Refund Policy - Bitnomics

Bitnomics.co website is owned by Money Flow OÜ , a company registered under the number 14845103. Until July 18, 2023, Money Flow OÜ provided virtual currency services under licence number: FVT000047. After this date, Money Flow OÜ discontinued the provision of crypto exchange services at its own discretion and own decision, and the legal entity underwent a change in its area of economic activity. Money Flow OÜ has its registered and operational address at Valukoja tn 8/1, 11415, Estonia, located in Harju maakond, Tallinn, Lasnamäe linnaosa.

All exchange operations, sales and purchases of Cryptocurrency via the Service are final. Bitnomics does not accept any 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, Bitnomics reserves the right to either cancel your order or offer you a different price for the Services. If, pursuant to a KYC process, Bitnomics will refuse to provide services to a user due to AML policy, compliance directive or any other reason, Bitnomics shall initiate a reversal of the transaction. The user’s FIAT funds/cryptocurrency shall be returned to the user’s account/wallet up to five (5) days after the date upon which a user-submitted an exchange order. In the event we cancel your order, if we have already received FIAT Currency from you with regards to such an order, we will, subject to applicable law and regulation, refund such funds to you.

Refunds shall be made to the same source from which they have originated, after deduction of any cost or expense, we incur with regards to such transfer, including without limitation any wire transfer charges, currency exchange charges and/or payment processing charges. Your funds may, at Bitnomic’s 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 to be refunded belongs 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 Bitnomics. In such a case, Bitnomics 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 in order 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, Bitnomics 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 hereby understood, agreed and confirmed by you that due to Cryptocurrency price volatility, we are unable to 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 Bitnomics with respect to such Cryptocurrency (without derogating from our right to deduct from the such refund any cost and expense we incur with regards thereto, as specified above). Notwithstanding the above, Bitnomics 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 Bitnomics with any information and/or documentation required in order to process the refund.

Bitnomics is owned and operated by MoneyFlow OÜ in Harju maakond, Tallinn, Lasnamäe linnaosa, Valukoja tn 8/1, 11415

Licence number: MoneyFlow OÜ - FVT000047

Copyright © Bitnomics 2023. All Rights Reserved

Risk disclosure

You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. The exchange of digital currency is considered a risky transaction with highly speculative outcomes. Bitnomics does not guarantee any profit from any activity associated with its services.

You agree that you are free to choose whether or not to use the service provided to you by Bitnomics and that you do so at your sole option, discretion and risk. You confirm that you understand and agree that the risks associated with the Services are acceptable by you, taking into account your objectives and financial capabilities.
You acknowledge that purchasing or selling Cryptocurrency carry significant risk. Prices can fluctuate on any given day. Because of such fluctuations, Cryptocurrency may gain or lose value at any time. Cryptocurrency may be subject to large swings in value and may even become absolutely worthless. Cryptocurrency trading has special risks not generally shared with official currencies, goods or commodities in a market. Unlike most currencies, which are backed by governments or other legal entities, or commodities such as gold or silver, Cryptocurrency is a unique kind of currency, backed by technology and trust. There is no central bank that can take corrective measures to protect the value of Cryptocurrency in a crisis or issue more currency.
You should carefully consider if holding digital currency is suitable for you depending on your financial circumstances. Dealing and exchanging in cryptocurrencies involves significant risk. The value of virtual assets / currencies has high volatility (value can increase and decrease significantly in a very short period of time and at any given moment). Such price fluctuations bring uncertainty. The value of a virtual currency and collapse in demand may be influenced by many factors, including irrational (or rational) bubbles, loss of confidence in the currency, changes in software development, government decisions, creation of a competitive currency, technical problems, political or non-political statements, statements of influencers and news and hacker-attacks.
Your virtual assets may be lost by losing your password, private key or other security code. Virtual currencies have special risks that are not generally shared with the official currencies, because they are not issued by governments, or with commodities or goods that are tangible or registered in the official registry. Virtual currencies are intangible, decentralized, digital assets, backed by technology and trust. No central bank or other institution can take any measures to protect the value of virtual currency. Virtual currencies are autonomous and largely unregulated system of firms and individuals issuing currencies. The risk of loss in buying, selling or holding virtual assets / currencies can be substantial. You should therefore carefully consider whether exchanging virtual assets is suitable for you in light of your financial condition. Be careful to keep your private keys, passwords, security codes and words for yourself and change them on a regular basis. Bitnomics uses payment providers for transfers of fiat money for rendering exchange services and operating with the fiat money, whereas assisting banks do not, by any means, represent a medium of exchange, transfer, withdrawal, deposit or other transaction in connection to virtual currencies.
You acknowledge and agree that Bitnomics does not act as a financial advisor, does not provide investment advice services or guidance, and any communication between you and Bitnomics cannot be considered as an investment advice. Without prejudice to our foregoing obligations, in asking us to enter into any transaction, you represent that you have been solely responsible for making your own independent appraisal and investigations into the risks of the transaction. You represent that you have sufficient knowledge, market sophistication and experience to make your own evaluation of the merits and risks of any transaction and that you received professional advice thereon. We give you no warranty as to the suitability of the Services and assume no fiduciary duty in our relations with you. We may provide information on the price, range, volatility of digital currency and events that have affected the price of digital currency, but this is not considered investment advice and should not be construed as such. Any decision to purchase or sell digital currency is your exclusive decision at your own risk and Bitnomics will not be liable for any loss suffered.
To the full extent permitted by the applicable law, you hereby agree to indemnify Bitnomics and its partners against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred if direct or not directly arising from your use of our website, your use of the service or from your violation of our terms and conditions.
Bitnomics is not liable for any price fluctuations in Cryptocurrency. In the event of a market disruption, Bitnomics may, at its discretion and in addition to any other right and remedy, suspend the Services. Bitnomics will not be liable for any loss suffered by you resulting from such action. Following any such event, when Services resume, you acknowledge that prevailing market rates may differ significantly from the rates available prior to such event.
Internet transmission risks. Client acknowledges that there are risks associated with using the Software and Services including, but not limited to, the failure of hardware, software, and internet connections. Client acknowledges that the Company shall not be responsible for any communication failures, disruptions, errors, distortions or delays client may experience when using the Software and Services, howsoever caused.