Terms & Conditions
Our Privacy Policy
Last Updated: November 12, 2024
1
Introduction
BlockByte Capital Pty Ltd trading as “BlockByte” is headquartered in Melbourne, Australia. BlockByte does not provide financial advice of any kind and serves as a brokerage, custody and research platform. Crypto Assets are unregulated and highly speculative. There is no consumer protection. You risk losing all of your capital. This information is general only and has been prepared without taking your objectives, financial situation or needs into account. You should obtain independent advice and refer to these Terms and Conditions before deciding whether to trade with us. We operate under Leonie Hill Digital Pty Ltd ACN 625 613 041 trading as BetterX, AUSTRAC REGISTERED DCE100578761 (Digital Currency Exchange).
These Terms and Conditions (“Terms”) govern your access to and use of BlockByte’s services, including our cryptocurrency trading platform, portfolio management tools, and related services (collectively, the “Services”). By accessing or using our Services, you agree to be bound by these Terms.
2
Definitions
- “BlockByte,” “we,” “us,” or “our” refers to BlockByte Capital and its subsidiaries and affiliates
- “Client,” “you,” or “your” refers to any individual or entity using our Services
- “Digital Assets” refers to cryptocurrencies, virtual tokens, and other digital assets
- “Platform” refers to BlockByte’s trading platform BetterX and associated services
- “Portfolio Manager” refers to the authorized representative managing your digital assets
3
Eligibility
3.1 To use our Services, you must:
- Be at least 18 years old
- Have the legal capacity to enter into these Terms
- Comply with all applicable laws and regulations
- Complete our Know Your Customer (KYC) and Anti-Money Laundering (AML) verification processes
3.2 You represent and warrant that you are not:
- Subject to economic or trade sanctions
- Located in a jurisdiction where cryptocurrency trading is prohibited
- Using our Services for any illegal purposes
4
Account Registration and Security
4.1 To access our Services, you must:
- Provide accurate and complete registration information
- Maintain the confidentiality of your account credentials
- Immediately notify us of any unauthorized access
- Regularly update your contact information
4.2 You represent and warrant that you are not:
- You are responsible for all activities under your account
- You will not share your account credentials
- You will use strong authentication methods
- You will maintain adequate security measures
5
Portfolio Management Services
5.1 By accepting these Terms, you authorize BlockByte to:
- Manage your digital assets according to agreed-upon strategies
- Execute trades on your behalf
- Hold assets in secure custody
- Implement risk management protocols
5.2 You acknowledge that:
- Past performance does not guarantee future results
- Cryptocurrency investments carry significant risks
- Portfolio strategies may be adjusted based on market conditions
- Management fees will be assessed according to our fee schedule
6
Risks and Disclaimers
6.1 You understand and accept that:
- Cryptocurrency markets are highly volatile
- Digital assets are not legal tender
- You may lose your entire investment
- Technical issues may affect trading operations
- Market conditions can change rapidly
6.2 We do not guarantee:
- Investment returns
- Trading system availability
- Price accuracy
- Market liquidity
- Protection against market losses
7
Fees and Payments
7.1 You agree to pay:
- Management fees as specified in your service agreement
- Trading fees associated with transactions
- Any applicable custody fees
- Additional services fees as communicated
7.2 Fee Structure:
- Fees are calculated at 2.5% of transaction value inc. GST, a discount may be applied at discretion for larger volumes
- You agree that up to 1% p.a. custody fee is applicable to assets under management and is calculated based on daily dollar values and charged at the end of each month to the cash balance. Fees are based on digital assets held, not fiat currency (cash)
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Privacy and Data Protection
8.1 We will:
- Protect your personal information
- Comply with applicable data protection laws
- Maintain appropriate security measures
- Only share information as outlined in our Privacy Policy
8.2 You consent to:
- Collection of your personal information
- Use of data for service improvement
- Required regulatory reporting
- Communication related to your account
9
Termination
9.1 Either party may terminate this agreement:
- With 30 days written notice
- Immediately for material breach
- As required by law or regulation
9.2 Upon termination:
- Outstanding fees will become due
- Assets will be returned according to our withdrawal process
- Access to services will be discontinued
- Records will be maintained as required by law
10
Liability and Indemnification
10.1 You agree to indemnify BlockByte against:
- Violations of these Terms
- Unauthorized account access
- Breaches of applicable laws
- Claims arising from your use of our Services
10.2 Limitation of Liability:
- We are not liable for indirect or consequential damages
- Our liability is limited to fees paid for our Services
- Force majeure events are excluded from liability
- Technical issues beyond our control are excluded
11
Changes to Terms
11.1 BlockByte reserves the right to:
- Modify these Terms at any time
- Change service features
- Update security requirements
- Adjust fee structures
11.2 Notice of Changes:
- Material changes will be communicated 30 days in advance
- Continued use constitutes acceptance of changes
- Emergency changes may be implemented immediately
12
Governing Law and Jurisdiction
12.1 These Terms are governed by Australian law
12.2 Disputes will be resolved through:
- Initial good faith negotiation
- Mediation if necessary
- Binding arbitration as a last resort
13
Contact Information
For questions about these Terms, contact us at contact@blockbyte.com.au
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Acknowledgment
By using our services, you the client appoint BlockByte Capital Pty Ltd. ABN 63651824949 (and any associated employees of BlockByte Capital Pty Ltd. to act on my behalf for the establishment and ongoing maintenance of an account with Leonie Hill Digital Pty Ltd trading as BetterX and Leonie Hill Custody Pty Ltd Trading as BetterX Custody for the provision of Cryptocurrency Services; executing any associated terms and conditions, providing instructions and personal information relating to the account (and any other activities that are stipulated within the terms of service that may relate to the account) and authorise BlockByte Capital Pty Ltd. and or its representatives to accept instructions to execute orders on my behalf.
You are fully aware that:
* Digital assets such as crypto currencies are highly speculative investments with significant risks in which 100% of capital can be lost
* Markets for digital assets can go down as well as up
* Liquidity is not guaranteed and there is a risk that the market for any particular asset will cease to exist.
By using BlockByte’s Services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions.