TERMS OF SERVICES

 Last updated: 16.1.2018

  1. GENERAL TERMS AND ACCEPTANCE

1.1.  Welcome to Bits of Gold's website (the "Website"), managed by Bits of Gold Ltd. And/or any of its subsidiaries ("Bits of Gold" or "Company" or "Service Provider"). Bits of Gold provides services for the purchase and sale of Digital Coins (as defined below) (the "Services”). Your registration to the use of the Services through the Website and/or the use of the Services constitutes your complete and irrevocable acceptance of, and agreement to be bound by, these Terms of Services and to the Privacy Policy. Please take time to review these Terms of Service carefully prior to registering to the Services and sharing your registration information. Each time you log onto the Website and/or use the Services, you completely and irrevocably accept and agree to these Terms of Services and Privacy Policy, as they may be in effect at that time.

For the avoidance of doubt, these Terms of Service may be subject to changes without prior notice.

1.2.  In this Agreement, you and Bits of Gold are each a Party. You may also be referred to in these Terms of Service as a "User" or "Client". "Digital Coins" or "Digital Currency" are Bitcoins (BTC), Ether (ETH), and any other virtual, digital or cryptographic currency as may be added to the Services by the Company from time to time according to the Company's sole discretion.

  1. USER ACCOUNTS

2.1.  CREATING YOUR ACCOUNT

2.1.1.       A creation of an Account (as set forth below) and the use of the Services are permitted only to users that are 18 years of age or older. The Company may refuse to provide the Services to any User that does not prove to Company's satisfaction that he meets this age limitation. Company disclaims, and User hereby releases the Company of any and all liability for any loss, damages or any other detrimental event, if User provides unauthentic proof of his age at the time of registration. Company may cancel any transaction under the Services at any time in case Company, in its sole discretion, believes User is under 18 years of age.

2.1.2.       By accessing or using the Services, you will be creating a personal user account with Bits of Gold (“Account”). You hereby represent and warrant that You shall not:

(i)             Create an Account using a false identity or false information, or on behalf of someone other than yourself;

(ii)           Have an Account or use the Services, if you are banned under any applicable law or regulation, by this Agreement or by Bits of Gold, from using the Service;

(iii)          Use your Account for commercial purposes other than for the utilization of the Services, and in any case, You warrant that You will solely for your own personal account;

(iv)          Use your Account to engage in any illegal conduct.

2.1.3.       When creating or updating an Account, or when using the Services, you may be required to provide the Company with personal information that may include your full name, e-mail address, telephone number, ID number, date of birth, gender, address, identification card/passport or any other identifying document, digital Wallet ("Wallet" or "Digital Wallet") identification information and any other type of information required by the Company. This information shall be held and used according to Bits of Gold's Privacy Policy [link]. You hereby agree that you shall supply accurate and complete information to the Company, and that you shall update the information promptly, if it changes. Any adverse result due to inaccurate or not up-to-date Account information, shall be at your sole responsibility and Bits of Gold shall not bear any liability in connection therewith.

2.1.4.       User acknowledges that Accounts may be deactivated following a written User request to deactivate them (provided that any current activity in the account is completed). Without derogating from any right of Bits of Gold as provided under these Terms of Service, Bits of Gold reserves the right to deactivate any Account that has not been active for 180 days.

2.2.  SECURITY OF YOUR ACCOUNT

2.2.1.       User shall not:

(i)             Share the Account or the login information with any other entity;

(ii)           Let any other entity access its Account, or do anything else that might jeopardize the security of its Account.

In an event that the User becomes aware of or reasonably suspects any breach of security, including without limitation any loss, theft, or unauthorized disclosure or use of User's login information, the User must immediately notify Bits of Gold and modify its login information. User shall be responsible for maintaining the confidentiality of the login information, and it shall be responsible for all uses of the login information, whether or not authorized by the User. User shall be responsible for anything that happens through its Account. Bits of Gold reserves the right to cease the provision of the Services at any stage thereof and/or remove or reclaim any usernames and/or deactivate any Account, at any time and for any reason, including but not limited to claims by a third party that a username violates such third party’s rights.

3.     THE SERVICES

3.1.  REGULATION

3.1.1.       Digital Coins are a relatively new concept, and the applicable worldwide regulation is constantly developing; including, without limitation, anti-money laundering and anti-terrorism funding legislation and regulation that concerns the regulation of Digital Coins in various aspects. In an event where a regulatory agency imposes new regulations on the Services and/or in connection with Digital Coins, Bits of Gold may, in its sole discretion, modify these Terms of Service, its internal compliance policies, and the procedures applicable to Users in order to obtain the Services, to align with such new regulations. Notwithstanding the foregoing, the Company may shutdown the Website and Services at any time with no prior notice, at its sole discretion.

3.2.  SCOPE OF SERVICES

3.2.1.       First you must set up an Account as detailed above, and provide all of the information required by Bits of Gold. If you do not complete all of the required information, including appropriate identification as required for the provision of the Service and under applicable regulations, which must be satisfactory to Bits of Gold at its sole discretion, Bits of Gold may (at its sole discretion) refuse to provide You with the Services to without cause or prior notice. Please note that even after your approval for registration and use of your Account, Bits of Gold may require that you add additional details, provide additional credentials or identification papers, reproduce new copies of identification papers you have presented, or make any other demand in order to fulfill its KYC requirements and standards, and your compliance with such request is a condition precedent for the provision of the Services. Please note that in case the Account belongs to a legal entity, and not a natural person, additional identification may be required (such as company identification, as well as identification of UBO, Director, etc.). To the extent you have provided and/or transferred funds to Bits of Gold prior to the completion of your identification and/or the completion of setting up of your Account in accordance with Bits of Gold's procedures, Bits of Gold shall return such funds to you, to the same account or credit card from which the funds were transferred (and in the event of a cash deposit, the return of the funds shall be made at Company’s premises or through a third party service provider, at Company’s sole and absolute discretion, less any losses that Bits of Gold may have incurred in connection with such transaction (e.g., if the applicable exchange rate determined for the purchase of the Digital Coin has dropped and Bits of Gold already committed to the purchase of the Digital Coin on your behalf).

3.2.2.       As part of the Services, the Company facilitates the buying and selling of certain Digital Coins and, when applicable, conversion services with respect to fiat  currency pairs USD/ILS and ILS/USD and others at Company's sole discretion as may be needed in order to acquire the relevant Digital Coins. The exchange rate that will be charged by the Company, will be set at the time of exchange, in accordance with the relevant exchange rate at https://openexchangerates.org/. For the avoidance of any doubt, "fiat currency" means any currency issued by a sovereign states central bank such as USD, ILS, EUR and the like. 

3.2.3.       In consideration of the Services, Bits of Gold shall be entitled to a commission, as detailed in each instance when you make use of the Services. Information about the applicable commissions for each type of Service and each type of Digital Coins, may be detailed here or in any other section of the Website as the Company may see fit. Bits of Gold reserves the right to update, change, amend, modify, suspend, continue or terminate all or any part of the commissions collected by it in connection with the Services, at any time and without prior notice.

3.2.4.       Concluded transactions are irreversible by both parties, unless the Company determines at its sole discretion that a technical or human error had occurred.

3.2.5.       Please note that when purchasing Digital Currency via the Services with fiat currency (i.e. USD, ILS and the like) a conversion of the fiat currency to another type of fiat currency (for example, from ILS to USD) might be necessary in order to facilitate the purchase. Furthermore, when selling Digital Currency via the Services, a conversion of the fiat currency that was received in exchange for the Digital Currency to another type of fiat currency (for example, from USD to ILS) might be necessary in order to enable You to receive the funds in the fiat currency of your preference. Such conversions might be followed by some additional costs and fees and therefore the conversions might affect the amount of fiat or Digital Currency received by You. You hereby accept any additional charges or other unforeseen effects on the amount of virtual or fiat currency received via the Services.     

3.2.6.       The following limitations apply to the use of the Services for Users: Bits of gold reserves the right to change any of the following, at its sole discretion without cause or prior notice.

 

Payment Method

Cash - GMT

Cash - ATM

Credit Card

Bank Transfer

Limitations – User is in Israel

Minimum: ILS 1,000.

Maximum: ILS 10,000 (including ILS 10,000).

 

Minimum: ILS 20

Maximum: ILS 5,000 (including ILS 5,000).

Minimum: USD 200 (In ILS rates)

Maximum:

Per 24 hours – USD 10,000 (In ILS rates).

Per month – USD 50,000 (In ILS rates).

Minimum: ILS 10,000.

Maximum: Varies in accordance with regulation.

Limitations - User outside of Israel

Not available.

 

 

Not available.

Minimum: USD 200 (In ILS rates).

Maximum:

Per 24 hours – USD 10,000 (In ILS rates).

Per month – USD 50,000 (In ILS rates).

Every transfer must be specifically reviewed and approved by Bits of Gold.

 

3.2.7.       Bits of Gold reserves the right, in its sole discretion, to change any transaction limit and/or policy without cause or prior notice.

3.2.8.       Bits of Gold’s business hours shall be from 9:30 to 18:00 on Sunday through Thursday and on Friday from 9:30 to 13:00, on Israeli business days only. Any actions you take outside of these hours may not be processed by Bits of Gold until the next business day. For instance, when you buy Bitcoins via Bits of Gold's Services, you may transfer the purchase funds to Bits of Gold’s bank account after the business hours, however, you understand that Bits of Gold will not proceed with the facilitation of the purchase on your behalf and/or will not obtain Digital Coins for you during those hours, and that the exchange rate for your transaction will be set in accordance with Section ‎3.4 below at the next business day.

3.2.9.       Bits of Gold uses third parties to receive funds and sell and purchase Digital Currencies, Convert currency, to process certain types of payments, to conduct risk analysis, as applicable for the requested Service and for the selected payment method ("Third-Party Service Providers"). Bits of Gold reserves the right to change and replace such Third-Party Service Providers at its sole Discretion, without cause or prior notice. The services provided by such Third-Party Service Providers shall be governed exclusively by the terms of use or other terms and conditions of such Third-Party Service Providers, and Bits of Gold shall have no responsibility or liability with respect to any of their acts or omissions and any result thereof.

3.2.10.    Without derogating from anything above, you hereby agree to the Company's cancelation policy as set forth below:

3.2.10.1.      In this section ‎3, a "Buy Order" shall mean a duly filled order for the purchase of Digital Currency filed by You with the Company and a "Sell Order" shall mean a duly filled order for the sale of Digital Currency filed by You with the Company.

3.2.10.2.      The cancelation of a Buy Order (a "Cancelation") will be made by clicking the "Cancel" button in the "Orders" section of the Website. Cancelation will be possible up until the purchase price for the Digital Coin has been locked by the Company's Third-Party Service Providers.

3.2.10.3.      The cancelation of a Sell Order will not be possible due to the fact that Sell Orders are executed automatically.

3.2.10.4.      Subject to the terms and conditions set out above, the following terms and conditions shall apply in an event of Cancelation:

3.2.10.4.1.           User shall bear all costs arising from the Cancelation, including (amongst other costs) the cost of transferring and retransferring the funds to their source and a Cancelation fee of ILS 100 or 5% of the transaction amount, according to the lowest. User hereby waives any and all claims with respect to the timing, manner and cost of Cancelation.

3.2.10.4.2.           User hereby waives any and all claims against the Company with respect to or in connection with the Cancelation.  

3.2.10.4.3.           User hereby acknowledges that once a Cancelation is requested, it is irrevocable and irreversible unless Company, at its sole discretion, has decided that it willing and able to reverse the Cancelation. The Company shall bear no liability and User hereby releases the Company from any responsibility with respect to a reversion or revocation of a Cancelation.

It is hereby agreed that with respect to all matters regarding Cancelations, the Company's past decisions shall not be binding upon it and will not be considered as a binding precedent. Further, User may not rely and waives any claim regarding its reliance on Company's past decisions regarding Cancelations.             

 BUYING DIGITAL COINS

3.3.  Process.

Wire Transaction

3.3.1.          After You place your order to buy Digital Coins on the Website, you will receive the bank account details of Bits of Gold, confirming that you may proceed with the transfer of the purchase money to our bank account. Please do not transfer any money to our bank account unless the bank account details are displayed in the order (confirming that the order was created). Any money that will be received without our prior confirmation will not be used to purchase Digital Coins. If you will not transfer the money within 48 hours of receiving the Company's confirmation email, your order will be cancelled unless Bits of Gold decides otherwise.

3.3.2.          After you'll transfer the purchase money to Bits of Gold’s bank account, Bits of Gold will use its best efforts to purchase and/or obtain the Digital Coins for you, as soon as possible. Please refer to Section ‎3.4 below for more information on the Time of Exchange Rate determination. However, since Bits of Gold depends on Third-Party Service Providers, it cannot guarantee the exact timing of the purchase and obtainment of the purchased Digital Coins, which depends on various legal and commercial considerations of the Third-Party Service Providers. For example, with respect to Bitcoins, the time of a blockchain approval might depend, amongst other things, on miners' confirmation.

3.3.3.          Important Notice: the wired funds must be wired from a bank account belonging to the User, as was identified in the system! In case funds are transferred from an account that does not belong to the User, the funds will be sent back to their origin.

Cash Transaction

A cash transaction may be facilitated in either one of the following methods:

3.3.4.          ATM. Purchase via the Bitcoin ATM located at the "Bitcoin Embassy" (Achuzat Bayit #1, Tel Aviv). In order to use the Bitcoin ATM, You will need to arrive at the "Embassy", deposit cash with the Bitcoin ATM and get the purchased Bitcoins sent directly to Your Bitcoin Wallet. Currently, Ethereum is not available for cash payments through the ATM, however such service may be made available in the future.

3.3.5.          Please consider that in order to use the ATM you will have to pass a basic KYC. Please make sure to arrive at the ATM with an updated photo ID (Passport, driver's license, ID).

3.3.6.          GMT - Global Money Transfer. The second method of purchasing Bitcoin using cash consists of a cash deposit using one of the GMT branches. In order to use this method of payment, You must first open an order on the Website. Then You have to arrive at one of the GMT branches listed on the Website, and request to deposit money in Bits of Gold's account / to buy Bitcoins. The clerk will ask for your email address (the one you registered in your order), your Order Number, and will ask for a copy of Your ID and any additional personal information or documentation (depending on the then applicable regulatory guidelines). After depositing the money, Bits of Gold will receive a notification, identify Your order and lock the Bitcoin rate in accordance with Section ‎3.4 below (for more information on the Time of Exchange Rate determination). 

Credit Card Transaction

3.3.7.          Currently, it is important to know that the credit card payment method is facilitated via Coinmama - a Bitcoin trading company or Simplex (will be back as an option soon). If You choose to make the transaction through Coinmama then, You will need to register on Coinmama’s website and follow the procedure as specified on said website. When the transaction will be made through Simplex, you will be referred to Simplex’s website.

Please note that Coinmama and Simplex are separate and independent entities with their own terms of services, KYC processes and and User hereby waives any and all Claims against the Company with respect to any costs or damages incurred in connection with Coinmama's or Simplex's services.   

3.3.8.          In either case, in order to pay by credit card, You must first pass a full KYC authentication process by Bits of Gold.

3.3.9.          After You enter your credit card information, the clearing is done by the third-party service provider, and the initial purchase is expected to take up to two hours (during and subject to working hours). The Bitcoin rate is locked as set forth in the table below. After receipt of clearing approval by Bits of Gold, You will receive an email announcing the approval of the transaction.

3.4.  Applicable Exchange Rate. The rate for the sale or purchase of Digital Coins appearing on Bits of Gold’s website, when placing an order in scope of any of the applicable processes described above, is an estimate only and will not be the final rate. For the avoidance of doubt, exchange rates may be denominated, at Company's sole discretion, in ILS, USD, EUR or any other type of currency. User hereby waives any claim arising from or in connection with the rate appearing on the Website. The applicable exchange rates applicable for purchasing Digital Coins shall be as follows:

 

 

Cash - GMT

Cash – ATM

Credit Card Payment

Bank Transfer Payment

Time of Exchange Rate determination

Only during the Company's Business Hours (as defined above), at each round hour after completion of the transfer of funds from GMT to Bits of Gold's bank account.

At the time of purchase confirmation.

The exchange rate is determined automatically after receiving approval by such Third-Party Service Provider of the transaction, at its sole discretion.

Only during the Company's Business Hours (as defined above), at each round hour after completion of the transfer of funds to Bits of Gold's bank account and of the identification of the source of funds by the Company. The identification process will take place by the user uploading a reference number and a reference copy of the transfer to the Company's website. The Company reserves the right to set the exchange rate upon identification without the reference number and the reference copy of the transfer, if it succeeds in recognizing the transfer without the aforementioned.

Comments

Company may determine the exchange rate prior to the confirmation of the transaction by the Third-Party Service Provider, in which case this exchange rate shall be the binding rate for the transaction ("OTC Transaction").

The ILS amount required for the purchase of Bitcoin is converted according to the average exchange rate that appears in the XBX index featured in www.tradeblock.com.

When placing an order to purchase Ethereum, the Ethereum is purchased after converting the ILS amount to Bitcoin based on the ILS-Bitcoin rate as aforementioned, and then converting the Bitcoin to Ethereum based on the then current Ethereum-Bitcoin exchange rate featured in www.bitfinex.com.

 

3.5.  Please note that it may take some time until the funds you have transferred to Bits of Gold’s bank account is actually received, identified and available for use. 

3.6.  Digital Wallets. When utilizing any of the Services offered by Bits of Gold, You must make sure you have a valid and operational Wallet, details of which will be provided by You to Bits of Gold. Bits of Gold is not and will not be responsible for any damages or loss in relation to your Wallet or your Digital Coins. You are solely responsible for the security and integrity of your own Wallets. Bits of Gold will not be held responsible for Digital Coins sent to an incorrect Wallet address or for funds sent to an incorrect bank account, as long as the payments were made to the Wallet or account (as applicable) number provided by You.

3.7.  It is hereby emphasized that Bits of Gold will not give any advice or service with regards to any Wallet or Wallet providers and it shall not bear any liability of any kind in connection with Your operation of your Wallet or the security measures taken (or lack thereof) by you with respect to Your Wallet, and any perceived recommendation regarding any Wallet shall not be considered a recommendation or endorsement under any circumstances.

3.8.  User hereby warrants that it will indemnify the Company at an amount equal to the costs incurred by it due to any lawsuit or action brought by User against the Company due to such perceived recommendation or perceived endorsement.

3.9.  It is Your responsibility to provide Bits of Gold with the details of the relevant Wallet for the specific transaction (i.e. bitcoin transaction will require a Bitcoin Wallet, whereas an Ethereum transaction will require an Ethereum Wallet).

3.10.        No right to sell. You agree and understand that buying Digital Coins through Bits of Gold does not grant you any right to sell such Digital Coins or other Digital Coins back to Bits of Gold.

3.11.        Source of Funding. By accepting these Terms of Service, and by using the Services, you represent and declare that the You and only You are the source of the funds transferred to Bits of Gold from your own personal account and that the origin of the funds is legal and legitimate and is not related to any illegal activity, in Israel or any other jurisdiction. Furthermore, You hereby declare that all funds sent by you to bits of gold were obtained by You in a legal manner and that the funds were not derived from any illegal activity, whether in Israel or in any other jurisdiction. Taxes on these funds have been paid as required by the law. By accepting these Terms of Service, you represent and declare that the transfer of funds is exempt from taxes and does not represent an income for the receiver;    

  1. SELLING DIGITAL COINS

4.1.  Bank Transfer. Types of Coins you may sell. When placing an order to sell virtual currency, the payment in exchange for the Digital Currency shall be made to the bank account you have specified in your selling order. The types of Digital Coins you may sell to Bits of Gold may be changed from time to time at Bits of Gold's sole discretion and without prior notice. You will know which types of Digital Coins you may sell via the Service in accordance with the options that will actually be available to you when you access the Website from time to time.

4.2.  Cash. In order to receive cash, fill out "cash" in place of the fields requesting your bank account details. Several hours later you will receive a text message sent to the phone number connected with the User's Account with a code, which you can then bring to one of the GMT branches to collect cash (Up to 10,000 ILS per client per day).

4.3.  In order to execute Sale of Digital Coins you must be have an Account (meaning you have already finished the KYC process).

4.4.  Selling Process. You will be required to transfer the Digital Coins to Bits of Gold’s Wallet. It may then take some time until the transaction is fully confirmed (e.g. with respect to bitcoins, 6 confirmations by the bitcoin network are required in order to process the transaction) ("Confirmation").

4.5.  Exchange Rate for the Sell Order. You fully understand and agree that the rate displayed at Bits of Gold’s website is an estimate only, and will not be the final rate of the transaction. Only once Confirmation has been received by the Company, as applicable to the type of Digital Coin at hand, the exchange rate of your transaction will be locked automatically. However, since Bits of Gold depends on Third-Party Service Providers, it cannot guarantee the timing of actual sale of Digital Coins, which depends on various circumstances and considerations of the Third-Party Service Providers (see also the comments in section ‎3.4 mutatis mutandis). Bits of Gold will then issue a transfer of the applicable amount according to such exchange rate to your bank account, as per the said rate and less the Bits of Gold commission fees.

4.6.  No Cancellation of Selling transaction. When placing a Sell Order, you therefore agree: once you send the Digital Coins to Bits of Gold's Digital Wallet, there will be no cancellation or refund, under no circumstances, including in events of technical or human errors. Notwithstanding the foregoing, if you have made an error and transferred the Digital Coins to a Wallet other than the one provided by Bits of Gold, you shall not be entitled to receive any payment from Bits of Gold. 

4.7.  The Company may refuse to provide Services with respect to a sale of Digital Coins when the transaction value does not exceed ILS 100.

  1. RESTRICTIONS & PROHIBITIONS

5.1.  Without derogating from any provisions of this Agreement, the following prohibitions apply to using the Services: You shall not use the Services connected with violating any applicable law or regulation, or doing anything that promotes the violation of any applicable law or regulation; Except where permitted by law or the applicable licenses, you may not reverse engineer, decompile, disassemble, decipher or otherwise attempt to derive the source code for any underlying software or other intellectual property used to provide the Services, or to obtain any information from the Services using any method not approved in writing by Bits of Gold ; You agree not to reproduce, republish, upload, post, transmit, make available to the public, or otherwise distribute, any part or any modification or derivative work of the Services; You shall not use the Services to design or assist in designing cheats, exploits, automation software, bots, hacks, mods or any other unauthorized third-party software to modify or interfere with the Services; You may not institute, assist or become involved in any type of attack, including distribution of a virus, attacks upon the Services that prevent access to or use of the Services, other attempts to disrupt the Services, gain unauthorized access to the Services, or disrupt any other person’s use or enjoyment of the Services; You may not transmit unauthorized communications through the Services, including junk mail, chain letters, spam and any materials that promote malware, spyware and downloadable items; You shall not use any unauthorized third-party software that accesses, intercepts, 'mines', or otherwise collects information from or through the Services or that is in transit from or to the Services; You shall not bypass any robot exclusion headers or other measures Bits of Gold uses to restrict access to the Services or use any software, technology, or device to send content or messages, scrape, spider, or crawl the Service, or harvest or manipulate data; You shall not use, facilitate, create, or maintain any unauthorized connection to the Services, including: (i) any connection to any unauthorized server that emulates, or attempts to emulate any part of the Services; or (ii) any connection using programs, tools, or software not approved in writing by Bits of Gold; You shall not post any information that is abusive, threatening, obscene, defamatory, libelous, or discriminatory based on age, ethnicity, race, religion or sex or that contains a link to such content; You may not attempt to, or harass, abuse, or harm of another person, group, including Bits of Gold employees and customer support representatives; You may not solicit or attempt to solicit personal information from other users of the Services; You may not collect, harvest or post anyone’s private information, in any media format, through the Services; You shall not make available through the Services any material or information that infringes any copyright, trademark, patent, trade secret, right of privacy, right of publicity, or other right of any person or entity or impersonates any other person; You shall not copy, modify or distribute rights or content from the Services, or Bits of Gold’s copyrights or trademarks or use any method to copy or distribute the content of the Services except as specifically allowed in this Agreement.

  1. TERMINATION OF ACCOUNT AND SERVICES

6.1.  Any use of the Services that violates this Agreement is strictly prohibited and can, at the Company's sole discretion, result in the immediate revocation of your limited rights granted by these Terms of Service. Without limiting any other remedy, Bits of Gold may limit, suspend, revoke, terminate, modify, or delete your Account or access to the Services at its sole discretion without prior notice, if you are, or if Bits of Gold suspects (in its sole discretion) that you are failing to comply with these Terms of Service or for any actual or suspected illegal or improper use of the Services or if Bits of Gold believes that you are creating risk or possible legal liabilities, infringing on the intellectual property rights of third parties.

6.2.  Without derogating the aforementioned, Bits of Gold reserves the right, in its sole discretion, for any reason, to stop offering and/or supporting the Services or part of the Services at any time either permanently or temporarily, either to certain Users or in general, at which point your right to use the Services shall be automatically terminated or suspended. In such an event, Bits of Gold shall not be required to provide benefits or other compensation to users connected with such discontinued elements of the Services, other than possible refunds. Upon termination of your Account, your Account log in credentials may not be reserved and it may not be possible to re-instate them. You hereby acknowledge and agree that Bits of Gold is under no obligation to compensate you for any losses resulting from the cease of Services as set forth hereinabove, whether such closure was voluntary or involuntary.

  1. OWNERSHIP

7.1.  The Services and the Website and all of the content that appears therein, including without limitation, the Company's and/or the Service’s and/or the Website's name, software, technologies, source code, concepts, artwork, photos, animations, sounds, methods of operation, moral rights, documentation, and virtual Items, are the exclusive property of Bits of Gold, or is being used with permission from its licensors. Bits of Gold (or its licensors as applicable) retain all rights, title and interest in and to the Services and/or the Website and all of the content that appears in the Services and/or the Website, and all intellectual property rights relating thereto, including without limitations all copyright, patent, trademarks, tradenames, design rights and any other proprietary rights connected with the Services and/or the Website.

7.2.  Notwithstanding any provision to the contrary herein, You agree that you have no right or title in or to the Services and/or the Website and/or to any content that appears therein. Bits of Gold’s name and logo, and any other trademarks included in the Services and/or the Website are trademarks owned solely by Bits of Gold. All third-party trade names or trademarks that may appear in the Services and/or the Website are trademarks of their respective owners. No transfer or grant of any rights under any names, marks or logos is made or is to be implied by any provision of these Terms of Services or by anything on the Services and/or the Website, and all rights in such names, marks or logos is reserved to Bits of Gold and their respective owners.

7.3.  Notwithstanding anything to the contrary herein, you agree that you shall have no ownership or property interest in any Account. You further agree that Bits of Gold owns all rights in and to an Account.

  1. LINKED SITES; ADVERTISING

8.1.  To the extent that the Services contain links or any other information to third party websites or services ("Third-Party Websites"), Bits of Gold does not control the availability and content of those Third-Party Websites and their services. Any concerns regarding any such Third-Party Websites or any link thereto, should be directed to such particular Third-Party Website. Bits of Gold makes no representation or warranty regarding any content, goods and/or services provided by any Third-Party Website, even if linked to the Services. Bits of Gold shall not be liable for any claim relating to any Third-Party Website content, goods and/or services. The Third-Party Websites are not under the control of Bits of Gold and may collect data or solicit personal information from You. Bits of Gold is not responsible for their content, business practices or privacy policies, or for the collection, use or disclosure of any information those sites may collect.

8.2.  You agree that the Services may feature advertisements from third parties. Bits of Gold is not responsible for the actions of third parties who advertise on the Services or to the content of such advertisements. Your interactions with such advertisers are agreements between you and them and Bits of Gold has no responsibility or liability for such interactions, and is not a party to any transaction which may result from such interactions between User and an advertiser.

 

  1. DISCLAIMER

9.1.  PLEASE NOTE THAT BITS OF GOLD RESERVES THE RIGHT TO REFUSE ANY ORDER FOR ANY REASON.

9.2.  By using our Services, You represent and warrant that you understand the risks associated with the sale and/or purchase of Digital Coins.

9.3.  Bits of Gold makes no assurances or warranties about the value, performance, or integrity of any Digital Coin or of the Bits of Gold Website and/or Service. If or when in doubt regarding any or all of the Services and/or Website and/or your use thereof, please obtain independent legal and/or financial advice, including but not limited to, the buying, selling and trading of Digital Coins, under the local laws of your jurisdiction, and exercise your own judgement with respect to any action you make in your Account and/or otherwise through the Services.

9.4.  Bits of Gold accepts no responsibility for the accurate maintenance of the Website information, calculation, or valuation. You bear the entire risk of loss, including, but not limited, for data, calculation, and valuation of Digital Coins and their related transactions.

9.5.  THE SERVICES ARE PROVIDED TO YOU 'AS IS' AND WITHOUT WARRANTIES OF ANY KIND EITHER EXPRESSED OR IMPLIED. TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, BITS OF GOLD DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, INFRINGEMENT AND FITNESS FOR A PARTICULAR P URPOSE. WITHOUT LIMITING THE FOREGOING, NEITHER BITS OF GOLD NOR ITS AFFILIATES OR SUBSIDIARIES, OR ANY OF THEIR DIRECTORS, EMPLOYEES, AGENTS, ATTORNEYS, THIRD-PARTY CONTENT PROVIDERS, DISTRIBUTORS, JOINT-VENTURES, LICENSEES OR LICENSORS (COLLECTIVELY, "BITS OF GOLD PARTIES") REPRESENT OR WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED, ERROR-FREE, OR FREE FROM VIRUSES/HACKERS OR OTHER HARMFUL COMPONENTS. YOU AGREE THAT USE OF THE SERVICES IS AT YOUR SOLE RISK.

  1. LIMITATION OF LIABILITY

YOU ACKNOWLEDGE AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY ANY APPLICABLE LAW, THE DISCLAIMERS OF LIABILITY CONTAINED HEREIN APPLY TO ANY AND ALL DAMAGES OR INJURY WHATSOEVER CAUSED BY OR RELATED TO USE OF, OR INABILITY TO USE, THE SERVICES UNDER ANY CAUSE OR ACTION WHATSOEVER OF ANY JURISDICTION, INCLUDING, WITHOUT LIMITATION, ACTIONS FOR BREACH OF WARRANTY, BREACH OF CONTRACT OR TORT (INCLUDING NEGLIGENCE), AND THAT UNDER NO CIRCUMSTANCES WHATSOEVER WILL BITS OF GOLD OR ANY OF BITS OF GOLD PARTIES , EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, BE RESPONSIBLE OR LIABLE TO YOU OR TO ANY OTHER ENTITY FOR ANY COMPENSATORY, INDIRECT, INCIDENTAL, CONSEQUENTIAL (INCLUDING FOR LOSS OF PROFITS, LOST BUSINESS OPPORTUNITIES, LOSS OF GOODWILL, LOSS OF DATA OR DATA DESTRUCTION OR IMPAIRMENT) SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES THAT RESULT FROM OR RELATE IN ANY MANNER WHATSOEVER TO YOUR USE OF OR IN ABILITY TO USE THE SERVICES . IF YOU ARE DISSATISFIED WITH THE SERVICES, OR WITH THE TERMS OF SERVICE, OR YOU HAVE ANY DISPUTE WITH BITS OF GOLD, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SERVICES. YOU FURTHER SPECIFICALLY ACKNOWLEDGE THAT NEITHER BITS OF GOLD NOR ITS BITS OF GOLD PARTIES ARE LIABLE, AND YOU AGREE NOT TO SEEK TO HOLD BITS OF GOLD AND/OR BITS OF GOLD PARTIES LIABLE, FOR THE CONDUCT OF THIRD PARTIES, INCLUDING THIRD PARTY SERVICE PROVIDERS AND THIRD PARTY WERBSITES, AS WELL AS OTHER USERS OF THE SERVICES, AND THAT THE RISK OF THEIR SERVICES AND OF INJURY FROM THE FOREGOING RESTS ENTIRELY WITH YOU OR SUCH THIRD PARTIES. BECAUSE SOME JURISDICTIONS DO NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR CERTAIN TYPES OF DAMAGES, SOME OF THE ABOVE LIMITATIONS MAY NOT APPLY TO YOU. IN SUCH JURISDICTIONS, BITS OF GOLD 'S LIABILITY IS LIMITED AND WARRANTIES ARE EXCLUDED TO THE GREATEST EXTENT PERMITTED BY APPLICABLE LAW.

  1. INDEMNIFICATION

You agree to defend, indemnify and hold Bits of Gold and/or any of Bits of Gold Parties harmless from any and all claims, losses , costs , liabilities, and damages (including, but not limited to, direct, incidental, consequential, exemplary, indirect damages and reasonable attorneys’ fees, expert fees’ and other reasonable costs of litigation) incurred to any Bits of Gold Party as a result of, or in connection with, or in any manner related to a third party claim brought against Bits of Gold, based on any of Your acts or omissions. including without limitation, your failure to comply with the Terms of Service or any violation by you of these Terms of Service or any breach of the representations and warranties made by you herein. Bits of Gold reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Bits of Gold, and you agree to cooperate with Bits of Gold’s defense of these claims. Bits of Gold shall use commercially reasonable efforts to notify you of any such claim, action, or proceeding upon becoming aware of it; and You agree that the provisions in this paragraph shall survive any termination of your Account or the agreement under these Terms of Service.

  1. MISCELLANEOUS

These Terms of Service, including the Privacy Policy, shall be governed by and construed exclusively in accordance with the laws of the state of Israel. If any provision of the Terms of Service, including the Bits of Gold’s Privacy Policy, is determined to be invalid or unenforceable, the provision shall be deemed to be severable from the remainder of the Terms of Service and shall not cause their invalidity or unenforceability. These Terms of Service, including Bits of Gold’s Privacy Policy, constitutes the entire agreement between You and Bits of Gold regarding the subject matter herein. It supersedes all prior understandings of the parties hereto relating to the subject matter hereof, whether electronic, oral or written, or whether established by custom, practice, policy (including any information available on the Website) or precedent, between you and Bits of Gold regarding the Services. Bits of Gold may assign its rights and obligations hereunder, in whole or in part, at its sole discretion, to any person or entity at any time with or without your consent. You may not assign or delegate any rights or obligations under these Terms of Service and/or the Services without Bits of Gold’s prior written consent. Services access may be interrupted, suspended or terminated from time to time due to circumstances either within or beyond Bits of Gold’s control. Bits of Gold shall not be liable for any delay or failure to perform resulting from causes outside the reasonable control of Bits of Gold, including without limitation any failure to perform hereunder due to a force majeure event, such as acts of God, war, terrorism, riots, embargoes, acts of civil or military authorities, fire, floods, accidents, network infrastructure failures, strikes, or shortages of transportation facilities, fuel, energy, labor or materials. If you have concerns relating to the Services and/or the Terms of Service, please contact us at info@bitsofgold.co.il.