Terms of Use Download

Website Terms of Use

Last Updated: September 1, 2018

The BitNational website ("Website") is owned and operated by BitNationalEX Inc. ("BitNational").

Please carefully read these Terms of Use before using the BitNational website and services. These Terms of Use exempt BitNational and other persons from liability, specify the jurisdiction for the resolution of disputes and contain other important provisions.

BY USING THE BITNATIONAL WEBSITE, REGISTERING FOR A BITNATIONAL ACCOUNT ("ACCOUNT"), OR USING ANY OF OUR OTHER BITNATIONAL SERVICES, YOU ACKNOWLEDGE AND SIGNIFY THAT YOU HAVE READ, UNDERSTAND AND AGREE TO THESE TERMS OF USE. IF YOU DO NOT AGREE TO THESE TERMS OF USE, THEN YOU MAY NOT USE THE BITNATIONAL WEBSITE OR ITS SERVICES.

The Website offers services operated by BitNational to allow registered users ("Users") to: (i) buy and sell OR TRADE various supported digital currencies, including Bitcoin, Ethereum, Litecoin and Ripple XRP (each, a "Digital Currency"); (ii) transfer Digital Currency to other Users or other users of the Digital Currency outside AND WITHIN the Website; (iii) trade legal tender for Digital Currency; and (iv) purchase Digital Currency directly from BitNational; among other services (collectively, together with the Website, "Services").

Your Acceptance of These Terms

These Terms of Use are a binding agreement between you and BitNational regarding your access to and use of the Website and Services. Each time you use the Website, you signify your unconditional acceptance and agreement, without limitation or qualification, to the most current version of these Terms of Use. If you do not unconditionally accept and agree to these Terms of Use, then you may not use the Website.

In these Terms of Use, a reference to the "Website" includes all of the Website's content (including all text, graphics, images, video, and other elements available on or through the Website) and the design, structure, selection, arrangement and look and feel of each element of Website content and the Website as a whole.

Changes to these Terms of Use

BitNational may change these Terms of Use (and any other documents referenced in these Terms of Use, including the Fee Schedule at any time and from time to time, without any prior notice, by posting the changed Terms of Use on the Website at https://bitnational.com/terms-of-use. The changed Terms of Use are effective immediately on posting on the Website, unless the changed Terms of Use expressly state otherwise. It is your responsibility to check the "Last Updated" date at the top of these Terms of Use and review any changes since the previous version. By using the Website after these Terms of Use have been changed by BitNational, you signify your unconditional

acceptance and agreement to be bound by the changed Terms of Use. You may not change these Terms of Use.

Permitted Users

The Website may be used only by individuals (natural persons) who are the age of majority (which in most jurisdictions is either 18 or 19 years) in the jurisdiction in which they live and are capable of forming a binding contract under applicable law. You may not use the Website if: (i) you do not accept and agree to these Terms of Use; (ii) you have breached these Terms of Use; (iii) your permission to use the Website has been suspended or terminated by BitNational; (iv) you are located in, under the control of, or a national or resident of any Restricted Locations (as defined below), or any country to which Canada, the United States or any jurisdiction governing you has embargoed goods or services; or (v) are not identified as a "Specially Designated National" or placed on any denied persons list.

BitNational may not make the Services available in all markets and jurisdictions, and may restrict or prohibit use of the Services from certain jurisdictions ("Restricted Locations"). If you are registering to use the Services on behalf of a legal entity, you represent and warrant that: (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; and (ii) you are duly authorized by such legal entity to act on its behalf; and (iii) buying and selling Digital Currency and all other transactions through the Services (each, a "Transaction") are legal in your jurisdiction.

Permitted Use of the Website

Subject to these Terms of Use and all applicable laws, you may use the Website for your lawful, personal use for non-commercial purposes only, only in the manner purposefully made available by the Website and subject to these Terms of Use and all applicable laws. Use of the Website for any other purpose or in any other manner is strictly prohibited.

Registration, Accounts and Security

In order to engage in any Transactions, you must create an Account and provide any requested information. When you create an Account, you agree to: (a) create a strong password that you do not use for any other website or online service; (b) provide current, accurate and complete information, and to keep such information updated; (c) maintain and promptly update your Account information; (d) maintain the security of your Account by protecting your password and restricting access to your Account; and (e) promptly notify us if you discover or otherwise suspect any security breaches related to your Account; and (f) you will log out the Website by taking proper steps at the end of every visit.

You are responsible for maintaining the confidentiality of your Account information, including your password, safeguarding of your Digital Currency, and for all activities including Transactions that conducted through your Account. You are responsible for all activities that occur under your Account and accept all risks of any authorized or unauthorized access to your Account, to the maximum extent permitted by law.

You will not use any Account other than your own, or access the Account of any other User at any time, or assist others in obtaining unauthorised access. You may not open more than one Account at a time. You may not authorize others to trade in your account, nor will you trade on their behalf.

If there is any suspicious activity related to your Account, we may, but are not obligated to, request additional information from you, including authenticating documents, and to suspend any

Transactions during our review. You must comply with these security requests, or accept cancellation of Transactions or termination of your Account.

Funding and Transactions

Prior to performing any Transactions, you will need to add funds to your Account using the approved methods set out on the Website. You may be charged fees by your financial services provider for transferring funds to and from your Account. BitNational makes no guarantees regarding the time it may take to transfer funds to and from your Account. You acknowledge that your financial services provider may not permit transfers to or from your Account, or may otherwise not be available.

BitNational will not be responsible for any delays or failures to make such transfers. For any Digital Currency-only Accounts, you may only add and withdraw funds in that Digital Currency. Funds in your account will accrue any interest.

When you complete a Transaction request via the Services, you authorize BitNational to submit your request for the Transaction in accordance with your instructions provided through the Services. If you do not have sufficient funds in your Account to complete a Transaction, BitNational may cancel the entire Transaction or may partially fulfill the Transaction up to amount of funds available, less any Transaction fees.

BitNational may, at any time, in its discretion, cancel any Transaction, impose or change any restrictions or requirements on Transactions, including Transaction value limits, or any other changes to the Services or Website.

Fees and Taxes

Use of the Services may incur BitNational fees, as set out in our Fee Schedule, which may be updated from time to time by BitNational.

Risks for Digital Currency

Your access and use of the Website is at your own risk. There are inherent risks to using online trading technologies, including as a result of failures of hardware, software, internet connections and networks, and particularly in the field of Digital Currencies. The risk of loss from engaging in Transactions may be substantial. You acknowledge that values of Digital Currency can fluctuate significantly and may be subject to precipitous changes. You should therefore not use the Website or the Services if you do not understand the risk or have the financial resources to assume such risks.

BitNational is not a financial institution, bank, credit union, trust or caisse populaire, and does not accept deposits. BitNational does not and cannot guarantee the value of Digital Currency. Digital Currency is not legal tender, nor is it insured or controlled by governmental authorities which may operate to protect the value of the Digital Currency or your Account funds.

Digital Currencies rely on decentralized, partially anonymous third party networks using encryption technology, and BitNational is not responsible for, nor does it have control, over such networks or technology. Accordingly, BitNational does not guarantee that Transactions can always be effected by the Services, that Transactions will be completed, or made on a timely basis. Other Transactions may not be able to be made due to market conditions.

POSITIONS AND HOLDINGS ARE NOT DEPOSITS AND ARE NOT COVERED BY CANADIAN DEPOSIT INSURANCE CORPORATION (CDIC).

Termination and Suspension

You may close your Account at any time, subject to completion of any outstanding Transactions and any other operational requirements of BitNational. We will transfer the balance of any closed Account to you, less any applicable fees.

Upon notice to you, BitNational may close or temporarily suspend your Account, prohibit access to the Website or any part thereof, if BitNational believes you are in breach of these Terms or any other requirements of BitNational for the use of the Services, for technical reasons, infringing the intellectual property, using the Services for any illegal purposes, including money laundering or fraud, contractual or privacy rights of any third party, pursuant to any judicial or law enforcement order or request, any other illegal or tortious acts, or for any reason in BitNational's discretion. The closing of an Account will not affect any obligation to pay fees owing, or to complete any outstanding Transactions, except in BitNational's discretion.

Digital Currency/Errors

The information on or available through the Website, including information on the price and volatility of Digital Currency, is updated periodically on a delayed basis and provided for general information purposes only and is not intended for, and should not be relied on for, any trading, business, financial or other purposes. Such Information is not intended to be a comprehensive, current or complete statement of all matters and developments concerning Digital Currency, BitNational or its business. The information on or available through the Website might not be accurate, current or complete, and errors or inaccuracies might not be corrected. BitNational does not accept any liability for any information on or available through the Website. BitNational group is not liable or responsible in any way for any delays, inaccuracies or errors in any Digital Currency information, or for any damages, losses or costs arising from reliance on any prices or related information.

No Advice

The Website is for general informational purposes only, and is not, and should not be construed or interpreted as, professional advice or recommendations (including legal, financial, investment or other professional advice). It is your responsibility to obtain appropriate advice suitable to your particular circumstances from a qualified professional before acting or omitting to act based on any information obtained on or through the Website. Any decision to purchase or sell Digital Currency will be your sole decision and in your discretion, and we will not be liable for any loss suffered.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE PERFORMANCE.

No Solicitation/Offering

The Website is not intended to be (and should not be construed or interpreted as) a solicitation or offering of any securities in any jurisdiction. The information on or available through the Website is not intended to modify, qualify, supplement or amend any information disclosed by BitNational under any corporate or securities laws of any jurisdiction, and should be not used for the purpose of making any investment decision.

Linked Sites

For your convenience, the Website may provide links or references to Internet sites or resources operated by independent persons (collectively "Linked Sites"). Activating a link may cause your browser to leave the Website and connect with the Linked Site. Linked Sites are independent from the Website and may have different or inconsistent terms of use and privacy policies. BitNational does not sponsor or endorse, or have any responsibility or liability for or control over, any Linked Site, any information, product, service, business, company or content available on or through any

Linked Site or the collection of your personal information through any Linked Site or by the owner or operator of any Linked Site. Your use of a Linked Site and your dealings with the owner or operator of a Linked Site are at your own risk, and you will not make any claim against BitNational arising from, connected with, or relating to your use of any Linked Site, your dealings with the owner or operator of any Linked Site or any information, product, service, business, company or content available on or through any Linked Site.

Electronic Notices

Email messages sent over the Internet are not secure and BitNational is not responsible for any damages incurred by the result of sending email messages over the Internet.

You consent to receiving all notices, communications, agreements, documents, receipts, notices and disclosures (collectively, "Notices") that BitNational provides in connection with your Account or use of the Services in electronic form. Notices may be provided by email to the address provided by you, by posting on the Website, or other methods from time to time. You are responsible for maintaining any Notices you receive.

EXCLUSION OF LIABILITY

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT AND UNDER NO CIRCUMSTANCES WILL BITNATIONAL GROUP BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY LOSS, DAMAGE OR LIABILITY (INCLUDING DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL AND PUNITIVE DAMAGES) ARISING FROM, CONNECTED WITH OR RELATING TO YOUR USE OF, OR INABILITY TO USE, THE WEBSITE, SERVICES OR ANY RELATED MATTER, UNDER ANY THEORY (INCLUDING CONTRACT, TORT, STRICT LIABILITY, STATUTORY LIABILITY OR ANY OTHER THEORY OF LAW), REGARDLESS OF ANY NEGLIGENCE OR OTHER FAULT OR WRONGDOING (INCLUDING FUNDAMENTAL BREACH OR GROSS NEGLIGENCE) BY OR ON BEHALF OF BITNATIONAL GROUP, EVEN IF OTHER REMEDIES ARE NOT AVAILABLE OR DO NOT ADEQUATELY COMPENSATE YOU OR ANY OTHER PERSON FOR THE LOSS, DAMAGE AND LIABILITY, AND EVEN IF BITNATIONAL GROUP KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF THE LOSS, DAMAGE OR LIABILITY BEING INCURRED.

WITHOUT LIMITING THE GENERALITY OF THE PREVOIUS PARAGRAPH, BITNATIONAL'S LIABILITY TO YOU IN CONNECTION WITH THESE TERMS OF USE, THE WEBSITE AND SERVICES, SHALL NOT, IN THE AGGREGATE, EXCEED AN AMOUNT EQUAL TO THE FEES PAYABLE TO BITNATIONAL UNDER YOUR ACCOUNT DURING THE 12 MONTH PERIOD IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY.

IN THESE TERMS OF USE, "BITNATIONAL GROUP" MEANS BITNATIONAL AND EACH OF ITS CORPORATE AFFILIATES AND SUBSIDIARIES, LICENSORS, SUPPLIERS AND SERVICE PROVIDERS, AND EACH OF THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, CONTRACTORS, AGENTS, SHAREHOLDERS, DISTRIBUTORS AND REPRESENTATIVES, JOINTLY AND SEVERALLY.

Indemnity

You agree to indemnify, defend and hold the BitNational Group harmless against any and all claims, costs, losses, damages, liabilities, judgments and expenses (including reasonable legal fees) arising from or in any way related to your use of the Website, Services, your breach of these Terms, your Transactions, or your violation of any rights of any other person or entity.

Privacy Policy

The Website collects information that you specifically and knowingly provide, and uses technological measures to collect information about your use of the Website. By using the Website, you consent to the collection, use, disclosure and retention of your personal information by or on behalf of BitNational as explained in the BitNational Privacy Policy, as revised from time to time, and as otherwise permitted by applicable law.

Feedback

If you give any feedback (including any ideas or suggestions for enhancements or improvements) about the Website or Services, or any of BitNational's products or services to BitNational, then BitNational and its suppliers and licensors and their respective successors, assigns and licensees may use and commercialize the feedback in any and all ways and for any and all purposes without providing any compensation or attribution to you or any other person.

COMPLAINTS

FORMALLY SUBMIT ANY COPLAINTS IN WRITING VIA THE WEB CONTACT FORM. A TARGET RESPONSE TIME OF 48 HOURS SHOULD BE EXPECTED.

Additional Prohibited Uses

You will not: use the Website in any manner or for any purpose except as expressly permitted by these Terms of Use; attempt to circumvent the ordinary navigational structure, technical delivery systems or display of the Website or attempt to access or use the Website by any means that is not deliberately made available for that purpose by BitNational; use or attempt to use another User's Account; use the Website in a way that interferes with or disrupts the security, integrity, functionality, operation or performance of the Website or any related computer system, network or data; use the Website or Services in any manner that could interfere with, disrupt, negatively affect or inhibit other users from fully enjoying the Website or Services, or that could damage, disable, overburden or impair the functioning of the Services in any manner; license, sublicense, grant, sell, resell, lend, rent, lease, loan, share, transfer, assign, pledge, copy, reproduce, distribute, imitate, publish, republish, translate, repost, publicly display, publicly perform, transmit, distribute, create any interest in, commercially exploit, or otherwise give or make available or permit access or use of the Website to or for the benefit of any other person, whether as a service bureau or otherwise, and with or without charge; index, crawl, catalogue, mirror, frame, scrape, cache, or otherwise collect or mine data from the Website for any purpose whatsoever, using any technologies, tools or methods (including robots, spiders, crawlers, or other automatic devices, programs or methodologies) whatsoever; alter, violate, circumvent, conceal, modify or remove any notices (including proprietary rights notices), proprietary codes or locks, means of identification, digital rights tools or management information, technological protection measures, security or control measures, or agreements on, in or in relation to the Website; develop any third party applications that interacts with the Website or Services; or authorize, permit, assist, encourage or enable any other person to do any of the foregoing or to use the Website in a way that would constitute an infringement of the rights of BitNational or a breach of these Terms of Use if it were done by you. The foregoing restrictions do not apply if and to the extent, but only to the extent, that the restrictions are prohibited by applicable law.

Ownership of Website

Copyright © 2017 BitNational, all rights reserved. The Website and the technologies and data used to operate the Website and all related proprietary rights (including copyright) are owned solely by BitNational and its licensors and are protected by Canadian and international intellectual property

laws. You will not acquire any right, title or interest in, to or associated with the Website or any related technologies and data.

Trademarks

BITNATIONAL™, the BITNATIONAL™ DESIGN Logo, and other related trademarks and symbols are registered or unregistered trademarks, service marks and trade names owned or used under license by BitNational. Other product and company names and logos appearing on the Website may be registered or unregistered trademarks, service marks or trade names of their respective owners. Any use of the trademarks, service marks or trade names displayed on the Website is strictly prohibited, and nothing appearing on the Website will be construed as granting any licence or right to use any of those trademarks, service marks or trade names.

DISCLAIMERS

GENERAL DISCLAIMER: TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE WEBSITE IS MADE AVAILABLE AND PROVIDED TO YOU ON AN "AS IS", "AS AVAILABLE" AND "WITH ALL FAULTS" BASIS AND WITHOUT ANY REPRESENTATION, WARRANTY, CONDITION OR GUARANTEE OF ANY NATURE OR KIND WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, OR ARISING FROM CUSTOM OR TRADE USAGE OR BY ANY COURSE OF DEALING OR COURSE OF PERFORMANCE, INCLUDING ANY REPRESENTATION, WARRANTY, CONDITION OR GUARANTEE OF OR RELATING TO ACCURACY; COMPLETENESS; TIMELINESS; LACK OF ERRORS, VIRUSES OR OTHER HARMFUL COMPONENTS; FITNESS FOR A PARTICULAR PURPOSE; MERCHANTABILITY; NON- INFRINGEMENT OR RESULTS; ALL OF WHICH ARE HEREBY WAIVED BY YOU AND DISCLAIMED BY BITNATIONAL GROUP TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW; AND NO REPRESENTATION, WARRANTY, CONDITION OR GUARANTEE WILL BE CREATED BY ANY ADVICE OR INFORMATION, WHETHER ORAL OR WRITTEN, PROVIDED BY OR ON BEHALF OF BITNATIONAL GROUP. IF YOU ARE DISSATISFIED WITH THE WEBSITE, YOUR SOLE REMEDY IS TO STOP USING THE WEBSITE.

Restrictions/Changes/Termination

The Website may contain technologies that restrict or limit the use of the Website. BitNational in its discretion may change, suspend or terminate the Website, or limit, suspend or terminate your use of the Website, effective immediately at any time and without any notice or liability to you or any other person. The Website may be interrupted or unavailable from time to time, including for maintenance or due to causes beyond the control of BitNational, all without any notice or liability to you or any other person.

If your permission to use the Website is terminated for any reason, then these Terms of Use will continue to apply and be binding regarding your access to and use of the Website before termination and all related matters (including any related dispute).

Governing Law

These Terms of Use and the Website and all related matters are governed by, and will be construed and interpreted solely in accordance with, the laws of the Province of British Columbia, Canada and applicable federal laws of Canada, excluding any rules of private international law or the conflict of laws that would lead to the application of the laws of any other jurisdiction.

Disputes

Except as expressly set out below, and unless applicable law requires otherwise, all disputes, controversies and claims arising under, out of, in connection with, or in relation to these Terms of Use or the Website or any related matter (each a "Dispute") will be referred to and finally resolved by binding arbitration administered by ICDR Canada in accordance with its Canadian Arbitration Rules. The number of arbitrators will be one. The place of arbitration will be Vancouver, British Columbia. The language of the arbitration will be the English language. If ICDR Canada is not operative, the arbitration will proceed ad hoc and be governed by the Arbitration Act (British Columbia).

Notwithstanding the foregoing, BitNational may commence legal proceedings against you in the courts of any jurisdiction seeking injunctive relief (or similar urgent legal remedies) to enforce these Terms of Use or to protect BitNational's rights and interests.

You will commence legal proceedings regarding a Dispute within twelve (12) months after the Dispute arises, after which time any and all legal proceedings by you regarding the Dispute will be forever barred. Any shorter time limit provided by law remains unaffected.

General Matters

Miscellaneous: These Terms of Use are binding on you and your heirs, executors, administrators, successors, permitted assigns and personal representatives. These Terms of Use are for the benefit of BitNational Group. No consent or waiver by BitNational to or of any breach by you of these Terms of Use will be effective unless in writing and signed by BitNational or will be considered to be a consent to or waiver of a continuing breach or any other breach by you. The rights and remedies of BitNational Group under these Terms of Use are cumulative and not exhaustive or exclusive of any other rights or remedies to which BitNational Group may be lawfully entitled under these Terms of Use or at law, and BitNational Group may pursue any and all rights and remedies concurrently, consecutively and alternatively. You will not assign or transfer these Terms of Use or any of your rights and obligations under these Terms of Use without the express prior written consent of BitNational, which consent may be withheld in BitNational's discretion. BitNational may, without your consent, assign its rights and obligations under these Terms of Use. If any provision of these Terms of Use is held by a court or arbitrator of competent jurisdiction to be unenforceable or invalid for any reason, then the provision will be deemed severed from these Terms of Use and the remaining provisions will continue in full force and effect unless as a result of the severance these Terms of Use would fail in their essential purpose.

Interpretation: In these Terms of Use: a reference to "Terms of Use" refers to these Website Terms of Use as a whole, and not just to the particular provision in which those words

appear; headings are for reference only; words importing the singular number only include the plural, and vice versa; "discretion" means a person's sole, absolute and unfettered

discretion; "including" or "includes" means including or includes (as applicable) without limitation or restriction; "law" includes common law, equity, statutes and regulations; and "person" includes an individual, corporation and any other legal entity.

Complete Agreement: These Terms of Use set out the entire agreement between you and BitNational regarding your use of the Website. These Terms of Use may not be modified except as set out in Section 2. There are no representations, warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory, between you and BitNational regarding the Website.

Language: You and BitNational have each expressly requested and required that these Terms of Use and all Notices be drawn up in the English language. Les parties conviennent et exigent expressément que ce Contrat et tous les documents qui s'y rapportent soient rédigés en

anglais. Subject to applicable law, any non-English translation of these Terms of Use provided by

BitNational is for convenience only, and if there is a conflict or inconsistency between the English version and a non-English version then the English version will take priority and govern.

If you have any questions or comments regarding these Terms of Use, please contact us by using the BitNational Support Center.

IF YOU DO NOT ACCEPT AND AGREE TO THESE TERMS OF USE, THEN YOU MAY NOT USE THE WEBSITE.

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