Terms of Service for alphabit.buzz
Last Updated: September 11, 2023
Please read these Terms of Service ("Terms") carefully before using the services provided by alphabit.buzz (the "Website" or "Service"). The Service is operated by AlphaBit ("the Company," "We," "Us," or "Our"). By accessing or using the Service, you ("User," "You," or "Your") agree to be bound by these Terms. If you do not agree with any part of these Terms, you must not use the Service.
1. Definitions
- Company: Refers to AlphaBit, the operator of alphabit.buzz, located at 123 Main Street, Suite 456, Springfield, IL 62701, USA.
- Service: Refers to the cloud mining services, including access to computing power for cryptocurrency mining, provided through alphabit.buzz.
- User: Refers to any individual or entity accessing or using the Service.
- Hashrate: The computational power provided by the Company for cryptocurrency mining, measured in TH/s (terahashes per second) or similar units.
- Cryptocurrency: Digital currencies, such as Bitcoin, mined using the Service.
- Mining Pool: A third-party service selected by the User to direct the hashrate for mining cryptocurrencies.
2. Eligibility
To use the Service, you must:
- Be at least 18 years old or the age of majority in your jurisdiction.
- Not be located in a country or region subject to U.S. or international sanctions or embargoes.
- Comply with all applicable laws and regulations in your jurisdiction.
3. Description of Service
AlphaBit provides cloud mining services, allowing Users to rent computational power (hashrate) for mining cryptocurrencies using the SHA-256 Asicboost algorithm or other specified algorithms. Users purchase mining contracts that define the hashrate, duration, and applicable cryptocurrency. The Service does not involve physical ownership or delivery of mining hardware. Earnings from mining are transferred directly to the User’s designated wallet or mining pool account.
4. User Responsibilities
4.1 Account Creation
- You must create an account to use the Service, providing accurate and complete information.
- You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account.
- You must immediately notify Us of any unauthorized access or use of your account.
4.2 Wallet and Mining Pool
- You are solely responsible for providing accurate wallet addresses and mining pool data where mining proceeds will be sent.
- We are not liable for losses due to incorrect or misspelled wallet addresses or mining pool data provided by You.
- You must ensure that the selected mining pool supports the chosen cryptocurrency and algorithm.
4.3 Monitoring
- You are responsible for monitoring the hashrate performance in your chosen mining pool to ensure it aligns with the contracted hashrate.
- We will provide documentation of the hashrate delivered to the mining pool, but You must verify performance independently.
5. Payments and Fees
5.1 Mining Contracts
- Mining contracts are priced in USD and may be paid via bank wire transfer or cryptocurrencies (e.g., BTC, ETH, USDT). All cryptocurrency payments are converted to USDT upon receipt.
- All sales are final and non-refundable, consistent with industry standards.
- Contract details, including hashrate, duration, and fees, are specified at the time of purchase.
5.2 Additional Fees
- You are responsible for any transaction or withdrawal fees charged by cryptocurrency exchanges, mining pools, or banks.
- We do not charge hidden fees, but maintenance and electricity costs may be deducted as outlined in your contract.
5.3 Refunds
- Refunds are issued only if a product is out of stock or if the Service cannot be provided as agreed. Refunds will be based on the USD value at the time of the original purchase.
6. Risks and Disclaimers
6.1 Cryptocurrency Risks
- Cryptocurrency mining involves significant risks, including but not limited to market volatility, regulatory changes, technological risks, and potential loss of investment.
- We are not responsible for fluctuations in cryptocurrency value, exchange rates, or mining difficulty.
- You acknowledge that mining profitability is not guaranteed and depends on market conditions, mining pool performance, and other factors beyond Our control.
6.2 Service Limitations
- We provide hashrate as specified in the contract but are not responsible for issues arising from third-party mining pools, such as downtime or reduced performance.
- If a selected mining pool cannot support the agreed hashrate, We will notify You and may recommend switching pools or offer a contract withdrawal if mining has not started.
6.3 No Financial Advice
- The Service does not provide financial, investment, or tax advice. You are responsible for conducting your own research and consulting qualified professionals before using the Service.
7. Intellectual Property
All content, trademarks, and intellectual property on the Website, including text, graphics, and software, are owned by or licensed to AlphaBit. You may not copy, distribute, or use any content without Our prior written consent, except for personal, non-commercial use.
8. Privacy
We are committed to protecting your privacy. Our collection and use of personal information are governed by Our Privacy Policy, available at alphabit.buzz/privacy-policy. By using the Service, you consent to the collection and use of your data as described therein.
9. Limitation of Liability
To the fullest extent permitted by law, AlphaBit shall not be liable for:
- Any direct, indirect, incidental, or consequential damages arising from the use of the Service.
- Losses due to incorrect wallet addresses, mining pool issues, or third-party service failures.
- Changes in cryptocurrency regulations, taxation, or technological advancements affecting mining.
- Any errors, malfunctions, or security breaches in third-party wallets or mining pools.
10. Termination
We reserve the right to suspend or terminate your access to the Service at Our discretion, with or without notice, for reasons including but not limited to:
- Violation of these Terms.
- Suspected fraudulent or illegal activity.
- Failure to comply with payment obligations.
Upon termination, your right to use the Service ceases, and any active mining contracts may be canceled without refund, subject to applicable law.
11. Governing Law and Dispute Resolution
These Terms are governed by the laws of the State of Illinois, USA, without regard to its conflict of law principles. Any disputes arising from these Terms shall be resolved through binding arbitration in Springfield, Illinois, in accordance with the rules of the American Arbitration Association.
12. Changes to These Terms
We may update these Terms at any time. The updated Terms will be posted on the Website with the "Last Updated" date. Continued use of the Service after such changes constitutes your acceptance of the revised Terms.
13. Contact Information
For questions or concerns about these Terms or the Service, please contact Us at:
By using alphabit.buzz, you acknowledge that you have read, understood, and agree to be bound by these Terms of Service.