Terms & Conditions
By logging into your back office you agree to this Notice and the Terms of CryptoBitClub
If you are not sure about joining a private Cryptocurrency Club, please consult with professional advisers in the 2 fields of Cryptocurrency, legal, tax and financial industries.
The purpose of this document is to present potential members with a membership offer of the private cryptocurrency club referred to as “CryptoBitClub”. The information set forth below may not be exhaustive and does not imply any elements of a contractual relationship. Its sole purpose is to provide relevant and reasonable information to potential members, for them to determine whether to undertake a thorough analysis of CryptoBitClub; acquiring a membership package offered by CryptoBitClub. Nothing in this document shall be deemed to constitute a prospectus of any sort or a solicitation for investment, nor does it in any way pertain to an offering or a solicitation of an offer to buy any digital currency, security, commodity, or any other kind of financial instrument that has been registered under the Securities Act, the securities laws of any state of the United States or the securities laws of any other country, including the securities laws of any jurisdiction in which a potential member is a resident.
This document is not composed in accordance with, and is not subject to, laws or regulations of any jurisdiction, which are designed to protect investors.
This document is the primary official source of information about CryptoBitClub. The information contained herein may from time to time be translated into other languages, or used in the course of written, or verbal communications with existing and prospective members, partners etc. In the course of such translation, or communication some of the information contained herein may be lost, corrupted, or misrepresented. The accuracy of such alternative communications cannot be guaranteed. In the event of any conflicts or inconsistencies between such translations and communications and this official English language document, the provisions of this English language original document shall prevail.
No offer of Securities
Membership does not convey the offer of securities and cannot be presented for any purposes other than as provided in this document, including but not limited to, any investment, speculative or other financial purposes. Membership with CryptoBitClub confer no other rights in any form, including but not limited to any ownership, distribution (including, but not limited to) profit, redemption, liquidation, property (including all forms of intellectual property), or other financial or legal rights, other than those specifically set forth below. Membership confer no rights in the entity and do not represent participation in the entity. CryptoBitClub memberships are to be referred to as a functional utility.
According to the professional opinion of our legal advisors, our membership does not constitute a security and does not need to be registered as security. In other words, a CryptoBitClub membership is not a security.
The member acknowledges, understands, and agrees that a CryptoBitClub membership is not a security and is not registered with any government entity as a security, and shall not be considered as such. The Member acknowledges, understands, and agrees that membership does not grant the member the right to receive profits, income, or other payments or returns arising from the acquisition, holding, management or disposal of, the exercise of, the redemption of, or the expiry of, any right, interest, title or benefit in the CryptoBitClub platform or any other CryptoBitClub property, whole or in part. CryptoBitClub memberships are not official or legally binding investments of any kind.
Risks and uncertainties
The CryptoBitClub platform is not perfect and is subject to further changes, updates, and adjustments prior to and after its launch. Such changes may result in unexpected and unforeseen effects on its projected appeal to members, possibly due to the failure to meet members’ preconceived expectations based on this document or other marketing material, and hence, impact its perceived success.
Additionally, in a down-cycle economic environment, CryptoBitClub may experience the negative effects of a slowdown in CryptoBitClub platform and may delay or stop working all altogether.
Further, should the costs, financial or otherwise, of complying with any newly implemented regulations exceed a certain threshold, bearing in mind the fact that it is difficult to predict how or whether governments or regulatory authorities may implement any changes to laws and regulations affecting our platform may no longer be commercially viable, and CryptoBitClub may opt to discontinue the development and operation of our platform in a particular jurisdiction or worldwide.
We may not be able to guarantee any future payments anticipated benefits in the future. There is no assurance that there will be sufficient engagement in our platform and that you will receive any benefits. The ability of CryptoBitClub to pay any benefits to you will depend on the future results of operations and laws.
In the case of unforeseen circumstances, the objectives stated in this document may be changed.
Even though we intend to reach all goals described in this document, all members involved participate at their own risk.
Benefits of CryptoBitClub memberships may be exposed to risks of theft. The Company will make every effort to ensure that benefits will be securely held in blockchain wallets. Notwithstanding such security measures, there is no assurance that there will be no theft of the cryptocurrencies as a result of hacks, sophisticated cyber-attacks, distributed denials of service or errors
No Cancellation and No Refund
The member acknowledges that they are fully aware that they will not be entitled to claim any full or partial reimbursement under any circumstances whatsoever. The member may not claim any right of return against CryptoBitClub.
No guarantee on market
CryptoBitClub will use reasonable endeavors to participate in the cryptocurrency market safely. CryptoBitClub is not responsible for, nor does it promise results of any kind expressed or implied regarding participation in its cryptocurrency activities. Results will merely depend on the market at the time.
Note on forward-looking statements
All claims and statements made in this CryptoBitClub document, CryptoBitClub website, press releases made by CryptoBitClub, also any oral statements made by CryptoBitClub team members or agents acting on behalf of CryptoBitClub that are not an accomplished fact, may represent so called forward-looking statements.
Some of these forward-looking statements may be considered such by containing the following terms: “will”, “anticipate”, “plan”, “aim”, “target”, “expect”, “estimate”, “envision”, “intend”, “project”, “may”, “believe”, “if”, or any other such terms. Further, the terms listed above are not necessary to identify a forward-looking statement. All statements that include, but are not limited to any financial projections, estimates, plans or possible trends, risks, as well as prospects of cryptocurrencies should be considered as forward-looking statements as well.
These forward-looking statements are not yet accomplished facts and CryptoBitClub does not take responsibility and cannot guarantee that the future results will correspond with above mentioned forward-looking statements.
These forward-looking statements are also provided as-is and CryptoBitClub takes no responsibility for updating these forward-looking statements, should any information relevant to the pertaining forward-looking statements become available in the future.
No information contained in this document should be considered as a promise, representation of commitment or undertaking as to the future performance of the CryptoBitClub platform, or any other component of the cryptocurrency ecosystem.
Any member who is directly or indirectly found making guarantees of any kind shall agree to their membership benefits being used as collateral for such guarantee and any other cost associated to the club as a result in any jurisdiction
Member shall also hold harmless and indemnify CryptoBitClub, it’s compliant members founders, team, or other authorized representatives from any and all claims arising as direct or collateral result of such statements.
In 2008, a major milestone was reached in the development of cryptocurrencies – the inception of bitcoin. Yet this also happened to be the very peak of the global financial crisis of 2007-2009.
We find this rather telling, just as the global financial crisis revealed the ugly underbelly of traditional banking, with “too big to fail” written all over it, science and tech pioneers were bringing into being a new solution. Crypto-currencies have the power to circumvent, and thus reduce reliance on, age-old financial system whose complacency has not gone unnoticed.
CryptoBitClub is not here to fight the “greedy capitalists”. We’ll leave that to the vocal pundits, who tend to make up for in volume what they lack in competence.
Instead we’re focused on education that will make cryptocurrency economically viable and sustainable. This is the key to ensuring the stable and continuous existence of digital assets in our daily lives. This doesn’t mean that we’re afraid to call a spade a spade: the existing financial services landscape needs to be challenged because it is simply not good enough.
We believe that now is the ideal time for a membership that offers everyday consumers a bridge to the economic advantages offered by cryptocurrency, one which is well-developed, convenient, and most importantly simple to use.
Traditional financial markets are facing challenges on an unprecedented scale. Most are overly regulated and too complicated to adapt to new technologies quickly enough. Furthermore, existing giants have no incentive to adopt new and – in their eyes – unproven technologies. To them the potential gain appears marginal at best, while the level of uncertainty and the investments required are substantial. The result? More cost effective and efficient ways to deliver everyday services to every corner of the world are slow to arrive, if they arrive at all.
What’s most striking, and regrettable, is that nowhere in this decision-making process are the needs of members considered in their financial communities. Traditional financial market players prioritize only their own potential risks and gains.
The traditional chain of financial service providers consists of a high number of intermediaries. Every middleman has its own cost structures, which means they each charge commissions in return for providing the services required.
These corporations have been using the same operating principles for years. There are two reasons for this. On one hand, the scale and scope of these operations means they are not easily changed. On the other hand, maintaining the same
traditional business models is convenient for these players. Well-established financial corporations use their market 114 dominance to ensure their expensive and ineffective operations continue unchallenged. And it’s usually their members who pick up the tab.
The two major problems arise due to this lack of change:
• Firstly, important international services become expensive for the average person, for some people prohibitively so.
• Secondly, a limited number of players dominate because it is very complicated for any new business to enter the market and become an equal player in the ecosystem.
Combined, these two problems create a sort of lock-down in the traditional financial sector. The offerings brought by the traditional finance and banking industry fail to serve the needs of a significant part of the population.
Blockchain based transfers benefit both private members and businesses. For the former, it makes it possible to transfer small amounts at a low cost. For the latter, they can rely on blockchain to execute substantial wire transfers to clients or partners in a fast, reliable manner that is also highly cost effective.
But there’s a problem. At present, cryptocurrencies function well as an asset, but remain virtually impossible to use as a means of payment in everyday life: it is highly recommended that members manually sell their crypto assets on a market, then transfer the resulting amount in traditional currency to their bank account. Only when this transfer is completed can they use these funds to make purchases.
CryptoBitClub - bridging the gap
Can traditional financial players provide the fast, efficient, affordable financial services businesses and individuals need? The answer is no. They can simplify their front-end operations, but the machinery behind it still causes problems because of the way it is structured. For example, someone making an international transfer is still charged even if the transaction isn’t cleared. And being transparent, it will probably take a long time for them to become aware that the transaction has been declined, this can become an additional headache for both businesses and individuals.
Let’s be clear. Traditional banking has been with us for thousands of years; and has done a decent job of stimulating economic growth. But now it is lagging behind. Emerging technologies are already there and ready to be adopted, but by failing to do so these companies are both depriving their members of the gains these new technologies bring and making themselves vulnerable to competition from new entrants. And these new players don’t depend on a long chain of intermediaries to offer their products to the market.
Blockchain might just be the technology that will change how we perceive financial and banking services; completely new ways of adding value to members will emerge.
Cryptocurrencies vs. traditional financial markets
Effectively managing assets and providing safety in times of economic decline is vital for any financial service provider. For hundreds of years these providers relied on precious metals, mostly gold, to preserve the value of assets during economic downturns. It is still widely believed that gold can withstand and hedge the risks caused by economic uncertainty and political upheaval.
The major advantage cryptocurrencies have that no other asset class has ever had is decentralization.
Yet there is a risk inherent in physical asset classes like gold. In times of unrest, these asset classes can break down 150 because they are still attached to physical locations like land or bank vaults.
By contrast, cryptocurrencies benefit from being decentralized – they are free from any physical location. There are no known ways to stop blockchain based currencies from distributing information updates, whatever the political circumstances. This means assets are kept safe around the world, around the clock.
Bitcoin and other cryptocurrencies are gaining increased interest as their immense potential becomes clear. On one hand, they provide the hedge people hope for. On the other hand, they’re currently a great short-term resource because of the current volatility in price with high-yield potential, they also have the capability to hedge traditional financial derivatives. This unique combination is what makes cryptocurrencies a true phenomenon.
Limited global availability
One of the clearest limitations of the traditional financial system is its inability to offer accessible, reliable and 160affordable services to people around the world. Almost 3 billion people lack access to banks or similar institutions.
With very complex operations and cost structures burdened by overheads, traditional financial service providers
put a hefty price tag on inclusion in the global economy. And the result? The poorest in our societies remain poor. Using the 163 current methods employed by traditional banks there is simply no way to include them in the global financial system.
But a potential solution to this problem is now available, and it’s connected to the fact that almost half the world 165 now has access to the internet. This is important because access to the internet means access to blockchain based financial 166 services, with their much lower costs and much greater efficiency.
Blockchain technology is based on information distribution through the web. This enables financial data to be transferred at a tiny fraction of the cost incurred by traditional banks. Using Bitcoin then, or any other blockchain based currency, as a means of payment has incredible potential in less developed countries.
In the short term, CryptoBitClub’s strategy is aimed at increasing the awareness of cryptocurrencies by utilizing existing payment infrastructure as a stepping stone. This will initially limit our ability to penetrate the huge potential market that currently lack access to traditional banking. However, our long-term goal remains to overcome this restriction and open-up the field of global financial and payment services to the next billion potential members. This will be possible when the adoption of cryptocurrencies gains the critical mass required for a native crypto-payment industry to become both useful and economically viable.
The challenges currently facing cryptocurrency entities
In less than 10 years, blockchain has developed rapidly. New cryptocurrencies have been formed and the basic features of the whole infrastructure developed. There is no doubt this market has evolved substantially in a very short period. Nevertheless, significant technical, legal and political obstacles remain which need addressing, because a great number of modern cryptocurrency markets were created by enthusiasts, only a small number of them have the level of technological 181 maturity necessary for keeping assets safe.
There are also major hurdles in abstracting the complexity of blockchain and cryptocurrency technologies and making them accessible for everyday members.
An additional challenge is that there are very few convenient integrated products on the market that directly support cryptocurrency. The CryptoBitClub membership is a great single point of access to the market for someone wanting to enter the world of cryptocurrencies.
The main issue most countries have with cryptocurrencies is their inability to control them through regulation.
Despite their enormous potential, lawmakers and regulators are cautious when it comes to cryptocurrencies. One reason is that they are commonly used as a way to generate and transfer large sums in the ‘grey zone’ of the internet, thus avoiding taxation. So, to avoid complicated legal issues, authorities are refusing to support cryptocurrencies.
The knock-on effect of this is to make potential members cautious of entering this market because of concerns over client due diligence, anti-money laundering legislation and other issues connected with the pseudonymous nature of cryptocurrencies.
Isolation from traditional banking
Another key issue is that cryptocurrencies are only beginning to discover the best practice needed to keep their infrastructure secure from potential malicious activities. As a result, in many markets a high degree of technical security breaches is still possible, as well as a lack of legal protection of the assets involved. This is one of the main reasons why ordinary financial institutions are avoiding blockchain based markets.
So, what are the results? Due to the reasons mentioned above, traditional banking institutions don’t accept 201 cryptocurrencies as an asset class, which means they remain unable to provide vital financial services to half of the world’s 202 population.
The effect is sizeable fees remain applicable to both parties in cryptocurrency markets. This makes utilizing cryptocurrency costly when it reaches a certain threshold.
At CryptoBitClub, we believe that blockchain based assets should have low costs and be affordable to all.
Once developed, the whole infrastructure is always there. Of course, updates and new functions are vital, but the most important factor is the ability to provide a complete set of services. This means the cost of these individual functions needs to remain low.
One of the most important issues facing the market is being able to create convenient cryptocurrency secured “hot” 212 and “cold” storage wallets which can keep cryptocurrency safe.
Cryptocurrency markets hold large amounts of assets, which is both a cause for celebration and for concern. These assets need to be secured from hackers, and the more assets there are the tougher this becomes. Unfortunately, major breaches on popular markets resulting in huge loses are all too common.
Limited availability of fiat currencies
Any market can offer USD to Bitcoin conversion. Some are also able to convert to GBD and EUR. However, the 218 number of people living in countries where these three currencies are used barely reaches 1.5 billion.
This still leaves around 6 billion potential cryptocurrency members unaccounted for, stifling the adoption of cryptocurrency globally.
This smart integration of multiple features alleviates the requirement to plan the use of cryptocurrencies in advance and gives the member full flexibility and control as to when, where, and how to best use their blockchain based assets.
CryptoBitClub promotes three elements: where you can acquire crypto, a safe wallet, and a great debit card for daily use. These elements interact to simplify all operations and make them more convenient for all cryptocurrency conversions.
CryptoBitClub will also have a built-in cold storage feature, making all you blockchain based funds safe yet easy to access. Providing the opportunity to get into blockchain based currency is important to ensure the wider spread of this technology, especially in the parts of the world where traditional banking systems can’t offer financial services accessible to all.
With this product, CryptoBitClub is aiming to be a bridge between the traditional payment infrastructure and blockchain based assets and currencies.
Keeping crypto assets safe
CryptoBitClub’s mission is to provide reliable and effective services to all current and potential members. Our business model also has the provision of the highest possible security at its core. Yet we are still continually looking for additional steps to make safe processes even safer.
Two-factor authentication will be applied to ensure greater security to clients’ crypto assets. This will give a higher level of control in the protection of your assets.
A low barrier for member registration
Our goal is to provide easy entry into the world of digital currency for everyone. Therefore, we want to develop a membership that is no more complicated than signing up for social media outlets.
Offline cryptocurrency storage
Cyber security is the number one priority in the cryptocurrency sector, so of course we will be using the very highest quality techniques for this purpose. On top of this, to ensure safe storing, cold storage is the key.
Keeping assets in offline storage, also known as “cold storage”, is not something new. The issue this does raise is 2 convenience, as all the other cryptocurrency markets also decide how much of the capital they want to keep away from 247 online activities.
Online members support
The CryptoBitClub online members support team is ready to deal with any inquiries. All issues and inconveniences are handled by our team of dedicated professionals. Support will be accessible online and via mobile, ensuring the necessary communication channels are available when required.
We understand that continuous, high-quality support is the key to success, which is why we prioritize providing 2 the very highest level of client support so that every member spreads the word about their membership experience; we want this word-of-mouth communication to be positive, encouraging more members to join our community. We will dedicate all the necessary tools, resources and people to make this happen.
Knowing your members and anti-money laundering
Anonymous and pseudonymous use of CryptoBitClub services will not be possible.
All members will be requested to provide satisfactory identification, proof of residence and/or other document’s 2 necessary to meet all legal requirements.
AML modules may also be integrated into the payment infrastructure offered by CryptoBitClub.
That said, these measures are not intended to make members’ lives difficult. The goal here is to systematically improve the credibility of cryptocurrencies as fair and legal means of payment.
We require that members use a leading KYC (Know your customer) service provider to deliver our members a fast and effective onboarding process. CryptoBitClub is entitled to bring top level Know Your Customers standards to its business operations. The service providers authentication service will offer maximum convenience, and the verification of member information should take no longer than hours.
What’s also important to note is that the authentication process we have designed is intended to avoid the shortcomings of similar processes used by the traditional banking institutions, where long forms need to be filled in and then checked and corrected multiple of times.
Security and audit
To ensure CryptoBitClub’s ability to comply with security requirements, we aim to conduct external security audit no less than once per year. The scope of such audit encompasses the entire CryptoBitClub platform. First such audit is scheduled to be held in fourth quarter of 2018. We will also use independent security audits of a narrower scope throughout our product development lifecycle. Our security philosophy is based on two main principles:
• Creating a reliable technology platform that has sufficient protection from external threats by design. 277
• Protection from the human factor through adherence to widely accepted best practices.
CryptoBitClub is a private crypto club that aims to bring Bitcoin and other popular cryptocurrencies into your everyday life, charity and business.
At present, the growing number of people who wish to integrate cryptocurrencies into their daily economic transactions still face many obstacles.
Our solution is simple: to educate and promote all the essential blockchain products and services and integrate them into a single membership. This is much more than an attempt merely to couple together different elements of the crypto economy. It takes cryptocurrency usage to the next level by bringing it into the financial transactions we make every day.
We believe that currently the crypto economy remains too isolated from traditional economic structures. This is a major contributing factor to the volatility currently seen in Bitcoin and other cryptocurrencies.
While we don’t want to pass judgement on the benefits and shortcomings that stem from the frenzy of speculation which currently surrounds the crypto economy, we do believe that cryptocurrencies are bringing incredible opportunities to replace the outdated banking system, and the potential benefits they offer in this way greatly outweigh those offered when cryptocurrencies are treated purely as tools for speculation.
We believe the key step forward needed is to bridge the gap and remove the barriers between the crypto economy and local commerce, as this will bring two major benefits to cryptocurrencies. Firstly, it will increase their usefulness for everyday consumers, and secondly it will ensure that Bitcoin and other cryptocurrencies can leave their volatile, teenage years behind and move to the next stage – the “adulthood of cryptocurrency.”
CryptoBitClub business model is straightforward: we offer our members a membership regarding block-chain based assets.
We may collect platform related fees in order to cover the cost burden generated by the use of our platform.
The objective of these fees would be to ensure that the cost burden of maintaining and developing the underlying technology and organization that runs CryptoBitClub benefits are shared fairly among all CryptoBitClub members on all sides of the spectrum, from occasional to heavy members.
Going forward, CryptoBitClub also has to possibility to add additional cryptocurrencies.
CryptoBitClub potential members are everyone who currently owns or wishes to own blockchain based assets and wants to effectively utilize them as means of payment outside of the crypto currency ecosystem.
While the total number of crypto currency users around the globe is difficult to assess with reasonable accuracy, at the time of writing this figure is estimated to exceed 15 million and is likely to grow substantially in the future.