Terms of Service

3.1. Entire Agreement

This Agreement, the Privacy Policy and AML Policy (collectively "Policies") contain the entire agreement and understanding between you and the Company in respect of all matters referred to herein and supersede any prior written or oral agreement relating to such matters. No oral explanation or oral information given by either of us shall alter the interpretation of this Agreement. You confirm that, in agreeing to accept this Agreement, you have not relied on any representation that is not expressly included herein. However, nothing in this Agreement purports to exclude liability for any fraudulent statement or act.

The Policies are written in English. If the Policies are translated into another language, the English version shall prevail.

3.2. Severability

If any provision of this Agreement is deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed to be severable from this Agreement and shall not affect the validity and enforceability of any remaining provisions of the Agreement.

3.3. Governing Law

This Agreement and any dispute between you and the Company arising out of or in connection with this Agreement shall be governed in all respects by the laws of Greece, without regard to their choice-of-law provisions. Except as provided in applicable consumer protection laws, all disputes, claims and proceedings shall be resolved in the first instance by the district court of Athens, Greece. Our failure to enforce any right or provision in this Agreement will not constitute a waiver of such right or provision unless acknowledged and agreed to by us in writing. Except as expressly set forth in this Agreement, the exercise by either party of any of its remedies under this Agreement will be without prejudice to its other remedies under this Agreement or otherwise permitted under law.

5.1 Account Permitted Use

In order to maintain the integrity of BitValve, it is strictly prohibited to use your account as an intermediary or broker for any individual or entity. As the account holder, you are solely responsible for maintaining adequate security and control of your username, password, authentication code, or any other code or credential that you use to access the Services. Any misleading or fraudulent information provided in connection with your account, including the use of a non-personal phone number, falsified reputation information, misrepresentation of your country of origin, or submission of fraudulent identification documents is strictly prohibited and will result in the termination or suspension of your account. You reserve the right to delete your account and terminate this Agreement at any time, but remain accountable for all obligations that have arisen prior to termination.

By registering and using BitValve, you assert and guarantee that you are in conformity with all applicable federal and state laws and regulations governing Money Service Businesses, Cryptoasset Businesses, Virtual Asset Service Providers, or similar applicable regulations in the jurisdiction where you are located.

5.2 Account Verification

In order to ensure compliance with legal requirements and to guarantee the safety of all users, it may be necessary for us to request identity verification before granting access to BitValve. Verification may be required when creating offers, reaching certain trade volume thresholds, during trade disputes, fraud investigations and to confirm account ownership. Additionally, to fully utilize our Custodial Wallet Service, verification will be mandatory.

As part of our identity verification process, we will request your full name and documentation or photographs that confirm your identity (such as a valid ID and a selfie).

In some cases, we may require enhanced identity verification, particularly if there are regulatory or legal requirements that mandate such measures. This may include the need to verify details or sources of funds related to payments made or received during trades on our platform and/or deposits and/or withdrawals.

Please refer to our AML Policy for detailed information regarding our Account Verification process and our Levels of Due Diligence and K.Y.C Procedure. By using our platform, you agree to abide by our AML Policy.

5.3 Limitation, Suspension, and Termination of Your User Account

From time to time, we may need to limit, suspend, or terminate user accounts for various reasons. In the event of account limitations, users may temporarily or permanently lose access to certain parts of our Services. In the case of account suspensions, users will lose temporary access to most parts of our Services. In the event of account termination, users will permanently lose access to all of our Services.

In the event of a limitation, suspension, or termination of a user account, access to and the withdrawal of cryptocurrencies in the user's wallet may be delayed or denied. If cryptocurrency transactions are made to wallet addresses associated with a terminated or deleted account after the termination or deletion, we have no obligation to return the cryptocurrencies, and the user agrees that they become the property of the Company.

We reserve the right to limit, suspend, or terminate user accounts or access to BitValve if there are reasonable grounds to believe that the user has violated our Terms of Service, applicable laws or regulations, or if we suspect that any content or material submitted or shared by the user in or through BitValve violates these Terms of Service or applicable laws or regulations or third-party rights.

We may also limit, suspend, or terminate user accounts if we suspect that the user is engaged in fraudulent activity, money laundering, terrorist financing, or other financial crimes. If we cannot verify a user's identity or believe that the user has supplied false, misleading, or deceptive information in connection with their registration, identity verification, trades, or any other use of BitValve, either to us or to another user, we may limit, suspend, or terminate the user's account.

We may also limit, suspend, or terminate user accounts or access to BitValve if we are required to do so under any applicable law, regulation, or an order issued by an authority or court. If a user engages in any behaviour that libels, defames, invades privacy, stalks, is obscene, pornographic, racist, abusive, harassing, threatening, or offensive, we may limit, suspend, or terminate their account.

If a user uses BitValve in a manner that may cause interruption or damage, or if they attempt to bypass or break any security mechanism of BitValve, or if we believe in good faith that such action is reasonably necessary to protect the security of BitValve, property, or brand, or the security, property, and rights of our users or those of third parties, we may limit, suspend, or terminate their account. If a user attempts any unauthorized access to user accounts or any part or component of BitValve, we may limit, suspend, or terminate their account. We will give notice to users of any limitation, suspension, or termination of their account, but we may, if it is reasonable to do so (for example, we consider it advisable for security reasons), limit, suspend, or terminate their account without prior notice to them. Users acknowledge that our decision to limit, suspend, or terminate their account may be based on confidential criteria that are essential to our risk management and security protocols. We are under no obligation to disclose the details of our risk management and security procedures to users unless otherwise provided by the Privacy Policy. In the event that we limit, suspend, or terminate a user's account, we will lift the suspension as soon as possible once the reasons for the suspension or termination no longer exist.

6.1 Terms of Trading

Once cryptocurrency is transferred into escrow, the trade must proceed according to the terms agreed upon by both the buyer and the seller.

Typically, this entails the buyer transferring the agreed-upon local currency payment to the seller via an approved payment method. Once the local currency payment has been received in full and cleared funds, the cryptocurrency held in escrow must be released.

If the buyer fails to make the payment within a specified timeframe (the “Payment Window”), the seller may cancel the escrow.

When selling cryptocurrency, it is your responsibility to confirm that you have received payment for the full amount, that the payment was not made by a third party to the trade without authorization, and that it was made according to your instructions given to the buyer. Once the escrow is released and the trade is completed, it is not possible to cancel, reverse, dispute, recover, or return the cryptocurrency.

Buyers must send payments from the same account or entity that holds the account or company account unless authorized by the payee. Receiving, making, providing, or attempting to receive, make or provide payments to or from third parties is prohibited and considered a violation of this Agreement unless authorized by the third party.

Asking for payment without escrowing the crypto funds, and requesting payment outside of the BitValve marketplace is strictly prohibited and may result in a permanent account ban.

6.2 Disputing Trades

When a buyer and a seller are in disagreement over a trade, either party or the Company can start a dispute ("disputed trade” or "dispute") to initiate a mediation process on the cryptocurrency held in escrow. Disputed trades are reviewed and resolved by the Company’s support staff.

Disputes can only be started on trades that are open and marked as paid by the buyer but not yet released by the seller. Trades that are not marked as paid by the buyer, have been released by the seller, or already disputed and resolved are considered completed and cannot be disputed, reversed, altered or refunded. Our support has the right to re-open trades when the payment has been made but the trade has been cancelled.

The Company does not become a guarantor of any party’s performance of a trade. Therefore, although the Company helps in resolving disputes, you assume the risk that any party with whom you trade (“counterparty”) fails to perform in accordance with your agreement with the counterparty. By using BitValve, you release us from any liability arising out of or related to a counterparty’s failure to perform as agreed.

6.3 Communications between users

All communication between buyers and sellers must take place through BitValve. Users are responsible for maintaining adequate records of communications, transaction details, and financial history as required by applicable laws in their jurisdiction. Users must not engage in offensive, abusive, unlawful, defamatory, indecent, or inappropriate communication with other users. Users acknowledge that communications on BitValve are not considered private, and that the Company is a party to such communications. The Company may access and process such communications in accordance with the Privacy Policy. Communications that have not occurred on BitValve or that have been hidden, encrypted, or otherwise obstructed from view will not be considered during dispute review and resolution. In such circumstances, we may be unable to proceed with dispute resolution.

6.4 Risky Payment Methods

We offer multiple payment methods on BitValve for your convenience. However, please note that each payment method comes with its own level of risk, and you are solely responsible for assessing which method suits you best. Before using any payment method, you should conduct appropriate research and risk management to ensure that you fully understand the associated risks. The Company will not be held liable for any chargeback or unauthorized refund claimed by a user, and you assume all risk associated with your choice of payment method.

6.5 No Guarantee

The Company does not guarantee that you will be able to sell or buy cryptocurrencies on BitValve nor that a trade will be successfully completed. The act of buying or selling cryptocurrencies via BitValve does not guarantee that you will be able to buy or sell cryptocurrencies at a later time.

9.1 Limiting Access to Your Wallet

In certain circumstances, we may need to restrict your access to your Wallet. This restriction may prevent you from conducting transactions or initiating trades. The Company may apply this restriction specifically to your account to safeguard the funds stored in your wallet.

Examples of circumstances where we may apply this restriction include, but are not limited to: (i) if we suspect that a third party has gained unauthorized access to your account, or (ii) if we suspect that you are engaging in fraudulent or illegal activities.

We may also apply this restriction generally to all users or a subset of users during service outages or maintenance outages of the website, or other situations where we believe there is a high risk to your funds.

If we limit your access to your wallet, we aim to remove the limitation as soon as possible once the reasons for the limitation no longer exist.

We will provide you with notice of any limitation of access to your wallet. However, we may limit access to your wallet without prior notice if it is reasonable to do so, for example, if we consider it advisable for security reasons.

Please be aware that the Company’s decision to limit access to your wallet may be based on confidential criteria that are essential to its risk management and security protocols. The Company is under no obligation to disclose the details of its risk management and security procedures to you, unless otherwise provided by the Privacy Policy.

9.2 Supporting Blockchain Forks and Other Cryptocurrency Networks

10.1 Eligibility and Enrollment

To become a part of the BitValve Affiliate Program, individuals must possess an active BitValve.com account. Upon joining, participants, referred to as "Referrers" or "Affiliates", embark on a mission to introduce new users, known as "Referrals," to the BitValve P2P Exchange platform, utilizing a unique referral link available on the platform for this purpose.

10.2 Roles and Rewards

Referrers are tasked with leveraging their social media (such as Twitter posts), blogs, and other channels to educate and attract new users to BitValve, emphasizing the benefits of trading cryptocurrencies on our platform. In return, Referrers earn a percentage of the trading fees from transactions made by their Referrals, applicable for the first twelve months of the Referral's registration.

10.4 Withdrawing Rewards

Once a Referrer's reward balance reaches a minimum threshold, they can transfer the balance (referred to as "Claim Reward") to their BitValve Wallet. This process is subject to BitValve's volume limits and may require additional verification steps, such as KYC Verification, to ensure compliance with regulatory requirements.

10.5 Prohibited Actions and Compliance

To maintain the integrity of the Affiliate Program, specific prohibited actions have been outlined. These include spamming, engaging in illegal activities, using deceptive practices to boost rewards, and misrepresenting BitValve. Violations may result in suspension or termination of your account and forfeiture of rewards.

10.6 Intellectual Property and Content Usage

All intellectual property rights associated with BitValve's website, content, and marketing materials are exclusively owned by BitValve. Referrers are required to use only provided or approved materials for promotional purposes, respecting all copyright and trademark laws.

10.7 Program Modifications and Termination

BitValve reserves the right to modify, suspend, or terminate the Affiliate Program or an individual's participation at any time. This may include changes to the terms and conditions, reward structure, or eligibility requirements, with or without notice.

10.8 Legal and Regulatory Adherence

Participants are expected to conduct themselves legally and ethically, adhering to all applicable laws and BitValve's terms of service. This includes avoiding any actions that could harm BitValve's reputation or result in legal or regulatory scrutiny.