Terms of Service

These Terms of Service apply to you when you access or use our Services and Website (available at localcoinatm.co.nz).  By accessing or using our Services and Website, you agree to these Terms of Service. If you do not agree to these Terms of Service, you must cease using our Services immediately.  

In order to use the Services, you will be required to submit certain information for authentication purposes. All personal information that you provide to us will be treated in accordance with our Privacy Policy, the terms of which are incorporated by reference into these Terms of Service. .

In these Terms of Service, “Localcoin”, “we”, “us”, or “our” means Damasca Pty Ltd, and any references to “User”, “you” or “your” means you, the person or entity accessing or using our Services. 

  1. The Services. Localcoin allows users to purchase digital currencies such as bitcoin through digital automated teller machine kiosks (an “ATM”). The ATM enables users who sign up to purchase digital currencies made available by us from time to time  (“Services”).
  2. Transactions. When you use the Services, you understand that you are instructing Localcoin to purchase digital currency in exchange for legal tender (i.e. “cash money”) and for Localcoin to transfer that digital currency to the digital wallet address that you input into the ATM. You understand and agree that you are responsible to conduct your own due diligence regarding any transaction, including identification and verification of the  digital wallet address, and that any failure to check the digital wallet address is your sole responsibility.  
  3. User Acknowledgement. By using our Services, you agree and acknowledge that:
  4. You only use the Services to purchase digital currencies on your own behalf, and not on behalf of anyone else;
  5. The purchase of digital currency is a high-risk activity. Digital currencies are subject to unpredictable price fluctuations and the purchase or subsequent sale of digital currencies may result in partial or complete loss of funds. As a condition of using our Services, and to the maximum extent permitted by law, you agree to assume all risk associated with the purchase, sale, trade or exchange of digital currencies and further agree that you will not hold Localcoin liable for the loss of any funds, either legal tender or digital, incurred as a result of using our Services. If you do not agree you should not use Localcoin’s Services;
  6. Bitcoin and other digital currencies offered via our Services are not currently considered legal tender in New Zealand, but they can, if certain requirements are met, be recognised as personal property at law;
  7. Localcoin is not licensed by a New Zealand regulator to provide the Services.  Localcoin’s registration on the New Zealand register of financial service providers does not mean that Localcoin is subject to active regulation or oversight by a New Zealand regulator;
  8. Localcoin is not a bank, or a deposit taker and does not accept deposits from Users, we merely provide a platform through which Users can purchase digital currencies;
  9. Localcoin does not provide securities, investment contracts, or any other document or financial instrument considered at law to be a "security". The Services we provide do not constitute issue, trading, purchase, sale or exchange in securities, investment contracts or any other document or financial instrument considered to be a "security" under any law (including under relevant New Zealand laws); 
  10. Scam warning: No government agencies or quasi-governmental agencies demand payment by digital currency. Localcoin further prohibits you from acting on behalf of, or on the instructions of, a third party. You are solely responsible to confirm and verify the digital wallet address you instruct Localcoin to deliver while using the Services. With respect to ATM transactions, you acknowledge that you are aware of and have read any warning(s) affixed to or displayed on the ATM and, having read those warnings, will complete any transaction at your own discretion, and not on the instructions of a known or unknown third party.  
  11. Eligibility. In order to use the Services you must be at least eighteen (18) years old, a New Zealand citizen or permanent resident, and residing in New Zealand at the time you are making purchases. You do not require an account to use the Service, however, you will be required to submit a mobile/digital wallet address where we can send your digital currency and a valid New Zealand mobile phone number registered with a major New Zealand telecommunications network provider in order to authenticate the transaction. 
  12. Information: You will be required to provide us with relevant information and documents to our satisfaction, enabling us to:
  13. authenticate your identity; and 
  14. also as we determine is appropriate to comply with our obligations under anti-money laundering and counter-terrorism financing law (“AML/CFT”), tax law and sanction law in New Zealand and other jurisdictions.