By using the website and/or the mobile app and by creating a Bitmymoney account (also read as account), you agree and accept these terms.
You should carefully read the entire terms of use before using the website and/or the mobile app.
By using the website and/or the mobile app and by 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 aged under 18, you have permission from a parent or guardian;
and
(c) you are not a US person;
and
(d) you have full legal capacity 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 may also refer to the services, the website www.bitmymoney.com and the mobile app provided by Bitmymoney.
The Stichting Bitmymoney Client Management Foundation, registered in the trade register under number 66858658 and with its registered office at Wilhelmina van Pruisenweg 104, 2595 AN The Hague, the Netherlands, hereafter the Foundation. The Foundation is exclusively a party intended for the separation of assets and the custody of your funds.
The terms of use constitute the agreement between you and both Bitmymoney and the Foundation.
By using your Bitmymoney account, you acknowledge that you are aware of the risks associated with owning and using cryptocurrencies, such as Bitcoin.
You are aware that the value of Bitcoin and other cryptocurrencies can fluctuate greatly at any time and may even become worthless.
You are aware that all transactions are final and cannot be reversed.
You must read and understand the overview of risks. This overview of risks is part of these terms of use.
Bitmymoney may refuse your account, at its sole discretion for any reason or without reason.
In order to use certain services of your Bitmymoney account, you may be asked to provide Bitmymoney with personal information, including, but not limited to, your name, ID, telephone number, email address, address details and bank account information.
Bitmymoney reserves the right to verify data with other databases (for example the trade register). Bitmymoney may further ask questions in the verification process, including but not limited to questions for proof of origin of funds (both euros and Bitcoin) and questions for the purpose of additional verification in order to comply with applicable laws and regulations.
You are aware that the verification processes take time and may lead to a temporary suspension of your transactions with possible negative consequences for you. You accept these risks and acknowledge that Bitmymoney cannot be held liable.
You are responsible for the accuracy of the information you provide and you agree to inform Bitmymoney if the information changes.
Personal information and submitted documents are stored securely for as long as you are registered with us and thereafter for as long as required by law.
If incorrect, untimely or insufficient information is provided, Bitmymoney is entitled to suspend the account and freeze the funds.
Bitmymoney reserves the right to suspend, refuse or cancel transactions and freeze an account in unusual situations, or if fraudulent activity is suspected, or in response to a subpoena or court order. Bitmymoney reserves the right to charge any costs.
If a transaction cannot be completed because it is in breach of the terms, you may be charged costs.
A transaction may be suspended where additional information or verification is required.
When suspending a transaction, the rate you agreed with Bitmymoney at the time you ordered the transaction to be executed applies.
Bitmymoney reserves the right to investigate transactions in your account and take action depending on the outcome.
You are not entitled to profit from any errors made by Bitmymoney. Bitmymoney reserves the right to correct errors, if necessary by reclaiming transactions.
You can cancel your Bitmymoney account at any time, after settlement of ongoing 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) for compliance reasons, (4) bypassing software security features, (5) as required by a valid subpoena or court order.
If Bitmymoney terminates an account, funds may be sold. This is entirely at the discretion of Bitmymoney. When selling your funds, the value will be transferred to the verified bank account in your account.
All purchases and sales relate to digital goods without a fixed value. With each transaction, you agree to the price that 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 every transaction. The offered price remains valid for a specific period of stated on the website. This period starts after you have initiated the order for a transaction. You must complete the payment for purchase or approve a sale or exchange transaction within this time frame, only then will Bitmymoney process the transaction at the offered price.
Although Bitmymoney makes every effort to place accurate, complete and up-to-date (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.
All applicable fees and costs are displayed on the Bitmymoney website. Bitmymoney may change the fees and costs at any time.
When opening a Bitmymoney account, you agree that Bitmymoney charges costs and fees. A fee may be charged for the safe keeping of your cryptocurrencies.
When buying, selling and exchanging cryptocurrencies, you agree to the price shown and the fees and costs applied. When sending and receiving Bitcoin, you agree to the costs applied.
Bitmymoney sets limits on the amount in cryptocurrencies that can be bought, sold, sent, swapped or deposited. These limits entail both minimum and maximum amounts. Limits can be applied per transaction and within specific time periods. Limits are stated on the website and in 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 the benefit of, but not limited to, changes in legislation.
The system does not distinguish between customers when processing transactions; this is on a first come, first served basis. This principle cannot be influenced by anyone.
Prices apply to all customers at a given time, without distinguishing between customers. The system always shows the current price, which applies to every customer at the same time. The price is valid for a limited period.
Bitmymoney may, at its sole discretion, for any reason and without liability to you, adjust, temporarily suspend or terminate services. Bitmymoney will not do this lightly.
Bitmymoney may stop supporting a cryptocurrency, without owing you a compensation. You will have ample time to exchange or cash out your credit in this cryptocurrency. Bitmymoney will announce this in advance. If a cryptocurrency is no longer supported, Bitmymoney can force the credit to be exchanged to Bitcoin.
All transactions are executed directly against Bitmymoney. This allows Bitmymoney to offer you a guaranteed price for a pre-set period. This means that the price is not formed within a free market, but is determined by Bitmymoney itself.
If Bitmymoney is unable to give a price, you will be notified. In this case you will not be able to execute your transaction.
You can only buy and sell from and to bank accounts that are in your own name and for which you have legal authority.
When using a business bank account, you must demonstrate that you have legal authority. Bitmymoney will perform additional verifications and may impose additional requirements on your account.
Bitmymoney aims to process a transfer to Bitmymoney into a purchase within one business day after receipt on our bank account.
Bitmymoney has no influence on the processing speed of payouts and is not responsible for any problems with payouts due to a malfunction or delay at the bank.
You can only send and receive Bitcoin to and from your own personal wallet. In the verification procedure you must be able to prove ownership of your personal wallet.
When sending, it is your responsibility to check your own Bitcoin address, if you make a mistake it is not possible to reverse it. Bitmymoney has no influence nor responsibility on the further processing by the Bitcoin blockchain network.
Deposits are only visible in your Bitmymoney account after sufficient confirmations in the Bitcoin blockchain network, Bitmymoney cannot influence this process. You are responsible for the deposit transaction yourself, so that it receives sufficient network confirmations. It is up to Bitmymoney to determine how many network confirmations are sufficient.
You are not permitted to receive funds from third parties in your Bitmymoney account via the blockchain network.
Bitmymoney reserves the right to investigate the origin and destination of your Bitcoin. Deposits and transfers can be paused until, in Bitmymoney's opinion, sufficient proof has been given about the origin or destination. If there is insufficient proof about the origin or destination, this may be a reason to terminate your account.
Bitmymoney reserves the right to charge costs if deposits are received that do not meet the requirements of these terms and conditions. For deposits lower than the minimum limit, Bitmymoney reserves the right not to credit them and to charge costs.
You may store crypto currency funds in your account, and these are visible as a balance.
You guarantee that funds that you store in your account have been obtained legitimately and are solely stored for yourself.
You acknowledge and agree that, although Bitmymoney and the Foundation will take all reasonable measures to secure the funds, they 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 for benefits that may arise from the possession of cryptocurrencies, such as but not limited to forks, staking and airdrops. Bitmymoney will take into account multiple factors, such as sufficient interest, listing on multiple exchanges and sufficient value to justify the effort required by Bitmymoney. The decision is at the sole discretion of Bitmymoney.
The Foundation stores your cryptocurrencies securely. For security reasons, the Foundation may store cryptocurrencies offline and with third-party custodians. At least 95% of all customer funds are held in offline storage in various locations. As a consequence, the Foundation may need to retrieve this information from offline storage before Bitmymoney can execute a cryptocurrency transaction according to your instructions. For this reason your cryptocurrency transaction may be delayed by two business days or more.
You accept the risk that a cryptocurrency transaction may be delayed by Bitmymoney and you agree that Bitmymoney will not be liable for any damages arising out of or in connection with this delay.
Customer funds in Bitcoin and other cryptocurrencies are held in the Foundation. The Foundation is responsible for the safekeeping of all cryptocurrencies of all clients.
The Foundation at all times holds sufficient assets to cover the liabilities of the Foundation at least 1:1. This means that all customer funds are present.
The Foundation may not use the customer funds for any other purpose than for safekeeping.
Under no circumstances can Bitmymoney BV claim the customer funds in this Foundation.
Bitmymoney will never ask you to provide passwords or login details.
Entering the correct data is your own responsibility and is of great importance as transactions cannot be reversed. Bitmymoney cannot accept liability for errors in your process.
Bitmymoney offers options to further secure your Bitmymoney account, it is your responsibility to make use of them.
You are obliged to immediately inform Bitmymoney of any unauthorized use of your account or password, or any other breach of security.
If you know or suspect that your login details have been stolen or may be misused, you must contact Bitmymoney immediately.
You are responsible for choosing a sufficiently reliable password and keeping your login details and other authentication data confidential. We accept no liability if the login details and/or authentication data fall into the wrong hands.
You are responsible for the proper security of your e-mail and the devices with which you use Bitmymoney. You use a secure internet connection, so no public wifi. Bitmymoney accepts no liability for damage or interruptions caused by computer viruses, spyware, scareware, Trojan horses, worms and other malware that can affect your computer or other equipment. You ensure regular use of 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 appear to come from Bitmymoney. If in doubt, you should contact Bitmymoney.
You acknowledge and agree that Bitmymoney is not liable for any damage or interruption caused by spoofing or phishing.
Unless otherwise stated, Bitmymoney assumes that you are the person who is logged into your account using the correct login details. You accept responsibility for – and bear the full risk of – all activities that occur in your own account and all transactions entered into your own account.
Your account is strictly personal. You agree that you will not use your account to carry out transactions on behalf of others. Your account cannot be transferred to another person without the written permission of Bitmymoney.
You agree that you will not use your account to conduct any business or activities unless otherwise agreed with Bitmymoney.
You agree that you will not use any account other than your own, or attempt to access another person’s account, or assist others in gaining unauthorized access.
You declare that the funds for purchase have been obtained legitimately. You declare that any Bitcoin you receive has been obtained legitimately and that you will only receive and send to your own personal Bitcoin wallet.
It is strictly prohibited to use Bitmymoney for illegal activities, including but not limited to money laundering, illegal gambling, sanctions evasion, fraud, terrorist financing, drug trafficking, tax evasion, trading in illegally obtained cryptocurrencies, or malicious hacking.
If suspicious activity is detected on your account by Bitmymoney, we will ask you for additional information and will freeze your account and all pending transactions pending this information. You agree to comply with these requests. 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 applicable in the country from which you access the website or app.
If you violate the rules for unauthorized use, you may be held liable for any damages incurred by Bitmymoney.
In the event of violations of the law, Bitmymoney is obliged to report this to the competent authorities.
Bitmymoney does not guarantee continuous, uninterrupted, error-free access to all parts of the Bitmymoney services. Bitmymoney does its utmost and makes all reasonable efforts to ensure that the services function as well as possible, 24 hours a day, 7 days a week, but can never fully guarantee this. Particularly during major fluctuations in the price, access and operation of the website and the app may be affected. This may lead to limited access to your account and the inability to make transactions.
Depending on the country from which you use the website and/or the app, you may not be able to use the website and/or app or use it less well.
Uncertainty in the blockchain or in the protocol may be a reason to suspend parts of the service for a period.
Bitmymoney may suspend the services for maintenance. Bitmymoney will make all reasonable efforts to notify you in advance, you acknowledge that this may not be possible in the event of an emergency.
We shall not be liable for any delays or interruption of service resulting directly or indirectly from any cause beyond our reasonable control, including but not limited to: terrorism, hacks, third party DDoS attacks, civil unrest, war, pandemic, bankruptcy of any of our banks or partners, strikes or other labor disputes, fire, interruption of telecommunications or internet services or network provider services, failure of equipment and/or software, power failures, bank failures, problems in the blockchain network or any other event beyond our reasonable control.
Force Majeure shall not affect the validity and enforceability of the remaining provisions.
You acknowledge and agree that Bitmymoney can never be held liable for damages in any form whatsoever arising from force majeure.
You agree to indemnify Bitmymoney and each of its employees and agents from any claim or demand (including legal fees and any fines imposed by a regulatory authority) arising out of or in connection with (a) your breach of this agreement, (b) any unlawful or improper use of your Bitmymoney account, or (c) your violation of any law, rule or regulation, or the rights of a third party.
Complaints can be reported to Bitmymoney by email. The complaints procedure and a complaint form can be found on the website. This complaint must include at least: your name, email address of your account, date and a clear description of the complaint. Bitmymoney will respond to this and cooperate with you to find a solution to the problem, to the satisfaction of both parties. Bitmymoney will confirm the process and agreements in writing.
Fair use applies to all our services. In the event of excessive or abnormal use; such as but not limited to deposits below the limit and predominantly deposit and send transactions, Bitmymoney may request you to cease your activities. Bitmymoney is entitled to suspend your account and freeze the funds.
It is your own responsibility to determine whether, and to what extent, taxes apply to your transactions. The value of your cryptocurrencies at Bitmymoney as of January 1st of each year can be viewed in your account.
If you do not use your account for 5 years or more, Bitmymoney may contact you about continuation of your account.
If you do not respond to contact requests from Bitmymoney about continuing your account, your account will be closed. Funds in your account will be converted to euros and deposited into your verified bank account, minus any costs incurred. If no verified bank account is present in your account, the credit will expire.
Protecting your privacy is very important to Bitmymoney. Bitmymoney has drawn up a privacy policy for this purpose, in which your rights and details about the storage, disclosure and processing of personal data are recorded. You agree to this privacy policy.
Bitmymoney does not share user data with third parties unless it is legally obliged to do so. If Bitmymoney is legally obliged to provide data, by means of a court order, this will be complied with.
Our services consist of facilitating the buying, selling, exchanging, receiving, holding and sending of cryptocurrencies. These services fall under the Wwft (Prevention of Money Laundering and Terrorist Financing Act) and under the European MiCAR (Markets in Crypto-Assets Regulation) and TFR (Transfer of Funds Regulation).
As a result, Bitmymoney has the legal obligation to identify its customers, monitor transactions and report unusual transactions to the competent government authorities.
These terms of use are governed by Dutch law and apply to all services offered by Bitmymoney.
If any provision of these terms is deemed illegal, invalid or unenforceable for any reason, such provision shall be deemed severable and shall not affect the legal consequences of any other provision.
If the Bitmymoney terms and conditions differ or can be interpreted differently in another language, the Dutch general terms and conditions shall prevail. If the terms do not address a problem or require action, Bitmymoney will have the final say.
You acknowledge and agree to receive all communications, notices and disclosures provided by Bitmymoney 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 it to your account email address and/or sending it via mobile push notification.
Bitmymoney reserves the right to change, add or remove portions of these terms at any time at its sole discretion. You will be notified of any changes via posting on the website and/or in the app. After such notification, it is your responsibility to review the changed terms. Continued use of the website or app following the posting of a notice of changes to the terms means you accept the changes.
Bitmymoney strives to provide honest and clear information. Bitmymoney does not provide any advice regarding cryptocurrencies. Bitmymoney can provide general information about cryptocurrencies, price developments and news. You acknowledge that you do not consider this as financial advice, investment advice or other advice, but as information from which no rights can be derived. You are responsible for assessing this information for correctness and accuracy.
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.
The Hague, 28th of October 2024