Service Agreement - Selling Cryptocurrencies

Last Updated: March 7, 2018

This Bitrush Selling 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 sell 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 selling cryptocurrencies to 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 the sale. 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 buy 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, amount and IBAN). 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.

b. Timeframe: The payment must be sent to the cryptocurrency address specified by Bitrush within 15 minutes of receipt of the offer. If not, the cryptocurrency will be returned and payment will not take place.

c. Miners-fee: Bitrush can only execute the payment upon receipt of the full cryptocurrency amount specified and the cryptocurrency transaction(s) needs at least 1 confirmation by the cryptocurrency network. You should make sure that you pay sufficient miners-fee so that the transaction(s) are confirmed within a 2-hour timeframe.

4. Fees and Costs

When selling 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, payout 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, Refunds, Reversals

a. Refunds: Bitrush reserves the right to refund your order in special cases. For example, scenario's outlined in section 3.b and 3.c. However, refunds can only take place when Bitrush receives the transaction 2 months after an order is placed. After these 2 months Bitrush is unable to link incoming transactions to earlier placed orders and thus Bitrush cannot be held accountable for the eventual loss of your cryptocurrency. It is your own responsibility to sent the transaction with a sufficient amount of miners-fee to Bitrush.

b. 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. Processing Payouts

We will process SEPA payouts every working day on 12:00 CET from our ING bank account. SEPA transactions may take 1 additional day to process depending on the type of bank your using.

7. KYC and AML Compliance

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

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.

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. 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.

13. 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.

14. 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.