Terms of Service
Welcome to LetKnow Cryptocurrency Trading Platform!
LetKnow is a cryptocurrency trading platform enabling its users to exchange cryptocoins for national currencies and vice versa.The exchange services are available only between the LetKnow registered users in peer-to-peer mode. LetKnow performs a facilitator function between the trading parties and does not enter or take part in the trading contract.LetKnow may perform a role of a mediator and provide escrow services for the trading parties to ensure each party completes their contractual rights and liabilities.
Make sure that you clearly understand the terms and conditions stipulated in this document. Having accepted the current Contract and having started using LetKnow services you enter into contractual relationship with LetKnow.
LetKnow will notify you of any additional changes that may be applied to the current Contract prior they come into effect.
You can terminate the Current contract by withdrawing all your cryptocoins from your LetKnow account and by deleting your LetKnow account.
User Account Registration
Registering your user account with LetKnow you are obliged to provide only correct, actual and valid personal information.LetKnow reserves the right to refuse registration or to terminate (or limit) your services in case of an incorrect, invalid or fraudulent information provided by the User.
Every single User must be at least 16 (sixteen) years old to be eligible to register a LetKnow account. Every User is allowed to use just one LetKnow account for personal purposes only.It is prohibited to act as a broker, intermediary or provide any services to the third parties using your LetKnow account, share it with third parties or give access to it to anyone but yourself (User).
A LetKnow account User is responsible for the security of personal authorization credentials and other authentication means required to access a LetKnow account.
LetKnow account User must to provide only legitimate, valid and actual personal contact information.It is strongly prohibited and considered a breach of this Contract to provide any other than personal or fraudulent identification and contact information.
It is possible to register a corporate LetKnow account. I this case User must provide eligible and valid corporate information for verification purposes. A corporate LetKnow account can be accessed, managed and operated solely by the person that has registered the current account (User).It is strongly prohibited to share the LetKnow account access credential with any third parties.
Corporate LetKnow account terms and conditions:
- A company may register more than one LetKnow account, provided they are operated by only one User (that is a company employee) per account.
- Corporate LetKnow account may have more than one active trading advertisements, provided they do not cross with each other and have different trading terms (e.g. Payment method, price, limits, country etc.)
Personal Data Verification
In order for us to maintain a high level of security, the LetKnow User may be required to provide personal data (e.g. identification document, photo of other identifications) for additional verification purposes.This may occur in any extraordinary circumstances in relation to user account, trading or other.
Extra verification procedures are, above all, intended to restore access to user personal account in case it is necessary. Accounts without the necessary identification are hard to restore access to.
Trading means publishing trade requests (either Buy or Sell). Publishing a trade request, you enter into a legal relationship with the counter trading party and are bound by the terms and conditions that are stipulated in the trade advertisement.The terms and conditions stipulated in the trade advertisement must correspond to the terms and conditions of the current Contract, be legal and reasonable to enter into force
All the trade advertisement terms and condition must be formulated prior the trade request publication. Having published your trade request, you are no longer able to alter its terms and conditions.
It is the responsibility of the Seller to check and control that the Buyer meets all the trade request requirements. Having released the cryptocoins to the Buyer, the Seller cannot reverse the deal and get the cryptocoins back.
The Seller must verify, that the amount received for the cryptocoins is full, on time and meets the preset trade terms and conditions. The Bayer's information must match the personal data on the Buyer’s LetKnow account.
All the trading communication must take place in the LetKnow chat, be open and accessible to LetKnow personnel. In case the above-mentioned conditions are not met, it may affect the resolution of possible disputes that may arise between the trading parties.
Trade Disputes Terms and Conditions
Either trade contract party may initiate a Dispute. LetKnow personnel takes a part of a mediator and helps to resolve the Dispute. Only trade deals where the Buyer has paid for the cryptocoins are subject to a potential Dispute.All the trade contract that have been released by the Seller, canceled by the Seller, canceled by other reasons, already Disputed, resolved deals are considered closed and may not be disputed or reversed by any of the trading parties.
The LetKnow may give instructions to the trading parties to resolve a potential Dispute. The trading parties are obliged to follow these instructions. Instructions may involve providing an additional identity proof, proof of payment or other documentation.In case any of the trading parties fails to cooperate, the Dispute may be resolved in favor of the counter party
The Dispute is considered resolved when the cryptocoins in escrow are being transferred to the Buyer or back to the Seller. In extraordinary situation, when it is not possible to determine the trade contract violator, the LetKnow may split the escrow cryptocoins between the trading parties upon personal consideration evenly or not.
The Dispute is resolved in the Buyer's favor when the Buyer has met all the trading instructions indicated in the trade advertisement, trade chat or otherwise explicitly provided by the Seller and provided a sufficient proof of payment.
The Dispute is resolved in the Seller's favor when the Buyer has not provided the proof of payment, when the Buyer fails to communicate, the payment made by the Buyer has been stopped for any reason, the Buyer has not met the trading terms indicated in the trade advertisement, when the payment is made by other party or other account rather than the Buyer's personal LetKnow account.
The Dispute is automatically resolved against a User, who fails to provide a valid, legitimate, full and actual information.
Any of the Dispute parties my claim the Dispute resolution result within 120 days from its resolution by the LetKnow.
Trade Communication Terms and Conditions
Each trading party must be accessible for communication and remain in contact within 12 hours from completing the deal.Otherwise, the trade party may be considered as non-responsive and the trade Dispute may be resolved in favor of the counter party.
Creating Trade Advertisements
Registered User can create a trade advertisement to buy or sell cryptocoins.Other registered user may answer to your advertisement and thus start the trade deal.
The advertiser is required to be in contact from the beginning of the trade deal until it is completed.Otherwise, in case of a Dispute, it may be resolved in the favor of the counter trading party.
All the information provided in the trade advertisement must be actual and legitimate, otherwise it may lead to the Dispute resolution against the trading party which has provided the fraudulent information.
The Seller is obliged to provide a valid trading terms and the Buyer is obliged to meet them and to provide a required and legit proof of payment.
If either of the parties fails to meet the above-mentioned terms, it is considered as a violation of the current Contract.
All the trading terms must be indicated in the trade advertisement prior the advertisement is being published. The published advertisement can be amended only by the consent of both trading parties.
Local Trade Advertisements
Local Trade Advertisements occur when the cryptocoins are traded between the parties that are located in the same area (city, country) and trade is performed in cash (payment method Cash).Such trade contracts fall into the category Trade Local.
It is prohibited to publish more than one Trade Local advertisement, unless they have different trading terms (limit, user groups etc.)
On-line Trade Advertisements
Trade advertisement is considered On-line when trade is performed with the payment method other than Cash.
It is not allowed to publish more than one trade advertisement with the same payment method for the same location, unless the indicated trading terms have different limits and are addressed to different user groups.
User Account Termination Terms
User account can be suspended or terminated in case of a severe violation of the terms and conditions stipulated in the current Contract.
Suspension is a limited and temporary access rights limitation.
Termination a permanent loss of the LetKnow account access rights.
The indicated limitations may come into force if:
- The information provided on the personal/business account or trade advertisement is proved (or suspected) to be fraudulent or illegal
- User has violated the current Contract terms and conditions or other trading party rights
- We have a reason to suspect that the LetKnow account is being used for illegal activities such as money laundering, financing terrorism, fraudulent activities or other crime
- LetKnow may be required to apply the above-mentioned limitation based on an applicable law regulations or authorities order
- User intrudes another User’s privacy, acts as racist, being abusive, threatening, offensive.
- User actions cause LetKnow (or other users) services breakdown, damage reputation, lead to security or private property violation
- User tries to get unauthorized access to other User accounts
LetKnow will notify a User of such an action prior the limitations take place; however, we reserve the right to apply the indicated limitations without a prior notice, in case we consider it reasonable for security or other purposes.
Please be advised, that the above-mentioned charges may be subject to LetKnow privacy terms and we reserve the right not to disclose our reasons or details of such actions for the involved users.
The above indicated limitations will be suspended as soon as we make sure the threat no longer exists.
Wallet Access Terms and Limitations
LetKnow may limit your access to your account Wallet if certain conditions are met:
- We suspect the unauthorized access to your user account
- We suspect your user account is being involved in any illegal activities
- We have received a legal request from the local authorities
- LetKnow service blackout or maintenance works
- Any other situation where your user account may be at risk
LetKnow will take all the necessary actions to reinstate the service and your access to your wallet and user account as soon as possible.
LetKnow will notify the User of such an action prior the limitations take place; however, we reserve the right to apply the indicated limitations without a prior notice, in case we consider it reasonable for security or other purposes.
Please be advised, that the above-mentioned charges may be subject to LetKnow privacy terms and we reserve the right not to disclose our reasons or details of such actions for the involved Users.
Fees and Pricing
The LetKnow services are provided on a per transaction and/or per trade basis according to prices and conditions stipulated on our website.
Unless expressed otherwise, our service fee is deducted from user wallet balance upon the completion of a specific trade contract or service.
Alternative Cryptocurrencies Terms and Conditions
In case a new and/or an alternative cryptocurrency and/or forks of the bitcoin blockchain is created, it may lead to holders of private keys containing a bitcoin balance receiving a corresponding amount of the new cryptocurrency on the newly created blockchain.LetKnow reserves the right to decide, based on our personal consideration, to support any new cryptocurrencies and/or blockchain forks in our services including defining which blockchain shall be deemed as bitcoin in terms of the current Contract.Any news are communicated to our Users on the official LetKnow Web site.
We reserve the right, but not obliged to, to provide compensation by converting all of the available new cryptocurrency to bitcoin and sharing all of the converted bitcoin between Users who held a bitcoin balance on their account at the time of the creation of the new cryptocurrency.
In such cases, LetKnow may charge a User a processing fee in any amount considered reasonable by us but not exceeding the amount of compensation payable a User.
In case LetKnow makes a decision to support a new cryptocurrency, the terms and conditions will be equally applied to the new cryptocurrencies.
LetKnow is not liable for any damage, losses or expenses that may be caused to a User as a result of the application of the right stipulated in this chapter.
In case the above-mentioned terms User considers as unacceptable, User may withdraw the cryptocurrency balance from their user account wallet and act upon their consideration.
User is obliged to get familiar and follow their local legislation to be able to use LetKnow services. LetKnow does not operate under the following jurisdictions: the Federal Republic of Germany, State of New York and State of Washington in the United States of America.By accepting the current Contract, User accepts and confirms not to operate or fall under the above-mentioned jurisdictions.
Intellectual Property Rights
By accepting the current Contract, User acknowledges, that all the content, design, trademarks, graphics is LetKnow intellectual property.
A LetKnow Use gets a temporary, conditional and subordinate to this Contract terms and conditions access to LetKnow services, information and content.By accepting this Contract, you acknowledge as a LetKnow user, that you are not allowed to copy, transfer, sell, rework the LetKnow property as a whole or any part of it.By accepting this Contract, you give your explicit consent to use LetKnow services and content solely for direct purposes stated in this Contract.
LetKnow services are provided “as is” to the extent of the applicable law. LetKnow does not provide any additional warranties of any kind in relation to its services.
LetKnow is not responsible for and does not cooperate with any payment method, processing service or other services indicated on the LetKnow Web site.All the third-party services are indicated for information purposes.
LetKnow does not carry the responsibility for the user-generated content (chat messages, advertisements, trade deals and other) on the LetKnowWeb site; however, may amend and remove the total or a part of the above-mentioned content without prior notice upon personal consideration.
LetKnow Web site may link to other resources on the internet, that may contain inappropriate, offensive or unacceptable content.LetKnow is not related to the above-mentioned resources and is not responsible for the possible content of such kind, its legitimacy and accuracy.
LetKnow has the right to modify, limit, extend or perform other manipulations with LetKnow Web site content and LetKnow services without any prior notice.
LetKnow does not carry any responsibility (to the extent of the applicable law) for:
- User economic losses, profit losses, revenue losses
- User reputation losses
- Any other potential or consequential losses of a User that may arise
LetKnow User holds the full responsibility for all their actual and potential losses and damages that may arise.
Nevertheless, User rights fall under the applicable consumer rights legislation.
By accepting this contract, you agree, that you, as a LetKnow User, carry full responsibility for all claims, liabilities, damages, legal fees, fines, costs and other expenses that may be caused to LetKnow in relation to your breach of this Contract,another person actions on your LetKnow user account on any device, you violating any law, providing fraudulent information or violating any third-party rights.
Other Terms and Conditions
LetKnow is authorized to transfer its rights and liabilities under this Contract to any third party without a prior notice.This does not affect User rights and LetKnow liabilities under this contract.User; however, is not authorized to transfer their right partially or in-full to any third party.
The Current agreement and its Amendments make the integral part of the Contract and displace all prior agreements between the parties.All additional agreements between the parties enter into force if made in writing and signed by both parties.
By signing this Contract, User confirms their full understanding of all the terms and conditions stipulated in the currentContract and does not rely on any hidden and unexpressed in the current Contract statements.
In case any part of the current Contract is considered unlawful, that fact shall not affect the remaining terms and conditions and the duties and liabilities arising in relation to them and the current Contract.
Any rights and liabilities of LetKnow, their enforcement or waiver arising from the current Contract will enter into force only if expressed in writing.The exercise of any right or liability by each party arising from this contract does not affect other rights and liabilities that make a part of this Contract or allowed by the applicable legislation.
By signing the current Contract, you accept, that all the possible disputes in relation to the current Contract will be governed by the laws of Thailand.LetKnow provides their services from Thailand and holds no responsibility for services compliance in other countries.
However, LetKnow reserves the right to take the legal hearing to any other court.
Any legal claim in relation to the current Contract must be placed within 1 (one) year from the claim issue.
In case either contractual party of this Contract fails to exercise any right or liability arising from the current Contract’s terms and conditions,this fact does not wave the fulfilment of other duties and liabilities according to the current Contract.