Terms and Conditions

Terms and Conditions

Terms and Conditions (Public Client agreement).

1. Introduction

  1. By reading and accepting button “I agree” to all services operated by Bit2Bit OU, registration number 14613172 (hereinafter referred to as “the Company”), registered address Harju maakond, Tallinn, Kesklinna linnaosa, Estonia pst 5-kontor 401A, 4. korrus, 10143, Estonia, via website http://bitobit.io/ and using the services (hereinafter referred to as “Service”) you acknowledge that you have read, accept and agree to the Terms and Conditions of this agreement. The Company may at any time, without notice, amend the Terms of this agreement. If you do not agree to any term of these Terms and Conditions, you are required not to use the Services. You confirm to check this Agreement periodically. This Agreement is the agreement between you (hereinafter referred to as (“you”, “your” or “User”) and the Company.

2. Description of Services

Definitions:

  • Crypto/digital asset – any supported Digital Assets presented on the Company`s platform;
  • Asset Balance – summarized quantity of each Asset;
  • User/Client – any person, private or legal, designated by the Company to have access to the personal digital wallet. The wallet is owned and controlled by the User;
  • Blockchain Address – it is used to receive and send funds on the blockchain network;
  • Fiat – Euro and/or other currencies as determined by the Company from time to time;

3. Registration and Service provision

  1. The Company establishes a User Account in your name only. The Company in its sole discretion may deny the option to open an account to use the Services (the “Account”), freeze, block or close an Account without any further notice or justification.
  2. The Service allows users to exchange the Fiats to crypto assets and keep crypto assets in balances as well as send and receive crypto assets from another crypto wallets by using blockchain technology.
  3. By opening an Account, you agree the next:
    • to provide your real name, email address;
    • to accept the Terms and Conditions https://bitobit.io/terms-and-conditions/, Risk disclosure statement https://bitobit.io/risk-disclosure-statement/, GDPR policy https://bitobit.io/privacy-policy/ and AML/KYC policy https://bitobit.io/anti-money-laundering-and-kyc-policy/;
    • you are no younger than age 18;
    • you act on your own behalf and do not represent other person;
    • you accept responsibility for keeping login credentials and protecting it from usage of third parties;
    • you agree to provide the Company with such identity verification information as it may request for the purposes of verifying your identity or purchase transaction;
    • not use Company’s service for any malicious or unauthorized purpose;
    • to update your contact information at any time by accessing your account settings on the Site.
    • using the Services involves significant risks. You may lose Crypto Assets, your Assets may lose some or all of their value, you may be unable to acquire, transfer it, you may, as a result of your activities, you may be unable to receive financial benefits available to other holders of Crypto Assets, and you may suffer other types of financial losses. You agree and understand that Supported Crypto Assets are new forms of assets, that the law regarding their ownership and transfer is developing and uncertain, and it poses certain risks that are not present in the case of more traditional asset classes; and you further agree and understand that you will bear such risks and the potential loss or diminution in value of Supported Digital Assets due to changes or developments in the law or conditions under existing law in which your rights in and to such Supported Digital Assets are not adequately protected;
    • using Services does not constitute a breach of your home jurisdictions.
    • any withdrawal address you provide is your own as well as you are responsible for all crypto addresses you are going to send the Crypto Assets;
    • you hereby warrant and represent that you are not a resident and/or national of the United States of America, Israel, Financial Action Task Force (FATF) high risk and other monitored jurisdictions country list and/or you appear in any international and/or national sanction lists.

4. Fees

  1. You agree that we deduct a fee denominated in the respective Asset type from the Assets held by us or denominated in the Euro from the client`s Euro balance.
  2. The Fee will be displayed on the Website prior to each transaction. By using our service you agree to pay fees according to that calculation.
  3. The fee for deposit transactions is 0,5% of the amount of wire received. This fee can vary depending on payment solution that client uses to deposit money.
  4. The cards deposits are free of charge.
  5. The basic fee for exchange from Fiat to Crypto and from Crypto to Fiat is 6.5%. But as cryptocurrency market is highly volatile, this fee can fluctuate. Fee will be displayed on the Website prior to each transaction.
  6. The Company may charge an additional commission for withdrawals including fees for wire transfers. Depending on the payment solution the fee may be 25 – 50 Euro for every wire transfer. The mentioned fee will be deducted from the wire transfer. The Company may adjust such fees in its sole discretion.

5. Limits and execution:

  1. The minimum amount of one deposit by Wire is 500 EUR in equivalent;
  2. The minimum amount of one deposit by Credit Card/AMP is 200 EUR in equivalent;
  3. The maximum amount of one deposit by Credit Card/APM is 500 EUR in equivalent;
  4. The maximum amount of one deposit by Wire Transfer is 100 000 EUR in equivalent;
  5. The minimum/maximum amount of Crypto deposit is unlimited;
  6. The deposits from third parties are strongly prohibited.
  7. Countries we don’t service:

    Afghanistan, Algeria, Angola, American Samoa, Bahamas, Barbados, Belarus, Benin, Botswana, Burma, Burundi,  Cambodia, Cape Verde, Central African Republic, Congo, Cote d’Ivoire (Ivory Coast), Cuba, Ecuador, Eritrea, Ethiopia, Former Liberian Regime of Charles Taylor, FYR of Macedonia, Ghana, Guinea-Bissau, Guam, Haiti, Iran, Iraq, Israel,  Jamaica, Kenya, Laos, Lebanon, Libya, Mali, Mauritius, Mongolia, Myanmar, Nicaragua, North Korea, Pakistan, Panama, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, Syria, Tanzania, Trinidad and Tobago, Tunisia, Uganda, Venezuela, Yemen, Zimbabwe, Liberia, Sierra Leone, Paraguay, Mongolia, Mozambique, USA.

6. Termination of the Terms

  1. We reserve the right to terminate these Terms and close your Account and registration (including your username and password) in the following cases:
    • if for any reason the Company decides to discontinue to provide the Service;
    • if the Company believes that you have breached any of the terms of these Terms, immediately without notice;
    • the account is subject to a governmental proceeding, criminal investigation or other pending litigation;
    • the Company detects unusual activity in your account;
    • the Company detects unauthorized access to your account.

7. Delivery

  1. Fiat client deposits are accepted via SEPA transfers. Client uses details, provided by e-mail, to deposit to account. 
  2. For card deposits, only cards owned by client (you are a cardholder) and protected by 3d Secure can be used.
  3. Client orders services by operating user cabinet functions. Transaction request is considered a client’s order to provide service. 
  4. Service is considered provided when, depending on type of the operation:
    • operation of Buy/Sell of Crypto on the platform is finished, and the end result is displayed in user cabinet and reflected in database;
    • Fiat or Crypto deposit is approved and credited to client’s account, and the end result is displayed in user cabinet and reflected in database;
    • withdrawal of Fiat from client’s account is completed, and operation is submitted to the bank;
    • withdrawal of Crypto from client’s account is completed, and Crypto is sent to client’s wallet, indicated in request.

8. Refund and Withdrawal policy

  • A client can proceed with any outgoing transactions (to withdraw Fiat or crypto asset) after client`s account is verified only.
  • A withdrawal request will be executed within 48 hours.
  • A withdrawal will be sent to the client`s personal banking account or crypto wallet only.
  • If the client in 14 calendar days does not provide documents, required by the Company for identity or payment verification, the Company will make a refund to the card or through wire transfer to the account from which the funds had arrived.
  • In case if Company assesses risks, connected to client or transaction, unacceptable, client will be rejected immediately.
  • If the verified Client wants to make a withdrawal, he must generate Withdrawal request in his/her account following his available balances. No partial or full refunds possible for verified clients. Having accepted the Service and passed through verification process of account opening (see AML/KYC section https://bitobit.io/anti-money-laundering-and-kyc-policy/), a Client agreed to follow rules and procedures of this Client Agreement.

  • Operations with crypto currency are not reversible, to convert funds back client needs to make a new buy/sell operation.

9. Limitation of Liability.

  1. In addition to all other limitations on the liability of the Company contained in this Agreement, the Company shall not be liable to User for any of the following:
    • Any loss or liability resulting from the denial of Service to any person;
    • Any loss caused by a Transaction downgrade resulting from defective or faulty software regardless if owned by the Company;
    • Any loss caused by the acquirer Banks used by the Company;
    • The unavailability of Service caused by the termination of contracts with computer hardware vendors, processors or installers, whether terminated by the Company;
    • The responsibility for the fact that the crypto asset cannot be treated as “security” lies with the owner of digital assets. The Company reserves the right at its sole discretion to prohibit and discontinue any exchanges (as well as any other type of transaction) with the crypto assets if there is any risk or speculations that such assets can be treated as “security”. We follow the best practices to decide whether crypto assets are security or not. However, for the avoidance of any doubt the provisions of this clause shall not constitute or deemed to be construed to constitute any warranty and/or investment, financial, technical, legal or any other professional advice, that any crypto asset available through our Services is not a security.

10. Indemnification

You agree to indemnify and hold harmless the Company, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of the Terms. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of Service. You agree that the Company is not liable for errors arising from its services.

All intellectual property rights relating to all the material used on the Website including, but not limited to, design, structure, layouts, graphical images and underlying source code belongs the Company. All rights are reserved.

You acknowledge that, except as otherwise agreed between the parties in writing, all intellectual property rights of the Operator (in the part that affects its activities) and the Service Provider (in the part that affects its activities).

11. Disputes

  1. You acknowledge that the Company may use third-party payment service providers to process payments between you and the Company, including but not limited to payments in relation to your use of the Services and any transaction executed by you. In such cases, you confirm and consent to the Company providing certain personal information and/or documentation about you, including with respect to a transaction executed by you as needed to complete the transaction and/or as required under any inquiry or in the event of detection of fraud or suspicion of such.
  2. Except with respect to disputes related to the enforcement or validity of the Company`s intellectual property rights, all disputes, controversies or claims arising out of or relating to the Services or these Terms, including any question regarding the existence, validity or termination of these Terms, shall be referred to and finally resolved by the Company.
  3. Arising out of or relating to this Agreement or the breach thereof, the Parties agree first to negotiate the issue in good faith for a period of not less than thirty (30) days following written notification of such controversy or claim to the other Party.
  4. Clients is obliged to keep in safety and security their password and Account details. In case of loss or potential fraud the User must immediately inform the Company.

12. Third-Party Websites and Content.

  1. The Platform may contain links to websites owned or operated by parties other than the Company. Such links are provided for client’s reference only.
  2. The Company does not monitor or control resources outside the Software and is not responsible for their content. Accordingly, the Company does not bear any liability arisen in connection with client’s access or use of the third-party content.

13. Other terms

  1. The English version of this Agreement shall prevail in case of differences in translation.
  2. All communications and documents to be made or given pursuant to these Terms and Conditions must be in the English language.
  3. These Terms and Conditions constitute the entire agreement and understanding of the Parties and include GDPR policy, Risk disclosure statement, AML/KYC policy.
  4. This Client agreement and any legal relationship will be governed by and construed in accordance with law of Estonia.
  5. The Company can change this Client Agreement in any time at its sole discretion. The changes take effect in 2 (two) days after the moment the new version of Client agreement or its parts are published on the Site. If the Client does not accept new version of the Client Agreement, he/she must stop using the Service and inform the Company.

Last update: 22.11.2021