Terms of Service

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 HEREBY INCORPORATED BY REFERENCE INTO THESE TERMS OF USE. IF YOU DO NOT AGREE WITH THE TERMS OF OUR PRIVACY POLICY, DO NOT USE THE WEBSITE OR SERVICES.

1. 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”, and are collectively referred to as the “Services”.

2. Transactions

When you use a Localcoin Service, you understand that you are instructing Localcoin to buy 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 the digital wallet address you provide through the ATM or the Website. You understand and agree that you are solely responsible for conducting your own due diligence in connection with any transaction, including verifying the identity of the intended recipient. Any failure to verify the recipient is your sole and exclusive responsibility, and Localcoin bears no responsibility for such errors.

3. User Acknowledgement

By using a Localcoin Service (a “User”), you agree and acknowledge that: 

1. 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, whether fiat or digital, incurred as a result of using our Services. If you do not agree, do not use Localcoin’s Services;
2. Bitcoin and other digital currencies are not currently considered legal currency, assets or property at law;
3. 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;
4. Localcoin does not offer securities, investment contracts, or any other financial instruments considered a "security" under applicable law, and the Services we provide do not constitute trading, purchase, sale or exchange of any such “securities”;
5. No government agencies or quasi-governmental agencies demand payment by digital currency. Localcoin does not permit you to act, whether knowingly or unknowingly, on behalf of or at the direction of any third party. You are solely responsible for verifying the recipient of any digital or fiat currency that you instruct Localcoin to deliver while using a Service. With respect to ATM transactions, you acknowledge that you have read and understood any warnings affixed to or displayed on the ATM and that you completed the transaction at your own discretion, and not at the direction of any known or unknown third party.
6. Subject to brief delays that may occur on the blockchain, when you purchase digital currency from Localcoin, Localcoin immediately transfers ownership, possession and control of the digital currency. Once transferred, you are free to use or otherwise deal with the digital currency without any further involvement with, or reliance on, Localcoin or its affiliates, and we do not retain any security interest or any other legal right to the digital currency sold to you.
7. Stablecoins such as USDT and USDC are intended to be purchased for use in payments (as a store of value or medium of exchange), and not for investment purposes. No interest or other returns earned on the reserve assets that support the price of the stablecoin are passed through to stablecoin holders.

4. Eligibility

To use the Services, you must be at least eighteen (18) years old, a Canadian citizen or permanent resident, and residing in Canada at the time of purchase. You do not require an account to use the Services; however, to make purchases through the Website, you must provide a mobile/digital wallet to receive digital currency together with a valid Canadian mobile phone number for transaction authentication. To comply with Know Your Client (KYC) requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Regulations, identity verification will be required at certain transaction thresholds.

5. Updates to User Profile

Localcoin reserves the right to request proof of identification and/or other evidence before updating a User’s profile information.

6. 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.

7. 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.

8. 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/or prohibit you from using our Services indefinitely. Localcoin may do so without providing any reason or explanation.

9. Authentication

You agree that, to access the Services, you may be required to provide identifying information which may include, but shall not be limited to, your name, address, date of birth, driver’s license, or other government-issued photo 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 mobile 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 may, in its sole discretion, refuse to process any transaction at any time where it believes the Services are being, or may be, used for any criminal or illegal activities. In the event a User fails the initial verification process, Localcoin reserves the right to request identifying information in order to authenticate a User. 

10. Digital currency exchange rate

When you make a purchase of digital currency, Localcoin 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.

11. Service Fees

In consideration for providing the Services, Localcoin charges a service fee. The applicable service fee may vary depending on a number of factors.

12. No Refunds

You understand and agree that all transactions with Localcoin, and/or for the use of any Services provided by Localcoin, are 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 further understand and 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.

13. Promotions

From time to time, Localcoin may offer promotions or discounts in connection with the Services. Any promotions are offered at our sole discretion, and we reserve the right to initiate, modify or terminate a promotion at any time, for any reason, without prior notice.

14. Content

All information, data, text, software, messages or other materials posted, uploaded, transmitted, or otherwise made available through the Website or Services by  a User(s) ("User Content"), is the sole responsibility of such User. Localcoin does not control or actively monitor User Content and does not guarantee its accuracy, integrity or quality. To the fullest extent permitted by law, Localcoin is not liable in any way for any User Content or for any errors or omissions therein, or for any loss or damage of any kind arising from your access to, viewing of, or reliance on User Content made available via the Services.

15. Restrictions on User Content and Use of the Service

Localcoin reserves the right, at any time and in its sole discretion (but has no obligation), to remove or limit access to User Content, suspend or terminate user accounts, or reclaim usernames. Localcoin also reserves the right to access, review, store, and disclose information where it reasonably believes such action is necessary to: (i) comply with applicable laws, regulations, legal processes or governmental requests; (ii) enforce these Terms of Use, including investigating potential violations; (iii) detect, prevent, or address fraud, security or technical issues; (iv) respond to user support requests; or (v) protect the rights, property or safety of Localcoin, Users, and/or the public.

In using the Website and/or Services, you agree that you shall not:

Localcoin reserves the right, in its sole discretion, to restrict, suspend, or terminate your account and/or access to the Services if it determines, or has a good-faith belief, that you have violated these Terms of Use, including this Section 15.

16. License of Content

By submitting, posting or displaying User Content through the Services, you grant Localcoin and its agents a non-exclusive, royalty-free license, with the right to sublicense,  use, copy, modify, transmit, display and distribute such User Content in connection with the Services. Localcoin is not responsible or liable for any use of User Content in accordance with these Terms of Use. You represent and warrant that you have all the necessary rights, power and authority to grant this license for any User Content you submit.

17. End User License

Except for User Content, the Website, and all information and materials contained therein, are the property of Localcoin and its licensors, and are protected by copyright, trademark, and other intellectual property laws. Subject to these Terms of Use, Localcoin grants you a limited, non-transferable, non-exclusive license to access and use the Website for your personal, non-commercial use. Nothing in these Terms of Use grants you any right to use the Localcoin or LocalCoinATM.com names, trademarks, logos, domain names, or other distinctive brand features without Localcoin’s prior written consent. Any future release, update, or other addition to functionality of the Website shall be subject to these Terms of Use.

18. Feedback

If you provide Localcoin with any suggestions, comments or other feedback about the Website or Services ("Feedback"), Localcoin may use such Feedback in the Website or in any of its Services or products, including ATMs and apps (collectively, "Localcoin Offerings''). By providing Feedback, you agree that: (a) Localcoin is not subject to any confidentiality obligations with respect to the Feedback; (b) you have the right to provide the Feedback to Localcoin; (c) the Feedback does not infringe or misappropriate the rights of any third party; (d) Localcoin, its affiliates, and their respective successors and assigns may freely use, reproduce, modify, publish, license, distribute, and otherwise commercialize the Feedback for any purpose in any Localcoin Offerings; and (e) you are not entitled to any compensation or reimbursement of any kind in connection with the Feedback.

19. Links & Third-Party Websites

The Website may contain links to third-party websites or services that are not owned or controlled by Localcoin. Any reference to a third party or its products or services does not constitute an endorsement or approval by Localcoin. Localcoin is not responsible for the content, availability, or practices of any linked third-party websites or services. Any third-party websites or services you may access from the Website are governed by their own terms and conditions, and you are responsible for reviewing and complying with those terms. By accessing any third-party website or services through the Website, you acknowledge and agree that Localcoin has no liability for any loss or damage arising from your use of, or reliance on, such third-party websites or services.

20. Disclaimer of Representations, Warranties and Conditions

The Website, Services and all related materials are provided on an "as is" and “as available” basis. To the fullest extent permitted by law, Localcoin disclaims all representations, warranties and conditions of any kind, whether express, implied, statutory or otherwise, including those arising from usage of trade or course of dealing, and including, without limitation, any implied warranties or conditions of merchantability, satisfactory quality, fitness for a particular purpose, title, or non-infringement. Any information or material you download or otherwise obtain through the Services are accessed at your own discretion and risk. You are solely responsible for any damage to your device, loss of data, or any other losses that may result from downloading or using such materials.

Localcoin makes no warranties about the price or availability of any digital currency.

Localcoin does not warrant, endorse, guarantee, or make any conditions or representations regarding any products or services advertised or offered by third parties through the Website, or through any third-party websites linked to or featured on the Website, including in banners or other advertising. Localcoin is not a party to, and has no responsibility for, any transaction you may enter into with such third parties. Localcoin is not liable for any type of content exchanged by means of the Services.

No data or advice, whether oral or written, that you obtain from us or through the Services creates any warranty not expressly stated in these Terms of Use. All information available on the Website or Localcoin Offerings is provided for general informational purposes only and does not constitute, and should not be relied upon as, legal, investment, tax, accounting, financial, or any other professional advice.

21. Limitation of Liability

Trading, storing, dealing, purchasing, selling and otherwise using digital currencies comes with substantial and inherent risks. By creating an account and using our Services, you acknowledge and agree that Localcoin is not responsible or liable to you in any way for any changes to the Services or the availability or value of any digital currency, including changes resulting from regulatory actions or other third-party interventions affecting the Website, Services, or any virtual currency.

To the fullest extent permitted by law, Localcoin, its subsidiaries, directors, affiliates, officers, members, employees, or agents (“Localcoin Parties”), shall not be liable for any damages of any kind arising from or related to the Services. This includes, without limitation, any damages resulting from: (i) your access to, use of, or inability to use the Website or Localcoin Offerings; (ii) the cost of obtaining substitute goods, data, information or services; (iii) errors, mistakes, or inaccuracies in the materials on the Website or at any ATM; (iv) personal injury or property damage arising from or relating to your use of the Services; (v) any bugs, viruses, trojan horses, or other harmful files or data transmitted through the Website or Localcoin Offerings; (vi) any errors or omissions in content, or any other loss or damage relating to your use of the Website or Services; and (vii) lost funds, lost profits, loss of use, loss of data, or fines, fees, or 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 arising in contract, warranty, tort (including negligence, whether active or passive, and including vicarious liability), product liability, strict liability, or otherwise, arising out of or relating to your use of, or inability to use, the Services, Website, Localcoin Offerings, or any transaction or activity conducted in accordance with these Terms of Use, exceed the greater of: (a) the fee actually paid by you to Localcoin, if any, in respect of the transaction giving rise to the claim; or (b) the total amount of service fees paid by you to Localcoin during the six (6) months immediately preceding the date on which the claim arose. The Localcoin Parties shall have no liability to you arising out of or relating to any data breach affecting the Localcoin Services, Website, ATMs, or systems where Localcoin had in place commercially reasonable and standard security procedures at the time of such breach.

22. Indemnification

You shall indemnify and hold harmless Localcoin and Localcoin Parties from all claims, actions, proceedings, demands, damages, losses, costs, and expenses, including reasonable lawyers’ fees, incurred in connection with any materials submitted, posted, transmitted or made available by you through the Services and/or any violation by you of these Terms of Use.

23. Termination

Localcoin may, in its sole discretion and without prior notice, immediately terminate your ability to access the Services, the Website or portions thereof. Cause for such termination may include, without limitation: (a) a breach of these Terms of Use or any other agreement that you may have with Localcoin, including failure to pay any applicable fees; (b) requests from law enforcement or other government authorities; (c) a request by you; (d) discontinuation or material change to the Website or Services, in whole or in part; (e) unexpected technical, security or legal issues; and/or (f) your direct or indirect participation in fraudulent or illegal activities. Termination of your access to the Services and/or Website may also include removal of some or all of the materials uploaded by you to the Website. You acknowledge and agree that all terminations may be made by Localcoin in its sole discretion and that Localcoin shall not be liable to you or any third party for any termination of your access to the Services or the Website, nor for the removal of any of the materials uploaded by you to the Website. Any termination of these Terms of Use by Localcoin shall be in addition to any and all other rights and remedies that Localcoin may have.

24. Availability & Updates

Localcoin may alter, suspend, or discontinue the Services or Website at any time and for any reason or no reason, without prior notice. The Website or Services 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 Services or the Website without prior notice.

25. 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 keeping your password secure and for any activity that occurs under your account. Localcoin will not be liable for any loss or damage arising from your failure to comply with these requirements.

26. General

These Terms of Use constitute the entire agreement between you and Localcoin relating to the Website, the Services and all related activities. These Terms of Use shall not be modified, except in writing and signed by both parties. Localcoin may, in its sole discretion, amend, vary, revise or replace these Terms of Use. You agree that the Terms of Use governing your use of the Services is the version posted to the Localcoin Website at the time any Service is used.

27. Severability

If any part of these Terms of Use is held to be unlawful, void, or unenforceable, that part shall be deemed severed and shall not affect the validity and enforceability of the remaining provisions. The failure of Localcoin to exercise or enforce any right or provision under these Terms of Use shall not constitute a waiver of such right or provision. Any waiver of any right or provision by Localcoin must be in writing and shall only apply to the specific instance identified in such writing. You may not assign the Terms of Use, or any rights or licenses granted hereunder, whether voluntarily, by operation of law, or otherwise without Localcoin’s prior written consent.

28. Jurisdiction and Choice of Law

These Terms of Use, and your use of the Services, are governed by the laws of the Province of Ontario and the laws of Canada applicable therein, without regard to conflict of laws principles.  You agree to attorn to the exclusive jurisdiction of the Courts of the Province of Ontario, in the City of Toronto.

If you have any questions about these Terms and Conditions, or if you wish to make any complaint or claim with respect to the Services, please contact us at: [email protected] or [email protected].