Regulations - Terms of Use - Protection of Privacy Policy


  1. Use of the site is subject to the conditions specified hereinafter in these terms of use regulations (hereinafter: "the terms of use"; "the regulations"), and constitutes express agreement to those conditions.
  2. Anything stated in these terms of use in the masculine gender is for the sake of convenience only and it relates equally to both men and women. Anything stated in the singular in these terms of use is for the sake of convenience only and shall be deemed to include its plural form, and vice versa.
  3. The terms of use regulate the relationship between Stefot Technologies Ltd (hereinafter: "the Company") which operates the site, and any person using the site and/or information which was obtained through the site and/or any image which is connected to the site (hereinafter: "the user").
  4. The purpose of the site is for it to serve as the Company's home page and to enable contracts to be entered into between the Company's customers for the purchase and sale of virtual currencies. The Company may change the purpose of the site at any time.
  5. By using the site, the user shall be deemed to have declared that he has read, understood and agrees with the site's terms of use and that he undertakes to act in accordance with them. A user who does not agree to any of the terms of use may not make use of the site.
  6. A user who does not give an express, written notice of his agreement to the terms of use may not use the site and/or any part of it and/or any information which he obtained through the site.
  7. The Company may, in its sole discretion, change these regulations at any time, without giving any notice thereof beyond altering the site and anyone wishing to use the site is obliged to check the terms of use before doing so. The binding and determining version of the terms of use is the version published on the site on the date of the relevant use.
  8. These terms of use apply in addition to any other condition and/or instruction which shall be published on the site, and the use of certain parts of the site may be subject to additional rules which shall appear in those parts.
  9. It is hereby clarified that the masculine gender is used in these regulations for the sake of convenience only and that they are intended to apply to both sexes respectively.  
  10. The competent court in Tel Aviv-Yafo shall have exclusive jurisdiction to adjudicate any question concerning the interpretation, application and enforcement of these regulations and any dispute connected to this site, and it shall do so in accordance with the laws of the State of Israel.

The Company's rights

  1. The Company reserves its right to make such changes to the site's content, information and services as it shall in its sole discretion see fit, without having to give prior notice, and it shall not be liable towards the user or towards any third party for any damage should the service be terminated.
  2. The Company prohibits the use of the site for the purpose of publishing information in violation of the provisions of any law. Any party who nevertheless does so, and not the Company, shall be exclusively accountable for the publication of such information.
  3. Without derogating from any other reliefs which it has at its disposal by law, the Company shall be entitled to prevent the user from making full and/or partial use of the site and/or to take such other and/or additional steps as it shall in its sole discretion see fit and without having to obtain the user's consent and/or to give the user prior notice, and without the user making any claim in the matter against the Company.
  4. Registration for the site by the user shall constitute approval and agreement to be included in the list of the site's and the Company's customers and to receive direct mail from the Company. The user may at any time ask for his details to be removed from the site's and the Company's list and cancel the direct mail to him and the Company shall act to remove him from its mailing list within a reasonable time. For the avoidance of doubt, it is clarified that in such a case the Company may delete the user's account.


Use of the site

  1. The site shall only be used by a legally competent adult (a person aged 18 years or older) who holds an Israeli identity card or by a registered corporation which has an address in Israel. Should, notwithstanding the foregoing, a transaction be entered into by a minor of a type which minors of his age habitually engage in and/or with the consent of his guardian, the Company may in its sole discretion decide to honor or cancel the transaction.
  2. When registering for the site, the user must give the Company identifying details which shall be used, inter alia, for the purpose of contracting with him and complying with the provisions of the Prohibition on Money Laundering Law and he undertakes that the details which he shall give are accurate. When entering into a transaction through the site, the user may be required to give additional information, including for the purpose of compliance with the provisions of the Prohibition on Money Laundering Law. The failure to give details or the giving of inaccurate details may result in the transaction not being approved or implemented.
  3. The primary and principal use of the site shall be as described hereinafter. As has been clarified above, the use is subject to change at any time and some of the options may be temporarily or permanently unavailable, in accordance with the Company's discretion.
  4. The user may enter into a purchase ("purchaser") or a sale ("seller") transaction with another user through the site's bulletin board. A sale or purchase advertisement may be placed for the quoted rate or a fixed rate, for a fixed price or one chosen from a range of options.
  5. The precise sum being transferred at the time of implementing the transaction may be slightly different from the sum which is specified on the bulletin board due to the addition of transaction verification and monitoring costs. Nonpayment of the precise sum as shown on the site may cause the transaction to be delayed or even cancelled. In such a case the user shall be charged a fee of [$25] to cover the cost of dealing with the matter.
  6. Should a transaction be cancelled a fee shall be collected from the seller and the purchaser as shall be shown to them on the site. The amount of the fee is inclusive of VAT.
  7. The transaction shall be entered into at the user's direct request in accordance with the advertisement published on the bulletin board. The offer shall be referred to the advertiser who may accept it within the period of time that shall be allocated to him by the site. The advertiser is not obliged to accept the offer which shall lapse when the specified time expires. The offer is not exclusive and a number of offers may be forwarded to the advertiser contemporaneously.
  8. Should the advertiser accept the offer, then the seller and purchaser shall be obliged to enter into the transaction upon the terms which were presented to them by the site, including those relating to payment of the precise sums and fees, the identification details and any other relevant requirement. Any action which deviates from the precise instructions may result in non-implementation of the transaction and damage to the rating of the site's users.
  9. It should be noted that non-implementation of a transaction shall not in any event constitute a breach of contract, but may only manifest itself within the framework of the site users' rating. The Company is not and shall not be a party to a transaction between the users, notwithstanding its definition as a financial asset operator, and it acts exclusively as the parties' trustee. Non-implementation of a transaction shall not constitute grounds for one user to sue his counterpart and implementation of a transaction cannot be forced upon a user in any way. The Company shall not be obliged to give any details to a user regarding any transaction which was carried out or not carried out.
  10. After receiving the offer the purchaser shall contact one of the braches of the company GMT Global Money Transfers Ltd ("GMT" and "the Branch" as the case may be), which are published on the site from time to time. Within 2 business days from the date on which the transaction was entered into on the site or within such other period as the Company shall specify, the purchaser shall be obliged to report to the Branch and identify himself by 2 identity cards in accordance with the provisions of the Prohibition on Money Laundering Law, give the transaction code and pay the consideration and the commission. Performance of the transaction shall be conditional upon the purchaser handing over and presenting any additional document requested by the Branch and/or GMT Ltd. Should the purchaser not show up and/or fail to make the payment by the specified date then the transaction shall expire. On the date on which the transaction is implemented, the purchaser must verify that the address of the electronic wallet for transferring the virtual currency is correct, since the transfer cannot be cancelled, and the purchaser shall be exclusively responsible if as a result of giving an incorrect wallet address the currency was transferred to an unknown and unidentified third party, which does not constitute grounds to halt the transaction.
  11. Once payment has been made by the purchaser, the seller shall receive a notice instructing him to transfer the currency to the wallet address which was given by the purchaser within 48 hours [2 business days] or within such other period as the Company shall specify. The currency may not be transferred after the specified deadline and should such a transfer be made it may result in the money being returned to the purchaser, without the seller being able to cancel the transfer. The seller shall bear sole responsibility in such a case and the Company and/or the Branch and/or GMT shall not be held liable for the consequences of a late transfer as aforesaid.
  12. Upon confirmation of the currency transfer when the transaction has progressed to a certain point as shall be determined by the Company, the seller may report to one of GMT's branches. Upon his arrival at the Branch the seller must identify himself by 2 identity cards in accordance with the provisions of the Prohibition on Money Laundering Law, and subject to giving the transaction code and the Company's approval, he shall receive the net consideration, after deduction of the commission which was agreed upon between the seller and the Company before the transaction was carried out. The seller shall submit and hand over any additional document should he be required to do so by the Branch and/or GMT Ltd as a condition for undertaking the transaction.
  13. The GMT Branch shall not be approached until the Company has confirmed that the currency has been fully transferred to the requisite extent. The seller is recommended to set a high transfer commission for the currency in order to ensure that implementation of the transaction is expedited.
  14. Since the Company is working with both parties in a fiduciary capacity, and despite the fact that the Company is not itself a party to the transaction, the transaction may be carried out with the Company's endorsement only, and it may in its sole discretion cancel it at any stage and at any given moment, without having to give any reason for its decision.
  15. The users carrying out the transaction are subject to the laws of the State of Israel, including the provisions of the Income Tax Ordinance, the Prohibition on Money Laundering Law and the Orders which were enacted pursuant thereto, and they confirm that they are and shall be acting in compliance with every law concerning the transaction and its consequences.
  16. Without derogating from the foregoing, it is clarified that GMT Ltd and its Branches are not and shall not be accountable to any extent towards the users for implementation of the transaction. Moreover, since in providing its services, GMT Ltd and its Branches must comply with the provisions of the Prohibition on Money Laundering Law and the Control of Financial Services (Regulated Financial Services) Law, GMT and/or its Branches may refuse a request to transfer monies and/or collect the consideration and/or provide the consideration without giving a reason for that refusal. In addition, it is clarified that since GMT operates through Branches/independent sub-agents, the sub-agents may also refuse to provide the services for business reasons and the users shall not make any claim and/or demand with respect to that refusal.
  17. Users shall be contacted through notices on the site and/or email and/or text messages. The determining notices are those on the site only and the user must check the site frequently when entering into transactions. Other notices, such as those sent in email or text messages may not be exclusively relied upon.
  18. Users of the site shall receive a rating based upon the opinion of the other users and such additional data as the Company shall decide upon. The rating, which the Company shall give in its sole discretion, is peremptory. Upon the completion of each transaction or on such other date as the Company shall decide upon, the user may rate other users. The Company may divulge users' ratings publicly on the site and to each user who is interested in entering into a transaction with another user.

Changes to the site

  1. The Company may from time to time and in its sole discretion, alter the structure of the site and the services and/or the products which are presented in it, or even discontinue them, without having to give any prior notice and/or to obtain the user's consent.
  2. The user shall not make any complaint and/or claim and/or demand with regard to these changes, nor with regard to their coincidental and/or resultant disruptions and/or difficulties and/or malfunctions.   
  3. The Company does not undertake that the services on the site shall be provided systematically, continuously and flawlessly and it shall not bear any responsibility and/or liability for defects and/or disruptions to and/or malfunctions and/or stoppages of the site and/or the Internet for any reason.
  4. The Company does not undertake to save backups for the site and/or any information published on it, and it may delete information from the site, without having to give any prior notice and/or obtain the user's consent.


  1. The site is offered "AS IS" for personal use only and at the user's sole risk. The Company bears no responsibility for the compatibility of the site and the products offered on it with the user's needs.
  2. The Company and/or anyone acting under its authority and/or on its behalf, including its employees, shareholders, managers, representatives, agents, owners, related and affiliated corporations, and suppliers, shall not bear any express or implied responsibility, nor be held accountable under any circumstances and in any way, for any direct or indirect damage of any kind, which the user and/or any third party shall sustain as a result of using the site, including vis-à-vis taxation and/money laundering.
  3. The Company is not responsible for the veracity of the information and/or announcements and/or commercial information published on the site and/or for its quality and/or validity and/or integrity and/or accuracy and/or suitability for any purpose, and the Company shall under no circumstances be accountable for any direct or indirect, pecuniary or other damage which the user shall sustain as a result of using the site, or relying on the information appearing on it or on sites external to it.
  4. The Company does not undertake that the service offered on the site shall be continuously and systematically available without stoppages or disruptions and/or shall be immune to unauthorized access to the Company's computers. The Company shall not be liable for any direct or indirect damage, mental anguish, etc. which shall be sustained by the user and/or caused to his property through damages, breakdowns, malfunctions, failures in hard wear, software and communication lines with the Company or any of its suppliers and/or viruses, and various types of spyware and malware.
  5. The Company is not responsible and shall bear no liability for any content or threatening, slanderous, indecent, offensive or illegal behavior by, or for any infringement of the rights of, any third party, including intellectual property rights, and the Company shall not be responsible for any content which is sent via and/or included on the site by any third party.
  6. The site may include links to information sources and/or other resources which the Company may in its discretion change from time to time. Unless stated otherwise, these links shall not be regarded as an expression of support or the express or implied provision of immunity by the Company. The Company does not give any undertaking regarding the propriety of the links which shall be found on the site or that they will lead to an active website. The presence per se on the Company's site of a link to a certain site does not imply that the content of the linked site is reliable complete or up-to-date, and the Company shall not bear any responsibility in connection in this regard, including if the links lead to, inter alia, illegal and/or immoral and/or offensive sites.
  7. The Company may, without having to give prior notice, close the site or from time to time alter its structure, appearance, contents and the availability of the services which it provides, including by adding or removing specific advertisements, and no complaint, claim or demand shall be made with regard thereto against the Company.
  8. The user shall be responsible for any direct or indirect damage which the Company and/or any third party shall sustain as a result of a breach of the terms of use or any law, including through the nondisclosure of information or the provision of incomplete information contrary to the provisions of the Prohibition on Money Laundering Law and/or the Income Tax Ordinance. The user shall indemnify the Company when first asked by it to do so, against any claim or demand made against it as aforesaid, including with respect to legal costs.

Protection of privacy

  1. The Company recognizes and respects the importance of protecting the privacy of the site's users and wishes to present within the framework of this document its privacy policy with respect to the users of the site and the Company's services.
  2. The Company reserves to itself the right to change and update the site privacy policy from time to time, without prior warning, and therefore those browsing the site or using the services offered on it, are responsible for keeping abreast of changes. It is clarified, that any change shall take effect on the date of its publication. With regard to substantive changes to instructions on the use of personal information which you have submitted, a notice shall be sent via email.
  3. The Company gathers personal data which it uses exclusively for the purpose for which it was given.
  4. The Company may make use of the information on the site. The user has the right to ask the Company via a written request through the site not to use information relating to him. Should such a request be made, the Company may demand that the user not make use of the site without consenting to the Company's policy, including on the subject of privacy. By using the site, including after submission of his request, the user shall be deemed to have renewed his agreement to the terms of use provisions, including those which address the subject of privacy. The user may write to the Company with regard to the inspection and correction of information about him which the Company has in its possession.
  5. In addition, the Company may use the details which the user gave on the site for the purpose of analyzing and passing on statistical information to third parties, including advertisers, without identifying the user personally. The Company likewise reserves to itself the right to gather information concerning the site and network usage patterns and to use that information in order to improve the site's services, operation and contents, as well as to forward marketing and/or other material to the user, adapt the site to the requirements of the user himself and/or of all its users.
  6. The Company may contact the user verbally or in writing through any of the media channels which he gave, including his postal and electronic mail addresses, SMS, etc.
  7. In utilizing the user's details, the Company shall comply with all statutory provisions, including those of the Protection of Privacy Law, 5741-1981. The user may contact the Company with regard to the information relating to him, pursuant to the provisions of the Law.
  8. The Company reserves to itself the right to lawfully utilize and divulge the user's details, including in the following cases:
    1. The user and/or anyone acting on his behalf made illegal use of the site and/or concerning the site.
    2. Within the framework of legal proceedings and/or at the request of a competent authority and/or any party to which the Company is indebted and/or GMT and its Branches to convey information under the Prohibition on Money Laundering Law, including international laws concerning money laundering and/or the prevention of fraud and embezzlement.
    3. For the purpose of enforcing the terms of use.
    4. For the purpose of protecting the Company's interests and/or those of anyone acting on its behalf.
  9. Within the framework of the site, use shall be made of "cookies" which store information about the user on his computer. The user may deactivate these cookies through his browser, however, it is clarified to him that this may spoil his experience in using the site or parts thereof, or even stop him using the site altogether.
  10. The Company may store all types of information concerning the user's visits to the site, including the details which he gave when registering for the site and/or making a purchase and/or "log" records relating to the user's data (such as his IP address, the duration of his visit to the site, the web pages which he browsed, etc.) and use it in the manner described above. The Company may make use of third party services for the purpose of analyzing the information and the user expressly agrees to this.
  11. The Company stores information about you and your activities in its databases. The information shall be retained by the Company for a period of at least 7 years or more, should this be necessary in order to comply with the provisions of any law. You may ask for your data to be erased from the Company's databases at any time, and we shall do so within 7 business days of receiving your request.
  12. Should the data be erased at your request, you declare that you are aware that it cannot be reconstructed and that should you and/or a third party and/or an authority request the data and/or should you have any complaint against the Company and/or against any third party, including authorities, you hereby relinquish any demand and/or claim against the Company and you shall be precluded from making any claim against it and/or taking any action against it by any means.
  13. Cases arise in which we are obliged to retain certain information even after receiving a request to erase it. Please note, that in such cases, notwithstanding your instructions to the contrary, we shall retain the information in question because the law prohibits its deletion from the databases.
  14. It is clarified that any advertisements on the site which do not appear there directly on the Company's behalf, shall be the sole responsibility of the third parties who posted them, and the Company shall bear no responsibility for them, including with regard to the gathering of data by the said advertisers and the user shall be bound  by the advertisers' terms of use, including vis-à-vis the information that was gathered and his protection of privacy rules and the user may act against the third parties in so far as he shall see fit and hereby relinquishes any claim and/or demand and/or complaint against the Company concerning the activities of these third parties.
  15. While it takes standard precautions in order to protect in so far as possible the confidentiality of the information which is given to it, the Company cannot guarantee absolute immunity from unauthorized breaches of the site and/or prohibited use by third parties of information stored on the site and/or in its databases.
  16. It is therefore clarified that if, despite the security measures, the user's details should be exposed as a result of unauthorized breaches, the Company shall not be responsible for any direct or indirect damage resulting from the disclosure and/or use of information that was given by the user.  

Illegal and prohibited use

  1. The user hereby unreservedly undertakes to act in a lawful manner, including by not:
    1. Writing any notice, information, data or any other material which is unlawful and/or breaches an agreement or undertaking or any right and/or is damaging, and/or threatening and/or also and/or is disturbing and/or offensive and/or racist and/or defamatory and/or which may constitute libel and/or slander and/or an infringement of another man's privacy.
    2. Impersonating any person and/or other entity or filling in false and/or imprecise details when registering for the site or during any other visit to the site.
    3. Entering information to the site which may solicit other users and/or advance an unlawful purpose and/or cause damage, or sending material which contains a virus and/or a computer program which could cause damage to the site.
    4. Directly or indirectly violating the provisions of any law.
    5. Using the consideration monies to commit any violation of the laws of the State of Israel.
    6. Posting advertising information or commercial information in any way.
    7. Giving information which personally identifies other people without their express consent.
    8. Infringing the Company's copyright in the site and its contents, including, inter alia, through duplicating, copying, distributing or broadcasting all or part thereof.
    9. Entering any application and/or account and/or link which is not intended for him and/or which he has no permission to enter or trying to obtain contents or information by means which have not been placed at his disposal.
    10. Using the site and its contents in a way that could harm, paralyze, overload or damage the site or another site, communication networks or any communication equipment, or impeding the use and enjoyment of the site by any other party.
    11. Trying to obtain unauthorized access to the site, its contents, the accounts of other users or computer systems or networks which are connected to the site in any way.
    12. Gathering, downloading or copying lists of or other information pertaining to users, utilizing such information or forwarding it to any third party.
    13. Funding a purchase from an illegal source.
  2. The Company reserves to itself the right to terminate and block the user's activity on the site should a concern arise that he is not using the site in a manner consistent with its intended purpose, should the user fail to honor the terms of use or should an impediment of any kind exist to normal site activity, including noncompliance with the provisions of the Prohibition on Money Laundering Law.
  3. The user undertakes to indemnify the Company and/or its workers and/or managers and/or shareholders and/or representatives and/or agents and/or related corporations and/or anyone acting on its behalf, against any damage, loss, destruction, payment or expense which they shall sustain or incur, including lawyer's fees and litigation costs, because of a claim and/or demand made against them as a result of the user's activity on and/or in connection with the site and/or his breach of any of these terms of use and/or infringement of any other right belonging to any third party.
  4. For the avoidance of doubt, the user's liability also encompasses direct, indirect, resultant, incidental and/or special damages, including damage to reputation, loss of income loss of data and loss of profits.
  5. The use of the site is personal and private and the user shall be obliged to keep his personal user name and password confidential. Transferring the user name and password to another person, even for noncommercial purposes, is strictly prohibited and may result in sanctions being imposed or proceedings being taken against the user.
  6. The user is obliged to inform the Company of any unauthorized use of his personal user name and password immediately upon becoming aware of it.

Intellectual property

  1. All copyright and intellectual property, of any kind, including moral rights in the idea upon which the site is predicated, in the name and trademark of the Company and/or the site and the structure of the site, its design and the manner in which the information appears in it, its content, design, arrangement and trademarks and the way in which the information which appears on the site is presented and arranged, images, illustrations, sound, video clips, graphics, charts, text and software applications and in connection with any advertisement, content, article, design, application, file, software and any other material, whether tangible or abstract, which is published on or under the auspices of the site, belongs exclusively to the Company. The terms of use grant to the user permission to use the site only.
  2. Subject to copyright law, the copying, redistribution, broadcasting, advertising, public presentation, transmission to a third party, creation of derivative works, temporary or permanent storage in any way of the site's contents or part thereof or making any commercial or noncommercial use in or outside of Israel, of any of the foregoing, in an unlawful way, and without the operator's prior written consent, is prohibited. It is likewise prohibited to distort or otherwise change the protected information or to engage in any action which may undermine the accuracy of the information, its reliability or distinction, or the name of the operator as its copyright holder or of any other party.
  3. By submitting information for publication on the site, through the site and/or in any other way which is connected to the site, the user declares and confirms that he owns all the intellectual property rights in that information which are required for such publication and that no legal and/or other restriction exists to its publication and/or the granting of permission for its use by the Company and/or anyone acting on its behalf and/or a third party.                                 
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