BitcoinzTech is owned and operated by Gear Pick Company Limited.
Gear Pick Company Limited and its Affiliates (collectively: “we,” “our,” “us”,
By accepting these Terms you hereby agree and acknowledge that the Services described herein are being provided by multiple Gear Pick entities incorporated and existing in various jurisdictions, based on the scope and nature of the Services, your jurisdiction and applicable laws. We may, from time to time, provide certain Services by different entities within the Gear Pick group, and any change in and/or assignment of the contracting entity shall not be considered an amendment of these Terms.
WHEN YOU TRANSFER DIGITAL ASSETS TO GEAR PICK, THOSE DIGITAL ASSETS ARE A LOAN FROM YOU TO GEAR PICK, IN ACCORDANCE WITH THE TERMS HEREOF. UNDER NO CIRCUMSTANCES DOES GEAR PICK HOLD DIGITAL ASSETS IN CUSTODY ON YOUR BEHALF AS PART OF THE SERVICES GOVERNED BY THESE TERMS.
ALL DIGITAL ASSETS TRANSFERRED TO GEAR PICK AS PART OF THE SERVICES ARE OWNED AND HELD BY GEAR PICK FOR ITS OWN ACCOUNT. THE USE OF TERMS SUCH AS “ACCOUNT,” “ACCOUNT BALANCE,” “WITHDRAW” AND SIMILAR DOES NOT IMPLY OR ESTABLISH, AND SHALL NOT BE TAKEN TO SUGGEST, ANY FORM OF CUSTODY RELATIONSHIP, AND SUCH LANGUAGE IS USED HEREIN AS TERMS OF CONVENIENCE ONLY IN REFERRING TO USERS’
Capitalized terms shall have the meanings assigned to them in these Terms, unless the context requires otherwise.
“Account” or “BitcoinzTech Account” means a User’s designated user account on the BitcoinzTech website or mobile application, allowing a User to access and use the Services, and view and manage his or her personal information and profile. Your Account is not a bank account, deposit account, savings accounts, checking account, or any other type of asset account and should not be characterized as a banking product or service.
“Affiliate” means an entity that owns or controls, is owned or controlled by, or is or under common control or ownership with a party, where control is defined as the direct or indirect power to direct or cause the direction of the management and policies of such party, whether through ownership of voting securities, by contract, or otherwise.
A. BitcoinzTech Account
Your BitcoinzTech Account allows you to view your balances in connection with the Services provided to you by Gear Pick and access the Services and conduct certain transactions online. You are solely responsible for the activities under your BitcoinzTech Account and for securing your BitcoinzTech Account IDs, passwords, hints, or any other codes that you use to access your BitcoinzTech Account and the Services. Gear Pick is not responsible for any loss or compromise of your access information and/or your personal information, or for any loss that you may sustain due to compromise of your access information and/or personal information.
We will not be liable for following any instruction we receive through your BitcoinzTech Account, even if it was not authorized by you, or if it was entered by mistake or is otherwise inaccurate. To verify the authenticity of any instruction we receive through your BitcoinzTech Account, we may require your signature or identification in any form we deem necessary, at our sole discretion, and we may accept digital images and electronic signatures for documents that need to be signed. You agree to reimburse us (and we may charge you or deduct from the balance of your BitcoinzTech Account) for all claims, costs, losses and damages, including reasonable attorneys’ fees, that result from our following of your instructions to take any action related to your BitcoinzTech Account.
Your BitcoinzTech Account is not a deposit or checking account, and Gear Pick does not hold any Digital Assets on your behalf. All Digital Asset balances on your Account represent Digital Assets that are either loaned by you to Gear Pick, and therefore, owned, held and/or controlled by Gear Pick (under the applicable Service, as further detailed herein), and subject to Gear Pick’ obligation to deliver such Digital Assets back to you upon the termination of the applicable Service.
Gear Pick may freeze, suspend or terminate your Account at any time in its sole discretion, in addition to taking any action and seeking any remedy it may be entitled to in law or in equity, in any event it may have any suspicion of your involvement in any fraudulent activity of any kind, misuse of the Services, inaccurate or misleading information provided by you, or any money laundering or other financial crime related to you or your BitcoinzTech Account.
B. Earn Rewards
By lending your Digital Assets to Gear Pick you grant Gear Pick all rights and title to such Digital Assets, for Gear Pick to use in its sole discretion.
The balance of Digital Assets loaned by you to Gear Pick, and any Rewards gained thereon are visible via your BitcoinzTech Account. You may terminate any loan to Gear Pick at any time after maturity, and request that Gear Pick return the borrowed Digital Assets and deliver any Rewards from the Earn Rewards service, in each case by transferring such Digital Assets and Rewards to your external Virtual Wallet.
Earn Rewards is not an investment program nor a speculative tool. Rather, you are earning Rewards as a financing fee on the loan of Digital Assets you have transferred to Gear Pick, in accordance with the rates published by Gear Pick from time to time, in accordance with these Terms.
By virtue of agreeing to these Terms and transferring any Digital Assets to Gear Pick via our platform (which, for the avoidance of doubt, shall be seen as completed only upon the receipt of such Digital Assets, you agree to lend such Digital Assets to Gear Pick in accordance with the terms hereof.
You may apply to borrow certain Fiat currencies or Stablecoins from an Affiliate of Gear Pick, as will be agreed between you and Gear Pick or its Affiliates in writing, against Eligible Digital Assets in your BitcoinzTech Account (each, a “Loan”). If approved, such application shall be subject to a separate agreement to be entered into between you and the Gear Pick Affiliate (the“Loan Agreement”), and Gear Pick or its Affiliates shall hold the Digital Assets provided as collateral under the Loan Agreement for the benefit of the Lender subject to the terms hereof, including without limitation Sections 9, 10 and 13.
In no circumstances shall it be permissible for you to use the proceeds of such Loans to purchase additional Digital Assets through any third party fiat “on-ramp” service providers that may be integrated in or connected with the BitcoinzTech platform from time to time, and you represent and warrant that you will not do so. Gear Pick further does not recommend or encourage any use of borrowed funds for purchasing Digital Assets or making any financial investment. You represent that any use by you of the proceeds of Loans shall be in full compliance with all applicable laws and regulations, these Terms, and the applicable Loan Agreement, and you shall be solely responsible and liable for any breach of any of the foregoing.
Any Eligible Digital Assets you provide as collateral under a Loan Agreement shall not be eligible for another Service provided by Gear Pick at the same time, including the Earn Service, as set out above, and by entering into any Loan Agreement you explicitly authorize Gear Pick to deduct the amount of Eligible Digital Assets corresponding to the collateral amount from the applicable Service in your BitcoinzTech Account.
Gear Pick may in its sole discretion offer other forms of commercial arrangement under the Borrow Service, such as a sale and repurchase arrangement, based on its regulatory, business, or other considerations.
4. Authorized Users
For BitcoinzTech Accounts, we may follow any instructions regarding your BitcoinzTech Accounts provided that we reasonably believe such instructions are authorized by the BitcoinzTech Account holder, and we will not be held liable for following any instructions provided by a person designated or identified as an authorized User or Authorized Representative.
5. Account Balance
Your BitcoinzTech Account balance visible through the platform shall indicate the amounts of Digital Assets owed to you by Gear Pick. You can lend additional Digital Assets to Gear Pick by transferring the same to BitcoinzTech Account Wallet Address(es) (or as otherwise notified by us to you). We reserve the right to reject entry into any loan transaction, and/or the right to repay any loan of Digital Asset already made, each at your expense. Any Digital Asset received will be treated by us as being loaned to us beginning on the date and at the time stamped on the Blockchain confirmation.
Once such Digital Assets are received by Gear Pick, they shall be Gear Pick’ property for all intents and purposes, and you will immediately start accruing Rewards on such Digital Assets in accordance with the terms hereof (unless explicitly provided for the purpose of being utilized for any other Service), and the corresponding amount (and kind) of Digital Assets shall be reflected in your BitcoinzTech Account balance.
It is your sole responsibility to make sure that Digital Assets you wish to lend to Gear Pick which are transferred on the Blockchain is directed to the correct Virtual Wallet Address as provided to you by Gear Pick (which may differ from time to time and between different Digital Assets).
If you do not carefully follow these instructions, your Digital Assets may be irrevocably lost, and Gear Pick may not be able to assist you in retrieving them. Gear Pick will not be liable to you for any such loss.
6. Ownership of Digital Assets
You hereby represent and warrant to us that any Digital Asset delivered by you for the purpose of utilizing Gear Pick’ Services is owned by you or that you are fully permitted to carry out transactions using such Digital Assets without restriction or limitation, and that your use of the Services is solely for your own account and benefit, and not on behalf of any other person or entity. You further represent and warrant that all such Digital Assets are free from any claims, indebtedness, liens, or third-party interests.
ALL DIGITAL ASSETS TRANSFERRED TO GEAR PICK AS PART OF THE SERVICES ARE OWNED AND HELD BY GEAR PICK FOR ITS OWN ACCOUNT IN ACCORDANCE WITH THESE TERMS, AND UNDER NO CIRCUMSTANCES DOES GEAR PICK HOLD DIGITAL ASSETS ON YOUR BEHALF AS PART OF THE SERVICES.
7. Setoff and Security Interest Rights
You grant us a security interest in any and all Eligible Digital Assets loaned to Gear Pick or otherwise credited to your BitcoinzTech Account for debts, amounts owed, or liabilities incurred to us or any of our Affiliates by you or any of your Authorized Representatives, if any (“Obligations”). Obligations may include both secured and unsecured debts, and Obligations you owe individually or together with someone else, including Obligations under other transactions or agreements between you and us or any of our Affiliates.
We may take or set off from any Digital Asset balance in your BitcoinzTech Accounts, or deduct from any obligations Gear Pick may have to you, any direct, indirect, and acquired Obligations that you owe us or our Affiliates. These rights are in addition to other rights we may have to take, transfer, or charge from any assets or balance in your BitcoinzTech Account for Obligations you owe us or our Affiliates.
Your acceptance of these Terms serves as your consent to Gear Pick’ asserting its security interest or exercising its right of setoff should any laws governing your BitcoinzTech Account require your consent. If the law restricts our ability to take, transfer, or setoff from any obligations to you, or if your BitcoinzTech Account balance is protected from attachment, levy, or legal process, you waive those conditions and limits to the full extent that you may do so by contract, and you authorize us to take any actions to offset your Obligations in any or all of your BitcoinzTech Accounts.
We hereby agree that, to the extent permitted by applicable law, in the event that Gear Pick breaches its obligation under these Terms, you may set off assets or amounts we owe you with respect to your BitcoinzTech Account, against your Obligations. If the law restricts your ability to take, transfer, or setoff our obligations to you, or if they are protected from attachment, levy, or legal process, we waive those conditions and limits to the full extent that we may do so by contract, and we authorize you to apply our obligations to you to your Obligations.
8. Risk Disclosure
Before using any of Gear Pick’ Services, you should ensure that you fully understand and can afford to undertake the risks involved. You should carefully read and make sure you understand our risk disclosure page http://bitcoinztech/risk-disclosure, which lists some, but not all of the risks involved in holding, trading and using crypto assets generally, and using Gear Pick’ services specifically. The risks listed below and in our risk disclosure page are intended to provide you with a general outline of the risks involved, but cannot capture all such risks.
These Terms and your use of any of our Services do not create a fiduciary relationship between us and you; your BitcoinzTech Account is not a checking or savings account, and it is not covered by insurance against losses. We may lend, sell, pledge, hypothecate, assign, invest, use, commingle or otherwise dispose of assets and Digital Assets to counterparties or hold the Digital Assets with counterparties, and we will use our best commercial and operational efforts to prevent losses. By lending Digital Assets to Gear Pick or otherwise using the Services, you will not be entitled to any profits or income Gear Pick may generate from any subsequent use of any Digital Assets (or otherwise), nor will you be exposed to any losses which Gear Pick may suffer as a result thereof. You are, however, exposed to the possibility of Gear Pick becoming unable to repay its obligations in part or in full, in which case your Digital Assets may be at risk.
ELIGIBLE DIGITAL ASSETS ARE NOT LEGAL TENDER. GEAR PICK IS NOT A BANK OR DEPOSITORY INSTITUTION, AND YOUR BITCOINZ TECH ACCOUNT IS NOT A DEPOSIT ACCOUNT. ELIGIBLE DIGITAL ASSETS REPRESENTED IN YOUR BITCOINZ TECH ACCOUNT ARE NOT HELD BY GEAR PICK AS A CUSTODIAN OR FIDUCIARY, ARE NOT INSURED BY ANY PRIVATE OR GOVERNMENTAL INSURANCE PLAN (INCLUDING THE FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC) OR THE SECURITIES INVESTOR PROTECTION CORPORATION (SIPC)), AND ARE NOT COVERED BY ANY COMPENSATION SCHEME. YOUR BITCOINZ TECH ACCOUNT DOES NOT CONSTITUTE AN INVESTMENT CONTRACT OR A SECURITY, IS NOT TRANSFERRABLE AND MAY NOT BE TRADED, EXCHANGED OR SOLD TO ANY THIRD PARTY UNDER ANY CIRCUMSTANCES.
Gear Pick does not provide any legal, tax or financial advice and you are strongly advised to obtain independent legal, tax or financial advice prior to making any financial decision, including buying, trading, holding or using Digital Assets. There are significant risks associated with Digital Assets, and you are solely responsible to make sure you understand such risks and assess whether such risks are appropriate for you. Gear Pick does not make any offers, recommendations or invitations for you to deal in Digital Assets or use any services, and does not take into account your personal circumstances, financial situation, needs or goals. Before making any financial decision, you should carefully assess your financial situation and capacity, and only use funds that you can afford to lose. Before entering into any transaction or using any of the Services you should ensure that you understand and have made an independent assessment of the suitability and appropriateness of a transaction into which you are entering and the nature and extent of your exposure to risk of loss in light of your own objectives, financial and operational resources and other relevant circumstances. Past performance is no guarantee of future results.
Legislative and regulatory changes or actions at the state, federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Assets. Transactions in Digital Assets may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Fiat currencies or other Digital Assets. If such willingness is abolished for any reason, this may result in the potential for a permanent and total loss of value of a particular Digital Asset.
The volatility and unpredictability of the price of Digital Assets may result in significant loss over a short period of time. The nature of Digital Assets may lead to an increased risk of fraud or cyber-attack, including rollback attacks or Blockchain reorganizations. The nature of Digital Assets means that any technological difficulties experienced by Gear Pick or third parties may limit, delay or prevent the access or use of Digital Assets and/or cause losses of Digital Assets. Although Gear Pick takes precautionary measures to protect against cyber threats, circumstances may arise where losses or damages are incurred.
In light of these risks, which are only some of the risks involved in using the Services and holding or trading in Digital Assets, and do not constitute an exhaustive list of such risks, you should carefully consider whether holding or trading Digital Assets in general and/or using our Services is suitable for you in light of your financial condition.
Subject to these Terms, you have a call option on all loans made to Gear Pick to demand immediate complete or partial repayment of any loan at any time after the maturity date, through a complete or partial withdrawal of Digital Assets from your BitcoinzTech Account balance at any time. Such repayment will terminate in whole or in part your loan to Gear Pick and you shall no longer accrue Rewards on the amount of loans as of the time of your exercise of the call option. Gear Pick initiates the withdrawal process of the matured amount immediately following a withdrawal request when possible; however, we may require up to three (3) days after you submit your withdrawal request to process the withdrawal.
For every withdrawal request, you will be required to provide the details of the Virtual Wallet to which you wish to receive your repayment of Digital Assets. For the avoidance of doubt, any repayment shall be in-kind (i.e. in the same type of Digital Assets loaned by you, but not the actual same Digital Assets originally transferred by you). In the event that the details you provide are inaccurate, incomplete or misleading, your Digital Assets may be permanently lost. We will not be liable for any loss that results from inaccurate, incomplete or misleading details that you may provide for such transfer. If the transfer address you specify is one to which we are unable to process transfers, we will have no liability for any resulting failure or delay in processing your requested withdrawal.
Gear Pick and our third-party partners may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties which could result in the immediate halt of transactions either temporarily or permanently. Provided that Gear Pick has taken reasonable commercial and operational measures to prevent such events in technical systems controlled by Gear Pick, Gear Pick is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transactions. Withdrawal limits based on amounts and/or frequency may apply from time to time, based on legal, regulatory, AML and/or security considerations. Our policies and procedures may require additional security and/or compliance checks that require additional time to complete. Any individual request to exceed withdrawal limits set by Gear Pick must be sent via email to firstname.lastname@example.org
Every transmission request shall be deemed pending until accepted by us. We may refuse to accept such request, or delay the processing of an approved request for any reasonable reason, including but not limited to inaccurate or misleading information provided by you, or any doubt or suspicion of fraud, misrepresentation, a sanctioned transaction, money laundering, terrorism financing or other financial crime related to your BitcoinzTech Account.
10. How Rewards Are Calculated and Earned
We periodically update our rates and the rate changes are made in our sole discretion. Rewards will be payable in arrears and added to the principal loaned by you to Gear Pick, as part of the Earn Service, and reflected in your BitcoinzTech Account balance at the time of maturity.
If Gear Pick has determined, in its sole and absolute discretion, that for any regulatory or legal reason we are limited in the Rewards rate we may offer you on your Eligible Digital Assets loaned to Gear Pick (or if we are completely restricted from paying any Rewards to you whatsoever), the Rewards to which you shall be entitled will be limited accordingly. Based on our reasonable interpretation of legal requirements, without prior notice, we may limit the Rewards to which you will be entitled.
If, at any time, for legal or other reasons, a BitcoinzTech Account is suspended or frozen by Gear Pick, Loaned Digital Assets connected to such BitcoinzTech Account shall not be eligible to earn Rewards.
11. Consent to Gear Pick’ Use of Digital Assets
In consideration for the Rewards payable to you on your BitcoinzTech Account and the use of our Services, you grant Gear Pick, subject to applicable law and for the duration of the period during which the Digital Assets are loaned to us through your BitcoinzTech Account, all right and title to such Digital Assets, including ownership rights, and the right, without further notice to you, to hold such Digital Assets in Gear Pick’ own Virtual Wallet or elsewhere, and to pledge, re-pledge, hypothecate, rehypothecate, sell, lend, or otherwise transfer or use any amount of such Digital Assets, separately or together with other property, with all attendant rights of ownership, and for any period of time, and without retaining in Gear Pick’ possession and/or control a like amount of Digital Assets or any other monies or assets, and to use or invest such Digital Assets in Gear Pick’ full discretion. You acknowledge that with respect to Digital Assets used by Gear Pick pursuant to this paragraph:
i. You will not be able to exercise rights of ownership;
ii. Gear Pick may receive compensation in connection with lending or otherwise using Digital Assets in its business to which you have no claim or entitlement; and
iii. In the event that Gear Pick becomes bankrupt, enters liquidation or is otherwise unable to repay its obligations, you may not be able to recover or regain ownership of such Digital Assets, and other than your rights as a creditor of Gear Pick under any applicable laws, you may not have any legal remedies or rights in connection with Gear Pick’ obligations to you.
12. Hard Forks
Any Blockchain may undergo software updates from time to time, which will result in a permanent divergence in the Blockchain (a “Hard Fork”). The result is such Blockchain will split into two separate and distinct Blockchains, and any Digital Asset on that original Blockchain may entitle its holders to a new type of Digital Asset (the “New Currency”). Due to the administrative complexity of being the repository for a hard-forked Digital Asset, the support of any New Currency in your BitcoinzTech Account is solely at the discretion of Gear Pick. If we do not make a public announcement confirming our support of a New Currency ahead of an anticipated Hard Fork, we will not support the New Currency and such New Currency will be an unsupported currency (“Unsupported Currencies”), in which case all BitcoinzTech Accounts will be denominated in the legacy Digital Asset and all Rewards will accrue and be payable in the legacy Digital Asset. You agree that Gear Pick assumes no responsibility whatsoever with respect to those Unsupported Currencies and you will not be able to recover the Unsupported Currencies from Gear Pick. Gear Pick assumes absolutely no responsibility whatsoever with respect to Unsupported Currencies.
In the event that a Hard Fork achieves the required consensus, it is possible that we will only support the New Currency and will discontinue our support of the legacy Digital Asset. In the event of a Hard Fork that entitles you to a New Currency, you are advised to withdraw the applicable Digital Assets from your BitcoinzTech Account prior to the date of the Hard Fork. Gear Pick is not obligated in any way to monitor or maintain balances of New Currency issued to holders of the applicable Digital Assets upon a Hard Fork, or to credit you for the value of such New Currency. In the event you wish to receive New Currency issued upon a Hard Fork, you are advised to withdraw the applicable Digital Assets from your BitcoinzTech Account prior to the date of the Hard Fork. All determinations regarding Hard Forks shall be made by Gear Pick in its sole and absolute discretion and in accordance with applicable law.
Within Gear Pick’ platform, you will be able to see a record of the transactions related to your use of the Services which you may wish to use for the purposes of making any required tax filings or payments. It is your responsibility to determine what, if any, taxes apply to your use of the Services, and to collect, report, and remit the correct tax to the appropriate tax authority. We may deduct or make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether and which taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction or in connection with your BitcoinzTech Account. You are responsible for complying with applicable law. You agree that Gear Pick is not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes arising from your use of the Services.
14. Service Activity Statements
We do not generate periodic statements showing the activity conducted through your use of the Services. You must examine records and notify us of any unauthorized use of your BitcoinzTech Account or credentials, or any error or irregularity with respect to the records of your use of the Services, within fourteen (14) calendar days after the error occurs. If notice is not received within the fourteen (14) calendar-day period, you will not be able to raise any further claim in this respect.
14. Conversion Rates
Any conversion between a Digital Asset and another Digital Asset or Fiat currency shall be made by us in accordance with the rates and prices applicable at the actual time of conversion. Applicable rates are indexed to those used by industry-leading platforms, as we may choose to use from time to time, in our sole discretion. We currently use rates provided by CMC Markets, Coinpaprika, and our own rates as determined by our liquidity providers. We may change these rate sources at any time and without giving notice or updating these Terms, and you shall not have any claims regarding our choice of rate sources or rates used by Gear Pick or made available by any third party.
15. Closing a BitcoinzTech Account
A. Gear Pick’ Right to BitcoinzTech Account Closure
We have the right to suspend, freeze or close your BitcoinzTech Account at any time for any reason without advance notice, including by blocking your access to the Account or the Services. If your BitcoinzTech Account has a balance when we close it, we will repay and return the remaining Digital Assets to you, including accrued Rewards earned until the close date, less any applicable Obligations, withholding tax and other applicable deductions, unless prohibited by applicable law. In the event of irregular activity, we may hold assets until we close your BitcoinzTech Account. Any Digital Assets that Gear Pick returns to you will be sent to the designated withdrawal addresses in your user profile on the Gear Pick platform for each respective Digital Asset you hold. BitcoinzTech Accounts are not transferable or assignable in whole or in part.
B. Your Right to Close Your BitcoinzTech Account
If you want to terminate your Account with Gear Pick, you may do so by notifying Gear Pick at email@example.com . Once your BitcoinzTech Account is closed, you agree: (a) to continue to be bound by these Terms (b) to immediately stop using the Services, (c) that we reserve the right (but have no obligation) to delete all of your information and BitcoinzTech Account data stored on our servers, and (d) that we shall not be liable to you or any third party for termination of access to the Services or for deletion of your information or BitcoinzTech Account data. You acknowledge that any legal obligations you may have under any other agreement with Gear Pick or its Affiliates will not be affected in any way by the termination of these Terms and any such other agreement between you and Gear Pick will continue to be in effect in accordance with its terms.
16. Liability for Unauthorized Transfers from Your BitcoinzTech Account
If you believe that your BitcoinzTech Account has been used by an unauthorized party, or if your Service Activity Statements reflect activity or transactions that you did not conduct or authorize, you must notify us IMMEDIATELY via email to firstname.lastname@example.org .
YOU ARE SOLELY RESPONSIBLE FOR MAINTAINING THE SECURITY AND CONFIDENTIALITY OF YOUR LOGIN DATA, AND YOU ACCEPT ALL RISKS OF UNAUTHORIZED ACCESS AND USE OF YOUR BITCOINZ TECH ACCOUNT.
17. Disclosure of BitcoinzTech Account Information
We may disclose information to third parties about you, your BitcoinzTech Account, or the transactions you make:
i. Where it is necessary for the provision of our Services under these Terms;
ii. In order to verify the existence and condition of your BitcoinzTech Account for a third party, such as a referral partner;
iii. For the purpose of conducting our AML and KYC checks and compliance with applicable laws;
iv. If you give us written authorization;
v. In order to comply with any request or order by any government agency or competent court; or
18. Conflict/Disputes Involving Your BitcoinzTech Account
We are not liable to you for errors that may result in a financial loss to you. We may take any action that is authorized or permitted by these Terms or applicable laws without liability to you, even if such action causes you to incur fees, expenses or damages. If third parties make claims on your BitcoinzTech Account, or if we receive conflicting instructions from you, or if we become involved in or concerned about a dispute between you and any third party, we reserve the right to react in ways that we believe in good faith to be appropriate, including by closing, suspending or freezing your BitcoinzTech Account, delivering the Digital Assets available therein to you or to any third party, or interpleading assets to court, all as we reasonably deem appropriate under the circumstances. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge or deduct them directly from your BitcoinzTech Account balance.
We are not responsible for delays or losses incurred as a result of an error in the initiation of any transaction and have no obligation to assist in the remediation of such transactions. By initiating any transfer or using Gear Pick’ Services in any way, you attest that you are transacting in Digital Asset which conforms to the particular Virtual Wallet into which assets are directed. For example, if you select an Ethereum Virtual Wallet Address to receive assets, you shall be solely responsible to assure that you are initiating a transfer of Ethereum alone, and not any other currency such as Bitcoin or Ethereum Classic. Gear Pick incurs no obligation whatsoever with regard to Digital Assets sent to an incompatible Virtual Wallet Address. Erroneously transmitted assets will be lost. We recommend users send a small amount of Digital Asset as a test prior to initiating a transfer of a significant amount of Digital Assets.
We reserve the right to limit access to your BitcoinzTech Account, which can include temporarily or permanently removing your BitcoinzTech Account access via the internet, and/or restricting your BitcoinzTech Account, and/or closing your BitcoinzTech Account without prior notice to you (unless prior notice is required by law), and we shall have no liability for such actions. In addition, Gear Pick reserves the right to withhold or delay the transmission of assets to you if you fail to comply with these Terms. Our total aggregate liability to you for any claim is limited to the face value of the applicable item or transaction, or the actual value of any assets not properly credited or debited by us.
19. Legal Process Affecting BitcoinzTech Account
If any legal action, such as an attachment, garnishment, levy, seizure, third party claim or enforcement action by any competent authority in any jurisdiction (“Legal Process”) is brought against or in connection with your BitcoinzTech Account, we may refuse to permit (or may limit) withdrawals or transfers from your BitcoinzTech Account until the Legal Process is satisfied or dismissed. Regardless of the terms of such Legal Process, we have first claim to any and all assets in your BitcoinzTech Account. We will not contest any Legal Process on your behalf, and we may take actions to comply with Legal Process without liability to you, provided that we reasonably believe any such action is appropriate under the circumstances. If we incur any expenses in connection with any Legal Process, including without limitation reasonable attorneys’ fees, we may charge such expenses and fees to any of your BitcoinzTech Accounts without prior notice to you, or we may bill you directly for such expenses and fees. Any garnishment or levy against your BitcoinzTech Account is subject to our right of setoff and security interest.
20. Indemnification and Limitation of Liability; Legal Fees and Costs for Lawsuits
You agree to indemnify and hold harmless Gear Pick and its Affiliates, and their respective employees, managers, officers, directors, partners and shareholders from any losses, damages, suits and expenses, of whatever kind, including reasonable legal fees, that we incur in connection with or arising out of your access to or use of the Services, or our activities in connection with such Services, and for your breach of these Terms or violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by you or any person acting on your behalf while using your BitcoinzTech Account, regardless of whether the specific use was expressly authorized by you. You agree to comply with all applicable laws, regulations, or rules, and to not use your BitcoinzTech Account or the Services for any transaction or activity that is illegal or violates applicable laws, regulations or rules. Please note, your agreement to comply includes any and all applicable laws and regulations as of your place of residency, citizenship, business, locality and any law applicable to you.
We are not liable to you for claims, costs, losses or damages caused by an event that is beyond our reasonable control (e.g. the acts or omissions of third parties, natural disaster, emergency conditions, government action, equipment or communications malfunction). We are not liable for special, incidental, exemplary, punitive or consequential losses or damages of any kind. Except for any setoff permitted by applicable law, any obligations of ours may be satisfied solely from the assets of Gear Pick. Without limiting the generality of the foregoing, in no event shall you have any recourse, whether by setoff or otherwise, with respect to our obligations, to or against any assets of any person or entity other than Gear Pick, including, without limitation, any member, shareholder, Affiliate, investor, employee, officer, director, agent or advisor of Gear Pick. For the avoidance of doubt, the foregoing shall not limit any setoff permitted by applicable law.
21. Disclaimer of Warranty
THE GEAR PICK SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS WITHOUT ANY WARRANTY UNDER THESE TERMS AND TO THE EXTENT ALLOWED BY APPLICABLE LAW ALL EXPRESS OR IMPLIED CONDITIONS, REPRESENTATIONS, AND WARRANTIES INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTIES OR CONDITIONS OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, SATISFACTORY QUALITY, OR ARISING FROM A COURSE OF DEALING, USAGE, OR TRADE PRACTICE, OR WARRANTY OF NON-INFRINGEMENT ARE DISCLAIMED. IN NO EVENT SHALL GEAR PICK, ITS AFFILIATES AND SERVICE PROVIDERS, OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES OR REPRESENTATIVES, BE LIABLE (A) FOR ANY AMOUNT GREATER THAN THE VALUE OF THE BALANCE OF YOUR BITCOINZ TECH ACCOUNT(S) OR (B) FOR ANY LOST PROFITS, DIMINUTION IN VALUE OR BUSINESS OPPORTUNITY, ANY LOSS, DAMAGE, CORRUPTION OR BREACH OF DATA OR ANY OTHER INTANGIBLE PROPERTY OR ANY SPECIAL, INCIDENTAL, INDIRECT, INTANGIBLE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED IN CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, ARISING OUT OF OR IN CONNECTION WITH AUTHORIZED OR UNAUTHORIZED USE OF THE GEAR PICK SERVICES OR THE BITCOINZ TECH ACCOUNT, OR THESE TERMS, EVEN IF AN AUTHORIZED REPRESENTATIVE OF GEAR PICK HAS BEEN ADVISED OF OR KNEW OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
GEAR PICK MAKES NO REPRESENTATIONS ABOUT THE ACCURACY, ORDER, TIMELINESS OR COMPLETENESS OF HISTORICAL OR CURRENT ELIGIBLE DIGITAL ASSETS PRICE DATA AVAILABLE THROUGH THE GEAR PICK SERVICES. GEAR PICK WILL MAKE REASONABLE EFFORTS TO ENSURE THAT REQUESTS FOR TRANSACTIONS ARE PROCESSED IN A TIMELY MANNER BUT GEAR PICK MAKES NO REPRESENTATIONS OR WARRANTIES REGARDING THE AMOUNT OF TIME NEEDED TO COMPLETE PROCESSING (WHICH IS DEPENDENT UPON MANY FACTORS, INCLUDING THOSE OUTSIDE OF OUR CONTROL), AND GEAR PICK SHALL NOT BE LIABLE FOR ANY LOSSES OR DAMAGES WHICH YOU MAY INCUR AS A RESULT OF ANY DELAY IN THE PROVISION OF THE SERVICES.
22. Disputes, Binding Individual Arbitration, and Class Actions and Class Arbitrations Waiver
A. Disputes. The terms of this Section shall apply to all Disputes between you and Gear Pick. For the purposes of this Section, “Dispute” shall mean any dispute, claim, or action between you and Gear Pick arising under or relating to your BitcoinzTech Account, the BitcoinzTech platform, these Terms, or any other transaction involving you and Gear Pick, whether in contract, warranty, misrepresentation, fraud, tort, intentional tort, statute, regulation, ordinance, or any other legal or equitable basis, and shall be interpreted to be given the broadest meaning allowable under law.
B. Binding Arbitration: You and Gear Pick further agree: (i) to arbitrate all Disputes between the parties pursuant to the provisions in these Terms; (ii) these Terms memorialize a transaction in interstate commerce; (iii) the Federal Arbitration Act (9 U.S.C. § 1, et seq.) governs the interpretation and enforcement of this Section; and (iv) this Section shall survive termination of these Terms. ARBITRATION MEANS THAT YOU WAIVE YOUR RIGHT TO A JUDGE OR JURY IN A COURT PROCEEDING AND YOUR GROUNDS FOR APPEAL ARE LIMITED. The arbitrator may award you the same damages and relief as a court sitting in proper jurisdiction could, and may award declaratory or injunctive relief. In addition, in some instances, the costs of arbitration could exceed the costs of litigation and the right to discovery may be more limited in arbitration than in court. The decision of the arbitrator shall be final and enforceable by any court with jurisdiction over the parties.
E. WAIVER OF CLASS ACTIONS AND CLASS ARBITRATIONS. YOU AND GEAR PICK AGREE THAT EACH PARTY MAY BRING DISPUTES AGAINST THE OTHER PARTY ONLY IN AN INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS OR REPRESENTATIVE PROCEEDING, INCLUDING WITHOUT LIMITATION FEDERAL OR STATE CLASS ACTIONS, OR CLASS ARBITRATIONS. ACCORDINGLY, UNDER THE ARBITRATION PROCEDURES OUTLINED IN THIS SECTION, AN ARBITRATOR SHALL NOT COMBINE OR CONSOLIDATE MORE THAN ONE PARTY’S CLAIMS WITHOUT THE WRITTEN CONSENT OF ALL AFFECTED PARTIES TO AN ARBITRATION PROCEEDING. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, YOU AND GEAR PICK AGREE THAT NO DISPUTE SHALL PROCEED BY WAY OF CLASS ARBITRATION WITHOUT THE WRITTEN CONSENT OF ALL AFFECTED PARTIES.
23. Our Ownership of the Services and Gear Pick’ Intellectual Property (IP)
You agree and acknowledge that we own all right, title and interest to and in the Services, the associated software, technology tools and content, the BitcoinzTech website, any logos, identifying marks, images, illustrations, designs, icons, photographs, videos, text and other written and multimedia materials, the content displayed on the website or platform, and other materials produced by and related to Gear Pick (collectively, the “BitcoinzTech IP”). You acknowledge and agree that no proprietary rights are being transferred to you in such materials or information, and that you have no intention of using such materials or information inappropriately or to in any way harm Gear Pick or any of its affiliates, directors, officers or employees. You shall not prepare any derivative work based on the BitcoinzTech IP, nor shall you translate, reverse engineer, decompile or disassemble the BitcoinzTech IP.
We may record and monitor our telephone conversations with you and your electronic communications with us (chat, email, and other forms of electronic exchange). Unless the law requires otherwise, you consent in advance to such recording and monitoring and we do not need to remind you of these activities. You must promptly notify us of any change in your contact information, including residential post and email address. Failure to notify us in a timely fashion may result in delay or non-receipt of notices or correspondence.
We may delay the exercise of any rights we have under these Terms, and any such delay shall not result in a waiver, relinquishment or modification of any of our rights. If we delay in any exercise of our rights, or if notwithstanding the foregoing Gear Pick somehow is deemed to have waived any of our rights, you are still obligated to pay us Obligations you may owe us, remove any violation of these Terms and/or otherwise follow our instructions (as applicable). Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our other or subsequent rights in any way.
26. Changes in Terms
Please be aware that the terms and conditions governing the Services can change over time. We reserve the right to discontinue or make changes to any of the Services. We may change these Terms, and we may add to or delete from these Terms, and the updated version will supersede all prior versions. We will provide notice of changes, additions, and deletions, as required by law. If we have provided advance notice and you do not agree with a change, you may close your BitcoinzTech Account(s) and demand repayment of outstanding loans before the effective date of the change, which shall be your sole remedy. The continued maintenance of your BitcoinzTech Account following the effective date of any change will constitute your acceptance of such change and subject your BitcoinzTech Account to the modified Terms.
These Terms, or any of the rights and/or obligations provided hereunder, may not be assigned or otherwise transferred by you to any other person or Entity, whether by operation of law or otherwise, without Gear Pick’ express written consent, and any attempted assignment in violation of this prohibition shall be void ab initio and of no effect. Gear Pick may assign or transfer these Terms and/or any or all of its rights and/or obligations hereunder at any time to any Affiliate of Gear Pick, with or without providing you with prior notice of the same. Gear Pick may assign or transfer these Terms and/or any or all of its rights and/or obligations hereunder at any time to any third party by providing prior notice. Any permitted assignment or transfer of or under these Terms shall be binding upon, and inure to the benefit of the successors, executors, heirs, representatives, administrators and permitted assigns of the parties hereto.
28. Governing Law and Venue
For any dispute arising out of, or related to, your BitcoinzTech Account or relationship with Gear Pick, Gear Pick may bring equitable relief or collections actions in any applicable jurisdiction.
29. Force Majeure
We will not be liable for delays in processing or other non-performance caused by such events as fires, telecommunications, utility, or power failures, equipment failures, labor strife, riots, war, nonperformance of our vendors or suppliers, acts of God, pandemic or epidemic events, or other causes over which we have no reasonable control.
The provisions of Sections 16 (Taxes), 25 (Indemnification), 26 (Disclaimer of Warranty), 27 (Disputes, Binding Individual Arbitration, and Class Actions and Class Arbitrations Waiver), 28 (Our Ownership of the Services and BitcoinzTech IP), 30 (Waiver) and 33 (Governing Law and Venue) shall survive the termination of these Terms.