Binance Terms of Use (UK)

Implications

• The value of Digital Assets can fluctuate significantly, posing a risk of economic loss.
• Binance is not your broker, intermediary, agent, or advisor and has no fiduciary relationship with you.
• You are responsible for understanding the risks involved before using Binance Services.
• Binance may update these terms and its policies at any time.
• You must be at least 18 years old to use Binance Services.
• Binance may provide services through affiliates.
• The platform includes a Chat Service for customer support.
• You agree to pay all applicable fees associated with Binance Services.
• Binance may amend eligibility criteria for its services.
• Binance will contact you using the details you provide.
• Binance may refuse, block, cancel, or reverse any transaction.
• Binance may impose transaction limits on your account.
• Only certain Digital Assets are supported by Binance Services.
• Binance may suspend services during a Fork of a Digital Asset.
• You are responsible for securing your account and personal information.
• Binance may terminate or restrict your account under certain conditions.
• Binance collects and processes personal data as outlined in its Privacy Notice.
• Binance may adjust fees and will notify you of changes.
• You can close your Binance Account following their procedures.
• Upon account closure, you must withdraw all Digital Assets.
• Binance may mark inactive accounts as dormant.
• Binance may modify or discontinue any part of its services.
• Binance's intellectual property remains its own and is licensed to you for use.
• You grant Binance a license to use your intellectual property as necessary.
• Binance may record communications for quality and evidence purposes.
• You agree not to use Binance Services for prohibited activities.
• You warrant that all information you provide is accurate and complete.
• You indemnify Binance against certain losses and claims.
• Binance's liability to you is limited to the fees you paid in the last 12 months.
• Disputes with Binance are to be resolved through arbitration in Hong Kong.

Things to watch out for

• Be aware of the significant risks involved in trading or holding Digital Assets.
• Understand that Binance is not responsible for advising you or managing your investment risks.
• Keep in mind that Binance can update terms, fees, and policies without prior notice.
• Ensure you are aware of all fees associated with using Binance Services.
• Be prepared for Binance to terminate or restrict your account under certain conditions.
• Remember that any disputes with Binance will be resolved through arbitration, not in your local courts.

AI recommendations

When using Binance, it's crucial to understand the volatility and risks associated with Digital Assets. Always ensure you're comfortable with the level of risk you're taking on. Keep your account details secure and monitor your account for any unauthorized activity. Be aware of the fees you're paying and how changes to Binance's terms may affect your use of their services. Lastly, remember that any legal disputes will be handled through arbitration in Hong Kong, which may be different from your local jurisdiction.

FAQs

What are the risks of using Binance Services?

The value of Digital Assets can fluctuate significantly, which can lead to economic loss. Binance is not responsible for advising you on investments or managing your investment risks.

How will I be informed about changes to Binance's terms and fees?

Binance may update their terms, policies, and fees at any time and will notify you through email or their website. It's important to regularly check for updates.

What happens if I have a dispute with Binance?

Disputes with Binance are resolved through mandatory final and binding individual arbitration administered by the HKIAC in Hong Kong, not through your local courts.