Terms & Conditions

Blu Trading Limited Trading As “Blu OTC” Customer Terms And Conditions

1. These Terms

1.1             These are the terms and conditions on which we provide our cryptocurrency/cryptoassets, being digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds (Cryptocurrency) trading platform (the Platform) and services (Services) to you (the Member). Please review these terms carefully and ensure that you understand them before you use our Services or sign up to use the Platform. If you do not agree with these terms, you may not use our Services.

1.2             In some areas you will have different rights under these terms depending on whether you are a business or consumer. You are a consumer if you are an individual and you are using our Services wholly or mainly for your personal use (not for use in connection with your trade, business, craft or profession).

1.3             If you are a business customer these terms constitute the entire agreement between us. You acknowledge that you have not relied on any statement, promise, representation, assurance or warranty made or given by or on behalf of us which is not set out in these terms and that you shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this agreement.

2. Information About Us & How To Contact Us

2.1             We are Blu Trading Limited (BLU, we, us) a company registered in England and Wales. Our company registration number is 11658861 and our registered office is at 424 Margate Road Westwood, Ramsgate, Kent, England CT12 6SL. Our registered VAT number is [•]. You can contact us by telephoning our customer service team at 0203 1371 634 or by writing to us at Blu Trading Limited, 85 Great Portland Street, First Floor, London, W1W 7LT. If we have to contact you we will do so by telephone or by writing to you at the email address or postal address you  have provided to us when signing up to use our Services.

2.2             "Writing" includes emails. When we use the words "writing" or "written" in these terms, this includes emails.

3. Applying For Membership & Eligibility Criteria

3.1             You must be at least 18 years old in order to use our Services and become a Member.

3.2             By clicking on the sign-up link on the Platform and submitting the sign-up form, you apply to become a Member and open an account to use the Platform. You can either open an account as an individual person or a legal entity.

3.3             You must not open, or attempt to open, an account under any name except your own or use an account to carry out any transactions on behalf of a third party without our prior written consent. Your account is personal to you and must not be shared, nor are you allowed to create multiple accounts.

3.4             You are required to keep your account details accurate and up-to-date at all times.

3.5             If you open an account as a corporate entity, an agent representing your legal entity will be required to have full authorisation to enter into binding agreement on the Platform on behalf of your legal entity. We reserve the right to request proof of such authorisation.

3.6             By opening an account with us you warrant that you have read and accepted these terms and our Privacy Policy, you have full capacity to accept these terms and enter into a transaction involving Cryptocurrency.  You must at no time use our Services for any transaction which is illegal or contrary to any law or regulation in force in the United Kingdom.

3.7             Your use of our Services is subject to international export controls and economic sanction requirements. By using our Services, you agree that you will comply with any such requirements. You may not use our Services if you are a national from Iran, North Korea, Cuba, Sudan, Syria or any other country included in the US embargo, United Nations sanctions, HM Treasury’s financial sanctions regime of if you intend to provide any acquired Cryptocurrency to any such territories. Any user holding citizenship or residency, or who is a tax resident, in the United States of America is prohibited from using our Services.

3.8             In order to register with us, you must provide us with various personal information (as detailed in our Privacy Policy) and any information we request for the purposes of identity verification in order to perform Anti-Money Laundering checks. We may decide to verify your identity and/or the identity of your legal entity at any time using third party verification providers. We may at our sole discretion refuse to allow you access to Platform if we are not satisfied that you comply with all applicable identification verification requirements.

3.9             This contract will come into force on the date on which we confirm to you via email that your Member account has been approved. The contract will continue unless terminated in accordance with these terms.

4. Risk Statement & Financial Advice

Please be aware that the risk of loss when trading or holding Cryptocurrencies can be substantial. Cryptocurrencies are not currently regulated by any regulator in the United Kingdom. You should therefore carefully consider whether trading Cryptocurrencies is suitable for you prior to using our Services. There is no guarantee that you will be able to sell Cryptocurrency to any third party at a later time. By using our Services you warrant that you are familiar with the nature and workings of Cryptocurrency and the irreversibility of transactions and risks associated. For the avoidance of doubt, we do not provide any financial or investment advice in connection with the Services contemplated by these terms. Although we may provide information on the price, range and volatility or certain Cryptocurrencies, this is not considered as investment or financial advice. Any decision to obtain exposure to Cryptocurrencies offered as part of our Services is your decision and we will not be liable for any loss suffered. Please contact an independent financial advisor if you require advice on your exposure when using the Services. Please note that Cryptocurrency exposure is not regulated by the Financial Conduct Authority and you will not have any recourse with the Financial Ombudsmen in the event of a complaint in relation to our Services.

5.  Our Services

5.1             BLU operates an electronic Platform which allows its Members to buy and sell Cryptocurrency through our website (www.bluotc.com). Trading with BLU is conducted on a personalised basis where Members interact directly with our experienced traders, where trades are managed from first contact to settlement. BLU serves as a counterparty in the trades entered into on the Platform.

5.2             We will from time to time enter into orders with you in accordance with your instructions issued through the Platform.

5.3             You may not use the Platform to send requests to receive any Cryptocurrencies which are not expressly supported by BLU. The Cryptocurrencies which we support are Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Dash, Zcash, Ripple and Steller Lumens and any other Cryptocurrencies which we may notify you of from time to time.

5.4             There is a minimum of £50,000.00 per transaction on our platform. The minimum applies to all Cryptocurrencies.

5.5             We will not provide you with an individual Cryptocurrency “wallet” as part of our Services or hold any Cryptocurrencies on your behalf. You must have a digital wallet set up prior to trading with us. We do not hold digital wallets on behalf of our Members, and so it is vital that you set up a wallet using the provider of your choice. We will not enter into a trade with you until we have details of your wallet.

5.6             You must follow the instructions on our website to input a quote to buy or sell Cryptocurrencies on our Platform. Specifically, you must:

(a)          select the relevant Cryptocurrency and/or the fiat currency (as relevant);

(b)         select the amount you wish to buy or sell and request a quote;

(c)          await our decision as to whether we wish to make you an offer to trade; and

(d)         if you accept our offer, press the confirm button and this will fix the trading price (Trading Price) at which a trade will be completed.

The price which we offer you will depend upon the price at which we can buy or sell the relevant Cryptocurrency at such time.

If you are buying Cryptocurrency from us, you must make payment to us of a sum equal to the Trading Price as soon as we have agreed the trade. We will transfer the Cryptocurrency to you as soon as reasonably possible once we have received the Trading Price from you in full cleared funds.

If you are selling Cryptocurrency to us, you must make all reasonable efforts to send us the Cryptocurrency immediately. We will transfer a sum equal to the Trading Price to you in full cleared funds as soon as reasonably possible once we have received the Cryptocurrency from you.

5.7             When selling Cryptocurrency, you must carefully check and confirm the type of Cryptocurrency and bank details you provide to us. Once both parties have agreed to proceed with the trade, we will provide you with our wallet address to which you must transfer the Cryptocurrency. You must make all reasonable efforts to ensure that the transfer is made immediately upon agreeing to trade with us. We have no obligation to fulfil your order if we do not receive the full amount of Cryptocurrency within the specified time set out in clause 5.6.

5.8             When buying Cryptocurrency, you must carefully confirm the type of Cryptocurrency and public wallet address which you provide to us. Where you are buying Cryptocurrency, we will make all reasonable efforts to deliver the relevant Cryptocurrency to your wallet address as soon as reasonably practicable after receiving the Trading Price from you. It is your responsibility to provide the correct public wallet address. If you supply an incorrect public wallet address resulting in loss of funds, we are under no obligation to refund your payment. Once you have received Cryptocurrency in your wallet, you will have a beneficial interest in the relevant Cryptocurrency.

5.9             You hereby understand and agree that any price displayed on the Platform at which we sell or buy Cryptocurrency is for indication only and we are not bound to buy or sell at such prices. This is due to the highly volatile nature of the price of Cryptocurrency. The Trading Price which we provide in our quote will be inclusive of all applicable fees. All fees must be paid in fiat currency (being GBP pound sterling, US dollars or any other currency as we may notify you from time to time).

5.10          We reserve the right to refuse to accept any order by you at our sole discretion. We may refuse to cancel, process or swap any transaction or pending transaction as required by any applicable law or in response to a requirement or request or a regulator or any court of competent jurisdiction.

5.11          We are unable to reverse a Cryptocurrency transaction once it has been completed. You acknowledge that all executed transactions may not be cancelled and you may not change or reverse any transaction. If you are an individual Member, you are entitled to cancel this agreement by giving us notice in writing within a 14-day cancellation period from the date of commencement of the contract (Cooling off Period). You need not give any reason for cancellation during the Cooling off Period. However, upon executing a trade, you agree the Trading Price depends on fluctuations of Cryptocurrency prices which are outside of our control and which may occur during the Cooling Off Period, and as such you will have no right to cancel any trade once executed. For the avoidance of doubt, you will have no right to cancel this agreement during the Cooling off Period if any trade placed by you has been executed by us before we receive notice of the cancellation.

5.12          Prior to making any order with us, you must have credited fiat currency in your account. We accept payment by bank transfer only. If you wish to enter into a transaction with us to buy Cryptocurrency, you must deposit funds into our nominated bank account. For the avoidance of doubt, we do not custody fiat currency on your behalf and only accept fiat funds once a trade has been executed where you are buying Cryptocurrency from us.

5.13          You are solely responsible for paying any taxes which you might owe as a result of trading on the Platform or in relation to the Services.

5.14          We will always endeavour to process any transaction as soon as we can, however there may be delays in our Services. If our Services are delayed by an event outside our control then we will contact you as soon as possible to let you know and we will take steps to minimise the effect of the delay. Provided we do this we will not be liable for delays caused by the event, but if there is a risk of substantial delay you may contact us to end the contract.

5.15          The underlying protocols of the Cryptocurrencies which we support are subject to sudden changes in operating rules (Forks). If a Fork event occurs, we will use reasonable efforts to determine the best approach for our Members in relation to such event. Any decisions made on behalf of our Members will be at our sole direction. In the event that a Fork occurs within the underlying system, we are under no obligation to support the currency resulting from the Fork. We will endeavour, but will not be obliged, to warn Members of future Forks.

5.16          The Services are provided without warranty of any kind, either express or implied to the extent permissible under law. We do  not represent that the Services will be available 100% of the time to meet your needs. Our usual trading hours are 8.00am to 18.00pm from Monday to Friday United Kingdom time, however we may at our sole discretion arrange to provide Services outside of these hours if requested.  We will strive to provide you with the Services as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

5.17          We do not guarantee that our Services or website will be timely, reliable, error-free or free of any virus, worm, Trojan horse or other harmful component. Our Services may be discontinued due to down time and scheduled maintenances, power outages or equipment failure including the failure of third party systems (such as TradeBlock) which we use to perform our Services. We shall have no liability for any loss or damage caused by any virus or other harmful materials that infects your computer equipment, computer programs, data or other proprietary materials due to your use of our website.

6. Warranties & Obligations

6.1             By using our Services you warrant that:

(a)          you are over 18 years old and have full legal capacity to enter into this agreement;

(b)         you are the legal and beneficial owner of the Cryptocurrency that you are depositing into your account where you are selling;

(c)          all Cryptocurrency deposited into your account derive from legitimate/legal sources where you are selling;

(d)         if you applied as an individual Member, you are not acting on someone else's behalf;

(e)          if you applied for corporate membership, you are authorised to transact on behalf of your legal entity; and

(f)          you understand the risks associated with trading Cryptocurrency.

6.2             By using the Services you agree you will not:

(a)          hack, crack, copy, modify, reverse engineer or create derivative works of this Platform or any part of it;

(b)         gain unauthorised access to any part of the Platform;

(c)          disclose your login credentials to any third party;

(d)         use identical login credentials as used on other platforms;

(e)          remove copyright, trademark or any other notices from the Platform;

(f)          create software which replicates the data or functionality in the Platform;

(g)         make any part of this website available to a third party;

(h)         use the Platform for any illegal or immoral purpose; or

(i)           use the Platform in such a way as to adversely affect the Platform or the Members of the Platform including, but not limited to, spamming, marketing, excessive use and denial of service attacks.

7. Complaints & Ending Our Contract

7.1             This agreement has no fixed or minimum duration and can be ended by you or us. We may terminate this agreement at any time by giving you 30 days’ notice. You may terminate this agreement immediately at any time by writing to us. We may terminate this agreement and close your account immediately if you are in breach of this agreement, if we reasonably suspect criminal or fraudulent activity or if we would break the law by continuing this agreement.

7.2             If you wish to make a complaint you should inform us immediately by contacting us at info@bluotc.com. Please note that as Cryptocurrency is not regulated by the Financial Conduct Authority you will not have any recourse to the Financial Ombudsman Service in the event of a complaint.

8.   Our Responsibility For Loss Or Damage Suffered By You If You Are A Consumer

We are responsible to you for foreseeable loss and damage caused by us. If we fail to comply with these terms, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill, but we are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen. We do not exclude or limit in any way our liability to you where it would be unlawful to do so.

9. Our Responsibility For Loss Or Damage Suffered By You If You Are A Business

9.1             Nothing in these terms shall limit or exclude our liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or any statutory liability that cannot be excluded by law.

9.2             Subject to clause 9.1:

(a)          we shall not be liable to you, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data or any indirect or consequential loss arising under or in connection with any contract between us;

(b)         we shall not be liable to you for your inability to use or Platform or Services;

(c)          we shall not be liable to you for any losses arising from the inaccuracy or incompleteness of any market data provided to you in the course of us providing the Services;

(d)         we shall not be liable for any losses arising from any incorrect instructions received by us from you;

(e)          we shall not be liable to you for any loss or damage you may suffer because of any unforeseeable circumstances outside of our reasonable control, such as delays or failures caused by problems with another system or network, any breakdown of failure of transmission, communication, data processing or computer, facilities, mechanical breakdown, any act of government, war, riot or terrorism, or act of God or any action or hindrance in obtaining any materials, energy or supplies necessary for the performance of our obligations under these terms;

(f)          we shall not be liable where damage does not relate to our conduct, for example where the cause is due to a technical failure in a Cryptocurrency protocol, the Fork of a Cryptocurrency protocol or any action by another third party; and

(g)         our total liability to you for all other losses arising under or in connection with any contract between us, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall be limited to 25% per cent of the amount of the transaction in question.

9.3             You will indemnify us for any loss, liability, costs (including reasonable legal costs), damages or expenses arising from any breach by you of the terms of this agreement, including any fraudulent, negligent or reckless act, omission or default or your misuse of the Platform.

10. How We May Use Your Personal Information

We will only use your personal information as set out in our Privacy Policy.

11. General Terms

11.1          We may transfer our rights and obligations under these terms to another organisation. We will contact you to let you know if we intend to do this. If you are unhappy with the transfer you may contact us to end the agreement within 14 days of us informing you in writing and we will refund you any payments you have made in advance for services not yet provided. You may only transfer your rights or your obligations under these terms to another person if we agree to this in writing.

11.2          This agreement is between you and us. No other person shall have any rights to enforce any of its terms. Neither we nor you will need to procure the agreement of any other person in order to end the agreement or make any changes to these terms.

11.3          Each of the paragraphs of these terms operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

11.4          If we do not insist immediately that you do anything you are required to do under these terms, or if we delay in taking steps against you in respect of your breaking this contract, that will not mean that you do not have to carry out those actions and it will not prevent us taking steps against you at a later date.

11.5          These terms are governed by the laws of England and Wales. Both parties agree that any dispute shall be settled under the exclusive jurisdiction of the English courts.