ABOUT Bit Stamp Cryptos AND THE SERVICES
Bit Stamp Cryptos Limited is incorporated in England and Wales with the company number 8157033 and with its registered office at 5 New Street Square, EC4A 3TW London, United Kingdom (“Bit Stamp Cryptos”).
The Services allow registered users of the Services (“Members”) to:
- Buy or sell Virtual Assets and Digital Assets from or to other Members in exchange for other Virtual Assets or Digital Assets, or for fiat currency;
- Enter into arrangements to store Virtual Assets and Digital Assets listed on the Site with a third-party custodian;
- Withdraw any fiat currency balance held in your Account;
- Transfer Virtual Assets and Digital Assets to a wallet or to other users of such Virtual Assets and Digital Assets outside the Site;
- Use Virtual Assets for purchasing goods; and
- Access and use the Ripple protocol.
GENERAL TERMS TO THE SITE
All our Services are provided without warranty of any kind, either express or implied, and, in particular, without implied warranties of merchantability and fitness for a particular purpose. We do not guarantee that the Services as well as the Site will be available 100% of the time to meet your needs. We will strive to provide you with the Services as soon as possible, but there are no guarantees that access will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.
YOUR Bit Stamp Cryptos ACCOUNT
Opening of your Account
By opening an Account, you expressly represent and warrant:
- If you are an individual, that you are at least 18 years of age;
- If you are a legal entity or acting in the name of a legal entity, that you are duly authorised to act on behalf and in the name of the legal entity, and bind the latter validly;
- That you acknowledge and agree that all information provided, communicated, and exchanged with you, including but not limited to any contractual information, disclaimers, marketing actions and customer support, is conducted in English and that you expressly renounce to any other language.
How We Verify Your Account
We expressly reserve the right to cancel and/or terminate Accounts that have not been verified by the Member despite efforts made in good faith by us to contact you to obtain such verification (“Unverified Accounts”). All Unverified Accounts which have been inactive for a period of 6 months or more are further subject to transfer to a third-party escrow (the “Unverified Escrow”), and will no longer be maintained or under our legal responsibility. The administrator/trustee of the Unverified Escrow shall make any and all additional reasonable efforts required by law to determine and contact each Unverified Account owner and, after suitable effort and time has been expended, we may be required to convert the residual Virtual Assets or other Digital Assets into fiat and send it to a national authority responsible for the safekeeping of such funds
Funding Your Account
You may fund your Account via wire deposit or Automated Clearing House (“ACH”) deposits.
If you have chosen to fund your Account via wire deposits, funds from a wire deposit will be made available for trading on your Account as soon as they are settled. Please note that the deposit settlement times are subject to bank holidays, the processes of partner banks and the processes of your bank. In addition to that, deposit settlement times may be delayed because of any technical issues.
We do not accept fiat currency deposits from third-party bank accounts. The name on your linked bank account must match the name verified on your Bit Stamp Cryptos Account. If a wire transfer is received from a third-party bank account, we will reject and return the wire immediately.
Your Account, once funded, does not and will not earn interest.
ACH Payment Method
If you have enabled ACH funding for your Account, ACH deposit amount will be available for trading on your Account upon receipt of your deposit. We will withhold any funds deposited or any Virtual Assets or Digital Assets bought with them from withdrawal until they are deemed settled. After any such funds are deemed settled, you will be able to make withdrawals again.
Please note that the deposit settlement times are subject to bank holidays, the processes of partner banks and the processes of your bank. In addition to that, deposit settlement times may be delayed because of any technical issues.
We reserve the right to increase or decrease your daily, monthly and overall limits, or make them temporarily or permanently unavailable. This may be done without notice and at our sole discretion.
Placing a Card Purchase
If you are an individual, you can perform an instant Purchase Transaction using your credit or debit card (“Card Purchase”). The Fees we charge to process instant Purchase Transactions are detailed in our Fee Schedule.
When making a Card Purchase on our website or mobile app, your card data is automatically stored by our card payment service provider via a tokenization process. This means that a sensitive data element (PAN-card number) is substituted with a non-sensitive equivalent called a token. This tokenization process is designed to keep your data safe and secure from unauthorised access by a third party. You can only register a credit or debit card held in your name.
Our appointed payment services provider may save and store payment information, such as credit card or debit card numbers and card expiration dates, entered by you on our website when you make a Card Purchase. Such stored payment information may be used as your default payment method for further Card Purchases on our website or mobile app. At any time, you can delete your card information or enter new card information. If your card has expired, the payment information relating to that particular card will not be stored anymore by our payment service provider and you will be prompted to indicate your new card information the next time you want to proceed with a Card Purchase. You are responsible for maintaining your card information up-to-date and accurate. You consent to Bit Stamp Cryptos updating such stored information from time to time based on information provided by you, your bank or other payments services providers. You will only provide information about payment methods that you are authorized to use.
If you have any questions on how to make a Card Purchase, see our FAQ page.
In the event the exchange of fiat currency to Virtual Assets or other Digital Assets is not processed because of any technical issues or high price volatility during the card purchase procedure, Bit Stamp Cryptos will credit the Member’s account with fiat currency.
Maintaining Your Account
Keep Your Information Up-to-Date
We are vigilant in maintaining the security of our Site and the Services. By registering with us, you agree to provide Bit Stamp Cryptos with current, accurate and complete information about yourself, including, for legal entities, information on directors, key personnel and beneficial owners, as well as company resolution to open the Account, as prompted by the registration process, and to keep such information updated. If you are an individual, you further agree that you will not use any Account other than your own or access the Account of any other Member at any time or assist others in obtaining unauthorised access.
The creation or use of Accounts without obtaining our prior express permission will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated. Termination is not the exclusive remedy for such a violation, and we may elect to take further action against you.
Maintain the Confidentiality of Your Account Information
You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Virtual Assets and Digital Assets, and all activity including Transactions that are posted to your Account (including all Instructions to Bit Stamp Cryptos). Any actions on the Site, transactions, orders, Instructions and operations initiated from your Account or using your password are (1) considered to have been made by you and (2) irrevocable once validated using your password or made through your Account. If there is suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and freeze any transactions pending our review. You are obligated to comply with these security requests or accept the termination of your Account. You are required to notify Bit Stamp Cryptos immediately of any unauthorised use of your Account or password, or any other breach of security, by email to support@Bit Stamp Cryptos.net . Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Bit Stamp Cryptos or any user of the Site and Services.
You acknowledge that you will only credit your Bit Stamp Cryptos Account from a bank account that is in your own name and that you will instruct payments from your Bit Stamp Cryptos Account only to a bank account that is in your own name.
We reserve the right to cancel transfers which are made by or sent to third parties.
Keep Your Virtual and Digital Assets Safe
Bit Stamp Cryptos’s role is limited to providing you with a platform via the Services under which we act solely as a service provider, as your agent and in accordance with your Instructions for the management and transfer of Virtual Assets and other Digital Assets.
We do not store any Virtual Assets or other Digital Assets directly, but where you Instruct us to arrange for any Virtual Assets or other Digital Assets owned by you (including any bought on your behalf) to be held until we receive further Instruction from you to sell or transfer them (with any deposit of Digital Assets and/or Virtual Assets being deemed to be such an Instruction), we will, acting on your behalf, appoint one or more third-parties as a custodian and to hold the relevant Virtual Assets or other Digital Assets as a custodian in accordance with our agency authority (see below).
Notwithstanding the direct custodial relationship between the custodian(s) and you, if for any reason Bit Stamp Cryptos is held or declared to have any legal or beneficial interest in your Virtual Assets or other Digital Assets, Bit Stamp Cryptos will hold on trust for you all such right title and interest which Bit Stamp Cryptos is held or declared to have and will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).
In order for us to manage the Site, provide the Services and create a direct relationship between you and the third-party custodian(s) to hold the relevant Virtual Assets or other Digital Assets as custodian on your behalf, you appoint Bit Stamp Cryptos as your agent with a perpetual and irrevocable (other than in the event of Account termination) agency authority to act as your agent to:
- Create a direct legal-custodial relationship between you and a third-party custodian(s) for the custody of your Virtual Assets or other Digital Assets, as well as appointing authorised persons within Bit Stamp Cryptos to instruct such third-party custodian(s) on your behalf;
Access and/or transfer Virtual Assets or other Digital Assets as required for the operation of the Site and provision of the Services, including:
- Storing and keeping confidential private keys in respect of Virtual Assets or other Digital Assets;
- Transferring cryptocurrencies to third-party custodian(s) (who are entitled in turn to appoint sub-custodians and provide the custodian services to you through such sub-custodians or other nominees or agents); and
- Moving cryptocurrencies between hot and cold wallets held by these custodian(s) to allow sufficient hot wallet liquidity to support trades on the Site whilst at the same time providing the additional security of cold wallet storage;
- Share your information with third-party custodian-service provider(s) so that they can be engaged to provide custodian services to you (see below);
- Transfer Virtual Assets and Digital Assets to a wallet or to other users of such Virtual Assets and Digital Assets outside the Site;
- Undertake the following events that act, or could act as restrictions, or impact your rights:
- Freezing of Ripple accounts in accordance with Ripple Labs policy;
- Termination of our relationship with you and/or your Account;
- Suspension of our relationship with you and/or your Account;
- Prohibiting wash trading and other activities;
- Requiring minimum trade sizes;
- Blocking Accounts in certain circumstances;
As a result of this limited agency relationship, we do not, and you agree that we do not, have or acquire any rights, title or interest in any Virtual Assets or other Digital Assets that are held on your behalf by the third-party custodian(s).
We are not an intermediary, do not acquire any rights, title or interest in, and do not assume and have no rights or control over any Virtual Assets or other Digital Assets or any other Member assets other than in respect of actions taken in accordance with our agency authority and your Instructions. As a result, we will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).
We charge Fees for our Services. Fees are described and available in our Fee Schedule. We reserve the right to change our Fees at any time and at our sole discretion. You will be notified of any changes in advance through your Account or email. Upon such notification, it is your responsibility to review the amended Fee Schedule. Your continued use of the Site following the posting of a notice of Fee changes signifies that you accept and agree to the changes.
We will not charge you any fees other than the Fees set out in the Fee Schedule. We may not use Digital Assets and/or Virtual Assets in any way to generate revenue other than in connection with the charging of Fees as set out in the Fee Schedule.
Closing Your Account
You may close your Account at any time.
You may terminate this agreement with Bit Stamp Cryptos and close your Account at any time here, following settlement of any pending Transactions.