Exchange terms

01

General provisions

This user agreement (the “Agreement”) governs the relationship between the cryptocurrency exchange service SwapX (the “Service”, “Operator”) and individuals (the “User”, “Customer”) who use the Service to perform exchange transactions.

The Operator allows Users to exchange one cryptocurrency for another at current market rates. The Service is not an exchange, broker, or financial advisor.

When using the Service, the User:

confirms they are at least 18 years old;
acts on their own behalf and in their own interest;
is responsible for the lawful origin of transferred assets;
understands and accepts the risks associated with cryptocurrency transactions.

02

Definitions

Order A User request to perform an exchange, including send/receive assets, amount, and receiving address.

Exchange rate The ratio between two cryptocurrencies at order creation, based on major market data.

Network fee Blockchain transaction fees (gas, etc.) collected by miners/validators; the Service does not control them.

Wallet address A unique identifier on the blockchain to which the Service sends funds to the User.

Network confirmations Blocks added after a transaction is included, indicating irreversibility.

AML/KYC Anti-Money Laundering and Know Your Customer procedures.

03

Exchange process

Exchanges are performed in the following steps:

1
Create order. The User selects a pair, enters the amount and receiving wallet. The rate is locked at creation.
2
Send funds. The User transfers the exact amount to the Service wallet per the order. Funds must be sent within 30 minutes of order creation.
3
Confirm payment. After sending, the User clicks “I have sent the funds” on the order page so the Service can verify the incoming transaction.
4
Processing. Operators verify receipt and blockchain confirmations. Once sufficient, an outgoing transaction is sent.
5
Payout. Exchanged funds are sent to the wallet in the order. Arrival time depends on blockchain load.

Orders are cancelled automatically if no funds arrive within 30 minutes. Any funds received may be refunded minus network fees.

04

Rates and fees

Rates are based on aggregated data from major venues (Binance, Kraken, Coinbase, etc.) and updated close to real time.

Parameter	Value	Notes
Service fee	1–2%	Depends on pair and volume
Network fee	Per network	Deducted from outgoing amount
Rate lock	At order creation	Valid 30 minutes
Volatility surcharge	Up to 0.5% in high volatility	Applied automatically

The Service may change displayed rates without prior notice. Created and paid orders are executed at the locked rate.

05

Minimum and maximum limits

Exchange limits:

Minimum: equivalent of 10 USD — to avoid uneconomical transfers (network fee may exceed the amount).
Maximum: equivalent of 20 000 USD per order — per AML policy.
Daily limits: not fixed if the User is verified for amounts above 5 000 USD.

Limits may be adjusted on request for customers who have verified the source of funds.

06

Order processing time

Estimated time to receive funds in your wallet:

3–10 min

Standard swap

BTC/ETH/USDT and major pairs

Up to 30 min

Network congestion

When the blockchain is busy

Up to 24 h

Manual review

When AML filters trigger

The Service is not liable for delays due to blockchain technical issues, forks, or force majeure.

07

AML / KYC policy

SwapX follows international standards against money laundering and terrorist financing. By using the Service, the User confirms:

assets have a lawful origin;
transactions are not intended to launder money, evade taxes, or fund illegal activity;
the User is not on OFAC, EU, UN, or other sanctions lists.

The Service may:

request proof of funds for amounts above 5 000 USD;
suspend or cancel suspicious orders without explanation;
freeze assets for up to 180 days if there are grounds to suspect a legal violation;
disclose transaction data to competent authorities.

Deliberately providing false information may result in immediate account suspension and referral to law enforcement.

08

Prohibited use

It is strictly forbidden to use the Service to:

Launder proceeds of crime

Finance terrorism or extremism

Exchange funds from hacks or fraud

Evade taxes or conceal income

Trade banned goods, drugs, or weapons

Circumvent international sanctions

09

Liability

The Operator is not liable for:

loss due to incorrect wallet address or Destination Tag/MEMO;
delays caused by blockchain congestion;
technical failures of providers or partners;
price movements after an order is completed;
damage from third-party misuse if the User fails to protect credentials.

The User is responsible for:

accuracy of details (wallet, MEMO/Tag);
lawful origin of sent funds;
compliance with cryptocurrency laws in their jurisdiction.

Blockchain transactions are irreversible. Double-check all details before confirming an order.

10

Data protection

When using the Service, the Operator may collect and process:

IP and location — fraud detection and sanctions compliance;
Wallet addresses — order execution and AML analysis;
Transaction history — retained for 5 years where required by law.

Personal data is not shared with third parties except as required by law (enforcement, court orders).

Data is protected with modern encryption. Database access is restricted and monitored.

11

Refunds

Refunds may be issued when:

the Service cancels an order before broadcasting an outgoing transaction;
a Service technical error prevents completing the order;
a transaction is blocked after AML review and the source of funds is confirmed lawful.

Refund process:

the User contacts support with the order ID;
operators review within 3 business days;
if approved, funds return to the original address minus network fees within 5 business days.

No refunds for “change of mind” or “wrong amount” once an outgoing transaction is on-chain — it cannot be reversed.

12

Final provisions

This Agreement takes effect from first use of the Service and remains in force until explicitly withdrawn by the User.

The Operator may amend terms unilaterally. Changes are published on the website; continued use after updates constitutes acceptance.

Disputes should first be resolved through negotiation; otherwise applicable law governs.

Contact regarding these terms:

[email protected] Telegram support