Beaver Bitcoin

Beaver Bitcoin Terms of Use

1. Beaver Bitcoin

Beaver Bitcoin (beaverbitcoin.com) is a non-custodial bitcoin buying platform operated by Dam Good Money Corp. (“we”, “us”, “our”, or “Beaver Bitcoin” in this agreement), a Canadian federal corporation headquartered in Toronto and registered with the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) as a money transfer service provider and a virtual currency dealer (#M21577275).

2. Beaver Bitcoin services

Beaver Bitcoin provides to its customers (“you” or “your”) who enter into this agreement, the following service (the “Service”). The Service includes: a non-custodial platform to buy bitcoin automatically on a recurring (e.g. weekly) basis.

We provide the Service through our website (beaverbitcoin.com), emails and customer support tools, which we collectively refer to as the “Beaver Bitcoin Platform”.

Beaver Bitcoin reserves the right to fulfill some or all of its obligations under this agreement through one or many third parties, and the use of “Beaver Bitcoin” throughout this agreement may include these third parties.

In order to provide the Service, Beaver Bitcoin connects your bank account with a service provider with a pre-authorized debit functionality (“Service Provider”).

You will be prompted to give the Service Provider access to your bank account via a third party bank account authorization service when you undertake the account creation process. You are required to read and consent to the Service Provider’s Terms of Use.

By having access to your Bank Account, we nor the Service Provider gain no right, title interest or property in your Bank Account, or the funds held within it, other than for the purposes set out in this Agreement, namely, withdrawing funds to fulfill your recurring bitcoin purchase, valued in CAD, as determined by you.

When you sign up for the Service, you must open an account that will serve as your point of access to the Service (the “Account”). You shall not allow any third party to use your Account and you shall not use your Account for the benefit of any third party. You must not share your Account credentials with anyone else.

As a customer of Beaver Bitcoin, you are entirely responsible for the security and storage of bitcoin purchased from Beaver Bitcoin and will not hold Beaver Bitcoin accountable for the loss or theft of your bitcoin.

You are required to use your own non-custodial Bitcoin wallet when transacting with Beaver Bitcoin in order to receive the bitcoin you purchase via the Beaver Bitcoin Platform.

You may not reverse funds transferred to Beaver Bitcoin or perform charge-backs without seeking authorization from Beaver Bitcoin.

Beaver Bitcoin may restrict your access to the Service or your Account at any time.

3. Eligibility to use Beaver Bitcoin

You may only sign up for and use the Beaver Bitcoin Platform if you meet the following qualifications as an individual:

  1. Canadian resident, physically located in Canada; and,
  2. at least 18 years of age; and,
  3. not a person listed on any sanctions list in Canada or any other country; and,
  4. not a “Politically Exposed Person” as defined in Canadian anti-money laundering/anti-terrorist-financing legislation; and,
  5. intend to use the Beaver Bitcoin Platform for your own use and not on behalf of, or as agent to, any other person or entity; and,
  6. meet Beaver Bitcoin’s anti-money laundering standards applied at our sole discretion.

If at any time you no longer meet the listed qualifications then you shall cease using the Beaver Bitcoin Platform and inform us promptly. Furthermore, by entering into this agreement you are consenting to Beaver Bitcoin making inquiries with third parties, including credit bureaus, to verify the information that you supply as part of opening an Account.

Persons residing in the U.S., Europe, Asia or any place other than Canada are not permitted to use the Service.

4. Your privacy

As a regulated business we may be required to share your personal information with FINTRAC and other regulatory agencies or law enforcement. We may also disclose your personal information to credit bureaus, anti-money laundering service providers, or other identity verification partners as part of opening your Account or for periodic checks to ensure that we have accurate information about you. We may also disclose your personal information to financial institutions or other financial intermediaries. Our commitment to privacy is further explained in the Beaver Bitcoin Privacy Policy available at: https://beaverbitcoin.com/privacy which forms part of this agreement.

5. Pricing

The CAD/BTC exchange rate offered to you on the Beaver Bitcoin Platform is determined by us at our discretion based on the rate we receive from our liquidity provider partners. The rate you receive on your recurring bitcoin buy (the price of Bitcoin in CAD) is displayed in your Purchases feed. This rate will display after we have exchanged your CAD for Bitcoin, and subsequently delivered the bitcoin to the Bitcoin wallet address you have provided to us. All customers who purchase bitcoin on any given day will receive the same CAD/BTC exchange rate.

6. Fees

In providing the Service, Beaver Bitcoin may charge you fees which may include (but are not limited to): a small transaction fee (usually a percentage) for the purchase of Bitcoin on your behalf; a flat fee for the delivery of your bitcoin to your personal Bitcoin wallet address; an amount equal to the fee charged by our payment service provider for the direct debit of your account (where the Service Provider charges us directly and does not debit the fee from your Bank Account); a fee to settle any costs associated with disputes lodged by the customer or any third party including but not limited to transaction disputes.

7. Your obligations

You shall at all times:

  1. comply with this agreement; and
  2. provide honest and accurate information regarding your Account; and
  3. only use the Beaver Bitcoin Platform for lawful purposes.

8. Liability

  • To the maximum extent permitted by law, Beaver Bitcoin does not guarantee the quality, performance or fitness for purpose of the Platform and Services or the completeness, accuracy or currency of statements, representations and information of others (including without limitation data, reports and analyses) provided via the Platform and Services and Beaver will not be liable to any person or entity for any direct, indirect, consequential or other loss, damage, liability, claim or expense (however caused, including due to negligence or breach of contract) which may arise out of, or in connection with, the use of the Platform and Services, or the use of or reliance on information contained on or linked to the Platform.
  • If you are not satisfied with the Platform, your sole and exclusive remedy is to terminate these Terms of Use in accordance with this Agreement.
  • To the maximum extent permitted by law, Beaver Bitcoin shall not have any liability for fines, penalties, taxes and any exemplary, aggravated or punitive damages, liquidated damages or any indirect or consequential loss (including but not limited to loss of business, loss of revenue, loss of contract, loss of production, lost opportunity costs), legal costs, expenses and any loss arising from the use of third party service providers including third party exchanges or platforms.
  • You should independently satisfy yourself as to the information provided through Beaver Bitcoin’s Platform and Services. You agree to use the Beaver Bitcoin Platform at your sole risk and at an “as is” basis.

9. Indemnity

You agree that you use the Beaver Bitcoin Platform at your own risk.

To the maximum extent permitted by law, you agree to indemnify, defend and hold harmless Beaver Bitcoin from and against all claims, demands, actions, suits, proceedings, liabilities, losses, damages, penalties, fines, expenses and costs (including reasonable legal costs and expenses awarded by a court) which result from or relate to:

  • Your conduct and use of the Beaver Bitcoin Platform;
  • Your breach of these Terms;
  • Your breach of any law, regulation or rule;
  • Your violation or breach of Beaver Bitcoin’s copyright, intellectual property, trade secrets, patents, trademarks, service marks, breach of privacy, defamation or any other proprietary right under law;
  • Our reliance to our detriment on the information provided to us by you;
  • Any damage that you cause to the Beaver Bitcoin Platform, to any Beaver Bitcoin user or any other person or entity.