Terms of Use - Bitmove S.A.

ACCEPTANCE OF TERMS OF USE

By using this website (“bitmove.net”), registering for a Bitmove account (“Account”) or using any other services, products, data, content or other material available through the Site (“Services”) and provided by Bitmove S.A. (“we”), you (“you”) are agreeing to accept and comply with the terms and conditions of use stated below (“Terms of Use”). You should read the entire Terms of Use carefully before using this Site or any of the Services.

IF YOU DO NOT ACCEPT THE TERMS OF USE AND CONDITIONS OUTLINED BELOW, YOU MAY NOT ACCESS THIS SITE NOR USE THE SERVICES.

Bitmove reserves the right to change, add or remove parts of these Terms at any time and at its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site and the Services following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.

 

ABOUT BITMOVE AND THE SERVICES

Bitmove S.A.  Limited is incorporated in Luxembourg  with the company number 199541 and with its registered office at 145 Rue du Kiem,
8030 Strassen, Luxembourg in partnership with Swedish Tech & Design AB organisation number 556976-8251.

The Services allow registered users of the Services to:

  • Buy or sell Virtual Assets and Digital Assets from or to other Members in exchange for other Virtual Assets or Digital Assets, or for fiat currency.
  • Enter into arrangements to store Virtual Assets and Digital Assets listed on the Site with a third-party custodian.
  • Withdraw any fiat currency balance held in your Account.
  • Transfer Virtual Assets and Digital Assets to a wallet or to other users of such Virtual Assets and Digital Assets outside the Site.
  • Use Virtual Assets for purchasing goods.


 

GENERAL TERMS TO THE SITE

Depending on your country of residence, incorporation or registered office, you may not be able to use all the functions of the Site or Services. It is your responsibility to follow the rules and laws in your country of residence and/or country from which you access this Site and the Services. As long as you agree to and comply with these Terms of Use, Bitmove grants you the personal, non-exclusive, non-transferable, non-sublicensable and limited right to enter and use the Site and the Services.

We will use reasonable endeavours to ensure that the Services and the Site can be accessed by you in accordance with the present Terms of Use. However, we may suspend the use of the Site and Services for maintenance and will make reasonable efforts to give you a prior notice of this. You acknowledge in this context that this may not be possible in case of an emergency, and accept the risks associated with the fact that you may not always be able to use the Services and the Site, or carry out urgent transactions using your Account.

 

YOUR BITMOVE ACCOUNT

Opening of your Account

By opening an Account, you expressly represent and warrant:

  • That you have accepted you are legally bound by these Terms of Use.
  • If you are an individual, that you are at least 18 years of age;.
  • If you are a legal entity or acting in the name of a legal entity, that you are duly authorised to act on behalf and in the name of the legal entity, and bind the latter validly; and
  • That you have the full capacity to accept these Terms of Use, either in your own name or in the name and on behalf of the legal entity you represent, and enter into transactions involving Virtual Assets and other Digital Assets.

How We Verify Your Account

The creation and use of your Account are subject to verifications, as required by statutory and regulatory obligations incumbent on us. You agree to provide us with the information we request for the purposes of identity verification, compliance with KYC (know-your-customer) rules, as well as detection of money laundering, terrorism financing, fraud or any other financial crime. The requested information may include Personal Data (please refer to our Privacy Policy). By providing us with the information we request, you confirm that it is true and accurate, and agree to inform us in case of change concerning such information. Your Account will be blocked until we are satisfied with the information you have provided and determine in our sole discretion that it is sufficient to validate your Account. In the meantime, you will not be allowed to terminate your Account or request the deletion of the Personal Data processed in the course of verification operations.

We expressly reserve the right to cancel and/or terminate Accounts that have not been verified by the Member despite efforts made in good faith by us to contact you to obtain such verification (“Unverified Accounts”). All Unverified Accounts which have been inactive for a period of 6 months or more are further subject to transfer to a third-party escrow (the “Unverified Escrow”), and will no longer be maintained or under our legal responsibility. The administrator/trustee of the Unverified Escrow shall make any and all additional reasonable efforts required by law to determine and contact each Unverified Account owner and, after suitable effort and time has been expended, we may be required to convert the residual Virtual Assets or other Digital Assets into fiat and send it to a national authority responsible for the safekeeping of such funds

Funding Your Account

You may fund your Account via wire deposit or Automated Clearing House (“ACH”) deposits.

Wire

If you have chosen to fund your Account via wire deposits, funds from a wire deposit will be made available for trading on your Account as soon as they are settled. Please note that the deposit settlement times are subject to bank holidays, the processes of partner banks and the processes of your bank. In addition to that, deposit settlement times may be delayed because of any technical issues.

We do not accept fiat currency deposits from third-party bank accounts. The name on your linked bank account must match the name verified on your Bitmove Account. If a wire transfer is received from a third-party bank account, we will reject and return the wire immediately.

Your Account, once funded, does not and will not earn interest.

ACH Payment Method

If you have enabled ACH funding for your Account, ACH deposit amount will be available for trading on your Account upon receipt of your deposit. We will withhold any funds deposited or any Virtual Assets or Digital Assets bought with them from withdrawal until they are deemed settled. After any such funds are deemed settled, you will be able to make withdrawals again.

Please note that the deposit settlement times are subject to bank holidays, the processes of partner banks and the processes of your bank. In addition to that, deposit settlement times may be delayed because of any technical issues.

We reserve the right to increase or decrease your daily, monthly and overall limits, or make them temporarily or permanently unavailable. This may be done without notice and at our sole discretion.

Placing a Card Purchase

If you are an individual, you can perform an instant Purchase Transaction using your credit or debit card (“Card Purchase”). The Fees we charge to process instant Purchase Transactions are detailed in our Fee Schedule.

When making a Card Purchase on our website or mobile app, your card data is automatically stored by our card payment service provider via a tokenization process. This means that a sensitive data element (PAN-card number) is substituted with a non-sensitive equivalent called a token. This tokenization process is designed to keep your data safe and secure from unauthorised access by a third party. You can only register a credit or debit card held in your name.

Our appointed payment services provider may save and store payment information, such as credit card or debit card numbers and card expiration dates, entered by you on our website when you make a Card Purchase. Such stored payment information may be used as your default payment method for further Card Purchases on our website or mobile app. At any time, you can delete your card information or enter new card information. If your card has expired, the payment information relating to that particular card will not be stored anymore by our payment service provider and you will be prompted to indicate your new card information the next time you want to proceed with a Card Purchase. You are responsible for maintaining your card information up-to-date and accurate. You consent to Bitmove updating such stored information from time to time based on information provided by you, your bank or other payments services providers. You will only provide information about payment methods that you are authorized to use.

If you have any questions on how to make a Card Purchase, see our FAQ Page.

Refund Policy

All sales and purchases of Virtual Assets and other Digital Assets done with any payment method are final. We do not accept any returns or provide refunds for your purchase of Virtual Assets or any other Digital Assets from Bitmove, except for the cases provided in these Terms of Use.

In the event the exchange of fiat currency to Virtual Assets or other Digital Assets is not processed because of any technical issues or high price volatility during the card purchase procedure, Bitmove will credit the Member’s account with fiat currency.

Maintaining Your Account

Keep Your Information Up-to-Date

We are vigilant in maintaining the security of our Site and the Services. By registering with us, you agree to provide Bitmove with current, accurate and complete information about yourself, including, for legal entities, information on directors, key personnel and beneficial owners, as well as company resolution to open the Account, as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own or access the Account of any other Member at any time or assist others in obtaining unauthorised access.

The creation or use of Accounts without obtaining our prior express permission will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and we may elect to take further action against you.

Maintain the Confidentiality of Your Account Information

You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Virtual Assets and Digital Assets, and all activity including Transactions that are posted to your Account (including all Instructions to Bitmove). Any actions on the Site, transactions, orders, Instructions and operations initiated from your Account or using your password are (1) considered to have been made by you and (2) irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify Bitmove immediately of any unauthorised use of your Account or password, or any other breach of security, by email to support@bitmove.net . Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Bitmove or any user of the Site and Services.

You acknowledge that you will only credit your Bitmove Account from a bank account that is in your own name and that you will instruct payments from your Bitmove Account only to a bank account that is in your own name.

We reserve the right to cancel transfers which are made by or sent to third parties.

Keep Your Virtual and Digital Assets Safe

Bitmove’s role is limited to providing you with a platform via the Services under which we act solely as a service provider, as your agent and in accordance with your Instructions for the management and transfer of Virtual Assets and other Digital Assets.

We do not store any Virtual Assets or other Digital Assets directly, but where you Instruct us to arrange for any Virtual Assets or other Digital Assets owned by you (including any bought on your behalf) to be held until we receive further Instruction from you to sell or transfer them (with any deposit of Digital Assets and/or Virtual Assets being deemed to be such an Instruction), we will, acting on your behalf, appoint a third-party as a custodian and to hold the relevant Virtual Assets or other Digital Assets as a custodian in accordance with our agency authority (see below).

The custodian services will be provided on terms that apply directly between the custodian and you, and form an integral part of these Terms of Use. By agreeing to these Terms of Use you acknowledge and agree with custodial services terms. Bitmove does not directly provide, charge for and is not responsible for, custodian services. Any issues you have relating to custodian services should be taken up by you with the custodians, however, we may, on your behalf, provide assistance in accordance with our agency authority (see below).

Notwithstanding the direct custodial relationship between the custodian and you, if for any reason Bitmove is held or declared to have any legal or beneficial interest in your Virtual Assets or other Digital Assets, Bitmove will hold on trust for you all such right title and interest which Bitmove is held or declared to have and will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).

In order for us to manage the Site, provide the Services and create a direct relationship between you and the third-party custodian to hold the relevant Virtual Assets or other Digital Assets as custodian on your behalf, you appoint Bitmove as your agent with a perpetual and irrevocable (other than in the event of Account termination) agency authority to act as your agent to:

  • Create a direct legal-custodial relationship between you and a third-party custodian for the custody of your Virtual Assets or other Digital Assets, as well as appointing authorised persons within Bitmove to instruct such third-party custodians on your behalf;
  • Access and/or transfer Virtual Assets or other Digital Assets as required for the operation of the Site and provision of the Services, including:
    • Storing and keeping confidential private keys in respect of Virtual Assets or other Digital Assets;
    • Transferring cryptocurrencies to third-party custodians (who are entitled in turn to appoint sub-custodians and provide the custodian services to you through such sub-custodians or other nominees or agents); and
    • Moving cryptocurrencies between hot and cold wallets held by these custodians to allow sufficient hot wallet liquidity to support trades on the Site whilst at the same time providing the additional security of cold wallet storage;
  • Share your information with third-party custodian-service providers so that they can be engaged to provide custodian services to you (see below);
  • Transfer Virtual Assets and Digital Assets to a wallet or to other users of such Virtual Assets and Digital Assets outside the Site;
  • Undertake the following events that act, or could act as restrictions, or impact your rights:
    •  Freezing of Ripple accounts in accordance with Ripple Labs policy;
    •  Termination of our relationship with you and/or your Account;
    •  Suspension of our relationship with you and/or your Account;
    •  Prohibiting wash trading and other activities;
    •  Requiring minimum trade sizes;
    •  Blocking Accounts in certain circumstances;
    •  Applying service downtime and unavailability restrictions;
    •  Complying with enforcement-agency orders or regulatory actions;
    •  Offsetting any outstanding obligation you have to Bitmove which may include the sale of any Virtual Assets or other Digital Assets in order to cover the outstanding obligation you have; and
  • Otherwise act only on your instructions in respect of any Virtual Assets or other Digital Assets, including in respect of:
    •  Any buying or selling of Virtual Assets or other Digital Assets;
    •  The accessing or transferring of Virtual Assets or other Digital Assets between wallets; and/or
    •  Any other purpose or action as instructed by you.

By agreeing to these Terms of Use you acknowledge and agree that in doing so, you instruct us on an irrevocable ongoing basis to undertake all of the above-mentioned actions on your behalf. You cannot revoke this ongoing Instruction by closing your Account, in which case it will lapse only when your Account is closed.

As a result of this limited agency relationship, we do not, and you agree that we do not, have or acquire any rights, title or interest in any Virtual Assets or other Digital Assets that are held on your behalf by the third-party custodian.

We are not an intermediary, do not acquire any rights, title or interest in, and do not assume and have no rights or control over any Virtual Assets or other Digital Assets or any other Member assets other than in respect of actions taken in accordance with our agency authority and your Instructions. As a result, we will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).

Our Fees

We charge Fees for our Services. Fees are described and available in our Fee Schedule. We reserve the right to change our Fees at any time and at our sole discretion. You will be notified of any changes in advance through your Account or email. Upon such notification, it is your responsibility to review the amended Fee Schedule. Your continued use of the Site following the posting of a notice of Fee changes signifies that you accept and agree to the changes.

We will not charge you any fees other than the Fees set out in the Fee Schedule. We may not use Digital Assets and/or Virtual Assets in any way to generate revenue other than in connection with the charging of Fees as set out in the Fee Schedule.

Closing Your Account

You may close your Account at any time.

You may terminate this agreement with Bitmove and close your Account at any time here, following settlement of any pending Transactions.

We may close or suspend or freeze your Account on notice.

We may, by giving notice, at our sole discretion:

  • Limit, suspend or terminate your access to the Service, the Site and/or to your Account;
  • Prohibit access to the Site and its content, services and tools;
  • Delay or remove hosted content; and
  • Take technical and legal steps to keep Members off the Site if we suspect that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms.

Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation:

  • Attempts to gain unauthorised access to the Site or another Member’s account or providing assistance to others attempting to do so;
  • Overcoming software security features limiting use of or protecting any content;
  • Usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities;
  • Violations of these Terms of Use;
  • A failure to pay or a fraudulent payment for Transactions;
  • Unexpected operational difficulties; or
  • Upon the request of law enforcement or other government agencies.

The suspension or escrow of an Account shall not affect the payment of Fees due for past Transactions.

Upon termination or suspension, you shall send details of a valid bank account to allow for the transfer of any currencies credited to their account. This bank account must be held by you. Virtual Assets or other Digital Assets may be transferred to a valid bank account only after conversion into a fiat currency. We shall transfer the currencies as soon as possible following your request and within the time frames we specified.

We will arrange to send you the credit balance of your Account; however, in certain circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will make all reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment; however, where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.

Upon Account closure, any amount less than 10 USD/EUR 100 SEK in value will not be returned.

We reserve the right to not convert Virtual Assets or other Digital Assets into fiat and to return them to a Wallet that belongs to the Member.

For the avoidance of doubt, any action taken by Bitmove to suspend, delay, cancel or freeze any instructions and/or to suspend your Account will not affect your rights, title or interest in respect of your Virtual Assets and other Digital Assets which are held by a third-party custodian on your behalf, but may affect Bitmove’s ability to execute your Instructions, which you hereby acknowledge and agree.

TRADING WITH BITMOVE

Risks

The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Such price fluctuations may increase or decrease the value of your assets at any given moment. Any currency – virtual or not – may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.

Virtual Asset and Digital Asset trading also has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Virtual Assets and Digital Assets are a unique type of asset, backed by technology and trust. There is no central bank that can issue more cryptocurrency or take corrective measures to protect the value of Virtual Assets and Digital Assets in a crisis.

Instead, Virtual Assets and Digital Assets are an as-yet autonomous and largely unregulated global system of cryptocurrency firms and individuals. Traders put their trust in a digital, decentralised and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.

The trading of Virtual Assets and Digital Assets is often susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence in Virtual Assets and Digital Assets might collapse because of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling.

There may be additional risks that we have not foreseen or identified in our Terms of Use.

You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Virtual Assets or Digital Assets.

We use our banking providers in order to facilitate the receipt of fiat currency from Members and payments to other Members. Our banking providers DO NOT transfer, exchange or provide any services in connection with Virtual Assets or Digital Assets. Your fiat currency will be held in a bank account in the name of Bitmove together with other Members' fiat currency. Where possible in a relevant jurisdiction which recognises the concept of a client account, we will notify the relevant banking provider that the bank account is a client account in which we hold fiat currency on behalf of Members. You will, in any event, remain the beneficial owner of the fiat currency that we hold on your behalf. We will maintain detailed records of all fiat currency held on behalf of Members. Whilst Bitmove uses reasonable care in the appointment of its banking providers, in the event of a banking provider becoming insolvent or entering into an insolvency process in a relevant jurisdiction, Bitmove may have only an unsecured claim against the banking provider, and Members’ fiat currency balances may be at risk subject to any protections provided at law in the relevant jurisdiction.

We engage with third-party custodians in order to hold Virtual Assets and Digital Assets on your behalf. Your Virtual Assets and Digital Assets will be held on your behalf in a wallet in the name of Bitmove together with other Members’ Virtual Assets and/or Digital Assets. They may also from time to time be held in the wallet together with Bitmove’s Virtual Assets and/or Digital Assets which reflect Bitmove’s fees, but which are recorded on Bitmove’s ledger as belonging to Bitmove, and which you instruct Bitmove to collect by withdrawing them from the wallet. We will maintain detailed records of all Virtual Assets and Digital Assets which Members hold with third-party custodians appointed by us.

As set out in above, Bitmove will act only on your Instructions in respect of Virtual Assets and Digital Assets, and does not otherwise acquire any right, title or interest in them. Whilst Bitmove uses reasonable care in the appointment of third-party custodians, in the event of a third-party custodian becoming insolvent or entering into an insolvency process in a relevant jurisdiction, you may have only an unsecured claim against the third-party custodian, and Members' Virtual Assets or Digital Assets may be at risk subject to any protections provided at law in the relevant jurisdiction.

Our Approach to Digital Forks in Virtual Assets

Bitmove has no control over the software protocols which govern or constitute the framework of Virtual Assets or other Digital Assets. Therefore, Bitmove assumes no responsibility for the update or any modification of the underlying protocols, and Bitmove is not able to guarantee their functionality, security or availability.

By accepting the present Terms of Use, you acknowledge and accept the risk that underlying software protocols relating to any of the virtual currencies available on the Site are likely to be subject to sudden changes in operating rules (hereafter “fork”), and such forks may materially affect the value, function and/or the name of the virtual currencies that are exchanged or acquired through the Site.

Bitmove will use reasonable endeavours to provide you with notice of forks by publishing such a notice on the Site, including, to the extent possible, whether Bitmove intends to support either or both branches of a fork, and you agree that you will read such notices in order to make a decision in that respect.

However, it is your responsibility to make yourself aware of, and consider how to deal with, upcoming forks, including whether to give us Instructions for the withdrawal of the balance of any Virtual Assets or other Digital Assets. In the event of a fork, there is a risk that Bitmove may need to temporarily suspend operations in relation to that fork without providing advance notice to you. Bitmove may in its reasonable discretion, decline to support either or both branches of a fork.

You acknowledge that third-party custodian-service providers may operate fork policies and, under their terms as entered into with you in respect of custodian services, may not be obliged (or able) to support all or any forks. You should ensure you check their fork policies regularly (as well as the terms of your agreement with custodian-service providers instructed by Bitmove on your behalf, and whenever you become aware of a forthcoming fork. Notwithstanding that a third-party custodian-service provider may support a particular cryptocurrency, including a fork, this will not oblige Bitmove to support that cryptocurrency or fork.

In the event of a fork which affects Virtual Assets or other Digital Assets held pursuant to these Terms of Use, and which is unsupported by Bitmove:

  • We will not acquire any right, title or interest in the unsupported forked Virtual Asset and/or other Digital Asset; and
  • We may be unable to give effect to any Instructions given in respect of those Virtual Assets or other Digital Assets and Bitmove will have no liability to you in respect of the unsupported forked Virtual Assets or other Digital Assets.

In the event that we subsequently decide to support the forked Virtual Assets or other Digital Assets, Bitmove will then give effect to your Instructions

By agreeing to the present Terms of Use, you acknowledge the risks presented by forks and you accept that we have no responsibility to assist you to move or sell Virtual Assets or other Digital Assets of an unsupported branch of a forked protocol.

Acceptable Use of Our Services

Wash Trading

We do not allow you to cross trade, either alone or in collusion with others or to place an order, which would result in a self-execution—i.e., where the same trader or group of traders would act as both the maker and taker for the trade.

If two orders of opposing sides would result in a crossed trade, both orders are subject to specific measures, ranging from scrutiny, cancellation, suspension or prohibition to trade on the Site. If two orders of the same quantity would result in self-execution, both orders are subject to specific measures, ranging from scrutiny, cancellation, suspension or prohibition to trade on the Site.

Market Manipulation

You are prohibited from engaging or attempting to engage in market manipulation. This prohibition applies to any kind of activity that results in or has the purpose of:

  •  Artificially controlling or manipulating the price or trading volume of any of the virtual currencies listed on the Site; and
  •  Manipulating of a benchmark, including, but not limited to, the transmission of false or misleading inputs, or any other action that manipulates the calculation of a benchmark.

Market manipulation will trigger specific measures, ranging from scrutiny, cancellation of orders, suspension or prohibition to trade on the Site and disclosure to third parties including full disclosure to competent authorities.

We reserve the right to suspend, delay or cancel an Instruction or series of Instructions issued by a Member or colluding Members which if executed would result in a price swing of 5% or more of the value of a cryptocurrency available on the Site.

You will not take, directly or indirectly, any action designed, or that might reasonably be expected, to cause or result in destabilization or manipulation of the price of Virtual Assets or Digital Assets, which are available on the Site.

Minimum Trade Size

The minimum trade size is defined by the Bitmove 50 USD/EUR, 500 SEK.

Prohibited Activities

You agree not to use the Services to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, malicious hacking or any criminal or illegal activity.

You will refrain from using your Account, the Site and Services for any other use than your personal use, unless you are a legal entity that has opened a corporate account with us.

Limited Right of Use

Unless otherwise specified, all materials on this Site, including, but not limited, to text, graphics, logos, icons and images (“Materials”), are the property of Bitmove and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational and/or non-commercial use, provided you comply with all copyright and other proprietary notices.

The trademarks, service marks and logos of Bitmove and others used on this Site (“Trademarks”) are the property of Bitmove and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Bitmove. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other website or networked computer environment for any other purpose is strictly prohibited; any such unauthorised use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.

Transaction Recovery

You are fully responsible for any mistakes, errors or defects which may arise in the course of any transaction that leads to partial or complete loss of your Digital Assets and/or Virtual Assets. Bitmove shall not be liable for any damages resulting from any actions previously described. Bitmove shall in no case be liable for any loss, including, but not limited to, transfers between addresses, transactions, deposits or withdrawals resulting from your improper actions or activities, or erroneous transactions, deposits or withdrawals resulting in your Digital Assets and/or Virtual Assets being lost. Bitmove shall not compensate you for any losses resulting from such actions or activities.

Bitmove may provide, in certain circumstances, an investigation and possible recovery of the lost Digital Assets and/or Virtual Assets as a payable service. Therefore, Bitmove may, upon the request of a Member, utilize its best efforts to attempt to return misdirected Digital Assets and/or Virtual Assets to the Member. Requests for transaction recovery shall be sent to support@bitmove.net. After receiving the transaction recovery request, Bitmove will make a preliminary assessment for each transaction and reserves the right to refuse the recovery of a particular transaction.

Bitmove will charge an investigation fee for any such investigation. The fee shall amount to 10% of the value of lost Digital Assets and/or Virtual Assets, but in no case less than 50.00 USD/EUR. The fee will be charged and shall be paid by the Member in Digital Assets or Virtual Assets which are subject to the transaction recovery. Bitmove may investigate transactions that occurred not more than thirty (30) days prior to the date of the request for the recovery of Digital Assets and/or Virtual Assets. Bitmove will not attempt to recover transactions with the value below 100.00 USD/EUR. Due to the specifics and case-by-case nature, Bitmove does not, in any way, guarantee success and shall not be liable if the investigation is ineffective or unsuccessful, nor can Bitmove provide the exact timing for such investigations, but will strive to provide feedback within a reasonable time.

COLLECTION AND USE OF YOUR DATA

Privacy is very important to us. Full details of our Privacy Policy can be found at Privacy Policy. We recommend that you read the Privacy Policy carefully, so that you know the data that we collect, how we use the data and who we share your data with.

MISCELLANEOUS

Financial Regulation

Bitmove, as a cryptoasset business in the Luxembourg, complies with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2015, as amended (“MLRs”). These regulations are designed to prevent the use of Bitmove for money-laundering or terrorist-financing activities. Notwithstanding the above, the Services we provide are currently not regulated by the Financial Conduct Authority (“FCA”) or any other authority within the Luxembourg.

APIs and Widgets

We may provide access to certain parties to access specific data and information through our API (Application Programming Interface) or widgets. We also may provide widgets for your use to enter our data on your Site. You are free to use these in their original unmodified and unaltered state.

External Websites

We make no representations whatsoever about any External Websites you may access through the Site including the websites of any third-party custodian service providers. Occasionally, the Bitmove website may provide references or links to External Websites. We do not control these External Websites or third-party sites or any of the content contained therein. You agree that we are in no way responsible or liable for the External Websites referenced or linked from the Bitmove website, including, but not limited to, website content, policies, failures, promotions, products, opinions, advice, statements, prices, activities, advertisements, services or actions and/or any damages, losses, failures or problems caused by, related to or arising from those sites. You shall bear all risks associated with the use of such content.

External Websites have separate and independent terms of use and related policies. We request that you review the policies, rules, terms and regulations of each site that you visit. It is up to you to take precautions to ensure that whatever you select for your use is free of items such as viruses, worms, Trojan horses and other items of a destructive nature.

Means of Communication

Unencrypted email messages sent over the Internet are not secure, and Bitmove is not responsible for any damages incurred by the result of sending email messages in this way. We suggest sending email in encrypted formats; you are welcome to send PGP encrypted emails to us. The instructions and keys to do so are available upon request.

If you send unencrypted or unsecured email or other types of communications to us, we may respond using the same channels, and you hereby accept the risks associated therewith.

Limitation of Liability

To the extent permitted by law, Bitmove will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arose from gross negligence, wilful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by negligence which may not be limited or excluded by law. Although Bitmove endeavours to provide accurate and timely information on the Site, the Site may not always be entirely accurate, complete or current and may include errors. Bitmove may change or update the Site at any time without notice, and you should accordingly verify with independent sources all information before relying on it to take decisions or actions. You remain entirely responsible for your decisions and actions. Subject to the above, you also agree and acknowledge that Bitmove has no liability or responsibility in respect of the custody of any Virtual Assets and/or Digital Assets.

Subject to the foregoing, Bitmove’s aggregate liability for claims based on events arising out of or in connection with any single Member’s use of the Site and/or Services, whether in contract, tort or otherwise, shall in no circumstances exceed the fees paid by you to Bitmove during the 12 months immediately preceding the date of any claim giving rise to such liability.

Indemnity

To the full extent permitted by applicable law, you hereby agree to indemnify Bitmove and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if directly or not directly arising from your use of the Site or the Services or from your violation of these Terms of Use.

Taxes

It is your responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. Your transaction history is available through your Account.

Force Majeure

If we are unable to perform the Services outlined in the Terms of Use due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy, we shall not be liable for the Services provided under this agreement during the time period coincident with the event.

GOVERNING LAW AND JURISDICTION

The Terms of Use shall be governed and construed in accordance with the law of Luxembourg. The parties hereto agree to irrevocably submit to the exclusive jurisdiction of the courts of Luxembourg.

DEFINITIONS

Account. The contractual arrangement wherein an individual has accepted the Bitmove Terms of Use, Fee Schedule and Privacy Policy, and received approval to use the Services, including the purchase and sale of Virtual Assets and other Digital Assets, and to perform associated Transactions.

Buyer(s). Member(s) that submit an offer to buy Virtual Assets or other Digital Assets through the Services.

Member(s). Buyers and Sellers as well as any holder of an Account.

Digital Asset(s). Digitalised right to use in a binary format.

External Website(s). Websites not owned or operated by Bitmove.

Fee(s). Refers to the fee which is payable to Bitmove as further defined in the Fee Schedule.

Instructions. Means:

  • Instructions received or directed via the Site or as received directly from you in any medium other than the Site, where Bitmove has expressly agreed in writing to accept such instructions from you other than via the Site;
  • Acts Bitmove may take as set out in these Terms of Use or in any other form of documentation establishing the legal relationship between you and Bitmove, including instructions within the remit of our agency authority set out above (including the Instruction to create the legal custodial relationship with the third-party custodian for the purpose of administering the Services for you); and
  • Instructions mandated by law, regulatory authority or enforcement agencies.

Member(s). Refers to Buyers and Sellers as well as any registered holders of an Account.

Personal Data. Information that identifies an individual, such as name, address, email address, trading information and banking details. “Personal Data” does not include anonymised and/or aggregated data that does not identify a specific user.

Price. The “price per coin” for which Members are willing to buy or sell Virtual Assets or other Digital Assets. The Price may be expressed in any of the currencies deposited by Members in their Account and supported by the Services. See our Site for a full list of currencies.

Seller(s). Member(s) that submit an offer to sell Virtual Assets or other Digital Assets through the Services.

Service(s). The technological platform, functional rules and market managed by Bitmove to permit Sellers and Buyers to purchase and sell Virtual Assets.

Site. Bitmove exchange platform as made available on websites www.bitmove.net  

Transaction. Includes the following:

  • The agreement between the Buyer and the Seller to exchange currencies, Virtual Assets or other Digital Assets through the Services for currencies at a commonly agreed rate (“Purchase Transaction”);
  • The exchange of fiat currencies and Virtual Assets between Members (“Conversion Transaction”);
  • The exchange of Virtual Assets between Members (“Transfer Transaction”);
  • The exchange of fiat currencies among Members (“Currency Transfer Transaction”); and
  • The purchase of ancillary products (“Purchase Transaction”).

Bitmove may not offer all these transaction types at this time or at all locations.

Transaction Price. The total price paid by the Buyer for each Transaction performed through the Services.

Virtual Asset(s). Digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes. Virtual Assets such as cryptocurrencies are a form of Virtual Asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets. Virtual Assets use decentralised control as opposed to centralised digital currencies and central banking systems.

CONTACT US

If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms and/or your use of the Site and the Services, your Account or any other matter, please contact support@bitmove.net.