Terms and conditions

1) Interpretation

1.1) In these conditions, the following definitions apply:

Business Day: a day other than a Saturday, Sunday or public holiday.

Contract: the contract between the Seller and the Customer for the purchase or sale of Cryptocurrencies in accordance with these Conditions and the Order.

Customer: the person set out in the Order.

Fees: the Transaction Fee set out in the Order.

Order: the Customer's order for the purchase of Cryptocurrencies as set out in the Purchase Order Form, or the Customer's order for the sale of Cryptocurrencies as agreed in accordance with clause 4.

Purchase Price: the fiat currency purchase price for Cryptocurrencies , as set out in the Purchase Order Form.

Sale Price: the fiat currency sale price for Cryptocurrencies, as set out in the Order form, or as agreed by the parties in accordance with clause 4.

Seller: BitSmart Capital Ltd,  registered in Bulgaria, member state of the European Union. Registered as a virtual asset service provider (VASP) to provide the following services: 1. Virtual Currency Exchange Services 2. Custodian Wallet Provider 

Transaction Report: the Seller's confirmation of transaction details.

1.2) In these Conditions, the following rules apply:

(a) a person includes a natural person, corporate or unincorporated body (whether or not having separate legal personality);

(b) the terms including, in particular or any similar expression are without limitation; and

(c) a reference to writing or written includes faxes and e-mails and text messages

2) Basis of Contract

2.1) The Order set out in the Purchase Order Form constitutes an offer by the Customer to purchase Cryptocurrencies in accordance with these Conditions. The Seller shall notify the Customer of the amount of Cryptocurrencies it offers for the Purchase Price, having regard to any deductions made in respect of Fees.

2.2) The Order set out in the Purchase Order Form shall only be deemed to be accepted when the Seller issues a Transaction Report, at which point and on which date the Contract shall take effect.

2.3) The Contract constitutes the entire agreement between the parties. The Customer acknowledges that it has not relied on any statement, promise or representation made or given by or on behalf of the Seller which is not set out in the Contract.

2.4) Any advertising materials or statements issued by the Seller, and any descriptions or illustrations they contain, shall not form part of the Contract or have any contractual force.

2.5) The Contract applies to the exclusion of any other terms that the Customer seeks to impose or incorporate, or which are implied by trade, custom, practice or course of dealing.

3) Risk Warning

3.1) The value of Cryptocurrencies may fall as well as rise and past performance is no guide to future growth. Changes in currency exchange rates may affect the value of Cryptocurrencies.

3.2) The Customer warrants that it is aware of the potential risks and makes decisions based on its own knowledge, risk profile and experience. The Seller should not be relied upon as extending any implied or explicit guarantee of return. Cryptocurrencies should be regarded as carrying a high risk.

3.3) This document must not be reproduced in any form without the express permission of the Seller. No responsibility is accepted by the Seller for any action taken or not taken by persons as a result of this document.

4) Buying and Selling Cryptocurrencies

4.1) The Seller shall supply Cryptocurrencies to the Customer in accordance with this Contract in all material respects.

4.2) The Seller shall have the right to make any changes to this Contract which are necessary to comply with any applicable law or safety requirement and the Seller shall notify the Customer in any such event. Deposits and withdrawals may take longer than expected if further source of funds or customer identification documents are required in accordance with our policies from time to time.

4.3) The Customer may request to sell Cryptocurrencies to the Seller at any time. Any requests must be made in writing. On receipt of such request, the Seller will suggest a Sale Price to the Customer, which shall remain valid for 10 minutes. If the Customer notifies the Seller in writing that it is willing to sell Cryptocurrencies to the Seller at the Sale Price, such notice shall constitute an offer of the Customer to the Seller to sell Cryptocurrencies to the Seller at the Sale Price. Such offer shall only be accepted by the Seller on written confirmation of the Seller. Payment by the seller to the customer shall constitute written confirmation that the seller has accepted the customer’s offer.

5) Customer Obligations

5.1) The Customer Shall:

(a) ensure that the terms of any Order are complete and accurate and provide the Seller with such information and materials as the Seller may reasonably require in order to sell or buy Cryptocurrencies;

(b) cooperate with the Seller in all matters relating to the purchase or sale of

Cryptocurrencies

c)  must verify their account successfully within 30 days of either completing any surveys or registering with the website, whichever comes first, to retain any free cryptocurrencies credited to their account. Successful verification involves:

1.Passing identity verification processes.

2. Passing checks conducted by our Anti-Money Laundering (AML) compliance team.

BitSmart Capital Ltd reserves the right to withdraw any such cryptocurrencies without prior notice if the account remains unverified or fails verification. Users will forfeit any free cryptocurrencies credited to their account if they do not complete the verification process within the specified timeframe.  If an account remains unverified for more than 30 days, any cryptocurrencies displayed in the account will be shown for informational purposes only and will not be available for transactions or withdrawals. 

d) BitSmart  Capital Ltd reserves the right, at our sole discretion, to refuse to open an account for you.

(5.2) The Customer acknowledges that where the Seller is required to verify the Customer's identity in accordance with the Money Laundering Requirements, BitSmart  Capital Ltd reserves the right not to undertake any transaction, or accept any funds until such verification has been obtained to the Seller's satisfaction in its sole discretion. 

5.3) If the Seller's performance of any of its obligations under the Contract is prevented or delayed by any act or omission by the Customer or failure by the Customer to perform any relevant obligation (Customer Default):

(a) the Seller shall not be liable for any costs or losses sustained or incurred by the Customer arising directly or indirectly from the Customer's failure or delay to perform any of its obligations under this Contract.

6) Transaction Fees and Payments

6.1) Transaction Fees are charged at 2.9% of the Purchase amount and Sale amount. By way of example, when buying Cryptocurrency from the company, an order with a Purchase amount of €1,000 will result in an order being placed for €971 worth of Cryptocurrency after deduction of Transaction Fees. When selling Cryptocurrency to the company, if the Sale amount is €1,000, the Transaction Fee of €29 will be deducted from the sale proceeds resulting in a net return of funds to the Customer of €971 on completion of the sale.

6.2) The Seller shall invoice the Customer for the Purchase amount and any Fees.

6.3) The Customer shall pay each invoice submitted by the Seller in advance of the provision of any Cryptocurrency.

6.4) The price of Cryptocurrencies is subject to large and unpredictable fluctuations. The Seller shall endeavour to fulfil Orders within 10 working days; however during busy periods this may take longer. When selling Cryptocurrencies, funds will be returned to the Customer via bank transfer to the same bank account that was used to make the original purchase. The Seller is excluded from any claims of liability, including the loss of profit, which may arise as a result of delays.

6.5) The Customer shall pay all amounts due under the Contract in full without any deduction or withholding except as required by law and the Customer shall not be entitled to assert any credit, set-off or counterclaim against the Seller in order to justify withholding payment of any such amount in whole or in part. The Seller may, without limiting its other rights or remedies, set off any amount owing to it by the Customer against any amount payable by the Seller to the Customer.

7) Confidentiality

This Contract and any related dealings between the Seller and the Customer shall remain confidential.

8) Limitation of Liability

8.1) Nothing in these Conditions shall limit or exclude the Seller's liability for:

(a) death or personal injury caused by its negligence, or the negligence of its employees, agents or subcontractors;

(b) fraud or fraudulent misrepresentation; or

(c) statutory liability not capable of limitation.

8.2) Subject to clause 8.1:

(a) the Seller shall under no circumstances whatever be liable to the Customer, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, for any loss of profit, or any indirect or consequential loss arising under or in connection with the Contract; and

(b) the Seller's total liability to the Customer in respect of all other losses arising under or in connection with the Contract, whether in contract, tort (including negligence), breach of statutory duty, or otherwise, shall in no circumstances exceed the amount of Fees actually received by the Seller under this Contract.

8.3) Except as set out in these Conditions, all warranties, conditions and other terms implied by statute or common law are, to the fullest extent permitted by law, excluded from the Contract.

8.4) This clause 8 shall survive termination of the contract

9) Termination

9.1) This Contract is terminable by either party on 14 days written notice to the other.

9.2) On termination of the Contract for any reason:

(a) the accrued rights, remedies, obligations and liabilities of the parties as at expiry or termination shall not be affected, including the right to claim damages in respect of any breach of the Contract which existed at or before the date of termination or expiry; and

(b) clauses which expressly or by implication have effect after termination shall continue in full force and effect.

10) General

10.1) Force majeure:

(a) For the purposes of this Contract, Force Majeure Event means an event beyond the reasonable control of the Seller including but not limited to the operation of the Cryptocurrency networks, strikes, lock-outs, or other industrial disputes (whether involving the workforce of the Seller or any other party), failure of a utility service or transport network, pandemic related restrictions, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or default of Seller's or subcontractors. 

(b) The Seller shall not be liable to the Customer as a result of any delay or failure to perform its obligations under this Contract as a result of a Force Majeure Event.

(c) If the Force Majeure Event prevents the Seller from complying with its obligations for more than 30 weeks, the Seller shall, without limiting its other rights or remedies, have the right to terminate this Contract immediately by giving written notice to the Customer.

10.2) Severance

(a) If a court or any other competent authority finds that any provision of the Contract (or part of any provision) is invalid, illegal or unenforceable, that provision or part provision shall, to the extent required, be deemed deleted, and the validity and enforceability of the other provisions of the Contract shall not be affected.

(b) If any invalid, unenforceable or illegal provision of the Contract would be valid, enforceable and legal if some part of it were deleted, the provision shall apply with the minimum modification necessary to make it legal, valid and enforceable.

10.3) Third parties: A person who is not a party to the Contract shall not have any rights under or in connection with it.

10.4) Governing law and jurisdiction: This Contract, and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non contractual disputes or claims), shall be governed by, and construed in accordance with, English law, and the parties irrevocably submit to the exclusive jurisdiction of the courts of England and Wales.