Terms of Service

Here comes the required text of what we offer through the service, a bit about the risk of crypto currency, withdrawal and availability before we round off with a mandatory section about abuse.

1 INTRODUCTION

Thank you for choosing Bitcoins Norge AS (hereinafter referred to as "BTCN", "we", "us" or similar) and BitcoinsNorway.com ("the website"). By using the website and our services, you confirm being 18 years or older and you accept and will comply with these terms of services. We advise that you carefully review these terms of service before using BTCN services. Our services are meant for companies and private persons ("Investor", "you" or similar) who want to invest in Digital Currencies. We assume that Investor hold or obtain sufficient knowledge about Digital Currencies to make substantiated investment decisions and consider the risk related to investing and trading with Digital Currencies.

2 THE SERVICES BEING OFFERED

Our business model and our services is to facilitate for the trade of Bitcoins and other digital currencies, approved of our services by BTCN at its sole discretion (hereinafter referred to as the collective term "Digital Currencies"). The services offered by BTCN allow the users to trade Digital Currencies with each other and by that exchange the value of Digital Currencies in currency. The service also allows registered users of the service to transfer Digital Currencies to other members or other users of Digital Currencies, as well as transfer Digital Currencies in and out of our platform. BTCN, its shareholders or its employees are free to make use of the services, or other services for Digital Currencies trading, to trade Digital Currencies at the same terms as other users. Our bank suppliers, which we use to receive money and carry out payments, neither transfer nor deliver services in connection with Digital Currencies.

3 RISKS RELATED TO TRADING WITH DIGITAL CURRENCIES

Any currency, including Digital Currencies, are exposed to great fluctuation in value. Thus, considerable risk is involved when trading Digital Currencies. In consideration to the general risk associated with official currencies or goods in a market, the risk related to investment in Digital Currencies is exceptional. Digital Currencies are carried by trust and a technology in development. The majority of currencies are regulated by authorities or other legal entities, however in the event of a crisis, no central banks carry out preventive actions to protect the value of Digital Currencies. Therefore, Digital Currencies may become worthless. Hence, you should carefully consider if your economic position and risk allowance correspond with purchase and sale of Digital Currencies.

4 REGISTRATION AND TRADING

To trade Digital Currencies via BTCN, you must create a user account with us and transfer money to this account to trade with. You can transfer Digital Currencies to your user account. You may only create one account, and it is not permitted to use any other account than your own. BTCN answer only for currency deposits which at all times exist on your account with us. You are responsible for storing your Digital Currencies in a safe manner and carry the full economic liability after your deposit has been exchanged to Digital Currencies. If you discover errors or defects related to your account information or balance, you are obligated to immediately inform BTCN of such errors or defects.

You commit to register correct information in accordance with the requests in the registration process. It is your responsibility to keep such information updated. You are obliged to keep your account information secret, including your password. The password shall consist of at least eight characters and include both special characters, numbers and one capital and small letter. You commit to the usage of a unique password that is not used by you for any other respect. BTCN is not liable for loss suffered due to you stating wrongful account information or sharing secret account information.

5 WITHDRAWAL OF CURRENCY

When withdrawing currency, you will be asked to state the bank account number you would like the currency transferred to. You are responsible for providing correct bank account information and we cannot be liable for any loss you might suffer due to providing wrongful information. We are obligated to apply customer control in connection with withdrawal related to Digital Currencies, and we will therefore require submission of identification papers along with one document confirming your address, for example a letter from the authorities, before you can make withdrawal of currency. The same applies to withdrawals or transfers of Digital Currency. We will start the payment process without undue delay. However, BTCN is not responsible for delayed payment due to delay by their own or the recipient's bank.

6 AVAILABILITY OF THE SERVICES

All services provided by BTCN is delivered "as is" without any form of guarantee. We cannot guarantee that our services will be available at all times. We will do our best to ensure that the access shall be as good as possible, but we cannot guarantee that delays, error to the services, loss of data, downtime, negligence etc. will not occur.

7 MISUSE OF THE SERVICES

The services can only be used for legal purposes and legal trade of Digital Currencies. Any usage of the services that does not correspond with Norwegian law, good business practice or our terms of services is prohibited. This includes that you cannot interrupt the services or acquire unlawful access to the services by using methods that are not included in the user interface and or the instructions for usage of the services.

You also confirm that you will not make use of the services to carry out, facilitate, arrange for or in any other way contribute to illegal activity, hereunder laundering, illegal gambling/gaming, terrorist financing and tax evasion. Your account may be frozen if requested by public authorities or in connection to investigations of illegal activities. We decide, in our sole discretion, if such request shall be met, and may dos so even if we do not have a clear or final legal obligated to so.

Furthermore, we can suspend or seize to deliver the services to you if you do not comply with the terms of services or if we suspect illegal conduct. If we discover suspicious activity in connection to your account we can demand that you provide us with information that confirms that you have given us the correct information regarding your identity.

BTCN will cooperate with public authorities and contribute to unveil illegal activities and therefore unconditionally reserves the right to provide such authorities with information that has been requested.

In the event that you do not comply with the criteria in this section we may terminate your customer relationship and you may be held liable for loss suffered by BTCN and/or other users. In the event that you discover unauthorized use of your account you are obligated to immediately inform BTCN of such by using the contact form.

8 LIMITATION OF LIABILITY

To the extent permitted by applicable law, BTCN cannot be held responsible for financial loss, including loss of profit, income, earnings or such possibility – whether direct or indirect. BTCN can by this not be held responsible for downtime, functional errors, interruptions, the circumstance that the account irrespective of reason is frozen or closed or the fact that our website, regardless of cause, is not available. BTCN's total liability to your claims against BTCN which originate from, or are related, to your use of the services shall be limited to your originally deposited funds.

9 CHANGE OF AVAILABLE DIGITAL CURRENCIES

BTCN reserve the right to at any time, and at our own discretion, change which Digital Currencies that may be traded via our services. In the event of a change, we will aim to notify of such change through our website or other media within reasonable time before the change come into force.

10 DEPOSITS AND WITHDRAWALS

BTCN reserve the right to refuse deposits which we are not able to offer sufficient security for or which we do not have capacity or systems to handle. BTCN may manage deposited Digital Currencies to proprietary trade. BTCN may introduce reasonable limitation on withdrawals per day or per transaction.

11 INDEMNIFICATION

You accept to protect, defend and indemnify BTCN against any losses, expenses, damages and costs, including reasonable costs to legal assistance, following your violation of these terms of service or any prevailing legislation. Furthermore, you undertake to indemnify BTCN against any claim being raised following your violation of these terms of service, legislation or third party rights.

12 INVESTMENT ADVICE

BTCN does not offer investment advice in relation or connection with the services being referred to in these terms of service. We may, for example by publication of newsletters, provide information regarding price, extent, volatility and events having influenced the price of Digital Currencies, but this is general information or our general understanding of such events. Such newsletters are not and cannot be interpreted as advice for any particular Investor or as investment advice regarding Digital Currencies.

BTCN disclaim liability for any loss that users claim to have suffered due to having relied on such or any other information from BTCN. Any decision to purchase or sell Digital Currencies are Investor's independent decision and BTCN has no liability for potential that the user might suffer in this regard.

13 TERMINATION OF ACCOUNT AND CUSTOMER RELATIONSHIP

You can terminate your customer relation with us by closing your account, or by contacting us via the contact form at our website. Furthermore, you accept that BTCN, without prior notification, and on any basis, may suspend access to your account or website. You also consent that we, at our own discretion, can change or shut down the services and/or the website. You consent to not hold BTCN liable towards yourself and/or any third party in a situation where your account is deleted, the access is closed or the services/website is being changed or closed down.

If, for any reason, our services or your account are closed down, you are obliged to inform which bank account number you would like potential outstanding assets transferred to (any fees to be deducted). In this conjunction, you also have an obligation to share information we ask you to, in order to identify that you are the rightful owner of the account. The assets will be transferred to you in accordance with normal procedure. If such bank account number is not informed of within ten working days or other circumstances prevent or distort our transfer of assets to you (including risk related to laundering), we will deposit the money in accordance with the Norwegian Deposit Act.

14 EXTERNAL WEB PAGES

BTCN may share links to external web pages, but is not responsible for any content at such external web pages. If you make use of other websites, either by directly following a link or through an API interface offered by or via us, you are obliged to evaluate and adhere to the terms and conditions of such external web pages.

15 LEGISLATION

The services we provide are currently not directly regulated by any dedicated laws or regulations in Norway. According to Norwegian law, Digital Currencies are not considered a financial instrument. Hence, BTCN take reservations that regulatory changes may take place and disclaim responsibility for any liability related to this. You are obligated to plan and comply with all relevant legislation concerning your involvement in Digital Currencies, including purchase, sale, use or trade. As a user, you are committed to comply with any regulations and, to relevant official authorities, report necessary information of importance regarding lawful taxation and payment of duties.

16 CHOICE OF LAW AND LEGAL VENUE

These terms of services and your customer relationship in BTCN are governed by Norwegian law. You agree to Stavanger district court as the sole and rightful legal venue for all disputes that arise because of, or in connection with, the terms of services or related to your customer relationship.

17 FEES

For further information regarding our fees, please see the fee information page at our website. The fees may be changed without prior notification, but such change will not have retroactive effect.

18 CHANGES TO THESE TERMS

BTCN reserves the right to change these terms of services at any time, and will in such event inform about this either at our website or by contacting you by e-mail. You will be responsible for reviewing the amended terms of services. Your continuous use of the series and/or the website imply that you have accepted all such changes.

19 CONTACT US

In case you have any questions regarding the terms of services, your rights and obligations according to these and/or your use of the website, the services, your account or other affairs, you are welcome to contact us via our contact form available at our website.

Correspondence regarding our services are confidential and shall not be published or distributed to third parties by neither us nor you. We may delete such correspondence being shared at our website or associated to our platforms, and we also reserve our right to shut down your account and customer relationship.