Rimoswap - Terms of Service

Terms of Service

1. Introduction

Welcome to Rimoswap, a centralized cryptocurrency exchange platform. By accessing or using our services, you agree to comply with and be bound by these Terms of Service. Please read them carefully before using the platform.

2. Eligibility

You must be at least 18 years old and legally capable of entering into binding contracts to use Rimoswap. By registering for an account, you confirm that you meet these requirements.

3. Account Registration and Security

You agree to provide accurate and complete registration information when creating an account on Rimoswap. You are solely responsible for maintaining the security and confidentiality of your account, including your login credentials. Any activity conducted through your account is your responsibility.

4. Know Your Customer (KYC) and Anti-Money Laundering (AML)

We are compliant with the relevant laws, including the Central Bank of Nigeria (CBN) regulations and guidelines issued by the Nigerian Financial Intelligence Unit (NFIU) for Know Your Customer (KYC) and Anti-Money Laundering (AML). You are required to provide valid identification as part of our onboarding process. Failure to provide such documentation may result in the suspension or termination of your account.

5. Use of the Platform

You agree to use Rimoswap for lawful purposes only and in compliance with all applicable laws and regulations. You are prohibited from using the platform for illegal activities, including but not limited to money laundering, terrorism financing, and fraud.

6. Deposits and Withdrawals

All deposits and withdrawals on Rimoswap must comply with the following conditions:

Fiat (Naira) Transactions: Users may deposit and withdraw Naira (NGN) through approved methods. You are responsible for complying with all applicable tax regulations in Nigeria when engaging in transactions involving NGN.
Crypto Transactions: Users can deposit and withdraw supported cryptocurrencies. Fees may apply for certain transactions.

7. Trading on Rimoswap

Rimoswap facilitates the buying, selling, and trading of cryptocurrencies. By using our platform, you acknowledge that cryptocurrency trading involves significant risk, and you are solely responsible for any financial losses. Rimoswap does not guarantee profits and will not be held liable for any losses incurred by users.

8. Fees

Rimoswap charges transaction fees on spot trades and Dswaps. Fees are displayed before executing any transaction. We reserve the right to adjust the fee structure at any time, and it is your responsibility to review these fees prior to making a transaction.

9. Market Volatility and Liquidity Risks

Cryptocurrency markets can be highly volatile. Price fluctuations may result in significant losses, and you understand and accept that Rimoswap cannot be held responsible for these risks. In addition, market liquidity may vary and affect your ability to execute trades at desired prices.

10. Order Execution

Rimoswap will attempt to execute all orders placed on the platform to the best of our ability. However, we do not guarantee that all orders will be fulfilled due to factors such as market liquidity, technical issues, or other constraints.

11. Third-Party Representatives for Order Books

In cases where coins are listed on Rimoswap by external parties, representatives from those teams may assist in filling the order books. These third-party representatives agree to act in accordance with our policies, and Rimoswap assumes no responsibility for their actions beyond the terms agreed upon.

12. Prohibited Activities

You agree not to engage in any of the following activities:

Attempting to hack, DDoS, or interfere with the platform’s operations.
Creating fake or spam accounts.
Using bots or any form of automated trading not authorized by Rimoswap.
Engaging in any fraudulent, deceptive, or manipulative trading practices.

13. Dispute Resolution

In the event of any dispute arising out of or related to the use of Rimoswap, the parties agree to seek an amicable resolution through negotiation. If the dispute cannot be resolved, it will be subject to the exclusive jurisdiction of the courts in Nigeria. Both parties agree to submit to the jurisdiction of the Nigerian courts.

14. Termination of Services

Rimoswap reserves the right to suspend or terminate your account without notice if we suspect any violation of these terms or if required by law. Any outstanding balance in your account may be frozen or confiscated in compliance with legal orders.

15. Governing Law

These Terms of Service shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any disputes, claims, or legal proceedings arising out of these terms shall be subject to the exclusive jurisdiction of the courts located in Nigeria.

16. Privacy Policy

Rimoswap respects your privacy and is committed to protecting your personal information. Our Privacy Policy outlines how we collect, use, and protect your data. By using Rimoswap, you agree to the collection and use of your information in accordance with our Privacy Policy.

17. Indemnification

You agree to indemnify, defend, and hold harmless Rimoswap, its affiliates, and its team from any claims, damages, liabilities, or expenses arising out of your use of the platform, violation of these terms, or breach of applicable laws.

18. Limitation of Liability

Rimoswap shall not be liable for any indirect, incidental, or consequential damages arising from your use of the platform, including but not limited to loss of profits, trading losses, or disruptions to the platform. Our liability is limited to the amount of fees you have paid to Rimoswap for services provided.

19. Changes to the Terms of Service

We reserve the right to modify these Terms of Service at any time. Users will be notified of any significant changes via email or the platform, and continued use of Rimoswap after the changes have been implemented signifies your acceptance of the revised terms.