Условия и положения


Secure Bitcoin Traders Private Limited ("OpenCoin") reserve the right to update and change, from time to time, these Terms and Conditions, the Privacy Policy, the KYC and Anti Fraud Policy and all other documents incorporated herein by reference without any notice to or re-acceptance from the User. By registering with OpenCoin and creating your account ("Account") to use the live trade engine for trading in Bitcoins ("Trade Engine"), you ("User") are hereby agreeing to be bound by these terms and conditions ("Terms and Conditions").


2.1 OpenCoin only provides a platform for trading in Bitcoins. The User hereby expressly agrees and warrants that:

  • The User is aware that Bitcoins are a volatile commodity whose price is subject to sharp changes which may cause large profits or losses to the user.
  • OpenCoin has in no way induced or lured the User into opening an Account with OpenCoin to trade in Bitcoins.
  • The money used to buy the Bitcoins has been received by the User through legal means and channels are is not in any way connected with any illegal or fraudulent activity.
  • The User is the legitimate owner and is allowed to use all Bitcoins deposited on his/her Account and that the transactions being carried out by the User do not infringe the rights of any third party or any applicable laws.
  • All information provided by the User to OpenCoin including all identity and personal information as well as documents are true and accurate in all respects.
  • The User shall use the Account with OpenCoin only for non commercial activities.
  • The User is above 18 years of age and has the legal and mental capacity to enter into legally binding contracts with third parties.
  • The User is aware that OpenCoin may change these Terms and Conditions at any time and the User hereby gives consent in advance to such change.

2.2 OpenCoin and its owners/affiliates are not liable for any damages caused by any performance, failure of performance, error, omission, interrupton, deletion, defect, delay in transmission or operations, computer virus, communications line failure, and unauthorized access to the personal accounts. OpenCoin is not responsible for any technical failure or malfunction of the software or delays of any kind. We are also not responsible for non-receipt of registration details or e-mails. Users shall bear all responsibility of keeping the password secure. OpenCoin is not responsible for the loss or misuse of the password.

2.3 OpenCoin is not responsible for the content of any of the linked sites. By providing access to other web-sites, OpenCoin is neither recommending nor endorsing the content available in the linked websites.

2.4 OpenCoin and the User are aware that although there is no legal bar or impediment to trading in Bitcoins in Europe at the moment, the Reserve Bank of Europe (RBI) has issued a press release no. 2013-2014/1261 dated 24th December 2013 whereby it has stated that "The creation, trading or usage of VCs including Bitcoins, as a medium for payment are not authorised by any central bank or monetary authority. No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities. As such, they may pose several risks to their users". The press release further states that the RBI is still "examining the issues associated with the usage, holding and trading of VCs under the extant legal and regulatory framework of the country". The full text of the said press release can be found at info@opencoin.finance The User is hereby made aware of the nebulous legal situation regarding Bitcoins and OpenCoin shall not be liable for any proceedings against the User in any Court of law or before any governmental, administrative, regulatory, judicial or quasi judicial authority.

2.5 Although the press release by the RBI mentions the risks associated with all virtual currencies including Bitcoins, it does not specifically bar them. Keeping in mind some of the risks mentioned in the press release by the RBI OpenCoin has drafted a Privacy Policy as well as a KYC and Anti Fraud Policy which are available on the OpenCoin website and the User specifically agrees to the terms contained in both the above mentioned policies.


3.1 The User acknowledges that he is fully aware of the risks involved in online trading activities, including the risk involved due to unauthorized access or any technical difficulties. Furthermore, in a technical environment, should an error occur with respect to the tracking of any account holding or order entry, the true, actual and correct transaction or position may not be restored. It is the User's responsibility to ensure account correctness and accuracy and to contact OpenCoin immediately in respect of any discrepancies.

3.2 Users are advised to use the content and data on the website for the purpose of information only and rely on their own judgment while making investment decisions. In case OpenCoin gives any information on the website, such information shall not be considered as advice of any kind and the User shall use its own judgment to make all decisions.

3.3 OpenCoin does not make any personal recommendations. The information on our website is provided solely to enable Users to make their own investment decisions and does not constitute a recommendation to buy, sell or otherwise deal in Bitcoins.

3.4 The price and value of investments in Bitcoins and the income derived from them can go up or down and you may not get back the capital invested. Changes in the rate of exchange may have an adverse effect on the value, price and value of your investment. Past performance is not necessarily an indicator of future performance. The services and investments in Bitcoins may have tax consequences and it is important to bear in mind that OpenCoin does not provide any tax advice regarding Bitcoins and the increase or decrease in their value. The level of taxation depends on individual circumstances and such levels and bases of taxation can change. You should consult your own Tax Advisor in order to understand any applicable tax consequences.

3.5 Bitcoin trading has specific risks, which are not shared with other official currencies, goods or commodities in a market. Unlike most currencies, which are supported by government reserves or other legal entities, as well as commodities such as silver and gold, Bitcoin is a "flat" currency, which is only backed by mathematics, technology and trust. The currency is absolutely decentralized, which means there is no authority that can take corrective measure to protect the Bitcoin value in a crisis or issue more currency. When using Bitcoins - traders put their trust in the digital, decentralized and mostly anonymous system, which relies on P2P networking and cryptography to maintain its integrity. Trading in Bitcoins is susceptible to irrational or rational bubbles or absolute loss of confidence, which could collapse demand/supply. Any actions, even remotely connected to Bitcoins can crash confidence in this currency, such as unexpected changes imposed by the currency developers, a government crackdown, the creation of a superior competing Bitcoin alternative, or even a deflation or inflation spiral. Confidence might also collapse because of various technical problems: if the anonymity of the system can be compromised, funds lost or stolen, or in the event that hackers or governments become able to prevent Bitcoin transactions from settling. OpenCoin shall not be liable for any loss caused to the User due to any of the risks related to trading in Bitcoins, whether currently known or unknown.

3.6 Bitcoins purchased using a bank account or credit card or any other deposit method may be reversed at a later time, for example, if such a payment is subject to a chargeback, reversal, claim or is otherwise invalidated. A Bitcoin transaction may be unconfirmed for a period of time (usually less than one hour, but up to one business day) and never complete if it is in a pending state.

3.7 The content of the website cannot be copied, reproduced, republished, uploaded, posted, transmitted or distributed for any non-personal use without obtaining prior permission from OpenCoin. We reserve the right to terminate the accounts of Users who violate the proprietary rights, in addition to necessary legal action.

3.8 Users agree that the information gathered from the Users' profiles may be used to enhance their experience on the website. OpenCoin will not rent or sell the profile to any third party other than in accordance with the Privacy Policy. In case of a contest or a promotion scheme, OpenCoin reserves the right to share the User profiles with the sponsors. In the event of necessary credit checks and collection of payments, OpenCoin can disclose such information to other authorities in good faith.

3.9 Price and availability of products and services offered on the site are subject to change without prior notice. OpenCoin may provide information about the availability of products or services to a certain extent but the Users should not rely on such information. OpenCoin will not be liable for any lack of availability of products and services the User may order through the site.


4.1 General: The User hereby agrees and warrants that all information and particulars provided by the User has been provided voluntarily without any inducement or pressure and is true to the best of his/her knowledge and belief. In case of any particulars provided by the User being incorrect or fraudulent, OpenCoin shall be at liberty to terminate the User's account. OpenCoin further reserves the right, at its sole discretion, to deny the User access to the Trade Engine or any portion thereof without notice for the following reasons: (a) any unauthorized or illegal access or use by the User; (b) any assignment or transfer (or attempt to do the same) of any rights granted to the User under these Terms and Conditions; (c) any violation of these Terms and Conditions.

4.2 Using Google ID: Users may be given the option of signing in using their Google IDs. Logging on to OpenCoin with the Gmail account gives the User the convenience of not having to remember yet another password - without compromising on privacy, or the safety of the individual email account. OpenCoin does not store the User's Google password information. The password of every User who chooses to log in using the Google ID is sent to Google for verification, and is not saved on our systems.

4.3 Single Registration: Each individual is allowed to register only once and no person is allowed to create multiple Accounts. If any User is found to be using or registered with multiple Accounts, such User's access to the Trade Engine may be terminated. The use of scripts or any automated system to register is strictly prohibited. OpenCoin assumes no responsibility for lost, late, incomplete, incorrect, or misdirected registrations. OpenCoin is not responsible for technical, hardware or software malfunctions, misdirected entries, lost or unavailable network connections, or other communications or other technical problems related to the registration.


5.1 OpenCoin shall accept deposits from an account held by the User in any scheduled Europen bank. The process of linking shall be as follows: Click on the "Bank" link on the web page after logging into your Account. Fill in the bank details requested on the web page including bank account number, IFSC Code, etc. and submit the same. Your OpenCoin Account will, after verification, automatically get linked to your Bank Account.

5.2 OpenCoin expressly disclaims all responsibility for any loss caused to the User due to the linking the User's OpenCoin Account with the User's bank account or while executing any trades using OpenCoin, for whatever reason, unless the same has been caused due to the gross negligence of OpenCoin.

5.3 Directing the proceeds of a sale to a third party is expressly prohibited and will result in immediate suspension of the Account. A third party is any party other than the User and OpenCoin. The User is expressly prohibited from opening an account under a third party or fictitious name for the purpose of using this service to pay a third party. Users are expressly prohibited from registering a payment method for a third party in their OpenCoin Account for the purpose of using this service to pay a third party. Third party transactions are expressly prohibited and will result in immediate suspension and termination of the Account.


5.1 OpenCoin shall accept deposits from an account held by the User in any scheduled Europen bank. The process of linking shall be as follows: Click on the "Bank" link on the web page after logging into your Account. Fill in the bank details requested on the web page including bank account number, IFSC Code, etc. and submit the same. Your OpenCoin Account will, after verification, automatically get linked to your Bank Account.

Opening Account And Starting

Once the User creates an Account by registering with OpenCoin, the User will be allowed to enter the exchange area. Each Account will be linked with the User's bank account as per the details provided by the User who can use the money in such linked bank account and start trading with other users. Once the User enters the trading area the User will see the following displays:

  • Buy Price – This is the current price at which the Users can purchase Bitcoins. This is the exchange rate based on the last trade that has been completed ("Buy Price"). A User can also choose to input his/her own specific bid price when the User places a trade request.
  • Sell Price – This is the current price at which the Bitcoins can be sold. This is the exchange rate based on the last trade that has been completed ("Sell Price"). A User can also choose to put in his/her own specific ask price when the User places a trade request.
  • 24 Hr High – Is the highest price of Bitcoins on the exchange in the last 24 Hours.
  • 24 Hr Low – Is the lowest price of Bitcoins on the exchange in the last 24 Hours.
  • 24 Hr INR Volume – This is the total amount of Rupees that have been transacted on the exchange in the last 24 Hours.
  • 24 Hr BTC Volume – This is the total amount of Bitcoins that have been transacted on the exchange in the last 24 Hours.

7 OpenCoin Price Comparison Chart

The OpenCoin Price Comparison Chart displays the various "ask prices" and "bid prices" data over various periods which can be selected by the User. The data can be modified by the User upon changing the data range, i.e. Users will be able to select options such as last 10, 15, 50, etc. bids or the time frame eg: one year, one month, one week, etc and be able to view the trades that have taken place on the exchange for such chosen time period. This is merely a pictorial representation for the benefit of the Users.

Account Balance

The Users will also be able to view the current balance in their account at all times. A Users account balance shall display the Bitcoin balance currently in the User's account.

My Tradebook

"My Trade Book" displays all of the User's pending trade requests (Both Buy and Sell transactions) that are yet to be executed/ completed. In the event that a User's trade has not been completed, the User can choose to cancel the order by clicking on the 'X' icon corresponding to such trade request that is pending. Please note that a trade request can only be cancelled when it's still pending and reflecting under 'My Trade Book'. Once a transaction has been executed/ completed, it may no longer be cancelled.

All Completed Trades

In the "All Completed Trades" Section the Users will be able to see all the trades (both Buy and Sell transactions) pertaining to the User.

Buy Transaction

Buying Bitcoins at current exchange rate

Step 1: In the event that User intends to purchase Bitcoins, the User is required to place a trade request with the exchange platform for the same. This can be done by specifying the amount of Bitcoins that the User intends to buy and thereafter clicking "Buy".

Step 2: Once the User inputs the amount and clicks on "Buy", the trade engine would automatically pick up the current "Buy Price" on the exchange and place the User's trade request at that price

Step 3: In the event that there is a pending "Sell Order" for the price at which the User's bid has been placed, the order would be executed immediately and the User's balance would reflect the updated statistics. This can be achieved by matching the User's order with a single order of such quantity and price, if available or if a single order with the required price and amount is not pending, the trade engine will complete the User's order by matching it with multiple orders and then complete the User's order in multiple tranches.

Step 4: If a User's trade request does not match with any of the existing requests on the trading platform, then such request shall automatically move into the waiting list of pending transactions for it to be matched with an appropriate "Sell Order" as and when such a request is received. In this case, the User's balance would remain intact until the transaction is completed. While the transaction is pending, the User may cancel the transaction through the "My Tradebook" tab as explained above.

Buying Bitcoins at specific price determined by the User

Step 1: The User can also choose to input the specific value at which the User intends to buy Bitcoins. This value can be entered when placing the Buy Order by manually changing the amount at which the User intends to buy the Bitcoins in the field provided and clicking the "Buy" button to place the trade request.

Steps 2 to 4 shall remain the same as with a normal Buy Order without the specific price, as explained above.
Buying Bitcoins from pending orders The User also has the option to buy Bitcoins from the orders pending on the exchange platform. In order to buy Bitcoins in this manner the User is required to scroll to the "Last Sell Orders" tab. The User will be able to browse all the unfulfilled Sell Orders that are pending on the exchange platform. The User can then choose the Sell Order that the User intends to fulfil and click on the "+" symbol on the corresponding line and click Buy to complete the transaction. The "Sell Orders" are listed from top to bottom based on the price which has been quoted in each "Sell Order" with the "Sell Order" quoting the least price being at the top. The "Last Sell Orders" tab displays the cumulative quantity of Bitcoins available for sale and if a Buyer buys Bitcoins from the "Last Sell Orders" tab, the exchange will automatically execute the sale for the Bitcoins available for sale at the lowest price first, followed by the next highest price and so forth.

Selling Bitcoins using pending orders

The User also has the option to sell Bitcoins from the orders pending on the exchange platform. In order to sell Bitcoins in this manner the User is required to scroll to the "Last Buy Orders" tab. The Users will be able to browse all the unfulfilled Buy Orders that are pending on the exchange platform. The User can then choose the Buy Order that the User likes and intends to fulfil and click on the "+" symbol on the corresponding line and click "Sell" to complete the transaction. The "Buy Orders" are listed from top to bottom based on the price which has been quoted in each "Buy Order" with the "Buy Order" quoting the maximum price being at the top. The "Last Buy Orders" tab displays the cumulative quantity of Bitcoins available for sale and if a Seller sells Bitcoins at the "Last Buy Orders" tab, the exchange will automatically execute the sale for the Bitcoins available for sale at the maximum price first, followed by the next lower price and so forth.


The participation by the User in the exchange platform does not in any way constitute any gambling, betting, wager, speculation, lottery, raffle, sweepstakes, etc. in any form whatsoever. There has been no collection of any money, cash or other valuable thing from the User by OpenCoin for any such purpose. OpenCoin only charges a fee from its Users for the services of providing the Trade Engine. The Fee Schedule is subject to change from time to time at the sole discretion of OpenCoin.


8.1 By registering and creating an account the Users assume sole liability for and agree to indemnify and hold OpenCoin, its affiliates, officers, directors, employees and agents, harmless from and against any and all claims, damages, obligations, losses, injuries, costs or debt, and expenses (including but not limited to attorney's fees) claimed to be caused from usage of the Trade Engine or the acceptance, possession and handling, loss, use or misuse of any money or Bitcoins in their Account. OpenCoin reserves the right to cancel, suspend the exchange platform, or any part of it, if any fraud, technical failures, computer virus, bug, tampering, or any other factor impairs the integrity or proper functioning of the promotion, as determined by OpenCoin in its sole discretion. By participating registering and creating an account, the Users agree to be bound by these Terms and Conditions and the decisions of OpenCoin and to be contacted by OpenCoin or its agents by telephone, sms, mail and/or email regarding the Trade Engine or any other products that OpenCoin may offer now or in future.

8.2 The User specifically agrees that OpenCoin shall not be liable for any loss, actual or perceived, caused directly or indirectly by government restriction, exchange or market regulation, suspension of trading, war, strike, equipment failure, communication line failure, system failure, security failure on the Internet, unauthorised access, theft, or any problem, technological or otherwise, or other condition beyond the control of OpenCoin. The User further agrees that it will not be compensated by OpenCoin for "lost opportunity" viz., notional profits on buy/sell orders which could not be executed.


The registrations are open only to persons who are Europen citizens currently residing within the territorial borders of Europe, are 18 years of age or older at the time of registration and are of sound mind and able to make legally enforceable decisions.


The User hereby expressly acknowledges and agrees that the User has initiated the act of registering on OpenCoin entirely of his/her own free will and OpenCoin has not caused, induced, urged, prompted, instigated, drawn, compelled, persuaded or engendered the User to open an Account and trade in Bitcoins in any manner or form.


11.1 The User acknowledges and agrees that OpenCoin may from time to time need to make structural changes to the trading platform that could result in system downtime, i.e. the website and the trading platform being unavailable for access. Any such changes will (where possible or necessary) be broadcast in advance to all Users, and carried out at times which OpenCoin considers will cause the least disruption.

11.2 OpenCoin shall have no liability to the Users for any downtime to the trading platform for any reason whatsoever, nor for any downtime caused by general Internet failure, the failure of any Internet connection or the failure of any User equipment.


In case of any grievance or complaints with the website or its performance please contact OpenCoin at support@OpenCoin.in. Once a complaint has been received, all endeavors will be made to address the complaint as soon as possible.


13.1 OpenCoin may prohibit any User, if OpenCoin is of the opinion that the User is showing a disregard for these Terms and Conditions, or acts (1) in an unfair or fraudulent manner; (2) with an intent to annoy, abuse, threaten, or harass any other User or OpenCoin; or (3) in any other disruptive manner.

13.2 The use of software, machines, computers, scripts or any automated system is strictly prohibited. If any User tries to influence the rate of exchange of Bitcoins or gain an unfair advantage in any manner whatsoever, such User shall be liable to be prohibited from conducting any further transactions on the Trade Engine and may be reported to the appropriate authorities. Any decision in this regard shall be taken at the sole discretion of OpenCoin and shall be final.

13.3 Any attempt by a User or any other individual to deliberately damage the website or undermine the legitimate operation of OpenCoin is a violation of criminal and civil laws and should such an attempt be made, OpenCoin reserves the right to seek damages from any such User to the fullest extent permitted by law.

13.4 Completion of a transaction may be stopped by OpenCoin at any time if OpenCoin, in good faith, believes that such transaction may be fraudulent or may adversely impact the Bitcoin economy, or may adversely impact the exchange rate of Bitcoins, etc.

13.5 The OpenCoin website is for the exclusive purpose of transactions to be carried out within the territorial jurisdiction of Europe and all such transactions shall be governed by the laws in Europe. Notice is hereby given that Non Resident Europens (NRI's) and Foreign Nationals accessing this web site and opting to transact thereon shall do so after due verification at their end of their eligibility to do so. OpenCoin undertakes no responsibility for such pre-eligibility of qualification on part of Non-Resident Europens (NRI's) or Foreign Nationals to transact on this website.

13.6 The User agrees that, whenever a transaction is made, the Trade Engine sends and receives the monetary sums and/or Bitcoins from the User's Account in the User's name and on the User's behalf, through the system.

13.7 The User is responsible for maintaining the confidentiality of information on his/her Account, including, but not limited to the password, email, wallet address, wallet balance, and of all activity including transactions made through the Account. If there is suspicious activity related to the User's Account, OpenCoin may request additional information from the User, including authenticating documents, and freeze the Account for the review time. The User is obligated to comply with these security requests, or accept termination of the Account.

13.8 The User shall be solely responsible for ensuring that any transfer of Bitcoins to a transferee shall be a valid and legal transaction not infringing any laws including money-laundering laws and regulations of Europe or any other applicable jurisdiction.

13.9 OpenCoin reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of six (6) months or more, and/or to modify or discontinue exchange platform or the Trade Engine. The User agrees that OpenCoin will not be liable to them or to any third party for termination of their Account or access to the website. The suspension of an Account shall not affect the payment of the commissions due for past transactions. Upon termination, Users shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Bitcoins may be transferred to a valid bank account only after conversion into a currency. It can be transferred through Bitcoin too at the sole discretion of OpenCoin, if it feels such a transfer is more convenient.

13.10 Order Sizes and Rounding Off
(i) Orders are defined using (1) the type (buy/sell), (2) the volume of coins to be traded (in Satoshis), and (3) the rate at which to trade (in Paise per BTC) (NOT Satoshi). The smallest unit of INR ('fiat') is 1 Paise (Users cannot, for example, specify 0.5 paise). The smallest unit of BTC ('coin') is 1 Satoshi (Users cannot, for example, specify 0.5 Satoshi). However, note that the Trade Exchange shall not process order amounts smaller than 100000 Satoshi. For clarity on the Order Sizes and Conversion rates please see the table below:

1 BTC = 100000000 Satoshis.
1 INR = 100 Paise.
Max. Satoshis in one order: 100000000000000 (or max 1000000 BTC per order).
Min. Satoshis in one order: 100000 (or min 0.001 BTC per order)
(Satoshi amount in any order must be an integer multiple of above min amount).
All rounding off beyond the given amounts will be done in favour of OpenCoin.

Rate RangeThe Trade Exchange will also execute orders within a specified rate range so as to avoid manipulation and undue volatility. The maximum and minimum rates allowed on the Trade Exchange are:

Max. rate per order (in Paise/BTC): 1000000000000 (or max 10000000000 INR per BTC). Min. rate per order (in Paise/BTC): 1000 (or min 10 INR per BTC).


14.1 OpenCoin is not responsible for any incorrect or inaccurate registrations, whether caused by the User or by any of the equipment or programming associated with or utilized in the Trade Engine or by any technical or human error which may occur in the operation of the Trade Engine. The User expressly understands and agrees that under no circumstances shall OpenCoin be liable to any User on account of that User's use or misuse of and reliance on the OpenCoin website. Such limitation of liability shall apply to prevent recovery of direct, indirect, incidental, consequential, special, exemplary, and punitive damages (even if OpenCoin has been advised of the possibility of such damages), whether the damages arises from use or misuse of or reliance on the Trade Engine, from inability to use the Trade Engine, or from the interruption, suspension, of the Trade Engine (including such damages incurred by third parties), or from a sudden loss in the price of Bitcoins, or any technical failure or hacking attacks on the OpenCoin Servers, or any change in law or regulatory framework in Europe.

14.2 All information is provided on an "as is" basis, with no warranties whatsoever. A possibility exists that the site could include inaccuracies or errors. Additionally, a possibility exist that unauthorized additions, deletions or alterations could be made by third parties to the site. Although OpenCoin attempts to ensure the integrity, correctness and authenticity of the site, it makes no guarantees whatsoever as to its completeness, correctness or accuracy. In the event, that such an inaccuracy arises, please inform OpenCoin so that it can be corrected.

14.3 All express, implied, and statutory warranties, including, without limitation, the warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights, are expressly disclaimed to the fullest extent permitted by law. To the fullest extent permitted by law, OpenCoin disclaims any warranties for (i) the security, reliability, timeliness, and performance of the Trade Engine; (ii) other services or goods, as well as for any information or advice received through OpenCoin or through any links provided herein.

14.4 The User agrees that OpenCoin shall not be liable for:

14.5 OpenCoin cannot and does not guarantee or warrant that the files available for downloading through the Trade Engine or the Trade Engine itself will be free from infection by software viruses or other harmful computer code, files or programs. OpenCoin shall not be responsible for any software viruses or other harmful computer code, files or programs that the user may encounter due to your visiting this trade engine

  • the deletion, failure to store, misdelivery, or untimely delivery of any information or material;
  • any harm resulting from downloading or accessing any information or material through OpenCoin;
  • financial loss due to wallet data being "Bruteforced";
  • financial loss due to server failure or data loss;
  • financial loss due to forgotten passwords;
  • financial loss due to corrupted wallet files;
  • financial loss due to incorrectly constructed transactions or mistyped Bitcoin , Litecoin or other cryprocurrencies addresses;
  • financial loss due to "phishing" or other websites masquerading as OpenCoin.

14.6 OpenCoin has not reviewed all of the sites linked to its trade engine and is not responsible for the contents of any such linked sites. The inclusion of any link does not imply OpenCoin's endorsement of the site. Use of any such linked website(s) is at your own risk.

14.7 If the User has a dispute with one or more users, the User hereby releases OpenCoin (and our parent, officers, directors, agents, joint ventures, employees and suppliers) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. In addition, the User waives any protection available to such User under any law in the User's jurisdiction, which says that a general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor.


(a). The Users agree not to do any of the following:

  • access the website via anonymous networks for view and information purpose;
  • use anonymous service, networks such as TOR to do business with OpenCoin. Any orders placed to our website via anonymous networks such as TOR etc will be canceled and will result in Order Cancellation fees;
  • open multiple Accounts with OpenCoin;
  • defame, abuse, harass, stalk, threaten or otherwise violate the legal rights (such as rights of privacy and publicity) of others;
  • publish, post, distribute or disseminate any defamatory, infringing, obscene, indecent or unlawful material or information;
  • upload files that contain software or other material protected by intellectual property laws (or by rights of privacy of publicity) unless you own or control the rights thereto or have received all necessary consents;
  • upload files that contain viruses, corrupted files, or any other similar software or programs that may damage the operation of another's computer;
  • take any action that imposes an unreasonable or disproportionately large load on OpenCoin's infrastructure; or detrimentally interfere with, intercept, or expropriate any system, data, or information;
  • use any Account other than his/her own, or access the Account of any other User at any time, or assist others in obtaining unauthorized access;
  • conduct or forward surveys, contests, or chain letters; or
  • download any file posted by another user of a forum that you know, or reasonably should know, cannot be legally distributed in such manner.

(b). The usage of the OpenCoin platform by the Users shall not relate to sales of:

  • narcotics, research chemicals or any controlled substances;
  • Adult goods and services which includes pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services;
  • Alcohol which includes Alcohol or alcoholic beverages such as beer, liquor, wine, or champagne;
  • Body parts which includes organs or other body parts;
  • Bulk marketing tools which includes email lists, software, or other products enabling unsolicited email messages (spam);
  • Cable descramblers and black boxes which includes devices intended to obtain cable and satellite signals for free;
  • Child pornography which includes pornographic materials involving minors;
  • Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection;
  • Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials;
  • Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software;
  • Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods;
  • Drugs and drug paraphernalia which includes illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms;
  • Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items;
  • Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction;
  • Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrollment in online gambling sites, and related content;
  • Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles;
  • Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property;
  • Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts;
  • Miracle cures which includes unsubstantiated cures, remedies or other items marketed as quick health fixes;
  • Offensive goods which includes literature, products or other materials that: a) Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors b) Encourage or incite violent acts c) Promote intolerance or hatred;
  • Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals;
  • Prescription drugs or herbal drugs or any kind of online pharmacies which includes drugs or other products requiring a prescription by a licensed medical practitioner;
  • Pyrotechnic devices and hazardous materials which includes fireworks and related goods; toxic, flammable, and radioactive materials and substances;
  • Regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications;
  • Securities which includes stocks, bonds, or related financial products;
  • Tobacco and cigarettes which includes cigarettes, cigars, chewing tobacco, and related products;
  • Traffic devices which includes radar detectors/jammers, license plate covers, traffic signal changers, and related products;
  • Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments;
  • Wholesale currency which includes discounted currencies or currency exchanges;
  • Live animals;
  • Multi-Level Marketing collection fees;
  • Matrix sites or sites using a matrix scheme approach;
  • Work-at-home information;
  • Any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of Europe; or
    any services which compete with OpenCoin.

(c). The user’s usage of the OpenCoin platform shall not relate to transactions that:

  • show the personal information of third parties in violation of applicable law;
  • support pyramid, Ponzi, or other “get rich quick” schemes;
  • are associated with purchases of annuities or lottery contracts, lay-away systems, banking, off-shore banking, foreign exchange, transactions to finance, investing, investment related products, or
  • refinancing debts funded by a credit card;
  • provide credit repair or debt settlement services; or
  • are prohibited by applicable law.


No omission or delay on the part of OpenCoin in enforcing any of its rights or powers hereunder shall be deemed to constitute a waiver of any of OpenCoin's rights to exercise such rights and powers and, in any event, shall not constitute or be construed as a continuing waiver.


These Terms and Conditions and any action related hereto will be governed by the laws of Europe without regard to its conflict of laws provisions. The exclusive jurisdiction and venue of any action with respect to the subject matter of these Terms and Conditions will be the courts in New Delhi, Europe and you hereby waive any objection to jurisdiction and venue in such courts.
By clicking on the "I Accept" button or check box presented with these Terms and Conditions you hereby give your informed consent to the terms and conditions contained herein.

Fortress sales L.P.
  • +41 79 417-59-66
  • info@24opencoin.com
  • 1/2 35 Taits Lane, Dundee, Scotland DD2 1DZ, United Kingdom