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Terms of Service

This agreement (the “Agreement”) is entered into between the online electronic currency exchange service https://velorex.cc/ (the “Provider”, “Velorex”, the “Service”) and any person who uses the Provider’s services (the “Customer”).

Definitions

• Exchange — the automated online electronic currency exchange service provided by the Provider under this Agreement.
• Customer — an individual who has accepted and acceded to the terms of this Agreement.
• Electronic currency — a unit of account of a payment systеm or blockchain network representing rights in accordance with that systеm’s rules.
• Digital asset — an electronic currency whose transactions are processed by a blockchain network.
• Order — a Customer’s offer to buy or sell electronic currency submitted on the website. By creating an Order, the Customer accepts the terms stated in it.

1. Conclusion of the Agreement

1.1. The Agreement is concluded by accepting a public offer. The offer consists of the exchange terms the Provider displays to the Customer while creating an Order. By completing the Order, the Customer confirms their intention to exchange on these terms.

1.2. The date, time and parameters of the Order are recorded automatically when it is created. The offer is valid for 24 hours from the moment the Order is created.

1.3. The Agreement takes effect once the full amount specified in the Order is received at the Provider’s payment details. Transactions are accounted for according to the rules of the relevant payment systems and blockchain networks.

1.4. The Agreement remains in force from the creation of the Order until it is fulfilled or terminated at the initiative of either party.

1.5. A completed exchange, meaning an operation in which the Customer has received funds on the agreed terms, cannot be reversed.

1.6. Amendments to the Agreement take effect upon publication on the website and do not apply to Orders created before that date.

2. Subject of the Agreement

2.1. The Provider undertakes, for a fee, to carry out the exchange under the Customer’s Order and transfer the electronic currency to the payment details specified by the Customer in an amount no less than stated in the Order.

2.2. Any exchange rate difference arising in the course of the exchange remains with the Provider as remuneration for the services rendered.

3. Exchange Rules

3.1. General rules

3.1.1. The Provider guarantees the correctness of the service for 24 hours after the exchange is completed, unless a different period is agreed separately.

3.1.2. If the amount received differs from the amount in the Order, the Provider recalculates the exchange based on the amount actually received.

3.1.3. If, through the Provider’s fault, funds are not sent to the Customer within 24 hours, the Customer may terminate the Agreement and request a full refund. A refund is possible only if the funds have not yet been sent to the Customer’s payment details.

3.1.4. Upon termination, the refund is made within 24 hours of receiving the request. The Provider is not liable for delays not caused by the Provider.

3.1.5. If the Customer made a mistake in the transfer or decides to cancel the Order after sending funds, the refund is made minus the network or payment systеm fee (for some assets, it depends on the current cost of inclusion in the next block) and a manual processing fee of 3% of the amount received.

3.1.6. To request a refund, the Customer must send an email to info@velorex.cc from the email address specified in the Order, stating the Order number and the refund details.

3.1.7. Orders paid with an amount below the minimum exchange amount are neither executed nor refunded.

3.1.8. If funds are not received within the payment window, the Agreement is deemed not to have taken effect and is terminated by the Provider unilaterally without notice to the Customer. If funds arrive later, the Provider may, upon the Customer’s request to support, either refund them minus fees or execute the exchange at the current rate.

3.1.9. The Provider is not liable for losses caused by crediting delays on the side of a payment systеm or network. The Customer shall address such claims to the relevant systеm; the Provider will assist to the extent possible.

3.1.10. If data tampering or any attempt to interfere with the Service or its code is detected, the Order is suspended and the exchange amount is recalculated under this Agreement. If the Customer disagrees with the recalculation, they may terminate the Agreement and receive the funds minus all fees.

3.1.11. The Provider’s liability is limited to the terms of this Agreement and the amount of funds received under the Order. The Provider gives no additional warranties; likewise, the Customer bears no additional liability to the Provider.

3.1.12. The Customer undertakes to comply with the law, not to tamper with transmitted data and not to interfere with the normal operation of the Service.

3.1.13. The Provider is not liable for the consequences of a transfer to incorrect payment details specified by the Customer in the Order.

3.2. Bank card and bank transfer operations

3.2.1. Bank transfers are accepted only via online banking. If payment is made through a bank teller or ATM, the funds are returned to the Customer within one day minus fees, once the security team has identified the sender.

3.2.2. The Provider is not liable for the consequences of errors in the recipient details provided by the Customer.

3.2.3. Payouts to Visa/Mastercard cards take up to 60 minutes, and in exceptional cases up to 5 business days.

3.2.4. If the Customer changes the payment amount or pays the Order from a third party’s account, the Provider may block the payment. Refunds are made upon the Customer’s request under clause 3.1.4.

3.3. Digital asset exchanges

The speed of digital asset operations depends on how quickly the relevant blockchain network processes the transaction. The required number of confirmations is listed on the Network Confirmations page.

3.3.1. An Order in which the Customer sends a digital asset is considered paid once the required amount has arrived at the Provider’s address and the transaction has reached the required number of confirmations.

3.3.2. We recommend setting the network-recommended fee so the transaction confirms faster.

3.3.3. The payout amount is reserved for 1 hour from the creation of the Order. If payment arrives later, the exchange may be delayed depending on available reserves.

3.3.4. The rate is fixed once the required number of confirmations is received, taking into account the deviation of the Order rate from the Binance and KuCoin rates. Recalculation is made only in the Provider’s favor. A deviation related to rate updates within 1–2 minutes is permitted.

3.3.5. The Provider recalculates the payout at the current rate in the following cases:

• the transaction arrived after the payment window expired;
• the transaction arrived on time, but the amount does not match the Order;
• the payout failed due to incorrect recipient details or receiving restrictions on the recipient’s side;
• the rate changed — recalculation terms are shown when the Order is created; the Provider may execute the Order at the rate at the time of actual payout.

3.3.6. Orders in which the Customer receives a digital asset are usually completed within 5–180 minutes.

3.3.7. During high network load or technical failures beyond the Provider’s control, crediting may take up to 48 hours.

3.3.8. Orders paid with an amount below the minimum exchange amount are neither executed nor refunded.

3.3.9. If the Customer sent a digital asset but it did not reach the Provider within the payment window, the Customer must contact support and attach a screenshot of the transfer from their wallet or exchange showing the date and recipient address. Once confirmed, the payment address is archived. If the Customer does not contact support within 12 hours of creating the Order, the Provider may decline to execute the late-paid exchange.

3.3.10. Before transferring, we recommend checking your address and incoming transactions for risk using a specialized service such as AMLBot. The Service follows an AML/KYC policy that forms an integral part of this Agreement. Full terms are available on the AML/KYC page.

4. Rights and Obligations

4.1. The Customer may change the recipient details as long as the funds have not yet been sent, by emailing info@velorex.cc from the address specified in the Order and stating the Order number and the new details.

4.2. The Customer undertakes to:

• provide a valid email address when creating an Order;
• not use the Service for illegal trade or any other unlawful operations;
• not engage in financial fraud and not use the Service to create or promote pyramid schemes or for any other unlawful activity;
• not take any action that undermines efforts to combat money laundering;
• provide identity documents at the Service’s request in case of suspected fraud or money laundering (in accordance with the AML/KYC policy);
• not interfere with the Service or damage its software or hardware, and provide accurate information required to perform the Agreement;
• when participating in the affiliate program, not use traffic manipulation or spam.

4.3. The Provider may:

• set up a discount systеm for exchanges at its own discretion;
• not apply a discount if the Order generates no income for the Provider;
• suspend an operation pending a security review if the purpose is found to be profiting from the Service’s rate differences (arbitrage);
• upon official request, share transfer information with law enforcement, payment systеm administrators and victims of fraud established by a court;
• if the Order rate does not match the market rate for any reason, recalculate the Order at the current rate or refund the Customer;
• refuse to execute an Order, cancel an operation in progress and refund the funds if the Customer breaches this Agreement, and in other justified cases.

5. Force Majeure

5.1. If force majeure prevents execution of an Order, the deadlines are extended for the duration of such circumstances. Neither party is liable for delays or non-performance caused by natural disasters, fires, floods, terrorist acts, changes of government, civil unrest, or failures of payment systems, power supply, communication networks or internet providers. The Provider may request a document from the Customer confirming such circumstances.

5.2. In the event of a payout error, the Customer will be notified via the Order status and/or by email.

6. Jurisdiction and Taxes

6.1. The Service may be prohibited in certain jurisdictions. By accepting the Agreement, the Customer confirms that they are not a resident of such a jurisdiction. This Agreement does not override the laws of the countries where the Service is registered and where the Customer resides, nor the Customer’s agreements with payment systems. If the law or other obligations prohibit the Customer from using the Service, such use is also prohibited by this Agreement, and the Customer bears responsibility for it.

6.2. The Service is not the Customer’s tax agent and does not inform the Customer of their tax obligations. The Customer pays all taxes required by the laws of their country of residence on their own.

6.3. The Customer warrants that they own, or are legally entitled to dispose of, the funds used in their transactions, and confirms compliance with the AML/KYC policy.

6.4. The parties recognize this Agreement as having the same legal force as a written contract.

7. Claims and Disputes

7.1. Claims are accepted by email at info@velorex.cc or via the contacts listed on the website. The email must describe the claim and inсlude the Order number.

8. Final Provisions

8.1. Using the Service for illegal transfers or fraud is strictly prohibited. The Customer is liable for such actions in accordance with applicable law.

8.2. The Provider may amend this Agreement unilaterally without separate notice to the Customer by publishing a new version on the website. Amendments do not apply to Orders created before they take effect.

Have questions about the exchange terms? Contact support before creating an order.