Terms of Service

SATOSHILOGY HOLDINGS, LLC. dba COINSWAP

Terms & Conditions of Service

Satoshilogy Holdings, LLC. dba COINSWAP

Terms of Service and Privacy Policy Updated: October 11, 2021

Satoshilogy Holdings, LLC. dba COINSWAP (the “Company”), a Florida corporation. Hereby offers its Bitcoin retail buy and sell service through OTC Trade Desk (the “Service”) to its customers under the following Terms of Service.

PLEASE REMEMBER THAT ONLY ONE PERSON MAY USE ONE ACCOUNT.

The Company shall contact customers from the following support number: 1-888-263-7927. Customers’ shall be obligated to comply with all instructions delivered from that phone number.

THESE TERMS CONTAIN ARBITRATION PROVISIONS WHERE CUSTOMERS EXPRESSLY WAIVE RESOLVING DISPUTES IN COURTS OF LAW.

The Company shall not transmit monetary value to another person or to another location for any person. This prohibition does not apply to sending bitcoins to wallets hosted by third-party services as long as the customer has exclusive access to that hosted wallet or sending bitcoins to “payment addresses” of merchants who utilize bitcoins as a method of payment.

The Company does not guarantee the Service’s availability.

The Company is a United States’ Department of Treasury-registered Money Service Business. You may check the Financial Crimes Enforcement Network’s website (www.fincen.gov) to confirm the Company’s registration.

Disclosure of Material Risks:

  1. Bitcoin is not legal tender, is not backed by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation protections;
  2. Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Bitcoin;
  3. Transactions in Bitcoin may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable;
  4. Bitcoin transactions shall be deemed to be made when recorded on a public ledger, which is not necessarily the date or time that the customer initiates the transaction;
  5. The value of Bitcoin may be derived from the continued willingness of market participants to exchange fiat currency – such as United States dollars – for Bitcoin, which may result in the potential for permanent and total loss of value of Bitcoin should the market for Bitcoin disappear;
  6. There is no assurance that any person who accepts Bitcoin as payment today will continue to do so in the future;
  7. The volatility and unpredictability of the price of Bitcoin relative to fiat currency may result in significant loss over a short period of time;
  8. The nature of Bitcoin as an Internet-based protocol may lead to an increased risk of fraud or cyber attack;
  9. The nature of Bitcoin means that any technical difficulties experienced by the Company may prevent the access or use of a customer’s Bitcoin; and
  10. Any bond or trust account maintained (or to be maintained) by the Company for the benefit of its customers may not be sufficient to cover all losses incurred by customers.

Who May be a Customer of the Service?

Anybody may apply to become a customer of the Service (a “Customer”) if they choose to open an account and have their identity verified. A mobile phone number is required. The Company is not responsible for any mobile phone service fees a Customer might incur as a result of using the Service.
The Company reserves the right to reject any person as a Customer, to attempt to collect additional identification information about a Customer or to bar any Customer from using the Service at any time for any reason. Please see the Company’s Privacy Policy for how the Company shall handle the information provided by any prospective customer; by agreeing to these Terms, a Customer also agrees to the Privacy Policy.

Customers’ Accounts

A Customer’s account is tied to his email, mobile phone number and identification. A Customer may only be able to access the Service using the email, mobile phone number he first provided to the Company. The Company will not be liable for any loss a Customer may incur as a result of unauthorized use of that Customer’s account’s credentials.
A Customer may use his account only to buy or sell bitcoins for his personal use. If purchasing bitcoins, the Company may upon a Customer’s election provide a “wallet” to a Customer containing the bitcoins or a Customer may withdraw to a wallet he already has. If selling bitcoins, a Customer shall receive United States Dollar currency in the agreed-to amount.
A Customer shall not: (1) allow any other person to use his account for any reason; (2) use the Service to directly send the value to any other person; or (3) use any other person’s mobile phone number or identification documents to create an account.
The Company does not maintain Bitcoin wallets for customers as part of its Service.

Transactional Limits

The Company may at any time institute daily, weekly and/or monthly transactional limits on a Customer’s use of the Service. These limits may be changed at any time for any reason by the Company. Each Customer may have different transactional limits for different reasons. If a Customer is suspected of using multiple accounts to override the daily or weekly transactional limits, that shall be reason by the Company to suspend all of the implicated accounts from the Service.

Risk of Loss

A Customer assumes all risk of loss associated with the holding of bitcoins and acknowledges that bitcoins are a volatile asset with a short track record. The Company is not an investment advisor and does not provide any personal advice or guidance on the suitability of holding bitcoins or similar virtual currencies. The Company is not in any way responsible if bitcoins are someday worth nothing following a Customer’s purchase.

The Company is not in any way responsible for the safekeeping of a Customer’s bitcoins following purchase (nor of a Customer’s currency if selling bitcoins). Though the Company has taken all reasonable precautions to ensure that the “wallets” provided in the exchange agreement are not sanctioned, the Company is not in any way responsible for the safekeeping or security of the bitcoins on these “wallets”. If a Customer loses his “wallet”, it shall be impossible for the Company to retrieve those bitcoins as the Company shall not reimburse that Customer if he loses his “wallet”.

A Customer assumes ALL responsibility in the safekeeping of his bitcoins and his bitcoin wallet(s). If the Company recommends to a Customer third-party wallet applications for the storage of bitcoins, it is solely that Customer’s responsibility to conduct his own due diligence on those applications before using them.

Intellectual Property

All intellectual property rights vested in texts, images or any other content found on or related to the Service are owned by the Company or its vendors. Accordingly, Customers may not copy, distribute, reproduce, republish, upload, transmit, modify, post, frame-in or otherwise use in any way any such content without the prior express authorization of the Company.

The Company’s intellectual property or that of its affiliates, vendors or licensors is protected by patent, trademark and/or copyright laws of American and/or other jurisdictions and may not be used without express written consent.

Legal Compliance

It is a Customer’s responsibility to comply with any and all laws and regulations of his/her jurisdiction(s) with respect to the Service and use of bitcoins.

The Company has registered as a money services business with the United States Department of Treasury for all states it is operating in, has instituted an anti-money laundering policy and may be required by law to file currency transaction reports and/or suspicious activity reports with state and/or federal authorities regarding Customers’ activities. The Company may be legally barred from providing notice to Customers of the filing of such reports. The Company may also be legally required to provide information concerning a Customer’s transactions to governmental or regulatory agencies. The Company shall not be liable to any Customer in any way for providing information to governmental or regulatory agencies about that Customer’s use of the Service.

The Company’s Obligations

The Company warrants and represents:
It shall use all reasonable care and skill in administering the Service.
It shall comply with any and all laws and regulations relating to offering the Service.

Customers’ Obligations

Customers agree that they will not use the Service to perform any type of illegal activity of any sort, including, but not limited to, money laundering, scheduled narcotics trafficking, human trafficking, tax evasion, or terrorism financing, or do anything to negatively affect the performance of the Service. Suspicion of using the Service for an unauthorized or illegal activity is cause for the Company to suspend all access of a Customer to the Service; whether this suspicion is warranted is exclusively within the discretion of the Company.
Customers agree to respond to all inquiries from the Company regarding the Customer’s account; failure to diligently respond to the Company’s inquiries may result in a suspension of the account.

Limitation of Liability

THE COMPANY MAKES NO WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE SERVICE, INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. CERTAIN STATE LAWS DO NOT ALLOW LIMITATIONS ON IMPLIED WARRANTIES OR THE EXCLUSION OR LIMITATION OF CERTAIN DAMAGES. IF THESE LAWS APPLY TO YOU, SOME OR ALL OF THE ABOVE DISCLAIMERS, EXCLUSIONS, OR LIMITATIONS MAY NOT APPLY TO YOU, AND YOU MAY HAVE ADDITIONAL RIGHTS.
The Company cannot be held liable for any malfunction, breakdown, delay or interruption to the Internet connection, or if for any reason its Service is unavailable at any time or for any period, unless this unavailability prevents a Customer from receiving bitcoins (or currency) he is owed.
Customers acknowledge that an account may be suspended for any reason and they may not be able to have access to the Service at any time for any reason.
The Company shall in no way be liable for punitive, speculative or consequential damages resulting from a Customer’s use of the Service unless the fact-finder adjudges the Company acted with malicious intent against a Customer.

Arbitration

Customers acknowledge that arbitration shall be the sole and exclusive remedy for any cause of action for damages related to these Terms of Service or use of the Service. These Terms of Service shall be interpreted under Florida law in private arbitration, before an arbitrator that possesses expertise in the matters at issue. CUSTOMERS ACKNOWLEDGE THAT THEY ARE WAIVING THEIR RIGHT TO RESOLVE THEIR DISPUTES WITH THE COMPANY CONCERNING THESE TERMS OR USE OF PRODUCTS BEFORE A COURT OF LAW AND ARE ALSO WAIVING THEIR RIGHT TO A TRIAL BY JURY. All claims for damages must be presented to the arbitrator within one year of the alleged date of injury. The Company and Customer shall be responsible for their respective arbitration fees unless the arbitrator explicitly rules otherwise on the basis that the claim or defense is frivolous. The arbitrator’s judgment shall be final, non-appealable and may be enforced in any competent jurisdiction.
The only exception to arbitration is if the Company is seeking to enjoin infringement or other misuse of intellectual property rights; in such a situation, both parties waive a trial by jury.
The Company and its Customers agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a joint, class, consolidated or representative action.

Privacy Policy

General

The Company and its affiliates (hereinafter, “we”, “us” or “our”) are committed to protecting and respecting your privacy.
This Privacy Policy (together with our Terms of Service) governs our collection, processing and use of your Personal Information. We define “Personal Information” as information which identifies you personally. (Other terms are defined in the Terms of Service, above.)

The purpose of this Privacy Policy is to inform you of:

  • The kinds of Personal Information which we may collect about you and how it may be used;
  • Any disclosure of Personal Information to third parties;
  • The transfer of Personal Information;
  • Your ability to correct, update, and destroy your Personal Information; and
  • The security measures we have in place to prevent the loss, misuse, or alteration of Personal Information under our control.

Gathering and Use of Personal Information

We may collect your Personal Information if you use our website and attempt to open a Customer account to use the Service. The types of Personal Information which we collect may include:
Your name;

  1. A copy of or information on your government-issued identification document;
  2. Your address;
  3. Your phone number;
  4. Your e-mail address;
  5. Your date of birth;
  6. Your tax identification number; and
  7. Your transactional history.

We may use your Personal Information for the following purposes:

  1. To allow you to open a transaction account;
  2. To enable you to complete transactions through our service;
  3. If you contact us, to reply to your queries;
  4. As required for regulatory purposes; and
  5. To conduct due diligence on and/or verify your identity;
  6. To conduct due diligence on your use of our services; and/or
  7. To contact you regarding the Company’s services, including marketing.

We will process your Personal Information only for the purposes for which it has been provided to us.

Disclosure of Personal Information

We use the Personal Information for the purposes indicated at the time you provide us with such information, and/or otherwise for the purposes set out in this Privacy Policy and/or as otherwise permitted by law. We may make available the Personal Information that you provide to us to our financial institution partners, affiliates, agents, representatives, trusted service providers and contractors for these limited purposes. We may share customers’ Personal Information with financial institutions, insurance companies or other companies in the case of (including but not limited to) a merger, divestiture, or other corporate re-organization.
We may also share customers’ Personal Information with law enforcement or regulatory agencies, as may be required by law.
Any third party which receives or has access to Personal Information shall be required by us to protect such Personal Information and to use it only to carry out the services they are performing for you or for the Company, unless otherwise required or permitted by law. We will ensure that any such third party is aware of our obligations under this Privacy Policy and we will enter into contracts with such third parties by which they are bound by terms no less protective of any Personal Information disclosed to them than the obligations we undertake to you under this Privacy Policy or which are imposed on us under applicable data protection laws.

Transfer of Personal Information

The Company may transfer Personal Information to the third-party service providers entrusted by the Company with the hosting of the Company’s services and other technical or administrative operations relating to the operation of the Company’s services. These parties may be located anywhere in the world. By providing us with your Personal Information, you consent to such transfer of your Personal Information to third-party service providers inside and outside of the United States. You acknowledge that the transmission of information via the Internet is not completely secure and whilst we will use industry best practices to protect your Personal Information, we cannot guarantee the security of your data when it is outside of our control. Once we have received your Personal Information, we will use strict procedures and security features to try to prevent unauthorized access, including encryption.

Request a Copy of Personal Information

Upon your written request, we will inform you of the Personal Information relating to you that we hold and the use and general disclosure of your Personal Information. Upon written request, we will also give you a copy of the Personal Information we have retained (Personal Information, however, does not include information derived from Personal Information you provided). There may be a minimal charge for accessing your Personal Information.

Security

We have implemented security measures to ensure the confidentiality of your Personal Information and to protect your Personal Information from loss, misuse, alteration or destruction. The security measures in place will, from time to time, be reviewed in line with legal and technical developments.

Retention of Personal Information

We will hold your Personal Information only for as long as it is necessary for us to do so, having regard to the purposes described in this Privacy Policy and our own legal and regulatory requirements. In accordance with our record keeping obligations we will retain Personal Information for, at least, a period of five years after a Customer last uses the Service.

Changes

Our policies, content, information, promotions, disclosures, disclaimers and features may be revised, modified, updated, and/or supplemented at any time and without prior notice at the sole and absolute discretion of the Company. If we change this Privacy Policy, we will post the amended Privacy Policy on the kiosk.

Contact Us

If you have any questions, comments or concerns regarding our Terms of Service and Privacy Policy and/or practices as it or they relate to you or us, please contact us at support@coinswap.exchange.