ToS, do you read it before using new platforms? - page 2.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Search on KYC when register account is good but not enough. Companies change their policies and KYC is one of possible changes. I know some people don't log in their accounts or don't revisit company websites when they feel disappointed with loss. It is a bad behavior because risks of freeze on inactive accounts or KYC requirements.

Please see the announcement of Bitmex: Announcing the BitMEX User Verification Programme. This change is applied for international users, globally and not only in the US.

Another information need to be noted is window time of KYC verification, on Bitmex, you will be allowed to finish KYC till 12 Feb. 2021. Furthermore, pay your attention on window time to withdraw your fund if you don't want to do KYC.

Quote

The User Verification Programme will go live from 00:00 UTC on 28 August 2020. It will be mandatory for all BitMEX users to have completed identity verification by 12 February 2021 at 00:00 UTC in order to continue trading on our platform.

SFR10

legendary

Activity: 2968

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Crypto Swap Exchange

Up until the earlier years of my crypto journey, I used to be like others ^{[ignored those pages or quickly scrolled those pages]} but after bumping into Coinbase, I learned my lesson ^{[I really do hate them until now but thanks to them, I've gained some knowledge from those bad experiences]}. Nowadays I do read every single page ^{[not only TOS and FAQ]} of a new platform that I'm trying to sign in and I also know that it's quite boring but it usually saves me from having a headache later on...

Quote from: hd49728 on August 31, 2019, 11:01:41 AM

Cloudbet

Quote from: https://www.cloudbet.com/en/terms_and_conditions

Still not found but I remembered Cloubet does not allow US. cizitzens

Here you go:

Quote from: https://www.cloudbet.com/en/terms_and_conditions

5.1.3. You agree that at all times when using the Website you are not a resident of any of the following countries:

the United States of America and its territories;
United Kingdom;
Hong Kong;
Singapore;

o_e_l_e_o

legendary

Activity: 2268

Merit: 18771

Quote from: Saint-loup on February 25, 2020, 10:23:14 AM

When you deposit your cryptos on platforms, you don't sell them or give them for free to the platforms, it's still your property, not the property of platforms.

They are not your property, though. An exchange can't even point to the bitcoin you own on their exchange, because it is all combined in consolidation transactions in to their main central wallet along with everyone else's deposited bitcoin. All you have is an "IOU" in the form of numbers in your account balance. It would be like if 50 people give me a glass of water and I pour all the water in to a barrel. Sure, I might owe everyone a glass of water, but you don't retain ownership of the water because that would be impossible, and the water I promise to give you back won't be the water you deposited.

Quote from: Saint-loup on February 25, 2020, 10:23:14 AM

and I don't think there are many countries in the world where you can seize the goods of your customer just for not having respected a clause of your ToS. So such clauses are unlawful.

Not only can that happen, but most of the time the laws of the country encourage it. The most common reason by far that people have their coins confiscated by an exchange are because the exchange starts demanding incredibly invasive KYC with no forewarning, and blame the laws of the jurisdiction they are based in. If the users don't want to give some stranger online all the information required to completely steal their identity and ruin their life, then your coins are essentially confiscated and you can no longer trade or withdraw.

Saint-loup

legendary

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Quote from: hd49728 on August 31, 2019, 11:01:41 AM

Because if you are not careful, you might lose your money, and those platforms have rights to reject your deposit returns when you fraud them, or violate their rules in ToS.

Don't spread this kind of hoax please, by doing that you're making yourself accomplice of scammers.
No, they've not the "right" to confiscate your goods just because you didn't respect their ToS.
When you deposit your cryptos on platforms, you don't sell them or give them for free to the platforms, it's still your property, not the property of platforms. So if they confiscate your cryptos it's a theft.
ToS have to respect the laws of the country of the platform, and I don't think there are many countries in the world where you can seize the goods of your customer just for not having respected a clause of your ToS. So such clauses are unlawful.
Moreover platforms regularly change their ToS without giving notice to customers, so customers are often unaware of the changes in the ToS. No need to mention that crypto platforms generally don't care of their own ToS when a customer ask something from them...

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: judeafante on February 17, 2020, 04:59:41 AM

Some TOS' is just the same I just read run them over to check if some new entries are created from all the other sites that I sign up with, there is software that automatically creates a TOS for your websites only differ in names

I don't know that there are softwares to do that like you said but will site owners really need such softwares? I don't think they need it. It is very easy for them to copy ToS or FAQs of another well-known site and modify according to their own policies.

It is the point to start discovering highly potential scam sites too. If you find plagiarsims from their ToS or FAQs, let's think deeply about their legitimacy.

Even a scam site, their owners will modify plagiarised ToS and FAQs in order to build up their own rules, that protect them but help them more easily to scam their users.

judeafante

sr. member

Activity: 2254

Merit: 258

Some TOS' is just the same I just read run them over to check if some new entries are created from all the other sites that I sign up with, there is software that automatically creates a TOS for your websites only differ in names, but always pay attention about refund and chargeback when you are investing or paying in a finance website, this is just to make sure.

Negotiation

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: DimitrisLodirogas on October 31, 2019, 12:14:29 PM

Always, do it! Reading 'manuals ' has changed my workflow totally. Yes it takes more time but you get so much better insight if taking a few minutes before starting exploring. A good examples of such platforms: Coingy, Tradedash, Newscrypto... thank me later!

I also always wear these before using the new platform After researching different places the scam can be reduced somewhat I love reading CryptoNews and the latest updates I also watch videos many times. New exchanges should take a long time to see the sites they take a little longer to learn.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Saisher on February 15, 2020, 01:24:47 AM

I usually read the FAQ more than the TOS but if it is something related to money investing and finance I take a time to read it, but sometimes they all have the same TOS I just scroll them and review because it's to long and some wording their are just the same like all the other TOS but you must read and be familiar at least on the site where you are active the most

FAQs is a very shorter version of ToS. FAQs collect and present very vital sections of ToS. From FAQs, if you want to get more details, more explanations from platform's owners, let's move to ToS, that is much longer written.

For me, with very important things, I usually double-check both FAQs and ToS. Sometimes, platform owners forget to update both FAQs and ToS so they are potentially have different minor details (due to inconsistent updates for both).

Saisher

full member

Activity: 2324

Merit: 175

I usually read the FAQ more than the TOS but if it is something related to money investing and finance I take a time to read it, but sometimes they all have the same TOS I just scroll them and review because it's to long and some wording their are just the same like all the other TOS but you must read and be familiar at least on the site where you are active the most

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

I used to put on sporting events and one of the conditions of entry was signing a disclaimer.

It was very striking that only 10% at most took the time to read it. Everyone else signed it without looking.

They could've been signing away their house or testicles and there would've been no possibility of contesting it.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Theb on September 02, 2019, 07:53:21 AM

On the legal point of view sadly terms of services, user agreements, and terms and conditions are legally enforceable once both parties (the service and the user) agreed on the online list of conditions given by the service itself.

Not really or at least not in the European Union.
We have a directive on what is called "Unfair contract terms".
Most companies and especially exchanges around here think that they can put anything in their T&C and if the user agrees, then it's perfectly legal.
Well, it's not!!!

The best example is the short time notice cancellation.
The whole thing that they reserve to change the terms without notice or cancel their service is pure bs, under European law you have to give the client enough time between the notice and the actual cancelation of the services so that it will not cause financial or any other harm.
And unfair terms are not binding by EU law, so any judge will take a piss on that in court.

EdenHazard

legendary

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Merit: 1048

Quote from: hatshepsut93 on September 03, 2019, 12:50:15 AM

I usually check the faq if it is present, it often has the most important parts of the ToS. If I do have to read ToS, I use ctrl + f and search for keywords like KYC, country restrictions, transaction limits and so on. I already have some small amounts of coins stuck on exchanges that allow deposit for everyone, but require KYC to withdraw - a very scummy practice if you ask me.

Indeed reading the whole ToS or FAQ is something that I believe more than 99% people who gonna use certain platform skipped it, not just because they are lazy but they knew things just for formalities, the ToS would be about general thing which we do understand already (at some point it feels like wasting time) but of course it's important especially when it's involved a huge amount of money ... it's a must for you to read every single word on ToS and FAQ.

Other than that, I would doing ctrl+F ... looking for the part that I consider it's important, just like what you do Grin

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Kakmakr on November 06, 2019, 02:50:22 AM

I usually only read the "Terms of Service" when I want to know something specific. I never read the whole thing, because I know it is a waste of time.

The fastest and easiest way to get very important things on any platform is to read its FAQs. FAQs contain most common questions and of course most important things for customers.
After reading FAQs, if there is something unclear or need more details, let's jump into the ToS and find the section of things you are interested in and want to find out more.

Kakmakr

legendary

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Merit: 1965

Leading Crypto Sports Betting & Casino Platform

I usually only read the "Terms of Service" when I want to know something specific. I never read the whole thing, because I know it is a waste of time. If you really want to use that service, then no "Terms of Service" is going to hold you back. You would rather hope that you do not run into trouble and just shoot from the hip... right.

In any way, I never deposit large amounts of money into any website or even exchanges, so it is not a train smash if I lose a little bit of money, if and when I break the specifications or rules in the "Terms of Service". Roll Eyes

mersal

member

Activity: 1204

Merit: 38

To be honest I just skip the terms and conditions when entering into a new site but if I am going to deposit or trade huge amount of money there I will look at the terms to avoid any loss of money because many fellas lost their money in cryptos just because of their small and unknown mistakes.

pgbit

sr. member

Activity: 771

Merit: 258

Trident Protocol | Simple «buy-hold-earn» system!

As much as I want to agree that I read every terms and agreement in every site before I click on the agree button, I have to be honest, I have never read any terms and agreement in any website because they just seem too long and are one of the most boring things you could ever read, infact I just discovered now that some people actually take the time to read it, I know it is probably a good idea to read it before agreeing to anything, but it just seems so tedious, I will endeavour to start reading it anywhere money is concerned.

Nawrod

jr. member

Activity: 135

Merit: 1

Yes, I always read terms of service, it's very very important! Even when I register on the reliable exchanges like CoinDeal or Kraken, I always read. I know that reading such terms is just boring, but it's good to know them... Do not register everywhere, there are a lot of scams in the cryptocurrency world.

Krislaw

sr. member

Activity: 1204

Merit: 388

I don't always read ToS during signups or registration especially during exchange sign up. I don't move huge funds and I don't violate common rules of exchanges.

Quote from: GreatArkansas on September 02, 2019, 01:55:23 AM

And I know there's also a lot of people who are just contacting the support of particular website arguing about the problem they encountered and once the support quoted their TOS before creating an account, what a really huge facepalm Cheesy

Once happened to me before, it's been long since I used the exchange so I deposited on it the my funds was locked and I was told to complete KYC before I could trade or withdraw.

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

Always, do it! Reading 'manuals ' has changed my workflow totally. Yes it takes more time but you get so much better insight if taking a few minutes before starting exploring. A good examples of such platforms: Coingy, Tradedash, Newscrypto... thank me later!

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: hatshepsut93 on September 03, 2019, 12:50:15 AM

If I do have to read ToS, I use ctrl + f and search for keywords like KYC, country restrictions, transaction limits and so on.

That's something of a dangerous game. Their terminology may not match the norm.

These days I assume everywhere KYCs unless proven otherwise. And plenty of places I've visited certainly don't deserve my lovely documentation.

Topic: ToS, do you read it before using new platforms? - page 2. (Read 1081 times)