Terms and conditions | LiteBit
These are our terms and conditions. These always apply when you use our Website
or place an order through our Website, and they contain important information for
you as a customer.
Article 1. Definitions
- any arrangement or agreement between LiteBit and the Customer of which the General Terms and Conditions are an integral part.
- the natural person or corporation who enters into an Agreement with LiteBit and/or is registered on the Website.
Terms and Conditions
- these terms and conditions.
- 2525 Ventures B.V., based in Rotterdam and registered with the Chamber of Commerce under file number 63661438, trading as LiteBit.
- the website of LiteBit, to be found at www.litebit.eu and all of its subdomains.
Article 2. Prices and information
All prices posted on the Website and in other materials originating from LiteBit include applicable taxes and other levies imposed by the government, unless stated otherwise on the Website.
The content of the Website is composed with the greatest care. LiteBit cannot, however, guarantee that all information on the Website is correct and complete at all times. All prices and other information posted on the Website and in other materials originating from LiteBit are subject to obvious programming and typing errors.
Article 3. Registration
To make optimum use of the Website, the Customer can, and in certain cases must, register using the registration form/the account sign-in option on the Website.
The Customer must be at least eighteen (18) years of age in order to use the Website and the services it provides. Should LiteBit discover that the Customer was not at least eighteen years of age at the moment of registering, LiteBit is allowed to immediately disable the login credentials and cancel any open buy or sell orders. If applicable, LiteBit and Customer together will determine a way to return the cryptocurrency to the Customer.
During the registration process, the Customer will be asked to choose a user name and password with which he can log on to the Website. The Customer alone is responsible for choosing a sufficiently reliable password.
The Customer must keep its login credentials, user name and password strictly confidential. LiteBit cannot be held liable for any misuse of the login credentials and is always entitled to assume that the Customer who logs on to the Website is the party that it professes to be. The Customer is responsible for and bears the full risk of any and all actions and transactions performed via the Customer’s account.
If the Customer knows or has reason to suspect that its login details have become available to unauthorised parties, it will be required to change its password as soon as possible and/or to notify LiteBit accordingly so as to allow LiteBit to take appropriate measures.
Article 4. Right of withdrawal/return
The digital goods that can be purchased using the Website constitute the supply of goods or services for which the price is dependent on fluctuations in the financial market which cannot be controlled by LiteBit and which may occur within the withdrawal period. As such, the right of withdrawal does not apply to the services provided by LiteBit.
Article 5. General information regarding cryptocurrency
All purchases involve digital goods without a fixed value. With every payment for crypto currencies, Customer agrees with the price that LiteBit has determined at that time.
Customer understands that all rates are variable and can change anytime.
Article 6. Buying cryptocurrency from LiteBit
Customer is responsible for entering the correct recipient wallet address.
If Customer entered a wrong recipient wallet address, LiteBit will send Customer an e-mail describing the error that has occurred. After 30 days, the purchased cryptocurrency will be sold and LiteBit will refund the amount payed minus the loss of value that LiteBit may have incurred because of price fluctuation. Customer will not receive the cryptocurrency.
After Customer places his buy order, Customer needs to perform a one-time verification of Customer’s bank account (IBAN). If this verification is not completed within 30 days, LiteBit will sell the purchased cryptocurrency and issue a refund for this amount payed to the used bank account (IBAN) minus the loss of value that LiteBit may have incurred because of price fluctuation. Customer will not receive the cryptocurrency.
With every buy order, Customer is required to fulfil the invoice amount. This amount can be fulfilled with one of our offered payment methods.
In case of SOFORT Überweisung Customer agrees that he will full fill the payment through the system of SOFORT Überweisung. The clearing of the payment is the responsibility of Customer.
The delivery of Customer’s crypto currencies takes place by the provision of a coin transaction to the specified coin-address. LiteBit ensures to send a successful transaction that immediately sends the cryptocurrency through the corresponding crypto currency-network. LiteBit has no influence on the speed of the transaction. Depending on the type of cryptocurrency, it may take up to 24 hours. If a problem does arise, Customer has the right to contact the support department of LiteBit.
The risks associated with the cryptocurrency will transfer to the Customer as soon as the products are delivered at the agreed recipient wallet address. If applicable, this is deemed to have taken place after 1 confirmation.
If Customer fills in the wallet address of someone else then this is at Customer’s own risk and LiteBit cannot undo the transaction.
A completed transaction (delivery of the products) cannot be undone.
When an unusual situation takes place, either technical, legal or otherwise, LiteBit may hold Customer’s orders till further verification.
If Customer fills in an invalid delivery address, LiteBit’s system will notice and show Customer a message on the order page. It is Customer’s responsibility to contact LiteBit.
On suspicion of criminal activities, LiteBit reserves the right to suspend transaction(s) until the buyer is verified. LiteBit may do this by telephone or e-mail if possible.
Because of the technical nature of cryptocurrency, orders from the Website cannot be refunded. Customer can sell these back to LiteBit at the price offered by LiteBit.
LiteBit is allowed to cancel Customer’s order if the price or buyer is not trustworthy. LiteBit will return Customer’s money as soon as possible if this occurs.
Customer is responsible for saving, maintaining and controlling his crypto currencies. LiteBit offers many tips on the Website.
LiteBit stocks can be empty sometimes due to the big variety of cryptocurrencies. LiteBit may refuse orders should this situation occur.
LiteBit is authorised to engage third parties in the fulfilment of its obligations under the Agreement.
Article 7. Selling cryptocurrency to LiteBit
For every sell order, LiteBit will generate a unique wallet-address. After LiteBit receives the agreed upon amount of cryptocurrency on the provided wallet-address with at least 1 confirmation, LiteBit will carry out the transaction on the next business day (weekends/holidays excluded).
Customer must deposit the correct amount (Customer is responsible for any applicable transaction fees) of cryptocurrency to the wallet-address provided by LiteBit. Customer must deposit the cryptocurrency within 15 minutes and the transaction must have at least 1 confirmation on the respective blockchain within 15 minutes. If LiteBit does not receive the correct amount within 15 minutes or within the confirmation time limit, LiteBit will consider the transaction invalid and LiteBit will manually recalculate Customer’s sell order. This may result in either a lower or a higher price.
Customer agrees that no value added tax is deducted from the sold cryptocurrency.
Customer agrees that the cryptocurrency offered for selling is legitimately acquired and Customer does not know of any possible illegal activities.
Customer confirms to be the owner of the bank account number and any other information Customer has given to be truthful.
LiteBit is allowed to cancel Customer’s sell orders. The crypto currencies will be paid back to the given return address.
It is always the responsibility of the Customer to provide the correct information. LiteBit carries trades almost immediately after the crypto currencies have been received at the address given by LiteBit.
Bank transactions are made every business day (holidays excluded), after LiteBit receives the payment. Depending on the bank, these transactions may take one or more business days. The actual time it takes to for the transactions to complete, is outside the control of LiteBit.
Article 8. Payment
LiteBit is free to offer any payment method of its choice and may change these methods at any time.
Article 9. Anti-Money Laundering Program (AML)
Anti-Money Laundering is at the core of LiteBit. LiteBit follows the guidelines to provide Anti-Money Laundering measures.
LiteBit needs to know who their Customers are in accordance with possible Know Your Customer (KYC) regulations. Customers that LiteBit does not 'know', are only allowed to buy small amounts of cryptocurrency. These are such small amounts that money launderers will not bother with.
In order to buy even a small amount of cryptocurrency, Customers are required to register and also provide small transaction to one of LiteBit’s bank accounts.
In order to buy a high quantity of cryptocurrency, Customers are required to fully identify themselves, this can be done with proof-of-identity and proof-of-address.
LiteBit will report suspicious transactions to relevant authorities.
LiteBit employs active monitoring of transactions for fraud detection.
LiteBit will cooperate with police and other government agencies (for instance: Team High Tech Crime - The Netherlands).
Article 10. Limitation of liability
Within the limits of the law, LiteBit will only be liable to Customer for direct damage resulting from attributable failure to comply with the Agreement.
No liability shall exist in any manner whatsoever for:
differences in prices resulting from delayed processing of buy- or sell orders;
cancelling of orders because of obviously wrong price indications;
any damage incurred in relation to the Wallet feature;
any indirect loss (including consequential loss, loss of income and profit, loss of data and non-material loss).
Article 11. Personal details
LiteBit will process the Customer’s personal details in accordance with the privacy statement published on the Website.
Article 12. Partner program
LiteBit has the right to change referral payments.
LiteBit has the right to remove referred users from Customer’s account.
Article 13. Final Provisions
Any Agreement is governed by Dutch law and, insofar as not dictated otherwise by mandatory law, any disputes ensuing from the Agreement will be submitted to the competent Dutch court in the district where LiteBit has its registered office.
If any provision set out in these Terms and Conditions should prove to be void, this will not affect the validity of the Terms and Conditions as a whole. In that case, the parties will lay down one or more new provisions in replacement which will reflect the original provision as much as is possible under the law.
The term ‘written’ in these Terms and Conditions also refers to communication by email and fax, provided that the sender’s identity and the integrity of the email message have been sufficiently established.
LiteBit has the right to change these terms and conditions at any time. LiteBit will announce changes and additions at least thirty days before they enter into effect via the service so that the Customer can take note thereof. If the Customer does not wish to accept a change or addition, Customer will have the right to terminate the Agreement until the date such a change or addition enters into effect. Continued use after the effective date applies as acceptance of the changed or supplemented terms and conditions.
Should you have any questions, complaints or comments after reading these terms and conditions, please contact us by email or letter.
LiteBit.eu - 2525 Ventures B.V.
3014 DA, Rotterdam
tel: +31 (0) 10 307 48 20