Terms of Service | Sellix
These terms govern the use of the services provided by Sellix SRL, a regulated crypto-assets service provider
By registering an account with Sellix and/or using Sellix services (“Sellix Services”):
you agree to be bound by the Terms of Services, the Advanced Services Terms, the Data Protection Policy (together the “Terms”);
you agree to abide by all operating rules, policies and procedures posted on the Sellix website.
Sellix may update these Terms at any time.
1. Account
Certain services and features which may or may not be available to you depending on your location and other criteria.
Before creating an account with Sellix, you must read and accept these Terms.
In order to use the Sellix Services, you must register for a Sellix account (“Account”). You agree to provide us during registration for your Account, or at any other time deemed necessary by Sellix, with the information we request for the purposes of identity verification, providing Sellix Services to you, and the detection of money laundering, terrorist financing, fraud, or any other financial crimes, and permit us to keep a record of such information. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) and in some cases (where permitted by law), special categories of personal data, such as your biometric information. You consent to us accessing, processing, and retaining any personal information you provide to us for the purpose of us providing Sellix Services to you. This consent is not related to, and does not affect, any rights or obligations we or you have in accordance with data protection laws, privacy laws, and regulations. You can withdraw your consent at any time by closing your Account with us. However, we may retain and continue to process your personal information if we reasonably believe it is necessary to comply with laws or regulations. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes. You authorize us to make inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crimes, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies, and that these agencies may respond to our inquiries in full. This is an identity check only and should have no adverse effect on your credit rating. We reserve the right at all times to monitor, review, retain, and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions program, legal process, or governmental request.
You must be at least 18 years old.
You confirm that you are acquiring Sellix Services in the exercise of your commercial or self-employed activity, and also commit to using them exclusively for the purpose of carrying out a business activity. The Services are provided exclusively to you. Use by third parties is prohibited.
If you register with Sellix on behalf of a legal entity, you affirm and warrant that you are authorized to represent it.
Sellix may terminate or temporarily block your access to Sellix Services for, among others, any of the following reasons:
(i) You are a minor;
(ii) Your legally binding legal notice (“Impressum”) is missing or incorrect;
(iii) You commit violations of these Terms or any applicable laws, rules, or regulations.
Where required by law, Sellix will terminate your Account in compliance with the relevant legal provisions. In the case of minor violations, Sellix may decide at its sole discretion.
You are responsible for the safekeeping of your password. Sellix shall not be liable for any loss or damage caused by failure to ensure the security of your Account and password.
2. Compliance and Regulations | Transaction Monitoring, Sanctions Compliance and Screening
2.1 Transaction Monitoring
Sellix maintains automated systems to detect suspicious transactions. You consent to transaction monitoring and reporting to relevant authorities. Sellix may suspend transactions pending completion of investigation.
2.2 Prohibited Activities
You warrant that they are not subject to sanctions or located in sanctioned jurisdictions. Sellix Services may not be used to conduct business with sanctioned entities or individuals Users must immediately notify Sellix of any sanction’s exposure.
2.3 Screening and Controls
Sellix conducts ongoing screening against sanctions lists. Transactions may be blocked based on sanctions risk. No refunds will be provided for transactions blocked due to sanctions violations.
3. Processing of personal data
Your personal data will be processed in accordance with Sellix’s Data Protection Policy, which is available at https://sellix.io/privacy. If you provide Sellix with the personal data of third parties, including (but not limited to) other users of Sellix Services, this shall be subject to Regulation (EU) No 2016/679 of 27 April 2016 (GDPR).
4. Content
4.1 Definition of Content
For the purposes of these Terms, the term “content” shall include, without limitation, information, data, text, photographs, video, audio clips, written submissions and comments, software, scripts, graphics and interactive features generated, provided or otherwise made available on or through Sellix Services. The term “content” includes all user content (“User Content”). User Content is any content added, created, uploaded, submitted, distributed or posted by users. You may only add, create, upload, submit, distribute or post content that does not violate the existing Terms, applicable laws, regulations or other rules of any jurisdiction.
4.2 Notes and restrictions
4.2.1 Each user is responsible for their content. Sellix shall not be responsible for the content. However, we reserve the right to take action, including (but not limited to) blocking and deleting, upon becoming aware of content that violates the Terms.
4.2.2 You acknowledge that all content – including User Content – accessed through Sellix Services is done at your own risk, and you are solely responsible for any damage or loss you or other parties may incur as a result thereof, unless the damage or loss is due to Sellix’s (or one of its legal representatives’) intentional or grossly negligent breach of duty.
4.2.3 Sellix Services and the services rendered by our partners may contain content that is protected by copyright, trademark, service mark, patent, trade secret, or other proprietary rights and laws of any jurisdiction. You must observe and comply with all copyright notices, information, and restrictions contained in the content as accessed through Sellix Services.
4.3 Use
Subject to these Terms, we grant each user of Sellix Services a worldwide, non-exclusive, non-sublicensable, and non-transferable license to use (i.e., download and locally display) said content solely for the purpose of using Sellix Services. The use, reproduction, modification, distribution, or storage of any content for any purpose other than using Sellix Services is expressly prohibited without our prior written consent. You may not sell, license, rent, or otherwise utilize or exploit any content for any commercial purpose or in any manner that infringes the rights of any third party under applicable laws, regulations, or other rules of any jurisdiction.
4.4 Content availability
We do not guarantee that any content will be made available on the website or through Sellix Services. We reserve the right to remove, edit or change any content for the reasons, among others, set out below:
(i) In the event of serious violations of these Terms (in particular, in the event of a breach of the Rules of Conduct), applicable laws, rules and regulations
(ii) In the event of minor breaches of these Terms, applicable laws, regulations and ordinances.
5. Rules of Conduct
5.1 You hereby agree not to use Sellix’s Services for any purpose prohibited by these Terms, any applicable law, rule or regulation. You shall be responsible for all activities related to your Account.
You must not (and must not permit any third party to)
(i) take any action; or
(ii) upload, download, post, transmit or otherwise distribute or facilitate the distribution of any content, including but not limited to User Content, on or through Sellix Services that:
infringes any patent, trade mark, trade secret, copyright, right of publicity or other right of any other person or entity or breach any law, rule or regulation (whether domestic, foreign or international) or contractual obligation in any jurisdiction;
breach these Terms; knowing them to be false, misleading, untrue or inaccurate;
publish any content that is deemed to be unlawful, threatening, abusive, harassing, defamatory, misleading, deceptive, invasive of another’s privacy, tortious, obscene, vulgar, pornographic, libelous or profane, or which contains or depicts nudity, contains or depicts sexual activity or is otherwise deemed to be inappropriate;
display unauthorized advertising or distribute unsolicited advertising or junk and mass e-mails (“spamming”),
produce any content containing software viruses or other computer code, files or programs designed to interfere with, damage, limit or impair the proper functioning of any software, hardware or telecommunications equipment or to damage or gain unauthorized access to systems, data, passwords or other information of Sellix or third parties.
You are not permitted to:
(i) impersonate any person or entity, including any of our employees or agents; or
(ii) use identity documents or confidential financial information of another person.
5.4 Furthermore, you are not allowed to:
(i) take any action that (in our sole discretion) places (or could place) an unreasonable or disproportionately large load on our infrastructure (or that of our third-party providers);
(ii) interfere or attempt to interfere with the proper functioning of Sellix Services or activities carried out under said Sellix Services;
(iii) circumvent or attempt to circumvent any measures we use to prevent or restrict access to Sellix Services (or any other accounts, computer systems or networks connected to Sellix Services);
(iv) run any form of auto-responder or “spam” on Sellix Services;
(v) use manual or automated software, devices or other methods to “crawl” or “spin” pages of the website;
(vi) collect or siphon off content from Sellix Services; or
(vii) take other forms of action that violate our guidelines and principles;
with the exception of actions taken for our bug-bounty and pentesting program available at https://sellix.io/bug-bounty, provided that you immediately report any vulnerability found and you adhere to the program’s Targets, Scope and Policy.
You may not (directly or indirectly):
(i) decrypt, decompile, disassemble, reverse engineer or otherwise attempt to derive the source code or underlying ideas or algorithms of any part of Sellix Services (including, but not limited to, an application), unless an applicable law expressly permits such a restriction;
(ii) modify, translate or otherwise create derivative works of any part of Sellix Services;
(iii) copy, rent, lease, distribute or otherwise transfer the rights you obtain under these Terms. You must comply with all applicable local, state, national and international laws and regulations;
(iv) copy, duplicate, or exactly replicate the products, website or services of another Sellix merchant without their prior consent and in a way that directly affects their business.
5.6 We also reserve the right to access, read, retain and disclose information as we deem necessary, in order to;
(i) comply with applicable laws, regulations, legal proceedings or governmental requests;
(ii) enforce these Terms, including the investigation of possible breaches thereof;
(iii) detect, prevent or otherwise address fraud, security or technical issues;
(iv) respond to support requests from users; or
(v) protect the rights, property or security of ourselves, our users and the public.
6. Third-party services
Sellix’s Services allow you to link to other websites, services or resources on the Internet. In addition, other websites, services or resources may contain links to Sellix Services. If you access third-party resources on the Internet, you do so at your own risk. The inclusion of any such link does not imply an endorsement by us or any association between us and the operators. You hereby acknowledge and agree that we shall not be responsible or liable – be it directly or indirectly – for any damage or loss caused by (or in connection with) the use of or reliance on any such content, goods or services available on or through any such website or resource.
7. Payment and billing
7.1 Chargeable Services
Certain Sellix Services are currently (or will in future be) subject to a charge. An overview of the chargeable Sellix Services, together with a description, can be found at https://sellix.io/pricing.
The terms of payment to be observed within the scope of registration and use of said chargeable Sellix Services form part of these Terms.
7.2 Billing
In some cases, we may use an external payment service provider to bill for chargeable Sellix Services. Billing is processed through a payment account (billing account) linked to your Sellix Account. When payments are processed by an external payment service, the terms and conditions and data protection guidelines of the respective payment service provider apply, in addition to these Terms. We are not responsible for any errors made by the payment service provider. By registering for and using chargeable Sellix Services, you agree to pay us, through the payment provider, all fees (at the prevailing rates) for the use of these services, according to the applicable payment terms. You authorize us to debit your chosen payment method via the payment service provider as necessary.
7.3 Recurring billing
For some chargeable Sellix Services (you can view these at https://sellix.io/pricing), you will either pay no fees initially or there will be a one-off fee. We will bill you a recurring amount at regular intervals (monthly, annually). By choosing a fee-based service that provides for recurring payments, you hereby agree to pay the initial amount due at the time the contract is entered into and the recurring fees as they become due.
7.4 Payment method
The terms of your payment will depend on your payment method and may be determined by agreements between you and the financial institution, credit card issuer or other provider of your chosen payment method. In the event that we do not receive payment from you through the payment service provider, you agree to pay all amounts due on your billing account upon demand.
7.5 Change of the authorized amount
If the amount to be debited from your billing account is different from the amount you have pre-authorized (other than due to the collection or change in the amount of statutory VAT), we will notify you of the amount to be debited and the date of the debit in good time before the scheduled date of the transaction. You hereby agree that we may accumulate accrued fees and submit them to your payment service provider as one or more aggregate fees during (or at the end of) each billing cycle.
7.6 Reconfirmation of authorization
By not cancelling (or continuing) to use a chargeable Sellix Services, you hereby acknowledge that we are entitled to debit your payment method for said chargeable Sellix Service. We are entitled to claim our chargeable fees relating to Sellix Services from your payment service provider. You are responsible for ensuring that your account with the relevant payment service provider is sufficiently funded, in order that we can collect the fees. This does not mean that we waive our right to claim payment directly from you. With specific regard to cryptocurrency payments, we are entitled to claim our chargeable fees relating to Sellix Services from the personal wallet you will use in relation to payment from/to your customers for the goods and services sold through Sellix Services.
7.7 Free trials and other promotions
Free trials and other promotions that provide access to a chargeable Sellix Services may only be used within the specified trial period. If you continue to access a chargeable Sellix Services after the expiry of this period, you thereby implicitly agree to continue using the service and to pay the fee charged for it (you can find this in the price list https://sellix.io/pricing). If you cancel the chargeable Sellix Services e before the end of the trial period, you will not be charged. If you cancel before the end of the trial period and are inadvertently charged for a chargeable Sellix Services, please contact us at support@sellix.io.
7.8 Cryptocurrencies | Self-Hosted Wallet
With regard to cryptocurrency payments relating to Sellix Services, Sellix hosts and manages every blockchain and cryptocurrency node offered. All our clients retain full control of their personal wallets used to collect cryptocurrencies received directly from their clients in exchange of the goods and services sold through Sellix Services. All Sellix clients are aware and acknowledge that Sellix (i) will only be allowed to collect its fees for the chargeable Sellix Services when the clients broadcast transactions from their personal wallets, and (ii) does not intermediate by any means any cryptocurrency payment from/to their customers for the goods and services sold through the Services.
8. Termination of Services
8.1 We may terminate for convenience with 3 days notice.
8.2 We may terminate your access to all (or part of) the Sellix Services for any of the following reasons without notice and with immediate effect:
(i) In the event of serious breaches of these Terms (in particular, in the event of a breach of the Rules of Conduct), as well as applicable laws, rules and regulations;
(ii) In the event of minor breaches of these Terms, applicable laws, regulations and ordinances.
8.3 In order to cancel your Account, please follow the instructions at https://sellix.io/delete-account or contact Sellix Support at support@sellix.io.
8.4 To the extent that one party terminates the contractual relationship, this shall entail the following consequences:
(i) Sellix will no longer provide its services.
(ii) Sellix will block your access to the data.
(iii) Sellix will not have to reimburse you for fees lawfully charged.
(iv) If you owe Sellix fees, they shall become due immediately and in full.
(v) Sellix will take the shop website offline.
(vi) Sellix will retain the data for a period up to 60 days should it be needed by law enforcement, after which it will be deleted from Sellix’s servers and potentially retained only on old backups, for which there technically is no way of updating the data.
8.5 All provisions of these Terms which, by their nature, survive the process of termination – including (but not limited to) ownership provisions, warranty exclusions, indemnities and limitations of liability – shall survive the termination of the business relationship.
9. Warranty
9.1 We have no special relationship with you, nor do we have any fiduciary duty toward you.
9.2 You hereby acknowledge that we are not obligated to take any action in respect of the following:
(i) Which users are granted access to Sellix Services;
(ii) What content you access through Sellix Services; or
(iii) How you can use the content.
9.3 The Sellix Services are provided on an “as is” and “as available” basis without any representation or warranty, whether express, implied, or statutory. To the maximum extent permitted by applicable law, Sellix specifically disclaims any implied warranties of title, merchantability, fitness for a particular purpose, and/or non-infringement. Sellix does not make any representations or warranties that access to the Sellix site, any part of the Sellix services, or any of the materials contained therein will be continuous, uninterrupted, timely, or error-free. Sellix does not guarantee that any order will be executed, accepted, recorded, or remain open. Except for the express statements set forth in this agreement, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the Sellix Services. Without limiting the foregoing, you hereby understand and agree that Sellix will not be liable for any losses or damages arising out of or relating to: (i) any inaccuracy, defect, or omission of digital asset price data, or any error, delay, or interruption in the transmission of such data; (ii) hacks, viruses or other malicious software obtained by accessing our websites, software, or systems operated by us or on our behalf, or any of the Sellix Services or any website or service linked to our website; (iii) glitches, bugs, errors, or inaccuracies of any kind in our websites, software, systems operated by us or on our behalf, or any of the Sellix Services; or (iv) a suspension or other action taken with respect to your Account.
10. Limitation of liability
10.1 In no event shall Sellix, its affiliates, or their respective officers, directors, employees, agents, or representatives (collectively, the “Company”) be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, data, goodwill, or other intangible losses, arising out of or in connection with your use of, or inability to use, the Sellix Services, even if the Company has been advised of the possibility of such damages.
10.2 The total liability of the Company, whether in contract, tort (including negligence), strict liability, or otherwise, for any claims arising out of or relating to the use of the services shall not exceed the total amount of fees paid by you to the Company for the specific service that gave rise to the claim in the three (3) months preceding the event giving rise to the liability.
10.3 The Company does not guarantee the successful completion of any transaction facilitated through its services. You acknowledge and agree that any cryptocurrency transactions are inherently risky and that the Company shall not be liable for any loss or damage arising from delays, errors, interruptions, or failures in processing transactions, whether caused by the Company, third parties, or other circumstances beyond the Company’s control.
10.4 The Company may provide links to third-party websites or services. The Company is not responsible for the content, products, services, or practices of these third-party sites. You agree that the Company shall not be liable for any damages or losses incurred as a result of your interactions with third-party services.
10.5 You are solely responsible for ensuring that your use of the services complies with all applicable laws and regulations. The Company shall not be liable for any violations of laws or regulations arising from your use of the services.
10.7 Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitations may not apply to you. In such cases, the Company's liability shall be limited to the fullest extent permitted by applicable law.
11. Indemnification
11.1 You agree to indemnify, defend, and hold harmless Sellix, its affiliates, and their respective officers, directors, employees, agents, and representatives from and against any and all claims, losses, damages, liabilities, costs, or expenses (including reasonable attorneys' fees) arising out of or related to:
(i) your use of the services;
(ii) your violation of any applicable laws, regulations, or third-party rights;
(iii) your breach of these terms and conditions; or
(iv) any dispute or claim arising from transactions facilitated through Sellix Services.
11.2 This obligation shall survive the termination of your use of Sellix Services.
12. Sellix’s Intellectual Property and Trademarks
12.1 Sellix’s Intellectual Property
12.1.1 All rights, title, and interest in Sellix, Sellix website and app, and Sellix Services, including but not limited to software, designs, systems, interfaces, and documentation (“Sellix IP”), are and shall remain the exclusive property of Sellix;
12.1.2 No ownership rights in Sellix IP are transferred under these Terms;
12.1.3 Any suggestions, ideas, enhancement requests, or feedback provided by users regarding Sellix IP shall become Sellix’s property without any compensation to the user.
12.2 Sellix’s Trademark Usage and Restrictions
12.2.1 Limited Trademark License:
(i) Users may only use Sellix’s trademarks, logos, and trade dress (“Marks”) as expressly authorized in writing;
(ii) Any authorized use must comply with Sellix’s brand guidelines, as updated from time to time;
(iii) Users must immediately cease use of Marks upon termination of Sellix Services or upon request by Sellix.
12.2.2 Prohibited Uses:
(i) Users shall not use Marks in any way that suggests endorsement or affiliation without written permission;
(ii) Modification of Marks is strictly prohibited;
(iii) Use of Marks in domain names or social media accounts requires prior written approval.
13. Miscellaneous
13.1 Entirety of the Agreement and Separability
These Terms constitute the entirety of the Agreement between you and us regarding Sellix Services, including the use of the website, and supersede all prior or contemporaneous communications and proposals (whether verbal, written, or electronic) between you and us in relation to Sellix Services. Should any provision of these Terms be found to be unenforceable or invalid, said provision shall be limited or waived to the minimum extent necessary, in order that these Terms otherwise remain in full force and effect and are enforceable. Any failure of Sellix to exercise any right provided for herein in any respect shall not be deemed a waiver of any further rights.
13.2 Force majeure
We shall not be held liable for any failure to perform our obligations under these Terms if said failure is deemed to be due to causes beyond our reasonable control, including (without limitation) to mechanical, electronic or communications faults or failures, and we could not have known or prevented the causes at the time of entering into the contract.
13.3 Assignment
These Terms apply to you personally. Any assignment, transfer or the granting of a sublicence shall only be permitted with our prior written consent. We are entitled to assign, transfer or delegate our rights and obligations without your prior consent.
13.4 Representation
These Terms do not create any agency, partnership, joint venture or employment relationship. Neither party shall have any authority to bind the other in any respect.
13.5 Electronic Delivery of Communications
13.5.1 You agree and consent to receive electronically all communications, agreements, documents, notices, and disclosures (collectively, “Communications”) that we provide in connection with your Account and your use of Sellix Services. Communications include:
(i) Terms of use and policies you agree to, including updates to these agreements or policies;
(ii) Account details, history, transaction receipts, confirmations, and any other account or transaction information;
(iii) Legal, regulatory, and tax disclosures or statements we may be required to make available to you; and
(iv) Responses to claims or customer support inquiries filed in connection with your account.
13.5.2 You specifically agree, opt in, and consent to the paperless delivery of tax forms.
13.5.3 We will provide these Communications to you by posting them on the Sellix site, emailing them to you at the primary email address listed in your Sellix profile, communicating to you via instant chat, and/or through other electronic communication such as text message or mobile push notification.
13.6 No waiver
Any failure on our part to enforce any aspect of these Terms shall not constitute a waiver of our right to enforce that or any other part of these Terms at a later date. Any waiver of compliance with these Terms in a particular case shall not mean that we will waive compliance with these Terms in the future. In order for a waiver of compliance with these Terms to be binding, we must notify you of such waiver in writing through one of our authorized representatives.
13.7 Headings
The section and paragraph headings in these Terms are for convenience purposes only, and shall not affect their interpretation.
13.8 Governing Law
You agree that the laws of Italy, without regard to principles of conflict of laws, will govern this agreement and any dispute.
13.9 Arbitration
13.9.1 You and Sellix agree that any dispute, claim, or disagreement arising from your use of the Sellix website or services, or from any communications or products sold through the website, will be resolved through binding arbitration, not in court. This agreement covers disputes that arise both before and after the termination of the user agreement.
13.9.2 You and Sellix agree that disputes will only be brought on an individual basis, not as part of a class, collective, or mass action. The arbitrator can only provide individual relief. If a court in Italy finds that this class action waiver is unenforceable for a particular claim, that claim may be brought to court in Italy, but all other disputes will still go to arbitration.
13.9.3 If a dispute isn’t resolved through Sellix’s formal complaint process within 30 days, either party can request arbitration. The arbitration will be administered by the Milan Chamber of Arbitration (“CAM”) under its Rules of Arbitration in effect at the time the request is made. Arbitration will be conducted in Milan, Italy, unless otherwise agreed by the parties.
Arbitration fees will follow the CAM rules, and the arbitrator will have the authority to manage a reasonable exchange of information between the parties.
13.9.4 The arbitrator will be selected from the Milan Chamber of Arbitration’s roster of qualified arbitrators. If the parties cannot agree on an arbitrator within 14 days of the arbitration request, the CAM will appoint one.
13.9.5 The arbitrator has the exclusive authority to resolve all disputes, including issues regarding the interpretation and enforceability of this agreement. However, disputes about class action waivers or payment of arbitration fees will be decided by a court. The arbitrator’s decision is final and binding, and their award can be enforced by any court with jurisdiction.
13.9.6 Each party will bear its own attorney’s fees unless the arbitrator finds the claim to be frivolous or made for improper purposes. If arbitration is compelled through a court in Italy, the winning party may recover reasonable costs and fees.
13.9.7 If, for any reason, a dispute is found to be not subject to arbitration or is deemed non-arbitrable, such dispute shall fall under the exclusive jurisdiction of the competent courts of Italy. In such cases, the parties hereby submit to the jurisdiction of the courts located in Italy and agree that such courts shall have exclusive competence over any non-arbitrable claims.
13.9.8 Sellix will notify you of any changes to this arbitration agreement. Your continued use of Sellix’s services after changes are posted means you accept those changes.
ADVANCED SERVICES TERMS | Sellix
In addition to the Sellix Services described in the Terms, the following services (“Advanced Services”) may be made available by Sellix to users who fulfill certain eligibility criteria. The provisions for each Advanced Service herein apply to your use of such Advanced Service, in addition to the other applicable provisions of the agreement.
1. Custodial Services
1.1 Hosted Wallet Services
Sellix will provide qualifying users: (i) hosted crypto-assets wallet(s), (a “Hosted Crypto-Assets Wallet”) and (ii) a hosted fiat wallet, which is an account for holding fiat (a “FIAT Wallet”).
Your Hosted Crypto-Assets Wallet allows you to store, track, transfer, and manage your balances of supported digital assets as designated on the Sellix website. We securely store crypto-assets private keys, which are used to process transactions, in a combination of online and offline storage. As a result of our security protocols, it may be necessary for us to retrieve private keys or related information from offline storage in order to facilitate crypto-assets transfers in accordance with your instructions. Under no circumstances should you attempt to use your Hosted Crypto-Assets Wallet to store, send, request, or receive any assets other than supported crypto-assets. Sellix may, in its sole discretion, terminate support for any particular crypto-assets.
Your FIAT Wallet allows you to hold and transfer FIAT. To the extent that your FIAT is held as cash, the balance of your FIAT Wallet is maintained in custodial accounts at third-party insured depository institutions/banks. The current list of the insured depository institutions/bank at which Sellix may deposit customer funds is located here.
1.2 Crypto-Assets Protocols
Sellix does not own or control the underlying protocols that govern the operation of crypto-assets. Generally, the underlying protocols are open source, and anyone can use, copy, modify, and distribute them. We assume no responsibility for the operation of the underlying protocols and do not guarantee the functionality or security of network operations. In particular, the underlying protocols may be subject to sudden changes in operating rules (including “forks”). It is your responsibility to make yourself aware of upcoming operating changes, and you must carefully consider publicly available information. In the event of any such operational change, Sellix reserves the right to take such steps as may be necessary to protect the security and safety of assets held.
1.3 Crypto-Assets Custody, Ownership and Control
All supported crypto-assets held in your Hosted Crypto-Assets Wallet are custodial assets held by Sellix for your benefit. Ownership shall at all times remain with you. All interests in crypto-assets we hold for Hosted Crypto-Assets Wallet are held for customers, are not property of Sellix, and are not subject to claims of Sellix’s creditors. As the owner of the supported crypto-assets in your Hosted Crypto-Assets Wallet, you shall bear all risk of loss of such supported digital assets. Sellix shall have no liability for supported crypto-assets fluctuations or loss. Except as required by law, or except as provided herein, Sellix will not sell, transfer, hypothecate, supported crypto-assets in your Hosted Crypto-Assets Wallet unless instructed by you.
At any time, subject to regulatory requirements outages, downtime, protocol requirements, time to conduct blockchain operations to fulfill your request, and other applicable policies, you may withdraw your supported crypto-assets by instructing Sellix to debit the applicable supported crypto-assets from your Hosted Crypto-Assets Wallet and transfer the crypto-assets to a different blockchain address.
1.4 Segregation
In order to more securely and effectively custody assets, Sellix ensures that customer funds, crypto-assets and FIAT, are fully segregated from its own assets.
2. Onramp, Offramp, and Crypto-Assets Transactions
2.1. FIAT Funds
You can load funds into your FIAT Wallet from a valid bank account. Your FIAT balance is in a pending state and will not be credited to your FIAT Wallet until after the bank transfer has cleared. We may debit your linked bank account as soon as you initiate payment. The name on your linked bank account and your wire transfer must match the name verified on your Account.
2.2 Onramp (FIAT-to-Crypto) Transactions
You may convert fiat currency into supported crypto-assets through our platform, subject to:
(i) Payment Method: Accepted fiat currencies and payment methods will be displayed at the time of the transaction.
(ii) Processing Time: While we strive to process onramp transactions quickly, processing times may vary depending on external banking systems or crypto network confirmations.
(iii) Fees: All onramp transactions may incur additional fees, which will be disclosed prior to confirmation.
(iv) Transaction Limits: Minimum and maximum transaction limits may apply, depending on your account verification level.
2.3 Offramp (Crypto-to-Fiat) Transactions
You may convert crypto-assets into fiat currency through our platform, subject to:
(i) Withdrawal Method: The fiat currency will be deposited into your linked bank account, subject to the available methods.
(ii) Processing Time: Offramp transactions are subject to delays based on external factors such as banking hours or crypto network congestion.
(iii) Fees: Fees for offramp transactions will be clearly stated before you confirm the transaction.
(iv) Transaction Limits: Minimum and maximum withdrawal limits may apply based on your account status and verification.
2.4 Crypto-Assets Transactions on Sellix
When you transact supported crypto-assets on Sellix, Sellix acts as the agent, transacting on your behalf, to facilitate that purchase or sale between you and other Sellix customers. Your transaction must follow the relevant instructions on the Sellix website. Transacted supported crypto-assets will usually be deposited in your crypto-assets wallet instantly and can be exchanged for other crypto-assets or FIAT. You will be able to transact crypto-assets as soon as funds have settled to Sellix. If Sellix cannot complete your transaction for any reason (such as price movement, market latency, inability to find a counterparty for your transaction), Sellix will reject the order and notify you of such rejection. Sellix will not charge you fees for any rejected transaction; however, you may incur gas or other blockchain fees depending on the type of asset used.
2.5 Fees. In general, Sellix makes money when you make transactions on the Sellix website. A description of the way fees are calculated can be found at: https://sellix.io/pricing. By using Sellix Services, you agree to pay all fees and, if applicable based on the service, a spread. While Sellix reserves the right to adjust its pricing and fees and any applicable waivers at any time, we may provide at least 30 days’ prior notice of certain changes to our pricing schedule, or terms, conditions, and policies to users in some states where required by applicable law. We will also notify you of the final price of each transaction, inclusive of pricing and fees, when you authorize the transaction and in each receipt we issue to you. We may charge network fees (miner fees) to process a transaction on your behalf. Bank fees charged to Sellix are netted out of transfers to or from Sellix. You are responsible for paying any additional fees charged by your financial service provider. We will not process a transfer if associated bank fees exceed the value of the transfer. You may be required to deposit additional FIAT to cover bank fees if you desire to complete such a transfer.
2.6 Revocation. When you give us instructions to make a transaction, you cannot withdraw your consent to that transaction unless the transaction is not scheduled to occur until a future date. In the case of a future transaction, you may withdraw your consent up until the end of the business day before the date that the future transaction is scheduled to take place. To withdraw your consent to a future transaction, you must follow the instructions on the Sellix website. You cannot cancel, reverse, or change any transaction marked as complete or pending. If your payment is not successful, if your payment method has insufficient funds, or if you reverse a payment made from funds in your bank account, you authorize Sellix, in its sole discretion, either to cancel the transaction or to debit your other payment methods, in any amount necessary to complete the transaction. You are responsible for maintaining an adequate balance and/or sufficient credit limits in order to avoid overdraft, non-sufficient fund (NSF), or similar fees or penalties.
2.7 Unauthorized and Incorrect Transactions. When a transaction occurs using your credentials, we will assume that you authorized such transaction. If you believe you did not authorize a particular transaction or that a transaction was incorrectly carried out, you must contact us as soon as possible via our help page at https://help.sellix.io or at support@sellix.io. If the issue requires immediate attention for large amounts or potentially critical occurrences, you can reach out to us at admin@sellix.io.
2.8 Account Information. You will be able to see your balances and transaction history using the Sellix website.
2.9 Inbound and Outbound crypto-assets transaction in particular
When you or a third party sends crypto-assets from an external wallet (“Inbound Transfers”), the person initiating the transaction is solely responsible for executing the transaction properly. This includes ensuring that the crypto-assets being sent are supported crypto-assets that conform to the particular wallet address to which funds are directed.
When you send supported crypto-assets from your Account to an external wallet (“Outbound Transfers”), such transfers are executed at your instruction by Sellix. You should verify all transaction information prior to submitting instructions to us. Sellix bears no liability or responsibility if you enter an incorrect blockchain destination address, incorrect destination tag/memo, or if you send your supported crypto-assets to an incompatible wallet. Crypto-assets transfers cannot be reversed once they have been broadcast to the relevant network, although they may remain in a pending state, and designated as such, while the transaction is processed by network operators.
Sellix has processes and checks in place to help prevent these occurrences; however, due to cryptographic limitations, they may still happen.