Last update: February 16, 2025.
1.1 These Terms and Conditions constitute a legally binding agreement made between you, whether personally or on behalf of an entity (“You” and/or “User”) and B4BIT, S.A.P.I. DE C.V. (“B4BiT”), concerning your access to and use of the services provided by B4BiT within the website www.b4bit.com as well as any other media form, media channel, mobile website or mobile application related, linked, or otherwise connected thereto (the “Site”).
1.2. By accessing, using or downloading any service from our Site or creating a user account, you agree to be bound by these Terms and Conditions, as well as all legal documents available in the "Terms and Conditions" section of the Site. These documents, together, form the Agreement and may be modified at any time. You agree to review these documents regularly to be aware of any changes and not to use the services if you do not agree with them. Furthermore, you agree to comply with applicable national and international laws and regulations.
1.3 B4BiT is a Site that offers the following Services:
Virtual Assets are not legal tender in Mexico and are not backed by the Federal Government of Mexico, nor by the Bank of Mexico. It is not possible to reverse operations once executed. There is high volatility regarding the value of Virtual Assets and the Platform, for which B4BiT shall in no case be responsible. B4BiT is not responsible or guarantees the resources of the Users that are used in the operations of the Platform or Mobile Application.
B4BiT under no circumstances provides advice to the User, so the veracity and integrity of their accounting, tax and financial information is the exclusive responsibility of the User.
We may make changes to these Terms and Conditions at any time. The updated version of these Terms and Conditions will be indicated with an updated “Revised” date and the updated version will be effective as soon as it is accessible on the Site. You are responsible for reviewing these Terms and Conditions to stay informed of updates. Your use of the Site implies that You have expressly accepted any changes or updates to the Terms and Conditions.
We may update or modify the Site from time to time to reflect changes or adjustments in our Services, the needs of our users and/or our business priorities, among other reasons.
Our Site is directed to residents in the United Mexican States. The information provided on the Site is not intended for distribution to or use by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration, procedure or authorization requirement within such jurisdiction or country. TO USE OUR SERVICES, YOU WARRANT THAT YOU HAVE NOT BEEN INCLUDED IN ANY LIST OF ECONOMIC SANCTIONS OR TRADE EMBARGOES (SUCH AS THE UNITED NATIONS SECURITY COUNCIL SANCTIONS LIST), THE LISTS RECOGNIZED OR ISSUED BY THE FINANCIAL INTELLIGENCE UNIT OF THE TAX ADMINISTRATION SERVICE, THE LIST OF SPECIALLY DESIGNATED NATIONALS MAINTAINED BY OFAC (THE OFFICE OF FOREIGN ASSETS CONTROL OF THE UNITED STATES DEPARTMENT OF THE TREASURY), OR THE DENIED PERSONS OR ENTITIES LIST OF THE UNITED STATES DEPARTMENT OF COMMERCE.
Additionally, we may discretionarily restrict the use of our Services in regions or jurisdictions where there are legal prohibitions for it or when legal provisions do not allow the use of our Services or even there are initiatives in process that are not related to this business model.
B4BiT may discretionarily refuse to open an Account for the user in accordance with its internal regulatory compliance policies or close one already opened when it detects legal risks.
The Site is intended for users who are at least 18 years old. If you are under 18, you are prohibited from registering on the Site or using its Services.
It is prohibited to access and/or use the Site for any purpose other than the provision of the Services we make available to you through it. It is prohibited to use the Site for commercial purposes, other than those endorsed and approved by B4BiT.
As a User of this Site, you agree to refrain at all times from:
The object of the present Service Agreement offered by B4BiT, through its Platform or Mobile Application (hereinafter the “Platform”) With any device with internet connection the Client or User can access the Platform through:
To this effect, it should be noted that the integrators do not participate in any way in the provision of services provided by B4BiT which are governed by these Terms and Conditions.
Through the B4BiT application, a self-custody wallet is made available to the user to be able to perform all the operations described below (the “Services”). The User can create such wallet or restore an existing one.
Wallet creation: To create the wallet the client or user must select such option and create a PIN. The platform will provide them with the 12 words of their security seed which they must write down and safeguard. The client or user can activate biometric identification through fingerprint or facial recognition.
Wallet restoration: To restore the wallet the client or user must select such option, introduce the 12 security words and create a PIN. The client or user can activate biometric identification through fingerprint or facial recognition.
Supported Virtual Assets: B4BiT supports the main cryptocurrencies or virtual assets of the market.
The platform will use B4BiT Wallet by default, or failing that, the user can indicate an external wallet. Likewise, it will also be required for this when the operation includes unsupported virtual assets.
Regarding the legal tender currency accepted in B4BiT, it is the Mexican peso (MXN).
Users may not have an account in Mexican pesos in B4BiT, but may only transfer to a CLABE account that will be assigned to them and said funds will be collected by a third party licensed to collect such funds which will be used to acquire virtual assets in a virtual asset exchange in foreign countries, with B4BiT being an intermediary between the user and the Exchange in foreign countries.
Users may withdraw the pesos from their sales of virtual assets to CLABE accounts of which they are holders.
It is important to keep in mind that:
The User will be responsible for:
The Services: B4BiT Wallet will allow the user to have their virtual assets under their control, being the sole custodian of their private access keys, and make use of the following services:
Prior to requesting any service, the client or user accessing the B4BiT platform for the first time or wanting to make use of the services for the first time, must register. For security, both the email and the phone number provided will be verified. The Registration Process is carried out in two steps.
STEP 1. Email verification: The client or user will indicate an email address to register in which they will receive a code that they must enter in the place enabled for such purpose in the registration form and thus be able to continue with the process.
STEP 2. Phone verification: The client or user will indicate a phone number to complete their registration. As in the previous step, the client or user will receive a code (via SMS or WhatsApp) that they must enter in the place enabled. Once the previous steps have been carried out, they only have to indicate their username (the email verified in step 1) and create a valid password to ACCESS (LOG IN) their user account. If on the contrary the client or user is already registered and verified, they will only have to access their user account identifying themselves with their username (email) and password, where they can see their products and perform operations.
SOCIAL LOGIN: However, in the event that the client or user chooses to access the Platform through authentication and account verification services, such as services from different social networks, they will be subject to the terms and conditions established by such social networks. Therefore, we will only request from such platforms the necessary information, which includes the full name and email address, in order to identify the user and facilitate access to B4BiT Services.
For the use of the Services there are three levels of identification of users or clients:
B4BiT provides a cryptocurrency purchase and sale service through bank transfer (all allusions to Virtual Assets are to those that are enabled for purchase or sale at any time. The user or client is recommended to check the list of available Virtual Assets when accessing the Platform). For this, the client makes a purchase order for Virtual Assets, for the amount in pesos they desire. For the provision of the service B4BiT establishes an average price of the Virtual Asset, with a profit margin (B4BiT Commission). Prices will vary depending on the supply and demand of Virtual Assets in the main reference markets. The Client or User must take into account that, to said price will be added the transaction costs “mining fees”, for the validation of the operation in the network, which are completely alien to the service provided by the Platform (Network Commission).
The purchase order will be carried out as follows:
Selection: The user will choose in the dropdown the Virtual Asset they want to buy, as well as the amount in Mexican pesos. Automatically, the platform will offer the user the amount expressed in the Virtual Asset they can buy according to the average price established in B4BiT. If the client or user agrees with the conversion they must accept and continue with the purchase process and perform the bank transfer.
Operation summary: A summary will be shown to the user indicating: 1) the total amount in Mexican pesos to pay, 2) B4BiT commission, 3) Network Commission, 4) wallet address and 5) the amount they will receive of the chosen Virtual Asset.
Once the payment is verified, the purchase operation will be processed and the user or client will receive the purchased virtual asset in the chosen address.
Clients or users who wish to do so can sell their virtual assets through B4BiT, for this it is the same as in the previous case, once the identity verification has been carried out, the following proceeds:
Selection: The client or user will choose in the dropdown the Virtual Asset they want to sell, as well as the amount in Mexican pesos. Automatically, the platform will offer the user the amount expressed of the chosen Virtual Asset they must sell according to the average price established in B4BiT, based on supply and demand of Virtual Assets in the main reference markets, with a profit margin. The client or user must take into account that, to said price, the transaction costs (“mining fees”) for the validation of the operation in the network will be added, which are completely alien to the service provided by the B4BiT platform. If the client or user agrees with the conversion they must accept and continue with the sale process. Therefore, they will always be informed before accepting the sale.
Once the data of the operation has been accepted by the client or user, the data will be indicated so that the client or user proceeds to send the Virtual Asset they want to sell, Once the receipt of the Virtual Asset is verified, the client or user will receive a notification and the amount of the sale will be transferred to the CLABE indicated by the client or user of which they are the holder.
The procedure for the exchange (SWAP) of virtual assets, requires that the client or user indicate their phone number and email address to be able to perform the operation. Once the above is done, the client or user must follow the following steps:
Selection: The client or user must select the Virtual Asset they want to receive and the amount, as well as the Virtual Asset they want to send. The platform will automatically offer the amount of chosen Virtual Assets they must send in the exchange. If the client or user accepts the conversion they will continue with the exchange process.
Once the details of the operation have been accepted by the client or user, the data will be indicated so that the client or user proceeds to send the virtual assets they want to exchange. Once the receipt of the virtual asset is verified, the client or user will receive a notification confirming the completion of the exchange.
On the home screen of the mobile application, the client or user will have a complete visualization of the stored Virtual Assets, as well as a market situation of other Virtual Assets.
Likewise, in addition to the amount stored, the client or user will be able to visualize the conversion to fiat currency of the Virtual Asset in question, the variation experienced in the last 24 hours, as well as a graph of the evolution of the Virtual Asset, among other data of interest.
The user or client can also visualize the representative amount in Mexican pesos of the total amount they have of Virtual Assets, without this meaning that they have custody of Mexican pesos, nor a balance in Mexican pesos.
Likewise, the client or user will have access to their movements, where they can see the detail of each of their transactions and track their funds.
Send: The client or user can send Virtual Assets to the address they wish. For this, B4BiT puts at their disposal the following options: 1) Scan the QR code or enter the shipping address, or 2) connect with B4BiT (Login), to access saved addresses and contacts.
If the client or user selects the second option they will have access to their contact list, which they will visualize depending on whether they are user contacts, in turn, of B4BiT, or contacts created by them.
Once the client or user has entered the address or scanned the QR code or has selected a contact, they only have to indicate the amount of Virtual Assets they want to send. B4BiT will show a summary of the operation containing the following information: 1) Amount of Virtual Assets to send, 2) Network commission, 3) Destination.
If the client or user agrees with the summary of the operation, they must confirm it to perform the shipment.
Once the operation is confirmed by the client or user, the shipment will proceed. They can have access to the data of the same, accessing the detail. Interest information contained in the detail:
Receive: The client or user who wishes so will also have the option to receive Virtual Assets in their wallet. In this case, they will have the option to allow the scanning of the QR code or share their public wallet address so that third parties can perform the shipment.
As in the previous case, the client or user will have access to the data of the operation, accessing the detail. Interest information contained in the detail:
The business owner interested in enabling the acceptance of payments through Virtual Assets in their establishment has the option to contract with B4BiT the platform called B4Bit Pay. Through said platform, they will be given the possibility to accept Virtual Assets as a form of payment in their commercial transactions, with the guarantee that B4BiT will perform the intermediation to deliver Mexican pesos. In case of preferring so, it is possible to contact B4BiT's specialized customer service to receive assistance, and review the terms of use for this specific case.
The business owner, interested in allowing their clients or users to operate with Virtual Assets through a widget and/or API, has the option to request information regarding this through the information form enabled for such purpose on the web. In case of preferring so, it is possible to contact B4BiT's specialized customer service to receive assistance, and review the terms of use for this specific case.
Service for large buyers of Virtual Assets. The user interested in this service must send the form enabled for this purpose.
For the use of the B4BiT Platform and, therefore, of the Services made available to the client or user, the following requirements must be met:
B4BiT holds the ownership and exclusive property of the rights granted by current laws and/or international treaties inherent to intellectual property, relating to all brands, commercial notices, software and computer programs in general, and other figures susceptible to legal protection under the Industrial Property Law and the Federal Copyright Law, in relation to the Site, through which they promote, market and provide their Services, including but not limited to: (i) industrial property derived from titles of trademark registrations and commercial notices granted by the Mexican Institute of Industrial Property; (ii) copyrights regarding the computer program(s), software developments, system(s) and/or their derivatives, granted by the National Institute of Copyright; and (iii) all developments, know-how, distinctive signs and/or goods or rights corresponding to it in the field of intellectual property (the “Intellectual Property”).
B4BiT does not grant any license or authorization for use of any kind over the Intellectual Property, unless expressly agreed in writing, so the User recognizes that: (i) they have no right over the Intellectual Property, so they are obliged to respect at all times the rights held by B4BiT over it; (ii) they may not modify, alter, delete, copy, reproduce, exploit or take advantage of by any means, whether totally or partially, including but not limited to, the informational content generated by B4BiT, the Intellectual Property and/or any indication contained in the Site.
B4BiT provides through a Technical Support area to all users of the Site attention for clarification of doubts, comments or errors about the use of the Site, through the email info@b4bit.com in a service hours from Monday to Friday from 9:00 am to 7:00 pm or through the Site chat.
B4BiT may, without prior notice, suspend, disconnect, deny or restrict access to the Site: i) during a technical failure of the same, or during the modification or maintenance of the Site; ii) if the User uses the B4BiT Site in a manner that violates the Terms and Conditions, and iii) if the User does something or fails to do something that in B4BiT's opinion could result in jeopardizing the operation or integrity of the Site or Mobile Application.
The collection and use of personal data originating in relation to the Services provided on the Site or Mobile Application will be governed in accordance with what is established in the B4BiT Privacy Notice, which is available on the Site, in compliance with what is established by the Federal Law on Protection of Personal Data Held by Private Parties, its regulations and other applicable provisions in the matter.
At the moment you provide your phone number and email through the Site, you expressly authorize B4BiT to send text messages, emails in relation to the Services provided through it. In case the User wishes to opt out of receiving messages or modify the contact form, they must contact B4BiT in accordance with the Terms and Conditions to request it.
B4BiT may discretionarily carry out maintenance, adjustments and/or updates whether emergency or routine on the Site, without prior notice to the user, so during maintenance periods, adjustments and/or updates the Site may not be available or accessible, without this deriving any responsibility on the part of B4BiT
B4BiT is not responsible for any damage or loss suffered by users directly or indirectly due to the use of the Site, whether due to failures in it, in the server, on the Internet in general, or for any other cause. B4BiT will also not be responsible for any virus that could infect the User's equipment as a consequence of access or use of the Site or by virtue of any transfer of information or contents in it. The User cannot demand any responsibility from B4BiT, nor can they demand payment of any amount for compensation derived from damages or losses due to technical difficulties or Internet failures.
B4BiT does not guarantee continuous access and use of the Site because it may arguably not be available due to technical difficulties or any cause alien to B4BiT, without B4BiT being imputed responsibility for it. Likewise, considering that the Site requires technology and the participation and services of third parties, B4BiT does not guarantee or take responsibility for changes in any of these services and third-party participations that may adversely affect the Site and/or the provision of the Services.
B4BiT will not be responsible for any delay and/or non-compliance derived from the occurrence of any fortuitous event or force majeure, such as natural disasters, wars, terrorist acts, pandemics, generalized disturbances, fires, earthquakes, floods, general power outages, strikes, adverse weather conditions, acts of hackers, and acts of Internet service providers among others.
The Site may contain advertising and/or links to other third-party websites. In such cases, B4BiT will not be responsible in any way for the content, products, services, ads or other information that may be provided by or through such sites or advertising, nor for their privacy policies or their compliance with applicable legal provisions.
If you access the Services via a mobile application, then we grant you a revocable, non-exclusive, non-transferable, limited right to install and use the mobile application on wireless electronic devices owned or controlled by you, and to access and use the mobile application on such devices strictly in accordance with the terms and conditions of this mobile application license contained in these Terms of Use.
The use and access to the Site, and the contracting of Services through it is at your own risk, so at no time should it be understood that B4BiT provides any type of advice, recommendation or opinion of a legal, financial, accounting, labor or any other type of professional advice. Any information provided by B4BiT through its Site will be solely and exclusively informative and should not be interpreted as a provision of Services.
In the event that any damage, impact, impairment, loss or prejudice occurs due to delay in delivery, error, inaccuracy or falsehood, whether directly or indirectly, in the information (or modifications to the information), that has been provided directly or indirectly by the User, B4BiT will not be responsible for them, including, but not limited to, any claim, demand, notification, notice, summons, instruction, order, action, litigation or procedure, derived from, stemming from, or that in any other way relates, directly or indirectly, to said damage, impact, impairment, loss or prejudice.
The Site and Services are offered and provided as is and as available. You accept that the use of the Site and its Services will be at your own risk and responsibility. All guarantees, terms, conditions, commitments, express or implied in relation to the Site and Services, as well as regarding their use are excluded to the maximum extent permitted by applicable legislation.
We do not offer guarantees or representations about the accuracy or completeness of the Site's content and we are not responsible for any: i) error or omission in the Site's content; ii) any unauthorized access or use of our servers and/or any personal and/or financial information stored on our server; iii) any interruption or cessation of transmission to or from the Site or linked to the Services; and/or iv) any error, virus, trojan or similar that may be transmitted to or from the Site or through a third party. B4BiT will not be responsible for any delay or non-compliance with its obligations under these Terms and Conditions if such delay or non-compliance is caused by an event beyond its reasonable control.
We will not be responsible to you for any loss or damage, whether by contract, tort (including negligence), breach of legal duty or otherwise, even if foreseeable, arising from or in relation to: i) the use or inability to use our Site and any of the Services; and/or ii) the use of any content displayed on our Site. In particular we will not be responsible for: i) loss of profits, sales, business revenue; ii) interruption of any business or activity; iii) loss of anticipated savings; iv) loss of business opportunity, goodwill or reputation; v) any direct or indirect loss or damage. Please note that we only provide our Site for private use. You expressly agree and without limitation not to use our Site for commercial purposes.
14.1. You agree and are obliged to indemnify, defend and hold harmless B4BiT (including, but not limited to, its respective shareholders, directors, managers, officers, representatives agents and employees) (the “Indemnified Parties”), from any claim, controversy, demand, trial, procedure, liability, sanction, fine damage, loss, expense or cost (jointly, the “Claims” and/or “Claim”), that could be made against it by reason or in relation to: i) access or use of the Site or Services by any of its users; ii) use of the User's account (including any willful, fraudulent or illicit act); iii) delay in delivery, error, inaccuracy or falsehood, whether directly or indirectly, in the information (or modifications to the information) that has been provided by the User, whether directly or indirectly; iv) violation or alleged violation of any intellectual property right of B4BiT or third parties; v) non-compliance or violation of any laws, norms or regulations applicable to the Indemnified Parties or the User, directly or indirectly; or vi) any non-compliance with these Terms and Conditions or any B4BiT policy, by the User, whether directly or indirectly.
14.2. By reason of the foregoing, the User agrees to indemnify and exempt the Indemnified Parties from liability for any Claim, obliging themselves to advance or reimburse B4BiT any amount it requires for attorney's fees, legal and accounting costs. In case the User whether directly or indirectly has knowledge of any Claim against any Indemnified Party they must notify B4BiT immediately through the contact means available on the Site, the User must take at their own expense and responsibility all necessary measures to mitigate any Claim against the Indemnified Parties. The foregoing, with the understanding that such notification will not exempt the User from their other obligations according to what is established in these Terms and Conditions.
Between You and B4BiT there is no employment relationship whatsoever but a commercial relationship of totally independent parties from each other. So at no time will it be considered that there is any type of association between B4BiT and the User. If not we act as an intermediary in operations with virtual assets.
All information provided by the User will be treated as confidential information and may not be disclosed without the User's consent, except to those officers, employees, representatives or advisors of B4BiT who need to know the information for the fulfillment of obligations related to the operation of the Site and the provision of Services, in accordance with these Terms and Conditions. However, B4BiT may disclose the information provided by the User to comply with governmental, administrative or judicial requirements to which it is subject, with prior notice to the User and, provided that the disclosure of the information is mandatory for B4BiT in accordance with applicable laws or with any authority order. This confidentiality obligation will conclude 6 (six) months following the termination date of these Terms and Conditions and will not cease due to the expiration, suspension, termination or rescission of these Terms and Conditions.
B4BiT is not obliged, but has the right to monitor access and use of the Site by the User, as well as to investigate conduct that it considers could affect the Site and/or the Services, including possible violations of these Terms and Conditions or applicable provisions.
B4BiT may modify the Terms and Conditions at any time, without the need to notify the user in advance. Without prejudice to the foregoing, B4BiT may publish updates or modifications to the Site's Terms and Conditions, with the understanding that the sole use thereof implies express acceptance by the user of any update or modification of the General Terms and Conditions
We reserve the right to change, modify or remove content from the Site at any time or for any reason at our sole discretion without prior notice. We also reserve the right to modify or discontinue all or part of the Services without prior notice at any time.
There may be information on the Site that contains typographical errors, inaccuracies or omissions that may be related to the Services, including descriptions, prices, availability or other information. We reserve the right, without being obliged to do so, to correct any error, inaccuracy or omission to change or update information at any time, without prior notice.
These Terms and Conditions shall remain in full force and effect while you use the Site or Services or are a User of the Site, as applicable. You may terminate your use or participation at any time, for any reason, by following the instructions for canceling User accounts in your account settings, if available, or by contacting us.
Without limiting any other provision of these Terms and Conditions, in our sole discretion and without notice or liability, we reserve the right to deny access to and use of the Site and/or any of the Services to any person, for any reason or for no reason, including without limitation for breach of any representation, warranty, or covenant contained in these Terms and Conditions or of any applicable law or regulation.
The title of each of the headings indicated in these Terms and Conditions is exclusively for descriptive purposes, and must adhere to their content for interpretation and compliance.
These Terms and Conditions constitute the entire understanding and agreement between the User and B4BiT, and shall prevail over any other verbal and/or written agreement prior to the date of acceptance of these Terms and Conditions. In the event that any or some of the provisions of this document were considered, for any reason invalid, illegal or unenforceable, these shall not affect the validity of the other provisions contained herein.
The user may not assign and/or transfer totally or partially by any title the rights and/or obligations derived from these Terms and Conditions, nor from the Services without the prior, express and written consent of B4BiT. Instead, B4BiT may freely assign or transfer, totally or partially these Terms and Conditions being sufficient for this a written notification to the User.
These Terms and Conditions shall be governed by and defined following the laws of the State of Quintana Roo. All disagreements arising from these Terms and Conditions, including their breach, resolution or nullity, shall be definitively resolved in accordance with the Arbitration Rules of the Arbitration Center of Mexico (CAM), by a single arbitrator appointed in accordance with said Rules. The seat of the arbitration shall be Mexico City and the language shall be Spanish.