Galileo Exchange User Agreement

References in this Agreement to "Galileo Exchange", "we", "our" or "us", are to Galileo Exchange depending on the context, and references to "you" or "your" are to the person with whom Galileo Exchange enters into this Agreement.

By signing up to use an account through Galileo Exchange, or any of our associated websites, APIs, or mobile applications (collectively the "Galileo Exchange") you expressly agree to our terms of service as outlined in this User Agreement.

By entering this Agreement, you further acknowledge and agree that you have read, understood, and completely accept all of the terms and conditions in our Privacy Policy, as changed at our discretion from time to time.

You acknowledge that you understand Galileo Exchange may amend, modify, add to or delete Terms of Use in this User Agreement and our Privacy Policy at our discretion. Those amendments, modifications, additions or deletions apply to your use of the Services as soon as they are displayed on the website (whether or not you are aware of those amendments, modifications, additions or deletions). All subsequent transactions by you will be subject to the amended and most current Terms of Use.

Risks of Trading and Holding Digital Currencies

Galileo Exchange kindly reminds you that the risk of loss in trading or holding coins, tokens, crypto, digital currency, or digital assets of the like (collectively "Digital Currency") can be substantial and you acknowledge that you are aware of the risks. Due to the risk of substantial losses you should carefully consider whether trading or holding Coins is suitable for you, subject to your financial circumstances and susceptibility to risk.

1. Services

1.1. Eligibility.

To be eligible to use the Galileo Exchange Services, you must be at least 18 years old.

Your eligibility to access certain Galileo Exchange Services may be subject to the country you reside in. It is your sole responsibility to determine if you are allowed to access our services from your residing jurisdiction.

1.2. Digital Currency Services.

The following services (the "Digital Currency Services") are provided to you by Galileo Exchange:

1.3. Deposits

1.3.5. Bonuses

1.4. Responsible Trading

1.5. Hybrid Indices

1.6. Pairings

The Galileo exchange offers Hybrid Indices paired with GELT or BTC.

1.7. Buy and Sell Orders

You acknowledge and agree:

1.8. Early Exit

1.9. Regulation

Galileo Exchange Services are regulated by the Exclusive Jurisdiction of Victoria, Australia.

1.10. Fees

A full list of Galileo Exchange's fees can be found on the Pricing and Fees Disclosures page on our website.

1.11. Transaction Fulfilment 

We will make best efforts to fulfil all orders of Digital Currency, but in some circumstance, we may be unable to. If this is the case, we will notify you and seek your approval to re-attempt the purchase at the current Exchange Rate.

1.12. Availability of Payment Methods 

The availability of a method of payment depends on a number of factors including, where you are located, the identification information you have provided to us, and limitations imposed by third party payment processors.

1.13. Exchange Fees 

Each exchange of Digital Currency is subject to a fee (an "Exchange Fee"). The applicable Exchange Fee will be displayed to you on the Galileo Exchange Site prior to each transaction and is stated in each receipt we issue to you. We may adjust our Exchange Fees at any time. We will not process a transaction if the Exchange Fee and any other associated fees would, together, exceed the value of your transaction.

1.14. Exchange Rates 

Exchange between Deposited Currency and Hybrid Indices may also be subject to the Galileo Exchange "Exchange Rate" for the given transaction. The "Exchange Rate" means the rate of exchange between the USD value of the deposited currency and the USD value of the Hybrid Indice.

The Exchange Rate is stated either as the “last price”, which is the price at which you may buy or sell Digital Currency, respectively. You acknowledge that the Buy Price Exchange Rate may not be the same as the Sell Price Exchange Rate at any given time, and that we may add a margin or "spread" to the quoted Exchange Rate. You agree to accept the Exchange Rate when you authorise a trade.

We do not guarantee the availability of any Exchange Rate. We do not guarantee that you will be able to buy and / or sell your Digital Currency on the exchange at any particular price or time.

1.15. Authorisations; Reversals; Cancellations

By clicking the "Buy" or "Sell" button on the Galileo Exchange Site, you are authorising Galileo Exchange to initiate the transaction at the quoted Buy Price or Sell Price and agree to any associated Exchange and Exchange Fees.

You cannot cancel, reverse, or change any trade once it has been placed, however you may exit the trade early.

If your payment is not successful or if your payment method has insufficient funds, you authorise us, in our sole discretion, either to cancel the transaction or to debit your other payment methods, including balances on your Fiat Wallet and/or Digital Currency Wallets, 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, insufficient funds, or similar fees charged by your payment provider.

2. User Obligations

2.1. You warrant to us that you are a bona fide user of Galileo Exchange’s Services for the purposes of trading Digital Currency.

2.2. By opening a Galileo Exchange Account, you confirm that you will not use Galileo Exchange Services in connection with any of following businesses, activities, practices, or items, or any criminal activities whatsoever, including but not limited to:

In the event Galileo Exchange finds you to be participating in any of the activities detailed in section 2.2, we may, at our sole discretion withhold any funds available in your account from you indefinitely.

3. Access to Services

3.1. Registration of Galileo Exchange Account.

In order to use the Galileo Exchange Services, you will need to register for a Galileo Exchange account (a "Galileo Exchange Account") by providing your full name, an e-mail address, password, and accepting the terms of this Agreement and our Privacy Policy. We may, in our sole discretion, refuse to open a Galileo Exchange Account for you, or limit the number of Galileo Exchange Accounts that you may hold.

3.2. Identity Verification.

By creating an Galileo Exchange account, you authorise Galileo Exchange to make enquiries that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries.

3.3. Access.

To access the Galileo Exchange Services, you must have the necessary equipment or devices (such as a smartphone or tablet) and the associated telecommunication service subscriptions to access the Internet. The Galileo Exchange Services can be accessed directly using the Galileo.Exchange Site.

4. Use of Galileo Exchange Services

4.1. In General

Your Digital Currency Wallet enables you to send Digital Currency to, and request, receive, and store Digital Currency from, third parties by giving instructions through the Galileo Exchange Site (each such transaction is a "Digital Currency Transaction").

4.2. Digital Currency Transactions

We will process Digital Currency Transactions in accordance with the instructions we receive from you. You should verify all transaction information prior to submitting instructions to us. We do not guarantee the identity of any user, receiver, requestee or other party. Digital Currency Transactions cannot be reversed once they have been broadcast to the relevant Digital Currency network.

Once submitted to a Digital Currency network, a Digital Currency Transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the Digital Currency network. A Digital Currency Transaction is not complete while it is in a pending state. Digital Currency associated with Digital Currency Transactions that are in a pending state will be designated accordingly and will not be included in your Digital Currency Wallet balance or be available to conduct Digital Currency Transactions.

We may charge network fees (miner fees) to process a Digital Currency Transaction on your behalf. We will calculate the network fee in its discretion, although we will always notify you of the network fee at or before the time you authorise the Digital Currency Transaction.

We may refuse to process or cancel any pending Digital Currency Transaction as required by law or any court or other authority to which Galileo Exchange is subject in any jurisdiction.

4.3. Supported Digital Currencies

Our Digital Currency Services are available only in connection with those digital currencies that Galileo Exchange supports, and this may change from time to time. Under no circumstances should you attempt to use your Galileo Exchange Wallet to store, send, request, or receive digital currencies in any form that we do not support (although we will use reasonable efforts to help you move or sell Digital Currency that we no longer support). We assume no responsibility or liability in connection with any attempt to use your Galileo Exchange Wallet for digital currencies that we do not support.

4.4. Third Party Payments

We have no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell to or from a third party (including other users of Galileo Exchange Digital Currency Services).

We are not responsible for ensuring that a third-party buyer or a seller you transact with will complete the transaction or is authorised to do so. If you experience a problem with any goods or services purchased from, or sold to, a third party using Digital Currency transferred using the Galileo Exchange Digital Currency Services, or if you have a dispute with such third party, you should resolve the dispute directly with that third party.

If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify Galileo Exchange Support at support@Galileo.exchange so that we may consider what action to take, if any.

5. Security

5.1. The transmission of information over the Internet is not completely secure. In particular, emails to or from us and information submitted to or accessed via this Platform may not be secure and you should use discretion in deciding what information you send to us via these means

5.2. You acknowledge that you use the Platform and Services (and obtain and transmit data to it) entirely at your own risk, that it is provided on an ‘as is’ basis and that we do not make any representations or warranties as to the security, availability of our Platform and Services or that your access or use will be uninterrupted, timely or secure.

5.3. We cannot guarantee the identity of any other user, receiver or other party you engage with.

5.4. You are accountable for maintaining and preserving the confidentiality of your account information, your personal information you provide to Galileo Exchange, the strength level of your password, whether you implement a two-factor authentication (unless otherwise stipulated in these Terms of Use), protecting your Coins by using a digital wallet and any other activities you undertake when using our Platform and Services. Galileo Exchange recommends you implement and use two-factor authentication at all times when transacting on the Platform and a digital wallet to protect your crypto and Coins as well as personal information when holding your Coins outside the Platform. Do not hold large numbers of Coins within the Platform as this is a security risk and may increase your exposure to hacking and misappropriation of your Coins.

5.5. You must notify Galileo Exchange immediately of any unauthorised access or use of your account, password or any other applicable breach of our Platform and Services by submitting a support request on our website.

6. Indemnity

6.1. Release of Galileo Exchange

If you have a dispute with one or more users of the Galileo Exchange Services, you agree that neither we nor our affiliates or service providers, nor any of our respective officers, directors, agents, joint venturers, employees and representatives will be liable for any claims, demands and damages (actual and consequential) of any kind or nature arising out of or in any way connected with such disputes.

6.2. Indemnification 

You agree to indemnify us, our affiliates and service providers, and each of our or their respective officers, directors, agents, employees and representatives, in respect of any costs (including attorneys' fees and any fines, fees or penalties imposed by any regulatory authority) that have been reasonably incurred in connection with any claims, demands or damages arising out of or related to your breach and / or our enforcement of this Agreement (including without limitation your breach of our Behaviour Policy or our Policy on Prohibited Use, Prohibited Businesses and Conditional Use) or your violation of any law, rule or regulation, or the rights of any third party.

6.3. Limitations of Liability 

We shall only be liable to you for loss or damage caused directly and reasonably foreseeable by our breach of this Agreement and our liability in these circumstances is limited as set out in the remainder of this section.

6.4. Warranties

We do not provide any warranty in relation to your use of Galileo Exchange’s Platform and Services and we do not provide any warranty that the information displayed on our Platform and in relation to the Services is up-to-date, accurate or complete. Galileo Exchange’s Platform and Services does not provide information to evaluate whether or not you should invest, use and trade in Coins. We give no warranties, guarantees or accept any liability (except that which cannot be excluded by law) in relation to the statements, representations and information of others (including without limitation data, reports and analyses) displayed on our Platform and in relation to the Services.

7. Termination

Galileo Exchange may suspend, limit, restrict, deactivate or terminate your access to Galileo Exchange’s Services, including your Galileo Exchange account, if:

You may cancel your Galileo Exchange account at any time, following the settlement of any pending transactions or trades. You will not be charged any fees for cancelling your Galileo Exchange account; however, you must pay any outstanding amounts owed to us.

8. General

8.1. Galileo Exchange will communicate with customers by email and telephone and will never provide links to other websites or request sensitive information such as 2-factor codes and passwords. If you are not sure if the email or telephone call you received is secure and from a trusted source, please email us at Galileo Exchange Support and we will be able to assist you.

8.2. By using Galileo Exchange’s Platform and Services, you accept that it is your responsibility to determine whether and to what extent, any taxes apply to any transactions or trades you conduct through our Services. It is also your responsibility to seek professional tax advice with respect to personal, business and self-managed superfund Galileo Exchange accounts as well as to ensure that you are compliant and that the platform and features satisfy your requirements. Galileo Exchange does not provide any advice or take any responsibility for information that you receive through our Platform and Services.

8.3. The Terms of Use published on the date you view them on the Platform supersede all prior versions.

8.4. If any provision of the Terms of Use is held to be invalid, unenforceable or illegal for any reason, the remaining parts of the Terms of Use will be in full force and effect.

8.5. If we are unable to perform our Services as stipulated in the Terms of Use due to circumstances out of our control, including but not limited to, change of law, regulations or policy, or an event of Force Majeure, we will not be held liable.

9. Governing Law and Jurisdiction

This Agreement will be governed by Australia and the exclusive jurisdiction of the Victorian Courts.