Terms of Service

Welcome to Moniex. These Terms of Service ("Terms") govern your use of the Moniex mobile application ("App") and all related services provided by Moniex ("we," "us," "our"). By downloading, installing, or using the App, you agree to be bound by these Terms. If you do not agree, please do not use the App.

Acceptance of Terms

By accessing or using the App, you confirm that you have read, understood, and agree to be bound by these Terms and our Privacy Policy. If you are registering on behalf of a business or organisation, you represent that you have the authority to bind that entity to these Terms.

Your continued use of the App following any update to these Terms constitutes your acceptance of the revised Terms.

Eligibility

To use Moniex, you must:

• Be at least 18 years of age.
• Be a resident of Nigeria or otherwise permitted by applicable law to use cryptocurrency-related services.
• Have a valid Nigerian bank account for withdrawals.
• Not be on any government sanctions or prohibited persons list.

By using the App, you represent and warrant that you meet all eligibility requirements listed above.

Account Registration

To access Moniex's core features, you must create an account. You agree to provide accurate, current, and complete information during registration and to update this information as needed to keep it accurate.

You are solely responsible for:

• Maintaining the confidentiality of your login credentials, PIN, and any two-factor authentication codes.
• All activity that occurs under your account, whether authorised by you or not.
• Notifying us immediately at support@getmoniex.com if you suspect unauthorised access.

Services Provided

Moniex provides a dual-wallet platform enabling users to:

• Receive cryptocurrency to their Moniex crypto address, which is automatically converted to Nigerian Naira (NGN) and credited to their Naira balance.
• Fund their Naira balance via direct bank transfers into the App.
• Send cryptocurrency to any external wallet, with the equivalent Naira amount deducted from their Naira balance at the prevailing rate.
• Withdraw Naira to their linked Nigerian bank account at any time.

We do not guarantee continuous availability of any specific cryptocurrency. Supported coins may change from time to time with reasonable notice.

Automatic Crypto-to-Naira Conversion

When cryptocurrency is received at your Moniex address, the App automatically converts it to NGN using the live exchange rate at the time of the confirmed blockchain transaction. You acknowledge and agree that:

• Conversion is triggered on blockchain confirmation, not at the time of broadcast.
• Exchange rates are sourced from multiple liquidity providers and may differ from rates on other platforms.
• Moniex is not responsible for rate changes occurring between transaction broadcast and confirmation.
• The Naira equivalent displayed at the time of sending may differ from the amount ultimately credited due to network delays or market volatility.

Sending Cryptocurrency

You may use your Naira balance to send cryptocurrency to any valid external wallet address. When you initiate a crypto send:

• The Naira equivalent of the crypto amount, plus applicable fees, will be deducted from your Naira balance.
• The deduction rate is based on the live exchange rate at the moment you confirm the transaction.
• Crypto sends are irreversible once submitted to the blockchain. Always verify the recipient address before confirming.
• Moniex is not responsible for crypto sent to incorrect addresses.

Fees & Exchange Rates

Moniex may charge fees on transactions conducted through the App, including but not limited to conversion fees, withdrawal fees, and network (gas) fees for crypto sends. All applicable fees will be clearly disclosed before you confirm any transaction.

You agree to pay all fees and any applicable taxes associated with your use of the App. Fees are subject to change with reasonable advance notice provided via in-app notification or email.

Exchange rates used for conversion and sending are indicative and may differ slightly from mid-market rates due to spread and liquidity costs.

Transactions

All transactions completed through the App are final and non-refundable, except where required by applicable Nigerian law. By confirming a transaction, you acknowledge that:

• You have reviewed all transaction details, including the recipient address, amount, and applicable fees.
• You authorise Moniex to execute the transaction on your behalf.
• Moniex is not liable for losses resulting from market fluctuations, technical issues, or errors in information you provided.

In the event of a disputed transaction, contact us at support@getmoniex.com within 7 days. We will investigate in good faith but cannot guarantee reversal of blockchain transactions.

Naira Withdrawals

You may withdraw your Naira balance to any valid Nigerian bank account linked to your Moniex profile. Withdrawals are subject to:

• Identity verification (KYC) completion.
• Applicable withdrawal fees as disclosed in the App.
• Processing times, which may vary depending on your bank and the time of day.
• Minimum and maximum withdrawal limits as set by Moniex from time to time.

Moniex is not responsible for delays caused by your bank or third-party payment processors.

Prohibited Activities

You agree not to use the App for any of the following:

• Money laundering, terrorist financing, or any activity in violation of the Money Laundering (Prohibition) Act or any other applicable Nigerian or international law.
• Facilitating illegal transactions or circumventing financial regulations.
• Fraud, impersonation, or providing false identity information.
• Attempting to gain unauthorised access to the App, our servers, or other users' accounts.
• Introducing malicious code, viruses, or harmful software into the App.
• Using the App to harass, abuse, or harm any other person.
• Reverse engineering, decompiling, or attempting to extract the source code of the App.

Violation of these prohibitions may result in immediate account suspension, reporting to relevant authorities, and potential civil or criminal liability.

KYC & Regulatory Compliance

Moniex operates in compliance with the Central Bank of Nigeria (CBN) guidelines and applicable anti-money laundering (AML) regulations. We are required to verify your identity before enabling full account functionality. You agree to:

• Provide a valid government-issued ID (NIN, BVN, Driver's Licence, or International Passport).
• Provide a selfie or biometric verification as required.
• Provide any additional documentation we may request for compliance purposes.

Failure to complete KYC may result in restricted access to certain features, including withdrawals and higher transaction limits. We may suspend or close accounts that fail to meet compliance requirements.

Suspension & Termination

We reserve the right to suspend or terminate your account and access to the App at any time, with or without notice, if we reasonably believe that:

• You have violated any provision of these Terms.
• Your account is being used for fraudulent or unlawful activity.
• We are required to do so by law or regulatory authority.
• Continued access poses a risk to us, other users, or the integrity of the platform.

Upon termination, your right to use the App ceases immediately. Any Naira balance remaining in a terminated account will be handled in accordance with applicable law and our internal procedures. You may contact us to retrieve your balance subject to satisfactory identity verification.

Limitation of Liability

To the maximum extent permitted by applicable Nigerian law, Moniex, its affiliates, officers, directors, employees, agents, and licensors shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to:

• Loss of Naira or cryptocurrency value due to market fluctuations.
• Losses arising from your inability to access the App due to technical issues, maintenance, or third-party outages.
• Unauthorised access to your account where you failed to safeguard your credentials.
• Crypto sent to incorrect addresses due to user error.
• Delays in blockchain confirmations or bank processing.

Our total aggregate liability to you for any claim arising out of your use of the App shall not exceed the total fees paid by you to Moniex in the 3 months preceding the event giving rise to the claim.

Disclaimers

The App is provided on an "as is" and "as available" basis without warranties of any kind, either express or implied. We specifically disclaim:

• Any warranty that the App will be uninterrupted, error-free, or free of viruses or harmful components.
• Any warranty regarding the accuracy or completeness of exchange rates displayed.
• Any implied warranties of merchantability, fitness for a particular purpose, or non-infringement.

Cryptocurrency transactions involve inherent financial risk, including the potential total loss of value. Moniex does not provide financial, investment, or legal advice. Use of the App is at your own risk.

Governing Law & Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the Federal Republic of Nigeria. Any dispute arising out of or in connection with these Terms shall first be submitted to good-faith negotiation.

If a dispute cannot be resolved through negotiation within 30 days, it shall be referred to arbitration in accordance with the Arbitration and Conciliation Act of Nigeria. The seat of arbitration shall be Nigeria, and proceedings shall be conducted in English.

Changes to These Terms

We reserve the right to modify these Terms at any time. Material changes will be communicated to you via in-app notification or email at least 14 days before taking effect. For non-material changes, we will update the "Effective Date" at the top of this page.

Your continued use of the App after the effective date of any change constitutes your acceptance of the updated Terms. If you do not agree to the new Terms, you must stop using the App and may request account closure.

Contact Us

If you have any questions, concerns, or complaints regarding these Terms, please reach out to our support team:

By using Moniex, you acknowledge that you have read, understood, and agreed to these Terms of Service.