Incryptous Review
Incryptous.com is an easy to use simple and secure platform for buying and selling cryptocurrencies such as Bitcoin and Ethereum. In the website you can see 2 easy to use options, which are: Buy cryptocurrencies and sell your cryptocurrencies.
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| Incryptous BUYING RATES |
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| Incryptous SELLING RATES |
Incryptous is a leading platform for cryptocurrency exchange. The site boasts of being well-connected with bitcoin miners and other leading exchange platforms, assuring its users of being their first step into the cryptocurrency world. It is owned and operated by ROCK EUROPE OÜ. The site is headquartered in Potsdamer Strasse 180, Berlin 10783, Germany.
Users on this platform can either buy or sell bitcoins at attractive rates. Incryptous has partnered with shapeshift.io for the sole reason of providing superior trading. This has enabled the platform to offer its users access to over 20 cryptocurrencies. The site goes a notch higher to offer their high volume traders with an extra trading room.
Registration
Before using Incryptous, users first of all need to register, with their email address and a password to acquire an account. Upon confirmation, the users are urged to upload proof of identities such as a passport or ID, as well as proof of address, such as utility bill or an invoice that is older than three months, bearing the user’s full name. Users are only required to register one account with the trading platform. Opening more than one account is prohibited, and the platform may have to suspend the rest of the accounts at their discretion. Also, the platform at its discretion has the right to allow or deny users from establishing an account with them.
More often, the platform may ask clients to provide additional information to continue using its services. Clients authorized by the platform, through third parties, seeking to convert their local currencies into cryptocurrencies or vice-versa, the platform may make any demands that they consider necessary to validate the user’s identity. Here they may have to request for the information about the client. The date of birth, physical address, email address, identification number, tax identification number and your bank information such as account type and number, the financial institution will be required. The information is necessary so that Incryptous can confirm the user’s identity and help the user to benefit from additional platform services.
At times, the platform may ask one to answer specific questions as a measure to verify your identity as well as being in compliance with the law. Incryptous also urges its users to transmit accurate, sensitive information if they want to change any basic information about their account.
Incryptous from time to time requires users who use credit or debit cards to buy cryptocurrencies verify that they own the card and the account as a security measure. And if you close your Incryptous account, the platform reserves the right to keep your registration information for regulatory purposes and also to be in compliance with the business rules.
Terms and Conditions of Using the Platform
Users of this platform, https://incryptous.com/ buys and sells cryptocurrencies. Upon trading, Incryptous sends the exchange rate when the amount transacted arrives at the Incryptous bank account. In the wake of a high volatility in the market when the price or rate changes by over 1.00% between the initial price launch and the settlement, the platform reserves the right to settle the trade in cryptocurrency despite the value, at the best available price when the money is available in the platform’s bank account. Trade is completed in the platforms work program which is weekdays except for holidays. At times during high volatility, a customer may incur recalculation of the buying price when the platform has the possibilities of buying and delivering the cryptocurrency to the user.
Purchasing crypto without first transferring the funds is prohibited and can lead to their account with Incryptous being suspended. Incryptous never accepts cash deposits at the bank, and clients are only allowed to transfer funds from a bank account to the platform’s listed bank accounts for specific currencies. It takes anything from 5 minutes to five working days for the transaction to be approved. This, however, depends on the availability of the user’s funds in the platform, the purchase value, account history and market volatility. A transaction confirmation by the cryptocurrency may vary depending on the network’s fluidity or on the congestion of the transaction. It’s only upon the platform’s confirmation that the cryptocoins purchase can be sent back.
Upon What Circumstances that an Incryptous account can be suspended?
Incryptous reserves the right to open or suspend an account or dictates the services that the account can access. These actions can happen due to account dormancy, failing to respond to requests by the customer support, spam or upon breaching the terms and conditions set by the platform. Your account can as well be terminated when there is a court order instructing the same, there is reasonable evidence that you are using the Incryptous account to promote illegal activities, you have several accounts with the platform, or you abuse promotions provided by the platform.
If at the time of account suspension there is an unsettled trade, the user will still recover their funds. However, you may not recover the funds if there is a court order that prohibits this. The platform reserves the right to allow the user to withdraw the funds from a suspended account from an already known bank, or you may send the funds to a known external cryptocoin address. However, Incryptous has the right to ask for further identification information before they process such funds from a suspended account. They reserve the right also to prohibit or delay these agreements especially if there is substantial proof that your account was involved in fraudulent or illegal activities.
Users who are unable to connect to their Incryptous account are required to contact assistance services to process the above agreements. One can terminate Incryptous agreements as they please when they cease to use the services offered by the platform. When your account with Incryptous is terminated, you remain liable to all the transactions you made while your account was opened.
The Government Law and Your Responsibility
For one to use Incryptous services, they first need to have read and agreed to the terms and conditions stated in the website. The laws of Estonia govern the terms and conditions without the regards to the conflicts of the law provisions. The user also agrees to the personal and exclusive jurisdiction of Tallinn, Estonia courts and waives possible objections to the authority or venue. In the same vein, the cardholder right to use specific Incryptous services may be illegal in some jurisdictions. Therefore it falls upon the user to determine whether some services are compliant with their country’s laws and demonstrate to the platform that indeed the services are not illegal. Demonstrate that the statues and regulations, regarding Incryptous and the services, are compliant with the user’s country laws.
Email
Incryptous understands that emails sent over the internet may not be secure and therefore it distances itself from any damage caused by their transmission. The platform suggests that if a user wants to send them an email, they should encrypt them. The encrypted email variation should be in PGP format.
Withdrawing From a Trade
Users on the platform have legal rights to withdraw from a trade, buy or sell cryptocurrency as cryptocurrency prices fluctuated depending on the financial markets. Price fluctuation is beyond the platform’s control.
Taxes
It is upon the user to determine whether or to what capacity a charge applies to a cryptocurrency transaction performed on the platform. It is upon them also to decide whether to withhold or collect, to report or remit taxes to the ideal tax authorities.
Complaints and Dispute Policies
Upon registration of an account with Incryptous, one provides certain identification information. Therefore, one is responsible for the security of their account login information. You will be responsible for any damages incurred due to the omissions from the improper or illegal use of the account. Upon registration also, one agrees to provide accurate and complete information about themselves and also agrees not to impersonate another person.
In case of a commercial entity, one declares that they have the requisite authority that binds their entity to the Incryptous agreement. Therefore, the platform will treat the information that their clients provide according to the disclosure of the information supplied in the registration process and the privacy policy. The cryptocurrency platform also maintains an effective and transparent procedure for reasonable and prompt complaint handling for their potential retail users. They also keep the record of claims and the measures taken to solve those complaints. This helps to ensure that there is a fair and consistent dealing with its client’s complaints and also assists in providing topnotch customer service.
For dispute policy, the parties involved in a dispute will try in good faith to settle the conflict that arises out of the agreement. If the parties fail to reach an agreement either side may need to submit a dispute for confidential arbitration proceedings, by an arbitrator under the ICC ADR Rules. The decision reached will be both final and abiding. The proceedings of the arbitration will be conducted in English, and in London UK or an agreed venue by the conflicting parties.
Frequently Asked Questions
Since the site is always under high traffic, it may be challenging to answer individual user questions, but it tries as much to address issues raised by users. On their frequently asked question page, the platform tries to address common questions that their clients may have or want to know.
Q: Can one pay using their credit card?
A: No, not at the moment, however in future one would do that as the platform is anticipating further updates.
Q: Can one pay using wire transfer?
A: At the moment one cannot pay with a wire transfer, however, upon updates this could be possible.
Q: Which cryptocurrencies are currently available?
A: At the moment, the platform deals with only bitcoins.
Q How is the exchange rate determined?
A: It is the average rate of the exchanges and the miners that the platform is working to offer their clients the best buying and selling rates.
Q: When is the exchange rate is determined?
A: The platform determines the exchange rate when it receives funds and handles an order.
Q: The exchange fee?
A: Currently the site’s exchange fee is set at 4.7% inclusive of VAT.
Q: Can one receive the cryptocurrency immediately after payment?
A: No, not at the moment.
Q: How long can a customer wait before receiving the cryptocurrency into their wallet?
A: At most five days.
Q: Why five days?
A: Since the market is in great traits banks ask for details of each transfer, therefore it is difficult to withdraw the funds from the stock exchanges.
Q: Is it possible to cancel an order?
A: Yes, however, one can only cancel the order before payment as after making the payment, the platform does not have the option to cancel the order.
Q: Can one buy cryptocurrencies without having to upload their ID?
A: No. One must first upload their verification documents before buying crypto.
Q: Why must the user sign the Know Your Customer (KYC) document?
A: The law requires that one signs the KYC document when they purchase a certain amount. The platform is strict as it asks for the KYC in every purchase.
Limitation of Liability
To the extents allowed by the law, the platform is not liable for any injuries/damages, profit loss opportunities, data, or direct or indirect losses. They may be liable only when the damage is as a result of imprudence or purposeful misinformation or fraud.
Incryptous contacts
Incryptous is open to answer or address any issues that their customers may have about the terms and conditions or overall services provided by the platform. They have a working email address, support@incryptous.com which users can use to send their questions and comments. They also have a cell phone number in case the user prefers a one-on-one conversation, +4969509527847. Alternatively, Incryptous has a contact us segment in their About US page, where concerned users can send their message. You will be required to input your full name, email address and phone number to send your message.