TERMS & CONDITIONS
Trading Terms & Conditions
These terms and conditions (Terms) form a binding legal agreement between the customer (you, your) and Bitcoin Babe PTY LTD ABN 16 613 688 707 (we, us, our).
1. Our Service
1.1 We do not sell our own Cryptocurrency. We provide buyer's agency services (Services), to allow you to quickly and easily buy/sell Cryptocurrency at a fair market rate, through peer 2 peer services, which include, but not limited to localbitcoins.com, localcoinswap.com and bitcoin-babe.com (Website).
1.2 Because we source Cryptocurrency for you as your agent, and do not sell you our own Cryptocurrency, we are not required to charge you GST on the value of the Cryptocurrency, unless otherwise specified.
1.3 By sending us a trade request on the Website, you agree to be bound by these Terms, which govern all aspects of our trade with you (Trade).
1.4 These Terms only apply to your buying/selling Cryptocurrency through us through the Website. We do not control the Website, and may also be subject to other terms and conditions imposed by the operator of the Website.
2. How trading with us works
2.1 By sending us a trade request on the Website, you are requesting to use our Services.
2.2 The price quoted in our advertisements is a total price which includes our Commission, unless otherwise specified (see section 5 below for more detail on our Commission).
2.3 Once you have sent us a trade request, the website will confirm the amount of the trade in both Cryptocurrency and the designated currency on our behalf. This amount is non negotiable, and cannot be changed once the trade request has been sent.
2.4 Once you have sent us a trade request, the Website will automatically confirm that our Cryptocurrency wallet contains at least the amount of Cryptocurrency for the trade, and will hold this amount in escrow until such a time where your identity is verified and the payment can be confirmed
2.5 We offer a number of different payment methods which contain specific requirements and requests in order to comply with our KYC/AML/CTF Policy. These requirements are displayed in the “Trade Terms” section of the listing, and are subject to change without notice.
2.6 Once you have confirmed your preferred method of payment and verified your identity (see section 3), we will provide details for payment, or, provide payment to you.
2.7 You must follow the procedures in section 3 exactly in order to pay for your Trade.
2.8 We reserve the right to reject your Trade if you:
a) do not follow the payment and identification procedure or fail to comply with additional requests;
b) use a TOR/VPN service;
c) attempt to procure any other person to pay for your Trade;
d) mark your Trade as paid before you actually pay.
e) we have reasonable suspicion the Cryptocurrency being sold or purchased is being done so with illegal or unethical intent.
2.9 If we reject your trade under clause 2.8, where payment has already been made in exchange of Cryptocurrency, you will be required to lodge a “trace and recall” with your financial institution, in order to get your funds back to the correct sending destination at your cost.
2.10 Where a trace and recall is not possible as per 2.9, a delay of up to 60 days may be placed on the return of your funds, where we deem necessary. This time excludes any delays incurred via 3rd parties. Any fees incurred during this process will be deducted from your total returned amount.
2.11 If we reject your trade under 2.8, where you intend to sell Cryptocurrency to us, your trade will be cancelled and your Cryptocurrency returned.
2.12 When buying Cryptocurrency, after you have initiated the payment for your Trade, you must mark your payment as paid, through the Website. Where selling Cryptocurrency, we will mark the payment as made, once payment has been initiated.
2.13 Once we receive confirmation from our payment provider that you have paid for your Trade, we will immediately acquire Cryptocurrency for you.
2.14 We will then immediately release the Cryptocurrency, once acquired, from our Cryptocurrency wallet on the Website to your Cryptocurrency wallet on the Website.
2.15 When selling Cryptocurrency to us, once you have confirmed that payment has been received in your designated account, you are to release your Cryptocurrency at your earliest convenience. Failure to do so may result in a dispute.
2.16 Refunds are not provided under any circumstances (unless the refund is being initiated due to a fault of our own, and at our discretion). Should you wish to re-obtain your Cryptocurrency or Fiat, you will need to do so by placing an order at the current advertised rate.
2.17 In the case of Special Customer Order's (hereon known as "SCO's"), intention to purchase or sell Cryptocurrency must be made in writing via any one of our communication channels.
2.18 Any price quoted to buy or sell Cryptocurrency as a part of our SCO service, is for indicative purposes only, and is not guaranteed until we have received either the full fiat amount, or the Cryptocurrency.
2.19 We may, at any time, partially, or fully waive point 2.18 at our discretion, and when safe to do so.
2.20 Once the funds or Cryptocurrency have been received, a final quote will be given. Once this quote is accepted, the order will be finalized, and delivered to you in a timely manner. No refund will be issued beyond this point (as per 2.16).
2.21 A full or partial refund may be issued at our discretion where:
a) A final quote was not accepted, or
b) An order was only able to be partially filled.
3. Initiating our services and Verification
3.1 You must make payment within 3 hours of making the trade request, unless otherwise specified.
3.2 Before payment can be initiated, the following information must be collected from you, via our website:
a) A copy of an ID document showing your name and photo (including, but not limited to a passport, drivers licence or proof of age card) and a secondary document showing at least your name and address or date of Birth by a Government source or a reputable institution (Including but not limited to, Medicare card, ATM card, A letter sent from an official source within the past 3 months) ;
b) provide your Australian mobile phone number (current and working).
c) provide your e-mail address (current and working).
d) If requested, a form of social media, to verify your online presence.
3.3 If you are in Australia with a foreign Passport (Not an Australian Citizen) you must provide proof of your address by submitting A letter sent from an official source within the past 3 months (as suggested in 3.2a) to prove your Residential location during your stay in the country.
3.4 We may relax or waive these verification requirements for repeat customers.
3.5 By providing this ID you hereby declare that you are the person responsible for the trade and account, and that you are the person represented in the provided Identification
3.6 Where your identification cannot be verified via traditional means, we may attempt to verify you via your Credit History file. By opening a trade you preemptively agree to the following:
“By accepting these terms and conditions you give consent for Bitcoin Babe to disclose your name, residential address and date of birth to a credit reporting agency and ask the credit reporting agency to provide an assessment of whether the personal information so provided matches (in whole or in part) personal information contained in a credit information file in the possession or control of the credit reporting agency to assist in verifying your identity for the purposes of the Anti-Money Laundering and Counter-Terrorism Act 2006. The credit reporting agency may prepare and provide Bitcoin Babe with such an assessment and may use your personal information including the names, residential addresses and dates of birth contained in credit information files of you and other individuals for the purposes of preparing such an assessment. If you disagree with having your identity verified by a credit reporting agency, please select another data source or contact Bitcoin Babe so that we can discuss other options with you.”
3.7 Additional payment and ID verification may be requested at any time, which may not be listed here, where we deem necessary in order to comply with our KYC/AML/CTF obligations.
3.8 We may relax or waive the payment and/or ID verification requirements for repeat customers.
3.9 Once payment has been made (when purchasing Cryptocurrency), you are required to mark the payment as completed within the trade screen on the Website where possible. Failure to do so will automatically cancel the escrow, resulting in your Cryptocurrency being returned to us.
3.10 where payment has been made, but the order not marked as paid within the specified time limit, you will be required to place a new order (but not pay again) for the fiat amount paid, at the current advertised rate. We are not liable for any losses incurred, should the rate be greater than the original order.
3.11 When payment is being made via a 3rd party payment processor, by initiating said payment, you are agreeing to their terms of service.
4. Appointment as your agent
4.1 We do not sell our own Cryptocurrency to you. We acquire Cryptocurrency on your behalf from one of the Cryptocurrency exchanges or Cryptocurrency sellers that we have access to.
4.2 You appoint us as your agent for the sole purpose of acquiring the Cryptocurrency for the Trade.
4.3 You direct and authorise us to acquire the relevant amount of Cryptocurrency set out in the Trade:
a) on your behalf; and
b) at the best price that we can obtain through the sources we use.
4.4 The price quoted in our advertisements is based on the current average price across the various Cryptocurrency exchanges we use to acquire Cryptocurrency for you, unless otherwise specified. It takes into account fluctuations in the prices quoted on those exchanges as well as (where relevant) the exchange rate between Australian Dollars and the other fiat currencies used by those exchanges.
4.5 From time to time, variations in the price offered on a Cryptocurrency exchange may result in the actual price of the Cryptocurrency that we acquire being higher or lower than the agreed price set out in your Trade. However, we will always honour the price set in your Trade, as follows.
a) If the price we pay on a Cryptocurrency exchange to acquire Cryptocurrency on your behalf is higher than the agreed price in the Trade, we will bear the cost of this difference.
b) If the price we pay on a Cryptocurrency exchange to acquire Cryptocurrency on your behalf is lower than the agreed price in the Trade, you authorise us to retain the difference.
4.6 Our authority and responsibility as agent is limited to acquiring the Cryptocurrency on your behalf under the Trade.
4.7 We retain full discretion to choose where to acquire the Cryptocurrency for your Trade.
4.8 We confirm and warrant that we do not act as agent for any Cryptocurrency exchange or Cryptocurrency seller or accept any commission or other form or remuneration from any Cryptocurrency exchange or Cryptocurrency seller.
5. Our Fees
5.1 The price quoted when placing your order incorporates all fees and charges passed on to us through offering a service to you. This is including, but not limited to, escrow fees, payment processing fees, verification fees etc. unless otherwise specified
5.2 We do not charge a set “fee” nor do we offer a fee structure, as the price displayed is based on the supply and demand of the market, unless otherwise specified. Please refer to 4.5 for more information
5.3 In the case of “Variable Rate” and “Subscription service” SCO’s, the fee outlined as per the contract is inclusive of Our fees as well as any fees associated with verification and some payment processing fees upon our discretion (such as bank fees, mining fees, etc.). We do not cover fees that are out of our control including fees involved with, but not limited to, currency conversion (or FX fees), SWIFT fees charged by the sending bank, receiving bank or any intermediary bank, Exchange fees, Escrow Fees, etc.
6. Your personal information
7. Limitation of liability
7.1 Apart from the matters set out in these Terms, we do not control any aspect of the Website and we are not responsible for any loss you suffer including but not limited to:
a) as a result of you failing to deposit, or a bank failing to process, payment for your Trade within the specified time frame, or you providing incorrect account details in making a payment; and
b) any problems with the Website including loss of control of your Cryptocurrency wallet or account with the Website for any reason.
8.1 If you agree to these Terms you represent to us that you:
a) are 18 years old or older; or
b) if under the age of 18, have permission from a parent or legal guardian to engage in a trade; and
c) are capable of entering into a legally binding agreement.
8.2 You also represent and warrant that:
a) all information you have provided to us is correct and current;
b) you have the power and authority necessary to enter into the agreement formed under these Terms and to perform the acts required under these Terms; and
c) you have complied and will continue to comply with all applicable laws, statutes, ordinances, and regulations (including without limitation anti-spam laws and any relevant data protection or privacy laws).
9. Local Laws
9.1 These Terms will not be excluded to the extent that such exclusion is prohibited by the laws of the jurisdiction where you reside and where those laws confer rights and remedies and imply terms into these Terms that cannot be excluded.
9.2 If a jurisdiction does not allow an exclusion or limitation of liability, but allows a limitation to a certain maximum extent, then our liability is limited to that extent.
9.3 If any provision in these Terms is invalid under any law the provision will be limited, narrowed, construed or altered as necessary to render it valid but only to the extent necessary to achieve validity. 9.4 If necessary the invalid provision will be deleted from these Terms and the remaining provisions will remain in full force and effect.
10.1 If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, that provision will be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions.
11. No Waiver
11.1 A failure by us to act with respect to a breach by you or any third party does not waive our right to act with respect to subsequent or similar breaches.
12. Entire agreement
12.1 This Agreement and all documents referenced in this Agreement comprise the entire agreement between you and us in relation to your use of our Services and supersede all prior agreements between the parties.
13. Governing Law
13.1 The laws of New South Wales govern any agreement formed under these Terms and the parties irrevocably submit to the jurisdiction of the courts of that State.