0. The Important Bits
This section contains the parts of the terms and conditions which result in the greatest misunderstandings. You must read the whole terms and conditions but we would like to draw your attention to the following points.
1. You must supply your real name. Accounts created using fake names etc will be closed without warning. (Terms 6.2)
2. You must be over 18 to use Solidi. (Terms 6.4)
3. You must make payments from an account in your name. (Terms 6.5.3)
4. You must not create more than ONE account without seeking prior permission from Solidi Support. (Terms 6.3)
5. You must trade only with your own money. (Terms 6.6 and Terms 6.7)
6. You understand that CryptoAssets are highly risky investments and are not subject to protection under the Financial Services Compensation Scheme or within scope of the Financial Ombudsman Service (Trading 9.2).
Violation of the above terms will result in your account being suspended pending satisfactory ID verification and AML/KYC checks. In some cases accounts will be closed and details passed to the relevant authorities under the UK MLR2019 (si2019-1511) regulations.
1. About these Terms & Conditions
1. Solidi (the “website”) is an online service/platform owned and operated by Solidi Ltd.
2. The Platform enables Users to buy and sell Bitcoins and other crypto currencies.
3. These terms apply to use of any part for the Solidi Platform.
4. These terms should be read in conjunction with the following additional Terms / Policies as both will apply.
1. Privacy Policy
2. Trading Terms and Conditions
3. AML Policy
5. By using the Platform you are confirming that you are:
1. able to understand these terms and conditions.
2. accept these terms and conditions.
3. agree to abide by these terms and conditions.
4. are over the age of 18 (or older depending on the Age of Majority in your country)
6. We may make alterations to these term and conditions from time to time. We may notify you of key changes to these terms and conditions.
2. Definitions
1. In these Terms and Conditions the following Definitions are taken as:
“account” – means an account of a User which is created when the user registers with the platform.
“asset” means any item traded on the website. This would normally be a crypto currency, but is not limited to this.
“AML” means Anti Money Laundering. It is the process of detecting assets (including money) generated from the proceeds of criminal activity.
“Counterparty” means the User who take the opposite side to You in an executed Trade.
“Customer”, “your”, “you” means a User of the Platform (either registered or unregistered)
"CryptoAssets", “Crypto Currency”, “Digital Currency” means units of monetary value which are unique and unforgeable including (but not limited to) currencies such Bitcoin, Litecoin, Dogecoin.
"MLR's" means the UK Money Laundering Regulations 2017 (as ammended) including updates 2019, 2020, 2022, 2023 and all subsequent updates.
“off-exchange”, means that a currency is not held on Solidi systems. If any one currency of a currency pair is 'off-exchange' then generally settlement will be delayed until the currency has been paid to the seller.
“on-exchange”, means that a currency is held on Solidi systems. If both currencies of a currency pair are 'on-exchange' then generally settlement will be instant and automatic.
“Order” means an electronic order made by a User who wishes to trade an asset.
“Platform”, “Online Service” means the website (“solidi.co” and all subdomains), API, trading platform, mobile applications owned and operated by Solidi Ltd.
“settlement” means the exchange of an asset or money between two users to settle a debt resulting from a trade.
“Solidi”, “Solidi FX”, “we”, “us”, “our” are references to the trading name “Solidi” of Solidi Ltd a limited company incorporated in England & Wales (reg no 09411526) with registered address at 27 Old Gloucester Street, London, WC1N 3AX.
“trade” means an agreement between two users to exchange a quantity of an asset at a fixed price.
"Travel Rule" means the FATF Rule 16 as transposed into UK law under the MLR's Part 7A. This requires Solidi to confirm the originator and beneficary details (names) when sending or receiving cryptoassets from VASP's which are in a jurisdiction which implements the Travel Rule.
“user” means an individual or corporate entity who uses the platform and is bound by these Terms and Conditions.
“user content” means content generated by users of the Platform including (but not limited to) orders, prices, comments, settlements and any other information generated by a User or their interaction with the site.
"VASP" means Virtual Asset Service Provider and is a virtual asset / crypto exchange.
3. About “Solidi Ltd”
1. Solidi is the trading name of Solidi Ltd a limited company incorporated in England & Wales (reg no 09411526) with registered address at 27 Old Gloucester Street, London, WC1N 3AX
2. Solidi Ltd is registered with the Information Commisioners Office with registration number ZA142009.
3. Solidi Ltd is registered under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 as a cryptoasset business, registration number 928852. Our full registration details can be found at https://register.fca.org.uk/s/firm?id=0014G00002WMo9MQAT.
3. Solidi Ltd operate the Platform which matches Users buy and sell Orders, generating Trades and Settlements.
4. Rights of Use
1. You have the right to use the Platform solely for the purpose of trading Crypto Currencies in accordance with our Trading Terms.
5. Intellectual Property
1. Unless otherwise stated, all copyright, design rights, trademarks, patent rights, database schema, database content, source code, compiled code and any other intellectual property belong to and vest in us or are licensed to us.
2. All third party trade names, trade marks, design rights are the property of their respective owners and no warranty or representation is made or implied in relation to them.
6. Restrictions and Obligations
1. You will not:
1. hack, crack, copy, modify, reverse engineer or create derivative works of this Platform or any part of it;
2. gain unauthorised access to any part of this Platform;
3. disclose your login credentials to any third party;
4. use identical login credentials as used on other platforms;
5. remove copyright, trademark or any other notices from this Platform;
6. create software which replicates the data or functionality in this Platform;
7. make any part of this website available to a third party;
8. use the Platform for any illegal or immoral purpose;
9. use the Platform in such a way as to adversely affect the Platform or the users of the platform including, but not limited to, spamming, marketing, excessive use and denial of service attacks.
10. attempt to do any of the above
2. You agree to supply your REAL NAME. You are not permitted to use aliases, fake names, aka's etc.
3. You agree to maintain only ONE account on Solidi unless otherwise agreed with Solidi Support in writing.
4. You are the older of:
1. 18 years of age or
2. Age of Majority your country of residence.
5. You will make payments in line with the following:
1. You will use the UK Faster Payments System.
2. You will use a UK bank account.
3. You will use a bank account in your name.
4. You will only use a single account to make payment unless you contact support with the details of any additional accounts.
6. You will not make payments on behalf of anyone else.
7. You will only trade with your own money. You agree there is no beneficial owner.
7. Liability and Disclaimer
1. We provide and maintain the Platform on an "as is" and "as available" basis without any warranty or condition, whether express, implied or statutory.
2. We assume no liability or responsibility for any errors or omissions, delays, or failures in the Platform.
3. We do not verify or review any third party content (“User Content”) made available through the Platform.
4. Views expressed in User Content are those of the user and not those of Solidi Ltd.
8. Termination
1. Without limiting any other rights we may have, we may immediately cancel or suspend access to the Platform at any time without prior notice.
2. We may cancel or suspend your access to the Platform should we in our opinions believe you have breached any of these terms and conditions.
3. We will endeavour to cancel all outstanding orders promptly, but we will hold no liability whatsoever for the final position.
4. Upon account termination we will transfer all held funds to a single address / account (per currency) of your choosing except where clause 5 applies.
5. Where account closure is due to transaction/payment/identification issues or suspected money laundering issues we may:
1. Restrict the return of funds to a single funding account and currency used previously to fund the Solidi account.
2. Liquidate positions in other currencies for return to the nominated funding account.
3. Where a funding account is no longer available (e.g. closed) then there will be a £15 charge to verify a new account.
6. Where subclause 5 applies we may, at our discretion, agree with you to a 4 hour time window to perform the liquidation and return the funds to enable you to re-purchase the funds with another party and minise price slippage.
7. Where subclause 5 or 6 is applied we will not be responsible for fees and/or price slippage incurred. In general we would aim, wherever possible, to avoid exercising subclause 5 but in certain situations due to legal, regulatory or customer protection issues, this will not be possible.
8. Where the remaining balance in each currency is less than the transfer out cost (i.e. network fees and/or withdraw fees) then you agree that the funds can be donated to Solidi's chosen charity.
9. Complaints
1. If you feel we have not met your expectations in any way, please let us know so that we can tackle the problem as quickly as possible. We have a three-step procedure to resolve your concerns.
1. Tell us about your complaint and how you feel it should be resolved by contacting us using any of the methods on the Contact Us page (http://www.solidi.co/contactus). We will endevour to resolve your complaint by the end of the third working day after you contact us. If we cannot do this then we will write or email you within five working days to tell you what we have done to resolve the problem or to acknowledge your complaint and let you know when to expect our full response.
2. Follow up with us and if needs be ask for the matter to be referred to a senior member of staff.
3. If you disagree with the decision we make then you may be able to refer your complaint to the Financial Ombudsman Service free of charge.
10. Governing Law and Dispute Resolution
1. These Terms & Conditions and the Solidi Platform are governed by the laws of England and Wales. All parties irrevocably agree that any dispute shall be settled under the exclusive jurisdiction of the English Courts and submitted to an English Court in Cambridge.
2. If any court or competent authority decides that any term of these Terms and Conditions is held to be invalid, unlawful or unenforceable to any extent, such term shall, to that extent only, be removed from the remaining terms, which shall continue to be valid to the fullest extent permitted by law.
3. Failure to enforce any part of these Terms and Conditions share not constitute a waiver of that or any other condition which may be enforce at any future juncture to it’s fullest extent.
v1.13 19 Oct 2024