COINME TERMS OF USE AND SALE

Last Updated: March 14th, 2016


PLEASE READ THESE TERMS OF USE AND SALE CAREFULLY.  BY PURCHASING OR SELLING ANY VIRTUAL CURRENCY VIA ANY OF OUR AUTOMATED VIRTUAL CURRENCY KIOSKS (“Kiosks”), YOU AGREE TO BE LEGALLY BOUND BY THESE TERMS OF USE AND SALE AND ALL TERMS INCORPORATED BY REFERENCE.  IF YOU DO NOT AGREE TO ALL OF THESE TERMS, DO NOT PURCHASE OR SELL ANY VIRTUAL CURRENCY VIA ANY KIOSK.

Western Coin LLC d/b/a “Coinme” (“Coinme,” our,” or we,”) sells and purchases virtual currency through our Kiosks, and provides a hosted virtual currency wallet (“Services”).  Your purchase or sale of virtual currency through a Kiosk is governed by these Terms of Use and Sale.

Coinme reserves the right to change or modify these Terms of Use and Sale at any time and in our sole discretion.  The amended Terms of Use and Sale will be effective immediately upon your use of any Kiosk on which the amended Terms of Use and Sale are posted, and will apply to all purchase and sale transactions occurring thereafter.  We encourage you to review these Terms of Use and Sale each time you make a purchase or sale to ensure that you understand the terms and conditions that apply to your transactions on one of our Kiosks.

 

1.      USER INFORMATION

1.1             Eligibility.  By using the Services, you represent and warrant that you (a) are of legal age to form a binding contract; (b) have not previously been suspended or removed from using our Services; (c) have full power and authority to enter into this agreement and in doing so will not violate any other agreement to which you are a party; (d) are under the control of, or a national or resident of any country to which the United States has embargoed goods or services; (e) have not been identified as a “Specially Designated National” by the U.S. Office of Foreign Assets Control; and (f) have not been placed on the U.S. Department of Commerce’s Denied Persons List.   If you are using the Services on behalf of a legal entity, you further represent and warrant that (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, and (ii) you are duly authorized by such legal entity to act on its behalf.

1.2             Account.  In order to use our Services, you must create an account with Coinme before completing a transaction.  If you create an account, you agree to: (a) provide accurate, truthful and current information when creating an account or when using one of our Kiosks; (b) use your account and the Services only for yourself, not to share access with others, and not conduct transactions for others; and (c) promptly notify us if you discover or otherwise suspect any security breaches or misuse related to your account.

1.3   Privacy.  Please refer to our Privacy Policy accessible in the user interface at our kiosks, and at http://www.coinmekiosk.com/privacy/ for information about how we collect, use and share your information.           

1.4             Personal Information and Identity Verification.  Prior to your use of the Services, you must provide all information requested by Coinme through the Kiosk, which may include, but not be limited to, name, address, social security number, driver’s license or Government-issued ID scans, and photographic images (“Personal Information”).  You acknowledge that Coinme will analyze and validate your identity by reference to the Personal Information to determine whether you qualify to use the Services (“Verification Process”).  Coinme uses a third party service to assist it in the Verification Process, and disclaims responsibility for any loss, delay or other harm relating to the Verification Process.  Your use of the Services may be delayed during the Verification Process.  If your Personal Information does not pass the Verification Process, or if you fail to provide any of the Personal Information required to access the Services, you will be denied access to the Services.  If you believe your access to the Services has been wrongly denied, please contact support@coinmekiosk.com.

2.      VIRTUAL CURRENCY WALLET SERVICES

When you use our services, virtual currency that you store with us, that you sell in exchange for U.S. dollars, or that you purchase from us is stored in a custodial virtual currency wallet that is managed by Coinme.  Coinme holds the private key that is associated with this wallet, which is necessary to send virtual currency from the wallet to an external virtual currency address.  We will provide you with a unique virtual currency address associated with the Coinme custodial wallet to which you can send virtual currency that you wish to store or sell using our service. 

2.1.Withdrawals of Virtual Currency.  In order to withdraw virtual currency that you purchased or stored using the Coinme service, you must log into your account and use the Coinme user interface at the Kiosk or by accessing your account and using Coinme’s online tools on our website. When you withdraw virtual currency from or deposit virtual currency to the Coinme custodial wallet, your transactions are public; as they are confirmed via public ledger using the distributed consensus network for that virtual currency (e.g., the Bitcoin Network or Blockchain). 

2.2.Deposits of Virtual Currency.  Before you can sell virtual currency from your Coinme account, all deposits of such virtual currency to the Coinme custodial wallet must have been confirmed on the public ledger for that virtual currency. 

2.3.No Control Over Public Distributed Consensus Networks.  Because the public distributed consensus networks that are used to confirm transactions of your virtual currency are decentralized networks of independent third-parties, Coinme has no control over them, and therefore cannot and does not ensure that any deposit to or withdrawal from the Coinme custodial wallet will be confirmed on these networks.  You acknowledge and agree that the deposit and withdrawal requests you submit via the Services may not be completed, or may be substantially delayed, by the distributed consensus network for that virtual currency. When you complete a transaction request via the Services, you authorize us to submit your transaction request to the distributed consensus network in accordance with the instructions you provide via the Services.

2.4.Limitations.  Coinme imposes limits on the amount of virtual currency that you can buy, sell, or withdraw using the Services in any single day.  Coinme, in its sole discretion, may change the limitations as it deems necessary or appropriate from time to time. 

2.5. No Cancellations or Modifications.  Once a transaction to withdraw virtual currency from your account to an external virtual currency address has been submitted to the public distributed consensus network for that virtual currency via the Services, you will not be able to cancel or otherwise modify your transaction request.  Coinme has no ability to facilitate any cancellation or modification requests.  As a result, all withdrawal requests initiated via the Services are irreversible.

3.      PURCHASE AND SALE ORDERS

The following terms apply to any purchase or sale of virtual currency carried out via a Kiosk.

3.1.           Order Information.  You must provide all information requested by Coinme through the Kiosk in connection with any order for the purchase or sale of virtual currency (each, an “Order”), including: (a) for purchase Orders, the amount of U.S. dollars you intend to spend in connection with the purchase and the virtual currency wallet address (or “address”) to which Coinme will send the virtual currency you purchase; and (b) for sales Orders, the amount of virtual currency you intend to sell.  You are solely responsible for the accuracy of any Order information you submit via a Kiosk. 

3.2.           Offer Terms.  When you place an Order for the purchase or sale of virtual currency at a Kiosk, you will be shown the terms and conditions for purchase or sale of the virtual currency (“Offer Terms”), which will include: (i) the exchange rate for the virtual currency you intend to purchase or sell, (ii) the fees that will be charged by Coinme to complete the Order, as further described in Section 4 below; and (iii) for sale transactions only, the Offer expiration time, which is the deadline by which the virtual currency you intend to sell to Coinme must be received by Coinme or its designated agent.  For sale transactions, you will be issued a payment ticket that, once you have sent to Coinme, can be scanned at the Kiosk to obtain.

3.3.           Order CompletionIn order to accept Coinme’s offer to purchase or sell virtual currency, you must satisfy any terms and conditions stated in the Offer Terms, including without limitation, by fulfilling the requirements outlined below.

(a)    Purchase Order Completion.  To complete your purchase of virtual currency from Coinme in accordance with the applicable Offer Terms, you must insert cash into the Kiosk to pay Coinme, whereupon Coinme will credit you the amount of virtual currency calculated by the exchange rate specified in the Offer Terms to your account within our hosted virtual currency wallet.  Once your purchase is complete, you will be able to log into our service and transfer the virtual currency credited to you to an external virtual currency address of your choice.

(b)   Sale Order Completion.  To complete your sale of virtual currency to Coinme in accordance with the applicable Offer Terms, the following must occur: (i) you must send virtual currency to the virtual currency address associated with your account in our hosted wallet, (ii) you can then use the kiosk to sell virtual currency from your account to Coinme, whereupon the Kiosk will disburse cash in the amount of U.S. dollars specified in the Offer Terms, calculated by the exchange rate specified in the Offer Terms at the time they were shown to you.

You may not conduct more than $2,500 in aggregate transactions in any given day, whether alone or in concert with other Coinme customers.  You may only sell as much virtual currency as you have credited to your account at any given time in our hosted virtual currency wallet.

3.4.           Receipts.  Upon completion of a purchase or sale transaction, you will choose whether to have your receipt printed or emailed to you.  Your receipt will include the exchange rate used to calculate the value of the virtual currency or U.S. dollars that you purchased or sold.

3.5.           Estimated Delivery.   For purchase transactions, Coinme will endeavor to send virtual currency to your designated address within a reasonable timeframe, but cannot guarantee that the virtual currency will be transmitted to your address within any specific timeframe.  The amount of virtual currency that is transmitted to your address, however, will not be any different than the amount stated in the sales receipt that is provided to you in your Order.  For sales transactions, Coinme will dispense U.S. dollars to you after it has confirmed receipt of the virtual currency that you sent to Coinme’s wallet address and you present and scan your payment ticket at the Kiosk.

3.6.           Funds Sources Accepted.  Kiosks will only accept and disburse cash and virtual currency as described in Section 3.3 above.

3.7.           Conditions and Restrictions.  We may, at any time and in our sole discretion, refuse or reject any Order, impose limits on the Order amount permitted, or impose other conditions or restrictions upon your Order without prior notice.  For instance, we may refuse to execute your Order if you are a resident of a state where we do not engage in purchase or sale transactions, or we may refuse to execute your Order if the amount of the Order exceeds certain daily limits.

3.8.           TaxesIt is your responsibility to determine what, if any, transactions you complete using the Services, and any profit or loss you obtain therefrom.  You are responsible for any sales, use, value-added, or similar transfer taxes that are imposed in connection with the Service.  We reserve the right to collect or recover such taxes from you at any time where required or permitted by.

4.            FEES

 

4.1.           Amount of Fees.  You agree to pay Coinme the fees for transactions completed via our Kiosk (“Fees”) as provided in the Offer Terms.  You further agree that Coinme may deduct its fees from the amount of U.S. dollars dispensed or virtual currency sent to you. 

5.      CANCELLATIONS; REFUNDS

 

All virtual currency purchases and sales are final, and there are no refunds or cancellations, except as otherwise provided in these Terms of Use and Sale or as required by law.  Coinme reserves the right to refuse or cancel purchases or sales at any time, in its sole discretion, before completing such purchase or sale.

 

6.      ACCEPTABLE USE

 

By accessing and using our Services, you agree that you will not violate any law, contract, intellectual property or other third-party right, or commit a tort, and that you are solely responsible for your conduct while using our Services.  You further agree that you will abide by these Terms and will not:

 

·        Use our Services in any manner that could interfere with, disrupt, negatively affect, or inhibit other users from fully enjoying our Services, or that could damage, disable, overburden or impair the functioning of our Services in any manner, including any physical damage or defacement of the Kiosk;

 

·        Use our Services to pay for, support, or otherwise engage in any illegal activities, including, but not limited to illegal gambling; illegally acquired music, movies or other content; sexually-oriented materials or services; fraud; money-laundering; terrorist financing; or the purchase or sale of illegal or controlled substances.

 

·        Use any robot, spider, crawler, scraper, or other automated means or interface not provided by us to access our Services or to extract data;

 

·        Use any hardware or software to bypass, disable, or interfere with the Services, or the Verification Process;

·        Use or attempt to use another user’s account without authorization;

 

·        Attempt to circumvent any content filtering techniques we employ, or attempt to access any service or area of our Services that you are not authorized to access;

 

·        Develop or deploy any third-party applications, software, or hardware that interact with our Services without our prior written consent;

 

·        Provide false, inaccurate, or misleading information; and

 

·        Encourage or induce any third party to engage in any of the activities prohibited under these Terms of Use and Sale.

7.      ASSUMPTION OF RISK

 

You acknowledge and agree that there are risks associated with utilizing the Services for the purchase and sale of virtual currency including, but not limited to, the risk of failure of hardware, software and Internet connections, the risk of malicious software introduction, and the risk that third parties may obtain unauthorized access to your Personal Information and other information stored with us.  You acknowledge and agree that Coinme will not be responsible for any communication failures, disruptions, errors, distortions or delays you may experience when using the Services, however caused.

Coinme takes no responsibility for and will not be liable for any losses, damages or claims arising from the use of our Services, including, but not limited to, any losses, damages or claims arising from (a) loss of your virtual currency due to unauthorized completion of an Order by a third party, including but not limited to unauthorized completion resulting from your leaving a Kiosk unattended while completing a transaction, (b) server failure or data loss, (c) incorrectly constructed transactions or mistyped wallet address; (d) "phishing," viruses, third-party attacks, or any other unauthorized third-party activities, or (e) any unauthorized access to our Services via your computer or mobile device.

Coinme does not guarantee the value of any virtual currency.  You acknowledge and understand that the price or value of virtual currency is highly volatile.  Virtual currency sales via the Services depend on the availability of virtual currency to Coinme or cash at a Kiosk, and you acknowledge that it may be impossible to buy or sell virtual currency at any price through the Services.

8.      DISCLAIMER

 

EXCEPT AS EXPRESSLY PROVIDED TO THE CONTRARY IN A WRITING BY US, OUR SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS.  WE EXPRESSLY DISCLAIM, AND YOU WAIVE, ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE AND NON-INFRINGEMENT AS TO OUR KIOSK AND SERVICES, INCLUDING THE INFORMATION, CONTENT AND MATERIALS CONTAINED THEREIN.

Some jurisdictions do not allow the disclaimer of implied terms in contracts with consumer
s, so some or all of the disclaimers in this section may not apply to you.

 

9.      LIMITATION OF LIABILITY

 

IN NO EVENT SHALL COINME, OUR DIRECTORS, MEMBERS, EMPLOYEES OR AGENTS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, OR ANY OTHER DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO LOSS OF USE, LOSS OF PROFITS OR LOSS OF DATA, WHETHER IN AN ACTION IN CONTRACT, TORT (INCLUDING BUT NOT LIMITED TO NEGLIGENCE) OR OTHERWISE, ARISING OUT OF OR IN ANY WAY CONNECTED WITH THE USE OF OR INABILITY TO USE OUR KIOSK OR SERVICES OR ANY PURCHASE OR SALE TRANSACTION OCCURRING VIA A KIOSK, INCLUDING WITHOUT LIMITATION ANY DAMAGES CAUSED BY OR RESULTING FROM RELIANCE BY ANY USER ON ANY INFORMATION OBTAINED FROM COINME, OR THAT RESULT FROM MISTAKES, OMISSIONS, INTERRUPTIONS, DELETION OF FILES OR EMAIL, ERRORS, DEFECTS, VIRUSES, DELAYS IN OPERATION OR TRANSMISSION OR ANY FAILURE OF PERFORMANCE, WHETHER OR NOT RESULTING FROM ACTS OF GOD, COMMUNICATIONS FAILURE, THEFT, DESTRUCTION OR UNAUTHORIZED ACCESS TO COINME’S RECORDS, PROGRAMS OR SERVICES. 

 

IN NO EVENT SHALL THE AGGREGATE LIABILITY OF COINME, WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE, WHETHER ACTIVE, PASSIVE OR IMPUTED), PRODUCT LIABILITY, STRICT LIABILITY OR OTHER THEORY, ARISING OUT OF OR RELATING TO THE USE OF OR INABILITY TO USE THE SERVICES, ANY PURCHASE OR SALE TRANSACTION OCCURRING VIA THE SERVICES, OR TO THESE TERMS OF USE AND SALE, EXCEED THE FEES PAID BY YOU TO COINME (IF ANY) DURING THE 6 MONTHS IMMEDIATELY PRECEDING THE DATE OF ANY CLAIM GIVING RISE TO SUCH LIABILITY. 

 

Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages.  Accordingly, some of the limitations of this section may not apply to you.

10.         INDEMNITY

You agree to defend, indemnify, and hold harmless Coinme (and each of our officers, directors, members, employees, agents and affiliates) from any claim, demand, action, damage, loss, cost, or expense, including without limitation reasonable attorneys’ fees, arising out or relating to (a) your use of, or conduct in connection with our Services; (b) your violation of these Terms of Use and Sale; or (c) your violation of any rights of any other person or entity.  If you are obligated to indemnify us, we will have the right, in our sole discretion, to control any action or proceeding and determine whether we wish to settle it, and if so, on what terms. 

11.         APPLICABLE LAW; ARBITRATION

PLEASE READ THE FOLLOWING PARAGRAPH CAREFULLY BECAUSE IT REQUIRES YOU TO ARBITRATE DISPUTES WITH US AND IT LIMITS THE MANNER IN WHICH YOU CAN SEEK RELIEF.

You and Coinme agree to arbitrate any dispute arising from these Terms of Use and Sale or your use of any of the Services, except for disputes in which either party seeks equitable and other relief for the alleged unlawful use of copyrights, trademarks, trade names, logos, trade secrets or patents.  ARBITRATION PREVENTS YOU FROM SUING IN COURT OR FROM HAVING A JURY TRIAL.  You and Coinme agree to notify each other in writing of any dispute within thirty (30) days of when it arises.  Notice to Coinme shall be sent to support@coinmekiosk.com.  You and Coinme further agree: (a) to attempt informal resolution prior to any demand for arbitration; (b) that any arbitration will occur in Seattle, Washington; (c) that arbitration will be conducted confidentially by a single arbitrator in accordance with the rules of JAMS; and (d) that the state or federal courts in the state of Washington, King County, have exclusive jurisdiction over any appeals of an arbitration award and over any suit between the parties not subject to arbitration.  Other than class procedures and remedies discussed below, the arbitrator has the authority to grant any remedy that would otherwise be available in court.  Any dispute between the parties will be governed by these Terms of Use and Sale and the laws of the State of Washington and applicable United States law, without giving effect to any conflict of laws principles that may provide for the application of the law of another jurisdiction.  WHETHER THE DISPUTE IS HEARD IN ARBITRATION OR IN COURT, YOU AND COINME WILL NOT COMMENCE AGAINST THE OTHER A CLASS ACTION, CLASS ARBITRATION OR REPRESENTATIVE ACTION OR PROCEEDING.

12.         TERMINATION

Notwithstanding anything to the contrary herein, Coinme reserves the right, without notice and in its sole discretion, to terminate your permission to use the Services, and to block or prevent your future access to and use of the Services.

13.         MISCELLANEOUS

(a)             Severability.  The invalidity or unenforceability of any of these Terms of Use and Sale shall not affect the validity or enforceability of any other of these Terms of Use and Sale, all of which shall remain in full force and effect. 

(b)             Survival.  Sections 8-11 and 13 shall survive any termination or expiration of these Terms of Use and Sale.