bitexbit Terms of Use
Last amended: December 12, 2020
PLEASE READ THESE TERMS OF USE CAREFULLY. BY CLICKING THE "SIGN UP" BUTTON OR BY ACCESSING OR USING THE SERVICES, YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS OF USE AND ALL TERMS INCORPORATED BY REFERENCE.
These Terms of Use constitute a legal agreement between you (hereinafter the “User” or “you”) and Bitfinity Ltd, company registration number 229871 (hereinafter the “bitexbit” or “we”), that applies to your use of the services provided by bitexbit (hereinafter the “Services”).
You shall not claim to void or rescind this Terms of Use on the ground that you did not read it. You hereby agree to accept and observe this Terms of Use. If you disagree with these Terms of Use or Privacy Policy, please stop registration and do not use Services.
You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with the use of any and all Services, products and content of Bitexbit.
Your personal information providing to the Bitexbit via the Services or arising in connection with the Services is protected according to the Privacy Policy. In some cases, reference to this Terms of Use includes reference to the Privacy Policy and other accompanying documents and rules.
DEFINITIONS
Capitalized terms used in these Terms of Use shall be interpreted in accordance with the definitions provided below:
Account means an account registered by the User on the Website.
Buyer means the User who submits an Order to buy Cryptocurrencies through the Website.
Cryptocurrency means peer-to-peer decentralized digital representation of value (e.g., bitcoins, ethers, etc.).
Deposit means a Transaction involving transfer of Funds to the Account.
Fiat currency means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.
Funds means Cryptocurrency and/or Fiat currency.
Order means the User’s instruction to buy or sell Cryptocurrency.
Personal Information (personal data) means any information which identifies you personally or which may help us to identify you (e.g., your name, address, e-mail address, trades etc.).
Seller means the User who submits an Order to sell Cryptocurrencies through the Website.
Services means all and any service provided by Bitexbit.
Transaction fee means a fee which is payable to Bitexbit for each completed Transaction.
Transaction means:
transfer of Cryptocurrencies or Fiat currencies by the User to his/her Account (“Deposit Transaction”);
transfer of Cryptocurrencies or Fiat currencies among the Users (“Trading Transaction”);
withdrawal of Cryptocurrencies or Fiat currencies from his/her Account (“Withdrawal Transaction”);
User means a person or an entity that uses the Services, agrees to follow the Terms of Use and is a holder of an Account.
Website means website at https://bitexbit.com created by Bitexbit that allows to trade Cryptocurrencies.
Withdrawal means a Transaction involving a transfer of Funds from the User’s Account to his/her bank account or to an account opened in any other financial institution.
THE SCOPE OF THE SERVICES
The Bitexbit provides you with a simple and convenient way to trade Cryptocurrencies with other Users. Our services do not provide Users with the ability to trade one Fiat currency for another Fiat currency.
The Bitexbit provides you with a platform that matches your trades with open Orders from other Users of our Services at your direction. Users are not able to predetermine a trade with a particular user or with a particular account. Additionally, an order may be partially filled or may be filled by multiple matching orders.
The Bitexbit is entitled to provide the Users with additional Services related to ones mentioned above.
ELIGIBILITY AND ACCEPTABLE USE
You hereby confirm that you are an individual with full capacity for civil rights and civil conducts when you complete the registration or actually use the Bitexbit’s Service in any other way allowed by the Bitexbit. If you do not have the said capacity, you and your guardian shall undertake all the consequences resulted therefrom, and the Bitexbit shall have the right to cancel or permanently freeze your account, and claims against you and your guardian for compensation.
Depending on your place of residence, you may not be able to use all the functions of the Website. It is your responsibility to follow those rules and laws in your place of residence and/or place from which you access this Website.
Bitexbit does not transact business with individuals, companies and countries that are on prescribed Sanction’s list. The Bitexbit will therefore screen against United Nations, European Union, UK Treasury and US Office of Foreign Assets Control (OFAC) Sanction’s list in all jurisdictions in which we operate.
USER ACCOUNT
For the purpose of proper use of the Website and access to the Services, you should register on the Website and create an Account with your respective login and password. We reserve the right to refuse to register a new User without indicating the reasons. You warrant that any and all information provided for the purpose of your Account creation and/or any other Website use is valid, current, complete and accurate.
The information that you provide at the time of Account opening must be accurate and complete and you must inform us in a proper time of any changes to such information. You also confirm that all the documents submitted by you are correct and valid. We may require additional information from you to help verify your identity and assess your business risk, such as your date of birth, tax identification number, government-issued identification, etc. If you do not provide us with accurate, complete, and satisfactory information, we will empower to refuse or postpone verification procedure.
You hereby expressly consent that you are solely responsible for the use of your login and password for the Account, for any registration data provided for Account creation, and for any actions done during any use of your Account. You agree to keep your login information and password private and to immediately notify us of any unauthorized Account activity. You may be aware of and modify your login information respectively. You hereby agree not to use a password for your Account that you have already used for other services.
You are solely responsible for not keeping your password secret and secure, providing the access to your Account to third parties, any other deliberate or negligent behaviour that resulted in loss of the Account and any loss or damage you or the Bitexbit may suffer as a result of your failure to keep your password safe. If you share your Credentials with the third party, you agree that you will liable for all transactions using the Services and for all costs, losses or damages incurred by the Bitexbit by this reason.
You are solely responsible for any errors or omissions that you or any third party with access to your Account make in connection with any transaction via the Services.
You may deactivate your registration with the Website at any time by withdrawing your Account balances and contacting us at Customer Support. Termination of the Account will include denial of access to the Services. We retain the information provided by you during the verification process for anti-money laundering purposes for five (5) years from the date of the Account closure. The information will be treated as confidential unless disclosure is required to comply with the applicable law.
We reserve the right to temporary suspend the provision of services at our sole discretion in the following cases:
we have reasonable suspicions that you violate these the Terms of Use;
your account is being used in a fraudulent manner;
we have any security concerns regarding your Account;
additional verification procedures are required for AML purposes;
you fail to pay for Services;
other cases if it is required by the applicable law.
You will get the access to the Services as soon as the indicated above reasons or suspicions cease to exist.
We may terminate your use of and registration with the Website or freeze any transactions on Platform at any time if you violate these Terms of Use or any other accompanying documents, at our sole discretion and without prior notice and without any liability or further obligation of any kind whatsoever to you or any other party, when we find such measures reasonable and/or necessary in a particular situation, without any refunds.
Where we find suspicious information that indicates possible money laundering, terrorist financing or other suspicious activity, we will report that activity in accordance with applicable laws and regulations.
The Services may include certain communications from us, such as service announcements, administrative messages and newsletters. They may be posted on the Website or sent by e-mail. You agree, that these communications are part of the Services use. You may opt out from receiving newsletters; however, you will not be able to opt-out from receiving service announcements and administrative messages. You are solely responsible for the acquaintance with the announcements and administrative messages and for the updating of the communication credentials (e-mail address). You understand and agree that if we send you a message but you do not receive it because of not updating your e-mail address by you, the Bitexbit will be deemed to have provided the message to you.
USER’S REPRESENTATIONS AND WARRANTIES
To use the Services, you shall comply with the following eligibility criteria and restrictions. Thus, by registering an Account, you expressly covenant, represent and warrant, that:
You are at least 18 years old, have full capacity and legal competence to use the Website and the Services and to contract, under the applicable law and law of the country of your residence, with the Bitexbit and in doing so will not violate any other agreement, which you are a party to.
You are aware with Cryptocurrencies and Blockchain-based systems, their storage and transmission mechanisms, full framework and functionality, and you solely take responsibility for any risks, assumptions and decisions involved.
You fully understand all merits, risks and any restrictions associated with Cryptocurrencies (their purchase and use) and Blockchain-based systems, and you are solely responsible for any evaluations based on such knowledge.
You will not use the Services for any illegal activity and you have never conceivably been, engaged in any fraudulent, deceptive and illegal activity, including but not limited to: money laundering and the financing of terrorism.
You will not perform acts aimed at a breach of the normal functioning of the Services or the Website both by means of software and through your direct acts within the Services/Website.
You will not disseminate, launch or use viruses, Trojan horses, and other malware within the Services or the Website; and you will not use automated programs and scripts in particular, for the collection of the information on the other Users or the Services.
You will not perform any acts having the nature of threats, endangering, harassment, discrimination, abuse, deceit, or some other unlawful influence on the other Users; breaching the rights and legal interests of the other Users.
You will not place any content anywhere within the Service, which: propagandize war, violence, discrimination by ethnicity, race, religion, gender or any other reason; propagandize criminal activities; mislead the other Users; contain any other prohibited, abusive, fraudulent or any other illegal information.
You will be liable for all costs, losses and expenses incurred by us by reason of an unauthorized use of your Account as a result of your acting fraudulently or failing to comply with these Terms of use. Thus, you confirm you will reimburse all such costs, losses and expenses to the Bitexbit during 5 (five) banking days from the date of our first demand. If you breach any of the covenants, representations and warranties under the Terms of Use or the applicable laws, we may terminate your Account and take legal actions under the applicable law and these Terms of Use.
TRANSACTIONS
The Website allows you to submit the Orders to buy or sell Cryptocurrencies.
You recognize that the Order should only be submitted after careful consideration and you understand and accept consequences of its execution. You agree that as soon as the Order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the Buyer's and the Seller's Orders without prior notice to the Seller and the Buyer and will be considered to have taken place at the execution date and time.
You acknowledge and agree that you are responsible for properly checking and filling in all Transaction’s details during the Deposit or the Withdrawal of Cryptocurrencies or Fiat.
You acknowledge and agree that in case the Transaction details (recipient's address or bank details) are not specified or incorrectly indicated within the Transaction you may lose your funds.
Minimum and maximum order amount vary for each trading pair and can be seen on the Trade Page when placing an Order.
You acknowledge and agree that Deposit and Withdrawal Transaction in Fiat currency may be delayed due to some bank verifications and checks. Similarly, and due to the inherent nature of the cryptocurrency networks, you acknowledge and agree that depositing and withdrawing Cryptocurrencies into/from your Account may take some time.
In case if the User discovers transaction activity, including but not limited to unknown deposits and withdrawals, on their Account that was not initiated by the User, the User shall immediately notify Bitexbit of this fact and follow the instructions sent by Bitexbit. Otherwise, Bitexbit reserves the right to freeze the Account until the end of investigation.
Bitexbit may be forced to cancel or recall already executed Withdrawal Transaction at a request of financial institutions, including but not limited to banks, which are involved in settlement of such Transactions. In such cases the User obliges to cooperate with Bitexbit in order to discover the reasons for such request.
You acknowledge and agree that, when completing Trading Transactions, you are trading with other Users, and that Bitexbit acts only as an intermediary in such Transactions, not as the counterparty to any trade.
RESTRICTED ACTIVITIES
In connection with your use of the Service, or in the course of your interactions with the Bitexbit, you will not:
breach these Terms of Use or any other policies approved by the Bitexbit and agreed by you;
violate any law, statute, ordinance, or regulation;
infringe the Bitexbit's or any third party's copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
act in a manner that is defamatory, trade libelous, threatening or harassing to our employees, agents or other Users;
provide false, inaccurate or misleading Information;
engage in potentially fraudulent or suspicious activity and/or transactions;
refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
control an Account that is linked to or belong to another User;
take any action that imposes an unreasonable or disproportionately large load on our infrastructure;
write misleading information about the Bitexbit and its product in public, spoil or try to spoil reputation of the Bitexbit’s Services;
facilitate any viruses, trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information;
use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our Website without our prior written permission;
use any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our Website or the Service.
FEES
You agree to pay the Bitexbit the fees for trades completed via our Services as made available via the Fee Schedule, which we may change from time to time. Changes to the Fee Schedule are effective as of the effective date indicated in the posting of the revised Fee Schedule to the Services, and will apply prospectively to any trades that take place following the effective date of such revised Fee Schedule.
In addition to the Fees, your external Account may impose fees in connection with your use of your designated external Account via the Services. Any fees imposed by your external Account provider (e.g., bank, non-bank financial institution, payment service provider, etc.) will not be reflected on the transaction screens containing information regarding applicable Fees. You are solely responsible for paying any fees imposed by an external Account provider.
INTELLECTUAL PROPERTY RIGHTS
Bitexbit exclusively owns all rights, title, and interest in the “BITEXBIT” name and logo, patents, copyrights, trademarks or service marks, designs, trade secrets, and other intellectual property embodied by, or contained on the Website and relating Web-pages, documentation etc. You shall never use any Bitexbit’s logos or marks for commercial and public use without our express permission, unless otherwise explicitly indicated by Bitexbit.
You shall not copy, reproduce, distribute, modify, create derivative works of, publicly display, publicly perform, republish, download, store, transmit or otherwise use any of Bitexbit logos or marks. You also shall not make any public statement or issue any press release related to the Bitexbit services without our express permission. There are no implied licenses under these Terms of Use and all accompanying documents, and any rights not expressly granted to you hereunder are reserved by the Bitexbit. Under these Terms of Use you are entitled to use any logos or marks for your personal, non-commercial purposes exclusively.
LICENSE GRANTED TO YOU
The Bitexbit grants you a revocable, non-transferrable, non-exclusive license to download, install and use its mobile and web apps or for your own purposes. Any web and mobile app license is subject to any limitations or restrictions on the permitted use of the web and mobile app contained in the Online Store Terms where you downloaded the app. This license grant includes the software and all updates, upgrades, new versions and replacement software for your personal use only. You may not rent, lease or otherwise transfer your rights in the software to a third party. You agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code that is derived from the software. You acknowledge that all rights, title and interest to the Bitexbit's software are owned by the Bitexbit.
THIRD PARTY CONTENT
You may be offered services, products provided by third parties, links to third parties’ Websites, web-pages and applications. We recommend you to read the terms of use of the respective third-party Websites, if you decide to use these third-party services. You hereby consent, that you use such third-party services at your own risk and you are solely responsible for reviewing, understanding and complying with the associated terms and conditions. We expressly disclaim any liability for performance and provision of the third-party services.
DISCLAIMERS
The Bitexbit works with Cryptocurrencies, Blockchain-based technologies and other related technologies which are not exclusively controlled by us and technological, regulatory, market or other changes may affect the work of the Services, which relate to Blockchain technologies. Therefore, by registering an Account with Bitexbit, you accept that the Bitexbit shall not be deemed liable, and we disclaim any and all our responsibility for your unavailability or restrictions to use the Services due to:
regulatory changes, including but not limited to changes in intellectual property law or Applicable Law or local law of the country of your residence;
technological advancements, decreases or any other changes, which may cause Cryptocurrencies may dissolve, disappear, be abandoned or otherwise no longer operate, or operate with material impairments;
market changes, which may result in the fluctuations of market values, including, but not limited to Cryptocurrencies etc.;
any other social, political reforms, possible changes and risks, which may somehow affect Blockchain-based technologies, are out of our direct or absolute control, and, consequently, partly or absolutely restrict you from accessing and/or using the Services.
We or our affiliates make no representations or warranties and assume no liability for the proper performance of any Services and/or the information, images or audio contained or related to the Website. you use all of the mentioned at your own risk. We will take reasonable steps to exclude any viruses or defects from the Website, but cannot guarantee or warrant the Website will be free from infection, viruses and/or other code that has contaminating or destructive properties, defects will be corrected and accordingly no liability is accepted for defects and viruses. You agree that the content of the Website may not be entirely accurate, complete and current and you should verify all the information before relying on it. You are solely responsible for all the decisions you make based on the information contained on the Website. To provide you with accurate, complete and current information we may change the information on the Website from time to time as need be.
The Bitexbit is not a financial institution and is currently not under supervision of any financial supervisory authority. We do not provide any licensed financial services, as well as we do not act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by the Bitexbit is for general comprehension.
TRADING RISK
You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in trading Cryptocurrencies can be substantial. You should, therefore, carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
FINANCIAL OR LEGAL ADVICE
Bitexbit does not provide any financial, investment or legal advice in connection with the Services provided by Bitexbit. Bitexbit may provide information on the price, range, volatility of Cryptocurrencies and events that have affected the price of Cryptocurrencies, but it should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Cryptocurrencies is the User’s decision and Bitexbit will not be liable for any loss suffered.
TAXES
You are responsible for determining any and all taxes assessed, incurred, or required to be collected, paid, or withheld in connection with your use of the Services. You also are solely responsible for collecting, withholding, reporting, and remitting correct taxes to the appropriate tax authority.
SERVICES AVAILABILITY
The Website and the Services are provided on an “as is” basis and without any warranties of any kind, either expressed or implied. You assume all responsibility and risk with respect to your use of the Website and Services. We do not guarantee continuous, uninterrupted or secure access to the Services and you acknowledge and agree that the Website may be interfered with by numerous factors outside of our control. However, Bitexbit will use reasonable endeavours to ensure that you can normally access the Website in accordance with the Terms of Use.
SECURITY
We have implemented commercially reasonable technical and organizational measures designed to secure your personal information and other information from accidental loss and from unauthorized access, use, alteration or disclosure. However, we cannot guarantee that unauthorized third parties will never be able to defeat those measures or use your personal information and other information for improper purposes. You acknowledge that you provide your personal information at your own risk.
LIMITATION OF LIABILITY
IN NO EVENT SHALL BITEXBIT, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND AFFILIATES BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, CONSEQUENTIAL OR OTHERWISE DAMAGES, INCLUDING ANY THAT MAY RESULT FROM (I) ACCURACY, COMPLETENESS OR CONTENT OF THIS WEBSITE, (II) USE OF, OR INABILITY TO USE THE SERVICES FOUND AT THIS WEBSITE, (III) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION STORED ON THE WEBSITE, (IV) ANY INTERRUPTION OF SERVICES FOUND AT THIS WEBSITE, (V) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS WEBSITE, (VI) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL, PORNOGRAPHIC, OBSCENE OR OTHERWISE OBJECTIONABLE AND/ OR (VII) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USER'S USE OF THIS WEBSITE OR THE SERVICES FOUND AT THIS WEBSITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL OR EQUITABLE THEORY AND WHETHER OR NOT BITEXBIT IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
INDEMNITY
You hereby agree to indemnify Bitexbit, any of its officers, directors, employees, agents and affiliates from and against any claims, costs, expenses, losses, liabilities, damages and judgments of every kind imposed upon or incurred by Bitexbit, directly or indirectly arising out of (i) any breach of your representations, warranties or obligations set forth in these Terms of Use or documents incorporated herein; (ii) your wrongful or improper use of this Website or the Services; and/or (iii) any other party’s access or use of the Services with your Account information. The indemnification obligations under this section shall survive any termination or expiration of the Terms of Use or your use of this Website.
TERMINATION
You may terminate the Terms of Use and close their Account at any time, following settlement of any pending Transactions. Bitexbit reserves the right, by giving notice, at its sole discretion terminate or suspend your access to the Website in case of your breach of these Terms of Use or if the Bitexbit believes you have committed fraud, negligence or other misconduct. Additionally, we may terminate or suspend your access to the Website for the following reasons:
attempts to gain unauthorized access to the Website or another User's account,
overcoming software security features limiting use of or protecting any content,
usage of the Service to perform illegal activities such as money laundering, financing terrorism, or other criminal activities,
failure to pay or fraudulent payment for Transactions, or upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Bitexbit.
APPLICABLE LAW AND DISPUTES RESOLUTION
These Terms of Use shall be governed by by and construed in accordance with laws of Seychelles. All disputes and controversies arising out of or in connection with these Terms of Use shall be resolved by means of negotiations. You agree that for the purposes of the settlement of disputes between you and the Bitexbit, an e-mail correspondence with the authorized persons of Bitexbit at Customer Support shall be the effective and binding method of communication. If the Parties cannot agree on the subject of the dispute within thirty (30) days, the dispute shall be shall be referred to and finally resolved by the relevant court.
To the extent allowed by the applicable law, you agree that you will bring any claim arising from or connected with these Terms of Use within one (1) year from the date of which such claim arose. Otherwise, such claims will be irrevocably waived.
AMENDMENTS TO OUR TERMS
Bitexbit reserves the right to update and change these Terms of Use at any time by publishing a new version of the Terms of Use on the Website. Any changes will be effective from the day of publishing of the revised Terms of Use on the Website. Continued use of the Services after any such changes shall constitute your consent to such changes. You can review the most current version of these Terms of Use at any time on the Website. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate the use of the Services and close the Account.
FORCE MAJEURE EVENTS
The Bitexbit shall not be liable for:
any inaccuracy, error, delay in, or omission of any information;
any loss or damage arising from any event beyond the Bitexbit's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond the Bitexbit's reasonable control.
CONTACTS
Should you have any questions regarding the use of the Website or regarding these Terms of Use, please send us an e-mail at Customer Support.