Terms & Conditions
Effective Date: 2 July 2025 | Last Updated: 2 July 2025
Welcome to our platform. By accessing or using our website or services, you agree to be bound by the following Terms and Conditions. Please read them carefully.
1. Definitions
"We", "our", "us" refers to the company providing Bitcoin-backed loans.
"You", "your", "user" refers to any person who accesses the website, applies for a loan, or uses our services.
"BTC" or "bitcoin" refers to the cryptocurrency used as collateral.
2. Eligibility
You must be:
At least 18 years old
A resident of South Africa with a valid South African ID
The lawful owner of the Bitcoin being pledged as collateral
3. Services Offered
We provide fiat currency loans (in ZAR) secured by Bitcoin collateral. You retain ownership of your BTC, but it is held in secure custody until the loan is fully repaid.
4. Loan Terms
Loan terms including interest rate, duration, repayment schedule, and collateral requirements are disclosed before acceptance. By confirming a loan, you agree to be legally bound by its terms and the associated loan agreement.
5. Collateral Management
Collateral must be deposited into a designated wallet before loan disbursement.
Collateral is stored securely using multi-signature or cold storage solutions.
If your Loan-to-Value (LTV) exceeds agreed thresholds due to BTC price decline, you may be subject to margin calls or automatic liquidation of collateral.
6. Margin Calls and Liquidation
If your LTV exceeds a specified threshold (e.g., 65%), you will be required to top up collateral or partially repay the loan.
If your LTV exceeds the liquidation threshold (e.g., 75%), we reserve the right to sell your collateral without further notice.
We are not liable for any loss due to liquidation resulting from price volatility or user inaction.
7. Fees and Repayment
All fees (e.g., interest, processing, custody) will be disclosed before you accept a loan.
You may repay your loan early without penalty.
Upon full repayment, your BTC collateral will be returned within two (2) business days.
8. User Responsibilities
You agree to:
Provide accurate and complete information during onboarding
Use our platform only for lawful purposes
Keep your login credentials secure
Monitor your email and phone for important notices
9. Prohibited Activities
You may not use our services to:
Launder money or engage in unlawful financial activity
Violate any South African laws or regulations
Attempt to reverse-engineer, hack, or exploit the platform
10. Limitation of Liability
We do not guarantee:
The future value of Bitcoin or protection from market losses Uninterrupted access to the platform at all times
To the fullest extent permitted by law, we disclaim all liability for losses arising from:
Price volatility
Late user responses to margin calls
Platform downtime or third-party service interruptions
11. Regulatory Compliance
We comply with the National Credit Act, Financial Advisory and Intermediary Services Act (FAIS), and the Protection of Personal Information Act (POPIA). You consent to identity verification, transaction monitoring, and reporting obligations.
12. Changes to Terms
We may update these Terms & Conditions from time to time. The latest version will always be available on our website. Continued use of the service constitutes acceptance of the updated terms.
13. Termination
We reserve the right to suspend or terminate your access to the platform for violation of these terms or suspected unlawful activity.
14. Governing Law
These Terms are governed by the laws of the Republic of South Africa. Any disputes will be resolved in the courts of Cape Town, Western Cape.
11. Contact Us
For any questions regarding these Terms, please contact:
Support Team
Email: hello@getbitcoin.loans
