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Welcome to Bitsooq.net

Bitsooq is a peer-to-peer Bitcoin exchange that allows buyers and sellers to post ads, communicate, and trade with each other. We don’t require that sellers deposit any Bitcoin in Bitsooq's wallet before being able to place an ad on our platform. All trades on this site are conducted between users of the service. Bitsooq may help resolve disputes between buyers and sellers. Acting as an escrow provider, Bitsooq is not itself a party of any Bitcoin trade or transactions conducted by its users. Before you create an account you must accept our Terms of Service and Privacy Policy. By accepting this Agreement or by using the service you expressly acknowledge and agree that you are entering into a legal agreement with Bitsooq and have understood and agreed to comply with, and be legally bound by, this Agreement. For changes to these Terms of Service that will significantly affect your rights and obligations we will strive to notify you before the changes take effect. You can terminate this Agreement at any time by concluding any outstanding trades and other obligations.

Registration and User Account

To use our services or access this site or some of the resources it has to offer, you may be asked to provide registration details in order to register a user account ("User Account" or "account"). It is a condition of use of this site and our services that, all the details you provide are correct, current, and complete. If we believe the details are not correct, current, or complete, we have the right to deny you access to the site or any of its resources, and to terminate or suspend your account. To be eligible to use our services you must be at least 16 years old. You may only use your own account on Bitsooq and you may only have one account registered. You may only act on your own behalf. You may not use your account to act as an intermediary or broker for any person or entity. You are not allowed to sell, borrow, share or otherwise make available your account or any detail necessary to access your account to people or entities other than yourself. You are responsible for maintaining adequate security and control of any and all usernames, passwords. Your account must not contain misleading or fraudulent information, including, but not limited to having a non-personal phone number. Creating fake reputation information for your account, faking your country of origin or providing fraudulent identification documents is prohibited.

Bitcoin Trading

You can initiate bitcoin trades ("trade"" or "contact") to sell bitcoin by sending trade requests to advertisements created by other users. By sending a trade request you agree to be bound by the terms and conditions of the trade as selected and determined by the advertiser (whether by selecting from options available to advertiser for advertisements or by any freeform terms and conditions set out by the advertiser in the Terms of trade field) and displayed on the advertisement page. The terms and conditions specified by the advertiser are valid in all cases except when they contradict or violate these Terms of Service, are unreasonable or otherwise difficult to comply with, are illegal, or if both parties of the trade consent to alter the terms and conditions of the trade. The exchange rate, bitcoin amount, payment window, payment method and other terms and conditions of the trade that are visible on the advertisement page prior to sending a trade request cannot be altered once a trade request has been sent and the trade has started.

Selling Bitcoin

When you are selling bitcoin it is your responsibility to check that you have confirmed, independent of the buyer and their payment evidence, that you have received payment for the full amount, that the payment is not made by a third party to the trade, and that it was made according to your instructions given to the buyer. After you have released your bitcoin to the buyer it is not possible to cancel, reverse, dispute or otherwise recover or return the bitcoins to you. Payments made by buyers must be sent by the same person that registered and uses the account. Payment details provided by sellers must match the name of the Bitsooq account holder. Making, providing, or attempting to make or provide payments to or from third parties is considered a violation of this agreement. All communication relevant to the trade must happen in the trade chat part of the trade in such a way that it is readily available for Bitsooq support staff to review. Communication that has not occurred on Bitsooq or that has been hidden, encrypted or otherwise obstructed from view is not taken into consideration during dispute review and dispute resolution.

Escrow Service

Bitsooq offer an escrow service that protects buyers and seller form fraud and scams. Bitsooq charges 2% for this service, and the escrow service is not mandatory. However if you decide to not use our escrow service you will have no protection for your trade and you may be exposed to fraud and scams. You will be fully responsible of the trade. When you initiate a transaction with a seller, you can request the seller to deposit the bitcoins in our bitcoin escrow address. Once the bitcoin received we will send you an email to inform you and the status of the transaction will change to ‘’escrow protected’’. Once you have the confirmation the bitcoin have been received in our address escrow address, you could securely make your payment to the seller. Once the seller received his payment it is his responsibility to release escrow. Then bitsooq will send you your bitcoins. 

Disputes

Only the buyer can dispute a transaction. Dispute are only available on escrow protected transaction. If don’t use our escrow service you won’t be able to dispute a transaction. As soon as the status of the transaction changed to ‘’escrow protected’’, the buyer will have the right to dispute. Bitsooq changes a flat fee of 7% to solve a dispute on a transaction.

Unresponsiveness

When you are involved in a bitcoin trade it is important that you remain active and available from the time the trade is started to the time that the trade is completed, canceled, or resolved. This means that you must be able to provide a response to a request by Bitsooq support in a disputed trade within 24 hours or you may be deemed as unresponsive and the dispute may be resolved against you.

 

Dispute Review

During a dispute review Bitsooq support may give you instructions that you are required to follow. The instructions given to you may require you to provide proof of payment, proof that you have or have not received payment (e.g. bank transaction history), additional ID verification, photo; audio; or video evidence, or any other documents deemed relevant by Bitsooq. Unless otherwise specified by Bitsooq, these documents must be added to the disputed trade itself. Failure to follow the instructions may lead to the dispute being resolved against you.

 

Dispute Resolution Criteria

A disputed trade is most commonly resolved by Bitsooq support moving the escrowed bitcoin to the buyer or the seller of the disputed trade once the dispute resolution criteria are met.

 

In rare situations where neither party fulfill the criteria, or it is in other ways unclear or not possible to determine which party has fulfilled the dispute resolution criteria, Bitsooq may decide to resolve the dispute by splitting the escrowed bitcoin between the buyer and the seller evenly or unevenly.

 

Dispute Resolution Criteria

Bitsooq can resolve a disputed trade to a bitcoin buyer when one of the following criteria are met:

 

The buyer has made payment according to the instructions provided by the seller in the trade chat, advertisement terms of trade, or advertisement payment details and the buyer has provided sufficient proof that the payment was made according to these instructions.

The seller has become unresponsive.

Bitsooq can resolve a disputed trade to a bitcoin seller when one of the following criteria are met:

 

The buyer has not provided payment or not provided payment in full

The buyer has become unresponsive

The payment made by the buyer has been held/frozen/stopped by the payment provider

The buyer has not provided payment according to the instructions provided to them by the seller in the trade chat, advertisement terms of trade or advertisement payment details.

The payment is made by a third party to the trade OR the payment is made from a payment account not registered in the name of the buyer.

If the buyer or the seller of a disputed trade provides fraudulent information or fraudulent documents or makes false claims or otherwise tries to force a certain outcome of a disputed trade the dispute may be immediately resolved against the user.

 

Reputation and Rating

After each transaction, every User has a right to rate his cooperation with the other User. Such ratings are used by Bitsooq to define User’s reputation. User’s reputation is an indicator which shows the other Users and bitsooq, how honestly and responsibly this particular User behaved during the course of his previous deals.

 

Advertisements

You can create bitcoin trade advertisements ("advertisement"" or "ad" or "ads") to advertise that you want to sell bitcoins. Other users can send trade requests to you from the advertisements that you’ve created. When a trade request is sent to you a bitcoin trade is automatically started.

 

When you have advertisements enabled you are required to be active and available to reply to trades started from these advertisements. If a dispute is initiated in a trade against an advertiser who is not active and available the advertiser may be deemed unresponsive as per this agreement and the dispute may be resolved against them.

 

Information and payment details you provide in advertisements and trades must at all times be correct and up to date. Disputes may be resolved against you if you include out-of-date payment details and a buyer completes payment accordingly. Refusal to complete trades or to provide payment details for trades opened from your advertisements is considered a violation of this agreement.

 

The price or price equation that is defined in the advertisement details must contain any and all fees that the advertiser requires the buyer to pay. After initiation of a trade the price is locked and cannot be changed or any additional fees added without consent from both parties of the trade.

 

We have the right to, limit, suspend, or terminate your account or access to the services that we provide to you if:

 

we have a reason to believe that you have acted in violation of these Terms of Service or applicable laws or regulations or if we have a reason to believe that any content or material submitted or shared by you in or through the services violates these Terms of Service or applicable laws or regulations or third party rights;

we suspect that you use the services to engage in, attempt to engage in, or in connection with fraudulent activity, money laundering, terrorist financing or other financial crime;

we have reason to believe that you have supplied false, misleading or deceptive information in connection with your registration, identity verification, trades or any other use of our services, either to us or to another user;

we are required to do so under any applicable law, regulation or an order issued by an authority;

make available content or behave in a way that libels, defames, invades privacy, stalks, is obscene, pornographic, racist, abusive, harassing, threatening or is offensive;

if you use the services in a manner which may cause the services to be interrupted or damaged or such a way that the functionality of the services is in any way impaired or attempt to bypass or break any security mechanism of the services or if Bitsooq believes in good faith that such action is reasonably necessary to protect the security of its services or its property or brand or the security, property and rights of its users or those of third parties;

attempt any unauthorized access to user accounts or any part or component of the service.

You acknowledge that our decision to limit, suspend, or terminate your account, may be based on confidential criteria that are essential to our risk management and security protocols and that we are under no obligation to disclose the details of our risk management and security procedures to you.

 

Fees and Pricing

The services are provided to you against fees determined on a per transaction and/or per trade basis in accordance with the prices and pricing principles set out on our website. Such fees may include fees for incoming and outgoing transactions, percentage based fees for trades completed, and percentage based fees for merchant invoicing services deducted from the paid invoice amount.

 

Unless otherwise specified fees are automatically deducted from your Bitsooq wallet balance or deposit at the time when the service is rendered or completed.

 

Allowed Jurisdictions

To use services provided by Bitsooq you may need to fulfil certain legal obligations in your country and/or state of residence. By accepting these terms and service you confirm that you have reviewed your local laws and regulations and that you are aware of, and fulfill, any and all such obligations.

 

Identification and Verification

If we are obliged to do so by the law or in accordance with our internal policy, we may at any time introduce or amend mandatory identification / verification procedures and require you to complete our identification and/or verification and may also require you to submit identification documents to bitsooq. Failing to complete identification and/or verification will be considered as a violation of this agreement. 

 

Intellectual Property Rights

You acknowledge and agree that all copyrights, trademarks and all other intellectual property rights in and related to this site and our services is exclusively the property of Bitsooq and our licensors. We grant you a revocable, non-exclusive, non-sublicensable, non-transferable and limited license, subject to the terms of this Agreement, to access and use our site and service, as well as related content, materials and information (collectively, the "Content") solely for approved purposes as permitted by us from time to time. Any other use of the Content is expressly prohibited and you agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part.

Bitsooq is not associated with or does not itself support or claim to be in partnership with any of the payment methods, services or companies which may appear visible in the Online Payment method lists or advertisement details. Also, services provided by Bitsooq are not authorized, approved, endorsed or sponsored by any of the payment methods listed on the website or their respective trademark owners. Payment method listings are visible on Bitsooq.com for informative purposes only.

 

Bitsooq is not responsible for any user-generated content on its site including but not limited to messages, feedbacks or advertisements but may remove or modify said content without notice or liability at any time in its sole discretion.

 

This site may contain links to other sites on the Internet. These sites may contain information or material that some people may find inappropriate or offensive. These other sites are not under the control of Bitsooq, and you acknowledge that (whether or not such sites are affiliated in any way with Bitsooq) Bitsooq is not responsible for the accuracy, legality, decency, or any other aspect of the content of such sites.

 

Bitsooq.com reserves the right to modify or discontinue, temporarily or permanently, all or any part of this site and/or any software, facilities and services on this site, with or without notice, and/or to establish general guidelines and limitations on their use.

 

If and to the maximum extent permitted by applicable law, we will not be liable for:

 

any economic losses (including without limitation loss of revenues, profits, contracts, business or anticipated savings);

any loss of goodwill or reputation;

any special or indirect or consequential losses, howsoever arising

in any case whether or not such losses were within the contemplation of either of us at the date on which the event giving rise to the loss occurred. Without limitation, you (and not us) assume the entire cost of all necessary servicing, repair or correction or correction in the event of any such loss or damage arising.

 

Nothing in these Terms of Service shall exclude or limit our liability based on willful conduct or gross negligence. If and to the extent applicable law does not allow the above limitations of warranty and liability, such limitations shall not apply to you.

 

Notwithstanding any other provision in these Terms of Service, nothing shall limit your rights as a consumer under mandatory provisions of applicable consumer protection legislation.

 

Questions?: 

Send us an email: support@bitsooq.net