Terms & Conditions
TERMS OF SERVICE

These Terms of Service (“Agreement”) describe the terms and conditions applicable to the services of currencies and/or Digital Assets exchange (“Services”) between Bitspace AG, legal entity duly incorporated in Swiss Confederation (“Bitspace”, “we”, “us”, “our”) and any natural person or legal entity (“Client”, “you”, “your”).

You, by using the Services provided by Bitspace on the following website: https://bitspace.ltd/ (“Website”) confirm that you have read, understood, accept and agree to follow this Agreement within all the terms and condition as specified below.

You understand that some restrictions may be applied to your use of the Services provided by Bitspace depending on your country of residence. It is your sole responsibility to comply with applicable legislation and follow the rules of your country of residence and/or country of accessing the Services via Website.

If you disagree to some or all provisions of this Agreement you shall not use the Services.

SCOPE OF SERVICES

Bitspace provides a web platform that is available by technical means at Bitspace resources and allows a Client to conduct an exchange of the currency (“fiat money”) and/or electronic currency, namely Bitcoin, Ethereum, Litecoin and other (“Digital Assets”, both “Funds”) that may be purchased or sold via Bispace’s web platform available at the Website.

The Services we provide are not intended for keeping or managing either Digital Assets wallets or bank accounts/deposits.

PROVISION OF SERVICES

In order to apply for the Services, the Client needs to open an account via Bitspace’s Website and agree to this Agreement. All Clients must be approved and have the account open by the Bitspace before they can use any of the Services provided by Bitspace. Bitspace has the right to unilaterally approve or reject any potential Client in accordance with its internal rules and policies. The Client understands and agrees that Bitspace is not obliged to disclose internal rues and policies to the Client and to provide any explanation and reasons for its decision.

The Client shall provide all required information and documents required by Bitspace and necessary for the provision of the Services, including but not limited to, the Client’s personal bank account and/or the Client’s personal electronic wallet and Client’s personal Digital Assets wallet. Bitspace may require the Client and the Client has obligation to provide requested additional information and documents during the account opening and after the account opening during the provision of the Services.

In case of change of information and/or documents the Client must inform Bitspace immediately.

If the Client does not provide the requested information and/or documents to Bitspace or fails to notify upon change of earlier provided information, Bitspace has the right to stop or refuse provision of the Services to the Client until the Client provides required information and/or documents or to terminate the Agreement with the immediate effect at any time unless Bitspace request is satisfied.

An account or accounts via Bitspace’s Website mean account(s) held and maintained by the Client for the specific purpose of Digital Assets exchange through the Bitspace’s web platform. The objective of the account created are bounded by the scope of the Services.  

Bitspace at its sole discretion may change the currency limits intended for an exchange and other Service provision parameters. If the Client does not agree to such changes, the Client must inform Bitspace immediately and stop business relationship with Bitspace. If the Client continues to request and accept Services after such changes occur, it means that the Client has accepted changes fully and unconditionally.

The Client acknowledges and accepts, that Bitspace in all cases cannot be liable for any losses, including the loss of profits, in part or in full, resulting from not being able to receive the Services or for non-provision of the Services.

DIGITAL ASSETS SELLING
The Client acknowledges and accepts the policy on the return of fiat currencies and Digital Assets that their return after the executed sale operation is not possible.

Request. When the Client initiates the transaction of Digital Assets selling, the Client sends a request (“Request”) to the system indicating the amount of Digital Assets intended for the transaction and payment service provider, bank account details or Digital Assets wallet address preferred for the payout. After the Client’s request is approved the Client transfers Digital Assets in the amount intended for the transaction to the Digital Assets wallet indicated by Bitspace web platform. This transfer will be deemed settled after minimum required confirmations have been received.

Execution. The transaction is executed successfully when the amount of Digital Assets received by Bitspace is equal to the amount in Request. If the amount differs Bitspace may unilaterally freeze the Request for correction with the Client. If the Request is corrected with the Client, it will be executed at sell price current for the moment when new Request was agreed. If you failed to respond and/or correct the Request with Bitspace within 24 hours your Digital Assets will be returned to your account’s return address. Administrative fee is charged for the returning of Digital Assets volume, meaning that your returning payout will be reduced with applicable administrative fee and if the administrative amount supersedes the volume of returning payout no Digital Assets will be returned.

Price. The selling price current for the moment will be locked on your Request after Bitspace receives the minimum required confirmations from Digital Assets network.

Limitations. Bitspace may apply limitation either on a sell transaction or on a daily sell volume per ba

nk account, payment service provider account or Digital Assets wallet. If you fail to meet thi

s limitation when applying for sell transaction your Digital Assets will be returned to your account’s return address. Administrative fee is charged for the returning of Digital Assets, meaning that your returning payout will be reduced with applicable administrative fee and if the administrative amount supersedes the volume of returning payout no Digital Assets will be returned. Before initiating sell transaction please check the limitations for your account.

Confirmation. The minimum required is 1 confirmation on the transaction of amount that does not exceed the equivalent of 4 BTC and 6 confirmations is required on the amount equivalent or over 4 BTC, received from Digital Assets network after the transaction was broadcasted.

Payout. In order to initiate the payout to your payment service provider account, bank account, or Digital Assets wallet, Bitspace needs to receive minimum required confirmations related to your transaction. The payouts to the payment service provider or bank account are normally settled within 48-72 hours on working days from the moment of transaction completion; payouts to the payment service provider electronic wallet are normally settled within 24 hours.
DIGITAL ASSETS PURCHASING
The Client acknowledges and accepts that transfers to the bank account which do not comply with the terms below will be returned and the bank costs will be deducted.

The purchase is available only by means of a bank / payment service provider transfer in Swiss Franc or Euro currency or via a Digital Assets wallet.

Request. When the Client initiates the transaction of Digital Assets purchase, the Client sends a request to the system indicating the amount of Digital Assets intended for the transaction and details of the Client’s personal Digital Assets wallet for payout. After the Client’s request is approved the Client transfers a necessary amount in Euro or Swiss Franc currency with the bank account, payment service provider account or Digital Assets wallet, to the Digital Assets wallet address indicated by Bitspace web platform, which is different from a Digital Assets wallet that the Client has used to initiate the purchase. This transfer will be deemed settled after the payment in Euro, Swiss Franc currency or Digital Assets is received.

Execution. The transaction is executed successfully when the amount in Euro or Swiss Franc currency or Digital Assets payment received by Bitspace is equal to the amount in Request. If the amount differs Bitspace may unilaterally freeze the Request for manual correction with a Client. If the Request is corrected with a Client, it will be executed at buy price current for the moment when new Request was closed. If you failed to respond and/or correct the Request with Bitspace’s representative within 24 hours your amount of Funds will be returned to your account’s return address.  Administrative fee is charged for the returning of Funds, meaning that your returning payout will be reduced with applicable administrative fee and if the administrative amount supersedes the volume of returning payout no Digital Assets or fiat money will be returned.

Price. The price for execution of the transaction is shown at the respective section of web platform or Website and based on the current price at the moment. The estimated amount of the Digital Assets based on this actual price at the moment when you apply for purchase.

Transfer. Bitspace processes bank transfers in Swiss Franc or Euro currency daily and relies on third party service providers. Bitspace processes transfers only after it receives a notification from its bank or payment service provider that the Client's transfer was settled. The term while the purchased Digital Assets will be charged to the Client’s Digital Assets wallet may take 24-72 hours from the moment of the Client’s bank transfer, depending on the bank involved into transactions or within 24 hours if the payment service provider was used.  In any case it may take one additional day, if the buy transaction will be executed manually. The final amount of Digital Assets may differ from the estimated amount as it depends on the price at the moment when your Request for purchase was actually executed. We may inform you respectively via e-mail when you Digital Assets will be sent to your wallet.

Confirmation. The minimum required is 1 confirmation on the transaction of amount that does not exceed the equivalent of 4 BTC and 6 confirmations is required on the amount equivalent or over 4 BTC, received from Digital Assets network after the transaction was broadcasted.

Limitations. Bitspace may apply limitations either on buy transaction or on daily buy volume per bank account, payment service provider account or Digital Assets wallet. If you fail to meet this limitation when applying for buy transaction your fiat currency or Digital Assets will be returned to your account’s return address. Administrative fee is charged for the returning of fiat currency or Digital Assets, meaning that your returning payout will be reduced with applicable administrative fee and if the administrative amount supersedes the volume of returning payout no fiat currency or Digital Assets will be returned. Before initiating buy transaction please check the limitations for your account.
WARRANTIES & ACKNOWLEDGMENT
The Client warrants that he (and/ or representative of the Client, when the Client is a legal person):
    1. read and understood this Agreement, is at least 18 years old and has full capacity to enter into this Agreement and conduct the activity related to the Services, namely enter into transaction of Digital Assets and fiat currency exchange via Bitspace web platform;
    2. acts within and complies with all legal requirements applicable to the relevant jurisdiction when requesting and using the Services provided by Bitspace;
    3. is solely responsible for assessment and coherence to the applicable tax regulations;
    4. is authorised and using the Bitspace account personally;
    5. keeps and maintains information, including without limitation personal data, financial details and information about all activities conducted or occurred within the account confidential;
    6. makes appropriate use of Bitspace’s Services to ensure a level of security appropriate to the risk in respect of the personal data and securing authorization credentials, system and devices used to access to Bitspace’s Services;
    7. provides accurate, complete and current data while applying for the account via Bitspace’s Website or web platform;
    8. provides all necessary or requested by Bitspace information about a bank account (including IBAN and the name associated with a bank account) or electronic payment service provider account for the purpose of conducting payout for the Digital Assets sold by him or by his Request using Bitspace’s Website or web platform;
    9. provides the details of a Digital Assets wallet for the purpose of a Digital Assets return;
    10. uses only a specific Digital Assets address provided to you by Bitspace for sending Digital Assets intended for sale;
The Client acknowledges that:
    1. it is the Client’s personal liability to any and all potential losses resulting from selling or purchasing of currencies or Digital Assets and that Bitspace only provides services under instructions from and on behalf of the Client (“execution only”), therefore the Client keeps and will keep Bitspace free of any liability and/or losses;
    2. there are risks inherent with the use of the Services, including but not limited to, market risk, liquidity risk, volatility risk, operational risk, speculative nature of Digital Assets themselves, regulatory risks, etc.;
    3. the Client is solely responsible for all legal risks associated with using the Services provided by Bitspace;
    4. transaction may be aborted at any time by Bitspace and the received payments or Digital Assets may be returned to your account, the return of Digital Assets in this case will be done only after minimal required confirmation from Digital Assets network is received;
    5. the price for exchange of Digital Assets is based on the reference price provided by Bitspace;
    6. Bitspace dooes not hold responsibility if volatility on the market and technical delays of web platform or Website would affect the reference price both in a positive or negative way;
    7. availability of banking system or payment service provider may cause delays in payment transactions;
    8. Bitspace bears no responsibility for refusal to open an account via payment service(s) available on Bitspace’s Website or web platform;
    9. period of selling or returning of Digital Assets to your account may vary due to the inherent nature of the Digital Assets network and Digital Assets network fees to be paid to the miners;
    10. Bitspace neither bears any responsibility nor covers any losses caused by inappropriate or unauthorized use of the Services; 
    11. it is the Client’s sole responsibility to provide all accurate information correctly and without mistakes or mistypes in any portion of information when completing Requests or other forms on web platform or Website, otherwise it may lead to transfer of Funds to account specified by mistake or to delays in processing and payouts;

Bitspace at its sole discretion and at any time may amend and/ or change this Agreement without prior notice to the Client, unless such changes and/ or amendments will constitute significant changes to the provision of Services, namely if the changes and/ or amendments are made to the Sections 2, 3 and 4 of this Agreement, the notice of the latter changes and/ or amendments to be given by any adequate mean including email or general publication on the Website. The amended version of these Agreement enters into force immediately and if the changes made to the Section 2, 3 and 4 of this Agreement enters into force 15 (fifteen) days after the publication, except if the Client terminates its relations with Bitspace within that period;

INTELLECTUAL PROPERTY
All copyrights and other intellectual property rights in trademarks, service marks, software, text, images, graphics, data, prices, trades, charts, graphs, video and audio (“Materials”) depicted or shown or contained on the Website and web platform belong to or are in control of Bitspace. You may view, download or print only one copy of the Materials from the Website or web platform solely for your personal use, however it is forbidden to remove, blur or otherwise hide the copyright and other proprietary notices. Otherwise you are not allowed to copy, reproduce, modify, republish, upload, post, transmit, scrap, collect or distribute in any form or by any means the Materials. It is also forbidden to use Materials from the Website or web platform for commercial use unless Bitspace gives you a written permission to do so. Any unauthorized use is prohibited and may violate copyright, trademark and/or other applicable laws and could result in criminal or civil penalties.

Bitspace may provide access to certain widgets for the Client’s use – the Client is free to use these in their original unmodified and unaltered state.
APPLICABLE LAW AND JURISDICTION
This Agreement is subject to and shall be construed in accordance with Swiss law without reference to its conflict of law as the sole and exclusive governing law. The parties agree to irrevocably submit to the exclusive jurisdiction of the Swiss Courts. The Parties agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Bitspace shall be sent to support@bitspace.ltd
LIMITATION OF LIABILITY
All the Services are provided without warranty of any kind, either express or implied. Bitspace does not guarantee that the Services will be available at the Website or web platform uninterruptedly, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

In no circumstances Bitspace must be held responsible for the Client loss of Digital Assets in all cases including if the Client cannot access his personal Digital Assets wallet or the address provided by Client to Bitspace for returning purposes.

Bitspace cannot be held liable for any malfunction, breakdown, delay or interruption to the internet connection, or if for any reason Bitspace’s Services are unavailable at any time or for any period.

Where Bitspace’s Website or web platform contains links to other websites and resources provided by third parties, these links are provided for your information only. Bitspace has no control over the contents of those websites or resources and accepts no liability for them or for any loss or damage that may arise from your use of them.

Client agrees that any Bitspace liability in any case is limited to the amount of transaction(s) the subject of the claim redundant for any amount of commissions or additional fees that may be due and payable in respect of such transaction(s). We do not hold any additional liability or warranty before the Client.
TERMINATION
Either the Client or Bitspace may terminate relationship with the other at any time, without reason, following settlement of any pending transactions. In the case of pending transaction, the termination will be effective when the terminating party receives the acknowledgment in writing of its notice to terminate a relationship with the other party. The termination does not affect any previous transactions, rights or obligations accrued prior to the notice of termination.

Except for the withdrawal of accumulated Funds if so, the Client will not be entitled to any remedy for discontinuing of the Services, all subject to this Agreement, applicable laws and regulations.

The Client understands and agrees that Bitspace at its sole discretion may terminate the Client’s access to the Website, web platform and the Client’s account.

Bitspace may also suspend or terminate your account for any or all of the following reasons:
    1. attempt by the Client or assistance at attempting to gain unauthorized access to the Website, web platform or another account, which is held by a third party;
    2. overcoming software security features limiting use of or protecting any content;
    3. use of the Services for performance of illegal activities (for example, money laundering, illegal gambling operations, financing terrorism, or other criminal activities, fraudulent payment for transactions);
    4. violations of this Agreement;
    5. upon the request of legal authorities, if Bitspace deems it to be legitimate and compelling acting in its sole discretion;

This list is not exhaustive.

Bitspace reserves the right to cancel unconfirmed accounts or accounts that have been inactive for a period of at least 6 months, and/ or to modify or stop Bitspace’s Website, web platform or the Services. The Client agrees that Bitspace will not be liable to him or to any third party for termination of his account or access to the Website or web platform.

Bitspace reserves the right to change, suspend, or discontinue all or any part or aspect of the Services at any time without notice.
MISCELLANEOUS
This Agreement constitute the entire agreement between you and Bitspace and governs your use of the Services via Website.

This Agreement shall be binding for both the Client and Bitspace, and for their respective successors and assigns, but the Client may not assign any of his rights and obligations under this Agreement or under any transaction without prior written consent of Bitspace.

Bitspace shall have the right to transfer and/or assign, at its sole discretion, to a third party, whether affiliated or not with Bitspace, all or part of its rights and/or obligations under this Agreement, and the Client shall be deemed to accept such transfer and/ or assignment.

If at any time any provision of this Agreement is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that provision will be enforced to the maximum extent permissible and neither the legality, validity or enforceability of the remaining provisions of the Agreement under the law of that jurisdiction nor the legality, validity or enforceability of such provision under the law of any other jurisdiction shall be in any way affected.

In case of discrepancy between the English version of this Agreement and the Website and other language versions of this Agreement and the Website, the English version shall prevail. Translations of this Agreement and the Website in other languages are not binding to Bitspace.

The titles of the sections in the Agreement are used solely for the convenience of you and Bitspace and have no legal or contractual significance.
DISCLAIMERS
Bitspace is a fiat currencies and Digital Assets exchange company that directly deals with its Clients, i.e., buys fiat currencies and Digital Assets from its Clients and sells fiat currencies and Digital Assets to its Clients. Bitspace does not act as an intermediary or marketplace between other buyers and sellers of fiat currencies and Digital Assets.

Nothing in this Agreement or Website or web platform, or otherwise communicated to you shall be understood or interpreted as an investment advice in connection with the Services contemplated by this Agreement or as an offer to enter into Agreement or an offer to buy or sell or the solicitation of an offer to buy or sell any fiat currencies and/ or Digital Assets. Bitspace may provide information on the price, range, volatility of cryptocurrencies and events that have affected the price of these, but this is not considered investment advice and should not be construed as such.

Any decision to purchase or sell currencies and/or Digital Assets is your decision and Bitspace will not be liable for any loss suffered.
Contact details
If you have any question in connection to these ToS please feel free to contact us at
contact@bitspace.ltd