Terms of Use of Non-Custodial Wallet Services

Last update: December 11, 2023

In case of discrepancy, the French version shall prevail.

1. Your Agreement to these Terms of Use

The Terms of Use of Non-custodial Wallet services (hereinafter referred to as the “Agreement”) is a contract between You, an individual customer, user, or recipient of a transfer (hereinafter referred to as “You”, “Your” or “Yours”) and Bity SA, having its registered office in Neuchâtel, Switzerland (hereinafter referred to as “Bity”), regarding the use of services (hereinafter referred to as the “Service” or “Services”) of Bity’s Non-custodial Wallet software (hereinafter referred to as the “Bity Wallet”) through Bity’s website (hereinafter referred to as the “Website”).

Bity Wallet is a Non-custodial Wallet software, which usually supports crypto-assets, such as Bitcoin (BTC), Ethereum (ETH), or Internet Computer Protocol (ICP). However, Bity reserves the right to expand to other crypto-assets at its sole discretion.

Please carefully read the following Agreement. By using the Services described below, You acknowledge that You have read, understood, and agree to be bound by the following Agreement, including any additional guidelines and future modifications.

By accepting this Agreement, You agree that this Agreement will apply whenever You use the Services. If You do not agree to be bound as required herein, then You cannot use the Services.

2. Availability of the Services

The Services are available 24/7. Bity strives to provide a 24/7 service, it may however happen that due to breaks in connections or Service maintenance, the Services are temporarily unavailable.

3. Services

With Bity Wallet You can:

  1. Store Your crypto-assets, after having generated a wallet address and an associated private key;
  2. Send, receive, and convert crypto-assets (“Crypto Exchange”);
  3. Sell crypto-assets through the crypto-asset ATM terminal (“Crypto ATM”);
  4. Make payments to the recipients with Bity’s online bill pay services (“Online Bill Pay”);
  5. Have access to Bity’s OTC trading Services (“OTC Trading”).

4. Third-Party Provider

Services can only be accessed through third-party providers, which Bity approved, such as Google Play, F-droid or (Apple) App Store (hereinafter referred to as “Third-Party Provider”). By using the Bity Wallet and the associated Services You do not enter into a contract with any of these Third-Party Providers. Bity remains Your contracting party.

To use these Third-Party Providers, You need a device that meets the system and compatibility requirements for the Services, a working internet connection and compatible software. The availability of content and features of the Third-Party Providers may vary from country to country. Third-Party Providers may be subject to separate policies, terms of use, and fees.

You may be required to accept the update of the software of Third-Party Providers in order to access their latest features, including their security updates. Bity is not responsible for any performance, or failure of any Third-Party Provider.

Special provisions regarding Google Play and App Store as Third-Party Providers:

Google and Apple may receive information about Your device’s network connections, potentially malicious URLs, operating system, and apps installed on Your device through Google Play, App Store or other sources to protect You from malicious third-party software, malicious URLs and other security issues. If an app or URL is deemed unsafe, You may receive a warning from Google and Apple. If the app is known to be harmful to devices, data or users, Google and Apple may also remove it or block its installation on Your device.

Accessing the App Store may require an Apple ID. An Apple ID is the account You use across Apple’s ecosystem.

You may not be able to use all features of the App Store when accessing them on a non-Apple-branded device.

5. Use of the Services and Wallet registration

You must provide all equipment and software necessary to connect to use the Services.

Bity Wallet Services can be used with or without a registered account. However, You can register on the Bity Website to open an account (hereinafter referred to as “User Profile”). Registration is free of charge and involves, after acceptance of this Agreement and the General Terms of Conditions of Bity, the creation of a User Profile. You are fully responsible for Your conduct while accessing or using the Website. You agree to use the Website only for purposes that are legal, proper and in accordance with this Agreement and any applicable laws and will under no circumstances harm Bity or other users of the Website.

6. Your responsibilities

You are the only one to control Your crypto-assets and Your private keys. You are the only one responsible for Your crypto-assets and Your private keys. In all circumstances, You are solely responsible for Your activity and any risk of loss.

You agree that You take into consideration all possible risks related to the use of the Services and that You are solely responsible for maintaining the confidentiality and security of Your private keys. When You create a Bity Wallet, You are strongly advised to take precautions in order to avoid loss of access to and/or control over Your Bity Wallet. Bity suggests measures, such as:

a. creating a strong password;
b. not storing the private keys in plain text online or in an unsecured physical location;
c. limiting access to Your devices through third parties;
d. using anti-virus software to protect Your device on which You have access to Your Bity Wallet;
e. immediately notifying Bity of any unauthorized use of Your private keys or any other breach of security of Your Bity Wallet.

It is also strongly suggested that You back up Your private keys. If You fail to do so, it may result in the loss of control of the crypto-assets in Your Bity Wallet.

Bity cannot generate a new password for Your Bity Wallet if You fail to remember Your original password. If You have not safely stored a backup of Your Bity Wallet private keys, You accept and acknowledge that any crypto-assets You have associated with Your Bity Wallet will become inaccessible. You acknowledge and agree that Bity does not receive or store Your private keys and that You are solely responsible for their backup.

7. Changes

Bity may change its Services from time to time. Bity will use commercially reasonable efforts to communicate to You any changes of the Services through Bity’s Website.

Bity reserves the right to modify any part of this Agreement at any time. It is Your responsibility to check this Agreement periodically for changes. Your continued use of the Services following the posting of any changes to this Agreement constitutes Your acceptance of those changes.

8. Fees

You are solely responsible for any fees, including Internet connection or mobile fees, that You incur when accessing or using the Services.

Transaction fees may occur by using the Services that are required either by Bity or by the blockchain network that You engage with or by the Third-Party Provider. You must ensure that You have an adequate balance on Your Bity Wallet to be able to use the Services. Bity will not be liable for any failed transactions or losses if You set the transaction fees too low or too high or due to insufficient funds on Your Bity Wallet.

9. Limitation of liability

Bity, as well as its directors, officers, employees, agents and shareholders, and third-party information providers, as well as their directors, officers, employees, agents, and shareholders, assume NO LIABILITY FOR DIRECT OR INDIRECT LOSSES OR DAMAGES OF ANY KIND resulting from the use of the Services. In particular, BITY's LIABILITY, as well as that of its administrators, directors, employees, agents and shareholders, for any prejudice or loss suffered as a result of an error, technical or otherwise, a transfer failure, an overload situation, a difficulty in use, a Service interruption (including, among others, the system maintenance service), a delay in the transmission of information, illegal intrusion (e.g., as a result of hacking), intentional blocking of telecommunication tools and networks or any other inadequacy of telecommunication or network service providers IS EXCLUDED. THE RISK OF EXCHANGE RATE AND FOREIGN CURRENCY LOSSES AS WELL AS FLUCTUATIONS IN YIELDS DUE TO AN UNFAVOURABLE DEVELOPMENT OF EXCHANGE RATES CANNOT BE EXCLUDED. INVESTMENTS IN CRYPTO-ASSETS ARE ASSOCIATED WITH SPECIFIC RISKS (SECTION 10 BELOW). THE LOW CAPITALISATION OF THE MARKET, ITS SPECULATIVE NATURE, AND THE ONGOING CHANGES IN THE REGULATORY FRAMEWORK IN VARIOUS COUNTRIES CONTRIBUTE TO HIGH VOLATILITY. YOU SHOULD FAMILIARISE YOURSELF CLOSELY WITH TECHNICAL AND REGULATORY DEVELOPMENTS IN THIS AREA, INCLUDING THE PUBLICATIONS OF THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY (FINMA).

Bity is connected to the blockchain which is not under the direct and/or indirect control of Bity. BITY DOES NOT TAKE ANY RESPONSIBILITY REGARDING THE BLOCKCHAIN NETWORK AND DOES NOT ENDORSE CRYPTO-ASSETS IN ANY WAY WHATSOEVER. Neither Bitcoin (BTC) nor any other crypto-assets You may have access to is managed by Bity or is under the responsibility of Bity. Bity is not responsible for the crypto-assets made available. By using Bity's Services, You acknowledge that Bitcoin (BTC), Ethereum (ETH), or any other crypto-assets, are experimental alternative assets, which are currently under development, and that their operation and evolution are not predictable.

BITY SHALL NOT BE LIABLE FOR ANY COST OR DAMAGE ARISING EITHER DIRECTLY OR INDIRECTLY FROM THE USE OF THE SERVICES. BITY CANNOT RETAIN THE PRIVATE KEYS THAT BELONGS TO YOUR BITY WALLET. YOU ACKNOWLEDGE THAT YOU ARE FULLY RESPONSIBLE FOR THE DESTRUCTION, THE LOSS OF YOUR PRIVATE KEYS, THE DAMAGE OF YOUR BITY WALLET BY NOT IMPLEMENTING ANY ANTI-VIRUS SOFTWARES, ANY UNAUTHORIZED USE OF YOUR WALLET ADDRESS AND/OR PRIVATE KEYS DUE TO YOUR FAILURE TO MAINTAIN THE CONFIDENTIALITY OF YOUR WALLET. IN NO EVENT WILL BITY BE LIABLE FOR ANY INCIDENTAL, CONSEQUENTIAL, OR INDIRECT DAMAGES ARISING OUT OF THE USE OF OR INABILITY TO USE THE SERVICES.

10. Risk factors

Crypto-assets are subject to technology-specific and other particularities, limitations and developments, and may be affected by various events. Crypto-assets are new, and the underlying technology, the blockchain, remains untested.

You acknowledge that there are high risks associated with using the Services, especially in a nascent environment like the crypto-assets and the blockchain/distributed ledger technologies. In this context, some risks are already identified, but some may not be identified at the date of this Agreement. For this reason, risks related to the Services performed by Bity are high and may lead to the loss, damage, deletion, removal, destruction, unavailability, inaccessibility and/or confiscation of all or part of Your crypto-assets, risks that You fully acknowledge without reservation.

You also acknowledge risks related to the fact that Bity is making the Services available through the Internet and/or through other means mutually acceptable to You and Bity, and that access to the Internet and the Services is dependent on numerous factors, technologies and systems, all of which are beyond the authority and control of Bity. You acknowledge and agree that Bity shall not be liable or responsible for any of Your inability to access the Service due to blockchain and/or computer network issues.

Bity takes commercially reasonable measures to identify and mitigate the risks associated with crypto-assets. Such risks include without limitation the following:

a. hacking and other attacks and attempts by third parties, in particular with respect to data establishinßg access to and enabling the disposition over crypto-assets, or individual transactions in crypto-assets; including but not limited to, denial of service attacks, smurfing, Sybil attacks, malware attacks or consensus-based attacks;
b. data theft, including hardware theft by physical intrusion;
c. the failure of hardware, software, solutions, third-party services and/or solutions, and internet connection;
d. loss of data;
e. internal or external fraudulent activities;
f. communication failures, disruptions, errors, distortions or delays You may experience when using the Services;
g. rules and conditions of the network protocols, including but not limited to bonding, lock-up, blocking, freezing periods, vesting, slashing ineligibility to receive crypto-assets or benefits for partial periods and minimum balances required.

Finally, holding crypto-assets may involve particular risks on the markets. Consequently, Bity shall not be responsible for any damage or loss resulting from the general investment risk in the markets, or due to the holding of crypto-assets in any country, including (but without limitation) any damages, losses or costs resulting from nationalization, civil unrest, any act by an administration or other acts or threats by any authority (de jure or de facto), expropriation or any other governmental act, regulations enacted by regulatory authorities in the banking or finance sector, any change in market regulations, currency devaluation, exchange control, or market conditions affecting the proper performance of transactions on securities or the value of assets of any kind. In addition to the risk stipulated above, there are other risks that Bity cannot foresee at the time of the Agreement and may depend on internal and external factors.

Risks may also occur as unanticipated combinations or as changes, evolution, or adjustments of the risks stipulated above. Bity provides no guarantee against the consequences of such risks.

Bity does not warrant nor guarantee in any form whatsoever the integrity of the crypto-assets related to the Services of Bity.

You acknowledge and accept that Bity shall not be responsible for any of these above-mentioned risks. In particular, You shall bear any loss or damage resulting from non-compliance with Your own duties of care as well as any other loss or damage resulting from events or the materialisation of risks outside the sphere of influence of Bity, including without limitation any hacking, intrusions or other attacks by third parties targeting any elements outside the sphere of influence of Bity, such as the external systems, nodes or other physical or virtual elements of blockchains, digital, distributed and encryption ledgers or other databases not operated by Bity, or individual addresses within such databases, as may be relevant to the existence, access to or disposition over Your crypto-assets.

You shall be required to cooperate with Bity as required or deemed useful by Bity to address and mitigate the risks in connection with the Services. In particular, You shall under no circumstances communicate or pass on any addresses provided to You by Bity in connection with the Services to any other person or third party. Any costs associated with the creation of new distributed ledger addresses and transfers of crypto-assets in connection with a violation by You of such duty shall be borne by You.

11. No warranties

WE DO NOT MAKE ANY EXPRESS OR IMPLIED WARRANTIES, REPRESENTATIONS OR ENDORSEMENTS WHATSOEVER WITH REGARD TO THE BITY WEBSITE, THIRD-PARTY PROVIDERS, ANY MERCHANDISE, INFORMATION OR SERVICE PROVIDED THROUGH THE BITY WEBSITE OR ON THE INTERNET GENERALLY. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS AND USEFULNESS OF ALL OPINIONS, ADVICE, SERVICES, MERCHANDISE AND OTHER INFORMATION PROVIDED THROUGH THE WEBSITE, THIRD-PARTY PROVIDER OR ON THE INTERNET GENERALLY. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED OR ERROR-FREE. THE SERVICES AND ANY INFORMATION MADE AVAILABLE ON THE BITY WEBSITE ARE PROVIDED ON AN “AS IS, AS AVAILABLE” BASIS.

12. Indemnity

You undertake to indemnify Bity and hold Bity harmless from and against:

a. all claims, damages, commitments, disbursements, taxes and other liabilities incurred or suffered by Bity resulting directly from Bity carrying out its obligations under this Agreement;
b. all reasonable charges and expenses, including legal and correspondent fees, suffered by Bity resulting directly from Bity carrying out its obligations under this Agreement, in line with relevant market practice;
c. all claims, losses or commitments resulting from a breach by You of the representations and warranties made by You in this Agreement;
d. all economic and legal consequences (a) of any measures taken by authorities, regulatory or self-regulatory bodies in any relevant jurisdiction(s), including without limitation those where the Services concerning the crypto-assets are used, or (b) resulting from the exercise of consensus or similar mechanisms in respect of crypto-assets, including without limitation any prohibitions or restrictions of transfers, limitations to, suspension or exclusion of convertibility or changes to functionality, which may affect Your crypto-assets used in connection with the Services.

13. Access to the Services

You must be at least 18 years old to be able to use the Services. Any fraudulent use of the Services, or any use for any illegal, improper, or unethical purpose, is strictly prohibited. Bity has the right to block access to the Services at its sole discretion and without prior notice to You.

You warrant that all information provided by You or on Your behalf to Bity under or in connection with this Agreement is true, complete and accurate and is not misleading in any respect, and no event or circumstance has occurred or arisen and no information has been omitted that results in the information provided by You or on Your behalf to Bity under or in connection with the Agreement being untrue or misleading in any respect.

14. Support

If you have any questions or problems regarding our Services, please contact us via the help bubble on our website: https://bity.com.

15. Miscellaneous

15.1 Commitments

Bity has made no commitments or promises orally or in writing with respect to the delivery of any future features or functions of the Services. In relation to any future features or functions, all presentations, request for proposal responses, and/or product roadmap documents, information or discussions, either prior to or following the entering into this Agreement, are for informational purposes only, and Bity shall have no obligation to provide any future releases or upgrades or any features, enhancements or functions, unless specifically agreed to in writing by both Parties. You acknowledge that no decisions are based upon any future features or functions of the Services.

15.2 Notice

All notices and other communications made or to be made pursuant to this Agreement shall be given in writing and You agree that all communication Bity provides to You electronically satisfies any legal requirement that such communications be in writing.

15.3 No waiver

No failure to exercise and no delay in exercising on the part of any of the Parties any right, power or privilege under this Agreement shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies provided by this Agreement are cumulative and not exclusive of any rights or remedies otherwise provided by law.

15.4 Severability

Every term and provision of this Agreement is intended to be severable. If any provision of this Agreement is determined by a competent court to be invalid, inoperative, or unenforceable for any reason, the Parties shall negotiate in good faith to modify this Agreement so as to affect the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby be consumed as originally contemplated to the fullest extent possible. In the event of one of the provisions of this Agreement being void, cancelled, or rendered otherwise invalid, the validity of the remaining parts of this Agreement shall not be affected or impaired.

15.5 No third-party beneficiaries

The provisions of this Agreement are intended solely to benefit the Parties and, to the fullest extent permitted by applicable law, shall not be construed as conferring any benefit or right upon any other third-party (including any of Your creditors) and no such other third-party shall be a third-party beneficiary of this Agreement, or have any right to enforce any term of this Agreement.

15.6 Future changes in applicable law

This Agreement is based on laws and regulations which are subject to change through legislative, judicial or administrative action. Other legislation could be enacted that would subject the Agreement to change and increase risk. It is Your duty to consider legal or tax advice if needed and consult Your own counsel regarding tax laws and regulations of any other jurisdiction which may be applicable to them.

16. Entire Agreement

The GTC, the Terms of Use for Crypto-Asset Distributors and the Terms of Use for Non-Hosted Wallet Services constitute the entire agreement between the Parties with respect to the subject matter of these three agreements. They replace and supersede any previous version concerning the same subject matter.

17. Assignment

This Agreement shall not be assigned without Your prior written consent or without the prior written consent of Bity.

18. Applicable law and competent courts

This Agreement shall be governed by and construed in accordance with the Swiss law without giving effect to the conflict of laws of Switzerland (IPRG) or to the United Nations Convention on Contracts for the International Sale of Goods of April 11, 1980, or Your actual state or country of residence. Any dispute, controversy or claim arising out of or in relation to this Agreement, Your relationship with Bity, including any non-contractual obligations, will be exclusively subject to the jurisdiction of the courts of Neuchâtel, Switzerland.

19. Place of execution

This Agreement is considered to be executed solely in Switzerland.

Bity is a Swiss based brokerage for buying, selling, trading cryptocurrency
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