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Terms of use





By using this website and / or the mobile app and by creating a Bitmymoney account, you agree and accept these terms and conditions.

You must read the entire terms and conditions of use carefully before using the website and / or the mobile app.

Terms of use

By using the website and / or the mobile app and creating a Bitmymoney account you explicitly declare and guarantee that:

(a) you accept these terms and conditions;

and

(b) you are at least 18 years of age or , if under 18, have permission from a parent or guardian;

and

(c) are not a US person;

and

(d) are fully independently authorized to make (financial) decisions.

 

In these terms, Bitmymoney refers to the company Bitmymoney BV, registered in the trade register under number 67547893 and with its registered office at Wilhelmina van Pruisenweg 104, 2595 AN The Hague, the Netherlands. Depending on the context, Bitmymoney can also refer to the services, the website www.bitmymoney.com and the mobile app provided by Bitmymoney.

 

Risks

By using a Bitmymoney account you are aware of the risks associated with possession and use of cryptocurrencies (such as Bitcoin, Ether and Litecoin).

You are aware that the value of cryptocurrencies can fluctuate at any time and even become worthless.

The risks include the absence of any guarantees for value and value retention, the irreversibility of transactions and the lack of control by government bodies or financial authorities. No central bank can take protective or corrective measures to protect the value of cryptocurrencies.

All transactions are irreversible

Buy and sell transactions are not reversible or revocable due to price fluctuations. Once made, all purchases and sales are final. Cryptocurrencies can not be exchanged or returned.

Sending and receiving cryptocurrencies via the blockchain network cannot be reversed or changed, all transactions in the blockchain network are definitive. 

Registration of Bitmymoney account

Bitmymoney may refuse your account at its sole discretion and without reason.

Verification of your identity

In order to use certain services from your Bitmymoney account, you may be asked to provide Bitmymoney personal information, including, but not limited to, your name, ID, telephone number, email address, address details and bank account information (e.g. financial institution, bank number and account number). Bitmymoney reserves the right to verify data in other databases (e.g. the trade register). Bitmymoney may further ask questions in the verification process, including but not limited to questions of proof of funds (both euros and cryptocurrencies) and questions for additional verification to comply with applicable law and regulations.

You are aware that the verification process may take some time and may lead to the temporary suspension of a transaction.

You are responsible for the accuracy of the information provided by you and agree to keep Bitmymoney informed if the information changes. In determining the provision of incorrect, untimely or insufficient data, Bitmymoney is entitled to suspend the account and freeze the funds.

Personal information and submitted documents are stored securely for as long as you are registered with us and thereafter as long as required by law.

Transactions on the Bitmymoney account

Bitmymoney reserves the right to suspend, refuse or cancel transactions and to freeze an account, in unusual situations. If there is a suspicion of fraudulent conduct, or in response to a subpoena or court order, Bitmymoney reserves the right to pass on any costs.

If a transaction cannot take place because this transaction is contrary to the terms of use, costs can be passed on to you.

A transaction can be suspended where additional information or verification is required.

When suspending a buy or sell transaction, the rate that you have agreed with Bitmymoney applies at the time that you have instructed to execute the transaction.

Bitmymoney reserves the right to investigate transactions in your account and to take measures depending on the outcome.

You are not entitled to take advantage of any mistakes made by Bitmymoney. Bitmymoney reserves the right to correct errors, if necessary by reclaiming transactions.

Prices and information

All purchases and sales relate to digital goods without a fixed value. With each transaction you agree to the price Bitmymoney has set at that time. You understand that all rates are variable and can change at any time.

Bitmymoney will clearly state the price, including costs and fees, for the cryptocurrencies for a purchase or sale. The offered price remains valid for the period of time stated on the website. This time period starts after you have started an order for buy or sell.

Only when you complete the payment for your purchase or approve the sale within this period, Bitmymoney will process the transaction at the offered price.

Although Bitmymoney makes every effort to place accurate, complete and timely (price) information on the website and the app, it is possible that published prices and data may contain (typing) errors or inaccuracies. Bitmymoney accepts no liability for the consequences of such errors.

Buying cryptocurrencies

Once you have successfully completed the required verification steps, you can buy cryptocurrencies.

Bitmymoney only supports purchases from a SEPA bank account. Bitmymoney has no influence on  the processing speed of SEPA transfers. Only purchases are possible from a bank account in your own name and for which you are authorized to act.

When using a business bank account, you must demonstrate that you are authorized to act. Bitmymoney will perform additional verifications and may place additional requirements on your account.

Bitmymoney aims to process a transfer within one working day, but no later than 5 (five) Dutch working days.

Selling ​​cryptocurrencies

Once you have successfully completed the required verification steps, you can sell cryptocurrencies. 

Bitmymoney only pays out to verified SEPA bank accounts, for which you are authorized to act. Bitmymoney has no influence on the processing speed of SEPA transfers and is not responsible for any problems with payouts due to a failure or a problem at the bank.

Bitmymoney aims to process the transfer to your bank account within one working day, but no later than 5 (five) Dutch working days.

Sending cryptocurrencies

Once you have successfully completed the required verification steps, you can send cryptocurrencies. 

You agree that you will truthfully state where you are sending the cryptocurrencies to.

If you send cryptocurrencies to a cryptocurrency address of the recipient, Bitmymoney will confirm that the cryptocurrency address is valid; however, Bitmymoney can not confirm that the intended address has been entered. You must check this information yourself in advance. It is very important that you enter the correct cryptocurrency address, we can not help you if you use a wrong address as all transactions are irreversible.

Bitmymoney ensures that the send transaction is created and sent via the blockchain network within minutes. Bitmymoney has no influence or responsibility on the further handling by the blockchain network.

Depositing cryptocurrencies

Once you have successfully completed the required verification steps, you can deposit cryptocurrencies into your account. Deposits are only visible in your Bitmymoney account after enough confirmations in the blockchain network, Bitmymoney has no influence on this process. 

You are responsible for the deposit transaction, so that it receives sufficient network confirmations.

It is not allowed to receive third party funds in your Bitmymoney account via the blockchain network.

You agree that you will truthfully state where the cryptocurrencies come from.

Bitmymoney reserves the right to charge fees if deposits are received that do not meet the requirements of these terms. For deposits lower than the minimum limit, Bitmymoney reserves the right not to credit them and to charge fees.

Storage of cryptocurrencies

All cryptocurrency addresses in your account are owned by Bitmymoney.

By sending cryptocurrency to your Bitmymoney account, you transfer ownership of this cryptocurrency to Bitmymoney. The deposited cryptocurrencies are converted into a credit in your Bitmymoney account.

You acknowledge and agree that although Bitmymoney will take all reasonable steps to secure the funds, Bitmymoney cannot guarantee complete security. You acknowledge and agree that any use of Bitmymoney and your Bitmymoney account is at your own risk.

Bitmymoney applies a best effort policy to benefits that may arise from the possession of  cryptocurrencies, such as but not limited to, forks and/or airdrops. It is Bitmymoney's decision and you can not claim it. Bitmymoney will consider multiple factors, such as sufficient interest, listing on multiple exchanges and sufficient value to justify the effort required by Bitmymoney.

Bitmymoney securely stores your cryptocurrencies in a combination of online and offline storage. At least 95% of all customer credits are stored in offline storage at various locations. Because of this, it may be necessary for Bitmymoney to retrieve this information from the offline storage to execute a cryptocurrency transaction according to your instructions, which may delay the start or assignment of this cryptocurrency transaction for up to 48 hours or more.

You accept the risk that a cryptocurrency transaction may be delayed by Bitmymoney and you agree that Bitmymoney cannot be held responsible for any damage resulting from or related to this delay.

Claim to customer funds

Customer funds in Bitcoin and other cryptocurrencies are included in the Bitmymoney Client Management Foundation. This foundation is responsible for all cryptocurrencies of clients of Bitmymoney BV. In no case can Bitmymoney BV claim these customer funds.

Fair use policy

Fair use applies to all our services. In case of excessive or deviant use; such as, but not limited to deposits below the limit and predominantly deposits and send transactions, Bitmymoney may request that you discontinue this use. Bitmymoney is entitled to suspend your account and freeze the funds.

Limits

Bitmymoney sets limits on the number of cryptocurrencies that you can buy, sell, send or deposit. These limits entail both minimum and maximum amounts. Limits can be applied per transaction and within time periods. Limits are stated on the website and the app and depend on the degree of verification of your account. Bitmymoney reserves the right to adjust the limits at any time. For example for, but not limited to, changes in the legislation.

Services costs and fees 

All applicable fees and commissions are displayed on the Bitmymoney website. By opening a Bitmymoney account and buying, selling, sending and depositing cryptocurrencies, you accept the deducted costs and commissions.

Bitmymoney may adjust the costs and fees at any time. Bitmymoney displays the current rates on the website.

Taxes

It is your responsibility to determine whether, and to what extent, taxes apply to your transactions. The value of your cryptocurrencies at Bitmymoney as of January 1 of each year can be viewed in your account.

Your own responsibility / security

Entering the right data is your own responsibility and of great importance as transactions can not be reversed. Bitmymoney can not accept liability for errors herein.

Bitmymoney offers possibilities to further secure your Bitmymoney account, it is your responsibility to use it.

You are responsible for choosing a sufficiently reliable password and keeping your login details and other authentication data confidential. We do not accept any liability if the login data and / or authentication data fall into the wrong hands. If you know or suspect that your authentication information has been stolen or misused, you should contact Bitmymoney immediately. You are required to immediately notify Bitmymoney of any unauthorized use of your account or password, or of any other breach of security. Bitmymoney will never ask you to provide passwords or authentication codes.

You are responsible for the proper security of your e-mail, your internet connection and the devices on which you use Bitmymoney. We do not accept any liability for damage or interruptions caused by computer viruses, spyware, scareware, Trojans, worms and other malware that may affect your computer or other equipment. You ensure to regularly use virus screening and prevention software.

You should be aware that messaging services (such as SMS and WhatsApp), two-factor authentication services, email services and similar services are vulnerable to spoofing and phishing attacks. You should always carefully check messages that are seemingly coming from Bitmymoney. If in doubt, you should contact Bitmymoney directly.

You acknowledge and agree that Bitmymoney is not liable for any damage or interruption caused by spoofing or phishing.

Availability

Bitmymoney does not guarantee continuous, uninterrupted error-free access to all parts of the Bitmymoney services. Bitmymoney does its utmost and makes every reasonable effort to keep the services functioning as well as possible, 24 hours a day, 7 days a week, but can never fully guarantee this.

Depending on the country from which you use the website and / or the app, you may or may not be able to use the website and / or app properly.

Uncertainty in the blockchain or in the protocol may be a reason to pause (parts of) the services. 

In addition, we can suspend the services for maintenance. Bitmymoney will make all reasonable efforts to inform you in advance, you acknowledge that this will not be possible in case of an emergency.

Force Majeure

We are not liable for service delays or interruptions that are a direct or indirect result of a cause beyond our control, including but not limited to: terrorism, hacks, third-party DDOS attacks, disturbances, war, pandemics, bankruptcy of one of our banks or partners, strikes or other labor conflicts and fires. This also applies to interruptions of telecommunications, internet services or network provider services, equipment and / or software failure, power outages, bank interruptions, blockchain network issues or any other event beyond our reasonable control.

Force majeure does not affect the validity and enforceability of the other provisions. 

You acknowledge and agree that Bitmymoney can never be held liable for damage in any form caused by force majeure.

Unauthorized use

Your account is strictly personal. You agree not to use your account to conduct transactions on behalf of others. Your account cannot be transferred to another without written permission from Bitmymoney.

You agree that you will not use any other than your own account, or attempt to access another person's account, or assist others in gaining unauthorized access.

You declare that the funds for purchase have been legitimately obtained. You declare that the cryptocurrencies you receive have been obtained legitimately and that you are only sending them to legitimate purposes.

It is strictly forbidden to use Bitmymoney for illegal activities, including, but not limited to, money laundering, illegal gambling activities, scams, terrorist financing, tax evasion, drug dealing, trading of illegally obtained cryptocurrencies, sending bitcoin to investment companies that work without the right ones EU license or malicious hacking.

If any suspicious activity on your account is detected by Bitmymoney, we will ask you for additional information and will freeze your account and all current transactions, pending this information. You agree to comply with these requests for additional information.

It is not allowed to use Bitmymoney as a mixer. It is not allowed to receive and forward cryptocurrencies.

You are responsible for complying with the rules and regulations that apply in the country from which you visit the website or app.

If you violate these rules, you may be held liable for the damage incurred by Bitmymoney.

Bitmymoney is compelled to report to the relevant authorities in the event of violation of the law. 

Termination

You can cancel your Bitmymoney account at any time, after settlement of current transactions.

Bitmymoney reserves the right to suspend or terminate access to your account. This may be for the following reasons, but not limited to: (1) discovery of unauthorized use, (2) violations of these terms of use, (3) unexpected operational problems, (4) bypassing software security functions, (5) as required by a valid subpoena or court order.

Inactive accounts

If you have not used your account for 5 years or more, Bitmymoney may contact you about the continuation of your account.

If you do not respond to contact requests from Bitmymoney regarding the continuation of your account, your account will be terminated. Funds in your account will be converted into euros and minus any costs incurred, deposited in your bank account. If your bank account is no longer known or active, the funds will expire.

Privacy

Protecting your privacy is very important to Bitmymoney. Bitmymoney has set up a privacy policy for this, in which your rights and the storage disclosure and processing of personal data are recorded. By accepting these terms, you agree to the privacy policy. 

Bitmymoney does not share user data with third parties unless required to do so by law. When Bitmymoney is legally obliged to provide data by means of a court order, this will be complied with.

Indemnity

You agree to indemnify Bitmymoney and each of its employees and representatives from any claim or claim (including legal fees and any penalties imposed by a regulatory authority) arising out of, or in connection with, (a) your violation of this agreement, (b) your use of the Bitmymoney account, or (c) your violation of any law, rule or regulation, or the rights of a third party.

No advice

Bitmymoney does not provide any advice regarding cryptocurrencies. Bitmymoney can provide information on cryptocurrencies, price developments and news. You acknowledge that you do not regard this information as financial advice, investment advice or other advice, but as information from which no rights can be derived.

Every decision to buy or sell cryptocurrencies and every transaction with cryptocurrencies is your decision and therefore your responsibility. Bitmymoney is not liable for any damage suffered.

Regulation

Our services consist of facilitating the buying, selling, receiving, holding and sending of cryptocurrencies. These services are subject to the Wwft (Money Laundering and Terrorist Financing Prevention Act) from May 21, 2020. As a result, Bitmymoney has a legal duty to identify its customers, monitor transactions, and report unusual transactions to appropriate authorities.

Jurisdiction

These terms and conditions are governed by Dutch law and apply to all services offered by Bitmymoney. If any provision of the User Agreement is considered illegal, invalid, or unenforceable for any reason, such provision will be deemed divisible and shall not affect the legal effects of any other provision.

If the Bitmymoney terms and conditions differ in another language or can be interpreted differently, the Dutch terms of use are decisive.

When the terms of use do not provide for a problem or action required, Bitmymoney has the deciding vote.

Handling complaints

Complaints can be reported by email to Bitmymoney. The contact details of Bitmymoney can be found on the website. This complaint must in any case include: your name, address, date and a clear description of the complaint. Bitmymoney will respond to this and work together with you to find a solution to the problem to the satisfaction of both parties. Bitmymoney will confirm the process and the agreements in writing.

Communication

You acknowledge and agree to receive all communications, notices and disclosures that Bitmymoney provides in connection with your account electronically. Bitmymoney will provide this information to you by posting information on the website and / or in the app, emailing you at your email address and / or via mobile push notifications.

Amendments

Bitmymoney reserves the right to change, add or remove parts of these terms and conditions at any time at its sole discretion. You will be notified of any changes via the website and / or app and by email. After such a notification, it is your responsibility to view the changed terms. Continued use of the website or app after posting a notification of changes to the terms means that you accept the changes.

 

The Hague, July 20th 2020