Terms of Service
Last updated: 24 April 2025
By using Rype, you accept and agree to comply with the following terms:
Use of Service
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Rype provides a crypto-backed installment payment solution. By using our service, you agree to lock digital assets as collateral for purchases.
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You are responsible for making timely repayments according to your agreed-upon payment schedule. Failure to comply may result in collateral liquidation.
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Payments can be divided into 2, 3, or 4 monthly installments without interest, with the first payment due 30 days after the purchase date.
Account Registration
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You must provide accurate, complete information when registering your account.
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You are responsible for maintaining the security and confidentiality of your account credentials.
Payments and Collateral
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Collateral is required under our Loan-to-Value (LTV) policy for each transaction. Currently, a 50% LTV applies, meaning a purchase of $100 requires $200 worth of crypto collateral.
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If the value of your collateral falls below the required 50% LTV threshold, partial liquidation may occur to maintain adequate collateralization.
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A grace period is provided for late payments. If a payment remains unresolved after the grace period, partial liquidation of the provided collateral will occur to cover the outstanding installment.
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Please be aware that late or missed payments may ultimately lead to the liquidation of your collateral.
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Early repayments are allowed. Collateral is returned within 24 hours following the final or early payment.
Prohibited Activities
You must not:
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Engage in fraudulent or illegal activities.
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Attempt to disrupt or compromise the platform’s security.
Refunds and Changes to Payment Plans
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Purchases are non-refundable due to the nature of delivered products/services.
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Once established, payment schedules cannot be paused, suspended, or modified.
Limitation of Liability
Rype shall not be liable for indirect, incidental, or consequential damages resulting from the use of the platform.
Regulatory Compliance
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Rype services comply fully with relevant financial regulations, KYC, and AML requirements, ensuring secure and lawful use of digital asset-backed credit products.
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Users may be subject to identity verification and compliance checks to ensure adherence to regulatory requirements.
Amendments
These terms may be updated occasionally. Significant changes will be communicated through email or posted notifications.
Governing Law
These terms are governed by the laws of [Insert Jurisdiction].
Contact Us
For questions or further assistance, please contact us at contact@therype.com.