Baltex ("Baltex," "we," "us") provides non-custodial cryptocurrency exchange services. By accessing or using our website, widgets, APIs, or applications (the "Service"), you agree to these Terms of Service (the "Terms"). We may modify these Terms at our discretion; changes take effect upon posting on our site. Continued use constitutes acceptance.
You represent and warrant that you are at least 18 years old (or the age of majority where you reside), have legal capacity, and will comply with applicable laws and regulations. You may not use the Service for money laundering, terrorist financing, fraud, sanctions evasion, market manipulation, ransomware, darknet activity, or to conceal illicit origin of funds. Availability may be restricted where cryptocurrency activity is prohibited or limited by law.
Baltex maintains a risk-based Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance program designed to help prevent illicit finance while respecting user privacy and applicable law.
We apply controls proportionate to risk, consistent with widely recognized standards (e.g., risk assessment, screening, monitoring, recordkeeping, and reporting where required by law). Controls may be adjusted over time based on regulatory changes, typologies, and operational risk.
Identity verification (KYC) and/or enhanced due diligence (EDD) may be required when:
Where verification is required, we may request: full name, date of birth, address, government-issued ID, selfie/liveness, proof of address, source-of-funds documentation, and any other information reasonably necessary to complete checks. We may request re-verification on a periodic or event-driven basis.
Transactions and wallet addresses may be screened using blockchain analytics, sanctions and watchlist screening, behavioral monitoring, and other risk-detection tools. Screening can occur pre-transaction, during processing, and post-transaction for ongoing risk management.
We do not provide the Service to persons or entities subject to applicable sanctions or located in prohibited jurisdictions. We may restrict or deny access in our discretion to manage PEP exposure, high-risk geographies, or other compliance concerns.
If a transaction is flagged, we may pause, hold, or cancel it while we request information or conduct a review. We may retain funds as necessary to comply with law, to complete our investigation, to prevent suspected illicit activity, or to follow lawful instructions from competent authorities.
If you decline required verification or fail to provide satisfactory information, we may deny the exchange and retain an operational fee of up to 10% of the transaction amount before remitting any remaining balance (if remittance is lawful and technically feasible). We may withhold any refund for the duration of an investigation or as required by law.
Where a flagged transaction is cancelled after review and a return is lawful and technically feasible, funds may be returned to the original address minus network/processing fees and any applicable operational fee. Recovery of unsupported assets, assets sent on the wrong chain, or assets sent below minimums is not guaranteed.
If verification occurs, related records may be retained for the periods required by applicable law and internal policy. We retain only what is necessary for compliance, audit, fraud prevention, and security.
We may cooperate with lawful requests from competent authorities and may file reports where required by law. We may notify users of such requests where legally permitted and appropriate.
We may update AML/KYC controls and procedures without notice to reflect changes in law, risk typologies, or operational needs. Material changes to how your personal data is processed will be reflected in our Privacy Policy.
You must fund the deposit address within the specified timeframe. Late funding may result in cancellation or adjusted terms.
We may decline, refund, or impose fees on non-compliant transactions without prior notice and adjust terms (e.g., rates, limits) based on market or network conditions. You are solely responsible for verifying all transaction details before sending funds.
If you fail to include a required identifier (e.g., memo, destination tag), refunds (if feasible) are processed only for amounts above $50 and may incur a $50 processing fee plus network fees. Refunds related to other user errors (e.g., wrong chain or address) may incur the same fees.
The Service is provided "AS IS" and "AS AVAILABLE." To the fullest extent permitted by law, Baltex is not liable for indirect, incidental, special, consequential, exemplary, or punitive damages; loss of profits, data, use, or goodwill; or the cost of substitute services. Baltex is not responsible for issues arising from blockchain networks, market conditions, system outages, or events beyond our control.
We may suspend or terminate access without notice for violations of these Terms, suspected illicit activity, security concerns, failure to complete verification, or as required by law.
These Terms are governed by the laws of Costa Rica, without regard to conflict-of-law principles. Venue and forum shall be the competent courts of Costa Rica unless mandatory law provides otherwise.
We collect and process data as described in our Privacy Policy to operate the Service, meet compliance obligations, prevent fraud, and improve user safety.
Refunds due to system errors or unfulfilled transactions are processed within a reasonable period. Refunds related to user errors are subject to the fees described in Section 5 and applicable network charges.
All intellectual property in the Service (including software, code, content, designs, and branding) is owned by Baltex or its licensors. We grant you a limited, revocable, non-exclusive, non-transferable license to use the Service as intended.
Each transaction is assigned a unique deposit address. You must send the exact asset, chain, and amount within the time shown. Recovery of mis-sent funds (if possible) may incur fees and is not guaranteed. Completion times depend on blockchain confirmations and any required compliance checks.
You agree to indemnify and hold harmless Baltex, its affiliates, and personnel from claims, losses, damages, liabilities, and expenses arising from your use of the Service or breach of these Terms.
We are not liable for failures or delays caused by events beyond our reasonable control, including natural disasters, acts of government, regulatory changes, network attacks, protocol failures, widespread outages, or other force majeure events.
Digital assets carry risks including extreme volatility, regulatory uncertainty, technological defects, irreversible transactions, and potential loss of value. You assume all risks associated with your use of the Service.