1. SCOPE

1. These terms and conditions ("Terms") apply to the usage of the services ("Services") provided by Bittr AG ("Bittr", "we", "our", or "us"). By using the Services as customer ("Customer", "you", "your", or "yours"), you accept these Terms and confirm that you understand our Services.
2. Services provided by Bittr include the exchange of fiat currency ("Fiat") transferred by you to a Bittr bank account into bitcoin ("Bitcoin") transferred to your bitcoin address ("Wallet").
3. The usage of Services also includes the access and usage of websites operated by Bittr ("Websites").
4. If you do not agree to these Terms, you may not use the Services, or access the Websites. These Terms incorporate by reference Bittr's privacy policy ("Privacy Policy").
5. We reserve the right to change these Terms at any time, and by using the Services and the Websites, you are expected to review such Terms on a regular basis.

2. SERVICES

2.1 WHAT YOU SEE

6. We define a "Transaction" as the entire process, which begins with your Fiat reaching a Bittr bank account and ends with us sending Bitcoin to your Wallet.
7. If it is your first time to send us Fiat from your bank account, you need to tell us the address of the Wallet where you would like us to send the Bitcoin. Also, you will want to give us an email address, where we can send you the confirmation details of your Transactions. To gather those details, our Website will guide you through a simple initial registration process.
8. We must ensure that the Customer sending the Fiat from a bank account (i.e., initiating the Transaction) is also the owner of the Wallet linked to that bank account. The initial registration process therefore requires you to verify your control over the Wallet by signing a unique message with your private key. (Note: We will never ask you for private keys!)
9. You need to complete the initial registration process only once, which will irrevocably link your bank account's IBAN to the Wallet. Each time you initiate a Transaction thereafter, we will know which Fiat amounts need to be transferred to which Wallet.
10. If you would like to send Fiat from a different bank account, or if you would like to receive Bitcoin to a different Wallet, you can simply register again. If you send us Fiat from an unregistered bank account, we have to return the Fiat minus expenses.
11. Using our Services, you generally don’t have to provide us with any personal details. This means, on the other hand, that we cannot accept Fiat payments above Swiss Francs 999.99 ("Limit")– neither in a single transfer nor in connected transfers. If you send us Fiat exceeding the Limit, we will return you at least the amount exceeding the Limit back in Fiat.
12. Please note: if we suspect any attempt to spread a Transaction exceeding the Limit over several single Transactions (also referred to as ‘smurfing’), we are legally obliged to identify you before processing or returning your Fiat. Also, we will be required to evaluate the Transaction(s) in the light of our duties to report suspicions for money laundering and terrorist financing activities to the authorities. We wish to keep your privacy, as well as minimize the administrative burden occurring on our side. Using our Services, you agree to respect the Limit.

2.2 WHAT YOU DON'T SEE

13. From the Fiat we receive, we will deduct a transparent fixed fee of 1.5%, as well as a EUR/CHF 1,00 surcharge for transactions below EUR/CHF 100,00 to cover increased banking costs. For the remainder, we instruct a third-party broker to convert it into Bitcoin at the best possible rate. Using our Services, you acknowledge that we in no way guarantee a specific conversion rate, and that the amount of Bitcoin you receive to your Wallet depends on numerous factors out of our control. For example, due to the volatility of Bitcoin prices, it makes a big difference whether we receive your Fiat on a Monday morning or a Saturday evening.
14. The only additional charge which is deducted from the Bitcoin prior to reaching your Wallet is your portion of the Bitcoin mining fee, which goes directly to the miners and varies (at times significantly) from day to day; you will find further information on mining and mining fees here.
15. Typically, it takes us no longer than a day to return you Bitcoin to your Wallet. However, it might take longer in extraordinary circumstances. We generally choose to pay comparatively low Bitcoin mining fees, which may result in an extended time period before our Bitcoin transfer obtains its first confirmation from the network. You agree that the choice of mining fee paid is entirely at our discretion, and that you may not hold us responsible for its effects.
16. Naturally, we will confirm you each Transaction by email with a detailed breakdown of the exchange rate and our costs and commission.

2.3 WHAT YOU MUST UNDERSTAND

17. We do not maintain permanent business relationships. Our relationship with you as Customer begins with you initiating the Transaction and ends with us closing the Transaction.
18. We offer our Services exclusively to individuals. Using our Services, you confirm that you act on your own behalf as an individual, for your own account, and not on behalf of a legal entity or for the account of anyone other than you.
19. Further, we exclusively accept SEPA transfers to Bittr bank accounts. Any other method of transferring Fiat to Bittr bank accounts will be rejected at the expense of the initiator.
20. It is your sole responsibility to ascertain that engaging in any Transaction with Bittr, and generally buying and holding Bitcoin is legal in the jurisdiction to which you are subject. You also confirm that Bittr did and does not solicit you as a Customer and that you initiated any contact with Bittr unassisted.
21. You acknowledge that the initiation of a Transaction is irrevocable, so that once your Fiat reaches a Bittr bank account, you are not entitled to claim the Fiat back, and we are entitled to send the Bitcoin equivalent to the Wallet. On the other hand, we are obliged to convert your Fiat into its Bitcoin equivalent as soon as possible. You understand and agree that we have no way to predict or guarantee the exact conversion rate, while we promise that we always try to get optimal rates at the time of conversion.
22. Not only during a Transaction, but particularly after you receive Bitcoin, its value may increase or decrease greatly. We don’t accept any liability for its value, and by using our Services, you confirm that you buy Bitcoin based not on any recommendation of ours, but on your own judgement.
23. You also acknowledge that we are never responsible for the safety and your access to your Wallet and its contents. We do not accept any liability for financial loss related to your Wallet.

2.4 REGULATORY DUTIES

24. According to Swiss law, Bittr is a financial intermediary and is therefore required to affiliate with a self-regulatory organization. We are a member of VQF (Financial Services Standards Association, see https://www.vqf.ch/en) and must strictly adhere to the Swiss anti-money laundering laws, as well as to the VQF regulations.
25. Using our Services, you acknowledge that at times we might be compelled to suspend, or even refuse to process Transactions to comply with applicable laws. Further, we might be required to investigate the details of a Transaction or a Customer, and in certain cases even report suspicions to authorities. You confirm that you will not use our Services for any illicit behavior and agree to assist us with any investigations with information (such as identification) about you or the Fiat.
26. In addition to where we the laws and regulations oblige us to do so, we reserve the right to generally suspend or conclude our Services where we suspect any fraudulent, abusive, or otherwise illicit behavior by a Customer.

2.5 REMAINING TOPICS

27. The Websites are offered ‘as is’, and we make no warranties of any kind related to the Websites or the information and materials contained thereon.
28. You may always reach out to us via support@getbittr.com, and we will try to respond within reasonable time..
29. You agree not to hold us responsible for any failure or non-performance of our Services (and any damages or losses resulting thereof) where the failure or non-performance is due to circumstances beyond our control and not induced by gross negligence on our part.
30. You agree to fully indemnify us from and against all liabilities and costs arising in any way related to your breach of any of the provisions of these Terms.
31. These Terms constitute the entire agreement, and supersede all prior agreements, between you and Bittr regarding the Services. If any provision of these Terms (in whole or part) is held to be illegal, invalid or otherwise unenforceable, the other provisions will remain in full force and effect.
32. These Terms are governed by Swiss law and subject to the exclusive jurisdiction of the courts of Zurich.

BITTR AG is legally located in Zürich and registered in the Trade Register with number 210.059.556.