Last Updated: November 14, 2017
1. USER INFORMATION
1.1 Eligibility. By using the Services, you represent and warrant that you (a) are of legal age to form a binding contract; (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are under the control of, or a national or resident of any country to which the United States has embargoed goods or services; (e) have not been identified as a “Specially Designated National” by the U.S. Office of Foreign Assets Control; and (f) have not been placed on the U.S. Department of Commerce’s Denied Persons List. If you are using the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf.
1.2 Account. In order to use our Services, you must create an account with Coinme before completing a transaction. If you create an account, you agree to: (a) provide accurate, truthful, and current information when creating an account or using our Services; (b) use your account and the Services only for yourself, not to share access with others, and not conduct transactions for others; and (c) promptly notify us if you discover or otherwise suspect any security breaches or misuse related to your account.
1.4 Personal Information and Identity Verification. Prior to your use of the Services, you must provide all information requested by Coinme, which may include, but not be limited to, name, address, social security number, driver’s license or Government-issued ID scans, and photographic images (“Personal Information”). You acknowledge that Coinme will analyze and validate your identity by reference to the Personal Information to determine whether you qualify to use the Services (“Verification Process”). Coinme uses a third party service to assist it in the Verification Process, and disclaims responsibility for any loss, delay or other harm relating to the Verification Process. Your use of the Services may be delayed during the Verification Process. If your Personal Information does not pass the Verification Process, or if you fail to provide any of the Personal Information required to access the Services, you will be denied access to the Services. If you believe your access to the Services has been wrongly denied, please contact email@example.com.
2. VIRTUAL CURRENCY WALLET SERVICES
When you use our services, virtual currency that you store with us, that you sell in exchange for U.S. dollars, or that you purchase from us is stored in a custodial virtual currency wallet that is managed by Coinme. Coinme holds the private key that is associated with this wallet, which is necessary to send virtual currency from the wallet to an external virtual currency address. We will provide you with a unique virtual currency address associated with the Coinme custodial wallet to which you can send virtual currency that you wish to store or sell using our service.
2.1. Withdrawals of Virtual Currency. In order to withdraw virtual currency that you purchased or stored using the Coinme service, you may access your account and using Coinme’s online tools on our website or speaking directly with our agents. When you withdraw virtual currency from or deposit virtual currency to the Coinme custodial wallet, your transactions are public; as they are confirmed via public ledger using the distributed consensus network for that virtual currency (e.g., the Bitcoin Network or Blockchain).
2.2. Deposits of Virtual Currency. Before you can sell virtual currency from your Coinme account, all deposits of such virtual currency to the Coinme custodial wallet must have been confirmed on the public ledger for that virtual currency.
2.3. No Control Over Public Distributed Consensus Networks. Because the public distributed consensus networks that are used to confirm transactions of your virtual currency are decentralized networks of independent third-parties, Coinme has no control over them, and therefore cannot and does not ensure that any deposit to or withdrawal from the Coinme custodial wallet will be confirmed on these networks. You acknowledge and agree that the deposit and withdrawal requests you submit via the Services may not be completed, or may be substantially delayed, by the distributed consensus network for that virtual currency. When you complete a transaction request via the Services, you authorize us to submit your transaction request to the distributed consensus network in accordance with the instructions you provide via the Services.
2.4. Limitations. Coinme imposes limits on the amount of virtual currency that you can buy, sell, or withdraw using the Services in any single day. Coinme, in its sole discretion, may change the limitations as it deems necessary or appropriate from time to time.
2.5. No Cancellations or Modifications. Once a transaction to withdraw virtual currency from your account to an external virtual currency address has been submitted to the public distributed consensus network for that virtual currency via the Services, you will not be able to cancel or otherwise modify your transaction request. Coinme has no ability to facilitate any cancellation or modification requests. As
a result, all withdrawal requests initiated via the Services are irreversible.
3. PURCHASE AND SALE ORDERS
The following terms apply to any purchase or sale of virtual currency through Coinme’s Services:
3.1. Order Information. You must provide all information requested by Coinme in connection with any order for the purchase or sale of virtual currency (each, an “Order”), including: (a) for purchase Orders, the amount of U.S. dollars you intend to spend in connection with the purchase and the virtual currency wallet address (or “address”) to which Coinme will send the virtual currency you purchase; and (b) for sales Orders, the amount of virtual currency you intend to sell. You are solely responsible for the accuracy of any Order information you submit to Coinme.
3.2. Offer Terms. When you place an Order for the purchase or sale with Coinme, you will be
provided the terms and conditions for purchase or sale of the virtual currency (“Offer Terms”), which will include: (i) the exchange rate for the virtual currency you intend to purchase or sell at the time of the Order, and (ii) the fees that will be charged by Coinme to complete the Order, as further described in Section 4 below.
3.3. Order Completion. In order to accept Coinme’s offer to purchase or sell virtual currency, you must satisfy any terms and conditions stated in the Offer Terms, including without limitation, by fulfilling the requirements outlined below. (a) Purchase Order Completion. To complete your purchase of virtual currency from Coinme in accordance with the applicable Offer Terms, you must pay Coinme via wire transfer or ACH, whereupon receipt of such payment Coinme will credit you the amount of virtual currency calculated by the exchange rate at the time of the completion of transaction to your account within our hosted virtual currency wallet. Once your purchase is complete, you will be able to log into our service and transfer the
virtual currency credited to you to an external virtual currency address of your choice. (b) Sale Order Completion. To complete your sale of virtual currency to Coinme in accordance with the
applicable Offer Terms, the following must occur: (i) you must send virtual currency to the virtual
currency address associated with your account in our hosted wallet, (ii) you can then use our Services to sell virtual currency from your account to Coinme, whereupon Coinme will send funds via wire or ACH in the amount of U.S. dollars, calculated by the exchange rate at the time the Order was completed. You may only sell as much virtual currency as you have credited to your account at any given time in our hosted virtual currency wallet.
3.4. Estimated Delivery. For purchase transactions, Coinme will endeavor to send virtual currency to your designated address within a reasonable timeframe, but cannot guarantee that the virtual currency will be transmitted to your address within any specific timeframe. Furthermore, because the exchange rate for the virtual currency you intend to purchase or sell will be determined at the time of the completion of the Order, the amount of virtual currency that is transmitted to your address may be different than the amount estimated in the Offer Terms. For sales transactions, Coinme will dispense U.S. dollars to you via wire or ACH after it has confirmed receipt of the virtual currency that you sent to Coinme’s wallet address, calculated by the exchange rate at the time the Order was completed.
3.5. Funds Sources Accepted. The Web Portal will accept debit, credit, ACH, and wire transactions for virtual currency purchases.
3.6. Conditions and Restrictions. We may, at any time and in our sole discretion, refuse or reject any Order, impose limits on the Order amount permitted, or impose other conditions or restrictions upon your Order without prior notice. For instance, we may refuse to execute your Order if you are a resident of a state where we do not engage in purchase or sale transactions, or we may refuse to execute your Order if the amount of the Order exceeds certain daily limits.
3.7. Taxes. It is your responsibility to determine what, if any, transactions you complete using the Services, and any profit or loss you obtain therefrom. You are responsible for any sales, use, value-added, or similar transfer taxes that are imposed in connection with the Service. We reserve the right to collect or recover such taxes from you at any time where required or permitted.
4.1. Amount of Fees. You agree to pay Coinme the fees for transactions completed via our Services (“Fees”) as provided in the Offer Terms. You further agree that Coinme may deduct its fees from the amount of U.S. dollars dispensed or virtual currency sent to you.
5. CANCELLATIONS; REFUNDS
6. ACCEPTABLE USE
By accessing and using our Services, you agree that you will not violate any law, contract, intellectual property or other third-party right, or commit a tort, and that you are solely responsible for your conduct while using our Services. You further agree that you will abide by these Terms and will not:
· Use our Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner, including any physical damage or defacement of Coinme’s virtual or physical property;
· Use our Services to pay for, support, or otherwise engage in any illegal activities, including, but not limited to illegal gambling; illegally acquired music, movies or other content; pyramid schemes; sexually-oriented materials or services; fraud; money-laundering; terrorist financing; or the purchase or sale of illegal or controlled substances.
· Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us to access our Services or to extract data;
· Use any hardware or software to bypass, disable, or interfere with the Services, or the Verification Process;
· Use or attempt to use another user’s account without authorization;
· Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;
· Develop or deploy any third-party applications, software, or hardware that interact with our Services without our prior written consent;
· Provide false, inaccurate, or misleading information; and
7. ASSUMPTION OF RISK
You acknowledge and agree that there are risks associated with utilizing the Services for the purchase and sale of virtual currency including, but not limited to, the risk of failure of hardware, software and Internet connections, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to your Personal Information and other information stored with us. You acknowledge and agree that Coinme will not be responsible for any communication failures, disruptions,
errors, distortions or delays you may experience when using the Services, however caused.
Coinme takes no responsibility for and will not be liable for any losses, damages or claims arising from the use of our Services, including, but not limited to, any losses, damages or claims arising from (a) loss of your virtual currency due to unauthorized completion of an Order by a third party, including but not limited to unauthorized completion resulting from you leaving your information unattended before, during, or after completing a transaction, (b) server failure or data loss, (c) incorrectly constructed transactions or mistyped wallet address; (d) "phishing," viruses, third-party attacks, or any other unauthorized third-party activities, or (e) any unauthorized access to our Services via your computer or
mobile device. Coinme does not guarantee the value of any virtual currency. You acknowledge and understand that the price or value of virtual currency is highly volatile. Virtual currency sales via the Services depend on the
availability of virtual currency to Coinme, and you acknowledge that it may be impossible to buy or sell virtual currency at any price through the Services.
EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.
Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumers, so some or all of the disclaimers in this section may not apply to you.
9. LIMITATION OF LIABILITY
Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the limitations of this section may not apply to you.
You agree to defend, indemnify, and hold harmless Coinme (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost, or
11. APPLICABLE LAW; ARBITRATION
PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.
ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL. You and Coinme agree to notify each other in writing of any dispute within thirty (30) days of when it arises. Notice to Coinme shall be sent to firstname.lastname@example.org. You and Coinme further agree: (a) to attempt informal
resolution prior to any demand for arbitration; (b) that any arbitration will occur in Seattle, Washington;
(c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of JAMS; and (d) that the state or federal courts in the state of Washington, King County, have exclusive
IN COURT, YOU AND COINME WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.
Notwithstanding anything to the contrary herein, Coinme reserves the right, without notice and in its sole discretion, to terminate your permission to use the Services, and to block or prevent your future access to and use of the Services.