We are authorised by the Estonian Financial Intelligence Unit (FIU), which is an independent structural unit of the Estonian Police and Border Guard Board, and that allow to provide virtual currency exchange services under our license No. FVT000518 (BTCBIT OÜ, Pikk tn 33-3, Kesklinna linnaosa, Tallinn, Harju maakond, 10133, Reg. No.: 16121208). Please take a moment to read these documents https://btcbit.net/licenses .
Please note, that this is the only official website of BTCBIT. By accessing, browsing and/or using this website, you acknowledge that you have read, understood and agree to abide by and comply with all terms, conditions and notices contained in or referenced by these Terms. Please read these Terms carefully before using the www.btcbit.net website (hereinafter referred to as “Service”). Your access to and use of the Service is conditioned on your acceptance of and compliance with these Terms. You further agree to be governed by any additional terms and conditions that may apply to you arising out your accessing, browsing and/or using of this website, whether contained on this website or in a separate agreement with BTCBIT. In the event of any conflict between these Terms and such additional terms and conditions, such additional terms and conditions shall govern to the extent of the conflict. BTCBIT reserves the right, in its discretion, to update or revise these Terms and to post such updated or revised Terms on this website. If you do not accept these Terms, you must leave the website immediately. Please check the Terms periodically for changes. Your continued use of this website following the posting of any changes to the Terms constitutes acceptance of those changes.
This website is not for use by any minors and you represent and warrant that you have come of age before using the Service (defined as those who are not at least 18 years of age); you have not previously been banned or suspended from the use of our Services; you have all authority to enter into this agreement and not violate any other agreements to which you are a party; you are not, are not under the control of either the citizen or resident of any prohibited territories; and will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
If you are entering into these Terms on behalf of a legal person, you represent and warrant that you have all necessary rights and authority act on behalf of such legal entity.
2. Non-serviced Countries and Territories
At present, BTCBIT does not provide service to the following countries and regions. This list is subject to change: Albania, Algeria, Barbados, Bahamas, Benin, Bolivia, Botswana, Burkina Faso, Cambodia, Cameroon, Cayman Islands, Central African Republic, Chad, China, Congo, Crimea, Cuba, Democratic Republic of the Congo, Democratic People’s Republic of Korea, Ecuador, Ethiopia, Ghana, Iran, Iraq, Islamic Republic of Afghanistan, Japan, Jamaica, Kenya, Kuwait, Lebanon, Libya, Mali, Mozambique, Myanmar, Nepal, Nicaragua, Pakistan, Panama, Russia, Rwanda, Senegal, Somalia, South Sudan, State of Palestine, Sudan, Syria, Tanzania, Togo, Uganda, Venezuela, Yemen, Zambia, Zimbabwe, Pridnestrovian Moldavian Republic, Donetsk Oblast (Ukraine), Luhansk Oblast (Ukraine), 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).
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 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 is 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 homepage.
3.1. Please note that payments from THIRD PARTIES payment cards, bank accounts, or accounts in payments systems are strictly prohibited. A cardholder or account name must match with the name specified in your profile in the BTCBIT system to process a payment.
3.2. BTCBIT does not collect and store your payment card information. When you choose this payment option, you are redirected to our secure payment gateway website to process your transaction. Your payment card information is securely authorized by BTCBIT without transferring any confidential information to us.
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. Please note that at the moment the service of buying or selling Ripple (XRP) to clients from the United States, as well as to/from payment cards or bank accounts opened in US credit or financial institutions, is not available. In case of any changes in the company's policy, the mentioned information will be updated.
You agree to pay BTCBIT the fees for every transaction completed via our Services, which we may change from time to time. Changes to the Fee are effective as of the effective date indicated in the Terms updates.
You authorize us, or our designated payment processor, to charge or deduct any applicable Fees owed in connection with your payment under the Services and this terms.
6. Transaction processing/Refunds
We strive to process all transactions within 30 minutes of receipt of the customer`s payment.
In some (individual) cases where payment was made outside of business hours (weekdays between 9:00 and 18:00 EET), the transaction will be processed during business hours of the next business day.
6.1. Please note that in some cases set by internal company policy, BTCBIT may request additional information or documents to complete a transaction, which must be provided no later than 24 hours after receipt of the request.
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 to 24 hours from the last time the documents/information were provided.
In individual cases (e.g., large number of documents to be reviewed, large number of transactions, and other conditions involving a more in-depth review), the review may take longer.
6.2. If your transaction has not been processed and you have not received a request for documents/information within 72 hours of the payment being credited, you have the option to request a reversal of the transaction and the funds will be refunded to you in full. Typically, a refund request is processed within 24 hours and is made using the same payment method used for the original transaction. However, the speed of crediting the refunded funds to the client`s account/card depends on the payment method and the work of a particular payment service provider.
6.3. Please note that BTCBIT Sp. z o.o. is not a payment service provider (PSP - A payment service provider) and does not have a financial license. Therefore, long-term storage of any client funds in our service is prohibited.
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.
7. Account registration and verification
Having read / accepted this Terms & Conditions, the client 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 of 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].
With registration of an account on BTCBIT, you agree to submit 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 (such as the name of the bank and the sort code). 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 personal identity verification you should go to the verification page and upload the following documents:
- 1) personal data questionnaire;
- 2) a copy of your valid passport, ID or driver's license;
- 3) liveness check using a video camera;
- 4) proof of address document that corresponds to the personal and residential address information you supplied when you applied for your BTCBIT account;
- 5) questionnaire.
8. Prohibited Actions&Termination of Service
- 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 company 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 services..
- 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 furnish or has furnished 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, bank partner urges termination of the business relationship with Customer;
- • The Customer does not submit to BTCBIT with the information requested by the BTCBIT or required under applicable laws;
- • The Customer is a subject of the 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 Policy.
9. Account Security
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 law.
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 notifying Us immediately of any unauthorised use of Your password or of Your username or of any other breach of Your account security, by 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 immediate take all the necessary steps to prevent any further use of this information. BTCBIT reserves the right to suspend, freeze or cancel 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 webwebsite immediately. Please check the latest information posted herein to inform yourself of any changes.
11. Limitation of loss
The exchange service BTCBIT exclusively provides exchange services and does not provide services for cryptocurrency storage (wallet creation), also does not provide brokerage services 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, 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 circumstance 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 to use Electrum wallet, Blockchain wallet online and Trezor or Ledger.
12. Assumption of risk
- 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 unauthorized access to information stored in your cryptocurrency wallet. BTCBIT will be 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 case of the return, 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 their identity documents and will not set a user's identity.
13. Third party systems
The End User shall consent to the following provisions:
- - BTCBIT uses a third party services and such third party’s affiliates services which enable you to place monetary deposits and perform transfer of payments within 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 Services do not include any additional service, and such third party services do not include providing and/or depositing the applicable Cryptocurrency at 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 Services which will be made to Partners webwebsite via the use of your credit card. The 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 services of our website.
- - In addition, we may transfer any Non-Personal Information provided by you through your use of the services 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 that any and all information you provide us is true and accurate. Any false or fraudulent information and/or use of the services 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 Partner and/or the Third Party Service Provider with Personal Information at his/her 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.
14. Links to other websites
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 direct 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.
16. Force majeure
The BTCBIT shall have a duty to execute Customer’s orders with due diligence and to protect the Customer's interests insofar as reasonably possible and insofar as legally required to.
The BTCBIT shall not be responsible for a default on or partial performance of its obligations under agreements if the reason of 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.
17. Dispute resolution
If You are not satisfied with Our services 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 and the Russian version of the terms is prevail.
18. Recurring Payments
Recurring Digital Currency Transactions. If you set up a recurring purchase of Digital Currency (a "Future Transaction"), you authorize us to initiate recurring payments in accordance with your selected Digital Currency Transaction and any corresponding bank card. Your Future Transactions will occur in identical, periodic installments, based on your period selection (e.g., daily, weekly, monthly), until either you or BTCBIT cancels the Future Transaction.
If you select a bank card and If your bank is unable to process any payment to BTCBIT, we will notify you of cancellation of the transaction and may avail ourselves of remedies set forth in this Agreement to recover any amount owed to BTCBIT. This authorization will remain in full force and effect until you change your Future Transaction settings or until you provide us with written notice via [email protected]. You agree to notify BTCBIT in writing of any changes in your linked bank card information prior to a Future Transaction. No additional fees, excluding fees stated in clause 5 of Terms and Conditions, will be applied for subscription functionality.
19. Form of the terms
The Customer and the BTCBIT exchange place acknowledge that the digital form of this terms is legally equal to the agreement executed in written form.
Agreement signed with the company:
- BTCBIT Sp. z.o.o.
- Ul. Gesia 8 - 205
- 31-535, Krakow
- BTCBIT OÜ
- Pikk tn 33-3
- 10133, Tallinn