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Terms & Conditions

In short the terms and conditions for buying and selling bitcoins via our site are as follows:

  • You buy the virtual currency entirely at your own risk (we do not provide advice or sales to you).
  • You only carry out transactions for yourself and from/to your own wallet.
  • You are of age, residing in Europe (EEA and Switzerland) and not a so-called 'US Person'.
  • You declare and explain on request that the transactions (both in money and in virtual currency) are legitimate in nature. In the event of reasonable doubt, we can suspend or cancel the transaction.
  • You are aware that Bitonic B.V. is required, under anti-money laundering regulations, to identify you, monitor transactions and to provide data on suspicious transactions to the authorities.

Definitions

In these terms of use, the intended meaning of the following definitions is as follows, unless expressly stated otherwise:

  • Bitonic B.V.: the provider of exchange services in virtual currency having its registered office at Hoogte Kadijk 143F 8, 1018 BH in Amsterdam
  • Bitonic: Service allowing customers to buy and sell bitcoins directly with their own wallet.
  • Bits: purchase of bitcoins to the customer's predetermined receiving address, initiated on the basis of the incoming SEPA payment.
  • Receiving address: A receiving address is either a bitcoin address provided by the customer or the bitcoin address that is generated by Bitonic B.V. by using an extended public key (hereinafter referred to as: xpub) provided by the customer.

Buying Bitcoins through the available payment methods

When you purchase bitcoins through Bitonic or Bits, you agree to the following terms and conditions:

  1. The purchase concerns digital goods (bitcoins) without a fixed value. When purchasing you agree to the value of the bitcoins as determined by Bitonic at that moment in time. When making a Bits purchase, the value is determined at the moment the money is received by us, provided the account is active, the customer is verified, and the spending limit is not exceeded.
  2. You are aware of the fact that the value of the purchase can fluctuate considerably. There is no guarantee for any value retention in the future.
  3. The delivery of your bitcoins takes place through providing a signed bitcoin transaction to the provided receiving address and broadcasting it to the Bitcoin network. We guarantee that we successfully create and provide the signed transaction and that we will send this transaction out onto the bitcoin-network as soon as possible after receipt of payment. However, we have no influence over the further handling of the transaction by the network and the miners. In the exceptional case that something goes wrong during the processing of the transaction by the network, you are entitled to the support and assistance of Bitonic B.V.
  4. Bitcoin exchange rates are subject to fluctuations. The final amounts (in euros and bitcoins) are calculated by Bitonic at the moment the payment procedure is initiated and they will appear in an overview at your bank's check-out page before you make your payment. Bits calculates the bitcoin equivalent of the euro sum according to the exchange rate at the moment immediately after the first receipt of crediting by our bank (to the IBAN account number designated by us).
  5. Payments made using the available payment methods, as well as a bitcoin transaction, cannot be undone and are irreversible. Entering in the correct information (receiving address, amounts) is your responsibility.
  6. You should provide a receiving address to which you have access (your own wallet). It is not allowed to use our services for a direct payment to a webshop or other third party. Bitonic B.V. reserves the right to block transactions to third parties and withhold any costs incurred.
  7. In the case of suspected fraud or abuse, Bitonic B.V. reserves the right to suspend transactions from taking place until the legitimacy of the transactions has been verified.
  8. Because of exchange rate fluctuations, Bitcoins cannot be returned or exchanged. If you wish to abandon your purchase you can sell the bitcoins to Bitonic for the current Bitonic exchange rate.
  9. Bitonic and Bits presumes transacting with private consumers and therefore does not provide an invoice as standard. Business sales are possible and an invoice can be provided upon request. Input tax cannot be deducted.
  10. Bitonic B.V. does not offer any guarantee that purchases can be bought (back) in the future, nor provide any guarantees on the amount offered in exchange for the bitcoins.
  11. You declare that you are at least 18 years of age, residing in Europe (EEA and Switzerland) and that you are not a 'US Person'. You declare that you truthfully provide all requested information to Bitonic.
  12. You declare that the funds used for the transaction have been obtained in a legitimate manner and that you have no knowledge of a possible illegal origin. In some cases Bitonic will check the source of funds and, if necessary, may ask for additional information. Bitonic retains the right to temporarily suspend a transaction until its legitimacy can be verified. If we seriously doubt the legitimacy of the transactions, we may undo it according to article 15 of our these terms and conditions. We may also decide to end the customer relationship.
  13. The secure storage of your bitcoins is your own responsibility. Advice given by Bitonic B.V. is purely informative and does not offer any guarantee.
  14. When placing one or more orders the requirement to complete the verification process always applies. Bitcoins can only be delivered after the verification has been completed successfully. Buyers cannot dissolve the purchase agreement during the verification process due to exchange rate fluctuations. See also article 8.
  15. If no purchase can take place due to non-compliance with these conditions, the purchase amount minus the costs incurred by us will be returned. These costs include the exchange rate difference arising from the sale of the bitcoins reserved for you at the price at the time of cancellation of the purchase.
  16. In the event of force majeure, bank failure or other unusual / unforeseen circumstances where your payment could not be processed in time, Bitonic B.V. has a decisive vote and can decide to cancel the order and refund the purchase amount.
  17. You declare you are aware that Bitonic B.V. is required, under anti-money laundering regulations, to identify you, monitor transactions and to provide data on suspicious transactions to the authorities. You agree to our privacy policy.
  18. Dutch law is applicable to these terms and conditions.

Selling bitcoins to Bitonic

When you offer bitcoins to Bitonic you agree to the following conditions:

  1. The sale concerns digital goods (bitcoins) without a fixed or verifiable value. When selling you agree to the value of the bitcoins that Bitonic determines at that moment. You are aware of the fact that the value of the bought product can fluctuate.
  2. You will send your bitcoins from your own wallet to the bitcoin address provided by Bitonic We can only process the payment as soon as the full bitcoin amount has been received and the transaction(s) has/have been confirmed by the network.
  3. Bitcoins must be received within 5 to 10 minutes after initiation of the sales process, otherwise we will have to return them to you without payment.
  4. Paymouts are done every business day shortly after noon (12:00 ECT). The payment will therefore be offered to your bank no later than the first business day after your bitcoins have been received. Bitonic B.V. has no influence over any delays caused by the bank.
  5. Bitonic B.V. reserves the right to return bitcoins. For example, when the transaction has not been confirmed by the bitcoin network within a reasonable time (1 hour). In order to prevent this from happening you will need to include a transaction fee that is sufficient for the miners to include the transaction in a block.
  6. The bank account number needs to be in your personal name or in the name of a company of which you have legal capacity. It is not allowed to use an anonymous bank account number for, for example, pre-paid cards. In that case, no payment will take place.
  7. Providing accurate information (receiving address and payment information) is your own responsibility. Any damages incurred by providing inaccurate information cannot be recovered from Bitonic B.V.
  8. When amounts are returned to our bank account, for example when inaccurate information has been entered (IBAN, account holder), a 7,50 euro administration fee will be deducted from a new payment order.
  9. You declare that no input tax has been deducted from the offered bitcoins.
  10. You declare that you are at least 18 years of age, residing in Europe (EEA and Switzerland) and that you are not a 'US Person'.
  11. You declare that you have legitimately obtained the offered bitcoins, that the bitcoins are your property and originate from a wallet you have access to. In some cases Bitonic B.V. will check the origin of the bitcoins and additional information may be requested.
  12. In case of possible fraud/abuse Bitonic B.V. retains the right to temporarily suspend a transaction until its legitimacy can be verified. If we seriously doubt the legitimacy of the transaction, we may undo it according to article 16 of our these terms and conditions. We may also decide to end the customer relationship.
  13. Bitonic only accepts bitcoin transactions. If you accidentally send another cryptocurrency to one of our bitcoin addresses during a sell order, we will charge you 200 euros if you wish to recover those coins from our wallet. Bitonic B.V. cannot guarantee that every coin is recoverable from our wallet.
  14. Bitonic B.V. periodically checks customers that make frequent or large transactions and can ask for additional information if necessary. Bitonic B.V. herein retains the right to temporarily suspend a transaction.
  15. You declare to be the holder of the provided account number and that you truthfully enter and provide all required and requested information.
  16. When no payments can take place as a result of non-observance of these conditions, the bitcoins to the value of the payout amount will be returned according to the Bitonic purchase price at the time of the return.
  17. In the event of force majeure, bank failure or other unusual / unforeseen circumstances where your payment could not be processed in time, Bitonic B.V. has a decisive vote and can decide to cancel the order and refund the bitcoins.
  18. You declare you are aware that Bitonic B.V. is required, under anti-money laundering regulations, to identify you, monitor transactions and to provide data on suspicious transactions to the authorities. You agree to our privacy policy.
  19. Dutch law is applicable to these terms and conditions.

Partner-conditions

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Last change: 23 June 2022

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