Terms Of Service
Last Updated: March 26, 2026
SECTION A — INTRODUCTION
1. About Bit1
1.1 Bit1 Ventures ("Bit1", "we", "us", "our") operates a digital asset trading platform accessible at bit1.com and through our mobile applications (collectively, the "Platform").
1.2 Bit1 provides order matching and settlement services for digital assets, operating as a technology platform that facilitates transactions between users. We do not act as principal in any transaction, nor do we act as a broker, dealer, investment advisor, or fiduciary.
1.3 These Terms of Service ("Terms") govern your access to and use of our Platform and services. By creating an account or using our services, you agree to be bound by these Terms.
2. Services
2.1 Bit1 offers the following services:
Spot Trading: Buy and sell digital assets for immediate delivery
Perpetual Futures Trading: Trade perpetual swap contracts with leverage
Order Matching: Automated matching of buy and sell orders
Settlement Services: Trade settlement and asset custody during trading
Account Management: Secure digital wallet and transaction history
2.2 Bit1 operates as an execution-only platform. We do not provide investment advice, financial advice, tax advice, or legal advice of any kind. All trading decisions are made solely by users based on their own analysis and judgment.
2.3 Bit1 does not act as principal, counterparty, broker, dealer, or investment advisor in any transaction. We facilitate trades between users but do not guarantee execution, pricing, or outcomes.
3. Eligibility and Access
3.1 Age Requirement: You must be at least 18 years old to use our services.
3.2 Legal Capacity: You represent that you have the legal capacity to enter into these Terms and that your use of our services does not violate any applicable law or regulation in your jurisdiction.
3.3 Sanctions Screening: You represent that you are not:
Listed on any sanctions list maintained by the United States Office of Foreign Assets Control (OFAC), the European Union, the United Kingdom Office of Financial Sanctions Implementation (OFSI), the United Nations, or any other applicable sanctions authority
A citizen, resident, or organized under the laws of any jurisdiction subject to comprehensive sanctions
Owned 50% or more, directly or indirectly, by any sanctioned person or entity
3.4 Restricted Jurisdictions: Our services are not available to residents or citizens of the following jurisdictions:
United States of America, United Arab Emirates, Singapore, Marshall Islands, Afghanistan, Angola, Belarus, Burundi, Cameroon, Central African Republic, the People's Republic of China, Crimea, Cuba, Côte d'Ivoire, the Democratic People's Republic of Korea, the Democratic Republic of the Congo, Donetsk, Eritrea, Ethiopia, Guinea Bissau, Guinea, Haiti, Iran, Iraq, Lebanon, Liberia, Libya, Luhansk, Mali, Myanmar, Canada, Russian-controlled regions of Ukraine (currently including Crimea, Donetsk and Luhansk regions), Rwanda, Sevastopol, Serbia, Sierra Leone, Somalia, South Sudan, Sudan, Trinidad and Tobago, Venezuela, Yemen, Zimbabwe.
3.5 Compliance Verification: We reserve the right to verify your eligibility and compliance with these restrictions at any time through ongoing monitoring and may restrict or terminate access if we determine you are ineligible.
4. No Advice Disclaimer
4.1 Bit1 provides execution-only services. We do not provide investment advice, financial advice, trading recommendations, tax advice, or legal advice.
4.2 All information on the Platform is provided for informational purposes only and should not be construed as professional advice of any kind.
4.3 You acknowledge that digital asset trading involves substantial risk and that you are solely responsible for evaluating the merits and risks of any trading decision.
4.4 Past performance of any digital asset does not guarantee future results. Digital asset prices are highly volatile and can fluctuate significantly.
5. Prohibited Uses
5.1 You agree not to engage in any of the following prohibited activities:
Market Manipulation:
Wash trading (trading with yourself or coordinated entities)
Spoofing (placing orders with intent to cancel before execution)
Layering (placing multiple orders to create false impression of demand)
Front-running (trading ahead of known large orders)
Pump-and-dump schemes
Any other form of market manipulation or fraudulent trading
Unauthorized Access:
Using unauthorized automated trading systems, bots, or scripts without prior written consent
Attempting to access accounts other than your own
Circumventing our security measures or rate limits
Scraping, crawling, or extracting data from the Platform without authorization
Platform Abuse:
Commercial exploitation of Platform data or functionality
Reverse engineering or attempting to discover source code
Introducing viruses, malware, or harmful code
Overloading or interfering with Platform operations
Legal Violations:
Money laundering or terrorist financing
Trading in proceeds of crime
Violating any applicable law or regulation
Facilitating prohibited transactions for restricted persons
5.2 Violation of these prohibitions may result in immediate account suspension, termination, and reporting to relevant authorities.
SECTION B — YOUR BIT1 ACCOUNT
6. Registration and KYC
6.1 Account Registration: You must register for an account to use our trading services. You may only maintain one account per individual or legal entity.
6.2 Accurate Information: You must provide accurate, complete, and current information during registration and promptly update any changes to this information.
6.3 Know Your Customer (KYC): We require identity verification through third-party identity verification providers. You must provide all requested documentation to complete the verification process.
6.4 Know Your Transaction (KYT): We employ industry-leading Know Your Transaction monitoring to detect suspicious activity and ensure compliance with anti-money laundering regulations.
6.5 Enhanced Due Diligence: We may require additional documentation and information for high-risk users, Politically Exposed Persons (PEPs), or users from high-risk jurisdictions.
6.6 Source of Funds and Wealth: We may request documentation regarding the source of your funds and source of your wealth at any time.
6.7 Data Retention: We retain your personal data for five (5) years after account closure for regulatory and compliance purposes.
7. Account Security
7.1 Your Responsibilities:
Maintaining the confidentiality of your login credentials
Using strong, unique passwords and enabling two-factor authentication
Immediately notifying us of any unauthorized access to your account
Ensuring your registered email and phone number remain secure and accessible
7.2 Bit1's Security Measures: We implement industry-standard security measures including:
Advanced encryption for data transmission and storage
Multi-factor authentication requirements
Cold storage for the majority of user funds
Regular security audits and monitoring
Segregation of client assets from company assets
7.3 Immediate Notification: You must immediately notify us at [email protected] if you suspect any unauthorized access to or use of your account.
7.4 Account Compromise: If your account is compromised, we may temporarily suspend your account to protect your assets while we investigate.
8. Account Suspension
8.1 We may suspend your account and freeze your funds in the following circumstances:
Violation of these Terms
Suspected fraudulent, illegal, or suspicious activity
Receipt of a legal order, subpoena, or regulatory directive
Ongoing litigation involving your account
Unusual trading patterns that may indicate manipulation
Failed compliance checks or KYC verification
Technical security concerns
8.2 Account Actions: During suspension, we may:
Freeze all assets in your account
Restrict platform access and trading activities
Cancel all open orders
Require additional documentation or information
8.3 Notification: We will notify you of account suspension where practicable and permitted by law, including the reason for suspension and steps required for reactivation.
8.4 Resolution: Account suspension will be lifted once the underlying issue is resolved to our reasonable satisfaction, unless termination is required.
9. Account Termination
9.1 Mutual Termination Rights: Either party may terminate these Terms at any time with or without cause.
9.2 Withdrawal Period: Upon termination, you have five (5) business days to withdraw all assets from your account, subject to any applicable restrictions or legal holds.
9.3 Outstanding Liabilities: All outstanding fees, costs, and liabilities must be paid immediately upon termination.
9.4 Data Retention: Following termination, we will retain your data as required by applicable law and regulation, typically for a minimum of five (5) years.
9.5 Effect of Termination: Upon termination, your right to access and use the Platform immediately ceases, but provisions regarding liability, indemnification, and dispute resolution survive termination.
10. Administrative Hold
10.1 Disputed Assets: We may place an administrative hold on assets that are subject to dispute, legal proceedings, or claims by third parties.
10.2 Non-Involvement: Bit1 will not involve itself in resolving disputes between users or between users and third parties regarding asset ownership.
10.3 Hold Duration: Administrative holds remain in effect until the dispute is resolved through appropriate legal channels or by agreement of all parties.
10.4 Documentation: We may require court orders, legal documentation, or other evidence to release assets subject to administrative hold.
SECTION C — TRADING
11. Placing Orders
11.1 Order Submission: Orders may be placed through our Platform interface or approved API connections.
11.2 Trading Limits: We may impose trading limits, position limits, and deposit limits at our sole discretion based on account verification level, trading history, and risk assessment.
11.3 Order Responsibility: You are fully responsible for all orders placed through your account, including orders placed by authorized third parties or through API connections.
11.4 Binding Orders: Once an order is filled, you are legally bound to complete the transaction according to the executed terms.
11.5 Order Types: We support various order types including market orders, limit orders, stop orders, and other advanced order types as specified in our trading documentation.
12. Perpetual Futures
HIGH RISK WARNING: Perpetual futures trading involves significant risk. You may lose your entire investment and, in some cases, more than your initial deposit. Only trade with funds you can afford to lose.
12.1 Risk Factors: Perpetual futures trading involves significant risks including but not limited to:
Leverage Risk: Amplified gains and losses due to borrowed capital
Forced Liquidation: Automatic closure of positions when losses exceed available margin
Price Volatility: Extreme price movements in 24/7 markets
Funding Costs: Periodic funding payments between long and short positions
Counterparty Risk: Risk that the counterparty cannot fulfill their obligations
12.2 Bit1's Rights: For perpetual futures trading, we may:
Adjust margin requirements at any time without notice
Force-close positions to prevent further losses
Cancel abnormal or erroneous transactions
Roll back trades in extreme circumstances involving system errors
Modify contract specifications with appropriate notice
12.3 Margin Calls: We do not provide margin calls. It is your responsibility to monitor your positions and maintain adequate margin.
12.4 Auto-Liquidation: Positions may be automatically liquidated when your equity falls below the required maintenance margin level.
13. Leverage and Margin
13.1 Margin Requirements:
Initial Margin: Required to open a leveraged position
Maintenance Margin: Minimum equity required to keep a position open
Margin ratios may change at Bit1's sole discretion based on market conditions and risk assessment
13.2 Monitoring Responsibility: You are solely responsible for monitoring your margin levels and position sizes.
13.3 Automatic Liquidation: If your account equity falls below the maintenance margin requirement, positions may be automatically closed to prevent further losses.
13.4 Liquidation Process: Liquidations are executed at prevailing market prices, which may result in losses exceeding your initial margin.
14. Order Handling
14.1 Best Efforts: We use best efforts to match orders but do not guarantee execution, timing, or specific pricing.
14.2 Order Book Priority: Orders are generally processed based on price-time priority, but we reserve the right to implement alternative matching algorithms.
14.3 Market Impact: Large orders may be filled at multiple price levels and may impact market prices.
14.4 Compliance Delays: Orders may be delayed or rejected for compliance screening, risk management, or technical reasons.
14.5 No Price Guarantee: We do not guarantee that orders will be executed at the displayed price due to market movements and latency.
15. Order Cancellation
15.1 User Cancellation: You may cancel unfilled orders, though cancellation is not always possible due to timing or technical constraints.
15.2 Bit1 Cancellation Rights: We reserve the right to cancel, adjust, or unwind trades in the following circumstances:
System malfunctions or technical errors
Suspected fraud, manipulation, or market abuse
Account compromise or security concerns
Violation of these Terms or applicable law
Erroneous pricing or execution errors
Regulatory requirements or legal orders
15.3 Clawback Provision: We may reverse or adjust transactions that result from obvious errors, system malfunctions, or manipulation.
15.4 Notice: We will provide reasonable notice of cancellations where practicable, except in cases requiring immediate action for security or legal reasons.
16. Settlement
16.1 Spot Trading Settlement: Spot trades settle immediately upon execution with assets credited and debited to the appropriate accounts.
16.2 Futures Settlement: Perpetual futures settle according to contract specifications, typically involving periodic funding payments and final settlement upon position closure.
16.3 Account Updates: Your account balance will be updated to reflect all settled transactions, fees, and adjustments.
16.4 Settlement Errors: Any settlement errors must be reported within thirty (30) days of the transaction date.
17. Fees
17.1 Trading Fees: Transaction fees apply to each trade according to our fee schedule published on the Platform.
17.2 Fee Changes: We may modify our fee structure at any time with reasonable notice posted on the Platform.
17.3 Fee Calculation: Fees are calculated based on trade volume, account tier, and other factors as specified in our fee schedule.
17.4 Payment: Fees are automatically deducted from your account at the time of trading or as otherwise specified.
17.5 Disputes: You have thirty (30) days from the transaction date to dispute any erroneous fee charges.
17.6 Network Fees: You are responsible for any blockchain network fees associated with deposits or withdrawals.
SECTION D — COMPLIANCE AND DATA
18. Compliance with Local Laws
18.1 User Responsibility: You are solely responsible for ensuring that your use of our services complies with all applicable laws and regulations in your jurisdiction.
18.2 Legitimate Source of Funds: All funds deposited to your account must derive from legitimate sources and comply with anti-money laundering regulations.
18.3 Documentation Requests: We may request additional documentation regarding the source of your funds, business activities, or transaction purposes at any time.
18.4 Regulatory Changes: You must promptly notify us of any changes in your regulatory status or if you become subject to additional compliance requirements.
19. Disclosures to Authorities
19.1 We may share your information with law enforcement, regulatory authorities, and other government agencies in the following circumstances:
(a) When required by applicable law, regulation, or legal process (b) In response to valid subpoenas, court orders, or regulatory investigations (c) To prevent or investigate suspected illegal activities, fraud, or threats to security (d) To report suspicious transactions as required by anti-money laundering laws (e) To investigate violations of these Terms or protect our rights and interests (f) To prevent financial loss or damage to Bit1 or its users (g) In connection with legal proceedings involving your account
19.2 No Notice Required: We are not required to provide advance notice of such disclosures unless specifically required by applicable law.
19.3 Good Faith Cooperation: We will cooperate with legitimate law enforcement and regulatory requests in good faith while protecting user privacy to the extent permitted by law.
20. Intellectual Property
20.1 Platform Ownership: All content, software, trademarks, and intellectual property on the Platform are owned by Bit1 Ventures or our licensors.
20.2 Limited License: We grant you a limited, non-exclusive, revocable license to use the Platform for your personal trading activities only.
20.3 Prohibited Uses: You may not:
Copy, modify, or distribute Platform content without authorization
Use our intellectual property for commercial purposes
Create derivative works or reverse engineer our software
Remove or alter any proprietary notices or marks
20.4 User Feedback: Any suggestions, feedback, or ideas you provide to us become our property and may be used without compensation or attribution.
20.5 Third-Party IP: We respect third-party intellectual property rights and expect users to do the same.
SECTION E — LIABILITY AND DISPUTES
21. Limitation of Liability
21.1 Disclaimer: The Platform is provided "as is" and "as available" without warranties of any kind, express or implied.
21.2 Damages Limitation: To the maximum extent permitted by law, Bit1 shall not be liable for:
Indirect, incidental, special, consequential, or punitive damages
Loss of profits, data, business opportunities, or goodwill
Damages arising from trading losses, market volatility, or investment decisions
Third-party actions or failures of external systems
21.3 Liability Cap: Our total liability for any claim shall not exceed the amount of transaction fees paid by you to Bit1 in the three (3) months preceding the event giving rise to the claim.
21.4 Force Majeure: We are not liable for failures caused by events beyond our reasonable control.
21.5 Trading Risks: You acknowledge that digital asset trading involves inherent risks and that we are not responsible for trading losses.
22. Indemnification
22.1 You agree to indemnify, defend, and hold harmless Bit1, its affiliates, officers, directors, employees, and agents from and against all claims, damages, losses, costs, and expenses (including reasonable attorney fees) arising from:
Your misuse of the Platform or services
Your violation of these Terms or applicable law
Your breach of representations or warranties
Third-party claims related to your trading activities
False or misleading information provided by you
Regulatory proceedings or investigations related to your conduct
22.2 Defense Rights: We reserve the right to assume the exclusive defense of any matter subject to indemnification, at your expense.
22.3 Cooperation: You agree to cooperate fully with our defense of any indemnified claims.
23. Dispute Resolution
23.1 Step 1 - Good Faith Negotiation: Before initiating formal dispute resolution, you must first attempt to resolve any dispute through good faith negotiation by submitting a support ticket through our Platform.
23.2 Step 2 - Written Notice of Claim: If the dispute cannot be resolved through customer support, you must provide written notice of your claim to [email protected], including:
A detailed description of the dispute
Your desired resolution
Supporting documentation
Your contact information
23.3 Step 3 - ICC Arbitration: If the dispute cannot be resolved within sixty (60) days of written notice, it shall be resolved through binding arbitration administered by the International Chamber of Commerce (ICC) under its Arbitration Rules.
Arbitration Terms:
Seat
San Salvador, El Salvador
Governing Law
Laws of El Salvador
Number of Arbitrators
Three (3)
Language
English
Confidentiality
All proceedings shall remain confidential
23.4 Prerequisites: Steps 1 and 2 are mandatory prerequisites to arbitration and must be completed in good faith.
23.5 Class Action Waiver: You agree to resolve disputes individually and waive any right to participate in class action lawsuits or collective proceedings.
23.6 Survival: This dispute resolution clause survives termination of these Terms.
23.7 Exceptions: This arbitration requirement does not apply to requests for injunctive relief to protect intellectual property rights or prevent ongoing harm.
24. Force Majeure
24.1 Force Majeure Events: Neither party shall be liable for delays or failures in performance resulting from circumstances beyond their reasonable control, including:
Acts of God, natural disasters, pandemics, or extreme weather
War, terrorism, civil unrest, or government actions
Infrastructure failures, power outages, or telecommunications disruptions
Cyber attacks, system failures, or technical malfunctions
Regulatory actions or changes in law
24.2 Notice: The affected party must promptly notify the other party of any force majeure event and its expected duration.
24.3 Mitigation: Each party must use reasonable efforts to mitigate the effects of any force majeure event.
24.4 Exclusions: Force majeure does not excuse payment obligations or acts of fraud, gross negligence, or willful default.
24.5 Termination: If a force majeure event continues for more than ninety (90) days, either party may terminate these Terms upon written notice.
SECTION F — GENERAL
25. Severability
25.1 If any provision of these Terms is found to be invalid, illegal, or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.
25.2 Invalid provisions shall be replaced with valid provisions that most closely approximate the economic effect of the original provision.
26. Assignment
26.1 User Restrictions: You may not assign, transfer, or delegate your rights or obligations under these Terms without our prior written consent.
26.2 Bit1 Rights: We may assign these Terms to any affiliate, subsidiary, or successor entity without notice or consent.
26.3 Binding Effect: These Terms bind and benefit the parties and their respective successors and permitted assigns.
27. Waiver
27.1 No waiver of any provision shall be effective unless in writing and signed by the waiving party.
27.2 Failure to enforce any provision does not constitute a waiver of that provision or any other provision.
27.3 Any waiver applies only to the specific instance and does not waive future compliance.
28. Entire Agreement
28.1 These Terms, together with our Privacy Policy and any additional terms referenced herein, constitute the entire agreement between the parties regarding the subject matter.
28.2 These Terms supersede all prior agreements, understandings, and communications between the parties.
28.3 Any additional terms must be agreed to in writing to be binding.
29. Amendments
29.1 Amendment Rights: We may amend these Terms at any time by posting revised Terms on our Platform.
29.2 Notification: For material changes, we will provide notification through the Platform and via email to your registered email address.
29.3 Deemed Acceptance: Continued use of our services thirty (30) days after notification constitutes acceptance of the amended Terms.
29.4 Rejection: If you do not agree to amended Terms, you must cease using our services and may close your account.
30. Contact Information
For questions, concerns, or support regarding these Terms or our services:
31. Privacy Policy
Our collection, use, and protection of your personal information is governed by our Privacy Policy.
32. Effective Date
These Terms of Service are effective as of March 26, 2026 and remain in effect until superseded by updated Terms.
By creating an account or using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.
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