Terms Of Use
Acceptance
Please read these Terms and Service ("Terms", "Terms and Service") carefully before using the SilverCoin.com website (the "Service") operated by ("us", "we", or "our", "Silver Coin"). These Terms explain our obligations to you, and your obligations to us. By accessing and using the Service you (the customer "You", "your" and "Customer") will automatically be taken to have read, understood and accepted these Terms and Privacy Policy. If you do not agree to be bound by the Terms please cease all access to the SilverCoin.com website and its accompanying services.
Eligibility
By visiting or using Service you represent and warrant to SilverCoin and agree that:
1. You are of legal age (18 years old or older) and legal competence.
2. If Customer is a company, (i) Customer is duly organized and validly existing under the applicable
laws of the jurisdiction of its organization; (ii) execution and delivery of this Terms have been duly
authorized by Customer; and (iii) each person executing and delivering these Terms and other
transactions contemplated on behalf of Customer has been duly authorized by Customer to
do so.
3. It is legal to use Service in your country of residence. You represent and warrant that by using the
Service you do not violate any laws or regulations applicable to you.
General
SilverCoin token ("Token") is a digital asset created by SilverCoin. Token is based on the ERC20 token standard and is backed by physical silver of 99.9 percent purity. Each Token equals to 1 gram of physical silver. The physical silver is stored at a secure SilverCoin vault operated by SilverCoin or by third party selected by SilverCoin.
SilverCoin website enables you to obtain information on Token, purchase Token from us for decentralized cryptocurrencies and sell Token to us for decentralized cryptocurrencies. Customer can purchase/sell Token from/to SilverCoin at the rate stated at https://SilverCoin.com. The rates are subject to market fluctuations. Sales of over X Tokens at SilverCoin website may result in your transaction being delayed for 72 hours.
Token can be purchased or sold at third-party exchanges. Such exchanges are not under control of SilverCoin, hence terms and rates (which may differ from the ones stated at Silver .Storage website) of those exchanges will apply.
All physical silver stored in vault is fully insured, 100% of the time. No interest is paid on the silver stored in vault.
The total number of Tokens in circulation always equals the total amount of silver in vault.
Ownership
By purchasing SilverCoin you are purchasing a specific amount of physical silver which will remain deposited in SilverCoin vault. Hence you are the owner of that silver. The precious metals in storage for the users are at all times solely owned by the users and not by or any of its affiliates.
By selling SilverCoin to us you are selling a specific amount of physical silver making us the owner of the silver sold.
Fees
You authorize SilverCoin to assess fees based on usage of the following services:
Storage Fees: A Storage Fee will be charged for the secured holding and insurance of the Metals and an
administrative fee charged by SilverCoin or its affiliates for procuring these services on your
behalf.
Bank Wire Fees: A Bank Wire Fee will be charged for wiring funds from your User Account which fees are
described more particularly on the “Fees” page of the Website.
Other Fees: SilverCoin reserves the right to charge other fees for specific services which fees
and services are described more particularly on the “Fees” page of the Website. The schedule of fees on
the “Fees” page of the Website is incorporated herein by reference and made a part of
this SilverCoin Agreement.
Fees are subject to change effective immediately upon any change being posted to the “Fees” page of the Website. Bank Wire Fees are disclosed and require your consent at the time of processing such transactions via your User Account. Confirming the order or funds transfer through your User Account will constitute acceptance of these fees at the time of completing the transaction
Risk Disclosure
Cryptocurrencies, tokens and digital assets are extremely volatile and carry high degree of risk. Price movements for cryptocurrencies, tokens and digital assets, are influenced by, among other things: changing supply-demand relationships, sentiment and news releases that often cause large price fluctuations. By using the
Services you represent and warrant that:
1. You have knowledge and experience in cryptocurrencies, tokens and digital assets.
2. You fully understand the risks associated with cryptocurrencies, tokens and digital assets.
Further, you accept that you bear sole liability for all losses resulting from your use of cryptocurrencies, tokens (including the SilverCoin token) and digital assets.
No
SilverCoin does not provide any investment advice or render any opinion to the Customer as to whether the purchase of Token is prudent, timely or suitable. Nothing in the Silver.Storage website shall be construed a financial advise to you. You are solely responsible for determining whether your Token purchase, sale or transaction is appropriate based on your personal objectives, financial circumstances and risk tolerance. You must make your own investigations regarding the accuracy, reliability and completion of information provided and consult your professional adviser regarding your specific situation, including your financial situation, objectives and goals.
System Availability
SilverCoin will use reasonable efforts to ensure that the Service is available at all times, except for reasonable periods of time for maintenance.
Taxes
Customer is solely responsible for payment of any and all taxes owed as a result of using Service. Customer shall indemnify and hold SilverCoin harmless for any and all taxes, penalties, or interest claimed by any agency of government for payments made to Customer pursuant to this Terms
Use Restrictions
Your permission to use the Site is conditioned upon the following use, posting and conduct restrictions:
You agree that you will not under any circumstances:
1. Use the Service is applicable laws at the country of your location do not permit You to use the
Service;
2. Use the Service for any unlawful purpose or for the promotion of illegal activities;
3. Use the Servcie in a way that is detrimental to us, our customers or employees;
4. Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Service;
5. Use the Service to hide proceeds of illeagal activites, or otherwise lauder illegally obtained
curyptocurrency, tokens or
digital assets;
6. Distribute any part or parts of the Service without our explicit written permission (we grant the
operators of public search engines permission to use spiders to copy materials from the site for the
sole purpose of creating publicly-available searchable indices but retain the right to revoke this
permission at any time on a general or specific basis);
7. Harass, abuse or harm another person or group;
8. Interfere or attempt to interfere with the proper functioning of the Service;
9. Make any automated use of the Service or the related systems, or take any action that we deem to
impose or to potentially impose an unreasonable or disproportionately large load on our servers or
network infrastructure;
10. Bypass any robot exclusion headers or other measures we take to restrict access to the Service, or
use any software, technology, or device to scrape, spider, or crawl the Service or harvest or manipulate
data;
11. Use the Service as part of any effort to compete with us;
12. Circumvent, disable or otherwise interfere withzany security-related features of the Service or
features that prevent or restrict use or copying of content, or enforce limitations on use of the
Service or the content accessible via the Service.
Irreversible Transactions
Exercise extreme caution and double check all information your are entering when purchasing/selling Token at Silver.Storage website, any cryptocurrency exchange or when transferring Token to another account. By definition, cryptocurrency, token or digital asset transactions are final. Once the transaction has been carried out it cannot be reversed. You agree not to hold us liable for your monetary loss resulting from such error.
Intellectual Property
Unless otherwise indicated, Silver.Storage website is our proprietary property and all source code, databases, functionality, software, website designs, audio, video, text, photographs, and graphics on the Silver.Storage website (collectively, the "Content") and the trademarks, logos contained therein (the "Marks") are owned or controlled by us or licensed to us, and are protected by copyright and trademark laws and various other intellectual property rights. The Content and the Marks are provided on the Site "AS IS" for your information and personal use only. Except as expressly provided in these Terms of Service, no part of the Site and no Content or Marks may be copied, reproduced, aggregated, republished, uploaded, posted, publicly displayed, encoded, translated, transmitted, distributed, sold, licensed, or otherwise exploited for any commercial purpose whatsoever, without our express prior written permission. Provided that you are eligible to use the Silver.Storage website, you are granted a limited license to access and use the Silver.Storage website and to download or print a copy of any portion of the Content to which you have properly gained access solely for your personal, non-commercial use. We reserve all rights not expressly granted to you in and to the Silver.Storage website, the Content and the Marks.
Links To Other Sites
Links to non-SilverCoin websites are provided solely as pointers to websites that may be useful to SilverCoin Customers. SilverCoin has no control over the content on such websites. If You choose to visit to a website not controlled by SilverCoin, We make no warranties, either expressed or implied, concerning the content of such site, including the accuracy, completeness, reliability, or suitability thereof for any particular purpose, nor does SilverCoin warrant that that such site or content is devoid of viruses or other contamination. SilverCoin does not guarantee the authenticity of documents on the Internet. Links to non-SilverCoin sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information, or services offered at such sites, or any representation regarding the content at such sites. You agree and acknowledge that we do not endorse the services offered on third-party websites and you shall hold us harmless from any harm caused by such website. Additionally, you shall hold us harmless from any losses sustained by you or harm caused to you relating to or resulting in any way from any third-party website.
Termination
SilverCoin may terminate you access to this Website at any time in the event of breach of these Terms. This does not include SILVER token, as it cannot be blocked, terminated or otherwise restricted.
Disclaimer of Liability
SilverCoin makes no warranty that the functionality of Silver.Storage website will be uninterrupted. Furthermore, we do not guarantee that the information provided on Silver .Storage website is correct, complete or up-to-date.
SilverCoin will not be held liable for confirmation of any transaction on any blockchain network as we hold no control over any blockchain network.
SilverCoin will not be liable for any consequential, incidental, special, direct, or indirect damages (including but not limited to lost profits, losses or damages that result from use or loss of use of the SilverCoin services and third party content, inconvenience or delay). this is true even if SilverCoin has been advised of thepossibility of such damages or losses. SilverCoin will not be liable to you or anyone else (whether under contract, tort (including negligence) or otherwise) for any loss resulting from a cause over which SilverCoin does not have direct control. This includes, but not limited to, failure of electronic or mechanical equipment orcommunications lines (including telephone, cable and internet), script error, severe or extraordinary weather (including flood, earthquake, or other act of god), fire, war, insurrection, terrorist act, riot, labor dispute and other labor problems, accident, emergency or action of government. SilverCoin will not be liable for losses resulting from incorrect information entered when when purchasing, selling or transferring Token.
Indemnity
You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys fees and expenses, made by any third party due to or arising out of: (1) use of the Service; (2) breach of these Terms; (3) any breach of your representations and warranties set forth in these Terms; (4) your violation of the rights of a third party, including but not limited to intellectual property rights; or (5) any overt harmful act toward any other user of the Silver.Storage website. Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defence and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defence of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.
Changes and Modifications
We reserve the right, in our sole discretion, to make changes or modifications to these Terms of Service at any time and for any reason. We will alert you about any changes by updating the "Last updated" date of these Terms of Service, and you waive any right to receive specific notice of each such change. It is your responsibility to periodically review these Terms of Service to stay informed of updates. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Terms of Service by your continued use of the Silver.Storage website after the date such revised Terms of Service are posted.
Contact
If you have any questions relating to these Terms, please contact us using contact information available at SilverCoin.com website.