This User Agreement ("Agreement") is a contract between you and w3coins and applies to your use of w3coins services. You must read, agree with and accept all of the terms and conditions contained in this Agreement. This is an important document which you must consider carefully when choosing whether to use w3coins services.
By signing up to use the w3coins account through the w3coins website, the w3coins API, and/or any associated websites or mobile applications (collectively the "w3coins site"), you agree to comply with and be legally bound by this Agreement, as revised from time to time. If you do not agree to any of the terms set forth in this Agreement, or any subsequent modification to the Agreement, you may not access or use any of the w3coins Services.
We may amend or modify this Agreement by posting on the w3coins site or emailing to you the revised Agreement, and the revised Agreement shall be effective at such time. We may (a) modify or discontinue any portion of the w3coins services, and (b) suspend or terminate your access to the w3coins Services, at any time, and from time to time, without notice to you in certain, limited circumstances described herein. You agree that we shall not be liable to you or any third party for any modification or termination of the w3coins services, or suspension or termination of your access to the w3coins Services, except to the extent otherwise expressly set forth herein.
Please note the following risks of using w3coins services:
- Bitcoin purchased using a bank account or credit card may be reversed at a later time, for example, if such a payment is subject to a chargeback, reversal, claim or is otherwise invalidated.
- A bitcoin transaction may be unconfirmed for a period of time (usually less than one hour, but up to one day) and never complete if it is in a pending state.
- Holding bitcoin is high risk. The price or value of bitcoin can change rapidly, decrease, and potentially even fall to zero.
- You agree that disputes between you and w3coins will be resolved by binding, individual arbitration and you waive your right to participate in a class action lawsuit or class-wide arbitration.
1.1 w3coins helps you make payments to and accept payments from third parties. w3coins allows users to integrate your bitcoin wallet where you can store your bitcoin. w3coins also allows users to buy and sell bitcoin through 3rd party companies. w3coins is an independent contractor for all purposes. w3coins does not have control of, or liability for, the products or services that are paid for with w3coins services. We do not guarantee the identity of any user or other party or ensure that a buyer will complete a transaction. w3coins is not a money transmitter. w3coins assists its users in Bitcoin transactions.
1.3 Privacy of Others; Marketing. If you receive information about another user through w3coins services, you must keep the information confidential and only use it in connection with w3coins services. You may not disclose or distribute a user's information to a third party or use the information for marketing purposes unless you receive the user's express consent to do so. You may not send unsolicited email to a user through w3coins.
1.4 Intellectual Property. "w3coins" and all logos related to w3coins services are either trademarks, or registered marks of w3coins or its licensors.
1.5 Password Security and Keeping Your Email and Address Current. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access w3coins services. You are responsible for keeping your email address up to date in your Account Profile.
1.6 Notices to You. You agree that w3coins may provide you communications about your Account and w3coins services electronically.
1.7 Notices to w3coins. We prefer receiving notices to w3coins electronically through our support system at https://support.w3coins.com. Paper notifications can also be sent to w3coins - See our contact page for our mailing address.
2.1 Eligibility. To be eligible to use w3coins services, you must be at least 18 years old.
2.2 Identity Authentication. If you wish to buy or sell bitcoin through w3coins, you authorize w3coins, directly or through third parties, to make any inquiries we consider necessary to validate your identity.
2.3 Third Party Applications. If you grant express permission to a third party to connect to your w3coins account, either through the third party's product or through w3coins, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under this Agreement. Further, you acknowledge and agree that you will not hold w3coins responsible for, and will indemnify w3coins from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant. You may change or remove these permissions at any time from the Account Settings (API) page.
2.4 Taxes. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. w3coins is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
2.5 Your account with us is not a bank account. Our services are not financial instruments, and we are not a regulated financial institution. No interest will be paid on any funds or currency you use to purchase or trade for any other currency, and such currency is not insured by the company or any government agency.
2.6 Limitations. w3coins may delay an order if customer has not provided personal identifying information, if it reasonably suspects that customer is in violation of the User Agreement, or if further personal identifying information is necessary to establish the identity of the customer ("KYC"). Until completion of such verification procedures, customers may experience delayed processing of Bitcoin Transactions or Conversion Service transactions. w3coins will designate any such delayed transaction as "pending," and funds will not be available until the pending transaction is completed. w3coins reserves the right to refuse to process, cancel, or to reverse any customer transaction (i) as required by law, (ii) in response to a facially valid subpoena, court order, or other government order, or (iii) if w3coins reasonably suspects that the transaction is erroneous, or is in violation of the w3coins User Agreement.
2.7 Unsolicited Deposits. Unsolicited deposits into our bank account are subject to a processing fee of up to US $85.95.00 per incidence. w3coins reserves the right at its own discretion to either process or reject such deposits and associated orders. Any reversal of funds will require adequate (as determined by w3coins) proof of payment, identification of payer, and proof of ownership of the originating account (where applicable). Examples of unsolicited deposits include but are not limited to: making a deposit without a corresponding order; check, wire, or other non-cash deposits; depositing an amount that substantially exceeds the order amount; placing an order after a deposit has been made; any type of deposit resulting in circumvention of account limits.
2.8 Wrong or Partial Beneficiary Details. A processing fee of up to US $4.30 per failed attempt may be assessed at w3coins's discretion for orders which we are unable to complete due to wrong or partial beneficiary information.
3.1 w3coins may cancel or reverse potentially high-risk buys or sells of bitcoin, including those made using reversible payment methods.
3.2 w3coins does not cancel or reverse bitcoin-to-bitcoin transactions, as long as they are accepted and confirmed on the bitcoin network.
3.3 w3coins keeps 100% of customer funds in storage. w3coins does not engage in fractional reserve lending.
3.4 In the event w3coins needs to retrieve funds from offline storage, there can be a delay in sending coins of up to 48 hours.
3.5 w3coins does not guarantee the value of bitcoin. You acknowledge that the price or value of bitcoin can change rapidly, decrease, and potentially even fall to zero. You acknowledge that holding bitcoin is high risk. You agree to deliver the agreed upon payment for bitcoin upon confirmation of an order, regardless of changes in bitcoin value.
3.6 w3coins reserves the right to change the buy/sell limits and/or suspend trading activity on your account as we deem necessary.
4. RESTRICTED ACTIVITIES.
4.1 Restricted Activities. In connection with your use of w3coins services, other users, and third parties you will not:
Violate any law, statute, ordinance, or regulation (for example, those governing financial services, controlled substances, or consumer protections);
- Intentionally try to defraud w3coins or other w3coins users.
- Infringe w3coins's or any third party's copyright, patent, trademark, or intellectual property rights.
- Provide false, inaccurate or misleading information.
- Take any action that imposes an unreasonable or disproportionately large load on our infrastructure; or detrimentally interfere with, intercept, or expropriate any system, data, or information.
- 5.1 Indemnification. You agree to indemnify and hold w3coins, its parent, the officers, directors, agents, joint ventures, and employees harmless from any claim or demand (including attorneys' fees) arising out of your breach of this Agreement or your use of w3coins services.
- 5.2 Release of w3coins. If you have a dispute with one or more users, you release w3coins (and our officers, directors, agents, joint ventures, employees and suppliers ) from any and all Claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. In addition, you waive any protection available to you under California Civil Code §1542, which says: [a] general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if not known by him must have materially affected his settlement with the debtor.
- 5.3 Disputes with w3coins. If you think we have made an error, write to us at w3coins or email us at support at firstname.lastname@example.org. In your correspondence, you must give us information sufficient to identify you, your account, and the transaction on which you believe an error occurred. You must contact us within 30 days after the transaction occurred. Within 90 days of receiving your request, we must either correct the error or explain to you why we believe the transaction was correct.
- 6.1 w3coins may introduce you to third party customers or "Tellers" for the purpose of depositing funds into your w3coins account. While we try to verify each Teller, we will not assess the suitability, legality or ability of any third party deposit providers and you expressly waive and release the company and/or its directors, officers and employees from any and all liability, claims or damages arising from or in any way related to the third party deposit service provider. The company will not be a party to disputes, negotiations of disputes between you and such third party providers. Responsibility for the decisions you make regarding services offered via the software or service (with all its implications) rests solely with you. We will not assess the suitability, legality or ability of any such third parties and you expressly waive and release the company and/or its directors, officers and employees from any and all liability, claims, causes of action, or damages arising from your use of the software or service, or in any way related to the third parties introduced to you by the software or service.
- 6.2 Any references in the Site, Application or Services to a Customer being "verified" or "connected" (or similar language) only indicate that the Member has completed a relevant verification process, and does not represent anything else. Any such description is not an endorsement, certification or guarantee by w3coins about any Customer, including of the Customer's identity and whether the Customer is trustworthy, safe or suitable. Instead, any such description is intended to be useful information for you to evaluate when you make your own decisions about the identity and suitability of others whom you contact or interact with via the Application and Services. We therefore recommend that you always exercise due diligence and care when deciding whether to trust a Teller or to accept a deposit request from a Customer, or to have any other interaction with any other Customers.
7. GENERAL PROVISIONS.
- 7.1 Limitations of Liability. IN NO EVENT SHALL WE, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF w3coins BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, w3coins SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE). Some states do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you. OUR LIABILITY, AND THE LIABILITY OF OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS , TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.
- 7.2 No Warranty. w3coins SERVICES ARE PROVIDED "AS IS" AND WITHOUT ANY REPRESENTATION OF WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. w3coins, THE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES AND SUPPLIERS OF w3coins SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. w3coins does not have any control over the products or services that are paid for with w3coins services outside of bonuses and commissions w3coins cannot ensure that a buyer or a Seller you are dealing with will actually complete the transaction or is authorized to do so. w3coins does not guarantee continuous, uninterrupted or secure access to any part of w3coins services, and operation of our site may be interfered with by numerous factors outside of our control. w3coins will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts, credit cards, and check issuances are processed in a timely manner but w3coins makes no representations or warranties regarding the amount of time needed to complete processing because w3coins services are dependent upon many factors outside of our control, such as delays in the banking system or the U.S. or international mail service. Some states do not allow the disclaimer of implied warranties, so the foregoing disclaimers may not apply to you. This paragraph gives you specific legal rights and you may also have other legal rights that vary from state to state.
- 7.3 Arbitration. Except for claims for injunctive or equitable relief or claims regarding intellectual property rights (which may be brought in any competent court without the posting of a bond), any dispute arising under this Agreement shall be finally settled on an individual basis in accordance with the American Arbitration Association's rules for arbitration of consumer-related disputes and you and w3coins hereby expressly waive trial by jury. The arbitration shall take place in San Francisco, California, in the English language and the arbitral decision may be enforced in any court. The prevailing party in any action or proceeding to enforce this Agreement shall be entitled to costs and attorneys' fees.
- 7.4 Time Limitation on Claims. You agree that any claim you may have arising out of or related to your relationship with w3coins must be filed within one year after such claim arose; otherwise, your claim is permanently barred.
- 7.5. Export Controls & Sanctions. w3coins services through the w3coins site is subject to United States of America and international export controls and economic sanctions requirements. By acquiring any such items through the w3coins site, you represent and warrant that your acquisition comports with and your use of the item will comport with those requirements. Without limiting the foregoing, you may not acquire bitcoin or any of the w3coins services through the w3coins site if: (1) you are in, under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo, UN sanctions, HM Treasury's financial sanctions regime, or if you are on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List HM Treasury's financial sanctions regime; or (2) you intend to supply the acquired bitcoin or w3coins Services to Cuba, Iran, North Korea, Sudan or Syria or any other country subject to United States embargo or UN sanctions (or a national or resident of one of these countries), or to a person on the Specially Designated Nationals List, Denied Persons List, Unverified List, Entity List, or HM Treasury's financial sanctions regime.
POLICY ON CUSTOMERS FROM STATE OF NEW YORK
In light of the recent New York "BitLicense" regulations we have regretfully decided to no longer service customers who are either residents of, or are located in the state of New York. By signing up for an account with us or by using any of our products and services, you confirm that you are not a New York State resident or New York State legal entity, and that you will not be using our services from the State of New York.
APPENDIX 1: PROHIBITED BUSINESSES AND PROHIBITED USE
The following categories of businesses, business practices, and sale items are barred from w3coins services ("Prohibited Businesses"). By opening a w3coins account, you confirm that you will not use w3coins services in connection with the following businesses, activities, practices, or items:
- Operating as an unlicensed money transmitter, money service, payment service provider, e-money, or any other financial services business which requires licensure, including but not limited to exchanges of virtual currencies, sales of money orders or traveler's checks, and escrow services
- Counterfeit products or any product or service that infringes upon the copyright, trademark, or trade secrets of any third party
- Stolen goods
- Narcotics, controlled substances, prescription and pharmaceutical services, drug paraphernalia, or any substances designed to mimic illegal drugs
- Gambling, except where permitted by w3coins
- Sports forecasting or odds making
- Prostitution or illegal escort services
- Violent acts towards self or others, or activities or items that encourage, promote, facilitate or instruct others regarding the same
- Funding any of the items included on this Prohibited Businesses list
- Extortion, blackmail, or efforts to induce unearned payments
- Unlicensed sale of firearms and certain weapons
- Engaging in deceptive marketing practices
- Any business that violates any law, statute, ordinance or regulation
You may not use your w3coins Account to engage in the following categories of activity ("Prohibited Use"). By opening a w3coins Account, you confirm that you will not use your Account to do any of the following:
- Violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member (for example, those laws, rules, or regulations governing financial services, controlled substances, or consumer protections);
- Partake in a transaction which involves the proceeds of any unlawful activity;
- Partake in any transaction involving online gambling except where permitted by w3coins;
- Defraud or attempt to defraud w3coins or other w3coins users;
- Infringe upon w3coins's or any third party's copyright, patent, trademark, or intellectual property rights;
- Provide false, inaccurate or misleading information;
- Take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data, or information;
- You may not use your promise shares as actual shares until w3coins is listed publicly where you'll then be able to acquire the shares per your package purchased. This means; no trading publicly nor privately, no soliciting publicly nor privately. This also means if you choose to acquire more shares within your limit per your purchased package on top of the shares you will receive when w3coins is listed publicly, you may only do so once w3coins is listed publicly.
- Interfere with another individual's or entity's access to or use of any of the w3coins Services;
- Defame, abuse, harass, stalk, threaten or otherwise violate or infringe the legal rights (such as, but not limited to, rights of privacy, publicity and intellectual property) of others;
- Publish, distribute or disseminate any unlawful material or information;
- Transmit or upload any material to the w3coins Site that contains viruses , Trojan horses, worms, or any other harmful or deleterious programs;
- Harvest or otherwise collect information from the w3coins Site about others, including without limitation email addresses, without proper consent;
- Act as a payment intermediary or aggregator or otherwise resell any of the w3coins Services, unless expressly authorized by w3coins in writing;
- Transfer any rights granted to you under this Agreement;
- Use the w3coins Account information of another party to access or use the w3coins Site, except in the case of specific Merchants and/or applications which are specifically authorized by a user to access such user's w3coins Account and information;
- Otherwise attempt to gain unauthorized access to the w3coins Site, other w3coins Accounts, computer systems or networks connected to the w3coins Site, through password mining or any other means; or
- Engage in transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy or any other proprietary right under the law.
- US Residents are prohibited from using w3coins for money transmission or to conduct any other financial activity requiring licensure or covered by regulations governing financial services.