Terms of Conditions
Terms and Conditions
- General Terms
As used herein, “Digital Assets” means Bitcoin, Ether, and other mathematically-based or cryptographic protocols that are network-based and are a medium of exchange that (i) may be centralized or decentralized (but not issued by a sovereign entity) , (ii) allow for borderless transfer-of-ownership, and (iii) may be used to buy goods and services.
- Acceptance of Agreement
- Description of Services
The website https://ibtc.com.hk allows users to conveniently make online fiat-to-Digital Asset, Digital Asset-to-fiat and Digital Asset-to-Digital Asset exchange operations. Following your opening of an account on ibtc. com.hk and completing the identity verification procedure, you will be able to exchange any supported fiat currency or Digital Asset from us, in exchange for other supported Digital Assets or fiat currencies, namely HKD, USD or any other supported government-issued currency, that is designated as legal tender in its country of issuance through government regulation or law.
For self services trading, you deposit fiat currency or Digital Assets to us, the balance would be reflected at our website after we confirmed the receipt of funds; you complete the trading at our website and withdraw the balance at our website if needed.
By provisioning the Digital Asset wallet address, you acknowledge the ownership of it. You are solely responsible for maintaining and controlling your Digital Asset wallet. Make sure to keep secret the access credentials to your Digital Asset wallet, otherwise you can permanently lose your Digital Assets . ibtc.com.hk has no liability for any operation or failure of your Digital Asset wallet.
You hereby understand and agree that any price or rate of any supported Digital Asset which appears on the website is accurate for that moment alone, due to the highly volatile nature of the price of Digital Assets and the period of time required for completing the transaction.
- Eligibility Criteria
- Exchange Operations and Orders Processing
You agree that once you have transferred fiat currency or Digital Assets to us, you could not cancel the order.
IBTC reserves the right to reject or cancel Orders made and/or pending during downtime. Certain deposit or withdrawal requests for both Digital Assets and fiat currencies may not be processed outside of normal banking hours. Orders may be subject to delays, difficulties, and/ or conditions affecting transmission or execution of Orders over which IBTC has no control, including but not limited to, mechanical or electronic failure or market congestion. We are not liable for any delays, difficulties or conditions adversely affecting transmission or execution of Orders. IBTC shall not be liable for any refunds as a result of the technical issues outlined above
- Account Registration
At registration, the user has to state an mobile phone as a username and choose a secure password. By opening an account to use the services, you expressly represent and warrant that you:
- are a resident in an area that permits the use and exchange of Digital Assets;
- are not using the services on behalf of any third party.
You are solely responsible for maintaining the confidentiality of the information you hold for your registered ibtc.com.hk account, inclusive of your password, and for any and all activity that occurs under your account as a result of your failing to keep this information secure and confidential. You agree to notify ibtc.com.hk immediately of any unauthorized use of your account or password, or any other breach of security.
Only one person may use an account to access the ibtc.com.hk services. Using multiple accounts for any malicious activity will result in immediate account termination. The administration of ibtc.com.hk reserves the right to terminate any user account without prior notice . You can also register using your social network account. Any person whose account or access through which has been suspended or terminated by us or any person who has been banned or removed from any ibtc.com.hk services may not access the services in any manner or for any reason, including through any other account. In compliance with AML/KYC Policy, ibtc.com.hk reserves the right to refuse registration to persons from jurisdictions that do not meet international AML or KYC standards.
- Funds and Deposits
You agreed, represent and warrant that no funds transferred to us, either in Fiat Currencies or Digital Assets, are the direct or indirect proceeds of any criminal or fraudulent activity.
All Fiat Deposits must be used to purchase Digital Assets.
Users must set up multi-factor authentications in order to withdraw fiat currencies or Digital Assets from iBTC. When users submit withdraw request on ibtc, users needs to provide a onetime passcode from the SMS to the user register phone number and a onetime passcode from a two-factor authentication (“2FA”) application. If you choose to install and use a 2FA application on a device (eg, phone or tablet) on which the operating system has been tampered with in any way, you do so at your own risk. This includes, but is not limited to, a “rooted” (Android) or “jailbroken” (iOS) device. We reserve the right in our sole discretion to prohibit access from or by any device on which the operating system has been or is suspected of having been modified or tampered with. We may provide your 2FA data to a third party service provider in order to help us authenticate you. Your User Account login credentials and forms of multi-factor authentication, where applicable, have been chosen by you and all ow you to access IBTC and the services we provide. You, therefore, agree to keep your User Account login credentials and forms of multi-factor authentication confidential and separate from each other, as well as separate from any other information or documents relating to the associated IBTC Account. You also agree to be solely responsible for maintaining the security of your User Account login credentials and forms of multi-factor authentication. Unfortunately, we cannot be responsible for any unauthorized use of your User Account or any other accounts associated with the same IBTC Account.
It is ibtc's policy to prohibit and implement preventative measures against money laundering and any activity that facilitates terrorism financing or criminal activities. ibtc.com.hk is subject to regulation of anti-money laundering (AML) and customer due diligence (CDD) policies as set out in all legislation as applicable.
ibtc.com.hk reserves the right to carry out ibtc.com.hk account-holder due diligence verification of registered users and their transactions. Enhanced ibtc.com.hk account-holder review may be carried out periodically at our sole discretion based on our ongoing risk assessment controls. ibtc.com.hk will verify your identity through the documentary means and/or non-documentary means furnished by you to ibtc.com.hk upon registering for a ibtc.com.hk account. ibtc.com. hk reserves the right to use non-documentary means where necessary to verify the true identity of the ibtc.com.hk account-holder.
To fully complete all verification procedures on ibtc.com.hk, the user has to comply with mandatory verification requirements according to AML/KYC Policy and state the following information:
- Personal phone number.
- First name and last name.
- Date of birth.
- Passport/ ID Number
- Scanned copies (front sides) of your government-issued proof of identity (national passport or international passport or driver license or national identity card), which contains user's first name and last name; date of birth; gender; place of birth; date of birth; issuing country; user's photo; ID serial number and date of issue.
- A scanned copy(ies) of a valid proof of address document (a bank or payment card statement, utility or electricity bill, tax return, council tax or any other official document with current residential address, first name and last name and issued within the last 3 months.
- Scanned copies (front and back sides) of a payment (bank) card with a cardholder's signature on the back side of the payment (bank) card.
- A “selfie” of a user holding a white piece of paper with the text “IBTC”, the current date and valid login information for accessing the ibtc.com.hk website.
ibtc.com.hk accepts scanned copies of your documents only if all the information contained therein is provided with Latin transliteration.
In compliance with mandatory AML and KYC regulatory requirements, ibtc.com.hk has devised and implemented the verification tiers, which govern the purchase limits at the ibtc.com.hk website.
The purchase limits and verification tiers are being reviewed and updated throughout the entire period of customer lifecycle stages in connection with a particular user account. ibtc.com.hk reserves the right to monitor the website accounts for activity involving unusual transaction sizes, volumes, patterns or types and ibtc.com.hk may in its sole discretion conduct further investigations in this respect. ibtc.com.hk may from time to time temporarily reject customers from some countries/territories. This can be because of legal issues or AML/KYC Policy or technical reasons or other temporary reason.
- Account Termination by User
You may terminate your user account at any time by submitting your request to terminate your user account at [email protected]. Your request will be executed within 24 hours after its submission. No termination fee shall apply, except that you will be responsible for fulfilling any outstanding payment obligations to ibtc existing as of the effective date of termination and to settle any pending transactions. We reserve the right to suspend any pending transactions at the time of cancelation.
- Links to Other Websites
Our services may contain links to third-party websites or services that are not owned or controlled by btc.com.hk. btc.com.hk has no control over, and assumes no responsibility for the content, privacy policies, or practices of any third-party websites or services. We do not warrant the offerings of any of these entities/individuals or their websites.
You acknowledge and agree that ibtc.com.hk shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services available on or through any such third-party websites or services. We strongly advise you to read the terms and conditions and privacy policies of any third-party websites or services that you visit.
You understand and agree that all communication with you will be via electronic communication, that we consider the mobile number you have provided to be your primary means for electronic communication and we will use this mobile number to provide you with account-related notices and Order Receipts . We may also use this mobile number for other communications, including notices regarding this Agreement, your User Account, and the associated IBTC Account. Change of mobile number Policy, for security purposes, should a verified user wish to change his/her mobile number , he/she must make such request by mobile number and schedule a video conference with our compliance officer. Delivery of any notice to the mobile number on record with your User Account or the associated IBTC Account will be considered valid. If any mobile number is returned as undeliverable, we retain the right to block access to your User Account and the associated IBTC Account until you provide and confirm a new mobile n umber.
Our transaction fees include but not limited to trading commission, fees for deposits and withdrawals, ICO handling charges. No additional fee is charged except for any possible service charge of handling in person. We reserve the right to change, modify or increase our Fees at any time. Any change to the Fees, including adjustments to any of the tiers or rates, will be effective without any notice. Your use of IBTC following any update to our Fees is considered to be your acceptance of any such changes. You agree to pay all Fees associated with or incurred by your IBTC Account, the Orders you enter into, and the services you receive.
You agree to defend, indemnify and hold harmless Ibtc.com.hk and its licensee and licensors, employees, contractors, agents, officers and directors, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees), resulting from or arising out of a) your use and access of the services, or b) a breach of these Terms.
Ibtc.com.hk reserves the right to assume the exclusive defense and control of any matter subject to indemnification by you, and you will not in any event settle any claim without the prior written consent of Ibtc.com.hk.
- LIMITATION OF LIABILITY
UNDER NO CIRCUMSTANCES SHALL IBTC.COM.HK OR ANY OF ITS PREDECESSORS, SUCCESSORS, PARENTS, SUBSIDIARIES, AFFILIATES, OFFICERS, DIRECTORS, SHAREHOLDERS, INVESTORS, EMPLOYEES, AGENTS, REPRESENTATIVES, ATTORNEYS AND THEIR RESPECTIVE HEIRS, DAMAGES, INCLUDING DIRECT, INCIDENTAL, PUNITIVE, SPECIAL, CONSEQUENTIAL OR EXEMPLARY DAMAGES THAT DIRECTLY OR INDIRECTLY RESULT FROM THE USE OF, OR THE INABILITY TO USE, THIS SITE OR THE SITE MATERIALS OR OBTAINED FROM YOUR USE OF THIS SITE, INCLUDING TO HAVE BEEN OBTAINED FROM THE SITE, EVEN IF COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL COMPANY'S OR ANY OF ITS PREDECESSORS', SUCCESSORS' PARENTS', SUBSIDIARIES', AFFILIATES', OFFICERS', DIRECTORS', SHAREHOLDERS', INVESTORS', EMPLOYEES', AGENTS', REPRESENTATIVES' AND ATTORNEYS' AND THEIR RESPECTIVE HEIRS', SUCCESSORS' AND ASSIGNS' TOTAL LIABILITY TO YOU FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION WHETHER IN C ONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE) OR OTHERWISE EXCEED THE AMOUNT YOU PAID FOR USE OF THE SITE. SOME JURISDICTIONS MAY NOT ALLOW THE EXCLUSION OF IMPLIED WARRANTIES IN WHICH CASE SOME OF THE ABOVE EXCLUSIONS MAY NOT APPLY TO ALL USERS . FOR THE AVOIDANCE OF DOUBT, WE BEAR NO RESPONSIBILITY FOR THIRD PARTY TRANSACTIONS. ANY CLAIMS REGARDING SUCH THIRD PARTY TRANSACTIONS SHALL BE DIRECTED TO THE RELEVANT THIRD PARTY ONLY.
- Site Content
Unless otherwise indicated, all of the content displayed on ibtc.com.hk, including, but not limited to, any and all text, graphics, data, images, illustrations, sound, video, audio, software, and the selection and arrangement of these items, are owned by ibtc.com.hk or its licensors and protected by copyright, trademark, trade dress, or other intellectual property rights.
- Copyright and Intellectual Property
All rights, save as expressly granted, are reserved. Reproduction in any form of any part of the contents of this website without our prior written consent is prohibited unless for personal use only. The copyright in all materials provided on this web is held by Ibtc .com.hk or by the original creator of the material. Except as stated herein, none of the materials may be copied, reproduced, distributed, republished, downloaded, displayed, posted or transmitted in any form or by any means, including, but not limited to, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission from us or the copyright owner. Permission is granted to download one copy of the materials on this Site on a single computer for your personal or internal business use only provided that you do not modify the materials and that you retain all copyright and other proprietary notices contained in the materials. This permission terminates immediately if you breach these Terms. You may not “mirror” any material contained on this Site without our express written permission. Any unauthorized use of the materials contained on this Site may violate copyright laws, trademark laws, the laws of privacy and publicity and/or communications regulations and statutes. All content and functionality on this website, including text, graphics, logos, icons, and images and the selection and arrangement thereof, are the exclusive property of Ibtc.com.hk or its licensors and is protected by Estonian and international copyright laws. All rights not expressly granted are reserved.
Using our content does not give you ownership of any intellectual property (“IP”) rights in the content you access. You may not infringe the IP rights associated with any content. This does not restrict you from obtaining express permission from its owner or as otherwise permitted by law. These Terms do not grant you the right to use any branding or logos found in our content. Do not remove, obscure, or alter any legal notices displayed in or along with our content. Unless otherwise notified at the time of access and as referred to above, Ibtc.com.hk does not and cannot offer any license or use in the content you locate on our https://Ibtc.com.hk/ or any of our databases.
You acknowledge that online exchange services carry significant risk. Prices can fluctuate on any given day. Due to price fluctuations, any related Digital Assets may gain or lose value at any time.
You acknowledge and agree that ibtc.com.hk does not act as a financial advisor, does not provide investment advice services and/or any communication between you and ibtc.com.hk cannot be considered as an investment advice. You represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the transaction. We give you no warranty as to the suitability of the services and assume no fiduciary duty in our relations with you.
- No Refund Policy
Unless otherwise specified, all exchange operations made by platform users on the ibtc.com.hk website are final and non-refundable.
- Disclaimer of Warranties
THE WEBSITE AND ALL SITE MATERIALS THEREON ARE DISTRIBUTED ON AN “AS IS” BASIS WITHOUT WARRANTIES OF ANY KIND. TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW, COMPANY DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT. SPECIFICALLY, BUT WITHOUT LIMITATION, WE DO NOT WARRANT THAT: (1) THE INFORMATION ON THIS SITE IS CORRECT, ACCURATE OR RELIABLE; (2) THE FUNCTIONS CONTAINED ON THIS SITE WILL BE UNINTERRUPTED OR ERROR-FREE; OR (3) DEFECTS WILL BE CORRECTED, OR THAT THIS SITE OR THE SERVER THAT MAKES IT AVAILABLE IS FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. YOU HEREBY ACKNOWLEDGE THAT USE OF THE SITE IS AT YOUR SOLE RISK .
- Dispute Resolution
Both ibtc.com.hk and the user agree that any disputes arising between the two parties shall be initially attempted to be resolved by contacting the other party. In such cases, the user shall contact ibtc.com.hk by sending an email to support @ ibtc.com.hk, and ibtc.com.hk shall contact the user via the email that was used for registration or any other information that the user provided in his/her account.
Upon any dispute or claim arising under the terms, obligations, or promises under these Terms or any additional agreements, you agree to work with Ibtc.com.hk to resolve the dispute privately or through mediation before a mutually agreed upon mediator. If mediation fails to produce a mutually agreeable outcome, then you agree to binding arbitration. Arbitration will be before a single arbitrator that you choose from a list of three arbitrators provided by us. Arbitration will be performed under the rules adopted by the Hong Kong International Arbitration Centre at the time a claim is filed with an arbitrator. Arbitration will take place in Hong Kong. An arbitration judgment may be entered into and enforced by a court of competent jurisdiction, which judgment may include the costs and attorneys' fees for the prevailing party at arbitration .