Terms of conditions

Bitupex.com cryptocurrency exchange is operating by Lithuanian company Bitis MB.

By accessing and using the Bitupex.com website by Bitis MB company, you acknowledge that you have read, understood and agreed to be bound by the Terms and Conditions. Furthermore, you accept that Bitis MB may, at any time and without any prior notice requirement, alter the Terms and Conditions. If you do not agree to the Terms and Conditions, do not access or use the website in any way whatsoever.

Website Ownership

Bitupex.com is the exclusive property of Lithuanian company Bitis MB. Bitis MB proprietary rights shall not be altered in any way by any reproduction or use of the website.

Exclusion of Liability

Bitis MB, their directors, officers, employees, agents or shareholders will not assume ANY LIABILITY FOR ANY LOSS OR DAMAGES WHATSOEVER, be they direct or indirect, incurred as a result of accessing the website or using the information and services available on the website, or as a result of the inability to access or use any information or services available on the website.

In particular, it is expressly stated that IN NO EVENT WILL Bitis MB, its directors, officers, employees, agents or shareholders BE LIABLE FOR ANY LOSS OR DAMAGES incurred as a result of errors, technical or otherwise, transmission failures, system overloads, usage problems, interruptions in services (including but not limited to system maintenance services), any delay in the transmission of information, incompatibility between the website and your files and/or software (in particular your browser) and/or computer, malfunction, interference, the transmission of a virus onto your computer, unauthorized access (as a result of hacking or piracy activities, for example), the willful blocking of telecommunications tools or networks (as a result of mail-bombing, denial of services attacks, for example) or any other failure or inadequacy on the part of telecommunication or network service providers.

You acknowledge and agree that Bitis MB services are provided on an 'as is' and 'as available' basis. You are aware that Bitis MB is not managing nor responsible of the crypto-currency associated blockchain. Bitcoins and other crypto-currencies You may access to, are not under Bitis MB management or responsibility. Bitis MB does not endorse Bitcoin in any kind whatsoever. By using Bitis MB services, you acknowledge that Bitcoin, Ether, or any other cryptocurrencies, are experimental alternative currencies which are currently under development and that their operation is not predictable.

Proper use of the website

You undertake to use Bitupex.com in a proper and reasonable manner, and not to misuse the website in any way or use it in such a way as might occasion, for example, the overloading of the website, any delay in the transmission of information, any interruption of service, blockage of access to the website or any other effect detrimental to Bitis MB or to the users of its website. In particular, it is forbidden:

• to effect e-mail-bombing or any denial-of-service attack (in particular flooding) or any similar attempt similar;
• to infect the website with any virus, worm, Trojan horse or other software, or any similar attempt;
• to gain or attempt to gain unauthorised access to the servers administering the website, or to circumvent or attempt to circumvent or to disable or attempt to disable the website's security features (hacking);
• to update the information provided on the website using automatic updating programs, e.g. such as are provided by other websites;
• to use offline readers or similar software, in particular such as would allow the mass downloading of data from the website onto your hard disk.

Should you undertake any of these actions, Bitis MB reserves the right to deny you access to the website, without any explanation.

Registration and Use of Your Activities on the Website

Please note that Bitis MB may record and analyze all of your actions on this site for security, system monitoring, management, marketing and compliance with the legal and regulatory requirements to which Bitis MB is subject. Bitis MB will store this information under the appropriate security conditions for a limited period of time.

Bitis MB will not pass on your personal information to third parties, except in the following special circumstances:

In compliance with the legal and regulatory obligations to which Bitis MB is subject by the Federal Act on Combating Money Laundering and Terrorist Financing (AML).

User Registration

• Using Bitis MB services requires registration to the website. The registration is free and is resulting, after acknowledgment of the current Terms and Conditions, in the creation of a User Profile.
• The submission and validation by Bitis MB of various documents, referred to in these Legal Conditions, is required for the purchase and sale of cryptocurrencies, as well as for the conversion of cryptocurrencies. There is no pre-existing registration fee. Bitis MB may refuse any registration without having to provide a reason, may exclude any registered user - including in cases of fraud, scams, forged securities or forged certificates - or may refuse to enter into any transaction. Banned users are not allowed to re-register on the Site. By doing so, these users may be subject to criminal prosecution.
• To register on the Site, you must be a natural or legal person. You must also be able to exercise your civil rights (be at least 18 years of age and capable of discernment). Persons under the age of 18 may not register on the Site. Every User Profile is unique, personal and non-transferable. The creation and use of multiple accounts by the same person is prohibited.
• When you register, the information you must submit to Bitis MB and the maximum amount you can buy or sell depends on your identification level.
• Bitis MB will never share your password with third parties and will never ask you for this information by email or by telephone. Any such request must be disregarded and reported to Bitis MB.
• You are not authorized to let anyone else access your account. You are responsible for all activities carried out with your account.
• You can delete your account at any time by making a request through Bitis MB Support.
• Bitis MB is required to keep records of transactions for five years. This period will start from the end of the execution of the transactions or, if more than one transaction forms a whole, from the end of the last transaction. Therefore, if you have made transactions, your account cannot be deleted. However, it will be disabled.

Terms of purchase of Crypto-currencies

You can create a purchase order by entering the desired amount and the currency of the payment. Choose the prefered payment method and follow the instructions displayed.

Prices are quoted in euros any other currency available for payment. Payment can be made by bank transfer (SEPA) on Bitupex.com. The exchange rate for cryptocurrencies is set at the time Bitis MB receives your payment and can therefore vary significantly. We would like to point out that a bank transfer may take between 1 to 3 working days before it reaches its recipient.

The transaction costs of the cryptocurrencies which will be transmitted to you are included in the basic price.

Your due diligence obligations when you place an order (purchase, sale or conversion):

WHEN YOU PLACE A PURCHASE ORDER

1. Minimum amount

You may not place a purchase order for less than the minimum amount indicated on Bitupex.com.

2. Prerequisites for purchase orders

You must place a purchase order before making a payment. Therefore, if you make a payment without a corresponding purchase order, your funds will be automatically returned. The bank fees will be charged to you. You may also be charged for administrative fees.

3. Difference between the amount shown on the purchase order and the amount actually collected by Bitis MB

You must pay Bitis MB the amount you have indicated in your purchase order. If the amount you pay is less or more than the amount shown on your purchase order, the equivalent in cryptocurrency will be automatically adjusted by Bitis MB, within the limit of your quotas and the minimum amounts indicated on Bitupex.com website. The bank fees will be charged to you. You may also be charged for administrative fees.

4. Address to be provided

To obtain payment of your cryptocurrency, you must provide Bitis MB with a cryptocurrency address that is valid and freely available to you. If you place a purchase order and provide Bitis MB with an address that is invalid or that does not belong to you - your funds will be lost. Bitis MB may perform searches to try to recover lost cryptocurrency, but will not be required to do so. These searches remain at Bitis MB discretion and may be performed when large amounts of money are involved. You will have to pay for the costs of the search, which will take into account the technical complexity and the time required for the search.

5. Reason for payment

When you use fiat currency to pay for Bitis MB, you must indicate the reason for your payment, using of the following type of reference: “XXXXXX”. If the above-mentioned reference does not appear on the payment order, your funds will be returned.

The bank fees will be charged to you and you may also be charged an additional administrative fee.

6. Cancellation of purchase orders

Purchase orders may be cancelled as long as the currency has not been received by Bitis MB. If you have sent the currency, but Bitis MB has not yet received it, your funds will be returned. The bank fees will be charged to you and you may also be charged an additional administrative fee.

WHEN YOU PLACE A SALE ORDER

1. Minimum amount

You may not place a sale order for an amount less than the minimum amount indicated on Bitupex.com.

2. Prerequisites for sale orders

You must place a sale order before making a payment. Therefore, if you make a payment without a corresponding sale order, your funds will usually be lost, unless Bitis MB is able to recover and return them. All requests to recover funds must be made through Bitis MB technical support. You may be charged for administrative fees.

3. Difference between the amount on the sale order and the amount actually collected by Bitis MB.

If the amount you pay is less or more than the amount shown on your sale order, the equivalent in foreign currency will be automatically adjusted by Bitis MB, within the limit of your quotas and the minimum amounts indicated on Bitupex.com. The bank fees will be charged to you. You may also be charged for administrative fees.

4. Address provided by Bitis MB

You must make the payment by transferring cryptocurrency to a single-use address provided by Bitis MB. If you send cryptocurrency to an address other than the one provided by Bitis MB, your funds will be lost, if Bitis MB does not hold the private keys for these addresses. Bitis MB may perform searches to try to recover lost cryptocurrency, but will not be required to do so. These searches remain at Bitis MB discretion and may be performed when large amounts of money are involved. You will have to pay for the costs of the search, which will take into account the technical complexity and the time required for the search.

5. Bank reference to be provided to Bitis MB

In order to receive your currency, you must provide Bitis MB with the reference of a bank account that is valid and which belongs to you. If you provide Bitis MB with an incorrect bank reference or one that belongs to a third party, your funds will be lost. Bitis MB may perform searches to try to recover lost cryptocurrency, but will not be required to do so. These searches remain at Bitis MB discretion and may be performed when large amounts of money are involved. You will have to pay for the costs of the search, which will take into account the technical complexity and the time required for the search.

6. Network fees

If the network fees chosen by the originator of the cryptocurrency (the customer) are too low or if the transaction is not confirmed on the corresponding Blockchain within one hour of the sale order, Bitis MB reserves the right to recalculate the exchange rate at the time the transaction is confirmed on the Blockchain.

8. Cancellation of the sale order

Sale orders may be cancelled, as long as the cryptocurrency has not been received by Bitis MB.

Place of Jurisdiction

The sole place of jurisdiction for all disputes arising out of or in connection with the Terms and Conditions stipulated herein and/or the use of the website is Lithuania. Bitis MB nevertheless reserves the right to initiate proceedings against you before the competent court at your domicile or any other competent authority.

Partial Nullity and Choice of Law

In the event of one of the Terms and Conditions being void, canceled or rendered otherwise invalid, the validity of the remaining Terms and Conditions shall not be affected or impaired. In all other instances, the Terms and Conditions as well as the use of the website are exclusively governed by and construed in accordance with Lithuanian law.