the terms and conditions of the card issuer and the appointed payment services provider respectively.

You can top-up your Account with a credit or debit card, Google Pay, Apple Pay.

“Top-up” means a quick payment that you made from a credit or debit card whose authorised holder or user you are using the remote access tool.

Transaction amount is credited to your Account and made available for use immediately after successful authorization of Top-up.

Once initiated, card top-up cannot be cancelled.

Any unspent card-top up funds may be refunded to your payment card upon request.

Number of top-ups is not limited.

Availability of Service is limited to fully verified Accounts of users from all European Union countries (both conditions need to be met).

In addition to the above two conditions accepting this Terms is mandatory to be eligible for the use of Service.

The availability of Apple Pay or Google Pay (applicable to credit or debit cards issued by Visa or Mastercard only) depends on your device and your place or residence. For more information on the availability of Apple Pay see https://www.apple.com/ios/feature-availability/#apple-pay, or https://pay.google.com/ for Google Pay.

You acknowledge that you are responsible for ensuring the information submitted through our webpage is accurate and correct to ensure successful processing of your request.

The Fees we charge to process the Service are detailed in our Fee Schedule, available at https://Lypotoex.net/fees.

Our appointed payment services provider may save and store payment information – information related to the card that you have entered on our website when you make a card top-up.

This information might include the following: credit card or debit card numbers, card expiration dates.

Such stored payment information may be used as your default payment method for further card top-up on our website or mobile app.

At any time, you can delete your card information or enter new card information.

If your card has expired, the payment information relating to that particular card will not be stored anymore by our payment service provider and you will be prompted to indicate your new card information the next time you want to proceed with a card top-up.

You consent to Lypotoex updating such stored information from time to time based on information provided by you, your bank or other payments services providers. You must use a debit or credit card that matches the name on your Lypotoex Account.

You further consent and acknowledge that all of our computer records are deemed as conclusive evidence of your instructions to us and use of the Service.

While we will use reasonable endeavours to ensure our website, including portal for the Service, is secure, we do not warrant the security or confidentiality of any information you submit via the webpage including the payment system of the appointed payment services provider. We are not liable for any interception, hacking or other unauthorised access to information provided by you when using the Service.

We will provide the Service to you on “as is” and “as available” basis and you agree and accept that you use the Service at your own risk. We do not make any representation and disclaim warranties of any kind in relation to the Service including but not limited to availability, accessibility, timeliness and uninterrupted use of the Service; or sequence, accuracy, completeness, timeliness or the security of any information transmitted using the Service and we also disclaim all implied warranties of merchantability, fitness for a particular purpose and non-infringement to the fullest extent allowed by law.

We will not be liable to you or to any persons claiming through you for any costs, loss or damage (whether direct or indirect), or for loss of revenue, loss of profits or any special or consequential loss including loss of profits, data, revenue, business and anticipated savings of any nature whatsoever.

13. Provisions for the UK customers

New Customers from the United Kingdom (“UK”) have fully restricted access to the Platform. These Customers do not have access to the custodial wallet services offered through the Platform or access to the non-custodial wallets. Geo-blocking is activated.

For existing UK Customers who created custodial wallets before October 2023, restricted access to the fiat (GBP or any other fiat currency) or crypto deposit function within our Platform applies. For these Customers, the Platform has fully disabled the deposit function and exchange function (sell/purchase of Customer’s funds).

The existing UK Customers can only initiate withdrawal of their fiat or crypto funds from their custodial and non-custodial wallets.

Restrictions and limitations from the previous paragraphs apply for natural and legal persons.