ACCEPTANCE OF TERMS OF SERVICE
Depending upon context, "Alphabits Trading" may also refer to the services, products, Site, content or other materials (collectively, "Materials") provided by Alphabits Trading. The Service operated by Alphabits Trading allows buyers("Buyers"and sellers ("Sellers"), to buy and sell the Internet currency known as "Bitcoins" (see http://bitcoin.org). The Service operated by Alphabits Trading also allows all registered users of the Service ("Members") to: Transfer Bitcoins to you or other Members or other users of Bitcoin outside the Alphabits Trading site. Use Bitcoins for purchasing goods.
By opening an account to use the Service ("Account"), You expressly represent and warrant:
1. You have accepted these Terms; and
2. You are at least 18 years of age and have the full capacity to accept these Terms and enter into a transaction involving Bitcoins.
The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Prices can and do fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency - virtual or not - may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market.Bitcoin trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or bycommodities such as gold or silver,
Bitcoin is a unique kind of "fiat" currency, backed by technology and trust. There is no central bank that can take corrective
measure to protect the value of Bitcoins in a crisis or issue more currency.Instead, Bitcoin is an as-yet autonomous and largely unregulated worldwide system of currency firms and individuals.
Traders put their trust in a digital, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity.
Bitcoin trading is probably susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changesimposed by the software developers or others, a government crackdown, the creation of superior competing alternative currencies,
LIMITED RIGHT OF USE
Unless otherwise specified, all Materials on this Site are the property of Alpha bits Trading and are protected by copyright,
trademark and other applicable laws. You may view, print and/or download a copy of the Materials from this Site on any single
computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices. The trademarks, service marks and logos of Alpha Bits Trading and others used in this Site ("Trademarks") are the property of Alpha bits Trading and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video and audio used on this Site belong to Alpha bits Trading. The Trademarks and Material should not be copied, reproduced, modified, republished, uploaded, posted,transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any such Materials on any other Site or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark and other applicable laws and could result in criminal or civil penalties.
MAINTAINING YOUR ACCOUNT: OUR RULES
This Site is for Your personal use only. We are vigilantinmaintaining the security of our Site and the Service. By registering with us,
you agree to provide Alphabits Trading with current, accurate, and complete information about Yourself as prompted by the registration process, and to keep such information updated. You further agree that You will not use any Account other than Your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access. The creation or use of Accounts without obtaining the prior express permission from Alpha bits Trading will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale orders. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated.Termination is not the exclusive remedy for such a violation, and Alpha Bits Trading may elect to take further action against You.You also are responsible for maintaining the confidentiality of Your Account information, including your password, safeguarding your own Bitcoin, and for all activity including Transactions that are posted to Your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from You, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests,or accept termination of Your Account. You are required to notify Alpha Bits Trading immediately of any unauthorized use of Your Account or password, or any other breach of security by email addressed to [email protected]
Any Member who violates these rules may be terminated, and thereafter held liable for losses incurred by Alpha Bits Trading or any user of the Site.
Finally, You agree that You will not use the Service to perform criminal activity of any sort, including but not limited to, money laundering,illegal gambling operations, terrorist financing, or malicious hacking. We will report all crimical activities to the law enforcement agencies.
You may terminate this agreement with Alpha Bits Trading, and close your Account at any time, following settlement of any pending transactions.
You also agree that Alpha Bits Trading may, by giving notice, in its sole discretion terminate Your access to the Site and to Your Account, including without limitation, our right to: limit, suspend or terminate the service and Members Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content, and take technical and legal steps to keep Members off the Site if we think that they are
creating problems or possible legal liabilities, infringing the intellectual property rights of third parties, or acting inconsistently withthe letter or spirit of these Terms. Additionally, we may, in appropriate circumstances and at our discretion, suspend or terminate Accounts of Members for any reason, including without limitation:
(1) attempts to gain unauthorized access to the Site or another Member's account or providing assistance to others' attempting to do so.
(2) overcoming software security features limiting use of or protecting any content.
(3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities.
(5) failure to pay or fraudulent payment for Transactions.
(6) unexpected operational difficulties.
(7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by Alpha Bits Trading, acting in its sole discretion.
(8) use any tools or softwares to conceal identities or having abnormal or unclear activities.
We also reserve the right to cancel unconfirmed Accounts or Accounts that have beeninactive for a period of 6 months or more, and/or to modify or discontinue our Site or Service or request to verifyinformation to be able to continue using the Service. Members agree that Alpha Bits Trading will not be liable to them or to any third party for termination of their Account or access to the Site.
Unless with an acceptable reason, one person ID and name is allowed to open one account only. We will close all other accounts and keep one active account only. The suspension of an Account shall not affect the payment of the bitcoins bought for in past Transactions. Upon termination, Members shallcommunicatea valid bank account to allow for the transfer of any currencies credited to their account. Said bank account shall be held by the Member.
Bitcoins may be transferred to a valid bank account only after conversion into a currency. Alpha Bits Trading shall transfer the currencies as soonas possible following the Member\'s request in the time frames specified by Alphabits Trading.
We may suspend use of the Site for maintenance and will make reasonable efforts to give you notice. You acknowledge that this may not be possible in an emergency.
APIS AND WIDGETS
We may provide access to certain parties to access specific data and information through our API (Application Programming Interface) or through widgets.
We also may provide widgets for Your use to put our data on your Site. You are free to use these in their original unmodified and un-altered state.
EXTERNAL WEB SITES
Alphabits Trading makes no representations whatsoever about any other Site which you may access through this Site. The Site may provide links or other
forms of reference to other websites ("External Web Sites") or Resources over which we do not have control ("External Web Sites").
In such case you acknowledge that Alpha Bits Trading is providing these links or references to you only as a convenience.
Alpha Bits Trading is not responsible for the availability of, and content provided on, third party Sites. You are requested to review the policies posted by other Sites regarding privacy and other topics before use. Alphabits Trading is not responsible for third party content accessible through the Site, including opinions, advice, statements, prices, activities andadvertisements, and you shall bear all risks associated with the use of such content. It is up to you to take precautions to ensure that whatever you select for your use is free of such items as viruses, worms, Trojan horses and other items of a destructive nature.
We may provide information on the price, range, volatility of Bitcoins and events that have affected the price of Bitcoins but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell Bitcoins is Your decision and We will not be liable for any loss suffered.
Our business model, and our Service, consists of the buying, selling and trading of Bitcoins and their use to purchase/exchange goods in an unregulated, international open payment system. Supporting Blockchain Forks and Other Cryptocurrencies.
From time to time, new and alternative cryptocurrencies and/orforks of the Bitcoin blockchain may be created,
including in ways that allow persons who have access to a private key holding a Bitcoin balance to receive a corresponding
amount of the new cryptocurrency on the other blockchain (“air-drop”). We have the right, in our sole discretion, to decide
on whether and how we support new cryptocurrencies and/or blockchain forks in our services, including also, if necessary, the determination ofwhich blockchain shall be deemed as Bitcoin within the meaning of this Agreement. In any case, we will strive to communicate our decisions concerning any significant new forks or cryptocurrencies on our website reasonably in advance. If we decide not to support a new cryptocurrency,we may decide, but are not obligated, to compensate customers who held Bitcoin on their LocalBitcoins account at the time of the air-drop in a manner deemed appropriate by us, such as by converting all of the available new cryptocurrency to Bitcoins and sharing all of the converted Bitcoins betweenthe users who held a Bitcoin balance on their accounts at the time of the creation of the new cryptocurrency. In such cases, we have the right to charge
you a processing fee for such conversion in any amount deemed reasonable to us in our sole discretion but not exceeding the amount of compensation payable to you.
If we decide to support a new cryptocurrency, unless otherwise communicated by us, these Terms of Service, including any reference to Bitcoin, shallbe equally applied to the new cryptocurrency.
In order to handle a blockchain fork in a way that ensures the security and reliability of our services, we may deem it necessary to temporarily suspendthe services. In such cases, we will resume the services as soon as reasonably possible in our discretion.
We cannot guarantee that the decisions we take under this Section will be suitable, desirable or practical to you. If you are concerned about our decisions, stances or the lack thereof regarding any given blockchain fork or new cryptocurrency, we recommend that you withdraw your balance and handle the situation on your own as you see fit. We are not in any circumstance liable for any damage, losses, expenses or harm resulting to you from the use of our rights under this Section.
Email messages sent over the Internet are not secure and Alpha Bits Trading is not responsible for any damages incurred by the result of sending email messages over the Internet. We suggest sending email in encrypted formats; you are welcome to send PGP encrypted emails to us.
The instructions and keys to do so are available upon request.
LIMITATION OF LIABILITY
To the extent permitted by law, Alpha Bits Trading will not be held liable for any damages, loss of profit, loss of revenue,
loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered arising from negligence or willful deceit or fraud. Nothing in these terms excludes or limits the liability of either party for fraud, death or personalinjury caused by its negligence, breach of terms implied by operation of law, or any other liability which may not by law be limited or excluded.
Subject to the foregoing, Alpha Bits Trading's aggregate liability in respect of claims based on events arising out of or in connection with any single Member's use of the Site and/or Service, whether in contract or tort (including negligence) or otherwise, shall in no circumstances exceed the greater of either (a) the total amount held on Account for the Member making a claim less any amount of payments that may be due and
payable in respect of such Account; or (b) total amount of the Transaction(s) that are the subject of the claim less any amount of Commission that may be due and payable in respect of such Transaction(s).
We are allowed to block or freeze a members's account when the conditions are met: the request of the government authorities in accordance to the law; a mistake found in the fund of the customer's account or at the request of the money transfer service supplier or banks; upon suspicion of fraudulentactivities or law violations; notification from one of the other users about trades.
All funds from accounts related to fraud, law violation or be unable to clarify the suspicious activities will be seized totally.
The fund will be used to compensate the victims directly. In case the amount of money collected is less than the sum of all the victims, all the money will be distributed to the victims at the rate of damage.
MODIFICATION OF TERMS
Alpha Bits Trading reserves the right to change, add or remove portions of these Terms, at any time, in an exercise of its sole discretion.You will be notified of any changes in advance through your Account. Upon such notification, it is your responsibility to review the amended Terms.
Your continued use of the Site following the posting of a notice of changes to the Terms signifies that you accept and agree to the changes, and that all subsequent transactions by you will be subject to the amended Terms.
Bitcoins: means the Peer-to-Peer internet currency further described at http://bitcoin.org.
Buyer(s): means Member(s) that are submitting an offer to buy Bitcoins through the Service.
Member(s): means Buyers and Sellers as well as any holder of an Account.
Orders or request: means the decision of a member to buy from or sell bitcoin to us on our platform.
Price: means "price per coin" for which Members are willing to purchase or sell Bitcoins, using the Service in a Bitcoin Purchase Transaction.
Seller(s): means Member(s) that are submitting an offer to sell Bitcoins through the Service.
Service(s): means the technological platform, functional rules and market managed by Alpha Bits Trading Ltd. to allow Sellers and Buyers to
purchase and sale transactions of Bitcoins.
Transaction: means (i) the agreement between the Buyer and the Seller to buy or sell Bitcoins to Alpha Bits Trading for Fiat Naira at a commonly agreed rate
("Bitcoin Purchase Transaction"), (ii) the conversion of currencies into Bitcoins deposited by Members on their account ("Conversion Transaction"),
(iii) the transfer of Bitcoins among Members ("Bitcoin Transfer Transaction"), (v) the purchase of ancillary products ("Purchase Transactions").
Alpha Bits Trading may not offer all of these types of transactions at this time or in all places.
Transaction Price: means the total price paid by the Buyer in respect of each Transaction performed through the Service.
If any part of provision this Agreement is deemed unlawful, void or for any reason unenforceable, then that provision shall be deemed to beseverable from this Agreement and shall not affect the validity and enforceability of any of the remaining provisions of the Agreement.
This Agreement (as amended from time to time) contains the entire agreement and understanding between us in respect of all matters which are referred to herein and supersedes any prior written or oral agreement between us 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 and you agree that you shall have no remedy in respect of any misrepresentation which hasnot become a term of this Agreement. However, nothing in this Agreement purports to exclude liability for any fraudulent statement or act.
You agree that this Agreement and any dispute between you and us shall be governed in all respects by the laws of The Federal Republic of Nigeria,without regard to their choice-of-law provisions, and excluding the application of the 1980 U.N. Convention on Contracts for the International Sale of Goods.
Except if prohibited and without limitation to any statutory rights for consumers under applicable consumer protection laws, you agree that all disputes,claims and proceedings arising out of or relating to the services shall be resolved by the competent courts of Nigeria. All claims shall be brought within one
(1) year after the claim arises. Failure of either party to exercise in any respect any right under this Agreement shall not be deemed to be a waiver of such right.
The services are controlled and offered by us from Nigeria. We make no representations that the services appropriate or available for use in other countries.
Members of alphabits.co are themselves responsible for making sure they are in compliance with legislation of the jurisdiction they operate and reside in.
your Account, or any other matter, please contact [email protected]