Terms of Service
Last updated: April 2025Please read these Terms of Service carefully before using the Xbit platform. These Terms constitute a legally binding agreement between you and Xbit Inc. governing your access to and use of the Service.
1. Acceptance of Terms
By creating an account or using any part of the Xbit platform ("Service"), you agree to be bound by these Terms of Service ("Terms"). If you do not agree to these Terms, you must not use the Service. We may update these Terms from time to time; continued use of the Service constitutes acceptance of the revised Terms.
2. Eligibility
To use Xbit you must: • Be at least 18 years of age (or the age of majority in your jurisdiction) • Be a natural person, not a legal entity unless expressly permitted • Not be a resident of a jurisdiction where our services are prohibited • Not be on any sanctions list or subject to financial restrictions • Successfully complete KYC identity verification before placing orders
3. Account Registration & KYC
You must register an account and complete identity verification (KYC) before you can buy or sell cryptocurrency. You agree to provide accurate, current, and complete information during registration and to update it if it changes. We reserve the right to refuse service, suspend, or terminate accounts that provide false information or fail verification.
4. Permitted Use
You agree to use Xbit only for lawful purposes. You must not: • Use the platform to launder money, finance terrorism, or engage in other illegal activity • Attempt to circumvent our KYC or AML controls • Use automated tools, bots, or scripts to access the platform without our written permission • Reverse-engineer, decompile, or copy any part of the platform • Introduce viruses, malware, or other harmful code • Impersonate any person or entity
5. Orders & Settlement
When you place a buy order, you are requesting that Xbit acquire and transfer a specified amount of cryptocurrency to your designated wallet address in exchange for fiat payment. Orders are binding once payment is confirmed. Quoted exchange rates are locked for 90 seconds; if your payment is not completed within this window, a new rate will apply. We are not responsible for losses arising from price movements after a quote expires.
6. Non-Custodial Model
Xbit does not hold, custody, or manage your cryptocurrency. Upon successful payment, cryptocurrency is dispatched directly to the wallet address you provide. You are solely responsible for the security of your wallet and private keys. Xbit cannot recover cryptocurrency sent to an incorrect address.
7. Fees
Platform fees are disclosed on the Fees & Limits page and shown at checkout before you confirm any order. Network (gas) fees are paid to blockchain validators and are outside our control; they are estimated and shown at checkout. Fees may change with notice.
8. AML & Sanctions Compliance
We screen all wallet addresses and transactions against AML risk databases. Orders involving high-risk addresses will be rejected or reversed. We are required by law to report suspicious activity to relevant authorities. Funds involved in flagged orders may be held pending investigation.
9. Prohibited Jurisdictions
Our services are not available to residents of jurisdictions subject to comprehensive OFAC, EU, or UN sanctions, or where our services are otherwise prohibited by local law. By using Xbit, you confirm that you are not located in, incorporated in, or a national or resident of any such jurisdiction.
10. Limitation of Liability
To the fullest extent permitted by law, Xbit shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits or cryptocurrency, arising out of or related to your use of the platform. Our total liability for any claim shall not exceed the fees you paid to us in the 30 days preceding the claim.
11. Disclaimer of Warranties
The Service is provided "as is" and "as available" without warranties of any kind, express or implied. We do not warrant that the Service will be uninterrupted, error-free, or free of viruses. Cryptocurrency investments carry significant risk — past performance is not indicative of future results.
12. Governing Law & Disputes
These Terms are governed by the laws of Georgia (the country). Any dispute arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of Tbilisi, Georgia, unless otherwise required by applicable consumer protection law in your jurisdiction.
13. Contact
For legal inquiries, contact legal@xbit.ge. For support inquiries, visit our Support page.
Questions about these Terms? Contact us at legal@xbit.ge