Terms & Conditions


By using the website www.buyucoin.com (“Website”), and further by registering to avail the services offered by the Website (“Service”), you are hereby agreeing to accept and comply with the terms and conditions of use stated below (“Terms of Use”). You should read,agree, and accept the entire Terms of Use prior to your use of this Website or any of the Service. You are hereby expressly barred from accessing the Website or availing the Service unless you agree and accept to these Terms of Use.

As used herein, “BuyUcoin or Company” refers to the holding company of BuyUcoin being BuyUcoin Technologies Private Limited (‘Company’), a private limited company incorporated under the laws of India and having its registered office at 87, Collector Ganj 4th floor, Railway Road, Hapur-245101, India its owners, directors, investors, employees or other related parties. Where the context so permits, Depending upon context, “BuyUcoin” may also refer to the services, products, website, content or other materials (collectively, “Materials”) provided by the Company.

Service

The Service operated by Company in the name of BuyUcoin allows buyers (“Buyers”) and sellers (“Sellers”), to buy and sell Bitcoins (for more information on Bitcoins, please refer to http://www.bitcoin.org).

The Service provided BuyUcoin also allows all registered users of the Service (“Members”) to:

1. transfer Bitcoins to other Members or other users of Bitcoin outside the Website,
2. send and receive Bitcoins,
3. purchase and sell Bitcoins, and
4. use Bitcoins for purchasing goods.

It is possible that the laws in the country where the user resides do not allow the usage of an online tool with the characteristics of Bitcoin or any of its features. BuyUcoin does not encourage the violation of any laws and cannot be held responsible for violation of such laws.It is your responsibility to follow the laws of your country of residence and/or country from which you access this Website and the Service. As long as you agree to and comply with these Terms of Use, BuyUcoin grants to you a personal, non-exclusive, non-transferable, non-sublicensable, and limited right to enter and use the Website and the Service.

Taxes

It is your responsibility to determine, collect, report, and submit any taxes applicable to the payments you make or receive in connection with the use of the Website and the Service to the appropriate tax authority. BuyUcoin is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.

Identity verification

To comply with AML/KYC recommendations, we require our clients to verify their identity by providing scanned copies* of the following**:

1. PAN card (mandatory),
2. Photo identity (which could be avalid passport, Aadhaar card),
3. Bank Passbook photo (mandatory), and

*Copies should be in color and a good resolution.
** The above documents provided by the clients shall be kept on the server safely and the Company shall not disclose the same to any third party unless we are mandated to do so under the provisions of any applicable laws.

BuyUcoin may use your personal information:

1. To identify you
2. To process transactions,
3. To send periodic emails with updates, promotions, company news, and notices regarding changes to policies,
4. Customize, measure, and improve BuyUcoin Service and the content and layout of our Website and applications,
5. To analyze use of the Website,
6. Prevent potentially prohibited or illegal activities, and
7. To undertake a verification of your identity with third party electronic identification providers.

Notwithstanding anything contained in these terms of use, the Company shall be free to transfer/ disclose any information shared by you with the Company, to a related party or to an affiliate or to any entity controlled by the promoters of BuyUcoin. We may also transfer your information during sale of assets or business to another company, de-merger into another company, while getting acquired by another company or getting merged with another company.

By opening an account to use the Service (“Account”), you expressly represent and warrant that:

1. You have accepted these Terms of Use;
2. You do have read and understood the information provided by the Website through its How-it-works and Resources section; and
3. You are at least 18 years of age and have the full capacity to accept these Terms of Use and enter into a transaction involving Bitcoins.

Risks

The use of the Website and the Service may entail the following risks:

1. Bitcoin transactions are technically irreversible once it hits the network. The Bitcoins you buy will be sent to your BuyUcoin wallet or to your own Bitcoin address provided. If you lose or delete your own bitcoin wallet, you will lose your Bitcoins in it and the same cannot be restored. The Bitcoin wallet address provided to you by BuyUcoin is only a way for you to deposit or accept bitcoin into your BuyUcoin wallet. The owner of these Bitcoin wallet addresses will be BuyUcoin and the out going transactions from these Bitcoin wallet addresses will not be related to you or to your BuyUcoin account. When you send out Bitcoin from BuyUcoin wallet to other Bitcoin address, the “From” address for such Bitcoin transaction will be a temporary address and it wont be same as the Bitcoin wallet address provided to you. If there are any chances of reversals or pay-back for a Bitcoin transaction you initiated from BuyUcoin, it will be your responsibility to explicitly provide your Bitcoin address provided by BuyUcoin to receive such Bitcoin payment. Any Bitcoin that is not send to your BuyUcoin provided Bitcoin wallet address cannot be claimed to be from you. You also can neither request any reversals of such transaction nor request for the credit of those Bitcoin into Bitcoin balance in your account at BuyUcoin.

2. Bitcoin value tends to fluctuate on a minute to minute basis, due to which there may be increase or decrease in the value of the Bitcoins. Bitcoins are subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading in Bitcoins.

3. Bitcoin is an as-yet autonomous and largely unregulated worldwide system of value transfer between individuals. It is not backed by any government or commodities and hence may be susceptible to risks not generally associated with government or central bank backed currencies.

4. There is also the risk of loss of confidence in Bitcoin trading, which could collapse demand relative to supply. For example, confidence might collapse in Bitcoin because of unexpected changes imposed by the software developers, the creation of superior competing alternatives, a deflationary or inflationary spiral, or due to governmental actions. Confidence might also collapse because of technical problems, for instance, if the anonymity of the system is compromised, or if any entity is able to prevent any transactions from settling.

5. There may be additional risks that we have not foreseen or identified in these Terms of Use.

You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.

We use our banking service providers only for the receipt of client moneys and making payments. Our banking service providers do not transfer Bitcoins, exchange Bitcoins, or provide any services in connection with Bitcoins.

Limited Right of Use

Unless otherwise specified, all Materials on this Website are the property of the Company and are protected by copyright, trademark, and other applicable laws. You may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.

The trademarks, service marks, and logos of BuyUcoin and others used in this Website (“Trademarks”) are the property of the Company and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to Company. The Trademarks and Materials 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 such Materials on any other website or networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties.

Maintaining Your Account: Our Rules

The Website is for your personal and non-commercial use only. We are vigilant in maintaining the security of our Website and the Service. By registering with us, you agree to provide Company with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree that you will not use any Account other than your own, or access the Account of any other Member at any time, or assist others in obtaining unauthorized access.

The creation or use of Accounts without obtaining the prior express permission from Company will result in the immediate suspension of all said Accounts, as well as all pending purchase/sale offers. Any attempt to do so or to assist others (Members or otherwise), or the distribution of instructions, software or tools for that purpose, will result in the Accounts of such Members being terminated, in addition to BuyUcoin, at its sole discretion, initiating any civil or criminal legal action against you and such others.

You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own Bitcoin, and for all activity including transactions that are posted to your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, otherwise BuyUcoin, at its sole discretion, may choose to terminate your Account. You are required to notify BuyUcoin immediately of any unauthorized use of your Account or password, or any other breach of security by an email addressed to [email protected] The membership of a Member who violates these rules may be terminated, and further be also held liable for losses incurred by Company or any user of the Website.

You hereby agree that you shall not use the Website or our Service, in connection with any activity violating any law, statute, ordinance, or regulation. Further, you shall not deposit Bitcoins into your BuyUcoin wallet that is obtained through illegal activities and you will also not use the Service to perform an illegal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. Source of Bitcoins paid to your BuyUcoin wallet is not known to BuyUcoin and you hereby agree to ensure that it always comes from legitimate sources. BuyUcoin only acts as information intermediary as far as your BuyUcoin wallet is concerned. In case of any technical or manual error that happens from BuyUcoin, the Company will take the steps to do the needed corrections including the involved transactions and/or records and will intimate you about the correction in the timely manner. If such correction create a liability on you, then you will be required to clear that liability and keep your account in good standing failing which the Company can take technical and legal actions against you to recover the liability.

Termination

You may terminate this agreement with Company, and close your Account at any time, following settlement of any pending transactions.

You agree that Company may, by giving notice, in its sole discretion, terminate your access to the Website and to your Account; including without limitation, suspending or terminating the Service and Members’ Accounts, prohibiting access to the Website and its content, services and tools, delaying or removing hosted content, and taking technical and legal actions to keep Members off the Website if we reasonably perceive that such Members are creating any problems, including without limitation, possible legal liabilities, infringement of the intellectual property rights, or acting inconsistently with the letter or spirit of these Terms of Use.

Notwithstanding the above, we may, in appropriate circumstances and at our sole discretion, suspend or terminate Accounts of Members for any reason, including without limitation (1) attempts to gain unauthorized access to the Website or another Member’s account or providing assistance to others’ attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of these Terms of Use, (5) failure to pay or fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by BuyUcoin, acting in its sole discretion.

We also reserve the right to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue our Website or Service. Members agree that BuyUcoin will not be liable to them or to any third party for termination of their Account or access to the Website.

You hereby agree that the suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members will receive any monies owed to them via their registered bank account with BuyUcoin.

Assignment

You acknowledge and agree that the Company can freely assign these Terms of Use or any of its rights under these Terms of Use to any person without your consent. You  shall however, not be entitled to assign these Terms of Use, in whole or in part, to another person without the prior written approval of the Company.

Availability

All Services are provided without warranty of any kind, either express or implied. While we strive to provide you with the uninterrupted Service, we do not guarantee that the access to this Website will not be interrupted, or that there will be no delays, failures, errors, omissions or loss of transmitted information.

We will use reasonable endeavors to ensure that the Website can normally be accessed by you in accordance with these Terms of Use. We may suspend use of the Website for maintenance and will make every effort to give you reasonable notice. You acknowledge that such notice, however, may not be possible in case of an emergency.

External Websites

The Website may provide links or other forms of reference to other websites (“External Websites”) or resources over which we may not have control. You acknowledge that BuyUcoin is providing any such links or references of External Websites or resources to you only as a convenience and that BuyUcoin makes no representations whatsoever about any External Websites which you may access through this Website, including such External Websites being free of such items as viruses, worms, Trojan horses, and other items of a destructive nature. BuyUcoin is not responsible for the availability of, and content provided on any External Websites. You are requested to review the policies posted by such External Websites regarding privacy and other topics before use. BuyUcoin is not responsible for third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.

Financial Advice

We do not provide any investment advice in connection with the Service contemplated by these Terms of Use. While we may provide information on the value, range, volatility of Bitcoins, and events that may affect/have affected the value of Bitcoins, this is not considered investment advice and should not be construed as such. BuyUcoin will not be liable for any loss suffered by you in connection with any transaction involving Bitcoins.

Financial Regulation

Our business model, and our Service, consists of facilitating the buying, selling, sending and receiving of Bitcoins, and their use to purchase goods in an unregulated yet responsible, international open payment system. The Service we provide is currently unregulated within India.

Email

Email messages sent over Internet are not always secure and BuyUcoin is not responsible for any damages incurred by the result of sending email messages over the Internet. We recommend sending sensitive emails by visiting ‘contact-us’ form on the Website where the information passes under security layer and is encrypted.

Jurisdiction

These Terms of Use shall be governed and construed in accordance with the laws of India. The parties agree to irrevocably submit to the exclusive jurisdiction of the courts in Bangalore for the resolution of any disputes arising from these Terms of Use. BuyUcoin may also consider arbitration as the appropriate mechanism for dispute resolution.

Limitation of Liability

Users of this website are responsible for their actions in connection with the use of the Website, Service, and their Accounts. Users are also responsible for protecting access information to the Website including, but not limited to, user names, passwords, and bank account details. BuyUcoin is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to the Website. Some deposits and withdrawal methods require BuyUcoin to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that BuyUcoin can use these information to facilitate deposits and withdrawals.

The parties agree that in no event shall BuyUcoin or its affiliates, officers, directors, agents, employees, and suppliers be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with the use of our Website, Service, or these Terms of Use.In case the applicable laws do not permit the limitation or exclusion of damages as described above, our aggregate liability (including the liability of our affiliates, officers, directors, agents, employees, and suppliers)in respect of claims based on events arising out of or in connection with any single member’s use of the Website, whether in contract or tort or otherwise, shall in no circumstances exceed the amount of the transaction(s) that are the subject of the claim less any amount of commission that may be due and payable in respect of such transaction(s).

Indemnity

To the full extent permitted by applicable law, you hereby agree to indemnify BuyUcoin, and its affiliates, officers, directors, agents, employees, and suppliers against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of the Website, Service, or from your violation of these Terms of Use.

Miscellaneous

If we are unable to perform the Service outlined in the Terms of Use due to factors beyond our control including but not limited to an event of force majeure, change of law or change in sanctions policy we will not have any liability to you with respect to the Service provided under these Terms of Use and for a time period coincident with the event.

Modification of Terms

BuyUcoin reserves the right to change, add or remove portions of these Terms of Use, at any time, in an exercise of its sole discretion. You will be notified of any changes in advance through your Account inbox. Upon such notification, it is your responsibility to review the amended Terms of Use. Your continued use of the Website and Service following the posting of a notice of changes to the Terms of Use signifies that you have accepted and agreed to such changes, and that all subsequent transactions by you will be subject to the amended Terms of Use.

Contact Us

If you have any questions relating to these Terms of Use, your rights and obligations arising from these Terms of Use and/or your use of the Website and the Service, your Account, or any other matter, please contact us at [email protected]