Last updated: April 1st, 2022
This document contains the Terms and Conditions applicable to the Services, included in clause 1 herein, offered by UAB JM Trading. By using our Services, you agree to accept and comply with these Terms and Conditions (“Terms”). All Terms should be carefully read and understood before using our Services. If you do not agree with these Terms, please do not use our Services.
UAB JM Trading (the “Company”, “we”, “us”, and “our”), trading as BC Bitcoin, refers to a limited company registered at J. Savickio g. 4-7, Vilnius 01108, Lithuania (company number: 306042742). All users of the Company’s Services shall be referred to as “You” or “Customer”.
Our website is operated by UAB JM Trading at www.bcbitcoin.com (“Website”), including any application programming interfaces we use. By registering on our Website and creating an account, you agree that you have read, understood and accepted our Privacy Policy, in addition to these Terms and Conditions.
If and to the extent you were previously a customer of J & M Trading Limited in respect of any services similar to the Services then, by agreeing to these Terms and Conditions, you further agree to the novation of all rights and obligations under any such previous arrangement with J & M Trading Limited to the Company.
1. Our Business and Services
1.1. BC Bitcoin offers access to our cryptoasset exchange Services allowing Customers to buy, sell and swap cryptoassets and tokens through our Website. Our Services also include Coin Storage service allowing Customers to store their cryptoassets.
1.2. BC Bitcoin operates on an execution basis, only. This means we are responsible for placing the trade on your behalf, upon your strict instruction. Any research, decisions or considerations to be made before placing a trade with us, including the placing of the trade itself, are your sole responsibility.
1.3. The BC Bitcoin platform supports cryptoasset trading in both British Pounds Sterling (GBP) or Euro (EUR). We reserve the right to support other currencies at our sole discretion.
1.4. We will take all reasonable steps to ensure our Services are made available at all times, with these Terms. Occasionally, we may suspend access to our Services due to necessary maintenance. When we do, we will inform Customers with prior notice, wherever possible. Customers understand that during times of emergency, we may not have time to inform you of interruptions, prior to taking place. In this event, we will seek to communicate this to you as soon as possible, after the fact.
1.5. BC Bitcoin grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use Services of BC Bitcoin through your computer or Internet compatible devices.
2. Opening an account with us (Due Diligence)
2.1. When you open an account with us, you warrant and represent that:
2.1.1. You have accepted these Terms along with our Privacy Policy;
2.1.2. You are at least 18 years of age, the relevant age to enter into a binding contract such as these Terms;
2.1.3. You fully understand that there is a substantial risk of loss in the trading or holding of cryptoassets. The value of cryptoassets fluctuates - meaning the value increases and decreases as determined by the crypto market. You should consider, before placing a trade, if trading or holding cryptoassets is suitable for you, depending on your financial circumstances.
2.1.4. You are in compliance with our Permitted Jurisdictions policy as outline in clause 24.
2.1.5. Any information, including any personal data you provide to us at any time will be accurate, true and complete in all respects. Please do not withhold any information that might be vital to our checks or provide misleading information for the purposes of obtaining an Account. If you discover that any of the information provided to us is incorrect, please let us know without delay. We retain the right to freeze your BC Bitcoin account until the information is amended. We handle all of your Personal Data in accordance with our Privacy Policy;
2.1.6. The funds you are using to buy, sell, swap or store cryptoassets, are your personal funds and you are not acting on behalf of any other third-party;
2.1.7. You are not, and will not, use at any time, our Services for any transaction which is illegal or contrary to any law or regulation in force in Lithuania or in any jurisdiction in which you are a resident at the time when the transaction is entered;
2.1.8. You are not using and will at no time use our Services to perform criminal activity of any sort;
2.1.9. You have the capability to take delivery of any cryptoasset you purchase through your use of the Services; and
2.1.10. You will have only one BC Bitcoin account at any given time. If we suspect you have opened duplicate trading accounts, we may suspend some or all of your accounts.
2.2. If at any time after we have opened your account, we become aware that any of the warranties and representations you have made are untrue, we reserve the right without notice to you, to cease processing transactions, immediately close your account and take such further action at our absolute discretion.
2.3. By opening an account with us, you also acknowledge and accept that:
2.3.1. Nothing within the BC Bitcoin Service, or these Terms, is intended to be investment advice in connection with the sale, purchase or swap of cryptoassets. You enter any trades initiated entirely at your own risk and we are not liable for any profit or loss as a result of your trading activity;
2.3.2. Cryptoassets are cryptographically secured digital representation of value of contractual rights using a form of distributed ledger technology. These are a volatile and relatively immature asset class which are subject to a very high degree of volatility;
2.3.3. It is your responsibility to provide accurate and correct wallet and blockchain network information when engaging with any of our Services. Due to the irreversible nature of cryptoasset transactions we are unable to reverse or recover the cryptoassets once they have been sent.; and
2.3.5. You will not use our Services if any applicable laws in your local jurisdiction prohibit you from doing so in accordance with these Terms.
2.4. To open an account with us, you must:
2.4.1. Complete our mandatory Know Your Customer (“KYC”) verification by providing us with the following personal data:
2.4.1.1. Identity Data and Contact Data as defined in our Privacy Policy;
2.4.1.2. Proof of Identity and Proof of Address; and
2.4.2. Complete a Liveness identity verification and successfully pass a Likeness check using our verification system against your Proof of Identity;
2.4.3. Consent to us carrying out an identity check and you also consent to us holding copies of Proof of Identity and Proof of Address solely for the purposes of verifying You.
2.5. We are not obliged to open an account for you and may refuse your application without providing a reason for our decision. We may also impose restrictions at our sole discretion as a condition of agreeing to open an account for you.
2.6. Video Call
2.6.1. We reserve the right to request additional verification in the form of a Video Call during business hours before engaging when any of our Services. To complete the Video Call, you must:
2.6.1.1. Respond and confirm a time to complete the call;
2.6.1.2. Inform us of the platform or means of communication you have access to, including the use of WhatsApp, Skype or Zoom; and
2.6.1.3. Attend the Video Call in person, confirm order details, answer questions, and provide information when requested.
2.6.2. Video Calls may only be used for internal verification and compliance purposes, unless legally obligated otherwise as stated in our Privacy Policy.
2.6.3. We only complete Video Calls in English though where possible we will make reasonable adjustments (translation tools and software) to resolve any language barriers and communication issues. Any translation provided via email correspondence is intended for informational and guidance purposes only and may not accurately and identically represent our English translated definition. It is your responsibility to ensure that you have fully understood any translated information. If we are unable to complete our Video Call for whatever reason, we may temporarily suspend trading through your account until the call is completed.
2.7. Account Closure
2.7.1. Requesting closure of your Account:
2.7.1.1. You may request the closure of your account with us at any time. Upon the receiving a request to delete your account, all your Personal Data will be processed in accordance with the terms stated within our Privacy Policy. Any outstanding orders on account will still be completed.
2.7.1.2. Any assets held within Coin Storage or on account at the time of the closure request may be withdrawn to a personal wallet or exchanged into fiat and paid out to a personal bank account, upon your explicit instruction.
2.7.2. Suspension/Termination of your Account:
2.7.2.1. We retain the right to suspend or terminate your account, with notice, at our sole discretion. Account closure may be authorised in the following circumstances but not limited to:
2.7.2.1.1. Failure to comply with our Terms;
2.7.2.1.2. Performing any Prohibited Activity (refer to paragraph 3.3 and 3.4 of these Terms);
2.7.2.1.3. We have reason to believe that you have made a false warranty to us or you are otherwise unauthorised from having a BC Bitcoin account;
2.7.2.1.4. We are required to do so by applicable law;
2.7.2.1.5. We suspect the use of our Services involves financial crime;
2.7.2.1.6. We have reasonable concerns regarding the security of your account with us; or
2.7.2.1.7. We reserve the right to close your account at our discretion if we are made aware of abusive or deceitful behaviour towards members of staff.
2.7.3. Closed accounts will be unable to interact with our Services. Depending on the circumstances leading to the account closure, you may need to complete new and up-to-date KYC verification and provide additional information if requested.
3. Operating your account with us and making trades
3.1. You may make a trade from 8:00am till 8:00pm GMT (“business hours”), through the Website or by contacting us via telephone or email. Any orders placed or payments received outside of business hours may not be processed until the next business day.
3.2. We reserve the right at our discretion to process your order when the payment is received. Depending on the trade, value and its nature, we reserve the right to conduct additional checks which must be completed before the trade is executed. We will inform you when this is applicable.
3.3. You may not use our Services to conduct or facilitate any unlawful or criminal activity. Additionally, Prohibited use of Services includes when you are involved in or use our Services to facilitate any of the activities included in the following non-exhaustive list of activities:
3.3.1. Illegal Gambling – Unregistered and unregulated gambling or betting platforms of any kind;
3.3.2. Drugs and Drug Paraphernalia - including illegal substances, controlled substances, any “legal highs” or synthetic drugs, or any apparatus or equipment used in the creation, distribution or promotion of such substances;
3.3.3. Adult content and services - including but not limited to pornographic and other obscene material, the offering of sexual services, including in person, on live chat facilities, escorting and prostitution;
3.3.4. Intellectual Property Infringement – Transactions that would violate any copyright or trademark rights of third parties without their explicit authorisation. This includes the use of BC Bitcoin intellectual property such as our Company name, logo, Website content or design, API or any resources owned by us, without our explicit written consent;
3.3.5. Unauthorised Investment Schemes;
3.3.6. Multi-level Marketing (MML) schemes - including but not limited to pyramid schemes, network marketing, and referral marketing programs;
3.3.7. Counterfeit and or Unauthorised Goods;
3.3.8. Regulated products and services including marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; weapons and munitions; gunpowder and other explosives; fireworks and related goods; toxic, flammable, and radioactive materials;
3.4. Prohibited use of our Services also includes circumstances when you are:
3.4.1. Acting as a crypto broker;
3.4.2. Involved in fraud – any attempts to defraud our Services or any of our Customers by providing false, misleading or inaccurate information;
3.4.3. Involved in abusive Activity – activity to deliberately impose a large load on our infrastructure and systems or to upload any malicious and harmful material that contains malware, trojans, viruses. Attempts to gain unauthorised access to our platform and Services or unauthorised access to information and data.
3.4.4. Involved in third-party access and use of account – using the account of another Customer to gain access to our platform and Services.
3.5. If the Customer is suspected to be using their account to conduct or facilitate any of the activities indicated in paragraph 3.3 and 3.4, we retain the right to immediately close the account and cease trading.
3.6. You must ensure that your account is used for your personal use only unless you maintain and operate a corporate account which can be used for business purposes.
3.7. Customers are only permitted to register and operate one account on our platform. Should we have reasonable evidence to suggest you are operating more than one account to access our platform and Services, we reserve the right at our absolute discretion to:
3.7.1. Suspend trading of the accounts pending conclusion of our review;
3.7.2. Close all accounts and cease trading; or
3.7.3. Allow one account to remain in operation and close all others associated with the Customer.
3.8. Placing Trades on BC Bitcoin where you are buying Cryptoassets (Bank Transfer to BC Bitcoin):
3.8.1. When you wish to purchase a cryptoasset, you should inform us of the trade you wish to make, specifying:
3.8.1.1. The name of the cryptoasset you want to purchase; and
3.8.1.2. The amount of fiat currency you wish to spend.
3.8.2. The trade will be priced based on information you provide, at the time of the trade and the fees charged will be displayed. You will be informed of the total amount to pay. This amount will include all charges for our service and execution priced in the chosen fiat currency from your chosen bank account.
3.8.3. The ‘Current Price’ displayed on the Website is based through API’s and may differ from the rate achieved once the trade is completed. The rate displayed is not guaranteed and subject to change due to prevailing market conditions. The execution rate will be confirmed once payment has been received and order completed.
3.8.4. You must:
3.8.4.1. Make a transfer to our account to the full value of the trade using the reference provided, account details will be displayed through the Website or on request; and
3.8.4.2. Provide a valid and compatible wallet address for us to transfer the purchased cryptoassets, unless using our Coin Storage services. We will not be held responsible for any incorrect wallet address or information supplied including if any Memo/Tag/Payment ID is required but was not provided. All wallet information must be submitted with your order via your registered account. If and when additional wallet checks and/or information is requested, this must be received from your registered email address.
3.8.5. We may conduct checks and ask you to submit further information and documents for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes. This on occasion may mean that we, in our absolute discretion, may refuse or delay the transfer of fiat funds and (or) cryptoassets to you.
3.8.6. Once the payment arrives and clears to our account, the requested cryptoasset will be purchased at the best available market rate. The amount of cryptoassets acquired will be sent to the wallet address provided by you.
3.8.7. Trades can only be executed once the funds have arrived in full to our account during business hours. We cannot be held responsible for any delay in payment arising from additional checks or from the halting or return of funds by any bank or payment institution.
3.8.8. If instruction or payment are received by us outside business hours, the order will not be completed until the following business day.
3.8.9. We can only accept funds from an account in a name which corresponds to the details supplied to us during the KYC verification process. If funds arrive to us from an account not in your registered name, we will ask you to provide evidence of your association to the account and authorisation. If the funds are sent from a joint account, you must inform us in advance of sending the funds. We reserve the right at our absolute discretion to request full or partial KYC verification (referred to in paragraph 2.4 and 2.6) on the other account holder before proceeding with the order.
3.8.10. We will record details of each cryptoasset transfer from us to your provided wallet address(es). Provided that any admin error is not made by the Company when sending any, cryptoasset to the wallet address(es) specified, we will not be responsible for any loss caused by any delays in the crediting of, or failure to credit, your cryptoasset wallet(s) or failed recovery of funds.
3.8.11. We cannot be held responsible for any delays incurred when incorrect payment references are used and subsequent changes in rate.
3.8.12. Any SWIFT payments sent to our account will be returned to the sender as this payment type is not enabled. Any costs incurred for returned SWIFT payments will be borne by the Customer.
3.8.13. We reserve the right to return any CHAPS payments and cancel orders that are associated.
3.8.14. We reserve the right to request additional KYC verification if we are unable to verify the account holder for payment.
3.8.15. We are unable to refund any completed cryptoasset purchases. Once the order is completed you will be exposed to the price volatility of the purchased cryptoasset(s).
3.9. Placing Trades on BC Bitcoin where you are buying Cryptoassets (Card Payment):
3.9.1. You inform us of the trade you wish to make, specifying:
3.9.1.1. The cryptoasset you want to purchase; and
3.9.1.2. The amount of fiat currency you wish to spend.
3.9.2. The trade will be based on information provided through API’s and is inclusive of all applicable fees. The amount of cryptoasset displayed to receive is based on API technology and we reserve the right to re-quote this at our absolute discretion, with notice to you.
3.9.3. You must:
3.9.3.1. Use our partnered card payment provider and the link provided to make payment. You must ensure all payment details are entered correctly for a successful transaction;
3.9.3.2. Use a payment card issued solely in your name; and
3.9.3.3. Provide a valid and compatible wallet address for us to transfer the purchased cryptoassets, unless using our Coin Storage services. We will not be held responsible for any incorrect wallet address or information supplied including if any Memo/Tag/Payment ID is required but was not provided.
3.9.4. We may conduct checks and ask you to submit further information and documents for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes. This on occasion may mean that we, in our absolute discretion, may refuse or delay the transfer of fiat funds and (or) cryptoassets to you.
3.9.5. Once payment is received and confirmed by our card provider, the cryptoasset will be purchased, and cryptoassets sent to the wallet information provided. Cryptoassets will be held within Coin Storage should this be selected.
3.9.6. We can only accept funds from a card in the name which corresponds to the details supplied to us during the KYC verification process. If funds arrive to us from an account not in your registered name, we will ask you to provide evidence of your association to the account and authorisation. We reserve the right to complete additional KYC verification before authorising the order and payment.
3.9.7. We reserve the right to return and cancel any card orders received with outstanding compliance requirements the following day.
3.10. Where you are selling Cryptoassets:
You must inform us of the trade you wish to make, specifying:
3.10.1.1. The cryptoasset you wish to sell, and the precise value of the trade expressed as the exact amount of cryptoasset being sent to be sold;
3.10.1.2. The fiat currency which you want to receive payment in; and
3.10.1.3. Your account details.
3.10.2. We will price the trade according to the prevailing market sell price of the corresponding cryptoasset and inform you of the value you can expect to receive. This value will be inclusive of all applicable fees.
3.10.3. You must:
3.10.3.1. Accept the trade via the Website or email. Once accepted and cryptoassets transferred, a trade cannot be amended or revoked;
3.10.3.2. Make a transfer to our wallet for the full value of the trade, we will supply details of our wallet address on request. You must take care to ensure you only send compatible assets to the supplied address and information. We cannot be held responsible for any losses as a result of cryptoassets being sent to incorrect or incomplete wallet information including if any Memo/Tag/Payment ID has been provided and not included in the transaction. If a transaction does not appear on the blockchain within reasonable time of the order being submitted and valuation provided, we reserve the right at our absolute discretion to reprice and process the order based on market conditions at the time the transaction appeared on the blockchain.
3.10.3.3. Provide your bank account details for us to transfer the funds to which must be an account in your name, corresponding to the details supplied during the KYC verification. We cannot be held responsible for any incorrect account information supplied and loss of funds as a result. We cannot return funds to a bank account not registered in your name.
3.10.4. We may conduct checks and ask you to submit further information and documents for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes. This on occasion may mean that we, in our absolute discretion, may refuse or delay the transfer of fiat funds and/or cryptoassets to you.
3.10.5. Upon successfully receiving cryptoassets to our wallet, the trade will be executed and proceeds from the sale sent to your account. Transfers will typically take 1-3 business days to complete, although where possible we will use the Faster Payment Service (FPS) for transfers of Pound Sterling within the UK banking system or Single Euro Payments Area (SEPA) transfers for Euro payments to banks located within the European Union or European Economic Area (EEA).
3.10.6. We will use all reasonable endeavours to provide our Services to you on a best execution basis. However, provided we have sent the requested fiat currency to the correct bank account specified by you, we will not be responsible for any loss caused by any delays in the crediting of, or failure to credit, your bank account.
3.10.7. We are unable to complete any third-party payments for the sale of cryptoassets. If banking information does not match the registered Customer’s account details, we reserve the right to cancel the order and return the cryptoassets.
3.10.8. It is the Customer's responsibility to ensure the correct amount of cryptoassets is sent for sell orders. Should the incorrect amount of cryptoassets be sent, we reserve the right to re-quote the valuation. Providing cryptoassets are verifiable on the blockchain within a reasonable amount of time, this will be re-quoted using the original rate for the order and the new amount of cryptoassets received.
3.10.9. Where cryptoasset is received outside business hours, payment will not be released until the following business day.
3.10.10. We are unable to refund any completed cryptoasset sales. Once cryptoassets have been received and trade completed, the transaction cannot be reversed.
3.10.11. If the sale order is submitted and cryptoassets sent but the Customer fails to supply account information, the sale will be completed, and the Customer contacted. The funds will be transferred once account information has been confirmed.
3.10.12. Each transaction that you process using our Services is subject to a transaction fee. We may, at our discretion, deduct transaction fees from your accounts either on an individual per transaction basis or on a daily-consolidated basis.
3.11. Coin Swap
3.11.1. On completion of registration, you may interact with our crypto-to-crypto service, Coin Swap. Customers will receive the ‘Receiving’ cryptoasset displayed in full, provided the ‘Exchanged’ cryptoasset is received in full. By sending the cryptoassets in full to our wallet, you authorise us to complete the exchange. Once complete, your account will be updated to reflect this.
3.11.2. To initiate a Coin Swap, you must provide us with the following:
3.11.2.1. The cryptoasset you wish to ‘exchange’ and ‘receive’;
3.11.2.2. The amount of cryptoassets you are sending to be ‘exchanged”; and
3.11.2.3. The wallet for the ‘receiving’ of cryptoassets.
3.11.3. While customers can interact with this service 24 hours a day, if instruction or cryptoassets are received by us outside business hours, the order will be processed and released during our business hours.
3.11.4. We may conduct checks and ask you to submit further information and documents for the purposes of preventing fraud, money laundering, terrorist financing and other financial crimes. This on occasion may mean that we, in our absolute discretion, may cancel or delay the transfer of cryptoassets to you.
3.11.5. We will not be held liable for any incorrect cryptoassets amounts sent for Coin Swap orders. It is the Customers’ responsibility to ensure the correct number of cryptoassets are sent which are compatible on that network. We will also not be held liable for any delays incurred due to this.
3.11.6. The amount of cryptoassets sent for a Coin Swap exchange must match that of what was submitted on the order. We reserve the right to re-value the Coin Swap exchange at any time should there be a discrepancy. This will be re-quoted at prevailing market conditions and at our discretion.
3.11.7. The Exchanged cryptoasset will be sent to the provided wallet information. We will not be held responsible for any incorrect wallet address or information supplied including if any Memo/Tag/Payment ID is required but was not provided. If a transaction does not appear on the blockchain within reasonable time of the order being submitted, we reserve the right at our absolute discretion to reprice and process the order based on market conditions at the time the transaction appeared on the blockchain.
3.11.8. Where the value of the exchange exceeds our threshold, you may contact us for a bespoke order. A quote will be provided in which we reserve the right to re-quote at our discretion should a discrepancy occur in the cryptoasset amount received or a delay in transfer made.
3.12. Coin Storage
3.12.1 In the unlikely event UAB JM Trading or any third parties we rely on to store assets on our behalf were to become insolvent, clients could potentially lose part of or all their Crypto assets. Although we use an insured crypto custodian and secure third parties, there is still a risk of security breach due to the service’s reliance on the world wide web. You could lose some or all of your cryptoassets, and there is no guarantee that you will be compensated for any resulting financial loss.
Any loss or shortfall will be shared between yourself and any other affected clients, based on the size of your and their holdings. There may also be a delay in returning cryptoassets to you if an insolvency occurs.
Crypto assets held in Coin Storage are pooled together in one or more of our custodian Crypto asset wallets. The legal status of Crypto assets is uncertain and holding crypto assets with us in Coin Storage is not without risk. Although we exercise extreme caution and operate within industry best practices, we cannot guarantee the safety of your crypto assets.
Risks can include but are not limited to the following:
i) Network hacks and failures
ii) Third party hacks, insolvency, and negligence
iii) UAB JM Trading hacks, Insolvency, and negligence
iv) Market fluctuations and credibility issues
3.12.2. The Coin Storage service is available for Customers leaving cryptoassets in our custody. This service supports and is compatible with a wide variety of cryptoassets listed on our platform. You may Buy, Sell, Swap, and Withdraw cryptoassets in Coin Storage anytime during our hours of operation. We cannot be held responsible for any loss incurred for any delay in access to your coins held in Coin Storage. When you leave cryptoassets in our custody, you warrant that you understand the obligations and risks of doing so.
3.12.3. When using Coin Storage, we may offer a 30-day period of grace regarding the fees charged at our absolute discretion should you complete a cryptoasset purchase and set up a wallet to receive cryptoassets within the stated time frame. We reserve the right at our absolute discretion to charge or waive the fees associated with this service.
3.12.4. Assets held in our Coin Storage will not be subject to Airdrops or additional coins from Network Forks. At our sole discretion, we reserve the right to support crypto asset redenomination’s and token/contract migrations where possible.
By using our Coin Storage service, you acknowledge and accept these risks.
3.12.5. Depositing Cryptoassets
3.12.5.1. You may request to deposit cryptoassets to our Coin Storage service via email, phone, or our online messaging service anytime during regular business hours.
3.12.5.2. You must inform us of the amount and the depositing currency of the cryptoassets you want to transfer into Coin Storage. We reserve the right to perform additional due diligence checks and to request further information or evidence before or after receiving a deposit.
3.12.5.3. We will provide you with the relevant wallet information via email to transfer the assets. It is the Customers’ responsibility to ensure the correct amount of cryptoasset on the correct blockchain network is transferred to the provided wallet information. We cannot be held responsible for any mistake or delay incurred in the crediting of cryptoassets to your account due to a mistake.
3.12.5.4. Deposited cryptoassets are subject to a ‘Entry Fee’ of 0.5% detailed on the Coin Storage page, we reserve the right to charge or waive this fee at our absolute discretion.
3.12.6. Withdrawal of Cryptoassets
3.12.6.1. You may request to withdraw cryptoassets to our Coin Storage service during regular business hours.
3.12.6.2. Requests must be made from your registered email, we are unable to complete requests made from any other channels of communication. We reserve the right to request a Video Call or Phone Call to confirm the details prior to sending a transaction, for security and verification purposes only.
3.12.6.3. It is the Customers’ responsibility to communicate the correct blockchain network required and provide a compatible wallet address for the withdrawal of cryptoassets. Although we take all available precautions to ensure that you safely receive withdrawn cryptoassets, we will not be responsible for the loss of cryptoassets due to incorrect or incomplete wallet information provided by you.
3.12.6.4. No additional transaction fees are incurred when withdrawing from Coin Storage except for the 0.5% “Withdrawal Fee” detailed on the Coin Storage page, we reserve the right to charge or waive this fee at our absolute discretion.
3.12.7. Custody Fees
3.12.7.1. Fees charged for Coin Storage are calculated based on the amount of cryptoassets deposited and the duration of time they are in our custody. All Fees are deducted from your total holdings, charged upon withdrawal. There are no Custody fees charged if you Buy, Sell or Swap cryptoassets being held in Coin Storage.
4. Confidentiality and Disclosure of Information
4.1. We agree to keep confidential and never disclose any personal information relating to you, including name, address, email address, banking details or any of the trades you have made with us (“Personal Data”) without your explicit consent.
4.2. Only when legally obligated to, the Company will disclose in our absolute discretion and without notice to you, Personal Data with law enforcement, taxation authorities, data protection authorities, government officials and other regulatory authorities.
4.3. BC Bitcoin is fully committed to maintaining the security of the BC Bitcoin Services, therefore protecting your entrusted funds and your Personal Data. When you create an account with us, you will be asked to create a confidential username and password. Please do not disclose these login details to any third parties. If you become aware of unauthorised access to your account, please contact us as soon as possible.
4.4. We embed appropriate technical and organisational measures to ensure the security of your Personal Data to prevent accidental loss, destruction, disruption, or accidental or wrongful disclosure.
4.5. You are solely responsible for keeping your BC Bitcoin Account and password. You are responsible for all the transactions within your Account. The Company assumes no liability for any loss or consequences caused by authorised or unauthorised use of your account credentials, including but not limited to wrongful disclosure of data. As good practice, we recommend that you log out of your BC Bitcoin account after each use.
5. Communication
5.1. You agree to receive all communications from us in an electronic format and you agree to receive this to your registered email address assigned to your account. The types of information we may need to communicate with you includes but is not limited to:
5.1.1. Our Terms including any updates to our Terms, agreements, or policies;
5.1.2. In response to Customer inquiries regarding your account with us;
5.1.3. Account information such as order history, reports and transaction information;
5.1.4. Any legal or regulatory updates we are obliged to update you with; and
5.1.5. Any system changes or developments we need to make you aware of.
5.2. When you are contacting our Company, we recommend using encrypted emails due to the sensitive nature of our business relationship. Please do not disclose any more information to us beyond what is required, specifically when discussing cryptoassets and values. Unencrypted emails are not secure, and we cannot be held responsible for any damages caused by their use as no one can guarantee the safety of the Internet at any time. If we receive unencrypted or unsecure emails from you, we may use the same means of communication to respond and you accept the risk.
5.3. As part of our Service, we perform direct marketing. That means we would like to share information with you about our Service, including offers, discounts and other promotional material. Where we have your email address as a Service user, we will seek your explicit consent before we deliver marketing material to you.
6. Updating your Information
6.1. It is the Customers’ responsibility to update us regarding any changes to their personal or contact information, such as residential address, email address or legal title/name, if it differs from the information that you provided during KYC verification process. Any changes to inaccurate information must be communicated to us as soon as possible. We may suspend access to your account if we believe the data, we hold about you is inaccurate, or no longer accurate.
6.2. We are not responsible for any instances of loss or inconvenience that occur as a result of inaccurate or incorrect information provided by you.
6.3. If you believe the information, we hold about you is incorrect, you have the right to submit a request to us to rectify this information. Please contact us at info@bcbitcoin.com from your registered email. We reserve the right to confirm your identity and right to access or modify data within our possession.
7. Additional Risk Notice
7.1. Cryptoassets, including distributed ledger technology (DLT) like Blockchain, are not backed or guaranteed by any financial institution. When purchasing cryptoassets, Customers warrant that they fully understand and assume all associated risks that accompany trading in cryptoassets, including but not limited to the fact that it may become worthless in value in the future.
7.2. You should conduct your own due diligence before making any investment decisions. The risk of loss in trading or holding cryptoassets can be substantial. The value of cryptoassets may be very volatile and there can be a substantial risk that you lose money buying, selling, holding, or investing in cryptoassets.
7.3. The Company makes absolutely no guarantee about the future value of any cryptoasset.
8. Customer Input Errors
8.1. It is the responsibility of the Customer to check the accuracy of information submitted and ensure information provided by the Company is correctly imputed. In the case that this information is incorrect, and funds or assets are transferred to an unintended destination, the Company shall not reimburse the Customer or transfer additional funds.
9. Refund Rights
9.1. Where an incorrect transaction is made as a result of our action or error, we shall refund you the amount of that transaction at the time it was placed. We reserve the right to allow reasonable time to investigate the issue and rectify the situation. Due to the nature of cryptoassets, we are unable to refund any completed orders for any other reason.
10. Over- or under-payment of orders
10.1. It is the Customer’s responsibility to pay the correct payment amount. If the Customer pays less than the payment amount received for their order (under-payment), the Company reserves the right to either:
10.1.1. Cancel the order and refund the payment amount; or
10.1.2. Recalculate the order based on the payment amount received.
10.2. If Customer pays over the payment amount required (over-payment), the Company reserves the right to complete the order by incorporating the over payment amount with the original specified order amount.
11. Test Transaction
11.1. If you request a test transaction, we will send a small amount of cryptoassets to the requested address. Once the cryptoassets are confirmed to have been received, the balance will be sent to the same wallet address. We will not pay mining fees associated with test transactions and cryptoassets will be deducted from the Customer’s order amount or holdings.
12. Invalid Customer Details
12.1. The Company reserves the right to close any account, cancel or refund any order, where false, inaccurate, or misleading information (including but not limited to Personal Information) has been provided to us.
13. Complaints
13.1. If you wish to make a complaint in relation to our Services, please let us know via email immediately at info@bcbitcoin.com. To help us to distinguish a complaint from a typical query, you should clearly indicate that you wish to make a complaint to us, ideally in the subject line of the email.
13.2. In order to allow us to investigate your complaint promptly and effectively, you should provide the full details of the circumstances giving rise to your complaint. Where applicable you should provide details of the time, date and any relevant actual or purported order or trade information. Where applicable, you should also indicate any proposed resolutions to your complaint.
13.3. We reserve the right to not commence investigations until sufficient details are provided.
13.4. We will investigate the complaint promptly and fully, providing a written response to your complaint.
13.5. Within 15 business days of our receipt of the complaint we will provide you with a final response which will either:
13.5.1. Uphold the complaint and, where appropriate, propose a resolution to you; or
13.5.2. Reject the complaint and give our reasons for doing so.
13.6. Any offer of resolution made to you will become legally binding once it is accepted by you.
13.7. If we cannot provide you with a final response within 15 business days, we will provide you with a response within that 15 day period explaining that we are not in a position to make a final response within the timeframe, giving reasons for the delay and indication of a date when we expect to provide you with a final response.
14. Death of Account holder
14.1. Upon receiving information in the unfortunate event that a death occurs to a Customer, we will immediately restrict our Services through the account. Legal documentation reporting the death of the individual will be required from the Executor/Administrator and no further trades may be completed through the account, in any event. To authorise inheritance of assets from a Customer’s account, you will be required to provide any of the following via email to info@bcbitcoin.com:
14.1.1. Death Certificate of Customer;
14.1.2. Valid Original Customer Will;
14.1.3. Documentation in relation to the authorised Executor/Administrator of the Will;
14.1.4. Executor/Administrator has an active verified account; and
14.2. If there is no designated executor or trustee, we reserve the right to treat your executor as the individual or entity that is entitled to inherit the Customers estate, as deemed appropriate from a court order from a proficient jurisdiction.
14.3. We may retain a copy of any items disclosed as detailed in 14.1 above for auditing and reporting purposes.
15. Force Majeure
15.1. Force Majeure is defined as any cause or condition beyond reasonable control, including but not limited to any delay or failure due to any acts of God, civil or military authorities, terrorists, civil disturbance, war, strike or other industrial dispute, fire, change of law or change in sanctions policy, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond our reasonable control.
15.2. If we are unable to perform the Services due to factors beyond our control including but not limited to a circumstance of Force Majeure, we will not have any liability to you with respect to the Services provided under this Terms and for a period of time coinciding with the event.
16. Website Translation
16.1. We provide a translation of information on our website using Google Translate, intended for informational and guidance purposes only and may not accurately/identically represent our English translated definition. We will not be held liable for any inaccurate translation provided through this using this service on our platform however please do seek clarification from us at any time if any of the legal and privacy Terms on our Website are unclear.
17. Limitation of Liability
17.1. Cryptoassets are incredibly volatile assets which rely on various external variables that determine their value and very existence. This volatility creates additional risk for you when you trade in the cryptomarket. This clause aims to detail the circumstances in which we will not be liable for any losses, costs, expenses and detriments you may have suffered, subject to applicable laws and regulations.
17.2. To the extent permitted by law, we will not be liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss suffered by you, unless the loss suffered arises from negligence, wilful deceit or fraud on the Company’s part.
17.3. We are not liable to you where you suffer a loss, cost, or expense as a result of:
17.3.1. Any delay or change in market conditions before we execute an order or before a transaction settles;
17.3.2. Any delay or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, any cyber-attack or any phishing, spoofing or other attack. It is your responsibility to ensure the integrity of the device you use to access and use our Services; and
17.3.3. Any loss caused by theft, robbery, burglary or other criminal taking if a computer, computer system, computer software program, malicious code, computer virus or process or any other electronic system is used to perform such acts.
17.4. Subject to the foregoing, our aggregate liability in respect of claims based on events arising out of or in connection with any single trade, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed 100% of the amount of the transaction in question.
17.5. To the maximum extent permitted under the applicable laws of the Republic of Lithuania, BC Bitcoin Services are offered on an “as is” and “as available” basis, and the Company expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. Without limiting the foregoing, BC Bitcoin does not represent or warrant that the Website, the Services or the materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. BC Bitcoin does not guarantee that any order will be executed, accepted, recorded or remain open. Except for the express statements, agreements and rules set forth in these Terms, you hereby acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of BC Bitcoin Services. Without limiting the foregoing, you hereby understand and agree that BC Bitcoin will not be liable for any losses or damages arising out of or relating to:
17.5.1. Any inaccuracy, defect or omission of cryptoasset price data;
17.5.2. Any error or delay in the transmission of such data;
17.5.3. Interruption in any such data;
17.5.4. Regular or unscheduled maintenance carried out by BC Bitcoin and Service interruption and change resulting from such maintenance;
17.5.5. Any damages incurred by other customers’ actions, omissions or violation of these Terms;
17.5.6. Any damage caused by illegal actions of other third parties or actions without authorised by BC Bitcoin; and
17.5.7. Exemptions mentioned in disclaimers and platform rules issued by BC Bitcoin.
18. Indemnity
18.1. You agree to defend, hold harmless and hereby indemnify us and each of our directors, employees, agents and brokers (each an “Indemnified Party”) from and against any loss, damage, cost, claim, proceeding, penalty, fine or expense, including legal fees, incurred by or suffered by any Indemnified Party which arises out of, or relates to, directly or indirectly:
18.1.1. Your use of the Services;
18.1.2. Your failure to fully and timely perform any of your obligations in these Terms; and
18.1.3. Any of your representations or warranties made by you in these Terms being, at any time, falsely claimed, untrue or incorrect.
19. Intellectual Property
19.1. All copyright and other Intellectual Property Rights in all content and other materials contained on the Website or provided in connection with the Services, including, without limitation, BC Bitcoin logo and all data, software, designs, text, graphics, pictures, information, sound files, other files and the selection and arrangement are the exclusive property of BC Bitcoin and of our licensors, and are protected by copyright laws and treaties around the world. All rights are fully reserved.
19.2. You may not copy, imitate, or use our trading names or logos without our prior written consent.
19.3. You acknowledge that all rights, title and interest in and to the Services remain with the Company.
20. Accuracy of Website Information
20.1. We maintain the information provided on our Website regularly and proactively ensure the information is accurate and up to date. Though this is regularly reviewed, the content may not always be completely accurate and may also include inaccuracies or incorrect information outside our control.
21. Our Relationship
21.1. We act as an independent agent on your behalf, in all circumstances. Nothing in these Terms shall be deemed or is intended to be deemed, as an offer to establish a partnership, joint venture, employment or any other affiliation to any Customer.
22. Tax
22.1. It is your sole responsibility to determine and report any taxes payable from the transactions you conduct through our Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities in your jurisdiction.
23. Our Financial Crime Prevention Obligations
23.1. We do not tolerate any illegal or illicit activity from either our Customers or our own employees. BC Bitcoin’s paramount safety consideration is the prevention of financial crime including money laundering, terrorism financing, fraud or other acts punishable by law (Financial Crime Prevention Obligations).
23.2. We are required and may take any action to meet our Financial Crime Prevention Obligations. Such action may include but is not limited to:
23.2.1. Screening, intercepting and investigating any instruction or communication sent to or by you, or on your behalf; and/or
23.2.2. Investigating the source of funds/wealth and source of coins that you use to trade with us. At any point during our entire relationship with us we may ask you to provide us with information and documents relating to your source of funds/wealth and source of coins.
23.3. Exceptionally, our Financial Crime Prevention Obligations may lead to us:
23.3.1. delaying or refusing to either process an order or your instructions;
23.3.2. being unable to provide all or part of the Services to you and ending our entire relationship with you; and/or
23.3.3. blocking or closing your account without providing the reasons for doing so.
24. Permitted Jurisdictions and Access to our Services
24.1. Only the permanent residents of Permitted Jurisditions may use our Services and are eligible to apply for an account. Business customers should be incorporated and have main place of business activity in one of the Permitted Jurisditions.
24.2. We may revise the list of Permitted Jurisditions from time to time. We reserve the right to close the account and terminate business relationship with Customers who are no longer residents of Permitted Jurisditions.
24.3. If you change your jurisdiction of residence or main place of business activity or jurisdiction of incorporation, you should inform us before your next trade with us after changing your jurisdiction of residence or main place of business activity or jurisdiction of incorporation.
24.4. We reserve the right to restrict and (or) block access to our Services from certain jurisdictions and locations.
25. Severability
25.1. If for any reason any provision of these Terms is deemed invalid or unenforceable, that provision will be enforced to the maximum extent permissible, and the remaining provisions will remain in full force and effect.
26. Third Party websites and Links
26.1. Where our Website contains links to other websites and resources provided by third parties, these links are provided for your information only. We have no control over the contents of those websites or resources.
27. Jurisdiction
27.1. These Terms, along with our Privacy Policy, constitute the entire agreement between the Company and you, with respect to the service provision covered hereby and supersedes any previous written, oral or implied understandings between them with respect to such matters.
27. These Terms shall be governed and construed in accordance with the laws of Republic of Lithuania. The parties agree to irrevocably submit to the exclusive jurisdiction of the courts of Lithuanian Republic.
28. Amendments
28.1. We reserve the right to amend or change these Terms at any time by notifying you with the revised Terms and Conditions, considered to be effective upon the time of publishing. Such notification may be provided by email. Your continued use of Services shall constitute acceptance of any such amendments.
29. Contact us
29.1. If you have questions or concerns regarding these Terms, you should contact us. There are many ways you can contact Us, including by Phone, Email and our Online Chat, more details can be found here.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards