In order to start trading at our company, it is necessary to open a BITPoint SG general account.
*Free account opening and account management fee
Step 1: Account opening
  • Click "Sign Up".
  • Kindly agree to the “Terms of Agreement” and input all the necessary information on the application form.
  • * fields are required.
Step 2: Details confirmation
  • Kindly confirm the details you have filled in the form.
  • Click on the “Next” button should there be no error in the input content.
  • Click “Confirm” to return to the previous page if you wish to modify the details
Step 3: Submission of personal identification documents
  • “Document upload” screen will be displayed once you click on the “Next” button.
  • Click on the “Upload” button to submit your identification documents.
Step 4: Completion of application
  • We will send you a notice on completion of application to your registered e-mail address.
Step 5: Review of application
  • BITPoint SG will make a predetermined review on your application
Step 6: Completion of account opening
  • We will be sending a “Notice of completion of the general account opening” to your registered e-mail address
  • Kindly change your login password upon logging in for the first time.
Step 7: Start trading
  • Please be sure to transfer the fund in the name of yourself (same as your BITPoint SG account) to get approved.
  • Note that the payment will not be processed should the name of the bank account is different from the name of the BITPoint SG account.
  • Kindly check your account number at the time of transfer.

Criteria

  1. You must be at least 21 years old to sign up for a BITPoint SG account.
  2. Require a registered e-mail address and mobile number which can be contacted.
  3. You must be responsible and liable for all personal documents submitted.
  4. By using these services, you have agreed on the Terms of Use and all other attached clauses.

We will conduct a prescribed judgment after reviewing the application for opening an account.
*the reason for rejection will not be disclosed


Identification documents

Please submit the following documents:
  1. Passport copy or;
  2. Identification card (front and back)
  3. Any form of documents containing your name and address (Utility bill etc.)
For foreign nationals, please submit additional documents as follow:
  1. Residence card or any form of special permanent resident proof (front and back)
  2. Please ensure that the card/proof is within the validity period
  3. Kindly submit the page showing the account number of the designated financial institution and the account holder’s name to prevent deficiency due to the difference in the name at the time of withdrawal.

1. Trading Channels

Trades can be performed online through our website or dedicated application using computers, tablets, smartphones, or other electronic devices. We do not accept orders through customer support, by email or telephone.

* Some services may not be available on certain devices.

2. Trading Time

Trading of cryptocurrency is available 24/7.

  • Trades cannot be performed during system maintenance.
  • We will notify before performing system maintenance.
  • * Trading times may be changed whenever necessary.
3. Trading Currency Pairs
  • A currency pair is the set of two currencies, displayed side by side, that are traded in a cryptocurrency trade.
  • The amount following the pair indicates the amount of money necessary to trade one unit of the cryptocurrency on the left using the fiat currency on the right.
  • * ETH/BTC indicates the amount of BTC necessary to purchase one ETH.
BTC = bitcoin; ETH = Ethereum; JPY = Japanese yen; USD = U.S. dollar; EUR = euro; AUD = Australian dollar; SGD = Singapore dollar; HKD = Hong Kong dollar; CNY = Chinese renminbi; IDR = Indonesian rupiah; PHP = Philippine peso; INR = Indian rupee
4. Order Types
Market Orders This is an order method in which the customer does not specify a price. When a market buy order is placed, the order quantity is filled beginning with the lowest-priced sell order currently available. Likewise, when a market sell order is placed, the order quantity is filled beginning with the highest-priced buy order currently available. Batch sell orders, partial liquidation orders, total liquidation orders, batch liquidation orders, batch long position liquidation orders, and batch short liquidation orders are executed as market orders
Limit orders Limit orders are orders with conditions set to buy if the price falls below a specified point or to sell if the price surpasses a specified point. There are instances in which only part of a limit order is executed; in these cases, the remaining order will remain active until executed or until cancelled by the customer.
Stop-loss orders Stop-loss orders are market orders with conditions set to buy if the price surpasses a specified point or to sell if the price falls below a specified point.
5. Slippage

Slippage refers to a situation in which there is a difference between the price specified by the 4 customer (the price displayed on screen when placing an order) and the actual execution price due to reasons such as market changes after an order is placed. In some cases, slippage may be beneficial to the customer, but it may also be detrimental; however, we bear no liability whatsoever in relation to slippage. Slippage can occur with market orders and stop-loss orders.

Bit Point Singapore Co., Ltd. (hereinafter referred to as "the Company") separates and manages the assets deposited by the customer and the assets owned by the company.

Likewise, digital currencies are managed separately by separating the cryptocurrency of the customer's possession from the digital currency of our company's possession.

In order to prevent confusion with the Company's assets (including the cryptocurrency held by the Company), the cash received by customers (Deposit money of general account) will be accurately record on the system.

Customer - BITPoint SG
(1) Depositing money

Money deposited by customers must be in Singapore Dollar. When making deposits, money must be transferred to our designated bank account. Money transferred to our designated bank account will be reflected in the customer’s user account once we confirm payment; accordingly, please be aware that it may take time for transferred amounts to be reflected in user accounts.

  • Please be sure to deposit money using the same name as your identity card and our account. We will not accept payment from a bank account other than the name of the person in question, including family members.
  • Deposit can not be handled during service downtime due to maintenance of financial institution at which transfer is made, etc.
  • We can not receive immediate deposit for our daily processing time zone (SGT 15:00 every trading day).
  • If immediate deposit is completed in the daily processing time zone (SGT 15:00 every trading day), immediate deposit is displayed as error, but payment is done normally. However, please be aware that the reflection of deposits to the trading site will be on the next business day.
  • Please note that the daily processing time may not end on time (16:10) in advance.
(2) Withdrawing money

Customers can have all or part of the withdrawable amount of their account returned to them. However, customers cannot request withdrawal if the withdrawable amount is less than the withdrawal fee. Withdrawn money will be transferred to a bank account in the customer’s name. The return of deposited money generally takes two banking days from the date of the request, except in cases where we notify the customer otherwise due to reasonable causes.

  • In addition, if the withdrawal request date falls on Saturdays or Sundays, will hence be taken the same as Friday's withdrawal request.
  • Please understand beforehand that the bank transfer fee related to the transfer will be deducted from the customer's requested withdrawal amount.
    Kindly note that the withdrawal request will take two business day exclude weekends and public holidays.

The deadline for requesting withdrawal during business hour is SGT 15:00, and requests for withdrawals after SGT 15:00 will be handled on the next business day.

(3) Depositing bitcoins to user accounts

When depositing bitcoins in a user account, customers must transfer the bitcoins to the bitcoin address that we designate. Bitcoins transferred to the bitcoin address that we designate will be reflected in the customer’s user account once we confirm the transfer during our business hours; accordingly, please be aware that it may take time for bitcoin transfers to be reflected in user accounts.

(4) Withdrawing bitcoins from user accounts
  • Customers can withdraw all or part of the bitcoins deposited in their user account.
  • To withdraw bitcoins from your user account, please make a withdrawal request through the trading screen.
  • The withdrawal of bitcoins generally takes two banking days from the date of the request, except in cases where we notify the customer otherwise due to reasonable causes.

Transfer of Cryptocurrency

When remitting the cryptocurrency, please select “Transfer” > “Digital Asset” > “Withdraw Digital” after logging in to the trading site. The following cryptocurrency remittance screen will be displayed. After selecting the cryptocurrency to be remitted, please input "remittance address (recipient's receipt address)" and "remittance amount". Because we are responsible for remittance fee, you can remit cryptocurrency anywhere in the world with no remittance charge.

Outline of remittance

Accepted cryptocurrencies Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP)
Remittance charge Free
Minimum transfer limit Bitcoin (BTC) can be specified up to 8 decimal places if it is more than 0.01 BTC
Ethereum (ETH) can be specified up to 8 decimal places if it is more than 0.1 ETH
Bitcoin Cash (BCH) can be specified up to 8 decimal places if it is more than 0.02 BCH
Litecoin (LTC) can be specified up to 8 decimal places if it is more than 0.1 LTC
Ripple (XRP) can be specified up to 6 decimal places if it is more than X10 XRP
Maximum transfer limit Bitcoin (BTC) can be specified up to 1000 BTC
Bitcoin Cash (BCH) can be specified up to 1000 BCH
Ethereum (ETH) can be specified up to 5000 ETH
Litecoin (LTC) can be specified up to 1000 LTC
Ripple (XRP) can be specified up to the upper limit value of 100,000 XRP
Amendment/cancellation of remittance Amendment and cancellation after the completion of remittance are not allowed.
Kindly confirm that there is no mistake in the remittance address, amount and the cryptocurrency used.
*Accepted addresses for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) are different.
Duration 10 to 30 minutes
Points to note on remitting Ripple 20 Ripple (XRP) will be incurred at the recipient’s expenses as the cost for activating the address on the blockchain. Hence,  if the transfer amount is less than 20 ripple (XRP), remittance will be an error and refunded (returned) to the remitter.

Acceptance of Cryptocurrency

To receive cryptocurrency, after logging in to the trading site, please select “Transfer” > “Digital Asset” > “Withdraw Digital”. Since the receipt address for each cryptocurrency is displayed as follows, please use "receipt address (customer's exclusive receipt address)". You can receive the cryptocurrency from anywhere in the world with no payment fee.

Outline of receipt

Accepted cryptocurrencies Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP)
Receipt charge Free
Minimum transfer limit We accept amount up to 8 decimal places for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC).
Ripple (XRP) will be accepted up to 6 decimal places
Maximum transfer limit There is no limit in the amount received for both the upper and lower limit.
Amendment/cancellation of remittance Amendment and cancellation after the completion of remittance are not allowed.
Kindly confirm that there is no mistake in the remittance address, amount and the cryptocurrency used.
*Addresses for Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP) are different.
Duration Instantly
Points to note on remitting Ripple 20 Ripple (XRP) will be incurred at the recipient’s expenses as the cost for activating the address on the blockchain. Hence,  if the transfer amount is less than 20 ripple (XRP), remittance will be an error and refunded (returned) to the remitter.

About BITPoint Japan

Company Registration Name 株式会社ビットポイントジャパン  Visit Us
Company Registration English Name BITPoint Japan Co., Ltd
Japanese Cryptocurrency Exchange License Kanto Finance Director No. 00009  Download
Japanese Loan Funder Registration License Governor of Tokyo (1) No. 31660
Principal Representative Director of the Board of Directors Oda Nobu
Company Address 〒106-6236 3-2-1, Roppongi, Minato-ku, Tokyo, Sumitomo Real Estate Roppongi 36ー36
Date of Establishment March 3, 2016
Capital Amount 4.4 Billion Yen
Major Shareholder Remixpoint  Learn More

BITPoint Custody

BITPoint Singapore is offering Cryptoasset custodian service using the blockchain technology and carrying out the functions of identity, trusting and capital asset management.

Segregated offline storage
  • Disconnected and dedicated accounts for all your assets
Financial and security control
  • Regulated and supported by the Japan government
Efficient and effective

  • 24/7 on standby to move your assets
Open for both individuals and institutions!

contact us at [email protected] for more details!

The Terms of Use constitute a legally binding agreement between you (hereinafter referred to as the “User”) and BITPoint SG (hereinafter referred to as “BITPoint SG”) that applies to the User's access and use of this website, any and all services, products and content provided by BITPoint SG.

As used herein, “BITPoint SG” refers to the company BITPoint SG Company, including but not limited to, its owners, directors, investors, officers, employees, agents or other related parties, unless otherwise provided herein.

The Terms of Use contain important provisions, which the User must consider carefully when choosing whether to visit the Site and use the services, products and content provided by BITPoint SG. Please read the Terms of Use carefully before agreeing to them or accessing the Site and using the services, products and content of BITPoint SG.

The User is solely responsible for understanding and complying with any and all laws, rules and regulations of the User's specific jurisdiction that may be applicable to the User in connection with the use of any and all services, products and content provided by BITPoint SG.

The Terms of Use incorporate BITPoint’s Privacy Notice (as required under the Singapore Personal Data Protection Act 2012), as well as any other policies published on the Site by reference, so by accepting the Terms of Use, the User agrees with and accepts all the policies published on the Site.

IF THE USER DOES NOT ACCEPT THE TERMS OF USE, THE USER SHALL NOT ACCESS THIS SITE AND SHALL NOT USE ANY OF BITPOINT SG’S SERVICES, PRODUCTS AND CONTENT.

1. DEFINITIONS

1.1. Capitalized terms used in the Terms of Use shall be interpreted in accordance with the definitions provided below:

1.1.1. Account: means an account registered by the User on the Platform.

1.1.2. Assets: means Digital Asset and/or fiat currency.

1.1.3. Base Currency: means the first symbol in the trading pair.

1.1.4. Buyer: means the User who submits an Order to buy Digital Asset through the Platform.

1.1.5. Commission: means a fee charged by or on behalf of any third party (including but not limited to banks, non-bank financial institutions and payment service providers).

1.1.6. Deposit: means a Transaction involving transfer of Assets to the Account.

1.1.7. Digital Asset: means peer-to-peer decentralized digital representation of value (e.g. bitcoins, ethers, other digital tokens, etc.).

1.1.8. Fiat currency: means government-issued currency, that is designated as legal tender in its country of issuance through government decree, regulation, or law.

1.1.9. Margin Trading: means leverage trading where the User may trade with borrowed Assets instead of the User's own (i.e. open a position using less of own Assets than the actual amount of this position).

1.1.10. Order: means the User's instruction to buy or sell Digital Assts.

1.1.11. Platform: means an environment created by BITPoint SG that allows Users to trade Digital Asset.

1.1.12. Seller: means the User who submits an Order to sell Digital Asset through the Platform.

1.1.13. Services: means all and any service provided by BITPoint SG.

1.1.14. Site: means BITPoint SG’s website at www.bitpoint.com.sg

1.1.15. Transaction: means (i) transfer of Digital Asset and/or Fiat currencies by the User to the User's Account (“Deposit Transaction”); (ii) transfer of Digital Asset and/ or Fiat currencies amongst the Users (“Trading Transaction”), (iii) withdrawal of Digital Asset and/or Fiat currencies from the User's Account (“Withdrawal Transaction”).

1.1.16. Transaction Fee: means a fee which is payable by the Seller or the Buyer to BITPoint SG for each completed Transaction.

1.1.17. Transaction Price: means the total price paid by the Buyer in respect to each Transaction performed via the Services.

1.1.18. User: means an individual or an entity that uses the Services and/or accesses the Site.

1.1.19. Voucher: means an alphanumeric redeemable code, which can be used to transfer Digital Asset between Accounts.

1.1.20. Withdrawal: means a Transaction involving a transfer of Assets from the User's Account to the User's bank account or any designated account, or to an account opened in any other financial institution.

1.21. Where the context so admits words denoting the singular shall include the plural and vice versa.

2. THE USER’S USE OF THE SITE

2.1. The Services allow all Users of the Platform to trade Digital Asset with other Users.

2.2. Depending on the laws and regulations that the User is subject to and governed by (whether such laws and regulations are provided by the User's place of residence and/or place from which User is accessing the Site or otherwise), the User may not be able to use all the functions of the Site. For the avoidance of doubt, it is the User's sole responsibility to follow the laws and regulations that the User is subject to and governed by (whether such laws and regulations are provided by the User's place of residence and/or place from which User is accessing the Site or otherwise) when accessing the Site. In contemplating accessing any functions of the Site, Users should seek independent legal advice from duly qualified persons.

2.3. The User acknowledges and agrees that, when entering into Transactions, the User is trading with other Users, and that BITPoint SG acts only as an intermediary in such Transactions, not as any counterparty to any Transaction and/or any participant in any Transaction.

3. THE USER’S RIGHTS AND RESPONSIBILITIES

3.1. The User has the right to enter and use the Site and the Services, as long as the User agrees to and complies with the Terms of Use. By using the Site, the User agrees to accept and comply with the terms and conditions stated herein.

3.2. The User undertakes to read the entire Terms of Use carefully before using the Site or any of the Services.

3.3. The User undertakes to comply with any and all applicable laws and regulations in the applicable jurisdiction(s) related to their use of the Services.

3.4. The User undertakes to regularly monitor all and any changes on the User's Account, including but not limited to the Account balance matters.

3.5. The User undertakes to immediately inform BITPoint SG about any unusual, suspicious, unclear or abnormal changes on the User's Account. In case of late informing or non-informing, the User shall be liable for any losses or damage caused by this breach of the Terms of Use and BITPoint SG reserves the right to take any further steps accordingly, including but not limited to reporting to the relevant state authorities.

3.6. The User agrees that, whenever a Transaction occurs, the Platform sends and receives the Assets to/from the Buyer’s and the Seller’s Accounts opened in their name and on their behalf.

3.7. The User undertakes to notify BITPoint SG immediately of any unauthorized use of the User's Account or password, or any other breach of security via email sent to  [email protected]. Any User who violates this Terms of Use may have their Account terminated, and thereafter held liable for any losses or damage incurred by BITPoint SG or any other User.

3.8. The User undertakes not to use the Service to perform criminal activity of any sort, including but not limited to, money laundering, illegal gambling operations, financing terrorist organizations, or malicious hacking.

3.9. The User is responsible for any and all damages caused and all liability actions brought against BITPoint SG for infringement of any third-party rights or violation of any applicable laws.

3.10. Nothing in the Terms of Use excludes or limits the liability of the User for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of law or any other liability which may not be limited or excluded by law.

3.11. Users are solely responsible for determining whether any contemplated Transaction is appropriate for them based on their personal goals, financial status and risk willingness.

3.12. All added payment instruments to the User's Account, whether a bank account, credit card, debit card, or any other payment method, must be in the Account holder’s name. Any attempt to provide payment instruments in any third party’s name would constitute fraud and BITPoint SG shall have the right to terminate the User's Account and/or report such fraud to the relevant authorities.

4. THE USER’S REPRESENTATIONS AND WARRANTIES

4.1. By registering and creating an Account, the User expressly represents and warrants that the User:

  • follows the rules and laws in the User's country of residence and/or country from which the User accesses this Site and Services;
  • has accepted the Terms of Use;
  • is at least twenty-one (21) years of age and has the right to accept the Terms of Use and participate in transactions involving Digital Asset.

4.2. The User represents and warrants that the User will only use the Platform to perform Transactions in accordance with the conditions set forth in the Terms of Use and that they are duly authorised and have the capacity to enter into the Transactions on the Platform.

4.3. The User represents and warrants that the Assets deposited to the Account belong to the User and are derived from legal sources.

4.4. The User represents and warrants than the User shall withdraw any Digital Asset from the User's Account and deposit it only into the User's wallets, failing which BITPoint SG shall not be liable for the consequences of such withdrawal and deposit.

4.5. The User represents and warrants that all Transactions being carried out do not violate the rights of any third parties or contravene any applicable laws.

5. BITPoint SG'S RIGHTS AND RESPONSIBILITIES

5.1. BITPoint SG has the right to suspend the User's Account and block all transactions involving Digital Asset and/or Fiat currency contained therein in case of any breach, non-fulfilment or unduly fulfilment of the Terms of Use by the User.

5.2. BITPoint SG undertakes to provide the Services with the utmost effort, due care and in accordance with the Terms of Use.

5.3. BITPoint SG’s responsibility shall be limited to using reasonable technical efforts to ensure the receipt of the Digital Asset transferred. When initiating Digital Asset transactions to anyone who is not a BITPoint SG User, BITPoint SG’s responsibility shall be limited to ensuring the transfer of the necessary technical data to the relevant Digital Asset network.

5.4. To the extent permitted by law, BITPoint SG is not responsible for any damages, loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, indirect or consequential loss unless the loss suffered is caused by a breach of the Terms of Use by BITPoint SG.

5.5. BITPoint SG is not responsible for any malfunction, breakdown, delay or interruption of the Internet connection or for any unavailability of the Site.

5.6. BITPoint SG is not responsible for the delay in the processing of payments caused by any third parties and operators of such Transactions.

5.7. In case of fraud, BITPoint SG undertakes to report all the necessary information, including names, addresses and all other requested information, to the relevant authorities dealing with fraud and breaches of the law. The Users recognize that their Account may be frozen at any time at the request of any competent authority investigating a fraud or any other illegal activity.

5.8. Nothing in the Terms of Use excludes or limits the responsibility of BITPoint SG for fraud, death or personal injury caused by their negligence, breach of the terms implied by operation of the law or any other liability which may not be limited or excluded by law.

6. BITPoint SG’S REPRESENTATIONS AND WARRANTIES

6.1. BITPoint SG shall provide the Services with reasonable care and skill and in accordance with the Terms of Use.

6.2. All buy and sell Orders made on the Platform will be managed in an anonymous manner so that Buyers and Sellers are not acquainted with each other and the information of each Buyer and Seller is not disclosed to one another. The Transaction Price is calculated on the basis of actual matched orders made by the Buyers and Sellers participating in the bidding process on the Platform combined with the applicable Transaction Fee.

6.3. BITPoint SG represents and warrants that once the Orders to buy or sell Digital Asset are matched, such orders may not be cancelled or reversed. It holds all Digital Asset acquired by each User in the User's Account and on the respective User's behalf.

7. INTELLECTUAL PROPERTY RIGHTS

7.1. All content on this Site is the property of BITPoint SG and is protected by copyright, patent, trademark and any other applicable laws, unless otherwise specified.

7.2. The trademarks, trade names, service marks and logos of BITPoint SG and others used on the Site (hereinafter the “Trademarks”) are the property of BITPoint SG and its respective owners. The software, applications, text, images, graphics, data, prices, trades, charts, graphs, video and audio materials used on this Site belong to BITPoint SG. The Trademarks and other content on the Site shall not be copied, reproduced, modified, republished, uploaded, posted, transmitted, scraped, collected or distributed in any form or by any means, no matter manual or automated. The use of any content from the Site on any other site or a networked computer environment for any other purpose is strictly prohibited; any such unauthorized use may violate copyright, patent, trademark and any other applicable laws and could result in criminal and/or civil penalties.

7.3. BITPoint SG supports the protection of intellectual property. If the User would like to submit (i) a trademark claim for violation of a mark on which the User holds a valid, registered trademark or service mark, or (ii) a copyright claim for any material on which the User hold a bona fide copyright, please send BITPoint SG an email immediately at [email protected]

8. THE USER VERIFICATION

8.1. Identification and verification procedures (also known as 'Know Your Customer' or 'KYC') are required for all the Transactions. If the User refuses to provide the required documents and information required under KYC, BITPoint SG reserves the right to immediately terminate the Account and/or the provision of the Services to the User.

8.2. The User undertakes to provide BITPoint SG with accurate, genuine, and relevant documents and personal information contained therein. In case the User provides counterfeit documents and/or false personal information, such behaviour will constitute fraudulent activity and BITPoint SG reserves the right to terminate the Account and/or the Provision of the Services to the User.

8.3. The User hereby authorises BITPoint SG to, directly or indirectly (through third parties), make any inquiries which BITPoint SG considers necessary to verify the relevance and accuracy of the information provided for verification and KYC purposes.

9. ACCOUNT MAINTENANCE

9.1. BITPoint SG is vigilant in maintaining the security of the Site and the Service. By registering with BITPoint SG, the User agrees to provide BITPoint SG with current, accurate and complete personal information as prompted by the registration process and to keep such information updated from time to time.

9.2. Each User is allowed to register and hold only one Account on the Platform. Any additional Account tied to a User may be suspended or terminated.

9.3. The User agrees that the User shall not use any Account other than their own or access the Account of any other User at any time, and/or assist others in obtaining unauthorized access to the Site and/or the Account of other User(s).

9.4. BITPoint SG reserves the right to recommend amount limits for the Account funding/withdrawal. BITPoint SG may recommend daily, monthly and per onetransaction amount limits.

9.5. The User is responsible for maintaining the confidentiality of information on their Account, including but not limited to their password, email, wallet address, wallet balance and of all activities including Transactions made via their Account. If there is any suspicious activity found to be related to the User's Account, BITPoint SG may request additional information from the User, including but not limited to authenticating documents and freeze the Account for the review time. The User is obligated to comply with these security requests, failing which BITPoint SG may terminate the Account.

9.6. Creation or use of the Accounts without obtaining a prior express permission from BITPoint SG will result in the immediate suspension of all respective Accounts, as well as all pending Orders. Any attempt to do so or to assist others (whether Users or other third parties), or distribution of instructions, software or tools for that purpose will result in termination of such Users’ Accounts. Termination is not an exclusive remedy for such a violation and BITPoint SG may decide to take further action against the User including but not limited to initiating legal action and commencing legal proceedings.

9.7. In case if it has been more than six (6) months since the last sign-in into the Account or the last deposit of Assets by the User, BITPoint SG has the right to classify the Account as abandoned. In that case Storage fee will be applied to such Account(s) with at least seven (7) days prior email notification to the User. BITPoint SG will charge the Storage fee set forth herein. Abandoned Accounts with zero balances shall be deactivated and/or terminated without any further reference to the User.

10. TRANSACTIONS

10.1. The Platform allows the User to submit the Orders to buy or sell Digital Asset.

10.2. The User recognizes that the Order should only be submitted after careful consideration and the User understands and accepts consequences of such execution. The User agrees that as soon as the Order is executed, such transaction is irreversible and may not be cancelled. Transactions will be executed instantly upon the matching of the Buyer's and the Seller's Orders without prior notice to the Seller and the Buyer and Transactions will be considered to have taken place at the execution date and time.

10.3. The User acknowledges and agrees that in case the destination tag is not specified, is incorrectly indicated (in particular XRP, XLM) or the reference number is incorrectly specified (for Fiat transactions), the User may lose the deposit or at least, the processing speed of such requests will be made with low priority.

10.4. Minimum and maximum order amount varies for each trading pair and will be shown on the trade page when placing an Order.

10.5. The User acknowledges and agrees that Deposit and Withdrawal Transaction(s) in Fiat currency may be delayed due to reasons beyond BITPoint SG’s control, such as bank verifications and other checks. Similarly, and due to the inherent nature of Digital Asset networks, the User acknowledges and agrees that depositing and withdrawing Digital Asset into/from their Account may not be immediate.

10.6. In case the User discovers suspicious or unusual transaction activity, including but not limited to unknown deposits and withdrawals on their Account that was not initiated by the User, the User shall immediately notify BITPoint SG and follow the instructions sent by BITPoint SG. Otherwise, BITPoint SG reserves the right to freeze or suspend the Account until the investigation is concluded.

10.7. BITPoint SG may be forced to cancel or recall already executed Withdrawal Transaction(s) at a request of financial institutions, including but not limited to banks, which are involved in settlement of such Transactions. In such cases the User shall fully cooperate with BITPoint SG in order to discover the reasons for such request and resolve any such issues.

11. ILLEGAL TRANSACTIONS

11.1. BITPoint SG reserves the right to suspend or terminate User Account(s) at any time if BITPoint SG has any reasons to believe to be required to do so by the law or in order to comply with recommendations issued by a relevant government authority or recognized body for the prevention of financial crime.

11.2. It is strictly forbidden to use the Account for any illegal purposes. BITPoint SG will report any suspicious activity to the relevant law enforcement agencies.

11.3. The User shall ensure that they do not use the Services for or in relation to:

  • money laundering, terrorist financing, proliferation of weapons of mass destruction;
  • human trafficking;
  • any goods or services that are illegal or the promotion, offer or marketing of which is illegal or that are offered in connection with illegal, obscene or pornographic content, depict children or minors in sexual postures, depict means of propaganda or signs of unconstitutional organisations glorifying war or violating human dignity;
  • any goods or services, promotion, offer or marketing of which would violate copyrights, industrial property rights or other rights of any person;
  • archeologically findings;
  • drugs, narcotics or hallucinogens;
  • weapons of any kind;
  • illegal gambling services;
  • Ponzi, pyramid or any other “get rich quick” schemes;
  • goods that are subject to any trade embargo;
  • media that is harmful to minors and violates laws and, in particular, the provision in respect of the protection of minors;
  • body parts or human remains;
  • protected animals or protected plants;
  • weapons or explosive materials; or
  • any other illegal goods, services or transactions.

12. ACCOUNT SECURITY

12.1. The User is responsible for maintaining the confidentiality of their Account credentials, including, but not limited to the password, email, wallet address, balance and all activity including Transactions carried out through the Account.

12.2. BITPoint SG personnel will never ask Users to disclose their password. Should the User(s) receive any message requesting for the User's password, or accesses any website that asks for the password, other than the BITPoint SG Site, the User should report such message and/or website immediately to BITPoint SG.

12.3. It is advisable to change the User's password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to the Account. BITPoint SG also advises the User not to choose a password that may be easily guessed from information someone might know or gather about the User or a password that has a meaning. The User must never allow anyone to access the User's Account or watch the User accessing the User's Account.

12.4. If the User has any security concerns about the User's Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorization or otherwise compromised, the User is advised to change the password immediately. The User must contact Support Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorized use of the Account, login details, password or other security features. Any undue delay in notifying BITPoint SG may not only affect the security of the Account but may result in the User being liable for any losses as a result. If the User suspects or has any reason(s) to believe that someone else accessed the User's Account, the User should also contact an appropriate government agency and report the incident.

12.5. The User must take reasonable care to ensure that the User's e-mail account(s) are secure and only accessed by the User, as the User's e-mail address may be used to reset passwords or to communicate with the User about the security of the Account. BITPoint SG cannot be liable for the breach of an e-mail account resulting an unauthorized Transaction to be executed with proper confirmation. In case any of the e-mail addresses registered with the User's Accounts are compromised, the User should without undue delay after becoming aware of this, contact BITPoint SG’s support service and also contact the User's e-mail service provider and do all such necessary actions to mitigate any risk or damage including but not limited to changing the e-mail account password and securing the e-mail account.

12.6. Irrespective of whether the User is using a public, a shared or the User's own computer to access the Account, the User must always ensure that the User's login details are not stored by the browser, cached or otherwise recorded. The User should never use any functionality that allows login details or passwords to be stored by the computer the User is using.

12.7. Additional products or services the User uses may have additional security requirements and the User must familiarize themselves with those as notified to the User.

12.8. As an additional security measure, two-factor authentication must be enabled in order to make all Transactions.

13. CLOSURE OF ACCOUNT AND TERMINATION OF THE TERMS OF USE

13.1. The User close their Account at any time, following settlement of any pending transactions.

13.2. The User also agrees that BITPoint SG may at its sole discretion terminate the User's access to the Site and to the User's Account, including without limitation, limit, suspend or terminate the Service and the Users' Accounts, prohibit access to the Site and its content, services and tools, delay or remove hosted content and take technical and legal steps to keep the Users off the Site if BITPoint SG thinks that such User(s) are creating problems or possible legal liabilities, infringing the intellectual property rights of third parties or acting inconsistently with the letter or spirit of the Terms of Use. Additionally, BITPoint SG may, in appropriate circumstances and at its sole discretion, suspend or terminate Accounts of Users for any reason, including without limitation: (1) attempts to gain unauthorized access to the Site or another User's account or providing assistance to others' attempting to do so, (2) overcoming software security features limiting use of or protecting any content, (3) usage of the Service and/or the Site to perform illegal activities such as money laundering, illegal gambling operations, financing terrorism, or other criminal activities, (4) violations of the Terms of Use, (5) failure to pay or making fraudulent payment for Transactions, (6) unexpected operational difficulties, or (7) upon the request of law enforcement or other government agencies, if deemed to be legitimate and compelling by BITPoint SG, acting at its sole discretion.

13.3. BITPoint SG also reserves the right to cancel unconfirmed Accounts or Accounts that have been inactive for a period of six (6) months or more and/or to modify or discontinue the Site or Service. The User agrees that BITPoint SG will not be liable to them or to any third party for termination of their Account or access to the Site.

13.4. The suspension or termination of the Account shall not affect the payment of the Transaction Fee due for past Transactions. Upon termination, the User shall provide a valid bank account details or Digital Asset address to allow the transfer of any currencies deposited to the User's Account. BITPoint SG shall transfer the currencies as soon as possible following the User's request in the time frames specified by BITPoint SG.

13.5. BITPoint SG will send the credit balance of the User's Account to the User, however in some circumstances, a number of intermediaries may be involved in an international payment and these or the beneficiary bank may deduct charges. BITPoint SG will use reasonable efforts to ensure that such charges are disclosed to the User prior to sending the payment; however, the User acknowledges that it may not be possible in some in some instances to calculate such charges in advance, and the User agrees to be responsible for such charges.

14. SERVICES AVAILABILITY

14.1. All Services are provided “AS IS”, without guarantees of any kind, either expressed or implied.

14.2. BITPoint SG will strive to keep the Site up and running; however, all online services suffer from occasional disruptions and outages and BITPoint SG is not liable for any disruption or for any losses the User may suffer as a result. Thus, BITPoint SG does not provide any guarantees that access to the Site will not be interrupted or that there will be no delays, failures, errors, omissions or loss of transmitted information.

14.3. BITPoint SG will use reasonable endeavours to ensure that the User can normally access the Site in accordance with the Terms of Use. BITPoint SG may suspend use of the Site for maintenance and will make reasonable efforts in giving Users a notice. The User acknowledges that this may not be possible in case of any emergency where access to the Site may be restricted temporarily for any rectification and/or maintenance works.

15. FINANCIAL OR LEGAL ADVICE

BITPoint SG does not provide any financial, investment or legal advice in connection with the Services provided by BITPoint SG. BITPoint SG may provide information on the price, range, and volatility of Digital Asset and events that have affected the price of Digital Asset, but this should not be considered as an investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Asset and/or enter into any Transactions is the User's decision and BITPoint SG shall not be liable for any loss suffered as a result of any such decisions. In contemplating accessing any functions of the Site, Users should seek independent legal and investment and financial advice from duly qualified persons.

16. TAXATION

16.1. The User undertakes to pay all the User's taxes and duties, which can be resulted from the use of BITPoint SG Services and these should be paid according to the User's state of residence regulations and/or any other regulations relating to income declaration and taxation which may be applicable to the User.

16.2. BITPoint SG is not responsible for any violation by the User due to the User defaulting on the User's obligation to calculate and pay the relevant taxes and duties.

17. NOTICES AND COMMUNICATION

17.1. BITPoint SG reserves the right to send notices to and communicate with the User via any means of communication available to BITPoint SG, taking into account the contact details provided by the User when registering for an Account.

17.2. The User expressly agrees to receive any notices in electronic form and to be bound by them.

18. GOVERNING LAW AND DISPUTE RESOLUTION

The Terms of Use shall be governed by, and construed in accordance with, the laws of Singapore and BITPoint SG and the User(s) (collectively the “Parties” or singularly a “Party”) hereby irrevocably submit to the non-exclusive jurisdiction of the courts of Singapore and waive any objection to proceedings in any such court on the grounds of venue or on the grounds that the proceedings have been brought in an inconvenient forum. The submission by the Parties herein shall not affect the right of any Party to take proceedings in any other jurisdiction nor shall the taking of proceedings in any jurisdiction preclude any Party from taking out proceedings in any other jurisdiction.

19. LIMITATION OF LIABILITY

19.1. IN NO EVENT SHALL BITPOINT SG , ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND ALL THIRD PARTY SERVICE PROVIDERS BE LIABLE TO THE USER OR ANY OTHER PERSON OR ENTITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE OR CONSEQUENTIAL DAMAGES WHATSOEVER, INCLUDING ANY THAT MAY RESULT FROM (I) THE ACCURACY, COMPLETENESS OR CONTENT OF THIS SITE, THE SERVICES, AND/ OR THE PLATFORM(II) THE ACCURACY, COMPLETENESS OR CONTENT OF ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (III) THE SERVICES FOUND AT THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IV) PERSONAL INJURY OR PROPERTY DAMAGE OF ANY NATURE WHATSOEVER, (V) THIRD-PARTY CONDUCT OF ANY NATURE WHATSOEVER, (VI) ANY UNAUTHORIZED ACCESS TO OR USE OF OUR SERVERS AND/OR ANY AND ALL CONTENT, PERSONAL INFORMATION, FINANCIAL INFORMATION OR OTHER INFORMATION AND DATA STORED THEREIN, (VII) ANY INTERRUPTION OR CESSATION OF SERVICES TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (VIII) ANY VIRUSES, WORMS, BUGS, TROJAN HORSES OR THE LIKE, WHICH MAY BE TRANSMITTED TO OR FROM THIS SITE OR ANY SITES LINKED (THROUGH HYPERLINKS, BANNER ADVERTISING OR OTHERWISE) TO THIS SITE, (IX) ANY USER CONTENT OR CONTENT THAT IS DEFAMATORY, HARASSING, ABUSIVE, HARMFUL TO MINORS OR ANY PROTECTED CLASS, PORNOGRAPHIC, “X-RATED”, OBSCENE OR OTHERWISE OBJECTIONABLE AND/ OR (X) ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USER’S USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE, WHETHER BASED ON WARRANTY, CONTRACT, TORT OR ANY OTHER LEGAL OR EQUITABLE THEORY AND WHETHER OR NOT BITPOINT SG IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN ADDITION, THE USER SPECIFICALLY ACKNOWLEDGE AND AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THIS SITE OR THE SERVICES FOUND AT THIS SITE MUST BE COMMENCED WITHIN ONE (1) YEAR AFTER THE CAUSE OF ACTION ACCRUES, OTHERWISE SUCH CAUSE OF ACTION SHALL BE PERMANENTLY BARRED. IN ADDITION, THE USER SPECIFICALLY ACKNOWLEDGE AND AGREE THAT IN NO EVENT SHALL BITPOINT SG’S TOTAL AGGREGATE LIABILITY EXCEED THE TOTAL AMOUNT PAID BY THE USER FOR THE PARTICULAR SERVICES THAT ARE THE SUBJECT OF THE CAUSE OF ACTION. THE FOREGOING LIMITATION OF LIABILITY SHALL APPLY TO THE FULLEST EXTENT PERMITTED BY LAW AND SHALL SURVIVE ANY TERMINATION OR EXPIRATION OF THIS AGREEMENT OR THE USER’S USE OF THIS SITE OR THE SERVICES FOUND AT THIS SITE.

20. INDEMNITY

The User agrees to protect, defend, indemnify and hold harmless BITPoint SG and its officers, directors, employees, agents and third party service providers from and against any and all claims, demands, costs, expenses, losses, liabilities and damages of every kind and nature (including, without limitation, reasonable attorneys’ fees) imposed upon or incurred by BITPoint SG directly or indirectly arising from (i) the User's use of and access to this Site or the Services found at this Site; (ii) the User's violation of any provision of the Terms of Use or the policies or agreements which are incorporated herein; and/or (iii) the User's violation of any third-party right, including without limitation any intellectual property or other proprietary right. The indemnification obligations under this section shall survive any termination or expiration of the Terms of Use or the User's use of this Site or the Services found on this Site.

21. MODIFICATIONS AND AMENDMENTS

BITPoint SG reserves the right to amend or modify any portion of the Terms of Use at any time by publishing the revised version of the Terms of Use on the Site. The changes will become effective and shall be deemed accepted by the User, the first time the User uses the Services after the publishing of the revised Terms of Use and shall apply on a going-forward basis with respect to any activity initiated after the date of publishing. In the event that the User does not agree with any such modification, the User's sole and exclusive remedy is to terminate the use of the Services and Site, and close the Account. The User agrees that BITPoint SG shall not be liable to the User or any third party as a result of any losses suffered by any modification or amendment of the Terms of Use.

22. FORCE MAJEURE

If BITPoint SG delays or is unable to perform the Services outlined in the Terms of Use and/or its obligations hereunder due to factors beyond its control including but not limited to an Event of Force Majeure, change of law or change in sanctions policy, BITPoint SG will not have any responsibility to the User with respect to the Services provided hereunder and for a time period coincident with the event. An Event of Force Majeure includes earthquake, typhoon, flood, tidal wave, lightning, fire, plague, other epidemics, falling objects, war, hostilities, acts of terrorism, insurrection, strikes, riots, industrial dispute or any other events the occurrence and consequences of which BITPoint SG is unable to prevent or avoid.

23. LINKS TO THIRD-PARTY WEBSITES

This Site and the Services found at this Site may contain links to third-party websites that are not owned or controlled by BITPoint SG. BITPoint SG assumes no responsibility for the content, terms and conditions, privacy policies or practices of any third-party websites. In addition, BITPoint SG does not censor or edit the content of any third-party websites. By using this Site or the Services found at this Site, the User expressly release BITPoint SG from any and all liability arising from the User's use of any third-party website. Accordingly, BITPoint SG encourages the User to be aware when the User leaves this Site or the Services found at this Site and to review the terms and conditions, privacy policies and other governing documents of any other website that the User may visit.

CONTACT US

If you have any questions relating to the Terms of Use, your rights and obligations arising from the Terms of Use and/or your use of the Site and the Service, your Account or any other matter, please, contact [email protected]

This Privacy Notice (this “Notice”) applies to the collection, use and disclosure of an individual customer’s Personal Data (hereinafter defined) arising from goods and/or services offered by [BITPoint SG’s entity name] (collectively referred to as “BITPoint SG”).

1. General

1.1. This Notice provides information on the obligations and policies of BITPoint SG in respect of an individual’s Personal Data. BITPoint SG undertakes to use reasonable efforts in applying, where practicable, those principles and the processes set out herein to its operations.

1.2. BITPoint SG’s officers, management, and members of staff shall use reasonable endeavours to respect the confidentiality of and keep safe any and all Personal Data collected and/or stored and/or disclosed and/or used for, or on behalf of, BITPoint SG. BITPoint SG shall use reasonable endeavours to ensure that all collection and/or storage and/or disclosure and/ or usage of Personal Data by BITPoint SG shall be done in an appropriate manner and in accordance with the Act and this Notice.

1.3. By interacting with BITPoint SG and its related platforms (including but not limited to the Site), submitting information to BITPoint SG, or signing up for any products or services offered by BITPoint SG, the User agrees and consents to BITPoint SG as well as to its respective representatives and/or agents ("Representatives") (collectively referred to herein as "BITPoint SG", "us", "we" or "our") collecting, using, disclosing and sharing amongst themselves the User's Personal Data, and disclosing such Personal Data to BITPoint SG’s authorised service providers and relevant third parties in the manner set forth in this Notice.

1.4. This Notice supplements but does not supersede nor replace any other consents the User may have previously provided to BITPoint SG in respect of the User's Personal Data, and the User consents herein are additional to any rights which BITPoint SG may have at law to collect, use or disclose the User's Personal Data.

1.5. For the purposes of this Notice, in line with the provisions under the Singapore Personal Data Protection Act 2012 (No. 26 of 2012) (the “Act”), “Personal Data” shall mean data, whether true or not, about an individual customer who can be identified — from that data; or from that data and other information which an organisation has or is likely to have access. Such Personal Data shall also refer to that which is already in the possession of BITPoint SG or that which shall be collected by BITPoint SG in future.

2. Contacting the Data Protection Officer

2.1. Where the User legitimately requests access to and/or correction of Personal Data relating to the User, such Personal Data which is in the possession and control of BITPoint SG, BITPoint SG shall provide and/or correct that data within 30 days and in a manner in accordance with its standard procedures as stated hereinafter.

2.2. In accordance with the Act, BITPoint SG has established a process for receiving and responding to any query or complaint that may arise with respect to the application of this Act. To ensure that BITPoint SG receives complaints and enquiries, the User should send the same via email to the Data Protection Officer (the “DPO”) of BITPoint SG at the following email address: [email protected]

2.3. Please note that if the User's personal data has been provided to BITPoint SG by a third party (e.g. a member via a referral process), the User should contact that individual to make such queries, complaints, and access and correction requests to BITPoint SG on the User's behalf.

2.4. Should the User not wish BITPoint SG to use the User's Personal Data for any of the purposes listed in Clauses 3.2 to 3.4, or not to receive promotional materials from BITPoint SG, the User may opt out by sending a clearly worded email to the DPO via the email address provided in Clause 2.2. The User's request shall be processed within 30 days. Please note however that this may BITPoint SG’s ability to attend to the User's needs in the event where there is an existing business relationship between BITPoint SG and the User.

3. Statement of Practices

Types of Personal Data Collected:

3.1. As part of its day-to-day activity, BITPoint SG may collect from the User, through various means, including via BITPoint SG’s websites (including the Site), smart phone applications, marketing events such as road shows and any forms used by BITPoint SG from time to time, some or all of the following Personal Data:

  • Name (first and surname);
  • Postal Address;
  • Phone number (including mobile);
  • Office number;
  • Fax number;
  • Email address;
  • Bank account/credit card details;
  • Gender;
  • Personal Data of your emergency contacts;
  • IP addresses;
  • Information on the User's trades and
  • Photographs and images.
Cookies

BITPoint SG uses a browser feature known as a "cookie", which assigns a unique identification to the User's computer. Cookies are typically stored on the User's computer's hard drive. Information collected from cookies is used by BITPoint SG to evaluate the effectiveness of the Site, analyse trends, and administer the BITPoint SG’s platforms. The information collected from cookies allows us to determine such things as which parts of the Site are most visited and difficulties our visitors may experience in accessing our Site. With this knowledge, BITPoint SG can improve the quality of your experience on the Platform by recognising and delivering more of the most desired features and information, as well as by resolving access difficulties. BITPoint SG also uses cookies and/or a technology known as web bugs or clear gifs, which are typically stored in emails to help BITPoint SG confirm receipt of, and response to, BITPoint SG’s emails and to provide users with a more personalised experience when using the Site.

BITPoint SG uses third party service provider(s), to assist BITPoint SG in better understanding the use of the Site. Our service provider(s) will place cookies on the hard drive of your computer and will receive that we select that will educate us on such things as how visitors navigate around our site, what products are browsed, and general Transaction information. Our service provider(s) analyses this information and provides us with aggregate reports. The information and analysis provided by our service provider(s) will be used to assist us in better understanding our visitors' interests in our Site and how to better serve those interests. The information collected by our service provider(s) may be linked to and combined with information that we collect about you while you are using the Platform. Our service provider(s) is/ are contractually restricted from using information they receive from our Site other than to assist us.

By using our Site, you are agreeing that we may use cookies for the purposes set out above.

Purpose of Collection of Personal Data

3.2. The above Personal Data mentioned in Clause 3.1 is collected for the purposes of:

  • allowing you to open and operate an Account on the Platform;
  • enabling you to complete Transactions on the Platform;
  • to ascertain if you are eligible for any discounts, privileges, or benefits or other related purposes;
  • to conduct market research and analysis eg. surveying our Users' needs and opinions on issues, such as our performance;
  • to notify you of any changes to our policies or services which may affect you;
  • to respond to queries and feedback; maintaining and updating your Account details;
  • as required for regulatory purposes;
  • to provide you with information about products and promotions that may be of interest to you, from ourselves and third parties, although only if you have specifically agreed to receive such information;
  • for direct marketing through voice calls; text messages; email; direct mail and facsimile messages;
  • for payment and/or credit control purposes; and
  • informing you of new developments, services, promotions of BITPoint SG and other third parties which we are associated with.
Disclosure of Personal Data

3.3. In order to carry out the functions described above, BITPoint SG may, from time to time, disclose your Personal Data between BITPoint SG’s companies and the Representatives.

3.4. Without derogating from any of the above, BITPoint SG may also disclose your Personal Data to the following third parties:

  • Regulators and law enforcement officials;
  • Lawyers;
  • Auditors;
  • Third party service providers and consultants;
  • Credit, debit and charge card companies, banks and other entities processing payment;
  • Financial institutions, insurance companies or other companies in the case of a merger, divestiture, or other corporate re-organisation;
  • Potential buyers or investors of BITPoint SG or any of BITPoint SG’s companies; and
  • Any agent or subcontractor acting on BITPoint SG’s behalf for the provision of BITPoint SG’s services.

3.5 BITPoint SG may disclose the User's Personal Data to the abovementioned parties also in the occurrence of any of the following events:

  • To the extent that BITPoint SG is required to do so by the law;
  • In connection with any legal proceedings or prospective legal proceedings;
  • To establish, exercise or defend BITPoint SG’s legal rights;
  • To the purchaser (or prospective purchaser) of any business or asset which BITPoint SG is (or is contemplating) selling;
  • To any person and/or entity for the purpose of processing such information on BITPoint SG’s behalf;
  • To third parties who provide services to BITPoint SG or on its behalf;
  • To any third party that purchases BITPoint SG or BITPoint SG’s business or any part of BITPoint SG or BITPoint SG’s business;
  • With your consent; and
  • For the purposes of disaster recovery.

Any third party which receives or has access to Personal Data shall be required by us to protect such Personal Data and to use it only to carry out the services they are performing for you or for BITPoint SG, unless otherwise required or permitted by law.

We will ensure that any such third party is aware of our obligations under this Notice and we will enter into contracts with such third parties by which they are bound by terms no less protective of any Personal Data disclosed to them than the obligations we undertake to you under this Notice or which are imposed on us under applicable data protection laws.

Optional Provision of Personal Data

3.6 In some instances, you may also be requested to provide certain Personal Data that may be used to further improve BITPoint SG’s products and services and/or better tailor the type of information presented to you. In most cases, this type of data is optional although, where the requested service is a personalised service, or provision of a product or dependent on your providing all requested data, failure to provide the requested data may prevent BITPoint SG from providing the service to you.

3.7 Under certain circumstances, telephone calls made to any of BITPoint SG’s companies to order and/or service hotlines and/or inquiry telephone numbers are recorded for the purposes of quality control, appraisal, as well as staff management and development. In such an event, by agreeing to this Notice, you hereby give your consent for the collection, use and disclosure of such Personal Data for the purposes of our records, following up with your enquiry and/or transaction, and for quality control and training purposes.

4. Transfer of Personal Data Overseas

To the extent that we may need to transfer personal data outside of Singapore, whether to our group companies or business partners or thirdparty service providers or simply to data storage facilities, we shall do so in accordance with the Personal Data Protection Act, 2012 (“PDPA”) to ensure that we provide a standard of protection to personal data so transferred that is comparable to the protection under the PDPA.

5. Accuracy of Personal Data

Where possible, BITPoint SG will validate data provided using generally accepted practices and guidelines. This includes the use of check sum verification on some numeric fields such as account numbers or credit card numbers. In some instances, BITPoint SG is able to validate the data provided against pre-existing data held by BITPoint SG. In some cases, BITPoint SG is required to see original documentation before we may use the Personal Data such as with Personal Identifiers /or proof of address. To assist in ensuring the accuracy of your Personal Data in the possession of BITPoint SG, please inform us of any updates of any parts of your Personal Data by sending a clearly worded email to the DPO at the email address provided at Section 2.2.

6. Protection of Personal Data

BITPoint SG uses commercially reasonable physical, managerial, and technical safeguards to preserve the integrity and security of your Personal Data and will not knowingly allow access to this data to anyone outside BITPoint SG, other than to you or as described in this Notice. However, BITPoint SG cannot ensure or warrant the security of any information you transmit to BITPoint SG and you do so entirely at your own risk. In particular, BITPoint SG does not warrant that such information may not be accessed, altered, collected, copied, destroyed, disposed of, disclosed or modified by breach of any of BITPoint SG’s physical, technical, or managerial safeguards.

7. Access and Correction of Personal Data

7.1 In accordance with Clause 2.1 of this Notice, you have the right to:

  1. check whether BITPoint SG holds any Personal Data relating to you and, if so, obtain copies of such data; and
  2. require BITPoint SG to correct any Personal Data relating to you which is inaccurate for the purpose for which it is being used.

7.2 BITPoint SG reserves the right to charge a reasonable administrative fee in order to meet your requests under Clause 7.1(a). Upon payment of the requisite fee under Clause 7.1(a) and/or receipt of your request under Clause 7.1(b), your request shall be processed within 30 days.

7.3 If you wish to verify the details you have submitted to BITPoint SG or if you wish to check on the manner in which BITPoint SG uses and processes your personal data, BITPoint SG’s security procedures mean that BITPoint SG may request proof of identity before we reveal information. This proof of identity will take the form of full details of name, Account number and NRIC or Passport or Fin number. You must therefore keep this information safe as you will be responsible for any action which BITPoint SG takes in response to a request from someone using your Account details. We would strongly recommend when you login to your online account in our websites that you do not use the browser's password memory function as that would permit other people using your terminal to access your personal information.

8. Storage and Retention of Personal Data

BITPoint SG will delete, as reasonably possible, or otherwise anonymise any Personal Data in the event that the Personal Data is not required for any reasonable business or legal purposes of BITPoint SG and where the Personal Data is deleted from BITPoint SG’s electronic, manual, and other filing systems in accordance with BITPoint SG’s internal procedures and/or other agreements. In accordance with our record keeping obligations we will retain Accounts and Personal Data for, at least a period of five years after they are closed by Users.

We have implemented security measures to ensure the confidentiality of your Personal Data and to protect your Personal Data from loss, misuse, alteration or destruction. Only authorised personnel of BITPoint SG have access to your Personal Data, and these personnel are required to treat the information as confidential. The security measures in place will, from time to time, be reviewed in line with legal and technical developments.

9. Withdrawal of Consent

You have the right to ask us not to process your Personal Data for marketing purposes. You can exercise the right at any time by contacting us at [email protected]

10. Change Notice

BITPoint SG reserves the right to alter any of the clauses contained herein in compliance with local legislation, and for any other purpose deemed reasonably necessary by BITPoint SG. The User expressly agrees to review the Terms of Use regularly. If the User does not agree to the modified terms, the User must inform BITPoint SG as soon as possible of the terms to which the User does not consent. Pending such notice, if there is any inconsistency between these terms and the additional terms, the additional terms will prevail.

11. Governing Law

This Notice is governed by and shall be construed in accordance with the laws of Singapore. The User hereby submit to the non-exclusive jurisdiction of the Singapore courts.

12. Miscellaneous

12.1 This Notice only applies to the collection and use of Personal Data by BITPoint SG. It does not cover third party sites to which we provide links, even if such sites are co-branded with our logo. BITPoint SG does not share the User's Personal Data with third party websites. BITPoint SG is not responsible for the privacy and conduct practices of these third party websites. The User should read the privacy policies of these third party websites before disclosure of any Personal Data to these websites.

12.2 BITPoint SG will not sell the User's personal information to any third party without the User's permission, but BITPoint SG cannot be responsible or held liable for the actions of third party sites which the User may have linked or been directed to BITPoint SG’s website.

12.3 BITPoint SG’s websites (including the Site) do not target and are not intended to attract minors under the age of twenty-one (21) years old. BITPoint SG does not knowingly solicit personal information from minors under the age of twenty-one (21) years old or send them requests for personal data.

12.4 There may be links from BITPoint SG’s websites (including the Site) to other websites and resources provided by third parties. This Notice applies only to BITPoint SG’s websites (including the Site). Accessing those third-party sites or sources requires the User to leave BITPoint SG’s websites. We do not control those third-party sites or any of the content contained therein and the User agree that we are in no way responsible or liable for any of those thirdparty sites, including, without limitation, their content, policies, failures, promotions, products, services or actions and/or any damages, losses, failures or problems caused by, related to or arising from those sites. The User agrees to review all policies, rules, terms and regulations, including the privacy notices, of each third-party site that the User visits.

12.5 Please be notified that BITPoint SG is not in any partnership with entities who represent themselves as customer support agents, providing customer support services via phone and/or social media and who may promise to help solve the User's issues for money.

Remember - customer support is provided only via the BITPoint SG website and is always provided free of charge.

If the User encounters anything the User believes may be a fraud, phishing, or scam which impersonates BITPoint SG, the User should email BITPoint SG immediately at [email protected]

Introduction

BITPoint SG Anti-Money Laundering and Know Your Customer Policy (hereinafter referred to as the “AML/KYC Policy”) is designed to prevent and mitigate the risk of BITPoint SG being involved in any kind of illegal activity.

Both international and local regulations require BITPoint SG to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious activity from its Users.

AML/KYC Policy covers the following matters:

  1. Identity Verification
  2. Card Verification
  3. Compliance Officer.
  4. Monitoring Transactions.
  5. Risk Assessment.

1. Identity verification

BITPoint SG’s identity verification procedure requires the User to provide BITPoint SG with reliable, independent source documents, data or information (e.g., national ID, international passport, bank statement, utility bill). For such purposes BITPoint SG reserves the right to collect User’s identification information for the AML/KYC Policy purposes.

BITPoint SG will take steps to confirm the authenticity of documents and information provided by the Users. All legal methods for double-checking identification information will be used and BITPoint SG reserves the right to investigate certain users who have been determined to be risky or suspicious.

BITPoint SG reserves the right to verify the User's identity on an on-going basis, especially when their identification information has been changed or their activity seems to be suspicious (unusual for the particular User). In addition, BITPoint SG reserves the right to request up-to-date documents from the Users, even though they have already provided prior identity verification.

User’s identification information will be collected, stored, shared and protected strictly in accordance with the BITPoint SG’s Privacy Notice and the related data protection regulations.

Once the User's identity has been verified, BITPoint SG shall be able to remove itself from potential legal liability in a situation where its Services are used to conduct illegal activity.

2. Card verification

The Users who are intended to use payment cards in connection with the BITPoint SG’s Services have to provide and pass card verification in accordance with instructions available on the BITPoint SG’s Site.

3. Compliance Officer

The Compliance Officer is the person, duly authorized by BITPoint SG, whose duty is to ensure the effective implementation and enforcement of the AML/KYC Policy. It is the Compliance Officer’s responsibility to supervise all aspects of BITPoint SG’s anti-money laundering and counter-terrorist financing, including but not limited to:

  1. Collecting Users’ identification information.
  2. Establishing and updating internal policies and procedures for the completion, review, submission and retention of all reports and records required under the applicable laws and regulations.
  3. Monitoring transactions and investigating any significant deviations from normal activity.
  4. Implementing a records management system for appropriate storage and retrieval of documents, files, forms and logs.
  5. Updating risk assessment regularly.
  6. Providing law enforcement with information as required under the applicable laws and regulations.

The Compliance Officer is entitled to interact with law enforcement, which are involved in prevention of money laundering, terrorist financing and other illegal activity.

4. Monitoring Transactions

The Users are known not only by verifying their identity (who they are) but, more importantly, by analysing their transactional patterns (what they do). Therefore, BITPoint SG relies on data analysis as a risk-assessment and suspicion detection tool. BITPoint SG performs a variety of compliance-related tasks, including capturing data, filtering, record-keeping, investigation management, and reporting. System functionalities include:

  1. Daily check of Users against recognized “black lists” (e.g. OFAC), aggregating transfers by multiple data points, placing Users on watch and service denial lists, opening cases for investigation where needed, sending internal communications and filling out statutory reports, if applicable;
  2. Case and document management.

With regard to the AML/KYC Policy, BITPoint SG will monitor all transactions and it reserves the right to:

  • ensure that transactions of suspicious nature are reported to the proper law enforcement through the Compliance Officer;
  • request the User to provide any additional information and documents in case of suspicious transactions;
  • suspend or terminate User’s Account when BITPoint SG has reasonable suspicion that such User is engaged in illegal activity.

The above list is not exhaustive and the Compliance Officer will monitor Users’ transactions on a daily basis in order to define whether any Transactions are to be reported and treated as suspicious or are to be treated as bona fide.

5. Risk Assessment

BITPoint SG, in line with the international requirements, has adopted a risk-based approach to combat money laundering and terrorist financing. By adopting a riskbased approach, BITPoint SG is able to ensure that measures to prevent or mitigate money laundering and terrorist financing are commensurate to the identified risks. This will allow resources to be allocated in the most efficient ways. The principle is that resources should be directed in accordance with priorities so that the greatest risks receive the highest attention.

1. POLICY STATEMENT

BITPoint SG creates opportunities for people and builds trust between them worldwide. BITPoint SG is committed to conducting business in accordance with the highest ethical, professional and legal standards. The public, BITPoint SG’s partners and Users’ have the right to expect that professional, competent and trustworthy people are employed by BITPoint SG.

BITPoint SG will comply with applicable legislation. In line with applicable legislation BITPoint SG has a ‘zero tolerance’ policy towards fraud, corruption, collusion, money laundering, financing of terrorism and other criminal conduct (jointly referred to as the “Prohibited Conduct”) and will thoroughly investigate and seek to take disciplinary and/or legal action against those who perpetrate, are involved in, or assist with fraudulent or other improper actions in all BITPoint SG activity and related transactions.

BITPoint SG will provide adequate and appropriate resources to implement the AntiFraud Policy and will ensure it is communicated and understood.

2. LEGISLATION COMPLIANCE

The Anti-Fraud Policy has been drafted to comply with the current applicable local and international legislation, including, but not limited to applicable EU legislation. Adherence to the Anti-Fraud Policy BITPoint SG will ensure compliance with all relevant legislation and internal policies.

3. DEFINITIONS

Pursuant to the Anti-Fraud Policy, prohibited conduct includes fraud, corruption, collusion, money laundering, financing of terrorism and other criminal conduct defined as follows:

  1. Fraud: any act or omission, including a misrepresentation that knowingly or recklessly misleads, or attempts to mislead, a party to obtain a financial or other benefit or to avoid an obligation.
  2. Corruption: offering, giving, receiving, or soliciting, directly or indirectly, anything of value to influence improperly the action of another party.
  3. Collusion: arrangement between two or more parties designed to achieve an improper purpose, including influencing improperly the actions of another party.
  4. Money laundering: (a) the conversion or transfer of property, knowing that such property is derived from criminal activity or from an act of participation in such activity, for the purpose of concealing or disguising the illicit origin of the property or of assisting any person who is involved in the commission of such activity to evade the legal consequences of his action; (b) the concealment or disguise of the true nature, source, location, disposition, movement, rights with respect to, or ownership of property, knowing that such property is derived from criminal activity or from an act of participation in such activity; (c) the acquisition, possession or use of property, knowing, at the time of receipt, that such property was derived from criminal activity or from an act of participation in such activity; (d) participation in, association to commit, attempts to commit and aiding, abetting, facilitating and counselling the commission of any of the actions mentioned in the foregoing points
  5. Terrorist financing: provision or collection of Assets, by any means, directly or indirectly, with the intention that they should be used or in the knowledge that they are to be used, in full or in part, in order to carry out any of the offences.
  6. Criminal conduct: conduct, which constitutes an offence in any part of the world or would constitute an offence in any part of the world if it occurred there.

4. KEY RESPONSIBILITIES

BITPoint SG performs a “Know-Your-Customer Policy” (KYC) due diligence process on all new Users and a due diligence on all transactions to detect possible compliance or integrity concern. Such due diligence is performed in accordance with the requirements of the money laundering and terrorist financing activities regulations, pursuant to the terms of KYC.

In view of the Anti-Fraud Policy BITPoint SG is responsible for:

  • ensuring efficient and effective systems, procedures and internal controls are in place to enable the prevention and detection of Prohibited Conduct;
  • ensuring the Anti-Fraud Commissioner identifies Prohibited Conduct risks in their areas of business and that all systems, procedures and internal controls are properly implemented and enforced;
  • ensuring all members of the operational anti-fraud department have a duty to report any internal and external suspicions or incidents of Prohibited Conduct;
  • reviewing continuously its systems, procedures and internal controls through risk management processes and audit arrangements;
  • reporting any suspicions regarding Prohibited Conduct to the relevant state authorities.

5. FRAUD DETECTION AND INVESTIGATION

BITPoint SG’s Operational Anti-Fraud Department, in particular, the Anti-Fraud Commissioner, is the first line of detection, investigation and protection in preventing Prohibited Conduct through the Users and transactions appraisal process. The AntiFraud Commissioner will be responsible for the proper fulfilment of the Anti-Fraud Policy.

(a) Authority

The Anti-Fraud Commissioner, through the Operational Anti-Fraud Department, working in close collaboration with the Nominated Officer (cf. Know-Your-Customer Policy), shall be responsible for:

  • receiving reports of alleged or suspected Prohibited Conduct involving BITPoint SG, its Users and/or related transactions;
  • investigating such matters and cooperating directly with the Nominated Officer in order to facilitate the investigations;
  • reporting its findings to the BITPoint SG management and relevant authorities, as well as any other third party on a need-to-know basis.
  • For situations requiring an urgent response, the Anti-Fraud Commissioner may take any necessary measures required for the investigation, notably to preserve evidence.

(b) Independence

The Operational Anti-Fraud Department shall enjoy complete independence in the exercise of its responsibilities. The Anti-Fraud Commissioner shall have full authority to open, pursue, close and report on any investigation on Prohibited Conduct within its remit without prior notice to, the consent of, or interference from any other person or entity.

(c) Professional Standards

All Prohibited Conduct investigations conducted by the Operational Anti-Fraud Department shall be fair and impartial, with due regard to the rights of the Users and persons or entities involved. The presumption of innocence applies to those alleged to have engaged in misconduct. Those involved in the Prohibited Conduct investigation (be those under investigation or those conducting the investigation) should be aware of their rights and obligations and ensure they are fully respected.

(d) Cooperation

All Users are required to cooperate with the Operational Anti-Fraud Department and the Anti-Fraud Commissioner promptly, fully, efficiently and in the manner specified by the Operational Anti-Fraud Department, including by answering relevant questions and complying with requests for information and records.

(e) Confidentiality

In accordance with BITPoint SG internal rules on access to information, all information and documents collected and generated during a Prohibited Conduct investigation, not already in the public domain, shall be kept strictly confidential. The confidentiality of the information collected will be respected both in the interests of those concerned and the integrity of the investigation.

In particular, during the Prohibited Conduct investigation the confidentiality will be respected in so far as it would not be contrary to the interests of the investigation.

The Operational Anti-Fraud Department shall disclose such information and documents only to those persons or entities authorized to receive them or otherwise on a need-to-know basis.

6. MISCELLANEOUS

BITPoint SG will review the Anti-Fraud Policy to reflect new legal and regulatory developments and ensure good practice.

BY USING THE SERVICES, THE USER WARRANTS AND GUARANTEES THAT THE USER HAS NO INTENTION TO COMMIT ANY OF PROHIBITED CONDUCT ACTS DESCRIBED HEREIN; FURTHERMORE, THE USER CONSENTS TO ANY CHECKS IN RELATION TO INVESTIGATION UNDER THE ANTI-FRAUD POLICY AND THE USER AGREES TO COOPERATE FULLY AND PROMPTLY WITH THE ANTI-FRAUD COMMISSIONER DURING SUCH INVESTIGATION.

Risk Warning

The trading of Digital Asset involves a significant amount of risk. Prices can fluctuate on any given day. Because of such price fluctuations, the User may gain or lose value of the User's assets at any given moment. Any digital token may be subject to large swings in value and may even become absolutely worthless. There is always an inherent risk that losses will occur as a result of buying, selling or trading anything on the market.

Digital Asset trading has specific risks, which are not shared with fiat currencies, goods or commodities in a market.

Unlike fiat currencies, which are supported by government reserves or other legal entities, as well as commodities such as silver and gold, Digital Asset are only backed by mathematics, technology and trust. Most Digital Asset are absolutely decentralized, which means there is no authority that can take corrective measure to protect the value of such Digital Asset in a crisis.

Some Digital Asset may be used as an autonomous worldwide payment system. Possession and use of such Digital Asset would be subject to high regulatory risk particularly in jurisdictions governed by national governments who believe such methods may be used for illegal purposes. When possessing and trading in such Digital Asset- traders put their trust in the digital, decentralized and mostly anonymous system, which relies on p2p networking and cryptography to maintain its integrity.

Digital Asset trading is susceptible to irrational or rational bubbles or absolute loss of confidence, which could collapse demand/supply. Any actions, even remotely connected to Digital Asset can crash confidence in such Digital Asset, such as unexpected changes imposed by the Digital Asset developers, a government crackdown, the creation of a superior competing Digital Asset alternative, or even a deflation or inflation spiral. Confidence might also collapse because of various technical problems: if the anonymity of the system can be compromised, Assets lost or stolen, or in the event that hackers or governments become able to prevent Digital Asset transactions from settling.

There may be additional risks, which have not been foreseen or identified in the current Terms of Use.

Every User has to carefully assess whether the User's financial situation and tolerance for risk is suitable for buying/selling/trading Digital Asset.

Transfer fee

Item Fee
Cryptocurrency receipt (deposit) Free
Cryptocurrency remittance (send) Free

Storage fee

Item Fee
Minimum SGD 50
Maximum 2% of total assets

Transaction fee

Item Fee
Transaction 0.2%
Withdrawal Top up
Minimum: SGD100
Maximum: SGD5000
No limit

Account management fee

Item Fee
Account opening fee Free
Account management fee Free

Deposit/withdrawal fee

Fee Fiat Currency Cryptocurrency
Deposit Free
*Fee by financial institutions is borne by customers
Free
Withdrawal Free
*Fee by financial institutions is borne by customers
Free

* Fees are subjected to changes

* Storage fee is only applicable if the account has been inactive for more than 6 months (refer to clause 9.7)

Note on mining fee

To ensure that transactions are processed on cryptocurrency networks, outgoing transactions to external digital currency addresses typically incur a "mining" or "network" fee. This fee is paid to the digital currency miners, which are the systems that process the transactions and secure the respective network. Please note: all fees are paid to miners, BITPoint SG does not profit from any sends or receives.

BITPoint SG does not pay the network mining fee on behalf of customers for outgoing digital currency transactions.

The fee you pay for outgoing transactions is calculated dynamically at the time the transaction is created. This means that the fee may be higher or lower depending on the overall transaction volume currently on the digital currency network. The fees are displayed on the send confirmation screen. Please note that no portion of this fee goes to BITPoint SG.