So, you're sipping your morning coffee, thinking about logging into good old trusted Poloniex to execute some trades...but did you remember to read the Terms Of Service? As of August 1st, they've been modified. You're busy, it's understandable you didn't. Yes, you probably even believe the government has you covered if anything goes wrong; after-all, KYC/AML is for your protection, right? You shared all of your information with them, even took photos of yourself with your ID, told them your dog's name, and gave them your blood samples. Hey, what could go wrong?
Don't worry, we know the Terms of Service is long, so we've condensed it to an easy to read 'best-of' for you!
In a nutshell, while you're busy trading, or otherwise storing your hard-earned money on Poloniex...they have no obligation to keep your money safe, secure, or even to make sure your money remains 'yours'.
TOP 13 list of POLONIEX Terms of Service!
poloniex.com/terms/
Best of Poloniex:
#1. "CLASS ACTION WAIVER" - Thinking about joining up with others to sue poloniex? Think again, you waive that right!
#2. If your trades don't go through, Poloniex doesn't care: "You agree that you shall not hold Poloniex liable for any damages arising from a rejected transfer."
#3. The Poloniex NON-Privacy policy! Think you have any rights to your data, or anything you do while on their site? Think again:
"We disclose your Personal Data...It may be necessary to disclose your information to comply with any law..We may share your Personal Data with
third party service providers..We share some or all of your Personal Data in connection with or during negotiation of any merger, financing, acquisition or dissolution transaction or proceeding involving sale, transfer, divestiture, or disclosure of all or a portion of our business or assets."
#4. If you use the internet to access poloniex, they aren't responsible, for anything, ever: "Poloniex does not assume any liability, without limitation, for
any loss or damage you may experience or costs you may incur as a result of any transmissions over the Internet".#5. If you use their website, only you, not they, are responsible, for anything, ever: "In entering into any transaction on the Platform, you represent that you have been, are, and will be
solely responsible." #6. Think you will pay a standard fee for trading? Think again, fees change at whim: "You agree to pay to Poloniex the fees for completed trades, as set forth in our fee schedule,
which Poloniex may revise or update in its sole discretion."#8. If poloniex writes bad code that causes vulnerability to hackers, or simply doesn't take care of its servers, they certainly aren't responsible: "Poloniex makes no representation and does not
warrant the safety of the Platform and is not liable for any lost value or stolen property, whether or not Poloniex was negligent in providing the proper security."#9. Did we mention they aren't liable for your money, ever? "You agree to indemnify, defend and hold harmless Poloniex against
any losses associated with an inability to deposit and/or withdraw Tokens based on the verification level assigned by Poloniex to your Account."
#10. Just in case you didn't get the point yet, they really aren't liable for your money:
"We make no representation or warrant that any transaction will be executed properly."
#11. Think you're going to sue Poloniex when you get mad because they steal your money? Think again! "
You agree to indemnify, defend and hold Poloniex, its affiliates and service providers, and each of their respective officers, directors, agents, joint venturers, employees, and representatives,
harmless from any claim."#12. Poloniex isn't liable for keeping its servers up, ever: "
POLONIEX PROVIDES NO GUARANTEE AS TO THE PERFORMANCE OR THE
UNINTERRUPTED AVAILABILITY OF THE SERVICES. THE SERVICES ARE PROVIDED ON AN "AS IS," BASIS.
#13. Drumroll....and the most ridiculous term of service by Poloniex, even if they run off with your money, again, they aren't responsible:
"POLONIEX SHALL HAVE NO LIABILITY... EVEN IF POLONIEX HAS BEEN ADVISED OR IS AWARE OF THE POSSIBILITY OF SUCH DAMAGES.Hope everyone enjoys using Poloniex!
