Terms and Conditions
Acceptance of terms
Thanks for choosing Toropal. The following Terms and Conditions apply to any person that registers for and/or opens a Toropal Account through toropal.com or any associated mobile applications, websites, or APIs (together referred as “Toropal Site” or “Site”). The Site is operated by Toropal (also referred as “we,” “our,” or “us”). Please read these Terms carefully before using the Site because they affect your legal rights and obligations. The terms constitute a legally binding agreement between you and Toropal. You are referred to in these Terms as “you” or “your.” Together, you and we are collectively referred to as the “Parties” or a “Party.”
By registering for and opening a Toropal Account, you unconditionally accept these Terms and agree to be bound by and act in accordance with them. You also agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in which you live that may be applicable to your use of the Toropal Site and/or your Toropal Account, including but not limited to, those related to export or import activity, taxes or foreign currency transactions. Depending on your country of residence, you may not be able to use all the functionalities of the Site.
Amendment of terms
We may amend the Terms from time to time. You should visit the Toropal website regularly to check when the Terms were last updated (as displayed at the bottom of this document) and to review the current Terms. We will do our best to notify you of any amendments to the Terms that we consider likely to materially affect your rights and obligations. Any such notice will be posted on the Toropal Site, or sent by email or sms to the email address or phone number associated with your Toropal Account.
The continued use of your Toropal Account, after any amendment to these Terms, constitutes your acceptance of the Terms, as modified by such amendment. If you do not accept the Terms, or any amendment to them, you must immediately stop using the Site and your Toropal Account.
By opening a Toropal Account, you expressly warrant and represent that:
(a) You are 18 years of age or over and have full capacity to accept the Terms and enter any transaction available through the Site;
(b) You will not open, or attempt to open, a Toropal Account under any name except your own or use your Toropal Account to carry out transactions on behalf of a third party;
(c) You will not have more than one Toropal Account, use/access any Toropal Account other than your own, or assist any other person in obtaining unauthorised access to any Toropal Account;
(d) You will not allow or facilitate the deposit of money into your Toropal Account unless that deposit is made in accordance with the Deposit Requirements (see Deposits);
(e) You will not allow or facilitate the withdrawal of money from your Toropal Account to a bank account held in the name of a third party (see Withdrawals);
(f) You will not use your Toropal Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations;
By opening a Toropal Account you accept and agree that we may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, the Toropal Site or any Toropal Account in a manner that is inconsistent with the letter or spirit of these Terms.
Cryptocurrencies are new technologies that often work differently to your prior experience. They entail various risks that you should understand. Before using Toropal Site, we encourage you to educate yourself about the risks associated with offering cryptocurrencies services as there may be additional risks not identified in these Terms.
You accept and agree that:
any communications, agreements, notices and/or any other documents (together referred as “Communications”) relating to your Toropal Account or your use of Toropal’s services will be provided to you electronically by posting them on the Toropal Site, emailing them to the email address you have provided to us, sending as a sms/text message to the phone you provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically.
you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address.
you assume full responsibility for providing us with a valid and accessible email address or phone number to which any Communications may be sent, and for ensuring that email address or phone number and any other contact information is kept up to date. Any Communication sent to the phone number or email address you have provided to us will be deemed to have been received by you. You can amend your contact information on the Settings page of your Toropal Account.
Verification is part of our Know Your Customer (KYC), and Anti-Money Laundering and Terrorist Financing (AML/ATF) policies which we are required to abide by as a money service business. We implement and maintain the highest standards of Know Your Customer (KYC) processes and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing.
To ensure we meet these standards, our customers are required to provide certain personal and business details/documents when opening a Toropal Account (referred as “Verification”). The nature and extent of the Verification required will depend upon which of our supported countries you are resident in. In certain circumstances, we may also perform Enhanced Due Diligence (EDD) procedures in relation to your Toropal Account. You accept and agree that you will remain subject to such procedures at all times. We reserves the right to, at any time to: restrict or suspend your Toropal Account when we, in our sole discretion, consider it necessary to carry out further Verification.
Where you have been verified in accordance with the verification requirements (see Verification), you may deposit money into your Toropal Account by depositing funds into our bank account (referred as “Deposit”). Subject to these Terms, you retain a right to any funds you deposit into our bank account until such time as your funds are used or withdrawn.
Details of our bank account into which you must make the Deposit will be provided to you by Toropal, and any such bank account will be held and operated by a Toropal operating entity in your country or region. You accept and agree that any information you provide to Toropal may be shared with such a local entity, which will process money transactions in accordance with Toropal’s instructions. The payment methods (“Supported Deposit Method”) which we support and by which you may Deposit money will depend upon the country or region you are in. Where you have made a Deposit using a Supported Deposit Method, and have adhered to the Deposit Requirements (see Deposit Requirements), your Deposit will be allocated to your Toropal Account.
Due to legal and operational constraints, you must strictly adhere to the following Deposit requirements (referred as “Deposit Requirements”):
you may only make a Deposit from a Supported Deposit Method held in your own name. You must not allow any third party to make a Deposit into your Toropal Account.
you may only Deposit money using a Supported Deposit Method compatible with the deposit methods available in your country or region.
you may only make Deposits denominated in your local or national currency associated with your Toropal Account. For example, if you have a CAD account, you must only make Deposits in Canadian Dollars.
You agree to abide by the Deposit Requirements and agree and accept that failure to do so may cause delay in or failure of any Deposit reflecting in your Toropal Account, and/or restriction, suspension or termination of your Toropal Account.
Where you have been verified in accordance with the verification requirements (see Verification) and have added your bank account details (or email address in the case of Interac E-Transfer) to your Toropal Account, you may withdraw funds from your Toropal Account to your bank account (referred as “Withdrawal”). We will process a Withdrawal in accordance with your instructions. You are solely responsible for ensuring that any Withdrawal instructions provided to us, including the relevant bank account number, are complete and correct and you accept and agree that under no circumstances will we be under any obligation to reverse or amend any Withdrawal.
Withdrawal to the bank account of any third party is expressly prohibited. You agree not to make, or attempt to make, any Withdrawal of funds from your Toropal Account to the bank account of a third party and accept that any such Withdrawal may be refused and/or result in the restriction, suspension or termination of your Toropal Account.
You are solely responsible to determine any taxes that may apply to you or any Transactions you conduct through the Site, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.
In the event that any provision of these Terms and Conditions is found invalid or unenforceable pursuant to any judicial decree or decision, such provision shall be deemed to apply only to the maximum extent permitted by law, and the remainder of these Terms and Conditions shall remain valid and enforceable according to its terms.
While we will do everything we can to provide continuous operations, Toropal does not provide any warranty in relation to the availability of the Site or your Toropal Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to the Site or your Toropal Account and make no representation that the Site, your Toropal Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.
Restriction, suspension and termination
We reserves the right to restrict, suspend or terminate your Toropal Account where:
we reasonably suspect your Toropal Account to be the subject of an operational or other error, in which case we may be required to suspend access to your account until such time as the error is rectified;
we reasonably suspect your Toropal Account has been or is being used in relation to any unlawful, fraudulent or Prohibited Activity, or in breach of these Terms;
we reasonably suspect you or your Toropal Account is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;
we reasonably suspect your involvement in any attempt to gain unauthorised access to any Toropal Account;
your Toropal Account is or appears to be the subject of any legal, regulatory or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance associated with your Toropal Account;
we are compelled to do so by a prima facie valid subpoena, court order, or other binding order of a government or regulatory authority; or
your name appears on a government or international body sanctions list.
We will make all reasonable efforts to provide you with notice of any decision to restrict, suspend or terminate your Toropal Account, unless we are prevented from doing so by any legal or regulatory process or requirement, or where doing so may compromise our security and/or risk management procedures. You accept and agree that we are under no obligation to disclose to you the fact of or reason for any decision to restrict, suspend or terminate your Toropal Account, and shall have no liability to you in connection with the restriction, suspension or termination of your Toropal Account.
Warranties and disclaimer
You agree that there are risks associated with using any cryptocurrency network, including, but not limited to, the risk of unknown vulnerabilities in or unanticipated changes to the cryptocurrency network and its processes. You agree that we have no control over any cryptocurrency network and will not be responsible for any harm occurring as a result of such risks.
You agree that we will not be responsible or liable to you for any loss and take no responsibility for and will not be liable to you for any use of our Services, including but not limited to any losses, damages or claims arising from: incorrectly constructed transactions, or mistyped cryptocurrency addresses; money or cryptocurrency transactions made fraudulently from your Toropal account; server failure or data loss; corrupted wallet files; and any unauthorized third party activities, including without limitation the use of viruses, phishing, hacking or other means of attack against the Site or our Services.
This site, and all materials and services accessible through this site are provided “as is” without warranty of any kind, either express or implied, including, but not limited to, the implied warranties of merchantability or fitness for a particular purpose, or the warranty of non-infringement. Without limiting the foregoing, and except as expressly provided otherwise, we make no warranty that: the services and materials will meet your requirements; the services and materials will be uninterrupted, timely, secure, or error-free; the results that may be obtained from the use of the services or materials will be effective, accurate, or reliable; and the quality of any services or materials obtained or accessible by you through the site will meet your expectations.
You must not use your Toropal Account to directly or indirectly undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”):
violation of any laws, statutes, ordinance or regulations;
undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
Abusive activity, including but not limited to: attempting to gain unauthorised access to the Site or any Toropal Account; transmitting or uploading any material to the Site that contains viruses, Trojan horses, worms, or any other harmful programmes; or transferring your Toropal Account access or rights to a third party, unless as required by law or with our prior consent.
fraudulent activity, including but not limited to taking any actions that defraud us or a Toropal customer, or the provision of any false, inaccurate, or misleading information to Toropal.
transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance; are considered obscene; or may be stolen goods or the proceeds of crime.
sale or purchase of narcotics or controlled substances.
intellectual property infringement.