Terms and Conditions

These Terms and Conditions (the “Terms”) constitute a legal agreement between you and Kayo Exchange UAB, Perkūnkiemio gatve 13-91, 12114 Vilnius, Lithuania, Registration number: 306067763, www.kayo.exchange (hereinafter "Kayo Exchange" or "we") governing the use of our website and our services.

1. Acknowledgements

  1. The services of Kayo Exchange are intended to be used solely by users, natural or legal persons, who are residents, or have their seat in a country where trading virtual assets is legal and not prohibited or restricted, and countries where no special license is required.
  2. Fiat-to-virtual currency and virtual currency-to-virtual currency transactions are excluded for users, natural or legal persons, who are residents, are incorporated or have its real seat in the United States
  3. Depending on your country of residence, statutory seat or place of incorporation, you may be restricted or prohibited to use some or all the functions of this website. It is your responsibility to follow those rules and the laws of your country of residence and/or country from which you access this website and services that Kayo Exchange offers.
  4. Any kind of trading of virtual assets and virtual currencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the virtual currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks. Your virtual assets may be lost by losing your password or other security codes.
  5. Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies (hereinafter also crypto currencies) are an autonomous and largely unregulated system of firms and individuals issuing currencies. The risk of loss in trading, buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether trading in virtual assets / currency or any levered or derivative virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis.
  6. Kayo Exchange does not provide and will never provide any investment advice in connection with the Services.
  7. Any decision to purchase or sell virtual assets is solely your decision and we shall not be liable for any loss suffered. Please note that after you transfer the virtual assets to a certain virtual assets wallet account such transfer cannot be revoked and we do not accept any responsibility for your actions.

2. Terms of use

  1. The provisions set out in these Terms govern your access to and your use of our website and shall constitute a legally binding agreement between you and us. We may change such terms from time to time and shall notify you accordingly if we do. If you do not agree to such terms, you must not use our website.
  2. . Subject to you agreeing to abide by these Terms, we hereby grant to you a revocable, nonexclusive and non-transferable licence to use our website on these Terms.
  3. By registering for an Account, which involves providing us with certain mandatory and voluntary information as required for a successful registration and using our website, you agree and acknowledge that:
    1. you are at least 18 years old and have the full legal capacity and an appropriate business capacity to accept these Terms;
    2. you have read the terms set out in these Terms and agree to be bound by and comply with them; and
    3. you shall ensure that all Users of your Account abide by these Terms.
  4. You are responsible for maintaining the confidentiality of your Account and you are responsible for all activities that occur under your Account. You agree that all actions carried out by any person through your Account shall be deemed to be an act carried out by you, and you shall ensure that all persons who have access to and use your Account are authorised to do so. We are not responsible for any loss, damage or liabilities arising as a result of or in connection with the wrongful, fraudulent or illegal use of your Account.
  5. We reserve the right to, without any notice, explanation or liability and in our sole discretion, refuse to allow you or suspend your access to our website or your Account at any time, or remove or edit content on our website or on any of our affiliated websites.
  6. We reserve the right to change, modify, suspend or discontinue any portion of the Services, our website or any other products, services, affiliated websites (including social media pages) and/or other software provided by us in connection with any of the foregoing at any time. You agree that access to or operation of any of the foregoing may from time to time be interrupted or encounter technical difficulties.
  7. Save to the extent permitted by us in writing, you are not permitted to use, or submit any content to, our website or any of our affiliated websites to advertise, promote or market any products or services of any third party or yourself.
  8. The following additional terms also apply to your use of our website and form part of these Terms:
    1. Our Acceptable Use Policy
    2. Our Privacy Policy
    3. Our Cookie Policy
    4. Our Refund and Cancellation Policy

3. Our Services

  1. The exchange services, operated by Kayo Exchange, allow users to buy and exchange virtual currencies. Our exchange does not offer any coins or tokens that are or might be considered as securities.
  2. Kayo Exchange services allows registered users to buy and exchange virtual currency for fiat money and vice versa.
  3. We do not purchase, sell, own, or exchange any Crypto Assets and all Crypto Assets are traded and/or exchanged by and between our users and originate from the relevant user.
  4. All Crypto Assets are transferred between our Users and are used for trading on our website and are deposited into and held in the relevant User wallet.
  5. The exchange value will be seen when placing an order, however the user hereby explicitly agrees the final exchange value will be seen after the order shall be processed due to the time difference in transfer execution during which the value of virtual currency may change.
  6. Kayo Exchange reserves the right to remove any of exchanging pairs in the future.
  7. All prices on the Kayo Exchange website are shown as selected by you the User.
  8. Kayo Exchange offers users to buy virtual currencies with debit cards, credit cards or other payment methods.
  9. Kayo Exchange reserves the right to add other means of payment in the future.
  10. Users are able to make a purchase in their chosen currency, however conversion rates can bring an additional cost onto the user.
  11. You may request a withdrawal of your virtual assets of fiat equivalent of such assets, subject to the limitations as stated in the Terms.
  12. The amount of funds for payments and withdrawals of fiat money are limited per day and per month. For the purpose of purchasing virtual currency a user may be subject to a maximum daily deposit and maximum monthly deposit limitation based on internal AML and CFT rules.
  13. In case a user exceeds the set limits, additional inquiry with regard to AML and CTF prevention measures shall be taken in order to proceed with the transfer or the funds are processed next business day or month. In case additional internal due diligence checks are not successfully implemented by the user the excess funds will be automatically returned to the user’s bank account from which the user has made payment.

4. Fees for services and exchange rates

  1. Kayo Exchange operates on the basis of fees exclusively and shall not issue any invoices. Fees may be incurred for part of the Services provided by Kayo Exchange to its users. You shall abide by relevant agreements while using such services. Kayo Exchange may change the fee models and structures of such services as the case may be and at any given time. Kayo Exchange may also start charging fees on free services, if there are any. Kayo Exchange shall release an announcement or put up a notice on a respective page before the above-mentioned changes or modifications are made and come into force.
  2. Kayo Exchange may also charge administration fee upon returning funds back to user’s bank account in cases when user’s account has been disabled permanently due to the suspicious activity on user’s Kayo Exchange account and user failed to additionally verify his identity and (where applicable) source of funds/wealth.

5. Closing your account

  1. You may close your account at any time. In case you wish to do so, you will need to move your virtual assets to another wallet first. In case there is also a fiat balance shown in your wallet, Kayo Exchange will return fiat assets and transfer them to your bank account, which you have previously connected to your Kayo Exchange account. By deleting your account, additional processing and bank costs may arise for the user. If you have purchased virtual currencies only by using your Credit Card and have not yet connected your Bank account with Kayo Exchange account, you will have to connect your bank account with your Kayo Exchange account in order to get a refund of your fiat money.
  2. If you are closing your Kayo Exchange account, you do not delete your personal data, which we have obtained in the KYC process. Even when closing your Kayo Exchange account, you will still be obligated to fulfill your responsibilities on pending transactions. In addition, you are responsible to Kayo Exchange for any fees incurred before the closure.
  3. . Kayo Exchange may also terminate your account at any time and at our sole discretion, upon notice to you by e-mail or other communication channels. It is in our sole discretion to suspend your access to the Services if it is suspected that you have failed to comply with these Terms, pose an unacceptable fraud or regulatory risk to Kayo Exchange or if you provide any false, incomplete, inaccurate or misleading information. Kayo Exchange will not be liable to you for any losses incurred in connection with the closure or suspension of your account by Kayo Exchange.

6. Blocking And Account Deletion

  1. If there is concrete evidence that a user is violating legal regulations, the rights of third parties, the Kayo Exchange Terms or the Kayo Exchange principles, Kayo Exchange may take the following measures - taking into account the legitimate interests of the respective user - at its own discretion:
    1. delete offers or other content,
    2. limit or restrict the use of the website,
    3. warn users,
    4. temporarily block the user's account or wallet.
  2. Facts which are suitable to justify termination of the user relationship without notice also justify a permanent blocking of the user account. Facts justifying termination without notice shall be deemed to exist in particular if
    1. the user has provided false information when registering,
    2. there is a recognizable misuse of the trading website,
    3. the functioning of the trading website is damaged or impaired by the user,
    4. there is a breach of other statutory provisions, third party rights or these Terms.
  3. In the event of termination by Kayo Exchange, the user is not entitled to access Kayo Exchange and may not use any other Services offered by Kayo Exchange.

7. Know Your Customer (“KYC”) and Anti Money-Laundering (“AML”)

  1. Kayo Exchange is a virtual exchange, having acquired two operating licenses by the Financial Intelligence Unit, namely for Providing services of exchanging a virtual currency against fiat currency.
  2. Kayo Exchange has the right to know the real transaction background and purpose of the users who use our product or our service. Users should always provide the real, comprehensive, accurate information required by Kayo Exchange and its procedure; if Kayo Exchange has reasonable grounds to suspect that the user has provided false trading information or identity information, Kayo Exchange is entitled to restrict the user from the use of the exchange for some or all products and services functions temporarily or permanently. Each user is allowed to create and use one account only. If a user will try to open multiple accounts, Kayo Exchange shall have the discretion to not verify it and block it.
  3. Kayo Exchange has a strict obligation to assess all the transactions from the anti-money laundering and counter-terrorist financing regulations and report the suspicious transactions to the regulator.

8. Disputes

If a dispute arises between users, we strongly encourage users to first contact each other directly to seek a resolution. Kayo Exchange is available for every user to submit complaints and other inquiries. We will consider reasonable requests but are not obligated to resolve a dispute between users.

9. Uploading content to our website

  1. You irrevocably and unconditionally represent and warrant that any of your content uploaded to our website complies with all applicable laws.
  2. You are fully responsible for your content uploaded to our website. We will not be responsible, or liable to any third party, for:
    1. the content or accuracy of any content or data uploaded by you, by us on your behalf, or any other user of our website; or
    2. the loss of any content or data provided to us by you. You should keep a record of all such content and data (including for the avoidance of doubt any insurance policies).
  3. We will only use the content uploaded by you for the purposes of carrying out the Services, carrying out our obligations in this Agreement and any other purpose expressly set out in this Agreement or otherwise agreed between us. We will not otherwise disclose or distribute the content uploaded by you, save for when required by law, a court of competent jurisdiction or any governmental or regulatory authority.
  4. We may use the content uploaded by you for the purpose of data analytics or to implement artificial intelligence or machine learning. Any such content shall be anonymised and used only for the purposes of improving the Services and our response to users of the website.
  5. We have the right to disclose your identity to any third party claiming that any content posted or uploaded by you to our website constitutes a violation of their rights under applicable law.

10. Prohibited uses

  1. You may use our website only for lawful purposes. You may not use our website:
    1. in any way that breaches any applicable local or international laws or regulations;
    2. in any way that is unlawful or fraudulent, or has any unlawful or fraudulent purpose or effect;
    3. to send, knowingly receive, upload, download, use or re-use any material which does not comply with our content standards as set out in our prevailing terms and conditions as amended from time to time; and
    4. to knowingly transmit any data, send or upload any material that contains viruses, Trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programs or similar computer code designed to adversely affect the operation of any computer software or hardware.
  2. You also agree:
    1. not to reproduce, duplicate, copy or re-sell any part of our website in contravention of the provisions of our Terms; and
    2. not to access without authority, interfere with, damage or disrupt:
    3. any part of our website;
    4. any equipment or network on which our website is stored;
    5. any software used in the provision of our website; or
    6. any equipment or network or software owned or used by any third party.

11. Restrictions

  1. Except as expressly set out in this Agreement or as permitted by any applicable law, you undertake:
    1. not to reproduce, copy, modify, adapt, translate, publish, display, communicate, transmit, sell, exploit or use the whole or any part of any Service, our website or any of the contents therein for any commercial or other purposes;
    2. not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the source code of our website nor attempt to do any such thing, or to reproduce, display or otherwise provide access to the Services, our website or any of the contents therein, including but not limited to framing, mirroring, linking, spidering, scraping or any other technological means;
    3. not to provide or otherwise make available our website in whole or in part (including but not limited to program listings, object and source program listings, object code and source code), in any form to any person without prior written consent from us;
    4. to include our copyright notice on all entire and partial copies you make of our website on any medium;
    5. to comply with all applicable technology control or export laws and regulations; and
    6. not to disrupt, disable, or otherwise impair the proper working of the Services, our website or our servers, such as through hacking, cyber-attacks (including but not limited to denial-of-service attacks), tampering or reprogramming.

12. Intellectual Property Rights

  1. You acknowledge that all intellectual property rights in our website anywhere in the world belong to us, that rights in our website are licensed (not sold) to you, and that you have no rights in, or to, our website other than the right to use them in accordance with these Terms.
  2. Any intellectual property rights in content uploaded by you to our website shall continue to belong to you or their respective owners. You agree that you grant us a royaltyfree and non-exclusive licence to use, reproduce, publish and display such intellectual property rights for the purposes of performing the Services, promotional purposes, internal administrative purposes and any other purposes set out in these Terms, including for the purpose of improving the Services and our responses to users of the website.
  3. You acknowledge that you have no right to have access to our website in source code form.
  4. You must not modify the paper or digital copies of any materials you have printed off or downloaded from our website in any way and you must not use any illustrations, photographs, video or audio sequences or any graphics separately from any accompanying text.
  5. Our status (and that of any identified contributors) as the authors of content on our website must always be acknowledged.
  6. You must not use any part of the content on our website for commercial purposes not specified on our website without obtaining a licence to do so from us or our licensors.

13. Warranties

  1. While we make all efforts to maintain the accuracy of the information on our website, we provide the Services, website and all Related Content on an “as is” and “as available” basis, unless otherwise specified in writing. We make no representations or warranties of any kind, express or implied, as to the operation of any of the foregoing, unless otherwise specified in writing.
  2. To the full extent permissible by law, we disclaim all warranties, express or implied, relating to our website or any Services, including but not limited to implied warranties of merchantability and fitness for a particular purpose. We do not warrant that the Services, our website, the Related Content, or electronic communications sent by us are free of viruses or other harmful components.

14. Limitation of liability

  1. We are not liable for the completeness, accuracy or correctness of any information uploaded on our website and any Related Content. You expressly agree that your use of the Services and our website is at your sole risk.
  2. You agree not to use the Services, our website and the Related Content for any re-sale purposes, and we have no liability to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, arising under or in connection with these Terms (including but not limited to the use of, or inability to use, the Services, our website or any other website or software) for:
    1. loss of profits, sales, business, or revenue;
    2. business interruption;
    3. loss of anticipated savings;
    4. loss or corruption of data or information;
    5. loss of business opportunity, goodwill or reputation; or
    6. any other indirect or consequential loss or damage.
  3. Nothing in these Terms shall limit or exclude our liability for:
    1. death or personal injury resulting from our negligence;
    2. any other matter in respect of which we are prohibited under applicable law from limiting or excluding our liability.
  4. Our website is not intended to serve a record-keeping function and we shall not be liable for any loss of data or content.
  5. These Terms set out the full extent of our obligations and liabilities in respect of the supply of the Services and our website. Except as expressly stated in these Terms, there are no conditions, warranties, representations or other terms, express or implied, that are binding on us. Any condition, warranty, representation or other term concerning the supply of the Services and our website which might otherwise be implied into, or incorporated in, these Terms whether by statute, common law or otherwise, is excluded to the fullest extent permitted by law.

15. Indemnity

You agree to indemnify and hold us, our related corporations and our respective directors, officers, employees, agents and representatives, independent contractors, licensees, successors and assigns harmless from and against all claims, losses, expenses, damages and costs (including but not limited to direct, incidental, consequential, exemplary and indirect damages), and reasonable legal fees, resulting from or arising out of your act, default or omission, whether in your use of our website, Services, and/or any websites or software in relation thereto or otherwise, and whether in respect of your breach of these Terms or any laws or regulations or otherwise.

16. Other important terms

  1. We may transfer our rights and obligations under these Terms to another organisation, but this will not affect your rights or obligations under these Terms.
  2. You may only transfer your rights or your obligations under these Terms to another person if we agree in writing.
  3. No joint venture, partnership or agency or employment relationship has arisen by reason of these Terms
  4. These Terms and any document expressly referred to in it constitutes the entire agreement between us regarding their subject matter, and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to that subject matter. You agree that you shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms or any document expressly referred to in it. You agree that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in these Terms or any document expressly referred to in it.
  5. If we fail to insist that you perform any of your obligations under these Terms, or if we do not enforce our rights against you, or if we delay in doing so, that will not mean that we have waived our rights against you and will not mean that you do not have to comply with those obligations. If we do waive a default by you, we will only do so in writing, and that will not mean that we will automatically waive any later default by you.
  6. Each of the conditions of these Terms operates separately. If any court or competent authority decides that any of them are unlawful or unenforceable, the remaining conditions will remain in full force and effect.
  7. These Terms, its subject matter and its formation, and any other disputes or claims in connection therewith, are governed by Lithuania law. In the event of any such disputes or claims in connection with these Terms, you agree to first engage in good faith discussions with us to resolve such dispute or claim. If such dispute or claim is not resolved within sixty (60) days, we both irrevocably submit to the exclusive jurisdiction of the courts of Lithuania.

Kayo Exchange UAB

Our online service is a unique exchanger for buying various cryptocurrencies directly from a bank card.

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