PLEASE READ THIS USER AGREEMENT CAREFULLY. BY CLICKING “I AGREE”, REGISTERING FOR A BITVO ACCOUNT OR BY ACCESSING OR USING THE BITVO PLATFORM, YOU AGREE TO BE LEGALLY BOUND BY THIS USER AGREEMENT AND ALL TERMS INCORPORATED BY REFERENCE.
There are important legal terms provided below, including your indemnification responsibilities, our limitation of liability and warranty disclaimers, and your agreement to arbitrate most disputes. Please take the time to read these terms carefully. You can always contact us through support if you have any questions at email@example.com.
If you are a resident of Quebec and you wish to receive a French language version of the User Agreement (as defined below), please send us a request at firstname.lastname@example.org. Si vous êtes resident(e) de Quebec and vous désirez recevoir une version française de l’Accord Utilisateur, veuillez demandez à email@example.com.
This user agreement, including any terms expressly incorporated herein, (the “User Agreement ” or “Agreement”) forms and agreement between Bitvo Inc. (“Bitvo”) and you and applies to your access to and use of the Bitvo Platform (as defined below).
You may not receive Funds in your Bitvo Account from a sender other than yourself. Any Funds you receive from a sender other than yourself will be considered unauthorized.
In accordance with Applicable Laws (including the AML Legislation) and our AML Program, we reserve the right to investigate the source of any Funds in your Bitvo Account and determine, in our sole discretion, how to handle the disposition of any unauthorized Funds or Funds which we suspect may have been deposited in breach of this Agreement (including the representations and warranties herein). This may include, where required or requested, to disclose your name and other information relating to you, on a confidential basis, pursuant to Applicable Laws (including the AML Legislation) and you are deemed to have agreed to such disclosure. Following our review of any Funds in question and the circumstances by which you received them, we may determine not to return your Funds or not to complete your requested transaction. You agree that you will not hold Bitvo liable for any costs or damages resulting from any such determination.
Bitvo takes privacy and data security seriously. We are committed to transparency in the collection and use of your personal information.
We collect your name, email address, home address, occupation, date of birth, geographic location, social insurance number (optional) and a username and password that you select to create an account with us. We use this information to administer your account, and to satisfy know-your-client and other compliance obligations. We may also use this information for fraud detection and prevention purposes and to otherwise assist us with the ongoing operation of your account.
We may offer you the opportunity to engage with Bitvo or our content on or through third-party social networking websites, plug-ins and applications. When you engage with us on or through third-party social networking websites, plug-ins and applications, you may allow us to have access to certain information associated with your social media account (e.g., name, username, email address, profile picture) to deliver content or as part of the operation of the website, plug-in or application.
If you fund your account on the Bitvo Website, we collect certain payment information, bank account information or payment-card details for the purposes of verification and processing your payment.
When you engage in cryptocurrency transactions through the Bitvo Website, we collect transaction information on the purchase or sale of cryptocurrencies, or other transaction-based information that you generate or that is connected to your account. This transaction information will be used to provide you with reports and information in respect of your transaction history. This transaction information may also be used in an aggregated, non-personally identifiable form to help us understand our customers and to enhance our product and service offerings.
Be aware that cryptocurrencies are not necessarily truly anonymous. Generally, the balance and transaction history of a public cryptocurrency address is publicly available. Any person who can match your public cryptocurrency address to other information about you may be able to identify you from a blockchain transaction. For example, certain information published on a blockchain can be connected to other information about you that another person may have. In addition, it may also be possible to identify other information about you through blockchain data analysis tools and techniques. As part of our anti-fraud, anti-money laundering and security measures, we may conduct blockchain data analysis to collect and process information about you. By accessing or using the Bitvo Website, you acknowledge and agree that we can do so.
You may select if you wish to receive email marketing communications with updates and other information regarding Bitvo by providing us with your name and email.
You can opt out of receiving marketing emails from us using the opt-out or “unsubscribe” instructions provided in the communication. Alternatively, you may contact our Privacy Officer at firstname.lastname@example.org.
Please note that if you withdraw your consent to receive electronic communications from Bitvo, we may suspend or terminate your access to or use of the services offered on the Bitvo Website.
In connection with a job application or related inquiry, you may provide us with personal information including a resume, cover letter, or similar employment-related materials. This information will be used for the purpose of processing and responding to your application for current and future career opportunities.
From time to time, Bitvo may offer you the opportunity to participate in one of our surveys or other customer research. The information obtained through our surveys and customer research is used in an aggregated, non-personally identifiable form to help us understand our customers and to enhance our product and service offerings.
When you enter a contest or participate in a promotion, Bitvo may collect your name, address, phone number, email address, and other information you provide. This information is used to administer your participation in the contest, sweepstakes or promotion.
When you contact us with a comment or question, we collect the information you provide such as your name and email address, along with additional information that we may need to help us promptly respond to your inquiry. We retain this information to assist you in the future and to improve our customer service and service offerings. We also use personal information to establish and manage our relationship with you and provide quality service.
Without limiting the purposes and uses for collecting personal information set out above, we may use any personal information collected from you or about you to: provide you with access to the Bitvo Website and customer support relating thereto; optimize and enhance the Bitvo Website and services provided by Bitvo; undertake identity verification, anti-fraud and anti-money laundering processes and procedures (which processes may involve third party service providers); conduct ongoing monitoring of the Bitvo Website and the transactions executed on the Bitvo Website; and create and analyze anonymized reporting data pertaining to the Bitvo Website.
We and our third-party service providers, including Google Analytics, collect, process, store and analyze information obtained from your browser when you visit the Bitvo Website, including IP address, device identifiers, browser characteristics, operating system details, language preferences, referring URLs, length of visits, and pages viewed. We also use “cookies” or other tools that track, measure and analyze the behaviors and usage patterns of visitors to the Bitvo Website. We use this information to help us understand how visitors engage with the Bitvo Website and to improve our visitors’ experience.
You can obtain additional information on Google Analytics’ collection and processing of data and data privacy and security, including how to learn more about opting out of Google Analytics’ data collection.
Your web browser may have settings that allow you to transmit a “Do Not Track” signal when you visit various websites or use online services. Like many websites, this website is not designed to respond to “Do Not Track” signals received from browsers. You can learn more about “Do Not Track” signals here.
Your personal information may be transferred (or otherwise made available) to our affiliates and other third parties who provide services on our behalf. We use third parties to host, operate and manage certain elements of the Bitvo Website, to detect fraud and security threats and to handle payment processing. Our service providers are given the information they need to perform their designated functions and are not authorized to use or disclose personal information for their own marketing or other purposes.
Your personal information may be maintained and processed by us, our affiliates and other third-party service providers in the Bahamas, the US, Canada or other jurisdictions. In the event that personal information is transferred to the Bahamas, the US, Canada or other foreign jurisdiction, it will be subject to the laws of that jurisdiction and may be disclosed to or accessed by the courts, law enforcement and governmental authorities in accordance with those laws.
We may use and share non-personal information we collect with our affiliates and third parties to develop and deliver targeted advertising on the Bitvo Website or on the websites or applications of third parties, and to analyze and report on advertising you see. We may combine non-personal information we collect with additional non-personal information collected from other sources. We also may share aggregated, non-personal information, or personal information in hashed, non-human readable form, with third parties, including advisors, advertisers and investors, for the purpose of conducting general business analysis, advertising, marketing, or other business purposes.
We and our service providers may provide your personal information in response to a search warrant or other legally valid inquiry or order, or to another organization for the purposes of investigating a breach of an agreement or contravention of law or detecting, suppressing or preventing fraud, or as otherwise required or permitted by applicable law or legal process. Your personal information may also be disclosed where necessary for the establishment, exercise or defence of legal claims and to investigate or prevent actual or suspect loss or harm to persons or property.
Personal information may be provided to third parties in connection with a merger or sale (including transfers made as part of insolvency or bankruptcy proceedings) involving all or part of Bitvo or as part of a corporate reorganization or stock sale or other change in corporate control, including for the purpose of determining whether to proceed or continue with such transaction or business relationship.
We have implemented reasonable administrative, technical and physical measures in an effort to safeguard the personal information in our custody and control against theft, loss and unauthorized access, use, modification and disclosure. We restrict access to your personal information on a need-to-know basis to employees and authorized service providers who require access to fulfill their job requirements.
We have personal information retention processes designed to retain personal information for no longer than necessary for the purposes stated above or to otherwise meet legal requirements.
You have the right to access, update and correct inaccuracies in your personal information in our custody and control, subject to certain exceptions prescribed by law. You may request access, updating and corrections of inaccuracies in other personal information we have in our custody or control by emailing or writing to us at the contact information set out below. We may request certain personal information for the purposes of verifying the identity of the individual seeking access to their personal information records.
The Bitvo Website may contain links to other websites that are not owned or controlled by us. We have no control over, do not review and are not responsible for the privacy policies of or content displayed on such other websites. When you click on such a link, you will leave our service and go to another site. During this process, another entity may collect personal information from you.
Bitvo will not do business with any client who has not completed the know your client and identity verification procedures in place by Bitvo from time to time. These procedures may restrict clients from accessing or using Bitvo services, even if such clients are not from a jurisdiction listed as a Restricted Jurisdiction below.
Bitvo will not do business with any current or potential client from, or that conducts business with, any country that Canada or the United States has imposed sanctions or related measures against or any country that is otherwise outside of the risk tolerance of Bitvo or its banking partners (“Restricted Jurisdictions”). As of the date of this document, the current list of Restricted Jurisdictions includes:
Bitvo reserves the right to update this list, in its sole discretion, at any time. If a Bitvo client is found to be from or conduct business with, directly or indirectly, any of the above countries, Bitvo may suspend or terminate such client’s use of Bitvo services in accordance with the User Agreement.
Before listing a crypto on the Bitvo Platform, we perform a product assessment by reviewing publicly available information about the creation, governance and use of the crypto, the supply, demand, maturity, utility and liquidity of the crypto, material technical risks associated with the crypto and legal and regulatory risks associated with the crypto.
The Bitvo Platform includes a Crypto Asset Statement for every listed crypto. We will update the Statement if there is a material change in the crypto, including a change in the risk profile or a determination made by a court or regulator that the crypto is a security or a derivative. If this happens, we will de-list the crypto and you will be required to sell it or withdraw it from the Bitvo Platform.
We hold fiat cash currency on your behalf in trust in an account at ATB Financial, a Canadian financial institution that is a qualified custodian for cash under applicable securities laws (the Cash Custodian, together with the Crypto Custodian, the Custodians), separate and apart from Bitvo’s own assets.
The Custodians are subject to regulatory oversight, minimum capital and insurance requirements. The Crypto Custodian is required to segregate client assets from its own assets. Client assets are subject to risk of loss: (i) if a Custodian becomes bankrupt or insolvent; (ii) if there is a breakdown in a Custodian’s information technology systems; or (iii) due to the fraud, willful or reckless misconduct, negligence or error of a Custodian or its personnel. The Firm has reviewed each Custodian’s reputation, financial stability, relevant internal controls and ability to deliver custodial services and has concluded that such Custodian’s system of controls and supervision is sufficient to manage risks of loss to client assets in accordance with prudent business practice.
Although client assets are generally held by a Custodian, the Firm has access to client assets held online in hot wallets to the extent necessary to facilitate trading on the Bitvo Platform. We also have access to client assets when accepting or making delivery of crypto or cash in accordance with client instructions on a temporary basis. Finally, Bitvo has access to client crypto held in trust on your behalf at the Crypto Custodian because the custody account is in the name of Bitvo, in trust for our clients. Client assets are exposed to risk of loss: (i) if there is a breakdown in the Firm’s information technology systems; or (ii) due to the fraud, willful or reckless misconduct, negligence or error of the Firm or its personnel. In addition, the Firm is required under applicable securities laws to insure against the additional risk of loss which arises due to its access to client assets.
Using borrowed money to finance the purchase of crypto involves greater risk than using cash resources only. If you borrow money to purchase crypto, your responsibility to repay the loan and pay interest as required by the terms of the loan remains the same even if the value of the crypto purchased declines.
Bitvo operates a paid referral arrangement whereby a client of Bitvo receives a one-time referral fee in consideration for referring each new client to the Bitvo Platform. Each new client is provided with a Referral Statement that identifies the possible conflicts of interest that may arise in a paid referral arrangement. The Referral Statement is incorporated by reference into this Relationship Disclosure Information.
We gather know your client (KYC) information about your experience and knowledge in investing in crypto assets, your experience in using order execution only online brokerages, your financial assets and income and your risk tolerance. We use this information, together with our product assessments of all crypto that is listed on the Bitvo Platform, to determine whether an account is appropriate for you. If we do not think an account is appropriate for you, we will send you a prominent message that this is the case.
Filing a complaint with us
If you have a complaint about our services or a product, contact us:
Bitvo Inc. 1-833-86BITVO (1 833-862-4886) email@example.com You may want to consider using a method other than email for sensitive information.
Help us resolve your complaint sooner
We will acknowledge your complaint
We will acknowledge your complaint in writing, as soon as possible, typically within 5 business days of receiving your complaint. We may ask you to provide clarification or more information to help us resolve your complaint.
We will provide our decision
We normally provide our decision in writing, within 90 days of receiving a complaint. It will include:
If our decision is delayed
If we cannot provide you with our decision within 90 days, we will:
You may be eligible for the independent dispute resolution service offered by the Ombudsman for Banking Services and Investments (OBSI).
Filing a complaint with us
You may be eligible for OBSI’s dispute resolution service.
If you are a Québec resident
You may consider the free mediation service offered by the Autorité des marchés financiers.
A word about legal advice
You always have the right to go to a lawyer or seek other ways of resolving your dispute at any time. A lawyer can advise you of your options. There are time limits for taking legal action. Delays could limit your options and legal rights later on.
Taking your complaint to OBSI
You may be eligible for OBSI’s free and independent dispute resolution service if:
OBSI can recommend compensation of up to $350,000.
OBSI’s service is available to clients of our firm. This does not restrict your ability to take a complaint to a dispute resolution service of your choosing at your own expense, or to bring an action in court. Keep in mind there are time limits for taking legal action
Who can use OBSI
You have the right to use OBSI’s service if:
Time limits apply
Filing a complaint with OBSI
Telephone: 1-888-451-4519 or 416-287-2877 in Toronto
Information OBSI needs to help you
OBSI can help you best if you promptly provide all relevant information, including:
|OBSI will investigate
OBSI works confidentially and in an informal manner. It is not like going to court, and you do not need a lawyer.
During its investigation, OBSI may interview you and representatives of our firm. We are required to cooperate in OBSI’s investigations.
OBSI will provide its recommendations
Once OBSI has completed its investigation, it will provide its recommendations to you and us. OBSI’s recommendations are not binding on you or us.
OBSI can recommend compensation of up to $350,000. If your claim is higher, you will have to agree to that limit on any compensation you seek through OBSI. If you want to recover more than $350,000, you may want to consider another option, such as legal action, to resolve your complaint.
For more information about OBSI, visit https://www.obsi.ca
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