If you do not fully agree to these Terms, you must not use the Website, any other mobile applications or API.
The services operated by Instacoins permits users to purchase the Virtual Currency or Virtual Asset known as Bitcoin (“Services”). Dependent upon your nationality and country of residence you may not be able to use this Website.
In these Terms, the word “Instacoins”, “we”, “us”, or “our” refers to Instacoins Estonia OÜ. The terms Virtual Currency/ies and Virtual Asset/s are used interchangeably.
Changes to These Terms
You can revise your personal details at any time. To revise any personal details which cannot be edited on the Website, please contact us.
In order to be qualified to register an account with Instacoins you must be a minimum of eighteen (18) years old. We reserve the right to unilaterally decide whether to register an account and/or whether to provide Services to any persons and shall have no obligation to justify or outline the reasons for any rejection thereof.
To be eligible to register and gain access to Instacoins Services, you must adhere to rules regarding the country in which you reside.
Residents and resident aliens of unsupported/restricted countries are not eligible to register to use Instacoins Services whilst a resident in the unsupported/restricted country and/or if they are for the short term or permanently a resident in an accessible country. Notwithstanding if their earnings are not subject to the taxation of an unsupported/restricted country.
Instacoins reserves the right to ask for additional proof of residency from you if the information provided by you indicates that you are in or are from one of the Restricted Territories. It remains your obligation to abide by your own local, national or state laws that relate to our Services and the utilisation of Virtual Currency in advance of registering with us.
Instacoins reserves the right to suspend or lock up an account or suspend your use of Instacoins Services while you are located in any location where Virtual Currency is not allowed.
The availability of the Instacoins Website does not represent any offer, solicitation or invite by us for the utilization of our Services in any area where such actions are prohibited. By no means will we be held liable for any breach of state or sovereign law that may come about as a result of your usage of the Website or Services.
By opening an account to use our Services, you exclusively represent and guarantee that you:
- Are a resident in a location that allows the use and exchange of Virtual Currency or Virtual Assets;
- Are not using our Website or Services on the part of any third party;
- You agree not to transfer Bitcoin to or from your Instacoins account to any wallet owned by an individual or entity on any international sanctions listing(s).
Your Instacoins Account
So as to access our Services, you are going to be required to complete the account registration form which will call for the supply of, but not limited to, full name and surname, a legitimate present-day residential address, a legitimate email address and mobile phone number. You must complete the Registration Form entirely and supply correct details and information.
Instacoins reserve the right to decline any application. Any incorrect information supplied by you may result in your access to the Website being terminated.
Instacoins only allows users to create one account. Any attempt to generate a second and/or a duplicate account may lead to the termination of your account.
Should you be experiencing any problems accessing your Instacoins account, please contact us.
After the successful completion of the registration process, you will be allowed to use our Services, but may be immediately required to complete our Account Verification process.
Please check with your local jurisdiction if you are permitted to open an account with Instacoins.
As part of the account verification process, we will request that you provide us with documentation adequate to comply with local anti-money laundering laws and any other such regulations, guidelines and central policies that we are bound by or in our discretion deem to be necessary.
Instacoins retains the right to request verification documents at any time. Failing to provide the required documents may postpone or prevent the use of our Services.
Following submission of documents during the account verification process referenced above, we may have to verify the documentation presented to us and to do so, we may send copies of the documentation and information including, but not limited to your name, residential address and date of birth to a third-party to validate these details electronically.
Any false information supplied by you will lead to your use or access to the Website being terminated. Instacoins reserves the right to decline any application without offering a reason.
By agreeing to these Terms, you accept and agree that the processing of any such information may be subject to delays, you permit Instacoins and/or other select third parties to carry out any inquiries we deem to be necessary or necessary to confirm your identity and/or to fulfill our legal obligations, and to take any measures legally required of us or we consider to be necessary actions as a result of the findings of any such examination and review.
If you select or are provided with a password or any other item of information as a component of our security processes, you must handle such information as private. Do not disclose it to any other party. By applying to use our Website and Services, you agree not to divulge your password, account details, or any information pertaining to your account to any third-party.
You are liable for all transactions on your account where the correct security details have been provided. Should another person access your account, you are completely responsible for all their actions, regardless of whether their access was authorised by you. Further, you hereby indemnify us and hold us harmless against any and all costs, claims, expenses and damages stemming from the use or access of your account by any third-party.
Instacoins assumes no responsibility for any losses that you may incur due to any breach of your account login credentials as no fault of Instacoins and/ or failing to follow or take action following any notices or alerts that we may send to you electronically.
Once your account has been verified, we highly recommend that you activate the two-factor authentication (“2FA”).
Instacoins processes customer transactions pursuant to the directions received from its users. You are solely responsible for the validity and verification of all transaction details, including (but not limited to) the currency, the amount, the type of payment method and the destination virtual currency wallet address prior to submission of any such instructions to Instacoins.
Supported Virtual Currencies
Instacoins will make every effort to clearly show our supported Virtual Currencies. Except in cases where we officially announce in a public statement, on our Website or via email, Instacoins does not allow or support sidechains, coloured coins, Alt-coins, Meta-coins, derivative coins or tokens which have interaction with Virtual Currencies which Instacoins supports.
Instacoins exclusively retains absolutely no command, responsibility or liability pertaining to the legality, security, delivery and other such assurance as an end result of the involvement with any such unsupported Virtual Currencies or process. If you are uncertain of which Virtual Currencies Instacoins supports, contact us.
Instacoins supports Virtual Currencies, however, is not responsible for that Virtual Currency’s Blockchain; we have no control over what happens on any Blockchain, our role is limited in sending the Bitcoin on its Blockchain. Instacoins makes no representations that it regulates or owns any component of the fundamental application that controls the operations of the Virtual Currencies we support.
Instacoins does not charge an explicit fee but uses its own Exchange Rate. The Exchange Rate is always shown in advance of the execution of each purchase order. You acknowledge your bank may impose additional fees depending on the method you use to fund such purchase, and that Instacoins is not responsible for any other charges other than the afore-mentioned Exchange Rate.
Instacoins will always do its best to process every transaction as quickly as it can. However, you hereby accept and acknowledge that there could possibly be delays in this Service and recognize that Instacoins reserves the right to terminate any purchase at our sole discretion.
Instacoins will not complete an exchange if the amount transacted is lower than the limits described in our FAQs.
Instacoins reserves the right to modify its Exchange Rates without notice but will always display an updated exchange rate prior to every purchase.
Instacoins will always make every effort to maintain its Exchange Services, however, we do not guarantee the supply of our Service.
A purchase of Bitcoin from Instacoins can only be concluded after completing the Account Verification process. In cases where any data pertinent to such Account Verification process is not provided, or where such data is inaccurate, or the Account Verification process is otherwise incomplete, Instacoins reserves the right to recalculate the Exchange Rate and deliver the newly-calculated amount of Bitcoin.
The trading of goods and products, real or virtual, as well as virtual currencies, involves significant risks. Prices can fluctuate on any given day. Due to such price fluctuations, you may increase or lose value in your assets at any given moment. Any currency, virtual or not, may be subject to large or sudden shifts in value and may even become worthless. There is an inherent risk that losses will occur as a result of buying, selling or trading anything on a market. You should be aware that the risk of loss in trading or holding Virtual Currencies can be substantial.
Virtual Currency trading also has special risks not generally shared with official currencies or goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or by commodities such as gold or silver, Virtual Currency is a unique kind of currency, backed by technology and trust. There is no central bank or government regulator that can take corrective measures to protect the value of the Virtual Currency in a crisis, issue more currency, or balance the price fluctuations.
Instead, Virtual Currency is an autonomous and largely unregulated worldwide system of currency firms and individuals. Traders and market participants put their trust in a Virtual, decentralized and partially anonymous system that relies on peer-to-peer networking and cryptography to maintain its integrity. Thus, the value of Virtual Currency may be derived from the continued willingness of market participants to exchange Fiat Currency for Virtual Currency, which may result in the potential for permanent and total loss of value of a particular Virtual Currency should the market for that Virtual Currency disappear.
Virtual Currency trading may be susceptible to irrational (or rational) bubbles or loss of confidence, which could collapse relative to demand and supply. For example, confidence in Virtual Currency might collapse as a result of unexpected changes imposed by software developers or others, a government crackdown, the creation of superior competing alternative currencies, or a deflationary or inflationary spiral. Confidence might also collapse because of technical problems, for example, if the anonymity of the system is compromised, if money is lost or stolen, or if hackers or governments are able to prevent transactions from settling.
Transactions in the Virtual Currency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable.
Due to the nature of Virtual Currency, any technological difficulties experienced by the Company could prevent the access or use of a Member’s Virtual Currency.
The Company uses banking providers in order to receive your funds and to make payments. Our banking providers do not transfer Virtual Currency, exchange Virtual Currency, or provide any services in connection with Virtual Currency.
Markets for Virtual Currency have varying degrees of liquidity. Some are quite liquid while others may be thinner or illiquid. The Company does not guarantee any profit from trading or any other activity associated with the Website.
IN LIGHT OF THE ABOVEMENTIONED RISKS, WHICH ARE NOT A COMPREHENSIVE LIST, YOU SHOULD CAREFULLY CONSIDER IF HOLDING VIRTUAL CURRENCY IS SUITABLE FOR YOU DEPENDING ON YOUR FINANCIAL CIRCUMSTANCES.
Reversals and Cancellations
Instacoins reserves the right to reject any purchases or sale of Virtual Currency if we suspect the transaction involves or could possibly be involved in criminal activity, is a breach of our prohibited activities rules or any known legal, governmental or regulatory laws or orders.
In the event that Instacoins cancels a transaction, we are not required to reprocess your exchange on exactly the same terms as the terminated purchase.
Deposits, Withdrawals and Refunds
Fees may apply to deposits sent to your own wallet. All fees will be outlined in advance of any transaction and are available elsewhere on our Website. Contact us should you have any questions regarding the cost of a transaction.
Instacoins is under no obligation to offer refunds (particularly where Bitcoin has already been transferred) for any transaction or transacted funds. On the occasion that Instacoins does issue a refund, your monies will be credited back to your respective account within five to ten (5-10) business days. Kindly note that this may be subject to other delays by your corresponding bank. Instacoins reserves the right to charge a related refund or processing fee on such transactions. Please see our Refund and Cancellation Policy for more details.
Payment via Bank Transfer
The company has a set minimum transaction volume or size threshold. For all transactions funded via bank wire (or for any other method where Instacoins receives fiat currency in advance from its clients), should the amount of fiat currency received be less than such minimum volume or minimum size threshold, Instacoins will not process the transaction and will not exchange such fiat currency into the equivalent in Bitcoin. Please consult our FAQs for more information on the minimums stipulated for each currency.
In order for Instacoins to process such transaction, you will be required to send additional Fiat currency to reach the minimum transaction size. Additionally, you will have to pay an administrative fee of twenty-five Euro/Pounds Sterling/US Dollars (EUR/GBP/USD 25), or the equivalent of twenty-five Euro (EUR 25) in any other currency. Should you choose to request the Fiat currency back, we will levy the same additional fee of twenty-five Euro/Pounds Sterling/US Dollars (EUR/GBP/USD 25), or the equivalent of twenty-five Euro (EUR 25) in any other currency as an administrative fee.
Funding your account via bank transfer from third parties should be avoided. In the event we receive funds on your behalf from third parties we reserve the right to return the monies at the sender’s expense, and with no explanation, motivation or communication.
Where you send Fiat funds via Skrill, Instacoins will receive such funds even in instances where the name and/or email of your Skrill account does not match the name and/or email of your Instacoins account.
When this is true, Instacoins will not be able to process the transaction since it would be classified as a third-party payment. In this case, Instacoins will send back the Fiat funds and apply a processing fee which shall be deducted from the amount being sent back. The fee applied will be 5.5% of the transaction value in fiat. Foreign exchange charges may also apply.
Payment Services Partners
Assuming that you agree to and for the length of your use, abide by these Terms, Instacoins provides to you a personal, non-exclusive, non-transferable, non-licensable and restricted right to enter and use Website content and Services for authorized purposes only.
Instacoins are the owners of all intellectual property rights in our Website, including the written materials published on it. These intellectual property rights include, without constraint, copyright, trademarks, the root software, the design, visuals, layout, Website structure, data collection rights, design rights and domain names. Such elements are protected by copyright laws and treaties and as such, all rights are reserved.
Any trademarks used on the Website are owned by Instacoins and its licensors. Trademarks should not be replicated, reproduced, altered, republished, uploaded, published, passed on, scraped, compiled or sent out in any form or by any means. The use of any Instacoins trademarks without our express written consent is strictly forbidden you may not replicate, imitate or use them without permission.
Access and Website Accuracy
Access to the Instacoins Website is offered free of charge. All services are offered without warranty, either express or implied. Instacoins makes no guarantees whatsoever that our Website will always be available without interruption. We make no guarantees whatsoever that any defects will be corrected, or that the Website/Service that we make available are free of viruses and glitches or represent the complete functionality of the Website, or as to the accuracy and reliability of any data acquired by you by way of the Website.
Accessibility to our Website is authorized on a temporary basis. We may suspend, withdraw, eliminate, or modify all or any part of our Website without any advance notice. Instacoins will not be held liable if for any reason our Website is inaccessible at any time or for any time period.
We will work to supply you with the Services as quickly as possible but there is no guarantee that access to the Website will not be disrupted, or that there will be no problems, glitches, omissions or loss of information.
You are responsible for taking all measures required for you to gain access to our Website.
You agree to use the Website only for your own personal (non-commercial) use only and are not allowed to provide access to or recreate the Website in whole or part in any form without our express written consent.
By accepting these Terms, you accept and acknowledge that you should verify all details from the Website before relying upon it. Instacoins maintains no liability or responsibility for choices and courses of action centered solely or partly on details from the Website or information, material and services of a third-party which is connected or is accessible from our Website.
GDPR Compliance Statement
Instacoins respects and complies with the EU General Data Protection Regulations (GDPR). Some of the key ways we comply with these regulations are:
We explain what you’re consenting to clearly and without ‘legalese’, and ask that you explicitly consent to contact from us.
In the event of a breach we will notify affected users within 72 hours of first having become aware of the breach.
Right to Access
Users can request confirmation as to whether or not personal data concerning them is being processed, where and for what purpose. Further, we shall provide a copy of the personal data, free of charge, in an electronic format.
Right to be Forgotten
Once we have compared your (the subjects’) rights to “the public interest in the availability of the data”, we may delete your personal data where you have requested this. We are however required, by law, to store your data for five (5) years.
We allow you to receive the personal data concerning you, which we will provide in a ‘commonly used and machine readable format’ and you have the right to transmit that data to another ‘controller’.
Privacy by Design
We implement appropriate technical and organisational measures, in an effective way, in order to meet the requirements of this Regulation and protect the rights of data subjects’. We hold and process only the data absolutely necessary for the completion of our duties (data minimisation), as well as limiting the access to personal data to those needing to act out the processing.
Consent to the Recording of Phone Calls
You agree and consent to the electronic recording of any telephone conversations with Instacoins, without the use of a warning message and the use and admissibility of any such recording as evidence in any dispute which may arise between yourself, or a party representing yourself and Instacoins.
In accordance with our normal record-keeping practices we may dispose of any recording or transcript which we have made of any telephone conversation between you and Instacoins.
Prohibited and/or Illegal Activity
As a condition of your use of Instacoins Services, you agree that you will not participate in any prohibited and/or illegal activities.
We retain the right to instantly and without notice, lock up funds, block all transactions and to terminate or suspend your account and any such other restricted action that we in our sole discretion consider to be reasonably necessary, if we deduce, in our sole discernment, that your account is affiliated with any prohibited and/or illegal activity.
The use of the Instacoins Service may be subject to minimum and maximum purchase limitations.
Your transaction limits may vary depending on, but not limited to your payment method and your account verification status. To check your limits, please consult the appropriate tab on your Instacoins profile.
Instacoins retains the right to modify any transaction limits as we consider necessary in our sole discretion. If you would like to raise your limits, contact us and ask for an account evaluation.
Instacoins may, in our sole discretion decline any request to increase limits and may lower limits notwithstanding completion of the account verification process.
Account Suspension, Deactivation and Cancellation
- Instacoins may suspend, deactivate and/or cancel your account with us in the event;
- We are required to do so by laws, court order, executed regulatory or governmental order;
- Instacoins in our sole discretion suspects that your account is being used to participate in any prohibited and/or illegal activity;
Should you have any questions where you wish to file a formal complaint, please contact us via our Contact Us page or via our Live Chat.
Limitation and Indemnification
Instacoins makes no representations or guarantees pertaining to the time-frame required to process any purchases which are reliant upon external processors such as banks or external Blockchains (virtual networks) that are not within our control. Instacoins retains no responsibility or liability for any such operational fault and failing, including, but not limited to substantial delays and the total failure of any such transaction which is the outcome of events not within our control.
Sales, Mergers and Restructuring
In the event that Instacoins is purchased by or merges with a third-party, we expressly reserve the right to allocate all or parts of the pertinent information we have obtained from you as part of any such change of business control.
By accepting these Terms, you recognize, accept and consent that in any claim, be it direct, consequential, contractual, negligent or any such claim stemming from the use of Instacoins’ Services, your damages are restricted to the total value of the funds at the time of the exchange. You may not recover estimated, consequential or incidental losses.
Instacoins makes no representations or guarantees pertaining to the period required to process any purchases that are reliant upon external processors (such as banks) that are not within our control. Instacoins retains no responsibility or liability for any such operational fault and failing, including, but not limited to substantial delays and the total failure of any such transaction that is an outcome of events beyond our control.
To the maximum extent permitted by law, you agree to defend, indemnify and hold harmless Instacoins, its affiliates and its respective directors, officers and employees from and against any third-party claims, actions, suits or proceedings, as well as any losses, liabilities, damages, costs and expenses (including reasonable attorney’s fees) arising out of or accruing from:
- your use of the Instacoins API or your Instacoins Account other than as expected under these Terms or in violation of thereof;
- your application that infringes any copyright, trademark, trade secret, trade dress, patent or third party right of any person or that defames any person or violates their rights of publicity or privacy; or
- your failure to secure and keep secret your password, 2FA codes, account information or API key(s).