To make a Sale, a User must have an open and validated User Account. No Sale can be made from a suspended or blocked Account. When making a Sale, the User enters the exact quantity of Crypto-assets to be sold ("SQ") or the net amount in XOF to be received on their Mobile Money account (the "Net Sale Amount"). Once one of the two values is fixed by the User, the other is calculated by IZICHANGE using the Price of the Crypto-asset sold. A User may not sell a SQ Quantity greater than the Balance of his Crypto Account under consideration. The User is the sole decision-maker of their Sale,they are free to cancel a Sale before validation. The User must enter their cell phone number allowing the payment of the Net Sale Amount on their Mobile Money account if the said number has not been previously entered following the instructions provided on the User Account and answering any additional security questions. For a Sale on the Platform, the procedure is described on the Platform and the Price of the Crypto-asset is displayed to the User prior to validation. Once validated, the Sale cannot be canceled. It can be canceled by IZICHANGE, notably in case of Technical Failure or Force Majeure. The Net Sale Amount is subject to a minimum fixed by IZICHANGE at the time of the Sale. These Sales Limits are based on User's Account information and transaction history. The User may request an increase in their Sales Limits directly from the Platform, by contacting a Customer Service Representative or Customer Support. The Compliance and Risk Management Department implements the necessary means to comply with the User's request and may ask them to provide additional information and evidence in order to authorize the Sale (in particular a Know Your Customer form and evidence of the origin of the Crypto-assets when these have been acquired outside IZICHANGE). The payment of the Net Sale Amount is made via transfer to the Mobile Money Account following the instructions provided by the User by IZICHANGE except in case of Force Majeure or Technical Failure or fault attributable to the User. An invoice detailing the operation is sent to the User and is available upon request. This information is permanently displayed in the Transaction history on the User Account interface on the Platform. Throughout the Sale process and before it is validated by IZICHANGE, IZICHANGE reserves the right to ask a User the origin of the Crypto-assets sold, their date of acquisition and the origin of the funds used for their acquisition. In case of a response deemed unsatisfactory by the Compliance and Risk Management Department, IZICHANGE will refuse the Sale and return the quantity of Crypto-assets received, if sent by the User, without any compensation. Were IZICHANGE to cancel a Sale for any reason attributable to the User, even though it has been validated by the User, the latter would be re-credited in Crypto-Asset deducting any losses incurred by IZICHANGE due to the difference in Crypto-Asset Price with the time when IZICHANGE proceeded to the Refund of the Sale. The User is solely responsible for providing their payment information. IZICHANGE will not be held responsible for any consequences linked to the communication of erroneous information by the User concerning their cryptographic address.
The User may cancel as of right:
The User has 7 calendar days after payment of the amount related to their Transaction to dispute the Service or report a problem as described in point 8. in the General Rules applicable to the Services. Beyond this period, IZICHANGE cannot be held responsible for the consequences of a problem on a Service. Notification by a User of a problem observed in connection with the performance of a Service
A Transaction may be canceled by IZICHANGE as of right and without prior notice in case of violation of the provisions of the Terms & Conditions, and in particular in case of:
In case of cancellation of a Transaction for one of these reasons, IZICHANGE will reimburse the User on the basis of either the Price of the Crypto-active used for the Transaction, or the Price of the Crypto-active corresponding to the date of reimbursement at IZICHANGE's choice. A Transaction may be canceled by IZICHANGE, without prior notice and without the possibility of reimbursement, in case of violation of the Terms & Conditions and in particular in case of non-payment of the Gross Purchase Amount by the Customer.
IZICHANGE reserves the right at any time and without prior notice to modify the payment methods accepted on its Platform for a Transaction. The User expressly agrees to use valid Mobile Money accounts in their name as a payment method. The User must have sufficient funds to complete the Purchase. The User acknowledges having read and accepted the terms and conditions of use of the payment service of the payment provider used for the settlement of Transactions. IZICHANGE reserves the right to verify the personal data communicated by the User and to adopt all measures deemed necessary to verify the identity of the User. This verification may take the form of a verification of the identity and/or domicile of the Customer prior to the validation of the Transaction. IZICHANGE cannot be held responsible for the consequences :
The list of Crypto-assets proposed by IZICHANGE is communicated to the User through the Platform. The User may also request by e-mail the communication of this list. It may change at any time without notice. In particular, IZICHANGE may unilaterally decide to no longer offer Services on a given Crypto-asset. This decision may be motivated by a possible legal or technological risk. In this case, IZICHANGE will make its best efforts to notify the Users.
The list of Services offered by IZICHANGE to its Users may change over time. These Services are communicated to the User through the Platform https://izichange.com, the User Account and/or a Customer Service Representative
All the Services that a User can use remotely must be carried out on a durable written medium, from the User Account validated via the Platform.
The Services offered by IZICHANGE are accessible directly on the IZICHANGE Platform from a validated User Account, not blocked or suspended.
In case of difficulty in the proper execution of a Service or in the creation of a User Account, the User and IZICHANGE can communicate about it by phone, by e-mail or via the support system used by IZICHANGE. IZICHANGE reserves the right, without prior notice and without any possible refund, to not validate a User Account, to refuse to execute any Service for a given User, or to block, temporarily suspend, or delete a User Account under the conditions provided for in point 9. below). More generally, IZICHANGE reserves the right to close the access to all or part of the Platform, to suspend the execution or the supply of all or part of the proposed Services in case of Force Majeure, Technical Failure, endangerment or threats to its Personnel or technical means of any kind.
A User can resort to the assistance of a Customer Service Representative for the realization of a remote Service (by telephone or e-mail or via social networks such as Telegram, WhatsApp, Messenger etc.) during the usual opening hours of IZICHANGE offices, i.e. from 8:00 am to 6:00 pm (Cotonou time) - every working day except public holidays - its social networks or via messenger or e-mail notification. IZICHANGE reserves the right not to execute or answer any request made, any order sent or confirmed by any means whatsoever (email, telephone, reception of the signed Operation Notice,...) outside the usual hours, except for Special Conditions or written agreement by the Customer Service Representative approved by their hierarchy specifying the conditions. IZICHANGE cannot be held responsible for the consequences, financial losses or opportunities related to the non-execution or lack of response to a request, an order formulated or received outside the usual hours.
The request for the realization of a Service by a User must be formulated by e-mail, by telephone, by any electronic document provided for this purpose. Once formulated by the User, the request for the realization of a Service to an IZICHANGE Customer Service Representative or Operator is irrevocable. The execution of the Service may be confirmed to the User by e-mail.
A given User may also benefit from the assistance of a Customer Service Representative or an Operator in the case of difficulties encountered on the Platform without this being an obligation of assistance attributable to IZICHANGE.
In the event of abuse on the part of a User in the recourse to a Customer Service Representative or an Operator to provide Services (for example, but not limited to, repeated unsuccessful requests, multiple solicitations, unreasonable use of a Customer Service Representative, etc.), in the event of inappropriate behavior by a User, or in the event of the use of a Customer Service Representative), in case of inappropriate, abusive or threatening behavior of a User against a Customer Service Representative or an Operator, in case of failure of a User to comply with his obligations as defined in the Terms of Service, in case of a breach of the Terms of Service, or in case of a breach of a contract described in the Terms of Service, and at the discretion of IZICHANGE, sanctions up to the deletion of the User Account may be taken by IZICHANGE.
The documents and information to be provided when requesting the creation of a User Account are indicated on the Platform. IZICHANGE will require in particular, without this list being exhaustive, a legible and valid identity document of the User, a photograph (a selfie of the User with the identity document used) of the User, the communication of a valid e-mail address, the telephone number of the User, the main residence address, information concerning the user’s income, profession and assets. The nature or format of these documents (image, PDF document, ...) may change over time. The list of required documents may differ according to the situations freely assessed by IZICHANGE. In the context of the business relationship, IZICHANGE may ask a User to update his/her documents or to provide additional documents (in particular proof of origin of funds, proof of income or assets, proof of purchase of Crypto-assets, answer to a Know Your Customer form) in order to allow them to access new Services, to allow the performance of a Service or to modify the Limits as provided in point 6. below.
The opening of a User Account and the maintenance of a business relationship with IZICHANGE are reserved for Users of legal age, whose main residence is within WAEMU and whose country of nationality is not on the list of countries under international sanction. The list of these authorized countries is likely to evolve at any time and without notice by simple decision of IZICHANGE or by regulatory obligations. IZICHANGE cannot be held responsible for the consequences of the end of a business relationship with a User due to the blocking or suspension of their User Account because of restrictions linked to their country of residence or nationality.
The User undertakes to communicate as soon as possible any change of identity, financial or professional situation, change of address, telephone number, bank details, or any other change that may affect their ability to invest, and to provide new proof. In case of expiration of their ID document, the User may be required to provide a new valid and complete document as soon as possible or their Account will be suspended or blocked. Once the User Account is validated, certain information cannot be modified without a specific procedure communicated by Customer Support and upon presentation of supporting documents. The telephone numbers for accessing the User's Mobile Money Account and the Crypto-asset withdrawal addresses are also sensitive data. Their modification is subject to a specific procedure described on the Platform or communicated by the Customer Support.
The User is solely responsible for securing access to their User Account on the Platform, which is granted by default using an email address and a password. It is imperative that the User protects their Account by ensuring the protection of their email system (and which they are the only one to have access to) linked to their Account and by using a complex password different from those they usually use, and this, before carrying out any Service. The User is advised to set up the double authentication ("Google Authenticator") to access their User Account in order to secure their information and access the Services. The User must alert IZICHANGE by any means (e-mail or telephone call to the Customer Support) if they considers that there is a security risk related to their User Account so that the said Account can be blocked.
A User can ask, at any time, to delete their User Account, validated or not, by informing the Customer Service by e-mail. IZICHANGE will comply with the request within a reasonable time and according to the provisions set out in the Personal Data section. Please note that in order to meet its legal obligations, IZICHANGE implements a surveillance processing for the purpose of AML/CFT and the application of financial sanctions. As a result, some data will be kept for 5 years after the end of the business relationship.
A User Account is strictly personal and is created for the sole use of the User. IZICHANGE authorizes the opening of only one User Account per person.
In the event of death, disability or incapacity of the User or by court order, the User Account will be deleted.
IZICHANGE reserves the right to modify at any time, without prior notice, the minimum value in XOF or in quantity of Crypto-assets linked to the realization of a Service for a given Crypto-asset (notably the minimum amount of Purchase and Sale). These amounts are communicated on the Platform, by the Account Managers and upon request to the Customer Support.
IZICHANGE theoretically allows its Users to carry out Services according to a maximum limit of amount or a limit related to the asset used as long as the User Account does not present any security risk, as long as the User is able to justify the origin of the funds (in legal tender or in Crypto-assets) during a Purchase or a Sale, and only if the Compliance and Risk Management Department has given a favorable opinion to the realization of the Service, following the analysis of the documents, of the possible Know Your Customer forms and more generally of the information transmitted by the User.
Buying and Selling Limits can be fixed over a period of 365 sliding days, per day, over a given period or without time limit and can apply to a given Crypto-asset. The value of the Limits corresponds to the cumulative amounts of all the operations carried out over the period. Purchase Limits may differ depending on the payment method. The User is informed of this via the Platform or by a Customer Service Representative.
Whatever the level of the User's Account, the Compliance and Risk Management Department, in the framework of its action for AML/CFT and the prevention of fraud and risks, may decide at any time to suspend the execution of a Service for a given User for a period that cannot exceed seven (7) working days from the request for the execution of a Service, without IZICHANGE being held responsible for any consequences incurred from this suspension. At the end of this period and without any time limit, the Compliance and Risk Management Department may decide to prohibit the provision of Services, to prohibit or limit the use of certain payment methods, to block or suspend an Account. The questions that IZICHANGE asks the User help to get to know them, to better understand their motivations and to remove any possible doubt about the conditions under which they to have a Service performed. IZICHANGE is required by regulation to ask regulatory questions. In the absence of a satisfactory response and cooperation from the User, IZICHANGE may cancel the Transaction in question and will refund the User by deducting the Intervention Costs and any other losses incurred by IZICHANGE in the course of carrying out the said operation. Supporting documentation required by the Compliance and Risk Management Department includes (but is not limited to):
Taking into account the technologies used in Crypto-assets and their characteristics, if a User notices a problem of any kind related to a Service, to a payment of the Gross Purchase Amount, or the payment of the Net Sale Price, they must notify IZICHANGE of the problem within 7 calendar days after the execution or non-execution of this Service by contacting the Customer Support and providing proof that the Customer Support has received their notification.
A User Account may be suspended or blocked by the Compliance and Risk Management Department at any time for reasons related to:
A suspended or blocked User Account will not be able to access the Services temporarily or permanently. IZICHANGE can in no way be held responsible for any consequences whatsoever linked to the blocking or suspension of a User Account, especially for the theft or loss of Crypto-assets held by the Customer's Crypto Account occurring before or after the blocking or suspension due to an act attributable to the User.
The completion of a Purchase or Sale transaction does not give rise to a right of withdrawal for the User insofar as it is the supply of goods or services whose price depends on fluctuations in the financial market beyond the control of the professional that may occur during the withdrawal period.
Crypto-assets and the technologies on which they are based are innovative and relatively new. Whatever their uses (investment value, exchange value, representation of a right...), Crypto-assets and their use carry many risks listed and explained in this document.
Transactions related to Crypto-assets are therefore not suitable for all people. It is up to the Users/Customers to keep informed about the different Crypto-assets, the underlying technologies, and to understand what a Wallet is (as this term is defined in our Glossary), to know how to manipulate it and in particular how to carry out Purchases and Sales of Crypto-assets.
IZICHANGE makes available free of charge, on its Website and on its social networks, and updates educational content, research notes, white papers written by its teams in order to accompany its Users/Customers. The Help/F.A.Q. section gathers answers to many questions.
On its Website and its various supports, IZICHANGE is likely to indicate the past performances of the valuation of a given Crypto-asset (notably its Price as this term is defined in our Glossary). IZICHANGE reminds its Users/Customers that past performances are no guarantee of future performances, that Crypto-Asset prices are particularly volatile (as an indication, they can vary more than + or - 20% in one day) and that as a general rule, there is no high performance without high risk.
The following risks are not an exhaustive list of all risk factors associated with Crypto-assets.
General : Users/Customers should note that the value of the Crypto-assets they purchase or hold may go down as well as up and that the value of the Crypto-assets may be subject to sudden and substantial decline. A User/Customer may not be able to recover the amount invested or may suffer a substantial or total loss of the investment. There is no guarantee that the investment objectives pursued through the acquisition or holding of Crypto-assets will be achieved.
Investor Risk: The Crypto-assets offered by IZICHANGE can be bought and held by any individual, Beninese or foreigner. However, Users/Customers must ensure beforehand that Crypto Asset Transactions meet their financial situation.
IZICHANGE may refuse any Transaction that it deems not to be in line with a User/Customer's professional situation or any other regulatory constraint.
Risk of Capital Loss: The price of Crypto-assets is constantly changing according to the relative amount of demand for buying and selling on the Marketplaces. The more the price of a Crypto-asset fluctuates up and down, the greater the volatility. This volatility is positively associated with the expectation of gain and negatively associated with the risk of capital loss. Completing a Crypto Asset Transaction involves a high degree of risk of loss of capital of the entire value associated with the Purchase or Conversion of Crypto Assets.
Legal Risks: The legal status of Crypto-assets is not determined in the jurisdiction in which the User/Customer is located. This implies that the legality of possessing or exchanging Crypto-assets by the User/Customer may change at any time depending on the authorities' reading of the regulations in force or regulations to be intervened.
Users/Customers are solely responsible for knowing and understanding how Crypto-assets are governed by the regulations in force, in particular the tax regulations applicable to them.
Volatility risks: The value of all Crypto-assets can change rapidly. Users/Customers are cautioned that they should be careful about their exposure to different Crypto-assets and that their exposure can be potentially impacted by sudden and unpredictable changes that would impact their Transactions.
Tax risks: The tax status of certain Crypto-assets may not be determined in the jurisdiction in which the User/Customer is located. This implies that the User/Customer is responsible for checking the following:
Risks related to Crypto-assets: Given the nature of Crypto-assets and the underlying technologies, the following is a non-exhaustive list of the risks inherent to the use of Crypto-assets:
User/Customer Account Hacking Risks: Account hacking refers to a malicious individual taking control of an account from its rightful owner. The User/Customer is warned of this risk and is advised to follow the User account security procedures proposed by IZICHANGE.
Illiquidity Risks : Illiquidity risks are high in the crypto-asset markets, especially in times of economic stress on small caps. The inability to absorb transaction volumes can have a significant impact on the price of Crypto-assets. In this case we talk about lack of liquidity.
Exchange risk: Risk to which any investor acquiring a Crypto-asset denominated in a currency other than the legal tender in your country of residence is exposed. A decrease or increase in foreign exchange rates may result in a decrease or increase in the value of the Crypto-asset when denominated in foreign currencies, as appropriate.
Regulatory Risk: IZICHANGE is a service provider on Crypto-assets which provides the activities of buying/selling Crypto-assets.<In />
Market Risk: There is a risk of loss of value of the Crypto-assets caused by an unfavorable price development of these assets. Consequently, Users/Customers making Transactions in Crypto-assets must take into account the risk of partial or total loss of the sums invested due to fluctuations in the value of Crypto-assets.