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This document was last updated June 30th, 2017.
Welcome to Venture Kingdom
We are a platform (www.venturekingdom.com) for buying, selling and exchanging digital coins and we are part of a vast number of products and services offered by Royal Kingdom Enterprise Ltd.
These Terms and Conditions of Use correspond to a legal agreement between VK Business Ltd. (“Venture Kingdom” or “us”) and the entity or person (“you”, “your” or “user”) who registered (www.venturekingdom.com) to use the services that are offered by Venture Kingdom. This agreement describes the terms and conditions regarding the use of the services.
If you do not understand any of the terms of these Terms and Conditions of Use, please contact us before using the services.
We ask that you make sure that you have previously known and understood all of our operating regulations.
Hence, by clicking on the “accept” option, you are declaring that you agree to all the Terms and Conditions of Use, as described below.
To register on the website, the user must be over 18 years old.
The user undertakes to provide true, current and complete information at the time of his registration and must keep the information updated at all times.
Venture Kingdom is not responsible for the information provided by each user at the time of registration, and such information is provided under the sole responsibility of the user.
The provision of false information or improper use of third-party data on your behalf constitutes a criminal offense and the violator will be subject to existing criminal laws. If any of these cases are verified, Venture Kingdom may permanently suspend or cancel the access of the user to all services and functionalities of the website, without prejudice to the other measures that are ensured by the legislation in force.
Venture Kingdom may, in its sole discretion, request additional documents and information to confirm or maintain the registration of any user. In the event Venture Kingdom decides to exercise this privilege in relation to any user, that user’s registration may be suspended or definitively canceled if the user refuses to provide the information or to send the requested documents or, if still found, From the analysis of such information and documents, that the user entered false or incomplete information at the time of his registration.
Each user can only maintain a single registration on the website. If is verified that there is more than one register relating to the same person, one or all of these registers may be suspended or canceled at Venture Kingdom’s discretion.
Venture Kingdom reserves the right to refuse any registration request and to suspend or cancel a previously accepted registration in the cases of: (a) breach of any of the provisions of these Terms and Conditions of Use, (b) impossibility of verifying the identity of the User or discovery of falsehood in any of the information provided by him, (c) practice of fraudulent or malicious acts or the adoption of any behavior that, at Venture Kingdom’s discretion, is inconsistent with the objectives of the website, with the integraty regarding other users or that may, in any way, cause harm to third parties or to the website.
Should any user’s registration be suspended or canceled for any of the reasons provided in these Terms and Conditions of Use, all of their transactions not yet executed will be automatically canceled.
At the moment of making your registration, the user must create an “username” (login) and a password to access his account on the site.
The “username” (login) may not look similar to the name “Venture Kingdom”. Registrations may also be canceled if the “usernames” (login) are considered offensive or inappropriate.
The login and password are personal and not transferable and should not be given by the user to any persons. If the user is aware that a third party has had access to their login and password, or the occurrence of any unauthorized use of or access to their account on the website, the user should promptly request the password change on the website, through the option “Change Password” in the “Settings” menu, and immediately report the fact to Venture Kingdom via a ticket on the support.
The user will be solely responsible for the operations performed on his platform account.
Through the services provided, Venture Kingdom offers a platform for the purchase, sale and transfer of digital coins by users, transactions made by users themselves, enabling them to trade directly with each other.
Upon completion of the registration by the user, a virtual wallet is created for this user, which can be accessed, consulted and transacted through the use of his password and login.
The virtual wallet represents, in an illustrative way, the deposit of the digital coins in custody, which can be: (i) put up for sale by order of sale of digital coins; (ii) stored.
Transactions made between users are the sole responsibility of these users. Venture Kingdom enables the platform to store digital coins in virtual wallets and digital currency transactions.
The user may use the services to store digital coins and to issue purchase orders and / or sales orders or transfer between users.
Venture Kingdom may use certain parameters of its own to establish certain limits, such as, but not limited to, the number of currency transactions.
Venture Kingdom may, at its sole discretion, increase or decrease the limits initially stipulated.
The user undertakes and is solely responsible for not using the services for direct or indirect purposes to: (i) violate any law, regulation, these Terms and Conditions of Use, nor perform acts contrary to morality and good manners; (ii) practice money laundering; and/or (iii) finance activities and/or organizations involving terrorism, mafia, drug trafficking, persons and/or human organs.
As a condition of use of the services, the user understand and acknowledge that digital currency purchase and sale transactions are carried out at his own risk and that Venture Kingdom acts exclusively as a platform maintainer for users to trade with each other. At no time shall Venture Kingdom be held liable for any losses, damages, losses and/or lost profits that may be suffered by users due to the purchase and sale transactions carried out or not through the platform.
Venture Kingdom is not an investment advisor nor does its services involve any type of investment advice and/or application in digital currency, and you do so at your own risk. Venture Kingdom suggests that its users learn about the operation of digital currencies, their valuation, oscillation and ways of investing before using the website.
In order to buy or sell digital coins through the platform, the user must previously be successfully registered in the plataform and had accepted all provisions of these Terms and Conditions and other institutional Policies of the Company.
Upon completion and validation of the registration, the user must promote an initial purchase, according to the options offered by the platform, exclusively in digital currencies (BTC, Ether, among others), whose balances will be, after confirmation of the purchase, credited to his virtual wallet.
Limits of values, deadlines and fees will be informed on the platform at the moment.
The user who wishes to sell their digital coins to other users must publish a sales order on the website by filling out the specific form available on the platform.
The sales value of the digital currency is set by the user himself without any involvement of Venture Kingdom.
The user is aware that each sales order published by him on the website represents an effective offer to sell the digital coins referred to in the sales order, at the price indicated by the user himself. So the user hereby acknowledge that after the acceptance of his sales order by another user, the sale of the digital coins that are the object of the sales order will be automatically terminated by the website and may not be undone or modified. Once the sales order is accepted by any user, the digital coins will be automatically transferred to the buyer/acceptor user account. The user may cancel any sales order only prior to its acceptance by another user.
The user who wishes to buy digital coins from other users must publish a purchase order on the site by filling out the specific form available on the platform.
The value of the purchase of the digital currency is set by the user himself without any involvement of Venture Kingdom.
The user is aware that each purchase order published by him on the website represents an effective offer to purchase the digital coins referred to in the purchase order, at the price indicated by the user himself. So the user hereby acknowledge that after the acceptance of his purchase order by another user, the purchase of the digital coins that are the object of the purchase order will be automatically terminated by the website and may not be undone or modified. Once the purchase order is accepted by any user, the digital coins will be automatically transferred to the seller/acceptor user account. The user may cancel any purchase order only prior to its acceptance by another user.
The user will be able to store his digital coins in his virtual wallet, either to issue a sales order or to store them.
The user may at any time transfer his digital coins to another website, platform, manager or e-wallet of digital coins.
The user should be aware that any sales order or purchase order published by him may be partially accepted by another user.
Thus, if the user publishes a purchase order of 10 digital coins, another user may partially accept this order and agree to the sale of, for example, 5 digital coins at the price specified in the order.
In that case, the remainder of the purchase order may be canceled by the user who published it, or he may retain it, pending other users also agree to sell the remaining digital coins at the purchase order price, up to the amount remaining of the order.
If the user wishes to cancel a sales order published by him and not yet accepted by another user, the user issuing the canceled order may, through the website itself, withdraw his digital coins and transfer them to another storage location.
Venture Kingdom is not a party nor shall it be considered a party to any of the purchase and sale transactions performed by users through the website and shall not be liable under any circumstances for the effective fulfillment of the obligations assumed by users in these transactions.
The user acknowledge and agree that by entering into negotiations with other users, he do so at his own risk, acknowledging Venture Kingdom only as a provider of virtual space provisioning services for users to negotiate. In no circunstance will Venture Kingdom be liable for any loss, damage or loss of profits that he may suffer as a result of any negotiations carried out or not through the website.
Venture Kingdom recommends that every transaction should be conducted with caution, common sense and an adequate level of understanding by the User participating.
Registration on the website is free.
The User will pay the fees charged by the website only to perform the following operations:
(a) Digital currency deposit for the purchase of digital coins: When the user makes a digital currency deposit to purchase digital coins through the website, it will be charged a commission on the amount deposited. Thus, the balance that will be available for this user to purchase digital coins will be the amount of his deposit, already discounted the amount of the commission.
(b) Cash withdrawal in Fiduciary Currency: Both the User who sells his Digital Coins through the website, and the User who, having deposited amounts in Fiduciary Currency, does not use them fully for the purchase of Digital Coins, will pay the commission to the website for withdrawal of the amounts in Fiduciary Currency. Thus, at the time of withdrawal, the User will be transferred the balance in Fiduciary Currency, after deduction of the value of the Commission.
(c) Execution of Sales Order: The publication of an Order of Sale of Digital Coins on the website is free. However, if this Sales Order is accepted, totally or partially, by another User, a commission will be charged from the user that published the order. Therefore, the balance in Fiduciary Currency available for withdrawal by this User will be the sale value of his Digital Coins, discounting the amount of the commission provided in this item (c) and the value of the commission provided in item (b).
(d) Execution of Purchase Order: The publication of an Order of Purchase of Digital Coins on the website is free. However, if this Purchase Order is accepted, totally or partially, by another User, a commission will be charged from the user that published the order. Therefore, the balance in Fiduciary Currency available to the User that published a Purchase Order will be the amount deposited by the User, discounting the amount of the commission provided for in this item (d) and the value of the commission provided in item (a).
The value of all fees charged by the site will be clearly displayed at the time of registration by the user of a deposit notice, as well as at the time of publication of a purchase or sale order.
By accepting these Terms and Conditions of Use, the User agrees to pay to Venture Kingdom the amounts corresponding to the fees for the services provided, as indicated in these Terms and Conditions of Use.
Venture Kingdom reserves the right to modify, increase or eliminate current fees at any time, whether on a permanent basis or on a transitional basis during promotional periods. Any changes to our fees will be posted through the website.
Venture Kingdom reserves the right to take any relevant judicial and extrajudicial measures to receive the amounts due to it.
Users acknowledge and agree that Venture Kingdom is the sole and exclusive owner of all copyrights and intellectual property related to the website, including its domain name, programming, files, databases, content, design, features and other characteristics, and that such rights are protected by law. The Venture Kingdom brand name, the Venture Kingdom brand, and the products and services associated to this brand are the sole property of Royal Kingdom Enterprise Limited, and its unauthorized use is subject to applicable legal consequences.
These Terms and Conditions of Use do not imply the assignment or transfer to the user of any rights relating to the website, or any part of its content or features. Users may use the website only to the strictest terms permitted in these Terms and Conditions of Use.
Users are not permitted to modify or attempt to modify any functionality of the website, reproduce any derivations of the website or to access any part of the website for the creation of a competing product or service, or any product or service that contains ideas, characteristics or functions similar to those of the site. The use of any device, software or other resource that may interfere with the activities and operations of the website or that has the purpose of improper access to the information or databases of the website is also not allowed. Any activity that violates or is contrary to intellectual property laws, other applicable regulations or prohibitions stipulated in these Terms and Conditions of Use will subject the responsible to the relevant legal consequences, including indemnity for any damages caused.
The website may display links to other Internet websites, which does not mean that these websites are owned or operated by Venture Kingdom. Venture Kingdom has no control over the content of other websites whose access is eased by links embedded in our platform and, therefore, will not be responsible for the content, practices and services offered on these other websites.
All personal data entered by the user at the time of registration are stored on servers or high security magnetic media.
Venture Kingdom takes all possible measures to maintain the confidentiality and security of the information provided by its users. However, users declare to be aware of the possibility of security violation in the servers of the website by attacks of hackers or other circumstances to which systems connected to the Internet are subject, cases in which, in spite of the best efforts of Venture Kingdom, the information and User data may be illegally accessed by third parties.
Venture Kingdom may also disclose data and information to any user if this is determined by law or by order of a competent authority.
The use of the services provided by Venture Kingdom requires the sending of electronic messages (such as e-mails) for security and administrative purposes. Because they are part of the nature of the services provided, these notifications are part of the operation of the website and can not be sent to the canceled user. All other notifications sent by the website have an administrative area so that the user can request or cancel the future sending.
The website’s services are available for access exclusively through the Internet. In order to access our services, users must be provided with the necessary and appropriate equipment, such as a computer with a browser properly installed and licensed, a modem, as well as Internet access infrastructure and services.
The services of the website are subject to interruptions, delays and problems inherent the use of the Internet. Venture Kingdom shall not be liable for any such interruptions, delays or problems, or for any defects or limitations of the equipment or browser used by users or also for any defects or limitations of access provision services or Internet access infrastructure hired by the users.
Venture Kingdom will not be responsible for any virus that may attack user’s equipment as a result of access, use or navigation on the Internet or as a consequence of data transfer, files, images, texts or audio.
Venture Kingdom may change, at any time, these Terms and Conditions of Use, in order to improve itself and improve the services offered by the website.
Any changes to these Terms and Conditions of Use will take effect 10 (ten) days after their publication on the website.
If the user do not agree to the changes implemented in these Terms and Conditions of Use, he must immediately cancel his registration. The silence will be considered as tacit acceptance of the new Terms and Conditions of Use.
The user may terminate this instrument at any time, by requesting the closure of the registration of his ownership on the website.
The closure of the user’s registry and consequently of the virtual wallet of his ownership will only be possible if there is no registration of funds, in other words, if there are no amounts in digital currency at the moment of cancellation, otherwise the user is entitled to make the redemptions or sales.
Upon the suspension and/or cancellation of the user registry, either by the user or Venture Kingdom, the user acknowledge that he may no longer have access to and/or retrieve information about transactions through the platform, and the Venture Kingdom neither have any obligation with information storage, nor to pass this information to the user.
In case of suspected fraud or any other illegal activity, Venture Kingdoom may, in addition to resorting to legal measures, at the time of termination, retain any funds stored in the user’s virtual wallet pending the completion of the respective investigations.
Venture Kingdom reserves the right to suspend and / or terminate users’ registration immediately and indefinitely, at any time and without prior notice, in the event of evidence of, but not limited to:
a) providing false, inaccurate, incomplete or misleading information;
b) not providing additional information and/or documents, whether or not for the validation of the registry;
c) the user acts in bad faith;
d) breach of any of the terms of these Terms and Conditions of Use;
e) use of the services in disagreement with the law or any related regulation;
f) involvement in fraudulent or illegal conduct;
g) double-spending attempt, where the same digital currency is used in two transactions.
Even in the event of termination, all fees paid and charges made prior to closing are not refundable.
These Terms and Conditions of Use establish effective agreement, which may be terminated by Venture Kingdom once the has been evidenced account inactivity for more than 180 (one hundred and eighty) days.
Termination of these Terms and Conditions of Use shall not affect any rights and obligations which may accrue prior to the termination of this agreement and/or the provision of services. The obligations of any party contracted by these Terms and Conditions of Use shall survive termination and shall remain in full force and effect until terminated, including, but not limited to, those arising from digital currency transactions and emissions of purchase order and sales order.
Transfers of balances to non-titular third parties shall not be carried out under any circumstances.
In case of suspension and/or cancellation of registration by any of the parties, the user will have a period of 60 (sixty) days to indicate another website, platform, manager and/or e-wallet of digital coins for transfer.
The methods of interruption, suspension and deactivation of the services do not exempt users, at any time, from compliance with these Terms and Conditions of Use, including, but not limited to, the Liability and Termination clauses, which survive the termination of the relationship between the user and Venture Kingdom.
In the event of user’s failure to comply with any provision of these Terms and Conditions of Use, Venture Kingdom may declare it terminated regarding this user, regardless of any notice, notification or otherwise, and shall immediately terminate the access to the website, without prejudice to any other rights granted to Venture Kingdom, by law or by these Terms and Conditions of Use.
These Terms and Conditions of Use shall be governed by the laws of the United Arab Emirates, being elected that forum, with the exclusion of any other forum, however privileged it is or might be, to settle any disputes or controversies arising out of these Terms and Conditions of Use.
THE USER ACKNOWLEDGE THAT THE PECULIARITIES OF WEBSITE’S USE AND THE SERVICES AVAILABLE INTO IT ARE SUFFICIENTLY DESCRIBED HEREIN AND THAT VENTURE KINGDOM FULFILLED THE DUTY OF INFORMATION. AFTER READING ALL THE CONDITIONS THAT REGULATE THE USE OF THE WEBSITE AND OF ITS SERVICES, THE USER CONSENT WITH THESE TERMS AND CONDITIONS OF USE AND ACCEPTS ALL OF ITS PROVISIONS.
Questions can be send through Support email@example.com.