Terms and Conditions
 

 

 

1.Our Service

1.1 We Currently do not sell Bitcoins on this website.

2. How trading with us works

2.5 You must follow the procedures in section 3 exactly in order to pay for your Trade.

2.6 We reserve the right to reject your Trade if you:

Selling Bitcoins

You must carefully check and confirm the bitcoin public address which we provide to you.  You will send the bitcoin to this bitcoin public address only.

You must confirm your mobile phone number by SMS authentication or phone authentication.

Once you have placed the Order, you must transfer the bitcoin for the Order in to the public address we nominate.

You must ensure you send your bitcoin within the ‘valid for’ time specified on the Order confirmation page. the default ‘valid for’ time is 30 minutes.

We have no obligation to fulfil the Order if the Bitcoin is not received within the specified time.  If we choose not to fulfil an order then we will refund the bitcoin for the Order to you in full.

It may take between 1 to 3 business days to sell your bitcoins.

Once we compleate sell order then We will transfer LKR to the bank account that you provide in the Order form .

 

3. Payment methods

    provide your Sri Lankan mobile phone number (current and working); and

    We may relax or waive these verification requirements for repeat customers.

    4. Appointment as your agent

      a) We sell Bitcoins on your behalf; and

      b) at the best price that we can obtain through the bitcoin exchanges we use.

    4.4 The price quoted in our advertisements is based on the current average price across the various bitcoin exchanges we use to acquire bitcoin for you. It takes into account fluctuations in the prices quoted on those exchanges as well as (where relevant) the exchange rate between USD and the other fiat currencies used by those exchanges.

    4.5 From time to time, variations in the price offered on a bitcoin exchange may result in the actual price of the bitcoin that we acquire being higher or lower than the agreed price set out in your Trade. However, incase of difficult situations we may refund your money back and cancel order.

      a) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is higher than($30) the agreed price in the Trade, we may not bear the cost of this difference.

      b) If the price we pay on a bitcoin exchange to acquire bitcoin on your behalf is lower than the agreed price in the Trade, you authorise us to retain the difference.

    4.7 We retain full discretion to choose where to acquire the bitcoin for your Trade.

    4.8 We confirm and warrant that we do not act as agent for any bitcoin exchange or bitcoin seller or accept any commission or other form or remuneration from any bitcoin exchange or bitcoin seller.

    5. Our Fees

    5.1 We charge you a fee (Commission) which is a fixed percentage of the LKR value of your Trade, which you must pay at the same time as payment for your Trade.

    5.2 The Commission will be confirmed before you are required to pay for your Trade.

    5.4 We make no representation or warranty as to whether or not the bitcoin that you have acquired is a creditable acquisition for Goods and Services Tax.

    5.5 We are not required to confirm the identity of the seller of the bitcoin.

    6. Your personal information

    6.1 We reserve the right to require you to confirm your identity before fulfilling your Trade.

    6.2 We will only collect and use your personal information in order to confirm your identity, and we will not use your personal information for any other purpose. We may store your personal information in a secure encrypted form for our records.

    6.3 We will never disclose your personal information to any third parties (apart from our employees, officers and related entities) unless required to do so by law.

    7. Limitation of liability

    7.1 Apart from the matters set out in these Terms, we do not control any aspect of the Website and we are not responsible for any loss you suffer including but not limited to:

      a) as a result of you failing to deposit, or a bank failing to process, payment for your Trade within the specified timeframe, or you providing incorrect account details in making a payment; and

      b) any problems with the Website including loss of control of your bitcoin wallet or account with the Website for any reason.

    8. Representations

    8.1 If you agree to these Terms you represent to us that you:

      a) are 18 years old or older; and

      b) are capable of entering into a legally binding agreement.

    8.2 You also represent and warrant that:

      a) all information you have provided to us is correct and current;

      b) you have the power and authority necessary to enter into the agreement formed under these Terms and to perform the acts required under these Terms; and

      c) you have complied and will continue to comply with all applicable laws, statutes, ordinances, and regulations (including without limitation anti-spam laws and any relevant data protection or privacy laws).

       

      9. Risks of acquiring, holding and using bitcoin

      9.1       You acknowledge and accept that:

      1. a)              bitcoin is not recognised legal tender in Sri Lanka and other countries and that digital currency is not regulated by any central institution and maybe subject to extreme price volatility;
      2. b)              you understand the risks involved with digital currencies;
      3. c)              you are responsible to protect your bitcoins, wallet, computer, software bank account, address and personal data against any theft, fraud or illegal activity;
      4. d)              all concluded transactions are irreversible;
      5. e)              you have had the opportunity to obtain independent legal and financial advice about the risks associated with buying bitcoins; and
      6. f)               trading currency involves risk, especially through price fluctuation.

       

 
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