The App is offered and available to users who are 18 years of age or older, and most international markets. However some features and capabilities might be limited in certain markets. By using the App, you represent and warrant that you are of legal age to form a binding contract with the Company and meet all of the foregoing eligibility requirements. If you do not meet all of these requirements, you must not access or use the App.
DropBit Services. DropBit provides a way to store, use, and manage Bitcoin and other supported cryptocurrencies designated by DropBit (“supported cryptocurrencies”), using our wallet service, which we call DropBit Wallet. At present, Bitcoin is the only supported cryptocurrency, although our Services may evolve over time. This means we may make changes, replace, or discontinue (temporarily or permanently) our Services at any time for any reason with or without notice. In this case, you may be prevented from accessing or using our Services. If, in our sole discretion, we decide to permanently discontinue our Services, we will use commercially reasonable efforts to provide general notice via our App. You may send and receive supported cryptocurrencies only to another DropBit user, or to an external account or wallet outside of your DropBit Wallet. DropBit does not charge any transaction or processing fees, however every transaction in Bitcoin is subject to transaction processing fees inherent to the blockchain (payable to the miner who mines the block in which your transaction is processed). Such fees will be displayed by the App before you confirm any transaction.
How Your Wallet Works. Your Bitcoin is held in your DropBit Wallet in “native” form, recorded on the Bitcoin blockchain. When you create a DropBit Wallet, the Services generate and store a cryptographic private and public key pair that you may use to send and receive Bitcoin (and/or other supported cryptocurrency) via the relevant cryptocurrency network.
Your Public Key: The public key generated by the Services serves as your cryptocurrency wallet address, and is stored on your mobile device. We do not keep a copy of your public key associated with your identity or phone number, but are able to authenticate that your public key is associated with the DropBit Wallet.
Your Private Key: The private key uniquely matches the wallet address and must be used in connection with the wallet address to authorize the transfer of cryptocurrency from or to that wallet address. The private key is stored in encrypted form on your mobile device. Importantly, your private key provides access to and security for your Bitcoin and your DropBit Wallet. DropBit has no access to your private key and may not, under any circumstance, initiate a transaction using your private key on your behalf. If you lose your private key, DropBit cannot recover it for you.
Important Information Regarding Transactions in Bitcoin and Supported Cryptocurrencies DropBit cannot and does not guarantee the fiat currency value of bitcoin, or any supported cryptocurrency. You acknowledge and agree that the value of a cryptocurrency is highly volatile and that buying, selling, and holding any cryptocurrency involves a high degree of risk. Cryptocurrency networks are operated by decentralized networks of independent third parties. Once a transaction request has been submitted to a network via the Services, the network will automatically complete or reject the request and you will not be able to cancel or otherwise modify your transaction request.
The relevant cryptocurrency blockchain is solely responsible for verifying and confirming proposed transactions that you submit via the Services, and DropBit cannot and does not confirm, cancel, or reverse transactions, other than confirmation of the relevant network’s completion of a transaction. The Services submit your transaction request for confirmation to the relevant network. However, DropBit has no control over any cryptocurrency network and therefore cannot and does not guarantee that any transaction request you submit via the Services will be completed. You acknowledge and agree that the transaction requests you submit via the Services may not be completed, or may be substantially delayed. When you complete a transaction request via the Services, you authorize us to submit your transaction request to the relevant network in accordance with the instructions you provide via the Services. Once a transaction has been initiated, it cannot be reversed.
Liability for Errors. You acknowledge and agree that DropBit is not responsible for any errors or omissions that you make in connection with any cryptocurrency transaction initiated via the Services, including but not limited to use of any incorrect address or the loss of your private key.
Wallet Recovery Seed Words As part of the Services, the App will generate a string of “Seed Words” uniquely associated with your DropBit Wallet. You agree that you are solely responsible for your Seed Word string and shall take the necessary precautions to ensure safekeeping of that Seed Word string. The Seed Word string allows you, the sole owner of your DropBit Wallet’s private key, to recover your DropBit Wallet in case your phone becomes unavailable for whatever reason including, but not limited to, the following: loss, theft, device damage or failure, forgotten PIN, or any other circumstance that would prohibit you from accessing the DropBit Wallet. In order to safekeep your Seed Word string, you shall make copies of your Seed Word string and shall securely store all copies. Proper storage of your Seed Word string is vital to prevent risk of loss or damage from natural disasters or risk of unauthorized access to your funds. YOU FULLY UNDERSTAND THAT ANY FAILURE TO MAKE AND PROTECT YOUR SEED WORD STRING MAY LEAD TO TOTAL LOSS OF THE FUNDS ASSOCIATED WITH YOUR DropBit WALLET PRIVATE KEY.
Lightning Wallet While the Bitcoin wallets are all non-custodial as outlined above, the DropBit Lightning Network Wallets are custodial in order to provide an easier user-experience for transacting and sending/receiving Bitcoin by use of the lightning network. Accordingly, any funds stored on the lightning wallet of your DropBit app are at risk of loss due to a security breach or other attack and will not be reimbursed by the Company. We will however make every effort to ensure proper security measures are in place and followed. We strongly recommend keeping a small balance (less than $100 USD) on your lightning wallet at any one time. For larger balances, we recommend keeping on the Bitcoin wallet in DropBit and load/refill your lightning network wallet as needed.
Accessing the App and Security We reserve the right to withdraw or change the App, and any service or material we provide on the App, in our sole discretion without notice. We will not be liable if for any reason all or any part of the App is unavailable at any time or for any period.
You are responsible for:
Consent to Use of SMS/Text Communication and Push Notifications To use the DropBit Services, you must have a valid mobile phone number. Although you may provide us with access to your phone number, we will not access your phone number directly, but will use a hashed version of your phone number for authentication purposes. If you directly provide us with or we otherwise receive a plain text phone number to facilitate an invitation, we may use that phone number for the purpose it was provided and we will then delete such data in accordance with our then current data retention policies. By way of example, you may use the DropBit Wallet to facilitate a transfer of supported cryptocurrency from your DropBit Wallet to another party via SMS messaging. If you initiate a transfer to someone who does not currently have a DropBit Wallet, we will have access to the recipient’s phone number for a limited period of time in order to send an invitation to the recipient to download the DropBit Wallet to receive the transfer. In order to function properly, the App requires permission to send push notifications to your mobile device and you hereby consent to such communications.
Intellectual Property Rights The App and its entire contents, features and functionality (including but not limited to all information, software, text, displays, images, video and audio, and the design, selection and arrangement thereof), are owned by the Company, its licensors or other providers of such material and are protected by United States and international copyright, trademark, patent, trade secret and other intellectual property or proprietary rights laws.
You must not:
Trademarks The Company name, the terms DropBit, CoinNinja, and all related names, logos, product and service names, designs and slogans are trademarks of the Company or its affiliates or licensors. You must not use such marks without the prior written permission of the Company.
Additionally, you agree not to:
Reliance on Information Posted The information presented on or through the App is made available solely for general information purposes. We do not warrant the accuracy, completeness or usefulness of this information. Any reliance you place on such information is strictly at your own risk. We disclaim all liability and responsibility arising from any reliance placed on such materials by you or any other visitor to the App, or by anyone who may be informed of any of its contents.
The Website may include content provided by third parties, including materials provided by other users, bloggers and third-party licensors, syndicators, aggregators and/or reporting services. All statements and/or opinions expressed in these materials, and all articles and responses to questions and other content, other than the content provided by the Company, are solely the opinions and the responsibility of the person or entity providing those materials. These materials do not necessarily reflect the opinion of the Company. We are not responsible, or liable to you or any third party, for the content or accuracy of any materials provided by any third parties.
Changes to the App We may update the content on the App from time to time, but its content is not necessarily complete or up-to-date. Any of the material on the App may be out of date at any given time, and we are under no obligation to update such material.
Linking to the Website. You may link to our homepage, provided you do so in a way that is fair and legal and does not damage our reputation or take advantage of it, but you must not establish a link in such a way as to suggest any form of association, approval or endorsement on our part without our express written consent.
Links from the App. If the App contains links to other sites and resources provided by third parties, these links are provided for your convenience only. This includes links contained in advertisements, including banner advertisements and sponsored links. We have no control over the contents of those sites or resources, and accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to access any of the third party websites linked to the App, you do so entirely at your own risk and subject to the terms and conditions of use for such websites.
Geographic Restrictions The owner of the App is based in the state of Ohio in the United States. For the purpose of this paragraph, an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person. For the purpose of this paragraph, personal data shall mean any information relating to an identified or identifiable natural person.
No Advice. DropBit is not acting and cannot act as an advisor, including as to any financial, legal, investment, insurance and/or tax matters. Any information provided by DropBit is for general information only. You are solely responsible for determining whether any contemplated transaction is appropriate for you.
Disclaimer of Warranties You understand that we cannot and do not guarantee or warrant that files available for downloading from the internet or the App will be free of viruses or other destructive code. You are responsible for implementing sufficient procedures and checkpoints to satisfy your particular requirements for anti-virus protection and accuracy of data input and output, and for maintaining a means external to our App for any reconstruction of any lost data. WE WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY A DISTRIBUTED DENIAL-OF-SERVICE ATTACK, VIRUSES OR OTHER TECHNOLOGICALLY HARMFUL MATERIAL THAT MAY INFECT YOUR COMPUTER EQUIPMENT, COMPUTER PROGRAMS, DATA OR OTHER PROPRIETARY MATERIAL DUE TO YOUR USE OF THE APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE OR TO YOUR DOWNLOADING OF ANY MATERIAL POSTED ON IT (INCLUDING THE APP), OR ON ANY WEBSITE LINKED TO IT.
YOUR USE OF THE APP IS AT YOUR OWN RISK. THE APP IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED. NEITHER THE COMPANY NOR ANY PERSON ASSOCIATED WITH THE COMPANY MAKES ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE COMPLETENESS, SECURITY, RELIABILITY, QUALITY, ACCURACY OR AVAILABILITY. WITHOUT LIMITING THE FOREGOING, NEITHER THE COMPANY NOR ANYONE ASSOCIATED WITH THE COMPANY REPRESENTS OR WARRANTS THAT THE APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE WEBSITE WILL BE ACCURATE, RELIABLE, ERROR-FREE OR UNINTERRUPTED, THAT DEFECTS WILL BE CORRECTED, THAT OUR SITE OR THE SERVER THAT MAKES IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS OR THAT THE APP OR ANY SERVICES OR ITEMS OBTAINED THROUGH THE APP WILL OTHERWISE MEET YOUR NEEDS OR EXPECTATIONS.
THE COMPANY HEREBY DISCLAIMS ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, STATUTORY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, NON-INFRINGEMENT AND FITNESS FOR PARTICULAR PURPOSE.
THE FOREGOING DOES NOT AFFECT ANY WARRANTIES WHICH CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW.
Your Comments and Concerns
Coin Ninja LLC d/b/a Dropbit
All other feedback, comments, requests for technical support and other communications relating to the App should be directed to: firstname.lastname@example.org.