Terms of Service

Release date: 21.08.2022
Last update: 21.08.2022


These Terms and Conditions (‘Terms’), along with the Privacy Policy (‘Policy’), constitute the Agreement established by and between the company UAB Skailenga (also referred to as ‘GM.Money’ ‘We’, ‘Us’ or ‘Our’) and the User (also referred to as ‘You’ or ‘Your’) by virtue of the User using the Webiste and/or the Services of GM.Money.

By signing up through the Website You agree that You have read, understood, and accept all of the Terms. If You do not agree or fail to adhere to the Terms or any other rules of any of the Services, You are not entitled to use the Services.

Accepting these Terms is a condition to use the Services. Refusal to accept modifications to the Terms shall preclude the User from using the Services. All Users are obliged to observe these Terms. GM.Money reserves the right to update the Terms at any time, at its sole discretion. In case of any changes, GM.Money will change the date of the last update at the beginning of the Terms. By continuing to use the Services following the release of updated Terms, the User consents to the updated Terms. GM.Money invites the User to check this page regularly for updates to the Terms.

Before using the Services of GM.Money, the User must carefully consider whether purchasing or holding Cryptocurrencies is suitable for the User in the light of the User's financial situation and knowledge regarding the Cryptocurrencies that the User is interested in. Purchasing or holding Cryptocurrencies entails a substantial risk of loss and the value of Cryptocurrencies is subject to extreme volatility.

The Website and the Services offered by GM.Money are NOT ADDRESSED TO AND MAY NOT BE USED BY:

  • natural persons who are NOT at least 18 years of age; and
  • persons who have their citizenship or their legal place of residence in any country that is in the list of Restricted jurisdrictions;
  • persons who are subject to jurisdriction(s), of which, any law(s) prohibit the person from using the Services;
  • persons who have been previously suspended from using the Services.


Account – any account opened with GM.Money by a User, using which, the User can access the Services;

Conversion Rate – the price or exchange rate of one unit of a given supported Cryptocurrency whereby the price of the offered asset is determined by GM.Money. Conversion Rate is derived from multiple factors, such as direct and indirect asset acquisition cost, market risk to which GM.Money is exposed to while completing the transaction and liquidity providers used by GM.Money. The User acknowledges that the Conversion Rate may be subject to change after placing an order.

Cryptocurrency – a digital representation of value that does not possess a legal status of currency or money, that is not issued or guaranteed by a central bank or any other public authority, is not necessarily attached to a currency, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.

Fiat Payments – Service allowing Users to use the Purchase Service by using their credit or debit card with the fee described on the Website. The list of minimum limits for using Fiat Payments is available on the Website.

GM.Money – UAB Skailenga, a Lithuanian private limited liability company registered under registry code 305942660, Vilnius, Eišiškių Sodų 18-oji g. 11.

Know Your Customer or KYC process – the process of identifying and verifying the User's identity and applying other due diligence measures when opening the Account and periodically over time. The User’s identity verification may be conducted using only the identity documents listed in the list of acceptable identity documents available on the Website.

Know Your Transaction or KYT process – the process of conducting transaction monitoring and screening on the Transactions.

Order – any order(s) made though the Website upon the request of the User, including: (i) purchase of Cryptocurrency by the User from GM.Money via the Website; or (ii) sale of Cryptocurrency to GM.Money by the User via the Platform; or (iii) deposit of Cryptocurrencies to the Wallet initiated by the User; or (iv) withdrawal of the Cryptocurrencies to another public blockchain address from the Wallet initiated by the User (v) other orders made in the frames of the use of the Services.

Exchange Service – regulated service of Cryptocurrency exchange, using which Users can buy and sell supported Cryptocurrencies from and to GM.Money, in exchange for supported Fiat currencies, buy or sell supported Fiat currencies from GM.Money, in exchange for supported Cryptocurrencies and exchange supported Cryptocurrencies for other supported Cryptocurrencies. The list of supported Fiat currencies and Cryptocurrencies is available on the Website.

Services – services provided by GM.Money to the Users.

Taxes ‒ taxes, levies, duties or similar governmental assessments of any nature, including, for example, value-added, sales, use or withholding taxes, assessable by any jurisdiction whatsoever.

Terms – these Terms and Conditions including all the chapters, as amended from time to time.

User – anyone who uses the Website and/or Services provided by GM.Money.

Wallet – Cryptocurrency wallet of the User, which can be accessed through the Website.

Wallet Services ‒ regulated service of Cryptocurrency depository wallet, whereby User is able to deposit Cryptocurrencies, withdraw Cryptocurrencies and store Cryptocurrencies, which can be accessed via the Website.

Website – website of GM.Money located at https://gm.money.

Services description

The Services enable the User to make various transactions with Cryptocurrencies.

GM.Money is exclusively entitled to decide on functionality, the use, subject matter and the range of the Services as well as to cease rendering the Services.

GM.Money is exclusively authorized to decide on the contents and the nature of the Services as well as to freely add, change, or remove particular elements.

The materials appearing through the Services could include technical or contents errors. GM.Money does not warrant that any of the materials on Services are accurate, complete, or current. GM.Money may make changes to the materials contained on Services at any time without notice. GM.Money does not, however, make any commitment to update the materials.

The use of any new Services of GM.Money, after the User has accepted these Terms shall be subject to its provisions.

Wallet services

The Wallet Services allow the User to store, send and receive supported Cryptocurrencies. The Company securely stores Wallets' encrypted private keys in Company’s control.

Withdrawals and deposits

The User may deposit Cryptocurrency to and withdraw Cryptocurrency from their Wallet. The Cryptocurrencies may be deposited from another Cryptocurrency wallet held by the User and also from a Cryptocurrency wallet not held by the user. Upon depositing Cryptocurrency to their Wallet, the User is responsible for ensuring that the chosen Cryptocurrency and network are supported by the Company, otherwise the funds may be lost forever. The Company is not liable and shall not compensate the User for any losses or damages, if the User makes deposits with Cryptocurrencies and/or uses networks that are not supported by the Company.

The User may withdraw Cryptocurrencies to another Cryptocurrency wallet held by the User and also to a Cryptocurrency wallet not held by the user. Upon withdrawal, the User is responsible for ensuring that the entered wallet address is correct and valid, otherwise the funds may be lost forever. Upon withdrawal, the User’s Wallet must have sufficient balance for the transaction to be processed, including any fees applicable. The Company is not liable and shall not compensate the User for any losses or damages, if the User has provided an incorrect wallet address.

Exchange Service

The User may buy or sell supported Cryptocurrencies against supported Fiat currencies by using Fiat Payments and exchange Cryptocurrencies against other Cryptocurrencies at the current Conversion Rate. To buy Cryptocurrencies using Fiat Payments, the Company will issue an invoice to the User, using which, the User can make a payment in the amount specified in the invoice to the Company’s bank account. In a case the User does not pay the invoice within 10 days from the date of its issuance, the User’s request for the purchase of Cryptocurrencies will be declined automatically. In a case the Company receives the payment form the User successfully, the transaction will be usually processed within minutes in the case the payment was done using a credit or debit card. The bought Cryptocurrencies may only be transferred to the Wallet held by the User accessible through the Website. The Fiat currencies for the sold Cryptocurrency may be only transferred to the account owned by the User.


GM.Money undertakes to take reasonable efforts to ensure that Orders are processed in a timely manner, however, GM.Money makes no representations or warranties regarding the amount of time needed to complete processing, which is dependent upon many factors beyond the control of GM.Money.

An Order is considered to be completed when: (i) GM.Money makes a transfer of the required cryptocurrency amount to the Wallet of the User (if You purchase cryptocurrency); or (ii) GM.Money makes a transfer of the required Fiat currency to the account indicated by the User (if You sell cryptocurrency); or (iii) the User receives the required amount of Cryptocurrencies to the Wallet of the User; or (iv) the required amount of Currencies are transferred to another public blockchain address indicated by the User.

GM.Money does not guarantee that any Order will be accepted. The User hereby understands and agrees that GM.Money shall not be liable for any losses or damages arising out of or relating to: (i) any inaccuracy, defect, or omission of Cryptocurrency price data, (ii) any error or delay in the transmission of such data, or (iii) interruption in any such data.

The User acknowledges that in a case he provides inaccurate or false information while placing the Order (including but not limited to a bank account number that belongs to a third party), which later proves to be the reason why the Order cannot be completed, the fees associated with the refund of the transaction shall be borne by the User.

GM.Money reserves the right to temporarily hold the Cryptocurrencies or Fiat currencies transferred to GM.Money from the User if there are attempted attacks on the server, as well as any attempts of hacking and cheating scripts of the Website. The Cryptocurrencies or Fiat currencies will be returned to the User via the same method of payment upon request.


The User may be subject to Order limits, which is determined on the basis of the KYC level conducted regarding the User and other relevant information. All limits in Cryptocurrencies and Fiat currencies are determined in the equivalent amount of EUR. In a case the User exceeds the set limits, the transaction may be rejected or also additional information may be requested from the User and the transaction may be approved at GM.Money’s sole discretion.

The KYC levels and the limits assigned to the KYC levels are available on the Website.

Revoking or amendment of orders

The User acknowledges that the execution time of orders is based on the actual operation time of GM.Money. To revoke or amend an order the User needs to write a request to GM.Money via the ticket system available on the Website or via email [email protected] from the contact email that the User has provided GM.Money. The User acknowledges that GM.Money does not guarantee that the order can be revoked or amended at any point and that the decision for the approval of revoking or amendment of any orders is determined at the sole discretion of GM.Money. GM.Money may request additional KYC and transaction information. The approval of any revoking or amendment or order to the User is determined at the sole discretion of GM.Money. Additional fees may be applicable in a case the revoking or amendment of an order is approved by GM.Money.

All orders to sell Cryptocurrencies against Fiat currencies are final and the User does not have the right to revoke or amend their orders at any point.


To request a refund, the User needs to write a request to GM.Money via the ticket system available on the Website or via email [email protected] from the contact email that the User has provided GM.Money. GM.Money may request additional KYC and transaction information. Refunds are not possible for all Oreders where the User and the approval of any refund to the User is determined at the sole discretion of GM.Money. All refunds will be made based on the current Cornversion Rate. Additional fees might be applicable in a case the refund is approved by GM.Money.


GM.Money expects the User to contact GM.Money via the ticket system available on the Website or via the email [email protected] from the contact email that the User has provided GM.Money to resolve any problem or issue related to his payments before the User makes any chargeback request. GM.Money will investigate any chargeback requests made by the User and in response will inform the User’s issuing bank whether any Service or Order has been cancelled. GM.Money reserves the right to suspend the User's account and lock the User's Cryptocurrencies on the Wallet during the chargeback investigation procedure.

This section does not affect any rights and/or claims, which the User may have against the bank/financial institution.

Registration and Account

In order to access and use the Services, the User must create an account with GM.Money (‘Account’). The User may only open one Account with GM.Money and only if it is legal to do so in the User’s country of residence. By opening an Account the User represents and warrants to GM.Money that the opening of an Account does not violate any laws or regulations applicable to the User.

With creating the Account, the User agrees to:

  • provide accurate, truthful, current and complete information when creating or updating an Account;
  • maintain and promptly update Account information (not later than within two weeks, of any changes to such information);
  • maintain the security and confidentiality of login credentials and restrict access the Account and computer;
  • promptly notify GM.Money if the User discovers or otherwise suspects any security breaches related to the Site; and
  • not act in a manner that is illegal, defamatory, threatening, intimidating, or harassing;
  • not impersonate a someone else;
  • not disguise his location through IP proxying or other methods;
  • not violate, misappropriate, or infringe the rights of publicity, intellectual property, or other proprietary rights;
  • take responsibility for all activities that occur under the Account and accept all risks of unauthorized access; and
  • not violate any applicable law or regulation.

KYC process

Upon registration, GM.Money will conduct an identification verification (‘Know Your Customer’ or ‘KYC’) process to comply with all applicable anti-money laundering, sanctions and other relevant statutory requirements. GM.Money reserves the right to limit the Website functionality to the Users who have not passed verification. If the Customer refuses to provide required documents and information under KYC, GM.Money reserves the right to immediately terminate the Services provided to the User and/or restrict the access to the Account.

GM.Money may also carry out verification checks for certain transactions as requested by law. Carrying out those checks might increase the time it takes to process the User's transaction. GM.Money shall not be held responsible for any delays because of carrying out such checks. GM.Money shall not bear any losses or damages, direct or indirect because of delays when carrying out transaction checks.

The User undertakes to provide GM.Money with correct and relevant documents and personal information contained therein. In case the User provides counterfeit documents and false personal information, such behavior will be interpreted as a fraudulent activity.

The User hereby authorizes GM.Money to, directly or indirectly (through third parties), make any inquiries as GM.Money considers necessary to check the relevance and accuracy of the information provided for verification purposes. GM.Money may ask for additional information after onboarding and during the client experience to comply with anti-money laundering laws and regulations.

Personal data transferred will be strictly limited to the necessary amount and with protected security measures in use to protect the data.

GM.Money uses the services of third parties to conduct the KYC process.

KYT process

GM.Money will conduct KYT process on all transactions, including but not limited to the parties of the transactions, Cryptocurrency wallets related to the transactions and the funds used to make the transactions. During the KYT process, GM.Money may request additional information about the transaction and/ or the User or another parties relating to the transaction to understand the purpose and nature of the transaction.

Personal data transferred will be strictly limited to the necessary amount and with protected security measures in use to protect the data.

GM.Money uses the services of third parties to conduct the KYT process.

Account termination or closing

The User may close their account at any time. Closing the Account by the User means that the further use of the Services with the use of current password and login shall no longer be possible. To close the Account, the User needs to write a relevant request to GM.Money via the ticket system available on the Website or via email [email protected] from the contact email that the User has provided GM.Money. GM.Money may request for the User to perform two-factor identification or additional KYC information. When the User’s request to close their Account is approved, the User will be given 10 business days to withdraw all their funds from their Wallet and close any open request of the User, after which, the Account will be closed and the User will no longer have access to any funds that have not been withdrawn.

The User is responsible for closing their Account.

GM.Money reserves the right to close the Account due to gross infringement of the provisions of these Terms or any internal policies of GM.Money or in the event of illegal use of the Services upon notice to the User. GM.Money may also temporarily suspend the User’s access to his Account or the Services if GM.Money suspects that the User has failed to comply with these Terms, poses an unacceptable fraud risk to GM.Money, or if the User provides any false, incomplete, inaccurate or misleading information until the circumstances are fully clarified.

GM.Money shall not be liable for damages suffered by the User arisen due to the closing or termination of the Account or suspension of the access to the Services, in case of a breach of by the User of these Terms, any statutory requirements, or for other reasons arising from the fault of the Customer.

Once an Account has been closed, it cannot be re-opened in the future.

Rights and obligations of GM.Money

The User acknowledges that GM.Money has the following rights:

  • to reject, cancel, delete or adjust any Orders the User may place;
  • to suspend the User’s Account;
  • to correct any Orders of the User deemed necessary by GM.Money for the proper provision of Services under the Agreement;
  • to restrict access to, impose limits on, suspend, stop or cancel use of the Website (including, without limitation, discontinuing the User’s use of the API) either generally or for particular Cryptocurrencies, Fiat currencies, Orders or Users, or to discontinue transmission of any or all information;

GM.Money may refuse to facilitate or proceed with any Orders or refuse access to the Website at GM.Money’s sole discretion, as a result of any of the following:

  • full or partial failure of the Website, including failure of technology or any of the communications linked to the Website or the Services and the User and/or any of the counterparties, or any other circumstance in which it is deemed impractical to use the Website;
  • breach of the Website’s security.

Privacy Policy

Please refer to the Privacy Policy for information about how GM.Money collects, uses and discloses information about its Users.


GM.Money reserves to right to charge and also not to charge any fees for the usage of Services. The User agrees to pay to GM.Money the fees for the usage of the Services as set forth on the Website as published, amended, and updated from time to time by the sole discretion of GM.Money. The applicable fees will be shown prior to using the respective Services, conducting transactions or any other operations through the Website.


It is the User’s sole responsibility to determine whether, and to what extent, any taxes apply to any transactions the User conducts through the Website or are associated with the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities.

Risks associated with the Services

Any activity related to Cryptocurrencies carries significant risks. Prior to using the Services, the User should carefully consider such risks.

The User agrees to:

  • carefully considered the risks involved in purchasing and holding Cryptocurrencies and acknowledge that the Cryptocurrencies may fluctuate in their value.
  • acknowledge the uncertain nature of Cryptocurrencies (including, but not limited to, the risk of unknown vulnerabilities in or unanticipated changes to the network protocol) and, that Cryptocurrencies are not regulated by any central bank nor other government authority, and do not constitute a securities instrument.

If the User is in any doubt as to the actions the User should take, GM.Money encourages the User to consult with a legal, financial, tax or other professional advisor(s). If any of the risks are unacceptable to the User, the User should not use the Services.

A detailed description of the risks associated with the Services is available in the Risk disclaimer available on the Website.

The User acknowledges and agrees that they will access and use the services at their own risk.

Restricted jurisdrictions

The following jurisdrictions are considered as restricted jurisdrictions by GM.Money:

    Region: Africa
    Algeria, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Comoros, Congo, Congo, Democratic Republic, Cote d'Ivoire, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libyan Arab Jamahiriya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Rwanda, Saint Helena, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia, Zimbabwe.

    Region: Asia
    Afghanistan, Bangladesh, Bhutan, British Indian Ocean Territory (UK territory), Brunei Darussalam, Burma (Myanmar (formerly Burma)), Cambodia, Iran, Iraq, Japan, Jordan, North Korea, Lao People's Democratic Republic, Lebanon, Nepal, Oman, Pakistan, Palestinian Territory, Philippines, Qatar, Syrian Arab Republic, Timor-Leste, Vietnam, Yemen.

    Region: Europe
    Abkhazia, Albania, Azerbaijan, Belarus, Bosnia and Herzegovina, Germany, Guernsey, Holy See (Vatican City State), Israel, Jersey, Macedonia, Moldova, Montenegro, Russian Federation, Serbia, Svalbard and Jan Mayen, Turkey, Ukraine.

    Region: North America
    Anguilla, Antigua and Barbuda, Aruba, Barbados, Bermuda, Bonaire (Netherlands), Canada, Cayman Islands, Cuba, Curaçao (Netherlands), Dominica, El Salvador, Guadeloupe (France), Guatemala, Haiti, Honduras, Jamaica, Martinique, Montserrat, Nicaragua, Panama, Saint Barthélemy, Saint Kitts and Nevis, Saint Lucia, Saint Martin (French Part), Saint Pierre and Miquelon, Sint Maarten, Trinidad and Tobago, Turks and Caicos Islands, United States of America, Virgin Islands (British), Virgin Islands (U.S.).

    Region: South America
    Bolivia, Bouvet Island (Norway), Colombia, Ecuador, Falkland Islands (Malvinas), French Guiana, Guyana, South Georgia and the South Sandwich Islands, Suriname, Venezuela.

    Region: Oceania and Australia
    American Samoa, Cook Islands, Fiji, French Polynesia, Guam Kiribati, Marshall Islands, Micronesia, Nauru, New Caledonia, Niue, Norfolk Island, Northern Mariana Islands, Palau, Papua New Guinea, Pitcairn, Samoa, Solomon Islands, Tokelau Tonga, Tuvalu, Vanuatu, Wallis and Futuna.

Trademarks and Intellectual Property

The User explicitly acknowledges that GM.Money is and remains the sole owner of the Services and/or other intellectual property rights relating thereto. The Websites and all information, content, material, graphics, products, website addresses, and layouts and services included on or otherwise made available to the User through the Website are the exclusive property of GM.Money and are protected under applicable law. All such rights and goodwill are, and shall remain, vested with GM.Money.

The User may only use the Website and/or the Services only for personal, lawful and non-commercial use. Any other use of content of the Services is strictly prohibited and the User agrees not to infringe or enable others to infringe GM.Money’s intellectual property rights.

The User may not sell or modify materials derived or created from the Services or reproduce, display, publicly perform, distribute or otherwise use the materials in any way for any public or commercial purpose. The User’s use of the materials on any other website or on a file-sharing or similar service for any purpose is strictly prohibited. The User may not copy any material or content derived or created from the Services without prior written permission from GM.Money.

Without prejudice to the right of the User or any third-party to challenge the validity of any intellectual property of GM.Money, the Customer shall not perform or authorize any third-party to perform any act which would or might invalidate or be inconsistent with any intellectual property of GM.Money – including without being limited to any patent, copyright, registered design, trade mark or other industrial or intellectual property rights – and shall not omit or authorize any third-party to omit to do any act which, by its omission, would have that effect.

The Website may contain links to third-party websites on the internet. These third-party websites may contain information or material that some people may find offensive or inappropriate. Third-party websites might also refer to their own initiative to the Website(s). The User acknowledges that the third-party websites are not under the control of GM.Money. The User also acknowledges that, whether or not such websites are affiliated in any way with GM.Money, GM.Money is not responsible for the accuracy, decency, legality or any other aspect of the content of such websites.

The User undertakes to notify GM.Money of any actual, threatened, or suspected infringement of any intellectual property rights of GM.Money which comes to the User’s notice, and of any claim by any third-party due to use of the Services.


GM.Money makes great efforts to guarantee the highest quality of its operations to ensure accessibility and continuity of Services in accordance with their use and purpose. However, no long-distance data transmission, guarantees 100% security, continuity, and accessibility of the Services.

The Website and Services are provided on an “as is” and “as available” basis, with all faults, and GM.Money expressly disclaims all warranties, representations, and conditions of any kind arising from or related to these Terms or the User’s use of the Website and Services including the implied warranties of merchantability and fitness for a particular purpose. The User acknowledges that, to the extent allowed by applicable law, all risk of use of the Website and Services rests entirely with the User.

Limited liability




GM.Money is not responsible for delays or failures in the handling of orders arising as a consequence of any problems in the telecommunications, computer and other systems; block or closure of the accounts, freezing or holding of funds, denial of service; change of political regimes, civil strike; and actions of third parties, which are beyond the control of GM.Money.

Cap on Liability



The limitations set above will not apply to damages caused by the gross negligence, fraud, or willful misconduct of GM.Money, or to the extent such limitations are precluded by applicable law (in which case GM.Money’ liability will be increased to the minimum amount required to comply with such law).


The User agrees to indemnify GM.Money its subsidiaries and affiliates, beneficiaries, owners, shareholders, members of the board, directors, representatives, attorneys, officers, managers, employees, agents, and contractors against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages incurred due to (i) the User’s use (or misuse) of the Services, (ii) the User’s violation of these Terms, or (iii) the User’s violation of other policies, guidelines or instructions of GM.Money, or (iv) the User’s violation of any applicable law, regulation, or rights of any third party during the User’s use (or misuse) of the Services.

Entire Agreement

This is the entire agreement between the parties and supersedes any other agreement, representations (or misrepresentations), or understanding, however, communicated.

Complaints resolution

In the event of an infringement of the User’s rights with respect to the Services, please send a complaint to [email protected]. The User shall have to apply to GM.Money no later than within three months after the day when the User became aware or ought to have become aware of an infringement of their rights or lawful interests. All complaints will be examined and the User will be contacted as soon as possible, but not later than within 14 days.

User’s right to turn to the State Consumer Rights Protection Authority

In a case where GM.Money has refused to resolve the User's complaint, or the User does not agree with the solution offered by GM.Money and considers that the User’s rights have been violated or the User’s interests have been harmed, the User may lodge a complaint concerning with the State Consumer Rights Protection Authority of Republic of Lithuania.

Applicable legislation and disputes resolution

The legislation of Republic of Lithuania shall be applied to the Terms. Any court action between Genesis and the User shall be resolved in the Vilnius District Court which has exclusive jurisdiction for resolving disputes arising under the Terms.

Contact information

If You have any questions with respect to the Agreement the Website or the Services please contact GM.Money via the ticket system available on the Website or via email at [email protected] and a member of the GM.Money support team will be happy to help You.