General terms for Bitmynt AS
- All customers must be identified in accordance with
the requirements of the Anti-Money Laundering Act and
its regulations. We also need information about the
purpose of the customer relationship and other details
to assess the risk of money laundering and terrorist
financing. The information we collect and how we
process it is described in the privacy terms. If it is
not possible to perform satisfactory customer due
diligence, for example because you do not want or
cannot provide documentation of your identity or the
origin of funds involved in the customer relationship,
we must reject or terminate the customer
relationship.
- Your user account is personal and must not be lent
out to others. Use a secure password and keep it to
yourself.
- When you trade with a fixed exchange rate at Bitmynt
AS, meaning that you agree to lock in the exchange
rate that is valid when you enter into an agreement to
buy bitcoin, or sell bitcoin for a certain amount of
Norwegian kroner, or pay a bill for a certain amount
of Norwegian kroner, the agreement is binding for both
parties. You are obligated to pay the agreed amount,
and we are obligated to send you the agreed amount in
Norwegian kroner and bitcoin.
- You can agree to buy bitcoin at the exchange rate
that is valid when we have received the money and send
the bitcoin. Then you will get the current exchange
rate at the time we have received and confirmed the
payment and broadcast the bitcoin transaction.
- Bitmynt AS generates its own exchange rate based on
current rates at selected bitcoin markets in Europe
and the USA and prevailing exchange rates for
Norwegian kroner against EUR and USD. If an error
occurs in our underlying data so that the exchange
rate becomes more than 5% incorrect, we may correct
the exchange rate afterwards. In such a case, Bitmynt
must be able to document what the error is, and what
the exchange rate would have been if the underlying
data were correct. Affected customers shall then
receive a rate that is 1% better than the calculated
rate.
- Bitmynt AS must always know where to send the
bitcoin before we can receive Norwegian kroner from
you. If we receive a money transfer without knowing
which agreement it pertains to, we must send the money
back to the account number they came from.
- When you buy bitcoin from us, you have five minutes
to transfer the money. We do not expect the money to
arrive immediately, but you must pay within the
deadline so that the money is included in the first
transfer between the banks after the trade is
agreed.
- Transfer the exact amount and use the correct
message in the transfer.
- The money must come from your own bank account. If
you are buying on behalf of someone else, or paying
with a credit card, you must transfer the money to
your own account first.
- Some of our services may have their own terms that
apply in addition to these. We may also change the
terms at short notice. In that case, you will receive
a message about the change when you log in to the
website. Minor changes and clarifications that do not
constitute real changes to the terms, such as
correcting spelling mistakes, will not be
announced.
See also terms for automatically selling BTC to us.
