Terms and Conditions

Last Updated: 24.10.2024

Introduction

These Terms and Conditions govern your use of the website https://btcbnk.io/ and any services provided by BTC Bank (SVV Poland Sp. z o.o.). By using our services, you agree to these terms.

Eligibility

By using our platform, you confirm that you are at least 18 years old and eligible to engage in cryptocurrency transactions under your jurisdiction’s law.

Services Offered

BTC Bank offers crypto-to-fiat and fiat-to-crypto exchange services. The company functions as VASP virtual assets service provider facilitating online payments, encompassing activities like e-commerce transactions and electronic bill/invoice payments.

Account Registration

Users may need to create an account to access certain services. You are responsible for maintaining the confidentiality of your login information.

KYC/AML Compliance

We are required to perform Know Your Customer (KYC) checks and Anti-Money Laundering (AML) procedures. You agree to provide accurate information and comply with identity verification processes as required by law.

Transaction Fees

Transaction fees are disclosed transparently before any exchange is initiated. BTC Bank is not responsible for additional fees imposed by your financial institution.

Limitations of Liability

BTC Bank is not liable for any delays or interruptions in the crypto transaction process due to third-party network issues or regulatory actions.

Risks Related To Digital Assets

Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:

a. faults, defects, hacks, exploits, errors, protocol failures or unforeseen circumstances occurring in respect of a Digital Asset or the technologies or economic systems on which the Digital Asset rely;

b. transactions in Digital Assets being irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable;

c. technological developments leading to the obsolescence of a Digital Asset;

d. network delays causing transactions to not be settled on the scheduled delivery date;

e. attacks on the protocol or technologies on which a Digital Asset depends;

f. a hard fork may occur if Digital Asset developers suggest changes to a particular Digital Asset software and the updated software is not compatible with the original software and a sufficient number (but not necessarily a majority) of users and minors elect not to migrate to the updated software. This would result in two versions of Digital Asset networks running in parallel and a split of the blockchain underlying the Digital Asset network, which could impact the demand of the Digital Asset and adversely impact the price of the Digital Asset;

g. certain addresses on the blockchain networks hold a significant amount of the currently outstanding asset on that network. If one of these addresses were to exit their positions, this may result in volatility that could adversely affect the price of that asset;

h. if anyone gains control of over 51% of the computing power (hash rate) used by a blockchain network, they could use their majority share to double spend their Digital Assets. Whilst the risk of this occurring for networks with wider adoption is remote, if such a “51% attack” were to be successful, this would significantly erode trust in public blockchain networks (like Bitcoin and Ethereum) to store value and serve as a means of exchange, which may significantly decrease the value of Digital Assets;

i. Digital Assets are subject to the risk of fraud or cyber attacks;

j. Digital Assets purchased and held in an account with Binance are not covered by any external investor compensation, customer asset protection, deposit protection, insurance or other similar schemes; and

k. new risks may arise from investing in new types of Digital Assets or market participants’ engagement in more complex transaction strategies. Digital Assets and the Digital Asset market is subject to speculative interest, rapid price swings and uncertainty.