By using this Site, and using our Exchange Service, you ("You, Your or Yourself") are agreeing to accept and comply with the terms and conditions of use stated below ("Terms and Conditions"). You should read the entire Terms and Conditions carefully before you use this web site ("Site") or any of the services of this Site. As used herein, "BitPass" refers to the company BitPass Pty. Ltd., including without limitation thereby, its owners, directors, investors, employees or other related parties. Depending upon context, "BitPass” may also refer to the services, products, Site, content or other materials (collectively, "Materials") provided by BitPass. It is your responsibility to follow those rules and laws in your country of residence and/or country from which you access this Site and Services. As long as you agree to and actually comply with these Terms and Conditions, BitPass grants to the Exchange Service. IF YOU DO NOT ACCEPT THE TERMS AND CONDITIONS OUTLINED IN THIS AGREEMENT, DO NOT ACCESS THIS SITE AND DO NOT USE THIS SERVICE. By using the Exchange Service, You expressly represent and warrant that you have accepted these Terms.
The trading of digital currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - digital or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Bitcoin trading also has special risks not generally shared with conventional currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Bitcoin is a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective measure to protect the value of Bitcoin in a crisis or issue more currency. Instead, Bitcoin is an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals. Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity. Bitcoin trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin or Ether because of unexpected changes imposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems: if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent any transactions from settling. There may be additional risks that we have not foreseen or identified in our Terms and Conditions. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading digital currency. We use our banking providers in order to receive client moneys and making payments. Our banking providers do not transfer Bitcoin, exchange Bitcoin, or provide any services in connection with Bitcoin.
Unless otherwise specified, all Materials on this Site are the property of BitPass and are protected by copyright, trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices. The trademarks, service marks and logos of BitPass and others used in this Site ("Trademarks") are the property of BitPass and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to BitPass. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.
The Exchange Service operated by BitPass allows you to buy and sell Bitcoin to us at competitive rates. You must follow the payment procedure set below.
You will receive an invoice (evidence of transaction) that states the amount of Bitcoin You are buying, the AUD or CNY You are paying, and the corresponding exchange rate. You will then have the option to pay via cash deposit or bank transfer to our CBA or NAB business accounts. We will send you the agreed Bitcoins to your desired address immediately once the money is available in our account. You will be required to send us the Payment Receipt for confirmation.
Cash deposits may be done at any CBA or NAB branch or smart instant deposit ATMs (24/7). These deposits will instantly become available in our accounts and so the Bitcoins will be sent to your desired address immediately once the Payment Receipt is sent.
Bank transfers may take 1-2 business days in order for the funds to become available in our accounts, especially if it’s a transfer between different banks. Transfers within the same bank may become faster after a few transactions. The Bitcoins will only be sent to your desired address once the money is available in our account.
It has come to our attention that Australian banks are often wary of their customers making investments in Bitcoin. Whilst this is an unfortunate and dubious concern, it is a reality, and something that we need to stay abreast of. As a consequence we would like to advise all of our customers to never explicitly use the word “Bitcoin” or “BTC” in any transaction description as this is likely to draw unwanted attention and may result in unexpected bank account closures.
You will receive an invoice (evidence of transaction) that states the amount of Bitcoin you are selling, the AUD or CNY You will be receiving, and the corresponding exchange rate. It will also state our Bitcoin address and your account details. We will transfer you funds through our CBA or NAB business accounts.
You agree that BitPass may cancel a transaction if you have not responded within an hour of initiating a trade or fail to pay. If you wish to resume a trade, the amount will be recalculated at the latest exchange rate. Members also agree that we will terminate trade if we think that they are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently with the letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Members use of Exchange Service for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another Member's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms and Conditions, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by BitPass, acting in its sole discretion. Upon termination, Members shall communicate a valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member. Bitcoin or Ether may be transferred to a valid bank account only after conversion into a currency. BitPass shall transfer the currencies as soon as possible following the Member's request in the time frames specified by BitPass. BitPass will send to you the credit balance of your account, however in circumstances a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. We will use reasonable efforts to ensure that such charges are disclosed to you prior to sending your payment, however where they cannot be avoided, you acknowledge that these charges cannot always be calculated in advance, and that you agree to be responsible for such charges.
All services are provided without warranty of any kind, either express or implied. We do not represent that this Site will be available 100% of the time to meet your needs. We will strive to provide you with the Service as soon as possible but there are no guarantees that access will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information. We will use reasonable endeavours to ensure that the Site can normally be accessed by you in accordance with these Terms and Conditions. We may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.
To the extent permitted by law, BitPass will not be held liable for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or wilful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personal injury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded. Subject to the foregoing, BitPass's aggregate liability in respect of claims based on events arising out of or in connection with any single Member's use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of Commission that may be due and payable in respect of such Account; or (b) the amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
To the full extent permitted by applicable law, you hereby agree to indemnify BitPass, and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of BitPass's Sites, Your use of the Service, or from your violation of these Terms and Conditions.
If We are unable to perform the Services outlined in the Terms and Conditions due to factors beyond our control including but not limited to an event of Force Majeure, change of law or change in sanctions policy we will not have any liability to You with respect to the Services provided under this agreement and for a time period coincident with the event.
BitPass reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms. Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms. We may revise these terms of use at any time by amending this page. We will email you using the email address you most recently provided to us to advise you that our terms have changed. By continuing to access our Site once the revised terms have become effective, you agree to be bound by the revised terms. In the event that you do not agree to the revised terms, you must not access our Site or our Service and you should contact us at the following email address to close your BitPass Account: info@bitpass.com.au Please check this page from time to time to take notice of any changes we made, as they are binding on you.
If you have any questions relating to the Terms of Use, your rights and obligations arising from these terms and/or your use of the Site and the Service, your Account, or any other matter, please contact info@bitpass.com.au