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Privacy policy

Effective Date: 8th of August, 2018

This HotRate Privacy Policy ("Policy") describes the way we treat personally identifiable information that we collect when you use the Site owned by HotRate ("Website") or affiliated with HotRate ("HotRate Website(s)"). By using our services or opening a User account with us, you are deemed to have agreed to the terms of this Policy.
HotRate and its affiliates (hereinafter “HotRate”, “we”, “us” or “our”) undertakes to take maximum efforts in order to protect your privacy. HotRate uses the collected information about you to fulfill its contractual obligations and improve the customer service. This Policy together with the Terms of Use and other documents referred to defines the principles and rules on the basis of which we collect, process and use your personal data. The terms and definitions used in the Policy are used with the same meaning they are used in the Terms of Use.
Please read this document carefully in order to understand our approach and policy regarding your personal data and how we will use your personal data. The data controller is HotRate and any questions in respect of this policy should be directed to HotRate. We adhere to certain practices regarding your personally identifiable information, that is, data which can be used to identify or made identifiable an individual. To be fully compliant with personal data protection rules we adhere to the following principles in order to protect your privacy:
  • We respect the right of individuals to access their personal data;
  • We will provide you with choices and means to limit the use and disclosure of your personal data;
  • We will not rent or sell your personal data to third parties;
  • Any personal data that you provide to us will be secured with industry standard safety protocols and technology;
  • We are committed to follow certain principles of personal data received from the EU in reliance on GDPR effective as of May 25, 2018;
  • We will collect your personal data only for the purposes set forth herein;
  • We provide you with the means to contact us regarding inquiries or complaints of yours.
HotRate aims to ensure that this Policy is always publicly, transparently and easily applicable at HotRate 's websites.
1. General Information We Collect About You
If you apply for the User account with us you will be required to provide us with personal data in order to perform our services.We collect from you the following personal data that you share with us upon registration and while using our services:

  • first name;
  • last name;
  • username;
  • e-mail address;
  • date of birth;
  • phone number;
  • exchange history;
  • credit card information;
  • user account number in payment system, any other information for identifying purpose (in case of use of third party payment systems).
2. Other Types of Information We Collect About You (including automatically)
With regard to each of your visits to our Site and use of our services we can collect, for example, the following information about you (including automatically):
  • technical information, including the internet protocol (IP) address used to connect your computer to the internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform;
  • information about your visit, including the full Uniform Resource Locators (URL) clickstream to, through and from our Site (including date and time); products you viewed or searched for; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), and methods used to browse away from the page and any phone number used to call our customer service number;
  • information about geo-location. We may collect information about real-time location based information from your device at any time while you download or use our services. We may use this information to optimize your experience.
  • financial data and information on the use of services and facilities provided by our Site, including information on implemented transactions and parties thereto, information on the status and (crypto) currency of User accounts and cash flow on them, accrued commissions, information on crediting and withdrawal of funds to submit and execute Orders.
Information we receive from other sources.
We may receive information about you if you use any of the other websites we operate or the other services we provide. We are also working closely with third parties (including, for example, business partners, sub-contractors in technical, payment and delivery services, advertising networks, analytics providers, search information providers, credit reference agencies) and may receive information about you from them provided that the referred third parties are entitled for such information transfer.
Cookies are typically stored on your computer's hard drive, which assigns a unique identification to your computer. We also may use cookies stored in emails to help us confirm your receipt of, and response to. We also may use service provider(s) who will place cookies on the hard drive of your computer and will receive information that we select that will give us information about the way our users and visitors navigate on our site, what products are browsed, and general transaction information.
Information collected from cookies is used by us to evaluate the effectiveness of our site, analyse trends, see what difficulties our visitors may experience in accessing our site, and administer the platform. We need this information to improve the quality of our service. You are agreeing that we may use browser feature known as a "cookie" for the purposes set above.
3. Verification
For the purpose of further verification of your User account (if applicable), in order to use selected Services, you must provide us with certain personal information, including, as applicable, the information and documentation associated with identity verification. Our verification procedures may include: mobile phone number validation, identity verification and proof of residential address.
In cases stipulated by provisions of the Terms of Use you must submit to HotRate an identity document or send a scan or photo thereof in the .jpg or .png format by using the form on the Site. The scan/photo of the identity document must meet the following terms: data on the document must be clearly visible, all edges of the document must be visible, no data can be covered. The file cannot contain any signs of digital remake (e.g. painting over of an element using a graphic program). Placement of a watermark is admissible. In case of doubts, HotRate can ask you to send the photo of their identity document made so that both the face and their identity document can be seen simultaneously.
In some cases you will need to upload a scanned copy of any document supporting your residential address (e.g. utility bills, registration at the residential address etc.).
4. Using of Your Personal Data
  • to fulfill the obligations provided by any contracts concluded with you, as well as to provide you with the information, products and services requested by you;
  • to verify and check the identity of users who open and operate user accounts in order to prevent fraud, deception and other illegal activities;
  • to comply with legal requirements for the legalization (laundering) of proceeds from crime, financing of terrorism and financing the proliferation of weapons of mass destruction;
  • to notify you of other our products and services, similar to those products or services that you already purchased or information that you searched for;
  • to provide you by us or by third parties appointed by us with information about products or services that you, in our opinion, might be interested in. If you are already our customer, we will contact you via electronic means of communication (via e-mail or SMS) to inform you about products or services similar to those that were in a previous sale or negotiations to sell them to you. If you are a new customer and since we allow certain third parties to use your data, we (or they) will contact you only by electronic means and only upon your consent. If you do not want us to use your data in this way or transfer it to third parties for marketing purposes, please tick the appropriate box on the form in which we collect your data;
  • to notify you about changes related to our services;
  • to ensure the most effective presentation of the content of our Site to you and use it from your computer;
  • for administration of our Site and for internal operations, including troubleshooting, data analysis, testing, statistical data collection and for conducting surveys;
  • to improve our Site and to make sure that our content is most convenient for the operating system of your computer;
  • to give you access to the interactive features of the Site in case you wish to use them;
  • to ensure the security of our Site, our services, and your User account;
  • to evaluate and understand the effectiveness of promotional materials that we provide to you and other users, as well as to provide you with the necessary advertising information;
  • to support, respond and resolve your complaints and issues related to use of our services and the capabilities of our Site.
5. Processing Your Personal Information
While processing personal data, we also comply with provisions of the Regulation of the European Parliament and of the Council (UE) 2016/679 of 27th April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/CE (J. o.L. UE 2016, it. L119) and the Act of 10th May 2018 on the Protection of Personal Data. The basis for the processing of data is either your consent or provisions of law that authorize to process personal data, including any relevant laws and regulations on counteracting money-laundering and terrorism financing.
The provision of data is voluntary, however indispensable for rendering our services. The processing of your personal data collected when you register is based firstly on your consent as you read and accept the Policy before you create a User account and give any personal information. You can withdraw your consent at any time, going on your personal user account.
In order for us to provide our services we will need to undertake the collection, recording, organization, storage, adaptation / alteration, retrieval, consultation, use, disclosure / dissemination, along with its erasure or destruction of your personal data, either among our affiliates or other authorized third parties. Our Site does not collect any sensitive personal data about you (i.e. gender, racial origin, financial position).
HotRate is concerned with protecting your privacy and have rigid procedures & systems for data protection by design and default in place to protect the information against unlawful or unauthorised access, accidental loss or destruction, damage, unlawful or unauthorised use and disclosure. We will also take all reasonable precautions to ensure that our staff and employees who have access to personal data about you have received adequate training.
HotRate provides sufficient guarantees to implement appropriate technical and organizational measures in such manner that processing will meet the requirements of GDPR and ensure the protection of the rights of data subject. Indeed, the following specific measures are put in place:
In providing our service to you we may be required to transmit your personal data to third parties located outside the EU countries which could not have the same standards of protection for personal data. By registering your personal data with us, you agree to such transfer and use of your personal data. We will at all times ensure that third parties to whom your data is transferred commit to comply with our data protection standards by putting in place a contract to ensure your information is adequately protected. Our collection, storage and use of your personal data will at all times continue to be governed by this Policy.
The Site or other HotRate Website(s) may contain hyperlinks to websites operated by parties other than HotRate. Such hyperlinks are provided for your reference only. HotRate does not control these websites and is not user accountable for their contents or how they collect and handle your data.
The processing of your personal data for the purposes described is based on your explicit consent or on the necessity to process your personal data for the purposes of legitimate interests, as provided by Article 9, 2., (a) and (f) of the GDPR. Once you have established a User account with us, we may use your personal data for the following purposes:
  • verifying that you are the user account holder if you contact us
  • informing you of any changes affecting your use of your user account with us.
  • contacting you for marketing of additional products or services we offer
  • contacting your for crime and fraud investigations, detection and prevention
When collecting data, only the personal data absolutely required for that purpose may be requested. This means that no data other than necessary one can be requested, or stored.
Basically, we consider that your personal data should be retained only while necessary. In particular, personal data should be deleted once the legitimate purpose for which it was collected has been fulfilled. However, we may retain personal data even after the User account has been closed or is no longer engaged in business with HotRate if retention is reasonably necessary to comply with our legal obligations or meet regulatory requirements, resolve disputes, prevent fraud and abuse, or enforce our Policy or our contractual obligations.
We take commercially reasonable efforts to secure your personal data and protect it from unauthorized access, use or disclosure. If you provided us with electronic data, we will secure your personal data on our servers in a controlled, secure environment, protected from unauthorized access, use or disclosure. All electronic personal information is transmitted to other Websites through the use of Secure Socket Layer (SSL) encrypted protection. We will retain your personal information for a reasonable period or as long as required by law.
We do not knowingly request personal information from any person under the age of 18. If a user submitting personal information is suspected of being younger than 18 years of age, we will require to close his or her user account and will not allow to continue buying or selling digital currencies. We will also take steps to delete the information as soon as possible.
6. Disclosure of Your Personal Data
We may share your information with selected third parties including:
  • business partners, suppliers and sub-contractors for the performance of any contract we enter into with them or you;
  • advertisers and advertising networks that require the data to select and serve relevant adverts to you and others. We do not disclose information about identifiable individuals to our advertisers, but we may provide them with aggregate information about our users (for example, we may inform them that 500 females aged under 30 have clicked on their advertisement on any given day). We may also use such aggregate information to help advertisers reach the kind of audience they want to target (for example, women in SW1). We may make use of the personal data we have collected from you to enable us to comply with our advertisers' wishes by displaying their advertisement to that target audience;
  • analytics and search engine providers that assist us in the improvement and optimisation of our site.
We may also disclose your personal data to third parties in the following cases:
  • if we sell or buy any business or assets. Personal data of users may be disclosed to a potential buyer or seller;
  • if HotRate or all of its assets are purchased by a third party, personal data of users will be transferred as one of the assets;
  • if we are required to disclose or transfer personal data of the user in accordance with any applicable laws or within the implementation of decisions of the relevant courts, or we are compelled to force users to comply with the terms and conditions of the agreements concluded with us; in case it is necessary to protect own rights, own property, to guarantee the safety of HotRate, our users or others. This includes the exchange of information with companies and organizations to prevent fraud and reduce the likelihood of default by borrowers in conducting margin transactions
7. Your Rights
As your data controllers, we want to uphold an honest and transparent Policy about your freedoms and rights as a User. This Policy outlines the purposes of the processing for which the personal data are intended as well as the legal basis for the processing.
You shall have the right to make a request to us in order to enforce your rights to:
  • Access personal data;
  • Rectify personal data, when inaccurate or incomplete;
  • Cancel processing of personal data;
  • Object —with legitimate reasons— the process of his personal data; and/or
  • Revoke consent for the use, storage, treatment, process and/or, disclosure of personal data.
The enforcement and upholding of your privacy rights should be requested to us in writing and must include, at a minimum, the following information:
  • your complete name, address and/or e-mail address in order for us to notify you the response to your privacy request;
  • attached documents establishing your identity; and
  • a clear and concise description of the personal data with regard to which you seek to enforce any of your privacy rights. If you request rectification, please indicate amendments to be made and attach documentation to backup your request.
In order to enforce your privacy rights, please contact us by email support@hotrate.io. Upon receipt of your privacy request, and after due review of its merit, we may then edit, deactivate and/or delete your personal data from our Website or services. Please take into User account that we may not be able to delete all of your data from some our databases and that, if so is the case, we will then mark such data as permanently inaccessible. In case of amendment of personal data, you are obliged to perform actions aiming at updating personal data on the User account.
We can deny removal of personal data in a justified case (if you have completed transactions), and in particular if you:
  • have violated Terms of use of the Site; or
  • have violated the effective provisions of law, and the maintenance of personal data is indispensable for explanation of such circumstances and determination of the scope of your liability. In each case of denial of personal data removal, we shall inform you on the reasons of such denial along with the legal grounds thereof.
In case of doubts regarding the method of processing personal data, you can receive explanation from us and have the right to file an inquiry, a reservation or a complaint to the supervisory body.
The basis for processing data are in particular the effective regulations and provisions of law and the consent if it was given by you.
On the basis of the processed personal data decisions shall not be made automatically as well as data shall not be used for profiling.
We may share non-personally identifiable information (such as anonymous usage data, referring/exit pages and URLs, platform types, number of clicks, etc.) with interested third parties to help them understand the usage patterns for certain HotRate products and those of our partners. Such results consist solely of non-personally identifiable information. Non-personally identifiable information may be stored indefinitely.
You can access some of the information that we collect about you. For example, by logging into your user account, you can access information regarding recent transactions; certain personal data we maintain about you; your communication preferences; and other settings.
With respect to your communications preferences, you can unsubscribe from any materials by following the instructions included in the communication letter you receive, or you can log into your User account and update your email subscription options. If your email address has changed and you would like to continue to receive materials, you will need to access your User account, update your email address information in your User account, and sign up again.
You also have choices with respect to cookies, as described in Section 2 of the Policy. By modifying your browser preferences, you may be able to choose to accept all cookies, to be notified when a cookie is set, or to reject all cookies. If you choose to reject all cookies some parts of our Websites may not work properly in your case.
8. Access to Personal Data
The Data Protection Act gives you the right to access information held about you. Your right of access can be exercised in accordance with the Act. Any access request may be subject to a £10 handling fee to cover our costs for providing you with details of the information we hold about you.
9. Disclaimer
Please note that even though HotRate uses industry-leading measures to protect data, we cannot ensure or warrant the security of any information you transmit to HotRate or guarantee that your information may not be accessed, disclosed, altered or destroyed by breach of any of our industry standard physical, technical or managerial safeguards. No method of transmission over the Internet or method of electronic storage, is 100% secure, however. Therefore, we cannot guarantee its absolute security. HotRate uses an internal protocol for security measures to ensure that outside personnel cannot access our databases. We also apply access restrictions and educate staff members on how to properly handle personal data.
In case a personal data breach occurs that could result in a high risk to the rights and freedoms of natural persons, we will notify you immediately in a notification describing the nature of the data breach, the likely consequences of the personal data breach and the measures taken to address it.
We will not notify you of the breach if our technical and organizational protection measures eliminate the risk of the breach, if the high risk to the rights and freedoms of data subjects is no longer likely to materialize or if it would involve disproportionate effort. In such a case, we will instead organize a public communication or similar measure where the data subjects are informed in an equally effective manner.
If you have any questions about security on our Site, you can contact us by email support@hotrate.io.
10. Amendments and Updates
HotRate may change this Policy from time to time. Laws, regulations and industry standards evolve, which may make those changes necessary, or we may make changes to our business. We will post the changes to this page and encourage you to review our Policy to stay informed. If we make changes that materially alter your privacy rights, HotRate will provide additional notice, such as via email or through the services. If you disagree with the changes to this Policy, you should deactivate your User account.
11. Contact
If you have any questions or queries about us or our Policy please contact us by email support@hotrate.io.