Update of our terms and conditions

At Bitonic, we are continuously improving our services. To reflect these developments, we have updated our terms and conditions. The updated terms and conditions apply to both personal and business accounts.

The main updates

Auto Invest for your child

It will soon be possible to create an investment plan for your child through Auto Invest. For this purpose, we have added a new article 9a to the User Agreement. As a parent or legal representative, you can create an investment plan for your child. The bitcoin allocated to the plan will remain in custody with Bitonic and cannot be withdrawn, sold or transferred for as long as your child is a minor. Once your child reaches the age of majority, they can take control of the account and access the bitcoin.

Additional security for bitcoin withdrawals

We have added the option to set a withdrawal block for bitcoin. This provides an additional security measure to prevent bitcoin from being withdrawn for a period of your choice. For example, you can set a block for several days or longer. This gives you more control over the security of your bitcoin.

Custody fees for bitcoin

We have included the option to charge custody fees for bitcoin. Safely storing bitcoin involves costs. If we decide to charge custody fees, we will inform customers in advance.

Sending bitcoin to other Bitonic users

The User Agreement clarify that, under certain conditions, bitcoin can also be sent to another Bitonic user. This more clearly sets out that it is possible to send bitcoin between users within Bitonic.

Clarification regarding forks

We have clarified the provisions regarding possible forks of bitcoin. The User Agreement now explicitly state that you are not automatically entitled to new crypto-assets or rights that arise as a result of a fork. Only if Bitonic explicitly states that you are entitled to the relevant crypto-assets can they be claimed. Bitonic will also continue to determine which network is supported.

Travel rule

As part of the travel rule, we are required to collect and exchange information about the sender and recipient for certain bitcoin transactions. We have therefore clarified several points in our User Agreement. If the required information is missing or cannot be provided correctly when bitcoin is deposited, Bitonic may, under certain circumstances, refuse the deposit or return it to the sender.

Minor language and style updates

We have made several minor language and style adjustments to improve readability. We have also made these changes to the various appendices to the terms and conditions, including the privacy policy, complaints procedure and risk disclosure.

Do you have any questions?

Read the changes carefully and familiarise yourself with the updated terms and conditions. If you have any questions, feel free to contact us via email, chat, or by phone: +31 (0) 20 226 5289 (Mon - Fri, 10 AM - 12:00 PM).

Read our User Agreement here.