TERMS OF SERVICES
GENERAL AND ACCEPTANCE
Welcome to Bits of Gold website , managed by Bits of Gold Ltd. (' Bits of Gold '). Bits of Gold provide s a service and acts as agent to purchase and sell the internet commodity known as “ Bitcoins ” ( “ the Services ” ). Your participation on the Bits of Gold website constitutes your complete acceptance of and agreement to be bound by these Terms of Services . Please take time to review them carefully prior to sharing your registration information. Each time you log onto the Bits of Gold website, you completely accept and agree to these Terms of Service s , as they may exist at that time. By logging onto, and/or participating on the Bits of Gold website, you also become a Bits of Gold client. In this Agreement, you and Bits of Go ld are each a Party.
CREATE YOUR ACCOUNT
SECURITY OF YOUR ACCOUNT
You shall not share the Account or the login information, let anyone else access your Account, or do anything else that might jeopardize the security of your Account. If you become aware of or reasonably suspect any breach of security, including without limitation any loss, theft, or unauthorized disclosure of the l ogin information, you must immediately notify Bits of Gold and modify your login information . You shall be responsible for maintaining the confidentiality of the login information, and you shall be responsible for all uses of the login information, whether or not authorized by you. You shall be responsible for anything that happens through your Account. Bits of Gold reserves the right to remove or reclaim any usernames 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.
Bitcoins have no intrinsic value, but they are frequently traded, bought, and sold. Bitcoins are digitally stored, which makes them transportable. Bits of Gold is a website that allows you to buy and sell Bitcoins, and Bits of Gold collects a commission for providing th ese S ervice s . Bitcoins are a new innovation and the regulation is still developing . There has been legislative discussion that Bitcoins could be used in a shadow or illegal e conomy, but at this time, Bits of Gold is not aware of any legal restrictions on the use or trading of Bitcoins. In the event that a regulatory agency imposes new regulations on Bitcoin, Bits of Gold may, in its sole discretion, modify its Compliance progr am to align with new regulations, or perform an orderly shutdown of the Bits of Gold website prior to the new regulations going in effect. Trading in digital or virtual commodities, goods, or products is inherently risky. By using our S ervice s , you represe nt and warrant that you understand the risks associated with bitcoins and digital or virtual commodities, goods, or products. Bits of Gold makes no assurances or warranties about the value, performance, or integrity of Bitcoins or the Bits of Gold website. If or when in doubt regarding any or all of our services, please obtain independent legal and/ or financial advice, including but not limited to, the buying, selling and trading of Bitcoins or any other digital commodities, products or goods, under the lo cal laws of your jurisdiction. Concluded transactions are irreversible. BITS OF GOLD RESERVES THE RIGHT TO REFUSE ANY ORDER FOR ANY REASON . Bits of Gold strictly enforces the following limits on Client transactions: Daily Bitcoin Buy Limit: 50,000.00 ILS. Territory: Israel only. Bits of Gold reserves the right, in its sole discretion, to change any transaction limit and or policy. 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 Bitcoins and Bitcoin transactions. Bits of Gold ’ s opening hours are from 9 am to 9 pm. Any actions you take outside of these hours will not be processed by B its of Gold until the next morning, and the rate of the transaction will be the rate at the next morning. For instance, when you buy Bitcoins from Bits of Gold , y ou may transfer the purchase money to Bits of Gold ’ s bank account after the opening hours , how ever, you understand that Bits of Gold will not proceed with the purchase of the Bitcoins for you and/or will not obtain Bitcoins for you during those hours, and that the rate for your transaction will be the rate of the next morning. Bits of Gold charges a commission on every transaction. Bits of Gold ’ s commission may change from time to time, and the most recent information on the commission percenta ge is available when placing your order.
Bits of Gold acts as an agent to buy Bitcoins. Af ter you place your purchase order on Bits of Gold ’ s website, you will receive an email from us, 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 you hav e received such confirmation email. Any money that will be received without our prior confirmation will not be used to purchase Bitcoins. If you will not transfer the money within 48 hours, your order will be cancelled. After you transfer the purchase mon ey to Bits of Gold ’ s bank account, Bits of Gold will use its best efforts to purchase and/or obtain the Bitcoins for you, as soon as possib le. However, since Bits of Gold depends on other third parties, it cannot guarantee that it will obtain the Bitcoins immediately after you transfer the money. You fully understand and agree that the rate of the transaction will be the rate in which Bits of Gold has actually purchased/obtained the Bitcoins for you. The rate appearing on Bits of Gold ’ s website, when placin g the order, is an estimate only and will not be the final rate. You also understand that it may take some time until the money you have transferred to Bits of Gold ’ s bank account is actually received and available for use.
Bits of Gold ’ s website also allows you to sell your Bitcoins to Bits of Gold . In order to do so, you will be required to transfer the Bitcoins to Bits of Gold’s wallet. It may then take some time until the transaction is fully confirmed (6 confirmations by the bitcoin network). Only once the transaction is fully confirmed, the rate of your transaction will be set according to the effective rate at our supplying exchange. Bits of Gold will then issue a transfer of the equivalent money to your bank account , as per the said rate and commission fees. You fully understand and agree that the rate at Bits of Gold ’ s website is an estimate only, and will not be the final rate of the transaction. You agree and understand that buying Bitcoins through Bits of Gold does not grant you any selling rights. Although you bought Bitcoins through Bits of Gold , you might not be able to sell them through Bits of Gold in the future. By accepting these Terms of Services, you declare that the origin of the money transferred to Bits of Gold is from your own salary, and that taxes on this money has been paid as required by the law. By accepting these Terms of Services, you declare that the transfer of money is exempt from taxes and does not represent an income for the receiver; you further demand that this operation shall incur 0% taxes according to paragraph 161-170 of the Israeli Income Taxes law. The origin of the money is legitimate and is not related to any illegal activity, in Israel or any other state. WALLETS When you buy Bitcoins from Bits of Gold , and you do not have /provided your own wallet, Bits of Gold will automatically create a wallet for you, in which the Bitcoins you have purchased will be placed. You will then receive, by email, the serial number of the wallet and a secret password. YOU ARE THEN ADVISED TO CHANGE THE PASSWORD OF THE WALLET IMMEDIATELY TO A NEW PASSWO RD. You understand and agree that once Bits of Gold has sent you the password and Serial number of the wallet it has created for you, it is not responsible for the wallet and has no control over your wallet. Bits of Gold is not and will not be responsible of any damages or loss in relation to your wallet or your Bitcoins. You are responsible for the security and integrity of your own w allet/ s . Bits of Gold is not responsible for payments made to an incorrect Wallet address or an incorrect bank account by yo u.
RESTRICTIONS & PROHIBITIONS
Without derogating from any provisions of this Agreement, t he following prohibitions apply to using the Services: You shall not use the Services connected with violating any applicable law or regulation, or doing anything th at promotes the violation of any applicable law or regulation; Except where permitted by law or relevant open-source 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, or any part or any modification or derivative work of the Services ; You shall not u se the Services to design or assist in designing cheats, exploits, automation software, bots, hacks, mods or any other unauthorized thir d-party software to modify or interfere with the Services; You may not i nstitute, 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 t ransmit unauthorized communications through the Services, including junk mail, chain letters, spam and any materia ls that promote malware, spyware and downloadable items; You shall not u se 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 Service s; You shall not b ypass 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 manipulat e data; You shall not u se, 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 pr ograms, tools, or software not approved in writing by Bits of Gold ; You shall not p ost 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 a ttempt to, or harass, abuse, or harm of another person, group, including Bits of Gold employees and customer support representatives; You may not s olicit or attempt to solicit personal information from other users of the Services ; You may not c ollect, harvest or post anyone ’ s private information, in any media format, through the Services; You shall not m ake available through the Services any material or information that infringes any copyright, trademark, patent, trade secret, rig ht of privacy, right of publicity, or other right of any person or entity or impersonates any other person ; You shall not c opy, modify or distribute rights or content from the Services, or Bits of Gold ’ s copyrights or trademarks or use any method to copy o r distribute the content of the Services except as specifically allowed in this Agreement; and
TERMINATION OF ACCOUNT AND SERVICES
Any use of the Services that violates this Agreement is strictly prohibited and can result in the immediate revocation of yo ur limited right granted by this Agreement. Without limiting any other remedies, Bits of Gold may limit, suspend, revoke, terminate, modify, or delete your Account or access to the Services if you are, or Bits of Gold suspects that you are, failing to comp ly with this Agreement or for any actual or suspected illegal or improper use of the Services or if Bits of Gold believe s that you are creating risk or possible legal liabilities, infringing the intellectual property rights of third parties , with or withou t notice to you. 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, at which point your right to use the Services shall be automa tically terminated or suspended. In such event, Bits of Gold shall not be required to provide refunds, benefits or other compensation to users connected with such discontinued elements of the Services . Upon termination of your Account, you can lose your user name. You hereby acknowledge and agree that Bits of Gold is under no obligation to compensate you for any such losses or results, whether such closure was voluntary or involuntary.
The Ser vices and all of the content that appears in the Services , including without limitation, the use of the Service ’ s name, server software, web technologies, source code, concepts, artwork, photo s , animations, sounds, methods of operation, moral rights, docum entation, and v irtual Items, is 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 all of the content that appears in the Services, and all intellectual property rights relating thereto, including without limitations all copyright, patent, trademarks, logos, design rights and any other proprietary rights connected with the Services. Notwithstanding any pro vision to the contrary herein, you agree that you have no right or title in or to the Services and/or to any content that appears in the Services . Bits of Gold ’ s name and logo, and any other trademarks included in the Services and/or appear in the Services , are trademarks of Bits of Gold . All third party product names that may legitimately appear in the Services 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 pr ovision of this Agreement or by anything on the Services, and all rights in such names, marks or logos is reserved to Bits of Gold and their respective owners Notwithstanding anything to the contrary herein, you agree that you shall have no ownership or ot her property interest in an Account. You further agree that Bits of Gold owns all rights in and to an Account. Generally, Accounts created with Bits of Gold shall be considered active Bits of Gold receives a user request to deactivate or delete them. Howev er , Bits of Gold reserves the right to terminate any Account that has not been active for 180 days.
LINKED SITES; ADVERTISING
THE SERVICES ARE PROVIDED TO YOU 'AS IS' AND WITHOUT WARRANTIES OF ANY KIND EITHER EX PRESSED 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, LICEN SEES OR LICENSORS (COLLECTIVELY, ' B ITS OF GOLD PARTIES ') RE PRESENT OR WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED , ERROR-FREE, OR FREE FROM VIRUSES OR OTHER HARMFUL COMPONENTS. YOU AGREE THAT USE OF THE SERVICES IS AT YOUR SOLE RISK . SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERT AIN IMPLIED WARRANTIES. ACCORDINGLY, SOME OF THE ABOVE L IMITATIONS MAY NOT APPLY TO YOU.
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, I NCIDENTAL, CONSEQUENTIAL (INCLUDING FOR LOSS OF PROFITS, LOST BUSINESS OPPORTUNITIES, LOSS OF GOODWILL, LOST OF 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 AGREEMENT, 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 NEITHE R 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 OTHER USERS OF THE SERVICES AND OPERATORS OF EXTERNAL SITES, AND THAT THE RISK OF THE SERVICES AND EXTERNAL SITES AND OF INJURY FROM THE FOREGOING RESTS ENTIRELY WITH YOU. 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 LAW .
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 B its of Gold Party as a result of , or in connection with , or in any manner related to (i) your use of the Services; (ii) your failure to comply with the Agreement or any violation by you of this Agreement 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 of this Agreement.