BitPayd Sp. z o.o. Terms and Condition
1. Introduction and Agreement
This document outlines the Terms and Conditions (Terms) for using BitPayd Sp. z o.o.'s services (the "Platform"). These terms apply to your use of the website (bitpayd.com), the platform itself, all associated services, and any embedded content.
By using our services, you acknowledge that you have read, understood, and agreed to these Terms. This includes consent for the collection, processing, and storage of your personal data according to our Privacy Policy.
We reserve the right to modify these Terms at any time without prior notice. The latest version will always be available at [link to Terms and Conditions] with a timestamp indicating the most recent update.
If you disagree with these Terms, please refrain from registering on bitpayd.com or using our services. For any questions or concerns, contact us at [email protected] before attempting to register.
2. Service Description
BitPayd Sp. z o.o. provides a platform designed to simplify cryptocurrency purchases, storage, and management for individual and business users. The core of this infrastructure is the User Profile, which includes:
User Information: This information is collected during a one-time Customer Due Diligence (CDD) process to establish your identity and enable access to the platform and any integrated third-party services. We may request additional information or documents as part of ongoing monitoring (e.g., Enhanced Due Diligence (EDD) to verify the source of funds for Fiat transactions). Each User Profile is assigned a unique ID code to be used when making Fiat payments to BitPayd Sp. z o.o.
Operational Funds: When you place an Exchange Order, BitPayd Sp. z o.o. acts as your sole counterparty. This means we are directly involved in buying or selling cryptocurrency on your behalf. Our services do not include Peer-to-Peer (P2P) exchange with other users or exchanging Fiat currencies.
Please note:
BitPayd Sp. z o.o. is not responsible for how users interpret information from the service description, User Agreement, or other communication channels. We do not offer trading advice or financial consulting services.
Each Exchange Order placed on the platform reflects your willingness to enter into a transaction with BitPayd Sp. z o.o. as the counterparty.
Geographic restrictions may limit your access to certain features or the platform entirely. You are responsible for complying with the laws of your jurisdiction.
While we strive for accuracy, BitPayd Sp. z o.o. cannot guarantee the information provided on the platform. We are not liable for any losses or damages resulting from your use of this information. Information is intended to assist users in making independent decisions and is subject to change.
Cryptocurrencies involve inherent risks. Users should exercise caution and trade responsibly, considering their financial situation and market conditions.
We encourage all users to be mindful and conduct trades with awareness, taking into account their financial situation and the cryptocurrency market conditions.
3. Key Terms and Definitions
This section clarifies the meaning of specific terms used throughout this Agreement. These definitions supplement any terms defined elsewhere in the document.
Agreement: This refers to the current set of Terms and Conditions for BitPayd Sp. z o.o., including all essential and integral parts. These terms may be modified at any time according to their provisions. Integral parts of this Agreement include core policies like Anti-Money Laundering/Counter-Terrorist Financing (AML/CFT), Privacy Policy, and any specific agreements or usage terms issued by BitPayd Sp. z o.o. that are explicitly stated as part of this Agreement.
AML/CFT Policy: This policy outlines internal rules and procedures designed to prevent money laundering and terrorist financing. It also incorporates Know Your Customer (KYC) and Due Diligence measures. A summary of this policy can be found at [link to BitPayd AML/CFT Policy]. This policy is considered an inseparable part of this Agreement.
Business Day: Any day of the week except Saturday, Sunday, or public holidays in the Republic of Poland when financial institutions are permitted to close.
Confidential Information: This includes any information you receive or learn through BitPayd Sp. z o.o.'s services or by accessing and using the Platform that is considered confidential or proprietary to BitPayd Sp. z o.o. or its third-party licensors. This encompasses information related to technology, financial data, and business operations, regardless of whether it is designated as confidential.
Digital Assets/Cryptocurrency: A digital representation designed to function as a medium of exchange that utilizes cryptography to secure financial transactions, control the creation of additional units, and verify the authenticity of transactions between users.
Currency: This includes government-issued currencies (e.g., EUR) and digital currencies (e.g., BTC, ETH, USDT).
Deposit: The transfer of assets (fiat or cryptocurrency) to BitPayd Sp. z o.o. (via wire transfer or cryptocurrency transfer) by a Client to fulfill an exchange request submitted on the Platform.
Fee: A commission charged on the total amount of funds a user sends to BitPayd Sp. z o.o. as a service fee for exchange transactions
Fiat Currency: Government-issued money that is legal tender in the country of issuance and accepted as a medium of exchange by local authorities. (e.g., USD, EUR, JPY)
Funds: The total amount of fiat currency or cryptocurrency that a user transfers to BitPayd Sp. z o.o. to be exchanged.
Governmental Authority: This encompasses any national, federal, state, provincial, county, municipal, or local government body, domestic or foreign. It also includes any entity, authority, ministry, or similar body that exercises executive, legislative, judicial, regulatory, or administrative functions related to government.
BitPayd Sp. z o. o. (also referred to as "we", "us", or "the Company"): A company registered under registration code (insert code) with its legal office address at (insert address). In the context of this Agreement, BitPayd Sp. z o.o. may also refer to the company's services, products, websites, content, and other materials.
BitPayd Sp. z o. o. Account: A secure section of the Platform that a user can access after successful verification. This account allows users to place exchange orders with BitPayd Sp. z o.o. It contains information about placed and canceled orders, completed exchanges, and other relevant user data related to service provision.
BitPayd Sp. z o. o. Account Data: This includes login credentials (username, password), email address, two-factor authentication details (if enabled), and any other information deemed necessary by BitPayd Sp. z o.o. for account access.
Law: All applicable laws, regulations, judgments, decrees, treaties, ordinances, orders, rulings, interpretations, and policy statements from any regulatory or self-regulatory organization, authority, agency, or body that govern BitPayd Sp. z o.o., the User, and their respective operations.
Order: An instruction submitted through the Platform that represents a user's willingness to participate in an exchange on the BitPayd Sp. z o.o. platform. This indicates the user's desire to either buy or sell cryptocurrency with a specific amount of fiat currency. Orders are filled based on the current market rate for the chosen cryptocurrency pair.
Party/Parties: Refers to BitPayd Sp. z o.o. and/or the User, as well as any third parties involved in the User-BitPayd Sp. z o.o. interaction. This may include banking partners, liquidity providers, and third-party KYC tools used by BitPayd Sp. z o.o. for customer screening, among others.
Personal Data: This refers to any information that can be used to identify an individual user. Examples include name, address, email address, and banking information. Anonymized and/or aggregated data that does not pinpoint a specific User is not considered Personal Data.
Platform: This refers to the BitPayd Sp. z o.o. exchange platform, accessible online through a web interface, application programming interface (API), or any other user interface that BitPayd Sp. z o.o. may establish or authorize for users to conduct transactions.
Privacy Policy: This is a core component of the Agreement and outlines how BitPayd Sp. z o.o. collects, stores, distributes, and protects user privacy data. The full text of the Privacy Policy can be found on a dedicated section of the Platform (link to BitPayd Privacy Policy).
Representative: This refers to any individual's officials, directors, employees, supervisors, workers, specialists, and anyone else authorized by Law, protected reports, legal authority, or a comparable record.
Services: This encompasses all services offered by BitPayd Sp. z o.o.
Transaction: This refers to an exchange initiated by a User on the Platform, involving
either fiat or digital currency.
User: This refers to any individual who has agreed to this Agreement with BitPayd Sp. z
o.o. and utilizes the Platform and any associated services.
Website: This refers to the collection of information, text, graphic and design elements,
images, photos, videos, and other intellectual creations, along with the information system's collection of computer programs that ensure accessibility of this information at bitpayd.com and all its subdomains.
Withdrawal: (definition not provided, likely refers to the process of transferring funds out of a BitPayd Sp. z o.o. account)
Additional Notes:
The parties should interpret any undefined terms in accordance with the laws of the Republic of Poland.
Headings, schedules, and paragraph titles within this Agreement are for informational purposes only and do not hold any legal weight. They are included solely to enhance readability.
4. Agreement Conditions
This section outlines the conditions under which BitPayd Sp. z o.o. provides services to Users as defined in this Agreement:
4.1 Services Provided by BitPayd Sp. z o.o.
In accordance with this Agreement, BitPayd Sp. z o.o. offers Users the following services:
Access to the Services for executing exchange orders.
Access to the User's BitPayd Sp. z o.o. Account on the Platform and the Website.
Information necessary to utilize the Platform and execute exchange orders.
4.2 Additional Services
BitPayd Sp. z o.o. may offer additional services beyond those explicitly mentioned in this Agreement. These services may be periodically introduced on the Website or within the Platform and will also be subject to the terms of this Agreement.
4.3 Market and Jurisdictional Restrictions
BitPayd Sp. z o.o. reserves the right to select operational markets and jurisdictions. The company may also deny or restrict access to its Services in certain countries based on applicable laws, regulations, and internal company policies (for more information, please refer to the "Eligibility" section below).
4.4 Modifications to the Agreement
BitPayd Sp. z o.o. maintains the sole discretion to modify or change this Agreement at any time. The company will notify Users of such changes by updating the effective date on this page and posting the revised Agreement on the website at bitpayd.com. These changes will take effect immediately upon being incorporated into the Agreement on the website. The most recent version of the Agreement will always be available on the website. Your continued use of BitPayd Sp. z o.o.'s services and website constitutes your acceptance of the revised terms and conditions. If you do not agree to any changes made to this Agreement, you must cease using the Website and Services. BitPayd Sp. z o.o. encourages you to regularly review the Agreement on the designated section of the website to ensure you are aware of the current terms and conditions governing your use of the Website and Services.
5. Fee Policy
5.1 User Account Registration
Before using the Services, all Users must create a BitPayd Sp. z o.o. Account by registering on the website at bitpayd.com. During registration, you will need to provide your real name, email address, password, and agree to the Terms and Conditions and Privacy Policy. BitPayd Sp. z o.o. reserves the right, in its sole discretion, to decline your account application without providing a specific reason. By registering for a BitPayd Sp. z o.o. Account, you agree to provide complete and accurate information and to update this information promptly to ensure BitPayd Sp. z o.o. maintains accurate records. Each registration is limited to a single User, and each User, including any legal entity, can only have one active BitPayd Sp. z o.o. Account.
5.2 Identity Verification
By registering for a BitPayd Sp. z o.o. Account, you consent to providing personal information required for identity verification. This information is used specifically to prevent illegal activities such as money laundering, terrorist financing, and fraud on the Platform. In accordance with our published Privacy Policy, we will only collect, use, and disclose this information to our third-party
service providers or law enforcement agencies upon legally justified requests. You agree to allow us to retain this information for the duration of our active business relationship (i.e., while your BitPayd Sp. z o.o. profile is active), and for five years after account closure, as mandated by Act No. 101/2000 Coll., on the Protection of Personal Data, as amended. This helps us comply with global data retention standards. We also reserve the right to conduct additional identity verification checks throughout your business relationship with us to ensure your identity and protect both you and us from financial crimes.
5.3 Identity Verification Information
As part of the identity verification process, you will be required to complete an initial customer questionnaire, where you will provide personal information about yourself. The questionnaire is the same for both individual Users and Legal Entity Representatives, who may be acting on behalf of a registered business or authorized to represent the business based on a formal designation. To complete your BitPayd Sp. z o.o. account registration, you will be required to provide the following personal information:
Full Name
Email Address
Phone Number (optional)
Date of Birth
Permanent Residential Address and Country of Residence
Politically Exposed Person (PEP) Status (yes/no)
US Tax Resident Status (yes/no)
By providing this information, you confirm that it is accurate and truthful. Following registration, you are responsible for maintaining the accuracy, completeness, and timeliness of your provided information. BitPayd Sp. z o.o. reserves the right to request corrections, directly remove inaccurate information, or, in extreme cases, suspend or terminate all or part of your access to the Services if there is a reasonable suspicion that any information you have provided is incorrect, untrue, outdated, or incomplete. If we are unable to reach you through the provided contact details, you will be solely liable for any losses or costs incurred while using BitPayd Sp. z o.o. Services. You therefore acknowledge and agree to the responsibility of keeping your information updated in case of any changes.
5.4 Account Verification Process
After completing the initial questionnaire, you can begin the verification process. A third-party KYC (Know Your Customer) service provider handles the technical aspects of this process. The verification process has multiple stages depending on the total transaction volume a User intends to conduct on the Platform.
BitPayd Sp. z o.o. categorizes the Customer Verification Procedure into two steps: Simplified Due Diligence (SDD) and Enhanced Due Diligence (EDD).
Simplified Due Diligence (SDD):
The SDD process initiates when a User creates a new account on the Platform and clicks the "Verify" button. After completing the initial questionnaire, you will be required to submit one of the following documents for an automatic KYC check conducted by our GDPR-compliant third-party service provider:
A valid passport (citizen's passport or international passport, depending on your country's requirements)
A government-issued identification card
A residence permit card
A foreign alien passport
A valid Republic of Poland driver's license
A valid foreign driver's license that displays your name, photograph, signature (or image
of signature), date of birth, and/or personal identification code
A military ID
successful completion of a "Liveness" check conducted by the third-party service
provider (this check typically requires a device with a functioning camera and microphone)
For representatives of legal entities, the process is different. After completing the initial verification, they should click the designated "Corporate Verification" button within their profile settings. This initiates the Corporate Verification process, which requires submission of the following documents:
Certificate of Incorporation
Articles/Memorandum of Association
Shareholders/Directors Registry
Extract from the Register of Legal Entities
Latest Annual Financial Report
Proof of Address (Business Utility Bill or Bank Statement, dated within the past three
months)
Bank Account Statement (covering the past 6 months)
Certificate of Good Standing/Incumbency
Funds Flow Chart (including the Legal Entity's main partners)
Estimated Transaction Volumes
Ownership Structure (detailing all Beneficiaries of the Legal Entity)
Missing Documents and Substitutions:
BitPayd Sp. z o.o. acknowledges that some countries may not have or issue certain document types requested during Corporate Onboarding. In such cases, the company reserves the right to either:
Request additional documentation from the legal entity to comply with onboarding procedures.
Allow the legal entity to omit specific documents from the submission package.
However, this omission is only possible if the legal entity can provide suitable replacement documents that address the missing information. The final decision regarding document acceptance rests with BitPayd Sp. z o.o.
5.5 Enhanced Due Diligence (EDD) Procedures at BitPayd Sp. z o.o.
BitPayd Sp. z o.o.may initiate EDD (Enhanced Due Diligence) procedures under two main circumstances to ensure ongoing business relationships comply with regulations:
Non-EU/EEA Residents: Users who are not citizens or residents of a European Union (EU) or European Economic Area (EEA) country will be subject to EDD.
Internal Risk Assessment: BitPayd Sp. z o.o. utilizes an internal risk scoring system that assigns a unique risk profile to each registered and verified User. Based on this profile, the company may deem EDD procedures necessary.
EDD Requirements:
BitPayd Sp. z o.o. reserves the right to request additional information or actions from Users during the EDD process. To maintain account access, Users flagged for EDD may be required to complete the following:
Source of Funds Documentation: Provide documents demonstrating the origin of funds intended for future transactions on the platform.
Supplementary Questionnaire: Complete an additional questionnaire with multiple-choice questions regarding current employment status, source of funds for upcoming transactions, and planned transaction volumes.
Bank Statements: Submit bank statements from the accounts used to transfer funds to BitPayd Sp. z o.o. These statements should clearly show the source of the transferred or intended funds.
Acceptable Sources of Funds:
BitPayd Sp. z o.o. recognizes the following as legitimate sources of funds (this list is not exhaustive):
Dividends
Salaries
Sales of securities or real estate
Loans
Inheritance
Employee bonuses
Any other verifiable and legal source of income reflected in bank statements
Cash deposits and third-party transfers are not accepted sources of funds without clear legal justification and supporting documentation.
BitPayd Sp. z o.o. also reserves the right to request additional documents beyond bank statements to verify the legitimacy of the source of funds. This may include documents like employment contracts or certificates of asset sales.
Proof of Address:
The following documents are acceptable as proof of address:
Bank statement
Building society or credit card statement
Solicitor's letter confirming recent property purchase
Land registry confirmation (accompanied by proof of previous address)
Government tax document (e.g., tax assessment, account statement)
Utility bill (gas, electricity, water, fixed-line phone)
All submitted documents must be dated within the past three months from the application date and clearly display the User's name and current address.
Potential Additional EDD Measures (at BitPayd Sp. z o.o.'s Discretion):
Following the submission of the Source of Funds document and completion of the additional questionnaire, BitPayd Sp. z o.o. may request one of the following to finalize the EDD process:
Third-Party Liveness Check: Pass a "Liveness" test conducted by a third-party service provider. This typically involves using a device with a functioning camera and microphone.
eIDAS Compliant Electronic Signature (if applicable in your region): Sign the EDD questionnaire using an electronic signature that complies with the European Union's eIDAS standards. For a complete list of EU countries with eIDAS compliant electronic signatures, refer to [invalid URL removed]. Please note that currently, BitPayd Sp. z o.o. only recognizes eIDAS compliant electronic signatures issued within the EEA.
Biometric Verification (if applicable document submitted): Utilize a third-party service provider to scan the biometric data chip on the previously submitted identification document used during the SDD process (requires a device with Near Field Communication (NFC) and an ID containing a biometric data chip).
Alternative Identification Methods: BitPayd Sp. z o.o. reserves the right to implement other digital identification methods deemed necessary to verify that the User profile is genuinely operated by the individual who completed the SDD process.
Completion of EDD and Termination Rights:
Any of the above methods can be used by an individual User or an authorized representative of a legal entity. Once all chosen EDD methods are completed, the EDD process is considered finalized.
Important Note: Even after successful EDD completion, BitPayd Sp. z o.o. reserves the right to terminate a business relationship without disclosing the reason(s) for termination.
5.6. Verification and Data Collection: There are no fees associated with verification and data collection procedures on this platform.
5.7. User Authorization and Information Sharing: By creating an account with BitPayd Sp. z o.o. (hereafter referred to as "the Company"), you grant them permission to:
Conduct any necessary checks to verify your identity and protect both you and the Company from fraud or other financial crimes. This may involve direct research or utilizing third-party services.
Share your personal information with financial crime agencies or third-party vendors (limited to KYC service providers and financial institutions with established business relationships with the Company). Sharing will comply with applicable legislation, such as anti-money laundering and terrorist financing laws.
5.8. User Account Security: The Company implements industry-standard safeguards to protect User funds. However, additional risks exist due to the nature of online data transmission. You agree to:
Keep your registered email address and password confidential and not share them with anyone.
Be solely responsible for safeguarding these credentials and the security of your BitPayd Sp. z o.o. account.
Strongly consider enabling Google Two-Step Verification for further account protection.
Important Note: Neither the Company representatives nor any third-party vendors or service providers will ever ask for your account credentials. Sharing them with unauthorized parties constitutes a breach of this agreement.
5.9. User Account Responsibility: You are entirely responsible for all activity occurring under your BitPayd Sp. z o.o. account. This includes, but is not limited to, information disclosure, posting, agreement acceptance through website clicks, online agreement renewals, and similar actions, regardless of authorized or unauthorized access.
5.10. User Obligations: By creating a BitPayd Sp. z o.o. account, you agree to:
Immediately notify the Company of any suspected unauthorized access to your account or password, or any other security breach.
Log out of the website by completing the required steps at the end of each visit.
6. Service Fees and Taxes
6.1. Service Fees: BitPayd Sp. z o.o. (hereafter referred to as "the Company") charges a service fee for exchange orders placed on the platform. This fee is a flat commission rate, including a fixed amount and a variable spread, and deducts up to 13% of the user's payment. It applies to both buy and sell orders.
6.2. User Responsibility for Taxes: You are solely responsible for any taxes arising from using the Company's services or website. You agree to hold the Company harmless from any claims, penalties, or liabilities related to:
Withholding taxes at the source of payment
Labor and employment law requirements
Taxes at the source of payment imposed by relevant tax authorities on the Company
related to any funds paid or received
6.3. Order Status: Once you place an order to exchange funds using the platform (an "Exchange Order"), your BitPayd Sp. z o.o. account will reflect the order and its status. These statuses include:
Awaiting Payment: User's payment hasn't been received yet.
Top-up: User's payment has been received and confirmed.
Exchange: User's funds are being transferred for conversion.
Completed: Exchange order is finished, and funds are sent to the user.
6.4. Order Cancellation: You can only cancel an order before it reaches "Exchange" status. Once in "Exchange" status, you cannot change, withdraw, or cancel your authorization for the Company to complete your order. The Company reserves the right to deny any cancellation requests after an order is submitted.
6.5. Fee Payment and Changes: The fees outlined in this agreement are payable by you to the Company. The Company reserves the right to change the fees or pricing structure at any time in its sole discretion. Any exchange orders will be subject to the most recent fees. By agreeing to these terms, you authorize the Company to deduct any outstanding fees from your BitPayd Sp. z o.o. Account.
7. Acceptable Use of the Services 7.1. By using the services, you agree to the following:
Comply with all applicable laws, regulations, and ordinances.
Not attempt to defraud BitPayd Sp. z o.o. (the Company) or other users.
Provide truthful, accurate, and non-misleading information.
Not tamper with, intercept, or steal data, information, or systems.
Not upload or transmit viruses, malware, or other malicious programs.
Not attempt unauthorized access to the Company's records, website, or connected
systems.
Not use the services on behalf of any third party without express permission from the
Company.
Not attempt to access other users' profiles or collect their information without consent.
Not harass, defame, or infringe on the privacy or intellectual property rights of the
Company or its users.
7.2. Order Fulfillment:
Orders placed during normal business hours will typically be fulfilled according to section 9.
Orders placed during planned or unplanned downtime will be processed with commercially reasonable efforts upon the Company's reopening. During downtime, the Company reserves the right to reject or cancel any orders.
7.3. Service Disruptions:
Delays, difficulties, or conditions affecting order transmission or execution beyond the Company's control (e.g., technical failures, power outages, internet disruptions, market congestion) may occur, and the Company is not responsible for them.
7.4. User Account Responsibility:
You are responsible for all activity, including transactions, on your account and maintaining the confidentiality of your login credentials.
In case of suspicious activity, the Company may request additional information or verification documents and freeze any exchange until the verification is complete. You are obligated to comply with these security requests or risk account termination.
Report any unauthorized account use or security breach to the Company immediately. The Company or any other user may terminate your account for violating these terms and hold you liable for any losses.
8. Eligibility
8.1. Agreement Acceptance:
Users are strongly encouraged to read these terms thoroughly before using the website(s) and acknowledge their understanding and agreement by checking the designated box. Checking the box signifies that you have read and understood the entire Agreement.
8.2. Account Registration:
While browsing the website(s) is possible without registration, accessing certain platform services may require registration and a BitPayd Sp. z o.o. (the Company) account. This process involves creating a password, verifying an email address, and selecting a username.
8.3. User Warranties and Representations:
By registering a BitPayd Sp. z o.o. account (as defined in Section 8 below), you warrant and represent that:
The information provided is truthful, accurate, complete, and up-to-date.
You are at least 18 years old or the legal age to enter a binding contract.
You are not in violation of any laws in your country or the Republic of Poland when using
the services.
You possess the legal capacity to enter this agreement as an individual, legal entity, or
other recognized entity.
You haven't been previously banned from using the platform or services.
You don't have any other accounts with BitPayd Sp. z o.o. The platform strictly prohibits
using multiple accounts for a single user.
If you are a legal entity representative who is not a company beneficiary, you must have
written authorization for opening an account from a company director or board member. This authorization should be in writing, include your name and position within the company, and clearly state your authorization to enter a commercial relationship with the Company. The Company may also accept it in a free format if deemed sufficient. Additionally, if the company is authorizing you to open and manage the account on its behalf, the resolution must include the person's name, signature, and signing date.
8.4. International Compliance and Sanctions:
Be aware that your use of the platform, website, and services is subject to international regulations and economic sanctions imposed by various global authorities. You agree to comply with these restrictions whenever engaging in sending, receiving, buying, selling, or trading digital assets through the platform or elsewhere.
You are strictly prohibited from using the platform, submitting requests, or utilizing any services if:
○ You are a natural person listed on any sanctions list, including the U.S. Treasury Department's Specially Designated Nationals List, the U.S. Commerce
Department's Denied Persons List, or the EU or UK Treasury's financial
sanctions regime (regardless of your residency status). ○
○ You are located in, controlled by, or a resident/national of a high-risk jurisdiction identified by the FATF, a jurisdiction that prohibits cryptocurrency use, or a jurisdiction with additional restrictions outlined by the Company's Customer Due Diligence Procedures.
○ You reside in, are controlled by, or are a national of an unrecognized or partially recognized country or territory.
○ After reviewing this Agreement, you acknowledge that you cannot comply with the Company's policies or any potential requests for maintaining a business relationship with them.
8.5. User Responsibility for Local Laws:
BitPayd Sp. z o.o. is not responsible for any user's disagreement with their country's regulations. You are solely responsible for adhering to your nation's laws, including those related to cryptocurrency ownership, taxation, and asset disclosure.
8.6. Enhanced Due Diligence and Restrictions:
BitPayd Sp. z o.o. reserves the right to apply additional due diligence measures for individuals from high-risk jurisdictions. Additionally, the Company may restrict or prohibit platform and/or service use for specific jurisdictions if applicable laws or AML/KYC policies necessitate such actions.
8.7. Verification of Legal Entity Information:
If you represent a legal entity authorized to establish a commercial relationship by the respective legal entity's Management Board, BitPayd Sp. z o.o. reserves the right to request additional information about your organization, including the scope of its activity. You acknowledge and agree that the Company reserves the right to cross-check the submitted data against publicly available, reliable, and independent sources.
8.8. Account Closure:
BitPayd Sp. z o.o. reserves the right to terminate your account and deny access to the website(s) at any time and under any circumstance at its sole discretion, without prior notice.
9. Account Use Requirements 9.1. Account Activity and Order Execution:
Upon successful registration and access to your BitPayd Sp. z o.o. (the Company) account, you can conduct business independently and place exchange orders on the platform. These orders will be executed immediately upon receiving a bank transfer, unless you cancel your account beforehand.
9.2. Account Ownership and Security:
A BitPayd Sp. z o.o. account can only be used by the registered individual according to this agreement. The Company reserves the right to temporarily or permanently block an account if suspected of unauthorized use.
If you suspect or discover any unauthorized activity involving your username, password, or any other account data, you must notify BitPayd Sp. z o.o. immediately. The Company will not be held responsible for any damages or losses resulting from unauthorized use of your account by a third party.
9.3. Account Operations:
All account operations on the platform are conducted solely at your request through your BitPayd Sp. z o.o. account. The Company does not accept requests from third parties to perform any account operations (except for order placement directly within your user profile) or through methods outside of your account, such as via email or another communication channel.
10. User Flow and Exchange:
This section details the user journey, from initial registration to successful service completion.
1. Registration Process:
Users begin their experience with BitPayd Sp. z o.o. (the Company) by registering and providing essential information like name, surname, and email address.
2. Verification Process:
After registration, users complete a verification process, including Customer Due Diligence (CDD) checks:
○ Submit valid identification documents (national ID, residence permit, passport, or driving license).
○ Complete a detailed questionnaire related to compliance protocols.
○ Undergo a liveness check for enhanced security.
○ Have documents screened by third-party providers.
○ Be subject to ongoing monitoring for changes in their status against relevant lists.
3. Order Placement:
Users can choose between two primary service options:
○ Exchange fiat currency to cryptocurrency.
○ Exchange cryptocurrency to fiat currency.
4. Invoice and Payment:
After placing an order, users receive a detailed invoice on the platform.
Before making a payment, users must provide their crypto wallet details, which will be
screened by third-party providers.
5. Bank Details Verification:
Users are urged to carefully review provided bank details before making a payment.
BitPayd Sp. z o.o. emphasizes that users are solely responsible for any errors in
providing the wrong crypto wallet or sending funds to incorrect bank details.
10.1. Order Placement Procedure
To ensure successful fund acceptance, follow these steps when placing an exchange order on BitPayd Sp. z o.o. (the Company) platform:
Registered and Verified Users: Access the platform through your verified profile.
Order Selection: Choose "Buy" or "Sell" and specify the desired exchange amount.
○ Buying Crypto: Indicate the fiat amount you wish to convert and the desired
cryptocurrency.
○ Selling Crypto: Specify the amount of cryptocurrency to sell and the desired fiat
currency to receive.
Minimum Deposit: The minimum fiat/crypto deposit on BitPayd Sp. z o.o. is 50 euros.
Payment Options: Currently, the only payment option for closing an exchange order is a
direct transfer of fiat or cryptocurrency to the Company's bank information or wallet
address.
Settlement timeframe:
○ Fiat Deposits: Upon receiving notification from the Company regarding your fiat transfer receipt (typically 1-3 business days for SEPA, 2-5 business days for SWIFT), settlement will be processed within 15-30 minutes.
○ Cryptocurrency Deposits: Settlement occurs when the cryptocurrency payment receives enough confirmations on the relevant network (see Section 9.3 for details).
Source of Funds Documents: The Company reserves the right to request source of funds documents under Section 7 of this agreement.
10.2. Third-Party Involvement and User Responsibility
External parties (electronic money institutions, payment processors, banks, etc.) may be involved in moving assets during record keeping and exchange execution. The Company diligently maintains a network of partners who comply with relevant AML/CFT standards, GDPR, and data security regulations. However, the Company is not responsible for their actions.
Fees and Risks: You are responsible for any commissions, service fees, and risks associated with providing incorrect payment information during transfers.
10.3. Payment Instructions
Fiat Deposits: Upon placing an exchange order, you will receive the Company's current account IBAN and BIC/SWIFT information, along with your unique profile ID. Only use this information to send your fiat deposit.
Automatic Payment Routing: The platform may utilize an automatic payment routing system to determine the appropriate bank details for your transfer based on various factors. For multiple exchange orders, you might receive bank information from different Company payment partners. Always use the most recent information provided.
Incorrect Information: The Company reserves the right to reject payments sent with bank information that differs from what you received for a specific order. Rejected funds will be returned within 3 business days (SEPA) or 5 business days (SWIFT) from the receipt by the Company, subject to delays beyond the Company's control.
10.4. Cryptocurrency Deposits
Double-check Wallet Address: Always verify the wallet address provided by the Company. Avoid manually entering the address to prevent accidental loss of cryptocurrency. The Company is not liable for losses due to incorrect wallet addresses. Cryptocurrency transactions cannot be reversed.
10.5. Order Completion
The exchange order is considered completed when the corresponding amount of assets is credited to your BitPayd Sp. z o.o. account on the platform. The number of confirmations required for full cryptocurrency transfer to the Company's account might differ from the number needed to reflect funds in your account. The Company is not responsible for notifying users about such variations.
10.6. Automatic Order Processing
Customer payments received by BitPayd Sp. z o.o. may be processed automatically. If the received amount differs from the order amount, the order will be processed based on the actual received amount.
11. Usage of Virtual IBANs on platform
BitPayd Sp. z o.o. (the Company) offers improved cryptocurrency purchases in euros (EUR) through SEPA bank transfers using Virtual International Bank Account Numbers (vIBANs). However, it's important to understand that the Company is not a financial institution (bank or electronic money institution).
11.1 SEPA Bank Transfers with Virtual Details:
When placing an order on our platform, you can choose SEPA bank transfer as your payment method. The Company will provide dedicated account details for each transaction.
These details are not associated with a traditional bank account held by the Company. This also applies to SWIFT payments.
11.2 Payment Authorization:
Ensure payments originate only from your own bank accounts where you are the registered owner. The Company does not accept payments from unauthorized third parties.
11.3 Understanding Virtual IBANs (vIBANs):
In addition to regular bank details, you may be issued a vIBAN for processing fiat funds through your BitPayd Sp. z o.o. account.
A vIBAN is not the same as a traditional bank account and does not grant you the ability to manage funds like a regular account.
11.4 Third-Party Partnerships for vIBANs:
The Company may collaborate with licensed third-party payment partners to facilitate vIBAN functionality.
11.5 Agreement and Acknowledgement:
By using vIBANs, you explicitly acknowledge and accept these terms. The Company reserves the sole discretion to determine vIBAN issuance and usage.
Please understand that vIBANs are a specialized tool for processing bank transactions and do not offer the full functionality of a conventional bank account.
12. Risk Disclosure and Exchange Rate Determination 12.1. inherent Risks of Trading:
Trading cryptocurrencies and other digital assets involves significant risks. Prices can fluctuate dramatically, and the value of your assets can rise or fall at any time. Any digital
or traditional currency can experience substantial value swings and even become worthless. The possibility of loss exists in any market transaction and when holding these assets.
12.2. Exchange Rate Determination:
The exchange rate you see on the BitPayd Sp. z o.o. (the Company) platform is derived from aggregated data from a network of the Company's liquidity providers. This aligns with the information in Section 11. The exact exchange rate used for your order is locked in at the moment your order is executed, when your funds are converted to the desired currency. The entire order processing history is recorded within your profile.
12.3. Unique Risks of Cryptocurrencies:
Cryptocurrency trading carries unique risks not typically associated with traditional goods, commodities, or fiat currencies. Unlike government-backed currencies or physical commodities like gold, cryptocurrencies are a novel form of money reliant on technology and trust. No central bank can intervene to increase their value or take corrective actions in times of crisis.
12.4. Market Volatility and Confidence:
Cryptocurrency markets are prone to bubbles (rational or irrational) or loss of confidence, potentially causing supply to fall relative to demand. Factors like deflationary or inflationary spirals, unexpected software updates, government crackdowns, emergence of competing cryptocurrencies, or technical issues (compromised anonymity, lost/stolen funds, transaction disruptions by governments or hackers) can erode confidence.
12.5. Unforeseen Risks:
There may be additional risks beyond the scope of this agreement.
12.6. Irreversible Transactions:
You acknowledge that all cryptocurrency transactions are irreversible, and sent/received funds cannot be recovered. Completed orders cannot be canceled, reversed, or modified.
12.7. Responsibility and Risk Assessment:
You understand that BitPayd Sp. z o.o. does not provide financial advice. You are solely responsible for evaluating the nature, potential value, suitability, and risks associated with cryptocurrencies. Regulatory actions by governments can negatively impact the use, transfer, exchange, and value of digital assets. You acknowledge the high risks involved in digital asset transactions, including potential loss of funds due to past and future price and liquidity fluctuations.
13. Reporting Suspicious Activity and Account Suspension
13.1. If you discover suspicious activity on your BitPayd Sp. z o.o. (the Company) account, you must immediately notify the Company and follow their instructions. The Company reserves the right to suspend your account access until the investigation is complete.
13.2. By using the Service, you grant the Company permission to investigate any suspected violation of this agreement. The Company has sole discretion to determine if a violation has occurred and implement any relevant rules without your prior consent.
13.3. You acknowledge and agree that delays in fiat currency transfers may occur, except for network issues or technical problems with third-party service providers. The Company will inform you of any such delays.
13.4. In the event of suspected fraud, illegal activity, or the user's breach of this Agreement (including non-fulfillment or excessive fulfillment), the Company reserves the right to suspend your account and freeze any associated cryptocurrency or fiat currency.
13.5. In cases of suspected money laundering or other criminal activity, the Company will report all relevant data (including names, locations, etc.) to the appropriate authorities.
13.6. If the Company suspects fraudulent, illegal, or any other user activity that violates this Agreement, it reserves the right to conduct an internal investigation into the user and their transactions to gather evidence and clarify the situation.
13.7. The Company may request any data and documents related to your transactions, including identification, address, residency, bank accounts, proof of legal source of funds, cryptocurrency/fiat currency ownership, and anything else deemed necessary to verify transaction legality and user compliance with the law.
13.8. You agree to provide the requested information and documentation to assist the Company in determining the legality of your actions on the platform.
13.9. You are obligated to provide all requested data and documents in the format and timeframe specified by the Company. Submitting the requested information does not guarantee the removal of suspicion. The Company reserves the right to make decisions regarding your account at its sole discretion.
13.10. Failure to provide the requested information may result in account suspension and service access limitations.
13.11. All user-provided documents and data are stored and processed in full compliance with GDPR and Republic of Poland law. This information is solely used by the Company for investigating and preventing fraud, money laundering, terrorist financing, and other illegal activities. Data and document requests for investigating transaction legality will comply with GDPR and data protection regulations.
13.12. You acknowledge that your account may be blocked at any time upon request from a competent authority investigating fraud or other illegal activities, in accordance with applicable laws and regulations.
14. Transaction Fees 14.1. Buy/Sell Transaction Fees
The fee for executing buy and sell orders on the BitPayd Sp. z o.o. (the Company) platform can vary, but may reach up to 13% of the total order amount. This fee applies to both buying and selling transactions.
14.2. Factors Affecting Transaction Fees
The transaction fee is influenced by several factors, including:
The current average trade value for a specific cryptocurrency pair.
The volume of transactions in the queue (transaction queue size).
Rates charged by financial institutions handling fiat payments for the Company.
15. Refund and Recall Policy 15.1. Refund Eligibility
Refunds are generally only applicable to wire transfers made to BitPayd Sp. z o.o. in the following situations:
You fail to provide the required KYC (Know Your Customer) documents.
You decide to cancel your order.
If the Company cancels the order, any funds received from you will be refunded, minus any applicable third-party payment processing fees.
15.2. Refund Process
Refunds will be sent back to the original source of the funds, after deducting any processing costs incurred by the Company (e.g., wire transfer fees, currency exchange fees).
At the Company's sole discretion, refunds may be sent to a different source you own, provided you can verify ownership.
The Company strictly prohibits processing refunds to third parties, even with your consent.
If you request a refund to a different cryptocurrency wallet address or bank account than the one used for the deposit, you must provide a written explanation and any supporting documentation (e.g., confirmation of closed account).
The Company reserves the right to deny a refund to a different bank account or cryptocurrency wallet address if your justification is insufficient or raises AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) concerns.
15.3. Verification for AML/CFT Compliance
The Company may verify all refund-related information and payments to comply with AML/CFT regulations and prevent illegal activity. The Company may request additional documents or information to complete the refund process, such as your ID, bank information, or proof of ownership for the refund destination. The Company may delay the refund process if you fail to provide the required information or if doubts exist about the information's authenticity.
15.4. Right to Refuse Refunds
The Company reserves the right to deny any refund request or cancel an order without a refund if it suspects fraudulent or illegal activity.
15.5. Refund Processing Time
Assuming you provide all necessary information and documentation, the Company will process your refund without undue delay, typically within seven (7) business days of order cancellation.
15.6. Recalls and Account Suspension
In the event of a recall request from your bank, the Company reserves the right to suspend your account immediately until you provide additional information regarding the request. The Company may also request further documentation to confirm you have no outstanding financial claims against them before allowing you to continue using the platform.
16. Responsibility for Exploiting Vulnerabilities 16.1. No Hacking or Attacks
Users agree that any hacking attempts or attacks on the BitPayd Sp. z o.o. (the Company) website, platform, or services constitute wrongdoing, regardless of whether they are conducted
individually or as part of a group. Users may face criminal charges and be held liable for any financial or reputational harm caused to the Company.
16.2. Exploiting Vulnerabilities is Prohibited
Exploiting vulnerabilities in the Company's website, platform, or services to compromise their integrity, security, or performance is a serious offense. This can lead to administrative or criminal liability under applicable laws.
16.3. Permitted Use Only
Using vulnerabilities in the Company's website, platform, or services for any purpose other than those strictly permitted by this Agreement, whether for personal or professional gain, is a criminal offense (fraud) and may result in legal action.
16.4. Recovering Damages
The Company reserves the right to seek full compensation (actual damages and lost profits) from users who exploit vulnerabilities or technical errors on its website, platform, or services. This compensation may be pursued through a civil lawsuit.
16.5. Shared Responsibility
All users who exploit vulnerabilities or technical errors, whether individually or as part of a group, will be held jointly responsible for any losses incurred by the Company.
16.6. Reimbursing Illegal Gains
If a user intentionally or unintentionally exploits a vulnerability or technical error on the Company's website, they agree to reimburse the Company for any illegally obtained funds.
16.7. Account Termination
Any user who exploits a vulnerability or technical error on the Company's website, platform, or services will have their account permanently blocked, regardless of whether the Company suffered any financial losses.
17. Liability Disclaimer
17.1. No Fiduciary Relationship or Advice
BitPayd Sp. z o.o. (the Company) is not your broker, advisor, agent, or fiduciary. The Company's communications and information are not intended as investment, financial, trading, legal, tax, or other professional advice. You are solely responsible for determining the suitability of any
transaction based on your individual circumstances and risk tolerance. All trades are executed automatically according to your order instructions and posted procedures. You should consult with your own qualified professionals for personalized advice. The Company does not recommend acquiring, holding, or trading any cryptocurrency. You should conduct your own due diligence and consult with financial advisors before making any investment decisions. The Company is not liable for any actions you take based on the information it provides.
17.2. Services Provided "As Is"
The Company offers its services "as is," "where is," and "as available." The Company makes no guarantees regarding the accuracy, completeness, timeliness, merchantability, or fitness for a particular purpose of the BitPayd platform, its information, or its services. The Company is not liable for any inaccuracies, incompleteness, delays, interruptions, errors, or omissions arising from its negligence or contingencies beyond its control. You are solely responsible for any decisions or actions taken based on your use of the platform, services, or information.
17.3. Limitation of Liability
The Company will not be liable for any damages, including direct, special, indirect, consequential, or incidental damages, even if advised of the possibility. This limitation includes,
but is
not limited to, damages caused by:
Transmission of viruses infecting user equipment.
Failure of mechanical/electronic equipment or communication lines.
Telephone or other interconnection problems.
Unauthorized access, theft, operator errors, strikes, or other labor issues.
Force majeure events.
The Company does not guarantee secure, continuous, or uninterrupted access to the platform or services.
17.4. Specific Exclusions from Liability
The Company is not liable for:
User losses from transactions.
User-granted access to account data to third parties or loss of account data.
User-entered incorrect bank or cryptocurrency wallet information.
Software errors, internet disruptions, power outages, hacking attacks, or other events
beyond the Company's control.
Deletion of user-entered data from databases or systems beyond the Company's control.
17.5. Force Majeure
The Company will not be liable for any actions or losses due to force majeure events beyond its reasonable control, such as:
Riots, insurrections, wars, acts of terror, social unrest, rebellions, fires, floods, vandalism, sabotage.
Embargos
17.6. Loss of Funds
The user agrees that the Company is not liable or responsible for compensating the user in the event of stolen or lost funds due to hacking, hacking attacks (including DDoS attacks, data theft, or destruction), or other circumstances beyond the Company's control.
18. Indemnity
By using the BitPayd Sp. z o.o. (the Company) website, services, or content, you agree to indemnify the Company, its officers, employees, directors, contractors, and agents against any claims, lawsuits, proceedings, losses, liabilities, damages, costs, and expenses (including attorney's fees) arising from:
(a) Your violation of this Agreement's terms (b) Your breaking any applicable law (c) Your User Content (d) Your User Interaction
You agree to assist the Company in defending any such matters, and the Company may take control and action related to any issue for which you indemnify the Company.
19. Miscellaneous 19.1. Entire Agreement
This Agreement constitutes the entire understanding between you and the Company regarding your use of the Services and supersedes all prior agreements, whether written or oral. No custom, practice, or course of dealing between the parties will modify this Agreement.
19.2. Severability
If any provision of this Agreement is found to be invalid or unenforceable, the remaining provisions will remain in full force and effect. The invalid or unenforceable provision will be enforced to the maximum extent possible.
19.3. Assignment
You may not assign or transfer your rights to use the Services or your obligations under this Agreement without the Company's prior written consent. The Company may assign or transfer
any or all of its obligations under this Agreement, in whole or in part, without your knowledge or consent.
19.4. Waiver
A waiver of any breach or default of this Agreement will not constitute a waiver of any subsequent breach or default.
19.5. Export Controls and Sanctions
Your use of the Company's services and website is subject to international export controls and economic sanctions regulations. By using the website or services to send, receive, buy, sell, or store digital currency, you agree to comply with these regulations. You are prohibited from using the Company's services or acquiring digital currency through the platform if you are:
On a sanctioned person list (e.g., EU financial sanctions regime, US SDN List).
Intending to provide digital currency or services to a sanctioned country or its residents.
A resident of a restricted country (e.g., Liberia, Eritrea, etc.).
19.6. Severability (Another Way to Phrase It)
If any provision of this Agreement is found to be invalid or unenforceable by law, the remaining provisions will remain valid and enforceable. The validity or enforceability of the remaining provisions in other jurisdictions will not be affected.
19.7. User Confidentiality
You are required to keep confidential any information you obtain about other users through the Company's services and only use it for authorized purposes related to the services. You may not disclose user information to third parties or use it for anything other than completing transactions, support, reconciliation, or accounting, without the user's explicit consent. You may not send unsolicited communications to other users through the services.
19.8. Keeping Your Contact Information Updated
You are responsible for keeping your email address or phone number updated in your BitPayd Sp. z o.o. account profile to receive notifications or alerts, including security breach notifications.
19.9. Tax Obligations
You are solely responsible for withholding, collecting, reporting, and submitting the correct amount of tax to the appropriate tax authorities for any transactions conducted through the Company's services. Your account provides access to your transaction history to assist you in determining your tax obligations.
19.10. Entire Agreement and Superseded Agreements
This Agreement, along with any referred documents, constitutes the entire agreement between the parties and supersedes any prior agreements or understandings.
19.11. Assignment
You may not assign or transfer your rights or obligations under this Agreement. The Company reserves the right to transfer or assign its rights or obligations at any time, including during mergers, acquisitions, or other corporate reorganizations, as long as it does not significantly impact the quality of the services you receive.
19.12. Force Majeure
The Company will not be liable for any delays, performance failures, or service interruptions caused by events beyond its reasonable control, such as natural disasters, acts of war, civil unrest, telecommunication outages, equipment failures, and other similar occurrences. This provision does not affect the validity or enforceability of any remaining provisions.
20. Governing Law and Dispute Resolution
This Agreement will be governed by and construed in accordance with the laws of the Republic of Poland. Any dispute arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the courts of Poland.
Dispute Resolution Process
Before filing a formal legal claim, you agree to attempt to resolve the dispute informally by first contacting BitPayd Sp. z o.o. through [email protected]. If BitPayd Sp. z o.o. has not resolved your claim within 30 days of receiving your notice, the dispute shall then be resolved in the courts of Poland.
21. Local Regulations User Responsibility
You are responsible for complying with all applicable local laws and regulations regarding the use of BitPayd Sp. z o.o. services in your jurisdiction. This includes laws related to the legality of using cryptocurrency services.
Tax Compliance
You are also responsible for adhering to all local laws and regulations regarding the collection, reporting, withholding, and remittance of any and all taxes to the appropriate tax authorities. You are solely responsible for determining your tax obligations related to any transactions conducted through BitPayd Sp. z o.o. services. Your account provides access to your transaction history to assist you in this process.
Legal Source of Funds
By using BitPayd Sp. z o.o. services, you represent and warrant that all funds used by you come from a legitimate source and are not derived from any illegal activity.
Cooperation with Law Enforcement
BitPayd Sp. z o.o. cooperates with law enforcement agencies worldwide. If legally required, the Company may seize, freeze, or terminate your account and funds.
22. Intellectual Property 22.1. Ownership
All content on the BitPayd Sp. z o.o. platform, except for user content and third-party content, is the exclusive property of BitPayd Sp. z o.o. and is protected by copyright, patent, trademark, and other applicable laws. This includes text, images, graphics, data, prices, charts, audio, and video materials. BitPayd Sp. z o.o. and its licensors also own the trademarks, trade names, service marks, and logos used on the platform.
22.2. Trademarks and Service Marks
BitPayd Sp. z o.o. or third parties own all trademarks, service marks, and domain names used on the platform. This includes the BitPayd Sp. z o.o. name, logo, design, graphic images, corporate identity, and other source identifiers. You are strictly prohibited from using any of this intellectual property without prior written consent.
22.3. Copyright
The software used on the platform is protected by copyright and other intellectual property rights of the European Union and other countries. This also applies to the content itself, including text, graphics, logos, images, button labels, and all other intellectual property, both individually and as presented on the platform (collectively, the "Content"). The Content is the property of BitPayd Sp. z o.o. or third parties, including licensed user content.
22.4. Restrictions on Use
You may not use any automated or manual methods to copy, reproduce, modify, republish, upload, post, transmit, scrape, collect, or distribute the trademarks or other content on the BitPayd Sp. z o.o. website.
22.5. Permitted Use
You may only use the Content as expressly permitted by this Agreement. Any unauthorized use may violate copyright, trademark, or other applicable laws and could result in civil or criminal penalties. You must comply with all copyright notices, restrictions, and other legal notices attached to any Content.
23. Prohibited Activities
You may not use your BitPayd Sp. z o.o. account to engage in any of the following activities:
23.1. Illegal Activities
Activities involving the proceeds of illegal activity or violating any laws, regulations, or sanctions programs applicable to BitPayd Sp. z o.o.'s operations. This includes sanctions imposed by international or national authorities.
23.2. Account Use Restrictions
By creating a BitPayd Sp. z o.o. account, you agree not to use the account or BitPayd Sp. z o.o. services for any of the following activities:
Illegal Activities: Engaging in activities involving proceeds from illegal sources or violating any laws, regulations, or sanctions programs applicable to BitPayd Sp. z o.o.'s operations. This includes sanctions imposed by international or national authorities.
Unauthorized Access: Attempting to interfere with, intercept, or compromise BitPayd Sp. z o.o.'s technical infrastructure, data, or information. This also includes using password mining or other unauthorized methods to gain access to the platform, other users' accounts, or connected computer systems.
Improper Account Use: Sharing your account information with others or transferring your account rights to a third party unless legally required or with explicit permission from BitPayd Sp. z o.o.
Disruptive Behavior: Interfering with other users' ability to use the services, or abusing, defaming, harassing, stalking, threatening, or otherwise violating the legal rights of other users, including privacy, publicity, and intellectual property rights.
Hate Speech: Inciting, promoting, or facilitating hate speech, racial intolerance, or violence against others. This also includes harvesting or collecting other users' information, such as email addresses, without their permission.
Fraudulent Activity: Engaging in any behavior that aims to defraud BitPayd Sp. z o.o., its users, or anyone else. Providing false, misleading, or inaccurate information to BitPayd Sp. z o.o. is also prohibited.
Intellectual Property Infringement: You may not use BitPayd Sp. z o.o.'s trademarks, service marks, intellectual property, name, or logo without their explicit permission. This includes any act that could mislead others into thinking you're affiliated with BitPayd Sp. z o.o. or harm their brand. Additionally, you cannot engage in unauthorized use of data that could violate copyrights or intellectual property rights of BitPayd Sp. z o.o. or third-party service providers.
Prohibited Content: You are prohibited from uploading or transmitting any content that is:
○ Illegal, false, misleading, inaccurate, threatening, abusive, malicious, excessively cruel, vulgar, obscene, pornographic, libelous, violates privacy rights, incites hatred, or encourages criminal activity.
○
○ Promotes or depicts illegal drug use.
○ Contains offensive language or imagery.
○ Legally restricted to transfer due to legal, contractual, or fiduciary reasons.
○ Compromises someone's privacy or safety.
○ Infringes on someone's intellectual property rights.
○ Considered spam, junk mail, pyramid schemes, contests, or sweepstakes.
○ Infected with viruses or malicious code intended to harm computer systems.
○ Deemed inappropriate by BitPayd Sp. z o.o., or that hinders the use of the
platform by others, or could expose BitPayd Sp. z o.o. or its users to harm or
liability.
Compliance with Laws and Regulations: You agree to comply with all applicable local,
state, national, and international laws and regulations, including those related to intellectual property, the internet, technology, data, email, and privacy. You may not access the platform from locations where access is prohibited or restricted.
Unauthorized Products and Services: You may not advertise or offer products or services not permitted on the platform.
Technical Abuses: You may not use viruses, Trojans, malicious code, denial-of-service attacks, IP spoofing, or similar methods to interfere with the services, servers, or networks connected to the platform. You may not violate any network requirements, procedures, policies, or rules.
User Privacy: You may not share, publish, transmit, or provide information about another user without their permission.
Account Management: You may not register an account on behalf of a third party or create multiple accounts. You may not sell or transfer your username or account to a third party.
Impersonation: You may not provide false or misleading information about yourself or your affiliation with any person or entity, or attempt to impersonate someone else.
Data Scraping: You may not use robots, scripts, or other automated methods to extract, collect, monitor, mine, or copy content from the platform for commercial purposes without written permission from BitPayd Sp. z o.o.
Content Reuse: Except for your own content, you may not:
○ Use, reproduce, copy, duplicate, sell, exchange, or exploit the content.
○ Manually collect content using bots, scanners, or spiders.
○ Remove copyright or other intellectual property notices from the content.
Unauthorized Access: You cannot attempt to decrypt, decompile, disassemble, analyze, or otherwise try to obtain the source code of the platform or its underlying technical infrastructure.
Respectful Use: You may not use the services in a way that harms BitPayd Sp. z o.o.'s business reputation or relationships, disrupts the platform, or violates the security or rights of other users or third parties.
23.3. Right to Suspend or Block Access
BitPayd Sp. z o.o. reserves the right to suspend service provision or block any user's account, at its sole discretion and without disclosing the reason, for any of the following:
Violation of any terms of this Agreement, applicable laws, regulations, or BitPayd Sp. z o.o.'s internal rules and policies.
Other reasons deemed sufficient by BitPayd Sp. z o.o.
24. Disclosure and Confidentiality 24.1. Confidential Information
Any confidential information you receive about BitPayd Sp. z o.o. and its representatives as a result of this Agreement or related investigations must be kept confidential by you. This includes requiring your employees, officers, and consultants to do the same.
Exclusions from Confidentiality:
The confidentiality requirement doesn't apply to information that:
You legally possessed before this Agreement.
A third party voluntarily provided to you, without violating any confidentiality obligations.
Was publicly disclosed by BitPayd Sp. z o.o. itself.
Is already known to the public and wasn't disclosed in violation of confidentiality
agreements.
24.2. User Information
Except for normal business operations (such as banking or credit relationships), BitPayd Sp. z o.o. will not share or transfer information about users of the platform, website, or potential users.
24.3. Disclosure to Authorities
BitPayd Sp. z o.o. may disclose your confidential information to legal authorities (law enforcement, data protection, government agencies) when:
Required by law.
Necessary to comply with a subpoena, court order, or other legal process.
Believed to be necessary to prevent harm or financial loss.
Important to report suspected criminal activity.
Needed to investigate violations of this Agreement or any applicable law.
25. Agreement Termination 25.1. Account Suspension and Access
BitPayd Sp. z o.o. reserves the right to suspend your account and freeze any funds if it suspects a violation of this Agreement, our Privacy Policy, or applicable laws. We may also suspend access to the platform in such cases.
You acknowledge that BitPayd Sp. z o.o. has no liability for suspending, modifying, or terminating your account or access to the services, whether temporary or permanent.
Transaction data and other account information may be retained and used by BitPayd Sp. z o.o.
25.2. Reasons for Suspension or Termination
BitPayd Sp. z o.o. may suspend or terminate your account for the following reasons:
Government or Legal Proceedings: If your account is involved in a government proceeding, criminal investigation, or other pending litigation.
Unauthorized Access or Activity: If we detect unauthorized access to your account or unusual activity.
Legal Requirements: If required by a court order or request from a government authority.
25.3. Account Termination by BitPayd Sp. z o.o.
BitPayd Sp. z o.o. may permanently terminate your account and remove it from the service in
the following cases:
BitPayd Sp. z o.o. ceases offering services entirely.
You register an account on behalf of someone else.
You provide false, inaccurate, outdated, or incomplete information.
You refuse to accept any changes made to this Agreement.
You request termination of all services.
25.4. Account Closure and Data Retention
In the event your account is closed, transaction data required for legal compliance will be retained for five years. BitPayd Sp. z o.o. may also notify your counterparty in an unfinished transaction during account termination.
25.5. User-Initiated Account Deletion
The aforementioned termination process also applies to user-initiated account deletion (right to erasure under GDPR or similar regulations).
25.6. Funds on Hold
BitPayd Sp. z o.o. may place an administrative hold on your account and funds if it receives information suggesting stolen funds are in your account. The hold may remain in effect until the dispute is resolved and evidence provided to BitPayd Sp. z o.o.'s satisfaction. BitPayd Sp. z o.o. is not responsible for resolving such disputes and will not be a party to them. You acknowledge that any hold on your account and the inability to access funds during that time is not BitPayd Sp. z o.o.'s responsibility.
26. Agreement Modifications and Amendments 26.1. Right to Modify Agreement
BitPayd Sp. z o.o. reserves the right to update this Agreement at its sole discretion in response to changes in technology, standards, legislation, business practices, or the way services are
provided. Updates take effect when the new Agreement is posted on the website. The date listed in this section reflects the last time the Agreement was updated.
26.2. Retroactive Changes
To the extent permitted by law, we reserve the right to make retroactive changes. Any retroactive changes will take effect on the date this Agreement became legally binding (October 20, 2024). We will notify you in writing or by prominently displaying a notice on the website if we make significant changes to the Agreement.
26.3. User Acceptance
You agree to review the current version of the Agreement each time you use your BitPayd Sp. z o.o. account. Continued use of the platform or website through your account signifies your acceptance of the updated Agreement. If you don't accept the changes, you have the right to terminate this Agreement at any time. In this case, you must complete all active trades and obligations, close your account, and withdraw any remaining funds.
Current Version Last Updated: October 20, 2024 27. Contact and Feedback
27.1. Contacting BitPayd Sp. z o.o.
If you have any questions about this Agreement, please contact BitPayd Sp. z o.o.'s customer support team at [email protected].
27.2. Providing Information
When contacting us with feedback, questions, or complaints regarding your account or transactions, please provide identifying information such as your name, BitPayd Sp. z o.o. account ID, email address, and any other details that may help us identify you, your account, and the transaction in question.
27.3. Company and Regulatory Information
You can find more information about BitPayd Sp. z o.o. and its regulatory authorizations on the website.
27.4. AML/KYC Policy
The AML/KYC Policy is an integral part of these Terms and Conditions. By accepting the Terms and Conditions, you automatically agree to the AML/KYC Policy.