CRYPTO FUTURES TERMS AND CONDITIONS

These Terms of Use are entered into between you, hereinafter referred to as “you” or “your” or "user" and betfury.com (hereinafter referred to as “BetFury”) as defined below. References to “you” and/or “your” and/or "user" are references to any person using, accessing, or attempting to use BetFury Crypto Futures. Please, read the terms carefully as they govern your use of BetFury Crypto Futures.

BetFury Crypto Futures are provided in partnership with the Service Provider company DIGITALRIDE SPÓŁKA Z OGRANICZONĄ ODPOWIEDZIALNOŚCIĄ incorporated under the laws of the Republic of Poland, number in the Register of Virtual Currency activities RDWW-737, dated May 4, 2023.

By assessing, using, or attempting to use BetFury Crypto Futures in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access BetFury Crypto Futures. You automatically agree to comply with these rules, General BetFury`s Terms and Conditions, and other rules and terms by using BetFury Crypto Futures.

General Provision

1.Changes to these Terms

BetFury reserves the right to change or amend these Terms at its sole discretion. BetFury will notify about such changes by updating the terms on its website and modifying the “last revised” date displayed at the end of the document. All the changes to these Terms will become effective upon publication on the website or release to users. Hence, your continued use of BetFury Crypto Futures service implies your automatic acceptance of the modified Terms.

If you do not agree to any changes to these Terms, you must refrain from using the BetFury Crypto Futures service immediately. BetFury highly recommends you frequently review these terms to ensure your understanding of the Terms that apply to your use of our BetFury Crypto Futures products.

2. Obligations and Warranties

By making use of BetFury Crypto Futures, you acknowledge, agree, and confirm that:

  • Trading can be risky and you have an understanding of how it works;

  • The value of Digital Currencies is volatile and your chosen position may cause financial loss;

  • You shall assume all risks related to trading with BetFury Crypto Futures and trading operations of digital currencies and their derivatives;

  • BetFury should not be held liable for any such risks or adverse outcomes of your trading;

  • You voluntarily use BetFury Crypto Futures and you release Betfury from any liability for damages and losses incurred by you as a result of the use of BetFury Crypto Futures;

  • You confirm your understanding that BetFury Crypto Futures is not an activity covered by our gaming license and is offered by Betfury separately from the main activity.

  • You expressly agree that you assume all risks in connection with your access and use of the services. You further expressly waive and release us from any and all liability, claims, causes of action, or damages arising from or in any way relating to your use of the BetFury Crypto Futures.

  • You represent that you are at least the age of majority in your jurisdiction and have the full right, power, and authority to enter into and comply with the terms and conditions of this Agreement on behalf of yourself.

By using the BetFury Crypto Futures you hereby undertake and guarantee to:

  • Use only ONE BetFury account;

  • Use the BetFury Account, the BetFury Platform, and the BetFury Crypto Futures in good faith;

  • Not violate or breach any terms of these Terms, and other platform documents, or any Applicable Law in any relevant jurisdiction;

  • Not commit, conduct, or perform any misrepresentation, fraud, malicious act, or criminal activities;

  • Not provide false, inaccurate, incomplete, out-of-date, or misleading information;

  • Not interfere, intercept, or expropriate our network, system, data, or information;

  • Not transmit or upload any virus or other malicious software or program, or try to gain unauthorized access to other users’ accounts, websites, networks, or systems concerning the BetFury Crypto Futures;

  • Not decompile, reverse engineer, or disassemble any of our programs, systems, or products, or in any way infringe the Intellectual Property rights and/or such of our partners;

  • Not cause or launch any programs or scripts to scrape, index, survey, or otherwise data mining any portion of any of our programs, systems, or products, or unduly not burden or not hinder the operation and/or functionality of any aspect of the BetFury Crypto Futures;

  • Keep the data required for using the BetFury Account unavailable for third parties;

  • Not to exploit any bugs, or defects found in the software for fraud and to notify BetFury of any bugs, defects, etc. found in the software;

  • Inform BetFury about any change in the information and documents submitted to BetFury, in particular in your contact details, within 1 (one) day of the change.

  • Comply with these Terms and General Betfury`s Terms and Conditions and other rules and Terms.

  • The list of obligations defined in this section is incomplete. If other obligations arise from the mechanics of using BetFury Crypto Futures or from General BetFury`s Terms or other provisions and Terms, the User is obliged to fulfill them.

3. Limitation of Liability

The BetFury Crypto Futures and any related products or services are offered on a strictly “as-is” and “where-available” basis and BetFury expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the BetFury Crypto Futures and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

You acknowledge and agree that the use of the BetFury Crypto Futures is at your own risk. To the maximum extent allowed by law, BetFury, its affiliates and subsidiaries, its licensors, and their respective employees, contractors, agents, suppliers, and vendors shall have no liability or responsibility whatsoever for any damages or loss - whether direct or indirect, consequential, incidental, punitive or otherwise - arising in connection with BetFury Crypto Futures or any data or values relating thereto, whether arising out of negligence or otherwise. Without limiting any of the foregoing, in no event shall BetFury have any liability for any lost profits or indirect, or lost digital assets, punitive, special, or consequential damages or losses, even if notified of the possibility thereof.

BetFury does not bear any responsibility in the case of loss of funds, which occurred because of illegal actions of third parties, in particular, but not exclusively in the case of hacker attacks, DDOS attacks, and other actions of third parties, which are aimed at acquiring funds.

We assume no liability or responsibility for any:(a) errors, mistakes, or inaccuracies of content and/or software, or services, proposed by BetFury;(b) interruption or cessation of function related to the software and BetFury Crypto Futures services;(c) bugs, viruses, trojan horses, or the like that may be transmitted to or through the website;(d) errors or omissions in, or loss or damage incurred as a result of the use of any services from the BetFury website.

3.1 BETA TESTING

During the beta testing period of BetFury Crypto Futures, certain restrictions may apply and the software will be updated.

Therefore, you agree and accept that the BetFury Crypto Futures product may work incorrectly and with errors during the beta testing period. Also, during this period, BetFury reserves the right to change the conditions and rules of trading, forcibly and prematurely liquidate the user's positions, cancel some trading profits, and refuse to pay trading profits.

During beta testing, the user has no right to complain about defects, to demand any refunds due to the liquidation of the position, or in any other case. You also release BetFury from any liability for the loss of Your funds as a result of bugs, or defects in the BetFury Crypto Futures product.

You confirm that you understand that beta testing is not a full release, and therefore the product, its visual expression, operation logic, and mathematical formulas may be changed during testing.

During the beta testing period, you can provide suggestions, comments, or ideas and report issues or problems related to your use of the Beta BetFury Crypto Futures. You agree not to disclose feedback to any third party and you assign to us all rights, title, and interest in and to any feedback, without any right to compensation or other obligation from us or, if such assignment is not permitted by law, you grant to us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide, perpetual license to use all feedback.

4. Taxation

The User shall be responsible for payment of all applicable taxes, if any, to which the Trading Profit might be subject and any and all other taxes that may apply to the User. BetFury makes no representations in this regard. The User agrees to indemnify and hold BetFury harmless against any taxes, including penalties, duties, and interest levied by any government on the Trading Profit.

BetFury shall not be required to compensate you for your tax obligations or advise you about your tax issues. The uncertainty in tax legislation relating to Digital Assets may expose you to any currently unknown or future tax consequences, associated with your holding of Digital Assets, crypto trading, trading profit, and the use of Betfury Crypto Futures, for which BetFury shall not be liable. You shall hold BetFury harmless from any expenses and losses, resulting from the above uncertainty.

5. Trading conditions

You can get detailed information about how BetFury Сrypto Futures works in the section HOW IT WORKS by opening the BetFury Crypto Futures section on the platform.

Formulas for rate calculations and other financial information are located in the TRADING PRICE FORMULATION by opening the BetFury Crypto Futures section on the platform.

Betfury reserves the right to forcefully close your position, refuse payment, and confiscate trading profits in case of:

  • Abnormal volatility in the market, which at BetFury's sole decision does not allow predicting market indicators.

  • We suspect that you are misleading the system, using insider information, using multiple accounts, or otherwise abusing our platform.

  • We suspect that you have found a defect in the software and are using it for your purposes.

  • You use funds received by you as a result of money laundering, terrorist financing, fraud, or any other illegal or criminal activity under any Law in the respective jurisdiction

  • In any other case, when you violate these rules or perform illegal actions.

In the above cases, at the decision of BetFury, your position will be forcefully closed, the account will be blocked, and the funds will be confiscated along with the trading reward.

BetFury reserves the right, without explaining the reason, to ask you for confirmation of the origin of the funds that you have topped up or will top up into your BetFury account, or the funds, that you have used or will use for the purchase of the Digital Assets to be topped up into your BetFury account. BetFury reserves the right to freeze your funds until you confirm the origin of these funds.

6. Restriction

You represent that you are not (a) the subject of economic or trade sanctions administered or enforced by of United Nations, European Union, and United States of America or otherwise designated on any list of prohibited or restricted parties by any governmental authority or (b) a citizen, resident, or organized from the country or territory which is a subject of economic or trade sanctions enforced by of United Nations, European Union, and United States of America.

You are not permitted to access or use BetFury Crypto Futures in any jurisdiction or country if it would be contrary to the law or regulation of that jurisdiction or if it would subject us to the laws of, or any registration requirement with, such jurisdiction. We reserve the right to limit the availability of Betfury to any person, geographic area, or jurisdiction at any time and our sole discretion.

Access to BetFury Crypto Futures is prohibited to wallets and persons who are citizens and/or residents of the United States of America. Access to BetFury Crypto Futures is prohibited to wallets and persons located in, established in, or a resident of Belarus, Myanmar (Burma), Côte D'Ivoire (Ivory Coast), Cuba, Crimea and Sevastopol, the so-called Donetsk People’s Republic, Democratic Republic of Congo, Iran, Iraq, Gaza, Libya, the so-called Luhansk People’s Republic, Mali, Nicaragua, Democratic People’s Republic of Korea (North Korea), Russia, Somalia, Sudan, Syria, Yemen, Zimbabwe. The use of software to change the IP address by citizens or residents of the countries defined in this clause will be considered a gross violation of these Terms and will give BetFury the right to confiscate the deposited funds and block access to such a person. Confiscated funds may be returned subject to confirmation of the legality of the origin of such funds and full-person verification.

YOU ARE RESPONSIBLE FOR DETERMINING WHETHER THE USE OF THE BETFURY CRYPTO FUTURES IS LEGAL IN YOUR JURISDICTION AND YOU SHALL NOT USE IT SHOULD SUCH USE BE ILLEGAL IN YOUR JURISDICTION. IF YOU ARE UNCERTAIN, PLEASE SEEK INDEPENDENT LEGAL ADVICE.

7. Suspension and Termination

BetFury reserves the right to restrict and suspend access to BetFury Crypto Futures and Betfury accounts where:

  • You refuse to go through KYC or refuse to confirm the origin of funds. This also applies to the case when the user delays or evades the performance of the actions specified in this clause.

  • For the period of checking of your account by the risk department.

  • During the period of abnormal volatility in the market.

  • In other cases, according to the decision of the risk department.

BetFury reserves the right to terminate access to BetFury Crypto Futures and Betfury account without notice where:

  • We reasonably suspect that you or your BetFury Account and/or BetFury Crypto Futures and/or money on it is or has been associated with, or poses a high risk of, money laundering, financing of terrorism, fraud, or any other financial crime;

  • Your BetFury Account and/or BetFury Crypto Futures is the subject of any legal, regulatory, or government process and/or we, in our sole discretion, consider there to be a heightened risk of legal or regulatory non-compliance;

  • You abuse our platform;

  • In the case of causing BetFury financial loss through fraud, abuse, hacking or in any other illegal way.

  • In case of damage to the reputation of Betfury by spreading false information.

8. FuryWaves

FuryWaves is a trading tool that is part of BetFury Futures which is built by a randomizer based on the SHA-256.

By using FuryWaves, you confirm that you understand that futures trading, like the use of financial instruments, is risky and may result in the loss of monetary assets. Therefore, by using FuryWaves, you confirm that you fully understand the consequences of your actions and bear sole responsibility for any consequences of your use of FuryWaves.You confirm your understanding of how the FuryWaves work and release us from any responsibility for your actions that led to the loss of funds, even if they were committed by mistake.

FuryWaves working with the next rules:

  • Each new session starts at $1000.

  • At the end of each session, all open positions are closed at the current PNL.

  • A trading session lasts 24 hours.

  • Each trading session ends and starts a new one at 00:00 UTC.

  • Each session has 172,800 ticks, but this current may be less.

  • Tick every 500 milliseconds.

  • Volatility per tick can reach 1% The commission fee is 5% from all profit positions.

  • The maximum win per bet is limited to $20,000 equivalent to any cryptocurrency. If your winnings are more than the equivalent of US$20,000, we are only entitled to pay you US$20,000 and the rest will be forfeited.

In FuryWaves, the average House Edge is established at 2.5%. This figure was derived from an analysis of the operation of our pricing algorithm and is considered an approximate indicator. While the average House Edge is maintained at 2.5%, it is crucial to acknowledge that this metric may vary for individual users. The diversity of gaming scenarios and strategies may lead to instances where the House Edge experienced by a specific player may be higher or lower over short periods. However, on the whole, it will approximate the aforementioned value.

BetFury does not directly influence this indicator; it is automatically calculated by the algorithm as a result of numerous factors. Therefore, BetFury assumes no responsibility in cases where the house edge for a specific user differs from the value stated in this section.

You confirm your understanding and agree that in the case of using a large leverage (x100 or more) your position may be liquidated immediately, depending on the price of the next tick.

You confirm your understanding that forbidden to use any third-party software and bots that make your winnings unfair and give you an advantage, including software that looks for and exploits bugs and loopholes in the BetFury system.If the use of such software is detected, your account will be permanently blocked and all winnings will be confiscated.

We reserve the right at any time without prior notice to stop trading and close all open positions at any time or disable the trading pair altogether.

The FuryWaves and any related products or services are offered on a strictly “as-is” and “where-available” basis and BetFury expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, the FuryWaves and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.

9. Final provision

This document may have been translated and published in different languages. In the event of any inconsistency, misstatements, omissions, or errors appearing in any translated version, the English version shall prevail.

While we will do everything we can to provide continuous operations, BetFury does not provide any warranty or guarantee about the availability of the BetFury Crypto Futures Without limiting the generality of the foregoing, we do not guarantee continuous access to the BetFury or the BetFury Crypto Futures, and make no representation that the BetFury and/or the BetFury Crypto Futures offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.

You confirm that you are familiar with these Terms and that you fully understand them. These Terms are mandatory for everyone using the BetFury Crypto Futures service. By using it, you accept these Terms and undertake to comply with them. These Terms are binding on all users, without exception. By using BetFury Crypto Futures, you automatically agree to these Terms and undertake to comply with them.

This Document, together with the General BetFury`s Terms and Conditions, the Privacy Policy and other BetFury platform`s rules, represents the entire agreement between you and Betfury in relation to the use of the BetFury Crypto Futures.

PreviousCRYPTO SWAPNextTERMS AND CONDITIONS

Last updated