Elbaite Legal

Elbaite's Terms & Conditions

Customers use and access the Elbaite platform, which is owned and operated by Elbaite Pty Limited​​ (ACN 623 185 875) (we, us, our or Elbaite), in accordance with these terms and conditions (Terms). 

By using, or attempting to use, any Elbaite Service, you (Customer or you) agree that you have read, understood and accept these Terms. Each time you use the Elbaite Platform, you reconfirm your acceptance to the Terms.  

  1. Definitions

Unless the context indicates otherwise, the following terms have the meanings below:

  • AML Act means the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (Cth) and all associated regulations and rules.
  • AML Policy means the policies and programs maintained by Elbaite to comply with the AML Act.
  • AUD means Australian Dollars.
  • Australian Consumer Law means Schedule 2 of the Competition and Consumer Law Act 2010 (Cth).
  • Business Day means a day that is not a Saturday, Sunday or public holiday in Melbourne, Victoria, Australia.
  • Buyer means a person that purchases Crypto Assets through the Elbaite Platform.
  • ChangeNow Terms means the terms of Elbaite’s third party service provider, ChangeNow, which are accessible at https://changenow.io/terms-of-use.
  • Customer means a person that accesses or uses Elbaite Services.
  • Client Escrow Account means Elbaite’s bank account into which a Customer transfers AUD for the settlement of Crypto Assets bought through the Elbaite Platform.
  • Crypto Asset means a digital representation of value or rights which may be transferred or stored electronically, using distributed ledger (or similar) technology, including for example Bitcoin, Ethereum and USDT.  
  • Dispute means a dispute, controversy or claim between any of the parties as to:
  • the construction of these Terms;
  • the rights or obligations of a party under these Terms; or
  • any other matter arising out of or relating to these Terms.
  • Elbaite Account means the account through which you access the Elbaite Services. You must apply to create an Elbaite Account by completing the required steps, and be issued with an Elbaite Account, before you can use Elbaite Services.
  • Elbaite AUD Balance means the funds that you transfer to Elbaite to hold on your behalf for the purpose of buying Crypto Assets via the Elbaite Platform, and which is accessed via your Elbaite Account.  
  • Elbaite Marketplace means the “wallet to wallet” Crypto Asset exchange platform provided by Elbaite, which enables Customers to buy and sell Crypto Assets, and which is accessed via the Elbaite Platform. A wallet can be via an Elbaite Vault or Self Custody Wallet.
  • Elbaite Platform means and includes Elbaite’s Web app app.elbaite.com (“Web version”) and Elbaite’s website www.Elbaite.com (“Elbaite Website”) and other web assets on the Elbaite.com domain.  
  • Elbaite QBS, which stands for “quick buy sell”, enables Customers to transact via the Elbaite Platform with Elbaite as the counterparty to buy and sell Crypto Assets.
  • Elbaite Services means the services made available from time to time on the Elbaite Platform, including but not limited to Elbaite Marketplace, Elbaite AUD Balance, Elbaite Vaults, the Buy/Sell Crypto (QBS) widget, Buy with Card and Elbaite Swap.
  • Elbaite Swap means the ability to swap one Crypto Asset for another Crypto Asset as a Buyer or Seller via ChangeNow, a third party service provider. For example, swapping ETH for BTC is achieved by the User sending an amount of ETH from Their (ETH) wallet and receiving an amount of BTC to Their (BTC) wallet. Elbaite supports swaps between various common Crypto Asset types.
  • Elbaite Vault means a “vault” maintained by Elbaite for a Customer with a crypto wallet address for each relevant blockchain. A separate vault is maintained for each Customer. The wallets within each Elbaite Vault are for use within the Elbaite ecosystem, and cannot be used by the Customer to send or receive Crypto Assets from outside the Elbaite ecosystem.
  • Force Majeure means and includes but is not limited to any cause arising from or attributable to acts, or events, beyond the reasonable control of Elbaite, including natural calamity, strikes, terrorist action or threat, civil commotion, riot, crowd disorder, invasion, war, threat of or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, structural damage, epidemic, pandemic or natural disaster, calamity, attacks including through computer viruses, hacking, denial of service attacks, ransomware, blockchain congestion, failure of a service provider’s platform, failures or fluctuations of telecommunications, software or hardware or other equipment, or other manmade disruptions or any law, order enactment, statutory direction, legislation, regulation, rule or ruling of government or any court of law or of a government or regulatory authority, including Crypto Assets or the trading of Crypto Assets being illegal in a jurisdiction that applies to Elbaite or a Customer, or the non-performance of a third party for any similar cause beyond the reasonable control of such party.  
  • Information includes but is not limited to computer code, designs, drawings, diagrams, illustrations, photographs, pictures, text, graphics, etc. protected by copyright.
  • KYC means Know Your Customer requirements under the AML Act.
  • Law means all relevant law, including all statutory, regulatory and common laws
  • Privacy Policy means Elbaite’s privacy policy available at: https://www.elbaite.com/privacy-policy
  • Prohibited Jurisdiction means a jurisdiction that is subject to a sanction under the United Nations Security Council sanctions regime.
  • Purchase Price means the AUD amount which a person agrees to purchase Crypto Assets.
  • Regulator means AUSTRAC or such other relevant government authority.
  • Self-Custody Wallet means a Crypto Asset wallet address that is owned or otherwise controlled by the Customer.
  • Seller means a person that sells Crypto Assets through the Elbaite Platform.
  • Transaction Fee in relation to a purchase of Crypto Assets means 1% of the Purchase Price. 
  • Transaction Total in relation to a transaction on Elbaite Marketplace means the Purchase Price plus the Transaction Fee.
  • Transak Terms means the terms and conditions governing Transak Limited’s “Express Buy” services, which are available at https://transak.com/terms-of-service
  1. Risk Warning

Trading in Crypto Assets involves a high degree of risk, including the potential loss of all your investment, and may not be appropriate for you. Customers should seek independent advice and consider whether trading Crypto Assets is appropriate for you and your personal circumstances.

There are also risks involved in transferring Crypto Assets. Due to the irreversible nature of crypto protocols, once you have transferred your Crypto Assets to another wallet address or persons, Elbaite cannot recover those Crypto Assets for you.

You acknowledge that there are risks involved in buying and selling Crypto Assets via the Elbaite Platform, and that it is your responsibility to determine whether a transaction is appropriate for you.

  1. General Information

As this document is a legally binding contract, you are required to carefully read through these Terms and related notices before using any of Elbaite’s Services.

The use of our website to access the Elbaite Platform, Elbaite Services, our apps, and any of our content on any computer, mobile phone, tablet, console or other device is subject to these Terms.

If you disagree with these Terms, you must not proceed to initiate account registration with Elbaite or seek to acquire any of the Elbaite Services.

  1. Eligibility and customer representations

You may only use the Elbaite Services if you have a registered Elbaite Account. To be eligible for an Elbaite Account, you must:

  • be either an individual who is at least 18 years or older, a body corporate, a partnership, a corporate or individual trustee of a trust, an Australian government body or an association (incorporated or unincorporated) that is capable of forming a legally binding contract;
  • hold a valid email address, physical address, and contactable mobile phone number;
  • have an Australian bank account that can be linked to your Elbaite Account that is valid and which legally is controlled by you;  
  • provide all information that we request to set up your account and complete ID verification, including but not limited to your full name, current address and date of birth); and
  • not be a citizen or resident of a Prohibited Jurisdiction.

Elbaite may refuse to register your Elbaite Account, or to provide you with any Elbaite Service, from time to time in its sole discretion, even if you meet the eligibility requirements above.

You represent and warrant that, in all dealings with Elbaite:

  • you will act honestly at all times;
  • you will provide information that is complete, accurate and up to date;
  • you will not be in breach of any other agreement or law by using Elbaite Services;  
  • you are not on any trade or economic sanctions lists, including but not limited to the United Nations Security Council Sanctions List;
  • you will only maintain one Elbaite Account at any given time, and will not attempt to create more than one Elbaite Account;  
  • you will not share your Elbaite Account login details with any person, or otherwise facilitate another person gaining access to your Elbaite Account;  
  • you will notify Elbaite immediately if you are aware of any unauthorised use of your Elbaite Account or password by any person or any other violations of your security;
  • will strictly observe the security, authentication, dealing, charging, transferring mechanisms or procedures of the Elbaite Platform;
  • you are not a competitor of our business, and will not otherwise use the Elbaite Services to directly or indirectly compete with our business;  
  • you will not use, or attempt to use, a bank account of Crypto Asset wallet in connection with your Elbaite Account that is not in your name or that you are not legally entitled to control;  
  • you will only access the Elbaite Platform via the interfaces that we provide for doing so, and will not use any anonymous network or protocol to access the Elbaite Platform;
  • you will not violate any of Elbaite’s rights or any other person’s rights, including but not limited to intellectual property rights, by using Elbaite Services;  
  • you are solely responsible to ensure that any Crypto Asset or AUD currency is transferred to the correct wallet or account in accordance with the information provided by Elbaite; and
  • you will pay all fees and/or charge payable to us or other third party incurred by you in connection with using or accessing Elbaite Services; and
  • if you have received, acquired, or accumulated any Crypto Assets or AUD due to an error, glitch or loophole, Elbaite may take reasonable actions to recover the funds or assets and you agree to cooperate with the process and that any such Crypto Asset or AUD was misappropriated. If you become aware of any such error, you must notify Elbaite immediately.
  1. Prohibition of Use

You agree that you will not use the Elbaite Platform, either directly or indirectly, for any of the following prohibited purposes:  

  • unlawful activity;
  • fraud;
  • gambling;
  • intellectual property infringement;  
  • defamation or abuse; 
  • terrorist financing;
  • money laundering;
  • distributing or funding drugs and drug paraphernalia; or
  • malicious hacking.
  • scamming

You agree and acknowledge that we will not be liable for any fraudulent or illegal activity conducted via the Elbaite Platform that is facilitated by you, or via your Elbaite Account with your permission or knowledge.  

You will not use the Elbaite Platform for the purpose of obtaining, processing, distributing, viewing, assessing, analysing, copying or replicating any information, methods or processes related to the Elbaite Platform (including without limitation by way of data scraping, the use of collection or accumulation tools and robotic or scripted responses). In particular, you agree that:

  • you will not reverse engineer, disassemble or otherwise attempt to construct, copy or replicate Elbaite’s source code, formulas or processes;
  • you will not interfere with the security of the Elbaite Platform or the safe use of the Elbaite Platform by others (including without limitation by way of distributing viruses, corrupted files or other similar software or programs that may damage the operation of any computer hardware or software or which are otherwise directed at the Elbaite Platform or its users);
  • you will not use the Elbaite Platform for any purpose that is unlawful or prohibited or in a way which infringes the intellectual property rights or other rights of any person (including Elbaite);
  • you will not knowingly or recklessly use and/or take advantage of a technical or technological error, loophole or glitch on the Elbaite Platform;
  • you will not use the Elbaite Platform or the information contained in it for commercial purposes which are competitive to the Elbaite Platform or our business or which would otherwise be detrimental or prejudicial to Elbaite’s interests in any way;
  • you will not use systematic, repetitive or other related methods which are designed to generate or obtain repetitive and repeated amounts of data or other information from or to the Platform or which may otherwise place an unreasonable load on the infrastructure of the Elbaite Platform;
  • you will not publish, post, distribute, disseminate or send ‘spam material’ or engage in any communication that is offensive, false, unlawful, defamatory, indecent, unfair or inappropriate in any way to others, which would reasonably be considered misinformation or which is deliberately false, misleading, or deceptive (or likely to mislead or deceive);
  • you will not collect or store personal data about other users of the Elbaite Platform; or
  • you will not do anything else which may interfere with or negatively affect the operation of the Elbaite Platform or other users, including for example by overloading network equipment with unreasonable data loading requests or executing malicious sales or purchases on the market.
  1. General Provisions Relating to the Elbaite Platform

Elbaite reserves the right to cancel, suspend or block any transaction made through the Elbaite Platform in its sole discretion, including but not limited to in the event of abnormal, suspicious or fraudulent transactions.

You are solely responsible for the safekeeping of all information relating to your logins and passwords relating to Elbaite Services, including for your Elbaite Account.  

Password Security: Keep your Elbaite Account password secure. Use a strong, unique password changed regularly and never shared.

Two-Factor Authentication (2FA): Elbaite mandates 2FA to enhance account security. Activate 2FA via your account settings using an app like Google Authenticator or Authy. You'll need both your password and the 2FA code to access your account or authorize transactions.


  • Secure your 2FA device and application.
  • Immediately report lost or stolen devices, or suspected unauthorized access to your 2FA codes.
  • Failure to secure your login credentials and use 2FA may result in unauthorized access to your account and could lead to its suspension or termination.

Elbaite will not ask a Customer to share any password at any time. In addition, Elbaite will never ask a Customer to share their Crypto Asset wallet’s private key or seed phrase.  

Elbaite strives to maintain accuracy of information posted on the Elbaite Platform, but does not guarantee the accuracy, suitability, reliability, completeness, performance or fitness of information provided by Customers or other third parties.

You are responsible for maintaining the security of your Elbaite Account and protecting against unauthorised access. Elbaite is entitled to assume that any instruction it receives from a Customer’s Elbaite Account is a legitimate instruction, and to act on such instruction.

  1. Elbaite marketplace

Elbaite Marketplace is a “wallet to wallet” exchange service which allows Customers to buy and sell Crypto Assets from each other. This can be done by:

exchanging Crypto Assets for AUD, in which case Elbaite will facilitate the payment of AUD from the Buyer to the Seller.

Before you can transact Crypto Assets with other Customers on Elbaite Marketplace, you must:

  • have linked an Australian bank account to your Elbaite Account; and/ or
  • hold or otherwise legally control a Crypto Asset wallet that enables you to send, receive and/or hold the Crypto Asset(s) that you wish to exchange on the Elbaite Platform. This may or may not be the Elbaite Vault.

When you agree to purchase Crypto Assets from a Seller for AUD on Elbaite Marketplace, you appoint and authorise Elbaite to act as your agent to credit the Purchase Price from you to the Seller.  

To complete a transaction of Crypto Assets for AUD as a Buyer, the Buyer must transfer the Transaction Total into the Client Escrow Account, within the time parameters of the Seller’s offer, e.g., within 24 hrs as per the Seller's offer.

Upon receipt of the Transaction Total in the Client Escrow Account, Elbaite will promptly alert the Seller and the Seller must transfer the purchased Crypto Assets to the Buyer’s nominated Crypto Asset wallet within 7 days of Elbaite confirming receipt of the Transaction Total and provide the blockchain transaction hash. If the Seller is exchanging Crypto Assets held in their Elbaite Vault, Elbaite will transfer the purchased Crypto Assets to the Buyer’s wallet on the Seller’s behalf upon receipt of the Transaction Total.

Upon confirming the successful transfer of crypto assets on the blockchain, Elbaite will credit the Purchase Price to the Seller’s nominated bank account or Elbaite AUD balance. If the Buyer has nominated to receive the purchased Crypto Assets in their Elbaite Vault, Elbaite will credit the Purchase Price to the Seller’s nominated bank account or Elbaite AUD balance upon receipt in the Elbaite Vault. Elbaite will not credit the Purchase Price to the Seller unless it is reasonably satisfied that the Buyer has received the purchased Crypto Assets.

Unless the Customer has nominated the Elbaite Vault as the Crypto Asset wallet from which Crypto Assets are sent or received, you acknowledge that:

  • it is the Seller’s responsibility to transfer the Crypto Asset to the Buyer’s Crypto Asset wallet using the wallet details provided;
  • it is the Buyer’s responsibility to provide accurate wallet information; and
  • Elbaite is in no way liable if the Buyer provides incorrect wallet details, or if the Seller sends Crypto Assets to another wallet in error.

All Crypto Asset purchases are final and there are no refunds or cancellations, except as otherwise provided in these Terms or as required by law. Elbaite does not have the ability to facilitate any cancellation requests, and therefore all Crypto Asset purchases are irreversible.

  1. Elbaite Swap

Elbaite Swap is provided to Customers through a third-party service provider, ChangeNow. You must agree to the ChangeNow Terms as a condition of using Elbaite Swap. If you do not agree to the ChangeNow Terms, you must not use or attempt to use Elbaite Swap.

You agree and acknowledge that, in line with the ChangeNow Terms:

  • Elbaite Swap is not atomic, which means that the send and receive functions are separated;
  • time limits apply to quoted exchange rates;
  • time limits apply to transaction initiation, meaning that you must send your agreed amount of Crypto Assets to the Buyer within the prescribed period;
  • delays in blockchain processing might affect the swap transaction, resulting in a refund or recalibration of agreed exchange rates; and
  • checks for association with criminal and terrorist activities can result in delays and/or confiscation of Crypto Assets.

When you use Elbaite Swap, ​Elbaite may receive a commission from ChangeNow in respect of completed transactions.  

  1. Elbaite QBS and AUD Balance

Elbaite QBS allows you to transact directly with Elbaite to exchange various Crypto Assets for AUD. Unlike Elbaite Marketplace, when you transact using the Elbaite QBS, Elbaite is a counterparty to the transaction. Further, transactions via the Elbaite QBS must:

  • use your Elbaite AUD Balance  to fund transactions, and to receive transaction proceeds; and
  • use the Elbaite Vault as the digital wallet from which Crypto Assets are sent and received.

When you transact with Elbaite via Elbaite QBS, you accept the offer from us to buy, and we agree to sell you, the selected Crypto Asset(s) for the advertised price (Offer Price) on and subject to these Terms. The Offer Price is determined by referencing the current market price offered by reputable Crypto Asset price aggregators, plus a premium of up to but not exceeding 10 per cent to compensate Elbaite for the risk of market volatility. The Offer Price that you accept will become the Purchase Price and will be deducted from your Elbaite AUD Balance, together with the Transaction Fee.  

We may, in our complete and sole discretion reject, refuse to accept or process, or cancel a Customer’s offer to purchase Crypto Assets, including but not limited to where you have not complied with these Terms, where we suspect fraud or if we suspect that the transaction relates to an unlawful use or purpose.  

If we cancel or do not accept a Customer’s offer to purchase Crypto Assets in relation to the Elbaite QBS, we are not required to reoffer a purchase of Crypto Assets to you at the previous Offer Price, and will return any payment of AUD received by you in connection with the transaction.  

All Crypto Asset purchases through Elbaite QBS are final and there are no refunds or cancellations, except as otherwise provided in these Terms or as required by law.  

You agree that Elbaite is not liable for, and that you will also bear the cost of any applicable taxes, costs and charges associated with the acquisition of Crypto Assets.

  1. Elbaite Buy with Card

Customers can access “Buy with Card” on the Elbaite Platform via a third-party service provider, Transak Limited (Transak).  

Elbaite’s arrangement with Transak is limited to introducing Customers to its service via the Elbaite Platform, and Elbaite is not, and does not represent that it is, responsible for Transak’s provision of services.  

Transak’s services are provided in accordance with, and subject to, the Transak Terms.

Elbaite may receive a commission from completed transactions.

  1. Customer Money/Funds

AUD deposited by a Customer into the Client Escrow Account and/or the Customer’s Elbaite AUD Balance for the purpose of purchasing Crypto Assets is held on trust for the Customer in a bank account controlled by Elbaite, unless and until such amounts are returned to the Customer, are transferred to a Seller on the Elbaite Platform or become due and payable to Elbaite in accordance with these Terms.

Elbaite will only pay AUD to a Customer’s registered bank account and upon the direction of a Customer. Third party payments will not be made.

You agree that Elbaite may receive interest on AUD held on your behalf. You agree that Elbaite will not pass on any such interest, and waive any right to receive such interest.

You agree that Elbaite may use third party banking partners and payment providers to facilitate payments, and to manage and hold Customer funds. The Customer retains a beneficial interest in AUD held on its behalf at all times.  

You acknowledge and declare that the source of your funds come from a legitimate source and are not derived from illegal activities. Elbaite maintains a stance of cooperation with law enforcement authorities globally and may be required to seize, freeze, terminate the AUD of any User in their Client Escrow Account which are flagged or investigated by legal mandate.

  1. Additional Customer responsibilities regarding Elbaite Marketplace

Customers who use Elbaite Marketplace agree as follows:

  • If a Buyer provides an incorrect wallet address or public key, and a Seller transfers the Crypto Asset to the wallet in accordance with the Buyer’s instructions, neither Elbaite nor the Seller will be considered at fault and Elbaite reserves the right to release the Purchase Price to the Seller.

  • If the Seller sends the Crypto Assets to the incorrect wallet address or public key due to the Seller’s error, the Crypto Asset will not be considered as transferred and Elbaite will not release the Purchase Price that it holds in the Client Escrow Account to the Seller.

  • If the value of the Crypto Asset sent by the Seller is less in value than what was intended by the transaction, Elbaite will request that the Seller send the balance in order for the AUD to be released to the Seller. Payment will only be released to the Seller if and when the Crypto Assets agreed to be transferred is transferred.

  • If the amount of Crypto Assets sent by the Seller to the buyer is in excess of what was agreed, Elbaite will pay (in AUD) the Seller the amount which the Buyer had agreed to pay and will request that the Buyer return the Crypto Assets which were in excess of what was agreed. You agree that Elbaite is only responsible for making the request, but otherwise has no obligation to the Seller and cannot compel a Buyer to return the Crypto Asset because it is not a party to the transaction.  

  1. AUSTRAC and AML/CTF requirements 

We are required by law to identify, mitigate and manage money laundering and terrorism financing risks.

This requires us to identify and verify the identity of customers to whom we provide designated services, which includes exchanging Crypto Assets for AUD and sending funds to third parties.

You agree to comply with all requests for information from us, and acknowledge that we may not be able to provide you with the Elbaite Services if we are not able to identify or verify you.  

User identity verification

To create an Elbaite Account, you must provide the information requested to identify and verify you, which may include your participation in biometric identification. You also authorise Elbaite to make inquiries, either directly or through third parties, for the purpose of verifying your identity.

Elbaite reserves the right not to provide you with Elbaite Services, or to limit the scope of Elbaite Services that it provides to you, if we cannot verify your identity or if you otherwise refuse or fail to provide the requested information.

  1. Limitation of liability

To the fullest extent permitted by Law, Elbaite excludes all warranties, conditions, terms, representations or undertakings that are capable of being excluded and which are not expressly set out in these Terms.  

Notwithstanding anything to the contrary in these Terms, nothing in these Terms limits, excludes or modifies any guarantees that cannot be excluded under the Australian Consumer Law.  

Subject to this clause 14, neither Elbaite nor the Customer is liable to the other for:

  • any loss of data, loss of goodwill, loss of business or for any indirect, consequential or special loss or damage, cost or expense suffered, whether or not that loss was or ought to have been contemplated; or
  • any Force Majeure Event.

We are not responsible for, and you release us from, all loss, liability, damages, claims and expenses connected with or arising from:

  • any failure of the Crypto Assets purchased via the Elbaite Platform – whether on Elbaite Marketplace or Elbaite QBS – to meet your needs, requirements or goals;
  • you being prohibited from holding or dealing with Crypto Assets by any Law or government authority;
  • any dispute, failure or delay of a Buyer or Seller that you transact with on Elbaite Marketplace to:
  • comply or act in accordance with these Terms, Elbaite’s processes, or the Law;
  • transfer Crypto Assets from the Seller’s wallet to the Buyer’s wallet;
  • transfer AUD to the Client Escrow Account; or
  • send Crypto Assets to the correct Crypto Asset wallet,

except to the extent the failure or delay is caused by any fraudulent or grossly negligent act or omission by Elbaite;  

  • any breach of these Terms by a Customer, except to the extent that such breach was caused or contributed to by Elbaite’s breach of these Terms or our fraud or gross negligence;  
  • a Crypto Asset not being available for purchase or sale via the Elbaite Platform;
  • any service disruption, including if the Customer is not able to access the Elbaite Platform or otherwise login to their Elbaite Account;
  • any fluctuation in the market price of Crypto Assets or market volatility;
  • any loss of funds caused directly or indirectly from a banking partner or payment service provider, including but not limited to the event of insolvency;  
  • the suspension, cancellation or termination of an Elbaite Account or the cessation of any or all Elbaite Services, that is required to comply with any law, rule or regulation; or
  • your use or intended use of any Crypto Assets you purchase via the Elbaite Platform, including any decision by you to transfer such Crypto Assets to any third party for any reason.  

To the maximum extent permitted by law, the maximum cumulative liability of Elbaite in any event, for any claim, damages or tort, shall be limited to the fees for the services rendered by Elbaite in relation to the applicable transaction to which the claim relates. If the claim does not relate to any transaction in particular, then Elbaite’s maximum cumulative liability shall be limited to the fees received from the Customer, as consideration or fees for the services rendered by Elbaite

  1. Indemnification

You indemnify Elbaite and its affiliates, contractors, licensors, and their respective directors, officers, employees and agents, against any claims, direct lost, cost (including legal fees, fines or penalties imposed by any regulatory authority), damage, expense or liability suffered or incurred by us as a result of:

  • a Customer’s breach or these Terms;  
  • any incorrect, false, or misleading information that you supply to us or to another Customer; and
  • any fraudulent or negligent acts or omissions by you.  
  1.  Dispute resolution - Complaints Handling

If you have a complaint relating to the use of Elbaite Services please refer to our complaints policy - https://www.elbaite.com/complaints

  1.  No warranty

Elbaite will provide access to the Elbaite Platform on an “as is” and “commercially available” condition and to the maximum extent permitted by law does not offer any form of warranty with regards to the Elbaite Platform’s reliability, stability, accuracy and completeness of the technology involved. The Elbaite Platform serves merely as a venue for transactions where general Crypto Asset information can be acquired, and Crypto Asset transactions can be conducted.

If you have a complaint relating to the use of Elbaite Services, or if you wish to lodge a claim or dispute arising out of any matter relating to these Terms, contact our compliance representative by emailing complaints@elbaite.com.au  

  1.  Disclaimer - Financial Advice

Elbaite does not provide financial product advice in relation to Crypto Assets.  

You should consider seeking independent legal, financial, taxation or other advice regarding your use of the Elbaite Platform or any other Elbaite Service.  

Elbaite is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided to you directly or indirectly, through your use of Elbaite’s website or other written material from Elbaite.  

  1.  Intellectual Property 

The Elbaite Platform and the Information contained within are protected by copyright. The Information is the property of Elbaite, or third parties that have allowed Elbaite to publish the copyrighted Information. 

The trademarks, service marks and logos of Elbaite are the property of Elbaite and its respective owners. The software, text, images, illustrations, data compilations, graphics, data, prices, trades, charts, graphs, video and audio used on the Elbaite Platform and anything additional relating to Elbaite Services belongs to Elbaite and should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. 

Elbaite grants you a non-exclusive, revocable, non-transferable licence to use the software on a server controlled by us for the sole purpose of accessing and obtaining the material on the Elbaite Platform.

  1. Suspension or cancellation

You agree that Elbaite has the right to immediately suspend your access to the Elbaite Platform and provision of Elbaite Services, or any part thereof, if:

  • we reasonably suspect that you are in breach of these Terms;
  • you no longer agree to be bound by these Terms, or act in way which repudiates these Terms;
  • we are required to do so by a Regulator or otherwise by law; or
  • as necessary to protect Elbaite’s reputation and reasonable business interests.

Upon the termination of any Elbaite Account, and subject to law, Elbaite will return funds held on behalf of the Customer in the Client Escrow Account and/or the Elbaite AUD Balance  to the Customer within 14 business days.

  1.  Customer data breach

To the maximum extent permitted by law, Elbaite will not be liable for any loss caused by you due to a data breach involving confidential information, including of your Elbaite Account details, including when such breach has occurred due to you sharing such details with third parties or due to the your failure to follow reasonable due diligence. Elbaite shall also not be liable or responsible for any disclosure by a Customer of any Elbaite Account details, including on account of a phishing attack or other third-party disruption.

  1.  Privacy and Confidentiality

Elbaite collects, holds, processes and discloses all personal information in accordance with applicable law and regulations relating to the processing, privacy, and use of personal information.

Details of the types of personal information which Elbaite collects, holds or processes are set out in Elbaite’s Privacy Policy, which can be found at https://www.elbaite.com/privacy-policy.

  1.  Method of payment

All payments to be made under these Terms must be made in AUD by the following method: EFT (Electronic Funds Transfer) to the bank account specified by Elbaite.

This clause 23 does not limit a Customer’s ability to “express buy” Crypto Assets on the Elbaite Platform using the payment methods offered by the third-party service provider that we partner with, Transak.  

  1.  Assignment

A Customer must not assign or otherwise deal with any of its rights or obligations under these Terms without the prior written consent of Elbaite.  

  1.  Amendment 

Elbaite may vary these Terms at any time and at its sole discretion in order to protect the security or integrity of the Elbaite Platform or the Elbaite Services or to comply with law or regulation. Elbaite will provide 3 days notice of any such change to current Elbaite Account holders, unless such variation is required sooner in order to reasonably protect our business interests or comply with the Law. You will also be provided with a link to the updated Terms before you place a trade via the Elbaite Platform.  

Any variation to the Terms will be effective on the date noted in the notice provided to Users. Your continued use of Elbaite Services is acceptance of the amended Terms. If you do not agree with a variation, you must cease using the Elbaite Platform and close your Elbaite Account.

  1.  Waiver

No failure to exercise or delay in exercising any right given by or under these Terms to a party constitutes a waiver and the party may still exercise that right in the future.

Waiver of any provision of these Terms or a right created under it must be in writing signed by the party giving the waiver and is only effective to the extent set out in that written waiver.

  1.  Severability

If any provision of these Terms is void, voidable by a party, unenforceable, invalid or illegal and would not be so if a word or words were omitted, then that word or those words are to be severed and if this cannot be done, the entire provision is to be severed from these Terms without affecting the validity or enforceability of the remaining provisions of these Terms. Nothing in these Terms is intended to have the effect of contracting out of any applicable Laws, except to the extent permitted by such Laws

  1.  No merger

On completion or termination of the transactions contemplated by these Terms, the rights and obligations of the parties set out in these Terms will not merge and any provision that has not been fulfilled remains in force.

  1.  Further steps

Each party agrees to promptly do all things reasonably necessary or desirable to give full effect to these Terms, including obtaining consents and signing documents.

  1.  Time of the essence

Time is of the essence in these Terms.

  1.  Entire agreement

These Terms contain the entire agreement between the parties about their subject matter and supersede all previous communications, representations or agreements between the parties on the subject matter.

  1.  Governing law and jurisdiction

These Terms are governed by the laws of Victoria, Australia.

The parties submit to the non-exclusive jurisdiction of the courts of Victoria and the Federal Court of Australia and any courts that may hear appeals from those courts about any proceedings in connection with these Terms.