English translation is provided for convenience purposes only. The Term of Use in Mongolian is official version. In case of dispute, Mongolian version serves as main legal document.
Last revised: 22th January 2018
The Service is legally under the ownership and control of The Digital Exchange Mongolia., LLC (the Company). If you do NOT agree with the Terms, we kindly recommend you NOT to access the Platform and use the Service.
The Company reserves the right to change or modify the terms and conditions, or management in the Terms, depending on circumstances and its sole discretion at any time. The company will provide notice of changes by posting the revised Terms on website and updating ‘’Last revised’’ at the top of the Terms or by emailing at the Users registered email addresses or by any other means as determined by the Company. Any changes or modifications will be in effect immediately after the Company posts revision on website or inform the Users. If you do NOT agree with the revisions in the Terms, you must stop using the Service.
The Company provides online service (the ‘’Platform’’) that allows the Users to exchange blockchain coins and tokens (the Cryptocurrency) between themselves.
I. The User general requirements
The User must be 18 and above at the time of registration. The User has full responsibility for providing accurate and complete personal information to the Platform.
The Platform is accessible from anywhere in the word. If you access the Platform from foreign countries, we recommend the User to follow legislations of their countries. Before you register, please check carefully whether the authorities in your country legally allow the cryptocurrency exchanges. Depending on your location, accessibilities to the Service might be fully or partially restricted.
● The User will NOT do money laundering, gambling, defraud and blackmail others, ransoming the data, abuse the power, finance terrorism and violent activities, or any other illegal activities.
● The User will NOT provide or attempts to provide false information on the registration, harm the reputation of the Company, publish false information, do cyber attack to the Platform and manipulate the exchange rates. If any of those activities is discovered, the User account will be suspended, terminated, or restricted for some activities.
● The User will NOT give and sell the User account to others. If it is discovered, the User account will blocked.
II. Registration and the User account
You must register and create account to use the Service. While registering and creating account, it is required to do as follows:
1. Fill in the full name, national identification numbers and other information.
2. Maintain and promptly update your account information to keep it accurate, complete and current.
3. If you discover and suspect security breaches related to your account and the Platform, please notify the Company immediately.
4. The User is fully responsible for their account activities and accepts all risks involved of unauthorized access.
When you register and create the account, you must provide your valid email address. The income and withdraw requests and information about the Service will be sent to your registered email address. The User should understand and agree that if the Company sends email and provides information, but the User is not able receive email and information because your email address is incorrect or out of date or because our email is blocked by your service provider or intercepted by spam filters, the Company will be considered to have provided the information.
To maintain the security and confidentiality of your login credentials, we recommend you to pay attention the following things.
1. To restrict your account and your computer, tablet, or mobile devices.
2. When you are accessing from many different devices, do NOT save your account name and password.
3. When you access the Platform, use two-factor-authentications (2FA) or one time passcode generation.
In case you lost your password and 2FA, you may request to close and reopen your account.
The Company reserve the right to open the account with shared interest and restrict creating several accounts of the same User.
III. Deposit, withdraw, and exchange
The User can freely deposit, exchange and transit the cryptocurrencies through their account on the Platform.
The User need to pay for withdraw fee, even though they do not exchange their fiat to cryptocurrency.
When the User deposit and withdraw, transaction time takes longer than normal, depending on the bank and blockchain fee and speed. Moreover, due to incorrect information or insufficient transfer fee, cryptocurrencies or fiat may be returned to your account.
The Company is NOT responsible for transaction made with incorrect wallet address.
The Company will NOT delete deposit, transaction and withdraw history on the Platform to protect the interest of the Users regardless of your request.
The Company will NOT able to refund or cancel the exchange rate or amount of cryptocurrency mistakenly ordered by the User.
The Company will return the change from difference in exchange rate to the User who has ordered to sell.
The Company will NOT offer the reward and fork in order to prevent the account name and password, fiat and cryptocurrency in the User account from leakage and lose.
IV. Risk information
The Company provides only the Service. The Company is NOT obliged to consult exchange rate, tax and legislations.
Risk involved with cryptocurrency
Every Cryptocurrency has its own features and large volatilities. There are other factors that affect the valuation of cryptocurrencies such as regulations, market manipulation and unexpected factors. The Company is NOT responsible for these factors and does NOT have any control over volatility of cryptocurrencies. Furthermore, the blockchain technology may will have programming problem, protocol change and unexpected troubles. Consequently, the network might be disconnected and closed. Therefore, the Company is NOT responsible for any of these outside factors.
The Company recommends risk-averse the Users not to do active trading. In other words, it is very difficult to expect the value of cryptocurrency, so please do NOT take risk which you are unable to take.
Information and Technology
The Cryptocurrencies are explained in terms of information and technology. In order to estimate inherited risk of cryptocurrency, the User should have some knowledge about the cryptocurrencies and computer science. The Company will NOT guarantee anything about the cryptocurrency registered on the Platform. The User should research the cryptocurrency and make decisions to trade or invest.
The Platform disconnection and close
The Platform can be disconnected due to third party factors and force majeure such as hacker and cyber attacks, technology adjustments of communications, technical malfunction and securities of banks. If so, in order to prevent from the Users from any loss and to protect the Users, the Platform can be return to the same condition of 48 hours.
The User has risk of losing account name and password if the User does not logout or save the account name and password.
The Users are responsible for reporting and paying tax on profit or income made on The Platform. The Company has NO responsibilities for reporting any of these.
The Company can restrict or block the User account, as required to do so by law enforcement.
VI. Termination of the Terms
1. The Company can close or restrict the User account upon the request that the User wants to terminate the Service and close the account. The User can send the request to close the account through support. When the User sends close the account and the Service, the order can be cancelled. However, the completed ordered can NOT cancelled.
The transmission of information may not secure and can be reached on internet network such as Facebook and email. Therefore, the Company is NOT responsible for breaching your information if you sent it via internet network. The Company is NOT also responsible for loss, cost or damage incurred by this transmission of information over the internet.
The Secrecy Policy is a necessary part of the Service.
VIII. Question and contact information
If you have any question, please contact through support section.