(Last Modified On: April 9, 2019)
THE SUBMISSION (INCLUDING, WITH SUBMISSION (INCLUDING, WITHOUT LIMITATION, CLICKING THE “CONTINUE”, “CHECKOUT”, AND/OR “SUBMIT” BUTTON IN THE ORDER FORM ON THE BITBUY.CA WEBSITE) OF THE CUSTOMER'S ORDER WILL CONSTITUTE THE CUSTOMER'S ACCEPTANCE OF THESE TERMS AND CONDITIONS.
This agreement (“Terms and Conditions”), in addition to any other specific agreement between Bitbuy Inc. (“Bitbuy”) and the customer (“the Customer”), represents the complete understanding and agreement between Bitbuy and Customer.
This Terms and Conditions agreement supersedes any other written agreement including, without limitation, digitized, computerized, oral agreement, and/or agreement by conduct, except when expressly agreed to the contrary in writing by Bitbuy.
Upon notice published on Bitbuy website, Bitbuy may change or discontinue any provision of this Terms and Conditions agreement from time to time, including, without limitation, all services provided by Bitbuy, pricing, services, and products.
Any such change or discontinue of any provision will legally bind the Customer from the time Bitbuy publishes notice of the change on the Bitbuy website. It is the Customer's sole responsibility to ensure that the Customer is up to date on the most current version of the Terms and Conditions agreement.
In accordance with the Terms and Conditions, Bitbuy will provide services to the Customer in exchange for fees and full compliance with the following Terms and Conditions:
1. Provision of Bitbuy Services
A. Bitbuy Services Defined. " Bitbuy Services" include, without limitation, the following:
I. any act by Bitbuy of serving the Customer regardless of duration and whether or not paid for;
II. any act of setting up, connecting, maintaining, terminating, or reconnecting the "Customer's Account" (see section 1. B.);
III. any use by the Customer of software, information, and services provided by Bitbuy;
IV. any act, or provision of any service, by Bitbuy related to crypto-currency procurement (including, without limitation, server usage and technical support);
V. any provision by Bitbuy, and any use or occupation by the Customer, of software, or crypto-currency payment processing;
VI. any access to software, information, and services provided to Customer by others affiliated with Bitbuy via the world wide web and Internet;
VII. any aspect related to the Bitbuy website, including the Bitbuy website itself;
VIII. any act by Bitbuy related to the submission and/or payment of crypto-currency for the Customer;
IX. any other service mentioned in the Terms and Conditions agreement;
X. any other service provided by Bitbuy to the Customer;
XI. any other service provided by Bitbuy and used by the Customer.
B. Customer's Account Defined. "Customer's Account" means the space on Bitbuy web servers that maintains transactional data and information provided by the Customer in exchange for services provided by Bitbuy.
C. Amendment of Fees & Charges. Bitbuy may amend the fees and/or charges for any Bitbuy Service at any time.
D. Management & Backup of Data. The Customer is solely responsible for the management and backup of all the Customer data, including but not limited to; bitcoin (crypto-currency).
E. Maintenance Windows. Bitbuy reserves the right to conduct an emergency maintenance window at any time. During an emergency maintenance window, any or all Bitbuy Services may be unavailable.
A. Confidential Information Defined. "Confidential Information" means any information disclosed by Bitbuy to the Customer, either directly or indirectly, in writing, orally, or by inspection of tangible objects (including, without limitation, documents, prototypes, samples, plans, and equipment), which is designated as "Confidential," "Proprietary," or some other similar designation either (a) in writing, (b) orally, or (c) by any other means. Confidential Information will not include any information which: (i) is publicly known and made generally available through no fault or breach on the part of the Customer or any third party; (ii) is obtained by the Customer from a third party without a breach of such third party's obligations of confidentiality; (iii) is independently developed by the Customer without use of or reference to the Confidential Information; or (iv) is required by law to be disclosed by the Customer, provided that the Customer gives Bitbuy prompt written notice of such requirement prior to such disclosure, and assistance in obtaining an order protecting the information from public disclosure.
B. Disclosure of Confidential Information. The Customer must not use, disclose, publish or disseminate any of Bitbuy Confidential Information to anyone other than those of the Customer's employees or contractors (if any) on a need-to-know basis, and the Customer agrees to take all reasonable precautions to protect the secrecy of and to prevent any unauthorized use, disclosure, publication, or dissemination of the Confidential Information. Without limiting the scope of the foregoing, the Customer will take measures to protect the Customer's own most highly confidential information and will ensure that any of the Customer's employees, consultants, or other third parties who have access to Bitbuy Confidential Information have signed a non-use and non-disclosure agreement in content at least as restrictive as the provisions hereof, prior to any disclosure of the Confidential Information to such employees, consultants, or other third parties. The Customer further agrees not to use the Confidential Information otherwise for the Customer's own, or any third party, benefit without the prior written approval of an authorized representative of Bitbuy in each instance. The Customer will not make any copies of Bitbuy Confidential Information unless the same are previously approved by Bitbuy in writing. The Customer will reproduce Bitbuy proprietary rights notices on any such approved copies, in the same manner in which such notices were set forth in or on the original. The Customer will not commit or permit the reverse engineering, reverse assembling, disassembling, reverse compiling, or decompiling, or any attempt to derive source code from, any prototypes, hardware, software or any other tangible objects which embody Bitbuy Confidential Information.
C. Trademark & Copyright: All Bitbuy trademarks and logos contained in any and all materials and information are the property of Bitbuy. Use of such trademarks, logos, or copyrighted materials are strictly prohibited without the prior permission for use from the rightful owners.
3. USE OF BITBUY.CA SERVICES
A. Customer's Account. Only the Customer may use the Customer's Account with lawful identity verification through the BitBuy.ca. The Customer may not sell, lease, rent, or assign, in any way, any part or whole of the Customer's Account and/or Bitbuy Services to any party, unless the Customer obtains Bitbuy prior written consent or the Customer has entered into a valid Agreement with Bitbuy.
B. Bitbuy Right of Refusal & Termination. Bitbuy may, at its sole discretion, refuse Bitbuy Services to any Customer, whether new or existing, and/or terminate the supply of Bitbuy Services to the Customer, without any prior notice, if Bitbuy deems the Customer to be in violation of the Terms and Conditions, notwithstanding that the Customer may be in breach of any other agreement by complying with the Terms and Conditions.
C. Customer's Lawful Use. The Customer agrees to use the Bitbuy Services as permitted by applicable laws, including, without limitation, local, provincial, state, and federal laws. The Customer agrees that the Customer may NOT use Bitbuy Services to conduct or solicit any business or activity that is prohibited by law, libelous, or against any Bitbuy policy.
Further, prohibited activities include the following.
(a) investment opportunities or other services that promise high rewards,
(b) the sale or resale of a service without added benefit to the buyer,
(c) the resale of government offerings without authorization or added value, or
(d) any customer that we determine in our sole discretion to be unfair, deceptive, or predatory towards consumers.
(a) check cashing,
(b) bail bonds,
(c) collections agencies, or
(d) unregulated token offerings such as Initial Coin Offerings (ICO), Initial Exchange Offerings (IEO), etc.
(a) securities brokers,
(b) mortgage consulting or debt reduction services,
(c) credit counseling or repair, or
(d) real estate opportunities or investment schemes.
D. Customer's Warranty, Liability, & Indemnification. The Customer is solely responsible for any legal liability arising out of, or relating to, the Customer's use of Bitbuy Services. The Customer represents and warrants to Bitbuy that the Customer holds the necessary rights to use, or permit to use, any item used through any Bitbuy Service, and that the use, reproduction, distribution, transmission, or display of any data to the public, and any material to which the public can link or access, or any aspect of Bitbuy Services made available to the public through the Customer, will NOT:
I. violate or potentially violate any right of any third party, including, without limitation, infringement or misappropriation of any copyright, patent, trademark, trade secret, music, image, or other proprietary right;
II. constitute or potentially constitute violations such as, without limitation, false advertisement, unfair competition, defamation, invasion of privacy, invasion of rights, and discrimination;
III. cause or potentially cause a business dispute or a personal dispute;
IV. contain any material that encourages conduct that would constitute a criminal offense, give rise to civil liability, or otherwise violate any applicable law, including, without limitation, local, provincial, state, national, international, or any other laws.
The Customer agrees to indemnify and hold Bitbuy, any third party entity related to Bitbuy (including, without limitation, third party vendors), and Bitbuy executives, directors, officers, managers, employees, consultants, agents, parent companies, and subsidiaries harmless from and against any and all liabilities, losses, costs, judgments, damages, claims, or causes of action, including, without limitation, any and all legal fees and expenses arising out of or relating to the Customer's breach of any of the representations or warranties herein, or any other third party claim with respect thereto.
E. Other Organizations' Permission & Policies. The Customer's use of networks, computing resources, or other services from other organizations is also subject to those organizations' respective permission and usage policies.
F. Customer's Prevention of Corruption. The Customer must actively endeavor to prevent any corruption of Bitbuy systems, including, without limitation, viruses, malware, and ransomware. Bitbuy reserves the right to run countermeasure programs, at Bitbuy sole discretion, to minimize potential and actual damages.
G. Other Prohibited Conduct. The Customer must not commit or permit any reverse engineering, reverse assembling, disassembling, reverse compiling, or decompiling, or any attempt to derive source code from, any prototypes, hardware, software, or other tangible objects provided to the Customer by Bitbuy.
H. Third Party Services or Products. The Customer acknowledges and agrees that any recommendation made by Bitbuy employees for services or products ancillary to Bitbuy Services are the recommendations of that employee only and not of Bitbuy. Bitbuy does not warrant the integrity or quality of the services or products provided by such third parties. The Customer agrees to hold Bitbuy, any third party entity related to Bitbuy (including, without limitation, third party vendors), and Bitbuy executives, directors, officers, managers, employees, consultants, contractors, agents, parent companies, and subsidiaries harmless from and against any and all liabilities, losses, costs, judgments, damages, claims, or causes of action, including, without limitation, any and all legal fees and expenses arising out of or related to the Customer's reliance on any recommendation made by a Bitbuy employee regarding services or products ancillary to Bitbuy Services.
I. Hard Fork policy.
The Customer agrees that BitBuy.ca will not hold digital-currency assets that result from Hard Forks (“Forked Assets”) on behalf of its Customer. A Hard Fork means “a permanent divergence in the block chain, commonly occurring when non-upgraded nodes can't validated blocks created by upgraded nodes that follow newer consensus rules.” Examples of Forked Assets include Bitcoin Cash, Bitcoin Gold, and Bitcoin Private. If a Customer wants to claim a digital-currency asset that may be subject to a Hard Fork, BitBuy.ca recommends the Customer withdraw from the BitBuy.ca platform the relevant digital-currency assets before the Hard Fork is implemented.
The Customer further agrees that BitBuy.ca has no obligation to provide Customers with notices or alerts regarding upcoming Hard Forks.
The Customer agrees to protect, defend, hold harmless, and indemnify Bitbuy, any third party entity related to Bitbuy (including, without limitation, third party vendors), and Bitbuy executives, directors, officers, managers, employees, consultants, agents, parent companies, and subsidiaries from and against any and all liabilities, losses, costs, judgments, damages, claims, or causes of actions, including, without limitation, any and all legal fees and expenses arising out of or resulting from Customer's use of Bitbuy Services.
5. LIMITATION OF LIABILITY
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT, AND UNDER NO THEORY OF LAW OR EQUITY, WILL BITBUY.CA OR BITBUY.CA EXECUTIVES, DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, CONSULTANTS, CONTRACTORS, AGENTS, PARENT COMPANIES, SUBSIDIARIES, AFFILIATES, THIRD-PARTY PROVIDERS, MERCHANTS, LICENSORS, OR THE LIKE, OR ANYONE ELSE INVOLVED IN CREATING, PRODUCING, OR DISTRIBUTING Bitbuy SERVICES BE LIABLE FOR ANY BUSINESS OR PERSONAL LOSS, REVENUE DECREASE, EXPENSE INCREASE, COST OF SUBSTITUTE PRODUCTS AND/OR BITBUY.CA SERVICES, OR ANY OTHER LOSS OR DAMAGE WHATSOEVER, OR FOR ANY CONSEQUENTIAL, SPECIAL, INCIDENTAL, PUNITIVE OR INDIRECT DAMAGES OF ANY KIND ARISING OUT OF ANY USE OF, OR ANY INABILITY TO USE, ANY BITBUY.CA SERVICES EVEN IF BITBUY.CA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. BITBUY.CA TOTAL CUMULATIVE LIABILITY, IF ANY, TO THE CUSTOMER, OR ANY THIRD PARTY, FOR ANY AND ALL DAMAGES, RELATED TO THE TERMS AND CONDITIONS, AND THE USE OF THE WEBSITE, INCLUDING, WITHOUT LIMITATION, NEGLIGENCE, ANY ACT OR OMISSION BY BITBUY.CA OR BITBUY.CA REPRESENTATIVES, OR UNDER ANY OTHER THEORY OF LAW OR EQUITY, WILL BE LIMITED TO, AND WILL NOT EXCEED, THE FEE OR PAID BY THE CUSTOMER FOR BITBUY.CA SERVICES.
A. Changes, Modifications, & Backup of Data. THE CUSTOMER AGREES THAT BITBUY.CA MAY DISCONTINUE, UPGRADE, REPLACE, MODIFY, OR CHANGE IN ANY WAY, WITHOUT LIMITATION, ANY SOFTWARE, APPLICATION, PROGRAM, DATA, HARDWARE, EQUIPMENT, OR PORTIONS OR COMPONENTS THEREOF, USED TO PROVIDE THE CUSTOMER WITH BITBUY.CA SERVICES. BITBUY.CA MAKES NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING THE PERFORMANCE, CONDITION, OR EXISTENCE OF ANY OF BITBUY.CA APPLICATIONS AND CONTENT.
B. Systems Information. THE CUSTOMER ACKNOWLEDGES THAT BITBUY.CA MAKES A REASONABLE EFFORT TO KEEP THE INFORMATION AVAILABLE ON BITBUY.CA SYSTEMS ACCURATE. HOWEVER, BITBUY.CA MAKES NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING THE QUALITY, ACCURACY, OR VALIDITY OF THE DATA AND/OR INFORMATION AVAILABLE. USE OF INFORMATION OBTAINED FROM OR THROUGH BITBUY.CA IS AT THE SOLE RISK OF CUSTOMER.
C. Interconnecting Networks Information. THE CUSTOMER ACKNOWLEDGES THAT THE DATA AND/OR INFORMATION AVAILABLE THROUGH THE INTERCONNECTING NETWORKS MAY NOT BE ACCURATE, AND THAT BITBUY.CA HAS NO ABILITY OR AUTHORITY OVER THE DATA AND/OR INFORMATION. BITBUY.CA MAKES NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING THE QUALITY, ACCURACY, OR VALIDITY OF THE DATA AND/OR INFORMATION RESIDING ON OR PASSING THROUGH THE INTERCONNECTING NETWORKS. USE OF DATA AND/OR INFORMATION OBTAINED FROM OR THROUGH BITBUY.CA SERVICES IS AT THE SOLE RISK OF THE CUSTOMER.
D. Third Party Licenses. THE CUSTOMER UNDERSTANDS, AGREES, AND ACKNOWLEDGES THAT BITBUY.CA MAKES A REASONABLE EFFORT TO PROVIDE THE CUSTOMER WITH TECHNOLOGIES, DEVELOPMENTS, AND INNOVATIONS (COLLECTIVELY "TECHNOLOGIES"), PART OF WHICH ARE BEING LICENSED OR CO-BRANDED FROM OR BY THIRD PARTY ENTITIES. HOWEVER, BITBUY.CA MAKES NO WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, REGARDING THE QUALITY, ACCURACY, RELIABILITY, VALIDITY, OR CONTINUED EXISTENCE OF ANY AND ALL ASPECTS OF SUCH TECHNOLOGIES. MOREOVER, BITBUY.CA SPECIFICALLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE FOR SUCH TECHNOLOGIES. FURTHERMORE, THE CUSTOMER WILL NOT HOLD BITBUY.CA, ANY THIRD PARTY ENTITY RELATED TO BITBUY.CA (INCLUDING, WITHOUT LIMITATION, THIRD PARTY VENDORS), OR BITBUY.CA EXECUTIVES, DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, CONSULTANTS, AGENTS, PARENT COMPANIES, AND SUBSIDIARIES LIABLE IN ANY WAY FOR THE REVOCATION OF ANY LICENSE, WHICH HAS BEEN LICENSED TO BITBUY.CA FROM OR BY THIRD PARTIES, THAT RESULTS IN ANY ACTUAL OR POTENTIAL HARM, DAMAGE, COST, EXPENSE, OR OTHERWISE TO THE CUSTOMER, THE CUSTOMER'S BUSINESS, THE CUSTOMER'S AFFILIATES, THE CUSTOMER'S CUSTOMERS, OR ANYONE OR ANYTHING RELATED TO THE CUSTOMER. THE USE OF THE TECHNOLOGIES OBTAINED FROM OR THROUGH BITBUY.CA, OR ANY OTHER REFERRED THIRD PARTY, WHETHER DIRECTLY OR INDIRECTLY, IS AT THE SOLE RISK OF THE CUSTOMER.
E. Non- Bitbuy Products. THE CUSTOMER ACKNOWLEDGES THAT ANY MENTION OF NON- BITBUY.CA PRODUCTS OR SERVICES BY BITBUY.CA, ANY THIRD-PARTY ENTITY RELATED TO BITBUY.CA (INCLUDING, WITHOUT LIMITATION, THIRD PARTY VENDORS), OR BITBUY.CA EXECUTIVES, DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, CONSULTANTS, AGENTS, PARENT COMPANIES, AND/OR SUBSIDIARIES, IS FOR INFORMATION PURPOSES ONLY, AND DOES NOT CONSTITUTE AN ENDORSEMENT OR RECOMMENDATION BY BITBUY.CA OR THE INDIVIDUALS AND ENTITIES LISTED IN THIS SECTION. BITBUY.CA DISCLAIMS ANY AND ALL LIABILITIES FOR ANY REPRESENTATION OR WARRANTY MADE BY THE VENDORS OF SUCH NON- BITBUY.CA PRODUCTS AND/OR BITBUY.CA SERVICES.
F. Website. THE SERVICES, INFORMATION, AND DATA (COLLECTIVELY THE "INFORMATION") MADE AVAILABLE ON THE BITBUY.CA WEBSITE ARE PROVIDED "AS IS," WITHOUT WARRANTIES OF ANY KIND. BITBUY.CA EXPRESSLY DISCLAIMS ANY REPRESENTATION AND WARRANTY, INCLUDING, WITHOUT LIMITATION, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. BITBUY.CA WILL HAVE ABSOLUTELY NO LIABILITY IN CONNECTION WITH THE SERVICES, INCLUDING, WITHOUT LIMITATION, ANY LIABILITY FOR DAMAGE TO THE WEBSITE USER'S COMPUTER, ANY HARDWARE, DATA, INFORMATION, MATERIALS, AND BUSINESS RESULTING FROM THE INFORMATION, OR THE LACK OF INFORMATION, AVAILABLE ON THE WEBSITE. BITBUY.CA WILL HAVE NO LIABILITY FOR:
I. ANY AND ALL LOSSES OR INJURIES CAUSED, IN WHOLE OR IN PART, BY BITBUY.CA ACTIONS, OMISSIONS, OR NEGLIGENCE, OR FOR CONTINGENCIES BEYOND BITBUY.CA CONTROL IN PROCURING, COMPILING, OR DELIVERING THE INFORMATION, PRODUCTS, AND/OR SERVICES ;
II. ANY AND ALL ERRORS, OMISSIONS, OR INACCURACIES IN THE INFORMATION REGARDLESS OF HOW CAUSED, OR DELAYS OR INTERRUPTIONS IN DELIVERY OF THE INFORMATION; OR
III. ANY DECISION MADE, OR ACTION TAKEN OR NOT TAKEN, IN RELIANCE UPON THE INFORMATION FURNISHED ON THE WEBSITE.
BITBUY.CA MAKES NO WARRANTY, REPRESENTATION, OR GUARANTEE AS TO THE CONTENT, SEQUENCE, ACCURACY, TIMELINESS, OR COMPLETENESS OF THE INFORMATION ON THE BITBUY.CA WEBSITE, OR THAT THE INFORMATION IS RELIABLE FOR ANY REASON. BITBUY.CA MAKES NO WARRANTY, REPRESENTATION, OR GUARANTY THAT THE INFORMATION WILL BE UNINTERRUPTED OR ERROR FREE OR THAT ANY DEFECTS CAN BE CORRECTED. FOR THE PURPOSES OF THIS SECTION, " BITBUY.CA " INCLUDES, WITHOUT LIMITATION, BITBUY.CA DIVISIONS, SUBSIDIARIES, SUCCESSORS, PARENT COMPANIES, AND THEIR (INCLUDING BITBUY.CA) EXECUTIVES, DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, CONSULTANTS, CONTRACTORS, AGENTS, AFFILIATES, THIRD-PARTY PROVIDERS, MERCHANTS, LICENSORS OR THE LIKE.
7. PAYMENT, PENALTIES, & APPLICABLE TAXES
A. Payment Due. The Customer must ensure that Bitbuy receives full payment for Bitbuy Services at the time of purchase. The Customer is solely responsible for ensuring that his/her debit card is valid and contains funds in the debit card holder's bank account to ensure Bitbuy receives payment. Bitbuy will not provide the Customer with Bitbuy Services until Bitbuy receives full payment.
B. Methods of Payment. Methods of payment accepted by Bitbuy are those that are domestic only in the form of debit, wire transfer, EFT, Prepaid Vouchers, e-Transfers, or any other cash-like methods. NOTE: Credit Cards may be accepted by on a restricted use basis, and International wires are not accepted at this time.
C. Applicable Taxes. Customer must pay to Bitbuy, all applicable taxes, including, without limitation, any [interest and penalties thereon, and any] tax on past fees or charges (whether such fees or charges are already paid or not) in cases where Bitbuy is under a legal obligation to collect such tax from the Customer. The Customer is solely responsible for any and all other taxes, which the Customer is under a legal obligation to pay.
D. Refunds. The Customer agrees all transactions are irreversible; there are no refunds, no exchanges, and no chargebacks. The Customer agrees that if, for any reason the debit card purchase is reversed, The Customer must return products or services prior to the refund being issued. If the market rate in Canadian dollars for item purchased is lower than the Customers purchase date, the Customer agrees to match the current Canadian dollar value at the time of refund. Bitbuy reserves the right and may pursue legal action if the Customer attempts to refund his/her purchase without first returning Bitbuy products or services purchased.
E. Exchange Rates: The Customer agrees that best efforts are made to obtain the most accurate and timely exchange rates from third-party providers. We do not guarantee the accuracy, timeliness, reliability or completeness of these services from third party providers. The Customer acknowledges and agrees that any reliance on or use of the exchange rates shall be entirely at the Customers own risk. In no event shall we, nor any of our third-party providers be liable for any direct, indirect, consequential or exemplary damages arising from the use or the performance of the exchange rates provided at BitBuy.ca website.
8. CUSTOMER'S ABUSE & BREACH
A. Abuse Defined. Any "abuse" of Bitbuy Services is a breach of the Terms and Conditions. Abuse includes, without limitation, the Customer's use of Bitbuy Services that disrupts the normal use of Bitbuy Services for other Bitbuy the customers. Determination of what constitutes an abuse of Bitbuy Services will be at the sole discretion of Bitbuy. Some examples of abuse of Bitbuy Services include, without limitation, website modification, SQL injection, DDOS attacks, spamming or mass e-mailing. Without limiting the scope of the foregoing, Bitbuy forbids the storage or use of any type of software intended for hacking or cracking purposes.
B. Disciplinary Measures. Depending on the nature and the severity, the Customer's abuse of Bitbuy Services is cause for Bitbuy to implement, at Bitbuy sole discretion, disciplinary measures, including, without limitation, warning, suspension, or termination of the Customer's Account and all provision of Bitbuy Services to the Customer. If the Customer has been suspended, and Bitbuy chooses to rescind the suspension, Bitbuy may, at its sole discretion, charge the Customer a reconnection charge before Bitbuy will provide any further Bitbuy Services to the Customer.
C. Misclassification. The Customer acknowledges that the Customer's activity may be misclassified as abuse. A Customer who believes that the Customer's activity has been misclassified may appeal to Bitbuy Support. Determination of whether or not the Customer's activity is abuse is at Bitbuy sole discretion.
D. Right to Terminate. IF BITBUY.CA DEEMS THE CUSTOMER TO BE INVOLVED, IN ANY WAY, IN UNLAWFUL ACTIVITIES, BITBUY.CA RESERVES THE RIGHT TO IMMEDIATELY TERMINATE BITBUY.CA SERVICES TO THE CUSTOMER.
E. Breach of the Terms and Conditions. Unethical activities and criminal offenses are breaches of the Terms and Conditions. The Customer agrees to report to Bitbuy any breach of the Terms and Conditions by either the Customer or any other Bitbuy customer. If the Customer is unsure of whether or not a particular activity is unethical or criminal, the Customer must notify Bitbuy and Bitbuy will make such determination and appropriate action, if necessary.
F. Civil &/or Legal Liability for Breach. ANY BREACH OF THE TERMS AND CONDITIONS MAY RESULT IN CIVIL ACTION AND/OR LEGAL ACTION AND/OR CRIMINAL PROSECUTION.
9. IP ADDRESSES, SMS, EMAIL, LOGGING AND ENFORCEMENT
Bitbuy maintains control and logs all IP numbers and IP addresses that may be assigned to the Customer, and Bitbuy reserves the right to remove or restrict, at Bitbuy sole discretion, any and all IP numbers and addresses. Bitbuy also maintains logs for email, telephone, and SMS verification associated with each transaction ID. The customers information and banking information is NOT provided to Bitbuy. Bitbuy logs ensure financial transparency in the event of maleficence.
10. INTELLECTUAL PROPERTY
A. IP Prohibition. The Customer must not, without Bitbuy express written consent, copy, reproduce, or republish any material, in whole or in part, that is located on the website, including, without limitation, Bitbuy sales and marketing materials.
B. Trademark & Copyright Prohibition. The Customer must not, without Bitbuy express written consent, use any Bitbuy trademark, service mark, or copyrighted material.
C. Misrepresentation. The Customer must not, in any way, misrepresent the Customer's relationship with Bitbuy, attempt to pass itself off as Bitbuy, or claim that the Customer is Bitbuy.
11. CUSTOMER'S PRIVACY
Bitbuy takes reasonable measures to protect the Customer's privacy. Except under urgent or emergency circumstances, and/or as required by regulation, court order, official authority, police or other law enforcement authority, or any applicable law. The Customer's information or data collected will be used by Bitbuy for purposes related to Bitbuy Services including, without limitation, extending special offers to the Customer, and referral and/or agency commissions (including, without limitation, improvements). The Customer understands, acknowledges, and agrees that the Customer's administrative contact information in relation to the Customer's domain name registration is public information and Bitbuy is not, and cannot, be obligated to safeguard such information and data from any third party.
12. ASSIGNMENT AND AGENTS
A. Assignment. The rights and liabilities of both the Customer and Bitbuy (collectively "the Parties") under the Terms and Conditions will bind and inure to the benefit of the Parties' respective successors, executors, and administrators, as the case may be. However, the Customer may not assign or delegate the Customer's rights and obligations under any of the Customer's business relationships (including, without limitation, any contract, agreement, or business arrangement) with Bitbuy, either in whole or in part, without the prior written consent of Bitbuy. Bitbuy may assign its rights and obligations under the Terms and Conditions to any third party in connection with a merger, acquisition, sale of all or substantially all of Bitbuy assets, or any other corporate reorganization.
B. Bound as Principal. The Customer agrees that the Customer will be bound as a principal to the Terms and Conditions even if any contract, agreement, or business arrangement, including, without limitation, an application for domain name registration or web hosting, is executed by an agent for the Customer.
13. MINIMUM AGE REQUIREMENT
A. Customer's Warranty. The Customer warrants that the Customer is at least 18 years of age.
B. Parent or Guardian. Any individual under the age of 18 years ("Minor") must have a parent or guardian accept the Terms and Conditions in order for the Minor to become a Bitbuy customer.
C. Parent or Guardian Primarily Liable. A parent or guardian who accepts the Terms and Conditions on behalf of a Minor will be primarily liable for ensuring complete and proper compliance with the Terms and Conditions, including, without limitation, the timely and full payment of the charges for Bitbuy Services.
D. Continuation of Parent or Guardian's Liability. A parent or guardian who accepts the Terms and Conditions on behalf of a Minor will continue to be primarily liable for the obligations mentioned in the Terms and Conditions even when the Minor has attained the age of 18, unless Bitbuy provides to such parent or guardian Bitbuy express written consent to the contrary.
E. Invalid Acceptance (Null & Void). ANY ACCEPTANCE OF THE TERMS AND CONDITIONS BY AN INDIVIDUAL UNDER THE AGE OF 18 WITHOUT PARENTAL CONSENT WILL BE DEEMED INVALID AND THE TERMS AND CONDITIONS WILL BE DEEMED NULL AND VOID AS BETWEEN BITBUY.CA AND THAT PARTICULAR INDIVIDUAL.
14. GOVERNING LAW/SEVERABILITY
Any agreement, including, without limitation, the Terms and Conditions, arising from the business relationship between Bitbuy and the Customer, will be governed by and construed in accordance with the laws of the Province of Ontario, Canada, without reference to its conflicts of laws principles. The Customer agrees that any litigation or arbitration between the Customer and Bitbuy will take place in Ontario, Canada, and the Customer consents to personal jurisdiction and venue in Ontario, Canada. If any provision or portion of the agreement is found by a court of competent jurisdiction to be unenforceable for any reason, the remainder of that agreement will continue in full force and effect.
Any waiver, modification, or amendment of any provision of the Terms and Conditions, initiated by the Customer, will be effective only if accepted in writing and signed by Bitbuy.
16. INDEPENDENT CONTRACTORS
Nothing in this Agreement will be construed as creating a partnership or relationship of employer and employee, principal and agent, partnership or joint venture between the Parties. Each Party will be deemed an independent contractor at all times and will have no right or authority to assume or create any obligation on behalf of the other Party, except as may be expressly provided herein.
17. COMPLETE AGREEMENT
The Terms and Conditions, in addition to any other specific agreement (if any) between Bitbuy and the Customer, constitutes the complete understanding and agreement between the Customer and Bitbuy. Except when expressly agreed to the contrary in writing by Bitbuy, the Terms and Conditions supersedes any other written (including, without limitation, digitized/computerized) agreement, oral agreement, and/or agreement by conduct.
WITHOUT LIMITATION, CLICKING THE “CONTINUE”, “CHECKOUT”, AND/OR “SUBMIT” BUTTON IN THE ORDER FORM ON THE BITBUY.CA WEBSITE) OF THE CUSTOMER'S ORDER WILL CONSTITUTE THE CUSTOMER'S ACCEPTANCE OF THESE TERMS AND CONDITIONS.
This agreement (“Terms and Conditions”), in addition to any other specific agreement between Bitbuy Inc. (“Bitbuy”) and the customer (“the Customer”), represents the complete understanding and agreement between Bitbuy and Customer. This Terms and Conditions agreement supersedes any other written agreement including, without limitation, digitized, computerized, oral agreement, and/or agreement by conduct, except when expressly agreed to the contrary in writing by Bitbuy.
Upon notice published on Bitbuy website, Bitbuy may change or discontinue any provision of this Terms and Conditions agreement from time to time, including, without limitation, all services provided by Bitbuy, pricing, services, and products. Any such change or discontinue of any provision will legally bind the Customer from the time Bitbuy publishes notice of the change on the Bitbuy website. It is the Customer's sole responsibility to ensure that the Customer is up to date on the most current version of the Terms and Conditions agreement.
18. TRULIOO IDENTITY VERIFICATION
You consent to the fact that we have engaged Trulioo Inc. ("Trulioo") to provide electronic verification of your identity for KYC/AML regulatory compliance. To verify your identity, your personal information will be compared, matched, and maintained with the information contained in your Credit File Report and other third-party sources, including telecom and other service providers. You also consent to those third parties providing personal information to us and our third-party suppliers for the purpose of identity verification and regulatory record-keeping requirements . By accepting the terms and conditions on our website for collecting your information, you confirm your consent to us, Trulioo, and the third parties for collecting, using, disclosing, and storing your personal information for the purpose of this verification. Your credit score will not be affected or visible to other financial institutions as this is a soft check.
19. RISKS INVOLVED
The following is a list of the various risks in the buying, selling and holding of digital currencies.
20. DIGITAL CURRENCY PAIRINGS
The following are pairings provided by the Bitbuy transaction platform:
21. ORDER TYPES
A market order is a buy or sell order to be executed immediately at current market prices. So long as there are willing sellers and buyers, market orders are filled. Market orders are used when certainty of execution is a priority over the price of execution. A market order is the simplest of all order types. It is important for users to remember that the last-traded price is not necessarily the price at which a market order will be executed. In fast-moving markets, the price at which a market order will execute often deviates from the last-traded price or “real-time” quote.
As orders come in, they are filled at these best prices. If an order with a better bid price comes in, it goes to the top of the list.
When a market order is received, it gets the highest or lowest price available. In other words, when you submit a market order to buy a digital currency, you pay the highest price on the market. If you submit a market sell order, you receive the lowest price on the market.
This is a questionable practice, but beware that you may pay a small premium, which is the market maker's extra profit if you use market orders to buy and sell digital currencies.
You can calculate slippage as the difference in the bid-ask spread from the time you enter an order to the time it gets filled. Another form of slippage involves the market maker making a change in price to take advantage of an upcoming market order.
When should you consider using market orders?
When does a market buy or sell order make sense? If you are caught in an unfavorable position and the market is moving against you, it may be time to exit the position in a hurry by using a market order and not worrying about slippage.
Most buyers and sellers of digital currencies are very concerned with controlling entry and exit prices; however, as noted above, there will be times when buying or selling the digital currency takes precedence over the price. It becomes dangerous when you convince yourself that you must own a digital currency at any cost and use market orders.
Owing to high-speed innovations, small market orders can accelerate into the market without much warning and be filled. Most investors won't be concerned with a few cents' loss to slippage, but you must be careful or it can be much worse than pocket change.
How do I place a Market Order?
When you place a market buy order, you're saying that you want to buy the digital currency regardless of price. If you were giving a verbal order to a Bitbuy agent, it might go something like this:
Buy 200 units of ETH at the market price.
You would use the same process to sell a digital currency at the market price: Sell 200 units of ETH at market.
When you use the Bitbuy platform, you'll see the order entered on the order screen. If the digital currency is actively traded, a market order will be filled almost instantly unless there is an unusually high volume in a particular digital currency. However, in a fast-moving market even almost instantly isn't fast enough to ensure the price at which you placed your order is the exact price you receive.
In most cases, you will get close to the buy or sell price you saw when you entered the market order. However, if the particular digital currency has high activity, you may get much less or pay much more.
If other market orders are in front of yours (i.e., they were entered before yours), you run the risk of the digital currencies price changing dramatically.
Even in normal market conditions, when you enter a market order to buy, you will pay the highest price out of all the existing sell orders, and a market order to sell means you will get the lowest price from the existing buy orders.
For a digital currency that trades in a narrow range, a market order may not penalize you much. However, when the digital currency is generating a lot of activity, you may find a market order becomes a buy high, sell low strategy. Reserve use of market orders for trades that need to happen quickly, with less priority given to price.
A limit order is an order to buy or sell a digital currency at a specified price or better. When you place a limit order, you don't want the market price (the current price of a digital currency), but that you want your order to be executed when the digital currency price moves in a certain direction. A buy limit order (a limit order to buy) can only be executed at the limit price or lower (i.e., better). A sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.
What is the difference between a market order and a limit order?
Market orders can be accepted and executed at anytime there is trading and/or liquidity in the digital currency to be bought or sold or when trading in a certain digital currency is halted or suspended. Market orders are filled at a price dictated by the market. A market order is a transaction to be executed as quickly as possible at the existing/market price. A market order to buy is filled at the ask price, and a market order to sell is filled at the bid price. It's possible for parts of the order to execute at different prices. For example, half of the order could be executed at the best offer price, and the balance could fill at a higher price.
Limit orders allow you to set a maximum purchase price for your buy order, or a minimum sale price for your sell orders. If the market doesn't reach your limit price, your order will not be executed.
22. RISKS INVOLVED
Prospective users of the Bitbuy digital currency platform who buy, sell, and hold digital currency should carefully consider and evaluate all risks and uncertainties associated with the Company and its business and operations.
Potential risks include, but are not limited to:
There is no guarantee of liquidity or market price of any digital currency at any extent at any time.
At any given time in transacting, there may be limited or no liquidity in the ability to buy and/or sell digital currencies to effectuate transactions. The Company bears no responsibility for this lack of liquidity in any of its functional digital currencies traded on its platform. Liquidity refers to the extent to which a market allows assets to be bought and sold at stable prices. Lower liquidity tends to result in a more volatile market (especially when large orders are placed), and it causes prices to change more drastically; whereas higher liquidity creates a less volatile market, and prices do not fluctuate as significantly.
The Company cannot ensure that there will be any demand or market for any digital currencies allowed to be traded on its platform.
Regulation of digital currency platforms worldwide, and/or regulation of digital currencies worldwide, may materially and adversely affect the market perception or market price of any of the digital currencies bought or sold on the Bitbuy platform, whether it is justified.
As its business evolves, Bitbuy must also expand and adapt its operational infrastructure. Bitbuy business relies on its blockchain-based software systems, digital currency wallets or other related token storage mechanisms, blockchain technology and smart contract technology. All these systems, tools, and skillsets represent complex, costly, and rapidly changing technical infrastructure. In order to demonstrate continued ability to effectively manage technical support infrastructure for the Bitbuy PLATFORM, Bitbuy will need to continue to upgrade and improve its data systems and other operational systems, procedures and controls. These upgrades and improvements will require a dedication of resources, are likely to be complex and increasingly rely on hosted computer services from third parties that Bitbuy does not control. If Bitbuy is unable to adapt its systems and organization in a timely, efficient and cost-effective manner to accommodate changing circumstances, its business, financial condition and results of operations may be adversely affected.
If the third parties whom Bitbuy relies on are subject to a security breach or otherwise suffer disruptions that impact the services Bitbuy uses, the integrity and availability of its internal information could be compromised, which may consequently cause the loss of confidential or proprietary information, and economic loss. The loss of financial, labor or other resources, and any other adverse effect on Bitbuy’s business, financial condition and operations, would have a direct adverse effect on Bitbuy’s ability to maintain the BITBUY TRANSACTION PLATFORM and/or to structure and license the anticipated BITBUY TRANSACTION PLATFORM future business lines.
Bitbuy may experience system failures, unplanned interruptions in its network or services, hardware or software defects, security breaches or other causes that could adversely affect Bitbuy’s infrastructure network, and/or the BITBUY TRANSACTION PLATFORM.
Bitbuy is not able to anticipate when there would be occurrences of hacks, cyberattacks, distributed denials of service or errors, vulnerabilities or defects in the BITBUY PLATFORM, the smart contracts on which the Company, Bitbuy., or the BITBUY PLATFORM relies on any blockchain, and or any side-chains. Such events may include, for example, flaws in programming or source code leading to exploitation or abuse thereof. Bitbuy may not be able to detect such hacks, cyber-attacks, distributed denials of service errors vulnerabilities or defects in a timely manner and may not have sufficient resources to efficiently cope with multiple service incidents happening simultaneously or in rapid succession.
Bitbuy’s network or services, which would include the BITBUY PLATFORM and, if successfully structured, licensed, and launched, the BITBUY PLATFORM future business lines, could be disrupted by numerous events, including natural disasters, equipment breakdown, network connectivity downtime, power losses, or even intentional disruptions of its services, such as disruptions caused by software viruses or attacks by unauthorized users, some of which are beyond Bitbuy’s control.
Bitbuy has taken steps against malicious attacks on its appliances or its infrastructure, which are critical for the maintenance of the BITBUY PLATFORM, there can be no assurance that cyber-attacks, such as distributed denials of service, will not be attempted in the future, that Bitbuy’s enhanced security measures will be effective.
Bitbuy may be prone to attacks on its infrastructure intended to steal information about its technology, financial data or user information or take other actions that would be damaging to Bitbuy and/or holders of any and all digital currencies. Any significant breach of Bitbuy security measures or other disruptions resulting in a compromise of the usability, stability and security of the BITBUY PLATFORM may adversely affect the ability of users to buy and sell cryptocurrencies.
Bitbuy is dependent in part on the location and data centre facilities of third parties. Bitbuy’s current infrastructure network is in part established through servers which it owns and houses at the location facilities of third parties, and on servers that it rents at data center facilities of third parties. If Bitbuy is unable to renew its data facility lease on commercially reasonable terms or at all, Bitbuy may be required to transfer its servers to a new data center facility and may incur significant costs and possible service interruption in connection with the relocation. These facilities are also vulnerable to damage or interruption from, among others, natural disasters, arson, terrorist attacks, power losses, and telecommunication failures. Additionally, the third-party providers of such facilities may suffer a breach of security as a result of third-party action, employee error, malfeasance or otherwise, and a third party may obtain unauthorized access to the data in such servers. As techniques used to obtain unauthorized access to, or to sabotage systems change frequently and generally are not recognized until launched against a target, Bitbuy and the providers of such facilities may be unable to anticipate these techniques or to implement adequate preventive measures. Any such security breaches or damages which occur which impact upon Bitbuy’s infrastructure network and/or the BITBUY PLATFORM may adversely impact the ability to buy and sell cryptocurrencies.
General global market and economic conditions may have an adverse impact on Bitbuy transaction platform’s operating performance. General weaknesses in the economy may have a negative effect on Bitbuy’s business, operations and financial condition, including decreases in revenue and operating cash flows, and inability to attract future equity and/or debt financing on commercially reasonable terms. Additionally, in a down-cycle economic environment, Bitbuy may experience the negative effects of a slowdown in trading and usage of the BITBUY PLATFORM and may delay or cancel the structuring, licensing, and launch of the anticipated BITBUY PLATFORM future business lines.
Suppliers on which Bitbuy relies for servers, bandwidth, location and other services could also be negatively impacted by economic conditions that, in turn, could have a negative impact on Bitbuy operations or expenses. There can be no assurance, therefore, that current economic conditions or worsening economic conditions or a prolonged or recurring recession will not have a significant adverse impact on Bitbuy’s business, financial condition and results of operations and hence the BITBUY PLATFORM and/or ability to structure, license and launch the BITBUY PLATFORM future business lines. Any such circumstances would then correspondingly negatively impact the trading price of any of the digital currencies. The Company, Bitbuy or any of the functional digital currencies allowed to be bought or sold through Bitbuy may be affected by newly implemented regulations.
Buying or selling digital currency is generally unregulated worldwide and highly uncertain, while numerous regulatory authorities across jurisdictions have considered implementing regulatory regimes which govern digital currency or digital currency markets. Any such circumstances would then correspondingly negatively impact the trading price of any of the digital currencies. The Company, Bitbuy or any of the functional digital currencies allowed to be bought or sold through Bitbuy may be affected by newly implemented regulations.
The Company or Bitbuy trading platform may be affected by newly implemented regulations relating to legal digital currency platofrms, including having to take measures to comply with such regulations, or having to deal with queries, notices, requests or enforcement actions by regulatory authorities, which may come at a substantial cost and may also require substantial modifications to the BITBUY PLATFORM and/or the anticipated BITBUY PLATFORM future business lines. This may impact the appeal of the BITBUY TRANSACTION PLATFORM and the anticipated BITBUY PLATFORM future business lines for users and result in decreased usage of the BITBUY PLATFORM and any or all of its digital currencies allowed to be traded on the transaction platform.
Should the costs (financial or otherwise) of complying with such newly implemented regulations exceed a certain threshold, maintaining the BITBUY PLATFORM and structuring, licensing, and launching the BITBUY PLATFORM, future business lines may no longer be commercially viable and Bitbuy may opt to discontinue the BITBUY PLATFORM, the anticipated BITBUY PLATFORM future business lines for any or all of its digital currencies allowed to be traded on the transaction platform.
It is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting Bitbuy, and the BITBUY PLATFORM future business lines. Bitbuy may also have to cease operations in a jurisdiction that makes it illegal to operate in such jurisdiction or make it commercially unviable or undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction. In scenarios such as the foregoing, such circumstances would then correspondingly negatively impact the trading price of any of the cryptocurrencies.
There may be unanticipated risks arising from any of the digital currencies traded on the Bitbuy transaction platform. Digital currencies are a relatively new and dynamic technology. In addition to the risks included in the above discussion of Risk Factors, there are other risks associated with our users purchasing, holding and use of any and all digital currencies, including those that the Company and Bitbuy cannot anticipate. Such risks may further appear as unanticipated variations or combinations of the risks discussed above.
Failure to receive or maintain permits or licenses relating to its Money Service Business (“MSB”) registration with FINTRAC.
23. LEGAL CONSIDERATIONS
Regulatory authorities are carefully scrutinizing businesses and operations associated with digital currencies around the world. As a result, regulatory measures, investigations or actions may affect Bitbuy’s business and even limit or prevent it from developing its operations in the future. Any person undertaking to buy, sell or hold digital currencies through Bitbuy must be aware that Bitbuy’s business model and its Terms & Conditions may change or need to be modiﬁed because of new regulatory and compliance requirements from any applicable laws in any jurisdictions.
In such case, any person undertaking to use the Bitbuy trading platform understands that neither Bitbuy nor any of its affiliates shall be held liable for any direct or indirect loss or damages caused by such changes and that project parameters, dates, speciﬁcations provided as well as other details technical or not could be subject to change without prior notice.
In addition, Bitbuy has the complete freedom to operate or domicile its business(s) anywhere suitable provided it complies with the regulatory framework of the requisite jurisdiction, and the jurisdiction it services. This document is provided for your information only and that under no circumstance should it be considered an effort by Bitbuy to either promote or sell digital currencies on its platform or on any other related or associated company’s platform.
Any interested person who is not in the position to accept nor to understand the risks associated with the activity (including the risks related to the non-development of Bitbuy platform and operations) or any other risks as indicated in this document, should not use the Bitbuy trading platform to buy, sell, nor hold digital currencies, either now or later.
Digital currencies bought, sold and held on the Bitbuy trading platform does not give any rights on dividends or interest. All transactions on the Bitbuy trading platform are final and non-refundable. Digital currencies bought, sold and held through Bitbuy does not give any right to participate to the general meeting of the Company and cannot have a performance or a specific value outside the Bitbuy platform or another affiliate platform.
Risks associated with the purchase, sale, and holding of digital currencies are mostly unregulated at present. Efforts are being made by various regulatory bodies around the world, including central banks and governments to supervise, regulate or even restrict the digital currency market.
Risks associated with new technology and digital currency tokens in general are a relatively new and untested technology. Due to this nature, technology-related unforeseen events may occur at any time. Participants comprehend and fully accept all types of related risks involved. Ethereum related risks to tokens will be issued on the Ethereum blockchain, thus being dependant on it. The functionality of the Bitbuy trading platform will be severely affected should the Ethereum protocol malfunction or fail.
Risks associated with quantum computers despite the efforts made by the blockchain community to safeguard the security of digital currency technology, the potential development and deployment of quantum computers or any other kind of advanced types of computers in the future may put this security at risk. In such a case, digital currencies that are bought, sold, or held through the Bitbuy trading platform may be adversely affected by way of price, demand, and liquidity. Digital currencies may lose their value in whole or completely without warning. There is no insurance company, private or public, to turn to should something go wrong with the funds provided.