Terms Of Use

1. Information
Information published on exchange.scotcoinproject.com The website http://exchange.scotcoinproject.com/ (hereinafter, referred to as the “Website”) provides information and material of a general nature. You are not authorised and nor should you rely on the Website for legal advice, business advice, or advice of any kind. You act at your own risk in reliance on the contents of the Website. Should you make a decision to act or not act you should contact a licensed attorney in the relevant jurisdiction in which you want or need help. In no way are the owners of, or contributors to, the Website responsible for the actions, decisions, or other behaviour taken or not taken by you in reliance upon the Website.

2. Translations
The Website may contain translations of the English version of the content available on the Website. These translations are provided only as a convenience. In the event of any conflict between the English language version and the translated version, the English language version shall take precedence. If you notice any inconsistency, please report them via our contact form.

3. Risks related to the use of Scotcoin
The Website will not be responsible for any losses, damages or claims arising from events falling within the scope of the following five categories:

(1) Mistakes made by the user of any Scotcoin-related software or service, e.g., forgotten passwords, payments sent to wrong Scotcoin addresses, and accidental deletion of wallets.

(2) Software problems of the Website and/or any Scotcoin-related software or service, e.g., corrupted wallet file, incorrectly constructed transactions, unsafe cryptographic libraries, malware affecting the Website and/or any Scotcoin-related software or service.

(3) Technical failures in the hardware of the user of any Scotcoin-related software or service, e.g., data loss due to a faulty or damaged storage device.

(4) Security problems experienced by the user of any Scotcoin-related software or service, e.g., unauthorised access to users’ wallets and/or accounts.

(5) Actions or inactions of third parties and/or events experienced by third parties, e.g., bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties.

(6) You MUST back up or otherwise securely store your 12 word pass phrase as instructed during wallet set up. If you fail to observe this critical instruction, you risk loss of access to your coins.

If you only want to hold your Scotcoin, you do not need to have anything else in your wallet. But please be aware that in order to make a transaction with Scotcoin, it is necessary to have a small amount of Bitcoin in your wallet to cover the miner’s fees.

When we migrate from the present Scotcoin on Counterparty to our new Version 3, you will require a tiny amount of Bitcoin in order to forward your existing Scotcoin to exchange them for V3.

3a. Risks related to the use of the Scotcoin Exchange

(1) All sales are considered final and no refunds will be given.

(2) In the case of PayPal chargebacks, Bitcoin and other cryptocurrencies are considered intangible products and do not qualify for buyer protection due to their nature of provable instant delivery.

(3) Your order will normally be processed and coins delivered to the receiving address specified during checkout within 24 hours but allow up to 72 hours for completion.

(4) If you still not received your coins or have not been contacted by us to resolve an issue with your order after 72 hours, please contact The Scotcoin Project immediately using the contact form found at http://scotcoinproject.com/contact/ mentioning your order on the exchange.

(5) Transaction volume is strictly limited to a maximum value of £200 per customer per week.

(6) Website users may lift these limits by confirming their identity with The Scotcoin Project.

(7) Use of this website and completing an order shall be indicates your explicit acceptance of these and subsequent terms and conditions.

4. Investment risks
The investment in Scotcoin can lead to loss of money over short or even long periods. The investors in Scotcoin should expect prices to have large range fluctuations. The information published on the Website cannot guarantee that the investors in Scotcoin would not lose money.

5. Compliance with tax obligations
The users of the Website are solely responsible to determinate what, if any, taxes apply to their Scotcoin transactions. The owners of, or contributors to, the Website are NOT responsible for determining the taxes that apply to Scotcoin transactions.

6. The Website does not store, send, or receive Bitcoin
The Website does not store, send or receive Bitcoin, Scotcoin, or any other cryptocurrency.  This is because the currencies exist only by virtue of the ownership record maintained in their respective networks.

7. No warranties
The Website is provided on an “as is” basis without any warranties of any kind regarding the Website and/or any content, data, materials and/or services provided on the Website.

8. Limitation of liability
Unless otherwise required by law, in no event shall the owners of, or contributors to, the Website be liable for any damages of any kind, including, but not limited to, loss of use, loss of profits, or loss of data arising out of or in any way connected with the use of the Website.

9. Arbitration
The user of the Website agrees to arbitrate any dispute arising from or in connection with the Website or this disclaimer, except for disputes related to copyrights, logos, trademarks, trade names, trade secrets or patents.