Terms & Conditions

By using Green Pay website Green Pay or Green Pay Trading Community (collectively the “Website”) and further by registering with Green Pay and creating your account (“Account”) to use the live trade engine (“Trade Engine”) for trading in Bitcoins that Green Pay may trade in from time to time, you (“User”) are hereby agreeing to be bound by these terms and conditions (“Trading Terms and Conditions”). Green Pay reserves the right to update and change, from time to time, these Trading Terms and Conditions, and any other document without any notice to or re-acceptance from the User and any such change/updation shall be effective from the date of posting on the Website. The User’s continued use of the Website following the posting of a notice of changes to the Trading Terms and Conditions signifies that the User’s acceptance to such changes and that all subsequent transactions by the User will be subject to the amended Trading Terms and Conditions.
As used herein, Green Pay has been incorporated under the laws of India.
Green Pay provides a platform for trading in Bitcoin. The User hereby expressly agrees and warrants that:
  • The User is aware that the prices of Bitcoin are extremely volatile in nature whose prices are subject to sharp changes (Bitcoin may even become worthless) which may cause huge losses to the User. There may also be additional risks and uncertainties that have not been mentioned in these Trading Terms and Conditions. The User has sole responsibility to assess whether the User can manage the risk associated with trading in Bitcoin.
  • Green Pay has in no way induced or lured the User into opening an Account with Green Pay to trade in Bitcoin;
  • The User is legal owner of the money used to purchase and trade Bitcoin and the same has been received by the User through legal means and channels and is not in any way connected with any illegal or fraudulent activity;
  • The User is the legitimate owner and is allowed to use all Bitcoin deposited on his/her Account and that the transactions being carried out by the User do not infringe the rights of any third party or any applicable laws;
  • All information provided by the User to Green Pay including all identity and personal information as well as documents are true and accurate in all respects;
  • The User shall use the Account with Green Pay only for trading of Bitcoin;
  • The User is above 18 years of age, is of sound mind, and has the legal and mental capacity to enter into legally binding contracts with third parties;
  • The User is a resident citizen of the Republic of India; and
  • The User is aware that Green Pay may change these Trading Terms and Conditions at any time and the User hereby provides consent to any such changes.

Green Pay and its owners/affiliates are not liable for any damages caused by any performance, failure of performance, error, omission, interruption, deletion, defect, delay in transmission or operations, computer virus, communications line failure, and unauthorized access to the personal accounts or Account. Green Pay is not responsible for any technical failure or malfunction of the software or delays of any kind. Green Pay is not responsible for non-receipt of registration details or e-mails. Users shall bear all responsibility of keeping any password secure. Green Pay is not responsible for the loss or misuse of the password.
Green Pay is not responsible for the content of any of linked or external third party sites. By providing access to other web-sites, Green Pay is neither recommending nor endorsing the content available in the linked or external third party websites.
Green Pay and the User are aware that Bitcoin are as yet unregulated in India. It is not backed by any government or central bank backed currencies. Regulation in future may limit or prohibit the usage of Bitcoin in India. New legislation may also affect the operations of Green Pay, which, as a registered company in India, will comply with all relevant laws and regulation. The User understands the current legality of Bitcoin and shall not hold Green Pay liable for any proceedings against the User in any Court of law or before any governmental, administrative, regulatory, judicial or quasi-judicial authority for using the Website or Account. The usage of the Website is subject to applicable laws and is available to only those Users who are permitted to use the services of the Website as per applicable laws. The Users undertake that by using the Website, the User is permitted to do so under applicable laws.
The Users are hereby duly cautioned that while there have been no legal restrictions till date in India against trading in ‘virtual currencies’ (including in Bitcoin) Bitcoin have not been recognised or authorised as legal tender, medium for payment, as a commodity for trade, or in any form, by central bank, monetary authority, or governmental or regulatory body in India. The Reserve Bank of India (“RBI”) has currently issued three press release viz. dated December 24, 2013, February 1, 2017 and December 5, 2017 respectively, cautioning users, holders and traders against the use of, and trading in, Bitcoin and regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such Bitcoin. RBI vide press release dated February 1, 2017, has also clarified that it has not given any licence/authorisation to any entity/company to operate such schemes or deal with Bitcoin. Copies of these circulars are available on the website of RBI. Users are further cautioned that any transactions in Bitcoin through Green Pay are subject to the regulations, orders etc that may be made, passed or implemented by Indian governmental, regulatory and judicial bodies. Users shall therefore avail of the services offered by Green Pay taking into account and being fully aware of the said cautionary advice and of the regulatory and financial risks inherent in dealing with Bitcoin in any manner whatsoever.
Green Pay has drafted a Privacy Policy which is available on the Website and the User hereby specifically agrees to the terms contained in the Privacy Policy.
For the purposes of section 43A of the Information Technology Act, you agree that: (a) “reasonable security practices and procedures” means the Privacy Policy of Green Pay ; and (b) accordingly, the rules of the Government of India notified under section 43A of the Information Technology Act, 2000 are hereby excluded.
1. The User acknowledges that he is fully aware of the risks involved in online trading activities, including the risk involved due to unauthorized access or any technical difficulties. Furthermore, in a technical environment, should an error occur with respect to the tracking of any account holding or order entry, the true, actual and correct transaction or position may not be restored. It is the User’s responsibility to ensure account correctness and accuracy and to contact Green Pay immediately in respect of any discrepancies.
2. Users are advised to use the content and data on the Website for the purpose of information only and rely on their own judgment while making investment decisions. In case Green Pay gives any information on the Website, such information shall not be considered as advice of any kind and the User shall use its own judgment to make all decisions.
3. Green Pay does not make any personal recommendations. The information on our Website is provided solely to enable Users to make their own investment decisions and does not constitute a recommendation to buy, sell or otherwise deal in Bitcoin.
4. The User understand that Green Pay is only a trading platform to enable purchasing or selling of Bitcoin between Users. The value of Bitcoin may vary drastically depending on the market conditions for trading the Bitcoin.
5. The User undertakes that the prices of the Bitcoin as displayed on the Website are binding on the Users and the Users waive all their rights and claims against Green Pay in relation to any dispute with respect to the prices of the Bitcoin as determined and displayed by Green Pay.
6. The User undertakes to not dispute the methodology used by Green Pay to determine the prices of the Bitcoin. The User acknowledges and agrees that the prices of the Cyrptocurencies are extremely volatile and may vary within a matter of seconds. Green Pay is absolved from any liability on account of any loss suffered by the User while using the Website and trading in Bitcoin.
7. The price and value of investments in Bitcoin and the income derived from them can go up or down and you may not get back the capital invested. Changes in the rate of exchange may have an adverse effect on the value, price and value of your investment. Past performance is not necessarily an indicator of future performance. The services and investments in Bitcoin may have tax consequences and it is important to bear in mind that Green Pay does not provide any tax advice regarding Bitcoin and the increase or decrease in their value. The level of taxation depends on individual circumstances and such levels and bases of taxation can change. You should consult your own tax advisor in order to understand any applicable tax consequences.
8. Cryptocurrency trading has specific risks, which may not be shared with other official currencies, goods or commodities in a market. Unlike most currencies, which are supported by government reserves or other legal entities, as well as commodities such as silver and gold, Cryptocurrency is not backed by any Government authority. Cryptocurrency is only backed by mathematics, technology and trust. The currency is absolutely decentralized, which means there is no authority that can take corrective measure to protect the Cryptocurrency value in a crisis or issue more currency. When using Bitcoin, Users put their trust in the digital, decentralized and mostly anonymous system, which relies on P2P networking and cryptography to maintain its integrity. Trading in Bitcoin is susceptible to irrational or rational bubbles or absolute loss of confidence, which could collapse demand/supply. Any actions, even remotely connected to Bitcoin can crash confidence in this currency, such as unexpected changes imposed by the currency developers, a government crackdown, the creation of a superior competing Cryptocurrency alternative, or even a deflation or inflation spiral. Confidence might also collapse because of various technical problems: if the anonymity of the system can be compromised, funds lost or stolen, or in the event that hackers or governments become able to prevent Cryptocurrency transactions from settling. Green Pay shall not be liable for any loss caused to the User due to any of the risks related to trading in Bitcoin, whether currently known or unknown.
9. Bitcoin purchased using a bank account or credit card or any other deposit method may be reversed at a later time, for example, if such a payment is subject to a chargeback, reversal, claim or is otherwise invalidated. A Cryptocurrency transaction may be unconfirmed for a period of time and never complete if it is in a pending state.
10. Price and availability of products and services offered on the site are subject to change without prior notice. Green Pay may provide information about the availability of products or services to a certain extent but the Users should not rely on such information. Green Pay will not be liable for any lack of availability of products and services the User may order through the site.
1. General: The User hereby agrees and warrants that all information and particulars provided by the User has been provided voluntarily without any inducement or pressure and is true to the best of his/her knowledge and belief. In case any particulars provided by the User are incorrect or fraudulent, Green Pay shall be at liberty to terminate the User’s Account. Green Pay further reserves the right, at its sole discretion, to deny the User access to the Trade Engine or any portion thereof without notice for any reason it deems fit, including: (a) any unauthorized or illegal access or use by the User; (b) any assignment or transfer (or attempt to do the same) of any rights granted to the User under these Trading Terms and Conditions; (c) any violation of these Trading Terms and Conditions.
2. Using Google ID, Facebook ID or Twitter ID: Users may be given the option of signing in using their Google ID, Facebook ID or Twitter ID. Logging on to Green Pay with the Google ID, Facebook ID or Twitter ID gives the User the convenience of not having to remember yet another password - without compromising on privacy, or the safety of the individual email account. Green Pay does not store the User’s Google/Facebook/Twitter password information. The password of every User who chooses to log in using the Google ID/Facebook ID/Twitter ID is sent to Google/Facebook/Twitter for verification, and is not saved on our systems.
3. Single Registration: Each individual is allowed to register only once and no person is allowed to create multiple Accounts. For the sake of abundant clarity, a User who uses the Website for (a) its wallet service to store Cryptocurrencies; and (b) for the trading platform for trading in Cryptocurrencies, is also allowed to register only once and the same Account must be used for both purposes. If any User is found to be using or registered with multiple Accounts, such User’s access to the Trade Engine may be terminated. The use of scripts or any automated system to register is strictly prohibited. Green Pay assumes no responsibility for lost, late, incomplete, incorrect, or misdirected registrations. Green Pay is not responsible for technical, hardware or software malfunctions, misdirected entries, lost or unavailable network connections, or other communications or other technical problems related to the registration.
4. Know Your Customer (KYC) process: Green Pay may undertake any KYC process on the Users prior to providing access to the Users to use the Website or Account. The User undertakes to provide all information and disclosures as required by Green Pay. KYC process may require an updation from time to time and the Users may be directed to furnish additional documents to Green Pay. The Users agree that Green Pay may disclose any KYC information received from the Users to any entity if requested by any Government authority, court of law, or otherwise at the sole discretion of Green Pay.