1. Key Definitions
Capitalized terms not otherwise defined in these Terms will have the following meaning:
"Bitvavo Services" (or "Services") means all the services Bitvavo provides, as specified in clause 3. Bitvavo does not guarantee the availability of its Services at any time.
"Digital Currency" means Bitcoin, Ethereum and other digital currencies that may be purchased, sold or traded via the Services.
"Bitvavo Account" or "Account" means a user account accessible via the Services.
"Restricted Locations" means the United Kingdom (U.K.), any country which is not a member of the European Union (E.U.) and any country that prohibits you by applicable law from using our Services in accordance with these Terms.
"External Account" means any bank account or Digital Currency account of which you are the owner or beneficial owner that is maintained by you or a third party outside of the Services from which you may transfer and where you can receive euro amounts or Digital Currency.
"Affiliate Partner" means a user of the Affiliate Program.
"Affiliate Program" means a program offered by the Bitvavo Services which allows Affiliate Partners to promote Bitvavo in exchange for a percentage of the turnover of purchases and sales generated by users.
"API" means a part of the Bitvavo Services which allows Bitvavo users to automate purchases and remotely manage their Bitvavo Account.
Eligibility. Bitvavo may not make their Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from the United Kingdom (U.K.) and any non European Union (E.U.) countries or other Restricted Locations. You represent and warrant that (i) you are at least 18 years old (or the applicable age of majority and contractual capacity); (b) have not previously been suspended or removed from using our Services; (c) are not located in, under the control of, or a national or resident of any of the Restricted Locations; and (d) will not use our Services if any applicable laws in your country prohibit you from doing so in accordance with these Terms.
3. Bitvavo Services
Services. Bitvavo provides you with one or more Bitvavo Accounts that allows you to store certain supported Digital Currencies and to track, transfer and manage these supported Digital Currencies. Bitvavo also provides you with a simple and convenient way to buy, sell or trade supported Digital Currencies in transaction with Bitvavo or the Bitvavo API.
Availability. Bitvavo does not guarantee the availability of its Services and the API at any time and may, at its sole discretion, limit or discontinue its Services and API at any time.
4. Bitvavo Account
Bitvavo Account. In order to use any of the Services, you must first register by providing your name, an e-mail address, password, and affirming your acceptance of these Terms. Bitvavo may, in its sole discretion, refuse to allow you to establish a Bitvavo Account. You are only allower to create and operate one Bitvavo Account.
Disclosure. When you create a Bitvavo Account, you agree to (i) provide accurate and truthful information; (ii) promptly notify Bitvavo if you discover or otherwise suspect any security breaches related to your Bitvavo Account; and (iii) take responsibility for all activities that occur under your Bitvavo Account and accept all risks of any authorized or unauthorized access to your Bitvavo Account to the maximum extent permitted by law.
Personal Information. Bitvavo may ask you to provide certain extra personal information, including, but not limited to: address, telephone, date of birth, a copy of your personal identification card and information regarding your bank account (e.g. financial institution, account type, routing number and account number). In submitting this or any other personal information as may be required, you verify that the information is accurate and authentic and you agree to notify Bitvavo if any information changes.
Password. You are solely responsible for maintaining adequate security and control of any and all passwords, device tokens, Two-Factor authentication tokens, API keys or any other codes that you use to access the Bitvavo Services. You are responsible for keeping your email address and telephone number up to date in your Bitvavo Account in order to receive any notices or alerts that we may send you. We assume no responsibility for any loss that you may sustain due to compromise of account login credentials due to no fault of Bitvavo and/ or failure to follow or act on any notices or alerts that we may send to you. In the event you believe your Bitvavo Account information has been compromised, contact Bitvavo support immediately at support[at]bitvavo.com.
Suspension. In the event of termination of the Account, (i) Bitvavo will return your Digital Currency and (ii) Stichting Bitvavo Payments will transfer any amount held by Stichting Bitvavo Payments, unless this is prohibited by any applicable rules or regulations and/or by any supervisory authority or if Bitvavo believes you have committed fraud or other misconduct.
Notice of Suspension. If Bitvavo suspends or closes your account, or terminates your use of Bitvavo Services for any reason, we will provide you with notice of our actions unless a court order or other legal process prohibits Bitvavo from providing you with such notice.
Cancellation. You may cancel your Bitvavo Account at any time by withdrawing all balances and mailing Bitvavo support at support[at]bitvavo.com. You will not be charged for canceling your Bitvavo Account, although you will be required to pay any outstanding amounts owed to Bitvavo. You authorize us to cancel or suspend any pending transactions at the time of cancellation.
Consent of Electronic Delivery. You agree and consent to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, "Communications") that Bitvavo provides in connection with your Bitvavo Account and/or use of the Bitvavo Services. You agree that Bitvavo may provide these Communications to you by posting them via the Services, by emailing them to you at the email address you provide, and/or by sending an SMS or text message to a mobile phone number that you provide. Your carrier's normal, messaging, data and other rates and fees may apply to any mobile Communications.
Withdrawal of Consent.You may withdraw your consent to receive electronic Communications by sending a withdrawal notice to support support[at]bitvavo.com. If you decline or withdraw consent to receive electronic Communications, Bitvavo may suspend or terminate your use of the Services.
Updating Contact Information. It is your responsibility to keep your email address and/or mobile phone number on file with Bitvavo up to date so that Bitvavo can communicate with you electronically. You understand and agree that if Bitvavo sends you an electronic Communication but you do not receive it because your email address or mobile phone number on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, Bitvavo will be deemed to have provided the Communication to you. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Bitvavo to your email address book so that you will be able to receive the Communications we send to you. You can update your email addressor mobile phone number at any time by logging into your Bitvavo Account or by sending such information to support support[at]bitvavo.com. If your email address or mobile phone number becomes invalid such that electronic Communications sent to you by Bitvavo are returned, Bitvavo may deem your account to be inactive, and you may not be able to complete any transaction via our Services until we receive a valid, working email address or mobile phone number from you.
5. General Obligations
Application. This section applies to all purchases and/or sales of Digital Currency from and to Bitvavo via the Services, and any transaction whereby you transfer euro amounts to Stichting Bitvavo Payments from your External Account or receive amounts from Stichting Bitvavo Payments on your External Account in relation to the purchase or sale of Digital Currency.
Third Party Transactions. Bitvavo has no control over, or liability for, the delivery, quality, safety, legality or any other aspect of any goods or services that you may purchase or sell from a third party (including other users of Bitvavo Services). Bitvavo is not responsible for ensuring that a buyer or a seller you may transact with will actually complete the transaction or is authorized to do so. Any problem arising out of a transaction with a third party or if you have a dispute with such third party, you must resolve the dispute directly with that third party. If you believe a third party has behaved in a fraudulent, misleading, or inappropriate manner, or if you cannot adequately resolve a dispute with a third party, you may notify Bitvavo support at support[at]bitvavo.com so that we may consider what action to take, if any.
Digital Currencies. The Digital Currencies that Bitvavo supports may change from time to time. If you have any questions about which Digital Currencies Bitvavo currently supports, please contact support[at]bitvavo.com. Under no circumstances should you attempt to use your Bitvavo Account to store, send, request, or receive Digital Currencies in any form that are not supported by Bitvavo. Bitvavo assumes no responsibility or liability in connection with any attempt to use Bitvavo Services for Digital Currencies that Bitvavo does not support.
Relationship of the Parties. Nothing in these Terms shall be deemed or is intended to be deemed, nor shall it cause, you and Bitvavo to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or Bitvavo to be treated as the agent of the other. You acknowledge and agree that (a) Bitvavo is not acting as your broker, intermediary, agent or advisor in any fiduciary capacity, and (b) no communication or information provided to you by Bitvavo shall be considered or construed as advice.
Internet Transmission Risk. You acknowledge that there are risks associated with utilizing an internet-based system including, but not limited to, the failure of hardware, software, and internet connections. You acknowledge that Bitvavo shall not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when trading via the Services or the API, howsoever caused.
Accuracy of Information. Bitvavo makes no representations about the accuracy or completeness of historical Digital Currency price data available on the Site. Bitvavo will make reasonable efforts to ensure that requests for transfers involving bank accounts are processed in a timely manner but Bitvavo makes no representations or warranties regarding the amount of time needed to complete processing which is dependent upon many factors outside of our control.
6. Bitvavo and Transfer of Amounts
Stichting Bitvavo Payments. A separate legal entity, namely "Stichting Bitvavo Payments" registered at the Dutch Chamber of Commerce (KvK) under number 69228922, commissioned by Bitvavo is designated to transfer euro amounts from and into your External Account in relation to the purchase or sale of Digital Currency. Stichting Bitvavo Payments aims to make sure that any amount received by Stichting Bitvavo Payments is received by the payee within 5 days. Stichting Bitvavo Payments is not responsible for any delay by an External Account provider.
Retention Period. You can only transfer amounts to Stichting Bitvavo Payments to buy Digital Currency of Bitvavo. By a transfer of a euro amount, you give an order to Stichting Bitvavo Payments to transfer that amount to Bitvavo to pay the purchase price of Digital Currency. If the stichting has not been informed timely about the specific transaction details (to be able to have the amount received by Bitvavo within 5 days), Stichting Bitvavo Payments will repay the amount received on your External Account.
External Account. In order to complete an order or trade of Digital Currency via the Services, you must transfer an amount to Stichting Bitvavo Payments using one of the approved External Accounts identified via the Services. You may be required to verify that you control the External Account that you use to transfer an amount to Stichting Bitvavo Payments. You may be charged fees by the bank where you hold your External Account you use to transfer an amount to Stichting Bitvavo Payments. Bitvavo is not responsible for any External Account fees or for the management and security of any External Account.
External Account Transaction Time. The timing associated with a transaction will depend in part upon the performance of third parties responsible for maintaining the applicable External Account and possible security related complications which could result in a temporary pending status for a certain transaction or group of transactions. Bitvavo makes no guarantees regarding the amount of time a transfer may take.
Cold Wallet. Bitvavo securely stores all Digital Currency private keys in our control in a combination of online and offline storage. As a result, it may be necessary for Bitvavo to retrieve certain information from offline storage in order to facilitate a Digital Currency transaction in accordance with your instructions, which may delay the initiation or crediting of such transaction for 48 hours or more. You acknowledge and agree that a Digital Currency transaction facilitated by Bitvavo may be delayed.
Withdrawals and Transfers. Provided that the balance of Digital Currencies in your Bitvavo Account or euros is greater than any minimum requirements needed, you may transfer them, from Stichting Bitvavo Payments to an External Account, less any fees charged by Bitvavo for such transactions.
Cooldown period. In order to prevent misuse, Bitvavo uses a so-called "cooldown period". This entails that digital currencies that are purchased using a bank account that is not yet known to Bitvavo are held for a certain period and cannot be withdrawn during this period. The length of the cooldown period is determined in accordance with the level of assessed risk.
Rejected Transactions. In some cases, the External Account may reject your transfers or may otherwise be unavailable. You agree that you will not hold Bitvavo liable for any damages resulting from any such rejected transactions.
Fees. Bitvavo may charge network fees to process a Digital Currency transaction on your behalf. Bitvavo will calculate the network fee in its discretion; although Bitvavo will always notify you of the fee at or before the time you authorize the transaction.
Unclaimed Property. If Bitvavo is holding Digital Currency in your Bitvavo Account, and Bitvavo is unable to contact you and has no record of your use of the Services for several years, applicable law may require Bitvavo to report these Digital Currency as unclaimed property to the applicable jurisdiction. If this occurs, Bitvavo will try to locate you at the address shown in our records, but if Bitvavo is unable to locate you, it may be required to deliver any such Digital Currency to the applicable or jurisdiction as unclaimed property. Bitvavo reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed Digital Currency, as permitted by applicable law.
Purchase Confirmation. Once the Services execute your purchase or sale, a confirmation will be required which will be made electronically available via the Services detailing the particulars of the trade.
Conditions and Restrictions. Bitvavo may, at any time and in its sole discretion, refuse any purchases or sales submitted via the Services, impose limits on the purchase or sale amount permitted via the Services or impose any other conditions or restrictions upon your use of the Service without prior notice.
Cancellation. Once your purchase or sale has been confirmed, you may not change, withdraw or cancel your authorization for Bitvavo to complete such transaction. While Bitvavo may, at its sole discretion, reverse a purchase or sale under certain extraordinary conditions.
Purchase Quotes. Prior to completing your purchase or sale of Digital Currency from Bitvavo, we will provide notice of the amount of Digital Currency you intend to purchase or sell and the amount of euro or Digital Currency you will be required to pay to Bitvavo to receive such Digital Currency. You agree to comply with any terms and conditions provided within such notice to complete your purchase transaction.
Errors. In the event of an error, whether via our Services, in a purchase order confirmation, in processing your purchase, or otherwise, we reserve the right to correct such error and revise your purchase transaction accordingly (including charging the correct price) or to cancel the purchase and refund any amount received. Your sole remedy in the event of an error is to cancel your purchase order and obtain a refund of any amount charged.
No Returns or Refunds. All sales and purchases of Digital Currency by Bitvavo via the Services are final. We do not accept any returns or provide refunds for your purchase of Digital Currency from Bitvavo, except as otherwise provided in these Terms.
Risks. You acknowledge and agree that you shall access and use the Services at your own risk. The risk of loss in purchasing Digital Currency can be substantial. You should, therefore, carefully consider whether purchasing Digital Currency is suitable for you in light of your circumstances and financial resources. You should be aware of the following points (All of the points noted below apply to all digital currency. this brief statement cannot, of course, disclose all the risks and other aspects associated with these trades):
You may sustain a total loss of the Digital Currency in your Bitvavo Account.
Under certain market conditions, you may find it difficult or impossible to sell a Digital Currency. This can occur, for example, when the market reaches a daily price fluctuation limit ("limit move"), if there is insufficient liquidity in the market.
Promotion and content requirements. At all times, you must clearly represent yourself and your websites as independent from Bitvavo. If it comes to our attention that you are spamming, we will consider that cause for immediate termination of this Agreement and your participation in the Bitvavo Affiliate Program. Any balances owed to you will not be paid if your Bitvavo Account is terminated due to such unacceptable advertising or any of the restrictions listed below. Every site and every Affiliate Partner participating in the Affiliate Program part must refrain from:
Violating copyright, trademark, portrait or other rights of third parties;
Promoting, proclaiming or exploiting illegal activities;
Providing conflicting or misleading information;
Violating the Terms or any law, contract, intellectual property or other third-party right;
Encouraging or inducing any third party to engage in any of the activities prohibited under this section;
E-mail marketing, unsolicited marketing and telemarketing;
Spamming, posting to non-commercial newsgroups and cross-posting to multiple newsgroups at once;
Creating, designing or operating a website which resembles our website nor create design, or operate a website in a manner which leads people to believe you are representing Bitvavo or any other affiliated business;
Being involved in any way in unlawful, harmful, threatening, defamatory, obscene, harassing, or racially, ethnically or otherwise objectionable actions to be judged by Bitvavo at our sole discretion.
Independent. You agree that you are an independent contractor, and nothing in this Agreement will create any partnership, joint venture, agency, franchise, sales representative, or employment relationship between the Affiliate Partner and Bitvavo. You will have no authority to make or accept any offers or representations on our behalf. You will not make any statement that reasonably would contradict anything in the Terms.
Enforcement. If the Affiliate Partner has violated one or more of these Terms, the Affiliate Partner loses all rights deriving from the agreement as well as claiming any affiliated generated income. Bitvavo reserves the right, at any time, to review your content and require that you comply with the guidelines provided to you.
Cancellation Policy. Bitvavo reserves the right to cancel an agreement with an Affiliate Partner without notice and at its sole discretion. The affiliate partner also has the right to terminate participation in the Bitvavo Affiliate Program with immediate effect.
Rate Limits. Bitvavo may at its sole discretion and without prior notification impose rate limits on an API key.
Documentation. It can not be ruled out that there are errors in the documentation, or that the documentation may be subject to different interpretations. Bitvavo is not liable for damages resulting from incorrect application of the API documentation, or incorrect specifications.
Cancellation. Bitvavo reserves the right to disable access to the API without notice and at its sole discretion.
10. Acceptable Use
Prohibited Use. When accessing or using the Services, you agree that you will not violate any law, contract, intellectual property or other third-party right or commit a tort, and that you are solely responsible for your conduct while using our Services. Without limiting the generality of the foregoing, you agree that you will not:
Use our Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner;
Use our Services to pay for, support or otherwise engage in any illegal gambling activities; fraud; money-laundering; or terrorist activities; or other illegal activities;
Use any robot, spider, crawler, scraper or other automated means or interface not provided by us to access our Services or to extract data;
Use or attempt to use another user's account without authorization;
Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
Develop any third-party applications that interact with our Services without our prior written consent;
Provide false, inaccurate, or misleading information;
Encourage or induce any third party to engage in any of the activities prohibited under this section.
Enforcement. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process or governmental request. We reserve the right to cancel and/or suspend your Bitvavo Account and/or block transactions or freeze transactions or transfers immediately and without notice if we determine, in our sole discretion, that your Bitvavo Account is in breach with any of the clauses under Section 10.1.
Privacy. If you receive information about another user through the Bitvavo Services, you must keep the information confidential and only use it in connection with the Bitvavo Services. You may not disclose or distribute a user's information to a third party or use the information except as reasonably necessary to effectuate a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user's express consent to do so. You may not send unsolicited email to a user through the Bitvavo Services.
11. Copyrights and Intellectual Property Rights
Copyright and Intellectual Property Rights. Unless otherwise indicated by us, all copyright and other intellectual property rights in all content and other materials contained on our website or provided in connection with the Services, including, without limitation, the Bitvavo logo and all designs, text, graphics, pictures, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, "Bitvavo Materials") are the proprietary property of Bitvavo or our licensors or suppliers and are protected by intellectual property rights laws.
License of Use. We hereby grant you a limited, nonexclusive and non-sub licensable license to access and use the Bitvavo Materials for your personal use. Such license is subject to these Terms and does not permit (a) any resale of the Bitvavo Materials; (b) the distribution, public performance or public display of any Bitvavo Materials; (c) modifying or otherwise making any derivative uses of the Bitvavo Materials, or any portion thereof; or (d) any use of the Bitvavo Materials other than for their intended purposes. The license granted under this Section will automatically terminate if we suspend or terminate your access to the Services.
Trademarks. Bitvavo the Bitvavo logo and any other Bitvavo product or service names, logos or slogans that may appear on our Services are trademarks of Bitvavo, in the Netherlands and in other countries, and may not be copied, imitated or used, in whole or in part, without our prior written permission. You may not use any trademark, product or service name of Bitvavo without our prior written permission, including without limitation any metatags or other "hidden text" utilizing any trademark, product or service name of Bitvavo.
Feedback. Any Feedback you submit is non-confidential. We will be entitled to the unrestricted use and dissemination of such Bitvavo for any purpose, commercial or otherwise, without acknowledgment or compensation to you. Do not send us Feedback if you expect to be paid or want to continue to own or claim rights in them; your idea might be great, but we may have already had the same or a similar idea and we do not want disputes.
12. Limitation of Liability
Limitation of Liability. In no event shall Bitvavo, its affiliates and service providers, or any of their respective officers, directors, agents, joint venturers, employees or representatives, be liable (a) for any amount greater than the value of the supported digital currency on deposit in your Bitvavo Account or (b) for any lost profits or any special, incidental, indirect, intangible, or consequential damages, whether based in contract, tort, negligence, strict liability, or otherwise, arising out of or in connection with authorized or unauthorized use of the Bitvavo site or the Bitvavo services, or this agreement, even if an authorized representative of Bitvavo has been advised of or knew or should have known of the possibility of such damages. This means, by way of example only (and without limiting the scope of the preceding sentence), that if you claim that Bitvavo failed to process a buy or sell transaction properly, your damages are limited to no more than the value of the supported digital currency at issue in the transaction, and that you may not recover for lost profits, lost business opportunites, or other types of special, incidential, indirect, intangible, or consequential damages in excess of the value of the supported digital currency at issue in the transaction.
Computer Viruses. We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from Bitvavo. Always log into your Bitvavo Account through https://bitvavo.com/ to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.
13. Applicable Law & Competent Court
Applicable Law. Agreements between you and Bitvavo to which these Terms are applicable shall be governed by the laws of The Netherlands.
Competent Court. Any disputes between you and Bitvavo arising from these Terms or your use of the Services can only be submitted to the competent Dutch court in Amsterdam, both by you and Bitvavo.
Entire Agreement. These Terms contain the entire agreement, and supersede all prior and contemporaneous understandings between the parties regarding the Services.
Amendment. We reserve the right to make changes or modifications to these Terms from time to time, in our sole discretion. If we make changes to these Terms, we will provide you with notice of such changes, such as by sending an email, providing notice on the homepage of the Site and/or by posting the amended Terms via the applicable Bitvavo websites and mobile applications and updating the date at the top of these Terms. The amended Terms will be deemed effective immediately upon posting for any new users of the Services. In all other cases, the amended Terms will become effective for preexisting users upon the earlier of either: (i) the date users click or press a button to accept such changes, or (ii) continued use of our Services 30 days after Bitvavo provides notice of such changes. Any amended Terms will apply prospectively to use of the Services after such changes become effective. If you do not agree with any changes or modifications to these Terms, your sole and exclusive remedy is to terminate your use of the Services and close your account.
Waiver. Our failure or delay in exercising any right, power or privilege under these Terms shall not operate as a waiver thereof.
Force Majeure Events. Bitvavo shall not be liable for (1) any inaccuracy, error, delay in, or omission of (i) any information, or (ii) the transmission or delivery of information; (2) any loss or damage arising from any event beyond Bitvavo's reasonable control, including but not limited to flood, extraordinary weather conditions, earthquake, or other Act of God, fire, war, insurrection, riot, labor dispute, accident, action of government, communications, power failure, or equipment or software malfunction or any other cause beyond Bitvavo's reasonable control (each, a "Force Majeure Event").
Headings. Headings of sections are for convenience only and shall not be used to limit or construe such sections.
Survival. All provisions of these Terms which by their nature extend beyond the expiration or termination of these Terms, including, without limitation, sections pertaining to suspension or termination, Bitvavo Account cancellation, debts owed to Bitvavo, general use of the Bitvavo site, disputes with Bitvavo, and general provisions, shall survive the termination or expiration of these Terms.
Change of Control. In the event that Bitvavo is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you as part of such merger, acquisition, sale, or other change of control.
Website Accuracy. Although we intend to provide accurate and timely information, the Bitvavo site may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on Bitvavo are your sole responsibility and we shall have no liability for such decisions. Links to third-party materials (including without limitation websites) may be provided as a convenience but are not controlled by us. You acknowledge and agree that we are not responsible for any aspect of the information, content, or services contained in any third-party materials or on any third party sites accessible or linked to Bitvavo.