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This post is also available in: Dutch English

Some important terms for the trading policies of all available cryptocurrency such as Bitcoin, Ethereum, Litecoin, Dash, XRP and many more.
With each purchase and sale through Bitdenex, using the trading platform, you agree to our terms and conditions. Additionally, upon changes to these terms and conditions, you agree to the changes for the continued use of your Bitdenex trading account.

Identity of the company
Bitdenex B.V.
Office adress: (only with appointment)
G.T. Rietveldstraat 170A
1333 LJ ALMERE

Accessibility:
Monday to Friday from 09:30 am to 18:30 pm
E-mailadress: support@bitdenex.com
Phone number: (+31)6-11218226

Index: 
Article 1 – General provisions
Article 2 – Bitdenex Account
Article 3 – Orders and Transactions
Article 4 – Deposits and Withdrawals
Article 5 – Verification
Article 6 – Trade
Article 7 – Security
Article 8 – Risks
Article 9 – Confidentiality/privacy
Article 10 – Complaints and comments
Article 11 – Applicable law
  

Article 1 – General provisions

  1. Bitdenex is not a store or webshop. We don’t trade cryptocurrencies. User, traders therefore can’t claim any cancellation rights.
  2. Bitdenex does its utmost best to make all services work at its best.
  3. The trading platform will be operational 24 hours a day, 7 days a week, except maintenance but we can’t guarantee to be fully operational at any time.
  4. Bitdenex can’t be held responsible for any price fluctuations. Price fluctuations are fully dependent on supply and demand on the trading platform.
  5. Bitdenex and her employee will not make any statements about expected prices of any cryptocurrency. Possible statements of any employee regarding prices of cryptocurrencies will be based on a personal opinion, which no rights can be derived on. If there are any uncertainties, please contact the customer service department.
  6. Bitdenex acknowledged that you are familiar with the basic knowledge and functioning of cryptocurrency. You also acknowledge to be aware of the risks associate with cryptocurrency and to take the necessary steps. Please, consult your advisor in case of doubt about trading in cryptocurrency.
  7. It is strictly forbidden to use the trading platform for illegal activities such as money laundering, tax evasion and trading in illegitimately obtained cryptocurrencies.
  8. Bitdenex is not responsible, in any way, shape, or form, for any damage and using the trading platform caused by non-compliance of the terms and conditions by its users.
  9. Bitdenex provides support on customer service exclusively in Dutch and English language.
  10. Any damage caused in any way, shape, or form in case of force majeure, can’t be held liable on Bitdenex.

 Article 2 – Bitdenex Account

  1. If you are a citizens of the European Union, you can open an Bitdenex trading account. The trading platform is restricted to European citizens.
  2. You as user of the platform is responsible for complying with any laws concerning cryptocurrency and is expected to be aware of the legal status of cryptocurrency. We are not obligated to provide information concerning the legal status of cryptocurrency and therefore can’t be held liable if you violates any laws or regulations. Of course, as a customer service, we will provide you with important changes and changes wherever possible.
  3. Bitdenex is therefore not responsible if you violate local laws and regulations.
  4. You cannot transfer your account to another natural person or legal entity without the written permission of Bitdenex.
  5. It is not allowed to own more than one account per natural or legal person. If you want to open more than one account as a legal entity, please contact the customer service.
  6. You are required to have the minimum age of 18 years old and to be fully capable of independent (financial) decision making.
  7. Your are responsible for submitting the correct account data. Upon detection of the discovery of incorrect data, we are entitled to suspend the account and freeze funds.
  8. The verification process consists of a number of mandatory components including uploading certain documentation. You must provide valid documents upon verification.
  9. You are responsible for keeping your account data up to date by reporting any changes to Bitdenex. You will be held liable for any damage caused by submitting incorrect or insufficient data and by not reporting changes or not reporting them by time. Every change will take a 2-3 business day for processing the changes.
  10. If you don’t report important verification data or late with reporting this data, we can temporarily suspend your account and freeze all funds.
  11. The agreement between you and Bitdenex is for an indefinite period. Both parties are entitled to terminate the user agreement. Options will be offered to transfer funds to other addresses.
  12. You can cancel or close your account at any time. Follow the instructions on our website to close your account or contact the customer service.
  13. In the case of suspected or the established use of an account that is in violation of the terms and conditions, Bitdenex has the right to block or terminate the account. No compensation will be paid and Bitdenex may impose conditions on returning any outstanding funds.
  14. Strong requirements and conditions may be imposed on repayment or transfer of funds. These requirements and conditions depend on the situation.
  15. Bitdenex reserves the right, without reason, to disclose persons and / or legal persons access to our trading platform.

Article 3 – Orders and Transactions

  1. A market order cannot be changed into a limit order or vice versa.
  2. A market order is processed directly and cannot be withdrawn after it is placed. It cannot be retracted after the order has been sent. If you want to be sure of the price you want to trade, you must place a limit order.
  3. You must be aware of the risk that a market order may differ significantly from the shown estimation and is fully at the risk of the user. You are aware of the volatility of cryptocurrency and also bear the risk of the price difference. Different market orders cannot be undone and the difference, both positive and negative, will be taken into account
  4. Bitdenex cannot guarantee that there is always sufficient demand or supply to process / fulfil all market orders or limit orders.
  5. Bitdenex cannot give an indication of when and if a limit order will be processed. There is no guarantee for the full or partial processing of a limit order. In this case we are dependent on supply and demand. You are not guaranteed and we cannot provide warranty for the fulfilment of a market order or limit order.
  6. It is possible to cancel a limit order until the order is processed and to place a new order. In all other cases, it is not possible to cancel or change an order.
  7. Bitdenex processes transactions in a chronological order, based on the time of submission of the orders, unless you place a large order in consultation with Bitdenex customer service. The most favourable price will be searched for every order, based on the supply and demand at that time.
  8. Bitdenex is not responsible for any wrong trades done by you. As a customer, you are responsible for the correct data entry.
  9. Bitdenex may decide to cancel outstanding orders in case of long-term maintenance. After cancellation, you must place an order again.
  10. Bitdenex reserves the right to correct errors on the website and in its trading platform, even if it has positive or negative consequences for both parties.
  11. Both Bitdenex and you have no right and means to change or cancel a completed order.
  12. Bitdenex charge 0.05% on each trade for administration cost.

Article 4 – Deposits and Withdrawals

  1. There are limits for withdrawals and deposits. These limits are displayed on the Bitdenex website and the trading platform.
  2. Bitdenex reserves the right to change these limits at any time. Changes will be communicated on time via custom channels.
  3. Your successful iDEAL deposit will added to the balance of the user immediately after the payment is confirmed, provided that the account number used with the iDEAL payment is verified and no limits are exceeded.
  4. A deposit of cryptocurrency will be credited as soon as possible to your Bitdenex-account. We depend on the digital currency network. For example; A Bitcoin deposit requires at least three network confirmations. It may take a while for your deposit to appear on your Bitdenex-account. Bitdenex is not responsible for processing proper network confirmations.
  5. SEPA deposits are accepted only in Euros. As soon as other options are available, they will be communicated via the usual channels. If a different currency is used, all conversion fees will be passed on to you.
  6. Bitdenex strives to process withdrawals and deposits in euros within one business day, but not later than five business days, except in cases of force majeure.
  7. Bitdenex is not responsible for any problems with payments due to a malfunction or other problems with your bank. In many cases, a pay-out can no longer be cancelled. If a payment has been processed to the data provided, Bitdenex is no longer responsible for further processing by a third party.
  8. Bitdenex has no influence on the processing speed of SEPA transfers.
  9. It is your own responsibility to provide the correct bank details. Bitdenex is not responsible for incorrect and incorrectly entered data.
  10. There will be a charge if a SEPA deposit cannot be credited due to an incorrect description, a different account number, or in case a SEPA cancellation order is refused by your bank.

Article 5 – Verification

  1. It is not allowed and also not possible to use the trading platform anonymously. We want to know at all times who uses our services to help you better. You must proceed through the verification process to use the trading platform.
  2. Your submitted information will be retained until one year after your Bitdenex-account is closed or longer if required by law. As long as you use our services, we need to keep your information. You are responsible for uploading valid documentation.
  3. Bitdenex reserves the right to request additional documentation without giving a reason when your identity has not been verified sufficiently.
  4. If your Bitdenex-account has not yet been verified, you have limited access to the trading platform and other services. You cannot deposit and withdraw money in this case.
  5. Bitdenex reserves the right to change the verification process if the laws and regulations required and for the protection of our business.
  6. If, after repeated requests, you do not meet the additional requirements or do not provide requested documentation, Bitdenex may decide to block or close your Bitdenex-account.

Article 6 – Trade

Below are some terms that you explicitly agree to if you trade your cryptocurrency through the Bitdenex trading platform.

  1. You trade cryptocurrency in the form of a proprietary right without representing fixed values. The value of the cryptocurrency is determined by Bitdenex and by submitting a purchase transaction, you agree with the value determined by Bitdenex.
  2. The value of your purchased or received cryptocurrency can fluctuate strongly. Bitdenex offers no guarantee of the value of your cryptocurrency. You are aware of the risks that may arise in trading in cryptocurrency as volatility is very high. There is also no guarantee for retaining value for the future.
  3. Bitdenex is not responsible for any late transaction caused by the network. Of course you can count on cooperation and you are entitled to support Bitdenex as far as possible.
  4. You agree to the fact that completed payments and transactions as well as receiving and sending cryptocurrency cannot be undone. The risks are for your own if you place or enter an incorrect transaction. Entering the correct data such as Bitcoin, Ethereum and Litecoin addresses and the quantities is your own responsibility. Bitdenex is not responsible for your mistakes.
  5. Bitdenex reserves the right at any time to block suspicious transactions and to conduct an investigation. This also applies to suspected fraud and abuse. The costs incurred for such research may be charged to you. Depending on the outcome of the investigation, the transaction will be executed or denied with further notice.
  6. You agree that cryptocurrency such as Bitcoins, Ethereums, Litecoins and other currency cannot be returned. You can always use the exchange function and exchange your digital coins for another available currency.
  7. Bitdenex does not provide an invoice because we assume you are a private trader. If you are not a private individual, you can request an invoice through our existing contact points. Tax deduction is not possible.
  8. You explicitly acknowledge that you are 18 years of age or older. When verifying your Bitdenex-account, you must provide a valid ID-card showing that you are 18 years of age or older.
  9. You are responsible for the safe storage of your cryptocurrencies. We will protect your cryptocurrencies that you hold at Bitdenex. Our advice is only informative and does not provide any guarantees.
  10. Bitdenex is not responsible in case of force majeure, bankruptcy, unforeseen circumstances or other unusual circumstances, your payment / purchase or sale could not be processed in good time. In such cases, we may decide to cancel your purchase, sale, payment or deposit. In this case, the situation will be the best solution for both parties.
  11. You send your Bitcoins, Ethereums, Litecoins and other coins to us given addresses. We can only make payments once all Bitcoins, Ethereums, Litecoins and other coins have been received and the transaction (s) is / are confirmed by the network.
  12. If you are using Bitcoins and other coins through the trading platform, you hereby indicate that you are familiar with the business and know exactly what the risks are. Some of the risks you agree with are, for example, that you know that the price may fluctuate considerably and that you can lead to losses for which you are responsible.
  13. Providing the correct data (bitcoin address or addresses of other digital coins and payment data) is your responsibility. Any damage caused by providing incorrect data cannot be collected on Bitdenex. Bitdenex is not responsible and able to check your entered data for accuracy. If your information does not match the information you provided during the Bitdenex account verification, we will be required to block and cancel that transaction.
  14. You declare that there is no deduction from the offered Bitcoins, Ethereums, Litecoins and other coins. You also acknowledge the consequences of providing incorrect information.
  15. You declare that the offered Bitcoins, Ethereums, Litecoins and other coins have been legitimately obtained and you do not know of a possible illegal character of the origin. In some cases, the origin of the digital coins is checked and may be requested for additional information. Bitdenex is entitled to suspend a transaction temporarily until the legitimacy is established. If the legitimacy cannot be shown, the money will be refunded.
  16. Bitdenex regularly monitors customers with many and / or major transactions and may request additional information. Bitdenex has the right to temporarily suspend a transaction.

 Article 7 – Security

  1. You are responsible at all times for the safe use of your Bitdenex account in a safe environment. Bitdenex is not responsible for any damage caused by your own fault.
  2. You must keep your password and two-factor authentication data good and carefully. You must provide a way to keep your data secret.
  3. Bitdenex will never ask for your login information or your two-factor authentication data. In case of doubt, always contact our customer service.
  4. You may not respond to requests to halt your data without after checking through other sources.
  5. You are not entitled to damages if your money and funds are alienated by your own fault or liability. Bitdenex is not responsible for your mistakes.

 Article 8 – Risks

  1. Bitdenex strives to comply with all regulatory requirements for electronic money institutions.
  2. Bitdenex does not have a (bank or AFM) license because it is not necessary. We are also not registered or under the supervision of the Dutch Financial Markets Authority or De Nederlandsche Bank NV for the services we offer and the trading platform.
  3. You are aware of and take full responsibility for the risks associated with trading in cryptocurrency.
  4. Digital coins (cryptocurrency) are not covered by AFM and DNB. There are no warranties for value and value retention or any control by a government agency such as AFM or DNB.

 Article 9 – Privacy

  1. Your information provided is stored and treated under strict terms and conditions.
  2. Your information will not be disclosed to an unauthorized third party.
  3. All correspondence between Bitdenex and you are confidential and may not be published or given to third parties without permission. A discovery of unusual publication without permission can affect the use of our services and trading platform.

 Article 10 – Complaints and comments

  1. Your complaint and / or comment can be made by email or by letter. We will respond to your complaint and / or remark as soon as possible.
  2. If your complaint and / or comment requires additional explanation, you must provide it with all truth.
  3. Bitdenex will do everything to reach a solution or satisfactory response.
  4. Your complaint and / or comment will be kept for any evaluation and improvement of our services.

 Article 11 – Applicable law

  1. These terms and conditions are governed by Dutch law.
  2. In the event of a conflict between the parties, Dutch law applies.
  3. For any solution or problem, Bitdenex will apply Dutch law.
  4. Dutch law is applicable to the terms and conditions.