AUTOMATED TRANSACTIONS SYSTEM
Terms for placing Orders
- Only registered users can create orders
- Order – is a bid to buy/sell cryptocurrency. Amount, equivalent to cryptocurrency, as well as it’s price is determined exclusively by the user
- All orders within the System are finite
- To successfully create an Order in the System, User must have an amount equal to or greater than an Order bid on his account, including the Commission fee
- When Order is placed, the System reserves the necessary amount of cryptocoins on User’s account to execute an Order
- User has a right to cancel her Order only when it is not currently traded. It is possible to cancel an Order that has been partially filled
- Once an Order has been created, the System automatically calculates and reserves Commission amount pertaining to the transaction
- Comkort shall use our reasonable efforts to execute any order promptly, but in accepting an Order we do not warrant that it will be possible to execute such Order or that execution will be possible according to User’s instructions. If we encounter any material difficulty relevant to the proper carrying out of an Order on your behalf we shall notify you promptly.
Minimal order volume entirely depends on the end volume, but not less than 1 satoshi
0.01 (volume) * 0.00000001 (price) = 0.0000000001 < 0.00000001
1 (volume) * 0.00000001 (price) = 0.00000001 = 0.00000001
Execution of Orders
- Cryptocurrency trading is an exchange of one cryptocurrency to another, according to the Orders created by Users
The Value (price) in a currency pair is the Value of the base currency (the first of a currency pair) relative to the quote currency (the second of a currency pair). For example, in a pair LTC/BTC – LTC is a base currency, while BTC is the quote currency
The currency pair is priced in terms of the quote currency and the price indicates how much of the quote currency is required to buy one unit of the base currency
- Orders are executed automatically only when a buy or sell Order can be filled i.e matched with one or more Orders of the opposing type
When User creates a Bid (an Order to buy in an Order book) the System matches his Order to previously created Orders that are equal to or lesser in value relative to the Bid
When User creates an Ask (an Order to sell in an Order book) the System matches his Order to previously created Orders that are equal to or greater in value relative to the Ask
- If the Order is executed partially or cannot be filled entirely, this Order becomes deferred
- Deferred Orders are sorted based on price and date created (down to milliseconds)
In case a surplus is created after rounding to the 8th digit, it will be posted back to the User’s account
Rounding examples: 0.000000015 > 0.00000002; 0.000000014 > 0.00000001
- In case an Order is executed partially and remaining balance is not sufficient to perform the trade, the System deems an Order executed and closes it. The remaining balance of cryptocurrency will be posted back to User’s account
Deposit and Withdrawal of Cryptographic Funds
- After completing registration, User is granted access to the Account’s Personal Cabinet
- User can assign System to perform tasks automatically
- All operations on the Account are performed at User’s assignment. Comkort does not accept orders related to User’s Account from Third Parties, unless otherwise stipulated by the Agreement or an agreements was made between the Parties
- The System takes note of the incoming transaction instantly, however, Account is considered funed only after the transaction gains sufficient number of confirmations
- The number of confirmations varies among forks and is displayed in deposit modal window
- Funds reserved on User’s account at the time of Order creation are not available for withdrawal
- Commission fee for withdrawal is determined solely and entirely by the service provider that supports cryptocurrency in question and does not concern Comkort.com
- Mining directly to your account at Comkort is prohibited
- Deposit for each coin is limited to maximum of 20 times per 24 hours. Deposits with higher frequency can lead to the system blocking all incoming deposits from the user.
Fiat Transactions Stipulation
- After completing registration User is granted access to the Account in the Personal Cabinet. The User can execute operations using his Account as well as give assignment to the System to perform operations on the Account automatically.
- All operations related to the Account are carried out solely at User’s request. Comkort does not accept orders in relation to User’s Account from third parties unless otherwise stipulated by the Agreement.
- The User is responsible to read the rules indicated by the Money Processing Provider in association with deposition and withdrawal of the funds.
- To replenish the Account User has to transfer funds to the account indicated by the Money processing provider in Personal Cabinet. The User is responsible to cover commission costs associated with the Transaction. The User assumes responsibility for indicating erroneous bank account details.
- Comkort does not set or has the power to influence the commission rate withheld by the Money Processing Provider. Detailed information about the rates of the Provider can be obtained at the site of the Provider as well as on Comkort Site at the moment of completing transaction.
- The Account is considered replenished when funds arrive at the account of the Money Processing Provider (Okpay, Payeer, Perfect Money).
- Comkort keeps records of the funds transferred to the Account and does not hold Users’ money. Transfers associated with the Account replenishment as well as transactions between Users are carried out by third parties (aggregators, credit card processors etc). Comkort is not liable for actions of the third parties.
- The User is obliged, when required, to complete verification procedure stipulated by Comkort Site and Money Processing Providers.
- All funds placed on the Account belong to the User. Comkort reserves the right to block funds on the Account of the User in case the Users breaks the rules of conduct stipulated by this Agreement or in case of detecting suspicious activity
- The User’s balance does not accrue interest
- To withdraw funds from the Account, the User has to complete the withdrawal form in Personal Cabinet. The User will get an email at the address indicated at the time of registration asking to confirm or to deny the withdrawal operation. In case the User does not confirm or denies the withdrawal, funds will remain on the Account.
Automated Order Execution
- The System allows for automated cryptocurrency exchange relative to BTC, LTC, DOGE
- Automated cryptocurrency conversion is an ancillary tool to exchange one cryptocoin for another
- Auto conversion operates with slight delays and CANNOT be used as a revenue generator based on rate fluctuations
- Using Auto conversion is voluntary and is turned off by default
Rules of Using Comkort Site
- Any information on this Site is considered an Agreement and thus is a public offer
- To be granted access to user the Service, User has to complete registration process:
- User needs to provide her private email
- Password should be at least 8 symbols. Password difficulty is determined by the User
- The System allows only for unique to System emails
- To complete registration, the User will have to follow the link provided in the email sent to her to her personal email
- User’s Account is treated as User’s property and can be used only by the User
- The User commits to protect password and other Account Data from third parties. In case of loss of password and/or when the Account was illegally breached by the third party, the User has to inform Comkort of the situation by contacting the tech support
- Any transaction coming from the User’s Account is treated at authorized by the User
- Comkort does not provide information about the Account or about the transaction accoiciated with the Account to third parties.
- Comkort carries full responsibility for safeguarding the data obtained from the User at the moment of registration and does not share this information with third parties, unless such requests come from federal or investigative organs in the User’s jurisdiction.
- Comkort does not take responsibitly for the information shared by the User’s during commincation on the Site.
- Any registered user can participate in Comkort’s affiliate program. In order to begin, please log in into your account and proceed to the “affiliate” section of your personal cabinet. There you will find your personal referral link with a unique identificator, which will enable Comkort to track you referral traders.
- Referee is entitled to 10% of Comkort’s commission per each referral. Comkort commissions each trade.
- Referral program is single level
- Accrued funds are automatically credited once every 24 hours, usually at 00:00 EST.
- Comkort reserves the right to change commission percent both individually and/or temporarily during promotions with prior notice
User Conduct and Obligations
- Registered Users are allowed to comment on Comkort.com news
It is prohibited to:
- Post advertisments
- Use abusive language, direct or implied
- Flood (post similar information, same repeating phrase or identical graphic files) flame or spam
- Discuss religious, national or political views of other Users
- The User does not have the right to enter into agreement with other users as to Orders bypassing the rules of this Agreement.
- Any argument that may arise between the Users in course of trading activity should be sought to be resolved in an amicable manner.
- The Users is not allowed to use the System in any other manner other than stipulated by this Agreement
- The User is not allowed to place advertising on the Site unless the User entered into prior arrangement with Comkort
- The user is forbidden to use the System for money laundering, financing of terrorism or other extremist activity, or any other illigal activity.
- Commission fee is deducted automatically by the System at the time cryptocurrency is transferred from one User’s account to another, that is once the Order is completed
- Commission fee is imposed on both Buyer and Seller and equals to 0,2% of Buy and Sell order. The percent of the fee can change during promotional periods
- Commission fee is taken in the same cryptocurrency that was used to execute an Order. For example, if the Order is to buy coin X for coin Y, the seller will be charged commission fee of 0,2% of X and the buyer will be charged 0,2% of coin Y
- Minimum commission now makes 1 satoshi per order (0.00000001)
- We shall not be liable for any loss of password or unauthorized use of the System
- The User should protect the security and confidentiality of her account information with all due diligence
- Comkort recommends to use a two-factor authentication
Limitation of Liability
- Comkort does not provide generic trading recommendations, market commentary or other information. All trading judgments are made by the Users. Users of this website are responsible for the outcome of their own actions with their account balances. Users are also responsible for protecting access information to the Website including, but not limited to, user names, passwords, and bank account details.