AltCoinTrader Trading Terms & Conditions


Welcome to AltCoinTrader (Pty) Ltd where we undertake to run our operation with honesty and integrity. We undertake to act in a reasonable manner and deliver to our clients the highest level of service!

By using the AltCoinTrader site you acknowledge to have read and understood the following terms and conditions in full and agree to comply with them and be bound by them in so far as they are legally enforceable.

1. Introduction

These terms and conditions govern the relationship between you ‘the client’ and AltCoinTrader (Pty) Ltd (AltCoinTrader) in regard to your use of the AltCoinTrader site.

  1. The terms and conditions contained herein are to be read as whole and where contradictions (perceived or otherwise) may appear, it is the clients responsibility to address or seek clarity on these directly with AltCoinTrader (Pty) Ltd.
  2. This agreement is a binding contract between AltCoinTrader (Pty) Ltd (Reg# 2015/418624/07), hereinafter referred to as ‘AltCoinTrader’ and you, hereinafter referred to as the ‘client’.
  3. This agreement is subject to the governing laws and regulations of the Republic of South Africa and AltCoinTrader and its Directors commit to abide by the governing laws and regulations and any request (deemed legal and reasonable) made by such governing and/or enforcement bodies.
  4. You acknowledge and agree that AltCoinTrader has the right to terminate your access to the site under certain circumstances, which may lead to losses incurred by you.
  5. If we determine, based on our sole discretion, that you have breached the agreement, or that of the service, or your use of the service is illegal under the laws of your jurisdiction, we reserve the right to suspend or terminate your account/s, or suspend or terminate your use of AltCoinTrader’s service/s.
  6. AltCoinTrader hereby reserves the right to amend these terms and conditions at any time without notice as may be reasonably required to protect our clients, third-parties, shareholders or employees.
  7. AltCoinTrader will not accept this agreement or have any obligations under it, until all conditions have been satisfied in our sole discretion.
  8. AltCoinTrader provides our site and services in current condition for your use, and AltCoinTrader reserves the right to partially or completely modify the contents of the site or services at any time, without notice to you.
  9. AltCoinTrader advises that clients have a reasonable knowledge or understanding of crypto assets before attempting to use the services offered by our website.
  10. AltCoinTrader reserves the right to temporarily shut down our site or the trading section of our site if deemed necessary by us in our sole discretion (E.g. Emergency maintenance). AltCoinTrader will not be liable for any loss incurred while our site was down.
  11. AltCoinTrader does not guarantee that the site, the service and the content within the service are accessible, non-interrupted, promptly provided and complete.

2. Purpose of this Agreement

Your application for an AltCoinTrader account is an offer to conclude an agreement with AltCoinTrader subject to these terms and conditions and our privacy policy (collectively, “the agreement”), and you hereby confirm the following prerequisites for an application for an AltCoinTrader OTC Account.

  1. You are not a citizen or resident of a sanctioned country.
  2. You are at least 18 years old.
  3. You have read, understood, and agreed to our Privacy Policy

3. Acceptance of Risk and Uncertainty

  1. As a client of AltCoinTrader you acknowledge that the purchase, sale, lending, borrowing, trading, sending, transferring, saving, custody and holding of crypto currencies carries certain risk of financial loss (in-part or in-full) and you hereby acknowledge that you understand these risks and accept them.
  2. In addition to this, you acknowledge that you have carefully considered and applied clear judgement to your financial situation and the aforementioned risks and AltCoinTrader, its Directors, shareholders and employees shall not be held responsible or liable for any losses hereunder.
  3. The regulatory status of crypto assets is the subject of significant uncertainty. It is possible that, in the future, the applicable law/s relating to crypto assets, crypto asset service providers or blockchain technology, may be changed or extended, which may affect or restrict any or all of AltCoinTrader’s services. You are responsible for determining whether, and in what respects, the use of our site and services is permitted. For the avoidance of doubt, you may not use the AltCoinTrader Platform for pursuing illegal activities. If you are uncertain, please seek independent legal advice.
  4. You acknowledge and accept that it is your responsibility to ensure deposits (ZAR or Crypto Asset deposits) are made correctly into the correct address per crypto asset (when depositing crypto assets) and using the correct bank details and reference (when depositing ZAR). You acknowledge that failure in this regard may result in lost funds.
  5. You acknowledge that, within the fullest extent provided by applicable law, you shall personally bear the risk related to using the site, the service, or efficacy thereof.

4.The Account

  1. Upon the terms and subject to the conditions set out in this agreement, AltCoinTrader agrees to open an account for the client.
  2. AltCoinTrader may collect information about you and your computer including but not limited to IP address, location information, operating system and browser type. We may also use cookies and sessions to further gather information about our clients. Your session activities are tracked. Most actions performed on our site and logged for security reasons.
  3. The client is responsible to pay all fees and charges, in full, as stipulated in this agreement or may be reasonably claimed under South African law.
  4. You remain liable for the full settlement of each deposit made on our trading platform by you (including deposits made by you by way of third-party payment platforms such as the Ozow (Pty) Ltd payment platform) until such time that the deposit concerned is settled and reflects in our nominated account.
  5. Take note that AltCoinTrader does not allow deposits made by an account not in the same name as the AltCoinTrader account. Should we discover such a deposit the account will be blocked.
  6. This agreement shall terminate upon the clients request to close their account with AltCoinTrader provided there are no outstanding fees or charges due.
  7. The client attests to being the sole, legal and equitable owner of the ZAR or crypto assets used to execute any trades on our site and no other agreement, financing statement, claim, or other security instrument that may encumber the ZAR or crypto assets exists.
  8. You agree that the holding of crypto assets or ZAR in AltCoinTrader’s account wallet/s constitutes the use of reasonable care with respect to the custody.

5. Non-investment Advice

  1. AltCoinTrader may provide the prices, volatility, relevant news or other information about crypto assets to you in the course of providing any of our services including when responding to queries via our customer support desk. However, this should not be construed as investment advice but merely as an act of sharing information. You agree to not interpret the aforementioned as investment advice.

6. Anti-Money Laundering (AML) & Fraud Policy

  1. Altcoin Trader (Pty) Ltd is fully committed and remains constantly vigilant to money laundering, financing of terrorism and fraud, and it will not allow its systems to be abused in furtherance of these crimes. AltCoinTrader has implemented an active Know Your Customer (KYC) policy and complies with the Financial Intelligence Centre Act (Act 38 of 2001) as amended by the Financial Intelligence Centre Amendment Act (Act 11 of 2008).
  2. The AltCoinTrader AML Policy & Risk Management & Compliance Programme is designed to prevent money laundering by implementing adequate systems and controls to mitigate the risk of the trading platform being used to facilitate financial crime.
  3. We are fully committed to providing the most secure, stable, and user-focused services in crypto assets to our customers. Altcoin Trader (Pty) Ltd shall cooperate with Law enforcement agencies and will take appropriate measures to prevent its site and services being used for criminal activities.
  4. AltCoinTrader may be required to restrict the amount of funds users may hold or transact with based on the user’s status.
  5. We have implemented measures to monitor suspicious transactions and maintain an active record keeping policy on our customer’s identification and transactions.
  6. Policies & Procedures include but are not limited to:

    1. The identification and reporting of knowledge or suspicions of money laundering.
    2. Identification of customers who trade above the minimum threshold allowed by the trading platform and scrutinise irregular or large trading patterns.
    3. Receive disclosures of suspicious activity from the AltCoinTrader staff and existing client base.
    4. Reporting and ensuring that suspicious activity or knowledge or suspicion of money laundering be reported to the responsible agency.
    5. The termination of client accounts where the client is listed on an approved sanctions list.
    6. Record keeping of customer’s identity and trading information and any supporting documentation where such records will be kept for the minimum prescribed periods in line with prevailing legislation.
    7. Internal management controls to make sure that AML policies and procedures are monitored and implemented.
    8. The ongoing monitoring and management of compliance and regular assessment of its policies and procedures.
    9. Mitigation controls to avoid risks of money laundering by monitoring customer appearing to be acting on behalf of another person, refusal to provide satisfactory ID or unfamiliar or atypical types of customer or transactions that fall outside of a customer’s known trading patterns.

7. Indemnification

  1. Neither party shall be liable to the other for any punitive, indirect or consequential damages, including but not limited to lost revenue, lost profits, replacement goods, loss of technology, loss of data, or interruption or loss of use of service or equipment, whether arising under the law of contract, delict, or otherwise.
  2. You indemnify and hold harmless AltCoinTrader, its directors, shareholders, representatives and employees from and against any claims, damages, losses, liabilities, costs, and expenses (including reasonable attorney’s fees), arising out of, or relating to, any third-party claim in violation of this agreement or the applicable law.
  3. AltCoinTrader are not to be held liable for any delay, error, interruption or failure to perform any obligation under this agreement, where the delay or failure is directly or indirectly resulting from any cause beyond our control, including but not limited to: (a) acts of God, nature, court or government; (b) failure or interruption in necessary infrastructure, including but not limited to public and private telecommunication networks, communication channels or information systems; (c) acts or omissions of acts of a party for whom we are not responsible; (d) delay, failure or interruption in, or unavailability of, third-party services; (e) strikes, lockouts, labour disputes, wars, terrorist acts and riots; (f) Changes in the price or general price trend of any crypto asset or exchange rate; (g) changes whether abrupt or gradual in the liquidity of the crypto assets related to your trading activity.
  4. Crypto assets are volatile by nature and subject to price swings, you acknowledge this and shall not hold AltCoinTrader, its directors, shareholders, representatives and employees liable for any unfulfilled order or losses derived therefrom while a trade is in progress or anytime thereafter.
  5. Our aggregate liability for any loss or damage arising in connection with any of our products and services shall not exceed the fees you paid to us for your use of the AltCoinTrader services during the 12-month period immediately preceding the event giving rise to the claim for liability.
  6. The client is personally responsible for ensuring compliance to all applicable South African laws while using the services and products of AltCoinTrader. If the client has any doubts as to their levels of compliance with South African laws, they are to seek independent legal advice.

8. Waiver

  1. AltCoinTrader shall not have waived any rights under this agreement unless such waiver is given in writing and signed by a duly authorised AltCoinTrader officer.
  2. No delay or omission on the part of AltCoinTrader in exercising any right shall operate as a waiver of such rights.

9. Entire Agreement; Integration

  1. No alteration, amendment or modification shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by the alteration, amendment or modification.

10. Severability

  1. If any part or parts of this agreement shall be held unenforceable for any reason, the remainder of this agreement shall continue in full force and effect.
  2. If any provision of this agreement is deemed invalid or unenforceable by any court of competent jurisdiction, and if limiting such provision would make the provision valid, then such provision shall be deemed to be construed as so limited.

11. Authorizations

The client authorizes AltCoinTrader, its agents and representatives engaged by AltCoinTrader, to:

  1. Investigate any references given or any other statements, information, document or data obtained from or about the client.
  2. Obtain client information for the purpose of conducting due diligence and in some cases enhanced due diligence as a prerequisite for an account with AltCoinTrader.