DexBit logo
Back to About
Terms of Service

Effective Date: December 2024

1. Agreement to Terms

These Terms of Service ("Terms") constitute a legally binding agreement between you ("User", "you", or "your") and Dexbit (Pty) Ltd ("Dexbit", "we", "us", or "our"), governing your access to and use of the Dexbit cryptocurrency exchange platform, website, mobile applications, and all related services (collectively, the "Services").

By creating an account or using our Services, you agree to be bound by these Terms. If you do not agree to these Terms, you must not use our Services.

2. Eligibility

To use our Services, you must:

  • Be at least 18 years of age
  • Be a resident of a jurisdiction where our Services are legally permitted
  • Have the legal capacity to enter into binding contracts
  • Not be a person or entity subject to trade sanctions or embargoes
  • Not have been previously suspended or removed from our Services
  • Complete the required Know Your Customer (KYC) verification process

3. Account Registration and Security

3.1 Account Creation

To access certain features, you must create an account by providing accurate and complete information. You agree to:

  • Provide truthful, accurate, and current information
  • Update your information promptly if it changes
  • Complete all required identity verification
  • Maintain only one account per person

3.2 Account Security

You are responsible for maintaining the security of your account:

  • Keep your login credentials confidential
  • Enable two-factor authentication (2FA)
  • Notify us immediately of any unauthorized access
  • Use strong, unique passwords
  • Not share your account with others

Dexbit is not liable for losses resulting from unauthorized access to your account due to your failure to secure your credentials.

4. Services Provided

Dexbit provides a platform for:

  • Buying and selling crypto assets with South African Rand (ZAR)
  • Trading between different crypto assets
  • Custodial storage of crypto assets
  • Spot and futures trading
  • Depositing and withdrawing fiat and crypto assets

We reserve the right to modify, suspend, or discontinue any aspect of our Services at any time.

5. Trading

5.1 Order Execution

  • All orders are executed on a best-efforts basis
  • Orders may be partially filled or rejected due to market conditions
  • Executed trades are final and cannot be reversed
  • Price quotes are indicative and may change before execution

5.2 Trading Limits

We may impose trading limits based on your verification level, risk profile, or regulatory requirements. These limits may be modified at our discretion.

5.3 Market Data

Market data provided on our platform is for informational purposes only. We do not guarantee the accuracy, completeness, or timeliness of any market data.

6. Fees

You agree to pay all applicable fees as set out in our Fee Schedule, which is available on our website. Fees may include:

  • Trading fees (maker and taker fees)
  • Deposit fees (if applicable)
  • Withdrawal fees
  • Network/blockchain fees

We reserve the right to modify our fees at any time with reasonable notice.

7. Deposits and Withdrawals

7.1 Fiat Currency

  • Deposits must be made from bank accounts in your name
  • Third-party payments are not accepted
  • Withdrawals will be sent to verified bank accounts only
  • Processing times may vary based on banking hours and verification requirements

7.2 Crypto Assets

  • Ensure you send crypto assets to the correct address and network
  • We are not responsible for assets sent to incorrect addresses
  • Minimum deposit and withdrawal amounts may apply
  • Certain assets may require additional confirmations

8. Prohibited Activities

You agree not to engage in any of the following:

  • Money laundering, terrorist financing, or fraud
  • Market manipulation, including wash trading and spoofing
  • Using the Services for illegal purposes
  • Circumventing security measures or access controls
  • Interfering with the proper functioning of the platform
  • Impersonating another person or entity
  • Using automated bots without authorization
  • Transmitting malware or harmful code
  • Violating any applicable laws or regulations

9. Suspension and Termination

We may suspend or terminate your account if:

  • You breach these Terms
  • You engage in prohibited activities
  • Required by law or regulatory authority
  • Your account is flagged for suspicious activity
  • You fail to complete required verification

Upon termination, you must withdraw your assets within the timeframe specified. Unclaimed assets may be forfeited in accordance with applicable laws.

10. Intellectual Property

All intellectual property rights in the Services, including trademarks, copyrights, and patents, belong to Dexbit or its licensors. You are granted a limited, non-exclusive, non-transferable license to use the Services for personal, non-commercial purposes.

11. Disclaimer of Warranties

THE SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE" WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED. DEXBIT DISCLAIMS ALL WARRANTIES, INCLUDING BUT NOT LIMITED TO:

  • Merchantability and fitness for a particular purpose
  • Non-infringement
  • Accuracy or reliability of information
  • Uninterrupted or error-free operation
  • Security from cyber attacks or data breaches

12. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, DEXBIT SHALL NOT BE LIABLE FOR:

  • Any indirect, incidental, special, consequential, or punitive damages
  • Loss of profits, revenue, data, or business opportunities
  • Losses resulting from your trading decisions
  • Losses due to market volatility or price movements
  • Losses due to cyber attacks, hacking, or security breaches
  • Service interruptions or system failures

Our total liability shall not exceed the amount of fees you paid to us in the 12 months preceding the claim.

13. Indemnification

You agree to indemnify and hold harmless Dexbit, its officers, directors, employees, and agents from any claims, damages, losses, or expenses arising from:

  • Your use of the Services
  • Your breach of these Terms
  • Your violation of applicable laws
  • Your infringement of third-party rights

14. Governing Law and Dispute Resolution

These Terms are governed by the laws of the Republic of South Africa. Any disputes shall be resolved as follows:

  • Negotiation: Parties shall first attempt to resolve disputes through good-faith negotiation
  • Mediation: If negotiation fails, disputes shall be submitted to mediation
  • Arbitration: Unresolved disputes shall be finally settled by arbitration in Johannesburg, South Africa

15. Amendments

We may amend these Terms at any time by posting updated Terms on our website. Material changes will be notified via email or platform notification. Your continued use of the Services after such changes constitutes acceptance of the amended Terms.

16. General Provisions

  • Severability: If any provision is found invalid, the remaining provisions remain in effect
  • Waiver: Failure to enforce any right does not constitute a waiver
  • Assignment: You may not assign these Terms without our consent
  • Entire Agreement: These Terms constitute the entire agreement between us
  • Force Majeure: We are not liable for failures due to events beyond our control

17. Contact Information

For questions regarding these Terms, please contact:

Email: legal@dexbit.co.za

Address: P and L Building Right Wing, C/O Frikkie Meyer Blvd and Kelvin Blvd, Vanderbijlpark, Gauteng, 1911, South Africa

By using Dexbit Services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.