Damex Earn
Terms & Conditions

V1.1 / Jun-07-24

  1. By consenting to these Terms and Conditions, Damex hereby offers Users the opportunity to opt-in to a reward programme whereby the User selects to subject their nominated Digital Assets, to a Lock-Up (the “Damex Earn Rewards Programme”)
  2. By selecting to participate in the Damex Earn Reward Programme, the User shall be entitled to receive a fixed number of the same Digital Asset to be calculated and allocated to the User, into the nominated Wallet associated with their User Account. Each Damex Earn Rewards Programme shall be referred to as a “Programme the User, shall remain under the User’s sole legal ownership. Each Damex Earn Rewards Programme shall be referred to as a “Programme”

  1. The Lock-Up means a certain period of time whereby a User agrees to be prevented from selling, transferring, swapping, or otherwise withdrawing a specific amount of a Digital Asset in their ownership in their relevant Wallet, whereupon that specific amount shall be expressed as “Locked Balance” as opposed to “Available Balance”, with an additional amount of that Digital Asset being rewarded to them for not redeeming the Locked Balance for the entirety of that certain period of time  (“DE Reward”), and with such DE Reward expressed as an annual percentage rate (“DE Reward Rate”).

  1. The DE Reward shall be calculated as compounding on a daily basis, in that the DE Reward Rate shall apply to the Digital Assets that have accrued daily from the moment that the User has opted into a Programme until the end of the Programme.
  2. A User who opts-in to a Programme shall have the right to opt out at any time before the end of the Lock-Up Period. However, upon opting out, the User shall not be entitled to receive any DE Reward accrued under that Programme and the initial opted-in Digital Asset shall be credited back to the User’s Available Balance.

  1. The critical time period for defining a Lock-Up Period and for calculating the number of Digital Assets allocated under the DE Reward Rate for any given Programme shall be daily from 00:00 to 05:00 CET, being the settlement window. Users can enter a Programme before 23:59:59 CET on the day immediately prior to the Programme’s commencement date. The allocation of DE Rewards will occur within four (4) hours after the daily settlement window and the Locked Balance will be released if the Lock-Up Period has expired..

  1. Each Programme shall stipulate a total number of the relevant Digital Assets that are available to receive as DE Rewards for Users (“Available Quota”).

  1. Each Programme shall have a maximum number of the relevant Digital Assets available for a User to Lock-Up available to view on the App (“Personal Quota”).

  1. Damex reserves the right to unilaterally state or amend the DE Reward Rate, the Available Quota and the Personal Quota at any time at its sole discretion.

  1. Any DE Reward that has accrued on a daily basis shall be expressed as a credit to the relevant Wallet belonging to the User, and Damex reserves the right to remove that credit at any time whether or not a User fulfils the terms of the Programme.

  1. Upon the completion of a Programme, any User who has chosen to opt-in to automatic renewal shall find the following:

  • Where a User’s Available Quota and/or Personal Quota have not reached their maximum limits, the total number of the Digital Assets being locked [initial number + rewards] shall be enrolled into the Programme.

  • Where a User’s Available Quota and/or Personal Quota have reached its maximum limit(s), the same number of the Digital Asset as initially submitted [initial number] shall be re-enrolled into the Programme.

    The User understands and agrees that the DE Reward Rate for any subsequent Programme may differ from the DE Reward Rate of the previous Programme.

    A User may opt-in to or opt-out of automatic renewal at any time without affecting the terms of the Programme to which they had submitted Digital Assets

    In the event Damex terminates a Programme, users can no longer opt-in. Digital Assets locked in a pending Programme shall be released in full and credited to the User’s Available Balance at the end of the Lock-Up Period, regardless of the auto-renewal settings.  

  1. Damex reserves the right, at its sole discretion, to make any Programme or Damex Earn operation available or unavailable to any User without compensation or notice.

  1. By accepting these terms and conditions, a User acknowledges and agrees to the following:

  • Digital Assets submitted to any Programme by a User are subject to Damex acting as a Digital Asset Custodian. During the term of any Programme, Damex does not have the capacity to manage or control the state or position of any Digital Asset beyond its role as a Digital Asset Custodian; and

  • Users shall not utilise any Damex Earn Programme for any purpose other than attempting to receive the DE Reward as stated.

Discover Damex App

Mobile Payments

Your Instant, Easy, and Safe Mobile Payment App

Exchange of fiat and digital assets

Simplify Your Asset Exchange Experience

Accounts

We’ve got the right solution to keep your funds safe

Step gamification

Turn Your Finances into a Rewarding Adventure!!

Damex Co-branded Visa Card

Swipe, Shop, and Celebrate: Financial Freedom with Damex Visa Cards!

Cashback

Unlock the True Potential of Your Finances

Discover Damex Business

Trading

Helping medium and high-risk clients improve the efficiency and profitability of their global payments processes

IBANs

Accessing corporate bank accounts has become more and more difficult over recent years, particularly for companies deemed to be medium or high risk.

Custody Solutions

Damex offers three alternative custody solutions.

About us

Find out more about Damex.

Career

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Culture

We are dynamic, we are progressive, we are united.

Team

We are dedicated to make ownership and management of Digital Assets simplified.

Damex
Ziglu Migration

December 2024

Frequently Asked Questions

As you may have read, Damex’s retail arm has been acquired by Ziglu, one of the world’s leading licensed cryptocurrency platforms. We’re ready to officially join forces, so you can benefit from Ziglu’s platform.

If you are a UK or Gibraltar retail customer, we invite you to transfer your account and services with Ziglu. 

If you are an EEA customer migration to Ziglu will be available in phase two, expected in Q1 2025.

The transfer process of your Damex account to Ziglu is simple and secure.

Simply follow the link in your email to create your Ziglu account, where you will be guided through the necessary steps to confirm your account details and agree to Ziglu’s Terms of Service. 

Suppose you are already a Ziglu customer then, good news! In that case, simply email us at [email protected] requesting a balance transfer to your Ziglu account. Once we’ve done all the necessary verification we will connect your Ziglu account and you will see your Damex funds reflected there within 5 business days, at no cost to you.  

Once you’ve been verified as a Ziglu customer, Damex will receive a prompt and any remaining balance on your Damex App will be automatically transferred to your Ziglu account within 5 business days, at no cost to you.

Accounts & Payments

  • GBP Safeguarded Account
  • FPS Deposits & Withdrawals
  • Confirmation of Payee
  • Open Banking – Inbound Payments
  • Peer to Peer payments (transfer instantly to other Ziglu customers)
  • Standing Orders (outbound)

Exchange & Trading Features

  • FX – EUR and USD Exchange
  • Crypto – 15+ curated cryptocurrencies
  • Crypto Price Alerts – daily price notification and volatility notifications
  • Trading types: instant market order / recurring orders / target price orders – exchange when market hits a target price set by the user
  • Crypto – Financial Promotions Assessment (customer required to complete prior to accessing Crypto features)

Crypto Yield Accounts

  • Ziglu Boost accounts with up to 6% yield on 6 currencies
  • Yield paid weekly with instant deposit & withdrawals to the account

Cards [UK only, GIB feature access from 2025]

  • Physical Card
  • Virtual Card
  • Mobile Wallet – Apple Pay & Google Pay

Settings & Other

  • marketing preferences – SMS/ Email/ Push Notification
  • contact customer support – email only

There is no charge to a customer when ordering either a Virtual or Physical card.

Ziglu does not currently support direct debits for the account.  It’s recommended that customers change any required direct debits to a supported account.

  • Ziglu customers can deposit and withdraw GBP onto the platform using their safeguarded account.
  • Customers can also instantly transfer Fiat and Crypto to other Ziglu customers using peer-to-peer transfers
  • Customers are also able to use their GBP, EUR, and USD balances to pay and make purchases at vendors using their Ziglu Mastercard Debit Card

Transactions will be charged to the currency the card has been issued in. Any transactions that take place outside of the issued currency will incur the Mastercard FX rate fee.  When traveling there is the option to temporarily convert currency into either USD or EUR with a favourable FX rate, transactions will then be linked to that currency.  

  • Damex customers have to download the latest version of the Ziglu app from their device app store
  • Customers are then to complete the sign up process to become a Ziglu customer
  • If you’re already a Ziglu customer then X

More information on asset support and services offered by Ziglu for Damex clients can be found here

Not all assets provided by Damex are offered by Ziglu. If you own one of the following assets, you must exchange or withdraw it from the Damex App before signing up with Ziglu:

  • Damex Token 
  • USDT 
  • USDC 
 
If you currently hold Damex tokens and wish to continue trading it after the specified transition date, please note that Ziglu does not offer support for this asset. However, you can still trade (buy, sell & hold) your Damex Token by creating an account with BitMart or AscendEX (BitMax).
 
Here’s what you will need to do:
 
  1. Create a BitMart or AscendEX (BitMax) account: Please use the below links to sign up – BitMart or AscendEX (BitMax)
  2. Transfer Your Tokens: Ensure you transfer your Damex Token to Coinstore before the transition date to avoid any disruptions in trading.
 
Remember, transferring to an ERC-20 address is crucial for compatibility with the above providers platform.
 
If you encounter any issues or need further guidance, please reach out to customer support for assistance.
 
Please act promptly to avoid disruption of your trading activities with Damex Token.

If you do not wish to transfer your Damex account to Ziglu, you can withdraw your assets and close your account.

  • Max number of ATM withdrawals allowed (per day): 10
  • Max number of ATM withdrawals allowed (per 4 days): 30
  • Max value of ATM withdrawals allowed (per day): £500
  • Max number of POS transactions allowed (per day): 50
  • Max value of POS transactions allowed (per day): £10,000
  • Max value of POS transactions allowed (per 4 days): £40,000
  • Max number of Virtual Cards allowed in a 28 day period: 5
  • Max number of Virtual Cards allowed: 20

Apple Pay is currently not present in Gibraltar