Terms of Service
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TERMS OF SERVICE
- The Services. 9992987 Canada Inc. o/a Localcoin (“Localcoin”) allows users to purchase and/or sell virtual currencies such as bitcoin through digital automated teller machine kiosks (an “ATM”) and via its website at www.localcoinatm.com (the “Website”). The purchase and/or sale of virtual currency through either an ATM or the Website are each a “Service”.
- Transactions. When you use a Localcoin Service, you understand that you are instructing Localcoin to purchase or sell digital currency (as the case may be) in exchange for fiat currency (i.e. “cash money”) and to transfer that digital currency to or from a digital wallet address that you input into the ATM or the Website. You understand and agree that you are responsible to conduct your own due diligence regarding any transaction, including identification and verification of the intended recipient, and that any failure to verify the recipient is your sole and exclusive responsibility, and is not the responsibility of Localcoin.
- User Acknowledgement. By using a Localcoin Service (a “User”), you agree and acknowledge that:
- The purchase and sale of any digital currency is a high-risk activity. Digital currencies are subject to unpredictable price fluctuations and the purchase or sale of digital currencies may result in partial or complete loss of funds. As a condition of using our Services, 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 fiat or digital, incurred as a result of using our Services. If you do not agree, do not use Localcoin’s Services;
- Bitcoin and other digital currencies are not currently considered legal currency, assets or property at law;
- Localcoin is not a bank, credit union, trust, or any other kind of financial institution. It is not a deposit taking institution and does not accept deposits from Users, we merely provide a platform through which Users can purchase digital currencies;
- Localcoin does not provide securities, investment contracts, or any other document or financial instrument considered at law to be a "security", and the Services we provide do not constitute trading, purchase, sale or exchange in securities, investment contracts or any other document or financial instrument considered to be a "security" at law;
- No government agencies or quasi-governmental agencies demand payment by digital currency. Localcoin further prohibits you from knowingly or unknowingly acting on behalf of, or on the instructions of, a third party. You are solely responsible to verify the recipient of any digital currency or fiat currency that you instruct Localcoin to deliver while using a Service. With respect to ATM transactions, you are aware of and have read any warning(s) affixed to or displayed on the ATM and, having read those warnings, completed a transaction at your own discretion, and not on the instructions of a known or unknown third party.
- Eligibility. In order to use the Services you must be at least eighteen (18) years old, and a Canadian citizen or permanent resident, and residing in Canada at the time you are making purchases. You do not require an account in order to use the Services, however, in order to make purchases on the Website, you will be required to submit a mobile/digital wallet where we can send your bitcoin and a valid Canadian cell phone number registered with a major Canadian carrier in order to authenticate the transaction. You will be required to submit to identity verification in accordance with ‘know your client’ (KYC) requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations at specific transaction thresholds.
- Updates to User Profile. Localcoin reserves the right to request proof of identification and/or other evidence before updating a User’s profile information.
- Payments. Localcoin reserves the right to choose to accept or refuse any method of payment, at any time, at its sole discretion. In cases where Localcoin accepts payments via any third-party payment processing service (a “PPS”), the User agrees that the use of a PPS is subject to the terms and conditions as agreed to solely between the User and that PPS. Localcoin is not a party to any terms of service between the User and PPS. Localcoin is not responsible or liable in any way for any losses, claims, damages, costs, expenses, injuries to person or property, or any other claim arising in connection with the User’s relationship with a PPS, including their use of your personal information. In cases where a PPS may, in certain circumstances charge a foreign exchange fee, such fee is the User’s responsibility to pay.
- Transactions Limits. By using the Services, you agree that Localcoin may impose limits on the number of transactions and amount of each transaction, in its sole discretion.
- Money Services Business (“MSB”). Localcoin is a registered MSB subject to regulation under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act and as such has compliance obligations including client identification, record keeping and reporting. Localcoin reserves the right to require that you provide identifying information, including KYC information, details regarding source of funds or supporting documentation in connection with your use of the Services. Sharing your user access credentials is expressly prohibited and will result in immediate cancellation of your access. Localcoin reserves the right in its sole discretion to refuse a transaction, cancel your access to the Services and prohibit you from using our Services indefinitely. Localcoin may do so without providing any reason or explanation.
- Authentication. You agree that in order to access the Services, you may be required to provide identifying information which may include, but not be limited to your name, address, date of birth, driver’s license, or other government-issued picture ID (“Personal Information”). You further authorize Localcoin directly, or through third parties to make any inquiry Localcoin deems necessary to verify and validate your identity. For use of the Services on the Website, you may also be required to submit your email address, mobile wallet address, and your cellular phone number. Users may be required to undergo a verification process to verify identity and determine your eligibility to use the Services before a transaction can be completed. Your use of the Services may be delayed during the verification process, and you agree that Localcoin has no responsibility for any loss, delay or other potential or actual harm relating to completion of that process. In the event you are required to provide identifying information or other information and fail to do so, you may be denied access to the Services. Localcoin reserves the right to refuse to process any transaction at any time, if in our sole discretion, if we believe you are or may use the Services for any criminal or illegal activities. In the event that a User fails the initial verification process, Localcoin reserves the right to request identifying information in order to authenticate a User.
- Bitcoin exchange rate. When you make a purchase of digital currency, we will convert your fiat currency into digital currency and deposit your purchased digital currency into your mobile wallet. Localcoin does not set the exchange rate or purchase price for the digital currencies that can be purchased using the Services. Localcoin uses third-party providers to determine the exchange rate of digital currency at the time of each transaction. Rates are determined by many factors, including but not limited to market demand, and Users acknowledge that prices for digital currencies fluctuate on a daily basis. Localcoin does not guarantee any rate or purchase price at any time.
- Service Fees. In consideration for providing the Services, Localcoin charges a Service fee. The amount of the service fee we apply varies depending on a number of factors.
- No Refunds. You understand and agree that all transactions with Localcoin and/or for the use of any Service is final, and non-refundable. In a case where a User has a dispute with the recipient of digital currency, that dispute is between the User and the third-party recipient. You agree that Localcoin has no liability in respect of your transfer of currency to a third party, and that you are solely responsible to pursue recovery of any disputed funds from the third party.
- Promotions. From time to time, Localcoin may offer promotions or discounts in connection with the Services. These promotions are offered at our sole discretion, and we may initiate or terminate a promotion at any time for any reason without notice.
- Content. All information, data, text, software, messages or other materials, whether publicly posted or privately transmitted to the Website by Users ("User Content"), is the sole responsibility of such Users. This means that the User, and not Localcoin, are solely and entirely responsible for all such material uploaded, posted, emailed, transmitted or otherwise made available by using the Service. Localcoin does not control or actively monitor User Content and, as such, does not guarantee the accuracy, integrity or quality of such content. Under no circumstances will Localcoin be liable in any way for any materials, including, but not limited to, any errors or omissions in any materials or any defects or errors in any printing or manufacturing, or for any loss or damage of any kind incurred as a result of the viewing or use of any materials posted, emailed, transmitted or otherwise made available via the Service.
In using the Website and/or Service, You shall not:
- Use the Website and/or Services in violation of the terms of this Agreement, including in violation of the eligibility requirements;
- Use the Website and/or Services for any illegal, criminal and/or fraudulent purpose;
- copy any content unless expressly permitted to do so herein;
- upload, post, email, transmit or otherwise make available any material that:
- is unlawful, harmful, threatening, abusive, harassing, tortuous, defamatory, vulgar, obscene, pornographic, libelous, invasive of another's privacy, hateful, or racially or ethnically objectionable, encourages criminal behavior, gives rise to civil liability, violates any law, or is otherwise objectionable;
- You do not have a right to make available under any law or under a contractual relationship;
- infringes any patent, trademark, trade secret, copyright or other proprietary rights of any party (including privacy rights);
- is or contains unsolicited or unauthorized advertising, solicitations for business, promotional materials, "junk mail," "spam," "chain letters," "pyramid schemes," or any other form of solicitation;
- contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer software or hardware or telecommunications equipment or data or the Website or that of any users or viewers of the Website or that compromises a user's privacy; or
- contains any falsehoods or misrepresentations or create an impression that You know is incorrect, misleading, or deceptive, or any material that could damage or harm minors in any way;
- impersonate any person or entity or misrepresent their affiliation with a person or entity, including but not limited to Localcoin personnel;
- interfere with or disrupt the Website or servers or networks connected to the Website, or disobey any requirements, procedures, policies or regulations of networks connected to the Website or probe, scan, or test the vulnerability of any system or network or breach or circumvent any security or authentication measures;
- interfere with, damage, harm, obstruct, deface, modify, disassemble, disconnect or otherwise deal with an ATM in any manner whatsoever other than for the purpose of conducting a transaction;
- intentionally or unintentionally violate any applicable local, state, national or international law or regulation;
- collect or store personal data about other users or viewers;
- license, sell, rent, lease, transfer, assign, distribute, host, or otherwise commercially exploit the Website;
- modify, translate, make derivative works of, disassemble, decompile, reverse compile or reverse engineer any software provided as part of the Website, except to the extent the foregoing restrictions are expressly prohibited by applicable law; or
- register for the Service on behalf of a group or corporate entity.
- License of Content. By submitting, posting or displaying User Content on or through the Service, you grant us (and our agents) a non-exclusive, royalty-free license (with the right to sublicense) to use, copy, modify, transmit, display and distribute such User Content. Localcoin will not be responsible or liable for any use of User Content in accordance with these Terms. You represent and warrant that you have all the rights, power and authority necessary to grant the rights granted herein to any User Content that you submit.
- End User License. Except for User Content, the Website, and the information and materials that it contains, are the property of Localcoin and its licensors, and are protected from unauthorized copying and dissemination by copyright law, trademark law, and other intellectual property laws. Subject to the terms of this Agreement, Localcoin grants you a non-transferable, non-exclusive, license to: (a) use the Website for your personal use (the "License"). Nothing in the Terms gives you a right to use the Localcoin or LocalCoinATM.com names, trademarks, logos, domain names, and other distinctive brand features without our prior written consent. Any future release, update, or other addition to functionality of the Website shall be subject to the terms of these Terms.
- Feedback. If You provide Localcoin with any suggestions, comments or other feedback relating to any aspect of the Website and/or Service ("Feedback"), Localcoin may use such Feedback in the Website or in any other Localcoin products or services (collectively, "Localcoin Offerings''). Accordingly, You agree that: (a) Localcoin is not subject to any confidentiality obligations in respect to the Feedback; (b) the Feedback is not confidential or proprietary information of You or any third party and You have all of the necessary rights to disclose the Feedback to Localcoin; (c) Localcoin (including all of its successors and assigns and any successors and assigns of any of the Localcoin Offerings) may freely use, reproduce, publicize, license, distribute, and otherwise commercialize Feedback in any Localcoin Offerings, and (d) You are not entitled to receive any compensation or reimbursement of any kind from Localcoin or any of the other users of the Website in respect of the Feedback.
- Links & Third-Party Websites. The Website may contain links to other websites that are not owned or controlled by Localcoin. In no event shall any reference to any third party, third party product or service be construed as an approval or endorsement by Localcoin of that third party, third party product or service. Localcoin is also not responsible for the content of any linked websites. Any third-party websites or services accessed from the Website are subject to the terms and conditions of those websites and or services and You are responsible for determining those terms and conditions and complying with them. The presence on the Website of a link to any other website(s) does not imply that Localcoin endorses or accepts any responsibility for the content or use of such websites, and You hereby release Localcoin from all liability and/damages that may arise from Your use of such websites or receipt of services from any such websites.
- DISCLAIMER OF REPRESENTATIONS, WARRANTIES AND CONDITIONS. THE WEBSITE, SERVICE AND ALL MATERIALS PROVIDED THEREIN ARE PROVIDED "AS IS." LOCALCOIN SPECIFICALLY DISCLAIMS ALL REPRESENTATIONS, WARRANTIES AND CONDITIONS, EITHER EXPRESS, IMPLIED, STATUTORY, BY USAGE OF TRADE, COURSE OF DEALING OR OTHERWISE INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT, TITLE, SATISFACTORY QUALITY OR FITNESS FOR A PARTICULAR PURPOSE. ANY INFORMATION OR MATERIAL DOWNLOADED OR OTHERWISE OBTAINED THROUGH THE USE OF THE SERVICE IS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM, LOSS OF DATA, OR ANY OTHER LOSS THAT RESULTS FROM DOWNLOADING OR USING ANY SUCH MATERIAL.
LOCALCOIN MAKES NO WARRANTIES ABOUT THE PRICE OR AVAILABILITY OF ANY DIGITAL CURRENCY.
LOCALCOIN DOES NOT WARRANT, ENDORSE, GUARANTEE, PROVIDE ANY CONDITIONS OR REPRESENTATIONS, OR ASSUME ANY RESPONSIBILITY FOR ANY PRODUCT OR SERVICE ADVERTISED OR OFFERED BY ANY THIRD PARTY THROUGH THE WEBSITE OR IN RESPECT TO ANY WEBSITE THAT CAN BE REACHED FROM A LINK ON THE WEBSITE OR FEATURED IN ANY BANNER OR OTHER ADVERTISING ON THE WEBSITE, AND LOCALCOIN SHALL NOT BE A PARTY TO ANY TRANSACTION THAT YOU MAY ENTER INTO WITH ANY SUCH THIRD PARTY. LOCALCOIN WILL NOT BE LIABLE FOR ANY TYPE OF CONTENT EXCHANGED BY MEANS OF THE SERVICE.
NO DATA, INFORMATION OR ADVICE OBTAINED BY YOU IN ORAL OR WRITTEN FORM FROM US OR THROUGH OR FROM OUR SERVICE WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED IN THESE TERMS. ANY INFORMATION AVAILABLE ON THE WEBSITE OR APPS OR THROUGH THESE SERVICES IS FOR INFORMATIONAL PURPOSES ONLY. NOTHING ON OUR WEBSITE, APPS OR SERVICE CONSTITUTES, OR IS MEANT TO CONSTITUTE, ANY KIND OF ADVICE, INCLUDING, BUT NOT LIMITED TO LEGAL, INVESTMENT, TAX, ACCOUNTING OR FINANCIAL ADVICE.
- LIMITATION OF LIABILITY. TRADING, STORING, DEALING, PURCHASING, SELLING AND OTHERWISE USING DIGITAL CURRENCIES COMES WITH SUBSTANTIAL AND INHERENT RISKS. IN REGISTERING FOR AN ACCOUNT AND USING OUR SERVICES YOU AGREE THAT LOCALCOIN IS NOT RESPONSIBLE OR LIABLE TO YOU IN ANY WAY FOR CHANGES TO THE SERVICES OR AVAILABILITY OF DIGITAL CURRENCY, INCLUDING BUT NOT LIMITED TO, REGULATORY INTERVENTION BY A THIRD PARTY IN THE OPERATION OF THE WEBSITE AND SERVICE, OR THE UNDERLYING VALUE OF ANY VIRTUAL CURRENCY.
UNDER NO CIRCUMSTANCES SHALL LOCALCOIN, ITS SUBSIDIARIES, DIRECTORS, AFFILIATES, OFFICERS, MEMBERS, EMPLOYEES, OR AGENTS (“LOCALCOIN PARTIES”) BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR OTHER DAMAGES WHATSOEVER, INCLUDING, WITHOUT LIMITATION, ANY DAMAGES THAT RESULT FROM: (I) YOUR USE OF OR YOUR INABILITY TO USE THE WEBSITE, LOCALCOIN APP, ANY ATM OR THE SERVICE; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS, DATA, INFORMATION OR SERVICES; (III) ERRORS, MISTAKES, OR INACCURACIES IN THE MATERIALS ON THE WEBSITE OR AT AN ATM; (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY KIND WHATSOEVER ARISING FROM OR RELATING TO YOUR USE OF THE SERVICE; (V) ANY BUGS, VIRUSES, TROJAN HORSES, OR ANY OTHER FILES OR DATA THAT MAY BE HARMFUL TO COMPUTER OR COMMUNICATION EQUIPMENT OR DATA THAT MAY HAVE BEEN TRANSMITTED TO OR THROUGH THE WEBSITE OR LOCALCOIN APP; (VI) ANY ERRORS OR OMISSIONS IN ANY MATERIAL ON THE WEBSITE OR ANY OTHER LOSS OR DAMAGE OF ANY KIND ARISING FROM OR RELATING TO YOUR USE OF THE WEBSITE OR SERVICE; (VII) LOST FUNDS, LOST PROFITS, LOSS OF USE, LOSS OF DATA, FINES, FEES, PENALTIES. THESE LIMITATIONS SHALL APPLY EVEN IF LOCALCOIN HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
IN NO EVENT SHALL LOCALCOIN'S TOTAL LIABILITY, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY, OR OTHER CAUSE OF ACTION, ARISING OUT OF OR RELATING TO THE USE OF OR INABILITY TO USE THE SERVICES, WEBSITE, LOCALCOIN APP OR OTHERWISE DO BUSINESS WITH LOCALCOIN OR DO ANY ACT IN ACCORDANCE WITH THESE TERMS OF SERVICE, EXCEED THE GREATER OF: (A) THE FEE ACTUALLY PAID BY YOU TO LOCALCOIN (IF ANY) IN RESPECT OF THE IMPUGNED TRANSACTION; OR (B) THE TOTAL AMOUNT YOU HAVE PAID IN SERVICE FEES TO LOCALCOIN IN THE 6 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY. THE LOCALCOIN PARTIES SHALL HAVE NO LIABILITY TO YOU ARISING OUT OF OR RELATING TO ANY DATA BREACH AFFECTING THE LOCALCOIN SERVICE, WEBSITE, ATMs, OR SYSTEMS IF LOCALCOIN HAD IN PLACE COMMERCIALLY REASONABLE AND STANDARD SECURITY PROCEDURES AT THE TIME OF SUCH BREACH.
- Availability & Updates. Localcoin may alter, suspend, or discontinue the Service or Website at any time and for any reason or no reason, without notice. The Website or Service may be unavailable from time to time due to maintenance or malfunction of computer or network equipment or other reasons. Localcoin may periodically add or update the information and materials regarding the Service or the Website without notice.
- Security. Information sent or received over the Internet is generally unsecure and Localcoin cannot and does not make any representation or warranty concerning security of any communication to or from its ATM or the Website or any representation or warranty regarding the interception by third parties of personal or other information. You are responsible for safeguarding the password that you use to access the Service and you are responsible for any activities or actions under your password. You agree to keep your password secure. Localcoin will not be liable for any loss or damage arising from your failure to comply with these requirements.