See terms and conditions

Here are the terms and conditions (Terms of USE) of BITPOINT Panama. (“The portal”), from now on BITPOINT Panama. If you are a registered user from any jurisdiction other than Panama, keep in mind that the commercial link and the storage of your data is being done with the company BITPOINT Panamá INC, who acts as our hub of operations for Latin America.

TERMS AND CONDITIONS

In the present terms of use, when we refer to BITPoint, its owners, directors or representatives are included through a legal contract with the company,

BITPoint can also make references to all services, products and by products such as API, Web applications, Google play Apps and Apple store. Any offline material that is owned by BITPoint is also included.

The Portal initially corresponds to a functional website designed to offer Exchange services or online exchange of Crypto Assets between people (the “Service”). The Service allows registered users, duly authorized after going through the rigorous verifications required by BITPoint and the Local Government, to sell or buy digital assets based on the Blockchain technology.

In other words, BITPoint works as a meeting point between people who want to buy Crypto Assets, on one hand, and on the other hand people who own Crypto Assets and want to sell them or exchange them for local currency. Given this need, and to prevent any of the parties involved in this deal from being affected, BITPoint arrives to be a guardian and guarantor of the transactions between these two users being made in the manner agreed between the parties. The user who wants to sell the Crypto Assets must deposit their digital assets to our Wallets, or Portfolios, which have a security guarded by multiple signatures to prevent any kind of losses. The party that wishes to buy crypto assets accepts to deposit the local money in custody in our bank accounts while the transaction is being made. The Users acknowledge that the Service will have a fixed variety of Crypto Assets, which may be extended at a time until they have the greatest possibility of options so that the User does not incur unnecessary expenses to acquire their favorite Crypto assets.

Within the services offered by the Portal, Users may exchange Crypto assets among them for dollars, local currency of the United States of America (USD), SOLES, local currency of PERÚ or vice versa, at a rate or price agreed between themselves.

Please read these conditions of use carefully. Before requesting the creation of an account and accepting our terms and conditions of use, you agree to be legally bound by these terms of use, our anti-money laundering policy, data protection policy, anti-terrorist financing policy and all the terms incorporated by reference.

GLOSSARY

Crypto Assets: It is the way in which is denominated the set of cryptocurrencies and other forms of goods and services that use cryptography (and by extension BlockChain technology) are called to function. The best known are crypto coins or cryptocurrencies but there are others such as smart contracts, tokens or governance systems that fall into that category.

Cryptocurrency: A cryptocurrency is a digital exchange medium that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets

Trading: Trading consists in the purchase and sale of crypto assets, based on the conscientious study of market movements, in order to obtain the highest income from the movements that occur. It can also rely on knowledge of information related to projects and their development that are disseminated through the media, or through social networks to attract investors.

Traders: Who or whom execute the Trading action.

Leveraged Transactions or Marginal Trading: Marginal trading is a form of speculation in which bitcoins are traded using borrowed money (leverage is the ratio between the total money at stake and the money invested). This allows higher profit margins, but at the risk of suffering a forced liquidation. For example, a fall in the price of 20% for a 5 to 1 leverage would imply the loss of all the money invested.

Summary of conditions of use

This Summary of our terms of use gives you an overview of the key terms that apply to your use of our website and Trading services. We hope this summary section to be useful to you, but you should read the full terms of use listed below, as they provide important information about how our services work. Please keep in mind that the term “BITPoint” refers to our online service where you can execute operations.

Eligibility and Accepted use

You must meet certain eligibility criteria to use BITPoint. For example, you must be of legal age and there are certain locations from which you cannot use some of our services.

Also, there are certain things you cannot do when you use BITPoint, such as participating in illegal activities, reporting false information or omitting relevant information, or doing any act that causes harm to our services or systems or to third parties. Please see the accepted use section for more details.

Commercial Risks

Participating in operations can be risky, especially if Margin Trading options are used. Please do not use BITPoint or any of the trading options if you do not understand or accept these risks.

Other important legal terms

There are important legal terms that are provided below in the full terms of use, including your indemnification responsibilities, our limitation of liability and disclaimers, and your agreement to arbitrate most malfunctions. Please take the time to read these terms carefully. You can always contact us through our contact center if you have any questions at support@bitpoint.com.pe

COMPLETE TERMS OF USE

These terms of use and the terms expressly incorporated herein (“terms”) apply to your use of the website operated and maintained by BITPoint PERÚ Inc. and its wholly-owned subsidiaries.

1. Key definitions

Words or phrases that are not defined otherwise in these terms will have the following meaning:

1.1. “Bank Account” means any financial account of which you are the beneficial owner that is maintained by a third party outside the services, including, but not limited to, third-party payment service accounts or accounts maintained by financial institutions other than BITPoint PERÚ. Inc.

1.3. “Funds” means digital asset.

1.4. “BITPoint Individual or Corporate Account” means a user account accessible through services where funds can be stored by BITPoint on behalf of a user.

1,5. “Digital asset” means Bitcoins, Ripple, Bitcoin Cash, Litecoin, Dash, and other digital media that can be purchased, sold or transferred through BITPoint services.

1,6. “Digital asset account” means any address or account of digital assets owned or operated by you that is kept outside the services, and is not owned, controlled or operated by BITPoint.

2. Eligibility

2.1. These are the BITPoint services available in each market and jurisdiction and that may be restricted or prohibited in certain jurisdictions (“restricted places”).

2.2. You also declare and guarantee that: (a) you are at least 18 years of age; (b) has not been previously expelled or blocked to use our services; (c) have full power and authority to enter into this agreement and, in doing so, will not violate any other agreement or law applicable to you; (d) use our platform in your own name and for your own benefit; (e) is not located in, under the jurisdiction of, or a national or resident of any restricted place; and (f) you will not use our services if the laws applicable in your country prohibit you from doing so in accordance with these terms.

2,3. In addition, by accepting these terms you certify that you are interested and seek participation in activities based on BlockChain as part of your professional activity, as well as know and accept the risks involved in your participation in such activity.

3. BITPoint Accounts

3.1. Number of BITPoint Accounts. BITPoint may, in its sole discretion, limit the number of Accounts that you may have, maintain or acquire, or cancel or limit the use of these due to any violation of these Terms.

3.2. BITPoint account and security information. In order to participate in any trade through the services, you must create a BITPoint account and must provide any information requested. By creating a BITPoint account, you agree to: (a) create a strong security password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) maintain constantly updated the BITPoint Account Information; (d) maintain the security of your BITPoint account by protecting your password and restricting access to your account (e) notify yourself promptly if you discover or otherwise suspect any breach of security related to your BITPoint account and (f) Take responsibility for all activities that occur under your BITPoint account and accept all risks of any authorized or unauthorized access to your account, to the maximum extent permitted by law.

3.3 Likewise, when registering as a Registered User and verifying the Account, the User must assign a secret password to access the Account. The User will also have an OTP (One Time Password) that will be necessary for the access to the Account, being the User the only one in charge of keeping the confidentiality of the same, and therefore the person in charge of the information and the use of his Account.

3.4 Individual Account. It is the account created by an individual as a natural person, to use the services offered on our site for which it must comply with the previous requirements.

3.5 Corporate Account. BITPoint also puts at your disposal the creation of corporate accounts or accounts for companies. For the creation of this account, it is essential that the user fill in the required special fields and attach the documents requested in full completing the corporate account registration form. This account, unlike the individual account, can take up to a maximum of a week to be approved for its creation in BITPoint.

3.6 In the verification of the Account and acceptance of the Terms of Use, BITPoint employs high technology tools that are connected to the background verification systems at a local and international level, in order to verify that the Registered User is a real person and that meets all the requirements of law and those established in the verification of BITPoint. These requirements will be internal and will give BITPoint the right to reserve the admission or suspension of any User that does not comply with the verifications.

3.7 The result of these verifications will classify users according to a ranking, which will give them access to certain threshold limits to execute orders, since, due to security local measures, the use of the Portal cannot be allowed without fulfilling the respective validations made to each user or corporation that intends to register in BITPoint. The User is obliged, in any case, to provide data and documents to prove their economic status, the origin of their income, their employment status and all the information that BITPoint considers relevant to carry out the KYC processes (Knowledge your customer). During the execution of these validations, BITPoint may perform a preventive blocking to your account, while the relevant validations are being carried out. This blocking is indeterminate and discretionary of BITPoint until the company considers that all the information provided by the client is visible and meets the standards of compliance and origin of funds. In case of not presenting the additional documents required by the BITPoint compliance area or presenting altered or false documentation, BITPoint will make the report to the local authorities and the funds stored in the account may be retained and or returned to their origin, whose subsequent process will be the definitive closing of the client’s account.

3.8 BITPoint Funds Storage: BITPoint may, at its discretion, store or transfer the funds, both in Crypto Assets, and in FIAT (Government Currency), to and from any of its subsidiaries in Latin America.

4. privacy policy

See our privacy policy for information on how we collect, use and share your information.

5. General Obligations

This section 5 applies to: (i) all trades completed through the services, (II) your purchase and / or sale of digital assets / cryptocurrencies directly from BITPoint through our site www.bitpoint.com.pe, and (III) any transaction in which you upload funds into your BITPoint account from an external account or transfer funds from your BITPoint account to an external account.

5.1 Conditions and restrictions. We can, at any time and at our sole discretion, reject any transaction made through our site www.bitpoint.com.pe, impose limits on the amount of “Trading” executed through our site www.bitpoint.com.pe or impose any other condition or restriction on the use of our services without prior notice. For example, we can limit the amount or value of the orders that you make through our site www.bitpoint.com.pe or we can restrict the number of orders that you execute.

5.2. Accuracy of information. The user must provide any information required when creating a BITPoint account or when requested by any screen displayed within our site www.bitpoint.com.pe. You declare and guarantee that any information you provide through the services is accurate and complete.

5.3. Cancellations. You can only cancel an initiated order through our site www.bitpoint.com.pe if such cancellation occurs before BITPoint executes the total transaction. Once your order has been executed, you cannot change, withdraw or cancel your authorization for BITPoint to complete that transaction. If an order has been partially completed, you can cancel what is still pending to be executed, unless the order refers to a “Market Trade”. We reserve the right to reject any request for cancellation associated with an order once such order has been made.

5.4. Insufficient funds. If you have an insufficient amount of funds in your BITPoint account to complete an order through our platform, we may cancel the entire order or you may request to complete the partial order using the amount of funds currently available in your BITPoint account, less the transaction fee owed to BITPoint in connection with the execution of the Trading or the creation of the order.

5.5. Taxes. It is your responsability to determine what taxes are apply, if any, to the orders you complete through our site www.bitpoint.com.pe, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that BITPoint is not responsible for determining whether taxes apply to your operations or for collecting, reporting, withholding or remitting taxes arising from any trade.

6. Funds from BITPoint accounts

6,1. Financing your BITPoint account. In order to complete an order or to trade through the services (as described in section 7), you must first upload the funds to your BITPoint account using one of the approved external bank accounts identified by BITPoint. You may be required to verify that you are the owner of this bank account that you will use to upload funds to your BITPoint account. BITPoint is not responsible for any fee, commission or external fee generated in the bank account that you associate with BITPoint, nor for the commissions for the management and security of any external bank account. You are solely responsible for the use of any external bank account, and you agree to comply with all terms and conditions applicable to any external bank account. The time associated with a purchase transaction will depend in part on the performance of third parties responsible for having the external account enabled to perform virtual transactions, and BITPoint does not guarantee the time it may take to load funds into your BITPoint account.

6,2. Transfer funds to an external account. If the balance in your BITPoint account is greater than any minimum balance requirement necessary to satisfy any of your open positions, you may transfer any amount of funds, up to the total amount of funds in your BITPoint account, minus fees charged by BITPoint for such transactions

6,3. Transfer / Withdrawal Authorization. When you request to charge funds to your BITPoint Account from your external account or request that we transfer the funds to your external account from your BITPoint Account, you automatically authorize BITPoint to execute such transaction through the services.

6.3.1 Conditions for the withdrawal of Crypto Assets to bank accounts. BITPoint, in its sole discretion, may reject any withdrawal request if it considers that there is any movement that compromises the security of the transaction, or that it is a suspicious movement in terms of fraud or that it violates our AML policy (Anti money laundering). In such case, BITPoint will notify the applicant through electronic means about the cancellation of the request. In case the application is approved BITPoint will take up to two (2) business days to make the payment to the requested account.

6.3.2 Please before you execute any type of coin transfer, make sure you are using the proper NETWORK. The Blockchain that a crypto deposit/withdrawal is sent on, is really important. If deposits/withdrawals are sent on the wrong chain we may attempt to recover it, but this is in no way guaranteed.

6,4. Rejected transactions. In some cases, the external account may reject your funds or may not be otherwise available. You agree that BITPoint shall not be liable for any costs or damages resulting from such transactions rejected by third parties.

7. Trade Orders

This section only applies when using services for the cryptocurrency trading to acquire another type of cryptocurrencies. BITPoint does not buy, sell or exchange any cryptocurrency in its own name, but provides users with an electronic platform to perform these operations.

7,1. Authorization. When you submit a new order through the services, you authorize BITPoint to execute a transaction in accordance with such order on a point basis and to charge you any applicable fees (as described in section 9 below).

7,2. Independent relationship. You acknowledge and agree that: (a) BITPoint is not acting as your broker, intermediary, agent, or advisor or in any fiduciary capacity, and (b) any communication or information provided to you by BITPoint will be considered or construed as a board or advisory.

7,3. Trading / Order confirmation. Once you use the services of BITPoint, a confirmation will be sent to you via e-mail detailing the data of it. You acknowledge and agree that the failure to receive such information does not prejudge or invalidate the terms of such order.

7,4. Trading Rates. If you select a “Market Trade”, BITPoint will attempt, on a commercially reasonable basis, to execute the Trade at or near the prevailing market exchange rate, as defined through the services. You acknowledge and agree that the exchange rate information available through our site may differ from the current exchange rates available through other sources outside of our site.

7,5. Volatility of the market. Particularly during periods of high volume, illiquidity, rapid movement or volatility in the market for any crypto Asset or legal tender, the actual market rate at which an order is executed, or the Market Trading may be different from the prevailing rate indicated through of our site at the time of your order or Trading. You understand that we are not responsible for price fluctuations. In the event of market disruption or force majeure event (as defined in section 22), BITPoint may take one or more of the following actions: (a) suspend access to services; or (b) prevent you from completing any action through the site, including the closing of any open position. After any event, when trading resumes, you acknowledge that the prevailing market rates may differ significantly from the rates available prior to that event

7,6. Commercial agreement. Attached to the terms and conditions in these specific terms, we will use commercially reasonable efforts to settle the Trading on a timely basis within two (2) business days of the date on which the users have agreed to execute a Trading through our site.

8. Disclosure of risks

8,1. Commercial risks. You acknowledge and agree that you must access and use the services at your own risk. The risk of loss in the trading of assets held by cryptocurrencies and digital assets and legal tender pairs can be substantial. Therefore, you should carefully consider whether such trading is right for you considering your circumstances and financial resources. You must consider the following points:

All cryptocurrency positions involve risk.

All the points mentioned above apply to all the cryptocurrencies traded on our site, in addition to all the digital assets that you have at BITPoint. This brief statement cannot disclose all the risks and other aspects associated with these trades

8.2. Risks of Internet transmission. You acknowledge that there are risks associated with the use of an electronic commerce system, including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that BITPoint will not be liable for any communication failure, interruptions, errors, distortions or delays that you may experience while trading through our site, regardless of what it causes.

8.3 Likewise, the User declares and accepts that the exchange of Crypto assets has special risks, which are not necessarily shared by the currencies, assets or products of free exchange. Unlike the currencies or assets of the rest of the world, which are backed by federal reserves, central banks, governments or other entities, or by commodities such as gold and silver, Crypto Assets are only supported by technology and the mutual trust of the users who own them. That is, there is no federal reserve, central bank, government or other entity that protects its value, and it is achieved exclusively under the balance between supply and demand.

Although it is not our mission or our intention to define exactly what is an Crypto Asset and its generating system, we can point out, in a few words, and taking as clear references to Bitcoin, Ethereum, Ripple and Litecoin, which corresponds to a global and autonomous system , self-regulated, through which a virtual commodity is generated and circulated, or electronic money, called Crypto Asset and whose value is based on the trust that the same users give to the system.

In this regard, the User declares to know and accept that the trade or exchange of Crypto Assets could be susceptible to irrational (or rational) bubbles, be bound to the loss of trust, and consequently could lead to a collapse or collapse in their demand. of the offer. Just as an example, because the scenarios can be varied, the trust in the Crypto Assets could collapse due to an unexpected change imposed by a software developer, by regulatory changes of some government or State, by the creation of a superior alternative, or simply by an inflationary or deflationary spiral. Also, the trust in the Crypto Assets could collapse due to possible technical problems, such as if the anonymity of the transactions were compromised, if the money of the owners or people who interact or operate with Crypto actives were stolen or lost, or if hackers or Governments manage to prevent transactions from being made.

Finally, it is necessary to point out that it is possible to have other risks not considered or identified in these Terms of Use, which the User is willing to support, freeing BITPoint of any responsibility over them.

Due to the above, it is crucial that the User carefully analyze their financial situation and their risk tolerance before buying or selling Crypto Assets in the Portal. BITPoint recommends the User not to enter to this type of markets if he / she does not have the capacity to support mentioned risks and recommends that the User does not acquire loans for mentioned purposes.

9. Fees and Commissions

9,1. Amount of fees or commissions. You agree to pay the total commissions of the transactions. through our site (“fees”) as reported through the table of fees, we can change fees at our discretion. Changes in the commission schedule are effective as of the effective date indicated and are applied prospectively to any trade that takes place after the effective date of the mentioned commission plan changing.

The commission charged by BITPoint for SPOT Trading transactions is 1.7% + IGV of the value of the transaction executed.

The commission charged by BITPoint for Margin Trading is 0.15% of the value of the transaction executed.

The fee BITPoint charges for opening a position in margin trading and the daily maintenance performed on our website is 0.15% of the value of the margin position.

The commission for deposits or withdrawals in FIAT currency will depend on the value deposited or withdrawn in the following way:

Commission for deposits or withdrawals in Crypto Assets, from an external wallet to your BITPoint wallet or from your BITPoint wallet to an external wallet is 0.5% of the value deposited or withdrawn.

9.2 Fees or commissions from third parties. In addition to fees, your external bank account may incur fees in connection with its use. Any fee imposed by your provider or bank to your external account is not reflected in the BITPoint transaction screens that contain information on applicable fees. You are solely responsible for paying the fees imposed by third parties.

9.3 Fee Payment. You authorize BITPoint, or our designated payment processor, to upload or deduct your BITPoint account. The funds in the account for any commission or fee applicable to the trading, transactions or orders that you execute on our site.

9.4. Payments with FIAT (Government Regulation Currency). BITPoint could make available to you the purchase of Crypto Assets through payments using debit, credit cards or electronic transfers from a saving or checking accounts of an authorized bank. In which case for any reason the amount of the purchase may exceed $ 10,000 per day. In addition, BITPoint may, at its discretion, use third-party services to ensure that the means of payment used comply with all the security requirements established by the laws of Peruvian financial entities and will review each of the transactions executed on our site www. bitpoint.com.pe with FIAT money.

9.4.1 Application and Confirmation of Payments with Fiat

Only transfers from banks operating in PERÚ will be accepted, BITPoint at its discretion will reject transfers of FIAT funds made from foreign accounts.

Transfers will only be accepted from own accounts, registered and approved by BITPoint PERÚ, for which the bank certificate must have been registered in the STEP 2 registration process.

In the hypothetical case that BITPoint identifies the income of money from / to a third-party account, a bank account of a person other than the one that is requesting the purchase or sale of Crypto Assets, such transfer will be rejected. This rejection will be autonomous and discretionary of BITPoint PERÚ.

Please consider that financial institutions differ in their deadlines for money transfers.

1. 1 For USD withdrawals to registered bank account:

Cut-off time for withdrawals in USD is 5:00 pm local Peruvian time, in business days. All withdrawals executed after 5:00 p.m. local Peruvian time, on business days, will be credited to the customer’s registered bank account within a maximum of 2 business days.

1.2 For SOLES Withdrawals to registered bank account:

When customer sells his Crypto Assets to make a withdrawal in soles towards his bank account, Consider BITPoint only manages dollar balances, however, when BITPoint proceeds to make the deposit of the balance to a bank account in soles, BITPoint will execute the currency exchange, based on the exchange rate SOLES / DOLLARS with which the market opened on that day.

The official query source BITPoint PERÚ uses is the one of Banco Central of Perú.

http://www.bcrp.gob.pe/

1.3 Deposits in FIAT

If you want to buy crypto assets using either soles or USD, you must make the deposit to the Corporate ACCOUNT of BITPoint PERÚ. You can make an electronic transfer from the bank account that was authorized at the time of the creation of your trading account of BITPoint Perú.

If you are going to use soles in your transfer, you must make the deposit to the Account designated by BITPoint Perú SAC for this effect. Please refer to your trading account to confirm the account data to which you must transfer funds if you are using SOLEs.

Please keep in mind that the deposit to your BITPoint account will be made in USD and that the exchange rate used will be published and updated daily on our site www.bitpoint.com.pe . BITPoint will notify you in your trading account on the deposit to carry out and tell you about the exchange rate used and the value paid.

If you are using U.S. dollars on your transfer, please refer to your trading account to confirm the account data to which you must transfer THE funds if you are using U.S. dollars.

1.4 Crypto Withdrawals

Withdrawals requests from his BITPoint BITCOIN wallet to his external wallet, client can request it from his account, and this will be executed on the next working day (D + 1). This means that transaction is executed one business day after the request takes place in the BITPoint account.

9.5 CashBack Policy

BITPoint, with the intention of incentivizing transactions, has a Cashback policy that works as follows:

10. Electronic notifications

10.1. Consent for electronic notifications. You agree and accept to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, “communications”) that BITPoint provides in connection with your BITPoint account and / or use of BITPoint services. You agree that BITPoint can provide you with these communications by posting them on our site, by emailing at the email address registered by you in your account. You must keep copies of electronic communications by printing a copy or keeping an electronic copy for your records. You can also contact us through our contact center to request additional electronic copies.

10.2. Hardware and software requirements. In order to access electronic communications, you will need a device with an Internet connection that has a current web browser with enabled cookies and 128-bit encryption. You will also need to have a valid email address in the BITPoint registry and have enough storage space to save sent communications or a printer installed to print them.

10.3. Update contact information. It is your responsibility to keep the email address registered in BITPoint completely up to date in which BITPoint can communicate with you electronically. You understand and agree that if BITPoint sends you an electronic communication and it is not received it because your registered email address is out of date or is incorrect or blocked by your service provider, or you cannot receive electronic communications, BITPoint will consider it communication delivered to you. Keep in mind that if you use a spam filter that blocks or re-routes emails from senders that do not appear in the email address book, you must add BITPoint to your email address book so that you can receive communications We send you. You can update your email address at any time by accessing your BITPoint account or sending this information to our contact center at support@bitpoint.com.pe. If your email address becomes invalid in such a way that electronic communications sent by BITPoint are returned, BITPoint may consider your account to be inactive, and may not be able to complete any transaction through our services until we receive a valid email address

11.Leveraged Transactions

11.1 BITPoint offers a service that allows traders using leverage. This is called leveraged Trading or Margin Trading. This service allows an increase that leverages the trading margin; is the process by which a Trader or merchant borrows money from BITPoint in order to buy or sell more crypto-assets or that the Trader is not able to pay at the time of the request. This trading margin therefore functions in some way as a short-term loan and allows the trader to increase his crypto-assets and the purchasing power he has. In addition, this can provide the opportunity to create much larger gains compared to what the Traders involved in the Market Trading would be able to generate normally.

Margin Trading or leveraged transactions confer a greater profit potential than traditional trade, but also higher risks. Users who do not have a complete understanding of the operation of the leveraged transactions and the associated risk should not use the service. Users who do not wish to use the service can disable the functionality in the users’ settings.

11.2 To be eligible to participate in the leveraged transactions, you must consider the following considerations:

These transactions can be executed on our website www.bitpoint.com.pe

The cost of requesting or opening an account to trade with Leveraged Transactions or leveraged transactions will depend on the position in which it is opened.

Leveraged Trading – Features

Trading tools Online Trading Tool with web response, BITPoint ADVANCE

Type of Trading Leveraged Trading

How to use it

You can perform margin trading with your regular BITPoint account. The configuration for the Leveraged Trading can be adjusted in the user’s configuration.

Types of orders Market order, limit order, order of Stop Loss

Order unit 0.01 BTC

Trading pairs BTC/USD

Available Times to Do Leveraged Trading 24 hours a day and 365 days a year (except maintenance hours: 2:00 am-2: 10 am / all days) (PERÚ time)

Limit per order Market Order & Stop Loss Order: 30 BTC Maximum Per Order (Limit): 200BTC

Order Expiration Good till Cancel (GTC): The order is valid until it is executed or canceled.

Leverage (x) x2 (Up to 2 times the value), x5 (Up to 5 times the Value), x10 (Up to 10 times the value), x25 (Up to 25 times the Value)

Settlement method-Selected Settlement: You select which position you would like to liquidate and settle it.

Cross Order It is possible to have long and short positions simultaneously.

Exchange “When a position is transferred to the next day, regardless of whether it is a purchase or sale, a swap fee is charged based on the USD-based value in your BTC position. The swap rate is as follows:

BTC / USD: Long 0.15% Short 0.15%

Maximum amount per position 200BTC

Spread Floating Spread

Loss Court (Forced Execution) Executed when the maintenance index of the margin falls below 100%, the loss cut will be executed when the maintenance index of the margin falls below 100%. The customer positions with the highest loss will close until the margin maintenance ratio is recovered at 100%. Depending on the customer’s account, all positions could be closed. In situations where the price changes dramatically, you may suffer losses greater than your margin, even if the loss cut is executed.

Alert In the event that the Maintenance Margin Index falls below 120%, an alert will appear on the customer management screen and you will be notified by email.

Slippage (Sudden Drop in The Price) The “Slippage” is a difference between the executed price and the assigned price (or the displayed price) in Limit Orders, Loss Limitation Orders and Market Orders. After the sudden rise or fall of the market and / or the Internet connectivity of the client, a “Slippage” may occur. To avoid a large difference in the price assigned, you can select a price range according to the time you place the order. It will not run, then the price range you have selected.

11.3 Leveraged Transactions Commissions

There are two types of fees for leveraged transactions:

Position opening fee

Daily position maintenance fee (Swap).

11.3.1 Fee to open a margin position is 0.05% of the total USD dollar value of the position. This value is only charged when a new position is opened.

11.3.2 When a position is moved the next day (a swap), a daily position maintenance fee of 0.15% of the total USD value of the position will be charged for each day the position is moved.

11.4 Types of Leverage

11.4.1 The customer chooses to leverage 2 times the value, 5 times the value, 10 times the value or 25 times the value of the current and actual balance of his account.

If the market price fluctuates continuously, even if the stop Loss rule is applied, there may be a loss that exceeds the amount of the margin inserted.

11.5 Cancellation of leveraged transactions:

11.5.1 When liquidating the holding position, the user must specify the position to be settled and the balance of his account.

11.5.2 When the margin of the maintenance rate falls below 100%, requests for new orders are canceled sequentially from newly executed orders (including small values) with a large margin restriction until the margin maintenance rate reaches 100%.

11.5.3 If the margin maintenance rate is not recovered 100% in the previous procedure, from the position held by the client to the position with a large loss of valuation, the settlement of the open position will be made until the maintenance rate of the margin reach 100%

11.5.4 Alerts. When the margin rate falls below 120%, we will post the alert information in “Important Notice” on the top page of your account and we will send an alert email to your registered email address. “

12.Unreported property

If for some reason BITPoint is holding funds in your BITPoint account on your behalf and BITPoint cannot return your funds to your designated external account after a period of inactivity, then BITPoint may report and remit such funds in accordance with property laws not claimed from the applicable country.

12.1 Consent of Use

12,2. By accessing or using the services of our site www.bitpoint.com.pe, you agree that you will not violate any law, contract, intellectual property or other rights of third parties or commit a tort, and that you are solely responsible for their conduct while using our services. Without limiting the generality of the foregoing, you agree that you will not do any of the following activities:

12.2.1 The Use of our services in any way that may interfere with, alter, adversely affect or inhibit other users from fully enjoying our services, or that could damage, disable, overburden or impair the functioning of our services in any way;

12.2.2 The Use of our services to pay, support or otherwise participate in any illegal gambling activity; fraud; money laundering; financing of terrorist activities or the proliferation of weapons of mass destruction; or other illegal activities;

12.2.3 The Use of any robot, spider, crawler, scraper or other automated means or interface that attempts to access our services or extract data;

12.2.4 The Use or attempt to use another user’s account without authorization;

12.2.5 Try to avoid any content or security filtering technique that we use, or try to access any service or area of our services that you are not authorized to access;

12.2.6 Develop third-party applications that interact with our services without our prior written consent;

12.2.7 Provide false, inaccurate or misleading information;

12.2.8 Encourage or induce any third party to participate in any of the activities prohibited under this section.

Feedback

We have exclusive rights, including all intellectual property rights, to any feedback, suggestions, and ideas or other information or materials about BITPoint or our services that you provide, either by email, publication through our services or other way (“Feedback”). Any feedback you send is not confidential and will become the sole property of BITPoint. We shall have the right to the unrestricted use and dissemination of such comments for any purpose, commercial or otherwise, without the need for recognition or compensation. You waive any rights you may have to the feedback (including any Copyright). Do not send us comments if you expect to have any economic retribution or want to remain the owner or claim rights in them; Your idea may be great, but it is possible that we have already had the same or a similar idea. We also have the right to disclose your identity to any third party who claims that any content posted by you constitutes a violation of your intellectual property rights, or your right to privacy. We have the right to eliminate any publication you make on our website if, in our opinion, your publication does not comply with the content standards set forth in this section.

Copyright and other intellectual property rights

14,1. Unless we indicate otherwise, all intellectual property rights and any other content and other materials contained in our website or provided in connection with the services, including, without limitation, the BITPoint logo and all designs , texts, graphics, images, information, data, software, sound files, other files and the selection and arrangement there of (collectively, “BITPoint Materials”) are owned by BITPoint or our licensors or suppliers and are protected by the international laws of copyright and other laws of intellectual property rights.

14,2. This limited, non-exclusive, non-sublicense license to access and use the BITPoint content for your personal or internal business use. Such license is subject to these terms and does not allow (a) any resale of the content of BITPoint (b) the distribution, public or advertising public of any content of BITPoint (c) is modified or made use of a derivative document of BITPoint, or any part thereof; or (d) any use of BITPoint content. The license granted in this section will terminate automatically if we suspend or terminate your access to the services.

Third-party content

In the use of our services, you may view content provided by third parties, including links to websites of such parties, including, but not limited to Facebook and Twitter links (“third party content”). We do not control, endorse or adopt any third-party content and will not be responsible for the content of third parties, including without material limitation that may be misleading, incomplete, wrong, offensive, indecent or otherwise objectionable. In addition, your business relationships or correspondence with third parties are solely between you and third parties.

We are not responsible for any loss or damage of any kind incurred as a result of such treatment, and you understand that your use of third-party content, and your interactions with third parties, is at your own risk.

Suspension; Termination

In the event of any force majeure event (as defined in section 22.5), breach of this agreement, or any other event that makes the provision of services commercially reasonable to BITPoint, we may, at our discretion and without liability to you, with or without notice, suspend your access to all or a portion of our services. We may terminate your access to the services at our sole discretion, immediately and without notice, and remove or deactivate your BITPoint account and all related information and files on such account without liability to you, including, for example, if you incur in any violation of any term of these terms. In the event of termination, BITPoint will return the funds stored in your BITPoint account unless BITPoint believes it has committed fraud, negligence or other misconduct, in which case BITPoint will have the right to withhold the funds until the damage is determined.

Interruption of services

We can, at our sole discretion and without liability to you, with or without prior notice and at any time, modify or suspend, temporarily or permanently, any of our services.

18.Waiver of guarantees

18,1. Unless expressly provided otherwise in a document written by us, our services are provided on an “as is” and “as available” basis. We expressly reject, and you waive, all warranties of any kind, either express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement regarding our services, including information, content and materials contained in it.

18,2. You acknowledge that the information you store or transfer through our services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third-party providers, Internet interruptions, force majeure events or other disasters including third-party DDoS attacks, scheduled or unscheduled maintenance, or other causes within or beyond our control. You are solely responsible for endorsing and maintaining duplicate copies of any information you store or transfer through our services.

limitation of liability

19,1. Unless otherwise required by law, under no circumstances shall BITPoint, our directors, members, employees or agents be liable for any special, indirect or consequential damages, or any other damage of any kind, including but not limited to loss of use. loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or in any other way, arising out of or in any way related to the use or inability to use our services or the content of BITPoint, including without limitation any damage caused by or resulting from the trust by any user in any information obtained from BITPoint, or that result from errors, omissions, interruptions, deletion of files or email, errors, defects , viruses, delays in the operation or transmission or any failure of performance, whether or not resulting from a force mayor event, failure of com tampering, theft, destruction or unauthorized access to BITPoint records, programs or services.

19,2. To the fullest extent permitted by law, in no case shall the entire liability of BITPoint (including our directors, members, employees and agents), be it in contract, guarantee, tort (including negligence, whether active, passive or driven) , product liability, strict liability or other theory, arising out of or relating to the use of or inability to use the services, may exceed the fees paid by you to BITPoint during the 12 months immediately preceding the date of any claim. that gives rise to this responsibility.

20.Compensation

You agree to defend, indemnify and maintain the good name of BITPoint (and each of our officers, directors, members, employees, agents and affiliates) from any claim, claim, action, damage, loss, cost or expense, including without reasonable limitation. expenses for fees that arise or relate to (a) the use of, or conduct in connection with, our services; (b) any feedback you provide; (c) the violation of these terms; or (d) the violation of any right of any other person or entity. In these cases, BITPoint will have the right, in our sole discretion, to control any action or proceeding (at our expense) and determine whether we wish to resolve it.

21. Applicable law; Arbitration

Please read the following paragraph carefully because it requires you to arbitrate disputes with us and limits the way you can look for a solution.

You and BITPoint agree to arbitrate any dispute arising out of these terms or use of the services, except for disputes in which either party requests equitable relief and another for the alleged illegal use of copyrights, trademarks, names commercial, logotypes, commercial agreements or patents. Arbitration prevents you from suing before a court or having a judicial process before a judge. You and BITPoint agree to notify each other in writing of any dispute within thirty (30) days of when it arises. The notice to BITPoint will be sent to support@bitpoint.com.pe You and BITPoint agree, in addition: to attempt an informal resolution before any demand for arbitration; (b) that the arbitration will take place at the Arbitration Center of the Chamber of Commerce of PERÚ. (c) that the arbitration will be conducted in a confidential manner. Apart from the class procedures and resources discussed below, the judge has the authority to grant any solution that would otherwise be available in the Court. Any dispute between the parties shall be governed by these terms and the laws of PERÚ, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. If the dispute is heard in the arbitration or court, you and BITPoint will not pursue a different lawsuit, representative action or proceeding.

Various

22,1. Complete agreement; Order of precedence.

These terms contain the entire agreement and supersede all prior and contemporaneous understandings between the parties with respect to the services. These terms do not alter the terms or conditions of any other electronic or written agreement you may have with BITPoint for the services or for any other BITPoint product or service or otherwise. In case of any conflict between these terms and any other agreement you may have with BITPoint, the terms of that other agreement will only be controlled if these terms are specifically identified and declared invalid by that other agreement.

22,2. Amendment.

We reserve the right to make changes or modifications to these terms at our convenience and necessity and at our sole discretion. If we make changes to these terms, we will provide notice of such changes, by sending an email, providing notice on the home page of the site and / or posting the amended terms via the BITPoint website, mobile applications and date update. “Last update” on top of these terms. The amended terms will be considered effective immediately after the publication thereof. In all other cases, the amended terms will become effective for pre-existing users in the previous one of either: (i) the date on which users click or press a button to accept such changes, or (II) the continued use of our services 1 day after BITPoint provides notification of such changes. Any amended terms will be applied prospectively to the use of the services after such changes are effective. If you do not agree with the amended terms, you must suspend the use of our services and contact us to delete your account.

22.3. Exemption.

Our failure or delay in the exercise of any right, power or privilege under these terms will not operate as a waiver of the same.

22,4. Divisibility.

The invalidity or unenforceability of any of these terms will not affect the validity or enforceability of any other of these conditions, all of which will remain in full force and effect.

22,5. Mayor events Force.

22.5. BITPoint will not be responsible for (1) any inaccuracy, error, delay or omission of (i) any information, or (II) the transmission or delivery of information; (2) any loss or damage arising from any event beyond the reasonable control of BITPoint, including but not limited to flood, extraordinary weather, earthquake, or other act of God, fire, war, insurrection, riot, labor conflict , accident, government action, communications, blackout, hacking or operation of equipment or software or any other cause beyond reasonable control BITPoint (each, a “force majeure event”).

22,6. Assignment.

You may not assign or transfer any of your rights or obligations under these terms without the prior written consent of BITPoint, including for the operation of the law or in connection with any change of control. BITPoint may assign or transfer all your rights under these terms, in whole or in part, without obtaining your consent or approval.

22,7. Headers

The headings of the sections are for convenience only and will not be used to limit or interpret those sections.

22,8. Durability.

Sections 2 (eligibility), section 3 (BITPoint Account), 8 (disclosure of risks), 9 (fees), 11 (unclaimed property), 13 (feedback), 14 (copyright), 15 (third-party content) , 18 (waiver of guarantees), 19 (limitation of liability); 20 (compensation), 21 (applicable law; Arbitration) and section 22 (miscellaneous) will survive any termination or expiration of these terms.

Operations with Crypto Assets are not yet regulated in PERÚ, BITPoint is a company regulated in Japan and operates for good practices under the same standards in PERÚ.

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY IF YOU ARE A REGISTERED USER THE PANAMA SITE in www.bitpoint.com.pa

TERMS AND CONDITIONS

Here are presented the terms and conditions ( USO Terms) of BITPoint Panamá (The portal) forming a contract between BITPoint Panamá which we will refer to as “BITPoint”, and the user that had completed the register processing, will be denominated from now on as “User”

In the present terms of use, when we refer to BITPoint, its owners, directors or representatives are included through a legal contract with the company,

The Portal initially corresponds to a functional website designed to offer Exchange service or online exchange of Crypto Assets between people (the “Service”). The Service allows Registered Users, duly authorized after going through the rigorous verifications required by BITPoint and the Local Government, to sell or buy digital assets based on the Blockchain technology.

Within the services offered by the Portal, Users may exchange Crypto assets among them for dollars, local currency of the United States of America (USD), or vice versa, at a rate or price agreed between themselves.

GLOSSARY

Crypto active (Crypto assets): are the way in which is denominated the set of cryptocurrency and other forms of goods and services that use cryptography (and by extension BlockChain technology) are called to function. The best known as crypto coins or cryptocurrency but there are others such as smart contracts, tokens or governance systems that fall into that category.

Cryptocurrency: A cryptocurrency is a digital exchange medium that uses strong cryptography to secure financial transactions, control the creation of additional units and verify the transfer of assets

Trading: Trading consists in the purchase and sale of crypto assets, based on the conscientious study of market movements, in order to obtain the highest income from the movements that occur. It can also rely on knowledge of information related to projects and their development that are disseminated through the media, or through social networks to attract investors.

Traders: Who or whom execute the Trading action.

Leveraged Transactions or Marginal Trading: Marginal trading is a form of speculation in which bitcoins are traded using borrowed money (leverage is the ratio between the total money at stake and the money invested). This allows higher profit margins, but at the risk of suffering a forced liquidation. For example, a fall in the price of 20% for a 5 to 1 leverage would imply the loss of all the money invested.

Summary of conditions of use

This Summary of our terms of use gives you an overview of the key terms that apply to your use of our website and Trading services. We hope that this summary section is useful, you should read the full terms of use listed below, as they provide important information about how our services work. Please keep in mind that the term “BITPoint” refers to our online service where you can execute operations.

Eligibility and Accepted use

You must meet certain eligibility criteria to use BITPoint. For example, you must be of legal age and there are certain locations from which you cannot use some of our services.

Commercial Risks

Participating in operations can be risky, especially if Margin Trading options are used. Please do not use BITPoint or any of the trading options if you do not understand or accept these risks.

Other important legal terms

Complete terms of use

These terms of use and the terms expressly incorporated herein (“terms”) apply to your use of the website operated and maintained by BITPoint Panama Inc. and its wholly owned subsidiaries.

1. Key definitions

Words or phrases that are not defined otherwise in these terms will have the following meaning:

1.1. “Bank Account” means any financial account of which you are the beneficial owner that is maintained by a third party outside the services, including, but not limited to, third-party payment service accounts or accounts maintained by financial institutions other than BITPoint Panama. Inc.

1.3. “Funds” means digital asset.

1.4. “BITPoint Individual or Corporate Account” means a user account accessible through services where funds can be stored by BITPoint on behalf of a user.

1,5. “Digital asset” means Bitcoins, Ripple, Bitcoin Cash, Litecoin, Dash, and other digital media that can be purchased, sold or transferred through BITPoint services.

1,6. “Digital asset account” means any address or account of digital assets owned or operated by you that is kept outside the services, and is not owned, controlled or operated by BITPoint.

2. Eligibility

2.1. These are the BITPoint services available in each market and jurisdiction and that may be restricted or prohibited in certain jurisdictions (“restricted places”).

2.2. you also declare and guarantee that: (a) you are at least 18 years of age; (b) has not been previously expelled or blocked to use our services; (c) have full power and authority to enter into this agreement and, in doing so, will not violate any other agreement or law applicable to you; (d) use our platform in your own name and for your own benefit; (e) is not located in, under the jurisdiction of, or a national or resident of any restricted place; and (f) you will not use our services if the laws applicable in your country prohibit you from doing so in accordance with these terms.

3. BITPoint Accounts

3.1. number of BITPoint Accounts. BITPoint may, in its sole discretion, limit the number of Accounts that you may have, maintain or acquire, or cancel or limit the use of these due to any violation of these Terms.

3.2. BITPoint account and security information. In order to participate in any trade through the services, you must create a BITPoint account and must provide any information requested. By creating a BITPoint account, you agree to: (a) create a strong security password that you do not use for any other website or online service; (b) provide accurate and truthful information; (c) maintain and constantly update the Account Information; (d) maintain the security of your BITPoint account by protecting your password and restricting access to your account (e) notify yourself promptly if you discover or otherwise suspect any breach of security related to your BITPoint account and (f) Take responsibility for all activities that occur under your BITPoint account and accept all risks of any authorized or unauthorized access to your account, to the maximum extent permitted by law.

3.3 Likewise, when registering as a Registered User and verifying the Account, the User must choose a secret password to access the Account. The User will also have an OTP (One Time Password) that will be necessary for the access to the Account, being the User the only one in charge of keeping the confidentiality of the same, and therefore the person in charge of the information and the use of his Account.

3.4 Individual Account. It is the account created by an individual as a natural person, to use the services offered on our site for which it must comply with the previous requirements.

3.5 Corporate Account. BITPoint also puts at your disposal the creation of corporate accounts or accounts for companies. For the creation of this account, it is essential that the user fill in the required special fields and attach the documents requested in full completing the corporate account registration form. This account, unlike the individual account, can take up to a maximum of a week to be approved for its creation in BITPoint.

3.6 In the verification of the Account and acceptance of the Terms of Use, BITPoint employs high technology tools that are connected to the background verification systems at a local and international level, in order to verify that the Registered User is a real person and that meets all the requirements of law and those established in the verification of BITPoint. These requirements will be internal and will give BITPoint the right to reserve the admission or suspension of any User that does not comply with the verifications.

3.7 The result of these verifications will classify users according to a ranking, which will give them access to certain threshold limits to execute orders, since, due to security local measures, the use of the Portal cannot be allowed without fulfilling the respective validations made to each user or corporation that intends to register in BITPoint. The User is obliged, in any case, to provide data and documents to prove their economic status, the origin of their income, their employment status and all the information that BITPoint considers relevant to carry out the KYC processes (Knowledge your customer). During the execution of these validations, BITPoint may perform a preventive blocking to your account, while the relevant validations are being carried out. This blocking is indeterminate and discretionary of BITPoint until the company considers that all the information provided by the client is visible and meets the standards of compliance and origin of funds. In case of not presenting the additional documents required by the BITPoint compliance area or presenting altered or false documentation, BITPoint will make the report to the local authorities and the funds stored in the account may be retained and or returned to their origin, whose subsequent process will be the definitive closing of the client’s account.

3.8 BITPoint Funds Storage: BITPoint may, at its discretion, store or transfer the funds, both in Crypto Assets, and in FIAT (Government Currency), to and from any of its subsidiaries in Latin America.

4. Privacy policy

See our privacy policy for information on how we collect, use and share your information.

5. General Obligations

This section 5 applies to: (i) all trades completed through the services, (II) your purchase and / or sale of digital assets / cryptocurrencies directly from BITPoint through our site www.bitpoint.com.pa, and (III) any transaction in which you upload funds into your BITPoint account from an external account or transfer funds from your BITPoint account to an external account.

5.1 Conditions and restrictions. We can, at any time and at our sole discretion, reject any transaction made through our site www.bitpoint.com.pa, impose limits on the amount of “Trading” executed through our site www.bitpoint.com.pa or impose any other condition or restriction on the use of our services without prior notice. For example, we can limit the amount or value of the orders that you make through our site www.bitpoint.com.pa or we can restrict the number of orders that you execute.

5.2. Accuracy of information. The user must provide any information required when creating a BITPoint account or when requested by any screen displayed within our site www.bitpoint.com.pa. You declare and guaranteed that any information you provide through the services is accurate and complete.

5.3. Cancellations. You can only cancel an order initiated through our site www.bitpoint.com.pa if such cancellation occurs before BITPoint executes the transaction. Once your order has been executed, you cannot change, withdraw or cancel your authorization for BITPoint to complete that transaction. If an order has been partially completed, you can cancel what is still pending to be executed, unless the order refers to a “Market Trade”. We reserve the right to reject any request for cancellation associated with an order once such order has been made.

5.4. Insufficient funds. If you have an insufficient amount of funds in your BITPoint account to complete an order through our platform, we may cancel the entire order or you may request to complete the partial order using the amount of funds currently available in your BITPoint account, less the transaction fee owed to BITPoint in connection with the execution of the Trading or the creation of the order.

5.5. Taxes. It is your responsibility to determine what taxes are apply, if any, to the orders you complete through our site www.bitpoint.com.pa, and it is your responsibility to report and remit the correct tax to the appropriate tax authority. You agree that BITPoint is not responsible for determining whether taxes apply to your operations or for collecting, reporting, withholding or remitting taxes arising from any trade.

6. Funds from BITPoint accounts

6,1. Financing your BITPoint account. In order to complete an order or to trade through the services (as described in section 7), you must first upload the funds to your BITPoint account using one of the approved external bank accounts identified by BITPoint. You may be required to verify that you are the owner of this bank account that you will use to upload funds to your BITPoint account. BITPoint is not responsible for any fee, commission or external fee generated in the bank account that you associate with BITPoint, nor for the commissions for the management and security of any external bank account. You are solely responsible for the use of any external bank account, and you agree to comply with all terms and conditions applicable to any external bank account. The time associated with a purchase transaction will depend in part on the performance of third parties responsible for having the external account enabled to perform virtual transactions, and BITPoint does not guarantee the time it may take to load funds into your BITPoint account.

6,2. Transfer funds to an external account. If the balance in your BITPoint account is greater than any minimum balance requirement necessary to satisfy any of your open positions, you may transfer any amount of funds, up to the total amount of funds in your BITPoint account, less fees charged by BITPoint for such transactions

6,3. Transfer / Withdrawal Authorization. When you request that we upload funds to your BITPoint Account from your external account or request that we transfer the funds to your external account from your BITPoint Account, you automatically authorize BITPoint to execute such transaction through the services.

6.3.1 Conditions for the withdrawal of Crypto Assets to bank accounts. BITPoint, in its sole discretion, may reject any withdrawal request if it considers that there is any movement that compromises the security of the transaction, or that it is a suspicious move in terms of fraud or that it violates our AML policy (Against money laundering). In such case, BITPoint will notify the applicant through electronic means about the cancellation of the request. In case the application is approved BITPoint will take up to two (2) business days to make the payment to the requested account.

6,4. Rejected transactions. In some cases, the external account may reject your funds or may not be otherwise available. You agree that BITPoint shall not be liable for any costs or damages resulting from such transactions rejected by third parties.

7. Orders of change and trades

This section only applies when using services for the Crypto Assets trading to acquire another type of Crypto Assets. BITPoint does not buy, sell or exchange any Crypto Asset in its own name, but provides Users with an electronic platform to perform these operations.

7,1. Authorization. When you submit a new order through the services, you authorize BITPoint to execute a transaction in accordance with such order on a point basis and to charge you any applicable fees (as described in section 9 below).

7,3. Trading / Order confirmation. Once you use the services of BITPoint, a confirmation will be sent to you via e-mail detailing the data of the same. You acknowledge and agree that the failure to receive such information does not prejudge or invalidate the terms of such order.

7,4. Trading Rates. If you select a “Market Trade”, BITPoint will attempt, on a commercially reasonable basis, to execute the Trade at or near the prevailing market exchange rate, as defined through the services. You acknowledge and agree that the exchange rate information available through our site may differ from the current exchange rates available through other sources outside of our site.

7,5. Volatility of the market. Particularly during periods of high volume, illiquidity, rapid movement or volatility in the market for any crypto currency or legal tender, the actual market rate at which an order is executed, or the Market Trading may be different from the prevailing rate indicated through of our site at the time of your order or Trading. You understand that we are not responsible for price fluctuations. In the event of market disruption or force majeure event (as defined in section 22), BITPoint may take one or more of the following actions: (a) suspend access to services; or (b) prevent you from completing any action through the site, including the closing of any open position. After any event, when trading resumes, you acknowledge that the prevailing market rates may differ significantly from the rates available prior to that event

7,6. Commercial agreement. Attached to the terms and conditions in these specific terms, we will use commercially reasonable efforts to settle the Trading on a timely basis within two (2) business days of the date on which the users have agreed to execute a Trading through our site.

8. Disclosure of risks

8,1. Commercial risks. You acknowledge and agree that you must access and use the services at your own risk. The risk of loss in the trading of assets held by cryptocurrencies and digital assets and legal tender pairs can be substantial. Therefore, you should carefully consider whether such trading is right for you considering your circumstances and financial resources. You must consider the following points:

All Crypto Assets positions involve risk.

8.2. Risks of Internet transmission. You acknowledge that there are risks associated with the use of an electronic commerce system, including, but not limited to, the failure of hardware, software, and Internet connections. You acknowledge that BITPoint will not be liable for any communication failure, interruptions, errors, distortions or delays that you may experience while trading through our site, regardless of what it causes.

8.3 Likewise, the User declares and accepts that the exchange of Crypto assets has special risks, which are not necessarily shared by the currencies, assets or products of free exchange. Unlike the currencies or assets of the rest of the world, which are backed by federal reserves, central banks, governments or other entities, or by commodities such as gold and silver, Crypto actives are only supported by technology and the mutual trust of the users who own them. That is, there is no federal reserve, central bank, government or other entity that protects its value, and it is achieved exclusively under the balance between supply and demand.

Although it is not our mission or our intention to define exactly what is an Active Crypto and its generating system, we can point out, in a few words, and taking as clear references to Bitcoin, Ethereum, Ripple and Litecoin, which corresponds to a global and autonomous system , self-regulated, through which a virtual commodity is generated and circulated, or electronic money, called Active Crypto, and whose value is based on the trust that the same users give to the system.

In this regard, the User declares to know and accept that the trade or exchange of Crypto Actives could be susceptible to irrational (or rational) bubbles, be bound to the loss of trust, and consequently could lead to a collapse or collapse in their demand. of the offer. Just as an example, because the scenarios can be varied, the trust in the Crypto actives could collapse due to an unexpected change imposed by a software developer, by regulatory changes of some government or State, by the creation of a superior alternative, or simply by an inflationary or deflationary spiral. Also, the trust in the Crypto actives could collapse due to possible technical problems, such as if the anonymity of the transactions were compromised, if the money of the owners or people who interact or operate with Crypto actives were stolen or lost, or if hackers or Governments manage to prevent transactions from being made.

Finally, it is necessary to point out that it is possible that there are other risks not considered or identified in these Terms of Use, which the User is willing to support, freeing BITPoint of any responsibility over them.

Due to the above, it is crucial that the User carefully analyze their financial situation and their risk tolerance before buying or selling Crypto Assets in the Portal. BITPoint recommends the User not to enter this type of markets if he / she does not have the capacity to support said risks and recommends that the User does not acquire loans for said purpose.

9. Fees or commissions

The commission for deposits or withdrawals in FIAT currency will depend on the value deposited or withdrawn in the following way:

9.1 Amount of fees or commissions. You agree to pay the commissions of the completed Trading through our site (“fees”) as reported through the table of fees and limits, which we may change at our discretion. Changes in the commission schedule are effective as of the effective date indicated and will be applied prospectively to any Trading that takes place after the effective date of said changed commission plan.

The commission charged by BITPoint for the Trading or for the purchase and sale transactions made on our site is 1.7% + ITBMS of the value of the transaction executed.

The commission charged by BITPoint for Margin Trading or for the purchase and sale transactions made on our site is 0.15% of the value of the transaction executed.

The fees that BITPoint charges for the opening of the margin position and the daily maintenance performed on the BITPoint website are 0.15% of the value of the margin position.

BITPoint, with the intention of incentivizing transactions, has a Cashback policy that works as follows

9.2 Fees or commissions from third parties. In addition to the fees, your external bank account may incur fees in connection with its use. Any fees imposed by your supplier or bank to your external account are not reflected in the BITPoint transaction screens that contain information about the applicable fees. You are solely responsible for paying the fees imposed by third parties.

9.3 Payment of fees. You authorize us, or our designated payment processor, to upload or deduct your BITPoint account. The funds in the account for any commission or fee applicable to the trading, transactions or orders that you execute on our site.

9.4. Payments with FIAT (Government Regulation Currency). BITPoint could make available to you the purchase of active crypto through payments using debit, credit cards or electronic transfers from a savings or current account of an authorized bank. In which case for any reason the amount of the purchase may exceed $ 10,000 per day. In addition, BITPoint at its discretion may use third party services to ensure that the means of payment used comply with all security requirements that the laws of Panamanian financial institutions establish and perform the review of each of the transactions executed on our site www. bitpoint.com.pa with FIAT money.

9.4.1 Application and Confirmation of Payments with Fiat

Only transfers from banks operating in Panama will be accepted, that is, BITPoint at its discretion will reject transfers of FIAT funds made from foreign accounts.

Transfers will only be accepted from own accounts, registered and approved by BITPoint Panama, for which the bank certificate must have been registered in the STEP 2 registration process.

In the hypothetical case that BITPoint identifies the income of money from / to a third-party account, a bank account of a person other than the one that is requesting the purchase or sale of crypto actives, such transfer will be rejected. This rejection will be autonomous and discretionary of BITPoint Panama.

BITPoint Panama will process your deposit once we confirm receipt of payment as follows:

For transfers in USD from your registered bank account (Deposit in USD currency to the BITPoint Panama customer deposit account):

The time cut of the system for deposits in USD that 5:00 p.m. local time of Panama, in business days. All deposits executed after 5:00 p.m. local time in Panama, in business days, will be

credited to the client’s trading account in a maximum of 3 business days.

Please keep in mind that financial institutions differ in their deadlines for money transfers.

2 For withdrawals in USD to the registered bank account:

The time cut of the system for withdrawals in USD that 5:00 p.m. local time of Panama, in business days. All withdrawals executed after 5:00 p.m. local time in Panama, on business days, will be credited to the customer’s registered bank account within a maximum of 2 business days.

On the Bank Deposits made in physical branches of AllBank

It is possible to make deposits for a maximum daily amount of $ 10,000. It is only possible to make such deposits in the following AllBank branch.

Torre AllBank branch

P. H Torre ALLBANK, Ground floor

51 East Street and Ave.Federico Boyd

Bella Vista, Panama,

Schedule

Monday 8AM–3:30PM

Tuesday 8AM–3:30PM

Wednesday 8AM–3:30PM

Thursday 8AM–3:30PM

Friday 8AM–3:30PM

Saturday

9:30AM–12PM

And the following account information

Account Name: BITPoint Panama

Checking Account

Account Number: 1110023611

3 Registered bank account:

Now in which the user creates a trading account in BITPoint Panama, they are requested to register a bank account that will be the account that, at the discretion of BITPoint, will be authorized for deposits and / or withdrawals in USD. These deposits and / or withdrawals can only be made from / to the bank account that the user registered at the time of creation of the BITPoint trading account. If BITPoint receives a deposit from an account that is not registered, the money will be returned to that account and the bank fees that are necessary to carry out this transaction will be deducted.

1.4 Crypto Withdrawals

Withdrawals that the client makes from his BITCOIN wallet to his BITPoint external wallet, client will be able to do it from his account, and this will be executed on the next working day (D + 1). This means that transaction is executed one business day after the request takes place in the BITPoint account.

9.5 Cash Back Policy

BITPoint, with the intention of incentivizing transactions, has a Cashback policy that works as follows:

10. Electronic notifications

10.1. Consent of electronic notifications. You agree and accept to receive electronically all communications, agreements, documents, receipts, notices and disclosures (collectively, “communications”) that BITPoint provides in connection with your BITPoint account and / or use of BITPoint services. You agree that BITPoint can provide you with these communications by posting them on our site, by emailing at the email address registered by you in your account. You must keep copies of electronic communications by printing a copy or keeping an electronic copy for your records. You can also contact us through our contact center to request additional electronic copies.

10.2. Hardware and software requirements. In order to access electronic communications, you will need a device with an Internet connection that has a current web browser with enabled cookies and 128-bit encryption. You will also need to have a valid email address in the BITPoint registry and have enough storage space to save sent communications or a printer installed to print them.

10.3. Update contact information. It is your responsibility to keep the email address registered in BITPoint completely up to date in which BITPoint can communicate with you electronically. You understand and agree that if BITPoint sends you an electronic or communicates and does not receive it because your registered email address is out of date or is incorrect or blocked by your service provider, or you cannot receive electronic communications, BITPoint will consider that you have provided the required communication. Keep in mind that if you use a spam filter that blocks or re-routes emails from senders that do not appear in the email address book, you must add BITPoint to your email address book so that you can receive communications We send you. You can update your email address at any time by accessing your BITPoint account or sending this information to our contact center at support@bitpointlatam.com. If your email address becomes invalid in such a way that electronic communications sent by BITPoint are returned, BITPoint may consider your account to be inactive, and may not be able to complete any transaction through our services until we receive a valid email address

11.Leveraged Transactions

11.1 BITPoint offers a service that allows trading using leverage. This is called leveraged Trading or Margin Trading. This service allows an increase that leverages the trading margin; is the process by which a Trader or merchant borrows money from BITPoint in order to buy or sell more crypto-assets or cryptocurrencies that the Trader is not able to pay at the time of the request. This trading margin therefore functions in some way as a short-term loan and allows the trader to increase his crypto-assets and the purchasing power he has. In addition, this can provide the opportunity to create much larger gains compared to what the Traders involved in the Market Trading would be able to generate normally.

11.2 To be eligible to participate in the leveraged transactions, you must consider the following considerations:

These transactions can be executed on our website www.bitpoint.com.pe

The cost of requesting or opening an account to trade with Leveraged Transactions or leveraged transactions will depend on the position in which it is opened.

Leveraged Trading – Features

Trading tools Online Trading Tool with web response, BITPoint ADVANCE

Type of Trading Leveraged Trading

How to use it

You can perform margin trading with your regular BITPoint account. The configuration for the Leveraged Trading can be adjusted in the user’s configuration.

Types of orders Market order, limit order, order of Stop Loss

Order unit 0.01 BTC

Trading pairs BTC/USD

Available Times to Do Leveraged Trading 24 hours a day and 365 days a year (except maintenance hours: 2:00 am-2: 10 am / all days) (PERÚ time)

Limit per order Market Order & Stop Loss Order: 30 BTC Maximum Per Order (Limit): 200BTC

Order Expiration Good till Cancel (GTC): The order is valid until it is executed or canceled.

Leverage (x) x2 (Up to 2 times the value), x5 (Up to 5 times the Value), x10 (Up to 10 times the value), x25 (Up to 25 times the Value)

Settlement method-Selected Settlement: You select which position you would like to liquidate and settle it.

Cross Order It is possible to have long and short positions simultaneously.

BTC / USD: Long 0.15% Short 0.15%

Maximum amount per position 200BTC

Spread Floating Spread

Alert In the event that the Maintenance Margin Index falls below 120%, an alert will appear on the customer management screen and you will be notified by email.

11.3 Leveraged Transactions Commissions

There are two types of fees for leveraged transactions:

Position opening fee

Daily position maintenance fee (Swap).

11.3.1 The fee to open a margin position is 0.05% of the total USD dollar value of the position. This value is only charged when a new position is opened.

11.3.2 When a position is moved the next day (a swap), a daily position maintenance fee of 0.15% of the total USD value of the position will be charged for each day the position is moved.

11.4 Types of Leverage

11.4.1 The customer chooses to leverage 2 times the value, 5 times the value, 10 times the value or 25 times the value of the current and actual balance of his account.

If the market price fluctuates continuously, even if the stop Loss rule is applied, there may be a loss that exceeds the amount of the margin inserted.

11.5 Cancellation of leveraged transactions:

11.5.1 When liquidating the holding position, the user must specify the position to be settled and the balance of his account.

11.5.2 When the margin of the maintenance rate falls below 100%, requests for new orders are canceled sequentially from newly executed orders (including small values) with a large margin restriction until the margin maintenance rate reaches 100%.

11.5.3 If the margin maintenance rate is not recovered 100% in the previous procedure, from the position held by the client to the position with a large loss of valuation, the settlement of the open position will be made until the maintenance rate of the margin reach 100%

11.5.4 Alert. When the margin rate falls below 120%, we will post the alert information in “Important Notice” on the top page of your account and we will send an alert email to your registered email address. “

12.Unreported property

12.1 Consent to Use

12,2. By accessing or using the services of our site www.bitpoint.com.pa, you agree that you will not violate any law, contract, intellectual property or other rights of third parties or commit a tort, and that you are solely responsible for their conduct while using our services. Without limiting the generality of the foregoing, you agree that you will not do any of the following activities:

12.2.1 Use our services in any way that may interfere with, alter, adversely affect or inhibit other users from fully enjoying our services, or that could damage, disable, overburden or impair the functioning of our services in any way;

12.2.2 Use our services to pay, support or otherwise participate in any illegal gambling activity; fraud; money laundering; financing of terrorist activities or the proliferation of weapons of mass destruction; or other illegal activities;

12.2.3 Use any robot, spider, crawler, scraper or other automated means or interface that attempts to access our services or extract data;

12.2.4 Use or attempt to use another user’s account without authorization;

12.2.5 Try to avoid any content or security filtering technique that we use, or try to access any service or area of our services that you are not authorized to access;

12.2.6 Develop third-party applications that interact with our services without our prior written consent;

12.2.7 Provide false, inaccurate or misleading information;

12.2.8 Encourage or induce any third party to participate in any of the activities prohibited under this section.

Feedback

14,1. Unless we indicate otherwise, all intellectual property rights and any other content and other materials contained in our website or provided in connection with the services, including, without limitation, the BITPoint logo and all designs , texts, graphics, images, information, data, software, sound files, other files and the selection and arrangement thereof (collectively, “BITPoint Materials”) are owned by BITPoint or our licensors or suppliers and are protected by the international laws of copyright and other laws of intellectual property rights.

14,2. This limited, non-exclusive, non-sublicense license to access and use the BITPoint content for your personal or internal business use. Such license is subject to these terms and does not allow (a) any resale of the content of BITPoint (b) the distribution, public or advertising public of any content of BITPoint (c) is modified or made use of a derivative document of BITPoint, or any part thereof; or (d) any use of BITPoint content. The license granted in this section will terminate automatically if we suspend or terminate your access to the services.

Third-party content

Suspension; Termination

Interruption of services

We can, at our sole discretion and without liability to you, with or without prior notice and at any time, modify or suspend, temporarily or permanently, any of our services.

18.Waiver of guarantees

18,1. Unless expressly provided otherwise in a document written by us, our services are provided on an “as is” and “as available” basis. We expressly reject, and you waive, all warranties of any kind, either express or implied, including, without limitation, implied warranties of merchantability, fitness for a particular purpose, title and non-infringement regarding our services, including information, content and materials contained in it.

18,2. you acknowledge that the information you store or transfer through our services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third-party providers, Internet interruptions, force majeure events or other disasters including third-party DDoS attacks, scheduled or unscheduled maintenance, or other causes within or beyond our control. You are solely responsible for endorsing and maintaining duplicate copies of any information you store or transfer through our services.

Limitation of liability

19,1. Unless otherwise required by law, under no circumstances shall BITPoint, our directors, members, employees or agents be liable for any special, indirect or consequential damages, or any other damage of any kind, including but not limited to loss of use. loss of profits or loss of data, whether in an action in contract, tort (including but not limited to negligence) or in any other way, arising out of or in any way related to the use or inability to use our services or the content of BITPoint, including without limitation any damage caused by or resulting from the trust by any user in any information obtained from BITPoint, or that result from errors, omissions, interruptions, deletion of files or email, errors, defects , viruses, delays in the operation or transmission or any failure of performance, whether or not resulting from a force majeure event, failure of com tampering, theft, destruction or unauthorized access to BITPoint records, programs or services.

19,2. to the fullest extent permitted by law, in no case shall the entire liability of BITPoint (including our directors, members, employees and agents), be it in contract, guarantee, tort (including negligence, whether active, passive or driven) , product liability, strict liability or other theory, arising out of or relating to the use of or inability to use the services, may exceed the fees paid by you to BITPoint during the 12 months immediately preceding the date of any claim. that gives rise to this responsibility.

20.Compensation

21.Applicable law; Arbitration

Please read the following paragraph carefully because it requires you to arbitrate disputes with us and limits the way you can look for a solution.

You and BITPoint agree to arbitrate any dispute arising out of these terms or use of the services, except for disputes in which either party requests equitable relief and another for the alleged illegal use of copyrights, trademarks, names commercial, logotypes, commercial agreements or patents. Arbitration prevents you from suing before a court or having a judicial process before a judge. You and BITPoint agree to notify each other in writing of any dispute within thirty (30) days of when it arises. The notice to BITPoint will be sent to legal@BITPoint.com. You and BITPoint agree, in addition: to attempt an informal resolution before any demand for arbitration; (b) that the arbitration will take place at the Arbitration Center of the Chamber of Commerce of Panama. (c) that the arbitration will be conducted in a confidential manner. Apart from the class procedures and resources discussed below, the judge has the authority to grant any solution that would otherwise be available in the Court. Any dispute between the parties shall be governed by these terms and the laws of Panama, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction. If the dispute is heard in the arbitration or court, you and BITPoint will not pursue a different lawsuit, representative action or proceeding.

Various

22,1. Complete agreement; Order of precedence.

22,2. Amendment.

We reserve the right to make changes or modifications to these terms at our convenience and necessity and at our sole discretion. If we make changes to these terms, we will provide notice of such changes, by sending an email, providing notice on the home page of the site and / or posting the amended terms via the BITPoint website, mobile applications and date update. “Last update” on top of these terms. The amended terms will be considered effective immediately after the publication thereof. In all other cases, the amended terms will become effective for pre-existing users in the previous one of either: (I) the date on which users click or press a button to accept such changes, or (II) the continued use of our services 1 day after BITPoint provides notification of such changes. Any amended terms will be applied prospectively to the use of the services after such changes are effective. If you do not agree with the amended terms, you must suspend the use of our services and contact us to delete your account.

22.3. Exemption.

Our failure or delay in the exercise of any right, power or privilege under these terms will not operate as a waiver of the same.

22,4. Divisibility.

The invalidity or unenforceability of any of these terms will not affect the validity or enforceability of any other of these conditions, all of which will remain in full force and effect.

22,5. Force majeure events.

22.5. BITPoint will not be responsible for (1) any inaccuracy, error, delay or omission of (I) any information, or (II) the transmission or delivery of information; (2) any loss or damage arising from any event beyond the reasonable control of BITPoint, including but not limited to flood, extraordinary weather, earthquake, or other act of God, fire, war, insurrection, riot, labor conflict , accident, government action, communications, blackout, hacking or operation of equipment or software or any other cause beyond reasonable control BITPoint (each, a “force majeure event”).

22,6. Assignment.

22,7. Headers

The headings of the sections are for convenience only and will not be used to limit or interpret those sections.

22,8. Durability.

Operations with Crypto Assets are not yet regulated in Panama, BITPoint is a company regulated in Japan and operates for good practices under the same standards in Panama.

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