- access to yorapid system;
- rules of system use by clients;
- terms and procedures of order placement;
- types of transactions within yorapid system and their procedures;
- types of fees, commissions, security deposits charged from yorapid clients.
1. General Terms and Definitions
1.1. yorapid system ("System") is an automatic software, functioning in accordance with the present terms and rules.
1.2. yorapid User (“User”) is a person of age, who registered in the System, agreed to the System’s terms and conditions and confirmed their phone number by sending the checkup code (acquired via text message during the registration).
1.3. Trading order (“Order”) is a bid placed in the System by the User, which indicates their will to perform the trading transaction under the conditions, with the currencies, amounts and at the rates specified in the Order.
1.4. System provides all its Users with equal rights and opportunities to use System’s functionality regardless their way of access to the user’s interface.
1.5. System doesn’t guarantee the equal quality of connection provided by different Internet service providers and is not liable for any damages inferred by poor or inconsistent connection.
2. User’s Authentication
2.1. The authentication is provided by using login and password entered in the System during the registration.
2.2. Every time during the authentication User gets a text message with a checkup code on their cell phone, used during the registration. To successfully complete the authentication, the User is to enter the checkup code into the authentication form and send the form back to the System.
3. User’s Account Termination
3.1. In case the User violates System’s terms and conditions or uses their rights to harm or put at risk uninterrupted work of System, the User’s account will be automatically and irrevocably terminated.
4. Account Recovery
4.1. Account recovery can be performed only if the User sets up recovery settings in their User Account and has an access to the cell phone or email provided in the recovery settings.
5. Security Deposits
5.1. Security deposits are calculated in System electronic money Bitcoin, Litecoin.
5.2. To secure the financial commitment fulfillment of the placed orders, the Users transfer Bitcoin, USD, Litecoin to the System’s accounts or System’ s crypto wallets in the amount equal to the full volume of the placed Order, trading commission including.
5.3. The user can create an unfunded Order, but this Order will come into action only after the certain amount of Bitcoins, Litecoins (enough to cover the full volume of Order commission including) is transferred to the System.
6. Commission Types and Commission Payment Procedures
6.1. Commissions are calculated in BTC, LTC, as well as GHS.
6.2. The Types of commissions are:
a) transaction fees;
b) mining pool maintenance fees;
c) trading commissions.
6.3. System withdraws the commission from the User’s wallet.
6.4. Commission amount is indicated in the User’s interface of the System prior to the User’s Order initialisation. The fact that the User initialized the Oкder means that they are notified on the amount of the commission due and agree that it will be withdrawn from their account.
6.5. Trading commission is indicated in the User’s interface in the Create Order, Order Details section. The fact that the User created the Order means they are aware of the trading commission amount and agree that it will be withdrawn from their account.
6.6. Trading commission is сollected by System at the moment of the Order completion, at full or partial closure. If Order is partially closed, trading commission is collected from the closed part only.
6.7. Mining pool maintenance fee is collected automatically only from the Users who have no less than one valid (not empty) wallet in GHS.
6.8. Mining pool maintenance fee is withdrawn from the User’s BTC wallet on the daily basis at the moment of mining earning accruals.
6.9. User can choose the wallet from which the mining pool maintenance fee will be paid. If the wallet is not chosen, or the wallet is depleted of funds, the commission will be taken from any other valid BTC wallet of the User.
6.10. In case there are no funds on any BTC wallets of the User, the mining pool maintenance fee is collected from any other their wallet (LTC or GHS) in the amount equivalent to the BTC commission at the current market exchange rate.
6.11. User can calculate the amount of mining pool maintenance fee with the help of System’s mining calculator.
7. Exchange Types
7.1. System provides the possibility to exchange crypto-currencies: BTC, LTC, as well as mining capacities (GHS).
8. Trading Operations and Orders Completion
8.1. System registers User’s trading Order and provides automatic completion in the line with the terms set by the User.
8.2. Trading operations are performed based on Orders placed by different Users.
8.3. User can cancel their Orders, placed in System, as well as change the Order’s parametres, if the latest complies with the conditions of the Order.
8.4. Order closure is performed if in the System there are funded counter-orders of the matching volume.
8.5. Placed Orders are pending until they are either closed or canceled by the User.
8.6. When placing the Order, User on their own decides on the conditions of the Order completion.
8.7. In case of incorrect Order completion, the User should report to Support.
9. System Interaction with Third Party
9.1. Users, trading in System using the funds of third parties, are solely liable to third parties for the funds used. The System is in no way liable in terms of funds traded and can not be summoned as a party in any disputes that might arise in connection with such kind of financial activities.
9.2. System does not provide any information on Orders placed by the User to any third party and is not liable for the incomplete or invalid info communicated by the User to a third party.
9.3. System does not satisfy any third party’s demands to limit User’s access to trading or any other limitation of the User’s activity within the System - third party claims in the result of financial disagreement including. The only exception is Payment Systems claims.
10.1. User Account can be terminated at System’s sole discretion with payment of all their funds left on the account unless the funds were obtained by theft or fraudulent actions towards any other User.
10.2. Any User’s deposit may be put on hold for a checkup for the period of 24 hours to 3 working days at most.