Terms & Conditions

At present, BTCBIT does not provide Service to the following countries and regions. This list is subject to change: Afghanistan, Albania, Algeria, Bangladesh, Bahamas, Benin, Bolivia, Cameroon, Central African Republic, Chad, China, Democratic Republic of the Congo, Cote d'Ivoire, Cuba, Democratic People's Republic of Korea, Ecuador, Egypt, Eritrea, Ghana, Guinea, Guinea-Bissau, Haiti, Iran, Iraq, Japan, Kuwait, Lebanon, Liberia, Libya, Macedonia, Mali, Morocco, Myanmar, Nauru, Nepal, Nicaragua, Pakistan, Palestine, Panama, Qatar, Russian Federation, Somalia, South Sudan, Sudan, Syrian Arab Republic, Togo, Trinidad and Tobago, Uganda, Venezuela, Yemen, Zimbabwe, Abkhazia, Azores, Crimea, Donetsk Oblast (Ukraine), Gaza Strip, Kashmir, Kherson, Kosovo, Luhansk Oblast (Ukraine), Nagorno Karabakh, Northern Cyprus, South Ossetia, Zaporizhzhia, West Bank, Pridnestrovian Moldavian Republic, United States of America from the following states: New York (NY), Georgia (GA), Connecticut (CT), New Mexico (NM), Washington (WA), Hawaii (HI), Vermont (VT), Texas (TX), Nevada (NV).

2.1. Sanctions

Sanctions are restrictive measures imposed by international public law and approved by international organisations and/or countries regarding countries, specific subjects of sanctions (terrorists, persons accused of military and political crime, extremist organisations, etc.), or activities.

The Company strictly adheres to national and international sanctions. BTCBIT ensures compliance of its Services and Customer exchanges with the requirements laid down in the laws and regulations of the Republic of Poland and the European Union, as well as ensures compliance with sanctions implemented by the European Union, the United Nations, and the United States.

In connection with the situation that has arisen around Russia and Ukraine, extensive sanctions have been imposed against both the Russian Federation and the Republic of Belarus, some of their citizens, and enterprises.
The Company strongly recommends verifying information about sanctions and changes in this area before starting cooperation and/or payment.

All transactions with Visa and Mastercard cards issued in Russia currently do not work outside the Russian Federation. Since our Service are registered in the EU, Customers cannot pay with cards issued in the Russian Federation on the website.

Some Russian and Belarusian banks, as well as their subsidiaries, have also been included in the EU and US sanctions list.

The full list of sanctions can be checked publicly on the EU and OFAC homepages.

3.1.

3.2.

BTCBIT provides you with a platform for buying and selling Virtual currencies, such as Bitcoin, Ethereum, Litecoin and others.

Please be aware that Virtual currencies are decentralised and as such are not regulated and are subject to large fluctuations in value.

4.1.

You agree to pay BTCBIT the fees for every transaction completed via our Services, which we may change from time to time. Actual fees and data can be seen in our calculator on the main page. Our fees fall into three main categories:

Processing fee: Different payment methods have different associated costs and processing fee depends on the payment method the Customer chooses.

Service fee: BTCBIT typically imposes Service Fee from 0.5% till 8.0%, and it depends on chosen payment method and crypto asset.

Network fee: The miners demand the Network Fee to be paid for transactions to be processed on the blockchain. This fee gets charged per transaction, no matter the amount paid, and varies based on the market demand for the particular cryptocurrency selected. It is applicable to every mode of payment.

BTCBIT retains the authority to unilaterally adjust its fees. However, any modifications will solely affect new transactions. Existing transactions will not be subject to fee adjustments. Therefore, the total and definitive fees displayed when placing your order are conclusive.

We strive to process all transactions within 30 minutes of receipt of the customer`s payment. In some (individual) cases where payment is received outside of business hours (weekdays between 9:00 and 18:00 EET/EEST), the transaction will be processed during business hours of the following business day.

6.1.

Requested documents are reviewed on average within 24 hours of submission, excluding weekends. If the documents/information do not fully meet the requirements of the request, you will receive an additional request. In such a case, the review period will be extended for another 24 hours, excluding weekends, from the last time the documents/information were provided.

Under certain circumstances (e.g., large number of documents to be reviewed, large number of transactions, and other conditions involving a more in-depth study), the review may take longer.

6.2.

6.3.

In situations where the transaction (exchange) cannot be processed (see clauses 2., 8., 11. and 12. of this Agreement) and the return of funds is impossible within 60 days due to the fact that:

• the customer fails to contact either the e-mail address or phone number provided
• the client does not provide additional information for the return of cryptocurrency

Upon expiration of the above-mentioned period BTCBIT Sp. z o.o. applies a fee for storage of client funds in the amount of 50 EUR or equivalent in cryptocurrency for each subsequent / overdue day. This fee covers the costs of maintaining the assets of BTCBIT, its operators, its affiliates or any third party, and such fee is deducted directly from the Client`s funds. Clients hereby consents to this deduction from its assets.

In this case, the Client`s funds accumulated in BTCBIT`s balance in the above situation shall become an interest-free deposit.

6.4.

Registration

All Customers of the Service should register at https://btcbit.net/sign_up for a BTCBIT account before using the Service. To register for an Account, you will be required to sign up and complete details in the Registration Form such as email address, password, promo code (optional) as well as accept the Terms and Conditions, AML Policy, and Privacy Policy.

Having read and accepted these Terms & Conditions, the client Customer confirms that all information has been submitted and the necessary documents have been uploaded independently and without assistance from third parties.
Only one account per user is allowed. All subsequent accounts of the same person will be blocked, and transactions created in them will be transferred to the first created account.

BTCBIT may, in its sole discretion, refuse to open an account for you. You agree to submit complete and accurate information when opening an Account and agree to update any information you provide to BTCBIT so that such information is always complete and accurate. BTCBIT have the right to, in our sole discretion, decline any application. Any false information provided by you may result in your use or access to the website being terminated.

By registering on the website https://btcbit.net/ a Customer agrees to receive promotional emails, personal recommendations, and/or proposals from partners. You can always unsubscribe from them by clicking on the “unsubscribe” button that is found in every marketing email or by contacting us directly at any time at [email protected].

Verification

With the registration of an account on BTCBIT, you agree to submit the personal information requested for the purposes of your identity verification. This information is requested and used in order to prevent activities related to money laundering and terrorism financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the Service. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, email address, proof of address, and information regarding your bank account. In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to keep us updated if any of the information you provide changes.

You authorise us to make the inquiries, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit or payment institutions and law enforcement upon relevant official request. On an individual basis, we may request verification of your account, including when the amount of your exchanges does not exceed the account limit.

To complete your identity verification you should go to the verification page, complete the online questionnaires and upload the documents proving the submitted information as follows:

• questionnaire;
• a copy of your valid International passport or European ID card;
• liveness check using a video camera;
• proof of address that you provided during registration;
• a residence permit is not accepted, as an identity document. In some cases, a European residence permit may be requested as an additional document;

Customers of this website are prohibited from engaging in the following actions, including those prohibited by other provisions of these Terms and Conditions:

• actions that will or may infringe on the copyrights, privacy, property and other rights or interests of other users of this website, third parties, the BTCBIT or its partners;
• actions that will or may cause disadvantage, financial loss or other damages to other users of this website;
• actions that will or may be offensive to public order and morals, or violate laws, regulations, and ordinances;
• false declarations when using this website for account registration or other purposes;
• legitimate use of email addresses, passwords, or other personal information;
• other actions that may interrupt the operation of this website or interfere with the provision of BTCBIT Service.

BTCBIT shall have the right to terminate any existing business relationships between BTCBIT and Customer and to close any existing Account without any prior notice, if:

• the Customer has failed to provide or has provided false, incorrect or incomplete information regarding their identity or the origin of their funds;
• the Customer is, or has been, connected with or suspicion arises to BTCBIT that the Customer is connected with money laundering and/or terrorist financing or performance of fraudulent activities;
• BTCBIT has suspicion that the Customer is using, has used or has attempted to use the Account for conducting any unlawful activities, including for money laundering or terrorist financing-related operations, as well as for any activities aimed at circumventing international sanctions, restrictions or prohibitions or national sanctions or any other restrictions;
• BTCBIT is in possession of information about the Customer’s reputation which may have a direct or indirect impact on the operations of BTCBIT or may cause unfavourable implications for the BTCBIT;
• BTCBIT supervisory authority, any government institution, international organization, or bank partner urges termination of the business relationship with Customer;
• the Customer does not submit to BTCBIT the information requested by the BTCBIT or required under applicable laws and regulations;
• the Customer is a subject of the International acts and Law on Prevention of Laundering of Proceeds Derived from Criminal Activities and Terrorist Financing and the Customer’s internal control system does not comply with the requirements of the legislation governing the area of anti-money laundering and terrorist financing prevention;
• in other cases, specified in the internal BTCBIT AML procedures.

In order to use the Service, you must create a BTCBIT Account and provide all requested information for your profile verification. When you create a BTCBIT Account, you agree to create a strong password, provide correct and true information, endorse and promptly update your BTCBIT Account information, endorse the security of your BTCBIT Account by protecting your password and restricting access to your BTCBIT Account, promptly notify us if you discover or otherwise suspect any security breaches related to your BTCBIT Account, and take full responsibility for all activities that occur under your BTCBIT Account and accept all risks of any authorized or unauthorized access to your BTCBIT Account, to the maximum extent permitted by applicable laws and regulations.

Accounts can only be used by the person whose name they are registered under. NEVER SHARE YOUR PASSWORD WITH ANYBODY AND DO NOT WRITE IT DOWN ANYWHERE!

You consent to notify Us immediately of any unauthorised use of Your password or of Your username or any other breach of Your account security, via e-mail [email protected] from your registered e-mail. Once You have informed Us of the unauthorised use of Your password, Your username or Your account We will immediately take all the necessary steps to prevent any further use of this information. BTCBIT reserves the right to suspend, freeze or terminate accounts that are used by persons other than the persons whose names they are registered under. We will inform You of such steps promptly after having taken them and give the reasons for such steps unless We are prevented from doing so for legal reasons.

PROMPTING THESE STEPS DOES NOT MAKE US LIABLE FOR ANY LOSS OR DAMAGE THAT ARE THE RESULT OF YOUR FAILURE TO COMPLY WITH YOUR DUTY IN ACCORDANCE WITH THIS PARAGRAPH.

BTCBIT reserves the right to change these Terms and Conditions at any time without prior notice. In the event that any changes are made, the revised Terms and Conditions shall be posted on this website immediately. Please check the latest information posted herein to inform yourself of any changes.

The BTCBIT exclusively provides exchange Service and does not provide Service for cryptocurrency storage (wallet creation), as well does not provide brokerage service to BTCBIT Customers.

In no event shall we be liable for any of the following types of loss or damage arising under or in connection with these Terms or otherwise:

• Any loss of profits or loss of expected revenue or gains, including any loss of anticipated trading profits and/or any actual or hypothetical trading losses.
• Any loss of or damage to reputation or goodwill; any loss of business or opportunity, Customers or contracts; any loss or waste of overheads, the management or other staff time; or any other loss of revenue or actual or anticipated savings.
• Any loss of use of hardware, software or data and/or any corruption of data; including but not limited to any losses or damages arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and/or any interruption in any such data.
• Any loss or damage whatsoever which does not stem directly from our breach of these Terms; and/or any loss or damage whatsoever which is in excess of that which was caused as a direct result of our breach of these Terms (whether or not you are able to prove such loss or damage).
• Any loss due to circumstances beyond our control such as war or the threat of war, a change of political regime or other third-party actions.
• Be very attentive while specifying the wallet number. Once you have made a mistake, you will not be able to revoke the transaction. Use a wallet that only you have access to it.
• BTCBIT recommends using Electrum wallet, Blockchain wallet online and Trezor or Ledger.

Cryptocurrency carries significant risks. You should carefully consider whether it is appropriate for you to buy cryptocurrency:

• You accept and acknowledge the risks associated with the use of cryptocurrency wallets including the risk of equipment failure; the risk of software malfunction; disruption of internet access; the risk of spreading malware; and the risk of third parties gaining unauthorised access to information stored in your cryptocurrency wallet. BTCBIT will not be held responsible for any communication failures, errors or delays you may experience.
• We will not be held responsible for any losses, damages or claims that may arise from the use of corrupted wallets, mistyped wallet addresses, viruses or third-party attacks.
• While using the Service, you assume full responsibility for your wallet. Remember you are responsible for protecting your wallet from unauthorised access and taking the necessary steps to secure your private keys.
• In the case of the refund, all commission costs for electronic money transfer are withheld from the funds received from the Customer.
• BTCBIT.NET transfers an amount of the virtual currency/fiat funds at the course fixed at the time of receipt of fiat funds/virtual currency. Please note that in some cases the exchange rate will be fixed after receiving the requested data necessary for processing the exchange.
• BTCBIT has the right to stop the sale of electronic currencies, as long as the user does not provide his/her identity-proving documents and the user’s identity.

The End User shall consent to the following provisions:

• BTCBIT uses third-party services and such third-party’s affiliates’ services which enable you to place monetary deposits and perform a transfer of payments within the partners' website by making use of your existing credit card (as and if available and applicable) (the “Service” and the “Third-Party Service Provider”). The Service does not include any additional service, and such third-party services do not include providing and/or depositing the applicable Cryptocurrency in your account.
• BTCBIT may share and transfer (including cross-border transfer) Personal Information with the Third-Party Service Provider for the purpose of rendering the Service which will be made to the partner’s website via the use of your credit card. Personal Information will be shared with the Third-Party Service Provider after you select to execute such monetary payments by using the Services of the Third-Party Service Provider. For the purpose of this section Personal Information shall include information that identifies or may identify you, including the information submitted by you through the registration form when you subscribe to the website such as your E-mail address, password, country and city and/or information provided through social websites, or any other identifying information provided by you while using the Service of our website.
• In addition, we may transfer any Non-Personal Information provided by you through your use of the Service on our website to the Third-Party Service Provider in order to allow the Third Party Service Provider to perform preliminary examinations of Non-personal Information for the purpose of determining if you are qualified to use the services of such Third-Party Service Provider (including the history of your transactions on the website which will be provided without any identifying information and solely for the purpose of performing the preliminary examinations).
• By accepting these Terms, you represent confirm that any and all information you provide to Us is true and accurate. Any false or fraudulent information and/or use of the Service rendered to you is prohibited.
• You are not obligated by law to provide Partner and/or the Third-Party Service Provider with any Personal Information. You hereby acknowledge and agree that you are providing the partner and/or the Third-Party Service Provider with Personal Information at your own free will, for the purposes of rendering the Services.
• It is your full responsibility to determine what, if any, taxes apply to the virtual currency exchange transaction you complete via the Service, and it is your full responsibility to report and remit the correct tax to the appropriate revenue authority. You agree that BTCBIT is not responsible for determining whether taxes apply to your virtual currency exchange transactions.

The BTCBIT website may contain links and pointers to other BTCBIT Web Internet websites and resources. Links to any Linked website do not constitute an endorsement by Us with any third-party resources or their contents. Links do not imply that BTCBIT is affiliated or associated with third parties or is legally authorised to use any trademark, trade name, logo or copyright symbol displayed in or accessible through a link, or that any Linked websites are authorised to use any trademark, trade name, logo or copyright symbol of BTCBIT. You should address any concerns regarding any Linked website to such Linked website's website administrator or webmaster. BTCBIT does not represent or endorse the accuracy or reliability of, and expressly disclaims, any advice, opinion, statement, or other information displayed or distributed through any Linked website. You hereby acknowledge that reliance upon any opinion, advice, or information displayed on or otherwise available through any Linked website shall be at Your sole risk.

Please refer to our https://btcbit.net/privacy-policy for information about how we collect, use and share your information.

The BTCBIT shall have a duty to execute the Customer’s orders with due diligence and to protect the Customer's interests insofar as reasonably possible and insofar as legally required.

The BTCBIT shall not be responsible for a default on or partial performance of its obligations under agreements if the reason for the default is a result of force majeure (e.g. amendments or additions to laws or regulations, adoption and/or entry into force of new laws or regulations, including international sanctions, natural calamities and catastrophes, warfare, strikes, failures in means of communication or information systems) and other circumstances standing beyond the reasonable control of the BTCBIT.

If You are not satisfied with Our Service under these Terms and Conditions You may make a complaint in writing to Us by email: [email protected]. We will try Our best to deal with Your complaint at the first opportunity and We will send You a final response letter within 1 (one) month of receipt of Your complaint. If You do not receive Our final response or You are unhappy with Our final response, You have the possibility to enforce Your rights before the competent courts of Poland.

Any disputes arising in connection with these Terms or relating in any way to the relationship between the Service and the Customer will be resolved by means of negotiation between the affected parties.

All rules are governed by the laws of the Polish Republic.

The Customer and the BTCBIT exchange place acknowledge that the digital form of these Terms is legally equal to the agreement executed in written form.
The agreement signed with the Companies:

BTCBIT Sp. z.o.o.

Ul. Gesia 8 - 205

31-535, Krakow

Poland

BTCBIT OÜ

Pikk tn 33-3

10133, Tallinn

Estonia

Last update: 29 April 2024