Terms & Conditions

  • 1. The Service Provider and the third party using the site in the Internet network located at https://www.bitowo.com have concluded the present Agreement on the following conditions. Any questions relating to this term should be directed to legal@bitowo.com
  • 2. Terms and definitions
    • 1. In the present Agreement the following terms have the meaning indicated below, unless otherwise stipulated:
      Term Definition
      'User Account Data' User Data necessary to access and use the System login, password, email and other data indicated during the registration process as well as after it.
      'Instrument' Money and cryptocurrency used during the execution of Deals.
      'Cryptocurrency' Digital currency that has no central issuer and is distributed directly between the owners of such currency.
      'Exchange Rate' Relation between the amount of instrument and the price offered by the User for Deals of exchanging instrument.
      'Dashboard' Set of protected pages created as a result of the User registration in the System, using which the User can to place Orders for further execution of Deals as well as instruct the Service Provider commissions stipulated by the present Agreement. The Dashboard reflects information about placed and cancelled Orders, closed Deals, available funds and/or Cryptocurrency and other information stipulated by the functions of the Site.      
      'Order' User's offer to close a Deal on certain conditions.
      'Privacy Policy' Rules of collection, storage, distribution and protection of personal information that the Service provider gets from the Users and that represent an essential part of the Agreement which text is available at https://www.bitowo.com/cms/policy.
      'Anti-Money Laundering Policy' Program on prevention of laundering of money derived from criminal activity and financing of terrorism, which constitutes an essential part of the Agreement which text is available at https://www.bitowo.com/cms/aml.
      'User' Capable under the personal law natural person that uses the Site and/or the System and has concluded the corresponding Agreement with the Service Provider.
      'Site' Set of information, texts, graphic and design elements, pictures, photo, video and other fruits of intellectual activity, as well as set of computer programs contained in the information system which ensures the accessibility of this information at https://www.bitowo.com .
      'Deal' Agreement on onerous alienation of rights on Cryptocurrency concluded between the Users of
      'Service Provider' Bitowo LTD., a legal entity registered according to the constitutional law of Nigeria.
      'System' Set of software and technical means used by the Service Provider in automatic mode to process operations conducted by the User in his/her Personal Cabinet.
      'Agreement' The present User Agreement.
      'Parties' The Service Provider and the User.
      'Account' Functional part of the System that controls User's Instrument and operations conducted with them.
      'Fees' Information about the fees of the Service Provider and the prices for additional services rendered by the Service Provider constantly available at https://www.bitowo.com/fees .
      'Limit Trade Buyer' This represents a user buying a particular order, in other words 'Buyer'        
      'Limit Trade Seller' This represents a user selling a particular order, in other words 'Seller'
      'Chat' The System's function intended for instant messaging between the Users. This could be served via a third party with their dedicated terms and condition, and by using the service, you accept to such terms.
    • 2. The rest of terms and definitions that can be found in the text of the Agreement should be interpreted by the Parties according to the legislation of Nigeria and to the general tools of understanding of such terms accepted in the Internet network. 
  • 3. These Terms and Conditions are an agreement between you ("the user" or "user") and Bitowo LTD, a company incorporated in Nigeria. By using our services, you are agreeing to be bound by all of these terms and conditions. We reserve the right and discretion, to add, remove, or modify portions of these Terms of Conditions at any time. Your continued use of our website (www.bitowo.com), applications and our services means that you accept any new or modified terms. We may also impose limits on certain features and services or restrict your access to part or the entire website without prior notice or liability.
  • 4. The service provider provides an online tool that allows users to buy and sell the Internet tokens known as Bitcoins, Ether (Ethereum), and any other "virtual" or "math" coin in existence.
  • 5. Except as expressly provided in this Agreement, all of the content on this site is the property of Bitowo LTD and is protected by international copyright laws.
  • 6. All funds transferred into your account with Bitowo LTD is for the exclusive use of purchasing/selling virtual or math coins only.
  • 7. Funds transferred to your Bitowo account can only be withdrawn to your personal account matching with the name you have with us on file. We will not assist you in transferring your funds to a third party account nor do we condone you transfer into your account from such, as this violates our TOS.
  • 8. Know Your Customer (KYC) Documentation: You agree to provide true, current and complete information about yourself during the registration process. If you are an authorized representative of a company, you declare that you have the authority to bind the company to this Agreement. We are required by law to obtain, verify, and record information identifying each person who opens an account. Hence, when you open an account, we ask that you provide certain documentation to identify yourself and to verify the information you have submitted to us upon registration. Such documentation includes an identification card or a passport, a utility bill, a bank statement or any document proving your identity issued by a governmental body. We reserve the right to refuse or reject a registration at our own discretion or based on regulatory restrictions imposed on us.
  • 9. We are required by law to inform you that trading is risky. There are various factors, such as the international prices volatility, which are very difficult to predict. Due to such volatility, in addition, no financial contract purchased or other service offered on our Website may be considered as a safe trade.
  • 10. Do not enter into transactions or invest funds that are above your financial abilities. Also, certain financial products are not suitable for people without the relevant knowledge and/or experience. This is why we provide you with different options in terms of products and services, depending on your abilities and knowledge. If you would still wish to open an account, we will ask you to acknowledge that you are aware of the financial risks.
  • 11. We reserve the right to terminate services at any time for any reason.
  • 12. Unauthorised access of our site is a breach of these Terms and Conditions. You agree not to access our sites by any means other than the interfaces we provide for use in accessing them. Any misuse of this website will result in the seizure of involved accounts and funds. Victims of fraud will not receive refunds, but will be notified and advised on how to prevent such future problems.
  • 13. You agree not to use this website in any malicious manner or in anyway which may constitute a contravention of the law. This includes but is not limited to money laundering, terrorism or any other type of illegal activity of any sort.
  • 14. In the case of a dispute between users, we will not intervene to settle the matter. Whilst we do our best to resolve any disputes, we cannot be held liable for any losses sustained from the use of this website. Trades that are concluded are irreversible.
  • 15. You are responsible for securing and recovering stolen or cracked logins. All users of this website are responsible for the outcome of their actions with regard to their account balances. Users are also responsible for protecting access information to the Website including, but not limited to, user names, passwords, and bank account details.
  • 16. We make no promises that our content or the service itself will be delivered to you uninterrupted, timely, secure or error-free. In fact, we are not making any promises or warranties except that we won't intentionally lie to you.
  • 17. You agree that under no circumstances shall Bitowo LTD be liable for any direct, indirect, incidental or any other type of loss or injury resulting from your use, or downloading of any content on our site. This includes, but is not limited to, loss or injury caused in whole or in part by our negligence or by contingencies in creating or delivering any portion of the Site.
  • 18. You agree to indemnify and hold harmless Bitowo LTD, and its parent, affiliates, directors, officers and employees from and against any claim, liability, cost, damage or loss we may incur (including, without limitation, legal fees) as a result of any violation by you of your obligations under these terms and conditions. When in doubt, please obtain independent legal advice concerning the buying/selling/trading of virtual or math coins under the local laws of your jurisdiction.
  • 19. Bitcoin or other Cryptocurrencies are decentralized currencies that operates on open source software protocols which can be used, modified or adapted by anyone; provided that certain changes require a certain amount of consensus among the community using and supporting the network. As a result of the decentralized nature of bitcoin and other cryptocurrencies, it is possible that sudden, unexpected or controversial changes (“forks”) can be made to them. It is also possible that such forks result in multiple versions of such "Cryptocurrency" existing simultaneously. By using Bitowo you acknowledge and agree that: (i) Bitowo does not own or control the bitcoin network or any cryptocurrency network and is not responsible for any losses you may incur as a result of the functionality or security of the network and (ii) Bitowo is not responsible for forks or changes to the bitcoin network or any cryptocurrency network, any of which may result in significant and sudden changes to the value and/or usability of such cryptocurrency.
  • 20. Laws in the country where the user resides may not allow the usage of an online tool with the characteristics of Bitowo LTD or any of its features. Bitowo LTD does not encourage and cannot be held liable for the violation of any such laws.
  • 21. If any provision in this Agreement is invalid or unenforceable, the remaining provisions will continue in full force and effect.