As used herein, “Pocketbits or Company” refers to the holding company of Pocketbits being Defacto Technologies Pvt Ltd (‘Company’), a private limited company incorporated under the laws of India and having its registered office at PLOT NO. 65, SNO 807/1/3/20, DEEPALI NAGAR,, AGRA ROAD, Nashik, Maharashtra, India, 422009 its owners, directors, investors, employees or other related parties.
The Services operated by Company in the name of Pocketbits allows buyers (“Buyers”) and sellers (“Sellers”), to buy and sell Bitcoins (for more information on Bitcoins, please refer to http://www.bitcoin.org).
Pocketbits also allows all registered users of the Services (“Members”) to:
It is your responsibility to determine, collect, report and submit any taxes applicable to the payments you make or receive in connection with the use of Pocketbits App and Website to the appropriate tax authority. Pocketbits is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction.
Pocketbits adopts the following Know Your Customer and Anti-Money Laundering Policy (hereinafter referred to as “KYC and AML Policy”) to ensure that Pocketbits App and Website and any future platforms that we might support, are not used to facilitate money laundering or the funding of terrorism or any other criminal activities.
This policy is applicable on all the present as well as prospective Members who uses or wishes to use Pocketbits App and Website through proper registration. It lays down the procedure that we follow to collect information and maintaining a record of our Members. It is the duty of Member to comply with this KYC and AML Policy in order to ensure that it does not abuse the relationship with Pocketbits for any illegal purposes, including money laundering or other financial crimes. Any action, including those that might not have been foreseen and included in this policy, that has the effect of the abuse as contemplated above shall be restricted under this policy.
Pocketbits reserves the right to decline business proposal, at its discretion, with present as well as prospective Members at all times. It is the discretion of Pocketbits to suspend or terminate any action in favor of the Member until a reasonable and satisfactory explanation with supporting documents is provided, on suspicion of the Member abusing the relationship as contemplated above.
Pocketbits collects the following basic information from its customers for its records:
Pocketbits appoints a competent and qualified employee as an AML and KYC Policy Compliance Person who reviews and updates the KYC and AML Policy to ensure the compliance with all relevant and applicable legislation, regulations and recommendations and monitor compliance of KYC and AML Policy. Pocketbits employees would be trained to identify and take action on suspicious transactions through Pocketbits App and Website and make regular internal reports on such suspicious transactions. Pocketbits would regularly inspect the transactions done through its Services and would report them to relevant supervisory and/or law enforcement authorities. Pocketbits reserves the right to determine suspicious and unusual transactions that result into abuse of relationship with Pocketbits.
Pocketbits reserves the right to change, amend, alter or delete some or all parts of this KYC and AML Policy, include new procedure and exclude existing procedures in this KYC and AML Policy. It is the duty of the Member to keep updated and comply at all times with the KYC and AML Policy as and when updated on the Website.
The use of Pocketbits App and Website may entail the following risks:
You should carefully assess whether your financial situation and tolerance for risk is suitable for buying, selling or trading Bitcoins.
We use our banking service providers only for the receipt of client money and making payments. Our banking service providers do not transfer Bitcoins, exchange Bitcoins, or provide any services in connection with Bitcoins.
Unless otherwise specified, all materials on Pocketbits App and Website are the property of Pocketbits and are protected under copyright, trademark and other applicable laws. You may view, print, and/or download a copy of such Materials on any single computer solely for your personal, informational, non-commercial use, provided you keep intact all copyright and other proprietary notices.
The trademarks, service marks and logos of Pocketbits and others used in Pocketbits and Services (“Trademarks”) are the property of Pocketbits and their respective owners. The software, text, images, graphics, data, prices, trades, charts, graphs, video, and audio used on this Website belong to Company. The trademarks and materials should not be copied, reproduced, modified, republished, uploaded, transmitted, collected or distributed in any form or by any means, whether manual or automated. Any unauthorized use of such property may violate copyright, trademark, and other applicable laws and could result in criminal or civil legal actions and penalties.
We are vigilant in maintaining the security of Pocketbits App and Website and it is for your personal and non-commercial use only. By registering with us, you agree to provide Pocketbits with current, accurate, and complete information about yourself as prompted by the registration process, and to keep such information updated. You further agree to use only your Pocketbits account and not use the account of any other person or assist others in obtaining unauthorized access to any Pocketbits account. You further agree that you shall not use Pocketbits App and Website in connection with any activity violating any law, statute, ordinance or regulation.
It is your responsibility for maintaining the confidentiality of your account information, including your password / PIN, safeguarding your own Bitcoins and for all activity including transactions that are posted to your Account. If there is suspicious activity related to your Account, we may, but are not obligated, to request additional information from you, including authenticating documents, and to freeze any transactions pending our review. You are obligated to comply with these security requests, otherwise, Pocketbits, at its sole discretion, may choose to terminate your Account. You are required to notify Pocketbits immediately of any unauthorized use of your Account or password, or any other breach of security by an email addressed to [email protected] The membership of a Member who violates these rules may be terminated, and further be also held liable for losses incurred by Company or any user of Pocketbits App and Website.
You hereby agree that you shall not use the Website or our Service, in connection with any activity violating any law, statute, ordinance, or regulation. Further, you shall not deposit Bitcoins into your Pocketbits wallet that is obtained through illegal activities and you will also not use the Service to perform an illegal activity of any sort, including but not limited to, money laundering, illegal gambling operations, terrorist financing, or malicious hacking. The Source of Bitcoins paid to your Pocketbits wallet is not known to Pocketbits and you hereby agree to ensure that it always comes from legitimate sources. Pocketbits only acts as information intermediary as far as your Pocketbits wallet is concerned.
For any complaint against Pocketbits App and Website, you may set out the cause of your complaint, the manner in which you would like Pocketbits to resolve the same and any other relevant information for understanding and resolving your complaints expeditiously.
You may terminate this agreement with Pocketbits, and close your Account at any time, following the settlement of any pending transactions.
We also reserve the right to cancel unverified Accounts or Accounts that have been inactive for a period of 6 months or more, and/or to modify or discontinue Pocketbits App and Website. Members agree that Pocketbits will not be liable to them or to any third party for termination of their Account or access to the Website.
You hereby agree that the suspension of an Account shall not affect the payment of the commissions due for past Transactions. Upon termination, Members will receive any monies owed to them via their registered bank account with Pocketbits.
Pocketbits App and Website are provided without warranty of any kind, either express or implied. Pocketbits strives to ensure uninterrupted services to its customers. However, it does not give any guarantee for uninterrupted access or against any delay, failure, errors, omissions or loss of transmitted information.
Pocketbits may suspend use of Pocketbits App and Website for maintenance and will make every effort to give you reasonable notice. You acknowledge that such notice, however, may not be possible in case of an emergency.
Pocketbits App and Website may provide links or other forms of reference to other websites (“External Websites”) or resources over which Pocketbits may not have control. Pocketbits offers to you such links or references to External Websites with the sole purpose of enhancing your experience of using Pocketbits App and Website and Pocketbits makes no representations whatsoever about any External Websites which you may access through Pocketbits. Pocketbits cannot be held responsible for the availability of, and content provided on any External Websites. Pocketbits cannot be held responsible for any third party content accessible through the Website, including opinions, advice, statements, prices, activities, and advertisements, and you shall bear all risks associated with the use of such content.
Users of Pocketbits are responsible for their actions in connection with the use of Pocketbits App and Website and their Accounts. Users are also responsible for protecting access information to Pocketbits including, but not limited to, usernames, passwords / PIN, and bank account details. Pocketbits is not responsible for the outcome, whether positive or negative, of any action performed by any of its users within or related to Pocketbits App and Website. Some deposits and withdrawal methods require Pocketbits to use personal details of the user including, but not limited to, name, address, email, phone number, and bank account number, IFSC code, etc. and you agree that Pocketbits can use this information to facilitate deposits and withdrawals.
Pocketbits App and Website is provided on an “as-is”and “as available” and your use of the Services is at your own risk. It is hereby expressly declared that Pocketbits offers no warranty of any kind regarding Pocketbits App and Website.
It is hereby expressly declared that neither Pocketbits nor you will be liable for any delay or failure caused by conditions or events beyond the reasonable control of the respective party, including but not limited to any delay or failure due to any act of God, fire, act of terrorists, act of civil or military authorities, civil disturbance, war, strike or other labor dispute, interruption in telecommunications or Internet services or network provider services, failure of equipment and/or software, other catastrophe or any other occurrence which is beyond reasonable control of the respective party and the validity and enforceability of any remaining provisions shall not be affected by any such condition.