General Terms and Conditions (hereinafter referred to as “SKU“) BITCOIN.CO.ID is a provision that contains terms and conditions regarding usage of products, services, technology, service features provided by BITCOIN.CO.ID including, but not limited to Website use and Indonesian Bitcoin Wallet (hereinafter referred to as the “BITCOIN.CO.ID PLATFORM”) as long as it is not specifically regulated as stated in the registration section of the BITCOIN.CO.ID Account created on the day and date listed in Account registration section https://bitcoin.co.id,an inseparable entity and approval of this SKU. By registering as a Member/Verified Member, You declare it has been READING, UNDERSTANDING, AGREE and OBSERVE Terms and Conditions below. You are advised to read all terms and conditions carefully before using BITCOIN.CO.ID platform services or all services provided, and together with this you agree and commit yourself to all activities in this SKU with the following terms and conditions:
As long as the context of the sentence does not specify otherwise, the terms or definitions in the SKU has the following meanings:
- Website refer to the online site with the address https://bitcoin.co.id. This Website is managed by BITCOIN.CO.ID, not limited to owners, investors, employees and parties associated with BITCOIN.CO.ID. Depending on the context, “Website” can also refer to services, products, sites, contents or other services provided by BITCOIN.CO.ID.
- Crypto Assets are digital commodities that use principles of peer-to-peer (interface) network-based decentralized technology or called Blockchain Network that is traded inside BITCOIN.CO.ID platform.
- Blockchain is open distributed ledger that can record transactions between two parties efficiently and in a way that can be permanently verified.
- Registration is the registration process to become a Member on BITCOIN.CO.ID platform which is the initial verification process to obtain information, a statement in the use of BITCOIN.CO.ID platform service.
- Member are people (individuals), business entities or legal entities that have registered with BITCOIN.CO.ID platform, thus obtaining authorization from BITCOIN.CO.ID platform to conduct Crypto Asset trading activities.
- Verification is process of examining Members regarding Member related information and personal information included in the Registration process to be validated by BITCOIN.CO.ID in order to get the full service of the BITCOIN.CO.ID platform.
- Verified Member are Member who have gone through and completed the Verification stage conducted by BITCOIN.CO.ID.
- Service is a service provided by BITCOIN.CO.ID in facilitating Verified Member to carry out activities to buy and sell Crypto Asset.
- Crypto Asset Trading Activities is the activity of buying and selling Crypto Assets on the basis of achieving the points of agreement of Verified Member in the platform provided by BITCOIN.CO.ID.
- Account Member is access given to Member/Verified Member to obtain information and to conduct Crypto Asset trading activities through BITCOIN.CO.ID platform.
- Password is a collection of characters consisting of alpha-numeric sequences or a combination of both and used by Member/Verified Member to verify their identity to the security system at BITCOIN.CO.ID platform.
- Phone number is the registered Member/Verified Member telephone number so that you get authorization to get service. Changes to telephone numbers can be made by following the rules on the help page available at Website.
- Conversion is the change in the value of a fiat currency into a form or format Crypto Assets based on exchange rate/rate that applies and vice versa.
- Buyer is Verified Member who purchases Crypto Assets through BITCOIN.CO.ID platform. In the transaction mechanism, the buyer can purchase Crypto Assets based on the Rupiah exchange rate/rate.
- Seller is Verified Member who sells Crypto Assets through BITCOIN.CO.ID platform. In the transaction mechanism, the seller can sell Crypto Assets based on the Rupiah exchange rate/rate.
- Deposit is process of depositing Rupiah/Crypto Assets by Member/Verified Member which refers to the process or top up mechanism carried out through the BITCOIN.CO.ID Member/Verified Member
- Withdraw is the withdrawal process Rupiah/Crypto Asset by Verified Member who refers to the process or mechanism of withdrawal conducted through the BITCOIN.CO.ID Verified Member Account.
- Crypto Asset Prices is the exchange rate/rate of Crypto Assets in BITCOIN.CO.ID platform that is volatile, with value according to supply and demand in the market.
- Address of Crypto Assets is Member/Verified Member’s Crypto Asset pocket address, created specifically for Member/Verified Members and can be used multiple times as a Crypto Assets wallet provided on the BITCOIN.CO.ID platform. In its technical factors, the address of Crypto Assets has a role or function to receive and send Crypto Assets.
- Crypto Asset Delivery Limit is the minimum and maximum limit for sending Crypto Assets to the other Crypto Asset pockets per day. It is necessary to explain that each Verified Member Account will have a different shipping limit and be adjusted to these Terms and Conditions with the applicable Laws and Regulations.
- Rupiah Withdrawal Limit is minimum and maximum limit of Rupiah withdrawals per day regarding the limit for Rupiah withdrawal. It is necessary to explain that each Verified Member Account will have a different withdrawal limit that is adjusted to the Terms and Conditions and the applicable Laws and Regulations.
- Bank Account is bank account that has been registered by Member with the obligation to have an account name and Member name.
- Crypto Asset Wallet is a component software and information for storing and using Crypto Assets.
- Voucher is a product issued by BITCOIN.CO.ID platform in the form of proof of ownership of Crypto Assets in the form electronic vouchers for use in Crypto Asset trading activities.
- Rupiah is the currency of the Republic of Indonesia. Currency traded against Crypto Assets on the BITCOIN.CO.ID platform.
- KYC (Know Your Customer) Principles is the process of evaluating prospective Member and Member to know the background and good faith in the actions that will be carried out in a Crypto Asset trading activities.
- AML (Anti Money Laundering) is activity to anticipate and stop money laundering practices.
- GDPR (General Data Protection Regulation) is a form of legal instrument relating to Data Privacy that is applied to all companies in the world that have stored, prepared and processed personal data of European Union residents. This policy has to provide protection against the confidentiality of personal or individual data. The application of this rule will be effective on May 25, 2018.
- Security System 2 (two) Steps (Two Step Verification) is a service provided by the BITCOIN.CO.ID platform as an option for Verified Member in providing additional security for Member/Verified Member Accounts.
REGISTRATION PROCESS/MEMBER REGISTRATION
- Requirements to be a Member are:
- Member can process registration or Member registration through BITCOIN.CO.ID platform;
- Agree and coincide to comply with these General Terms and Conditions;
- At least 18 (eighteen) years old, or married; and
- Have a legal identity.
- Not a citizen from the following countries: United States of America, Myanmar, Cote D’Ivoire, Cuba, Iran, Syrian Arab Republic, Belarus, Congo, Democratic Republic of Congo, Iraq, Liberia, Sudan, Zimbabwe and North Korea.
- For each registration process, prospective Member must show all and every data in accordance with personal identity in the form:
- Name (in accordance with the personal identity attached);
- Home address according to identity;
- Current residence address;
- Telephone number or Mobile (number must be active and used personally);
- Place and date of birth (according to the personal identity attached);
- Photo of valid identity card. Identity cards that can be used are: Identity Card (KTP), Driver’s License (SIM), Passport, Limited Stay Permit (KITAS), and Limited Stay Permit (KITAP);
- E-mail (e-mail address) that is active;
- And/or everything was requested and needed with regard to specified registration requirements, and the prospective Member hereby declare and guarantee that any data/explanation/document/information/statement given are related to registration process as Member BITCOIN.CO.ID is complete, original, true and in accordance with actual situation and is the latest data/explanation/document/information/statement that has not been amended and is still valid/not expired and no changes or other conditions have been agreed based on internal policy registration page on Website.
- Member hereby agree that the process of becoming Member BITCOIN.CO.ID will only be effective after all BITCOIN.CO.ID requirements are fulfilled by the Member and the registration process has gone through the verification process to be approved by BITCOIN.CO.ID. All risks arising in connection with the closing/blocking/freezing of Accounts caused by errors and/or negligence of Verified Member, will be the responsibility of Verified Member and BITCOIN.CO.ID will not compensate Verified Member or Party in any form for any claim/suit and compensation from Verified Member or any Party in connection with the closing of Verified Member
- All data, explanation, information, statement, document obtained by BITCOIN.CO.ID regarding the Member/Verified Member, will be the property of BITCOIN.CO.ID and BITCOIN.CO.ID have the right to verify, match, assess, keep confidential or use them for the benefit of BITCOIN.CO.ID in accordance with the applicable legal provisions without obligation BITCOIN.CO.ID to notify or request approval, provide guarantees or compensation and for any reason to the Member/Verified Member.
- BITCOIN.CO.ID will regulate, manage and carry out supervise according to procedures specified by the BITCOIN.CO.ID for all data, explanation, information, statement, document or anything related to the Member/Verified Member or the business activities or Member/Verified Member transactions related to Member/Verified Member
- Member/Verified Member approves and authorizes BITCOIN.CO.ID to use all data, explanation and information obtained by BITCOIN.CO.ID regarding Member/Verified Member including but not limited to using Member/Verified Member’s personal communication facilities for all other purposes as long as possible and permitted by Legislation that applies, including those aimed at marketing for BITCOIN.CO.ID or for other parties in collaboration with BITCOIN.CO.ID. For data usage that requires the approval of other parties, Member/Verified Member declares that they have given written approval to any Third Party for use such data, explanation and information, and therefore BITCOIN.CO.ID will not provide compensation and/or liability in any form to Member/Verified Member and any party for any risk, claim, suit and/or compensation that may arise in the future related to use of data, explanation and information that has obtained such written approval by BITCOIN.CO.ID.
IDENTIFICATION AND MEMBER/VERIFIED MEMBER ACCOUNT NAME
- Every Account opened will be administered by BITCOIN.CO.ID based on the special identification according to the Member/Verified Member’s name which will also apply as the name/identity of Account as stated in the Member/Verified Member’s Member/Verified Member was prohibited from using a Member/Verified Member Account other than Member/Verified Member’s Account, or accessing other Member/Verified Member Accounts, or helping other people in order to get unauthorized access to the Account. All usage Member/Verified Member Account is the sole responsibility of the Account owner recorded in the Website system.
- Member/Verified Member must use and include Member/Verified Member email and password verified by BITCOIN.CO.ID at registration. The BITCOIN.CO.ID system will automatically reject the service process for the Account, if it is not accompanied by the correct email and password. Member/Verified Member are responsible for maintaining the confidentiality of password, Account, PIN, access Crypto Asset pocket, email login access and all types of activities that include transactions in Member/Verified Member Member/Verified Member fully responsible for the use of passwords and Accounts in BITCOIN.CO.ID. If there is password and/or Account usage without permission from the Member/Verified Member and other alleged violations occur, Member/Verified Member must contact BITCOIN.CO.ID by sending e-mail to [email protected]bitcoin.co.id accompanied by relevant supporting information. BITCOIN.CO.ID not responsible for losses incurred due to misuse of Accounts and/or passwords, with or without Member/Verified Member knowledge.
- Member/Verified Member agrees not to use the services provided by Website to commit criminal acts of any kind, including but not limited to, money laundering, gambling, the purchase of illegal goods, terrorist activities or hacking activities. Each Member/Verified Member who violates these rules can be dismissed and/or Member/Verified Member Account can be frozen at any time by BITCOIN.CO.ID, and Member/Verified Member must be responsible for the losses suffered by BITCOIN.CO.ID or other users inside Website. BITCOIN.CO.ID has the right to close the Account and freeze funds, Crypto Asset and transactions therein if it finds suspicious activities in the Account up to an indefinite time.
ACCOUNT MEMBER/VERIFIED MEMBER MEDIA INFORMATION
Member/Verified Member can find out their Account information through BITCOIN.CO.ID service provided and set by BITCOIN.CO.ID. MEMBER/VERIFIED MEMBER DATA CHANGES
- Changes in Member/Verified Member Account Name
- Changes in Member/Verified Member Account Name can be carried out by a mechanism that is required to send the old name and new name of Account owner, username, e-mail, telephone number, and identity card number used (KTP/SIM/Passport/KITAS/KITAP). BITCOIN.CO.ID will carry out data matching process and will confirm to telephone number registered in Member/Verified Member Account to avoid the fraud. If the change process has passed, the Account name will change according to wishes of Member/Verified Member. With regard to change of name of this Account, Examples of allowed reasons are: misspelling of names, wanting to change the name to the name of parent because they are not old enough or the name of the husband/wife because they do not have a bank account in their own name. In the matter if the name of the Account owner still has relationship between relatives or parents, prospective Member/Verified Member are required to send soft-copy of the Family Card to [email protected] with subject ‘Complete Account Renaming Data’. If Member/Verified Member with the owner’s name is a conjugal relationship, prospective Member/Member/Verified Member is required to send soft-copy of the Marriage certificate.
- Changes in Supporting Data
- Changes and Updates of Supporting Data must be done by Member/Verified Member of data in the form of telephone numbers, e-mail addresses and other supporting data in accordance with current conditions. This is in accordance with KYC (Know Your Customer) Principles applied by BITCOIN.CO.ID. Changes and Updates Data is carried out by sending e-mail with subject ‘Change Data’ to [email protected] by writing down what Member/Verified Member data wants to adjust along with the reason for the change. The change process must be accompanied by inclusion personal identity soft-copy, username, full name, address, e-mail, old data that you want to change and data changes. Furthermore, BITCOIN.CO.ID will provide a notification by calling main telephone number or alternative telephone number that has been registered.
- Changes in Password
- Changes in Password is possible as a reason for security, and the mechanism is available in these services. For the security reasons after replacing Password, Member/Verified Member Account will be locked for 48 (forty-eight) hours. Member/Verified Member cannot withdraw funds when the Account is locked even though other transactions are running as usual. Member/Verified Member can reopen Member/Verified Member Account by re-entering the Google Authenticator PIN or verify the SMS PIN on the Security menu.
CITIZENS THAT ALLOWED TO BE MEMBERS OF BITCOIN.CO.ID
To become a BITCOIN.CO.ID Member, all citizens can be a member of BITCOIN.CO.ID, except citizens of the following countries:
1. United States
3. Cote D\’Ivoire
6. Syrian Arab Republic
9. Democratic Republic of Congo
14. Korea (north)
SCOPE OF BITCOIN.CO.ID TRADING ACTIVITIES
Website allow Verified Member to conduct trading activities on Website about:
- Purchase Crypto Assets in Rupiah.
- Sales Crypto Assets in Rupiah.
- To deposit money in Rupiah.
- Make withdrawals in Rupiah.
- Sending Crypto Asset to the Member/Verified Other Member inside Website and user Crypto Asset outside Website.
- Production and service of sending BITCOIN.CO.ID Vouchers which can be disbursed into Rupiah balances in other BITCOIN.CO.ID Accounts.
- Receive deposits in various forms Crypto Asset.
- Receive deposits in various forms of Crypto Assets by using the Services / Features of sending Crypto Assets on the BITCOIN.CO.ID platform.
PROCEDURES OF BITCOIN.CO.ID TRANSACTIONS
- Purchase of Crypto Asset is a type of service provided by BITCOIN.CO.ID platform in which a Verified Member can buy a Crypto Asset with Indonesian Rupiah using instant method / execute the buying process according to the agreed price rate.
- Sale of Crypto Asset is a type of service provided by BITCOIN.CO.ID platform in which a Verified Member can sell a Crypto Asset in trade with Indonesian Rupiah using instant method / execute the selling process according to the agreed price rate.
- Transaction on BITCOIN.CO.ID is using an instant method; hence buying and selling price has been final and include transaction fee.
DISCLAIMER, DELAY, AND CANCELLATION OF TRANSACTIONS
- Indodax.com has the right to postpone, cancel, and/or reject transactions if BITCOIN.CO.ID knows or based on consideration, suspects that fraudulent activities and/or criminal actions have been and/or will be carried out.
- Member/Verified Member agrees and acknowledges that as long as it is permissible by applicable legal provisions, BITCOIN.CO.ID must refuse to process all transactions.
- Member/Verified Member acknowledges that BITCOIN.CO.ID complies with the Law on financial crimes, including but not limited to, the Law on the Eradication of Corruption Crimes and the Law of Money Laundering in force in Indonesia and internationally, all laws and regulations applicable in Indonesia and BITCOIN.CO.ID internal policies. For this purpose, Member/Verified Member hereby agrees to provide all information requested by BITCOIN.CO.ID in order to fulfill these laws and regulations including but not limited to name, address, age, gender, personal identity statement, income, employment, assets, debt, source of wealth, purpose of opening an Account, investment objectives, all financial plans or other related financial information from Member/Verified Member. If needed by BITCOIN.CO.ID, Member/Verified Member also agrees to provide the latest data about that information to BITCOIN.CO.ID.
- BITCOIN.CO.ID is obliged to comply with the laws, regulations and requests of community institutions and the governments in different jurisdictions relating to the prevention of financing for, namely, terrorists and sanctioned parties. This can cause BITCOIN.CO.ID to intercept and investigate all payment orders and other information or communications sent to or by Member/Verified Member, or on behalf of the Member/Verified Member through the BITCOIN.CO.ID system. This process can also involve BITCOIN.CO.ID to conduct further investigations to determine whether the name that appears in all transactions carried out or will be carried out by the Member/Verified Member through the Account is the name of the terrorist.
- BITCOIN.CO.ID will not be responsible for any loss (directly and including but not limited to profit or interest loss) or loss suffered by any party arising from delay or negligence from BITCOIN.CO.ID to process all payment orders or other information or communication or to carry out all other obligations, which are caused in whole or in part by all actions taken based on number 4 of the Transaction\’s Rejection and Delay provisions.
- BITCOIN.CO.ID is authorized to monitor Member/Verified Member Accounts in order to prevent financial crime.
- Member/Verified Member understands and agrees that every transaction done by the BITCOIN.CO.ID is final and no cancellation can be made by Member/Verified Member.
- In the event of a suspicious transaction made through BITCOIN.CO.ID service, BITCOIN.CO.ID has the right to terminate/deactivate BITCOIN.CO.ID Account on Member/Verified Member and block transaction funds and delay transactions to Member/Verified Member, until there is a notification from BITCOIN.CO.ID.
- In the event of a suspicious transaction and/or transactions that exceed the transaction volume limit set by BITCOIN.CO.ID for Member/Verified Member for any reason, then BITCOIN.CO.ID has the right to delay crediting funds to the BITCOIN.CO.ID Member/Verified Member Account and/or do blocking the Account Member/Verified Member until the investigation process is completed within the period specified by BITCOIN.CO.ID.
- If it is proven that transaction in numbers 1 and 2 above about suspicious transaction is a transaction that violates the SKU and/or legislation in force, then Member/Verified Member hereby authorizes BITCOIN.CO.ID to debit Crypto Asset at BITCOIN.CO.ID Digital Pocket to compensate for BITCOIN.CO.ID losses arising from the transactions, without prejudice to the right to make compensation claims for all losses incurred due to the transaction and Member/Verified Member hereby agrees that BITCOIN.CO.ID isn’t obliged to refund BITCOIN.CO.ID credit or blocked funds as referred to in number 2 provisions concerning this suspicious transaction.
- Member/Verified Member hereby expressly agrees to comply with withdrawal limit for both the Digital and Rupiah Assets that apply to the Member/Verified Member Account, and BITCOIN.CO.ID which in this case applies Anti Money Laundering(AML) principles in accordance with the regulations of the Government of the Republic of Indonesia are empowered and the right not to process transactions that have exceeded the daily withdrawal limit which as determined by BITCOIN.CO.ID.
- The withdrawal limit is reset again or returns to 0 (zero) every 00:00 West Indonesia Time (WIB).
- Additional withdrawal limits can be made by submitting an application through link https://bitcoin.co.id/downloads/Formulir-Penambahan-Limit-Harian-Withdraw.pdf, where Member/Verified Member is required to fill, include and print all information contained in the form above the stamp of Rp6,000.- (six thousand Rupiah) and the Member/Verified Member must send soft copy this document either through photos or scan results, and make sure the writing can be read clearly, not crop, sensor or digital engineering in any form; to [email protected] with subject “Request for Increase in Withdrawal Limit“.
- The process of approval or rejection of an increase in the absolute daily limit is BITCOIN.CO.ID authority with the consideration from the audit team and law on demand, transaction history, source of funds, and purpose of transactions use and could not be intervened. Member/Verified Member who is refused to increase his limit could only submit a request again with a period of 1 × 24 (one twenty-four) hours.
- BITCOIN.CO.ID provides services for conducting Crypto Asset transactions in the form BITCOIN.CO.ID vouchers(hereinafter referred to as “voucher“), either in form of making, or disbursing vouchers that can be accessed on the ‘Voucher’ menu with the security system that can be selected by the Member/Verified Member that we recommend using 2 (two) steps of the security system. The voucher services was found on this link https://bitcoin.co.id/en/voucher
- That Voucher made, purchased or cashed will affect the Member/Verified Member balance which can be seen in Voucher history on Member/Verified Member Accounts related to the history of Member/Verified Member Voucher can be purchased or made with the minimum limit of Rp1,000.- (one thousand Rupiah) either through BITCOIN.CO.ID or through the BITCOIN.CO.ID official exchange partner. BITCOIN.CO.ID through these terms and conditions, it is advised not to conduct transaction activities through other space media including but not limited to chat interactions (hereinafter referred to as “chat-room”) on BITCOIN.CO.ID website. This matter is intended to anticipate fraud on behalf of the partner ex-changer BITCOIN.CO.ID. BITCOIN.CO.ID appeals to Member/Verified Member to be able to contact the partner ex-changer BITCOIN.CO.ID directly through the contact listed on the website when finding, knowing, experiencing an activity related to an action or activity on behalf of partner ex-changer BITCOIN.CO.ID. All transactions that occur between Member/Verified Member with partner ex-changer BITCOIN.CO.ID above is not the responsibility of BITCOIN.CO.ID.
- In order to facilitate transactions, and build the Crypto Asset community in Indonesia, BITCOIN.CO.ID collaborates with several international companies that are also engaged in the world of Crypto Asset and blockchain. The official BITCOIN.CO.ID partner is found in the following link.
- In order to facilitate and for our national official partner is available at this link.
- BITCOIN.CO.ID doesn’t cooperate in any way with chain social gathering companies, cloud mining, MLM, Ponzi Scheme, Money Game and HYIP that offer profits from trading or using Crypto Asset, and does not cooperate with the Biclubnetwork, BTCPanda, MMM Global, MMM Indonesia, Onecoin, Binary, BITCOINTRUST2U, BTCPANDA, BITKINGDOM, BITCLUBNETWORK, MMM GLOBAL, MMM Indonesia, EUROBIT, ILGAMOS, FUTURENET, E-DINAR and are not responsible for the use of the above services by Member/Verified Member;
- Companies that are not recorded inside the Website can be interpreted as not or not in collaboration with the BITCOIN.CO.ID. The BITCOIN.CO.ID does not recommend any company including companies that cooperate with BITCOIN.CO.ID. All decisions to use the service are the responsibility of each Member/Verified Member.
- BITCOIN.CO.ID hereby explains that it has no official affiliation with partner mentioned in paragraph (3) above. All transactions that occur between Member/Verified Member and the companies above are not the responsibility of BITCOIN.CO.ID.
COMPLAIN HANDLING STANDARDS
Member/Verified Member Complaints here are related to data violation notifications and/or if problems occur about ownership of Crypto Asset owned by Member/Verified Member. If these problems occur, the following mechanisms that must be done by Member/Verified Member include:
- Regarding Member/Verified Member complaints, Member/Verified Member has the right to notify BITCOIN.CO.ID with the following conditions:
- If Member/Verified Member receives the spam, all forms of wild advertisements and/or electronic mail on behalf of the names other than BITCOIN.CO.ID that request personal data and/or disturb the comfort of Member/Verified Member;
- If there is a crime practice of theft and fraud of Crypto Asset which results in the loss of Crypto Asset in the Member/Verified Member Account;
- If there is an alleged violation of Member/Verified Member data by another party which is not explained in points a and b above.
- Member/Verified Member can submit a complaint by filling out the complaint form provided by the BITCOIN.CO.ID. The complaint form could be downloaded directly at https://bitcoin.co.id which we provide or can be downloaded here;
- With regard to the practice of misusing Member/Verified Member data by other parties which results in spam or skimming practices, Member/Verified Member can request complaints by the following mechanism:
- As indicated in point 2, the Member/Verified Member can make a complaint by filling out the complaint form that we have provided and could send to the email [email protected];
- We will immediately follow up the report by handling complaints within 3 x 24 hours;
- If within that period, Member/Verified Member does not get service from us, then the Member/Verified Member could send the complaint form back to the email [email protected] and/or contact through BITCOIN.CO.ID representative office;
- Regarding the loss of Crypto Asset in Member/Verified Member Accounts as a result of criminal offenses practices of electronic parties by other parties, Member/Verified Member can make complaints with the following mechanism:
- As indicated in point 2, the Member/Verified Member can make a complaint by filling out the complaint form provided;
- This report will be carried out by the initial handler where the Account will be suspended by the reported party (the unexpected party) that holds or retrieves the Member/Verified Member Crypto Asset;
- The admin will forward your complaint report to the legal team to process further handling. The next handling is in the form of clarification with the reported party (the unexpected party);
- If this clarification stage is successful where the reported party gives a response, mediation will be carried out with reporting party (in this case Member/Verified Member who reports);
- If the mediation is unsuccessful then it will proceed through the report to the local police and we will prepare the requested data.
STATEMENT AND GUARANTEE
- All services inside the Website does not provide any warranty or guarantee and the BITCOIN.CO.ID does not guarantee that Website will always be accessible at any time.
- Member/Verified Member states and guarantees that they will use BITCOIN.CO.ID services properly and responsibly and not take actions that are contrary to the laws, rules and regulations that apply in the territory of the Republic of Indonesia.
- Member/Verified Member states and guarantees not to use BITCOIN.CO.ID services in the sale of goods and/services related to:
- Narcotics, materials and/or chemicals for research; ii) Money and anything similar to money, including derivatives; iii) Goods and/or services that violate Intellectual Property Rights; iv) Ammunition, firearms, explosives, sharp weapons in accordance with applicable legal provisions; v) Goods and/or services that show the personal information from Third Parties that violate applicable laws;
- Support for Ponzi schemes, matrix and MLM programs;
- Goods and/or services related to lottery purchases, lay-away systems;
- Services related to bank that are outside the territory of the Republic of Indonesia;
- Credit card payments;
- Settlement of credit and/or debt settlement;
- Support for prohibited organizations or prohibited by the government.
- Member/Verified Member declares and guarantees not to use services for the actions involved in practice of gambling and/or other activities that charge entry and promising prizes, including but not limited to casino games, gambling in sports, businesses that facilitate gambling and lottery methods.
- Member/Verified Member declares and guarantees that all the data, information and documents provided by Member/Verified Member to BITCOIN.CO.ID are true, legal, honest, transparent, complete and accurate data, information and documents. Member/Verified Member states that they are willing to be prosecuted in the criminal manner and if the BITCOIN.CO.ID knows or obtains information from any party that the data, information and documents provided by Member/Verified Member turns out to be untrue/not true/false. Member are willing to update data/information (profile update) if at any time requested by BITCOIN.CO.ID and all documents have been given become fully owned by BITCOIN.CO.ID.
- BITCOIN.CO.ID has provided sufficient information and explanation regarding BITCOIN.CO.ID services that will be used by Member/Verified Member in accordance with provisions in SKU and Member/Verified Member have understood and understood and willing to bear all consequences that may arise in connection with the use of BITCOIN.CO.ID services including benefits, risks and costs inherent in services and services.
- Member/Verified Member hereby agrees and authorizes BITCOIN.CO.ID to use all the data, explanation and information obtained by the BITCOIN.CO.ID regarding Member/Verified Member including but not limited to the use of Member/Verified Member’s personal communication facilities for all other purposes as long as possible and permitted by applicable legislation, including those aimed at marketing the BITCOIN.CO.ID products or other parties, in collaboration with BITCOIN.CO.ID. For data usage that requires approval of other parties, with this Member/Verified Member stating that there has been written approval from any third parties for the data usage, explanation and information, and therefore Member/Verified Member guarantees and agrees that BITCOIN.CO.ID will not provide compensation and/or liability in any form to the Member/Verified Member or any party of risks, losses, demands and/or responsibilities that may arise in the future in connection with data usage, explanation and information that has obtained such written approval by BITCOIN.CO.ID.
- Member/Verified Member declares and guarantees that transactions carried out using BITCOIN.CO.ID services are transactions that do not violate provisions of prevailing laws and regulations and provisions regarding receipt of the transaction implementation as stipulated in SKU. In the event that BITCOIN.CO.ID finds indications of transactions that are not in accordance with the provisions of the applicable legislation and/or provisions regarding acceptance of transactions arranged in SKU, then BITCOIN.CO.ID has full rights to close the Member/Verified Member Accounts by disabling BITCOIN.CO.ID services on the Member/Verified Member and the Member/Verified Member hereby agrees that BITCOIN.CO.ID hereby will not provide compensation and or liability in any form to the Member/Verified Member or any party for claim and/or demands arising in connection with the deactivation of the BITCOIN.CO.ID service on the Member/Verified Member.
- Member/Verified Member states and guarantees that risks to use of services, products and promotions of Third Parties with Member/Verified Member (if any), are borne by Member/Verified Member, and Member/Verified Member states that BITCOIN.CO.ID is not responsible for the service and the performance of Third Party services.
- Member/Verified Member hereby are fully responsible and agree that BITCOIN.CO.ID will not provide compensation and or liability in any form to Member/Verified Member or any party for any losses and or claims and or demands that arise or may be experienced by BITCOIN.CO.ID as a result of negligence or failure of Member/Verified Member in carrying out transactions.
- Member/Verified Member hereby guarantees the BITCOIN.CO.ID that the Member/Verified Member along with all employees and/or other parties work with the Member/Verified Member will not reproduce and/or make, give, rent, sell, move, transfer, and/or switch BITCOIN.CO.ID services either partially or wholly to other parties for any reason, including but not limited to misuse of bitcoin.co.id services to make transactions other than those specified in SKU for any purpose, including but not limited to crime/fraud /deception. If Member/Verified Member violates these provisions, then Member/Verified Member must be responsible for any losses, claims and/or suits arising from these violations and hereby agree that BITCOIN.CO.ID will not provide compensation and or liability in any form to the Member/Verified Member or any party for any claims or demands and/or claims arising from the violation
- As a form of our commitment and compliance with GDPR, BITCOIN.CO.ID guarantees that together with the General Terms and Conditions (SKU) that:
- BITCOIN.CO.ID continues to be committed and guarantees of our Member/Verified Member personal data and will act decisively if the other parties have used our Member/Verified Member information data;
- BITCOIN.CO.ID guarantees transfer of cross-border Crypto Asset;
- BITCOIN.CO.ID always applies protocols and mechanisms in the form of permission requests and approvals or notifications to Member/Verified Member for all forms of data processing in marketplace in depositing, withdrawing and/or updating data.
- Member/Verified Member agrees to bear any risks, losses or consequences suffered by the Member/Verified Member caused by, among others:
- Damage, delay, loss or error in sending order and communication, electronically caused by Member/Verified Member;
- BITCOIN.CO.ID Account report or notification of the use of BITCOIN.CO.ID services sent to the Member/Verified Member is received or read or misused by an unauthorized party on the BITCOIN.CO.ID Account,
- Account password known to other people/parties for Member/Verified Member errors,
- Member/Verified Member understands and agrees that Member/Verified Member will use BITCOIN.CO.ID Accounts and services for transactions that do not conflict with applicable laws and/or BITCOIN.CO.ID internal policies and/or other regulations that apply nationally and internationally related to the execution of the transaction, either directly or indirectly, and BITCOIN.CO.ID will not provide compensation and/or liability in any form to the Member/Verified Member or any party for any claims and/or claims and/or losses arising in connection with use of BITCOIN.CO.ID services by Member/Verified Member for transactions that are categorized as suspicious transactions and/or transactions that are prohibited by provisions of laws and/or BITCOIN.CO.ID internal policies that apply and/or other regulations that apply both nationally and internationally that are related to transaction activities carried out by Member/Verified Member directly or indirectly.
- In conducting transactions using BITCOIN.CO.ID service, Member/Verified Member understands and agrees that there are certain sanctions imposed by government, including other State governments and/or the other authorized agencies on several countries, bodies and individuals. Refer to this, BITCOIN.CO.ID has the right not to carry out/process transactions that are a violation of provisions of sanctions, and competent authorities can require disclosure of related information. BITCOIN.CO.ID is not responsible if bitcoin.co.id or other parties fail or delay the execution of the transaction, or disclosure of information as a result of direct or indirect violations of the sanction provisions.
- Crypto Asset Trading is the high-risk activity. Crypto Asset Price are volatile, where prices can change significantly over time. In connection with price fluctuations, value of Crypto Asset can increase or decrease significantly at any time. All Crypto Asset or not, have the potential to experience a change in the value drastically or even become meaningless. There is high risk of loss as a result of buying, selling or trading anything on the market and BITCOIN.CO.ID is not responsible for changes in fluctuations in Crypto Asset exchange rate.
- Crypto Asset Trading also has additional risks not experienced by Crypto Asset or other commodities on the market. Unlike most currencies guaranteed by government or other legal institutions or by gold and silver, Crypto Asset is a unique Crypto Asset and are guaranteed by the technology and trust. There is no central bank that can control, protect the value of Crypto Asset in a crisis, or print the currency.
- Member/Verified Member is encouraged to be careful in measuring financial situation and ensure that Member/Verified Member is willing to face risks involved in selling, buying or trading Crypto Asset. Member/Verified Member is strongly advised to carry out personal research before making a decision to trade Crypto Asset. All decisions on trading Crypto Asset are independent decision by user consciously without coercion and release BITCOIN.CO.ID for trading activities in Crypto Asset.
- BITCOIN.CO.ID does not guarantee the long-term sustainability of Crypto Asset traded or exchanged in this marketplace.
- With regard to mining activities Crypto Asset need to be rectified and confirmed that BITCOIN.CO.ID does not carry out mining, producing or printing Crypto Asset activities. Crypto asset was created and mined using the software specifically by miners that are scattered randomly throughout the world and was interconnected with the peer-to-peer technology on the blockchain.
Without reducing the intent of provisions regarding restrictions contained in the SKU, then the Member/Verified Member is prohibited from doing the following:
- Member/Verified Member was not permitted to take actions that can cause harm to BITCOIN.CO.ID and/or contrary to the SKU and applicable laws and regulations.
- If Member/Verified Member violates one or several conditions in this provision, then the Member/Verified Member will be fully responsible and hereby agree that for such violations BITCOIN.CO.ID has right to limit use BITCOIN.CO.ID services and Member/Verified Member knows and agrees that the BITCOIN.CO.ID will not provide compensation and/or liability in any form to that Member/Verified Member or any party for any risks or consequences arising from restrictions on the use of these services. Member/Verified Member hereinafter obliged to pay compensation to BITCOIN.CO.ID in the amount of the value of the loss that BITCOIN.CO.ID might experience for the violation. Member/Verified Member hereby authorizes BITCOIN.CO.ID to debit Member/Verified Member Accounts for such compensation payments. In the event that funds in Member/Verified Member Account are not available and/or insufficient, then the Member/Verified Member must return all of the funds in cash to BITCOIN.CO.ID within no later than 7 (seven) working days from the time BITCOIN.CO.ID submits that claim.
While working with BITCOIN.CO.ID and at any time afterwards, then:
- Any information and/or data provided by BITCOIN.CO.ID to Member/Verified Member and or data obtained by Member/Verified Member as implementation of SKU either given or delivered verbally, written, graphically or delivered through electronic media or information and/or data in other forms during the course of the conversation or during other work are confidential (hereinafter referred to as “Confidential Information“).
- Member/Verified Member agrees and coincidences that at any time keep confidential information obtained as an implementation of cooperation with anyone or will not use it for the interests of Member/Verified Member or the interests of other parties, without first obtaining written approval from the authorized official from BITCOIN.CO.ID or other authorized parties in accordance with applicable legal provisions.
- If Member/Verified Member violates provisions referred to in number 1 and 2 of the provisions regarding this confidentiality then all losses, claims and/or suits experienced by BITCOIN.CO.ID are full Member/Verified Member responsibility, and at the first request of BITCOIN.CO.ID, Member/Verified Member is obliged to settle it in accordance with the applicable legal and statutory provisions and provide compensation that may arise from violation to BITCOIN.CO.ID. Member/Verified Member hereby agrees that BITCOIN.CO.ID will not provide any form compensation and/or accountability to Member/Verified Member or any party for claim and/or suit may arise in the future in connection with violation.
- The obligation to keep confidential information as referred to in number 1 and 2 as regarding the confidentiality becomes invalid if:
- Such confidential information becomes available to the general public.
- Confidential information is ordered to be opened to fulfil the order of court or other authorized government body.
- Confidential information is provided in accordance with applicable legal provisions.
- Member/Verified Member agrees to make every effort and take action needed to avoid third parties in gaining access to or resulting in disclosure of confidential information.
- In the event that the collaboration is over, Member/Verified Member agrees that the obligation to keep documents and material that is confidential information as stipulated in this provision will remain valid.
- Member/Verified Member agrees that Default is the following thing or event:
- Default. If Member/Verified Member is negligence in carrying out an obligation or violates a provision in the SKU.
- Incorrect Statement. When it turns out that statement or guarantee given by Member/Verified Member in the SKU – is incorrect or not in accordance with the reality.
- In the event of an occurrence of negligence based on number 1 the provisions of this negligence by Member/Verified Member, then BITCOIN.CO.ID can choose whether to continue or close Member/Verified Member If BITCOIN.CO.ID wishes to close Member/Verified Member Account, then request must be notified to Member/Verified Member at a reasonable time according to BITCOIN.CO.ID.
- In the event of an occurrence of negligence by Member/Verified Member as intended, then bitcoin.co.id has the right to immediately or anytime to deactivate Member/Verified Member Account on BITCOIN.CO.ID without having to make the prior notice to Member/Verified Member, and Member/Verified Member hereby agree that BITCOIN.CO.ID will not provide compensation and/or liability in any form to Member/Verified Member or any parties for all demands and/or claims and/or suits and/or compensation requests from parties that may arise in connection with the occurrence of such negligence.
INTELLECTUAL PROPERTY RIGHTS
- Member/Verified Member declares and agrees BITCOIN.CO.ID as the holder of ownership rights to services, software, technology tools and content, websites and other materials including Intellectual Property Rights related to the BITCOIN.CO.ID facility.
- Member/Verified Member-only allowed to view, print, and/or download a material copy from Website for personal and non-commercial use. All commercial purposes need to get permission from BITCOIN.CO.ID. Every commercial activity without permission from the BITCOIN.CO.ID is interpreted as a violation of BITCOIN.CO.ID Intellectual Property Rights and results in the termination of the BITCOIN.CO.ID Account on Member/Verified Member and the Member / Verified Member must provide compensation to BITCOIN.CO.ID for losses incurred by the Member / Verified Member, when the Member / Verified Member abuses the authority and use of intellectual property rights, which is commercial and does not get permission from BITCOIN.CO.ID.
MEMBER/VERIFIED MEMBER ACCOUNT BLOCKING AND FREEZING
- To implement precautionary principle, BITCOIN.CO.ID has the right and Member/Verified Member hereby authorize BITCOIN.CO.ID to block part or all of Member/Verified Member balance (hold amount) and/or debit and terminate Account, if the following occurs:
- There is a request from the bank due to an error in sending funds and the bank is asking for blocking;
- In the opinion and consideration of BITCOIN.CO.ID there was an error in receiving transactions;
- BITCOIN.CO.ID is used as a shelter that is indicated as a result of crime including but not limited to the Corruption, bribery, narcotics, psychotropic, labour smuggling, people smuggling, banking, capital market, insurance, customs, excise, human trafficking, arms trading darkness, terrorism, kidnapping, theft, embezzlement, fraud, forgery, gambling, prostitution, taxation and terrorism;
- Member/Verified Member considered negligent in performing obligations based on the SKU;
- BITCOIN.CO.ID policy or by the government or authorized agency or the applicable regulations, so BITCOIN.CO.ID required to block and or freeze BITCOIN.CO.ID Account.
- In the event of account termination, Member/Verified Member agrees and states that is willing to remain bound by SKU to stop using BITCOIN.CO.ID services, give bitcoin.co.id right to delete all information and data in BITCOIN.CO.ID servers, and declare BITCOIN.CO.ID not responsible to Member/Verified Member or Third Party for termination of access and deletion of information and data in Member/Verified Member
That taxes on trading activities of Crypto Asset are taxes borne by each activity actor, in this case Member/Verified Member and BITCOIN.CO.ID. Member/Verified Member can consult tax payments to Personal Tax Consultants, and Bitcoin.co.id does not cover Member/Verified Member taxes unless otherwise specified in these Terms and Conditions.
BITCOIN.CO.ID has implemented network and security actions as information security network against unauthorized access to the use, changes and/or disclosures of Account, with security standards that are in accordance with the provisions of the applicable legislation. The entry of parties is responsible for access in the use, change and/or disclosure Account from third parties due to the Member/Verified Member negligence and/or errors resulting in the risk borne by the Member/Verified Member, then BITCOIN.CO.ID will not provide compensation and/or liability in any form to Member/Verified Member or any other parties for any risks, responsibilities and demands that may arise due to the negligence/deliberation/error of the Member/Verified Member in providing information.
- Force Majeure is defined as events that occur outside of BITCOIN.CO.ID capabilities and power, which affect the execution of transactions, including but not limited to:
- Earthquakes, hurricanes, pandemic, epidemic, floods, landslides, volcanic eruptions and other natural disasters;
- War, demonstrations, riots, terrorism, sabotage, embargoes and mass strikes;
- Economic policies from the Government that affect directly;
- Pandemic, Epidemic or that attack an area, city, island or country and others state of emergency and a state of force set by the government
- As long as BITCOIN.CO.ID has carried out all its obligations in accordance with applicable laws and regulations relating to the occurrence of Force Majeure, BITCOIN.CO.ID will not provide compensation and/or liability in any form to the Member/Verified Member or any other parties for any risks, responsibilities and demands anything that may arise in connection with the delay or failure to carry out obligations due to Force Majeure.
- Member/Verified Member agrees to communicate with the BITCOIN.CO.ID in electronic format, and agrees that all terms, conditions, agreements, notices, disclosures or any other forms of communication provided by BITCOIN.CO.ID to Member/Verified Member are electronically considered as written.
- Member/Verified Member agrees to receive e-mail from the Website. E-mail sent can contain information about Accounts, transactions, systems, promotions and so on.
Any conflicts, disputes or opinion differences (hereinafter referred to as “Disputes“ arising in connection with the implementation of cooperation will be settled in the following ways:
- That every Dispute, as far as possible, will be resolved by means of deliberation to reach consensus.
- Any Disputes that can’t be resolved by deliberation will be resolved through the Central Jakarta District Court.
SKUs are made, interpreted and enforced based on the laws of the Republic of Indonesia. Bitcoin.co.id and Member/Verified Member agreed to choose a common and unchanging legal residence at the Registrar’s Office of the CentralJakarta District Court. MISCELLANEOUS
- This SKU is subject to and enforced based on the Acts Number 8 of 2010 about the Money Laundering and PPATK Head Regulation PER-09/1.02.2/PPATK/09/12, No.PER-12/1.02/PPATK/06-13, No.PER-12/1.02.1/PPATK/09/11 and No.PER-02/1.02/PPATK/02/2014. All transactions with nominal value above Rp100,000,000.- (one hundred million Rupiah) are required to report the transaction to the PPATK.
- For things that have not been regulated in the SKU, all provisions in the Civil Code and the provisions of other relevant laws and regulations will apply.
- If BITCOIN.CO.ID changes the contents of this SKU then BITCOIN.CO.ID will notify changes to the Member/Verified Member in accordance with the applicable laws and regulations through media notices that are considered good by BITCOIN.CO.ID then Member/Verified Member will be subject to the changes to the SKU. Changes to each attachment from the SKU will be agreed upon and hereinafter constitute a unity with and are an integral part of the SKU.
- If Member/Verified Member does actions outside of KU provisions, Member/Verified Member will be fully responsible and hereby agrees that BITCOIN.CO.ID will not provide compensation and/or liability in any form to Member/Verified Member, or any party to all demands and/or claims and/or suits submitted by other party in connection with the actions taken by Member/Verified Member.
- Member/Verified Member shall be comply with all requirements listed in the SKU. Member/Verified Member Negligence comply with or implementing contents of SKU on one or several occasions will not eliminate Member/Verified Member obligation to fulfil all the requirements contained in the SKU.
- The questions about the Terms and Conditions or other matters, are made through [email protected].
GENERAL TERMS AND CONDITIONS OF MEMBER/VERIFIED MEMBER BITCOIN.CO.ID HAS BEEN ADJUSTED TO THE TERMS OF APPLICABLE LAW REGULATIONS