TERMS AND CONDITIONS

These Terms and Conditions are for the purpose of stipulating the rights and obligations of the Company and its members in relation to the terms and conditions of use of the BitFarm Exchange and BitFarm Exchange services provided by Corexfy Co., Ltd. (will be stated as “the company” from now on)

Introduction

This agreement is between the member and the service operator, BitFarm.  It means that you have read, understood and aaccepted all the services, privacy policy on how we collect, use, process and disclose your personal information and that you agree to its services provided through the BitFarm website (https://www.BitFarm.com), API (https://api.BitFarm.com).

This agreement is legally binding so it is crucial that you read the contract and its contents carefully before you embark on using the company site.  By registering, gaining access to and starting to use our service means that you are showing consent to our terms and conditions stated on the contract.

If you do not agree to these terms and conditions please request to cancel your membership at BitFarm and stop to use its service. 

If you would like a detailed description about BitFarm, please refer to the license information and company introduction on the website. 

Contract Conditions

BitFarm has the authority to change the details of the agreement at any time freely.  BitFarm holds the responsibility to update any changes on the terms and conditions, and needs to announce any changes or new information on the website, and to notify their members regarding these updates. If the member continues to use its service, it means that they are agreeing to and giving consent to the updated agreement and its terms.

Restrictions for Use

In order to become a member of BitFarm, you need to be over 18 years old, and must be an individual, company or other enterprise who has the capability to hold legal liability to comprehend the terms and conditions.  If not, the member and the member’s guardian must take legal responsibility for the results caused due to the member’s actions BitFarm has the authority to cancel or freeze the member’s account in addition to claim the member and the member’s guardian for compensation.

 

Denied for use

By accessing and using the services provided by BitFarm, you acknowledge and declare that you are not on the list of trade or economic sanctions such as the UN Security Council sanctions list or the OFAC (US Department of the Treasury). BitFarm reserves the right to choose which markets and jurisdictions to operate.

Services to certain countries can be restricted or denied.  The contents of this Agreement shall not be excluded from the laws of the country in which you are located.  BitFarm maintains a position to prevent prohibited users from accessing BitFarm and the services provided by BitFarm.

Prohibited countries: US, North Korea.

 

Service Description

BitFarm provides an online digital asset trading platform for products commonly known as cryptographic tokens, digital tokens, or encrypted currencies. BitFarm functions as a trading platform provider and is not a buyer or seller in the transactions between members.  BitFarm is not a market maker. Traders must register their account with BitFarm and deposit their digital assets before commencing the transaction. Traders may request withdrawals of digital assets in accordance with the restrictions set forth in the Terms of Use.

Although BitFarm will strive to maintain the accuracy of the information posted on the website, but cannot guarantee the reliability, perfection and compatibility, and accuracy of its content and will not compensate for any loss or damage.  The information related to BitFarm website may be directly or indirectly changed without any prior notice, and has its main purpose in helping the members to independently make their decision.  BitFarm does not provide investment advice services and as stated on other websites and telecommunications media sources, BitFarm does not hold any accountability for the use or interpretation of the information as specified on the website or other communication medium. All users of BitFarm must be aware that there is a risk associated with the transaction.

BitFarm emphasized on the security of the platform to ensure the security and continuity of its service, however does not take responsibility for malicious hacking, terror attacks, and other unexpected circumstances

BitFarm has the authority to cancel, trade back or block all physical trading in case a  suspicious transaction has been detected.  BitFarm has no right to demand a password or request a transfer of funds that does not exist on the platform.

Members agree to the fact that BitFarm does not hold accountability in case of situations mentioned above arise.  By agreeing to use the service BitFarm provides, members are giving consent that all information regarding BitFarm and its Terms are true and accurate.

 

Requirements for registering accounts at BitFarm. 

Registration

All users must register their accounts at BitFarm before they start their use on the site.  In order to register an account, members must provide their real name, electronic email address and password and needs to agree to the Terms and sign on the Privacy Policy.  Depending on certain conditions or situations or at the discretion of the individual, opening bank accounts may be denied. 

Identification of the user

When you register an account at BitFarm, it is required for you to consent to share personal information that was collected.  This information is used to detect money laundering, terror financing, fraud and other financial crimes, especially on the BitFarm platform.  In addition to providing this information, in order to facilitate compatibility with world industry standards for data retention, members agree to allow such information to be retained for five years after the termination of the account and for the term of the account.  A member agrees that the identity of a member may be verified or other inquiries may be made to protect the member and the company from financial crimes such as fraud.

The information we collect from you may include name, address, contact info. telephone number, user name, identification card issued by the government authorities.  By providing the above information the member must be able to verify that the information is true and not forged.  After registering, members must prove that the information they provided are up- to- date in case of any changes.  In case the information is not true or correct, and suspicion arises that the information provided by the member is not true or correct, outdated or incomplete, BitFarm may send notice to the member to correct, delete the relevant information, and in some cases delete all information.  If you are unable to contact us through the contact information provided by yourself, you are solely responsible for any loss or expense incurred while using the BitFarm Service.  Member acknowledges and agrees that if any changes are made, obliges to keep all information up-to-date.

 

Requirements for using Account

Only members who have completed their email verification are allowed to use their accounts.  BitFarm reserves the right to temporarily suspend, freeze or cancel a member's account. Therefore, BitFarm is not liable for these accounts. 

 

Account Security

BitFarm is committed to maintaining the safety of user funds entrusted to us and maintains industry-standard security for the platform. Members are responsible for safekeeping their BitFarm accounts and passwords, and BitFarm will not be held liable for damages caused by the disclosure of BitFarm accounts and passwords due to member's negligence.

Members must agree to the following

• If members become aware of any unauthorized use of your BitFarm account and password or violation of the security rules, you must notify BitFarm immediately.
• Members must strictly adhere to the security, authentication, processing, billing, withdrawal mechanisms or procedures of the website / service.
• After using the service, members may log out and complete the use.

BitFarm will not be held responsible for any loss or consequences resulting from your failure to comply with the above account security provisions.

 

Dispute Resolution

BitFarm reserves the right to resolve issues and disputes at its sole discretion.  Some issues include violating the rights of others, violation of laws and regulations, unusual transactions, and other issues not expressed or mentioned in these Terms and Conditions. You are agreeing to bear the cost that incurred during the resolution process.

Regulations for using Davit Service

Member agrees to abide by the following commitments while using BitFarm Services.

• All activities carried out while using the BitFarm Service must comply with applicable laws, regulations and various guidelines. BitFarm will not infringe upon public interest, public morality or interfere with the reasonable interest of an individual or party.
• You will not avoid payable taxes or fees and will not violate this Agreement or any applicable rules. In case of the systematic error, the member shall immediately report the error to the BitFarm exchange and wait until an appropriate action is taken. In the event of a breach of trust of any of the foregoing, resulting in legal consequences, the Member shall independently perform all legal liability in his or her own name and shall indemnify BitFarm from any action, claim or cost arising out of such breach of trust. Members will not use any data or information displayed on the Site for commercial purposes without prior consent from BitFarm's in writing. You will not engage in any unfair competition, nor interfere with normal operation of BitFarm, and use the Site in accordance with these Terms of Use and Privacy Policy. Examples of such malicious behavior include:
• Utilizing any software or sub-routine, or harmful device that interferes with the website.
• Requesting unreasonable data overload on network equipment
• Malicious sales or distribution in the market
• Member agrees that BitFarm will determine whether the Member is in breach of contract and take steps to enforce the relevant rules without the member's consent or prior notice. Examples of these behaviors include:
• Block or Close the order
• Freeze the account
• Asset collection
• Report the case to the authorities

 

 

• Post the the violation and action taken

 

• Remove the violation information

If a member's breach of contract causes damages to a third party, the Member shall have full legal responsibility in his / her name and shall not cause BitFarm to suffer damages, fines or any additional costs. If BitFarm has suffered a loss due to an alleged infringement or has been subject to penalties imposed by administrative authorities, you must reimburse BitFarm for losses and expenses, including attorneys' fees.

Service Charge

BitFarm holds the right to charge fees upon the members that use its service. BitFarm reserves the right to impose service charges on users who use the Service.  The fees charged to users who use the Service are adjusted at the sole discretion of BitFarm.

 

Responsibilities

Service Provided

BitFarm does not provide any form of guarantee related to the reliability of its technology, accuracy, perfection while trading.  BitFarm simply provides a platform in which it makes it possible to trade cryptocurrencies and receive all types of information regarding cryptocurrency.  Care must be taken to consider the relevant investment risks, trade information and the validity of investment decisions prior to using the services BitFarm provides.

 

Limitations of Liability

BitFarm will not be held liable for any loss arising out of any of the following, including:

• Profit, Data loss, or other intangible loss
• Service suspended due to inspection
• Unauthorized use of the account or unauthorized alteration of data by a third party
• Other losses not directly attributable to BitFarm in connection with BitFarm Services

In no event shall BitFarm be liable for any service interruption or delay caused by external factors, such as periodic network maintenance or power outages, natural disasters, service provider issues or government actions.

 

Notice

All official and public announcements, news, promotions and information related to competitions and Air drop notices can be found on the notice board, and it is recommended that all members regularly subscribe to it.  BitFarm does not take any responsibility or compensate for members who did not subscribe to the publishings and due to their own fault was made to incurr a loss to themselves.

 

Termination of Contract

Whenever the member decides they would like to discontinue the use of its service or does not agree to the Terms and Conditions stated on the contract, members are allowed to terminate the contract by making a request through Manage Information Menu within the service or simply by contacting customer support.

The Company shall deal with the request to terminate their membership   according to the relevant laws and regulations.  However, the Company shall not be liable for any damages incurred by the Company without the intention or negligence from the Company in the process of canceling the use of its service  according to the member's request.

The Company may restrict the use of the Service by setting a time when the following reasons occur and may request corrective action. If you do not make a correction within a reasonable period of time despite the request for correction or if you repeatedly made the violation more than 2 times, you may cancel the contract.

• In case of conduct or attempt to interfere with the smooth progress of the service provided by the company.
• Violation of related laws and regulations, such as illegal communication and hacking, distribution of malicious programs, and excess access rights, which violate laws related to the provision and operation of illegal programs in violation of copyright law, promotion of information network utilization and information protection, etc.
• In addition, in cases where there is a reason that the contract can not be maintained due to a reason similar to each case

Upon termination of the contract, all benefits received through the use of the service will expire and the company will not compensate for it.

When the termination of the contract is completed, all personal information of the member will be deleted except for the part which the company needs to hold according to the related laws and personal information processing policy.

If the company decides to terminate the user agreement, the company may retain the member's information for a certain period of time in case a member makes an objection and needs to receive and process it but after the period has elapsed, may delete all information (except for cryptocurrency selling/buying details).

 

Compliance with local laws

 

It is your responsibility to comply with local laws regarding the legal use of BitFarm in your jurisdiction. You must also acquire all aspects of taxation, withholding, collection, reporting and remittance to the appropriate tax authority within the scope of local law. All users of BitFarm and its services must acknowledge and declare that their sources of funding were done a legitimate manner and were not derived from illegal activities. BitFarm maintains a partnership with law enforcement authorities around the world and will not hesitate to capture, freeze, or terminate accounts and funds of users investigated by legal authorities.

 

Privacy Policy

BitFarm may, from time to time, publish and amend its privacy policy on the BitFarm Platform, as the Privacy Policy is an integral part of this Agreement. The latest version of our Privacy Policy is always available on our website.

 

Indemnification and Disclaimer

Except for cases in which BitFarm has breached its trust, members will be exempted from any claims received through 3^rd parties and compensation requests from affiliates including BitFarm.  As mentioned in the service description, BitFarm is committed to maintaining its data integrity on the site, but does not guarantee the information and services provided by that platform. BitFarm shall not be liable for errors resulting from the use of the Services.

Complaints

If members encounter any problems or questions while using the service, or would like to share their opinions, please contact the Notice board through 1:1 Query.

 

BitFarm Privacy Policy

[Last revised: 30 JAN 2019]

This Privacy Policy explains how BitFarm Holdings Limited (“BitFarm”) collects, uses, shares, and protects user information obtained through the BitFarm.com website. The terms “we,” “us,” and “our” refer to BitFarm Holdings Limited and its affiliates. When we ask for certain personal information from users it is because we are required by law to collect this information or it is relevant for specified purposes. Any non-required information you provide to us is done so voluntarily. You decided whether to provide us with these non-required information; you may not be able to access or utilize all of our Services if you choose not to.

By using the Site, you consent to the data practices described in this Privacy Policy. On occasion, BitFarm may revise this Privacy Policy to reflect changes in law or our personal data collection and use practices. If material changes are made to this Privacy Policy, the changes will be announced by posting on the site. We will ask for your consent before using your information for any purpose that is not covered in this Privacy Policy.

The latest privacy policy has incorporated elements from the General Data Protection Regulation (GDPR) as we act in accordance to its personal information processing rules within the European Economic Area (EEA).

INFORMATION BitFarm COLLECTS

We want you to understand the types of information we collect when you register for and use BitFarm’s services

Information you provide to us at registration

When you create a BitFarm Account, you provide us with personal information that includes your contact information (Email Address, name, and a password). You can also choose to add a phone number for SMS or Google Authenticator account to be used for 2FA verification for improved security.

Information we collect when authenticating user identity

To comply with global industry regulatory standards including Anti-Money Laundering (AML), Know-Your-Customer (KYC), and Counter Terrorist Financing (CTF), BitFarm requires user accounts to undergo user identity authentication for both Personal & Enterprise-level accounts. This entails collecting formal identification.

Information we collect as you use our services

Service Usage Information

Through your use of the BitFarm platform, we also monitor and collect tracking information related to usage such as access date & time, device identification, operating system, browser type and IP address. This information may be directly obtained by BitFarm or through third party services. This service usage data helps us our systems to ensure that our interface is accessible for users across all platforms and can aid during criminal investigations.

Transaction Information

For all personal and enterprise user accounts, we collect transaction information including deposit snapshots, account balances, trade history, withdrawals, order activity and distribution history. This transaction data is monitored for suspicious trading activity for user fraud protection, and legal case resolution.

WHY DOES BitFarm COLLECT THIS INFORMATION

To provide and maintain our services

We use the information collected to deliver our services and verify user identity.
We use the IP address and unique identifiers stored in your device’s cookies to help us authenticate your identity and provide our service. Given our legal obligations and system requirements, we cannot provide you with services without data like identification, contact information and transaction-related information.

To protect our users

We use the information collected to protect our platform, users’ accounts and archives.
We use IP addresses and cookie data to protect against automated abuse such as spam, phishing and Distributed Denial of Service (DDoS) attacks.
We analyze trading activity with the goal of detecting suspicious behavior early to prevent potential fraud and loss of funds to bad actors.

To comply with legal and regulatory requirements

Respect for the privacy and security of data you store with BitFarm informs our approach to complying with regulations, governmental requests and user-generated inquiries. We will not disclose or provide any personal information to third party sources without review from our legal case team and/or prior consent from the user.

To measure site performance

We actively measure and analyze data to understand how our services are used. This review activity is conducted by our operations team to continually improve our platform’s performance and to resolve issues with the user experience. 
We continuously monitor our systems’ activity information and communications with users to look for and quickly fix problems.

To communicate with you

We use personal information collected, like an email address to interact with users directly when providing customer support on a ticket or to keep you informed on log ins, transactions, and security. Without processing your personal information for confirming each communication, we will not be able to respond to your submitted requests, questions and inquiries. All direct communications are kept confidential and reviewed internally for accuracy.

To enforce our Terms of Use and other agreements

It is very important for us and our customers that we continually review, investigate and prevent any potentially prohibited or illegal activities that violate our Terms of Service. For the benefit of our entire user base, we carefully enforce our agreements with third parties and actively investigate violations of our posted Terms of Use. BitFarm reserves the right to terminate the provision of service to any user found engaging in activities that violate our Terms of Use.

HOW DOES BitFarm PROTECT USER DATA

BitFarm has implemented a number of security measures to ensure that your information is not lost, abused, or altered. Our data security measures include, but are not limited to: PCI Scanning, Secured Sockets Layered encryption technology, pseudonymization, internal data access restrictions, and strict physical access controls to buildings & files. Please note that it is impossible to guarantee 100% secure transmission of data over the Internet nor method of electronic storage. As such, we request that you understand the responsibility to independently take safety precautions to protect your own personal information.

If you suspect that your personal information has been compromised, especially account and/or password information, please lock your account and contact BitFarm customer service immediately.

CONTACT US

We are committed to respecting the freedoms and rights of all our BitFarm users who have placed their trust in our service. If you should have any questions or concerns regarding this Privacy Policy, or if you would like to file a Data Protection request, please refer to our FAQ and contact us on our Support Page.