Terms Of Use

By signing up with the Bithumb Singapore website (the “Site”) to use the account and services made available through the Site (collectively, the “Services”), a user (the “User”, the “you”, or the “your” and collectively, the “Users”) agree to be bound by these Terms of Use (the “Terms”).

The Services are owned and controlled by RDMCHAIN PTE. LTD. (the “Bithumb Singapore”) under the laws of Singapore, and these Terms “we,” “us,” and “our” refer to RDMCHAIN PTE. LTD. These Terms affect your legal rights and obligations. If you do not agree to be bound by these Terms, do not sign up with Bithumb Singapore.

Bithumb Singapore reserves the right to change or modify these Terms, including but not limited to, any policy or guideline of the Site, at any time and at its sole discretion. We will provide notice of these changes by posting the revised Terms to the Site and changing the last revised date written at the bottom of these Terms (the “Effective Date”), or by emailing Users at their provided email addresses, or by any other means as determined by Bithumb Singapore. Method of notification will be left to Bithumb Singapore’s sole discretion. Using a particular form of notice in some instances does not obligate us to use the same form in other instances. Any changes or modifications will be effective from the Effective Date, immediately upon posting the revisions to the Site, or at the instant that Bithumb Singapore transmits the information to the Users (e.g. via email). These changes will apply at that instant to all then current and subsequent uses of the Site. Since you waive any right, you may have to receive specific notice of such changes or modifications. Your continued use of this Site acts as acceptance of such changes or modifications. If you do not agree to these Terms in effect when you access or use the Site, you must stop using the Site by canceling an account set forth in ARTICLE 15.3.

PREAMBLE

The Bithumb Singapore provides the online service platform (the “Platform”) which allows Users to trade or exchange Digital Assets or Digital Payment Tokens (the “DPT” and collectively, the “DPTs”) one another.

DPTs shall include Bitcoin (BTC), Ethereum (ETH), and any other digital assets, virtual or cryptocurrencies, digital tokens or electronic money, which can be traded or exchanged though our Platform from time to time as determined by Bithumb Singapore in its sole and absolute discretion.

Bithumb Singapore does not support, provide, or list DPTs which are fall within the definition of “Securities”, “Securities-based derivatives contract” or units of a “Collective investment scheme” under the Securities and Futures Act (Cap 289) of Singapore and its subsidiary legislation (the “SFA”).

ARTICLE 1. ELIGIBILITY

1.1. All visitors may access specific public areas of the Site. However, only registered Users may access and use the Services as normal. To use the Services, the individual person who desires to become a User (the “Applicant”) will need to sign up with Bithumb Singapore subject. The application is subject to the Applicant providing Bithumb Singapore with such information and documentation to provide that the Applicant satisfies the following criteria:

  1. (a) The Applicant shall complete, to the satisfaction of Bithumb Singapore, a registration form provided by Bithumb Singapore online;
  2. (b) To be eligible to use the Services, the Applicant must be an adult eighteen (18) years of age and older, and has not previously been suspended or removed from the Site due to the illegal activities or abnormal use;
  3. (c) The Applicant’s eligibility to access the Services also depends on the country in which the Applicant resides. Residents of sanctioned countries are not allowed to use the Services and list of such countries can be found in the page of FAQ;
  4. (d) The Applicant shall provide, to meet requirements of Bithumb Singapore, such information and supporting documentation as may be required by Bithumb Singapore to conduct KYC, process the application, and pass the KYC procedure as determined by Bithumb Singapore complying with internal policies of Bithumb Singapore;
  5. (e) The Applicant shall have no indicia of being connected with money laundering or terrorist financing as determined by Bithumb Singapore in its sole discretion;
  6. (f) The Applicant shall be of legal capacity to enter in a contract;
  7. (g) The Applicant shall be the beneficial owner of the Account and confirm that the application is made on itself and that the Account is used by itself, and not as an agent for any third parties;
  8. (h) The Applicant shall consent and agree to Privacy Policy and these Terms;
  9. (i) The Applicant shall satisfy such other criteria and procedures as Bithumb Singapore may determine from time to time following our internal policies or as required by Applicable Law; and
  10. (j) The continued use of the Services by the User shall be subject to the above eligibility criteria, applied with the necessary modifications. Bithumb Singapore may, in its sole discretion, refuse to open the Account for the Applicant.
1.2. The Applicant and User agree to provide Bithumb Singapore with the information requested for identity verification, and the detection of money laundering, terrorist financing, fraud, or any other financial crime and Bithumb Singapore is permitted to keep a record of such information. The Applicant and User are required to complete specific verification procedures before being allowed to use or continue to use the Services, and the limits that apply to the use of the Services may change as a result of the information collected on an ongoing basis. The information requested by Bithumb Singapore will include the Applicant and User’s Personal Data set forth in the Privacy Policy.

1.3. The Applicant and user agree to keep Bithumb Singapore updated if any of the information provided changes. Bithumb Singapore is authorized to make the inquiries, whether directly or through third party service providers, which is considered necessary to verify the Applicant’s and User’s identity in order to protect them against fraud or other financial crime, and to act as Bithumb Singapore reasonably deem necessary based on the results of such inquiries. When Bithumb Singapore implements these inquiries, the Applicant and User acknowledge and agree that its Personal Data may be shared and disclosed to and used by such third party credit reference, fraud prevention and financial crime authorities. In addition, Bithumb Singapore may require that you wait for some time before completion of a transaction, before permitting User to use further Services and before allowing User to engage in transactions beyond specific volume or threshold limit.

1.4. Bithumb Singapore may require the Applicant and User to promptly submit additional information about itself or its relevant third parties, if necessary (such process, “Enhanced Due Diligence”). Bithumb Singapore reserves the right to charge the Applicant / User costs associated with such Enhanced Due Diligence although if Bithumb Singapore intends to do so, it will notify User in advance. At our discretion, Bithumb Singapore may refuse to raise the User’s level or may lower the User’s level at a subsequent time even if Enhanced Due Diligence on the User or its relevant third parties is completed.

1.5. Applicants and Users are required to provide necessary information all the time and make sure to:

  1. (a) offer accurate, current and complete information when creating their Account;
  2. (b) maintain and promptly update their Account information to keep it accurate, complete, and up to date;
  3. (c) maintain the security and confidentiality of their login credentials and restrict access to their Account and their computer, tablet, or mobile device;
  4. (d) immediately notify Bithumb Singapore if they find out or otherwise suspect any security breaches regarding the Site or their Account; and
  5. (e) take responsibilities for all activities that take place under their Account and accept all risks of unauthorized access.

1.6. If the Bithumb Singapore accepts the Applicant’s registration, the Bithumb Singapore shall notify the Applicant of that effect. Applicants who do not receive such notification shall not make an attempt to use the Services through any accounts.

ARTICLE 2. ACCOUNT INITIAL FUNDING; THIRD PARTY TRANSFERS

2.1. To use the Services, you must create an account with Bithumb Singapore (the “Account”) through www.bithumbsg.com/create-account (the “Registration Page”).

2.2. Bithumb Singapore allows the Applicant to be able to create one (1) Account based on its phone number. In other words, one (1) phone number has one (1) Account only. This policy may change at any time in our sole discretion but these changes will be informed to all Users.

2.3. You must provide the Bithumb Singapore with the valid email address to create your Account. You agree to keep your email address on file with us updated. You understand and agree that if the Bithumb Singapore sends you an electronic communication but you do not receive it because your email address on file is incorrect or out of date, or because our email is blocked by your service provider or intercepted by your spam filter, or you are otherwise unable to receive electronic communications, the Bithumb Singapore will be deemed to have provided the communication to you regardless.

2.4. Bithumb Singapore does not provide Users with fiat or money trading capabilities as a part of the Services directly now. User can enjoy trading between DPTs only (e.g. Bitcoin and Ethereum).

2.5. In order for you to fund your Account and begin with trading, you will need to buy DPTs first through the third party service provider such as Simplex and Xanpool, or send your DPTs to the wallet address provided by Bithumb Singapore.

2.6. It is your responsibility to ensure that you send DPTs to the correct address provided for that particular DPTs, else your funds may never be recovered.

2.7. Bithumb Singapore makes no representations or warranties with regard to the amount of time that may be required to complete transfer of your DPTs from a third party wallet or other source and have such DPTs become available in your Account.

2.8. When you elect to transfer DPTs from your Account to a third party wallet or other external wallets that you use, it is always possible that your transfer may be turned down or that the transfer may fail because of technical or other matters affecting our Platform.

2.9. You agree that you shall not hold Bithumb Singapore liable for any damages arising out of a rejected transfer.

ARTICLE 3. PRIVACY POLICY

Your privacy is really important to us. We only share your information with third parties as outlined in our Privacy Policy or as required to do so by law enforcement, court order, or in compliance with identity verification or legal reporting obligations in Bithumb Singapore’s sole judgment.

ARTICLE 4. SECURITY OF USER INFORMATION

4.1. You are responsible for maintaining the confidentiality and security of any and all Account names, the Account itself, passwords and any other security feature that you use to access the Services. You are responsible for:

  1. (a) keeping your email address up to date in your Account profile; and
  2. (b) maintaining the confidentiality of your User information and the security of your Account, which includes the enabling of all relevant security features.

4.2. You agree to notify Bithumb Singapore immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services. Bithumb Singapore will not be liable for any loss or damage arising from your failure to protect your Account or information.

4.3. We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from Bithumb Singapore, you should contact us via the Customer Support.

4.4. We use reasonable efforts to protect your Account, and we need you to do the same. It is important that you always protect not only your password but also the email account associated with your Account and any device used to access your Account. We strongly advise you to enable two (2) factor authentication. This offers you greater protection from possible attackers attempting to log in to your Account than password alone. Please keep in mind that any failure of such obligation may result in unauthorized access of your Account, the loss, or the theft of DPTs supported by Bithumb Singapore. You must keep security details safe at all times. For instance, passwords and OTP authentication seeds are safeguarded and not shared or made visible to others.

ARTICLE 5. RISK DISCLOSURE STATEMENT

5.1. Bithumb Singapore intends to be licensed by the Monetary Authority (the “MAS”) of Singapore to provide DPT service. Please be aware that this does not mean you will be able to recover all the money that you paid to Bithumb Singapore if its business fails.

5.2. MAS requires us to provide this risk warning to you as a User of DPT service provider. Before you pay your DPT service provider any money or DPTs, you should be aware of the following:

  1. (a) Your DPT service provider intends to be licensed by MAS to provide DPT service. Please note that this does not mean you will be able to recover all the money or DPTs that you paid to your DPT service provider if its business fails;
  2. (b) You should not trade or exchange DPTs if you are not familiar with these DPTs. Trading or exchanging DPTs may not be suitable for you if you are not accustomed to the technology that DPT services are provided; and
  3. (c) You should be aware that the value of DPTs may fluctuate heavily. You should buy DPTs only if you are prepared to accept the risk of losing all the money you put into such tokens. Please keep in mind that you should never trade more than you can afford to lose.

ARTICLE 6. LIMITED LICENSE; IP RIGHTS

6.1. We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to these Terms, to access and use the Services solely for approved purposes as determined by Bithumb Singapore.

6.2. Any other use of the Services is expressly prohibited. Bithumb Singapore and its licensors reserve all rights in the Services and you agree that these Terms do not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorized by Bithumb Singapore, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part.

6.3. If you violate any portion of these Terms, your permission to access and use the Services may be terminated pursuant to these Terms. “bithumbsg.com”, “Bithumb Singapore” and all logos related to the Services are either trademarks, or registered marks of Bithumb Singapore or its licensors.

6.4. You shall not copy, imitate, or use them without Bithumb Singapore’s prior written consent. All right, title, and interest in and to the Site, any content thereon, the Services, all technology and any content created or derived from any of the foregoing is the exclusive property of Bithumb Singapore and its licensors.

6.5. We grant you access to use our products and Services, but we still own the intellectual property associated with these products and Services.

ARTICLE 7. COPYRIGHT

Bithumb Singapore owns and has copyrights on our site and our entire content. You shall not copy, reproduce, republish, upload, post, transmit, distribute, sell, transfer or modify any of the content, data, information or materials found on our site without prior written permission of Bithumb Singapore. Your use of and access to our site does not grant you any license or right to use any of our Site and content illegally. You will not take use of any robot, spider, other automatic device, or manual process to monitor materials available through our Site.

ARTICLE 8. ATTACKS ON BLOCKCHAIN NETWORKS

8.1. Singapore does not have any ability to prevent or mitigate attacks on blockchain networks. With respect to our Platform, we reserve the right to take the following commercially reasonable actions in the event of an attack:

  1. (a) If the Bithumb Singapore is able to confirm that DPTs active on our Platform have been compromised or is under attack, the Bithumb Singapore may promptly halt trading, deposits, and withdrawals for such DPTs; and
  2. (b) If it is determined that such an attack caused DPTs to greatly decrease in value, the Bithumb Singapore may discontinue trading activities on such DPTs entirely. The Bithumb Singapore does not have any obligation to engage in activities in relation to attacks on blockchain networks.

8.2. Resolutions regarding deposits, withdrawals, and User balances for attacked DPTs will be determined on a case-by-case basis by Bithumb Singapore in its sole discretion.

8.3. The Bithumb Singapore makes no representation and does not warrant the safety of the Platform and is not liable for any lost value or stolen property, whether Bithumb Singapore is negligent in providing the proper security or not.

ARTICLE 9. ANTI-MONEY LAUNDERING (AML) & COUNTER-TERRORIST FINANCING (CTF) COMPLIANCE

Our anti-money laundering (the “AML”) and counter-terrorist financing (the “CTF”) procedures are guided by all applicable rules and regulations regarding the AML and the CTF. These standards are designed to prevent the use of our Platform for money laundering or terrorist financing activities. We take compliance seriously and it is our policy to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.

ARTICLE 10. THIRD PARTY CONTENT

10.1 Bithumb Singapore and its Users may offer third party content on the Site and may provide links to web pages and content that are not owned or controlled by Bithumb Singapore (the “Third Party Content”) as a service to those interested in this information. Bithumb Singapore does not control, endorse, or adopt any Third Party Content and makes no representation or warranties of any kind with respect to the Third Party Content, including but not limited to its accuracy or completeness.

10.2. You acknowledge and agree that Bithumb Singapore is not responsible or liable in any manner for any Third Party Content and undertakes no responsibility to update or review any Third Party Content.

10.3. You acknowledge that your use of such Third Party Content is at your own risk. Your business dealings or correspondence with, or participation in promotions of, any third parties, and any terms, conditions, warranties, or representations associated with such dealings or promotions, are solely between you and such third parties. Bithumb Singapore is not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings or promotions or as the result of the presence of such Third Party Content on the Site.

ARTICLE 11. COPYRIGHT OF FEEDBACK MATERIALS

You acknowledge and agree that any materials, including but not limited to questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding Bithumb Singapore or the Services (the “Feedback”) that are provided by you, whether by email, posting to the Site or otherwise, are non-confidential and will become the sole property of Bithumb Singapore. Bithumb Singapore will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.

ARTICLE 12. USER CONDUCT AND OBLIGATIONS

12.1. In connection with your use of the Services and in addition to the list of prohibited activities above, you will not:

  1. (a) Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to become a member through your use of the Services;
  2. (b) Provide false, inaccurate, incomplete or misleading information;
  3. (c) Infringe upon Bithumb Singapore’s or any third party’s copyright, patent, trademark, or intellectual property rights;
  4. (d) Distribute unsolicited or unauthorized advertising or promotional material, any junk mail, spam, or chain letters;
  5. (e) Use a web crawler or similar technique to access our Services or to extract data;
  6. (f) Reverse engineer or disassemble any aspect of the Site or Services in an effort to access any source code, underlying ideas and concepts, and algorithms;
  7. (g) Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
  8. (h) Transmit or upload any material to the Site that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
  9. (i) Otherwise attempt to gain unauthorized access to the Site, other Bithumb Singapore Accounts, computer systems or networks connected to the Site, through password mining or any other means; or
  10. (j) Transfer any rights granted to you under these Terms.

12.2. Please keep in mind that if you breach any items out of the lists mentioned above, your Account shall be suspended or cancelled immediately without prior notice or warning.

ARTICLE 13. NO TRANSFERABILITY

While the Account and the Services provided to a User are not transferable under any circumstance and shall be used only by the User, Bithumb Singapore shall have the right to transfer, assign, or sell all the rights, benefits, or obligations to any person and these Terms shall continue to be in force and effect for the benefit of the successors and assigns of Bithumb Singapore or its lenders, if any.

ARTICLE 14. ELECTRONIC TRADING TERMS

14.1. The Bithumb Singapore does not own or control any of the underlying software through which blockchain networks are formed and DPTs are created and transacted. Generally, the underlying software for blockchain networks tends to be open source such that anyone can use, copy, modify, and distribute it.

14.2. By using the Services, you acknowledge and agree that:

  1. (a) the Bithumb Singapore is not responsible for operation of the underlying software and networks that support DPTs and the Bithumb Singapore makes no guarantee of functionality, security, or availability of such software and networks; and
  2. (d) the underlying protocols are likely to sudden changes in operating rules (a.k.a “Forks”), and that such Forks may materially affect the value, function, and/or even the name of the DPTs you store in your Account. In the event of a Fork, you agree that Bithumb Singapore may temporarily suspend the Services (with or without advance notice to you) and that Bithumb Singapore may, in its sole discretion:
    1. (1) configure or reconfigure its systems; or
    2. (2) decide not to support (or cease supporting) the Forked network entirely, provided, however, that you will have an opportunity to withdraw DPTs on at least one of still existent underlying networks. You acknowledge and agree that Bithumb Singapore assumes absolutely no responsibility whatsoever in respect of any underlying software protocols, whether Forked or not.

14.3. Bithumb Singapore may delist DPTs at any time in its sole discretion based on a number of factors, one of which may include changes in a given DPTs’ characteristics after Bithumb Singapore has listed the DPTs.

14.4. A transaction on the Platform may fail for several reasons, including but not limited to change in seller prices, insufficient transaction volume, or unanticipated technical difficulties. We make no representation or warrant that any transaction will be executed properly. Bithumb Singapore is under no circumstances liable for any loss or injury suffered by a failure of a transaction to complete properly or in a timely manner. Further, Bithumb Singapore is in no way responsible for notifying you of a transaction failure. The User has full responsibility to determine and inquire into the failure of any transaction the User initiates.

14.5. In the event that you receive any data, information, or software through our Services other than that which you are entitled to receive pursuant to these Terms, you will immediately inform us and will not use, in any way whatsoever, such data, information, or software. If you request a withdrawal of DPT and we cannot adhere to it without closing some part of your open orders, we will not follow the request until you have closed sufficient positions to allow you to make the withdrawal.

14.6. Bithumb Singapore may refuse to execute a trade, impose trade amount limits or restrictions at any time in its sole discretion without notice. Especially, Bithumb Singapore reserves the right to refuse to process, or the right to cancel or reverse, any transaction or disable a User’s deposit address on the Platform where Bithumb Singapore suspects the transaction involves money laundering, terrorist financing, fraud, or any other type of crime or if Bithumb Singapore suspects the transaction relates to a prohibited use as described in our Terms, including transactions containing the opening of an Account and subsequent closure without any actual trading occurring. Bithumb Singapore offers deposit Accounts to enable trading using the Services and does not allow Users to use such Accounts as a web wallet or address changing service. We reserve the right to halt deposit activity at our sole discretion. While Bithumb Singapore may in its discretion reverse a trade, a User may not change, withdraw, or cancel its authorization to make a transaction, except with regard to open orders.

14.7. Bithumb Singapore may correct, reverse, or cancel any trade impacted by an error in processing your purchase or otherwise. Your remedy in the event of an error will be limited. You may seek to cancel your order or obtain a refund of any amounts charged to you, although we cannot guarantee such cancellations or refunds will always be possible.

14.8. Bithumb Singapore provides its Users with a platform that allows their orders to be matched with the orders of other Users. Orders may be partially filled or may be filled by a number of orders, depending on the trading activity at the time an order is placed.

14.9. DPTs that are available for purchase through the Services may be likely to high or low transaction volume, liquidity, and volatility at any time for potentially extended periods. You acknowledge that while we are using commercially reasonable methods to give you information on the exchange rate through our Services, that information we offer may differ from prevailing exchange rates made available by third parties. Similarly, the actual market rate at the time of your trade may be different from the indicated prevailing rate depending on the velocity of trading in the DPTs involved in your trade. You agree that Bithumb Singapore is not liable for price fluctuations or differences in actual versus indicated rates.

14.10. In exchange for access to the Site and the Services, you agree to pay a fee on each settled transaction initiated by you (such fee, the “Trading Fee”). The current Trading Fee may be found on the Fee page (e.g. www.bithumbsg.com/support/fees) of the Site after you log into your Account. We reserve the right to change, modify or increase the Trading Fee at any time and from time to time. Any such changes, modifications or increases will be effective upon posting such changes, modifications or increases on the Site. If you do not agree to the posted changes, modifications, or increases, you may close the Account as provided herein. Your continued use of the Account following the posting of the modified Trading Fee as posted on the Site will constitute the acceptance of all such changes or revisions. Trading Fees are paid by both the buyer and seller in any given transaction. The buyer and seller will each be charged a fee in DPTs every transaction.

14.11. You agree at all times to maintain a sufficient balance in your Account to fulfill any relevant withdrawal fees. We reserve the right to refuse to allow your withdrawal requests about DPTs which fall below any applicable withdrawal fee.

ARTICLE 15. SUSPENSION OF SERVICE, ETC

15.1. If a below event applies to User, Bithumb Singapore may, without prior notice or demand, temporarily suspend that User from using the Service or cancel that User’s Account. In either of those cases, transactions which have already been executed will remain effective and cannot be cancelled or withdrawn:

  1. (a) User breaches these Terms;
  2. (b) User’s personal information is found to contain a false representation of fact;
  3. (c) User uses or attempts to use, the Service for a purpose, or in a method, that might damage Bithumb Singapore or other Users or any other third parties;
  4. (d) Irrespective of the means used, User interferes with the operation of the Service;
  5. (e) User dies;
  6. (f) User has no login histories for 12 months in a row. User is given a suspension notice by email one (1) month before the suspension of its Account. After the suspension, the User can activate its Account by following several verification steps. They can be seen when the User of this suspended Account attempts to log in to;
  7. (g) User cannot be reached by Bithumb Singapore via e-mail, telephone, or any other methods;
  8. (h) User uses socially unacceptable languages or behaviors towards Bithumb Singapore or an employee of Bithumb Singapore; and
  9. (i) Bithumb Singapore otherwise judges that it is inappropriate to continue User’s Account in its sole discretion.

15.2. The Bithumb Singapore is not liable for damage incurred by the User due to the Bithumb Singapore’s conducting an act under this ARTICLE 15.

15.3. User may cancel its Account via e.g. the Customer Support set forth in ARTICLE 34.1 in person, understanding that the Bithumb Singapore may suspend or terminate your ability to use the Services.

15.4. Even though User cancels its Account in accordance with the provisions of this ARTICLE 15, the Bithumb Singapore is not liable to return any documents, materials, others which were received from that User by the time of the suspension or cancellation, and, further, the Bithumb Singapore shall retain User’s personal information for the period prescribed by the Bithumb Singapore.

ARTICLE 16. OWNERSHIP OF DPTs

You hereby certify to us that any DPTs which you used in connection with the Platform are either owned by you or which you are validly authorized to carry out transactions using such DPTs, and that all transactions initiated with your Account are for your own Account and not on behalf of any other persons or entities.

ARTICLE 17. INDEMNIFICATION

You agree to indemnify, defend and hold the Bithumb Singapore, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees, and representatives, harmless from any claim or demand (including attorneys’ fees and costs and any fines, fees or penalties imposed by any regulatory authority) arising from or related to:

  1. (a) your breach of these Terms;
  2. (b) your use of Services; or
  3. (c) your violation of any law, rule, or regulation, or the rights of any third party.

ARTICLE 18. DISCLAIMER OF WARRANTEES

18.1. The Bithumb Singapore provides no guarantee as to the performance or the uninterrupted availability of the Services. The Services are provided on “AS IS”, “AS AVAILABLE” basis without warranties of any kinds, either express or implied. The Bithumb Singapore disclaims all warranties, express or implied, including without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement with regard to the Services. The Bithumb Singapore does not represent or warrant that the Services and the information contained therein are accurate, complete, reliable, current or error-free. The Bithumb Singapore will make reasonable efforts to ensure that transactions on the platform are processed in a timely manner, but makes no representations or warranties with respect to the amount of time needed to process such transactions. Since DPTs transfer on and off the platform are dependent upon many factors outside of our control including denial of service attacks and the liquidity of DPTs traded on our platform, among other factors, the Bithumb Singapore makes no representations or warranties regarding the success of, or the amount of time needed for, DPT transactions. You also acknowledge that any information that you store or transfer using the Services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, third party protocol changes, internet outages, third part denial of service attacks, acts of GOD or unscheduled maintenance. You are encouraged to back up and safeguard your information, including login credentials, at all times.

18.2. Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this ARTICLE 18 may not apply to you.

18.3. Additionally, you acknowledge that the Bithumb Singapore does not act or serve as your broker, intermediary, agent, or advisor with respect to any transaction you make or propose to make using the Services and owes you no fiduciary duty.

ARTICLE 19. LIMITATION OF LIABILITY

To the maximum extent permitted by law, the Bithumb Singapore shall have no liability for any damages of any kinds (including without limitation indirect, special, incidental, consequential, or tort damages, or lost profits) in connection with your use of the Services, even though the Bithumb Singapore has been advised or is aware of the possibility of such damages. In no event will Bithumb Singapore’s liability for money damages under these terms exceed the amount of fees received from you during the preceding six (6) month period.

ARTICLE 20. APPLICABLE LAW AND VENUE

The law governing Terms shall be the laws of Singapore and any dispute arising out of the use of the Services or in relation to Terms shall be submitted to the exclusive jurisdiction of the courts in Singapore.

ARTICLE 21. ARBITRATION

21.1. Any dispute arising from or in connection with this Terms of Use, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (the “SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (the “SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause.

21.2. The seat of the arbitration shall be Singapore. The tribunal shall consist of three (3) arbitrators, with the User appoint one of the arbitrators and the Bithumb Singapore another. The two (2) appointed arbitrators will together decide the third arbitrator. The language to be used in the arbitration shall be English. The award rendered by the arbitrators shall be final and binding upon the Parties.

ARTICLE 22. SURVIVAL

Upon termination of your account or this Agreement for any other reason, all rights and obligations of the parties that by their nature are continuing will survive such termination.

ARTICLE 23. SEVERABILITY; WAIVER

If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions. Any delay or failure by the Bithumb Singapore to enforce any of its rights shall not constitute a continuing waiver of such rights.

ARTICLE 24. INTEGRATION

The failure of us to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. These Terms and any policies or operating rules we posted constitutes the entire agreement and understanding between you and us and govern your use of the Services, superseding any prior or contemporaneous agreements, communications and proposals, whether oral or written, between you and us (including, but not limited to, any prior versions of these Terms). Any ambiguities in the interpretation of these Terms shall not be construed against the drafting party.

ARTICLE 25. FORCE MAJEURE

In addition to applicable disclaimers stated above, the Bithumb Singapore's performance under these Terms shall be excused in the event of interruption and/or delay due to, or resulting from, causes beyond its reasonable control, including but not limited to acts of God, acts of any government, war or other hostility, civil disorder, the elements, fire, flood, snow storm, earthquake, explosion, embargo, acts of terrorism, power failure, equipment failure, industrial or labor disputes or controversies, acts of any third party data provider(s) or other third party information provider(s), third party software, or communication method interruptions.

ARTICLE 26. GOVERNING LANGUAGE AND TRANSLATIONS

26.1. You agree that Privacy Policy, these Terms, and other notices posted through the Services have been drafted in English. Although translations in other languages of any of the foregoing documents may be available, such translations may not be up to date or complete.

26.2. Accordingly, you agree that in the event of any conflict between the English language version of the foregoing documents and any other translations thereto, the English language version of such documents shall govern.

ARTICLE 27. UNCLAIMED PROPERTY

If the Bithumb Singapore is unable to return your DPT to a third party Account for you after a period of inactivity, the Bithumb Singapore may report and remit the DPTs to an applicable government agency pursuant to applicable escheatment or unclaimed property laws.

ARTICLE 28. EVENT

28.1. The Bithumb Singapore can implement a variety of promotional campaigns (the “Event”) to attract and motivate Users to take advantage of Services. Goods like DPTs, voucher, etc as a giveaway (the “Giveaway”) shall be distributed only to those who satisfy the entire event requirements.

28.2. When it comes to Giveaway distributed for such event, the Bithumb Singapore shall not be held liable and responsible for paying any taxes under the laws of Singapore since such Giveaway is given to the recipient for free.

28.3. Any tax liability arising as a result of accepting any Giveaway is the responsibility of the recipient regardless of whether he or she buys, sells, transfers, exchanges, refunds or not except.

ARTICLE 29. THIRD PARTY APPLICATION

29.1. You acknowledge and agree that your use in the content service provided by a third party through Joy menu of the Bithumb Singapore constitutes your agreement to the terms of use of such content service.

29.2. You also acknowledge and agree that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under these Terms.

29.3. Further, you acknowledge and agree that you will not hold the Bithumb Singapore responsible for, and will indemnify the Bithumb Singapore from, any liability arising from the actions or inactions of this third party in connection with the permissions that you grant.

ARTICLE 30. SITE; THIRD PARTY CONTENT

30.1. The Bithumb Singapore strives to provide accurate and reliable information and content on the Site, but such information may not always be correct, complete, or up to date. The Bithumb Singapore will update the information on the Site as necessary to provide you with the most up to date information, but you should always independently verify such information. The Site may also contain links to third party websites, applications, events or other materials (the “Third Party Content”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by the Bithumb Singapore of any products or Services. The Bithumb Singapore shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Site in any Third Party Content.

30.2. From time to time, we might post helpful links or ARTICLEs on our Site, but you should investigate those sources on your own.

ARTICLE 31. PROMOTIONS

The Bithumb Singapore does not, as a general rule, take part in promotions without an official pronouncement, either on our Site or elsewhere. You promise to obtain prior written approval before releasing any statements, written media releases, public announcements and public disclosures, including but not limited to, promotional or marketing materials, regarding the Bithumb Singapore.

ARTICLE 32. USER CONNECTING BITHUMB KOREA ACCOUNT

32.1. Bithumb Korea Account Connection as follows:

  1. (a) The account (the “Bithumb Korea Account”) created via Quick-Sign up or General Sign-up from the Bithumb Korea (www.bithumb.com) can be connected with the one from Bithumb Singapore; and
  2. (b) If you connect your Bithumb Korea Account with Bithumb Singapore Account, you can use Bithumb Singapore Site.

32.2. Email Address Collection for Quick Sign-up as follows:

  1. (a) We collect the email address of the account created via Quick Sign-up from the Bithumb Korea only upon its first login for the purpose of the stable operations (Verification Needed); and
  2. (b) If anyone who connects the account created via Quick Sign-up failed to register the email address upon request, he or she cannot use any Services.

32.3. Terms of Use for Bithumb Korea Account as follows:

  1. (a) You can change or cancel Bithumb Korea Account via Bithumb Korea only;
  2. (b) Using all Services with the connected Bithumb Korea Account shall be governed by these Terms; and
  3. (3) If you want to get promoted to Level 2, you should verify yourself via Bithumb Singapore regardless of whether or not you are verified by Bithumb Korea.

ARTICLE 33. API USE

33.1. Subject to your compliance with this Terms and any other agreement which may be in place between you and the Bithumb Singapore related to your use of the API, the Bithumb Singapore hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading on the Bithumb Singapore. You agree not to use the API or data provided through the API for any other commercial purpose. You access and use the API entirely at your own risk, and the Bithumb Singapore will not be responsible for any actions you take based on the API.

33.2. The Bithumb Singapore may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, the Bithumb Singapore may moderate your activity or cease offering you access to the API, each in its sole discretion. The Bithumb Singapore may immediately suspend or terminate your access to the API without notice if it believes you are in violation of the terms of this Agreement or any other agreement which may be in place between you and the Bithumb Singapore related to your use of the API.

ARTICLE 34. USER FEEDBACK, QUERIES, COMPLAINTS, AND DISPUTE RESOLUTION

34.1. If the Users have any feedback, queries, or complaints, please contact us via [email protected] or www.bithumbsg.com/qna (collectively, the “Customer Support”) to us by referring to the contact details stated on the Site.

34.2. Users are requested to provide the Bithumb Singapore with its name, address, and any other information that the Bithumb Singapore may need to identify the relevant User and the transaction on which the Users have feedback, questions, or complaints.

34.3. In the event of a complaint, Users are requested to set out the cause of its claim, how the User would like the Bithumb Singapore to resolve the complaint and any other information that the User believe to be relevant. The Bithumb Singapore acknowledge receipt of its complaint if the User contact via the Customer Support. The Bithumb Singapore’s support staff (the “Staff”) will consider the User’s complaint. The Staff will consider the complaint objectively and without prejudice based on the information that the User provides and any information provided by the Bithumb Singapore. Within 15 working days of our receipt of the complaint that the Staff will address all points raised in the User’s complaint by sending the relevant User an email (the “Resolution Notice”) in which the Staff will:

  1. (a) offer to resolve your complaint in the way the User request;
  2. (b) make a determination rejecting the User’s claim and set out the reasons for the rejection; or
  3. (c) offer to resolve the User’s complaint with an alternative solution. In exceptional circumstances, if the Staff is unable to responds to the User’s complaint within 15 working days for reasons beyond the Bithumb Singapore control, the Staff will send you a holding reply indicating the reasons for the delay. In responding to the complaint, the Staff will specify the deadline by which the Staff will respond to the complaint, which will be no later than 35 working days from the Bithumb Singapore’s receipt of the claim.

34.4. Any offer of resolution made to the User will only become binding if the User accepts it. The proposal to resolve does not constitute and admission by the Bithumb Singapore of any wrongdoing or liability regarding the subject matter of the complaint.

34.5. The User may in certain circumstances, be able to take unresolved complaints to an independent dispute resolution scheme such as Consumers Association of Singapore (CASE – www.case.org.sg); Singapore Mediation Centre (SMC – www.mediation.com.sg) or the Small Claims Tribunal (SCT – www.smallclaims.gov.sg). These organizations handle disputes across all types of products and services.

34.6 If any dispute is not able to be resolved amicably to the satisfaction of the Parties, the User and the Bithumb Singapore is entitled to either resort to the mediation service as highlighted in the ARTICLE 34.5.

34.7. The Users agree to use the complaints procedures set out under this ARTICLE 34 and refer to the matter first to the Bithumb Singapore contacting any of the dispute resolution organizations cited in the ARTICLE 34.5 above and/or bringing a course of action before an arbitration under ARTICLE 21.1 and 2 above. If the users do not follow the procedures set forth in this ARTICLE 34 before filing a claim in the arbitration proceedings, the Bithumb Singapore has the right to ask the arbitration tribunal to dismiss User’s filing or application unless and until the User completes the steps outlined above.

Last Revised: July 17, 2020