TERMS AND CONDITIONS
Latest Update: January 6th, 2021
Art. 1 Scope
These Terms and Conditions apply exclusively and irrevocably to all business relationships with Visitors in connection with BITWIN24 in the latest version. They regulate the access to the Website, the participation in the Lottery, the use of the online services, the use of client software and all services offered or provided by BITWIN24 and its Operator. Every de facto participation in the online services already includes a consent of the Terms and Conditions. If Visitors do not unconditionally agree to these terms or withdraw their consent in whole or in part, they will be excluded from further use.
In addition special regulations may apply in individual cases to the Terms and Conditions which the Operator will refer separately.
Art. 2 Definitions
These definitions apply to the whole Terms and Conditions, to all business relationships from the Online Presence, to all products and services of the Operator. Any application of the terminology used here or other words of the text in singular, plural, capitalization and regardless of gender should be regarded as interchangeable and therefore refer to the same.
App stands for software applications developed on behalf of the Operator and made available by the operator for free or chargeable (provided software).
Blockchain refers to the digital database of a cryptocurrency in a decentralized network. A blockchain (also block chain) is a continuously expandable list of data records, called „blocks”, which are linked together by using cryptographic methods. Here in particular the blockchain of BITWIN24 Coin (BWI) and Bitcoin (BTC).
BWI Coin or BITWIN24 cryptocurrency is the currency associated to the lottery network, but not the draw amount. Lottery Tickets can also be purchased with BWI Coins. Technical data can be always found in the lastest version of the BITWIN24 white paper.
Exchange is a trading platform where everybody can buy, sole or exchange coins and tokens for a service fee.
FIAT or FIAT currency only refers within these Terms and Conditions to the aspect of internationally tradable national currencies and NOT the entirety of exchange objects without physical value.
Hash is a character string which content represents a certain information. In the case of BITWIN24, this is the hash of a Bitcoin transaction at a certain point in time.
Lottery is a type of gambling in which participants buy a Lottery Ticket and submitting at least one tip.
Lottery Tickets means in connection with these Terms and Conditions the intangible right to submit a tip and requires the payment of the ticket price.
The Online Presence includes all Websites and downloadable files of the Operator on the World Wide Web combined under the domain bitwin24.io as well as all related information and functionalities. This also includes all publications on social media and video channels as well as video conferences for marketing and information purposes.
Operator here denotes the company Bitwin24 N.V, Abraham de Veerstraat 9, Willemstat, Curacao, as well as all employees.
Smart Contracts are digital protocols with predefined conditions of processes and support the process execution technically. In this way, the tip will be fixed at BITWIN24.
Users are Visitors who have successfully registered on the Website and opened an User account.
Visitors are all natural persons, companies or other legal persons who access the Website, access information or use online services.
A Wallet stores the private key (s) and provides the owner a management platform for his coins. Download services for desktop and mobile wallets of the BWI Coin are available.
Website here means only the pages of the Operator of the individual web address http://bitwin24.io/… in the World Wide Web.
Win-Chain is a relationship chain of Users across different levels, which is built up by recommendations.
Art. 3 Information about possible risks
Gambling can be addictive. Lottery participants should not plan for future winnings or get into debt. With the acceptance of these Terms and Conditions, Users confirm that they have informed themselves about all risks of financial derivatives, blockchain technologies and digital media including price fluctuations, the possibility of economic loss or the loss of expected income or profits, as well as dangers from cyber crime. The Operator also expressly draws attention to the safe and confidential storage of access data.
Art. 4 Purchase of BWI coins
The purchase of BWI Coins is intended via the Operator’s Online Presence, feasible partner programs, selected exchanges and multi-wallet providers. The Operator provides information on his Online Presence which sources of purchase are currently available.
User cannot transfer, assign, sell or pledge its account to another person. This prohibition includes the transfer of assets of value of any kind, including but not limited to ownership of accounts, winnings, deposits, bets, rights and/or claims in connection with the assets, in the sense of legal, commercial or otherwise. The prohibition of such transfers also includes, however is not limited to, the encumbrance, pledging, assigning, usufruct, trading, brokering, hypothecation and/or gifting in cooperation with a fiduciary or any other third party, unless it is a natural individual, a company or any other legal person, a foundation and/or association in any way of shape or form.
However, the trading of the cryptocurrency BWI trough exchanges is not effected by the disclaimer stated above as long as the BWI coins are not in use for the betting game as described in Article 7.
Art. 5 Registration of Users
Natural person must be at least 18 years old and have full legal capacity. Read also Article 10. The User must have unrestricted agreed to the present Terms and Conditions after having read them carefully and fully understood them. If there are any questions or something is unclear, the Operator will help willingly via the contact options on his Website. Employees and organs of the Operator are not permitted to attended the lottery. They are strictly excluded.
All information during the registration process must be complete and truthful. Failure to do so can have legal consequences. Users should have previous informed themselves whether there are legal restrictions on gambling and / or cryptocurrencies in their home country. The provisions in Article 10 of these Terms and Conditions apply accordingly.
Before registering User must read carefully and verify the content of Art. 10. and Art. 11. Users who are restricted by this clause are not permitted to register.
When registering, the User automatically creates a personal User account. User data and active games can be managed on the User dashboard of the account. In addition, the term, bets and typed strings are visible to the User.
If the Operator provides an app for operating a User account, this way will be also possible.
Art. 6 Conditions of participation for the lottery
The basic requirement is successful registration, the associated creation of an User account and the fulfillment of the conditions from Art. 5 and Art. 10 of these Terms and Conditions.
The purchase or possession of lottery tickets is required in order to participate in the lottery. The purchase of lottery tickets can be possible by bank transfer, blockchain transaction, credit card payment, direct debit or Apple Pay, depending on the currently released payment systems. Payment can be made in cryptocurrencies or FIAT currencies, depending on the payment system and the acceptance of the Operator. The Operator provides information which payment systems and currencies can currently be used via his Online Presence. The Operator is free to choose preferred payment methods, e.g. payment with BWI Coin to offer discounted ticket prices.
In addition, it is mandatory for participation that the User submit at least one game tip consisting of a sequence of 6 characters plus an additional character. Eligibility requires payment of the full bet including fees (ticket price). The characters: 0,1, 2, 3, 4, 5, 6, 7, 8, 9 and the lower case letters: a, b, c, d, e, f are permissible. The input is made via the respective provided input platforms: Website or App. It is not imperative to provide all possible platforms at all times.
Art. 7 Use of the ticket price and Lottery
The betting game is automatically activated and fixed in the related Smart Contract after entering the 7 characters and the integrated ticket price has been paid. The order or arrangement of the characters is decisive in the draw. It is possible to tip several times for a draw and to buy several tickets. The bets, draws and typed strings are visible to the User on the User dashboard of the User account.
All proceeds from the ticket sale, minus a service fee of 25%, go to the amount of the draw. This amount is Bitcoin (BTC) based and all deposits in other currencies will be exchanged in BTC.
A social share for donations to social projects of 2%, 18% for the winchain and the dividend of the investors of 10% are deducted of the winning amount of each draw.
The Users can make suggestions for such social projects which should get a donation. The precondition is that the donation recipient is a registered charitable or humane organization and it is guaranteed that the donation are used for the project and are not devoured for processing fees and administrative costs. The Operator selects 5 from all proposals. By voting, the Users decide which project will get the donation. Over a period of three months, the social shares are collected bevor they will be donated. Then the Users will vote for a new project.
The drawing is based on the following principle: the drawing algorithm determines a random point in time. At this point in time or closest to the point in time, the hash of the corresponding transaction is read from the blockchain of the BTC. The first 6 characters read from the right result in the winning characters and the 7th character from the right results in the additional character. Drawings take place at regular intervals, as described in the Operator’s Online Presence. Further technical information can be found in the latest version of the BITWIN24 white paper.
The winner is someone who has typed at least 1 correct characters. The winnings are staggered up to the maximum win for 6 correct characters with an additional character. The winnings do not have to be claimed, winners are contacted or their winnings are paid out in the desired currency. Further information, such as the amount of the win scales or share of the Win-Chain per level will be published regularly by the Operator on his Online Presence.
Art. 8 Win-Chain system
The Win-Chain system offers Users the chance of additional winnings or income if they recommend the lottery to new Users. The prerequisite is that the own User account continues to exist and that the new User has created and is currently operating a User account. In this way, a relationship structure between the Users is established across unlimited levels.
The Operator has the right to form play communities from these relationship structures down to the level of his choice (Win-Chain). Winnings sharing within the Win-Chain at higher levels (the recommenders) is possible if there is a winnings in the lower levels to a new Users which was recommended. The Operator is entitled to adjust the conditions in advance and publish them on his Online Presence.
If a User terminates his User account, he irrevocably loses his claims to winnings sharing. In this case, the claims to the next higher level, if available, can be passed on.
The User is responsible for all legal requirements and for taxation that could result from this income.
Art. 9 Disclaimers and limitations of liability
The information on the Website is provided to the greatest extent permitted by law. The Operator excludes all representations and warranties regarding correctness and completeness in relation to the Website, the Online Presence and its content as well as the content provided by affiliated companies or third parties. This includes all presentations, demonstrations and descriptions.
The Operator is not liable for indirect damage or consequential damage related to the Website, the Online Presence, participation in the lottery, the use of the online services which are offered, the use of client software and all services offered or provided by BITWIN24 and its Operator whether the consequences was foreseeable or not and may happen in a normal case like things happen.
In particular, the Operator is not liable for damages as but not limited to damage of computer hardware or software, systems and programming or loss of data at the Visitor or User as well as economic losses, loss of business or loss of profit. The Users were also informed about possible risks in Art. 3.
Furthermore, the Operator is not liable for direct damage, with the exception of gross negligence or intent. Any liability for damage caused by criminal acts by third parties is also excluded, as well as for damage caused by force majeure, in particular by fire, water, storms, strikes, explosions, internal unrest, terrorist attacks, epidemics, pandemics or other reasons that are beyond the responsibility of the Operator.
The Operator also assumes no guarantees for the availability of the World Wide Web or the Website, as well as compatibility with browsers or operating systems. This also applies to the Apps. In addition, maintenance work or updates that interrupt the operation or use may be required from time to time. Furthermore, the Operator is not responsible for the continuous, trouble-free operation and security of the Blockchain and cryptocurrency networks.
Art. 10 Legal requirements and sanctions
The User declares by its agreement to this Terms and Conditions that he has not been affected by any sanction or that he has been listed by any competent supervisory authorities. He must announce changes immediately. Furthermore, the User declares that its resident is not one of the following countries, it is not owner of citizenship of one of the following countries and it is not accessing the Website or using the App from one of the following countries:
- United Staates of America and its territories
- French Republic and its territories
- The Netherlands and its territories and countries that member to the Kingdom of the Netherlands including Bonaire, Sint Eustatius, Saba, Aruba, Curaçao and Sint Maarten
- Commonwealth of Australia and its territories
- United Kingdom of Great Britain and Northern Ireland
- Kingdom of Spain and its territories
The Operator will monitor User’s status at registration and from time to time regularly. A positive screening result leads to the immediate cessation of services.
In addition, the User confirms with his consent to the Terms and Conditions that he is acting on his own expense. Transactions are only allowed from accounts which are registered under User’s name (e.g. bank accounts, wallets or payment services).
The Operator grants the right to request proof of the identity of the User. For natural persons, this is usually done through an official document from an authority (e.g. identity card), with legal entities through a current commercial register extract. Winners can expect a more detailed vetting.
In the case of incorrect or incomplete information as well as fraud or fraudulent misrepresentation, the User shall indemnify the Operator from all legal consequences and financial damages. Additionally, the Operator will immediately suspend the User from the use of Website and services. The Operator reserves the right to take legal actions.
Art. 11 Gaming of natural persons under age
If the Operator recognizes or receives any information that the User, who is a natural person, has registered under a wrong name, with an official ID-document which belongs to another person or a manipulated ID-document and the User has been less than 18 years old the Operator will immediate cess all services, will freeze all credits on the User account, suspend the User account and will report this criminal act to the related authority. The relevant court or the competent authorities will decide on the whereabouts of the credit on the User account, possible winnings and a possible repayment of payments.
The same procedure is initiated if it becomes known that someone has only acted as an agent for a User under the age of 18 and has thus violated the principle of Art. 10 „acting on his own expense“.
This limit of 18 year can be overruled if the age-restriction for gaming in the User’s homeland is higher than 18 years. Therefore, the User must inform itself about such restriction before registration. If the User violate its homeland’s restriction the same procedure will initiated.
Art. 12 Waiver
No waiver of any of the provisions of the Terms and Conditions will be deemed to constitute a waiver of any other provision nor shall such a waiver constitute a continuing waiver unless otherwise expressly provided in writing duly executed by the party to be bound thereby.
Art. 13 Termination
The User can request the termination of his User account in writing at any time by using the contact options on the Website. Tickets which are already purchased will not be refunded. The access to any credit expires with termination. Therefore, a previous transfer to another account or an Exchange is recommended. At the same time, any claim to payouts, winnings sharing that may arise after the day of termination will expire.
The Operator has an extraordinary right of termination if there are good reasons against continuing the business relationship with a User. There is no entitlement to the reimbursement of tickets, unpaid or future payments and winnings sharing.
Art. 14 Severability clause
Should a provision of the Terms and Conditions be ineffective, the ineffectiveness has no influence on the remaining provisions of the Terms and Conditions, which can become effective without the ineffective provision. The Terms and Conditions remain valid.
Art. 15 Changes of the Terms and Conditions
The Operator has the right to adapt the Terms and Conditions to new circumstances or legal changes at any time. Changes must be made in writing and must be visible to Users. However, a renewed consent of the User on the changes is not necessary. It is sufficient if the Operator will inform about the existence on his Online Presence. The right of objection remains unaffected.
Art. 16 Applicable law and legal recourses
Every User accepts these Terms and Conditions by participation. With the blockchain, the drawing of the winnings is transparent, forgery-proof and finally to the exclusion of legal action.
The Operator retains all copyrights, property rights and IP rights to the content of its Online Presence and the software which are provided. Users cannot sublicense the software which are provided by the Operator. Duplication and distribution of content from the Online Presence, even in a modified form, is only permitted with the prior written consent of the Operator.
The gaming license of the Operator is also not sub-licensable, neither directly nor indirectly.
For data protection issues the Operator refers to the Privacy Statement on his Website.
These Terms and Conditions are governed by the laws and legal regulations of Curaçao.
Any dispute, controversy or claim arising out of or in connection with the Terms and Conditions, the Online Presence and the services will be finally settled by arbitration in accordance with the arbitration rules of the Arbitration Institute of the Netherlands Antilles . The arbitration will be held in Curaçao and the language of the arbitration will be English.