Effective Date: June 5, 2022
Version No.: 0.0.1
By accessing or using the Site, App or Services or any content on any of them (“BitsFinancial Content”) you agree to these Terms, which form a legally binding agreement between you and Bits Financial. If you do not agree to these Terms, please do not access or use the Site, App or Services.
THE TERMS CONTAIN A CLASS ACTION WAIVER AND BINDING ARBITRATION PROVISION. PLEASE REVIEW SECTION 24 BEFORE ACCEPTING THESE TERMS.
1. What Services are Covered by the Terms?
The “Services” are a platform that allows you to round your credit card, debit card, or other checking/savings account transactions and purchases to the next dollar to buy certain supported digital currencies (“Supported Digital Currency”) you design ate through one or more third-party cryptocurrency exchanges (“Exchanges”). The Services enable you to connect your bank account directly with your account on the designatedExchange to facilitate such purchases.
2. The Services Do No Provide Investment Advice or Brokerage.
Bits Financial and the Services do not provide investment, tax or legal advice, nor do we broker trades on your behalf. You are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. We may provide educational information about Supported Digital Currency, as well as digital currencies not supported by the Sites, App and Services in order to assist users in learning more about such digital currencies. Information may include, but is not limited to, blog posts, articles, links to third-party content, news feeds, tutorials and videos.The information provided on the Site or any third-party sites does not constitute investment advice, financial advice, trading advice or any other sort of advice, and you should not treat any of the Site’s content as such. We do not recommend that any digital currency, including any Supported Digital Currency, should be bought, earned, sold or held by you. Before making the decision to buy, sell or hold any SupportedDigital Currency, you should conduct your own due diligence and consult your financial advisors before making any investment decision. Bits Financial will not be held responsible for the decisions you make to buy, sell or hold Supported Digital Currency based on the information provided by us.
3. Who is Responsible for Taxes?
You. It is your sole responsibility to determine whether, and to what extent, any taxesapply to any transactions you conduct through the Services or App.
4. Digital Currency Risks
Cryptocurrencies, including the Supporting Digital Currencies, are not insured by the Federal Deposit Insurance Corporation (FDIC), or by any other agency, and the use of crypto currencies may carry financial risk. There is a risk that cryptocurrencies will decrease in value or that changes in the law may affect the ability to conduct transactions with cryptocurrencies. We do not recommend, endorse or make any warranties about any particular cryptocurrency.
Any decision to deposit or withdraw a Supported Digital currency is solely your decision and we shall not be liable for any loss suffered or be responsible for any damages, claims, losses, accidents, costs or other expenses (including, without limitation, attorneys’ fees or the costs of any claim or suit), nor for any incidental, general or consequential damages.
5. Can We Change the Terms or the Services?
Yes, as we grow and change, and the Services or applicable laws change, these Terms may change as well. We reserve the right to change these Terms at any time in our sole discretion. If we make changes, we’ll notify you by sending an email, or by posting a prominent notice on the Site or App.
6. Who can use the Services?
7. Where can I use the Services?
The Services are only available in the United States. By accessing or using theServices, you affirm that you are a resident in the jurisdiction where the Services are provided and using the Services in a permissible jurisdiction. The Services are not currently available to non-U.S. residents.
You must register and create an account with us in order to access and use theServices. You further agree to provide us information regarding your bank account and any account with an Exchange, including any crypto wallet you have created so that we can access the same on your behalf. You agree to provide us complete and accurate information in registering for an account, and to update that information promptly if it should change.
You are responsible for maintaining adequate security and control of any and all username, IDs, passwords or any other codes that you use to access your account.
You are solely responsible for the activities of anyone accessing the Services using your password, even if you did not authorize the activities. You must notify us email@example.com immediately of any unauthorized use or suspected unauthorized use of your password.
If you know or suspect your password has been compromised, you must promptly change your password. Even if you give us notice, you could be held liable for losses incurred by us or another party due to someone else using your account or password.
9. What do we do with your personal information?
10. What are my rights to access and use the App and Services?
Provided you are in compliance with these Terms, Bits Financial hereby grants you anon-exclusive, non-transferable, revocable license to download and use one copy of theApp for your personal, non-commercial use and only on an approved Apple or Android device (“Device”) as permitted by the applicable App Store Terms and in accordance with these Terms and to access the Services through the App (“User License”). All other rights in the App and Services are reserved by Bits Financial. In the event of your breach of these Terms, we will be entitled to terminate the User License immediately.
You agree not to (i) modify, adapt or translate the App or Services or attempt to reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of the App or Services; (ii) remove any copyright notice, trade mark, legend, logo or product identification from the App or Services; (iii) modify, translate or prepare derivative works of the App or Services, Bits Financial Content, or any portion thereof;(iv) make any commercial use of the App; or (v) rent, lease, distribute or lend the App orServices or Bits Financial Content to third parties.
11. App Store Terms
The App may be available for download from one or more platforms, such as Apple iTunes or Google Play (“App Stores”). Your download, installation, access to or use of the App is also bound by the terms and conditions and privacy policies of the applicableApp Store (“App Store Terms”). If there is any conflict between these Terms and the App Store Terms, then these Terms will prevail.
This App is independent of and is not associated, affiliated, sponsored, endorsed or in any way linked to any App Store. You and we acknowledge that these Terms are entered into between you and us only, and not with any App Store, and we, not the AppStore, are solely responsible for the App and the content thereof to the extent specified in these Terms.
You and we acknowledge that we, not the relevant App Store, are responsible for addressing any claims of you or any third party relating to the App or your possession and/or use of the App, including, but not limited to: (i) any claim that the App fails to conform to any applicable legal or regulatory requirement; and (ii) claims arising under consumer protection or similar legislation.
You and we acknowledge and agree that the relevant App Store, and that App Store’s subsidiaries, are third-party beneficiaries of these Terms, and that, upon your acceptance of these Terms, that App Store will have the right (and will be deemed to have accepted the right) to enforce these Terms against you as a third-party beneficiary thereof.
By using the Services, you consent to receiving communications from us electronicallyand confirm that you do not need any other communications in writing. You agree thatwe may contact you and provide all necessary notifications either through pushnotifications on the App, by email at your registered email address or by calling yourphone number as provided in your account. All notices to us shall be sent to thefollowing address (provided we may change this address by amending the Terms):firstname.lastname@example.org.
13. How do Bits Financial transactions work?
You will connect your Bits Financial account to your bank account or credit card or debit card account (“Linked Accounts”). When you make an eligible purchase on a Linked Account, we will calculate an amount that is the difference between the amount of the purchase and the next whole dollar (“Bits Financial Credit”), multiplied by any “boost” values you dictate within the App. The Bits Financial Credit is then applied to your BitsFinancial account. You then set up your Bits Financial Account to use the amount of theBits Financial Credit to purchase Supported Digital Currency.
For example, for a $5.65 transaction, we round up to $6.00, and there is a 35 cents BitsFinancial Credit. Once the total Bits Financial Credits accumulated for you reaches at least $25 (or an alternative value you specify within the application), we process a $25charge against your Linked Account and exchange the $25 for Supported DigitalCurrency per your pre-set instructions.
14. Linking of Bank Accounts and Other Payment Methods
You can link or unlink a U.S. bank account and/or a credit or debit card you hold with a third-party financial institution (each a “Third-Party Financial Institution”) to your BitsFinancial account as a payment method. You authorize us to collect data about you from Third-Party Financial Institutions to enable your Exchange to bill your designated payment mechanism in connection with purchases of Supported Digital Currency usingBits Financial Credits. By using the Services, you hereby authorize us to act as your agent for the purposes of initiating and settling financial transactions with your LinkedAccount or payment method you hold with a Third-Party Financial Institution.
You agree to keep your payment method information current. If this information changes, we may update it as directed by your bank without any action on your part.
15. We do not have custody of or control your account
You retain complete control and custody of the Bits Financial account. We do not have or retain direct custody or control over funds or Supported Digital Currency in your Bits Financial account, nor do we directly transmit funds or Supported Digital Currency to or from your Bits Financial account. You authorize us as your agent to initiate transactions with Exchanges using funds in your Linked Accounts to facilitate transactions forSupported Digital Currency. You should direct any issues relating to any errors in transactions to the Exchange in which you have an account, and not Bits Financial.
16. Plaid - Access to financial information
17. Account and Transaction Errors
We are not responsible for errors in transactions that occur on the Exchanges or in your bank or credit card accounts; if you notice an error you should contact the Exchange or your banking or credit card provider directly, depending on the mature of the error. If you believe the error was the result of our incorrect instructions or failure to instruct theExchange as directed by you, please contact us at email@example.com and we will investigate the error and remediate the error if we determine if was caused by us. You can always update your contact information and details regarding the type of SupportedDigital Currency you wish to purchase and the frequency of such purchase through yourBits Financial account.
Bits Financial currently does not charge any fees for its Services, but reserves the right to charge fees or otherwise change its fee structure at any point. Any fee changes will be communicated to you by posting the new fee schedule on the Site or notifying you at the email address in your Bits Financial account. Your continued use of the Services after any fee change(s) comes into effect constitutes your agreement to pay the fees.Except as required by law, fees are non-refundable.
You may be charged a fee by your Exchange for each transaction you may make forSupported Digital Currency using the Services. Please check with your Exchange fortheir applicable fees.
19. Asset storage
Supported Digital Currency will be held in digital wallets in the custody of your connected Exchange. Please review their terms and policies for more information. BitsFinancial does not store, create or host any wallets, and is not responsible for any errors, losses or other issues relating to the wallet you may use with the Services.
20. Prohibited Use
You may not use the Site, App or Services:
• for illegal or unlawful or malicious activities, or for activities that we deem improper for any reason whatsoever in our sole judgment, including, without limitation, the laundering of proceeds of any unlawful activity, the financing of terrorism, the commission of fraud or market manipulation, the harassing or making disparaging comments to any user of the Site, Services or App.
• to impersonate any person or entity, falsely state or otherwise misrepresent your affiliation with any person or entity, or use or provide any fraudulent, misleading or inaccurate information;
• to defame, abuse, harass, stalk, intimidate, bully, threaten or otherwise violate the rights of others, including without limitation others’ privacy rights or rights of publicity;
• to access or use (or attempt to access or use) another user’s account without permission, or solicit another user’s login information;
• to transmit any software or materials that contain any viruses, worms, trojan horses, defects or other items of a destructive nature;
• to modify, adapt, sublicense, translate, sell, reverse engineer, decompile or disassemble any portion of the Site, App or Services;
• to “frame” or “mirror” any portion of the Site, App or Services;
• to use any robot, spider, site search/retrieval application or other manual or automatic device or process to retrieve, index, “data mine” or in any way reproduce or circumvent the navigational structure or presentation of the Site,App or Services;
• to harvest or collect information about or from other users of the Site, App orServices;
• to probe, scan or test the vulnerability of the Site, App or Services, nor breach the security or authentication measures on the Site, App or Services or take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Site, App or Services, such as a denial of service attack;
• to send or otherwise post unauthorized commercial communications (such as spam);
• to engage in unlawful multi-level marketing, such as a pyramid scheme;
• post content that is hateful, threatening or pornographic, incites violence or contains nudity or graphic or gratuitous violence;
• access or use any portion of the Bits Financial Content if you are a direct or indirect competitor of Bits Financial, or provide, disclose or transmit any portion of the Bits Financial Content to any direct or indirect competitor of the Company;
• use or distribute any Bits Financial Content to directly or indirectly create or contribute to the development of any database or product; or
• facilitate or encourage any violations of this Section 20.
22. Warranties, Disclaimers and Limitations of Liability
ALTHOUGH BITS FINANCIAL MAKES EFFORTS TO PROVIDE AN ACCURATE SITE,APP SERVICES AND BITS FINANCIAL CONTENT, THE SITE, APP, SERVICES AND BITS FINANCIAL CONTENT, ALL RESPECTIVE PARTS THEREOF ARE PROVIDED“AS IS,” “WITH ALL FAULTS” AND “AS AVAILABLE”. BITS FINANCIAL AND ITS AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND THIRD PARTY SUPPLIERS (COLLECTIVELY, THE “COMPANY PARTIES”) DISCLAIM ANY AND ALL REPRESENTATIONS, WARRANTIES OR GUARANTEES OF ANYKIND, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION (1) AS TO TITLE, MERCHANTABILITY, FITNESS FOR ORDINARY PURPOSES AND FITNESS FOR A PARTICULAR PURPOSE AND NON INFRINGEMENT, (2) THE QUALITY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE SITE, THE APP, SERVICES AND BITS FINANCIAL CONTENT, (3) THOSE ARISING THROUGH COURSE OF DEALING, COURSE OF PERFORMANCE OR USAGE OF TRADE, (4) THE SITE, SERVICES AND APP AND BITS FINANCIAL CONTENT CONFORMING TO ANY FUNCTION, DEMONSTRATION OR PROMISE BYANY COMPANY PARTY AND (5) THAT ACCESS TO OR USE OF THE SITE, THE APP,SERVICES OR BITS FINANCIAL CONTENT WILL BE UNINTERRUPTED, ERROR FREE OR COMPLETELY SECURE. ANY RELIANCE UPON THE SITE, THE APPLICATION AND BITS FINANCIAL CONTENT IS AT YOUR OWN RISK AND BITS FINANCIAL MAKES NO WARRANTIES. IF YOU DOWNLOAD THE APP OR BITS FINANCIAL CONTENT FROM THIS SITE OR SERVICES, YOU DO SO AT YOUR OWN DISCRETION AND RISK. YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR MOBILE DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH CONTENT.
Your reliance upon the information available on the Sites, Services or App or located through utilization of the Services and your interactions with third users identified through the Services, including the Bits Financial Content, is SOLELY AT YOUR OWN RISK. Your interactions with other users or advertisers, including payment and delivery of goods or services, and any other terms, conditions, warranties or representations associated with such dealings, are solely between you and the other person or entity, and you agree that we will not be responsible for any loss or damage incurred as the result of any such dealings or with respect to any other person’s or entity’s use or disclosure of your personally identifiable information. If there is a dispute between you and any third party, we are under no obligation to become involved, and you agree that you will manage any such dispute or disagreement directly, and that you will not make any claims against us with respect to products or services purchased through your use of the Services. The Services may be subject to limitations, delays and other problems inherent in the use of the Internet, mobile devices and electronic communications. We are not responsible for any delays, delivery failures or other damages resulting from such problems. We do not guarantee the Site, the App or Services will be operable at all times.
Limitation of Remedies. IN NO EVENT SHALL BITS FINANCIAL BE LIABLE FOR ANY DIRECT, INDIRECT, PUNITIVE, INCIDENTAL, SPECIAL, CONSEQUENTIAL DAMAGES OR ANY DAMAGES WHATSOEVER INCLUDING, WITHOUT LIMITATION,DAMAGES FOR LOSS OF USE, DATA OR PROFITS, ARISING OUT OF OR IN ANYWAY CONNECTED WITH THE USE OR PERFORMANCE OF THE SITE,APPLICATION OR BITS FINANCIAL CONTENT, WITH THE DELAY OR INABILITY TO ACCESS OR USE THE SITE, THE APP OR THE SERVICES, THE PROVISION OF OR FAILURE TO PROVIDE SERVICES, OR FOR ANY CONTENT, SOFTWARE,PRODUCTS AND SERVICES MADE AVAILABLE OR OBTAINED THROUGH THE SITE, APP OR SERVICES OR BITS FINANCIAL CONTENT, OR OTHERWISE ARISING OUT OF THE USE OR ACCESS OF THE SITE, USE OF THE APP OR USEOF THE SERVICES, WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, EVEN IF BITS FINANCIAL HAS BEEN ADVISED OF THE SAME.
IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SITE, APP OR SERVICES OR BITS FINANCIAL CONTENT, OR WITH ANY OF THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SITE AND SERVICES AND UNINSTALLING THE APP.
Some states limit or restrict disclaimers of warranties or limitations or exclusions of liability and so the foregoing provisions may not apply to you.
23. How are disputes resolved?
If you have a complaint, please contact us at firstname.lastname@example.org so that we can first attempt to resolve the matter in good faith. In the event that we have not been able to resolve a dispute after 60 days, you agree to follow the arbitration procedure outlined in Section 24 below.
24. Choice of Law, Dispute Resolution, Arbitration and Class Action Waiver
These Terms will subject to and interpreted in accordance with the laws of the State of Nevada, without regard to its choice of law principles.
Any dispute, claim or controversy arising out of or relating to the App, Site or Services or these Terms or the breach, termination, enforcement, interpretation or validity thereof(including as to the determination of the scope or applicability of this agreement to arbitrate) (“Dispute”) will be determined by arbitration in accordance with the procedures in this paragraph, which will be the sole procedures for the resolution of any Dispute.
Any Dispute will be submitted to final and binding arbitration with the Judicial Arbitration and Mediation Service (“JAMS”) in Las Vegas, Nevada. The arbitration will be conducted pursuant to the JAMS Streamlined Arbitration Rules and Procedures (the“Rules”) then in effect, except as may be otherwise stated herein, before a neutral arbitrator appointed according to the Rules. The remedies available to the parties under applicable law remain available to the parties in arbitration. The arbitrator will provide a detailed written statement of decision, which will be part of the arbitration award and admissible in any judicial proceeding to confirm the award. The parties to the Dispute shall bear all arbitration costs equally to the extent permitted by applicable law. Except as may be necessary to enter judgment upon the award or to the extent required by applicable law, all claims, defenses and proceedings (including the existence of aDispute and the fact that there is an arbitration proceeding as well as the hearing itself)will be treated in a confidential manner by the arbitrator and all those involved in the proceeding. This arbitration provision will also be subject to the Federal Arbitration Act.
Any Dispute relating to the arbitration presented to a court will be filed under seal to the extent permitted by law. An arbitration award rendered pursuant to this paragraph will be final and binding on the parties and may be submitted to a court of competent jurisdiction for entry of a judgment thereon, though the parties must maintain the confidentiality of the arbitration and/or award in connection therewith, including by filing the arbitration award under seal, to the extent permitted by law. Regardless of the foregoing, Bits Financial shall always have the right to seek and obtain temporary or preliminary injunctive relief or specific performance in any court of competent jurisdiction. This dispute resolution provision shall survive any expiration or termination of your relationship with Bits Financial.
You and Bits Financial waive all rights to a trial by jury in any action or proceeding involving any Dispute in any forum.
Any and all Disputes shall be arbitrated on an individual, non-class and non representative basis only, and shall not be consolidated or joined with or in any arbitration or other proceeding involving a Dispute of any other party. You and BitsFinancial waive any right to have any Dispute arbitrated or adjudicated as a class or representative action or in any other form other than on an individual basis. You andBits Financial further agree that the arbitrator shall have no authority to arbitrate anyDispute as a class or representative action or in any other form other than on an individual basis. The arbitrator shall have power and authority to award only individual, non-class, and non-representative legal and equitable relief available in the courts of theState of Nevada. Notwithstanding any provision of the JAMS’ rules and procedures, only the federal and state courts, and not the arbitrator, shall have the power to determine compliance with this paragraph, including the interpretation, validity, and enforceability of each of the foregoing sentences.
You agree that Bits Financial may seek any interim or preliminary relief from a court of competent jurisdiction in Las Vegas, Nevada necessary to protect its rights or property pending the completion of arbitration.
If any Dispute is determined not to be subject to arbitration, the exclusive jurisdiction and venue for proceedings concerning such Claim shall be the federal or state courts of competent jurisdiction sitting within Las Vegas, Nevada (the “Forum”) and the parties hereby waive (i) any right to a trial by jury with respect to any Dispute in such proceeding, (ii) any argument that the Forum or any court within it does not have personal jurisdiction and (iii) any argument that the Forum is not appropriate or convenient.
If either party initiates a proceeding involving any Dispute other than (i) an arbitration in accordance with this Section or (ii) a proceeding in small claims court permitted by this Section, other than in the Forum, the other party shall recover all attorneys’ fees, costs and expenses reasonably incurred in enforcing this agreement and the agreed Forum.
To the maximum extent permitted by law, you permanently and irrevocably waive the right to bring any Dispute unless you provide Bits Financial with written notice of the event or facts giving rise to the Dispute within one (1) year of their occurrence.
You and Bits Financial agree that this arbitration provision shall apply to the maximum extent permitted by applicable law and shall survive termination of the Terms. In the event that this arbitration provision is not enforceable, the parties agree to resolves all dispute in the Forum as set forth above.
You may not assign or transfer these Terms or your account, by operation of law or otherwise, without our prior written consent. Any attempt by you to assign or transfer these Terms, without such consent, will be null and of no effect. We may assign or transfer these Terms, at our sole discretion, without restriction. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors and permitted assigns.
27. Links to other websites
The Site, App and Services contain links to other independent third-party web sites (in all cases “Linked Sites”). These Linked Sites are provided solely as a convenience to you. Such Linked Sites are not under our control, and we are not responsible for and do not endorse the content of such Linked Sites, including any products, information or materials contained on such Linked Sites. You will need to make your own independent judgment regarding your interaction with these Linked Sites. We make no guarantees as to the fitness and merchantability of any products or services provided on LinkedSites. Additionally, we accept no responsibility for data breaches and or loss of personal information that may occur from having accessed and utilized any LinkedSites. You should review applicable terms and policies, including privacy and data gathering practices, of third-party web sites, and should make whatever investigation you feel necessary or appropriate before proceeding with any transaction with any third party.
28. Intellectual Property
You will indemnify and hold harmless Bits Financial and its affiliated and related companies, each of their officers, employees, agents, contractors and owners(collectively, “Indemnitees”) with respect to any suits or claims arising out of (i) your breach of these Terms, including, but not limited to, any infringement by you of the copyright or intellectual property rights of any third party; (ii) your fraudulent or malicious use of the Site, the App and/or Services or your misuse or abuse of the Site, App and/orServices; (iii) your violation of applicable laws, rules or regulations in connection with your use of the Site, App or Services; or (iv) our use of Materials generated or uploaded by you in accordance with these Terms.
30. Termination of Account or Services
We reserve the right to terminate or modify the Services or your account or access to the Services at any time with or without notice and for any reason. Sections 3, 4, 5, 9,11, 12 and 15 to 30 shall survive termination for any reason.