Update of our Terms and Conditions

At Bitonic, we continuously develop our services. To clearly communicate these changes, we have implemented updates to our terms and conditions. These apply to both individual and business customers.

In addition to linguistic adjustments to clarify and make the terms more accessible (such as rewriting the introduction, using 'own wallet' instead of 'self-hosted wallet', replacing all instances of 'you' and 'your' with 'the User' and deleting the definition of 'Sending Address'), we have also added the names of relevant regulations to clarify references. Below, you will find the key changes to our terms.

Changes in definitions

As you may know, Bitonic is facing a number of new laws and regulations. Starting from December 30, MiCA (Markets in Crypto-Assets Regulation) and the revision of TFR (Transfers of Funds Regulation) will come into effect. Additionally, DORA (Digital Operational Resilience Act) will also come into effect on January 17, 2025. Moreover, we are already subject to existing laws and regulations such as the Wwft (Anti-Money Laundering and Anti-Terrorism Financing Act), the Sanctions Act 1977 and the GDPR (General Data Protection Regulation).

Therefore, we have added some explicit references to the GDPR and TFR. MiCA was already included in our terms. We have also incorporated several definitions from the GDPR, such as the definitions of 'Personal data' and 'Processing', which makes our privacy policy clearer.

Furthermore, we have made some general adjustments to the definitions. The service 'Bits' has been renamed to 'Bitonic Savings' and we have added the definitions for 'Bonus Code', 'Referral Code' and 'Referral Program'.

Bonus Codes and the Referral Program

Recently, you could receive €10 in bitcoin for free with a bonus code. We had previously established separate terms for this, but since we prefer not to have various sets of terms, we have integrated these into our terms and conditions.

The referral program is currently not live, but we plan to launch it in the near future. To make this legally possible, we have already included the terms for it. More information about the program will follow in due course.

Updates to appendices

In the recent past, we have added appendices, such as the trading rules for our exchange BL3P and the complaints procedure. However, our responsible disclosure and privacy policy also needed an update, so we have now revised these.

Additionally, we have added a new risk disclosure as an appendice. This outlines the key risks associated with using our services and bitcoin in general. We have also made adjustments to certain appendices to ensure consistent use of definitions in our terms and conditions.

The fees page

In article 14, you will find more information about the trading fees, transaction costs and service charges that we apply. There was already a separate fees page for BL3P and now we have also added a fees page for Bitonic.

On this page, you will find the current fees for all our services, such as Bitonic, Bitonic Savings and OTC.

Lightning

We were the first Dutch company to support Lightning on our exchange BL3P. Since the provisions regarding this were specifically written for BL3P, and we may want to integrate Lightning into the Bitonic app in the future, we have formulated the provisions in a more general way. You can see this reflected in articles 7 and 8.

Unfortunately, we also have some less positive news. During Bitcoin Amsterdam 2022, we distributed BL3P Lightning cards that allowed customers to withdraw bitcoin via the Lightning. As you may know, we recently announced that we will be discontinuing BL3P. This means that the Lightning card will be deactivated as of December 20. Consequently, the associated terms (sections 6 through 8 of Article 12) have been removed.

Do you have any questions?

Please read these notifications carefully and familiarise yourself with the changes. If you have any questions, feel free to contact us via email, chat, or by phone: +31 (0) 20 226 5289 (Mon - Fri 9:30 AM - 1:00 PM & 2:00 PM - 6:00 PM).

Read the terms and conditions here.