Version one (1) 2023-05-16

Quickbit Website Account - Terms and Conditions

1. About these Terms

These terms and conditions (“Terms”), together with the Privacy Policy and any other terms and conditions that may apply to the Quickbit Website Account (the “Service”) and our website (“Site”), form a legal agreement between:

You (the Account holder); and
Depending on your country of domicile;
- For Gibraltar: Quickbit Limited, a company incorporated in Gibraltar with company registration number 116667, and whose registered office is at 57/63 Line Wall Road, Gibraltar, GX11 1AA, Gibraltar,
- For Lithuania: Fomiline UAB, a company incorporated in Lithuania with company registration number 305987883, and whose registered office is at Žalgirio g. 90-100, LT-09303 Vilnius, Lithuania,
- For Poland: Goriwire Sp.z.o.o, a company incorporated in Poland with company registration number 962387 and whose registered office is at Prezydenta Gabriela Narutowicza 40/1, 90-135 Łódź, Poland,
- For Sweden: QB Europe AB, a company incorporated in Sweden with company registration number 559265-3793, and whose registered office is at Lästmakargatan 20, 111 44 Stockholm, Sweden,

(jointly “Quickbit”). If you are domiciled in any other country than listed above and which is located within the European Union, the European Economic Area, or the United Kingdom, you will automatically become a customer of QB Europe AB. Meanwhile if you are domiciled in any other country than listed above or aforementioned, you will automatically become a customer of Quickbit Limited. Fomiline UAB and Goriwire Sp.z.o.o are wholly (100%) owned subsidiaries of Quickbit Limited which is a wholly (100%) owned subsidiary to Quickbit eu AB (publ). QB Europe AB is a wholly (100%) owned subsidiary of Quickbit eu AB (publ).

The Quickbit companies above are all fintech companies registered as virtual currency service providers with the Financial Supervisory Authority in their respective market (listed below),

Gibraltar: The Gibraltar Financial Services Commission.
Lithuania: The Financial Crime Investigation Service (Lt. Finansinių Nusikaltimų Tyrimo Tarnyba prie Lietuvos Respublikos vidaus reikalų ministerijos).
Poland: The General Inspector of Financial Information (Pl. Generalny Inspektor Informacji Finansowej).
Sweden: The Swedish Financial Supervisory Authority (Sw. Finansinspektionen).

You can always find these Terms through the Site.

By creating and using a Quickbit Website Account (“Account”) or using any of our other Site services you expressly represent and warrant that you have accepted and agreed to comply with these Terms and the General terms and conditions for the use of Quickbit’s websites

2. Who can create an Account?

You must be a private individual, 18 years or older and have the full capacity to accept these Terms and enter into a transaction involving cryptocurrencies. You may not be a politically exposed person (PEP).

When you submit a signup form to us to create an Account, you will have to provide information such as your name, address, phone number and date of birth. We do this for a number of reasons, including to check your identity, and to meet our legal and regulatory requirements. Our Privacy Policy explains more about how we use your information for these and other purposes.

You will also have to verify that the information provided to us is correct, provide us with proof of address and that the specified crypto wallet belongs to you. If you don’t complete the verification process, the Account will be assessed as an Unverified Account which may be terminated in accordance with section 10.

By signing up with us, you also agree to provide Quickbit with current, accurate and complete information about yourself as prompted by the signup/registration process, and to keep such information updated.

Please note that depending on your country of residence, you may not be able to use all functions of the Account and/or the Site. It is your responsibility to follow the rules and laws in your country of residence and/or country from which you access this Site and use the Account.

3. You must have a crypto wallet

In order to use the Account for buying crypto you need to have your own crypto wallet. You can read more about crypto wallets here.

4. The Service

The Service allows you to buy the cryptocurrency Litecoin (LTC) from Quickbit and receive this to your own crypto wallet (see section 3) as well as see your transaction(s).

5. Your use of the Service and your responsibility for the Account

The Service is for your personal and non-commercial use only. The Quickbit Group is vigilant in maintaining the security of our Site and the Service.

You agree to not use any Account other than your own or let someone else use your Account at any time or assist others in obtaining unauthorized access.

The creation or use of Accounts without obtaining the prior express permission from Quickbit will result in the immediate suspension of all said Accounts, as well as all pending purchase offers. Any attempt to do so or to assist others, or the distribution of instructions, software, or tools for that purpose, will result in the Accounts of the persons involved being terminated. Termination is not the exclusive remedy for such a violation, and Quickbit may elect to take further action against you.

You are also responsible for maintaining the confidentiality of your Account information, including your password, safeguarding your own LTC, and for all activity including transactions that are made to your Account. If there is suspicious activity related to your Account, we may, but are not obliged, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obliged to comply with these security requests or accept termination of your Account. You are required to notify Quickbit immediately of any unauthorized use of your Account or password, or any other breach of security, by sending an email to support@quickbit.com. If you violate these rules your Account may be terminated, and you may thereafter be held liable for losses incurred by Quickbit or any other user of the Site.

6. Pricing, fees and taxes

When you are using the Service, we will in some cases charge you a service fee. The amount of the service fee will always be available to you prior to a transaction. For the current prices and fees please see Pricing and fees.

Quickbit shall not be liable for any additional network or card fees that your card company may charge to complete a transaction. Please note that your card company may charge you in EUR even though you make the payment in your local currency.

When purchasing cryptocurrency through the Service, we have a limit of minimum ten (10) EUR per transaction.

You are responsible for determining your own tax liability with regard to the Service in order to be compliant with the tax regulation in your jurisdiction. Quickbit do not provide any tax-related advice or information and will not be responsible for assessing, collecting, reporting, withholding, or remitting any taxes on your behalf as a result of your transactions.

7. No investment advice

Quickbit does not provide any investment advice in connection with the Service. Each decision to purchase cryptocurrency is your own decision and we will not be held liable for any losses.

8. How can I stop being a customer?

You can stop being a customer and close your Account at any time, following settlement of any pending transactions. You can do this by emailing us at support@quickbit.com.

Also, if you do not make any new transactions during a six (6) month period you will automatically stop being a customer.

9. Are there any restrictions on using the Service?

The Service must not be used (directly or indirectly) as follows (please note that the list below contains examples):

for illegal purposes (such as committing fraud, money laundering, terrorist financing, proliferation financing or malicious hacking);
in a way that we believe might harm our ability to provide the Service;
to allow anyone else to have access to or use the Service on your behalf;
assist others in obtaining or attempting to obtain unauthorized access to the Account or the Service.

Any violations of these rules may result in us preventing you from using the Service without further notice or terminate the Service and the Account in accordance with section 10.

10. Can Quickbit delay or refuse a transaction?

We must refuse to perform a transaction, or delay a transaction, in the following circumstances:

if your instruction doesn't contain all the information we need to execute the transaction;
if legal or regulatory requirements prevent us from making the transaction or demand us to carry out further controls;
if you have violated these Terms in a way that in our assessment justifies us delaying or refusing your transaction;
if we assess that the processing of your instruction would violate these Terms;
if a bankruptcy order is issued against you or you've entered into an individual voluntary arrangement with your creditors;
if, even after doing everything reasonably possible, we won't be able to make the transaction on time;
if a third party prevents us from making the transaction;
if we have asked you for important information that we reasonably need in order to carry out your transaction and you have not given us that information; or
if we have blocked you from using the Service.

We won’t be responsible for any losses you suffer as a result of us delaying or refusing a transaction.

11. Can Quickbit block me from using the Service?

We have a right to block you from using the Service if, for instance:

we are concerned about your safety;
that it might be used fraudulently;
that it might be used without your permission; or
you do not provide the requested information.

We might also have to block you from using the Service to meet our legal obligations.

We will unblock you as soon as the reasons for blocking you from using the Service no longer exist.

Please note that from the time we ask you to provide us with certain information we expect you to provide us with this information immediately but no later than within fourteen (14) days from our written request thereof.

12. When can Quickbit terminate our customer relationship or my Account?

We have a right to terminate the customer relationship, your access to your Account or the Site for any reason by giving you two (2) months’ notice.

We also have a right to terminate immediately, in the following cases:

if you haven't given us any information we need, or we have good reason to believe that information you have provided is incorrect or not true;
if we have asked you for important information we reasonably need, and you haven't given us that information;
if you have violated these Terms in a serious or persistent way and you haven't put the matter right within a reasonable time of us asking you to;
if we have good reason to believe that your use of the Service or the Site is harmful to us;
if we have good reason to believe that you continuing to use the Service or the Site could damage our reputation or goodwill;
if you fail to pay for or fraudulently pay for any transaction;
if your Account is assessed as an Unverified Account;
if your Account has been inactive for six (6) months;
if you've been declared bankrupt;
if you’ve been declared deceased; or
if we have to do so under any law, regulation or due to court order.

13. Changes to these Terms

We will make changes to these Terms from time to time. For instance:

if we think it will make them easier to understand or more helpful to you;
to reflect the way of our business;
to reflect legal or regulatory requirements that apply to us and our business; or
because we are changing or introducing new services or products.

When we make any changes to these Terms that could affect your current use of the Service it will be showed two (2) weeks in advance on the Site. By continuing using the Service after the two (2) week’s period you are deemed to have accepted the updated Terms. However, you can always terminate the Service with immediate effect. Please see section 6.

14. If something goes wrong with the Service?

We will do as much as reasonably possible to make sure that the Service is not interrupted. However, we can't promise that this will always be the case or that the Service will be free from faults. In short, we cannot guarantee that the Service won't be interrupted or that you will not experience any delays etc.

We will not be responsible for losses resulting from us failing to provide the Service due to:

a legal or regulatory requirement;
unforeseeable events outside our control, which were unavoidable at the time, including but not limited to an event of force majeure;
criminal or any other illegal actions of third parties resulting in damage to you or any other person; or
the blocking of you using the Service when implementing legal requirements, including those in relation to anti-money laundering and counter-terrorist financing and counter-proliferation financing.

We won't be responsible to you for any of the following, whether direct or indirect, that arises in connection with these Terms:

loss of income or profit;
loss of goodwill or damage to your reputation;
loss of business contracts or opportunities; or
consequential loss.

15. Your responsibility towards us

If you breach these Terms, you may be responsible to us for certain losses. In such cases we may, at our discretion, do following:

hold you responsible for any losses, including losing profits, we suffer as a result of your actions; and
hold you responsible for any legal costs that arise as a result of our losses.

16. Customer support and communication

We provide customer support services for the Service, and you are welcome to contact us if you have any questions or issues. For contact information and opening hours see Contact Information and opening hours.

All communication will be conducted in English. Quickbit will use email as a general communication channel with you. When sending personal information to us, we recommend that you send the email in an encrypted format due to security reasons.

17. Complaints regarding the Service

In order for us to process your complaints we need information. Please email the information to support@quickbit.com.To handle your case, you might have to answer further questions.

As a start we need the following information:

your full name;
phone number and email address;
what the problem or issue is;
when the problem or issue arose.

18. Permission for us to process your personal information

In order for us to provide the Service we need to collect information about you, both from you, yourself and third parties. For more information about how we use your personal information, see our Privacy Policy.

By accepting these Terms, you acknowledge that we will gather and store your personal information for the purpose of providing the Service to you.

You further acknowledge that we may disclose your personal data to other entities within the Quickbit Group and that Quickbit will fully cooperate with any authorities or court order requiring us to disclose your identity or other details when using the Service or the Site.

We retain your personal data for the duration of providing the Service to you until your customer relationship has been terminated. Please note that some of your personal data will still be retained after the termination due to legal reasons.

19. Risks

The trading of goods and products, real or virtual, as well as virtual currencies involves significant risk. Currency prices can and do fluctuate on any given day and historical increases in value and returns cannot be used as future indicators of developments. Due to such price fluctuations, the value of your assets may increase or decrease at any given moment. You must therefore consider if our Service is suitable for you in light of your financial circumstances and appetite towards risk.

Virtual currencies may be subject to large swings in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. Also, online trading platforms themselves may be vulnerable from both a security and technical perspective, for example risk of hacking, which could lead to transactions not being executed and, in the worst case, assets being lost or stolen.

It is also important to remember that, in the event of loss, virtual currencies are neither protected by the governmental investor protection schemes nor deposit guarantee schemes.

20. Miscellaneous

These Terms are only between you and us. You cannot transfer any rights or obligations under these Terms to any third party without our prior written consent.

You however permit us to transfer or assign all of our rights and obligations under these Terms to any third party.

Governing law, dispute resolution and consumer rights

If you are a resident of Gibraltar, Lithuania, Poland or Sweden the laws of that country shall apply to these Terms. If you are a resident in any other country than the aforementioned, you will automatically become a customer of either QB Europe AB or Quickbit Limited, and these Terms shall be governed by either Swedish law or Gibraltar law. For more information please see section 1.

As a consumer you also have the right to file a complaint with a competent consumer authority should you wish to have your case assessed by an independent third party.

Gibraltar: The Office of Fair Trading. You may reach the authority through their website, click here.
Lithuania: The State Consumer Rights Protection Authority. You may reach the authority through their website, click here.
Poland: The Online Dispute Resolution platform provided by the European Commission, click here.
Sweden: The National Board for Consumer Disputes (Sw. Allmänna reklamationsnämnden (“ARN”)). You may reach ARN through their website, www.arn.se, or by sending a letter to the following address: ARN, Box 174, 101 23 Stockholm.

No right to withdrawal

Please be aware that the provisions regarding the right to withdrawal of financial services in Gibraltar, Lithuania, Poland and Sweden are not applicable on the Service due to fluctuations in the currency market which Quickbit cannot influence.