Last updated on 01.06.2023

Last updated on 01.06.2023

Bintense.io is owned and operated by UAB Green Cliff INC. (the company number 306116484, authorised to Provide virtual currency service, with a registered and operational address at Naugarduko st. 3-401, Vilnius, Lithuania. (“We”, “our”). 

All exchange operations, sales and purchases of Cryptocurrency via the Service are final. Bintense.io does not accept returns and will not provide refunds unless specifically provided in terms of Use. 

Pursuant to Regulatory Guidance, a completion of a successful “Know Your Client” (“KYC”) procedure is a necessary condition to use Service. In rare circumstances, Bintense.io reserves the right to either cancel your order or offer you a different price for the Services. If, pursuant to a KYC process, Bintense.io refuses to provide services to a user due to AML policy, compliance directive or any other reason, Bintense.io shall initiate a reversal of the transaction. The user’s FIAT funds/cryptocurrency shall be returned to the user’s account/wallet five (5) days after the date upon which a user-submitted an exchange order. If we cancel your order and have already received FIAT Currency from you regarding such an order, we will refund such funds to you subject to applicable law and regulation. 

Refunds shall be made to the same source from which they originated after deducting any cost or expense we incur with regard to such transfer, including any wire transfer charges, currency exchange charges and/or payment processing charges. At Bintense sole discretion, your funds may be returned to another source to which you are the beneficiary as long as you provide us with the required documents and information to verify the account to which the funds were requested be refunded belongs to you. 

To comply with anti-money laundering and terrorist financing regulations or any other regulations and to prevent prohibited conduct, all payments and information related to the refund may be verified by Bintense.io. In such a case, Bintense.io may request from you, at its sole discretion, to provide certain documents and information, including, without limitation, identification documents copy of your credit card (Front – we need to see your name, expiration date, first 6 and last 4 digits of the card number. For security purposes, you must cover the middle 6 digits using a SMALL strip of paper. Back – we need to see your signature to validate the card. For security purposes, you must cover the CVV using a SMALL piece of paper, but we must be able to see the rest of the information on the back of the card) or bank details and/or any other proof required to affect the refund. In case you fail to provide appropriate documents or information, or in case of any doubts as to the authenticity of provided documents and information, Bintense.io shall be entitled to cease the refund process until you take appropriate measures, as requested. 

The provisions of this refund policy shall apply mutatis mutandis to any return of Cryptocurrency already received from you prior to cancellation of your order, from which the then-current equivalent amount of Cryptocurrency to such costs and expenses shall be deducted. It is understood, agreed and confirmed by you that due to Cryptocurrency price volatility, we cannot refund the exact Cryptocurrency amount received. Therefore that amount of Cryptocurrency refunded shall be calculated based on its USD value at the date of a transaction between you and Bintense.io with respect to such Cryptocurrency (without derogating from our right to deduct from the such refund any cost and expense we incur with regard thereto, as specified above). Notwithstanding the above, Bintense.io reserves the right to cancel your order without any refund, or decline any refund request, if it suspects that you have or are engaged in, or have in any way been involved in, fraudulent or illegal activity. 

Refund will be processed without undue delay, and in any event, within 5 (five) business days from cancellation of an order, subject to the requirements set forth hereinabove, and provided that you do not fail to provide Bintense.io with any information and/or documentation required in order to process the refund.

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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.

What are the key risks?

1. You could lose all the money you invest.

  • The performance of most crypto assets can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in crypto assets.
  • The cryptoasset market is largely unregulated. There is a risk of losing money or any crypto assets you purchase due to risks such as cyber-attacks, financial crime and firm failure.

2. You should not expect to be protected if something goes wrong. 

  • The Financial Services Compensation Scheme (FSCS) doesn’t protect this type of investment because it’s not a ‘specified investment’ under the UK regulatory regime – in other words, this type of investment isn’t recognised as the sort of investment that the FSCS can protect. Learn more by using the FSCS investment protection checker here: https://www.fscs.org.uk/check/investmentprotection-checker
  • The Financial Ombudsman Service (FOS) will not be able to consider complaints related to this firm. Learn more about FOS protection here: https://www.financialombudsman.org.uk/consumers.

3. You may be unable to sell your investment when you want.

  • There is no guarantee that investments in crypto assets can be easily sold at any given time. The ability to sell a crypto asset depends on various factors, including the supply and demand in the market at that time.
  • Operational failings such as technology outages, cyber-attacks and comingling of funds could cause unwanted delays, and you may be unable to sell your crypto assets when you want.

4. Crypto asset investments can be complex.

  • Investments in crypto assets can be complex, making it difficult to understand the risks associated with the investment.
  • You should do your own research before investing. If something sounds too good to be true, it probably is.

5. Don’t put all your eggs in one basket.

Putting all your money into a single type of investment is risky. Spreading your money across different investments makes you less dependent on anyone to do well.

A good rule of thumb is not to invest more than 10% of your money in high-risk investments: https://www.fca.org.uk/investsmart/5questions-ask-you-invest.

If you want to learn more about protecting yourself, visit the FCA’s website here: https://www.fca.org.uk/investsmart.

For further information about cryptoassets, visit the FCA’s website here: https://www.fca.org.uk/investsmart/crypto-basics.