Bitcoin Wallet Services Partner Addendum

Published and updated on May 18, 2024.

‍

This addendum (the “Addendum”), in addition to the User Agreement found in https://coins.ph/user-agreement, and all rules and policies incorporated therein by reference, shall govern your relationship with Betur, Inc., doing business as Coins.ph (“Coins.ph” or “Coins”) when creating, accessing, and using your Coins Account for Wallet Services (as defined in this Addendum).

‍

This Addendum is deemed an addition to, and incorporated into the User Agreement of Coins.ph and Terms of Service of Pouch. In case of conflict between both agreements and this Addendum, this Addendum shall govern the activities and services considered as and related to the Bitcoin Wallet Services (“Services”).

‍

DEFINITIONS

‍

In addition to the definitions in the Terms of Service, the following definitions apply:

‍

1. “Partner” refers to Pouch Philippines, Inc. or Pouch.ph, which provides a user interface that allows users to send instructions to Betur, Inc., doing business as Coins.ph Platform or Services through APIs.

2. “Partner Account” refers to a Third Party Account maintained with a Partner

3. “Partner Site” refers to the interface provided by and/or maintained by the Partner which allows access to the Coins.ph Platform through APIs.

‍

GENERAL POLICY

‍

By signing up for a Coins Account through a Partner Site (“Partner Account”), you understand and agree to abide by the Terms of Service of Pouch, as may be applicable, in relation to availment of the Services. 

‍

While Coins.ph processes instructions received from the Partner through the Coins.ph APIs, Coins.ph nevertheless solely controls and maintains the Coins.ph Platform, the Services, and Coins Accounts. The Partner is solely responsible for the maintenance of the Partner Site, and the transmittal of instructions through the Partner Site.

‍

ACCOUNT OPENING

‍

You may create a Coins Account through the Partner. You authorize Coins.ph to create a Coins Account on your behalf, under your name as verified by a Partner, based on customer account information and identification documents you have requested and authorized any of our Partners to disclose to us for the purpose of opening a Coins Account.

‍

You authorize Coins.ph to acquire information from the Partner which are required by Coins’ KYC program and procedures and to use the same to perform its obligations under this Addendum, the Coins User Agreement, Pouch’s Terms of Services, and all rules and policies incorporated therein by reference, and all applicable laws, rules, and regulations.

‍

By signing up for a Coins Account through Pouch, as a Partner, you authorize Coins.ph to share information relating to your Coins Account to the Partner through whose site your Coins Account was created.

‍

You are only entitled to open one Coins Account under your verified name and identification documents, for each Partner Site. The Partner may deactivate, suspend, or terminate your Partner Account(s), if you are in violation of, or are justifiably suspected of violating, this provision or this Addendum. The remedies of Coins shall be as provided in its User Agreement.

‍

Any Coins Account created through a Partner is separate and distinct from any existing or future Coins Accounts created through the official site of Coins.ph, the Coins.ph mobile application, or any other Partner Sites, in terms of balances.

‍

You understand and agree that not all products, features, and functionalities of your Coins Account may be made available by the Partners through the Partner Sites. 

‍

Coins.ph shall not be liable for any loss or damage that may be caused by the unavailability of a Service through the Partner Site.

‍

You agree that the Partner shall not be liable for any loss or damage that you may sustain or incur arising from, or in connection, with your use of the Coins.ph Platform. Unless the loss or damage is solely attributable to Partner’s gross negligence or wilful misconduct, Partner shall not be liable for any loss or damage sustained by you or any other person by reason of your use of the Partner Site, the risk for all are assumed by you. You agree that Coins.ph shall not be liable for any loss or damage that you may sustain or incur arising from, or in connection with, your use of the Partner Site.

‍

REPRESENTATIONS AND WARRANTIES

‍

You represent and warrant that:

‍

1. Any and all information, data, and documents that you provided, are now providing, and will provide in the future through customer account information disclosed by our Partners are true, complete, and accurate; soft copies of all documents that you uploaded, are uploading, and will upload in the future, are true, complete, and accurate copies of the originals; with the undertaking to hold Coins.ph free and harmless from any and all damage and liability arising from any untrue, incomplete, or inaccurate information, data, and documents that you may have knowingly or unknowingly provided, are now providing, and will provide in the future;

‍

2. In the event of any misinformation, misrepresentation, or failure on your part to disclose information required either by Coins.ph or the Partner, Coins.ph may avail of remedies provided under the User Agreement, while the Partner may reject your Partner Account registration, suspend, or deactivate your access to your Partner Account, and/or recommend to Coins the rejection of registration, suspension, or deactivation of your Coins Account, subject to the approval of Coins.ph;

‍

3. You shall immediately inform Coins in writing, through the Partner Site, of any changes to such information, data, and documents; and

4. You will not use, misuse, or abuse the Partner Site to circumvent the User Agreement and all rules and policies incorporated therein by reference.

‍

DISCLAIMER OF WARRANTIES

‍

Coins.ph does not warrant:

‍

1. The accuracy, adequacy, reliability, or completeness of any information and materials found on the Partner Site, and expressly disclaims liability for errors or omissions therein;

that Partner Sites are free from any virus or other malicious, destructive, or corrupting code, or program;

‍

2. Uninterrupted access to the Coins.ph Platform through the Partner Sites, or that it will be free from any errors or downtime; the timeliness, accuracy, quality, completeness, or existence of the content and information posted in the Partner Site.

‍

3. The accuracy, adequacy, reliability, or completeness of any instruction received from the Partner through the Partner Site.

‍

4. The timeliness, accuracy, quality, completeness, or existence of the content and information posted in the Partner Site.

‍

5. The accuracy, adequacy, reliability, or completeness of any instruction received from the Partner through the Partner Site.

‍

COINS.PH SERVICES

‍

Trading/Conversion

‍

You understand and agree that Coins.ph transmits quotes of conversion rates to the Partner. Coins.ph does not warrant that the Partner will accurately reflect its transmitted quotes on the Partner Site where fees and exchange rates would vary. Coins.ph shall not be responsible for any loss that may be caused by any inaccuracy in the quotes appearing on the Partner Site.

‍

You understand that Coins.ph merely processes your instructions for Orders, as received through Partners. Coins.ph shall not be responsible for any loss that may be caused by any inaccuracy, failure, or delay in the delivery of instructions from the Partner Site.

‍

Cashing-In and Cashing-Out of Funds

‍

You can transfer Fiat Currency from a verified Pouch Account, to your Coins Account, by sending an instruction to the Partner, through the Partner Site, to debit a desired amount from the Pouch Account, and credit the same amount to your Coins Account. 

‍

You can also transfer Fiat Currency, via conversion, from your Coins Account to your Pouch Account by sending an instruction to the Partner through the Partner Site, to debit a desired amount from your Coins Account, and credit the same amount to your Pouch Account.

‍

Cash-in and cash-out transactions are subject to the fees applicable to such transfers that are charged by Coins.ph or the Partners. Partners may impose their own cash-in or cash-out limit. Coins.ph bears no responsibility or liability if there was failure by the Partner, not attributable to Coins, in deducting or crediting, as may be applicable, the cash-in or cash-out amounts.

‍

Fulfillment of Orders

‍

You understand and agree that Coins.ph shall be responsible only for validating the sufficiency of the balance in your Coins Account to fulfill an Order. 

‍

Should your balance be sufficient for your Order, Coins.ph shall fulfill the Order and adjust its records of the balance in your Coins Account. 

‍

Thereafter, the Partner shall reflect the adjustment of the balance in your Coins Account, as accessed through the Partner Site. Coins.ph shall not be liable for any inaccuracy, delay, or failure to update the balance reflected in the Partner Site.

‍

STORAGE, DEPOSITS, AND WITHDRAWALS OF DIGITAL ASSETS AND FIAT CURRENCIES

‍

You may elect to use the Coins.ph Platform to store or keep your Digital Assets temporarily until you transfer it to your own designated Digital Asset wallet. The balance of Digital Assets stored in your Coins Account created through a Partner Site shall be reflected on the Partner Site. Coins shall not be liable for any inaccuracy, delay, or failure to update the balance reflected in the Partner Site.

‍

• Subject to Applicable Laws and Rules, you can receive, hold, and transfer Digital Assets to, in, and from your Coins Account to a custodial or non-custodial wallet that you designate.
  
  The Partner and Coins.ph bears no responsibility or liability for: (i) the management and security of any wallet that you designate; and (ii) the failure of any transfer of Digital Assets between your Coins Account and your designated wallet or Third Party Account. 

‍

• You are solely responsible for your use of any wallet, Third Party account or any external Digital Asset address and you represent and warrant that you will comply with the User Agreement applicable to any wallet that you use to transfer Digital Assets to or from your Coins Account, if any.

‍

• The Digital Assets that are reflected in your Coins Account balance at any time will be located at Digital Asset addresses owned by Coins.ph. Title to Digital Assets that you legally own shall at all times remain with you and shall not transfer to Coins or to the Partner. As the owner of such Digital Assets, you shall bear all risk of loss of such Digital Assets. Coins and the Partner shall have no liability for Digital Asset value fluctuations or loss.

‍

• Your Digital Assets may be held together with the Digital Assets owned by Coins.ph, the Partner, and those of other Users. Although Coins.ph maintains separate ledgers for User accounts and accounts held by Coins.ph for its own benefit, Coins.ph shall have no obligation to segregate by blockchain addresses the Digital Assets owned by you from Digital Assets owned by other Users or by Coins.ph.
  
  Coins.ph may elect to segregate them by blockchain addresses at its own discretion. You recognize and agree that Coins.ph may change internal configurations of blockchain addresses and wallet segregations, as may be necessitated by the improvement, maintenance, or development of the Coins.ph Platform.

‍

• Coins.ph stores and manages the Digital Asset private keys associated with Digital Asset addresses connected to your Coins Account, which are necessary for Digital Asset transactions to be approved.
  
  You will not have access to such private keys. Coins.ph may store such private keys and related information in a combination of online and offline storage. You acknowledge that the retrieval of information from offline storage may delay the initiation or execution of transactions through the Services.

‍

• You are solely responsible for ensuring that: (i) each transfer you initiate using the Services complies with all requirements imposed by Coins.ph, relevant third parties, and the applicable rules of the Digital Asset; (ii) the Digital Asset address to which any Digital Assets are to be transferred is properly formatted and suitable for the type of Digital Asset being transferred; and (iii) there are no errors in any of the transfer instructions you provide using the Services.
  
  The Digital Assets you attempt to transfer may be permanently lost upon your failure to comply with any of the preceding requirements and you expressly assume such risk for which you shall hold the Coins.ph and the Partner free and harmless.

‍

• You may permanently lose any Digital Assets that you attempt to transfer to your Coins Account if it is not a Coins-supported Digital Asset. Coins will not be liable if you lose Digital Assets due to any such attempted transfer or due to your transfer of Digital Assets to a Digital Asset address other than that which Coins has specified. You hereby release Coins.ph from any obligation to attempt to retrieve Digital Assets sent to an incorrect Digital Asset address.

‍

• Coins.ph makes no warranty, representation, or guarantee regarding the amount of time it may take to complete any transfer of Digital Assets. The processing and completion time for each transfer may depend on third-party actions that are beyond the control of Coins.ph, retrieval of relevant information from offline storage, confirmation of the transaction on the underlying blockchain or network, and other factors. You understand and agree that high volume or large withdrawals may not always be immediately available. Such transactions are subject to availability of funds of third-party service providers, banks, and the asset storage policy of Coins.ph, and as such, Coins.ph or any third-party service provider may require you to wait or set an appointment in order to withdraw your Digital Assets.

‍

• You acknowledge and accept the sole discretion of Coins.ph to refuse, cancel, block, or reverse any transfer request, order, or other transaction request you submit or authorize via the Services, impose limits on the amounts of deposits, withdrawals, transfers, Trades, or other transactions involving Fiat Currency or Digital Assets that you may complete on a daily or other periodic basis, or impose any other conditions or restrictions upon your use of the Services, including the authority to limit the amount of Fiat Currency and/ or Digital Assets you may transfer out of your Coins Account based on the type of your Coins Account; or to restrict withdrawals or limit or cancel trading activities if the Company reasonably suspects fraud, impaired capacity, illegal or inappropriate activity, or if Coins.ph has a reasonable basis to believe that your ownership of some or all of the Digital Assets in your Coins Account is in dispute.

‍

• You cannot create any pledge, mortgage, security, or encumbrance over any Digital Asset in your Coins Account without the express prior approval in writing of Coins.ph.

‍

• You agree to indemnify and hold harmless the Coins.ph from and against any claim, demand, lawsuit, action, proceeding, investigation, liability, damage, loss, cost, or expense, including attorneys’ fees, fines or penalties imposed by any regulatory authority arising from your designation or use of and the transfer of Digital Assets to and from your Coins Account to your wallet or an external Digital Asset address.

‍

COMMUNICATIONS AND COMPLAINTS

‍

Coins.ph and the Partner reserves the right to elect the most appropriate and effective way of communicating with you. You understand and agree that Coins.ph and the Partner may send notifications, statements, and/or other matters to your last known mailing address, electronic mail address, mobile phone number, and other contact details, as transmitted to us by our Partners. 

‍

In addition to the modes of communication listed in the User Agreement, you consent to receive all communications sent by the Coins.ph through Partner Sites, or through the contact information you have provided to our Partners, which shall be deemed fully delivered to you.

‍

It is your sole responsibility to update your contact information. Your contact information on record is presumed current and updated until you change them. It is your responsibility to ensure that the Partner transmits your information updates to us.

‍

All communications to Coins.ph required or permitted under the User Agreement and this Addendum may be coursed through the Partner through whose Partner Site your Coins Account was created. You can modify or remove your permissions granted to a Partner by contacting the Partner’s Support Desk.

Any modification in your permissions with a Partner may affect how you access your Coins Account, subject to the Terms of Service with the Partner.

‍

If you have any complaints relating to your Coins Account created through the Partner Site, you may contact our Partner via the customer support page at the Partner Site. In doing so, you authorize Coins.ph to allow the Partner to do the following in relation to your Coins Account: view your transactions, view your balance, create an escalation ticket, and download settlement reports.

‍

You understand and agree that, when Coins.ph receives a complaint about you or your Coins Account, or when you raise issues in connection with your Coins Account including unauthorized access, incorrect information, or unauthorized Transactions, Coins.ph has the authority, by itself or through the Partner as Coins’ representative and upon Coins’ instruction, to lock or unlock your Coins Account, modify the permissions relating to your Coins Account, suspend, freeze, block, or unblock your Coins Account, trades, or Bitcoin in/out transactions, correct the balance of your Digital Assets, and hold or release your Digital Assets. Coins.ph, on its own or acting on information received from a Partner, may block or close your Coins Account.

‍

DISPUTE RESOLUTION

1. In the event of a Dispute relating to your Coins Account created through a Partner Site, you understand and agree that Coins.ph may, at its discretion, involve the Partner in the resolution of the Dispute.

‍

2. Where Coins.ph involves the Partner, you agree to negotiate with the Partner and Coins in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding), before commencing any arbitration as set out in https://coins.ph/user-agreement

3. In case of any conflict between Coins’ and the Partner’s dispute resolution procedures, you agree to be bound by the dispute resolution procedures under Coins.ph User Agreement.

‍

4. If you suffer any losses related to the Coins Platform or the Services which are directly attributable to the fault, misconduct, or negligence of Coins.ph and the Partner, which is determined in any judgment, award, finding, or investigation to be the joint liability of Coins.ph and the Partner, Coins.ph and the Partner shall negotiate in good faith in an effort to agree on the proper allocation of liability, including proper allocation of the costs of any joint defense or settlement. Any liability shall be subject to the limitations of liability in Coins’ User Agreement and in your separate agreement with the Partner through its own Terms of Service.

‍

FEES

The Partner may charge fees other than those charged by Coins.ph. These fees are solely between you and the Partner. Coins.ph may charge fees different from those charged in regular, non-Partner accounts, which will be made known to you before you are charged.

‍

‍