TERMS OF SERVICE (“TERMS”)
Last Updated: October 25, 2016
Please read these Terms carefully before using Coin Cloud Services (“Services”). Your access to and use of the Services is conditioned on your acceptance of and compliance with these Terms. These Terms apply to all customers and others who access and use the Services.
By accessing or using the Services you agree to be bound by these Terms. If you disagree with any part of the terms then you may choose not to use or continue to use the Services.
1. GENERAL USE
- Coin Cloud Services allows customers to convert USD to bitcoin and vice versa. Coin Cloud will take a certain percentage of each transaction as compensation for performing these Services. The price at which Coin Cloud buys and sells bitcoin will be provided to you on the Coin Cloud Kiosk screen.
- Buying Bitcoin. To buy bitcoin, you will scan their desired bitcoin wallet at the Coin Cloud Kiosk (“Kiosk”). You will then insert the desired amount of USD into the Kiosk. The appropriate amount of bitcoin, minus any fees, will be sent to the scanned wallet.
- Buying Bitcoin Using the Paper Wallet Function. In lieu of scanning a digital, you may have the option of printing out a Paper Wallet. The Paper Wallet will show a QR code, which will contain the amount of bitcoin purchased. Warning: Do not throw away or lose this Paper Wallet before scanning it to another wallet, as it contains bitcoin. Coin Cloud will not repay you if you lose or throw away your Paper Wallet.
- Selling Bitcoin. To sell bitcoin, you will be prompted to send the appropriate amount of bitcoin to the address provided on the Kiosk screen. Once the bitcoin is confirmed received by Coin Cloud, you will be able to withdraw the appropriate amount of USD, minus any fees, at the kiosk.
- Delay in the Bitcoin Network. Confirmations on the Bitcoin Network could take time and in some rare instances could take hours, if not more. By using these Services, you understand that it could take time for the transaction to be completed due to these delays in the Network. You also understand that these delays are caused by the Bitcoin Network itself, not associated with Coin Cloud or its licensers.
- Miner Fees. To speed up the confirmation time, Coin cloud recommends that you attach a larger miner fee to the transaction. Any miner fees that are attached will be the sole responsibility and will be paid by you. Note: If a refund is necessary of requested, you understand that any miner fees will be subtracted from the total refund amount.
2. RISKS ASSOCIATED WITH BITCOIN.
2.1 The risks of trading or holding bitcoin can be substantial. You should carefully consider whether trading or holding bitcoin is a right financial decision for you.
3. COIN CLOUD ACCOUNT
3.1 Account setup. To be able to trade higher limits, it will be necessary for you to set up a Coin Cloud account. To set up an account, Coin Cloud may require you to input your phone number, take a picture at the Kiosk, and scan you government-issued ID.
3.2 Identity Verification. You hereby authorize Coin Cloud to directly, or through third-parties, to make any inquires necessary to verify your identity and to take steps necessary to protect against fraud and other illegal activity based on the results of such searches.
3.3 Account Information. You hereby authorize Coin Cloud to store your account information. You also authorize Coin Cloud to use your account information to help protect against fraud and other illegal activity.
3.4 Termination or Suspension of Account. Coin Cloud may terminate or suspend access to its Services at any time, without prior notice or liability, for any reason whatsoever, including without limitation, if you breach the Terms. All provisions of the Terms, which by their nature survive termination, shall survive termination, including, without limitation, ownership provision, warranty disclaimers, indemnity and limitation of liability.
4. PROHIBITED USE
4.1 In connection with you use of these Services, you agree and represent that you will not engage in any illegal use. Coin Cloud reserves the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process, or government requrest.
5. LIMITED LICENSE.
5.1 Coin Cloud grants you a limited, nonexclusive, nontransferable license, subject to these Terms, to access and use the Coin Cloud Kiosk and its Services. Coin Cloud grants the right to use its Services solely for approved purposes as permitted by these Terms and Coin Cloud from time to time. Any other use of these Services is expressly prohibited and all other right, title, and interest in or arising out of these Services is exclusively the property of Coin Cloud and its licensors. You agree that you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale or, create derviate works from, or in any other way exploit any of the Services, in whole or in part. All logos related to Coin Cloud and its licensors or displayed on the Kiosk are either trademarks, registered marks , or associated with Coin Cloud or its licensors. You agree not to copy, imitate or use them without Coin Cloud prior written consent.
6. GENERAL PROVISIONS.
6.1 LIMITATION OF LIABILITY; NO WARRANTY. IN NO EVENT SHALL COIN CLOUD, ITS AFFILIATES, AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES OR REPRESENTATIVE BE LIABLE A) FOR ANY AMOUNT GREATER THAN THE VALUE OF THE TRANSACTION AT THE KIOSK OR B) FOR ANY LOST PROFITS OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE SERVICES OR THIS AGREEMENT, EVEN IF AN AUTHORIZED REPRESENTATIVE OF COIN CLOUD HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
SOME JURISDICTIONS DO NOT ALLOW FOR THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES SO THE ABOVE LIMITATION MAY NOT APPLY TO YOU.
THE COIN CLOUD SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS, IMPLIED OR STATUTORY. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, COIN CLOUD SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND/OR NON-INFRINGEMENT. COIN CLOUD DOES NOT MAKE ANY REPRESENTATIONS OR WARRANTIES THAT ACCESS TO THE SERVICES OR ANY MATERIALS CONTAINED THEREIN, WILL BE CONTINUOUS, UNINTERRUPTED, TIMELY, OR ERROR-FREE.
COIN CLOUD MAKES NO REPRESENTATIONS OR WARRANTIES ABOUT THE AMOUNT OF TIME NECESSARY TO COMPLETE THE TRANSACTION WHICH IS DEPENDENT UPON MANY FACTORS OUTSIDE OF COIN CLOUD’S CONTROL.
6.2 Amendments. From time to time, it may be necessary for Coin Cloud to amend or make changes to these Terms. As such, you should review these terms periodically.
6.3 Governing Law. Notwithstanding conflict of law principles, any dispute arising out of these Services will be governed by the laws of the state of Nevada.
6.4 Assignment. You may not assign any rights and/or licenses granted under this Agreement. We reserve the right to assign our rights without restriction, including without limitation to any Coin Cloud affiliates or subsidiaries, or to any successor in interest of any business associated with the Services. Subject to the foregoing, these Terms will bind and inure to the benefit of the parties, their successors, and permitted assigns.