General Terms and Conditions Bitonic B.V.
This user agreement and the included (general) terms (the User Agreement), which are made available to you and must be expressly accepted before creating an account and utilizing the Services (as defined below, as well as all words starting with a capital letter), are at all times and exclusively applicable to your relationship with Bitonic and the Foundation and all services provided to you by them.
The User Agreement is an agreement between you, the User on one hand, and Bitonic and the Foundation on the other. The Foundation's sole task and purpose are to keep Users' Funds separate from the assets of Bitonic.
Bitonic is an entity within the meaning of the Anti-Money Laundering and Counter-Terrorist Financing Act (Wwft). Therefore, Bitonic had to register with DNB. DNB has registered Bitonic under number R125217. Please note: this does not mean that DNB supervises the financial health of Bitonic. Bitonic and the Foundation are not under the supervision of the AFM. Bitonic is not a bank or credit institution. The deposit guarantee scheme and the investor compensation scheme do not apply to the Services offered by Bitonic.
The User Agreement must be interpreted in conjunction with the entirety of the following Annexes:
- User understands that there are risks associated with the use of the Services and has carefully considered whether their financial situation and risk tolerance are suitable for the use of the Services.
- User has the relevant knowledge to make responsible, informed decisions regarding Buying and Selling Bitcoin.
- User declares at their own risk to engage in the Buying and/or Selling of Bitcoin and understands that completed Transactions cannot generally be undone or reversed.
- User understands that Bitonic does not provide advice regarding the Buying and/or Selling of Bitcoin. If Bitonic suspects that the User is directly or indirectly involved in fraud, scams, or other illegal activities, the User will be warned.
Article 1: Definitions
- An account at Bitonic, providing access to the Services.
- A (public) Application Programming Interface for formalized information exchange between Bitonic and the User or for automated Order execution on BL3P.
- A mobile application issued by Bitonic.
- Bitonic B.V., a private limited company under Dutch law, with its statutory seat and office at (1018 BH) Amsterdam, Hoogte Kadijk 143 F 8, registered at the Chamber of Commerce under number 58276149.
- Bitonic Portfolio
- A hosted wallet by Bitonic (linked to a specific User), enabling the User to store Bitcoin and/or Euro Credit via the App and/or Website.
- A service allowing the User to periodically buy Bitcoin and have it sent to a hosted and/or self-hosted wallet owned by the User.
- A crypto-asset as referred to in article 3 section 1 under 5 MiCA.
- A service enabling the User to buy and/or sell Bitcoin with Market and/or Limit Orders and to store Bitcoin and/or Euro credit. Also, a crypto-asset trading platform as referred to in article 3 section 1 under 16 sub b MiCA.
- Buying Bitcoin for Euro and/or Euro Credit.
- Completed Transaction
- A Transaction is considered completed when it has been processed and sent by Bitonic.
- An official currency that can be used for Buying and Selling Bitcoin.
- Euro Credit
- A payment instrument with limited usability issued by Bitonic. This instrument is issued at par upon receipt of Euro by the Foundation and allows the User to engage in Buying and Selling Bitcoin within a limited network.
- Stichting Bitonic Payments, a foundation under Dutch law, with its statutory seat and office at (1018 BH) Amsterdam, Hoogte Kadijk 143 F 8, registered at the Chamber of Commerce under number 58799117.
- Bitcoin and Euro held in custody by the Foundation, separately held by the Foundation to keep Users' Funds separate from the assets of Bitonic.
- An event where a third party gains unauthorized access to the personal and other sensitive data in the User's Account, such as stealing privacy-sensitive information and/or unauthorized execution of one or more Transactions.
- A second-layer network linked to the Bitcoin blockchain, enabling the User to deposit and withdraw Bitcoin on BL3P.
- Limit Order
- A 'Limit Order' is an instruction from the User to buy and/or sell Bitcoin at a specified minimum or maximum price.
- Market Order
- A 'Market Order' is an instruction from the User to immediately buy and/or sell Bitcoin at the best available price at that time.
- Regulation (EU) 2023/1114 of the European Parliament and of the Council of 31 May 2023 on markets in crypto-assets, and amending Regulations (EU) No 1093/2010 and (EU) No 1095/2010 and Directives 2013/36/EU and (EU) 2019/1937.
- Network Confirmation
- The inclusion of a Bitcoin transaction in a block of the Bitcoin blockchain.
- A 'Limit Order' or 'Market Order'.
- Order Book
- An overview of outstanding Limit Orders (both demand and supply) on BL3P.
- A service allowing the User to buy and/or sell Bitcoin at a pre-agreed price (quote), outside the App or Website.
- Receiving Address
- A Receiving Address refers to a Bitcoin address of a hosted and/or self-hosted wallet owned by the User or a Bitcoin address of a hosted wallet by Bitonic (either by Bitonic itself or linked to a specific User).
- Return Address
- A Bitcoin address provided by the User of a hosted and/or self-hosted wallet owned by the User.
- Selling Bitcoin for Euro and/or Euro Credit.
- Sending Address
- A Sending Address refers to a Bitcoin address of a hosted and/or self-hosted wallet owned by the User.
- All services Bitonic offers through the App and/or Website.
- A transaction between Bitonic and the User. This can involve both a Buy and a Sell.
- A natural or legal person with a verified Account using the Services.
- https://bitonic.nl/, https://bitonic.com/, https://bl3p.eu/ and all related (sub)domains.
Article 2: Opening an Account
The opening or use of an Account is reserved for a natural person or legal entity (represented by an authorized representative) residing or having its registered office in the European Economic Area, Switzerland, or the United Kingdom. By opening and using an Account, the User declares compliance with this requirement and informs Bitonic of any potential changes.
It is exclusively permitted to open an Account and use the Services by natural persons and (representatives of) legal entities who:
- are of legal age (18+ in the Netherlands) and fully capable and competent with regard to their own assets (or those of the legal entity they represent);
- are authorized under the applicable laws and regulations to enter into the User Agreement and avail themselves of the Services; and
- do not qualify as a ‘US Person’.
The aforementioned conditions are, as far as reasonably possible, verified and checked by Bitonic. Based on these checks and verifications, as well as other reasonable grounds, Bitonic reserves the right to deny the provision of an Account and access to the Services.
With the registration of an Account and the use of the Services, the User declares and assures Bitonic and the Foundation that they:
- read the User Agreement and are familiar with and agree to its contents;
- are at least 18 years old or the minimum age required in their country of residence to receive the Services;
- understand the risks associated with trading in crypto-assets and accept these risks;
- are fully competent to independently carry out legal actions and dispose of their assets and rights;
- verified all information and documents sent to Bitonic, ensuring their accuracy and completeness;
- affirm that all funds deposited (money or Bitcoins) are solely and lawfully owned and originated from bank account(s) or wallet(s) registered in their name;
- will create and use only one Account;
- will not use the Services in a manner conflicting with the terms of the User Agreement, applicable laws, or regulations, or in a fraudulent or unlawful manner;
- are not a 'US Person';
- are not on a sanctions list;
- are not a politically exposed person (PEP), and neither are their family members or close associates;
- are not a resident of a country against which the Netherlands, the European Union, and/or the United Nations have imposed sanctions.
- When Bitonic suffers damages due to an incorrect statement by the User, Bitonic can recover these damages from the User.
Article 3: Access and Use of the Account
- Depending on the country of residence or the country from which the User accesses the Services, it's possible that the User may not be allowed to use the Services. The User is responsible for complying with the laws and regulations applicable in the country of residence and/or the country from which they access the Services. The User declares and ensures that their use of the Services is permitted under the relevant laws and regulations.
- If the User is a legal entity, the Account may only be used by an authorized representative. The User is responsible for restricting access to the Account solely to authorized representatives.
- Transactions on behalf of a legal entity or personal corporation (excluding sole proprietorships) may only occur from a business (verified) bank account in the name of the respective entity. In all cases, Bitonic can and may verify this.
- The User provides Bitonic with current, accurate, and complete information during the registration and verification process. The User is obliged to promptly and, at the latest, within 14 days, inform Bitonic of any changes in the provided information or other facts or circumstances that are relevant to Bitonic in the context of the Services. Any negative consequences or damages resulting from the user's failure to do so are solely the user's responsibility and risk.
- The User may only act on their behalf. It is not permitted for the User to transfer their Account and/or allow its use by another natural or legal person, whether this usage is on behalf of the User, unless Bitonic has expressly granted written permission for this.
- The User shall not use the Account and the Services for any kind of criminal activities, including but not limited to money laundering, financing terrorism, circumventing sanctions, fraud, and/or other illegal activities.
- Bitonic endeavors to provide the User access to their Account and Services 24 hours a day, 7 days a week, but cannot guarantee this. Bitonic announces scheduled major maintenance at least 24 hours in advance.
Article 4: Termination of the Account
- Bitonic may terminate an Account for compelling reasons and thereby terminate the User Agreement. This means that open Transactions will be settled. Throughout the settlement, all relevant terms from the User Agreement remain in effect.
- The User can terminate the User Agreement and their Account at any time with immediate effect, unless prohibited by applicable laws or regulations.
- Termination of the User Agreement automatically results in the closure of the Account and the cessation of Services, unless necessary in connection with rights and obligations that existed before the date of termination of the User Agreement.
- The User has 14 days to withdraw Funds. If the User takes no action within this period, Bitonic reserves the right to sell the Funds and deposit the proceeds, after deducting incurred costs, into the User's verified bank account.
- In case of a breach by the User of the terms outlined in the User Agreement, unlawful use or abuse of the Services, or any other action by the User that may cause damage to or by the Services, Bitonic reserves the right to suspend or block specific or complete use of an Account, suspend or cancel a pending Buy, Sell, or Order, suspend or cancel a deposit or withdrawal of Funds, freeze the Funds related to an Account, or suspend the cancellation of an Account. This can be for the duration of an investigation or permanently. The above also applies in cases where third-party seizures are placed or pending on the User's Funds. Bitonic does not disclose data to governments or law enforcement agencies unless legally required to do so.
Article 5: Verification
- Both during the opening and the use of the Account, the User commits to continuously provide Bitonic, upon request, as well as unsolicited, with all information that Bitonic deems necessary or reasonably required to comply with its legal obligations, including those arising from anti-money laundering and sanction regulations.
- The verification process and any additional requirements may take some time. This could result in delayed Services that might have adverse consequences for the User. The User is aware of this and indemnifies Bitonic from any resulting damages.
- In cases where Bitonic hasn’t received all the information during the verification process from the User or if the received information warrants it, Bitonic may terminate the Account.
- The User consents to the collection and utilization of information in accordance with the privacy and cookie statement by using the Services.
Article 6: Limits
The User's access to the Services involves restrictions, including (a combination of) daily, weekly, monthly, yearly, and/or total:
- trading limits;
- deposit limits;
- withdrawal limits.
Additionally, minimum amounts may be set for the mentioned Fund limits. These limits are primarily pre-determined based on the information provided by the User.
Bitonic reserves the right to change the procedures and limits from time to time without prior notice.
- The User can request an increase in limits. Based on the provided information and/or documentation, Bitonic determines whether to increase the limits.
Article. 7: Bitcoin
- After the User deposits Bitcoin into the Bitonic Portfolio and/or BL3P, the Foundation segregates this Bitcoin to create a separate entity from Bitonic. The User holds a claim against the Foundation, in proportion to the amount set aside by the Foundation. The Foundation is not entitled to dispose of the respective Bitcoin independently.
- Bitonic sends Bitcoin, upon User's request, to a specified Receiving Address provided by the User. This Receiving Address, from a hosted and/or self-hosted wallet, must be owned by the User. Withdrawals may experience delays due to security measures taken by Bitonic and/or congestion on the Bitcoin network.
- A deposit of Bitcoin is added to the User's Account balance as soon as possible after one or more network confirmations. Bitonic can determine, at its discretion, the number of network confirmations required. The User is responsible for obtaining network confirmations.
- The User acknowledges that storing Bitcoin in the Bitonic Portfolio and/or on BL3P carries risks. Bitonic and the Foundation take necessary measures to secure Funds in the Bitonic Portfolio and on BL3P to prevent Incidents. The User acknowledges that any use of the Bitonic Portfolio and/or BL3P is at the User's own risk.
- The User declares to only deposit Bitcoin into the Bitonic Portfolio and/or BL3P originating from a hosted and/or self-hosted wallet owned by the User and not directly sourced from an unregulated gambling platform, Darknet Market, or other illegal sources or as a direct payment from a third party to the User. Bitonic can and may verify this.
- The User declares to only withdraw Bitcoin from the Bitonic Portfolio and/or from BL3P to a hosted and/or self-hosted wallet owned by the User, which is not an Receiving Address at an unregulated gambling platform, Darknet Market, or other illegal sources, or a Receiving Address used for a direct payment to a third party. Bitonic can and may verify this.
- Only in cases where Bitonic explicitly informs the User that they can claim a crypto-asset resulting from a split (fork) in a crypto-asset network, the User may claim it. In all other cases, the User does not have a right to the proceeds of a fork. Bitonic is not liable for damages or lost income resulting from the choice to support the split network. Bitonic reserves the right to determine which network applies to the crypto-assets offered by Bitonic.
Article 8: Funds
- The Foundation operates based on an agreement with Bitonic. The Foundation segregates User Funds to create separate assets from Bitonic. The Foundation is exclusively involved in this User Agreement for the purpose of asset segregation. The Foundation may engage third parties for the safekeeping of the Funds.
- User declares that all current and future Funds are obtained legitimately and are not directly or indirectly associated with any form of criminal activity, including but not limited to money laundering, financing terrorism, sanctions evasion, fraud, or other illegal activities.
- User declares to hold Funds solely for themselves and not for third parties.
- Bitonic reserves the right to investigate the source of Funds and take appropriate measures to mitigate risks. Bitonic may return Funds to a verified bank account and/or Return Address.
- When suspected of fraud and/or abuse, Bitonic has the right to suspend or cancel deposits and/or withdrawals of Funds until their legitimacy is verified. Bitonic may, at its discretion, determine that a deposit and/or withdrawal of Funds requires additional investigation, needs to be canceled, and/or returned.
- User declares to transfer or send Funds only from a bank account or hosted and/or self-hosted wallet owned by the User. In all cases, Bitonic can verify whether the respective bank account or hosted and/or self-hosted wallet belongs to the User. The use of an anonymous bank account (e.g., prepaid bank account/debit card) is not permitted.
- User is responsible for entering the correct details (including Receiving Address, Return Address, Sending Address, Order, Bitcoin quantity, and payment information) when withdrawing and depositing Funds and acknowledges that Transactions cannot be undone. Bitonic is not liable for damages caused by providing incorrect information.
- Withdrawals and deposits of Funds might experience delays due to security measures implemented by Bitonic, congestion on the Bitcoin network, and disruptions at payment service providers or banks. If there are issues with the processing of one or more Transactions, the User is entitled to support.
- If an Account remains inactive for 5 years, and Bitonic is unable to establish contact with the User, Bitonic can terminate the Account and thereby terminate the relationship. In such a case, the User forfeits all rights to the Funds.
- The Euro Credit enables the User to Buy and/or Sell Bitcoin within the App or Website. This Euro Credit must not be used for any other purposes. No interest is paid on the Euro Credit.
Article 9: Buy
- User can buy Bitcoin through the Website and have it sent directly to a hosted and/or self-hosted wallet owned by the User, excluding a Receiving Address from an unregulated gambling platform, Darknet Market, or other illegal sources, or a Receiving Address used for a direct payment to a third party. The quoted price for the buying process outlined in this section is presented at the time of the transaction and remains fixed upon the initiation of the payment via the payment service provider.
- User can buy Bitcoin via the App and/or Website and store it in the Bitonic Portfolio. The quoted price for buying Bitcoin, through the means described in this section, is visible at the time of buying and has a limited validity.
- User can periodically buy Bitcoin via Bits and have it sent to a User-owned Receiving Address. Once Bitonic receives the payment, the received Euro amount is converted into Bitcoin at the current market price determined by Bitonic.
- User can aggregate buying via Bits up to a maximum amount. The aggregated Bitcoin amount is not stored and managed as described in article 7, section 1 of this User Agreement. Upon reaching the maximum amount set by the User or at the User's request, the Bitcoin is sent to a User-owned Receiving Address. Bitonic reserves the right to modify the mentioned maximum amount at any time and will notify the User of the change.
- If a Bits savings plan remains inactive for three months, the aggregated amount will be automatically sent to the User's designated Receiving Address.
- User can buy Bitcoin through OTC at a pre-agreed price (quote) as specified in article 13 of this User Agreement.
Article 10: Sell
- The User can sell Bitcoin through the Website from a hosted and/or self-hosted wallet owned by the User, not directly originating from an unregulated gambling platform, Darknet Market, or other illegal sources or resulting from a (direct) payment to the User. The quote for selling, as mentioned in this section, is visible at the time of selling and is limited in validity.
- If Bitcoin is not received by Bitonic in a timely manner, a payout cannot occur unless the User agrees to a new quote. In the event of delayed receipt of Bitcoin, Bitonic may opt to cancel the Transaction and return the Bitcoin to the provided Return Address, which may incur costs. These costs will be borne by the User.
- The User can sell Bitcoin from the Bitonic Portfolio using the App and/or Website. The quote for selling Bitcoin, as described in this section, is visible at the time of selling and is limited in validity.
- User can sell Bitcoin through OTC at a pre-agreed price (quote) as specified in article 13 of this User Agreement.
Article 11: Transactions and Trading
- Bitonic initiates a waiting period ("cooldown period") that can last up to 1 business day for the user's initial buying, where Bitcoin is sent to a hosted and/or self-hosted wallet owned by the user.
- The user complies with all relevant laws and regulations applicable to their Buying and Selling of Bitcoin.
- Bitonic may cancel or reject one or multiple (proposed) Transactions for reasons within its discretion. This could include, but is not limited to, situations like insufficient stock, limited demand or supply, extraordinary market conditions, or if the Transactions appear to violate the User Agreement. Bitonic is not liable for damages arising from the non-completion of one or multiple Transactions.
- In case of suspected fraud or abuse, Bitonic reserves the right to suspend Transactions until legitimacy is verified. If a transaction remains suspended for more than 60 days, Bitonic reserves the right to cancel it and proceed with the return of Euro or Bitcoin, as described in article 11 section 5 and article 11 section 6 of this User Agreement.
- If the Buying of Bitcoin cannot proceed due to the non-compliance with this User Agreement, Bitonic may refund the buying amount in Euro, minus the costs incurred by Bitonic, to the verified bank account of the User. These costs include, among others, the difference in value due to selling the reserved Bitcoin for the User at the current market price. The User cannot receive more Euro than their original buying amount.
- If the selling of Bitcoin cannot proceed due to the non-compliance with this User Agreement, Bitonic may refund the selling amount in Bitcoin, minus the costs incurred by Bitonic, to the provided Return Address. These costs include, among others, the difference in value due to buying back Bitcoin at the current market price. The User cannot receive more Bitcoin than originally received by Bitonic.
Article 12: BL3P
- The User can place an instruction on BL3P to Buy and/or Sell Bitcoin through a Limit Order or Market Order. An Order cannot be modified to a different type after it has been placed.
- A Market Order is executed immediately and cannot be canceled. The execution price of a Market Order can significantly differ from the indicated (last) price on BL3P. This can result from changes in both the demand and supply in the Order Book. Bitonic provides an indication of the execution price; however, this is not binding. Bitonic cannot provide an indication of when a Market Order will be executed, nor guarantee the execution of a Market Order.
- A Limit Order can be executed immediately in full or partially if there is sufficient demand and/or supply in the Order Book. If a Limit Order is not executed, it can be canceled. Bitonic cannot provide an indication of when a Limit Order will be executed, nor guarantee the execution of a Limit Order.
- Bitonic is responsible for the correct execution, processing, and settlement of Orders on BL3P. Orders are processed in the chronological order of arrival in the Order book. If there are any issues on BL3P, the User is entitled to support. The User must not take advantage of any errors and/or technical disruptions on BL3P. Bitonic may, at its discretion and retroactively, correct any errors and/or technical disruptions by modifying executed Orders and/or reversing them.
- The initiation and execution of Orders are subject to rules concerning execution, costs, and integrity. These rules are further detailed in the trading rules.
- User can withdraw and deposit Bitcoin via Lightning on BL3P, declaring the use of a hosted or self-hosted (Lightning) wallet owned by the User. In case the User does not respond promptly to a Lightning invoice on BL3P (i.e., a payment request via Lightning) or exceeds a limit, the withdrawal or deposit request may be delayed or cancelled. Bitonic cannot guarantee the availability of channels and liquidity for Lightning withdrawals and deposits. User acknowledges that every use of Lightning is highly experimental and at User's own risk.
- The User can link a BL3P Lightning card issued by Bitonic to their BL3P Account, as well as unlink the BL3P Lightning card. The User declares that the BL3P Lightning card is for withdrawing Bitcoin via Lightning for personal use, including but not limited to making payments and/or donations. Users can set limits for withdrawals via the BL3P Lightning card. Correct execution, handling, and settlement of withdrawals occur provided there is a sufficient balance in the User's Account and no limits are exceeded.
- The User is responsible for securely keeping the BL3P Lightning card issued by Bitonic. In the event of suspected fraud and/or abuse, Bitonic reserves the right to block the BL3P Lightning card. Should the User be aware or reasonably believe that their BL3P Lightning card has been stolen and/or could be misused, the User must immediately contact Bitonic at email@example.com. Bitonic is not liable for any damages arising from the loss of the BL3P Lightning card.
Article 13: OTC
- The User can Buy and/or Sell Bitcoin over the counter (OTC) at a pre-agreed price (quote).
- The User can initiate Transactions through a communication channel selected by Bitonic. The offer subsequently provided by Bitonic is indicative and does not encompass all applicable costs.
- If the User has confirmed the (intended) Transaction and Bitonic has received the Funds, the Transaction is carried out for the User by Bitonic. Subsequently, the User receives a confirmation from Bitonic which includes the costs of the Transaction.
Article 14: Fees and Costs
- Bitonic applies fees for buying and/or selling Bitcoin, along with depositing and/or withdrawing funds. These fees may cover trading costs, transaction fees, and service charges. The fees, as presented on BL3P, may be calculated in both Euro and Bitcoin. If the user doesn't specify a preference, the fees will be automatically determined and rounded up to the nearest whole Euro cent.
- On BL3P, the costs for buying and/or selling Bitcoin and depositing and/or withdrawing Funds are clearly outlined on the Website. When the User places an instruction through Market Order and/or Limit Order to buy and/or sell Bitcoin, the costs outlined in section 1 will be subtracted from the User's Account balance.
- For an urgent payment to the User, additional charges will apply.
- The trading fees, transaction costs, and service charges are subject to change at any time. The User acknowledges this and declares their acceptance of these changes in advance.
Article 15: Security
- The user is responsible for securing access to their Account, including but not limited to the following security measures:
- a secure internet connection;
- a unique and sufficiently complex password;
- an two-factor authentication app accessible only to the User;
- an up-to-date smartphone or computer, web browser with the latest security updates;
- a well-secured email account not involved in any data breach, equipped with two-factor authentication (2FA) accessible only to the User.
- The security measures mentioned in the previous section are indicative and no rights can be derived from them. Bitonic is not liable for any damages resulting from the user's failure to adhere to security measures that the User should reasonably have taken.
- Bitonic will never request a User's password or two-factor authentication (2FA) code through any communication channel. The User agrees to never respond to such requests.
- In the event that the User knows or reasonably suspects that their authentication credentials have been stolen or might be misused, the User must immediately contact us at firstname.lastname@example.org.
Article 16: Consumer Rights
- Within the European Union, every consumer holds a fundamental level of consumer rights. However, in certain situations and concerning specific goods or services, these rights might not apply. The services provided by Bitonic fall under one of those situations: a buying of Bitcoin through the App or Website cannot be revoked (canceled) due to the provision outlined in article 6:230p DCC.
Article 17: Privacy
- Bitonic collects and processes User's personal data when utilizing the services.
- The primary aim of collecting and processing personal data is to enable Bitonic to provide its services to Users in compliance with the applicable laws and regulations. The privacy and cookie statement applies to all uses of the services, and the User confirms their awareness of this.
Article 18: Complaints
- Users can file complaints at no cost via email@example.com. The complaints procedure is applicable.
- If the User does not provide additional information and/or documentation, Bitonic may decide not to process the complaint.
Article 19: API
- The API on the Website (https://bitonic.nl/) can only be used for exchanging information between Bitonic and the User. The API on the Website (https://bl3p.eu/) can be used for both exchanging information and automating Order execution. Bitonic is not liable in either case for incorrect or misinterpreted information provided by the User via the API.
- For the automated execution of Orders on BL3P, the User needs to generate an API key. The User acknowledges that the API key(s) provide access to the User's Account and is responsible for the secure use and storage of the API key(s).
- Bitonic provides documentation, including but not limited to reference implementations, for the use of the BL3P API. Bitonic does not guarantee the accuracy of this documentation (including reference implementations) and is not liable for incorrect information or misinterpretation by the User.
- The User understands that the BL3P API displays amounts in whole numbers in the smallest divisible unit of Bitcoin and Euro.
- The API and related services, as offered on the Website, may be subject to changes in functionality and supported versions. Bitonic endeavors to maintain the operation of older API versions, but cannot guarantee this. Bitonic reserves the right to make adjustments or remove specific features from older API versions.
Article 20: Liability
- The Foundation is never liable for any damage, named in the broadest sense of the word.
- Bitonic is never liable for indirect damage(s), named in the broadest sense of the word.
Additionally, as stated elsewhere in this User Agreement, Bitonic is never liable for any damage, in any form or context, arising from or in connection with:
- being unable or experiencing delayed usage of the Services through the App or Website due to technical glitches beyond Bitonic's control, including but not limited to disruptions and/or errors in the Bitcoin blockchain (and Lightning);
- delays in (providing) the Services due to (technical) malfunctions as mentioned in sub-item (a);
- apparent errors occurring in (the provision of) the Services, including but not limited to unrealistic (selling) prices;
- the inadvertent provision of incorrect information via the App, Website, or API (including reference implementations) by the User, including but not limited to entering incorrect Receiving Address(es), Return Address(es), Sending Address(es), and/or payment details;
- changes in and/or termination of Services and/or the overall termination of the User Agreement due to altered laws and/or regulations applicable to the Services;
- a decrease or increase in the value of Bitcoin and/or other technical risks related to crypto-assets, including but not limited to hacking;
- the insecure storage of Bitcoin on a user-owned hosted and/or self-hosted wallet's Receiving Address;
- abuse, unauthorized use, or incorrect use of the Services by the User, including but not limited to using the Services in a manner that contradicts the provisions of the User Agreement and/or other applicable laws and regulations related to the Services.
In the event that Bitonic could be liable for damage incurred by the User, the extent of that liability is always limited to a maximum amount of 1,000 (one thousand) Euro.
- If and insofar as Bitonic might be liable for damages incurred by the User, any claim for compensation is void if not brought before the competent court within 12 (twelve) months after the facts on which the claim is based were known or could reasonably have been known to the User.
- If Bitonic loses Bitcoin or means of access to the Bitcoin due to an attributable Incident, the liability is limited to a maximum of the market value of the lost Bitcoin at the time it was lost.
- If the User does not qualify as a consumer, the User indemnifies Bitonic and the Foundation against all damages, liabilities, and/or other negative consequences suffered or initiated by third parties as a result of the User's use of the Services in a manner contrary to the provisions of the User Agreement, other applicable laws and regulations governing the Services, and/or due to deliberate, fraudulent, and/or unlawful actions by the User.
- If force majeure, as per article 6:75 DCC, occurs, Bitonic is entitled to suspend its obligations towards the User and/or terminate the User Agreement. As a result of the termination of the User Agreement, the User has no right to compensation.
Article 21: Change Clause
- Bitonic reserves the right to unilaterally modify the User Agreement, complaints procedure, privacy and cookie statement, responsible disclosure, trading rules, and risk disclosure.
- Changes will be communicated to the User via email and come into effect thirty (30) days after the announcement.
- If the User continues to use the Services after the changes come into effect, it constitutes the User's acceptance. If the User does not agree with the changes, the User has the option to terminate their Account as per Article 4 of this User Agreement.
Article 22: Concluding Provisions
- The User is responsible for declaring and paying taxes, levies, and similar charges related to the use of the Services.
- If one or more provisions of this User Agreement or its Appendices are found to be void, the remaining provisions of the User Agreement and Appendices shall remain in full force.
- The administration of Bitonic and the Foundation constitutes complete and binding evidence of the nature and extent of the legal relationship between Bitonic, the Foundation, and the User.
- User cannot transfer their rights or obligations obtained from, or granted to them under, the Service or otherwise from the execution of the User Agreement to a third party without prior written consent obtained from Bitonic. This clause has both contractual and proprietary effect as provided for in article 3:83, paragraph 2 DCC.
- User hereby gives prior consent to Bitonic and the Foundation to transfer all rights and obligations from the User Agreement, along with any related legal actions, to third parties, either through novation (article 6:159 DCC) or separately (article 6:155 DCC). Bitonic or the Foundation remains responsible towards the User for the fulfillment of the User Agreement until the User has been informed about the transfer and the legal entity to whom the rights and/or obligations have been transferred.
- If Bitonic or the Foundation do not fully exercise their rights, this does not imply a waiver of those rights, nor does it release the User from their obligations in that context.
- The Services, the User Agreement, Annexes, related agreements, and their execution are subject exclusively to Dutch law.
- Any disputes arising from or related to (the execution of) the Services, the User Agreement, Annexes, and related agreements or the legal relationship between Bitonic, the Foundation, and the User shall exclusively be submitted to and settled by the competent court in Amsterdam.