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Terms and conditions

Version 1.0 / Last update: March 2020

Welcome at BotHIVE.io (hereafter also “BotHIVE” or “we/our”). We offer online software as a service (SaaS) through our platform https://bothive.io/ (the “Website” or “Platform”). Our software (“Software”) enables you to trade cryptocurrencies and crypto derivatives by means of different algorithmic trading bots optimised by AI with genetic algorithms – of which (solely) you control and configure the settings - while not worrying about development and maintenance. BotHIVE.io is not a financial advisor or fund manager and any cryptocurrency deposited on the Website is solely used for payments of software’s invoices. No cryptocurrency deposited on the Website is traded or invested in any way. All trading bankrolls are under the full responsibility of User and chosen trading platforms or exchanges.

These terms and conditions (the “Terms”) apply to the relationship between BotHIVE and you for any use of the Website and the Software that BotHIVE offers. You cannot use the Software without accepting these Terms.

1. Definitions

1. BotHIVE.io: a product of a limited liability software development company incorporated under the laws of the United Kingdom. BotHIVE.io is also referred to as “we” or BotHIVE.

2. User(s): individual private person(s) or legal entity making use of the Website or Software. Users are also referred to as “you”.

3. Software: the softwares BotHIVE.io has developed to enable Users to trade in cryptocurrencies and on the crypto market, in the form of customisable crypto trading bots. The Software is also referred to as “Bot”. The Software is available through the Website https://bothive.io/

4. Exchange/Trading Platforms: trading websites supported by BotHIVE.io on which User will run his software’s configuration via linked API Keys.

5. Bankroll: amount of cryptocurrency deposited on Exchange/Trading Platforms, used for trading and under the responsibility of User and Exchange/Trading Platform .

6. Fee Balance : amount of cryptocurrency deposited on BotHIVE, used to pay the Software and under the responsibility of User and BotHIVE.io.

7. Min Fee Balance: minimum amount of cryptocurrency required on BotHIVE to keep a Software subscription open, relative to Bankroll.

8. Commission Fee: dynamic tax rate applied on all profits generated via the Software and paid with Fee Balance.

9. API Key: a unique string of alphanumeric characters transmitted as part of an API request that authenticate the source of the API request.

10. Min Bankroll: Minimum balance on Exchange/Trading Platform required to run a bot.

2. Registration and personal account

1. If you want to use our Website and Software, go to https://bothive.io/ . You will need to register and create a personal account in order to use the Website and Software.

2. You must protect the login details of your account and keep your password strictly secret. We will assume that all actions taken from your account are done by you or under your supervision.

3. You agree to provide up-to-date, complete and accurate information on your account. You agree to promptly update your personal account when necessary, so that we can contact you if needed.

3. Bots

1. All Bots present on BotHIVE are obtained via Genetic Algorithms, that utilise the concepts of natural selection to determine the best optimisation for trading commonly known market patterns.

2. AI optimisation is run periodically and may drastically change software behaviour and results.

3. Charts and Statistics present for each Bot or Software are constantly updated and based on current AI optimisation and real historical market data.

4. Past performance is no guarantee of future results.

5. User’s Settings greatly influence the outcome and may have unexpected effects on software’s behaviour.

4. Deposit

1. The settlement of software invoices requires User to fund the Fee Balance with deposits in cryptocurrency.

2. BotHIVE only supports Bitcoin ( BTC ) transactions.

3. After registration User can retrieve his Bitcoin Deposit Address and QR code in the Deposit page.

4. Fee Balance is credited after 6 confirmations on the Bitcoin network and is displayed in transaction history as any transaction on User’s account.

5. Do not send any cryptocurrency different than Bitcoin ( BTC ) to the Deposit Address! Unfortunately any unsupported coins sent there will be permanently lost.

6. The minimum deposit amount is 0.0001 XBT (10000 Satoshi).

5. Prices and Payments

1. All software is offered on a Free to Enter Subscription based model.

2. A dynamic (min 0 % max 30%) tax rate (“Commission Fee”) is applied only on profits generated via any of our offered software regardless of User’s settings.

3. Commission Fee is automatically subtracted from Fee Balance after every trade concluded in profit.

4. If an overall negative ROI is detected on User’s account , Commission Fee is discounted in proportion of the loss and Bankroll.

5. Servers on which the software is run and their maintenance are free of charge.

6. API Keys

1. API Keys are used to safely connect Exchange/Trading Platform Accounts with BotHIVE while preserving full control on account and cryptocurrencies deposited.

2. In order to link 1 Exchange/Trading Platform Account , User needs to generate on Exchange/Trading Platform and input on BotHIVE , a set of 2 API Keys: 1 Read Only and 1 Order, both limited with the assigned CIDRs.

3. No other API Keys different than the 2 requested by BotHIVE are allowed to be active on Exchange/Trading Platform Account.

4. A minimum balance of 0.01 BTC is required on Exchange/Trading Platforms Account to verify the API Keys.

5. A wrong CIDR will permanently invalidate an API Key and will require the creation of a new one.

6. Connected API Keys are constantly verified, if any verification fails, the linked software subscription is automatically exited and any active position will be market exited.

7. Subscription

1. All Software can be run simultaneously but each require a different subscription with a unique Exchange/Trading Platform Account linked via a unique set of verified API Keys.

2. A minimum Bankroll based on Software is required to enter a Bot Subscription.

3. A minimum Fee Balance based on Software’s Settings and Data is required to enter and remain in a subscription.

4. A bot can be Joined or Subscribed only when the relative Genesis Bot running the current AI configuration is not actively trading.

5. Subscription will remain active until enough Fee Balance is available to cover the Min Fee Balance of set Subscription.

6. If Fee Balance drops bellow the displayed Min Fee Balance, subscriptions are exited starting with the most expensive one until Fee Balance is equal or greater than Min Fee Balance.

7. User can exit a Subscription at any time.

8. If a Bot or Subscription is exited during a trade, the position will be market exited and taxed first.

9. If an API Key is intentionally disabled or deleted by user during a trade, this will be considered as a win and taxed accordingly.

8. Referral

1. Users signing up via referral link earn a 5% life time discount on Commission Fee.

2. The referrer receives a percentage of the Commission Fee paid by the Referred User, automatically and lifetime.

3. If the referrer(2) signed up via a referral link, the original referrer(1) receives 10% of all affiliates paid to referrer(2) (indirect referral), automatically and lifetime.

4. The percentage that referrer receives is based on the amount of affiliate payouts already received, in particular:

0-0.1 BTC 10%

0.1-0.5 BTC 15 %

0.5-1.0 BTC 20%

1-5 BTC 25%

5-10 BTC 30%

> 10 BTC 40%

5. Each referral payout is distributed immediately after every trade and is displayed in Transaction History.

6. Graphs can visually keep track of all affiliate payouts received.

7. Referral is distributed only if the referred user has enough balance to pay the full commission.

8. Users are not allowed to register via their own referral and doing so can cause account's ban.

9. Withdrawal

1. User has the right to withdraw any Bitcoin ( BTC ) previously deposited or earned as referral on his BotHIVE.io account.

2. User can not withdraw the Min Fee Balance of active subscriptions, a Bot must be existed first.

3. Since BTC transaction are prioritised by transaction fee, while requesting a Withdrawal , user is requested to specify the amount of Fee to be used.

4. For security reasons, withdrawals are processed with manual review once a day at 10 AM UTC.

5. In case of a free credit or trials, no Withdrawal is allowed on such Fee Balance.

10. Fair use of our Website and Software

1. By using our Website and Software, you declare to be at least 18 years old.

2. You may not use the Website and Software in such way that you violate the English law or any other applicable laws and regulations.

3. As a condition for using the Website and Software, you agree not to provide any information, data or content to us or the Website and Software that is incorrect, inaccurate, incomplete or that violates any law or regulation. In addition, you agree that you will not, nor allow third parties to:

   a.   enter any non-public / secure areas of the Website or Software;

   b.   send viruses, worms, junk mail, spam, chain letters, unsolicited offers or ads of any kind and for any purpose;

   c.   investigate, scan or test the Website of Software or any other related system or network, or violate any security or authentication;

   d.   use any automated systems of software to withdraw data from the Website (“screen-scraping”);

   e.   make and distribute copies of the Website or Software;

   f.   attempt to sell, distribute, copy, rent, sub-license, loan, merge, reproduce, alter, modify, reverse engineer, disassemble, decompile, transfer, exchange, translate, hack, distribute, harm or misuse the Website or Software;

   g.   or create derivative works of any kind whatsoever.

4. You may not create an account under someone else’s name or act like someone else in any other way.

5. If you receive personal data or other sensitive information from other users, you will keep this information secret.

6. BotHIVE is entitled to (temporarily or permanently) block your account and deny you access to the Website, if we suspect abuse of the account or the Website. We can also block your account or deny you access to the platform and to funds deposited if you do not comply with these Terms, including conditions and policies referenced herein.

11. Privacy

1. BotHIVE respects your privacy and respects the EU General Data Protection Regulation (GDPR). When you make use of our Website and Software, we will collect certain personal data from you. In our Privacy Policy you can read which personal data we collect and for what purposes. You can find our privacy policy here: https://www.bothive.io/privacy.

12. Intellectual property

1. BotHIVE.io is the exclusive licensee of all intellectual property rights vesting in and relating to (all content made available through) the Website and the Software, such as – but not limited to – patents, patent applications, trademarks, trademark applications, database rights, service marks, trade names, copyrights, trade secrets, licenses, domain names, know-how, property rights and processes (“Intellectual Property Rights”).

2. BotHIVE.io grants its Users a non-transferrable, non-exclusive, non-sublicensable and revocable license intended for fair use of the Website and Software on the subscription basis as offered by us at https://www.bothive.io. You are not allowed to access the content of the Website and Software for any other purpose, such as selling or distributing the content of the Website and Software. Also see clause 11.

13. Availability of the Website and Software and disclaimer of warranties

1. The Website and Software are available on computers and handheld mobile devices running iOS and Android. BotHIVE.io will use reasonable efforts to make the Website and Software available at all times. However, User acknowledges that the Website and Software are provided over the internet and mobile networks and thus the quality and availability of the Website and Software may be affected by factors outside BotHIVE’s reasonable control.

2. BotHIVE.io does not accept any responsibility whatsoever for unavailability of the Website and Software, or any difficulty or inability to download or access content, or any other communication system failure which may result in the Website or Software being unavailable.

3. BotHIVE.io is not responsible for any support or maintenance regarding the Website or Software. BotHIVE.io may – at its own discretion – update, modify, or adapt the Website or Software and their functionalities from time to time to enhance the user experience. BotHIVE.io is not responsible for any downtime resulting from these actions.

4. To the maximum extent permitted by applicable law, BotHIVE.io hereby disclaims all implied warranties regarding the availability of the Website and Software. The Website and Software are provided "as is" and "as available" without warranty of any kind.

14. Telegram, advice and disclaimer

1. BotHIVE.io has a telegram open group https://t.me/BotHive where User can ask questions about the Website and Software. BotHIVE will only give advice about the functioning of the Website and Software.

2. BotHIVE explicitly does not:
1. Give Users any personal advice on recommended settings for the Bot;
2. Give Users any personal financial advice. 3. BotHIVE may upload general tutorials and academy videos on the Website, about the functioning of the Website and Software.
4. All tutorials, videos and templates uploaded by BotHIVE are general and contain in no way personal and/or financial advice. All use of these advices is at the sole risk of the User.

15. Risks

User is aware of the accompanying risks of possessing, trading and using crypto currencies and takes full responsibility for these risks.

16. Liability

1. Nothing in these Terms shall exclude or limit BotHIVE’s liability when it cannot be excluded or limited under applicable law.

2. BotHIVE is not liable to you for any (direct or indirect) damage you suffer as a result of the use of the Website or Software or the content provided thereon. For example, BotHIVE is not liable for:

▪ the proper functioning of (hyper)links provided by the Website or Software;
▪ the quality of any bot’s settings, selected by Users or preselected by AI;
▪ the (lack of) financial benefit for the Users through the use of the Website or Software;
▪ any situation where Users mobile device, login details and/or password is stolen and any third party subsequently makes use of the Website or Software without User’s consent;
▪ any damage or alteration to User’s equipment including but not limited to computer equipment or a handheld device as a result of the installation or use of the Website or Software;
▪ a failure to meet any of BotHIVE’s obligations under these Terms where such failure is due to events beyond BotHIVE’s reasonable control.

3. The information and data on the “User-Forum” and “Question-Section” on the Website are User Generated. BotHIVE has no influence on the data and information that is transmitted between Users on the User-Forum and Question-Section, and BotHIVE will not monitor any content on the User-Forum uploaded or shared by Users.  Therefore, BotHIVE is not liable for any data and information on the User-Forum and Question-Section. BotHIVE may remove content and information from the User-Forum and Question-Section if we are notified that the content or information is unlawful, violating these Terms or is otherwise inappropriate.

17. Indemnification

1. Users will indemnify, defend, and hold BotHIVE harmless from and against all liabilities, damages and costs (including settlement costs and reasonable attorneys’ fees) arising out of third party claims regarding:

1. any injury or damages resulting from behaviour of User related to the use of our Website and Software; and

2. breach by User of these Terms or violation of any applicable law, regulation or order.

18. Miscellaneous

1. BotHIVE reserves the right to change these Terms. When we change these Terms in a significant way, we will notify Users by newsletter (if User has provided us with his e-mail address to this end) and post a notification on our Website along with the updated Terms. By continuing to use the Website, you acknowledge the most recent version of these Terms.

2. If we do not enforce (parts of) these Terms, this cannot be construed as consent or waiver of the right to enforce them at a later moment in time or against another User.

3. User cannot transfer the rights and obligations from these Terms to third parties.

19. Severability

1. The invalidity or unenforceability of any provision of these Terms shall not affect the validity or enforceability of any other provision of these Terms. Any such invalid or unenforceable provision shall be replaced or be deemed to be replaced by a provision that is considered to be valid and enforceable and which interpretation shall be as close as possible to the intent of the invalid provision.

20. Applicable law and jurisdiction

1. These Terms shall exclusively be governed by and construed in accordance with the laws of the United Kingdom.

2. Unless mandatory law compels differently, all disputes resulting from or arising in connection with these Terms shall be exclusively submitted to the competent court of London, United Kingdom, unless the dispute can be settled in an amicable fashion.

21. Complaints, comments and suggestions

1. BotHIVE strives to give you optimal service. If you have a complaint, comment or suggestion, you can contact us at admin@bothive.io. Please provide us with your contact details, and a clear description and reason for your complaint. Complaints are usually processed within 7 working days.

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