GENERAL TERMS AND CONDITIONS General Terms and Conditions (here in after referred to as “SKU”) KOISAN EXCHANGE is a provision that contains terms and conditions regarding the use of products, services, technology, service features provided by KOISAN EXCHANGE including, but not limited to the use of the Website, the Indonesian Bitcoin Wallet and the KOISAN EXCHANGE Trading Platform (Trading App) (hereinafter referred to as the “KOISAN EXCHANGE Platform”) as long as it is not specifically regulated as stated in the KOISAN EXCHANGE Account registration section which is made on the day and date stated in the Account registration section https://k-ex.co/, is an integral and inseparable part of this SKU. By registering to become a Member/Verified Member, you state that you have READ, UNDERSTAND, AGREE and COMPLY with the Terms and Conditions below. You are advised to read all the terms and conditions carefully before using the KOISAN EXCHANGE platform services or any services provided, and hereby you agree and bind yourself to all activities in this SKU with the following terms and conditions:
As long as the context of the sentence does not specify otherwise, the terms or definitions in the SKU have the following meanings:
- Website refers to an online site with the addresswww.k-ex.co. This website is managed by KOISAN EXCHANGE, but not limited to the owners, investors, employees and parties related to KOISAN EXCHANGE. Depending on the context, “Website” may also refer to services, products, sites, content or other services provided by KOISAN EXCHANGE.
- Crypto Asset is a crypto commodity that uses the principle of decentralized technology based on a peer-to-peer network (interface) or called a Blockchain Network that is traded on a platform
- Blockchain is an open distributed ledger that can record transactions between two parties efficiently and in a permanently verifiable manner.
- Registration is the process of registering to become a Member on the KOISAN EXCHANGE platform which is an initial verification process to obtain information, statements in the use of platform services
- Member is a person (individual), business entity, or legal entity that has registered on the KOISAN EXCHANGE platform, thereby obtaining authorization from the KOISAN EXCHANGE platform to carry out Crypto Asset trading activities.
- Verification is the process of examining Members regarding information related to Members and personal information included in the Registration process to be validated by KOISAN EXCHANGE in order to get full platform services
- Verified Member are Members who have gone through and completed the Verification stage carried out by KOISAN EXCHANGE.
- Service is a service provided by KOISAN EXCHANGE in facilitating Verified Member to carry out activities to buy and sell Crypto Assets.
- Asset Trading Activities Crypto is an activity of buying and selling Crypto Assets based on the achievement of an agreement value point for Verified Members on the platform provided by KOISAN EXCHANGE.
- Member Account is access given to Member/Verified Member to obtain information and to carry out Crypto Asset trading activities through the platform
- Password is a collection of characters consisting of an alpha-numeric sequence or a combination of both and is used by the Member/Verified Member to verify his/her identity to the security system on the KOISAN EXCHANGE platform.
- Phone Number is a registered Member/Verified Member phone number so that it obtains authorization to obtain service. Phone number changes can be made by following the rules on the help page available on the Website.
- Conversion is a change in the value of fiat currency or currency into the form or format of Crypto Assets based on the prevailing exchange rate/rate and vice versa.
- Buyer is a Verified Member who purchases Crypto Assets through the platform. In the transaction mechanism the buyer can purchase Crypto Assets based on the Rupiah exchange rate/rate.
- Seller is a Verified Member who sells Crypto Assets through the platform. In the transaction mechanism, the seller can sell Crypto Assets based on the Rupiah exchange rate/rate.
- Deposit is the process of storing Rupiah/Crypto Assets by Member/Verified Member which refers to the process or mechanism for adding (top up) carried out through Member/Verified Member Accounts
- Withdraw is the process of withdrawing Rupiah/Crypto Assets by a Verified Member which refers to the withdrawal process or mechanism that is carried out through a Verified Member Account
- Asset Price Crypto is the exchange rate / rate of Crypto Assets on the KOISAN EXCHANGE platform which is volatile, with a value according to demand (supply) and supply (demand) in the market.
- Asset Address Crypto is a Crypto Asset wallet address belonging to Member/Verified Member, created specifically for Member/Verified Member and can be used many times as a Crypto Asset wallet provided on the platform. In technical factors, Crypto Asset addresses have a role or function to receive and send Assets crypto.
- Asset Delivery Limit Crypto is the minimum and maximum limit for sending Crypto Assets to other Crypto Asset wallets per day. It is necessary to explain that each Verified Member Account will have a different delivery limit and are adjusted to these Terms and Conditions with the applicable Laws and Regulations.
- Rupiah Withdrawal Limit is the minimum and maximum limit for withdrawing Rupiah per day. With regard to the Rupiah withdrawal limit. It is necessary to explain that each Verified Member Account will have a different withdrawal limit that is adjusted to the Terms and Conditions and the applicable Laws and Regulations.
- Bank Account is a bank account that has been registered by the Member with the obligation to match the name of the account holder and the name of the Member.
- Order Book is a list of selling prices and buying prices available on the Website. Verified Member can buy or sell Crypto Assets using the listed price and to facilitate the Verified Member Order Book is divided into two parts, namely:
- Buy Market – A list of Crypto Asset purchase requisitions complete with the number of Crypto Assets and the price offered.
- Sell Market – List of Crypto Assets for sale complete with the amount of Crypto Assets and the asking price.
- Asset Wallet Crypto is a software and information component for storing and using Crypto Assets.
- Vouchers Koisan Exchange is a product issued by the KOISAN EXCHANGE platform in the form of proof of ownership of Crypto Assets in the form of electronic vouchers to be used in Crypto Asset trading activities.
- Rupiah is the currency of the Unitary State of the Republic of Indonesia. Currencies traded against Crypto Assets on the platform
- KYC (Know Your Customer) Principles is the process of assessing prospective Members and Members to find out the background and good faith of the actions to be carried out in a Crypto Asset trading activity.
- AML (Anti Money Laundering) is an activity to anticipate and stop money laundering practices.
- GDPR (General Data Protection Regulation) is a form of legal instrument relating to Data Privacy that is applied to all companies in the world that have stored, processed and processed personal data of residents of the European Union. This policy has to provide protection against the confidentiality of personal or individual data. The application of this rule became effective on May 25, 2018.
- 2 (two) Step Security System (Two Step Verification) is a service provided by the KOISAN EXCHANGE platform as an option for Verified Member in providing additional security for Verified Member Accounts.
MEMBER REGISTRATION/REGISTRATION PROCESS MEMBER INFORMATION AND DATA