Valid as of January 10, 2019
By signing up to use an account through Bitchange.Online, or any of our associated websites, APIs, or mobile applications (collectively the "Website"), you agree that you have read, understood, and accept all of the terms and conditions contained herein.
Capitalized terms in these Terms shall have the following meaning:
Funds mean Digital Currency and/or Fiat currency.
Account means a user account accessible via the Services where Funds may be stored by Bitchange on behalf of a user.
Fiat currency: means government-issued currency that is designated as legal tender in its country of issuance through government decree, regulation, or law.
Digital Currency means Bitcoins, Ethereum and other digital assets that may be purchased, sold or traded via the Services.
Digital Currency Account means any Digital Asset address or account owned or operated by you that is maintained outside of the Services, and is not owned, controlled or operated by the Company.
REGISTRATION AND ACCOUNT ELIGIBILITY
By opening an account to use the Services (“Account”), you expressly represent and warrant that:
- you have read, understood, and accept these Terms;
- you are at least 18 years of age (or the age of majority in your country of residence and no younger than age 18);
- you are of sound mind and capable of taking responsibility for your own actions, and have the full legal capacity to accept these Terms and enter into a transaction involving Digital Assets (as defined above);
- if you are registering to use the Services on behalf of a legal entity, you represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf;
- you will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms;
- you will not register more than one Account with Bitchange; and
- all information and details that you submit to us during the initial registration process, and thereafter (including as part of any use of the Services), are true, current, complete and not misleading and, as appropriate, match the name(s) on the credit/debit card(s) or other payment accounts to be used to receive Fiat Money (defined below) in exchange for the Digital Asset.
KNOW-YOUR-CLIENT ("KYC"), ANTI-MONEY LAUNDERING (“AML”) AND COUNTER TERRORIST FINANCING (“CTF”) PROCEDURES
As part of our commitment to combat financial crimes, we have implemented procedures and systems aimed at allowing us to identify and mitigate the risks our Website and Services being misused for illegal purposes. These include our KYC and AML procedures, which are based on our collection of information about our Users, the assessment of AML risks associated with their activities, and the ongoing monitoring of transactions made by them.
Where we have any suspicion that our business relationship with you, or a specific transaction which you wish to make, involve any risk of money laundering, terrorism financing or any other financial crime or prohibited activity, we may, at our sole discretion, refuse to accept you as a client, terminate any engagement with you, refuse to process any transaction, and take any other action we deem necessary, including reporting our suspicion to the competent legal authorities. We will not be obligated to inform you of any such action we choose to take, nor to provide you an explanation of our reasons for taking them or for our suspicions.
ACCOUNTS, VERIFICATION, AND ACCESS.
Confidentiality of your Account. You acknowledge that you are responsible for maintaining the strict confidentiality of your Account information, including your password, safeguarding your own Digital Currency, and for all activity and transactions that are posted to your Account. You understand that any compromise of your login information may expose your Account to unauthorized access by third parties which may result in loss or theft of Digital Currency or funds from your Account, including linked accounts, such as your linked bank accounts and credit cards.
Identity Verification. Identification and verification procedures (also known as 'KYC') are required for all the transactions. All existing and new users must pass the verification procedure. The limits that apply to your use of the Services depend on your verification level and may be altered as a result of information collected on an ongoing basis. You agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information.
The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number).
We may request that copies of such documents are notarized at your own expense, with a stamp and attestation or certification by a public notary. Should the documents fail our internal security checks for any reason, such as upon suspicion of tampering, or due to suspicious or proven misrepresentation, we shall be under no obligation to accept such documents as valid, and under no obligation to provide feedback on the exact nature of our findings with regards to these documents. In addition, we may request that you participate in a phone or video call to verify your identity.
You agree to keep us updated if any of the information you provide changes.
The aforementioned notwithstanding, Company may, at any time, and in its sole discretion, deny you the option to open an Account, limit the Account that you may establish and maintain, or suspend any transaction pending our review of any information submitted by you.
Access. There are no special technical requirements to use the Service. Nonetheless, to access the Services, you must have the necessary equipment (such as a smartphone, PC or tablet) and the associated telecommunication service subscriptions to access the Internet. The Services can be accessed directly using the Website.
YOUR RIGHTS AND RESPONSIBILITIES
You have the right to use the Services, as long as you agree to and actually comply with these Terms.
You undertake to monitor all and any changes on your Account and immediately inform Company about any unusual, suspicious, unclear or abnormal changes on your Account or/and any unauthorized use of your Account or password, or any other breach of security. Otherwise, you will be responsible for any loss or damage you, Company and/or third parties may incur as a result.
You undertake not to use the Service to perform a criminal activity of any sort, including, but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking. You are responsible for any and all damages caused and all liability actions brought against the Company for infringement of any third party rights or violation of any applicable laws.
You can make use of the following Services provided by the Company:
- Purchase and sale of Digital Currency. We offer a simple and convenient way to trade traditional fiat currencies (such as Euros) for digital currency (such as bitcoins and ethereum) and vice versa and to trade one type of digital asset for another type of digital asset. You may also use our Services to purchase and sell digital currency directly from and to us. Please note that the range of services available to you may depend in part upon the country of residence and your verification level.
- Crypto accounts (a wallet for the majority of crypto and fiat currencies).
- Crypto cards (plastic payment cards tied to a crypto-wallet) for online and offline shopping.
- Payments and transfers (between multicurrency and conventional crypto-wallets), including P2P money transfer by telephone number or e-mail address.
- Escrow accounts (accounts with confirmation of transactions by the certified party).
- Accepting online payments in Digital Currency (for companies).
All services rendered by the Company are provided on a non-refundable basis. In case you feel that the service details provided to you are not as per your expectations, you must bring it to the attention of our Support Team at [email protected] After looking into your complaint we will take an appropriate decision.
LIMITATIONS OF LIABILITY; RELEASE
THE SERVICES AND THE SITE ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. THE COMPANY SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, SATISFACTORY QUALITY, FITNESS FOR A PARTICULAR PURPOSE AND/OR NON-INFRINGEMENT. THE COMPANY DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT YOUR ACCESS TO THE SOFTWARE, THE SITE, THE SERVICES, AND/OR ANY PART OR MATERIALS MADE AVAILABLE THEREIN, WILL BE COMPLETE, ERROR-FREE, CONTINUOUS, UNINTERRUPTED, ACCURATE, THAT DEFECTS WILL BE CORRECTED, AND/OR THE SOFTWARE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES AND BUGS, AND MAKES NO REPRESENTATION PERTAINING TO THE FULL FUNCTIONALITY, ACCURACY, RELIABILITY OF THE MATERIALS AND/OR AS TO RESULTS, OR THE ACCURACY OF ANY INFORMATION OBTAINED BY YOU THROUGH THE SERVICES, SOFTWARE AND/OR SITE. THE ENTIRE RISK AS TO THE USE, QUALITY, AND PERFORMANCE OF THE SOFTWARE, SERVICES AND/OR SITE LIES WITH YOU.
THE COMPANY HAS NO OBLIGATION TO MAINTAIN YOUR ACCOUNT NAME OR PASSWORD. THE COMPANY SHALL NOT BE LIABLE IF YOU MISPLACE, FORGET OR LOSE YOUR ACCOUNT NAME OR PASSWORD BECAUSE OF ANYTHING OTHER THAN THE COMPANY'S NEGLIGENCE.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL THE COMPANY, ITS AFFILIATES OR SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE TO YOU OR ANYONE ON YOUR BEHALF, FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, INTANGIBLE, OR CONSEQUENTIAL DAMAGES OR LOSS OF ANY KIND, INCLUDING WITHOUT LIMITATIONS, LOSS OF BUSINESS, PROFITS, REVENUES, DATA, CONTRACTS OR ANTICIPATED SAVINGS; AND/OR LOSS OR ANY DAMAGE, ARISING FROM YOUR USE OF THE SITE, SERVICES OR SOFTWARE - WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SOFTWARE, SITE AND/OR SERVICES.
WE SHALL NOT BE LIABLE TO YOU IN ANYWAY WHATSOEVER FOR THE TRANSFER OF ANY AND ALL DIGITAL CURRENCY IF YOU PROVIDE US WITH ANY INCORRECT AND/OR INCOMPLETE, PUBLIC KEY, AND/OR VIRTUAL WALLET ADDRESS DETAILS. IN ADDITION, WE SHALL NOT BE LIABLE TO YOU IN ANY WAY WHATSOEVER FOR THE TRANSFER OF ANY AND ALL FIAT MONEY IF YOU PROVIDE US WITH ANY INCORRECT AND/OR INCOMPLETE PAYMENT DETAILS.
The Company specifically makes no warranties, representations or guarantees regarding the time required to complete processing any request provided by you, including electronic debit or credit using credit cards, bank accounts or checks, which are dependent upon many factors outside of the Company’s span of control. Without derogating from the aforementioned, the Company makes efforts to process your requests in a timely manner.
Although the Company intends to provide accurate and timely information on the Site and/or Software (including, without limitation, the Content), the Site may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Site are your sole responsibility and we shall have no liability for such decisions.
Release. Any disputes between you and any other user of the Site shall be exclusively resolved between you and such user, and you release the Company, its affiliates and service providers, and each of their respective officers, directors, agents, joint ventures, employees and representatives from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
INTELLECTUAL PROPERTY RIGHTS
All content of the Services, including software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials, is the property of Bitchange OÜ and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified hereby or/and in the interface of our website or/and mobile apps.
All content of the Services should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated, in any other way than it is expressly provided by the functionality of the Services. Any unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal or civil penalties.
NO FINANCIAL ADVICE
For the avoidance of doubt, the Company does not provide any investment advice, recommendation, or guidance, whether in connection with the Services or otherwise. We may provide information on the price, range, volatility of Digital Currency and events that have affected the price of Digital Currency, but this is not considered investment advice and should not be construed as such. No communication between us and you should be considered any form of investment advice. Any decision to purchase or sell Digital Currency is your exclusive decision at your own risk and the Company will not be liable for any loss suffered. You should consult your own legal and/or tax advisors concerning your specific financial situation.
LACK OF FINANCIAL REGULATION
RISK WARNING NOTICE
Investing in cryptographic blockchain-based digital information units is highly speculative with a risk of loss of the entire capital invested. Such investment is only suitable for users, who can bear a loss of the entire invested capital.
Investing in cryptographic blockchain-based digital information units means investing in something totally new and unpredictable. Such investment is only suitable for users, who want to take maximum risk.
Cryptographic blockchain-based digital information units are no currencies or means of payment and are neither accepted by states, central banks nor must a private person accept them in any way.
Digital Currency trading may be susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse relative to demand and supply. For example, confidence in Digital Assets might collapse as a result of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems, for example, if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent transactions from settling.
Transactions in the Digital Currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. There is also a possibility that нour transactions may be canceled or remain unconfirmed on blockchains.
You use Bitchange Services at your own risk.
Amendments. The Company may make changes to these Terms, including when there are changes in our Services, technology, regulation, and for other reasons. If we do, we will provide you notice of such changes by posting the updated these Terms on our website. Any amended Terms will become effective no earlier than 7 days after they are posted. In some exceptional cases, e.g. such changes addressing new functions of the Services or made for legal reasons, the changes will be effective immediately. Your continued use of the Services following the effective date of such changes will constitute your acceptance of such changes. If you do not agree to any amended Terms, you must discontinue using the Services and contact the Company to close Your Account.
Severability. The invalidity or unenforceability of any provision of these Terms shall not affect the validity or enforceability of any other provision of these Terms, all of which shall remain in full force and effect.
Force Majeure. Neither party shall be liable for any inaccuracy, error, delay in, or omission of the transmission or delivery of information; or any loss or damage arising from any Force Majeure.