Terms and Conditions

Last updated on December 24th, 2024

TERMS OVERVIEW

These Terms govern your use of the proprietary 1Bitcoin Platform ("Platform") operated by 1Bitcoin Inc. and its affiliates ("1Bitcoin.ca", “1Bitcoin”, "we", or "us"), which is accessible through the website provided by 1Bitcoin Inc. The Terms also apply to the trading and other Services provided by 1Bitcoin.ca as described herein, along with any schedules, terms, conditions, or addenda referenced.

Any and all new features or tools that are incorporated into our website at any point in the future shall also be held to the terms and conditions of this Service Agreement. You have the ability to examine the most up-to-date version of the Service Agreement at any given time by visiting this page. We maintain the right to revise, alter, or replace any aspect of this Service Agreement by publishing updates and/or modifications to our website. It is incumbent upon you to periodically review this page for any such changes. Your persistent utilization of, or entry into, the website after the posting of any such alterations shall constitute your acknowledgement and agreement to be bound by those changes.

SECTION 1 - ELIGIBILITY

In order to qualify for use of our financial services, it is necessary that you meet the following criteria:

(a) You have reached the age of majority, being at least 18 years of age;

(b) You are a citizen or resident of Canada; and

You acknowledge and agree that usage of the Services may have additional eligibility requirements, which may necessitate your provision of further information about yourself or your business or require further verification measures prior to the initiation of such Services, or periodically throughout the duration of your use of the Services, and that failure to adhere to these requirements may preclude your ability to use or access the Services.

SECTION 2 - PRIVACY

1Bitcoin is dedicated to safeguarding your privacy. Nonetheless, in our capacity as a regulated entity, we may be compelled to divulge your personal information to the Financial Transactions and Reports Analysis Centre of Canada, as well as other regulatory entities or law enforcement agencies. We may also reveal your personal information to credit bureaus, anti-money laundering service providers, or other identity verification partners in the course of establishing your 1Bitcoin account, or for the purpose of conducting routine assessments to ensure the accuracy of your information. Additionally, we may also share your personal information with financial institutions or other financial intermediaries. Our commitment to privacy is further elaborated upon in our privacy policy. Our privacy policy is also made public on our website and may be updated from time to time. You acknowledge having reviewed and comprehended our privacy policy.

SECTION 3 - REGULATORY STATUS

1Bitcoin is a federally registered money service business (#M21226416) that operates in accordance with Fintrac's regulations.

1Bitcoin is not affiliated with the Canadian Investor Protection Fund. Crypto contracts and Bitcoin that are acquired and kept in an account with 1Bitcoin.ca are not covered by the Canadian Investor Protection Fund, the Canadian Deposit Insurance Corporation, or any other investor protection insurance program.

SECTION 4 - ACCOUNT CREATION AND ACCESS

To use our services, you are required to create a 1Bitcoin account and provide any necessary information required in the process, in accordance with our KYC policy. Upon creating a 1Bitcoin account, you hereby agree to:

(a) provide truthful and precise information during your account creation;

(b) promptly update and maintain your necessary account information;

(d) promptly notify us in case of discovering or suspecting any security breaches concerning your account;

(e) take full responsibility for all activities occurring under your 1Bitcoin account, and assume all risks of authorized or unauthorized access to your account; and

(f) be solely responsible for maintaining the confidentiality and security of your account information and login credentials, and shall not disclose or provide access to your account for any third-party.

Creating multiple accounts under your name to either bypass restrictions, bans, or prior limitations placed on your previous account is a bannable offense and will not be appealable. This article does not apply to Corporate or Joint Account creations and is only applicable to Personal accounts.

SECTION 5 - THIRD-PARTY LINKS

The services available on our platform may contain content, products, and services provided by third-party entities. We hereby disclaim any liability, responsibility, or warranty for the accuracy, relevance, completeness, reliability, availability, or legality of such content, products, or services.

Links to third-party websites, applications, and resources may be provided on our platform as a convenience to our users. The inclusion of such links does not imply our endorsement or recommendation of any products, services, or information offered on such third-party websites, applications, or resources. We are not liable or responsible for any harm, loss, or damage arising from the use of or reliance on any third-party websites, applications, or resources, or any other transactions with third-party entities.

You agree that any transactions or interactions with third-party entities through our platform are at your own risk, and you should review the third-party's policies, terms of service, and privacy practices before engaging in any such transactions or interactions. Any complaints, claims, or concerns related to third-party products or services should be directed to the relevant third-party entity.

SECTION 6 - PROHIBITED USES

Upon accessing or using the Services, you agree to comply with all applicable laws and regulations, as well as these Terms and Conditions. You also agree that you are solely responsible for your conduct while using our Services, and that you will not violate any law, contract, intellectual property or other third-party right. You agree that you will not:

(a) Use our Services to pay for, support, or otherwise engage in any illegal gambling activities, fraud, money-laundering, terrorist activities, or other illegal activities;

(b) Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us to access our Services or to extract data;

(d) Sub-delegate or otherwise allow another person to trade using your access to the Platform;

(e) Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;

(f) Develop any third-party applications that interact with our Services without our prior written consent;

(g) Provide false, inaccurate, or misleading information;

(h) Encourage or induce any third party to engage in any of the activities prohibited under this Section;

(i) Use the Services to take advantage of or profit from any technical glitch, malfunction, failure, delay, default, or security breach;

(j) Impersonate another person;

(k) Violate the Terms;

(l) Violate any market misconduct prohibitions pursuant to applicable securities laws and criminal laws;

(m) Commit fraud; and

(n) Collude with others to help them commit fraud.

In the event that 1Bitcoin Inc. deems one or more of these conditions to be violated through your account activity, your funds may be subject to investigation, friction, restocking fees, and/or other fees pursuant to any losses potentially incurred by 1Bitcoin Inc. that have been directly caused by the violations of your account.

SECTION 7 - ACCOUNT LIMITATIONS OR TERMINATION

We reserve the right, at our sole discretion and without any notice or liability to you, to modify, restrict, amend, terminate, or alter the Services or any portion thereof. We also retain the right to rectify any errors or omissions in the Services, without notice, but acknowledge that we have no obligation to do so.

You acknowledge that 1Bitcoin Inc. will be responsible for monitoring and supervising your trading activity to ensure compliance with securities laws and our policies expressed in Section 6. You consent to our monitoring and supervising your trading activity, and agree that 1Bitcoin may share anonymized data relating to such trading activity with third-party service providers to make such determinations. You acknowledge that no securities regulatory authorities will be monitoring or supervising your trading activity, unless under the following conditions:

If, after investigation, your activity appears to be in breach of securities laws or our trading requirements identified within Section 6, we may take any or all of the following actions:

(a) Withdraw your right to make any further trades on the Platform;

(b) Require you to liquidate your Bitcoin holdings on the Platform as soon as possible;

(c) When all Crypto Assets have been sold, require that you provide us with wire transfer or e-Transfer instructions (to a Canadian financial institution) so that we can return your funds and close your account; and

(d) If necessary, report what we know about your trading activity to relevant securities and law enforcement authorities.

SECTION 8 - INDEMNIFICATION

By accessing and using the services provided by 1Bitcoin, you agree to indemnify and hold harmless 1Bitcoin, its affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, interns, and employees from and against any and all claims, damages, losses, liabilities, expenses, and costs (including reasonable attorneys' fees) arising from or in connection with your use of our services or your violation of these Terms of Service or any other referenced documents.

You acknowledge and agree that this obligation to indemnify and hold harmless extends beyond the termination of your use of our services and remains in effect, regardless of any expiration, cancellation, or termination of these Terms of Service or any agreement between us, or any discontinuation of our services.

SECTION 9 - TAX OBLIGATIONS

Please be advised that as a 1Bitcoin user, you are exclusively responsible for determining any and all taxes that may apply to your Bitcoin transactions. Neither 1Bitcoin, nor any contributors to our website are responsible for determining the applicable taxes for such transactions.

As a user, it is your responsibility to ensure that you comply with all relevant laws and regulations, including tax laws, related to your use of our website and any Bitcoin transactions conducted through 1Bitcoin. We strongly encourage you to consult with a professional tax advisor if you have any questions or concerns regarding the tax implications of your Bitcoin transactions.

1Bitcoin does not provide any tax-related advice or services. We do not take responsibility for tax reporting on your behalf. You are solely responsible for reporting and paying any applicable taxes in accordance with local laws. We recommend consulting with a qualified tax professional to address any questions or concerns regarding the tax obligations associated with your use of our platform or Bitcoin transactions.

SECTION 10 - LIMITATION OF LIABILITY

To the fullest extent permitted by law, 1Bitcoin Inc., its affiliates, directors, officers, employees, or agents shall not be held liable for any indirect, incidental, punitive, special, consequential, or exemplary damages, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses arising out of or in connection with your use of our services, even if we have been advised of the possibility of such damages.

In no event shall our aggregate liability to you for all claims arising out of or related to the services exceed the greater of $100 CAD or the amount you paid us in fees in the past 12 months for the specific service giving rise to the claim.

SECTION 11 - DISPUTE RESOLUTION

In the event of any dispute arising out of or relating to these Terms or your use of our services, you agree to first attempt to resolve the dispute informally by contacting our customer service team. If the dispute cannot be resolved informally within 30 days, it shall be resolved through binding arbitration in accordance with the laws of the province of Ontario, Canada.

The arbitration will be conducted in the English language, and each party will bear its own costs, except as may be otherwise required by applicable law. Any arbitration decision may be enforced in any court of competent jurisdiction.

SECTION 12 - GOVERNING LAW

These Terms and any separate agreements whereby we provide you services shall be governed by and construed in accordance with the laws of the province of Ontario and the federal laws of Canada applicable therein, without regard to conflict of law principles.

SECTION 13 - ENTIRE AGREEMENT

These Terms, together with any policies or operating rules posted by us on this site or in respect to the services, constitute the entire agreement and understanding between you and us and govern your use of the services, superseding any prior or contemporaneous agreements, communications, and proposals, whether oral or written, between you and us.

If any provision of these Terms is determined to be unlawful, void, or unenforceable, such provision shall nonetheless be enforceable to the fullest extent permitted by applicable law, and the unenforceable portion shall be deemed to be severed from these Terms. Such determination shall not affect the validity and enforceability of any other remaining provisions.

SECTION 14 - CHANGES TO TERMS

Please be advised that the latest version of the Terms of Service can be reviewed at any time on this webpage.

Kindly note that we retain the right, at our sole discretion, to amend, modify or replace any portion of these Terms of Service by publishing updates and changes to our website. As a user, it is your responsibility to review our website periodically for any modifications or updates. Your continued use of or access to our website or services subsequent to the publication of any revisions to these Terms of Service constitutes your acceptance of such changes.

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