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Terms and Conditions

Bitit – Terms and conditions


The purpose of the present agreement (the “Agreement”) is a contract between Bitit SAS company (“Bitit" or "us" or "our" or "we") having its registered office in 20 rue du Banquier, 75013 Paris - France and registered with the Trade and company register of Paris, France under the number 810 222 513, and you (“You” or “Your”) to define the terms and conditions of use of (a) the Bitit website located at www.bitit.gift (“Website”), and any associated Bitit-hosted websites or mobile applications (collectively the "Bitit Site"), and (b) any of the services provided to you by Bitit (together with the Bitit Site, the "Bitit Platform").

By using the Website and/or subscribing to the Bitit Site, You agree to the present Agreement. Our policies, information, terms, disclosures, disclaimers, promotions and features may be revised, modified, updated and/or supplemented from time to time, by releasing a new version on the Website. If you do not oppose to this new version and keep using the Website the Bitit site or the Bitit Platform, you will be deemed having accepted such new version.

Please note the following risks of using Bitit Services:

You should be aware that the price or value of bitcoin, or any other Virtual Currency/Crypto Currency, can change rapidly, decrease, and potentially even fall to zero. You should carefully assess whether your financial situation and tolerance for risk is suitable for buying bitcoins.


1.Object

1.1 Bitit creates and develops a platform (the “Platform”) that allow You to buy Bitcoin through a Bitit code (the “Bitit code”) and allow You or a third party (the “Beneficiary”) to Redeem (“Redeem”) it against bitcoins. When redeeming the Bitit code you are buying bitcoins directly from Bitit. Bitit does not act as an intermediary nor as marketplace between other buyers and sellers of bitcoin nor as a Bitcoin Exchange. The Bitit Platform is subject to the Bitit «Bitcoin Exchange Rate» defined as the liquidity adjusted price of a given bitcoin amount in terms of local currency as quoted on the Bitit Website at the time of purchase or sale of the Bitit Code.

1.2 The Bitit code, once purchased on the Platform, needs to be activated on the Platform at which point You and/or the Beneficiary will be able to use it and redeem bitcoins based on the Bitit Bitcoin Exchange Rate. The Bitit Bitcoin Exchange Rate is not locked in at the time of purchase of the Bitit Code; instead, the Bitit Bitcoin Exchange Rate is guaranteed at the time You redeem your Bitit code.

1.3 To be eligible to use the Bitit Services, you must be at least 16 years old (or have the applicable age of majority and contractual capacity if you reside in a jurisdiction where the age of majority or contractual capacity is above 16 years of age). 1.4 The Bitit code may only be purchased for personal use, excluding any professional or speculative use.
2.Bitit Account

In order to use any of the Bitit Services, you must first register by providing an e-mail address, password, and providing identity information. Upon successful completion of the registration process, Bitit will establish your Bitit Account (“Bitit Account”).
We may, at our sole discretion, refuse to allow you to create a Bitit Account, or limit the number of Bitit Accounts that a single user may establish and maintain at any time.

2.1 Identity Verification - Step 1
You may purchase a Bitit code up to 25 € by providing the following informations:

  • Valid email address
  • Full Name
  • Date of birth
  • Phone number
  • Address
  • City
  • Postcode
  • Country
  • Phone number, which you will need to validate through a 4-digit PIN

2.2 Identity Verification - Step 2
If You wish to purchase more than 25 €, We will ask for the following documents:

  • Government ID — acceptable images of documents are: (a) international passport (double page) or (b) national ID card (both sides) or (c) driver's license (both sides)
  • A selfie of you holding your Government ID

We will ask you to complete an Identity verification process (”Identity Verification”). We will request you provide us with the above documentation in order to comply with local Anti-Money Laundering (“AML”), Counter Terrorist Financing (“CTF”) and Proceeds of Crime legislation and regulations.

The use of this documentation will be strictly governed by our Privacy Policy. Failure to provide this documentation once you reach the 25€ limit of purchases will result in your account being frozen until such documentation is received. We reserve the right to request full verification documents at any time.

Following submission of documentation during the Identity Verification process referred to above, we may need to verify the documentation submitted to us, including your age and address, and to do so, we may forward copies of the documentation and information including your name, address and date of birth to a third party to electronically verify these details.

2.3 You may choose to cancel Your subscription to the Bitit code within 14 days after completion of Your subscription as soon as the Bitit Code has not been redeemed. You expressly waive Your right of withdrawal According to Art. L. 121-21-8 . paragraph 13 of Law No. 2014-344 of 17 March 2014, The right of withdrawal may not be exercised for the supply contracts of a digital content not supplied on a tangible medium which implementation began after prior express consumer consent. Therefore any Bitit Code redemption in Bitcoins will be equivalent to a withdrawal right renunciation.


3.Validity and use

3.1 The Bitit code do not have an expiration date. However, We may change this term over time.

3.2 The Bitit code will be usable on the Website to obtain Bitcoins. The number of Bitcoins You will be able to obtain will depend on the current Bitit Bitcoin exchange rate, which is not fixed but displayed on the Website. Please note that in case of a third party exchange rate service disruption or obvious mistakes in the general Bitcoin exchange rate we reserve the right to rectify the rate, but will do so transparent manner.

3.3 Provisions of the present Agreement concerning the use of the Website shall remain applicable as long as You use the Website.

4.Order Process

4.1 Order Placement
Order Placement To buy the Bitit code, You need to sign up, select the desired amount, click « BUY NOW» on the Order Summary page. You will be redirected to our Payment checkout page, enter your payment details to finalize the order.

4.2 Order Acknowledgement
After finalizing Your order, We will send an e-mail with the Bitit code and the invoice of your order. Please ensure that You put in Your correct valid e-mail address, as otherwise You will not be able to redeem the Bitit code on the Platform.

4.3 Payments, Delivery
As soon as Your payment has been confirmed, We will send You instantly Your Bitit code by e-mail to the email address You used to create your Bitit Account.

4.4 Redemption
Once You have received Your Bitit code by e-mail, You are free to redeem it at any given time. You can see on the Redeem page the amount of bitcoins You will receive based on the current Bitit Bitcoin exchange rate. When redeeming the Bitit code, You will need to add your personal Bitcoin Wallet address. The bitcoins will be transferred to Your Bitcoin Wallet within 10 minutes or more, depending of the usage of the Bitcoin Network. Your funds will be 100% available for redemption into bitcoin at any given point in time.

4.5 Payments Processing
You hereby agree with our third-party’s payment processor terms of service found here which are incorporated herein by reference and gives no warranties and makes no claims about the Services.

4.6 Order Limits
Our funds are kept with fully licensed institutions. Bitit is committed to implementing and maintaining the highest standards of Know Your Customer (KYC) and Anti Money Laundering (AML) systems and procedures. In order to meet the Anti-Money Laundering regulations, Bitit requires a limit of 250€ per purchase order. Moreover, in order to meet the Know Your Customer (KYC) legal requirements, Bitit may require additional informations as described in the section 2 of the present Agreement. If Bitit suspects a transaction may involve (or has a high risk of involvement in) money laundering, terrorist financing, fraud or any other type of financial crime and criminal offense, Bitit, at its sole discretion, reserves the right to refuse to process, or to cancel any purchases of Bitit Code or redemption of the Bitit Code in Bitcoins.

4.7 Transaction Limits
Bitit may impose, at its sole discretion, limits on the value Bitit Code that you may buy in a given day, for one or more transactions. Bitit reserves the right to change this amount and consequently the number of bitcoins you may redeem, as we deem necessary or appropriate from time to time.

4.8 Legal Compliance
Pursuant to the economic sanctions programs administered in the countries where Bitit conducts business, Bitit is prohibited from providing services or entering into relationships with certain individuals and entities. In the event that Bitit is required to block assets associated with your Bitit Account in accordance with a sanctions program, Bitit may deactivate or cancel your Bitit Account or block user activity. Bitit is not responsible for any losses, whether direct or indirect, that you may incur as a result of our complying with applicable law, the guidance or direction of any regulatory authority or government agency, or any writ of attachment, lien, levy, subpoena, warrant or other legal order.

5.Bitit Rewards

Bitit Rewards is a Reward program that allows You to earn promotional Points and apply them to receive a discount on your future online Bitit Code purchases :

5.1 Acceptability, Participation.
You are automatically enrolled to participate in the Bitit Rewards program, although We reserve the right to limit participation in Our sole discretion.

5.2 Obtaining Points.
You may earn Points by buying a Bitit code. You may receive Points each time You make a purchase.

5.3 Points Balance.
Each time You earn Points, We will update your Points balance, which you can view by logging into your online account on the « Rewards » page. If We post Points to Your account for any activity that is subsequently voided or cancelled, We will remove those Points from Your account. If You believe that You have validly earned Points that have not been posted to Your account, please contact us at [email protected]

5.4 Redeeming Points.
The Points You earn may be applied toward future Bitit Code purchases. When you have reached 100 point or more, these may be redeemed to get a discount on your Bitit Code online purchase.

5.5 Expiration.
Unless We expressly state in writing otherwise, Points automatically expire at the end of the calendar year following the year in which such Points were earned or received (for example, Points earned in June 2014 will expire on December 31, 2015).

5.6 Restrictions.
Points cannot be purchased, resold, transferred, redeemed for cash or applied to any other account. We may limit the number of Points You can earn or use within certain periods of time or implement other restrictions on the receipt or use of Points. You acknowledge and agree that Points may be redeemed solely by Bitit and that Points do not constitute Your property.

5.7 Termination.
We reserve the right to suspend or terminate your participation in the Bitit Rewards program, and Your access to the Points in Your account, if You violate these Terms. We may also suspend, cancel or otherwise limit Your access to Points if We suspect fraudulent, abusive or unlawful activity associated with Your account. If We determine You fraudulently obtained Points or used fraudulently-obtained Points, We may revoke those Points and suspend or terminate Your account.

5.8 Adjustment to the Bitit Rewards Program.
We may change, suspend or terminate the Bitit Rewards program, or any part of it, at any time and in Our sole discretion. If We decide to terminate the Bitit Rewards Program, We will provide you with advance notice using the means of providing notice described above. Upon termination of the program, Points earned but not used by You will automatically expire.

5.9 Taxation.
It is Your responsibility for determining if You may be liable for any federal, state or local taxes as a result of earning or using any Points.

6.Referral Program

The Bitit Referral Program ("Referral Program") let You get a discount on your next Bitit Code purchase by referring Your friends through a link.

6.1 Using the Referral Program
Start by visiting the Rewards Page. From this page you can copy your referral link or send an invite email to a friend. Your friend can click the referral link (or the link in the email) and sign up for a Bitit account. If your friend purchases a Bitit Code with a value of 25€ or more You will automatically receive 100 Points on your account.

6.2 Terms of using the Referral Program
There is no limit to the number of friends you can refer, although we do reserve the right to adjust or change the referral program rules in the future. You can only use your discount when at least 100 points are reached. Referral links look just like a link to https://www.bitit.com except they have special code on the end to identify your account. For example: www.bitit.gift/?referral= We cannot guarantee Points payout on every account you refer due to risk of fraud, but we make a good faith effort to do so whenever possible. In addition, Bitit reserves the right to change the terms of the referral program at any time due to risk of fraud, or any other reasons. By participating in the referral program you acknowledge that receiving Points is not guaranteed by Bitit.

7.Bitit Affiliation program

Bitit's Affiliation program ("Affiliation program") lets You earn bitcoins by referring new users. You will earn up to 20% of Bitit's origination fee as a commission.

7.1 Using the Referral Program
Using Bitit's Affiliation program Place your affiliate link on your blog or any other website you might have.
Use one of the provided banners to address a specific audience.
Mention Bitit in your newsletter and use your affiliate link.
Share your affiliate link with your network on social media platforms.
Invite your friends & family via email.

7.2 Terms of using the Affiliation program
You can link to any individual Bitit page, such as the homepage, or anything else on Bitit.
You will earn bitcoins from users who :

  • Arrive to the site through your affiliate link, sign up and successfully buy Bitit Code to redeem bitcoins on Bitit

Your commissions will be paid each week to your personal Bitcoin address based on the daily Bitcoin exchange rate. The bitcoin transaction fees, if any, will be deducted from your commissions. The Bitit affiliation program works only with online purchases by credit card and Sofort Banking. Your 20% commission is based on Bitit origination fee of 9.8% Any foul play, such as misleading advertising, is forbidden. Bitit has the right to disable any affiliate user at any given time.


8.Taxation/Fees

8.1 20% Value Added Tax is included in all Transaction Fees as charged by Bitit according to French Tax Law. The VAT rate and amounts are clearly stated in the order summary and invoice. To see all applicable Bitit fees, please go to our Pricing page. Bitit does not assume liability for any mis-statement, omission or inaccuracy. If You access the Website from other countries, We advise You check with local authorities to ensure compliance with Your local tax obligations.

9.Intellectual property

9.1 All software, design, text, images, sound recordings, animations, trademarks (including “Bitit” and the Bitit logo) and other works included in the Website or the Platform are owned by Bitit or licensed by Bitit and no right shall be transferred to You or any third party. You are however allowed to access and use the Website and the Platform for Your own use and may print or copy extracts of the Website for reference only.

9.2 You shall not create link to the Website or the Wallet without prior written consent of Bitit.

10.Personal data

10.1 Bitit will collect and process information concerning You, including personal data, for the purpose of the provision and improvement of its services, including the Bitit Services, and to comply with applicable regulation.

10.2 You expressly authorize Bitit to transfer such personal data to its technical providers and to third-party services to the provision of its services and Bitit can transfer such data outside of the European Union.

10.3 Pursuant to the French data protection act (“Loi informatiques et libertés”) dated 6 january 1978, as amended in 2004, You may access and rectify information concerning You. For this purpose, please contact [email protected]

10.4 You may oppose to the processing of Your personal data for legitimate reasons.

11.Website Accuracy

Although we intend to provide accurate and timely information on the Website, the Bitit platform (including, without limitation, the Content) may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. In an effort to continue to provide you with as complete and accurate information as possible, information may be changed or updated from time to time without notice, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Website are your sole responsibility and we shall bear no liability for such decisions.

12.Computer Viruses

We shall not bear any liability, whatsoever, for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attack. We advise the regular use of a reputable and readily available virus screening and prevention software. Always log into your Bitit Account through the Bitit Website to review any transactions or required actions if you have any uncertainty regarding the authenticity of any communication or notice.

13.Marketing

13.1 Bitit will send You a newsletter to keep You informed on the development of the Platform and its other services. You will be able to unsubscribe and opt-out from this newsletter at any given time.

13.2 Unless expressly authorized by You, Bitit will not transfer any of Your personal data to third parties for commercial purposes.

14.Transfer and assignment

14.1 You are not allowed to sell, exchange or otherwise transfer the Bitit code to third parties except when offering it to the Beneficiary.

14.2 Bitit may transfer or assign any or all of its rights under the present T&Cs to an affiliate or any third party.

14.3 Law and Jurisdiction The present Terms and conditions shall be governed by French Law. When authorized by applicable regulation, French courts shall be competent in case of any dispute.

15.Contact

15.1 If You wish to receive any information on the Bitit code, the Website or Bitit’s services please contact us at [email protected]

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