Last updated: May 5, 2019
1. Key Definitions
Capitalized terms not otherwise defined in these Terms will have the following meanings:
- "Bitqist Account" means a user account accessible via the Services.
- “Digital Currency" means Bitcoin, Ethereum, Litecoin, and other digital currency that may be purchased, sold and/or stored via the Services.
- “External Account" means any bank account or Digital Currency account of which you are the owner or beneficial owner that is maintained by you or a third party outside of the Services from which you may transfer and where you can receive euro amounts or Digital Currency.
- “Restricted Locations" means any country of which Bitqist has determined, at its discretion, to prohibit use of the Services and any country that prohibits you by applicable law from using our Services in accordance with these Terms.
The Services are intended solely for users who are 18 or older. You represent and warrant that you: (a) are of legal age to form a binding contract (at least 18 years old); (b) act on your own behalf; (c) have not previously been suspended or removed from using our Services; (d) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; and (e) are not located in, under the control of, or a national or resident of any of the Restricted Locations.
3. Bitqist Services
Bitqist provides you with one or more Bitqist Accounts that allows you to store certain supported Digital Currencies and to track, transfer and manage these supported Digital Currencies. Bitqist also provides you with a simple and convenient way to buy, sell or trade supported Digital Currencies in transaction with Bitqist or the Bitqist API.
Bitqist does not guarantee the availability of its Services and the API at any time and may, at its sole discretion, limit or discontinue its Services and API at any time.
4. Bitqist Account
4.1 Bitqist Account
In order to use any Services, you must create and maintain a Bitqist Account. To create or maintain your Bitqist Account, or enable functions on your Bitqist Account, you will be required to provide Bitqist with certain information and documentation, including, as applicable, the information and documentation associated with identity verification and other screening procedures described in Section 4.3, below. You are only allowed to create and operate one Bitqist Account.
When you create a Bitqist Account, you agree to (a) provide accurate and truthful information; (b) promptly notify Bitqist if you discover or otherwise suspect any security breaches related to your Bitqist Account; and (c) take responsibility for all activities that occur under your Bitqist Account and accept all risks of any authorized or unauthorized access to your Bitqist Account to the maximum extent permitted by law.
4.3 Identity Verification
Depending on the functions that you seek to enable on your account and Bitqist’s risk determination, Bitqist may, in its discretion, require identity verification and other screening procedures with respect to you or transactions associated with your Bitqist Account. These verification and screening procedures may include, without limitation, checking the information you provide against international and local sanction and watch lists. You may be required to provide Bitqist with certain personal information, including, but not limited to, your name, address, telephone, date of birth, a copy of an utility bill, information regarding your bank account (e.g. financial institution, account type, routing number and account number), photograph of your government-issued ID and other photographic proof of your identity. In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic and you agree to notify Bitqist if any information changes. You hereby authorize Bitqist, directly or through a third party, to make any inquiries Bitqist considers necessary to verify your identity and/or protect against fraud, including but not limited to: (a) query identity information contained in public reports (e.g., your name, address, past addresses, or date of birth); (b) take action Bitqist reasonably deems necessary based on the results of such inquiries and reports. You further authorize any and all third parties to which such inquiries or requests may be directed to fully respond to such inquiries or requests. Bitqist will have no liability or responsibility for any permanent or temporary suspension or termination of your access or use of any Services, including your inability to withdraw Digital Currency or euro, as a result of any identity verification or other screening procedures.
You are solely responsible for maintaining adequate security and control of any and all passwords, device tokens, two-factor authentication tokens, API keys or any other codes that you use to access the Bitqist Services. You are responsible for keeping your email address up to date in your Bitqist Account in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Bitqist and/or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Bitqist Account information has been compromised, contact Bitqist support immediately at firstname.lastname@example.org.
In the event of termination of your Bitqist Account, Bitqist will return your Digital Currency and euro, unless this is prohibited by any applicable rules or regulations and/or by any supervisory authority or if Bitqist believes you have committed fraud or other misconduct.
4.6 Notice of Suspension
If Bitqist suspends or closes your account, or terminates your use of Bitqist Services for any reason, we will provide you with notice of our actions unless a court order or other legal process prohibits Bitqist from providing you with such notice.
You may cancel your Bitqist Account at any time by withdrawing all balances and mailing Bitqist support at email@example.com. You will not be charged for canceling your Bitqist Account, although you will be required to pay any outstanding amounts owed to Bitqist. You authorize us to cancel or suspend any pending transactions at the time of cancellation.
4.8 Consent of Electronic Delivery
You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, "Communications") that Bitqist provides in connection with your Bitqist Account and/or use of the Bitqist Services. You agree that Bitqist may provide these Communications to you by posting them via the Services and/or by emailing them to you at the email address you provide.
4.9 Withdrawal of Consent
You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to firstname.lastname@example.org. If you decline or withdraw consent to receive electronic Communications, Bitqist may suspend or terminate your use of the Services.
4.10 Updating Contact Information
It is your responsibility to keep your email address on file with Bitqist up to date so that Bitqist can communicate with you electronically. You understand and agree that if Bitqist sends you an electronic Communication but you do not receive it because your email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Bitqist will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Bitqist to your email address book so that you will be able to receive the Communications we send to you. You can update your email address at any time by logging into your Bitqist Account or by sending such information to email@example.com. If your email address becomes invalid such that electronic Communications sent to you by Bitqist are returned, Bitqist may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address from you.
6. General Obligations
This section applies to all purchases and/or sales of Digital Currency from and to Bitqist via the Services, and any transaction whereby you transfer euro amounts to Bitqist from your External Account or receive amounts from Bitqist on your External Account in relation to the purchase or sale of Digital Currency.
6.2 Third Party Transactions
Bitqist has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell from a third party (including other users of Bitqist Services). Bitqist is not responsible for ensuring that a buyer or a seller you may transact with will actually complete the transaction or is authorized to do so. Any problem arising out of a transaction with a third party or if you have a dispute with such third party, you must resolve the dispute directly with that third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify Bitqist support at firstname.lastname@example.org so that we may consider what action to take, if any.
6.3 Digital Currencies
Bitqist retains the right, in its sole discretion, to include a Digital Currency, and may remove any Digital Currency at any time for any reason. Unless otherwise required by law or law enforcement, Bitqist will make reasonable efforts to notify you of the likely removal of a Digital Currency.
If all markets for a Digital Currency are closed, you will have 14 days to transfer the amounts remaining in your Bitqist Account associated with such Digital Currency to your External Account. Bitqist will not be liable to you for any losses, liability or expenses related to the removal of a Digital Currency.
Under no circumstances should you attempt to use your Bitqist Account to store, send, request, or receive Digital Currencies in any form that are not supported by Bitqist. Bitqist assumes no responsibility or liability in connection with any attempt to use Bitqist Services for Digital Currencies that Bitqist does not support.
Bitqist may open or close any market for a Digital Currency on the Site at any time, in its sole discretion.
6.5 Compliance with Law; Taxes
You are responsible for complying with all applicable laws related to your trading activities and other use of the Services, including without limitation any reporting obligations and payment of all applicable taxes. You will determine what, if any, taxes apply to the Trades and any other transactions you complete via the Services, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. Bitqist is not responsible for determining whether taxes apply to your Trades or for collecting, reporting, withholding, or remitting any taxes arising from any Trades.
6.6 Relationship of the Parties
Nothing in these Terms shall be deemed or is intended to be deemed, nor shall it cause, you and Bitqist to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or Bitqist to be treated as the agent of the other. You acknowledge and agree that (a) Bitqist is not acting as your broker, intermediary, agent or advisor in any fiduciary capacity, and (b) no communication or information provided to you by Bitqist shall be considered or construed as advice.
6.7 Internet Transmission Risk
You acknowledge that there are risks associated with utilizing an internet-based system including, but not limited to, the failure of hardware, software, and internet connections. You acknowledge that Bitqist shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services or the API, howsoever caused.
6.8 Accuracy of Information
Bitqist makes no representations about the accuracy or completeness of Digital Currency information available on the Site. Bitqist will make reasonable efforts to ensure that requests for transfers involving bank accounts are processed in a timely manner but Bitqist makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.
7. Deposits and Withdrawals
7.1 Retention Period
You can only transfer euro amounts to Bitqist to buy Digital Currency of Bitqist. If Bitqist has not been informed timely about the specific transaction details within 5 days, then Bitqist will repay the amount received on your External Account.
7.2 External Account
In order to complete an order or trade of Digital Currency via the Services, you must transfer an amount to Bitqist using one of the approved External Accounts identified via the Services. You may be required to verify that you control the External Account that you use to transfer an amount to Bitqist. You may be charged fees by the bank where you hold your External Account you use to transfer an amount to Bitqist. Bitqist is not responsible for any External Account fees or for the management and security of any External Account.
7.3 External Account Transaction Time
The timing associated with a transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account and possible security related complications which could result in a temporary pending status for a certain transaction or group of transactions. Bitqist makes no guarantees regarding the amount of time a transfer may take.
7.4 Withdrawals and Transfers
You may send any amount of Digital Currency or euro, up to the total amount of Digital Currency or euro in your Bitqist Account, in excess of such minimum balance requirements, from your Bitqist Account to an External Account, less any fees charged by Bitqist for such transactions. You are solely responsible for the accuracy of the External Account that you provide, and Bitqist shall not be liable for sending Digital Currency or euro from your Bitqist Account to an incorrect External Account if it matches the External Account you provided to us.
7.5 Rejected Transactions
In some cases, the External Account may reject your transfers or may otherwise be unavailable. You agree that you will not hold Bitqist liable for any damages resulting from any such rejected transactions.
7.6 Withdrawal Authorization
When you request that we send Digital Currency or euro to your External Account from your Bitqist Account, you authorize Bitqist to execute such transaction using your Bitqist Account via the Services.
7.7 Unclaimed Property
If Bitqist is holding Digital Currency in your Bitqist Account, and Bitqist is unable to contact you and has no record of your use of the Services for several years, applicable law may require Bitqist to report these Digital Currency as unclaimed property to the applicable jurisdiction. If this occurs, Bitqist will try to locate you at the address shown in our records, but if Bitqist is unable to locate you, it may be required to deliver any such Digital Currency to the applicable or jurisdiction as unclaimed property. Bitqist reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed Digital Currency, as permitted by applicable law.
8.1 Conditions and Restrictions
Bitqist may, at any time and in its sole discretion, refuse any purchases or sales submitted via the Services, impose limits on the purchase or sale amount permitted via the Services or impose any other conditions or restrictions upon your use of the Service without prior notice.
Once your purchase or sale has been confirmed, you may not change, withdraw or cancel your authorization for Bitqist to complete such transaction. While Bitqist may, at its sole discretion, reverse a purchase or sale under certain extraordinary conditions.
8.3 Purchase Quotes
Prior to completing your purchase or sale of Digital Currency from Bitqist, we will provide notice of the amount of Digital Currency you intend to purchase or sell and the amount of euro or Digital Currency you will be required to pay to Bitqist to receive such Digital Currency. You agree to comply with any terms and conditions provided within such notice to complete your purchase transaction.
8.4 Order Execution
You agree that: a) we do not guarantee that every purchase or sale is fulfilled, and b) that we are not liable for the damage incurred from purchases or sales that could not or could only partially be filled.
In the event of an error, whether via our Services, in a purchase order confirmation, in processing your purchase, or otherwise, we reserve the right to correct such error and revise your purchase transaction accordingly (including charging the correct price) or to cancel the purchase and refund any amount received. Your sole remedy in the event of an error is to cancel your purchase order and obtain a refund of any amount charged.
8.6 No Returns or Refunds
All sales and purchases of Digital Currency by Bitqist via the Services are final. We do not accept any returns or provide refunds for your purchase of Digital Currency from Bitqist, except as otherwise provided in these Terms.
You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in purchasing Digital Currency can be substantial. You should, therefore, carefully consider whether purchasing Digital Currency is suitable for you in light of your circumstances and financial resources. You should be aware of the following non-exhaustive list of risks:
- You may sustain a total loss of the Digital Currency in your Bitqist Account.
- Under certain market conditions, you may find it difficult or impossible to sell a Digital Currency. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move") or if there is insufficient liquidity in the market.
8.8 Market Volatility
You agree that we are not liable for any price fluctuations in Digital Currency. In the event of a market disruption or Force Majeure Event (as defined in Section 16.5), we may do one or more of the following: (a) suspend access to the Services; or (b) prevent you from completing any actions via the Services. We will not be liable for any losses suffered by you resulting from such actions. Following any such event, when exchange transactions resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
9.1 Amount of Fees
You agree to pay Bitqist the fees for orders completed via our Services ("Fees") as made available via fee schedule ("Fee Schedule"), which we may change from time to time. Any changes to the Fee Schedule will become effective as of the expiration of such notice period. The revised Fee Schedule will apply prospectively to any orders that take place following the effective date of such revised Fee Schedule.
9.2 Payment of Fees
You authorize us, or our designated payment processor, to charge or deduct funds from your Bitqist Account for any applicable Fees owed in connection with orders you complete via the Services.
10. Acceptable Use
When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right, or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:
- Use our Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden, or impair the functioning of our Services in any manner;
- Use our Services to pay for, support, or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
- Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us to access our Services or to extract data;
- Use or attempt to use another user’s account without authorization;
- Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
- Introduce to the Services any malware, virus, trojan worms, logic bombs, or other harmful material;
- Develop any third-party applications that interact with our Services without our prior written consent, or unless otherwise agreed;
- Provide false, inaccurate, or misleading information;
- Encourage or induce any third party to engage in any of the activities prohibited under this Section.
11. Third-Party Content
In using our Services, you may view content provided by third parties ("Third-Party Content"). We do not control, endorse, or adopt any Third-Party Content and shall have no responsibility for Third-Party Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent, or otherwise objectionable. In addition, your business dealings or correspondence with such third parties are solely between you and the third parties. We are not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings, and you understand that your use of Third-Party Content, and your interactions with third parties, is at your own risk.
12. Suspension; Termination; Discontinuance of Services
12.1 Changes to Services
Bitqist may, at its discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily or permanently, all or any portion of any Services.
12.2 Suspension or Termination of Services
Bitqist may, at its discretion and without liability to you, with or without prior notice and at any time, temporarily suspend or permanently terminate your access to all or a portion of any Services.
12.3 No Liability
Bitqist will not be liable for any losses suffered by you resulting from any modification of any Services or from any suspension or termination of your access to all or a portion of any Services. If and when Services resume, you acknowledge that Digital Currency valuations and exchange rates may differ significantly from the valuations and rates prior to such event.
12.4 Effect of Termination
In the event of discontinuation of all Services or other termination of your right to access all Services: (a) all amounts payable by you to Bitqist will immediately become due; and (b) Bitqist may delete or deactivate your Bitqist Account and all related information and files in such account without liability to you.
You agree to defend, indemnify, and hold harmless Bitqist and our affiliates, independent contractors and service providers, and each of our respective officers, directors, members, employees, agents, and affiliates (collectively, "Indemnified Parties") from any claim, demand, action, damage, loss, cost or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with, our Services; (b) any Feedback you provide; (c) your violation of these Terms; or (d) your violation of any rights of any other person or entity. If you are obligated to indemnify any Indemnified Party, we will have the right, in our sole discretion, to control any action or proceeding and determine whether we wish to settle it, and if so, on what terms.
14. Limitation of Liability
14.1 Limitation of Liability
In no event shall Bitqist, its affiliates and service providers, or any of their respective officers, directors, agents, joint venturers, employees or representatives, be liable (a) for any amount greater than the amount of the fees paid by you to Bitqist under this agreement in the twelve-month period immediately preceding the event giving rise to the claim for liability or (b) for any lost profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorized or unauthorized use of the Site or the Services, or this agreement, even if an authorized representative of Bitqist has been advised of or knew or should have known of the possibility of such damages.
14.2 Computer Viruses
We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Bitqist. Always log into your Bitqist Account through https://www.bitqist.com/ to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
15. Applicable Law & Competent Court
15.1 Applicable Law
Agreements between you and Bitqist to which these Terms are applicable shall be governed by the laws of The Netherlands.
15.2 Competent Court
Any disputes between you and Bitqist arising from these Terms or your use of the Services can only be submitted to the competent Dutch court in Rotterdam, both by you and Bitqist.
16.1 Entire Agreement; Order of Precedence
These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services.
We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the Site and/or by posting the amended Terms via the applicable Bitqist websites and mobile applications and updating the date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for preexisting users upon the earlier of either: (i) the date users click or press a button to accept such changes, or (ii) continued use of our Services 30 days after Bitqist provides notice of such changes. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree with any changes or modifications to these Terms, your sole and exclusive remedy is to terminate your use of the Services and close your account.
Our failure or delay in exercising any right, power, or privilege under these Terms shall not operate as a waiver thereof.
The invalidity or unenforceability of any of these Terms shall not affect the validity or enforceability of any other of these Terms, all of which shall remain in full force and effect.
16.5 Force Majeure Events
We shall not be liable for (a) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; or (b) any loss or damage arising from any event beyond our 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 our reasonable control (each, a "Force Majeure Event").
You may not assign or transfer any of your rights or obligations under these Terms without prior written consent from us, including by operation of law or in connection with any change of control. We may assign or transfer any or all of its rights under these Terms, in whole or in part, without obtaining your consent or approval.
Headings of sections are for convenience only and shall not be used to limit or construe such sections.
All provisions of these Terms which by their nature extend beyond the expiration or termination of these Terms, including, without limitation, sections pertaining to suspension or termination, Bitqist Account cancellation, debts owed to Bitqist, general use of the Bitqist site, disputes with Bitqist, and general provisions, shall survive the termination or expiration of these Terms.
16.9 Website Accuracy
Although we intend to provide accurate and timely information, the Bitqist 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, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on Bitqist are your sole responsibility and we shall have no liability for such decisions. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to Bitqist.