TERMS & CONDITIONS

Bitera prioritizes transparency and customer awareness by disclosing all terms of use. The said terms initiates an agreement between the user and the company (Hereinafter "Bitera"). The agreement applies to the use of this website, inclusive of its content, its products and services and all other creations under the company name Bitera.

Hereinafter, “Bitera” refers to the company Bitera Limited. The said name includes but isn't limited to, its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein.

By accepting the terms of use, the user claims to understand his/her responsibility to comply with laws and regulations applicable under his/her jurisdiction, while undertaking any association with Bitera, inclusive of its website, content, products, services and all other creations under the company name Bitera.

The user understands that if he/she DOES NOT ACCEPT these terms of use, he/she ought not to use any of Bitera's services, products and content.

1. Definitions

  1.1. Terms that are capitalized in this document shall be interpreted in accordance with the following definitions:

    1.1.1. Account: An account registered by the User on Bitera.

    1.1.2. Base Currency: The first symbol in a trading pair.

    1.1.3. Buyer: The User who submits an Order to buy Cryptocurrencies.

    1.1.4. Commission: A fee charged by or on behalf of any third party.

    1.1.5. Cryptocurrency: A peer-to-peer decentralized digital representation of value.

    1.1.6. Deposit: A transaction involving transfer of Funds from your personal wallet to the Bitera Wallet.

    1.1.7. Fiat currency: A government-issued currency that is designated as a legal tender in its country of issuance through government decree, regulation, or law.

    1.1.8. Funds: Cryptocurrency, Fiat currency.

    1.1.9. Order: User's instruction to buy or sell Cryptocurrency.

    1.1.10. Platform: An environment created by Bitera that allows the trade of Cryptocurrencies.

    1.1.11. Seller: The User who submits an Order to sell Cryptocurrencies.

    1.1.12. Services: All and any service provided by Bitera.

    1.1.13. Site: The Bitera website at https://www.Bitera.exchange.

    1.1.14. Transaction fee: A fee which is payable to Bitera for each Transaction process.

    1.1.15. Transaction:

      a.) Deposit Transaction: Transfer of Cryptocurrencies or Fiat currencies by the User to his/her Account.

      b) Trading Transaction: Transfer of Cryptocurrencies, Fiat currencies among the Users.

      c) Withdrawal Transaction: Withdrawal of Cryptocurrencies or Fiat currencies from his/her Account.

      d) Social Trading: Transactions undertaken as part of Bitera's trading feature.

     1.1.16. User: A person or an entity that uses the services, products or content and is a holder of an Account who agrees to accept the Terms of Use..

     1.1.17. Withdrawal: A Transaction involving a transfer of Funds from the User's Account to his/her bank account or to an account opened in any other financial institution.

   1.2. The words denoting singular, includes plural depending on the context and vice versa.

2. The scope of the services

   2.1. Bitera's scope of services involve all Users of the Platform to trade Cryptocurrencies with other Users, all services provided in connection with the Transaction, the use of Bitera’s Trading service, downloadable material from the Bitera website, real time information on currency conversion rates, tools for executing Transactions and any other content, services or features that Bitera may add in the future.

   2.2. The user's access to all the functions of the site is depended on his/her place of residence. The user is solely responsible to comply with the regulations and laws applied to Bitera's products and services under his/her jurisdiction.

  2.3. The user is aware that Bitera is only an intermediary in order to undertake transactions and that the trading actually occurs between him/her and another user.

  2.4. Specific Trading Provisions.

    2.4.1. Bitera prioritizes the user's investment strategy and provides detailed account information, trading history, values and volumes of various coins and more. Despite Bitera's efforts, users must at all times bear in mind the risk factors associated with such investments.

     2.4.2. Bitera will take responsibility of:

      a) Constantly updating the user about the details of their trading assessment and investment profile.

      b) Ensuring smooth operations in the trading services.

      c) Keeping the user informed of the resulting transactions VIA Bitera.

    2.4.3. The user understands that Bitera is authorized to limit or withhold user's trading services in accordance with Bitera's suitability and depending upon the user's investment profile.

    2.4.4. The user acknowledges that all transactions undertaken by the trader or an account are done automatically once initiated. The user hereby also acknowledges of the awareness of having the choice and discretion to stop, restrict, pause or limit the transaction VIA the site. Bitera is not liable to;

      a) Any loss arising due to the User's written or oral instructions,

      b) Any loss arising due to lack of reason for any decision made,

Terms and Conditions will waive or limit any rights that the User may have under any applicable laws which may not be waived or limited.

3. User's rights and responsibilities

  3.1. The user gets the right to access the site and avail its services as long as he/she agrees to the terms of use. By using the site, the user accepts to comply with the Terms of Use.

  3.2. The user has the right to scrutinize and understand the entire Terms of Use before deciding to access the site and any of the services provided by Bitera.

  3.3. The User understands the inexcusable importance to comply with any and all applicable laws and regulations related to the use of Bitera's services.

  3.4. The user is responsible to monitor meticulously all and any changes on his/her Account.

  3.5. In case of any unusual, suspicious or unclear changes in the user, account, he/she is responsible to inform about it, with immediate effect, to the Bitera team.

  3.6. The user acknowledges and understands that when a transaction is undertaken, the platform deals with not only fiat currency but also Cryptocurrency in order to send and receive to and from the buyer's and seller's accounts.

  3.7. It is the user responsibility to notify Bitera of an unauthorized use of account or password or if he/she suffered a breach of security by mail id's addressed as Bitera. The user understands the gravity of the security breach, and is well aware of the consequence of termination, in case of violation of the mentioned rules.

  3.8. Users are strictly prohibited from undertaking any criminal activity like money laundering, illegal gambling operations, financing of terrorist organizations, malicious hacking and other illegal activities applicable to the user's jurisdiction.

  3.9. The user must share responsibility for all damages and liabilities caused by third party rights violation or any other applicable laws.

  3.10. The Terms of Use does not exempt the user from the liability of user fraud, breach of terms applied due to operational law, user death or personal injury caused due to negligence.

  3.11. Users willingly undertake transactions with complete awareness of their personal goals, financial status and risk willingness.

  3.12. Users must ensure that all payment instruments, linked to the Bitera account, must be named after the account holder. Any other case would be considered as fraud.

4. The user's Representations and Warranties

  4.1. Registering an account is user’s expression of warranting that he/she:

    is compliant to the rules of the country he/she is accessing the website.

    Understands and accepts the Terms of Use.

    18 or above 18 years of age is legally entitled to accept the Terms of Use and make transactions.

    is in a stable physical and mental condition so as to take responsibility of his/her actions.

    is not a PEP or isn’t in a relationship with a politically exposed person. In case the above statement stands untrue, contact us on support@bitera.exchange to understand how to establish association.

    does not engage financially or otherwise in unlawful activities like drug trafficking, abduction, terrorist activity or any other activity that is considered criminal by relevant authorities.

    is compliant with all rules and regulative provisions provided under his/her jurisdiction.

    have verified that accepting the ‘use of services’ does not violate any regulations the jurisdiction applicable to them.

  4.2. The user warrants that he/she will use the Bitera Platform to undertake only those transactions that comply with the conditions set forth in these terms.

  4.3. The user warrants that all currencies – fiat or digital that are deposited in his/her account, belong to him/her, and are derived legally.

  4.4. The user represents that he/she will is solely responsible for withdrawals from his/her account to his/her wallet.

  4.5. The user represents that only lawful and legal transactions are being carried out by him/her.

5. Bitera's rights and responsibilities

  5.1. At any given time, if a user fails to meet Bitera’s benchmark of due fulfillment of Terms of Use, Bitera owns the right to invalidate user’s account and block the Cryptocurrency as well as Fiat Currency.

  5.2. Bitera remains responsible for meticulous functioning and service provision, while adhering to the Terms of Use.

  5.3. Bitera limits its responsibility to providing sufficient technical support for the transfer and receipt of Cryptocurrency. It further limits its responsibility to transfer the required technical data to a network, in the case that a user who is not Bitera, initiates Cryptocurrency transactions.

  5.4. Unless a loss is suffered due to a Breach of the Terms of Use by Bitera, Bitera is not responsible for any direct or indirect loss.

  5.5. In case of Internet breakdown or interruption or any other connection issues, Bitera is not responsible for the unavailability of the website.

  5.6. In case there is a delay in the transaction due to the fault of the operator or the third party, Bitera is not responsible for the same.

  5.7. Bitera is responsible to provide all the required information, at the request of relevant authorities, in case of Fraud. Users recognize that in such a case, their accounts may be frozen due to the request of an investigation authority.

  5.8. Bitera remains responsible for any fraud, death or personal injury caused by its own negligence or breach of terms.

6. Bitera representations and warranties

  6.1. In accordance with the Terms of Use, Bitera will ensure meticulous and skill-oriented service provision.

  6.2. Bitera pledges anonymity during the management of all buy and sell orders so as to ensure that the buyers and sellers aren’t of acquaintance. Only actual matched orders, consequential to participation of buyers and sellers in the bidding process, along with the applicable transaction fees, will be considered while calculating the transaction price.

  6.3. Bitera warrants that once placed, no buy orders or sell orders will be canceled or reversed.

7. Intellectual property rights

  7.1. Bitera claims all content on this Site as its own property, unless otherwise specified hereby. It is protected by copyright, patent, trademark and any other applicable laws.

  7.2. All the trademarks, trade names, service marks and logos of Bitera are the property of Bitera. The trademarks, trade names, service marks and logos of others used by Bitera, belong to the respective owners. Bitera also owns the software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this site. The content on this Site should not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, whether manual or automated. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use could result in applicable penalties.

8. User verification

  8.1. The ‘Know Your Customer’ verification procedure is applicable to every user. On refusal or failure of the necessary provision of documents and information, Bitera reserves the right to terminate all services for the user.

  8.2. The user recognizes his responsibility to ensure and thus undertakes that only the accurate and relevant documents, along with the personal information therein, are provided to Bitera. In the case that the above statement stands untrue, the user behavior will be considered fraudulent.

  8.3. Bitera is authorized to make enquiries in order to confirm the relevance and accuracy of the information and documents provided during the verification process.

9. Account maintenance

  9.1. The registration process obligates every user to provide only the current, accurate and complete personal information. On any change in the provided information, the user is obligated to update the same. Bitera ensures vigilance in maintaining security of the site and quality of its services.

  9.2. Only one account can be registered in the name of one user. All other accounts with the same name and personal information will be terminated.

  9.3. The user warrants that he/she will use only his/her account at any given time. The user will not access or assist others to obtain any unauthorized access of other accounts.

  9.4. Bitera withholds the right to levy amount limits for account funding or withdrawal.

  9.5. The user warrants confidentiality of information on his/her account as well as all transactions made VIA the account. In case of any suspicious activity from the user’s account, he/she must comply with Bitera’s investigation procedures and cooperate when Biter requests account termination.

  9.6. In case the user creates or uses any account without the express permission/validation of Bitera, all the respective accounts will be terminated with immediate effect. Any attempt to undertake such activity or assist any third party will also result in termination of the respective accounts. Further legal action may be taken against such users.

  9.7. If a registered user does not sign into his/her account for more than six months, Bitera considers the account abandoned. Abandoned accounts with zero balance would result in deactivation. Abandoned accounts containing any balance would be charged storage fee, applicable seven days after an email notification to the user.

10. Transactions

  10.1. All users are allowed to submit buy and sell orders with the intention of engaging in trading.

  10.2. The user warrants that he/she is aware of the consequence of initiating an order. He/she is mindful of the consequences of its execution. He/she understands that such an order cannot be canceled. Upon matching, the buying and selling order will be executed instantly, without any prior notice to the user.

  10.3. The user acknowledges that any error in the destination tag or address may result in loss of the deposits.

  10.4. Minimum and maximum order amount vary as per the trading pair.

  10.5. The user understands that delays may occur during deposit and withdrawal transactions, in the case of fiat currency involvement. The user acknowledges the awareness that certain bank verifications and checks may result in the delay, while the inherent nature of cryptocurrency networks may also contribute to it.

  10.6. Unverified users will be disallowed from carrying out any withdrawals.

  10.7. If and when the user notices unknown deposits, withdrawals, or any other suspicious activity occurring without the user’s awareness, the user is obliged to immediately notify the Bitera team ad comply and cooperate during its time of investigation. If the user fails to cooperate, Bitera reserves the right to freeze the account for the required time.

  10.8. In case a relevant authority like a bank or any other financial institution intervenes, Bitera will be forced to cancel or reverse an already executed withdrawal. The user is obligated to cooperate with Bitera under such circumstances.

11. Transaction fee

  11.1. The user expressly states that he/she would pay the transaction fee to Bitera for every completed transaction.

  11.2. The user must ensure to check the transaction fee prior to trading. Bitera reserves the right to change the transaction fee at any given time. Users will be updated in case of the above event.

  11.3. The transaction fee amount is charged in the currency given after the “/” symbol in any trading pair. E.g. For BTC/USD, the fee would inevitable be charged in USD.

  11.4. The minimum transaction fee equals to the minimum currency amount.

  11.5. The trade page will reflect the minimum and maximum price for each trading pair, along with the minimum and maximum order amount.

  11.6. For certain orders, the fee may not be displayed on the fee page, however users will be provided the same before the order is executed.

  11.7. All charges including the transaction fees can be changed and made effective at any point of time. Bitera reserves the right to update the same at its own discretion.

12. Illegal transactions

  12.1. User accounts can be terminated at any point, in case Bitera is forced to do so, to comply with the law of a relevant jurisdiction, government authority or a relevant body, in order to prevent the occurrence of financial crime.

  12.2. Bitera strictly forbids the use of our portal for illegal purposes. Any attempt at such activities will be reported to law authorities.

  12.3. The user warrants that he/she would not use Bitera’s services for any transactions involving money laundering, terrorist financing, proliferation of weapons of mass destruction, human trafficking, any other illegal goods; or for the publicity of anything illegal, drugs, narcotics or hallucinogens, illegal gambling services, archaeological findings, obscene or pornographic content and anything that results in violating human dignity;

13. Account security

  13.1. The user warrants confidentiality of information on his/her account as well as all transactions made VIA the account. In case of any suspicious activity from the user’s account, he/she must comply with Bitera’s investigation procedures and cooperate when Biter requests account termination.

  13.2. The user will never be asked to disclose his/her password, by any of the Bitera Team member. In case the user receives any message, or request that demands the user password, apart from the Bitera Website, the users must inform the company immediately.

  13.3. To ensure minimum risk of security breach, the user password must be changed regularly, preferably once every three to six months. The user is completely responsible for the security of this password and must ensure that it is complex enough to avoid any fraudulent user from receiving access.

  13.4. If any concerns about login details, or security features arises, the users must immediately change their password. In case of any suspicious activity from the user’s account, he/she must inform Bitera with immediate effect and comply with Bitera’s investigation procedures. In case of theft, misappropriation or unauthorized use, users are requested to cooperate when Bitera requests deactivation.

  13.5. Users are completely responsible to ensure the security of their mail accounts. The e-mails may contain reset passwords sent by Bitera. Only users must access their email accounts. Bitera is not liable for any losses resulting due to an email breach, due to user negligence. In case a user’s e-mail credentials are compromised, they are advised to inform the Bitera support team without undue delay.

  13.6. The user must remain aware that his/her login credentials are never stored by any browser, cached or otherwise. No functionality of any computer or network, public or private that allows login credentials to be stored must be used by the user.

  13.7. Users must enable Two-factor authentication/ OTP to make any Withdrawal Transactions.

14. Termination of the terms of use

  14.1. Only after the settlement of pending transactions, the users are allowed to close their account, thereby terminating the terms of use.

  14.2. The user acknowledges that at any given point, if Bitera finds any intellectual property rights or terms of use being misappropriated, Bitera may, at its sole discretion, terminate the respective user account post a notice. The said termination could also include prohibition of access to the site, its content, services and tools. It may involve taking technical and legal steps to keep the particular users off the site. In the case that users attempt to gain unauthorized access, overcome software security features, perform illegal activities, undertake fraudulent payments, fail to pay, law authorities request termination, Bitera will be compelled to terminate the respective user account at its discretion.

  14.3. If an unconfirmed account remains inactive for over six months, Bitera withholds the right to cancel or deactivate the account.

  14.4. Transaction fees and transfer amounts remain unaffected despite account suspension. The user is required to provide valid bank account details or cryptocurrency transfers to ensure smooth transfer of the due amount. Bitera will ensure complete transfer of due amount upon reception of the user request.

  14.5. The credit balance will be sent to the user’s account by Bitera as soon as possible. However in case of international transfers and transfers involving intermediaries, there may be respective deductions due to charges. Bitera will take reasonable efforts to ensure that these charges are disclosed to the user prior to the payment initiation however the user is aware that these charges remain unavoidable and cannot always be revealed in advance.

15. Services availability

  15.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.

  15.2. Despite Bitera’s constant efforts to keep the site up and running, certain disruptions may occur in case of internet disruptions or outages. Bitera is not liable for any such disruptions and the loss that any user may suffer due to it. Bitera does not guarantee the elimination of delays, failure, errors, omissions or loss of transmitted information.

  15.3. The user acknowledges that the site may need to be suspended in case of maintenance and a prior notice may not always be possible.

16. API, widgets and mobile applications

  16.1. All API requests will be limited to 600 requests per 10 minutes. In case the user exceeds this limit, it may result to the ban for 10 minutes.

  16.2 The users are free to use the Widgets provided by Bitera in their original, unaltered state.

  16.3. Bitera may provide mobile application for easier access to the user account. The use of the same will be subject to the Terms of Use.

17. Financial or legal advice

Bitera’s information on the price, volatility etc. about a cryptocurrency must not be misconstrued as financial or legal advice. Bitera does not provide any advice in connection with its service provision. The user warrants that any decision to buy or sell cryptocurrencies is the solely the user’s decision. Bitera is not liable for any losses suffered by the user due to the same.

18. Taxation

  18.1. All the taxes that the user may incur due to the use of Bitera’s services must be paid according to the relevant regulations.

  8.2. The user is solely responsible for any violation due to his/her negligence. Bitera is not liable for any such violations.

19. Notices and communication

  19.1. The user understands and acknowledges that Bitera reserves the right to communicate with the user with any communication mode available to Bitera.

  19.2. The user warrants his acceptance in receiving notices in electronic form.

20. Limitation of liability

In no event shall Bitera, its officers, directors, employees, agents, and all third party service providers be liable to the user or any other person or entity for any direct, indirect, incidental, special, punitive or consequential damages whatsoever, including any that may result from (i) accuracy, completeness or content of this site, (ii) accuracy, completeness or content of any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (iii) the services found at this site or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (iv) personal injury or property damage of any nature whatsoever, (v) third-party conduct of any nature whatsoever, (vi) any unauthorized access to or use of our servers and/or any and all content, personal information, financial information or other information and data stored therein, (vii) any interruption or cessation of services to or from this site or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (viii) any viruses, worms, bugs, trojan horses or the like, which may be transmitted to or from this site or any sites linked (through hyperlinks, banner advertising or otherwise) to this site, (ix) any user content or content that is defamatory, harassing, abusive, harmful to minors or any protected class, pornographic, “x-rated”, obscene or otherwise objectionable and/ or (x) any loss or damage of any kind incurred as a result of the user's use of this site or the services found at this site, whether based on warranty, contract, tort or any other legal or equitable theory and whether or not Bitera is advised of the possibility of such damages. In addition, you specifically acknowledge and agree that any cause of action arising out of or related to this site or the services found at this site must be commenced within one (1) year after the cause of action accrues, otherwise such cause of action shall be permanently barred. In addition, the user specifically acknowledges and agrees that in no event shall Bitera’s total aggregate liability exceed the total amount paid by the user for the particular services that are the subject of the cause of action. The foregoing limitation of liability shall apply to the fullest extent permitted by law and shall survive any termination or expiration of this agreement or the user's use of this site or the services found at this site.

21. Indemnity

The user ensures to protect Bitera and its personnel from any liability by taking full responsibility of (i) the user's use of the site and its services. (ii) the user's violation of the terms of use. (iii) the user's violation of any third party right, inclusive of intellectual property rights or other proprietary rights. The indemnification obligation under this section would outlive all termination or invalidation of the Terms of Use.

22. Modifications and amendments

The user acknowledges and accepts that Bitera witholds the right to amend any portion in the terms of use. The changes would come into immediate effect and be accepted by the user, as soon as a revised version will be published on the site. In the case that a user does not agree with such an amendment, he she may terminate the use of services and close his/her account. The user is solely responsible for any losses he/she may incur due to such amendments.

23. Force majeure

Bitera is exempted from all responsibility toward the user in case of uncontrollable factors involving force majeure, change of law or sanctions policy or other any events. Bitera's responsibilities will be exempted for a time period coincidental with the said event.

24. Links to third-party websites

Bitera holds no responsibility for the links to third party websites that maybe found within the site and its services. Bitera is exempt from any liability arising out of the content, terms and conditions, privacy policies or practices of such third-party websites. The user expressly releases Bitera from any and all liability arising out of the his/her use of a third party website.


RISK WARNING

The users are hereby informed that all investments with Bitera are high risk investments and may involve whole or part loss of capital. The user investment is in no way protected as it is in MiFID regulted investment services. Bitera is exempted from all liabilities towards any entity or individual for losses consequential to cryptocurrency transactions or any other direct, indirect or incidental damages.