Service Agreement - Buying Cryptocurrencies

Last Updated: March 7, 2018

This Bitrush Buying Cryptocurrencies Agreement (“Agreement”) is a legal agreement between Crypto Solutions B.V. (“Bitrush”, “we” or “us”) and the entity or person (“you” or “your”) who does a buy order for a cryptocurrency, and other business services that may be offered by Bitrush (“Service”). This Agreement describes the terms and conditions that apply to your use of the Service.

If you do not understand any of the terms of this Agreement, please contact us before using the Service.

You may not use our Service unless you agree to abide by all of the terms and conditions of this Agreement.

1. Overview

This Agreement provides a general description of the service Bitrush may provide to you when buying cryptocurrencies from us.

2. General Information Regarding Cryptocurrency

Cryptocurrencies are digital goods that do not have a fixed value; you agree to the price that is determined by Bitrush at the moment of purchase. Due to the variable price of a cryptocurrency, the price may change at any moment. There is never any guarantee of a retained future value and there is no guarantee that you can sell the cryptocurrency back for the same price.

3. Customer Responsibilities

We urge you to be extra careful when dealing with cryptocurrency because transactions within the cryptocurrency world can't be undone. For example, entering a cryptocurrency address to which you can access yourself is very important; entering someone else's cryptocurrency address is entirely at your own risk.

a. Data Submission: It is your responsibility to ensure that you have entered the correct information (cryptocurrency address and amount). Bitrush is not liable and will deny responsibility for any damages, harm, or losses to you arising from you providing incorrect information about the payment. For example, if you send your Bitcoin's to an incorrect Bitcoin address, your money might be lost.

b. Cryptocurrency Storage: Securing the storage of your cryptocurrency device is entirely at your own risk.

4. Fees and Costs

When buying cryptocurrencies you agree with the fees that are included in the price. The fees included in the price are cryptocurrency miners-fee, third-party exchange fee, payment method fee, and Bitrush profit margin. Because of the fees, there may be (large) differences in the cryptocurrency price from Bitrush and other platforms.

5. Processing Transactions and Refunds

a. Refunds: Purchased cryptocurrencies cannot be refunded. You must make a sell order if you want to sell your cryptocurrencies back to fiat currency. In special cases, the amount will be refunded after deducting the costs incurred and the damage suffered by Bitrush as a result of exchange rate fluctuations.

b. Credit Card Transactions: Immediately after the payment has been completed, Bitrush will reserve the paid amount for 3 hours until you complete the verification process. If the verification process is not completed within 3 hours, the order will be canceled and the reserved amount voided.

c. Processing Errors: We reserve the right to cancel/suspend your order in the event that a bank or technical failure caused by third parties or other unforeseeable circumstances results in Bitrush not being able to complete your transaction in a timely manner.

6. Shipment and Delivery

We will deliver the cryptocurrency to the specified deposit address by means of a signed cryptocurrency transaction. During delivery, the amount of cryptocurrencies may differ from the amount of cryptocurrencies ordered by you. Bitrush is not liable and will deny responsibility for any damages, harm, or losses to you arising from delays in delivery.

7. KYC and AML Compliance

Bitrush uses multiple techniques to follow guidelines and provide Anti-Money Laundering (AML) measures and be in accordance with the Know Your Customer (KYC) regulations.

a. Verification: You are required to perform a one-time verification of email address, telephone number, and bank account number before your order can be processed. If necessary, Bitrush reserves the right to ask the customer for an additional identity verification.

b. Money Origin: You declare that the money you use for the payment has been legitimately obtained and that you are unaware of any potentially illegal activities regarding the origin of your money; if any doubts arise about the origin of the money or the payment amount is substantial enough, Bitrush reserves the right to request additional information.

c. Cooling-down Period: Bitrush makes use of a cooling-down period, which depends on your chosen payment method. The cooling-down period ensures that your payment is held for a period of 2 working days once a purchase limit has been reached. We reserve the right to send your payment prior to the previously specified cooling-down period, providing the legitimacy of the transaction has been verified.

8. Suspicion of Unauthorised or Illegal Use

In the event of suspected abuse, fraud or, illegal transactions, Bitrush reserves the right to suspend and/or cancel a transaction until the legitimacy of the transaction can be verified. Bitrush will report suspicious transactions to relevant authorities and will cooperate with police and other government agencies.

9. Service Limitations, Prohibited Activities

a. Compliance with Applicable Laws: You must use our Services in a lawful manner, and must obey all laws, rules, and regulations (“Laws”) applicable to your local region and Dutch law.

b. Tax Evasion: You declare that value stored in cryptocurrencies is not subject to tax evasion of any kind.

c. Prohibited Activities: You may not use our Services to facilitate transactions that are related to Gambling, or Adult Content.

d. Politically Exposed Persons: A PEP is a term describing someone who has been entrusted with a prominent public function. You may not use the Service when you are on a PEP list.

e. The Onion Router: You may not use our Services when trying to stay anonymous via the Tor network.

10. Use of Services by Minors.

You must be at least eighteen (18) years old or have permission from a parent or guardian to use our Service. Bitrush might contact you to get a confirmation from your parent or guardian.

11. Disclosures and Notices; Electronic Signature Consent

a. Consent to Electronic Disclosures and Notices: By agreeing with the terms of service, you agree that such action constitutes your electronic signature, and you consent to the electronic provision of all disclosures and notices from Bitrush (“Notices”), including those required by Law. You also agree that your electronic consent will have the same legal effect as a physical signature.

b. Methods of Delivery: You agree that Bitrush can provide Notices regarding the Services to you through our website, or by mailing Notices to your email. Notices may include notifications about your order, changes to the Services, or other information we are required to provide to you. You also agree that electronic delivery of a Notice has the same legal effect as if we provided you with a physical copy. We will consider a Notice to have been received by you within 24 hours of the time a Notice is either posted to our website or emailed to you.

c. SMS and Text Messages: You authorize us to provide Notices to you via text message to allow us to verify your payment (such as through two-step verification), and to provide you with other critical information about your order.

d. Requirements for Delivery: It should come as no surprise to you that you will need a computer or mobile device, Internet connectivity, and an updated browser to review the Notices provided to you. If you are having problems viewing or accessing any Notices, please contact us and we can find another means of delivery.

12. Dormant Transactions

You have a 1 month period to verify your payment after making a buy order. After this period, Bitrush reserves the right to refund this order for the current price Bitrush charges. Bitrush will not be responsible or liable for any damages resulted from the refund.

13. Service Support

We will provide you with support to resolve general issues relating to your use of the Bitrush service. This support includes resources and documentation that we make available to you through the current versions of Bitrush's support pages, and other pages on our website. The most efficient way to get answers to your questions is to review our FAQ. If you still have questions after reviewing the FAQ, please contact us.

14. Limitation of Liability

Under no circumstances will any Bitrush Entity be responsible or liable to you for any indirect, punitive, incidental, special, consequential, or exemplary damages resulting from your use or inability to use the Services or for the unavailability of the Services, for lost profits, personal injury, or property damage, or for any other damages arising out of, in connection with, or relating to this Agreement or your use of the Services, even if such damages are foreseeable, and whether or not you or the Bitrush Entities have been advised of the possibility of such damages. The Bitrush Entities are not liable, and deny responsibility for any damages, harm, or losses to you arising from or relating to hacking, tampering, or other unauthorized access or use of the Services, your Bitrush Affiliate Account, or Data, or any other data security measure. The Bitrush Entities further deny responsibility for all liability and damages to you or others caused by (a) any unauthorised access of servers, infrastructure, or Data used in connection with the Services; (b) interruptions or cessation of the Services; (c) any bugs, viruses, or other harmful code that may be transmitted to or through the Services; (d) any errors, inaccuracies, omissions, or losses in or to any Data provided to us; (e) third-party content provided by you; or (f) the defamatory, offensive, or illegal conduct of others.

You agree to limit any additional liability not disclaimed or denied by the Bitrush Entities under this Agreement to your direct and documented damages.

These limitations on our liability to you will apply regardless of the legal theory on which your claim is based, including contract, tort (including negligence), strict liability, or any other theory or basis.

15. Updates to this Agreement

We may change this Agreement. The “Last Updated” legend at the top of this Agreement indicates when this Agreement was last revised. Any changes are effective when we post the revised Agreement on our website.