BitcoinX Terms of Services
PLEASE READ THESE TERMS CAREFULLY BEFORE PURCHASING OR SELLING ANY VIRTUAL CURRENCY VIA ANY OF OUR AUTOMATED VIRTUAL CURRENCY KIOSKS (“Kiosks”). THESE TERMS AND ALL DOCUMENTS INCORPORATED HEREIN (COLLECTIVELY THE “Agreement”) SET FORTH A BINDING CONTRACT. IF YOU DO NOT AGREE TO THIS AGREEMENT’S TERMS, INCLUDING THIS AGREEMENT’S BINDING ARBITRATION REQUIREMENTS, DO NOT PURCHASE OR SELL VIRTUAL CURRENCY VIA ANY BITCOINX KIOSK.
National Digital Systems, LLC, a Florida limited liability BitcoinX, doing business as BitcoinX, (“BitcoinX”, and/or “us” or “we”) facilitates the buying and selling of certain virtual currencies (the “Services”) through our Kiosks. Your access and use of our Kiosks, Services and our Website [Bitcoinxatm.com] are all subject to and governed by the terms and conditions of this Agreement. Under this Agreement, each Customer of the Services is a “Customer” and/or “you”.
By clicking “I ACCEPT, or by your use of any aspect of the Services, you acknowledge reading this Agreement and your agreement to all its terms and conditions. You acknowledge that your electronic consent has the same legal effect and enforceability as would your handwritten signature, and you agree that all communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.
If you choose “I ACCEPT”, please visit www.bitcoinxatm.com (the “Website”) and print or download a copy of this Agreement for your file or records. You may also request a copy of this Agreement by writing us via email to or by writing to us at firstname.lastname@example.org. If you DO NOT AGREE to be bound by the Agreement, please click “DECLINE.” You will not be able to access the Services unless you agree to the terms of this Agreement.
This Agreement is the binding and enforceable contract between you and BitcoinX governing all Services. It’s terms address, among other things, information about how we provide the Services and how we handle disputes (which are handled by binding arbitration in most cases). This Agreement also highlights certain risks of using the Services. BitcoinX, in its sole and absolute discretion, may make changes or modifications to the Agreement from time to time, and will post any such changes on the Website. Please review the Agreement carefully prior to every transaction you make, in the event that we have made changes to this Agreement since you last used the Services. You understand and agree that you will be deemed to have accepted the terms of an amended Agreement, if any, by your subsequent use of the Services after the updated Agreement is posted.
By using the Services, you acknowledge and affirm that (1) you voluntarily and willfully, without force or coercion, agree to use the Services; (2) you are at least eighteen (18) years of age; (3) you have the legal capacity to enter a contract in the jurisdiction where you reside; and (4) you are a resident of the United States of America. Further, by using the Services you affirm and represent to us that (a) you have not previously been suspended or removed from using BitcoinX Services; (b) you are not under the control of, or a national or resident of, any country to which the United States has embargoed goods or BitcoinX Services; (c) you have not been identified as a “Specially Designated National” by the U.S. Office of Foreign Assets Control; and (d) have not been placed on the U.S. Department of Commerce’s Denied Persons List. Unless all the foregoing representations are true and correct as to you, do not use the BitcoinX Services.
Our Relationship with You
BitcoinX is a registered Money Services Business and, depending upon the requirements of applicable state law, may be licensed as a money transmitter. BitcoinX agrees to sell specified virtual digital currency to you and buy specified digital currency from you in exchange for United States Dollars (“USD”), solely pursuant to the terms of this Agreement. If you violate any portion of the Agreement, we have the right to refuse your transaction and to prohibit you from using the BitcoinX Services indefinitely without reason or explanation.
BitcoinX and its subsidiaries, affiliates, officers, members, employees, agents, attorneys, partners, and representatives (“Affiliates”) make no representation or warranty that the Services may be lawfully used by you in any specific location or at all times. When you use or access the Services, you are solely responsible for compliance with the laws and regulations of your jurisdiction. You are solely responsible for the information you input at a Kiosk. You warrant you have the right and authorization to input or upload all such information, that all such information is current and accurate, and will be kept up-to-date. In utilizing the Services, you represent and warrant that you are acting only on your own behalf and that you are not acting as a representative, agent or fiduciary of any other person or entity.
Nothing in this Agreement is intended to create or will be construed as creating a joint venture, partnership, employer/employee or principal and agent relationship by and between Customers and BitcoinX.
Access to Services.
You agree not to access, or attempt to access, the Service for any unlawful purpose or by any means other than through the normal functionality of one of our Kiosks. BitcoinX’s Kiosks supports the buying and selling of specified virtual digital currencies of the types that BitcoinX selects in its sole discretion, hereafter the “Supported Cryptocurrencies”, which Supported Cryptocurrencies may change from time to time without notice. BitcoinX does not represent or warrant that all of its Supported Cryptocurrencies will be available at all times for purchase or sale at all of its Kiosks, or that sufficient USD will be available at all times at a Kiosk to consummate a transaction in amount(s) as you may desire; and thus, BitcoinX reserves the right decline to complete or consummate a transaction in whole in part as BitcoinX’s circumstances at a Kiosk may require.
You acknowledge and agree that BitcoinX has no obligation to make the Services available to you or to continue to offer the Services in any particular manner or at any particular location, that your access to the Services may not be continuous, and that features of the Services may change during your use of the Services. BITCOINX RESERVES THE RIGHT TO DENY, RESTRICT OR TERMINATE YOUR ACCESS TO THE SERVICES AT ANY TIME AND IN ITS SOLE AND ABSOLUTE DISCRETION. YOU ACKNOWLEDGE AND AGREE THAT BITCOINX MAY STOP PROVIDING ANY ASPECT OF THE SERVICES TO YOU AT ANY TIME WITHOUT PRIOR NOTICE, FOR ANY REASON OR NO REASON, INCLUDING, WITHOUT LIMITATION, IF THE BITCOINX DEEMS THAT YOUR USE IS INAPPROPRIATE, CONTRARY TO THE REPUTATIONAL INTEREST OF BITCOINX OR IN VIOLATION OF APPLICABLE LAW OR THESE TERMS.
You agree that you will not, in connection with your use of the Services, violate any applicable law, ordinance, rule, regulation or treaty. Without limiting the generality of the foregoing, you agree that you will not: (A) institute, assist or become involved in any type of attack including, without limitation, Denial of Service attacks, upon the Services (or any servers, systems or networks connected to the Services) or otherwise attempt to obstruct, disrupt or interfere with the operation of the Services or any other person’s use of the Services; (B) attempt to gain unauthorized access to the Services or any servers, systems or networks connected to the Services; or (C) make any false, misleading or deceptive statement or representation regarding BitcoinX or the Services.
Use of Kiosks
You agree to pay to us a fee as compensation for your use of the Services as disclosed later in this Agreement.
At the beginning of a Customer’s access, the Kiosk will display the current Supported Cryptocurrencies and the prices at which we offer to buy or sell each specified unit of the Supported Cryptocurrency (for each the current “Transaction Price”). The Transaction Price(s) is set by us in our sole and absolute discretion and is not negotiable. If you are not satisfied with the Transaction Price being offered by BitcoinX for any transaction you propose, then you must not complete the transaction. Transaction Prices for all Supported Cryptocurrencies are subject to change at any time. Please carefully verify the information provided at the Kiosks at the time of each transaction to ensure your understanding of the Supported Cryptocurrencies and any applicable pricing for the same. Completion of some transactions may take time, and delays may be encountered, which in some instances may be hours or longer, often due to functionality issues of a cryptocurrency’s blockchain network(s) or our satisfaction of regulatory compliance protocol. By using these Services, you acknowledge and understand that delays in settling a transaction may occur and agree that neither BitcoinX nor any of its Affiliates shall be liable to you for any transaction delays or damages or losses caused by delay, regardless of cause.
You must provide all information requested by BitcoinX through the Kiosk in connection with any requested transaction. You are solely responsible for the accuracy of all information you input in connection with the Services and you agree that we may rely on information you submit without need of any additional examination or verification. In accordance with the laws of the United States and under the terms of this Agreement, BitcoinX cannot and will not settle a Customer’s transaction, or forward the proceeds from any Customer sale or purchase transaction, to any third-party.
When you place an order for a transaction you will be able to view the Transaction Price at which BitcoinX will purchase or sell Supported Cryptocurrency and any additional fee(s), such as the Verification Fee discussed below. In addition, for sale transactions where you offer to sell cryptocurrency to us by you to us only, the expiration time we have established for the subject sale transaction, which is the deadline by which the cryptocurrency you intend to sell to BitcoinX must be received by BitcoinX or its designated agent. For such sale transactions only, you will be shown the offer terms, including the Transaction Price, that also contains a QR code with BitcoinX’s virtual currency payment address, and a cash redemption code that is activated subject to fulfillment of the conditions set forth in this Agreement.
In order to accept BitcoinX’s offer to purchase or sell cryptocurrency, you must satisfy any terms and conditions stated in the offer terms, including without limitation, by fulfilling the requirements outlined herein:
(a) Purchase Order Completion – To complete your purchase of Supported Cryptocurrency from BitcoinX in accordance with the applicable offer terms, you must insert cash (USD) into the Kiosk to pay BitcoinX in an amount as BitcoinX shall calculate and disclose, whereupon BitcoinX will send the amount of virtual currency calculated by the Transaction Price specified in the offer terms to the cryptocurrency wallet address you provide within a reasonable timeframe; however, we cannot guarantee that the Supported Cryptocurrency will be transmitted to your address within any specific timeframe.
(b) Sale Order Completion – To complete your sale of cryptocurrency to BitcoinX in accordance with the applicable offer terms, the following must occur: (i) you must send Supported Cryptocurrency to the virtual currency address or wallet address designated in the offer terms (“Payment Address”), and (ii) BitcoinX or its designated agent, must confirm its receipt of such virtual currency before the offer’s expiration time provided in the offer’s terms. If the foregoing steps are successfully completed, all other offer terms are satisfied and you are in compliance with this Agreement, then you will be provided USD by the agent location in the amount specified in the offer terms or the Kiosk will disburse cash in the amount of USD specified in the offer terms when you send the required Supported Cryptocurrency to the BitcoinX QR code displayed at the Kiosk.
If you do not fulfill all requirements as outlined in the applicable offer terms, BitcoinX will not be bound by such offer terms and the original offer will be cancelled. If you send an incorrect amount or type of cryptocurrency to the Payment Address, this constitutes a new offer to BitcoinX, superseding the existing offer terms; and BitcoinX in its sole discretion may either cancel the order and return all the cryptocurrency that you sent in the form of a paper wallet or back to the original address you sent the cryptocurrency from, net of any network charges, if applicable, and Verification Fee, or accept your new offer as follows: (i) if you send more virtual currency to the Payment Address than specified in the offer’s terms, BitcoinX will honor the offer terms and disburse the excess amount of virtual currency to the address from which you originally sent the cryptocurrency from, net of any network charges, if any, and Verficiation Fees; or (ii) if you send less virtual currency to the Payment Address than was specified in the offer’s terms, BitcoinX will round down your offer as necessary to the closest entry in the then-current rate table and disburse the excess amount of virtual currency to the address from which you originally sent the cryptocurrency from, net of any network charges, if any, and Verification Fees. If your sales order is cancelled for any reason and you have submitted virtual currency to BitcoinX, your virtual currency will be returned (net of any network and transaction fees) to the address from which you originally sent the bitcoin from; however, we cannot guarantee that the virtual currency will be transmitted to your address within any specific timeframe. If your purchase order is cancelled and you have inserted USD into the Kiosk, your USD will be returned, however you must contact support via email at email@example.com immediately. You are responsible for remaining physically present at the Kiosk to receive any cash, receipts, or paper wallets, or to input any required information. BitcoinX has the right and option to mail U.S. funds to the address listed on the customers valid photo ID. BitcoinX is not responsible for your failure to receive any USD or virtual currency returned or disbursed in accordance with these terms.
Upon completion of a purchase transaction, you will either be provided with a paper wallet containing your Supported Cryptocurrency or the Supported Cryptocurrency will be transferred to your designated virtual currency address, and you will receive to the phone number you provided a SMS text message that contains the offer’s terms and actual amount of virtual currency purchased from BitcoinX. Upon your placement of a sales order, you will be provided with a QR code on the Kiosk screen as mentioned above which contains the BitcoinX wallet address to send the bitcoin you wish to sell. After BitcoinX has received your virtual currency, and after BitcoinX has dispensed USD to you via one of our Kiosks, you will be provided with a SMS text to your phone number that contains the offer terms and the amount of USD dispensed to you. All transactions will be confirmed in the order in which they were submitted. Upon confirmation, an e-mail or text message will be sent to the Customer.
We may, at our sole discretion, impose monetary and transaction limits on the amount of Supported Cryptocurrency you can buy or sell through the BitcoinX Services. BitcoinX reserves the right to unilaterally amend existing restrictions or implement new transaction restrictions without notice at any time.
An estimated total price is displayed at the time a Customer’s purchase transaction is requested. However, the Transaction Price, at the time a transaction is ultimately accepted by BitcoinX at a Kiosk, following Customer’s completion of his or her obligations under this Agreement, may be subject to change in our sole discretion. After a Customer initiates sale or purchase transaction at a Kiosk, should the Customer abandon the transaction before completion or otherwise fails to complete Customer’s obligations to complete the transaction, then the Customer shall be liable for cancellation fees as described in this Agreement, subject to BitcoinX’s discretion.
A price will be displayed via the Kiosk at the time a Customer’s sale transaction is requested. The price at the time a transaction is submitted will be locked in, regardless of market fluctuations. Customer acknowledges that BitcoinX will not be liable for any potential losses incurred due to market fluctuations during this period.
Under no circumstance will BitcoinX be responsible for, or liable to pay Customer for, changes in the underlying market price. BitcoinX will use commercially reasonable efforts to process transactions near real-time. Nonetheless, processing and settlement for Customer’s sale transactions may, on occasion, take up to two (2) business days.
WARNING: THE BITCOINX IS NOT RESPONSIBLE FOR CUSTOMER INPUT ERROR PERTAINING TO KIOSK TRANSACTIONS. THIS INCLUDES INPUTTING THE WRONG RECEIVING WALLET ADDRESS AS SUBMITTED BY YOU. PLEASE USE THE QR CODE SCANNER AND MAKE SURE YOU SCAN THE CORRECT ADDRESS WALLET TO WHERE YOU WOULD LIKE YOUR CRYPTOCURRENCIES SENT.
WARNING: AFTER SETTLEMENT OF A TRANSACTION IN WHICH YOU PURCHASED A SUPPORTED CRYPTOCURRENCY, YOU ARE SOLELY RESPONSIBLE FOR THE SAFEKEEPING AND SECURITY OF YOUR WALLET. IF YOU CHOOSE TO HAVE YOUR NEWLY PURCHASED CRYPTOCURRENCIES LOADED ONTO A PRINTED, PAPER WALLET, YOU MUST NOT THROW AWAY OR LOSE THE PAPER WALLET BEFORE SCANNING AND TRANSFERRING THE NEWLY PURCHASED CRYPTOCURRENCIES TO ANOTHER WALLET, OR YOU MAY LOSE ANY/ALL CRYPTOCURRENCIES STORED ON THE PAPER WALLET. BITCOINX WILL NOT REPAY YOU IF YOU LOSE OR THROW AWAY YOUR PAPER WALLET.
You agree to pay to us a Verification Fee for your use of the Services. BitcoinX charges a Verification Fee for each transaction completed at a Kiosks in consideration of its due diligence obligations required by applicable law, including the Bank Secrecy Act’s Know Your Customer (KYC) obligations. The Verification Fee will never be greater than $2.00 and is non-refundable. You acknowledge the existence of the Verification Fee and agree that the fee is not refundable under any circumstance. BitcoinX, in its sole discretion, may elect to waive the assessment of a Verification Fee in cases where a returning or repeat Customer.
The Kiosks will display the Verification Fee and the applicable price(s) that BitcoinX is offering to buy or sell Supported Cryptocurrencies at the time you access the Services. If those transaction fees are not viewable by you and agreeable to you, you agree not to make any transaction through the Services.
A cancellation fee may be charged to a Customer as permitted under this Agreement. The amount of the cancellation fees shall be calculated by BitcoinX to cover BitcoinX’s cost of cure to restore itself to its pre-transaction position, which shall include the market fluctuation of the subject cryptocurrency at the Transaction Price at the time Customer’s termination of the transaction is recognized and accepted by BitcoinX (market loss, if any, as determined by BitcoinX), plus an administration charge of five percent (5%) of the principal amount of the transaction-to-be-cancelled or Twenty Dollars ($20.00) whichever is greater. less. For the sake of clarity, BitcoinX discloses it determines the market loss component of the cancellation fee based on whether there has been a loss in market value from the time the price is confirmed for a submitted transaction to the time a transaction is recognized as being cancelled. In the event of market gain for the subject Supported Cryptocurrency, no market loss will be added by BitcoinX to cancellation fee chargeable to Customer.
Information Collected and Privacy
To help the government fight the funding of terrorism and money laundering activities, Federal law requires us to obtain, verify and record certain information before a transaction may be initiated. This means that we will ask you for certain personally identifiable information that will allow us to identify you in compliance with the USA PATRIOT Act and as part of our Bank Secrecy Act (“BSA”) Compliance Program. BitcoinX may undertake certain monitoring or reporting of suspicious activity directed by the BSA Compliance Program. BitcoinX will also share information and/or cooperate with law enforcement or other governmental authorities when necessary. Any information supplied by you and collected by us shall be subject to these Terms. For additional information on how this information will be treated, please see the section entitled “DISCLAIMER OF WARRANTIES” below.
You authorize BitcoinX, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information, requiring you to provide a taxpayer identification number, requiring you to take steps to confirm ownership of your email address or financial instruments, or verifying your Information against third party databases or through other sources. Prior to your use of the BitcoinX Services, you must provide all information requested by BitcoinX at the Kiosk location, by a BitcoinX representative if contacted and/or the Website, which may include, but not be limited to: name, physical address, date of birth, tax identification number, driver’s license, or other government-issued picture ID (“Personal Information”). You acknowledge that BitcoinX, or one of its agents or employees or Kiosks, will analyze and validate your identity by reference to the Personal Information to determine whether you qualify to use the BitcoinX Services (“Verification Process”). Your use of the BitcoinX Services may be delayed during the Verification Process, and BitcoinX disclaims responsibility for any loss, delay or other harm relating thereto. As may be determined by BitcoinX in its sole discretion, if we determine that you do not pass our Verification Process or if you fail to provide any of the information required to access the BitcoinX Services, then you will be denied access to the BitcoinX Services. If you believe your access to the BitcoinX Services has been incorrectly denied, please contact us at firstname.lastname@example.org.
You understand and consent that Personal Information furnished by you to BitcoinX shall be retained by BitcoinX. For future additional transactions you may initiate at one of our Kiosks, you consent that BitcoinX may consult such Personal Information for any purpose deemed appropriate by BitcoinX. At all time you must (a) provide only accurate, truthful and current information when using one of our Kiosks; (b) not share your Personal Information with others in connection with the Services; and (c) promptly notify us if you discover or otherwise suspect any security breaches or misuse.
General Disclosures & Warnings Regarding Cryptocurrencies
Buying, selling and holding cryptocurrencies is highly risky and speculative. The price and value of cryptocurrencies, including Supported Cryptocurrency, historically has fluctuated greatly and is likely to materially fluctuate in the future. The purchase and sale of digital currency provides no guarantee of interest, yield or return. Losses may be incurred both as a result of price devaluation and in the event price gains do not exceed applicable fees, including those charged by BitcoinX for the Services. Past performance is not a guide to future performance, future returns or appreciation are not guaranteed, and a loss of all original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments.
This Agreement, and the Services offered pursuant thereto, is not a recommendation by BitcoinX or its Affiliates concerning any cryptocurrency transaction. Any information provided by the BitcoinX is not an offer to sell or the solicitation of an offer to buy any security or cryptocurrency in any jurisdiction where such an offer or solicitation would be illegal.
You are solely responsible for deciding whether the Services is suitable for your own purposes and whether the Services matches your needs. You should carefully consider whether trading or holding cryptocurrencies is an appropriate financial decision for you. In all matters respecting the Services, you should seek independent professional advice, including tax or legal advice. BitcoinX has not offered, given and will not provide, any investment advice in connection with any Customer purchase or sale transaction. BitcoinX has not offered or given, nor will give, any opinion with respect to the suitability of any transaction made or which might be made by the Customer.
You acknowledge and agree that BitcoinX is not providing any legal, financial, investment or accounting recommendations or advice; and further that BitcoinX will not be liable to you for any decisions you have made in conjunction with your use or access to the Services. We and our Affiliates, from time to time, may own or hold, or have long or short positions in, act as a principal in, and buy or sell, cryptocurrencies referred to in this Agreement.
The Customer has read these disclosures and acknowledges that all risks associated with cryptocurrencies, including the risk of sudden and/or material decline in market value, and accordingly accepts and individually now assumes all such risks. If the Customer has any questions or doubt as to the suitability of digital currency as an investment or a store of value, the Customer must contact an independent legal or financial advisor of their own choosing.
DISCLAIMER OF WARRANTIES
YOU UNDERSTAND AND AGREE THAT THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, EITHER EXPRESS OR IMPLIED, AND THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK. BITCOINX MAKES NO WARRANTIES ABOUT THE ACCURACY, RELIABILITY, COMPLETENESS OR TIMELINESS OF ANY MATERIALS, INFORMATION OR DATA AVAILABLE THROUGH, OR THE PERFORMANCE OF, THE SERVICES OR ANY CONTENT ACCESSED THROUGH THE KIOSKS.
TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, BITCOINX DISCLAIMS ALL WARRANTIES, WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE WARRANTY OF MERCHANTABILITY, FITNESS FOR PARTICULAR PURPOSE AND NON-INFRINGEMENT, AND THOSE ARISING FROM COURSE OF DEALING OR USAGE OF TRADE.
Because some states or jurisdictions do not allow the disclaimer of implied warranties, certain of the foregoing disclaimers of certain implied may not be binding upon you.
LIMITATION OF LIABILITY
IN ADDITION TO ANY LIMITATION OF LIABILITY SET FORTH HEREIN, TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, YOU HEREBY ACKNOWLEDGE AND AGREE THAT NEITHER BITCOINX NOR ITS AFFILIATES SHALL BE LIABLE TO YOU UNDER ANY CONTRACT, TORT (INCLUDING NEGLIGENCE OR FRAUD), STRICT LIABILITY OR OTHER LEGAL OR EQUITABLE THEORY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, PUNITIVE, EXEMPLARY OR ANY OTHER DAMAGES, INCLUDING BUT NOT LIMITED TO LOST PROFITS OR OPPORTUNITY DAMAGES, THE COST OF PROCUREMENT OF SUBSTITUTE GOODS, SERVICES OR TECHNOLOGY, AND DAMAGES ARISING FROM ERRORS, OMISSIONS, INTERRUPTIONS, DEFECTS, DELAYS, COMPUTER VIRUSES, MARKET PRICE CHANGES, LOSS OF DATA, UNAUTHORIZED ACCESS TO AND ALTERATION OF TRANSMISSIONS AND DATA, BODILY INJURY, DEATH, EMOTIONAL DISTRESS AND OTHER TANGIBLE AND INTANGIBLE LOSSES, RELATING TO OR RESULTING FROM YOUR USE OR INABILITY TO USE OR ACCESS THE SERVICES OR FROM ANY ACTIONS BITCOINX TAKES OR FAILS TO TAKE, WHETHER OR NOT BITCOINX IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. WITHOUT LIMITING THE FOREGOING, IN NO CASE SHALL THE LIABILITY OF BITCOINX OR ANY OF ITS AFFILIATES EXCEED THE AMOUNT, IF ANY, PAID BY YOU FOR THE SERVICES.
Because some states or jurisdictions do not allow the exclusion or the limitation of liability for consequential or incidental damages, in such states or jurisdictions, the liability of BitcoinX and its Affiliates shall be limited to the fullest extent permitted by law.
IF YOU CAUSE A TECHNICAL DISRUPTION TO THE SERVICES, YOU AGREE THAT YOU SHALL BE RESPONSIBLE TO BITCOINX FOR ANY AND ALL LIABILITIES, COSTS AND EXPENSES (INCLUDING REASONABLE ATTORNEY’S FEES) ARISING FROM THAT DISRUPTION. YOU HEREBY AGREE TO DEFEND, INDEMNIFY, AND HOLD BITCOINX AND ITS AFFILIATES HARMLESS FROM AND AGAINST ANY LOSS, LIABILITY, CLAIM, ACTION, OR DEMAND, INCLUDING WITHOUT LIMITATION REASONABLE LEGAL AND ACCOUNTING FEES, RESULTING FROM OR ARISING OUT OF (A) YOUR USE OF THE SERVICES; (B) ANY MATERIAL YOU PROVIDE TO THE SERVICES, OR (C) YOUR BREACH OF THIS AGREEMENT OR ANY OTHER POLICIES THAT BITCOINX MAY ISSUE FOR THE SERVICES FROM TIME TO TIME. IN THE EVENT ONE OR MORE THIRD-PARTIES SHOULD BRING A CLAIM, PROCEEDING OR LAWSUIT AGAINST BITCOINX OR ITS AFFILIATES DUE, IN WHOLE OR IN PART, TO YOUR ACT, ERROR OR OMISSION CONCERNING (A) YOUR USE OF THE SERVICES; (B) ANY MATERIAL YOU PROVIDE TO THE SERVICES, OR (C) YOUR BREACH OF THIS AGREEMENT, THE YOU AGREE TO AND SHALL DEFEND, INDEMNIFY, AND HOLD BITCOINX AND ITS AFFILIATES HARMLESS FROM AND AGAINST ANY LOSS, LIABILITY, CLAIM, ACTION, OR DEMAND, INCLUDING WITHOUT LIMITATION REASONABLE LEGAL AND ACCOUNTING FEES. BITCOINX SHALL PROVIDE NOTICE TO YOU PROMPTLY OF ANY SUCH CLAIM, SUIT, OR PROCEEDING AND SHALL ASSIST YOU, AT YOUR EXPENSE, IN DEFENDING ANY SUCH CLAIM, SUIT OR PROCEEDING. BITCOINX RESERVES THE RIGHT TO ASSUME THE EXCLUSIVE DEFENSE AND CONTROL OF ANY MATTER SUBJECT TO IMMEDIATE INDEMNIFICATION BY YOU.
BINDING ARBITRATION AND CLASS ACTION WAIVER
YOU AND BITCOINX AGREE THAT, EXCEPT AS PROVIDED HEREIN, ALL DISPUTES, CONTROVERSIES AND CLAIMS RELATED TO OR ARISING UNDER THIS AGREEMENT, IN WHOLE OR IN PART, OR RELATED TO OR ARISING FROM ANY ACT, ERROR OR OMISSION RELATING TO ONE OR MORE TRANSACTION(S) CONDUCTED THROUGH THE SERVICES (EACH A “CLAIM”), SHALL BE FINALLY AND EXCLUSIVELY RESOLVED BY BINDING ARBITRATION. You and BitcoinX acknowledge and now agree that the Services referenced in the Agreement and all transactions relating to the Agreement, including a Claim, involve interstate commerce, and that this Agreement’s Binding Arbitration provisions shall be governed by the Federal Arbitration Act, 9 U.S.C. §§116. The arbitration will be conducted under the Streamlined Arbitration Rules and Procedures of JAMS that are in effect at the time the arbitration is initiated (the “JAMS Rules”) and under the terms set forth in this Agreement. In the event of a conflict between the terms set forth in this section and the JAMS Rules, the terms in this section will control and prevail.
Either party to this Agreement may initiate arbitration by sending written notice requesting arbitration to the other Party. Any election to arbitrate by one party shall be final and binding on the other. If either you or we fail to consent to binding arbitration following proper demand by the other party, the party refusing to consent bears all costs and expenses incurred by the other in compelling arbitration. If you initiate arbitration for a Claim, you will need to pay the JAMS arbitration initiation fee. If we are initiating arbitration for a Claim, we will pay all costs charged by JAMS for initiating the arbitration. All other fees and costs of the arbitration will be charged pursuant to the JAMS Rules. The question of whether a Claim is subject to arbitration shall be governed by the Federal Arbitration Act and this Agreement, and shall be determined by an arbitrator. Except as otherwise provided in these Terms, (a) you and BitcoinX may litigate in court to compel arbitration, stay proceedings pending arbitration, or confirm, modify, vacate or enter judgment on the award entered by the arbitrator; and (b) the arbitrator’s decision shall be final, binding on all parties and enforceable in any court that has jurisdiction, provided that any award may be challenged if the arbitrator fails to follow applicable law.
Except as otherwise set forth below, you may seek any remedies available to you under federal, state or local laws in an arbitration action, subject to this Agreement’s choice of law provisions and other damage-type limitations expressly contained herein. As part of the arbitration, both you and BitcoinX will have the opportunity for discovery of nonprivileged information that is relevant to the Claim, as permitted under the JAMS Rules and subject to the arbitrator’s discretion. The arbitrator will provide a written statement of the arbitrator’s decision regarding the Claim, the award given and the arbitrator’s findings and conclusions on which the arbitrator’s decision is based. The filing location and venue of the arbitration shall be Palm Beach, Florida; however, you may select to file electronically from your state of residence and appear at proceedings via video, phone or internet connection.
You and BitcoinX agree that the following Claims are not subject to the above provisions concerning negotiations and binding arbitration: (a) any Claim seeking to enforce or protect, or concerning the validity of, any of BitcoinX’s intellectual property rights; (b) any Claim related to, or arising from, allegations of theft, piracy, invasion of privacy or unauthorized use; and (c) any claim for equitable relief. In addition to the foregoing exclusions, either party may assert an individual action in small claims court for Claims that are within the scope of such court’s jurisdiction in lieu of arbitration.
IMPORTANT: You and BitcoinX agree that any arbitration shall be limited to the Claim between BitcoinX and you individually. YOU AND BITCOINX AGREE THAT (A) THAT ANY CLAIM CAN BE PURSUED ONLY ON AN INDIVIDUAL BASIS AND THAT A CLAIM CANNOT BE FILED OR PURSUED ON A CLASS-WIDE BASIS IN COMBINATION WITH OTHER CUSTOMER’S CLAIMS OR DISPUTES (b) THE PARTIES EACH WAIVE THE RIGHT FOR ANY DISPUTE TO BE ARBITRATED OR LITIGATED ON A CLASS-WIDE BASIS OR TO UTILIZE CLASS ACTION PROCEDURES; (C) THERE IS NO RIGHT OR AUTHORITY FOR ANY DISPUTE TO BE BROUGHT IN A PURPORTED REPRESENTATIVE CAPACITY OR AS A PRIVATE ATTORNEY GENERAL; AND (D) NO ARBITRATION CONCERNING A CLAIM SHALL BE JOINED WITH ANY OTHER ARBITRATION PROCEEDING.
You and BitcoinX agree that if any portion of this section (“Binding Arbitration and Class Action Waiver”) is found illegal or unenforceable (except any portion excluding specific matters from these provisions regarding binding arbitration), that portion shall be severed and the remainder of the section shall be given full force and effect. If any provision is found to be illegal or unenforceable, then neither you nor BitcoinX will elect to arbitrate any Claim falling within that portion of this section found to be illegal or unenforceable and such Claim shall be exclusively decided by a court of competent jurisdiction within the state or federal courts in Palm Beach, Florida; and you and BitcoinX agree to submit to the personal jurisdiction of that court.
Additional Terms and Conditions
Governing Law; Jurisdiction
This Agreement is governed by law of the State of Florida, without regard to conflict of laws principles. You agree, except as otherwise provided in the above-section titled “Binding Arbitration and Class Action Waiver”, that any claim, dispute or litigation you have or may bring against BitcoinX must be resolved exclusively within the federal or state courts located in Palm Beach, Florida. You agree to submit to the personal jurisdiction of the courts of the state of Florida located within Palm Beach County, Florida for the purpose of litigating all such claims or disputes.
“BitcoinX” and all logos related to the BitcoinX Servicess are either trademarks or registered trademarks of BitcoinX or its licensors. You may not copy, imitate or use them without BitcoinX’s prior written consent. In addition, all page headers, custom graphics, button icons, and scripts are Services marks, trademarks, and/or trade dress of BitcoinX. You may not copy, imitate, or use them without our prior written consent. All right, title and interest in and to the BitcoinX Website, any content thereon, the BitcoinX Services, the technology related to the BitcoinX Services, and any and all technology and any content created or derived from any of the foregoing is the exclusive property of BitcoinX and its licensors.
You may not transfer or assign any rights or obligations you have under this Agreement without BitcoinX’s prior written consent. BitcoinX reserves the right to transfer or assign this Agreement or any right or obligation under this Agreement at any time and reserves the right to delegate all or a portion of its duties under the Agreement to independent contractors or third-parties. Except as expressly specified herein, this Agreement shall create rights and obligations only between the BitcoinX and each individual user that accepts this Agreement and it does not create any rights for any other parties. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
Notices to You
You agree that BitcoinX may provide notice to you by posting it on our Website, emailing it to the email address you may provide to us or mailing it to the street address you may provide to us. If the notice is sent by mail, we will consider it to have been received by you three business days after it is sent. You may request a paper copy of any legally required disclosures and you may terminate your consent to receive required disclosures through electronic communications by contacting BitcoinX.
Notices to BitcoinX
Except as otherwise stated in the Agreement, notice to BitcoinX must be sent by postal mail to:
1710 Costa Del Sol
Boca Raton, FL, 33432
email to: email@example.com
Calls & Texts to You
By providing BitcoinX a telephone number (including a wireless/cellular telephone number), you consent to receiving SMS text messages related to BitcoinX Services at that number, and you agree and confirm that you are the account holder of that phone number you have supplied. If we determine that a telephone number you have provided to us is a mobile telephone number, we may categorize it as such in our systems and in your profile. Please note that some prepaid mobile plans do not support business-to-person text messaging, but may support person-to-person text messaging. You may also be assessed a charge by your carrier for text messages. Please contact your service provider for details about your plan.
Our failure to act with respect to a breach of these Terms by you or others does not waive our right to act with respect to subsequent or similar breaches of these Terms.
Capital Gains/Income Taxes
The purchase or sale of digital currency may be considered a taxable event and may be reportable as taxable income to state or federal taxing authorities. It is the Customer’s responsibility to contact a financial or tax advisor for further information. BitcoinX will not be held liable for any capital gains or tax implications due to the purchase or sale of digital currency by the Customer.
All transaction initiated by a Customer at a Kiosk will be accepted and processed by BitcoinX on a commercially reasonable best-efforts basis. BitcoinX shall not be responsible for errors, negligence or inability to execute orders. BitcoinX shall not be responsible for any delays in the transmission, delivery or execution of Customer’s transactions due to breakdown or failure of transmission or communication facilities, or to any other cause or causes beyond BitcoinX’s reasonable control or anticipation.
BitcoinX shall not be liable for any failure to perform its obligations under this Agreement due to fire, computer viruses, network failure, computer hardware failure, explosion, flood, hurricane, lightning, act of terrorism, war, rebellion, riot, sabotage, pandemic, orders or requests of any government or any other authority, legislative changes, strikes, lockouts or other labor disputes, or events or circumstances beyond its reasonable control. BitcoinX shall use commercially reasonable endeavors to minimize the Services interruption and down-time as a consequence of such events.
Not Legal, Accounting, Nor Tax Advice
Information provided in this Agreement, at its Kiosks or on the Website is not and is not intended to provide legal, accounting, or tax advice, and Customer agrees not to act in reliance rely on the same in that regard.
Complete Agreement, Severability and Survival
This Agreement, along with any and all documents mentioned herein, sets forth the entire understanding between you and BitcoinX with respect to the BitcoinX Services, superseding all prior or contemporaneous proposals, communications, writings and understandings. This Agreement can only be amended by a writing signed by an authorized representative of BitcoinX or by amendment by BitcoinX under the procedure set forth within this Agreement. If any provision of this Agreement is held to be invalid, illegal or unenforceable, such determination shall not impair or affect the validity and enforceability of the remain provisions of the Agreement, which remaining provisions shall remain fully binding between the Parties. The respective rights and obligations of the Parties shall survive the expiration or termination of this Agreement, regardless of the reason for such expiration or termination, including, but not limited to, the completion of a transaction through the Services.
BitcoinX may provide you with the ability to translate this Agreement to a language other than English. Any translation of this Agreement is provided solely for your convenience and is not intended to modify and will not effective an amendment to the terms of this Agreement. In the event of a conflict between the English version of this Agreement and a version in a language other than English, the English version shall control.
BY CLICKING “I ACCEPT” YOU ARE INDICATING YOU HAVE READ AND UNDERSTAND THE FOREGOING AGREEMENT AND AGREE TO BE BOUND BY ALL ITS TERMS.
If you elect to contract with us electronically or otherwise request documentation or disclosures electronically, you specifically consent and agree that we may provide all disclosures, agreements, contracts, receipts, notices, amendments and all other evidence of our transactions with you electronically (hereinafter all such documentation is referred to as “electronic record(s)”). You have a right to receive a paper copy of any of these electronic records if applicable law specifically requires us to provide such documentation. Also, you may withdraw your consent and revoke your agreement to receive records electronically. To request a paper copy or to withdraw your consent and agreement to receive electronic records, send us your notice in the manner described above in this Agreement Withdrawal of your consent will terminate your enrollment in the Services, and we may deny you use of the Kiosks for any of the Services, unless you submit to us a validly executed paper form of the foregoing Agreement in lieu of your electronic consent. You intend and agree that electronic communications will be given the same legal affect as written and signed paper communications, and that you will not contest the validity of the original or copies, absent material proof of alteration.