Bitwyre Terms & Conditions

These Terms form a legally binding agreement between you ("you" or "your") and Bitwyre ("Bitwyre," "we," "our," or "us"). They govern your use of the Bitwyre Services available on or through the Platform or otherwise. Bitwyre Services may be provided by Bitwyre or, as specified in these Terms, any Product Terms, or any additional terms, by a Bitwyre Affiliate.

By registering for a Bitwyre Account, accessing the Platform, and/or using the Bitwyre Services, you confirm that you have read, understood, and accepted these Terms, along with any additional documents or terms mentioned herein. You agree to be bound by and comply with these Terms, as they may be updated and amended periodically.

If you do not fully understand and accept these Terms, you should not register for a Bitwyre Account, access the Platform, or use any Bitwyre Service.

Risk Warning

As with any asset, Digital Assets can experience significant value fluctuations, posing a substantial risk of economic loss when buying, selling, holding, or investing in them. You should assess whether trading or holding Digital Assets is appropriate for you, considering your financial situation.

For more details on the risks associated with using Bitwyre Services, please refer to our Risk Warning, which may be updated periodically. Although the Risk Warning is informative, it does not cover all potential risks or how they might affect your personal circumstances.

Ensure you fully understand the risks involved before deciding to use Bitwyre Services.

We are not your broker, intermediary, agent, or advisor, and we have no fiduciary relationship or obligation to you regarding any transactions or activities you undertake using Bitwyre Services. We do not provide investment or consulting advice, and any communication or information we provide is not intended to be, nor should it be taken as, advice of any kind.

You are responsible for determining whether any investment, investment strategy, or related transaction is suitable for you, based on your personal investment objectives, financial situation, and risk tolerance. You are accountable for any resulting losses or liabilities. We do not recommend that you buy, earn, sell, or hold any Digital Asset. Before making any decisions regarding Digital Assets, you should conduct your own research and consult your financial advisor. We are not responsible for any decisions you make to buy, earn, sell, or hold Digital Assets based on the information we provide, including any resulting losses.

Information Regarding Our Agreement With You

  • 1. Definitions

    • Access IDs: Account details, usernames, passwords, and other authentication codes.
    • Account History: Record of transactions and account activities.
    • API: Application program interface.
    • Applicable Law Relevant: laws and regulations applicable to Bitwyre Services.
    • Backed Digital Assets: Defined in clause 14.3.
    • Bitwyre Account: User accounts for recording use of services.
    • Bitwyre API: API service provided by Bitwyre Affiliates.
    • Bitwyre IP: IP owned or licensed to Bitwyre.
    • Bitwyre Services: Services offered through the Platform.
    • Bitwyre Sub-Account: Sub-accounts under a primary Bitwyre Account.
    • Claim: Any dispute or controversy related to these Terms or Product Terms.
    • Control: Power to direct the affairs of another entity.
    • Corporate Bitwyre Account: Accounts for corporate entities.
    • Created IP: Intellectual Property Rights created by users under these Terms.
    • Digital Assets: Digital representations of value or rights transferable electronically.
    • Dominant Digital Asset: Digital Asset that has dominance after a Fork.
    • Email Account: Registered email account for notices.
    • Force Majeure Events: Events beyond control preventing performance, like natural disasters or regulatory actions.
    • Fork: Changes to the operating rules of Digital Assets, resulting in new versions.
    • Forked Digital Asset: Digital Asset resulting from a Fork.
    • Improper Intent: Suspected market manipulation or abuse.
    • Instruction: Orders or requests given to Bitwyre.
    • Intellectual Property Rights (IP): Legal and exclusive rights to inventions, designs, and artistic works.
    • Manifest Error: Obvious errors or misquotes.
    • Mobile App: Bitwyre's mobile application.
    • Permitted User: Authorized person acting on behalf of a user.
    • Platform: Bitwyre's digital platform for services.
    • Privacy Statement: Privacy notice on the Bitwyre website.
    • Product Terms: Specific terms for particular services.
    • Regulatory Authority: Governmental or regulatory bodies with authority over Bitwyre.
    • Restricted Person: Individuals or entities subject to trade embargoes or sanctions.
    • Risk Warning: General risk warning on the Website.
    • Security Breach: Compromise of account security.
    • Sites: Bitwyre's websites and online content.
    • Supported Digital Assets: Digital Assets available for use with Bitwyre Services.
    • Terms: These terms and conditions of use, including referenced documents.
    • Trade Marks: Intellectual Property Rights in trade marks, service marks, and logos.
    • Transaction: Activities involving Digital Assets on the Platform.
    • User IP: IP owned or licensed to users.
    • User Materials: User-provided content and intellectual property.
    • Website: Bitwyre's official website.
  • 2. Introduction

    • 2.1. About Us

      Bitwyre operates as a centralized cryptocurrency spot and derivatives exchange platform. We offer users a platform for trading Digital Assets, an integrated custody solution for storing Digital Assets, and other related services.

    • 2.2. These Terms

      By registering to open a Bitwyre Account, you enter a legally binding agreement with us. These Terms govern your usage of Bitwyre Services, providing information on our identity, service provision, potential changes or terminations, issue resolution procedures, and other pertinent details.

      You are required to carefully review these Terms and associated documents referenced within. If there are any uncertainties, please inform us promptly.

      If there are any Local Terms applicable to your usage of Bitwyre Services, they will supersede these Terms.

    • 2.3. Additional Documents

      These Terms mention several additional documents relevant to your utilization of Bitwyre Services, including:

      1. Our Privacy Statement, outlining how we process any personal data collected from you, with your consent to such processing, ensuring accuracy and currency of provided data.
      2. Our Regulatory and Compliance Statement, emphasizing Bitwyre's commitment to risk management and compliance with global standards.
      3. Our Cookie Policy, detailing Bitwyre's practices concerning the use of cookies and similar technologies on our website and app.

      You acknowledge and agree to comply with any pertinent additional terms and conditions governing your use of Bitwyre Services.

  • 3. Eligibility

    • 3.1. Qualification Requirements

      To register for a Bitwyre Account and utilize Bitwyre Services, you must:

      1. Be an individual, corporation, legal entity, or other organization with the necessary authority to access and utilize Bitwyre Services and comply with these Terms.
      2. If an individual, be at least 18 years of age and you legally have the capacity and right to bind yourself to these Terms.
      3. If representing a legal entity, have the proper authorization to act on its behalf and bind it to these Terms.
      4. Not have been previously suspended from using Bitwyre Services.
      5. Not be classified as a Restricted Person.
      6. Not currently hold an active Bitwyre Account.
      7. Not be situated, incorporated, or established in, nor be a citizen, resident, or conducting business in a jurisdiction where accessing or using Bitwyre Services would violate Applicable Law or cause us or any third party to breach any Applicable Law.
    • 3.2. Modifying Our Eligibility Criteria

      We reserve the right to modify our eligibility criteria at our discretion. Whenever feasible, we will provide advance notice of any changes. However, here may be instances where changes are made without prior notification, such as:

      1. Legal or regulatory alterations necessitating immediate action.
      2. Changes made for your benefit.
      3. Other valid reasons that preclude giving advance notice.

      In cases where advance notice is not feasible, we will inform you of the modifications promptly after implementation.

  • 4. How Communication is Established

    • 4.1. Contacting Us

      To access additional information about Bitwyre, please refer to the details available on our website. Specific notices may contain contact information, though this address is not monitored for such notices.

    • 4.2. Contacting You

      We will utilize the contact information you provide for communication purposes, which may include email, SMS, or telephone. It's crucial to ensure the accuracy and currency of your contact details. Any changes to this information must be promptly communicated to us. Failure to update your details may result in missed communication or important notifications, for which we will not be held accountable.

  • 5. Bitwyre Services

    • 5.1. Product Terms

      Upon opening a Bitwyre Account, you gain access to Bitwyre Services governed by both these Terms and specific Product Terms tailored to each Bitwyre Service.

    • 5.2. Intra-Group Services

      You recognize and consent that certain Bitwyre Services may be delivered by Bitwyre Affiliates.

  • 6. Fees

    • 6.1. Downloading the App and registering as a User is free of charge.

      However, certain in-app purchases and additional features may require charges, as specified by us periodically.

Information About Your Bitwyre Account

  • 7. Creating a Bitwyre Account

    • 7.1. Account setup

      To access the Bitwyre Services and the Platform, you must establish and maintain a Bitwyre Account, which can be for an individual user or a Corporate Bitwyre Account for corporations, entities, or organizations.

      All Bitwyre Accounts are provided at our discretion. We reserve the right to decline any Bitwyre Account application without explanation or to limit the number of Bitwyre Accounts you may hold.

    • 7.2. Account usage

      By creating a Bitwyre Account, you agree to:

      1. If you're an individual user, solely use your Bitwyre Account for yourself unless you have our prior written consent to use it on behalf of a third party.
      2. If you're a corporate user, ensure that your Permitted Users utilize the Corporate Bitwyre Account solely for your benefit unless otherwise authorized in writing by us. Additionally, you shall not grant direct market access to to any other party, including through sub-accounts, until such parties have completed identity verification as deemed necessary by Bitwyre and have been onboarded onto the Platform separately. Any verified entity or individual using a Bitwyre Sub-Account shall be considered a “Permitted User” as defined herein. You are fully responsible for all activities conducted under your Bitwyre Account
    • 7.3. Accuracy of Information

      Before opening a Bitwyre Account and accessing the Bitwyre Services, you agree to comply with our identity verification procedures by providing accurate, current, complete and truthful information about yourself and, if applicable, all Permitted Users.

    • 7.4. Identity verification

      By using our Services, you authorize us to conduct necessary inquiries to verify your identity, those of Permitted Users, or to safeguard against fraud, money laundering, terrorist financing, or other financial crimes.

    • 7.5. Enhanced due diligence

      We may request additional information, records, documentation, or face-to-face meetings to fulfill our enhanced due diligence procedures.

    • 7.6. Update of Personal Information

      You are responsible for maintaining and promptly updating your information to keep it accurate, current, and complete. This includes, but is not limited to, personal details, contact information, and payment information.

    • 7.7. Consent Disclosure

      By using Bitwyre Services, you consent to the collection, use, and disclosure of your personal information in accordance with these Terms and the Privacy Statement.

    • 7.8. Disclosure to third parties

      We may disclose your personal information to third parties under the following circumstances:

      1. Service Providers: To trusted service providers who assist us in operating the Platform, conducting our business, or providing services to the users, as long as these parties agree to keep this information confidential. We are not responsible for the privacy practices or the content of these third-party websites or services. You are encouraged to review the privacy policies of any third-party websites or services you visit.
      2. Legal Obligations: If required by law, regulation, legal process, or governmental request, we may disclose users’ information.
      3. Protection of Rights: To enforce our Terms, protect our rights, privacy, safety, or property, and/or that of our affiliates, user, or others.
      4. Business Transfers: In connection with a merger, acquisition, bankruptcy, or sale of all or a portion of our assets.

      For more information on how we process your personal data, please refer to our Privacy Statement.

    • 7.9. Data Retention

      We retain your personal data as necessary for continued use of Bitwyre Services, as required by law for purposes like tax and accounting, anti-money laundering compliance, or as communicated to you. Please consult our Privacy Statement for details on data collection and usage related to our Sites and Services.

    • 7.10. Sub-Accounts

      At our discretion, you may create and access Bitwyre Sub-Accounts, subject to identity verification requirements outlined herein. Each Bitwyre Sub-Account is associated with one natural person or corporate entity.

  • 8. Information Requests

    • 8.1. When We May Request Information

      We may ask you for information at any time to comply with any Applicable Law, meet identity verification requirements, detect money laundering, terrorist financing, fraud, or any other financial crimes, or for any other legitimate reason. You agree to provide the requested information and allow us to keep a record of it for as long as your Bitwyre Account is active or for any period required by Applicable Law.

    • 8.2. What Happens When You Provide Information

      Providing information may affect your access to your Bitwyre Account and the transaction limits for using Bitwyre Services. If we suspect that the information you provided is incorrect, false, outdated, or incomplete, we may ask you to correct it, remove the relevant information, or take other necessary actions to ensure the information is accurate.

    • 8.3. If You Fail to Provide Requested Information

      You must respond to any information requests from us. If you refuse to provide the requested information or fail to comply in a timely manner, we reserve the right to suspend or terminate your access to your Bitwyre Account or any Bitwyre Services immediately and without notice.

  • 9. Accessing Your Bitwyre Account

    • 9.1. Access

      To access your Bitwyre Account, you or your Permitted Users must have the necessary equipment (like a computer or smartphone) and internet access. Your Bitwyre Account can be accessed directly via the Platform or through other methods (including APIs) as we may specify. You may only use the Access IDs provided to you or your Permitted Users for this purpose. We may require multi-factor authentication to ensure the security of your Bitwyre Account.

      The use of the Platform and other access methods may be subject to additional terms, which we will communicate to you.

    • 9.2. Restricting Access to Third Parties

      You must ensure that your Bitwyre Account(s) are not used by anyone other than yourself or, for Corporate Bitwyre Accounts, your Permitted Users, in accordance with these Terms.

  • 10. Account Information and Transaction Records

    • 10.1. Your Account History

      You can access your Account History on the Platform. You must review it carefully and inform us within fourteen (14) calendar days if you notice any entries or Transactions that are unrecognized or incorrect from the date the Account History is provided or made available to you.

    • 10.2. Errors

      We can correct any error in your Account History at any time and may void, cancel, or reverse any Transaction involving a Manifest Error, or adjust the Transaction details to what we reasonably consider correct or fair. If you execute a Transaction with Improper Intent or if there is a Manifest Error, Bitwyre is authorized, in compliance with Applicable Law and without penalty or liability, to:

      1. Cancel/void the Transaction as if it never happened; or
      2. Amend the Transaction price(s) to reflect the prevailing market price(s) at the relevant time, determined by Bitwyre using a fair market pricing source, with notice provided to you.

      If Bitwyre cancels a Transaction, it will reverse any transfers of Digital Assets to and/or from your Bitwyre Account as if the Transaction never occurred. If Bitwyre amends a Transaction, it will notify you of the new terms and adjust the transfers of Digital Assets to and/or from your Bitwyre Account accordingly.

      You agree that you are solely responsible for your transactions with third parties that may rely on any Transaction subject to Bitwyre’s cancellation or amendment rights.

    • 10.3. Information Sharing

      We may be required by Applicable Law to share information about your Bitwyre Account and Account History with third parties. You agree that we are entitled to disclose this information. For more details on how we process your personal data, please review our Privacy Statement.

Using Your Account

  • 11. Instructions

    • 11.1. Giving Instructions

      You must ensure any Instruction you submit is complete and accurate. We are not responsible for verifying the accuracy, authenticity, or validity of any Instruction and will not monitor or reject Instructions based on apparent duplication. However, if we have doubts about an Instruction's accuracy, authenticity, or validity, we may refuse or delay acting on it or request further information.

      Instructions are irrevocable once submitted, and you or your Permitted Users cannot rescind or withdraw them without our written consent. An Instruction is only considered received once it reaches our server. Our records of all Instructions will be conclusive and binding.

    • 11.2. Acting on Your Instructions

      By submitting an Instruction, you or your Permitted Users authorize us to initiate the Transaction on your Bitwyre Account. We are authorized to credit or debit your Digital Assets from your Bitwyre Account according to your Instruction. If your Bitwyre Account lacks sufficient Digital Assets to complete the Transaction, including all associated fees, we may refuse to process the Transaction. We may also refuse to act on instructions as permitted by these Terms. It is your responsibility to maintain sufficient Digital Assets in your Bitwyre Account.

    • 11.3. Protection of Instructions

      You understand that Instructions and information transmitted on the Platform or via email are generally sent over the internet and may pass through public, international networks that are not specifically protected. We cannot guarantee the complete protection of these Instructions and information against unauthorized access, and you accept the associated risks.

    • 11.4. Withdrawals

      Subject to these Terms and any applicable Product Terms, and provided you have sufficient balance and the relevant Digital Assets are not on hold, you can instruct Bitwyre to transfer Digital Assets to an external wallet by submitting a withdrawal request on the Platform. Upon receiving the request, Bitwyre will deduct your Bitwyre Account balance and initiate an on-chain transfer to the designated external wallet. We may not process a withdrawal request if we reasonably believe that Applicable Law prevents its execution. Bitwyre may also suspend withdrawals to resolve any incidents on the Platform and will resume them once the issues are resolved.

  • 12. Transactions

    • 12.1. Entering into Transactions

      You may enter into Transactions directly with us or with other users, facilitated by us or not. We do not guarantee the successful completion or timing of any Transaction.

    • 12.2. Unauthorized Transactions

      You are responsible for controlling and using your Bitwyre Account. We will assume any Instruction from your Bitwyre Account is authorized by you or a Permitted User unless notified otherwise. It is crucial to monitor your Account History for unauthorized or suspicious activity and inform us promptly. We are not liable for any claims or losses from a Transaction executed due to an unauthorized Instruction unless you notify us according to this clause and our internal investigation confirms that neither you nor a Permitted User authorized the Instruction in any way, and it is proven that the unauthorized Instruction resulted solely from a technical issue attributable to Bitwyre.

    • 12.3. Retention of Transaction Information

      To comply with global data retention standards, you agree to allow us to keep a record of all Transaction information for the lifetime of your Bitwyre Account, as long as necessary to fulfil their intended purposes, or as required by Applicable Law. Please review our Privacy Statement for more information on our data collection and use practices related to the Sites and Bitwyre Services.

  • 13. Material Interests and Conflicts

    • 13.1. You acknowledge that Bitwyre is a company engaged in activities related to Digital Assets

    • 13.2. Nature of Our Duties

      You understand and agree that neither your relationship with us, any Bitwyre Service we provide, nor any other matter, imposes any legal, equitable, or fiduciary duties on us or any Bitwyre Affiliate beyond those explicitly stated in these Terms. We and any Bitwyre Affiliate may act in multiple capacities and receive fees or commissions from multiple users (including you). You agree that we may operate in these capacities and provide services or conduct business with you, any Bitwyre Affiliate, or any other user.

    • 13.3. Material Interests

      You understand and agree that neither we nor any Bitwyre Affiliate are required to: (1) consider any information known to us or any Bitwyre Affiliate that constitutes a material interest; (2) disclose any such information to you; or (3) use any such information for your benefit. Additionally, we may receive general market information while providing Bitwyre Services to you, which we may use in our ordinary business operations.

    • 13.4. Conflicts of Interest

      We have effective organizational and administrative measures to identify and manage conflicts of interest between us, our users, and relevant third parties to prevent any adverse impact on your interests. If these measures are insufficient to prevent potential harm to your interests, we will inform you about the nature and sources of the conflicts and the steps taken to mitigate them, allowing you to decide whether to continue transacting with us. We reserve the right to decline to act for you if we cannot manage a conflict of interest in any other way.

  • 14. Transaction Limits

    • 14.1. Your Transaction Limits

      Your Bitwyre Account may be subject to limits on:

      1. The amount or volume of Transactions you can conduct with your Bitwyre Account; and/or
      2. The amount or value of Fiat Currency or Digital Assets you can transfer into or out of your Bitwyre Account within a specified period (e.g., daily). These limits are displayed in your Bitwyre Account.
    • 14.2. Changes to Your Transaction Limits

      We reserve the right to change any Transaction limit on your Bitwyre Account at our discretion. You may also request a change to your limits, which we may approve or deny at our discretion and subject to any conditions we consider necessary.

  • 15. Supported Digital Assets

    • 15.1. Supported Digital Assets

      Bitwyre Services are available only for Supported Digital Assets, which may change over time. A list of Supported Digital Assets is available on our Website. We may remove or suspend any Digital Asset from this list and will make reasonable efforts to notify you in advance. This means you will no longer be able to access these Digital Assets through Bitwyre Services, and you will only be able to withdraw them from your Bitwyre Account. If you do not withdraw these assets within a specified period, we may convert them into a stablecoin. You will be notified in advance of any conversion and given a reasonable period to withdraw the assets before conversion.

      We are not liable for any attempts to use unsupported Digital Assets or for conversions as described in this clause.

    • 15.2. Forks

      We may temporarily suspend Bitwyre Services for a particular Digital Asset while deciding whether to support a Fork. We are not obligated to support any Fork of a Digital Asset in your Bitwyre Account, regardless of whether the resulting version is a Dominant Digital Asset. If we choose to support a Fork, we will announce it publicly on our Website or by other appropriate means.

      You acknowledge that we have no control over the creation or implementation of a Fork and cannot guarantee the security, functionality, or supply of any Digital Asset resulting from a Fork. You may not be able to trade Forked Digital Assets on the Platform and may lose any value associated with them.

    • 15.3. Backed Digital Assets

      We may support Digital Assets that are backed by or tied in value to another asset, such as Fiat Currency or commodities like silver or gold (“Backed Digital Assets”). You agree to read, understand, and accept all terms, conditions, and risks associated with each Backed Digital Asset before engaging in any related Transactions. We have no obligation to buy, repurchase, or facilitate the redemption of your Backed Digital Assets. We reserve the right to change, suspend, or discontinue any service related to Backed Digital Assets. We make no guarantees regarding the value retention or the quality of reserves or collateral held by the issuer or any third party for any Backed Digital Asset.

  • 16. Account Security

    • 16.1. Your Responsibility

      You are responsible for protecting your hardware and data from viruses, malicious software, and inappropriate material. Except as provided by Applicable Law, you are also responsible for backing up and maintaining duplicate copies of any information stored or transferred through Bitwyre Services. We are not responsible for any claims or losses resulting from your failure to comply with this clause.

    • 16.2. Security Measures

      You and your Permitted Users must maintain adequate security and control of your Access IDs. This includes:

      1. Strictly following all our procedures;
      2. Creating a strong password and securing your Access IDs;
      3. Keeping your email and phone number updated to receive our notices and alerts;
      4. Not allowing remote access or sharing your computer screen while logged into your Bitwyre Account;
      5. Remembering that we will never ask for your passwords or two-factor authentication codes;
      6. Logging out from the Sites or Platform at the end of each visit.

      You must secure your email account and Access IDs against attacks and unauthorized access. Notify us immediately if you suspect your or any Permitted User’s email account has been compromised or used without authorization.

    • 16.3. Monitoring Your Account History

      It is crucial to monitor your Account History to detect unauthorized or suspicious activity on your Bitwyre Account and report it to us as soon as possible. A Security Breach could result in unauthorized access to your Bitwyre Account and the loss or theft of Digital Assets or funds, including those in linked bank accounts or credit cards.

    • 16.4. If You Suspect a Security Breach

      If you suspect a Security Breach, you must:

      1. Notify us immediately using the contact details provided in clause 4.1 and keep us updated throughout the breach;
      2. Lock your Bitwyre Account using the disable account function on the Platform or any other prescribed method;
      3. Take any other steps we reasonably require to mitigate or report the breach.

      We may request any information and documents we deem necessary in connection with an actual or suspected Security Breach and may share this information with third parties to resolve the breach.

Other Important Information

  • 17. Privacy

    • 17.1. The Privacy Statement

      Our handling of personal data related to these Terms, Bitwyre Services, the Platform, and any Site is outlined in our Privacy Statement, which we update periodically. You acknowledge that we may process your personal data, whether you provided it to us or we collected it from you, in accordance with these Terms and our Privacy Statement. This Privacy Statement is part of these Terms.

      You represent and warrant that:

      1. You have read and understood our Privacy Statement.
      2. You recognize that our business and Privacy Statement change regularly, and you will promptly read any replacement version we provide.
  • 18. Changes to the Terms, etc.

    • 18.1. How and when we can make changes

      We may modify these Terms and any incorporated terms (including Product Terms) at any time, and your acceptance of these Terms is your explicit consent. We will inform you of changes by email or via our Website.

      Generally, we will notify you in advance of changes and provide notice before they take effect. However, some changes may occur without prior notice, including:

      1. Changes due to legal or regulatory requirements;
      2. Changes that benefit you;
      3. Changes to clarify these Terms;
      4. Any other valid reason necessitating immediate changes.

      If we cannot give advance notice, we will inform you as soon as possible after making the change.

    • 18.2. When changes come into effect

      Unless changes are immediate, updated Terms will take effect after we notify you. If you do not wish to accept the changes, you can close your Bitwyre Account as outlined in clause 19.1. If we do not hear from you, we will assume acceptance, and your continued use of Bitwyre Services indicates agreement with the updated Terms.

    • 18.3. Changes to fees

      We may change the fees listed on our Fee Structure page, including introducing new fees. If you do not wish to accept the changes, you can close your Bitwyre Account as outlined in clause 19.1. If we do not hear from you, we will assume acceptance, and your continued use of Bitwyre Services indicates agreement with the updated Terms.

  • 19. Closing your Bitwyre Account

    • 19.1. Your right to close your Bitwyre Account

      You can terminate your Bitwyre Account at any time by following our prescribed procedures. There is no charge for closing your account, but you must settle any outstanding amounts owed to us. We are authorized to cancel or suspend any pending transactions at the time of termination and to deduct any amounts you owe from your Bitwyre Account.

      In some situations, you may not be able to close your account, such as:

      1. Evading an investigation by authorities;
      2. Having a pending transaction or open claim;
      3. Owing us outstanding amounts;
      4. Having your account subject to a freeze, hold, limitation, or reserve.
    • 19.2. What happens when your Bitwyre Account is closed

      Upon closure, you must withdraw all Digital Assets from your account. If you fail to do so, or if you have not accessed your account for 90 days, we will notify you of our intention to treat your account as dormant.

    • 19.3. What happens when your account becomes dormant

      If you do not respond to our notice within 30 days, we may:

      1. Mark your account as dormant;
      2. Convert your Digital Assets to a different type of asset without liability for any loss incurred;
      3. Transfer your dormant account and assets to a third party if deemed necessary, with retrieval subject to verification;
      4. Adjust your account to provide a claim on the original asset quantity and type;
      5. Close the dormant account at any time.

      We are not obligated to pay any reward, incentive, or interest that might have been otherwise agreed upon for your dormant account's Digital Assets.

  • 20. Termination, suspension, holds, and restrictions

    • 20.1. Our right

      We may modify or discontinue any portion or feature of Bitwyre Services at any time. We can:

      1. Refuse to complete or reverse any transaction;
      2. Terminate, suspend, or restrict your access to Bitwyre Services or your account;
      3. Refuse to transmit information or instructions to third parties;
      4. Take other necessary actions, with immediate effect, for various reasons, including:
        1. You are no longer eligible for Bitwyre Services;
        2. Suspicion of fraudulent or unauthorized use of your account;
        3. Concerns about your creditworthiness or financial status;
        4. Submission of required information and documents;
        5. Compliance with legal requirements;
        6. Suspected breach of Terms or unlawful activity;
        7. Pending litigation or investigation;
        8. Unpaid amounts owed to Bitwyre;
        9. Issues with identity verification;
        10. Circumventing controls or abusing promotions;
        11. Any other valid reason necessitating action.

      We will notify you when possible, except when restricted by law.

    • 20.2. Your acknowledgement

      You agree that:

      1. The reasons listed above for taking action are not exhaustive;
      2. Our decisions may be based on confidential criteria essential to our risk management and security, which we are not obligated to disclose.
    • 20.3. What happens when we exercise our right

      When we take action:

      1. Open transactions may be closed by you or us;
      2. Chargebacks may result in immediate suspension or restriction;
      3. Reactivation may require reimbursement of chargeback values;
      4. You are liable for chargebacks, and we can deduct costs from your account assets without notice.
    • 20.4. Unlawful possession

      If we believe your account contains stolen or unlawfully possessed assets, we may place a hold on the affected funds and your account until you provide acceptable proof of lawful possession. We will not mediate disputes over account assets.

Intellectual Property Rights (IP)

  • 21. Background IP

    All IP owned by Bitwyre will remain its property.

    • 21.1. All IP owned by Bitwyre will remain its property.

      We provide you with a non-exclusive license to use Bitwyre's intellectual property (excluding Trade Marks) for personal or internal business use as long as these Terms are in effect or until your access to Bitwyre Services is suspended or terminated, whichever comes first.

  • 22. Licence of User IP

    • 22.1. Your Grant of Licence

      You grant us a perpetual, irrevocable, royalty-free, worldwide, and non-exclusive license to use your intellectual property (User IP) as necessary to:

      1. Be part of or necessary for the use of any Created IP.
      2. Allow us to provide you with Bitwyre Services.
    • 22.2. Our Right to Sub-Licence

      This license includes our right to sublicense your User IP to third parties to enable us and any Bitwyre affiliates to provide you with Bitwyre Services.

  • 23. Created IP

    • 23.1. Created IP

      Any Created IP will automatically become our property upon creation.

    • 23.2. Assignment

      You assign to us all present and future rights and interests in the Created IP, ensuring any agents, representatives, or contractors do the same. You agree to sign any documents and perform any actions needed to finalize this assignment at no cost to us.

  • 24. General

    • 24.1. We Are Not Responsible

      You acknowledge that:

      1. We are not responsible for any User Material on the Platform or Sites, whether provided by you or third parties.
      2. Use of such User Material is at your own risk, and we do not provide any warranties regarding it.
    • 24.2. Our Rights

      We reserve the right to remove, modify, or reject any content you submit, post, or display on the Platform or Sites at our discretion. This includes actions such as issuing warnings, removing User Material, seeking damages, suspending or terminating your Bitwyre Account, or restricting future use of Bitwyre Services.

    • 24.3. Recording

      We may record any communications with you related to these Terms. These recordings serve as evidence of our communications and may be used to respond to inquiries, ensure compliance with laws, improve services, and provide customer support.

Your Obligations and Liability

  • 25. Prohibited Use

    By using Bitwyre Services, you agree not to:

    • Violate these Terms or related agreements.
    • Use Bitwyre Services in a way that violates public interests or morals or disrupts others' use of the services.
    • Use Bitwyre Services for resale or commercial purposes without our written consent.
    • Engage in market manipulation or activities designed to control or affect the price of Digital Assets.
    • Engage in fraudulent activities or cause suspicion of fraud.
    • Use Bitwyre Services for lotteries, auctions, sports forecasting, internet gaming, contests, sweepstakes, or games of chance.
    • Receive funds from both us and another user for the same transaction during a claim, or conduct business in a manner causing complaints, disputes, or liabilities.
    • Provide false or misleading information in connection with Bitwyre Services.
    • Modify or incorporate the Platform into another program or application.
    • Disassemble, decompile, reverse-engineer, or attempt to derive the source code of the Platform.
    • Replicate, duplicate, copy, transmit, disseminate, transfer, disassemble, broadcast, publish, or alter any part of Bitwyre IP without permission.
    • Facilitate viruses or other harmful programming routines.
    • Use an anonymizing proxy or temporary email address, bypass robot exclusion headers, or interfere with our services or suppliers.
    • Create security over your Fiat Currency or Digital Assets without our written consent.
    • Violate any applicable law or third-party intellectual property rights.
    • Access Bitwyre Services from high-risk jurisdictions or by high-risk individuals/entities.
  • 26. Representations and Warranties

    You represent and warrant that:

    • All documents and information provided to us are true, accurate, complete, and current.
    • All decisions made under these Terms were based on your own judgement and assessment of your financial resources and objectives.
    • You have the authority to access and use the Platform and Bitwyre Services and to fulfil your obligations under these Terms and related agreements.
    • If you are a corporation, partnership, or trust:
      1. You comply with applicable laws and organizational documents.
      2. You will inform us of any changes to directors, partners, trustees, or authorized persons.
      3. You will notify us if the organization is dissolved.
    • All necessary third-party consents and regulatory approvals have been obtained and remain valid.
    • These Terms and related agreements are binding and enforceable against you.
    • You are not a Restricted Person.
    • If you are a legal entity, you are duly incorporated and existing under applicable laws, or if an individual, you are at least 18 years old you legally have the capacity and right to bind yourself to these Terms.
    • Your use of the Platform and Bitwyre Services and compliance with these Terms will not breach any organizational documents, agreements, or laws.
  • 27. Technology Disclaimers

    • 27.1. No Representation or Warranty

      Bitwyre Services and related information are provided "as is" without any express or implied warranties, including title, merchantability, fitness for a particular purpose, or non-infringement. We do not guarantee continuous, uninterrupted, timely, or error-free access to the Sites, Platform, Bitwyre Accounts, or services.

    • 27.2. Suspension of Access

      We may suspend access to your Bitwyre Account or services for maintenance. We strive to process transactions timely but do not guarantee processing time, as it depends on factors beyond our control.

    • 27.3. Content

      We update the Sites and Platform information but do not guarantee accuracy, completeness, or timeliness.

    • 27.4. Third-Party Websites

      We are not responsible for third-party website content, materials, information, or services accessible through our Platform or Sites.

    • 27.5. Network Access and Compatibility

      You are responsible for obtaining network access and compatible hardware or devices to use Bitwyre Services. We do not guarantee compatibility with specific hardware or devices and acknowledge potential malfunctions and delays in internet and electronic communications.

  • 28. Indemnity

    • 28.1. Third-Party Claims

      You will indemnify us against any third-party claims, suits, actions, demands, disputes, allegations, or investigations, and all related liabilities, damages, losses, costs, and expenses arising from:

      1. Your use of Bitwyre Services.
      2. Your breach of these Terms or related agreements.
      3. Your violation of applicable laws.
      4. Your violation of third-party rights.
    • 28.2. Control

      We may assume control of the defense in third-party claims subject to your indemnification, requiring your cooperation. You will not settle claims or losses without our consent.

    • 28.3. Release

      You release us from all claims and demands arising from disputes with other users or third parties related to Bitwyre Services or these Terms.

  • 29. Liability

    • 29.1. Our Liability

      Our liability, and the liability of the Bitwyre Affiliates, to you or any third parties in any circumstance is limited to the actual amount of loss or damage which is caused directly and is reasonably foreseeable by our breach of these terms, and shall in no event exceed the amount of fees paid by you to Bitwyre in the 12 months preceding the event giving rise to the Loss. Such sum shall be paid by us to you in full and final settlement and satisfaction of ours and any Bitwyre Affiliate’s entire liability for any and all losses and claims, howsoever arising, from the relevant breach. You acknowledge and agree that neither Bitwyre or any Bitwyre Affiliate is aware of any special circumstances pertaining to you, and that damages are an adequate remedy and that you shall not be entitled to any other claims or remedies at law or in equity, including but not limited to, any claim in rem, injunction, and/or specific performance.

    • 29.2. Limitations on liability.

      Notwithstanding any other clause in these Terms, in no event will we or any Bitwyre Affiliate be responsible or liable to you or any other person or entity for:

      1. any direct or indirect losses (including loss of profits, business or opportunities), damages, or costs arising out of or in connection with these Terms, including but not limited to:
        1. any risk identified in the Risk Warning, as updated from time to time;
        2. the operation of the protocols underlying any Digital Asset, their functionality, security, or availability;
        3. whether Backed Digital Assets hold their value as against any asset, or if the issuer of the Backed Digital Asset holds sufficient reserves in relation to any Backed Digital Asset;
        4. any action or inaction in accordance with these Terms;
        5. any inaccuracy, defect or omission of Digital Assets price data, any error or delay in the transmission of such data, and interruption in any such data;
        6. regular or unscheduled maintenance we carry out including any service interruption and change resulting from such maintenance;
        7. the theft of a device enabled to access and use Bitwyre Services;
        8. other users’ actions, omissions or breaches of these Terms, and any damage caused by actions of any other third parties;
        9. (1) for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack; (2) in the event that your hardware fails, is damaged or destroyed or any records or data stored on your hardware are corrupted or lost for any reason; or (3) for your use of the internet to connect to the Bitwyre Services or any technical problems, system failures, malfunctions, communication line failures, high internet traffic or demand, related issues, security breaches or any similar technical problems or defects experienced;
        10. our decision to reject your application to open a Bitwyre Account(s), in accordance with clause 7.1;
        11. any termination, suspension, hold or restriction of access to any Bitwyre Account or Bitwyre Services, including your inability to withdraw Digital Assets, issue Instructions or enter into Transactions during the period of any suspension, hold or restriction, in accordance with these Terms or any Product Terms;
        12. any Transaction limits applied to your Bitwyre Account, in accordance with clause 14;
        13. any election by us to support or not support Digital Assets, in accordance with clause 15.1;
        14. us being unable to contact you using the contact information you provided, in accordance with clause 4.2;
        15. us closing a dormant account, in accordance with clause 19.3;
        16. the failure of a Transaction or the length of time needed to complete any Transaction, in accordance with clause 12.1;
        17. the market making activities of the market makers, in accordance with clause 13.2;
        18. our reliance on any Instruction sent from your Bitwyre Account, or the Email Accounts;
        19. our refusal or delay in acting upon any Instruction, in accordance with clause 11.1;
        20. any breach of security of your Email Account or a Security Breach;
        21. losses caused to you by third party fraud or scams that involve Bitwyre only as the recipient of your Fiat Currency or Digital Assets, and/or the conversion of Fiat Currency to Digital Assets, and/or the transfer of Digital Assets away from our platform at your request;
        22. any losses arising or in connection with new offerings of Digital Assets, initial coin offerings (ICOs), or the decision to list or not list Digital Assets on the Platform;
        23. the correctness, quality, accuracy, security, completeness, reliability, performance, timeliness, pricing or continued availability of the Bitwyre Services or for delays or omissions of the Bitwyre Services, or for the failure of any connection or communication service to provide or maintain your access to the Bitwyre Services, or for any interruption in or disruption of your access or any erroneous communications between us, regardless of cause; and
        24. any Transactions, Instructions, or operations effected by you or purported to be effected by you through your Email Account or Bitwyre Account;
      2. any loss of business, profits, anticipated savings or opportunities, or any special, punitive, aggravated, incidental, indirect or consequential losses or damages, whether arising out of or in connection with our Sites, the Platform, your Bitwyre Account, the Bitwyre Services, these Terms, the Product Terms, the Privacy Statement and/or any agreement entered into pursuant to, or in connection with, these Terms or otherwise;
      3. any losses or damages you may incur due to Manifest Error and/or in the event of extreme market volatility and/or as a result of any cancellation/amendment of any Transactions, howsoever arising, whether direct or indirect, special or consequential, including, but not limited to, loss of profit, loss of opportunity even if Bitwyre had been advised of the possibility of the same arising or that the same were reasonably foreseeable, save for any losses or damages caused by Bitwyre’s fraud or bad faith; and/or
    • 29.3. Damage or interruption

      We are not liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. You should also be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us. You and, where relevant, your Permitted Users are responsible for all login credentials, including usernames and passwords and must keep security details safe at all times.

Resolving Disputes

For clarity, nothing in this section shall deprive you of any mandatory legal rights under Applicable Law.

  • 30. Notice of Claim and Dispute Resolution Period

    • 30.1. If you have any concerns with the Services, please contact Bitwyre first. Bitwyre aims to address your concerns without formal legal proceedings, if possible. If your concerns cannot be resolved immediately, a ticket number will be assigned, initiating the internal dispute resolution process. Bitwyre will try to resolve the dispute internally as soon as possible. Both parties agree to negotiate in good faith to resolve the dispute, with discussions remaining confidential and protected under applicable rules.

    • 30.2. If the dispute cannot be resolved satisfactorily and you wish to make a claim against Bitwyre, you must submit a "Notice of Claim" in writing to Bitwyre. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) specify the relief sought, (3) include the original ticket number, and (4) provide your custody account email.

    • 30.3. Submitting a dispute to Bitwyre for internal resolution and delivering a Notice of Claim to Bitwyre are prerequisites to starting arbitration or any other legal proceedings.

    • 30.4. During arbitration, the amount of any settlement offer made by either you or Bitwyre shall not be disclosed to the arbitrator.

  • 31. Confidentiality

    • 31.1. Both parties agree to keep the arbitration confidential.

      This includes the existence of the arbitration, the content of the Claim, all related documents and information, and any submissions, orders, or awards made in the arbitration. Disclosure is permitted only to the tribunal, parties involved, their counsels, experts, witnesses, accountants, auditors, insurers, and reinsurers, or other necessary persons for conducting the arbitration. However, a party may disclose such information:

      1. With the written consent of the other party;
      2. As required by applicable law or regulations of any regulatory or supervisory authority to which the party is or may become subject, or pursuant to any court order or competent authority;
      3. In connection with the commencement, pursuit, or defense of bona fide legal proceedings to enforce or challenge any arbitration award;
      4. If the confidential information is already in the public domain, not through a breach of this agreement.

      This confidentiality clause survives the termination of these Terms and the conclusion or stay of any arbitration brought under these Terms.

  • 32. Governing Law

    Except where Applicable Law provides otherwise, these Terms (including the arbitration agreement) shall be governed by, and construed in accordance with, the laws of Indonesia.

  • 33. Class Action Waiver

    You and Bitwyre agree that any claims shall be brought individually in arbitration, not as part of a class or representative action. You waive any right to bring or participate in a class, collective, representative, or private attorney general action, as permitted by applicable law. Combining or consolidating individual arbitrations into a single arbitration is not allowed without Bitwyre's consent.


  • 34. General Terms

    • 34.1. Compliance with Laws

      You and any authorized users must adhere to all applicable laws, licensing requirements, and third-party rights (including privacy, data protection and anti-money laundering laws) when using Bitwyre Services, your Bitwyre Account, and the Platform.

    • 34.2. Notices

      We may send notices to your registered email address. It is your responsibility to keep this email address current and accurate. Notices are considered received if sent to your email address, even if delivery fails. You may only send us notices as directed, which may change from time to time. All notices, consents, or other communications under these Terms must be in writing, in English, and signed or authorized by the sender.

    • 34.3. Announcements

      Official announcements, news, promotions, competitions, and airdrops will be posted on the Website. These announcements may affect the value or security of your Digital Assets. You are responsible for monitoring and considering these announcements.

    • 34.4. Entire Agreement

      These Terms, along with any applicable Product Terms, constitute the entire agreement between you and us regarding Bitwyre Services. Each party acknowledges not relying on any statement, representation, assurance, or warranty not expressly included in these Terms or Product Terms.

    • 34.5. Assignment

      You cannot assign or transfer your rights or obligations under these Terms without our prior written consent. We may assign or transfer our rights or obligations at any time, including in connection with mergers, acquisitions, or other corporate reorganizations.

    • 34.6. Invalidity

      If any clause or sub-clause of these Terms becomes illegal, invalid, or unenforceable, the remaining clauses or sub-clauses remain unaffected.

    • 34.7. Records

      We may record any communications with you, including telephone, email, and chat conversations, and use these recordings as evidence in any proceedings related to our agreements.

    • 34.8. Language

      These Terms are available both in English and Indonesian languages, but the Indonesian language version will prevail in case of inconsistency or ambiguity.

    • 34.9. Third-Party Rights

      Except for Bitwyre Affiliates, these Terms do not grant any rights to third parties. The Terms are for the sole benefit of the parties involved and their successors and permitted assigns.

    • 34.10. Survival

      Clauses and sub-clauses that naturally extend beyond the expiration or termination of these Terms will continue to be binding.

    • 34.11. Relationship of the Parties

      Bitwyre is not your agent under these Terms, and the Terms do not establish an association, joint venture, partnership, or franchise between the parties.

    • 34.12. Digital Assets

      We record the quantity and type of Digital Assets held in your Bitwyre Account. Bitwyre is not a trustee and does not owe trustee duties for any Digital Assets held. Bitwyre will use Digital Assets of the same quantity and type as those credited to your account when acting on your instructions.

    • 34.13. Force Majeure

      We are not liable for delays or failures to perform due to Force Majeure Events.

    • 34.14. No Waiver

      Any delay or omission by us in exercising rights or remedies under these Terms does not constitute a waiver of those rights or remedies. Rights and remedies under these Terms are cumulative and not exclusive of those provided by law.

    • 34.15. Set-Off

      We may set off any amounts you owe us under these Terms. You must pay all amounts you owe without set-off, counterclaim, deduction, or withholding, unless required by law.

    • 34.16. Privacy of Others

      If you receive information about another user, you must keep it confidential and use it only in connection with Bitwyre Services, in accordance with applicable law. Do not disclose or distribute this information to third parties or use it in any other manner.

    • 34.17. Publication of Breaches

      If you breach these Terms, Bitwyre may publish details of the breach and any information you provided, if necessary for the protection of other users and in compliance with applicable law.

    • 34.18. Death of Account Holder

      In the event of your death or incapacity, your estate's representative(s) or legal beneficiaries must notify us in writing. We may suspend your account upon belief of your death until satisfactory proof of your status or completion of an inheritance application. Asset transfer is subject to legal restrictions and our requirements.

    • 34.19. Tax

      You are responsible for determining and fulfilling your tax obligations related to payments made or received, including reporting and remitting the correct taxes. We are not responsible for determining, collecting, reporting, or remitting any taxes related to your use of Bitwyre Services. We may report transactions to tax authorities and provide you with necessary documentation, and we may withhold taxes as required by law.

  • 35. Interpretation

    • Clause headings and numbering are for convenience only and do not affect the meaning or interpretation of any clause.
    • "Include" or "including" means including without limitation.
    • Undertakings to do or not do something include not allowing it to happen.
    • Singular terms include plural and vice versa; gender terms include all genders.
    • Document references include amendments not in breach of these Terms.
    • Inconsistencies between these Terms and referenced documents are resolved with the following order of precedence: (i) Product Terms, (ii) Privacy Statement, (iii) these Terms.
v1.3.75 - f3208cc