As used herein, "COINAGENT.NET" refers to the company COINAGENT.NET, including without limitation thereby, its owners, directors, investors, employees or other related parties. Also when used throughout these Terms, "COINAGENT.NET" may refer to the services, products, web site, content or other materials (collectively, "materials") that COINAGENT.NET provides.
COINAGENT.NET's Services provides a Holder interface for buyers ("Buyers") and sellers ("Sellers") to buy and sell via the Internet the digital-cash currency known as "Bitcoins" (For more information on Bitcoins, please see our forum).
COINAGENT.NET's services also include the ability for all registered Holders of the service ("Holders") to:
transfer Bitcoins to other COINAGENT.NET Holders or any other Bitcoin holders.
use Bitcoins for making online transactions.
There is significant risk when conducting transactions whether real or virtual including buying and selling virtual currencies. There are price fluctuations every day, even with virtual currencies such as Bitcoins. Therefore, these price fluctuations could cause the value of your assets to increase or decrease at any time. Any currency, real or virtual, may be subject to large variations in value and could lose all of their value. When you buy, sell or trade on a market, you assume the inheriting risks of these transactions.
Bitcoin transactions are unique when compared with country-sponsored currencies or goods in a market. Unlike these other currencies or goods that can be backed by governments or other legal entities, or by commodities such as gold and silver, Bitcoin is a particular currency that relies on technology and the holders of Bitcoins. Bitcoins do not have a centralized bank to adjust their values or release more currency to the market.
The system for Bitcoin transactions is not regulated and attempts to maintain the privacy of Bitcoin transactions is similar to that of using cash. Bitcoin holders, whether companies or users, have to rely on a technological system of peer-to-peer transactions and the security of these systems to maintain the integrity of the currency.
Buying and selling Bitcoins are uniquely tied to the digital market fluctuations and are based on the Bitcoin holders' trust in the currency, which might significantly reduce the need for the digital currency compared to the Holders' accounts. The confidence in Bitcoins and their value could see significant swings due to:
Technical firms implementing major changes to how Bitcoin transactions are conducted;
Governments imposing stricter rules and regulations on Bitcoins, including Bitcoin service companies, holders and marketplaces;
A more advanced and stable digital currency being created;
A marketplace overhaul in valuing or devaluing the currency.
Confidence in Bitcoins could quickly erode because of technical problems: transactions are not anonymous; large quantities of Bitcoins are lost or stolen; or governments and/or hackers disrupt Bitcoin transactions from being fulfilled.
COINAGENT.NET's banking providers receive Holders' deposits and conduct payments. All Bitcoin transactions occur through COINAGENT.NET; the banking providers ARE NOT involved with the buying, selling, or transferring of Bitcoins.
3. LIMITED RIGHT OF USE
4. Your account
By using this web site, you agree to use it for only your personal and noncommercial use. COINAGENT.NET maintains the strictest security for this web site and its services. By registering with COINAGENT.NET, you agree to provide COINAGENT.NET with current, accurate and complete information about yourself and agree to keep the information updated. In addition, you agree to access only your account, not try to access any other Holder's account, nor assist anyone in illegally authorizing any COINAGENT.NET Holder's account.
You are also responsible for maintaining the confidentiality of your account information, including your password, safeguarding your own Bitcoin, and maintaining the security of transactions occurring from your account. Any suspicious activity associated with your account may result in the account being suspended, additional authenticating documents being requested, and transactions being put on hold pending COINAGENT.NET's review. Your account will be terminated if you do not agree to and comply with these security requests. You are required to notify COINAGENT.NET immediately of any unauthorized use of your account or password, or any other breach of security by contacting COINAGENT.NET at info@COINAGENT.NET Any Holder who violates these rules may be removed from the web site, and thereafter held liable for losses incurred by COINAGENT.NET or any of its other Holders.
You also agree in registering and opening an account with COINAGENT.NET that you will not conduct any illegal activity, including but not limited to: money laundering, illegal gambling operations, terrorist financing or malicious hacking.
You have the right to close your account and end this agreement with COINAGENT.NET at any time, pending the completion of any open transactions.
COINAGENT.NET may suspend or terminate accounts that have been inactive for six months or more, and/or modify or discontinue this web site and its services. Account holders agree that COINAGENT.NET will not be liable to them or to any third party for termination of an account or access to the web site.
Suspended accounts are still subject to the fees and commissions of any past transactions. Upon termination, account holders shall provide a valid bank account to acquire their account funds. The account holder must be the owner of the bank account. The Holder's Bitcoin account may be converted to currency, dependent upon the current market value of Bitcoins, and then these funds transferred to the bank account. COINAGENT.NET shall transfer the currencies as soon as possible following the Holder's request in the period allotted by COINAGENT.NET.
COINAGENT.NET will transfer the balance of your account; however, beneficiary banks or any other third parties involved with any transaction may deduct their own fees or commissions. COINAGENT.NET provides all attempts to notify you of any said fees prior to transferring any payments to you; however, these charges may not be disputed. These fees and commissions may not be calculated in advance. You are still responsible for any such charges.
7. APIS AND WIDGETS
COINAGENT.NET may provide access to certain third parties to access specific data and information through the API (Application Programming Interface) or through widgets. You may also use these features to put data on your web site. These widgets may be used free of charges in there unaltered, original states.
8. EXTERNAL WEB SITES
COINAGENT.NET is not affiliated nor completely endorses any third-party's web site that you might access through this web site. The web site may provide links or other forms of reference to other sites ("External Web Sites") or resources over which COINAGENT.NET does not operate or have control. COINAGENT.NET provides these external links only as a convenience for you to use at your sole discretion.
COINAGENT.NET is not responsible for the operation of and materials of the third-party web sites. It is your responsibility to review the terms for such sites regarding your privacy, usage and/or security. COINAGENT.NET is not responsible for third-party content accessible through the web site, including financial or other statements, market value data, currency values, and any other activities or references. You assume all risks shall bear all risks associated with the use of such content. You assume all risks when accessing any external web site and it is your responsibility to take appropriate actions to ensure that any external web site does not contain viruses, worms, Trojan horses and other items of a destructive nature. COINAGENT.NET's security is limited to its web site and does not extend to any external site.
9. FINANCIAL ADVICE
10. FINANCIAL REGULATION
COINAGENT.NET and its services provides the facilitation of buying, selling and trading Bitcoins and their use to purchase goods in an unregulated, international open payment system. The Services we provide are currently unregulated within the Hong Kong.
COINAGENT.NET cannot guarantee the security of email messages via the Internet. Emails are subject to criminal hacks, and, as such, COINAGENT.NET is not liable for any losses or damages that you may incur when sending these types of messages whether to COINAGENT.NET or another account Holder. COINAGENT.NET highly recommends sending email in encrypted formats.
13. LIMITATION OF LIABILITY
COINAGENT.NET will not be held liable for any damages, loss of account funds, financial incursions, loss of profits, or any other business detriment, whether through any criminal activity or fraudulent negligence. These terms does not exclude nor limit any involved parties from any negligent or criminal fraud, death or personal injury, breach of terms implied by operation of law, or any other liability that by the law cannot be precluded.
COINAGENT.NET's total responsibility for any activity occurring in connection with any account Holder's use of the web site and/or services, whether in contract or tort (including negligence) or otherwise, shall NOT exceed (a) the total amount held in the account for the holder making a claim less any amount of commission that may be due and payable in respect of such account; or (b) 125% of the amount of the transaction(s) that are the subject of the claim less any amount of commission that may be due and payable in respect of such transaction(s).
You agree that COINAGENT.NET is not liable in any suspension of this web site or its services for factors beyond COINAGENT.NET's control, including but not limited to: an event of Force Majeure, government restrictions, changes to laws, or enforcement of revised sanction policies, during the time period of such events.
16. MODIFICATION OF TERMS
Bitcoins: A digital-cash currency used to fulfill peer-to-peer transactions.
Holder(s): Buyers and Sellers as well as any Holder of a COINAGENT.NET Account.
Price: "price per coin" for which Holders are willing to buy or sell Bitcoins, using COINAGENT.NET's Services in a Bitcoin Transaction. The Price may be expressed in any of the currencies deposited by Holders in their accounts and supported by the Services.
Seller(s): Holder(s) that submit an offer to sell Bitcoins through the COINAGENT.NET Services.
Service(s): the technological platform, functional rules and market managed by COINAGENT.NET that allows Sellers and Buyers to complete Bitcoin Transactions.
Transaction: (i) the agreement between the Buyer and the Seller to exchange Bitcoins through the Service for currencies at a commonly agreed rate ("Bitcoin Transaction"), (ii) the conversion of currencies into Bitcoins deposited by Holders on their accounts, (iii) the transfer of Bitcoins among Holders ("Bitcoin Transfer Transaction"), (iv) the transfer of currencies among Holders ("Currency Transfer Transaction") and (v) the purchase of ancillary products ("Purchase Transactions"). COINAGENT.NET may not provide all of these transactions through its Services and web site.
Transaction Price: total price paid by the Buyer regarding each Transaction conducted by COINAGENT.NET's Services.