These General Terms and Conditions (“GTC”) constitute the terms, procedures, and conditions governing participation in the Quick Buy for Crypto Assets program, which is organized by PT Indodax Nasional Indonesia (“INDODAX”), and forms an integral part of the INDODAX GTC.
Before purchasing any Crypto Assets using the Quick Buy feature, you are advised to read the entirety of these GTC carefully. By accessing or using the website, mobile application, software development tools, API, or any other INDODAX-related products or services governed by these Terms and Conditions, you hereby acknowledge that you have READ, UNDERSTOOD, COMPREHENDED, OBSERVED, AGREED TO, and ACCEPTED all provisions set out herein, which shall be valid and legally binding.
INDODAX reserves the right to amend and/or replace these GTC from time to time. Any revised version shall take effect from the date it is published. You are solely responsible for reviewing the GTC periodically. Your continued use of the services constitutes your acknowledgment and acceptance of any such amendments or replacements. If you do not agree to any revisions, you may not proceed with a Quick Buy transaction. INDODAX shall not be held liable for any price changes and/or fluctuations of any Crypto Asset, nor for your continued acceptance of these amended GTC.
Terms and Conditions of Quick Buy for Crypto Assets
I. DEFINITIONS
1. Quick Buy for Crypto Assets refers to a program provided by INDODAX for INDODAX Consumers/Verified Consumers, which enables the direct purchase of Crypto Assets via available payment methods.
2. INDODAX GTC refers to the General Terms and Conditions of INDODAX, accessible via the following link: link.
3. Crypto Asset means a digital representation of value that can be stored and transferred using technologies such as distributed ledger systems (e.g., blockchain), which verify transactions any price changes and/or fluctuations of any Crypto Asset, nor for your continued acceptance of these amended GTC.
4. Verification refers to the process of examining the information and personal data provided by the Consumer during the registration process, which is validated by INDODAX to enable full access to platform services.
5. Crypto Asset Price refers to the exchange rate or value of a crypto asset as displayed on the INDODAX platform, which is subject to fluctuation based on market supply and demand.
6. Conversion refers to the process of changing the value of fiat or physical currency into the form or format of Crypto Assets at the applicable exchange rate, and vice versa.
7. Order Book refers to the list of buy and sell prices for Crypto Assets available on the INDODAX Website and Application, which may be utilized by Consumers to view the current prices when buying or selling Crypto Assets. For ease of use, the Order Book is divided into two categories:
a. Buy Market – A list of purchase orders for Crypto Assets, including the amount and the price offered.
b. Sell Market – A list of Crypto Assets being offered for sale, including the amount and the ask price.
8. Crypto Asset Wallet refers to the medium used for storing Crypto Assets on the INDODAX platform.
9. IDR or Rupiah refers to the official currency of the Republic of Indonesia, which is traded against Crypto Assets on the INDODAX platform.
10. Fee refers to the charges applied to transactions conducted through Quick Buy, including but not limited to deposit fees, Crypto Asset purchase fees, exchange-related charges, and applicable taxes in accordance with regulations governing Crypto Asset purchases.
11. INDODAX Platform refers to the suite of services provided and operated by INDODAX, including but not limited to its application, website, social media.
Unless expressly stated otherwise, the definitions and/or references herein shall remain subject to the INDODAX GTC and shall carry the same meanings as ascribed thereto.
II. HOW TO USE THE QUICK BUY FEATURE
1. In order to perform a Quick Buy, your INDODAX account must have successfully completed the verification process.
2. Upon successful verification, you may access the INDODAX website or mobile application and navigate to the “Quick Buy” page by following the steps below:
a. On the “Quick Buy” page, you may input the desired purchase amount of the selected Crypto Asset, subject to the minimum and maximum limits as determined by INDODAX, either in Indonesian Rupiah (IDR) or in the available Crypto Asset denomination;
b. Once you have entered the intended purchase amount and proceed to the confirmation stage, the confirmation screen will display the transaction details for the intended Quick Buy purchase;
c. The confirmation screen will include details such as the amount of Crypto Asset to be purchased, the corresponding purchase amount in Rupiah, applicable transaction fees, and a consent checkbox for acceptance of these GTC “Quick Buy”;
d. The transaction details referenced in point care estimations and may be subject to change due to price volatility and prevailing market conditions at the time the transaction is executed;
e. If you agree to the information and terms displayed, you may proceed to the next step, where a virtual account number will be provided for the purpose of completing payment for the Quick Buy transaction;
f. The payment transaction will be processed via a third-party Payment Gateway that is integrated with INDODAX. Resolution of payment-related issues shall be handled by INDODAX within 1-3 Indonesian banking business days;
g. Upon receipt of payment by INDODAX, the system will execute the Quick Buy order at the best available price on the Sell Market Order Book for the respective Crypto Asset;
h. Upon successful completion of the transaction, the purchased Crypto Asset will be credited to your INDODAX Crypto Asset Wallet balance;
i. A successfully completed purchase transaction is final and irrevocable, and cannot be canceled under any circumstances.
3. INDODAX reserves the right to determine:
a. The minimum amount of Crypto Assets that may be purchased through the “Quick Buy” feature;
b. The list of Crypto Assets available for purchase via the “Quick Buy” feature, which currently includes USDT. INDODAX may, at its sole discretion, expand the list of available Crypto Assets for purchase through the “Quick Buy” feature in the future.
4. Your acceptance of these GTC is final and irrevocable.
III. CONSUMER REPRESENTATIONS AND WARRANTIES
1. Knowledge & Expertise. You represent that you have thoroughly read, fully understood, and agreed to the applicable Supported Network Protocols, and that you possess sufficient knowledge and expertise regarding distributed ledger/blockchain technology, accounts, keys, and the relevant network details and Supported Network Protocols.
2. Due Diligence. You represent that you have independently conducted your own thorough, positive, and diligent evaluation of the Quick Buy feature provided by INDODAX, the Supported Networks, the Crypto Assets, and all other matters considered under these GTC prior to deciding to utilize the Quick Buy feature.
3. Risk of Purchasing Crypto Assets. You acknowledge and agree that the Quick Buy feature is subject to various risks, including but not limited to liquidity risk, market risk, haircut risk, blockchain risk, and/or other operational risks, in each of the scenarios described herein.
4. No Violation of Law. You warrant that your use of the Quick Buy feature does not and will not violate any applicable laws, regulations, legal restrictions, tax obligations, or any order, judgment, or directive issued by any court or governmental authority.
5. Taxes. You shall be solely responsible for the payment of all taxes, fees, levies, or other charges that may be imposed or arise from your use of the Quick Buy feature. Neither INDODAX nor any of its employees shall provide any advice or guidance with respect to your tax obligations. You are strongly encouraged to consult with your own tax advisor regarding any potential tax consequences arising from the use of the Quick Buy feature and the purchase of any Crypto Assets.
IV. DISCLAIMER
The INDODAX Quick Buy feature is provided on an “as-is” basis, without any representations or warranties of any kind, whether express or implied, except as expressly provided in these General Terms and Conditions, and only to the extent permitted under applicable law.
The information contained in these Terms and Conditions is provided on a general basis, without obligation, and is intended solely for informational purposes. This publication does not constitute, and shall not be construed as, an offer, recommendation, solicitation, or advice to buy or sell any investment product, and it shall not be distributed, disclosed, copied, or relied upon by any party for any purpose whatsoever.
These Terms and Conditions form an integral part of the INDODAX GTC, accessible at link and shall apply mutatis mutandis.