1.0. ACCEPTANCE OF TERMS

We are delighted to have you as our customer. The following Terms and Conditions are applicable to anyone who makes the decision to have an account with Topit or any mobile applications, website or API that is owned by Topit.

By agreeing with these terms, you are getting into a legally binding agreement between you and CNGTRANSFER (PTY) LTD, a company incorporated in South Africa under the laws of South Africa. Any reference to “we” “us” “our” “Topit” and/or any similar term shall be construed as a reference to CNGTRANSFER (PTY) LTD, the company that owns the Topit brand.

By having a Topit account, you unreservedly accept these Terms. You agree to be bound by the terms and also to act according to the terms. You agree that it is your duty to understand and to comply with every regulation of the country in which live, that might be applicable to your use of the Topit Site and/or your Topit account. Based on your country of residence, you might not be able to use all the functions of the Topit Site.

2.0. AMENDMENT OF TERMS

We may, at our own discretion, alter, amend or revise any of these Terms at any time. It is the responsibility of the account holder to keep checking our terms of use to be updated on the terms.  

3.0. ELIGIBILITY

By creating an account with Topit, you expressly warrant and represent that:

  • You are in agreement with these terms of use and that you are legally bound by these terms of use;
  • You are 18 years of age or older;
  • If you are a legal company or if you are acting in the name of a legal entity, that you are authorized to act on behalf and in the name of the legal entity
  • You are not a national or a resident of the United States of America. 

By creating an account with Topit, you are in agreement that Topit has the right to terminate any account at any time for any reason. Upon termination of your account, Topit will refund you, less our fees, rebates, and/or damages, which we are entitled to as per these terms of use. Should your account no longer be subject to an investigation or court order, you authorize us to refund your funds (less any fee and/or damages) to the bank account that is linked to your account. Should there be any Digital Asset balance in your account after termination of your account, you agree to furnish us with an alternative Digital Asset address that we can use to refund the remaining digital assets. 

4.0. RISK DISCLOSURE

Prior to using Topit website, you should bear in mind that there are various risks, which are often involved when it comes to buying, selling or trading cryptocurrencies. Cryptocurrency markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets. There are various market volatilities and other risks, which are always involved when you buy, sell or trade cryptocurrencies. There may be additional risks, which are not specified here. It is your duty to carefully evaluate whether your financial situation, as well as your risk tolerance, is suitable to buy, sell or trade cryptocurrency. You are in agreement that you are solely responsible for buying, selling, or trading decision. 

5.0. ELECTRONIC COMMUNICATIONS

You are in agreement that: 

  • TopIt will communicate with you regarding the account you have with us electronically through posts on our website or by the email that you signed up with on our platform. You consent to get all Communications in electronic formats;
  • You will always be in possession of the necessary hardware and software to get electronic communications from TopIt. 

You confirm that the email address you have provided to TopIt is valid and can easily be accessed by you at all times. We assume that any kind of communication, which is sent to you via the email address you provide to TopIt will be considered to have been received by you. You can always amend your details at the settings section of your Topit account. 
You are at liberty to revoke your consent to getting any kind of communication from TopIt by sending an email to support@topit.io

6.0. IDENTITY VERIFICATION

We have in place various stringent KYC processes. We are committed to combating laundering of money, fraud, as well as terrorism finance. Despite the fact that the crypto space is largely unregulated, Topit voluntarily adheres to both local, as well as international compliance standards when it comes to customer due diligence. 

In order to attain these standards, we need our customers to furnish us with some personal details as well as documents while they are opening an account with Topit. The documents, which we require is dependent on the supported countries that you reside in as well as the amount of money that you wish to deposit, or withdraw from your account with Topit. In some cases, Topit might also conduct enhanced due diligence (“EDD”) proceses in regards to your Topit Account. You hereby agree and accept that you shall remain subject to procedures like that at all times.

At any point in time, Topit has the right to:

  • Suspend your Topit Account when in our sole discretion, consider it essential for us to conduct further Identity Verification and Enhanced Due Diligence; or
  • Terminate your Topit Account if we suspect that the information that you have given us is false or when you decline to give adequate information, which we require for Identity Verification and/or Enhanced Due Diligence.

You are in agreement that there might be various kinds of delays in accessing your Topit Account, or in conducting transactions via your Topit Account, while we carry out any Identity Verification and/or EDD processes.

Retention of information: Topit is obliged to retain some information, as well as documentation that we receive from you, as part of the Identity Verification and EDD processes. Such kinds of requirements are also applicable even if you have stopped your relationship with Topit. Topit has the rights to hold information like that for the required period. You are in agreement that Topit may retain that the information as well as the documentation you furnish it with even after closing your account with Topit. 

7.0. THE TOPIT WALLET

The Topit Wallet enables you to send, receive besides being able to store cryptocurrency that we offer on our platform. 

Supported Cryptocurrencies: The Topit Wallet will only support the cryptocurrencies, which Topit, in its sole discretion, decides to support. Information about that is available on Topit.africa website and also when you log into your Topit account. The Supported Cryptocurrencies might change from time to time. You agree that you will not execute a Topit Wallet Transaction in regards to a cryptocurrency other than a Supported Cryptocurrency. You accept and agree that you will have no access, entitlement or claim:

  • to any cryptocurrency that is sent to a receive address associated with your Topit Wallet where the given cryptocurrency is not a Supported Cryptocurrency; or
  • to any cryptocurrency, which is sent to a receive address linked to your Topit Wallet, where the given receive address is associated with another cryptocurrency. For instance, you will not have access, entitlement or claim to any Bitcoin (BTC) sent to Etherium (ETH) receive address.

Local Currency in your Topit Wallet: The Local Currency, which you deposit into your Topit Wallet is exclusively for (1) the purchase of Supported Cryptocurrencies and/or (2) Withdrawal to an approved bank account. 

The proceeds from the sale of Supported Cryptocurrencies shall be credited to your Local Currency Topit Wallet, less any applicable fees as stipulated in our website. 

Transaction instructions: Topit shall process Topit Wallet Transactions based on the instructions you provide. You are in agreement that Topit does not:

  • Guarantee the identity of any user, receiver, or other party to a Topit Wallet Transaction. You are exclusively responsible for making sure that all the details of the transactions are correct. You agree to carefully confirm every transaction information before you submit transaction any kind of instruction to Topit;
  • have any control over, or any liability with regards to the delivery, quality or any other component of any services, or goods, which you might buy from or sell to any third party. Topit shall not be held liable for, and shall take no action in relation to, ensuring that any buyer or seller you transact with using your Topit Wallet completes the relevant transaction or has the requisite authority to do so.

Receiving cryptocurrency: You may receive Supported Cryptocurrency into your Topit Wallet by giving the sender a receive address that is generated in your Topit Wallet. Your Topit Wallet shall only be credited with Supported Cryptocurrency sent to a receive address, which is generated through your Topit Wallet and associated with that Supported Cryptocurrency. For instance, your Topit Wallet shall be credited with ETH when it is sent to an ETH receive address generated through your Topit Wallet.

Funds received in error: In any event you know, suspect, or should reasonably know or suspect, that any Local Currency or cryptocurrency has been credited to your Topit Wallet (or to any bank account) in error, you must immediately notify Topit of the error by submitting a ticket through the Help Centre or by sending an email to support@topit.io. You are in agreement that you have no claim or entitlement to any Local Currency or cryptocurrency received in error, and must immediately return such funds in accordance with the instructions received from Topit.

8.0. DEPOSITS

Upon the verification of your identity based on Topit’s verification requirements, you may deposit Local Currency into your Topit Wallet by depositing funds into a Topit bank account (a “Deposit”). The Topit bank account that you use to make bank Deposits shall be a segregated account, which is solely used for the purpose of holding and processing customer funds. You retain a right to any funds that you deposit into the Topit bank account until you use the funds, or when you decide to withdraw the funds.

Topit will provide details of the Topit bank account into which you have to make the Deposit, and any such bank account shall be held and operated by a Topit operating entity in your country or region. You are in agreement that any kind of information you provide to Topit may be shared with such a local entity that will process Local Currency transactions in accordance with Topit’s instructions.

The method that you decide to use to make deposits will be dependent on the country you reside in. 

Because of operational as well as legal restraints, you have to firmly observe the following requirements prior to making any Deposit request:

  • you may only be able to make a Deposit from a Supported Deposit Method, which should be held in your own name. Deposits must not be made by any third party to your personal Topit Wallet;
  • you may only Deposit Local Currency through the use of the Supported Deposit Method, which matches the deposit methods, which are available in your country or region;
  • you should solely make Deposits denominated in the Local Currency, which is associated with your Topit Wallet. For instance, if your Topit Wallet is for ZAR, you should only make Deposits in South African Rand;
  • in case you make a Deposit through the use of a debit card or credit card, you authorise Topit to facilitate the debiting of the funds from your bank account for the Deposit process to be complete;
  • no deposit should be made in cash or cheques. Topit reserves the right to decline any kind of Deposit, which is done through cash or cheque. 

You are in agreement that you will adhere to the Deposit Requirements. You agree and accept that if you fail to do so might result in delays in or failure of the Deposits to reflect in your Topit Wallet, and/or restriction, suspension or termination of your Topit Account.

Allotment of deposits: When you make a request to make a Deposit to your Topit Wallet, you shall be given a Reference Code. In order for Topit to allocate the deposits to you in a timely manner, you have to use the given Reference Code. Topit shall not be liable for the delays, which may result from you not using the Reference Code provided to you. 

It might take time for deposits to reflect in your Topit Wallet because of operational processes, bank processing times, and/or failure by you to observe the stipulated requirements while making your deposit. Under no circumstances shall Toptit have any liability to you in regards to any kind of delay in or failure of any Deposit reflecting in your Topit Wallet.

While Topit shall make all reasonable efforts to ensure that all deposits, which are not meeting the Deposit Requirements are credited, any Deposit, which is smaller than the Minimum Unallocated Deposit Amount (the equivalent of 10 USD), which can’t be allocated within a duration of one month shall be retained by Topit and you are in agreement that you will have no further claim or entitlement to funds like such.

9.0. WITHDRAWALS

You may withdraw funds from your account after adding a working bank account to your Topit account. Topit will ensure that all withdrawals are processed based on the instructions that you give during the withdrawal process. You are responsible for making sure that any kind of Withdrawal instruction provided to Topit, which includes the bank account number or mobile phone number, are complete and correct. You are in agreement that under no circumstances will Toptit be under any obligation to amend or reverse any Withdrawal.

Topit will strive to make all reasonable efforts to ensure that all withdrawals are processed every business day based on the deposit and withdrawal schedule on Topit Website. However, you are in agreement that Topit offers no guarantee with regards to the Withdrawal processing period.

You agree to withdraw funds to bank accounts in your name. Withdrawals to the bank account of third parties are expressly prohibited. Withdrawal to a third party account may be refused and/or result in the suspension, restriction, or termination of your Topit Account.

10.0. FEES

Topit charges fees for the services that it offers to its clients. The fees that we charge are provided in our fees schedule. We reserve the right to alter them at any time. We will always ensure that our clients are notified of any change in our fees schedule via the email provided. We will not charge our customers any other fees other than the ones stipulated in our fees schedule. 

11.0. CLOSURE OF ACCOUNT

You are at liberty to close your account at any given point in time. You will be able to do this after settling all the pending transactions on our platform.

12.0. CLOSURE OR SUSPENSION OF ACCOUNT BY TOPIT

Topit may suspend or terminate your account by giving you notice. We may also prohibit your access to our platform. We may take legal or technical processes, when deemed necessary, to ensure that members are kept off the site when we suspect that they could be creating problems or probable legal liabilities, breaching the intellectual property rights of third parties, or acting contradictorily with our terms and conditions. 

Besides, we may, at our discretion, terminate or suspend the accounts of users for various reasons, which includes: violating these terms of use; attempting to gain unauthorised access to another person’s account; using our service to carry out various forms of illegal activities, like laundering of money, illegal gambling activities, terrorism finance, or other kinds of a criminal activity or based on the request of law enforcement offices or any other government agencies.

When your account has been terminated or suspended, you are expected to share details of a valid bank account to enable us to transfer any currencies that might be held in your account with us. The bank account you provide must be under your name. Any virtual asset will be converted into fiat, after which they will be transferred to the nominated account. 

13.0. PROHIBITED ACTIVITIES

You are in agreement that you will not use any of our services to carry out any kind of criminal activity of any kindly, which includes, but not limited to, laundering of money, unlawful gambling activities, financing of terrorism, malicious hacking or any other kind of criminal or illegal act.

14.0. TRANSACTION RECOVERY

You are entirely liable for any error, mistake, or just any kind of defect that might arise while carrying out any transaction on our website, which might result in complete or partial loss of your assets. We are not liable for any errors or mistakes while you are using our platform. TopIt shall in no case be held liable for any kind of loss, which includes, but not limited to, transactions, transfers, withdrawals, or deposits, which results from your improper activities or actions. TopIt will not compensate you for any loss that may arise out of these errors or mistakes.

15.0. PRIVACY

We value the privacy of all our users. Full details regarding our privacy policy may be found on our privacy policy page. We advise that you go through our privacy policy carefully for you to be aware of the kind of data and information, which we collect from our users, and how we manage such kinds of data. 

16.0. LIMITATION OF LIABILITY

Topit will not be liable for any profit loss, damages, revenue loss, loss of business, data loss, or opportunity loss unless the said loss is brought about by fraud, gross negligence, or willful deceit. Under no circumstance shall TopIt, its operating units or any affiliates (together with their employees, directors, agents, or members) be liable to you for any indirect, direct, special, consequent, or disciplinary damages or any other kind of damage, which includes but not limited to loss of revenue, loss of profit, loss of business, loss of data, loss of opportunity, whether in contract, or tort or otherwise, which arises out of or in any way linked to your usage of, failure to use, or inaccessibility of the TopIt Site and/or your TopIt Account. 

At no point will any liability of TopIt, its operating units or any other affiliates (including employees, directors, agents or members) which arises in the course of your use of TopIt Site or your TopIt Account, be more than the fees, which TopIt earned in regards to your usage of your TopIt Account in the eight-month period, which immediately precedes the event, which gives rise to the claim for liability.

17.0. INDEMNITY

To the full extent permitted by applicable law, you agree to indemnify Topit and its operating units, which includes employees, director, agents, members or partners against any liability, action, claim, cost, damage, loss, proceeding or expense suffered or incurred indirectly or directly, which arises from your usage of the Site or the Services or from your violation of these Terms of Use.

18.0. TAXES

It is your sole duty to establish whether, and to what degree, any taxes are applicable to the transactions, which you conduct through the TopIt platform, and to withhold, collect, report and remit the right amounts of taxes to the relevant tax authorities. You can view the history of the transactions through your TopIt Account.

19.0. FORCE MAJEURE

Should we not be able to carry out the different kinds of Services, which are spelt out in these Terms of Use because of factors, which are beyond our control, which includes but not limited to an event of change of law, Force Majeure, or change in sanctions policy, TopIt will not be held liable for the Services that are offered under this agreement during the time period the event occurs. 

20.0. DISPUTES, GOVERNING LAW AND JURISDICTION

These Terms shall be governed and construed in accordance with the law of South Africa. The parties agree to irrevocably submit to the exclusive jurisdiction of the courts of South Africa.

21.0. CONTACT US

Should you have any kind of question concerning these Terms of Use, your rights as well as obligations arising from these Terms and/or your use of the Site and the Services, your Account or any other matter, please contact support@topit.io