BITCOIVA - TERMS AND CONDITIONS
Bitcoiva is centralized cryptocurrency exchange and trading platform, (herein after referred to as "Bitcoiva", which term shall refer to and include its owners, directors, investors, employees, officers, representatives, affiliates, or other related parties). Persons availing of the Bitcoiva Services (as defined below), directly or indirectly, are referred to herein, as " User ". Only natural or legal persons can be Users, and no person other than a natural or legal person with a valid, authorised account with Bitcoiva can avail of the Bitcoiva Services in any manner whatsoever.
This user agreement(this agreement) sets forth the legally binding terms and conditions your access to and use of any websites, mobile sites, mobile application, products and services offered by Bitcoiva(“Bitcoiva”, “us”, “our” and “we”). The “user”, “you”, “your” shall refer to any natural person or entity and its authorized users that subscribes or the services. Certain features of the site may be subject to additional guidelines, terms or rules, which will be posted on the side in connection with such features. All rules are incorporated by reference into this Agreement.
Please read these Terms carefully before you start to use Bitcoiva services. We recommend that you print a copy of this for future reference.
If you do not agree to these Terms, you must not use Bitcoiva Services. If you do not agree with any amendments made by to these Terms at any time in future, you must stop using Bitcoiva Services with immediate effect.
We may amend this Agreement related to the Services from time to time. Amendments will be effective upon our posting of such updated Agreement at this location or the amended policies or supplemental terms on the applicable Service. Your continued access or use of the Services after such posting constitutes your consent to be bound by the Agreement, as amended.
- In order to use certain features of the Site, you must register for an account (“Account”) and provide certain information about yourself as prompted by the account registration form. You represent and warrant that: (a) all required registration information you submit is truthful and accurate; (b) you will maintain the accuracy of such information. You may delete your Account at any time, for any reason, by following the instructions on the Site.
Identity Verification. You agree to provide us with the information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information. You will need to complete certain verification procedures before you are permitted to use the Services and your access to the Services may be altered as a result of information collected on an ongoing basis. The information we request may include certain personal information, including, but not limited to, your name, address, telephone number, e-mail address, date of birth, taxpayer identification number, government identification number, and information regarding your bank account (such as the name of the bank, the account type, routing number, and account number). In providing us with this or any other information that may be required, you confirm that the information is accurate and authentic. You agree to update this information and keep it current at all times. You authorize us to make the inquiries, whether directly or through third parties, that we consider appropriate, in our sole discretion, to verify your identity or protect you and/or us against fraud or other financial crimes, and to take action we reasonably deem necessary based on the results of such inquiries.
Certain Restrictions. By using the Services, you represent and warrant that: (i) neither you nor any of your directors, officers, employees, agents, affiliates or representatives is an individual or an entity that is, or is owned or controlled by an individual or entity that is (a) currently the subject of any Sanctions, or (b) located, organized or resident in a Designated Jurisdiction; (ii) you have complied in all material respects with all applicable laws relating to Sanctions, anti-terrorism, anti-corruption and anti-money laundering; and (iii) you have instituted and maintained policies and procedures designed to promote and achieve compliance with such laws. For the purpose of this Agreement, “Designated Jurisdiction” means any country or territory to the extent that such country or territory itself is the subject of any Sanction; “Sanction(s)” means any international economic sanction administered or enforced by the United States Government (including OFAC), the United Nations Security Council, the European Union or other relevant sanctions authority.
Account Responsibilities. You are responsible for maintaining the confidentiality of your Account login information and are fully responsible for all activities that occur under your Account. You agree to immediately notify Bitcoiva of any unauthorized use, or suspected unauthorized use of your Account or any other breach of security. Bitcoiva cannot and will not be liable for any loss or damage arising from your failure to comply with the above requirements.
Compliance. You are solely responsible for ensuring that your use of the Services is in compliance with all laws, rules and regulations applicable to you and the right to access the Services is automatically revoked where use of the Services is prohibited or to the extent that the offering, sale or provision of the Services conflicts with any law, rule or regulation applicable to you.
Available Only Where Permitted by Law. The Services are only available in jurisdictions where they may be legally offered for sale. The Services are not available to “U.S. Persons”, as such term is defined under Regulation S promulgated under the Securities Act of 1933. By accessing or using the Site, you represent and warrant that you are not a U.S. Person.
- Bitcoiva reserves the right, at any time, to modify, suspend, or discontinue the Services (in whole or in part) with or without notice to you. You agree that Bitcoiva will not be liable to you or to any third party for any modification, suspension, or discontinuation of the Services or any part thereof. You acknowledge that all the intellectual property rights, including copyrights, patents, trademarks, and trade secrets, in the Services and its content are owned by Bitcoiva or its suppliers. Neither this Agreement (nor your access to the Services) transfers to you or any third party any rights, Bitcoiva and its suppliers reserve all rights not granted in this Agreement. There are no implied licenses granted under this Agreement.
- Bitcoiva does not provide any warranty of services, either express or implied, in relation to the Bitcoiva Services. The Bitcoiva Services and the products offered therein, including facilitation services for the trading of cryptocurrencies between User to User, are provided on an " as-is " and " as available " basis. Users avail of the Bitcoiva Services, and deal in cryptocurrencies at their own risk and with full awareness of the risk of the possible diminishment, devaluation and (potentially) complete loss of the entire holding or valuation of the User Account and all cryptocurrencies held therein, in the event of the occurrence of any of the risk factors outlined in this Agreement (as well as other risk factors inherent in any transactions involving cryptocurrencies), including, but not limited to, changes in the regulatory or legal regime in India and/or outside India, and any legal, regulatory, contractual or other restrictions that may be placed on Bitcoiva. It is hereby expressly declared that Bitcoiva offers no warranty of any kind regarding the Bitcoiva Services.
- Bitcoiva Services shall however not be responsible or liable for any act, inaction, commission or omission by such third parties, including with respect to data protection, privacy, security practices, or compliance with applicable laws and regulations with respect thereto, including (but not limited to) the Information Technology Act 2000.
- Bitcoiva may use third party service providers to render some or all of the Bitcoiva Services, or for facilitating the same. User agrees to the use of such third parties, and hereby provides consent for collection, analysis, use, dissemination and retention by such third parties of any and all personal data, or and sensitive personal data and information, of the User. User shall be bound by the terms of service of such third parties to the same extent as Bitcoiva would be bound.
- Bitcoiva reserves the right to modify or amend the terms herein, and intimation thereof shall be sent to existing Users, who may decide to opt out of the Bitcoiva Services at such time by intimating Bitcoiva of such intention in writing. Continued use of the Bitcoiva Services shall be deemed to amount to confirmation and acceptance of the modified or altered terms hereof.
3.PURPOSE OF SERVICES
- Bitcoiva Services provide access to a platform that currently facilitates the online trading of cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets) including their sale and purchases(either using INR denominated funds or another form of Digital Assets).
- Subject to the conditions set out above, Users may utilize the Bitcoiva Services to purchase and/or sell cryptocurrencies (including cryptocurrencies, cryptocurrency tokens and digital assets) to and from each other, using the Bitcoiva Platform. The authentication of such buyers and sellers is the sole responsibility of the concerned User(s), and Users are required to ensure that all of the Bitcoiva Services are availed of only for legal purposes and through legal means.
- Creation of an Account on the Online Platforms and usage of the Online Platforms is free.
- Trading on the Online Platform is subject to payment of a fee on each transaction executed (" Transaction Fee "). The Transaction Fee chargeable on each trade shall be as provide in the Fee Schedule.
- Deposit of Digital Assets in the Coin Wallet is chargeable. Deposit of INR in the INR Wallet by NEFT/IMPS is also chargeable. Deposit of INR in the INR Wallet through credit card, debit card or net banking and other payment methods that uses the payment gateway will be subject to a transaction fee as described in the fee schedule. Fee applicable on withdrawal of Cryptocurrencies or INR shall be as provided in the Fee Schedule. Deposits and withdrawals on Cryptocurrencies or INR will be subject to withdrawal limits provided in the Fee Schedule.
- Payment of Fees. You authorize us, or our designated payment processor, to charge or deduct funds from your Hosted Wallet for any applicable Fees owed in connection with exchange transactions you complete via the Services.
5.CHANGES TO THESE TERMS AND SERVICES
- We may revise these Terms at any time by amending this page. Please check this page from time to time to take notice of any changes we made, as they are binding on you.
- We may, without prior notice, change the Services; add or remove functionalities or features; stop providing the Services or features of the Services, to you or to users generally; or create usage limits for the Services.
- We reserve the right to refuse to continue providing you with access to the Online Platforms if we discover that you are (a) incompetent to contract by virtue of your age or otherwise under these Terms or the Applicable Law and/or (b) in breach of the Terms. The Online Platforms are not available to persons whose named is included in any Sanctions Lists or whose membership has been suspended or terminated by us for any reason whatsoever.
- We reserve the right (but have no obligation) to investigate and/or take appropriate action against you in our sole discretion if you engage in Prohibited Activities or violate any other provision of this Agreement or otherwise create liability for us or any other person. Such action may include, in our sole and absolute discretion, terminating your Account in accordance with Section 8, reporting you to law enforcement authorities without providing any notice of you about any such report and confiscating any balance remaining in an Account which has been terminated
- The laws of the British Virgin Islands, excluding its choice of law provisions, will govern these Terms and any dispute that arises between you and Bitcoiva.
9.THE BITCOIVA WALLETS
- Supported Cryptocurrencies. The Bitcoiva wallet allows you to send, receive and store cryptocurrency (together, “Wallet Transactions”). The Bitcoiva wallet is only available in relation to the cryptocurrencies that Bitcoiva, in its sole discretion, decides to support (“Supported Cryptocurrency” or “Supported Cryptocurrencies”). Information about the Supported Cryptocurrencies can be found on the FAQ page on the Bitcoiva website.
- A Coin Wallet has been provided to you wherein Cryptocurrencies may be stored. Funds held in this Wallet may be used to purchase another Cryptocurrency, and any sale proceeds obtained in form of Cryptocurrencies will be credited only into this Wallet. You are not entitled to any interest on the Funds held herein.
- You are permitted to withdraw Funds held in this account, provided such Funds can only be transferred to another Cryptocurrency wallet (" External Wallet "). You may be required to verify that you own and operate the External Wallet before your withdrawal request is accepted.
- In case you transfer any Funds to a recipient who is not a User of our Online Platforms, we will invite such recipient to open a User Account, and transfer the Funds back to your Coin Wallet in case of such recipient ʼ s failure to open a User Account within 30 days.
- You are not permitted to transfer, store or receive any Cryptocurrencies in Bitcoiva Online Platform that are not supported by our Online Platforms. You acknowledge that the Company shall not be liable for any losses suffered by you in connection with your attempt to transfer, store or receive digital assets in contravention of this Clause.
- Bitcoiva is not responsible for damages caused by delay or failure to perform undertakings under this Agreement when the delay or failure is due to fires; strikes; floods; power outages or failures; acts of God or the state’s enemies; lawful acts of public authorities; any and all market movements, shifts, or volatility; computer, server, or Internet malfunctions; security breaches or cyberattacks; criminal acts; delays or defaults caused by common carriers; acts or omissions of third parties; or, any other delays, defaults, failures or interruptions that cannot reasonably be foreseen or provided against. In the event of force majeure, Bitcoiva is excused from any and all performance obligations and this Agreement shall be fully and conclusively at an end.
- The communications between you and Bitcoiva use electronic means, whether you use the Site or send us emails, or whether Bitcoiva posts notices on the Site or communicates with you via email. For contractual purposes, you (a) consent to receive communications from Bitcoiva in an electronic form; and (b) agree that all terms and conditions, agreements, notices, disclosures, and other communications that Bitcoiva provides to you electronically satisfy any legal requirement that such communications would satisfy if it were be in a hardcopy writing. The foregoing does not affect your non-waivable rights.
12.INSTANT BUY/SELL SERVICES
- In General: Eligible users in certain jurisdictions may buy or sell supported cryptocurrencies through the Conversion Services. The Conversion Services are subject to the Bitcoiva "Conversion Rate" for the given transaction. "Conversion Rate" means the price of a given supported Digital Currency amount in terms of Fiat Currency or other Digital Currency as quoted on the Bitcoiva Site. The Conversion Rate is stated either as a "Buy Price" or as a "Sell Price," which is the price in terms of Fiat Currency or Digital Currency at which you may buy or sell supported Digital Currency to Bitcoiva. You acknowledge that the Buy Price Conversion Rate may not be the same as the Sell Price Conversion Rate at any given time, and that Bitcoiva may add a margin or " spread " to the quoted Conversion Rate. You agree, as a condition of using any Bitcoiva Conversion Services, to accept the Conversion Rate as the sole conversion metric. Bitcoiva reserves the right to delay any Conversion Service transaction if it perceives a risk of fraud or illegal activity. Bitcoiva does not guarantee the availability of its Conversion Service, and the act of purchasing supported Digital Currency from Bitcoiva does not result in a guarantee that you may sell your supported Digital Currency to Bitcoiva.
- Purchase Transactions: After successfully completing the KYC procedures, you may purchase supported Digital Currency by linking a valid payment method. You authorize Bitcoiva to initiate debits from your selected payment method(s) in settlement of purchase transactions.
- Sale Transactions: After successfully completing the KYC, you may sell supported Digital Currency by linking a valid payment method. You authorize Bitcoiva to debit your Bitcoiva Account(s) and initiate payments to your selected payment method(s) in settlement of sell transactions. An applicable Conversion Fee (defined below) applies to all sale transactions. Your receipt of funds will depend on the payment type, and may take up to three or more business days.
- For general enquires, complaints and/or giving any feedback, please email to [email protected]
- In case you do not want to continue using our Services and want to deactivate your Account with us, please contact is at [email protected]