Do you want to use Coin on Ramp and their services because they provide fast and simple exchange? Yet, you don’t have the time to read through their Terms and Conditions. Maybe you have the time, but it’s written in such a complicated way that you stop half-way and realize you barely understood something.
Don’t worry. That’s precisely why this article is here. It’s a summary of the Terms and Conditions between Coin on Ramp and their users so that you can find out all the necessary information in just a couple of minutes.
Terms and Conditions
Overview of Services and Fees
- Coin on Ramp is a digital platform for acquiring, trading, storage, and other services related to specific digital assets. Only those with a valid OnRamp account can use the services.
- You agree to pay all necessary fees and oblige to any updates that may take place in the future. Any changes will be applicable following the provided effective date. You authorize the platform to remove any owed funds from your OnRamp account.
Risk Disclosure Statement
- Using their services, you agree to acquire, transfer, trade, lend, or hold digital assets with certain risks, including losing, owing, unable to receive digital assets, or any other financial loss. You are responsible for these activities as you have sufficient knowledge and experience before any financial activities.
Eligibility
Individual Users
- You are 18 years old or older;
- You aren’t listed on the Monetary Authority of Spain’s Lists of Designated Individuals and Entities or OFAC’s Specially Designated Nationals and Blocked Person List;
- You haven’t previously been suspended or prohibited;
Corporate Users
- You have the authority of Corporate User to bind them to the Terms;
- The Corporate User has authority to enter the Terms;
- You as an individual or the Corporate User aren’t listed on the Monetary Authority of Spain’s Lists of Designated Individuals and Entities or OFAC’s Specially Designated Nationals and Blocked Person List;
- You as an individual or the Corporate User haven’t previously been suspended or prohibited;
You can’t use the services if you are located in any prohibited locations (currently North Korea, Iran, Cuba, Sudan, and Syria). Some controls may be implemented to restrict access from a prohibited location.
You must notify Centergate Retails SL if you or your relative is to become a politically exposed person. This includes the head of state, a senior politician, a senior government, judicial or military official, a senior executive of a state‐owned corporation, or an important political party official.
Organized Crime and Coercive Activities
- You are not connected to organized crime or coercive activities in any way. If you are a Corporate User, this also applies to your employees.
OnRamp Accounts
- You must create your account by following the registration process. All information provided must be complete, accurate, and updated.
- Various security procedures might be organized, but you are responsible for the security of your account. If you notice unauthorized activity on your account, report it immediately.
- The platform may monitor some transactions in protection from any illegal activities.
Currency Support and Entitlement
- Coin on Ramp controls which digital assets and currencies are available
- You can use only the approved currencies.
- The platform can terminate your transactions without notice.
Legal Tender Deposits and Withdrawals
- An external bank account with your name needs to be provided for transferring currency to or from an OnRamp account. Coin on Ramp isn’t responsible for any external bank accounts.
- You can withdraw and deposit funds at any time, but processing time can vary.
Digital Asset Storage, Deposits, and Withdrawals
- You may need to provide an external address for transactions to and from OnRamp accounts.
- The platform stores and manages digital asset private keys.
- For deposits, you must transfer the assets from an external address only in approved currency.
- For withdrawals, you can transfer any amount as long as there is a minimum required balance on your OnRamp account.
- Processing time for these activities can vary.
Digital Asset Trading
- Before trading, you must have sufficient funds on your account.
- You are responsible for maintaining your account.
Lending Feature
- Allows some users to borrow assets. This agreement is between the Borrower and the Lender, and the platform isn’t responsible in any way.
No Brokerage; No Investment or Expert Advice
- The digital platform is not an advisor, trader, broker, or agent, so they can’t help or assist when making decisions.
- They also don’t provide any expert advice on tax and trades, nor do they endorse any behavior.
Changes; Suspension; Termination
- The platform can terminate, suspend, and restrict anyone with or without notice.
- You can request to deactivate your account at any time.
Prohibited Activities
- Violation or assistance in violation of any regulation, illegal activities including money-laundering, fraud, gambling, tax evasion, or others;
- Engaging in a relationship with other users that can violate legal rights;
- Collect information about other users and third parties;
- Post inappropriate content (sexual, abusive, threatening, fraudulent, etc.);
- Impair the services in any way;
- Illegally extract data;
- Any other violation of the Terms;
Electronic Notices
- You agree to receive electronic copies of all communications – agreements, notices, documents, receipts, and others. These copies can be sent to you by the means you provide – e-mail, SMS, or any other messaging service or application.
- If you provide incorrect information, the platform isn’t responsible for the unsuccessful delivery.
Proprietary Rights
- The platform provides its users with a limited, non‐transferable, revocable license.
- You’re not allowed to copy or imitate the trademarked logo, service name, or anything connected to Coin on Ramp.
Conclusion
In sum, here you can quickly read everything you might need to know about Coin on Ramp’s Terms and Conditions. You don’t have to worry anymore about lengthy paragraphs and complicated language, as this article will give you insight into all the necessary information you need for using the platform.