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NAX Capital: Terms & Conditions

1. General Use

1.1 Eligibility

You may use the Services only as an Approved User, meaning you are at least 18, legally capable, authorised (if an entity), provide all required account information, and pass all checks by NAX Capital.

1.2 Agreements and promises

By using the Services, you confirm that you:

  • meet eligibility requirements,
  • authorise necessary checks,
  • accept these Terms, the Privacy Policy, and all fees,
  • keep your information accurate and up to date,
  • provide further details if requested,
  • understand the risks of Digital Currencies,
  • agree to arbitration under clause 16.2, and
  • acknowledge NAX Capital has not provided you financial advice.

2. Your User Account

2.1 Creating a User Account

You must register and activate a User Account with details such as name, email, password, and acceptance of these Terms and Privacy Policy. Verification requires personal/entity information, contact details, beneficial ownership confirmation, and any further compliance documents. Two-factor authentication is strongly recommended.

2.2 Purpose

Your account provides access to the Services, links to your Legal Tender Account and Digital Currency Wallet, and records Transactions. Log in only via the NAX Capital Site or Exchange.

2.3 Promises

You agree to:

  • use a strong, unique password,
  • secure all credentials and private keys,
  • not share or duplicate accounts, and
  • promptly report any unauthorised access.

2.4 Confirmations

You confirm NAX Capital may verify your identity, you are responsible for your account security, and accept risks of unauthorised access if you are negligent.

3. Your Legal Tender Account

3.1 Purpose

Used to fund Digital Currency purchases and receive sale proceeds.

3.2 Activation

Link a registered bank account in your name and transfer funds to NAX Capital's Custodial Bank Account.

3.3 Currency

Only Australian Dollars (AUD) or New Zealand Dollars (NZD) may be held in your Legal Tender Account.

3.4 Fees

No fees apply for deposits or withdrawals into/out of the Custodial Bank Account.

4. Your Digital Currency Wallet

  • Send, receive, and store supported Digital Currencies.
  • Supported currencies are listed on the Exchange and may change without notice. Unsupported protocols (e.g. forks, derivatives, sidechains) are not accepted.
  • Transaction fees apply, and miner fees may be deducted.
  • Transactions may be delayed if retrieved from offline storage.
  • You accept all risk from errors, counterparties, unsupported assets, and network issues.

5. NAX Capital Ledger

Maintains a private ledger to track balances. Ledger entries are internal; only blockchain transfers are visible externally.

6. NAX Capital Transactions

  • Buy, Sell, and Exchange Transactions available (no margin/shorting).
  • Pending transactions are incomplete until confirmed.
  • Limits and compliance checks may apply. Orders cannot be revoked once placed, but cancellation requests may be submitted if not yet filled.
  • All offers are recorded in the Order Book; matched trades are logged in the Ledger.

7. Buy Transactions

  • Funded via your Legal Tender Account at market rates, settled immediately, and logged in the Ledger.
  • NAX Capital debits your account and transfers Digital Currencies to your Wallet.
  • Orders may be cancelled if erroneous or disruptive to markets.
  • Stop/Limit Orders available.
  • Partial fills hold remaining funds until completed or cancelled.
  • You confirm full responsibility for accuracy and acknowledge risks of execution.

8. Sell Transactions

  • Funded via your Wallet, settled at market price, logged in the Ledger.
  • Authorises NAX Capital to debit your Wallet and transfer funds.
  • Proceeds (less fees) are sent to your Legal Tender Account.
  • Stop/Limit Orders available.
  • Unfilled amounts remain on hold.
  • You confirm full responsibility for Sell details and risks of execution.

9. NAX Capital Exchange

The order-matching engine runs 24/7 (except maintenance). All trades must be pre-funded.

10. Suspension

Services may be suspended without notice for prohibited use, hard forks, force majeure, market disruption, or legal requirements. During suspension, NAX Capital is not liable for losses, though users may be permitted to withdraw assets.

11. No Prohibited Use

No use for illegal, fraudulent, harmful, or unauthorised activities (money laundering, gambling, hacking, IP infringement, promoting unsupported assets, etc.). Access may be blocked without notice.

12. Rights and Remedies

If you breach Terms or laws, NAX Capital may restrict access, warn others, suspend/cancel your account, or cooperate with regulators/law enforcement.

13. Fees

You agree to pay all applicable fees for services, orders, and transactions.

14. Taxes

You are solely responsible for any tax liabilities. NAX Capital assumes no responsibility for collection, reporting, or remittance.

15. Liability and Indemnity

  • NAX Capital excludes liability for losses except where law prohibits exclusion. Liability is limited to service fees paid or re-supply of services.
  • Services are provided "as is," with no warranties for accuracy or reliability.
  • Not liable for damages caused by cyberattacks, forks, suspensions, force majeure, or your own obligations.
  • You indemnify NAX Capital against losses from your breaches or prohibited use.

16. Complaints and Disputes

Complaints may be lodged via the Support portal. Acknowledgment will be given within 5 business days, and matters investigated.

17. Amendments

NAX Capital may amend these Terms (including fees) to comply with law, reflect service changes, or adjust for costs. Updates will be posted online; continued use means acceptance. Where possible, users will be notified by email.